#rhonda abrams

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Final Project: Business Plan

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Solidifying Business Plans

The Business Plan and Development course at Full Sail University has been one of the most influential courses I have taken because it is preparing me for my future.  The course has been all-encompassing because I’ve been able to apply all of the wonderful techniques, strategies, and skills that I have learned from previous courses.  Building my formal business plan for my fashion design company is helping me identify strengths and weakness that I need to address.  During the initial Mastery course at Full Sail, I established some pre-set goals for this course, shown in the image below.

I surpassed my initial outcome because I feel as though the amount of research that I have conducted on the retail industry, the financial information that I’ve collected, and the brand-building factors that I’ve learned have made my business plan much stronger than I anticipated. The details of the plan are more in-depth than I imaged, which is fantastic. The more details I have in place, the more I will understand the industry.  Additionally, having details and outlining backup plans will contribute to my company’s success because I will know how to take action against the competition and can prepare my plan in a way that avoids unnecessary setbacks.  

In terms of my self-study goals, I highly recommend Rhonda Abrams book, Successful Business Plan: Strategies & Secrets to anyone that is interested in becoming an entrepreneur. The book is thorough and offers detailed examples about the component of a formal business plan. It is essential to have a well-written plan in place so the success and full potential of the business can be met. 

Secondly, Lisa Gansky’s TED Talk helped me re-affirm the importance of “sharing”. Gansky mentions the human attraction to creating something and then having the ability to share it with others. I will incorporate this concept as a foundational factor of my company’s mission because I also believe that people are drawn to something that can be shared. My company will donate 40% of net sales to global missions that help give children around the world a better life.  

Lastly, as an artist I sketched several storyboards and journaled about the theme and overall company culture that I want to achieve for my business. Putting my ideas to paper helped me define a strategy and fine-tune the overall look of my company. I strongly suggest writing down ideas and sketching out your concepts. The act of physically putting the ideas onto paper forces a person to think about the logistics of the plan. It doesn’t have to be complex, and you don’t have to be an artist. Simply sketching out some simple shapes, or even squiggles, can at least help you conceptualize the look you are trying to achieve.  Additionally, writing down ideas will help you evaluate them for realism and tangibility.

In the future, I will use the concepts from this course by continuing to tweak my business plan so that I can operate effectively. For all future and current entrepreneurs, I feel that it is always beneficial to take a look at your current standing because it forces you to evaluate your current operations.  Through your analysis, you can determine whether or not you are meeting the demands of your customer and industry. The biggest lesson that can be learned from this course can be summarized in three characteristics.  

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Read all about it!

Team Jenn made it into a book! Yahoo! We're proud to announce that Team Jenn has been featured in Hire Your First Employee by Rhonda Abrams. Rhonda is the owner of The Planning Shop-a publisher of best-selling books and software for entrepreneurs and small business owners, a regular contributor to USA Today and she has a nationally syndicated business column! Whew! Sounds like the type of girl who belongs at Team Jenn.

The how-to guide is fresh off the presses, so get one while it's hot! The success story features Team Jenn's innovative benefits package that includes yoga and reimbursement for biking or walking to work. Jenn really knows how to keep her people happy and fit to boot!