izabelasocha

[izabelasocha]

Start up venture (week 13)

This week I calculated all the costs that I incurred from the beginning of the project and, despite the lower production than expected, I made a profit. I had to overcome many obstacles in order to achieve this small success which turned out to be a profitable idea, not a failure. Last week, two old ladies started working with me and helped me achieve the production standard last week and this week. It is very difficult to run such a business without the participation of employees because it is a time-consuming production. It is amazing that so many people want to buy my product, so I must say that this is a reason for modest pride. However, starting your own website has proven to be costly and is a project for the future. This experience has taught me great humility and greater patience.

[izabelasocha]

Start up venture (week 12)

A lot has happened this week because the sales of my product are increasing. Profit is at the same point as last week which I consider a success. It is a surprise that more and more people are asking about the recipe for the dough from which the pierogies are made. Consumers are asking if they will be able to order pierogies from me even after the end of the project. Starting your own business requires a lot of dedication, especially in a company where there is no time to rest. The design of my business is very simple, but the production and distribution itself takes a lot of time. My family and friends support me very much for which I am very grateful to them. 

[izabelasocha]

Start up venture week 11

This week my product is very high relative to production. The assumption was to achieve higher sales and production, but it turned out to be impossible because it was very difficult to find people to cooperate with. I do all the production myself, so I do not have time to rest, so I decided that Monday will be a day off because the sale is the lowest on this day. The venture is a huge challenge and I know that without the help of my family and friends, the sale would be limited and the profits would be much smaller. I expect much lower profits than I intended to make, but the costs are also much lower. My company's project is an undertaking of great physical endurance and organizational agility.

[izabelasocha]

Start venture update week 10

This week I decided to start the production of my pierogis' and reach as many customers as possible. The only problem is hiring additional people for a month. It turned out that the production is only by my hands and the distribution is done by my husband who is currently at home. I am not able to produce the established standard because I was dividing the work into three people, so production and sales have now decreased. The profit is achievable because I do not pay the employees but the daily production is much smaller. This project taught me humility and faith in my own skills. The interest has grown a lot and I can't get into production. The first week of sales turned out to be a success for friends and the Polish community in Canada.

[izabelasocha]

Start up venture week 9

My company's progress this week has been intense but everything has been made clear in the show case project. The product has been made and all production details have been explained. Opening a new business is a huge challenge. Everything is uncertain because it is new and unknown. However, with the support of family and friends, success can be achieved.

[izabelasocha]

This is showcase about my company which I am interesting to open. I would love to reach as many possible customers that could enjoy and  try my delicious product. 

[izabelasocha]

Start up venture update...

The preliminary analysis of the business budget showed profit, therefore I believe that this business has a chance to be successful in the future. The next step is to design a company logo and implement a promotional plan. Due to the pandemic, the promotion of tasting is limited, therefore I am planning to promote outside, close to the stores offering Eastern European products. It is also necessary to design a flyers with the offer and the addresses of stores where my product will be available. The problem is the limited budget and official regulations due to the prevailing COVID. The whole process is challenging with obstacles. Searching for clients will be difficult, but it may even turn out to be interesting due to the diversity of cultures. I think that for me personally it will be a great teaching of perseverance.

[izabelasocha]

Start up venture

My business project actually started with a budget analysis. Milestone project turned out to be a challenge in finding the necessary information for small business. With such a small budget, it's hard to make a profit in a short time. Taking into account the production costs, expenses and the necessary production equipment, the project is profitable. The assumed production cost prices take into account the price level of local entrepreneurs. The advantage of my company is that there is little competition in my region. When I started talking about my project, I thought it was a business that might not end up successfully. While searching for information on all the necessary documents and requirements related to the opening, I realized that it is a huge challenge. I think it is an experience that teaches responsibility, honesty and self-confidence.

[izabelasocha]

Money for start up own business...

Entering your own business involves costs that are high at the beginning. In my case, the main source will be my own savings and I would also consider a bank loan for development. If, however, it turned out that a loan from a financial institution was impossible, a reasonable solution would be to get acquainted with government programs that finance part of the expenses of small enterprises. Another good solution would be to get money from individual investors who provide appropriate knowledge and advice in order to develop the company's success.

[izabelasocha]

Business operation plan

A business operations plan is very important for any size of enterprise. It provides a well-developed strategy for the organization of work of all employees, budget, planned expenses, visible changes in profit or loss over time and define goal settings. First of all, there is a production plan for the next few months, which shows what the revenue is and what percentage I am able to increase the intended goal. The main goal is to start production within three to four weeks. The location of the company and the distribution of my product is in the region of around 230,000 people. Production, distribution and production demand is performed every day of the year. The initial budget is very limited while the expenses are much more because it is associated with the relevant documents and permits needed to open a business as Business License, Consumer packaging and labelling, Food labelling, Food facility registration, Food and drag administration . Production requires two people for the intended daily production, one distributor with a driver's license and one procurement person. The organization of the production strategy and any other activities will depend on my job. This product will be distribute to local stores and direct order via the website.

[izabelasocha]

Creating  advertising

Wondering why Bracelet is so important !!! you have to wearing everyday... why!!!  because we are feeling very weird, because best friends have same one and we always remember about them, because we don’t really know if we forgot or lose that beautiful and emotional small thing....

Then we are close to being anxious and start creating big drama... why because we don’t know what really happened .....T

The other thing is to use our bracelet everyday different , you can add your pin to your bracelet that make it new everyday When you change beads and add your pin its even more interesting.

It is also great idea for a great present without cost every day!!!!

[izabelasocha]

Created Persona

Background: amylases persona with young women

-25-40 years old

- stable job- full time

income around 45,000 plus middle class .

 -leaving in Wetland , married, 3 kids.  

-Lifestyle: love reading books, spending time with kids, healthy food, relax with family

description

loves homemade food 

respect traditional food, 

reliable to eastern food

affordable to buy high quality products

barriers 

lack of time for cooking 

[izabelasocha]

Local Competition

In the Polish home made food I have 3 main competitors. They are: “Polindaz Place” NF, St. Joseph’s Bakery, and “Polish Deli”. They offer hand made frozen perogies, with various fillings. However, my idea is to sell hand-made fresh perogies made from organic ingredients. My strengths are natural ingredients, special dough recipe, and real ingredients instead of artificial spices. No additions like MSG. Also, we have a large Polish community here in St. Catharines that may help me to advertise and distribute my products. 

[izabelasocha]

[izabelasocha]

Self assessment

My score for the self-assessment of the potential to be an entrepreneur was 145, which is a little below the average. from the test it  appears that I do not have enough motivation to be an entrepreneur since. The test shows not enough attitudes-need for achievement, power of control, need for challenge, and self-sufficiency are all below the average. however, I have strong perseverance and  enthusiasm, which can help me to establish my own business. regarding my attitudes-I believe, that hard work is the key to success, and I am action oriented. To summarize, I think although my score is not the highest, it does not really reflect my abilities and skills to succeed.