Amazon Whisperer

My revenue driver for my business currently will only include a service fee from the partner lenders that work with my customer base. A non-profit is also something that has been bounced around by members of the class and is an optional direction.

We will also have main expected classes for our families that go through the expected classes of all that is involved (including costs) associated in owning a home, cost saving measures that our families will need to implement in their new home, and others.

The next product offering will be our own communities of apartments for those renting (up to two years) as they go through the process of making their reality of owning a home. 

Everything associated with this apartment community is catered around building behaviors for future owning. Including what fixtures and appliances should be purchased for best cost savings measures. We will help these families make the major purchases as they move toward correcting their credit and improving their lives overall. They earn dollars as they show savings on electricity and care of their dwellings. This next thing will certainly guarantee success for the home owner and our partner lenders will pay premium for those families that have gone through this more tedious offering.

Since my next offering of owning an apartment complex that is for a service of getting working families used to the requirements of owning their home and will only be for term up to two years of renting, I really could not find anything on Amazon. The only thing I found was a book by Laura Cochran called “The New Investor’s Guide to Owning A Mobile Home Park: Why Mobile Home Park Ownership is the Best Investment in This Economy and Step by Step Instructions How to Acquire and Manage a Profitable Park”.

This made me think of why my customer base would rather choose a mobile home during the transition via our program versus our apartment community. First of all, our families will most qualify for housing assistance and those payments will be directed to us. Most of the families that qualify for housing assistance will not pay much more than what they receive in assistance. This gives them an opportunity to really save with our program because our development will be HUD approved. The money they save in rent, will be put aside for all Energy Star appliances. There will be a savings account set up just for their essentials for their home that must be increasing in a set balance every month. 

This offering will be great addition because we will have community events driving the skills they have learned individually and encouraging each of them as they travel the road together to home ownership. This will be a community of like-minded individuals in which no one is judged or embarrassed about the income they earn because they all work very hard for their money and each will catapult the other to reach their goal of owning a home. This community will be of possibility.

My Unfair Advantage

In my youth, my sister and I spent half our summers working on our grandparents farms in Fort Wayne, IN and the other half experiencing culture at my Nana's home in Washington, D.C. Though both diverse environments, I learned to adapt to each environment.

In Ft. Wayne, I learned that although it would seem the slowness of the farm country would not offer much, there was plenty to do before the end of the day. Most everything that was cooked and placed on our plate was from the farms. I felt like they were gaining free labor half the summer from my twin sister and me, but now that I am an adult, I see the invaluable lessons and abilities gained. I learned money is not free. You earn your keep by doing your part. If you want to eat, then you tend to the farm and the animals. Weekends are for fun, weekdays are to work.

Washington, D.C. was an outlook of social learning, culture opportunities, not just because of the Smithsonian but the individuals my Nana interacted. These individuals worked at the State Department, Professors, and had a vast majority of experiences. This interaction with these well established social individuals allowed us opportunities to refine our world. I learned that we dress for dinner, we listen to others completely prior to providing our difference of opinion (which was permitted but respectfully). I learned debate is not a bad thing and that my opinion counts.

Human Capital
1. Strong work ethic

• This is valuable in that I learned early on that working brings value to the family (company). Nothing is given for free and you must do your part. 
• Not rare, but my clients and potential investors will see my work ethic as invaluable due to the experience I have had throughout the years. 
• I believe there are others that could have a strong work ethic, but the experiences I gained while growing up cannot be imitated. What  I have developed throughout my years no one else will be able to extract and duplicate. Each customer will know that my firm will work hard and expect them to work hard to  understand the requirements in owning a home.
• I think there are resources that advertise they work for their clients, but in most cases it is just marketing. There are those non-profits that truly want to help others succeed, but I don't think you will see the effort that we will provide in ensuring success for our clients. There really is not anything that can replace a strong work ethic.

2. Ability to adapt to an ever changing environment

• This is valuable in that times change and in order to be successful, you and your firm have to be willing to see the outlook and change with those times in order to meet the customer needs
• Not rare in that successful organizations and profitable ones have found ways to keep up with the times and keep their clients interest.
• I have the ability to change not just with environment but with individuals. Each of our families are different with different stages of work life and family life. We will be able to adapt our strategy with each of these families in order to reach the goal in gaining a "forever" home. There will be a lot of time, resource, and money spent to ensure we adapt our strategy to each individual family, therefore, not really inimitable.
• I don't see this human capital as one that another resource could provide the same benefit.

3. Ability to step back and see the big picture of an opportunity

• The value in taking a step back and breathing is priceless. Nothing is ever as straightforward as you may think from outset. Knee-jerk reactions (reactive) can kill a project, client's opportunity to get their home, and kill a firm.
• I believe in management this is a rarity. My work experience in managing from photography studio, fast food, retail, and call centers have allowed me to hone the ability and really see the profitability of stepping back and evaluating a situation. It does not have to take a large amount of time (could just be ten minutes) but that time to consider what is before you is really where the money is made.
• Don't believe this is hard to copy, I just do not believe there is a desire to do such. Most firms want to get their items checked off their list and not think about the repercussions of their decisions.
• I guess you could go to a psychic and they could foresee the future, but in reality nothing but another individual firm that has the same environment and willingness to step back and really evaluate the options available for their families looking for a home.

4. Management team with differing skills and ability

• As far as the value this will bring my firm is that I have a long history of managing people. In my current firm, I have individuals with differing backgrounds and opinions. I love the at times debates the staff brings when faced with a dilemma. There are not any "yes" individuals on my 17 members of the management team. These individuals have different goals and desires and even though their peers do not see the value of each other at times, I do. This diversity of managing skills continues to help make my part of the business I run successful. We run into obstacles, but how we overcome as a team is priceless.
• I believe this is a rare example of a managing today. I think the easy part in surrounding yourself with people is to pick individuals with similarity in background or experience. I think too much a something is "too much".
• Investors will value the diversity in experience with my team. I think organizations are trending to this end of the spectrum, so it will be a formula for success, but I don't believe it it mainstream today
• There is nothing that can replace the benefit that diverse management staff can bring a firm

5. Optimism

•  This is valuable in that with my business you have to be optimistic of the future for our families we are working to assist. They have been shut down or shut out of opportunities and our organization will show them there is hope to have the home they truly desire within a reasonable price.
• I think among sales this is a trait that has to be displayed, so I don't think this is rare. My business is not sales, it is assisting hard working families in getting the right home for them and knocking down those naysayers.
• This is another human capital component, therefore, I don't believe there this cannot be copied or substituted

6. If life gives me lemons, I find a way to make lemonade.

• This is different from optimism in that in this case I am talking about failure. I ran track in school and was not always the first across the finish line, but I congratulated the winner and figured out a way to ensure I did better the next time around. Failures are opportunities for success. The lessons gained from failure is invaluable from a personal perspective as well as a business perspective.
• I believe this is rare among those firms that are in the business of approving and denying credit. My firm will have such a strong relationship with the few lenders we work with on a daily basis to have a clear understanding of what is required to get approved for a home with a low interest rate, therefore, our families once they get to the stage of hitting reply, will be approved.
•  I do think there are a few organizations that offer services to lend a helping hand, but I don't believe they will be as prepared as we will be in ensuring our families do not lose hope.
• There are websites that give advice on how to improve your credit rating (Credit Karma is an example), but none that will actually walk each family through and follow up.

Capability
7. Understanding of budgets, profits and loss statements

• Investors will want to know what experience I have from a financial standpoint and managing their money. I have experience in budgets, financial records, and looking for opportunities in lowering costs to ensure profitability. I bring this experience of understanding. Of course, I would have someone on my management team that has more experience in this area, but as the CEO, I understand the rules of Sarbanes Oxley and profits and loss, so not just operationally sound, but financially sound.
• This is not rare in organizations today 
• This is utilized with most companies today
• There are firms that can be hired to manage the financial side of the business.

8.Work experience of managing large workforce of diverse employees with diverse opinions that contribute to overall value and profitability of the company.

• As I mentioned previously, managing a diverse workforce has its values. I should note it also has it complications. My father was in the Air Force for over 20 years. In that time we have moved from location to location and in the process, changed schools many times. In that time I learned to adapt to my environment and meeting different kids from differing backgrounds. Learning about them and finding something of interest about them that made them attractive (more like a magnet). This and the summers I spent with my Nana, helped develop this skill young and I further developed as I moved along my career path.You have to find ways to motivate others to do the job that is being asked and I believe you have to ensure they know they are valued. This value will show in their work and the quality put forth in their success rates. 
• It is not rare to have companies with diverse workforce. I believe the value comes in how they manage the diversity of the workforce. There are firms that have begun to understand this value and offer training within their individual organizations to their respective staff that manages employees
•  My work experience is different from another work experience, therefore, my experience cannot be substituted, but as I mentioned above, there all many resources available to help in getting that training and understanding of how to manage a diverse workforce.

Social Capital
9. Network of professional women and men that either own their own businesses or are associated with businesses in which I would depend on their knowledge and/or their connections

•  I participate in organizations for women and have made many connections with individuals. I work with both men and women that own their own businesses. Their vast knowledge of the obstacles they have encountered while growing their business is invaluable from a personal perspective. They would be the individuals I go to for wisdom and knowledge. The individuals have connections and because I have build a relationship with these people, one that is reciprocal, I am confident I can count on them when needing assistance in getting my business off the ground.
• Social capital as a network of connections is not rare. My connections and my interactions with my network is rare. What I offer these individuals for what they can offer me is not the same that these individuals will have with others within their network.
• We all have connections that can benefit one another. It would not be hard to copy the individual contacts within my network

10. Associations with individuals in the banking field as well as CPA's

• My customers need lenders that will understand the need to middle and lower income working families and have a willingness to work with these families. My network of individuals in the banking industry that deal with mortgages will assist me in gaining the right partnerships
•  Associations with firms within the financial industry is not rare.
• It can be copied from others, in that anyone in the banking field within my network, does this for a living, therefore, other firms could utilize them. In my case, I would be utilizing for information and connections to help my specific customer base.
• I can go to banks or financial institutions outside of my network, but then I would not have any competitive advantage in securing a business relationship.

My top resource would have to be my human capital. I believe the sum of them make me invaluable from a business perspective and to my customer. My past and current experience has allowed me to develop these abilities and has assisted in reaching my goals within every firm I have worked. It shows the willingness I have in overcoming obstacles, willingness to work hard for myself and for others, and the willingness to see past the customer's "poor" credit rating and see the possibility to ultimately owning a home.

Week 10 Reading Reflection

Honestly, most of what this chapter entailed I am very familiar either through my work experience or education. I think the only part I was not familiar with is the technique designed specifically for entrepreneurial firms in relation to break-even points under alternative assumptions of either fixed or variable costs.

Nothing was confusing to me in regards to the reading because it was mostly familiar.

One question would be that wouldn't the expectation of expansion of a firm be included in the capital budget if the expansion includes property, building, and etc? So this expense would be included on both the Cash-Flow budget as well as the Capital budget?

Would the author believe that as entrepreneurs, it would be very difficult to just walk away from a customer because maybe they do not take the time to evaluate the profitability of the customer? I believe in a young business it would be hard to see any customer as a "bad" customer, so how would they overcome that obstacle?

I did not read anything in this chapter that I disagreed with the author. I am familiar with most of what was included in this week's reading.

Elevator Pitch No. 3

This is my third elevator pitch and the feedback on the previous pitch was very positive. I did think I needed to point out how my business would make a profit (who pays the fees for the services provided). I briefly mentioned that this time in my pitch.

I think overall, the pitch was a good one based on the previous feedback, therefore, minimal changes made. I believe I did a better job in minimizing the ummms.

In any case, here you go and please be honest in regards to what you think.

Week 9 Reading Reflection

I think the only thing in this week's reading that surprised me was the use of co-marketing and banner ads and their usefulness. I did not realize there was co-marketing on the internet. I know I have seen it with products on the shelves in stores, but not with marketing on internet.

I am mildly confused as to why anyone would want to use the secondary data, when it can be old information and really may not entail the demographics needed for my business.

My questions I would ask Kuratko:
1. Why don't entrepreneurs just adopt the consumer driven philosophy right off the bat if they want continued success?

2. When is it appropriate to surpass the recommended 10% or less of revenue for marketing expense? Or as a rule of thumb should this be followed through lifetime of firm?

3. What are the author's thought on email marketing? I'm interested on his position for or against because I know I find it useful for businesses I frequent, but then I do hate spam.

With this week's reading there was nothing I necessarily disagreed with because most of what  I read was already confirmed in previous marketing classes.

My Secret Sauce

Hmmm, to really take the time to talk about me (my favorite subject) and define what I think makes me different in only five examples:

1. I believe someone has something to offer and I believe stepping back and reassessing the individual (even those you do not care for at all) you can find that value. I make every attempt to do such in my life
2. I make attempts to ensure all people feel included at work, social settings, or whatever environment. Even if it is my first encounter of the event or individual.
3. I consider "no" to a position, as an opportunity to improve and overcome that obstacle for the next go round.
4. In my professional life as a woman, I am not afraid to ask for what I want, such as more money, more responsibility, whatever it takes to help me reach my goals.
5. I believe in nurturing and developing those that come behind me. I want someone to want my job. I like ambition, I am not afraid to share my knowledge because that means there is someone who can take my place and thus should not hinder me from moving to the next level..

My daughter, Alexus, sees me as driven. Her idea of me is that I go out of my way to help other people even without having to ask. Good and bad, I am heartfelt and emotional. In her opinion at times not so warranted.

My friend Kerry actually has known me for 14 years and sees me as genuine. She states I would give the shirt off my back and have the ability to make someone feel they are the only person in the room.
I never met a stranger. I am trusting, but usually a good judge of character.

Jana has worked with me for 13 years, not the twelve she mentions. She thinks what makes me unique is my ability to see both sides of a situation and be objective. I don't jump to conclusions or make knee jerk reactions. She thinks at times I have a tendency to be too nice, but that has not hindered me.

Lisa is my friend who I have known for over 20+ years. Her thoughts on what makes me different is my power of persuasion. She states I am detailed and want to do my research prior to acting. Not sure if this is a good thing or bad, but she described me also as "strong willed". Heartfelt and sincere were words she utilized to describe me and honestly, who am I to disagree.

Nadine has known me for 15 years. Power of negotiation and ability to get teams to work together is what she thinks makes me unique. Ability to look at all sides or the whole picture

Mahal is my friend that has known me for 15 years. She describes me as passionate and it comes out in my work. My belief in people and give many chances, and after they fail I give them many more (sounds like a weakness when she said it out loud). I invest in people to get what I need.

I had early on decided what kind of person I wanted to be and always believe in treating others as how I would want to be treated. In my life and due to my age, I have had lots of opportunities to self-examine and it would seem, that my family, friends, and co-workers and I are on the same page.

I can step back and relate to what Mahal stated in her video and that is "our greatest strengths can also be our greatest weakness". I am at times an overly positive individual about others and want to always hope for a brighter tomorrow (that sounds corny-like it came from Annie).

In any case, I think you now know more about me than you ever wanted to know, but don't blame me, blame Dr. Pryor.

Idea Napkin No. 2

Just because I put an idea on this napkin doesn't mean that change is imminent. This is just a canvas for ideation. It's what I do next that counts. Brian Solis

I am individual that always attempts to find the good in any situation. Even if I have associates that say something negative about an action plan, I believe there must be something we can do to improve the process. It may not change significantly, but enough that the associates see that management is hearing their concerns and are willing to make some concessions. This is what I see will also be helpful with my business.

Too many families are being told or think they lack the needed tools for owning their own home. I want to show these lower and middle income working families that homes are within their reach. Not bottom of the barrel homes, but a real home that is in a safe neighborhood, close to shopping and schools. Just because they lack the understanding of education of the home buying process should not exclude them from reaching this goal.

My business, Trans-It-Home (transition to your forever home) will first just start as a service offering assistance in overall home education as well as meeting the financial requirements for our lenders. We will require two hour classes to be taken for two weeks in which we educate about green resources and the benefits of spending more money up front for lighting and other tangibles in order to lower utility costs. We will educate about recycling, composting, and upkeep of home such as filter changing and keeping the air conditioner and heater serviced at least twice a year. Ways to clean the dryer vent yourself to ensure the appliance is not having to overwork (which adds to utility costs). These families need to have an understanding of the total cost in owning a home, not just the principle and interest.

Our families work hard to get by every day. These families have aspirations for their children to do better than them. Their hope is they work hard so their children do not have to work as hard to reach their goals. These lower income and middle income families have pride in their work ethic and everyone in the family has a part to play in order to keep them cohesive. These are the families that will be successful in our program and will value the service offerings.

We are not a brokerage firm, we offer a service to assist these families in reaching a goal. The lending companies (only a handful) we work with are the partners that pay most of our fees because we are providing them with families with stable working environments and certifications of what they can really afford and automatic payments for assurance of payments. Our families will have a fee to pay, but what they do not know is this will be put away for an excursion of shopping for their new home they were approved at course completion. We are not just going to educate, but we are going to examine and ensure they understand the concepts taught.

Feedback memo-
1. Limited lenders to a few in order to gain best pricing for clients
2. Starting the business off with a limited service offering for now and then expand ideas as we go along
3. It was not clear how we will make money without hurting the families we are attempting to assist. I believe the above has cleared that up
4. Confusion how we will actually differentiate ourselves from a broker
5. Most feedback I received was positive of the clientele I am serving and there is a need for this offering that is cost effective to our customers.