His Sheep

For this week’s journal entry I would like to start with an update of how my business (for the $100 Challenge) is going. Last week I had forecasted that this week my sales would more than double. Unfortunately that did not happen and instead I only had one customer to whom I gave a pedicure. All the customers that I thought I would have this week did not disappear entirely, they simply rescheduled. The fact that business was so slow this week had me in a sullen mood until I had an important conversation with my husband. He pointed out that this lull in the business was the perfect lesson that sometimes business is exciting and fast paced, and then sometimes it is slower and more of a struggle. So in order to grow customer awareness for  Pedi’s for Mommies, I am going to talk about my business all the time. At the start of this business I was a little timid and laid back about marketing. But, I really believe in my service and I want to make sure that my target market knows that. So this next week I am going to get the word out and have women start telling their friends to spread the word.

Now on to what I have learned in class this week. All the readings and assignments this week were about my favorite topic: leadership. Of all the readings my favorite was “Sheep, Shepherds, and Sheepherders,” by James R. Moss. Moss teaches that a sheepherder is someone who owns sheep and rides a horse in the back of the herd while he lets the dogs do all the work. A shepherd, on the other hand, is at the front of his herd and leading them this way and that. The difference between these two is leadership. The great Shepherd of us all is Jesus Christ, and as I study His life I can learn how to be an effective leader. There are 10 lessons that Moss offers from Christ’s example. They are:

1. Love the Sheep
2. Number the sheep and measure their performance to determine who is lost.
3. Go after the lost sheep and stay out until it is found.
4. Help bear the burdens of the sheep that is found.
5. Involve others in Fellowshipping the sheep that is found.
6. Get to know the sheep.
7. Let the sheep get to know you.
8. Lead the sheep by personal example.
9. Feed the sheep.
10. Sacrifice yourself for the good of the sheep.

This was a beautiful talk and I never want to forget these lessons as I continue on my entrepreneurial journey. In John 10:15 Jesus Christ says, “I lay down my life for the sheep.” For Him and His sacrifice I will always be grateful.

Business has begun!

In my New Business Creation class this week I learned just how important it is to value and serve customers. One of the class readings was called “Value the Customer,” which states the old business saying, “If you don’t take care of your customers, someone else will.” This is true because there are so many businesses competing for the same customer and the same sale. All businesses have competition and so if they fail to value their customer, then that customer can take their business elsewhere where a business will value them. If a business owner wants to be successful then he or she must understand that customers are their most valuable assets.  

Pedi’s for Mommies started this week! My $100 Challenge business is going really well. This next week I have scheduled more than double the pedicure appointments that I gave this week, and I couldn’t be more excited!The first pedicure I gave was to my sister-in-law. She gave me lots of great feedback on what felt good and what felt not so good. I applied her feedback to the next pedicure I gave and it went wonderfully. Another piece of feedback my customers gave me was to schedule appointments over the phone instead of on Facebook. I thought having a Facebook page would make it easier for my customers to schedule appointments. However, stay-at-home moms, my target market, do not spend a lot of time on Facebook. They said that they would rather just schedule of appointments over the phone. I hope to continue receiving and applying customer feedback throughout the course of my business. Starting this small business, Pedi’s for Mommies, has been a great learning opportunity for me on my entrepreneurial journey.

Be Remarkable!

The lessons I learned this week were focused on building a brand and becoming a successful marketer. One of the readings I read for class was an article titled, “In Praise of the Purple Cow,” by Seth Godin. Godin explains just how important it is in today’s world to be remarkable in order to be successful. He says, “The one sure way to fail is to be boring.” My favorite part of the article was when Godin offers ten suggestions for how to be a better marketer. Below I have included a paraphrased version of this list so that as I move forward on my entrepreneurial journey and look back at this e-journal, I will remember these lessons.

10 Suggestions

1. Differentiate from your customers and find the most profitable group.
2. Find your niche.
3. Create two teams: milkers (those that milk your current ideas for all their worth) and inventors (the ones who continue to make the remarkable).
4. Get email addresses of top customers and communicate often with them.
5. Creating something remarkable does not mean it has to be big and obvious to be successful - such as a new price, change in phone answering services, etc.
6. Explore the limits.
7. Think small.
8. Find the things that are “just not done” and do them.
9. Ask “Why not?”
10. Tell the truth inside your company and to your customers.

For more information I recommend reading the article at the following link: <http://www.fastcompany.com/magazine/67/purplecow.html>.

I have accomplished a lot for the $100.00 Challenge this week. First off, I changed the name of the business from Mommy Pedicures to Pedi’s for Mommies; the new name seems to make more sense and have a better flow. Also, I have created an elevator pitch and I have included it at the end of this post. The business flyer for advertising has been made and I am in the process of creating a Facebook page to coordinate appointments. I am happy to announce that my business will be open on Monday, February 16, 2014. I’m so excited! Next week  I will report on how the business is running.

Elevator Pitch

Being a mother is one of the most rewarding lifestyles you can choose. It is also one of the most under-appreciated and overworked occupations. Moms give of their creative energy, physical strength, and endless love all day- everyday- no breaks. At Pedi’s for Mommies, We are giving back.

We offer luxurious pedicures at an affordable price, to the most important women in our lives. And we do so in the comfort of their own home. No need for a baby sitter, we come to you!

In 2005, an estimated 50,000 US nail care centers pulled in over 6 billion dollars (1). Each of these centers offers remarkably similar products and services, and customers select one over the other largely based on location and convenience. We will differentiate from the competition by being more accessible and more convenient than the traditional brick and mortar establishments can be.

Our customer acquisition strategy hinges on leveraging existing friendships and connections to spread the business through word of mouth and grassroots marketing.

Each full service costs us $3.50, for which we charge $15. This results in a total hourly earnings over 70% higher than minimum wage.

Ultimately, the beauty of this business is that we will be giving back to some ladies who desperately need some pampering. I believe in the good this will bring about. This business will result in enough income to make it worth the effort while not breaking the customer’s wallet.

I am Pedi’s for Mommies and I will bring the relaxation to you.

(1)   http://archive.azcentral.com/health/news/articles/1101nailhealth-ON.html  

Counsel on Managing Finances

“Funding Your Business” was the topic for this week’s lesson in my New Business Creation class. By reading multiple talks and case studies on the topic of finance, I learned about important principles such as saving and budgeting, and I also discovered the best way to fund my $100.00 Challenge business.

One of the talks I had the opportunity to read this week was “Becoming Provident Providers Temporally and Spiritually,” by Elder Robert D. Hales. Elder Hales teaches that provident providers are those that provide for themselves and their families in ways both temporal and spiritual. Provident providers can do this by practicing the principles of provident living. These principles include saving, preparing for emergencies, living within our means, being grateful for our current situation, and steering clear of excessive debt. As we do these things we will be blessed with means to take care of our family’s needs. Another talk that I read was “Opening the Windows of Heaven,” by Elder James E. Faust. He discusses the importance of paying tithing to the Lord, which is one tenth of our individual increase. Elder Faust says, “Many of us have had the windows of heaven open up for us, so we do not look upon tithing as a sacrifice but rather a blessing and even a privilege.” I could not agree more with Elder Faust’s words. In my life I have had so many blessings come from paying tithing and I do not doubt that regardless of the amount, a full tithe payer will having the blessings of Heaven showered down upon them. I am grateful for this knowledge and my hope is that as I start new businesses, and even start a family, that I will remember and apply this counsel that I have received from prophets, seers, and revelators.

As I mentioned above, this week I chose how to fund my $100.00 Challenge business, Mommy Pedicures. In order to cover the costs of gas, traveling to and from the homes of my customers, I have decided to use personal capital. Because I already have all of the materials needed for this business, the costs of starting this business are minimal and so it seemed appropriate that I cover the costs myself. Next week I look forward to sharing my business “Elevator Pitch.”