Assignment 3A: My Entrepreneurship Story

  ElbeeDesigns's Magnetude

                  When I think of Entrepreneurship, the first thought that comes to my mind is my mother and her short-lived business ElbeeDesigns (Elbee stood for her initials LB). ElbeeDesigns was created to sell her premier product, the Magnetude. 

                   Magnetudes were designed to fix a problem that many people faced on a daily basis. My mother, having faced this problem many times, decided to devise a solution that was easy to use, as well as fashionable. What was the issue? Finding an easy place to store glasses or sunglasses when they were not in use. 

                   But what about on your head? I don't know about you but the nose pieces yank out my hair. How about in your shirt? Well, it's fine until you have to bend over and then it falls on the ground.  I set mine on the table and that works just fine. But then again you always ask: Where did I leave my glasses?

                  My mother designed Magnetudes to be a magnetic glasses holder. You simply slide the magnet off the back of the glasses holder with your thumb and then reassemble with your shirt in between. It was very easy to do and did not damage clothing like pins do. (The only issue was that it was not for people with pacemakers) 

                 My mom created over 20 designs that appealed to both men and women. She mostly sold these products at town fairs, but she did manage to sell them in one boutique store close to our house. What was awesome was that even as a young kid (I was still in grade school when my mom had this idea) I was able to help my mom come up with designs, create the packaging, and even sell a few if she needed to leave the booth. 

                Unfortunately, ElbeeDesigns and Magnetudes would fade after about two years. Looking back on her business, my mom attributes its collapse to the lack of business plan and model. She preferred to have it as a hobby rather than business. She wears her originals all the time and still makes a couple of sales here and there.

Why ENT3003

                Through the ENT3003 course, I am hoping to gain a better understanding of what it means and takes to be an entrepreneur. One of my favorite shows to watch with my brother is Shark Tank, however the show small glimpse into topic. As I mentioned above, I have seen and helped my mother with her business, but I was young and did not understand the process of having an idea and converting into a useful product. I believe this course will help me discover a new way of looking at problems and finding solutions. It can also help me with my Marketing major by giving me a new appreciation for the creation of products so I can in turn better market them to the public.