Week 15 Reading Reflection

1) The company only gives out loans to women, because they are better investors according research they conducted.
2) I'm just a little bit confused about the pressure system.  I would be worried that with other women paying off others loans that might lead to problems in the household.
3) How are people able to live on $1 a day?  In places where inequality of women is an issue, how would your business work there, wouldn't anger arise from the men?
4) No I don't think the author was wrong about anything, the business article was an interesting read.

Week 14 Reading Reflection

1) What stood out to me the most were the different ways they author provided to encourage innovation in the work environment.
2) I wouldn't say it was confusing but I wish the author provided more examples on how to prepare for failure.
3) With more businesses join social media websites such as Etsy and Pinterest have increased exporting?  (same question), how about with importing?
4) No there wasn't anything I disagreed about.

Very Short Interview, Part 2

I interviewed Paula Herron of Paula Herron Photography in Virginia Beach.  We communicated through email.  Now that I have some idea or knowledge about entrepreneurship I felt more comfortable asking questions.  Three months ago I would have felt I was asking to personal of questions or pushing the boundaries.  This time around I asked her questions that I have been thinking about throughout the semester.

1.  As an entrepreneur in Marketing to a specific target market, what are some of the most important points you must address?

 

Each segment or audience requires a specific tactic in order for me to reach them. Even though I am offering the same photography service, I cannot address single men the same way I address a single female, nor do I market the same way to the “father” of a family the same way I do the “mom” of a family. But when it comes to weddings I target them all the same. They are stuck together like glue and try to please each other so I am really appealing to a couple and the parents.

My business is a very emotionally driven one. So if my images and marketing strategy pulls at their heart strings, I have a better chance of selling myself and my products.

 

2.  Have you had to change your product line much, such as packaging and final product over the years?

 

Yes, it is hard to keep up with trends. While my final product is truly an image, it is displayed in many different ways. My images are framed using paper, canvas or even metal; displayed in albums; cut and are stuck on kids bedroom walls as full size images; or even commercial posters or displays. Not to mention the many images that only are given out as digital files and are placed on the internet for sharing or marketing use. Once they were only 8” x 10” or 4” x 6” images displayed in a book. This have changed and continue to change.

 

3.  You have mentioned you have a small business, how much time do you commit to your sales and marketing?

It is actually a huge part of my business. With my business plan, I have committed several hours each day to working on social media, returning calls to prospective clients, updating digital adverts I may have out there and putting together my monthly e-newsletter to current clients. My best clients are my list of current ones. I send them a monthly what’s up and if I have any specials going on – Holiday treats. They bring me in my “word of mouth” new clients.

I have my name in the phone book and that also feeds to the online searches which is great and is what links to my website. Google search, SEO, is huge, so I keep checking that out making sure I am close to the top with my Google words.

Social media such as Facebook, Twitter and Linked in get me a bunch of leads too. Since I am my best marketing person, I spend about 2 hours with my morning coffee keeping up on things daily. It takes time and between the calls it is worth it. Because, once I grab my camera, I do not have time to stop.

Week 13 Reading Reflection

1) One part of the reading that I found impactful was on page 484.  Here the author arranged a list of what entrepreneurs should ask themselves when starting a business.
2) There really wasn't much that was confusing.  If anything I had to reread over the differences between a manager and entrepreneur's mind-set.
3) Would you say that having a combination of managerial and entrepreneurial mind-sets would be beneficial? Did you write this chapter based on your experiences or did you have to collaborate with others?
4) The description of a small business I feel no longer really applies as it used to.  Now a days a "small business" can have a far reach to customers outside their main location with the help of the internet, social media, and postal services.