julia-andrea-moore

[julia-andrea-moore]

Good news this final week! I reached out to a few of my friends and family members and was able to sell my last 3 units of my product! This means I can say I successfully reached my goals for the semester which I am really happy about. I am in the process of writing my report and am looking forward to sharing all that I learned throughout this project.

Julia Moore

[julia-andrea-moore]

Unfortunately I again don’t have any updates on my business. I posted on my social medias and reached out to some friends and family but am still finding it a bit difficult to sell my last 3 units. This week I will continue to post about my product on my social media and also reach out to some more family members and friends to try and sell my last 3 units before the end of the semester. If this doesn’t work, I will have to try something new for the last couple of weeks but my fingers are crossed hoping that I will be successful this week. I will say that I am having a lot of fun in this course and with this project though.

Julia Moore

[julia-andrea-moore]

I don’t have any updates thus far in my business. I still have 3 units left to sell. Since the deadline is getting close I will focus on doing some more social media marketing this week for my product as well as reaching out to more friends and family members to try and sell my last 3 units before the end of the semester. Overall, I am super impressed with my progress so far and I have high hopes that I will be able to sell my lat 3 units and meet my sales quota by the end of the semester.

Julia Moore

[julia-andrea-moore]

Online Showcase Assignment- Julia Moore

[julia-andrea-moore]

This week I filmed for my online customer showcase assignment which I am really excited to edit and submit today as I feel it turned out very well. I haven’t sold any more units which means I still have 3 more to sell but I think after posting my ad on my social medias and sending it to my friends I should be able to sell the rest. Overall, things are still going really well and I haven’t really faced any challenges. 

Julia Moore

[julia-andrea-moore]

what is working?

what is not working?

how do you feel the project is coming?

what are you learning about running a business?

what are you learning about yourself?

The past week I put together my products and began filming for my online customer showcase assignment which I am super excited to finish this Saturday as I think it will turn out very well. I have also made 3 sales so far which means I only have 3 more units to sell. Overall, everything is running smoothly and I am happy with my progress.

Julia Moore

[julia-andrea-moore]

This week I am going to spend some time to get all of the products actually put together and assembled and I will then take some pictures of the product to show to friends and family to ask if they would like to buy one. I feel like the project is coming along well and that I am on track. I feel very confident in my ability to sell all of my units in the next week or so as everything is going very smoothly.

Julia Moore

[julia-andrea-moore]

[julia-andrea-moore]

My start-up venture progress has been going along pretty smoothly. I just received all of my supplies in the mail so will be putting the products together in the next couple of days that way I can take pictures and begin posting on my social media. I already have a few family members who are interested in buying one of my products so I only have to sell a few which I think will be pretty easy. I’m learning that running a business is a lot more of a slow and steady process than I thought because you have to wait for supplies and then eventually wait for orders as well. This has made me realize that I am very much of an on-the-go type of person so waiting around for supplies to arrive has been a bit of a struggle. I feel that nothing I’m doing right now is necessarily working or not working as I’m just in the beginning steps and haven’t started marketing yet. Overall, I’m really happy with the progress I’ve made so far in my project and look forward to the upcoming weeks.

Julia Moore

[julia-andrea-moore]

For taking my business forward, I would probably use a mixture of personal savings and government funding and I may also consider getting bank loans depending on how much money I have accumulated after using the first two mentioned options. As someone who is a very independent person, I don’t like having to rely on other people or share my business with other people which is why I would like to try to keep all matters in my own hands. I already have a pretty large amount of personal savings so I feel that would be enough for my business in the starting steps and combined with government funding I think I would be more than well off. However, if that isn’t enough and I want to grow my business larger I would resort to using bank loans.

[julia-andrea-moore]

I’ve already ordered all of the necessary supplies for my business as I knew I wanted to order them from a wholesale website which takes fairly long for shipping. I have already received half of my supplies so I feel I am currently on track to getting my product ready in time. My overall vision of what I need is masks, mask holders, hand sanitizer keychains, wrist straps, and door opening tools. I honestly won’t really need anything other than that as I am doing all of my promoting through word of mouth and on my social media. Eventually, I would need a business license but at the moment I don’t feel that is necessary as the business is still very small scale and I don’t plan on writing off any of these expenses on my taxes.

[julia-andrea-moore]

I would first start off by saying my persona would be female, this is because I feel that typically females are more organized and hence more interested in organizational tools like my product. I would say my persona would be between 25-34 years old. This is because this audience is more likely to be shopping online to find my product and also more likely to be intrigued with the “accessory” aspect my product brings. I will name my persona Sarah. Sarah enjoys going shopping and even something as boring as grocery shopping excites her. However, with the COVID-19 pandemic, shopping hasn’t been as fun for Sarah as it used to be. She finds it very hard to remember her mask and hand sanitizer when she goes to the store despite how much of an organized person she is at her job and in her school as she is a student. She is also freaked out about the pandemic and doesn’t want to get sick which makes her scared to go out and do one of her favourite activities which is shopping. Sarah wishes she had some sort of fashionable but functional accessory that would allow her to never forget her COVID-19 essentials again and feel safe out in public.

Julia Moore

[julia-andrea-moore]

Competition

My business idea doesn’t really have any competition as it is very innovative and I couldn’t find anything like it on the market. I did various searches and wasn’t able to find anything quite like my product. This is great for me as I don’t really have to figure out a competitive advantage because my product already has its own competitive advantage. However, I will discuss some products that are a bit similar and go over their strengths and weaknesses. I was able to find similar mask holder keychain ideas on Etsy and prices range from $6 to $23. I definitely have a competitive advantage already in price because my entire keychain of safety tools is only $20 retail value. They also don’t seem to have their own websites or social media so that is a weakness on their end and something I can capitalize on. The one area they could beat me is having reviews because since my product is new I don’t have any customer reviews yet. This seems to be the only competition I have and compared to my product it is nothing because I am giving customers an entire arsenal of tools and accessories to aid them in a time of face masks and hand sanitizers. Overall, I definitely have a great competitive advantage over any/all of my competitors.

[julia-andrea-moore]

Julia Moore

[julia-andrea-moore]

My Strengths and Weaknesses

I’ll start with my strengths first. I think one of my biggest strengths is how organized I am. Being a procrastinator (one of my weaknesses), it is sort of necessary for me to be organized or else I don’t think I would be able to get anything done. Although I may wait until the last possible minute to get things done, at least I have a premeditated plan/checklist to help me accomplish it. Another one of my strengths is that I always try to look at things in a positive way. I firmly believe in the statement “everything happens for a reason”. Other than procrastinating, another one of my weaknesses is that I’m a perfectionist and often too hard on myself. I focus too much on making sure everything is perfect when I should rather just get it done and move on. Another weakness I have is that I am easily distracted. As someone who has had ADHD their whole life and recently got off medication after being on it for 15 years, I find it very difficult sometimes to concentrate on the task at hand. All this being said, I am proud of the person I am today and accept both my strengths and weaknesses. I will continue to further my strengths and learn to find ways to improve on my weaknesses as well.

Julia Moore