UPDATE on Progress of Start-Up Venture -Week 8
What is working?
The Term Project business which kicked off on June 7, 2020 continues with a great expectation to make a headway in the business. I have operated the business for four weeks ending July 4,2020 and realized a cumulative Sales Revenue of $530 including TIPs of $151. After taken off the TIPs, the sales revenue represents about 44% of the revised projected revenue of $860 for the term project duration. I have successfully completed 48 customers deliveries for 11 days of working within the allotted time as against my projected deliveries of 33 for eleven days. There were no sales in one of the eleven days.
What is not working?
On the second day of starting the delivery business, there was no sales within the time allocated to me to work. I considered that day as one of learning period when you are venturing into a business you don’t know much about the rudiments. It afforded me the opportunity to learn and strategize for subsequent days’ activities.
How do you feel the project is coming?
Its progressing according to my budget expectation. I realized additional income in the form of (TIPs) through customers’ appreciation in my customers’ service approach.
What are you learning about running a business?
I continue to learn more about being time conscious, planning the day’s activities, strategizing, remaining focus, have a target set for myself, be flexible in my approach to issues, reach out to others when I am confronted with issues, have a customer-relationship attitude, Saying Thank you always, Going above and beyond.
What are you learning about yourself?
I continue to build up my self confident, to be patient with customers, empathise with customers when there is a need for it and ready to learn new things along the way.