UPDATE on Progress of Start-Up Venture -Week 11
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 six week ending July 25,2020 and realized a cumulative Sales Revenue of $1,588 including TIPs of $412. After taken off the TIPs, the sales revenue represents about 136.7% of the revised projected revenue of $860 for the term project duration. I have successfully completed 143 customers’ deliveries for 22 days of working within the allotted time as against my projected deliveries of 66 for twenty-two days.
What is not working?
Everything seems to be going on smoothly as planned. Although, on the second day of commencing the delivery business, there were 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 and exceeding 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?
Time consciousness, planning the day’s activities, strategizing, remaining focus, have a target set for myself, flexibility to issues, reaching 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 level, be patient with customers, empathise with them when there is a need for it and ready to learn new things along the way.