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[sara-boyer]

Week 13

What is working?

This week our sales were steady and we sold a good number in time for upcoming Mother's Day. Our social media posts keep our website traffic steady. Again, we have the best customer service process and it is serving us well.

What is not working?

Bundling of more than 2 is becoming more requested and we haven't offered any sales promotions, as a result people are going elsewhere to find better bundled deals.

How do you feel the project is coming?

The project has been going well. It gave a great first hand experience of the processes involved with starting a small business and running the day-to-day aspects of it.

What are you learning about running a business?

This week I learned that running a business can be fun and exciting, because you get to meet new people and learn a little about them while offering them a great product. It has been a great experience overall.

[sara-boyer]

Week 12

What is working?

This week our sales were just ok. We will be boosting our social media to try and grab a few more sales. Again, our streamlined customer service process is serving us well with great customer satisfaction levels.

What is not working?

Our social media presence tends to quickly fade after a few days, so we have to stay on top of that to ensure we don’t get lost in the market.

How do you feel the project is coming?

So far, so good! There have been a few hiccups and learning experiences were plentiful trying to navigate this market.

What are you learning about running a business?

This week I learned that running a business is a full-time task and that trying to manage time and resources to meet special requests or deadlines is daunting at the least. I'm sure there will be more to learn in the future.

[sara-boyer]

Week 11

What is working?

This week our sales were great again. We continue to contribute this increase in sales from the marketing changes we made to try and boost our social media image. Again, our streamlined customer service process is serving us well with great customer satisfaction levels.

What is not working?

The technical issues with our website, seem to be resolved as of last week we have had zero downtime this week.

How do you feel the project is coming?

So far, the project is coming along well, and I am eager to see the final outcome.

What are you learning about running a business?

One of the many things to learn about is the importance of time management. This week we really honed into that and made great sales and accomplished a lot of administrative tasks in an effective way that will put us ahead of schedule next week.

[sara-boyer]

Week 10

What is working?

This week our sales were the best they have ever been. The increase in sales and positive reviews are from the marketing changes we decided to make to try and boost our social media image, we have yet to reach out to any influencers to collaborate. Again, our streamlined customer service process is serving us well with great customer satisfaction levels.

What is not working?

We are still sporadically experiencing some technical issues with our website, which lead to a down time of less than 30 minutes, but it seems to be getting better each week. We could have lost potential customers and hope this issue is resolved soon.

How do you feel the project is coming?

So far, the project is coming along well and while there is a new challenge every week we continue to improve where we can. With this improvement we see a direct correlation with the number of return customers we have the following week. I continue to look forward to seeing the final outcome.

What are you learning about running a business?

There are many learning opportunities that come up every week, from marketing challenges to problem solving website issues. It enforces the importance of consistency, agility, and adaptability in this landscape. I am further honing my leadership skills and continuing to learn all aspects of the business as we move forward.

What are you learning about yourself?

I have discovered that my patience levels are pretty high and have no problems being quick to make decisions to solve a problem quickly. I am still learning to trust my intuition and make decisions with confidence. Running Wavelength Wearables has taught me the importance of consistency and a positive attitude and how it can help achieve success during the starting phase.

[sara-boyer]

Week 9

What is working:

So far, our latest jewelry collection has resonated well with customers, leading to an increase in sales and positive reviews. We have recently been thinking about collaborating with a popular influencer on social media to try and further boost our brand awareness and bring new followers to our platform. Additionally, our streamlined customer service process has resulted in faster response times and improved customer satisfaction levels.

What is not working?

We've experienced some technical issues with our website, leading to occasional downtime and difficulties with online transactions. Despite our efforts, we've observed a slight decline in repeat purchases, indicating a need for further engagement and retention strategies.

How Do You Feel the Project Is Coming?

I'm feeling optimistic about the progress we've made so far with Wavelength Wearables. While we've encountered challenges along the way, we've also celebrated many successes and milestones. I look forward to seeing the outcome of this business.

What Are You Learning About Running a Business?

Running Wavelength Wearables has been a valuable learning experience, teaching me the importance of agility and adaptability in the ever-changing business landscape. I've gained insights into effective inventory management strategies, customer acquisition tactics, and brand building techniques. Additionally, I've honed my leadership skills and learned to delegate tasks effectively to maximize productivity and efficiency.

What Are You Learning About Yourself?

I've discovered my capacity for innovation and creativity in problem-solving. I've learned to trust my intuition and make decisions with confidence, even in uncertain circumstances. Running Wavelength Wearables has also reinforced the importance of perseverance and resilience in overcoming obstacles and achieving success.

[sara-boyer]

Week 8

Week 8 update on how things are going with my start-up venture.

What Is Working? One thing that has been working really well for the business is our marketing efforts. We’ve been posting regularly on Instagram and Facebook, showcasing our product, and engaging with our audience. It’s been great to see the positive responses we’ve been getting and how it has translated into increased website traffic and sales.

What Is Not Working? On the other hand, we’ve been facing some challenges with our delivery times with our supply chain. There have been delays with pendant fulfillments arriving a day or two after the deadline, which has impacted our production timeline and fulfilment process. It has been frustrating to deal with, but we’re actively working on finding solutions and alternate suppliers to mitigate the impact.

How Do You Feel the Project Is Coming? Overall, I feel really good about how the project is coming along. We’ve hit some milestones and achieved some early successes, which is encouraging. However, there is still a lot of work to be done.

What Are You Learning About Running a Business? Running this business has been a huge learning experience for me. I’ve had to wear many hats and juggle multiple responsibilities, from marketing to sales to operations and customer service. It’s taught me the importance of being adaptable, resourceful, and resilient in the face of challenges.

What Are You Learning About Yourself? Through this process, I’ve learned a lot about myself and my strengths and weaknesses as an entrepreneur. I’ve discovered that I thrive under pressure and enjoy the creative problem-solving aspect of building a business. At the same time, I’ve realized the importance of seeking help and leaning on my support network when needed.

Overall, I am grateful for the learning opportunity. There will inevitably be more obstacles and challenges along the way, but I’m confident that with hard work, determination, and a positive attitude, we’ll continue to make progress and achieve success at the end of week 14.

[sara-boyer]

Week 7

What is working? So far, word of mouth is attracting new customers. I have sold two to family members and they really like the idea. They wanted to know if they can get bundled deals like BOGO...but I said no. Haha.

What is not working? A challenge came up where a customer wanted nicer packaging since it is going to be a gift. Our basic Betty recycled packaging is lacking style but we chose that because it is sustainable. The customer is more than welcomed to switch the packaging material out for something nicer.

How do you feel the project is coming?I feel like the project is coming together fine so far, I can foresee a lot of tweaking the selling strategies I am using.

What are you learning about running a business? One lesson learned so far is that people have a lot of good ideas when they inquire about my product. For instance, someone asked if they could have multiple pendants on one chain. I said sure, but shipping will increase due to the weight increase.

What are you learning about yourself? I have learned that adaptability and resiliency are a key qualities that are needed in order to continue on in adverse times when it comes to selling a product, because a lot of people will say no, and that's ok.

[sara-boyer]

Blog Post: Unveiling Wavelength Wearables' Operations Plan

As the launch of Wavelength Wearables draws near, it's crucial to outline a comprehensive operations plan to ensure smooth execution and successful market entry. In this blog post, I'll delve into my strategic approach to purchasing products, generating resources, and navigating potential challenges to bring our unique jewelry pieces to market.

Product Sourcing and Procurement Strategy: Sourcing high-quality materials and partnering with reliable suppliers are essential components of our operations plan. To maintain product integrity and meet customer expectations, I'll prioritize sourcing materials that align with our brand values of quality craftsmanship and durability. By establishing strong relationships with trusted suppliers, I aim to secure favorable pricing, timely delivery, and consistent product availability.

Resource Generation and Allocation: Effective resource management is key to optimizing our operational efficiency and maximizing output. With a focus on lean practices, I'll leverage existing resources judiciously while identifying opportunities for cost savings and process optimization. Whether it's streamlining production workflows, minimizing waste, or optimizing inventory management, I'll continuously evaluate and adjust our resource allocation strategies to drive productivity and profitability.

Timeline for Market Entry: The final six weeks of the course present a critical window of opportunity to bring our product to market and capture the attention of our target audience. While the timeline may seem tight, I'm confident in our ability to execute our go-to-market strategy effectively. By leveraging pre-established supplier relationships, streamlining production processes, and prioritizing key tasks, we'll work diligently to meet our deadlines and launch Wavelength Wearables with a bang.

Group Collaboration and Roles: As the sole proprietor of Wavelength Wearables, I'll take on multiple roles to oversee all aspects of the business. From product development and marketing to finance and logistics, I'll wear many hats to ensure seamless coordination and execution. While collaboration with external partners and contractors may be necessary for specialized tasks, I'll remain the driving force behind our operations, making strategic decisions and driving growth initiatives.

Licenses and Permits: In launching Wavelength Wearables, I'll ensure compliance with all relevant licenses and permits to operate legally and ethically. This may include obtaining business licenses, tax registrations, and compliance certifications to ensure adherence to regulatory requirements. By proactively addressing these obligations, I'll mitigate potential risks and build a solid foundation for long-term success.

Tools and Items Needed for Launch: To kickstart our sales efforts and establish a strong online presence, I'll invest in essential tools and resources to support our marketing and sales initiatives. This may include: E-commerce Platform: Utilizing a user-friendly e-commerce platform to showcase our product offerings and facilitate seamless online transactions.

Digital Marketing Tools: Leveraging digital marketing tools such as social media management platforms, email marketing software, and analytics tools to drive brand awareness and customer engagement. Packaging and Shipping Supplies: Procuring high-quality packaging materials and shipping supplies to ensure safe and secure delivery of our products to customers.

Customer Support Infrastructure: Establishing efficient customer support systems to address inquiries, resolve issues, and deliver exceptional customer service.

Overall, Vision for Launch: In launching Wavelength Wearables, my overarching vision is to create a memorable brand experience that resonates with our target audience and establishes us as a trusted provider of unique jewelry pieces. By prioritizing quality, innovation, and customer satisfaction, I'm committed to delivering products that inspire joy, evoke emotion, and create lasting memories for our customers. With a clear roadmap, strategic focus, and unwavering determination, I'm excited to embark on this journey and bring Wavelength Wearables to life. As the countdown to launch begins, I'm energized by the possibilities that lie ahead and motivated by the opportunity to share our passion for creativity and self-expression with the world. Stay tuned for updates as we prepare to unveil Wavelength Wearables and embark on this exciting new chapter together!

[sara-boyer]

Exploring Financial Sources for Future Business Growth

As I embark on the journey of launching Wavelength Wearables, securing adequate funding is a crucial step in ensuring the success and sustainability of my business. While I've initially invested $50 of my own capital to kickstart the venture, I recognize the need for additional financial resources to fuel growth and expansion in the future.

When considering potential financial sources for my business, I've taken into account several factors highlighted in BDC's article, "4 factors that could affect financing your start-up." These factors include:

Business Stage and Growth Trajectory: As a start-up, Wavelength Wearables is in the early stages of development, with plans for rapid growth and scalability in the coming years. Therefore, I need financing options that can accommodate the evolving needs of my business as it progresses through different stages of growth.

Risk Appetite and Financial Stability: While pursuing financing options, I must assess my risk appetite and financial stability. As a sole proprietor, I bear full responsibility for the success and viability of my business. Therefore, I need to choose financial sources that align with my risk tolerance and provide flexibility in managing cash flow and debt obligations.

Collateral and Creditworthiness: Traditional lenders often require collateral and assess creditworthiness when extending financing to start-ups. Given the early-stage nature of my business and limited assets, securing loans from banks or financial institutions may prove challenging. Therefore, I need to explore alternative financing options that don't solely rely on collateral or credit history.

Cost of Capital and Terms of Financing: Understanding the cost of capital and terms of financing is essential in evaluating the overall affordability and feasibility of different funding sources. While some options may offer lower interest rates or favorable repayment terms, others may involve higher costs or more stringent requirements. It's crucial to carefully weigh these factors and choose financing solutions that align with my long-term business objectives.

Based on these considerations, I'm exploring the following financial sources for future business growth:

Bootstrapping and Personal Savings: Continuing to invest my personal savings and reinvesting profits generated by the business will serve as a primary source of funding. Bootstrapping allows me to maintain full control over the business operations and decision-making process while minimizing debt and external obligations.

Crowdfunding: Crowdfunding platforms offer an alternative avenue for raising capital by leveraging the collective support of backers and investors. Launching a crowdfunding campaign can not only provide financial resources but also validate market demand and generate buzz around my product offerings.

Angel Investors and Venture Capitalists: Seeking investment from angel investors or venture capitalists can inject significant capital into my business while also providing valuable expertise, mentorship, and industry connections. However, securing funding from these sources often requires a compelling business proposition, scalable growth potential, and a solid track record of execution.

Small Business Loans and Grants: Exploring small business loans or grants from government agencies, non-profit organizations, or industry-specific programs can provide additional financial support with favorable terms and conditions. These funding options may be particularly beneficial for covering specific expenses such as equipment purchases, marketing initiatives, or research and development efforts.

In conclusion, while the initial $50 investment serves as a catalyst for launching Wavelength Wearables, I recognize the importance of exploring diverse financial sources to fuel future business growth and innovation. By carefully evaluating each option based on my business needs, risk tolerance, and growth objectives, I'm confident in securing the necessary funding to realize the full potential of my venture.

[sara-boyer]

Week 4

Aero Puncher:

The Aero Puncher is not just a device; it's a game-changer for anyone looking to optimize airflow in various materials and surfaces. Whether you're a DIY enthusiast, a professional craftsman, or someone managing industrial operations, the Aero Puncher streamlines the process of puncturing precise airholes with unparalleled efficiency and accuracy. Say goodbye to tedious manual drilling or unreliable methods; with the Aero Puncher, you can effortlessly create uniform airholes in a fraction of the time, regardless of the material's thickness or composition.

Experience the ease and convenience of achieving optimal ventilation and airflow with the Aero Puncher. From enhancing the breathability of fabrics and upholstery to improving ventilation in packaging or industrial applications, this innovative device empowers you to elevate your projects to new heights. With the Aero Puncher in your toolkit, you'll unlock a world of possibilities, saving time, effort, and resources while achieving superior results with every use. Say hello to precision puncturing and goodbye to inefficient methods with the Aero Puncher – the ultimate solution for optimizing airflow effortlessly.

[sara-boyer]

Week 4

Marketing Persona: Emotionally Connected Emma

About Emma: Emma is a 32-year-old marketing professional working for a medium-sized tech company in an urban environment. She values personal connections, cherishes memories, and seeks meaningful ways to express affection and gratitude.

Use Case: Emma uses Wavelength Wearables to capture special moments and sentiments from her loved ones in a unique and tangible form. She enjoys wearing personalized jewelry that resonates with her emotions and allows her to carry cherished memories wherever she goes. Previous Solution & Pain Points: Before discovering Wavelength Wearables, Emma struggled to find personalized gifts that truly reflected her emotions and sentiments. Off-the-shelf jewelry often felt generic and lacked the personal touch she desired. She yearned for a way to preserve meaningful sound clips from loved ones in a wearable form.

Benefits: Wavelength Wearables provide Emma with a perfect solution to her need for personalized and emotionally significant jewelry. She appreciates the high-quality craftsmanship and the ability to engrave sound waves onto her chosen piece, creating a unique and cherished keepsake.

Buying Trigger: Emma seeks out Wavelength Wearables when she wants to commemorate special occasions such as birthdays, anniversaries, or milestones. The desire to capture and preserve heartfelt moments drives her to explore personalized jewelry options. Buying Process: Emma typically researches online for personalized jewelry options, looking for pieces that offer both quality craftsmanship and customizable features. She values user-friendly websites that offer clear product descriptions and customization options.

Choice Factors: Emma prioritizes jewelry pieces that allow her to express her individuality and emotional connection to her loved ones. She looks for designs that are modern yet timeless, and she values companies that offer seamless customization experiences.

Conclusion: "Emotionally Connected Emma" represents a key segment of Wavelength Wearables' target market. By understanding Emma's preferences, needs, and buying behavior, the company can tailor its marketing efforts to resonate with her emotional connection to personalized jewelry and meaningful moments. This persona serves as a guiding framework for crafting messaging, designing user experiences, and reaching out to potential customers who share similar characteristics and motivations.