Lessons Learned Blog First Post

Well this has been an interesting first 2 weeks. In the beginning of this class, It just kind of threw us into a large pool of new terminology. We were taught that we were just going to be thrown in the middle of it and given the opportunity ask as many questions as we want. Most of the time I don’t know what kind of questions I need to ask, but they tend to come to me as we go to the class. The first part of the class that I think is actually really helpful is learning from the case studies. (http://emp.byui.edu/LUNDINK/250/02dotcom.htm )

They help us to see real world examples in which the exercises were doing in class help us to discuss and talk about the different themes and Concepts that we need to learn. The first case study made us ask questions: like what kind of business models are on the internet? and how we could brainstorm ideas for businesses? Using the real world example of Joe and his crew, we get to see how it’s possible for us to be in the same situation. It was eye-opening to see that many of the models we use on a regular day basis such as going to stores and things, many of these can be applied to an online business model as well. I never thought of businesses being viewed in this way. Most of our discussion in class has helped me to realize that there are many different ways to make a business happen. One of the tools used to make a successful business was the use of Google ads or AdWords. The past few days of the class going over the different sections of AdWords, and has given me a idea of what it will take to make a business. And having tools like Google ads will give me the courage I need to step out of my comfort zone and make a business.

Our second case study was about demand and competition. (http://emp.byui.edu/LUNDINK/250/supplierproj.htm ) With the comparison of chest to snowboards we were able to see how the different businesses would survive and which one was better for the group to choose. It was interesting to see which words were best and which words gave us the most Impressions and clicks and cost-per-click all of those different elements of Google AdWords. This is a great starter for us understanding what it will take to create a business. Our latest discussion was about sourcing the product either using a broker manufacturers and wholesalers and what they mean and how they are a part of an online business. The exercise we did in class was looking at different references in the way of online stores, that will give us an idea of what distributor and what type of business model we want to pick up.