HOT SEAT LESSONS CARCHANGE UPDATE!!!!!!

As a result of sitting on the hot seat a couple days ago there are many logistics I need to figure out. One of the most important ideas was to figure out my pricing logistics. This includes how much my company will make on each transaction, will the renter or our company set the price for the cars, and if there should be a fee to list your car on our website or app. These are all significant decisions which will determine whether or not customers are attracted to my company. Other topics I learned about from the hot seat was to find a way to convince my customers it is safe to rent out their car. I plan on achieving this by guaranteeing every renter full coverage on their car if it is stolen or damaged. Lastly, I need to decide where and how the transaction will occur between two people, this is important because customers should feel safe renting from a stranger. Currently, I am working on finishing my website and there has been significant progress since our last update. We hope to get our website up and running asap and listings/purchases soon!!!

Almost...

The time we have had in this class has been a rollercoaster of emotions. Peter and I were stuck at one point, and we thought we would be failures, but you know what, we proved ourselves wrong. In a sense, we failed to create a very successful business. We were given a budget for our idea of $250 from the school in hopes that we would make all of the money back. We spent $227.10 in grand total on the domain for our website, the website provider, and our first order of shirts. We made back only $140 of the nearly $170 that we spent on ordering the actual t-shirts, which was slightly a let down because we had the capability to earn $360 in total from our first order. It was not that there was a lack of interest, we just had problems distributing the t-shirts to our customers, and that is what really hurt us. The fact that we created a business with an actual interesting product though is quite exciting. From starting our own business, we have learned what it really takes to be successful in this clothing industry, and that can success in this field can be summed down to basically time, money, and a good idea that will sell. We failed to meet some of those things, which ultimately lead to us being not as successful as we planned to be. My advice to future entrepreneurs is to never give up on your idea. We gave up on our original idea, which was to create a clothing company, but we decided to put in the time and effort, and we made one. Successful entrepreneurs are ones who know their idea is good and will never give up on it until they are successful in doing so. Through this class, I as well as Peter have learned that concept of determination in the field of business, and we will use what we have learned in whatever we decide to do with our future careers. We are very grateful that this school has given us the opportunity to open our eyes to what it is really like being an entrepreneur. It has been a great run.

-Duncan and Peter of The Northern Virginia Clothing Company

www.novaclothingcompany.com

N O V A

The past two weeks for us have been very exciting ones. We have officially launched our clothing line, the NOVA Clothing Company. Our first item that we have been selling are our DMV t-shirts, which incorporate the American, Maryland, and Virginia flags representing the DMV letters, and it looks great on the shirts. For our first shipment, we ordered about 18 shirts, and I believe we only have 1 left for sale. Since it is exam week, we have not been focused much on our company, but as soon as exams are over we will get right back to it. There is still a whole lot that Peter and I need to figure out if we are going to continue our business, like what other products we can sell right now, how and if we should copyright our designs, and whether or not we should continue our business outside of the class considering all of the things we would have to do to make it an official business outside of Flint Hill. Nonetheless, I am very proud that we have even been able to make it this far, considering that only a couple weeks ago we had absolutely no idea what to do, and now we have the potential to create something big. For us it has been a huge success, and I am glad it has turned out the way it has so far. I want to try to get at least one more order in before the end of the semester, and to do that we have to promote ourselves even farther so that people might become more interested. If anyone is interested in buying or even giving us a look, visit www.novaclothingcompany.com

-Duncan and Peter