Dana's+Trade+Fair+Report

__Product Name__: Charmed School of Dance__Company Name__: Charmed School of Dance __Design of Product__:My innovation was to create a dance school that taught a range of different styles. My dance school was called Charmed School of Dance and taught 8 different styles including BAL Jazz, NZAMD/ American Jazz, BAL Tap, American Tap, Hip Hop, Contemporary, Ballet and Irish. These were styles that I had either learned, was familiar with or could get someone else in that could provide the stage presence dance skills and could teach in a way that people would enjoy. At the end of teaching a dance for each style I had planned to perform what we had learned to an old folks home. The thing that made this idea innovative and creative was that it was an original idea that no-one else had used, and it played to my strengths and was helpful to others. This would not only be a fun thing to do for the people that joined the dance school but it would be entertaining for the people that got to watch and see what we had learned. People that helped me in the process of designing this dance school are the people that persuaded me to make this my company because it was two that I both enjoyed and did well, dancing and teaching. The expenses included in making this work was basically just being able to hire a hall that provided the space and the floor and bars that I needed. I knew a hall that provided all these things and didn't really have to think about how I was going to pay for this because the people that bought lessons would have some of their money going toward the hall. Other expenses included for the people that wanted to learn how to dance was the cost of hiring shoes if they did not own any, and getting costumes for the performance at the end. Neither of these were major costs. The way this company would impact others in the community was that it would help people get fit by dancing and getting strength in some of their muscles. It would also impact the old folks that got to watch what got on the community when they are not always able to as some of them may be disabled. __Trade Fair__:The way I had set up how I sold my product was very successful as I earned a lot of attention from the way I was dressed and how I had things on display. However I did not get much attention in people wanting to buy my product and that resulted in not having enough people to continue to go through with giving lessons. This was a little to not surprising at all because the prices may have been a little but I had no competition in anyone else doing a dance school. The only thing that was competitive about the trade fair was that the people selling beside me were very successful and earned a lot of money. My sales pitch could have been a lot better then it was as I did not have the time to actually write it out and practice it so that I could grab people's attention. This meant that I was impromptuing my speech and if I had prepared better I could have had more customers. One thing that did catch peoples attention was the way my stall was set out and what I had on display. People really enjoyed looking at my different costumes and shoes that I use in dance. One thing that would have made it better however was again that I had prepared the presentation of my company rather than just trying to think of a concept I could use. There wasn't a huge amount of sales in my company but there was interest in buying some of the costumes I had on display and if my prices had have been cheaper I predict more of the people would have done the dancing just to be able to where a cool costume. If I were to do this assignment again I definitely would get onto choosing something to invent quicker then I would have heaps more time to work on presenting my work to a higher level and could look more professional. __Entrepreneur:__Being an entrepreneur was an interesting task to do, I do not however think that I would study to become one because I'm not great at talking to complete strangers about something I have invented and created. It was really difficult for me to call people over and start talking to them about my invention but once I had gotten into it I managed to talk about the things I had on display and what I planned to do with this dance school and relax while I was doing it. I do not think that this profession is for me but it was a challenging and enjoyable experience. __And Finally:__ The reason I think people would want to start their own business would be so that they would be able to enjoy what they are doing and get to control how the business works. It would be great to be able to choose who works for you and pay the amount of money you think is necessary. These are some of the reasons it would be great to be your own boss. Other important reasons it would be great to start your own business and control how it works are that you would get to work with something that you are passionate about and that would make you feel like you were doing something important to you. The biggest obstacle I see into starting your own business is that of getting into the advertisement business. You need to be able to sell your business/ product well if you would like to stay in the business and not go bankrupt. That means letting people know what your doing which includes setting out posters, getting sponsors to help promote what you are doing, getting adds put into the newspaper or on TV etc. This is all hard work and in the end may not pay off at all as some forms of advertising are very expensive. But, if you have done your research, it could all work out in the end. Some negatives of being an entrepreneur are that what you create may not work out and that it takes a lot of time and hard planning to get things to go according to how you would like them to go. As an entrepreneur you should be familiar with failure as starting a business doesn't just happen, it takes a lot of trial and error to get to the standard that you would like your product to be, you may never get to the standard you expect. It is a hard job to take on but if it does work out it can earn you a lot of well earned money. The importance of creating a business plan is huge. It involves things like what you would like to do, and the things you are planning on doing to get there. If you are going to sell a product you would need to think of the target market and what that market usually like, for example, if you were trying to appeal to young children then you would use something visually appealing to them like a fairy instead of a flash looking microwave oven like you may do with the older generation. Other things included in the business plan may be how you are going to get the attention required, where you are going to get the money to start off your business and more. This is all part of being a successful entrepreneur. It is always reasonable to start small but think big so that you can keep an open mind. Things may not always go according to plan but you need to know that there may be other ways to achieve what you want then what you had in mind. If you start small you can gradually get bigger and bigger as the time is right, for example if you wanted to open a hair dressing shop, it would be best if you started with a few essential appliances in a space big enough to work in and not too pricey, then as you get more and more business you would be able to progress to getting a bigger working area and maybe start hiring staff. At the other point of view if you start big, you may not get the publicity you wanted and end up with less money then you started with. These are all good reasons why it is great to start small and to have a business plan.