Passion Business Time!

This week in DireLights, we began working on our passion businesses! This is a time where we get to explore something we love and create a business idea based on this. Both EMI and EMII have the option to do this, while we also have a small group of people sticking with the DlireLights company so it stays afloat. I have chosen to work on my passion business from last year and continue to expand on the idea some more in hopes to get it started soon.

I have talked about this idea so much I feel like a broken record. A brief refresher, my teammate Kacey and I want to recreate the picture day but create a business based on taking high-quality pictures of the students that parents want to buy. Last year, we got started on this business during this project, but now it is time to dive headfirst into the business plan and begin a business model canvas to flesh all of the ideas out so we can get it started. The business plan is a L O N G document with many parts and questions to answer, but that is to ensure we don’t have any unanswered questions if we pitch this idea to someone. We have started working on the doc and have gotten through some of the questions, but there is a lot more to do. One of the questions we went over last week was “What are our costs and expenses?” I wasn’t sure what the difference between the two was, so I did a little bit of research and found that costs are expenditures, while expenses would be the consumption of the items required. We deemed our costs to be our time and our equipment, while expenses we thought would be gas money driving to the locations. We also had to answer “fixed and variable expenses”, these being equipment and insurance (fixed) and number of clients per year (variable). 

These questions make us think, but they are getting us more prepared for the future and I am enjoying the process. Some other good news related to the business is I am going to be taking the student and staff photos for this years’ yearbook! After fighting and trying very hard to get this working, Mr. Oliver and I made it happen and I can’t wait. This will be an amazing experience and it will get me ready to pursue the business idea if I like it as much as I hope. That is still a few weeks away, but hopefully, I can write on that when the time comes.

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