B283 – Week 5

Opening the Windows of Heaven
I was very touched in Elder Faust’s talk when he shared about his grandfather’s tithing payment during the depression. This talk helped me to reflect on my husband, Blake, and I’s experience this semester. We have worked, sacrificed, and saved to be able to come live downtown Atlanta for him to attend GA Tech and we set aside a certain amount of money for his tuition this semester, but we ended up using 1/3 of what we had calculated. This great blessing came, I believe, as a result of sacrifice and diligent tithing paying. I am so grateful that God opens the windows of heaven and I know that I have been a recipient of His great generosity and miracles in many ways (health, financial stability, social opportunities, academically, etc.). My faith and trust in God supersedes my own calculations and work. Through HIS mercy and with HIS strength I can do all things.

BLOG – Guy Kawasaki: The Art of Branding
For my blog this week I read an article about branding. There were a few interesting points I want to highlight. A thought that struck me while reading was that of self-branding. Marketing a product is important and necessary, but I realized that as an individual and an entrepreneur I’m really branding MYSELF in every interaction I have with others. One of the most valuable time investments I can make is contributing to my own character and moral ethics as well as my skill set. The next principle that stood out to me was that of the “jargon” test. Kawasaki recommends running a brand positioning statement by your parents to be sure there aren’t words, phrases, or acronyms that are unfamiliar to the general public. I need to especially remember this with the business I want to go into since there are many opportunities for culture-specific language and terminology where there is potential for consumers to get lost.

Guy Kawasaki: Funding Choices
“Money warps you.” I found this statement very interesting and relevant. I’ve found in my own life that keeping a firm grasp on my finances has helped me to live with MORE freedom, regardless of the dollar amount in my bank account. I also think that the better relationship I develop with money, where it doesn’t intimidate me or feel unattainable, the more I can relax when I receive it and mange it effectively. I want to be able to balance between spending money recklessly and hoarding it as if I’ll never get paid another dollar in my life. There are many principles of savvy-spending that can carry over from personal finances to financing a business.

Peter Diamandis: Energetic Fundraising
“When you ask for money you often get advice; when you ask for advice you often get money.” Strive to build relationships with groups of people and individuals rather than looking for money. Money is a transfer of energy and confidence from the giver to the receiver.

$100 Project Update
This week I had a chance to evaluate the budget necessary for my plan. One thing I realized was that with a service-based company it may appear that my initial investment is low, but I have to calculate the hours and time spent and consider how else that time could be spent and what other possible incomes I am surpassing by allocating my time to this project. As a student I spend many hours a day with my studies and by taking time to build this company I am taking time away from my studies. In the long run, the ROI of graduation is higher than the ROI of my business, but I have to also consider that my GPA won’t necessarily affect my future income levels with my graduation, so it is a good trade-off to earn cash doing entrepreneurial ventures while in school as long as I can maintain my classes enough to accomplish my assignments.

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