Log of what of Amelie Yerenburg has learned at Techie Youth

Fri. Aug. 12, 2022

The cost of development to start your company

A lot of companies when starting out need to figure out their cost of development. They have to figure out how much the inventory will cost and all the other things needed for the company. Some hidden costs that people don't think about is the cost of human resources. You also need someone to refill the supplies needed for to produce your product. Also thing for the custodian to use are costly because it goes by quick especially if the building is big because it will take a lot of supplies to use. Theres a lot more hidden costs that need to be accounted for which is why when you start your business you have to make sure to also look at hidden costs so you have enough money to have a well funded successful business.

Tue. Aug. 9, 2022

Time management skills- how to better them.

Procrastination is a big problem in a lot of peoples lives. It causes people to not finish work on time, take too long on one assignment, or not do anything at all. Though it is hard not to procrastinate there are a couple simple things to do to break this habit. One thing you can do is plan out your day, this way if you spend too much time on one project you can move on to the next and come back to the time draining one later when u have time. This also allows you to stay focused and that you have a goal you want to reach by the end of the day. The most important skills to learn that will help you manage your time are: organization, prioritization, goal setting, communication, planning, and stress management.

Mon. Aug. 8, 2022

What is a profit model?

A profit model is a company's plan that aims to make the business profitable and viable. A profit model will help lay out how sales will be generated, and all the expenses that the business will have to have. If a business doesn't have a profit model it will blindly operate, which could ultimately lead to to it being unsuccessful. There are four types of profit models: production, rental/leasing, advertising, and commission model. There are also three components to a profit model: production and operating, sales and marketing, and delivery of goods and services component.

Fri. Aug. 5, 2022

Is entrepreneurship what you want?

Entrepreneurship is hard to get into if you don't have the right skills for it. To be an entrepreneur you have to be a leader. This is because in order to run your business you are leading your company in the direction you want it to go. The biggest part of if you can fit the leader characteristic is in a persons speech. While some people are naturally born leaders, others have to become one. The way a person speaks is very important because it shows if you come off strong. It very important to work on problems with your speech that you suffer from, when talking to someone and stuttering or mumbling too much, saying more than needed comes off as not strong. To be heard you have to speak when necessary and when it the right time.

Thu. Aug. 4, 2022

What is an entrepreneur and how to be a successful one

An entrepreneur is a somebody who organizes, manages, and assumes the risks of a business or enterprises. Entrepreneurs come in all types of industries and can have widely different backgrounds. Today at techie youth i learned how to successfully begin your path to entrepreneurship by starting your first business. The first step is to find a partner. You want to find about 2-3 people with whom you would like to start, these should be people you trust and know. When finding a good partner its best it is someone who has experience especially if you don't have experience yourself. Next you will need an executive summary- a shortened business plan. This will help you build the blue print to your company and should consist of: what your business does, who is gonna buy your product, where your customers are coming from, and who you are, your company, and your team. Lastly you should also have names for your employees, there should be a CEO, CFO, CTO, etc. This is so your company is considered professional.