C4E Week 5 In Class

This week in class as we prepared our Foam Home documents to send to Mr. Gladstone we noticed a few errors in our startup costs.  While they didn't effect our P+L statements were minuscule in total, it got me thinking about what would happen in the real world if this happened.  While I do not take the Legal Studies class, I do know that the falsification of financial documents is a big no-no.  I also know that humans are prone to err and wondered how often companies over/underestimate their own figures and get in trouble.  Blue chip companies that deal with millions of dollars on a daily basis are constantly under the scrutiny of the SEC and the media, so they must be incredibly careful with every number that gets inputted into a spreadsheet.  While we at the Foam Home were able to catch our mistake before the cops were at our doors, the necessity of double checking figures is a good lesson to learn early on in the entrepreneurship process.  As we begun to put together our presentation, it forced us to rethink what exactly our vision was and why that vision is unique.  Since there is another coffee shop proposal, I think it is important for us to distance ourselves from a stereotypical café, and figure out a way to represent the Foam Home as a space for shared learning experiences.  For the $200 project, we devised a new strategy to sell the remaining calendars.  Last week we attempted to make bulk sales at discounted prices, but unfortunately there were very few interested groups.  This week we decided to go back to the basics of 1 on 1 sales.  We found the people who had shown interest in the product (especially those featured in it) at first but were hesitant about the price and attempted to convince them to buy with the incredible sale being offered.  While it didn't work every time it was encouraging to find more buyers and hopefully continue to make profit slowly but surely now that we have fully paid Kyle back.