University of the People
Entrepreneurship 1
Written Assignment Unit 6
For this weeks assignment I will try to simulate how would I build up a company for folding door distribution. According to market research there is a gap on the market for quality and expensive folding door products. In general the market segmentation is largely skewed toward cheap products but those who want to buy better products are not served well. Since this assignment is more about team build up I will just mention few very important steps before company launch. I skip the business plan, business model and marketing plan development.
Preparations
I have enlisted all folding door producers and tried to gather as much info about them as possible. I was mainly
…show more content…
Since there are 8-9 different colors of 8 types of doors we had to make chances and stockpile some doors we assumed might be popular. The “shaper” (Kirby, 2016) made couple of good connections but the majority of sales were through Internet. We had to engage a “company worker“ who helped us to organize the orders and shipments so we could more focus on sales and discovering new markets. The “company worker“ managed to balance in and outflow of goods in an economical way so the profit raised. For now, neither of the teammates had salaries perhaps some pocket-money so the majority of the capital could be re-invested, for example we created a web site: harmonika-ajto.hu, katalog and payed ads.
Motivation
The main motivation for all of us was a creation of a profitable business which could make us a decent earning in the future. We were all aware that any business in the beginning is like a baby which should be nurtured and cared off. This is what we have done, slowly expanding the business and trying to make as few mistakes as possible. All three of us had its steady income from other resources hence this was a part time project for all. Nevertheless it was crucial that we were all very different and could shape the venture in many ways.
Reference:
Kirby, David A. (2016) Entrepreneurship, Team Building and Conflict Resolution, Available from: http://highered.mheducation.com/sites/0077098587/information_center_view0/table_of_contents.html
Words: