Lesson 2 – B250 Reflections

So I had until Thursday when tuition had to be paid, or I would incur penalties, to decide if I should stay in this class or drop it. I have have already dropped it once and then put it off because I didn’t know what I could sell. I still really don’t know, but the exercises this week have helped me feel like I could do something, anyway, I just need to stay with it and get this done. My husband and daughter even offered their services to sell.

This time I did some brainstorming with my husband and daughter. That really helped. They helped me think of ideas to write down. We had to also determine the business model that we would use. I’m not very clear on them at all. I need to do more studying about them. Then of course, I had to figure out and look up keywords in Google Adwords. It was interesting to see where the competition was and where it was not. The exercise recommended the low competition ideas. When we did the exercise with snowboarding and chess, I found that there is a lot of competition in the snowboarding arena, but not so much in chess. We didn’t all agree, but most of the class felt that finding a niche in the chess category would be more successful than trying to break into the snowboarding market. It was mentioned that it would really cost a lot to get any of our ads to show up in the snowboarding market. I’m still not sure how all that really works but we have to pay per click for someone to click on our link and it costs more per click when there is heavy competition. I’m concerned that paying per click is going to cost more than the profit we might make on our items, especially with low cost items. This Adwords type of marketing might be best suited for higher priced items. I am anxious to learn the concepts though. I made it through this week and look forward to the next.

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