Thursday, June 15, 2017

Lemonade Day

Lemonade Day will be hosted by Whole Foods, located on 100 S. Green Valley Pkwy Henderson, NV 89012. Our big day will take place on June 24th, 2017 starting at 2:30 and ending at 4:30 p.m. We will have four students who volunteered from Cunningham Elementary and two TA’s to run the event. Our start-up funds are $80 that have been both graciously donated and loaned to us from P.F Changs. There has been a lot of planning and developing a marketing plan for the success of this event. Mental visualization will help you perform better when you are in the actual situation” (201). We will only offer lemonade. No other flavors or products. This is to reduce food cost and confusion with the kids, and increase our profit. After all, we do have a loan to pay back. The whole point of this event is to get the kids out and teach them the basics of entrepreneurship. So, that they may take this with them throughout their years and develop something that is of demand in the future. People spend money to buy things they want or need” (201). People like to spend money on things that will help a cause, improve their life, or absolutely need to live, such as food and drinks. Who wouldn’t like a nice, freshly squeezed lemonade on a hot June day? Once they catch wind that it is benefiting children, there is no resisting then.
“Your business, no matter how humble its beginnings, may have the potential to grow into a multimillion-dollar company, so it is important that you think through every step of its development. How you define and refine your product or service will have a tremendous impact on your ability to grow” (159). Now think of it, a lemonade stand is quite the beginner’s first step to entrepreneurship. Like the quote said, it can one day become a multimillion-dollar company. Who knows, maybe one of these kids will take home what they learned and within the next decade or so, they have their own shop! Knowing that we can make an impact in their lives today that will have effect later in life is the best thing one can do. We must always prepare our young to become the next generation of leaders. “The culture of an organization is largely shaped by its leadership. Culture is composed of the core values in action. Leaders of a company build a particular culture by making the beliefs, values, and behavioral norms explicit and intentional” (97).
Now first things first, we must locate our source of products. For this event, we will use our location and receive our products from Whole Foods. Then we will have to price it all out and see how much a cup of lemonade will cost to make and how much we can sell it for. Now, the recipe is simple. It’s simply: water, lemons, and sugar. So, we could sell a cup of lemonade for $4. This price will cover the food cost, the cup and not to mention our stand and d├ęcor. If we sell 50 glasses in those 2 hours, we will make more than our loan and food cost put together. So, that’s $200, minus our loan which is $40 and leaves us with $160. After our expenses, we will end up with $120. Leaving the children with $30 to themselves. This is what we plan to reach.

“The vision for your business is broader and more comprehensive than its mission, painting a picture of the overall view of what you want your organization to become in the future, not what it is at the moment. It is built on the core values of the organization. It should energize your people, and they should embrace it with enthusiasm and passion” (97).

“Translating opportunity into success can and has happened in literally millions of different ways. Each business has a different story. However, there are three primary routes in the deliberate-search process to identify opportunities:
·         The entrepreneur looks for business opportunities through a process of identification and selection, beginning with self-developed (or group-developed) ideas.
·         The entrepreneur uses essentially the same process but starts with research on hot businesses, trends, or growth areas.
·         The entrepreneur has an idea for a product or service and searches for a market” (98).


   Ms. Cubillo,

On behalf of Cynthia Cunningham Elementary School, I am more than happy to allow four students participate in your event. They will also be accompanied by two TA’s to assist in the set up. This is a great opportunity for our kids to become the next entrepreneurs of their time. Thank you for hosting this event. Please don’t hesitate to contact me with any further questions.

   Dr. Joyce Brooks
   Cynthia Cunningham Elementary


   Dear Ms. Cubillo,

Thank you for reaching out and allowing us to be a part of your event. We will be more than happy to sponsor Lemonade Day, which will teach young children to think and make something of themselves. This is a great opportunity for them to learn that if they put in the effort, they will reap the rewards. We will donate $40 and loan $40, for a total of $80, thank you again.

   Gina Kriesel
   P.F Changs

Wk 9 EOC: Monetizing Lemonade

Children setting up lemonade stands is a norm during the summer. Now how can we as adults monetize it and make it into a successful year-round business? Well, we take what society wants, lemonade, and we provide it to them in the most efficient, trendy way as possible. Millennials are now into the earth friendly, artisanal trends, so feeding that would ensure success. Now think about it, what does lemonade consist of? Water, lemons, and sugar. That’s it. So, the food cost for this business wouldn’t be the most expensive thing. Now to make it appealing, we’ll call it Life’s Lemons, and design the shop into this natural, hip, down to earth, lemonade house. All we would sell is lemonade, and it would be made in house, daily. We’ll offer different flavors such as, The Original, Raspberry Lemonade, a Peach Lemonade, a couple of others and for those who like their bubbly, a Sparkling Lemonade. Obviously, the extra ingredients will cost a little more on the P&L but it will bring in more profit. We will offer only one size at a reasonable price depending on the flavor you choose. The whole experience is meant to be relaxing, and social while enjoying some delicious lemonade. 

Wk 8 EOC: Lemonade Day at Whole Foods

For the project, I'm supposed to get written approval from an elementary/middle school or a Boys and Girls Club to allow us to have four or five kids to volunteer for our project. As our project is encouraging young children into becoming entrepreneurs in the future. I have yet to get their approval. Another issue that would need to be resolved is to come into contact with fresh, spring water for the lemonade, holding the ice at temperature, and the lemonade in a cooler. These are minor things that can easily be resolved. By next week, I will have the written approval, some price points on the products needed and a start up price for the whole project. As of right now, I'm thinking the start up price for the project will be around $30. This will include the lemons, sugar, water, ice, cups, and lemonade stand.I'm fairly excited to see this project go through, as we will be working with kids and encouraging them to make something of themselves. 
We would also need to get the proper permits to set up and sell lemonade at the Whole Foods Market on Green Valley and the 215 Freeway.
Our goals with the kids is to have them set up a goal: make some money, make a plan: the lemonade stand, work the plan: sell lemonade, and achieve their goals: make money. 

Some things that I will need to have ready for next week's class are:
15 quotes.
Letter of approval.
Cost Structure.

Wk 6 EOC: Developing a Marketing Plan


When developing a marketing plan, one must know the core values of the business. This way, when potential investors come around, they can be rest assured on the quality of business. My marketing plan is a small restaurant/class concept, where the couple or guests make a reservation and choose from the different specials we have for that week and they can work with the chef who will go through the recipe step by step on how to make it. This will be an open kitchen so the guests can have full interaction with the chefs at work. Every week we will change up the menu so the guests can learn different recipes whenever they'd like. This restaurant will have a capacity of 20 people. Although that is a small group, our business will come from guests who enjoy the experience. There

When developing a marketing plan, one must know the core values of the business. This way, when potential investors come around, they can be rest assured on the quality of business. My marketing plan is a small restaurant/class concept, where the couple or guests make a reservation and choose from the different specials we have for that week and they can work with the chef who will go through the recipe step by step on how to make it. This will be an open kitchen so the guests can have full interaction with the chefs at work. Every week we will change up the menu so the guests can learn different recipes whenever they'd like. This restaurant will have a capacity of 20 people. Although that is a small group, our business will come from guests who enjoy the experience. 
  • "demonstrating to potential investors that your company can grow and offer returns.
  • identifying the most beneficial target markets for the organization,
  • evaluating the competitive and industry environments,
  • illustrating the pricing strategy, and
  • detailing the promotional plan and budget" (185). 

Wk 5 EOC: Still Hanging In There

Strategic Game: Smart Is Dumb, Dumb is Smart


A businessman was talking with his barber, when they both noticed a goofy-looking fellow bouncing down the sidewalk. The barber whispered, "That's Tommy, one of the stupidest kids you'll ever meet. Here, I'll show you."

"Hey Tommy! Come here!" yelled the barber. Tommy came bouncing over "Hi Mr. Williams!" The barber pulled out a rusty dime and a shiny quarter and told Tommy he could keep the one of his choice. Tommy looked long and hard at the dime and quarter and then quickly snapped the dime from the barber's hand. The barber looked at the businessman and said, "See, I told you."

After his haircut, the businessman caught up with Tommy and asked him why he chose the dime.
Tommy looked at him in the eye and said, "If I take the quarter, the game is over."

Thursday, May 4, 2017

Wk 4 EOC: Farrah Gray



5-24 Farrah Gray is a master of integrated promotion. List the promotional methods he has used and why he may have selected each.
   -He writes for the National Newspaper Publishers Association, which reaches 15 million readers over 200 different papers. This is how he gets his word out into people's lives and encourages them. "He is a professional speaker on topics that include financial management, creativity, personal development, and leadership. He has been many times in print and on broadcast media" (4). Since, his story is quite extraordinary, many will always be intrigued by what he has to say. Hoping that they could become successful, themselves. 

5-25. What is the most interesting part of his story for you? Why?   -The most interesting part of the story is that he was He was a self-made millionaire by age 14! Most kids at that age, including myself, weren't thinking about becoming an entrepreneur at that age. We were thinking about playing and having fun, and that's what differs between him and us. He saw an an opportunity and took it. That's what entrepreneurship is all about. "Entrepreneurs are often both owners and employees. For an entrepreneur, the sky is the limit as far as earnings are concerned. Unlike an employee, an entrepreneur owns the profit that his or her business earns, and may choose to reinvest it in the business or take it as payment" (4). 

5-26. The Farrah Gray Foundation serves as a vital part of Gray’s activities. Explain how it is important.
   -The Farrah Gray Foundation is important because he himself is a great motivation to work make something of ourselves, but this foundation can make those dreams possible to those in need. "This was followed by the establishment of the Farrah Gray Foundation, which supports scholarships for students at historically black colleges and universities (HBCUs) and promotes youth entrepreneurship" (4).

5-27. If you were going to meet with Farrah Gray, what would you want to discuss and why?
   -If I were to meet with Farrah Gray, I would first ask what motivated him at such a young age when we barely have the concept of jobs and entrepreneurship. Then I'd ask what kept his going, and what the hardest part for him was. He is a motivation to all of us, for he made something of himself when others just had fun.

Wk 3 EOC: Miranda

Miranda is a BBC comedy show, that involves Miranda, the main character, her mother, best friend, and a guy that she likes. In one of the Christmas specials, the episode was about her struggle to keep her shop from being repoed from the bank. It was up to her to fight for the shop since her best friend gave up the struggle for another job. There were several mistakes that she did that could have easily, if done right, given her the shop back, almost immediately. "A well-written plan will show investors that you have carefully thought through how you intend to make your business profitable. The more detail you offer investors about how their money will be used, the more willing they will be to invest. The financial projections should be realistic and attainable. Your plan should be so thoughtful and well written that the only question it raises in an investor’s mind is: “How much can I invest?” (45). This was her worst mistake. She had two chances to prove to the banker that she was serious about her business and could have actually shown him her concept, financial projections, and marketing plans to promote success. Instead, she made crude jokes about his name, didn't take any questions seriously and wasn't prepared for the evaluation. "The transition may be bumpy, because the process of writing a coherent plan will require answering difficult questions. However, in addition to guiding you as the entrepreneur, developing the plan will generate an increased clarity of vision, mission, and goals for your entire team" (45). You would think that you'd have your families support in something like this, well, Miranda did have her mother's support, but she was just t as bad as her daughter. Neither were prepared, behaved foolishly and this made them look unprofessional who couldn't run business. "As a business, ethical practices involve doing the right things and doing them ethically. There is a potential conflict between strategic priorities and ethical behavior. Profit maximization is one of the most common challenges to ethical behavior" (438).