Week 5

IMG_3366It's week 5.  We are halfway through our business class!  Where has the time gone?Every week seems to spark more conversation.  This week we talked about "business entity."  A lawyer from Clear Lake presented on the legal aspect of owning a business.  We learned what it means to be an LLC.  Natural Plus is an LLC, which means limited liability company.  I won't get into the boring details of what this means (because I'm not an expert yet), but I feel like I have a better understanding.  We plan to meet with a lawyer to discuss the legal details of the "succession."Market research was another topic of conversation. What will set us apart from our competitors? Will it be our prices? Our great customer service? The fact that we are a long standing local business?  If we cut back the landscaping, what type of customers are we targeting to bring into the nursery?  We have toyed with the idea of starting a greenhouse for herbs, possibly  starter vegetables.  Will we be able to make things grow?  I have dreams of linking our customers with local vegetables, meats, and eggs. I have talked with someone about a coop in the area.  My dreams are big and they seem to keep getting bigger.Our goal for the next few weeks are to finish the book for the class, meet individually with one of the guys from the Pappajohn Center at NIACC, and start developing our business plan (which will most likely involve sitting down with Dave's parents again).  I plan to do some research on local competitors, learn more about Quickbooks, and spend a little time out at the nursery learning the lay of the land from Mike, their long time nursery employee.  So much to learn!