GEM

This week we had some readings to check out. The reading about GEM is to describe how we, as entrepreneurs are able to get a business idea started. Gather Enhance and Market. First thing we need to do is find a specific idea and gather as much information we can about the idea. Next we enhance he idea and cultivate it into something greater. The reading descirbes this phase as the part where you turn lemons, water and sugar into lemonade, or taking your idea and changing it into something great. Then it is time to market that idea and find a way to captialize on the enhanced idea you have created. This stage is the part I most look forward to in starting up businesses of my own. I feel I need the most help in this are so much trial and error will be necessary.

Overall, this week I have been in the gathering stage. I have been researching what I need to prepare to start in both my $100.00 challenge and my Big Idea.

Ideas

This week we were given an assignment to come up with 40 different ideas for business ventures. This was a challenge for me. I felt like some of my ideas were resorting to things I did as a child, like make and sell crafts, that sort of thing. As I brainstormed I tried to recall my skills and what I have learned from other businesses. WE were given an article to read that had some great tips, one was to combine two businesses, unrelated, and make them work together. This was my favorite thing to think about and although I didn't come up with much I found the ideas and brainstorming to be refreshing. I started getting excited about the things I could do.

I've learned that entrepreneurs are those that make things happen and don't care so much about what others think of them. After all, if I have the idea and I would want to invest in one of my businesses there must be someone else who thinks its a good idea too. I've learned the best way to do a business here in Idaho is probably online. We have a limited audience and being able to break outside of Rexburg will do much more business. I will need to be active  in advertising though, so people can find my site. I can do self-promotion through social media and networking. Etsy, is a handmade sellers website I think I might utilize for this. It has limited costs and is a way to connect with other handmade sellers, as you can "circle" a group of business owners and get linked to their site. 

This week I also spoke with my uncle, an entrepreneur. He gave me great advice about what makes a business thrive and he strongly believes continued passion and sharing that passion with others is a strong way to make a business keep running. Through his advice and the studying done this week, I have been sharing my ideas with others and getting a feel for what people are excited about.