Lesson 3

The Hard Part

This was the week in the $100.00 challenge that I was somewhat dreading.  One thing that I have always struggled with in my life is planning effectively.  I have never been the best at correctly judging time, cost, or milestones to judge where a particular project might be.  So, for the business plan assignments,  I was in an uncomfortable place because I knew I would need to draw upon these skills to effectively complete this assignment.

One thing I realized about the business plan, when it comes down to the specifics, for example, the sales targets, I am nearly guaranteed to be wrong.  Because of my mathematically-focused brain, it makes me uncomfortable to think that I cannot be certain, I guess I found a skill to work on when it comes to entrepreneurship: managing uncertainty.

There are a few ways that I think I can work on this. The first is realizing that there is a plethora of uncertainty in any start-up, and that it is my job to manage it.  The second way to deal with this uncertainty, is to surround myself with the right people who can understand uncertainty and offer ideas on how to manage it.  Third, I need to understand the market and my customers, since customers are the driving force of any business, understand the customer's needs is crucial.