Saturday, January 25, 2020

MKT 250 Web Business Creation Week 3 Reflection: Sourcing the Product



This week we studied about sourcing products for our online businesses.  We specifically studied about manufacturers and wholesalers in the United States as well as many international manufacturers and wholesalers.  We studied about deciding between drop-shipping and affiliate sales and which methods would be good under which type of circumstances.  I think the case studies are a bit silly, but I also see how they are helping us to be able to apply what we are learning about in a safe way and be able to discuss it with the classmates helps us to see many different perspectives that we would be blind to otherwise.

We learned how to quantify and compare between different options to help us see what may be the best solution for us between a few options in regards to several criteria.  We learned about the following top affiliate networks: 

  1. Commission Junction
  2. ClickBank
  3. LinkShare
  4. Affiliate Window — A UK based affiliate network
  5. ClickBooth
  6. Amazon
  7. Shareasale
  8. Google Affiliate Network
  9. OurFreeStuff

Some resources we were given for wholesalers are these websites:

I am devastated by the amount of fraud that happens as well as seeing the amounts that you can purchase items for is so low from China that it makes me sad thinking about how there is no way that those companies are paying the workers a comparable living wage.  I want to make sure that I am choosing wise business practices that help lift all within my circle of influence and that I remember to be a wise steward.    

This week, I realized that there was no way I was going to be able to do all the things I need to do as a wife and mother plus be able to study and create the business I want without making a change.  I had to drop another one of my courses, so I only have two this semester.  I learned that I needed to focus my efforts.  My health was suffering, and I was speedily losing abilities. If I want to be able to do anything at all, I knew I had to simplify. It has helped and I hope to be able to move forward from here. 

Friday, January 17, 2020

Web Business Creation -Week 1- Reflection

I have only a few semesters before I reach my goal of getting my bachelor degree.  This semester I am taking three courses. SCM 361 Production and Operations Management, Bus 310 Launching New Ventures, and MKT 250 Web Business Creation. I was excited about these courses, but as I have gotten into them the past two weeks, I am saddened by the amount of busy work that has been thrown into them.  I value true learning not irrelevant activities that do not allow me to actually learn and prevent me from being a wise steward of my time in my sacred obligations. 

This week in Web Business Creation we have been studying about choosing a business, Business Model Generation, Demand and Competition

Some of the readings we did were:
Russell Brunson and His Secret Magic Box  Video: http://digitalenterprise.org/models/models.html
http://bizthoughts.mikelee.org/brainstorming-business-ideas.html
business models online:   http://digitalenterprise.org/models/models.html
Entrepreneur.com's 3 pointers for Choosing a Business to  Start

We were given a couple spreadsheets to help us choose between a few different ideas. they talk about: Brainstorming and Screening Web Business Ideas,Inputs,Demand,Competitive Levels,Suppliers,Start Up Cost,Time Requirements,Profit Potential, and Recommendation.

I feel like I have been drinking out of a fire hose this semester.  My confidence is shaken and at this point I hope I survive this semester.