Hello fellow SMC members! Below are my minutes from one of our recent meetings.


Date: 6/2/2010

Meeting Topic: PCs and Understanding

The Challenge: Elena invested in her friend's computer business and lost all of her savings.

Business Analysis: After an examination of the data, we found that there are a myriad of variables that one must comprehend when it comes to computers. So what was the problem you may ask? Elena doesn't know very much about computers.

Solution: Research. Keep it simple – don't get involved in a business you don't understand.



Understanding is important for success in life. Great businesses understand the industry its in, who its competitors are and what its customers want.

That concludes my latest minutes.
Radley

Hello fellow SMC members! Below are my minutes from our most recent meeting.

Date: 5/26/2010

Meeting Topic: Lawn and Order

The Challenge: Elena's friend Zoe owns a leaf business and wants to expand her business to include lawn mowing. The problem is she can't afford a lawn mower because she spends all her money on fun stuff like DVDs and clothes.

Business Analysis: After an examination of the data, we found that Zoe should have been more diligent in prognosticating for her future requirements. So what was the problem you may ask? Zoe doesn't know how to plan for the future.

Solution: Save money. Put something aside each month for the things you need, versus spending today for the things you want!

Saving money is important for businesses and for everyday life. If a business doesn't save money it can go out of business. There are many things you can focus on saving for such as college, a bike or car, maybe even a trip. If you put away a little money at a time, it won't be long before you have enough for the things you need.

That concludes my latest minutes.
Radley

Hello fellow SMC members! Below are my minutes from one of our recent meetings.

Date: 5/19/2010

Meeting Topic: Walkin' the Dog

The Challenge: Jones friend Emilio has started a dog walking business. The problem is he's completely unorganized and his business model is all wrong.

Business Analysis: After an examination of the data, we found that Emilio's scheduling, budgeting, well everything, is wrong. So what was the problem you may ask? Emilio has no plan.

Solution: Create a business plan. If you fail to plan, plan to fail!



A business plan is important because without it there's no goal to reach. Most businesses goal is to be successful by making more money than it spends. In Emilio's case he needs to figure out how many dogs he can walk per day, how much to charge to cover his expenses and to create a schedule.

That concludes my latest minutes.
Radley

Hello fellow SMC members! Hope you are enjoying our site and have been attending our meetings. I wanted to share with you my minutes from one of our recent meetings.

Date: 5/14/2010

Meeting Topic: The Car Wash Caper

The Challenge: Our school was holding a car wash to raise money for the band. The problem is that no one was participating in the event.

Business Analysis: After an examination of the data, we found out that their location is prime, they execute an excellent wash, and their price is very attractive. So what was the problem you may ask? No one knew about the car wash and all the positive aspects of their business.

Solution: Get the word out by advertising! Mr. Buffett even wrote a jingle.

Advertising is important. Companies advertise to help sell their product and build their brand with consumers. They also use it as a way to distinguish themselves from their competition. Just think of Coke Vs Pepsi or Burger King Vs McDonald's. Whether it is running a commercial on TV, doing a radio jingle like we did, or getting the word out with flyers or e-mail, a business needs to get the attention of potential customers.

That concludes my latest minutes.
Radley