Randall Marley Blog

1) Opportunity:  Roughly 70-80% of business fail within a year, for any number of reasons. One of the reasons businesses fail is because owners have lack business experience. This creates an opportunity for business coaching. In other words, people with successful experience can help people that are new to the field. I believe the opportunity exists because small business with very few employees will likely come across areas in which they have no expertise in and instead of hiring a full-time employee to handle it, they can hire a coach to help them for a short period of time. This market is not limited by geographically or demographically because there are businesses be created all over the country. I also believe that creates the window of opportunity to be very wide. Innovation: The service I am offering is business coaching, this will help struggling businesses or first time business owners with little to no experience connect with more knowledgeable and experienced p...

1) What was the general theme or argument of the book? The general theme in  How to Fail at Almost Everything and Still Win Big is that you can embrace failure and learn to use it to your advantage. 2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003? This book enhanced my learning, because a lot of the things the author says I can apply to my ENT3003 assignments. For example, he talked about adults constantly enduring criticism and going up to weeks without honest praise. According to the author not praising people when they have impressed you was like a disservice to society. This made me look back at all the times I have done peer reviews in this class and me think how can I do better. 3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve? One of the things the author talks about is that you shouldn't hesitate to change your mind. The exercise I would mak...

1) I plan to grow the business as much as possible in the first 3-5 years and if I get a good enough offer I would sell the business. I don't see myself staying with this business for several decades. 2) My business strategy can be copied fairly easily and if successful I see many competitors popping up and lowering my market share. I would sell my business and not deal with potential over saturation and go on and try another venture with the money I have made from selling the business. 3) My exit strategy has not had a large impact on my decisions regarding opportunities and resources. I think the key to having a successful business coaching business is to staff very experienced and knowledgeable coaches. That is not impacted by whether or not I sell the business 5 or 20 years into the future.

1) Early on in the semester I had failed to submit my assignments correctly, I had accidently left my blogger profile to private and the 3 assignments due that week I had submitted did not score me any points. 9 points is almost a letter grade in this class and It was frustrating to be so behind early on in the semester. It was discouraging, and I almost dropped the class, but I decided to push on through. 2) I learned to correctly submit my assignments, while more importantly I also learned how to push on through the semester and get out of this hole I put myself in early on in the semester. 3) Failure is discouraging at first, it makes you want to give up, and it is hard to overcome. However, those reasons are what makes success worth it, you have to overcome your failures in order to succeed. I have always handled failure fairly well mainly because I have been able to learn from it. I see failure as an excellent way to learn what not to do. I have not changed my perspective on f...

Opportunity:  Roughly 70-80% of business fail within a year, for any number of reasons. One of the reasons businesses fail is because owners have lack business experience. This creates an opportunity for business coaching. In other words, people with successful experience can help people that are new to the field. I believe the opportunity exists because small business with very few employees will likely come across areas in which they have no expertise in and instead of hiring a full-time employee to handle it, they can hire a coach to help them for a short period of time. This market is not limited by geographically or demographically because there are businesses be created all over the country. I also believe that creates the window of opportunity to be very wide. Innovation: The service I am offering is business coaching, this will help struggling businesses or first time business owners with little to no experience connect with more knowledgeable and experienced pro...

Existing Market Step 1: I think marketing my service would be the next or finding a way to increase services I offer. Step 2: When I Interviewed the three customers who are already part of my existing market and asked the what they belived is next one of the said to start marketing while the second interviewee said to look for potential investors or partners. The other interviewee did not reply with an idea. Step 3: Based on the feedback I received I should primarily be focused on finding ways to grow my business whether it be through finding investors or marketing it to my existing market. New Market Step 1: I am currently marketing primarily to B2B who are struggling with their business or have no experience running a business. I could target a more experienced businesses and larger more successful ones. Step 2: I could instead of offering business coaching start offering consulting services. Step 3: I found two people who fit this market segment, one person works for a la...