This week I learned about the Acton Hero Paul Robshaw.

Mr. Paul Robshaw, shared that he helped his father since he was 13, he worked cleaning, driving and as a salesman. His dad left nothing but taught him work hard.

He said that he went to bankruptcy and divorce the same day and was a low day for him.

He shared, that money and his good accomplishments are important for him and that he has values, still he has his honesty, integrity, his belief in God, and friends.

Mr. Robshaw, likes dreams. He says that reality without boundaries, opens creativity to come up with things of personal inspiration, then you can say: I think I can do that.

Mr. Paul Robshaw gives us an example of hard work, and also that in life we can find in our lives hard moments, as he experience bankruptcy and divorce the same day. This makes me think that all of us need to be careful in life and do always right things, in case that we have bad situations, angels will help us to walk in those times. Because the Lord will send His angels to sustain us.

Header Evans:

Questions:

Does Heather's business model work? Why/why not?

Which investor(s) should Heather approach and what should the terms be?

What can we learn from Heather that would apply in your own business and other situations?

“I was really counting on Arden & Co. to be my lead investor; this would lend

both credibility to the deal and give me one party to negotiate terms with. Then I

could go to these private investors, point to the deal I’d struck with Arden and say,

“These are the terms—make a decision.”

Now, if I give each of these investors what they want, I’ll end up giving the

company away. But I do need the money, and fast. In order to get out a holiday

(winter) line, I need to start placing orders for fabric in the next month. All this, in

addition to the rent and salaries I’m committed to.

This remind to myself.

I don’t know whether I should stick with the private investors I have and

somehow try to hammer out a deal, or really work on getting a venture firm as a lead

investor—maybe there is still a chance of bringing Arden & Co. around. Maybe I

should try to get less money, or move back my timetable and wait for Spring to

introduce a line.

I like this part too.

I thought that working for an investment bank like Morgan Stanley would

give me the technical and financial training that I would need during my career.

--

Heather saw the business and financial side of the business as well as the design and marketing aspects:

Heather began by defining the concept of the company and its product line

She thought:

“that the first person she needed was an assistant designer. “I wanted

someone who had the technical training and experience in design that I lacked. I needed someone

who knew more about design than I did, but who didn’t mind working for me as an assistant.”

Martin is an old friend, and I trust his judgment; he told me that Barbara was

a terrible liar and had no real talent. I looked back at my original notes after our

meeting: “Very good rapport with Barbara. She seems HONEST. Feel she can run

entire inside of business.” I didn’t hire Barbara and was shocked at how wrong I

could be about someone. I had always felt comfortable trusting my own judgment.

Talking about me?

The spring semester was a rough one; trying to get my company started

really took its toll. I had always considered myself a responsible student. I prepared

about a half-dozen cases the entire semester, and only made it to half my classes. I

felt badly about it, but I knew I had to do it to get my business going.

The business plan will include:

I. A marketing plan, including an analysis of the relevant market, how I will

position my product (in terms of price and image), and a retailing and promotion

strategy.

II. A description of the organization, including people and physical plant.

III. Pro forma financial statements, based on sales projections from I, and operating

costs from II.

The business plan will include:

I. A marketing plan, including an analysis of the relevant market, how I will

position my product (in terms of price and image), and a retailing and promotion

strategy.

II. A description of the organization, including people and physical plant.

III. Pro forma financial statements, based on sales projections from I, and operating

costs from II.

IV. A financing proposal.

IV. A financing proposal.

The Company will offer a “designer” line to fit the life-style of professional

women. Based on her experience in investment banking and at business school,

Ms. Evans has conceived a style of clothing, based primarily on dresses, which

better fits the life-style and demands of businesswomen than the suits and other

looks currently offered to them by existing clothing manufacturers.

Moreover, as a former model, Ms. Evans has experience at projecting herself through the media and

can attract publicity as a designer/personality. She will actively seek to publicize the Company in

business media, as well as fashion media, to reach the target customer. She is currently working on

stories about the Company with writers from Vogue and Savvy.

HEATHER EVANS will target the upper end of a subsegment of the working women’s clothing

market, identified as “formal professional” women in a 1980 market study by Celanese.

These women are an extremely attractive market because they are —

+ a large, fast-growing group,

+ with high disposable incomes,

+ who are concentrated in metropolitan areas,

+ where they buy at a select group of better department and specialty stores,

+ with relative insensitivity to price, attention to quality,

+ and apparel brand loyalty,

+ and still-developing tastes and preferences in professional clothing

This inspire to creativity, knowledge in the field and hard work.

Celanese found the formal professional segment to be a well-defined purchasing group: it “includes

accountants, lawyers, sales managers, executives and administrators who work in highly structured

and formal environment. They can be characterized by a strict dress code and overriding concern with

presenting a professional image. Members of this group wish to convey occupational status at work

and in nonwork activities and can be considered investment dressers.”

+ 4.3 million women fall within this group.

+ They spend $5 billion per year on clothes.

+ They represent the fastest growing segment of the working women’s clothing

market, with real growth forecast at 8–10% per year.

The following statistics suggest that the upper end of the market is growing even faster than the

formal professional market as a whole:

+ In 1980, 793,000 women made over $25,000 per year.

+ 147,000 women made over $50,000 per year, up 22% from the previous year.

The “designer” fashion market is a relatively easy one to enter, because —

+ Competition is fragmented. For example, although there are no comprehensive

trade statistics available, it is worth noting that Liz Claiborne, which is one of the

two largest companies in the market, can claim less than 3% of the market, with

$155 million in latest 12 months sales.

+ Channels welcome new products. Department store buyers are responsible for

identifying and promoting new, promising lines, so that customers perceive the

buyer’s store as a fashion leader. In particular, major department store chains are

seeking new lines in the “bridge” price range, in which HEATHER EVANS will

position its products. They foresee this price category becoming increasingly

important.

DESIGNER PRODUCTS MARKET

Once it has established a franchise in the expensive businesswear market, HEATHER EVANS can

expand into any of several immediately related markets:

+ accessories (e.g. belts, shoes, scarves) in a similar price category to coordinate

with the original clothing line,

+ leisure clothing in the same price range for the same customer as the original line,

and

+ lower-priced office-wear for a different, wider customer group (i.e., the rest of the

4.3 million formal professional women).

==

Licensing:

Designers profit enormously from licensing agreements, through which they attach their names to

products in return for a 5–10% royalty. These products are manufactured and marketed—and often

designed—by the licensee. For example,

+ Pierre Cardin reaps over $50 million a year in royalties on $1 billion of wholesale

sales on 540 licenses, with minimal related expenses.

+ The top 10 designers collect over $200 million in royalties between them each

Year

The design process for each line takes approximately 9 months, so that several lines are being worked

on in various stages at any time. For each line, the design function is to —

+ Plan the line: determine the number of styles, colors and fabric groups, on the

basis of overall line balance, ranges of buyer climates and tastes, and other

marketing factors.

+ Define the theme and tone of the line.

+ Choose and order specific fabrics and other supplies, after surveying the market

for these products.

+ Create and select sketches.

+ Cut, drape and sew samples. Perfect fit of samples.

+ Select final samples for the collection.

+ Prepare patterns for production and communicate with normal industry contract

manufacturers.

Richard Branson:

RICHARD BRANSON: HOW TO AVOID COMMON STARTUP MISTAKES

An Interview by John Gachiri

Editor’s Note: Entrepreneur Richard Branson regularly shares his business experience and advice with readers. What follows is the latest edited round of insightful responses.

Q: What are some of the most common mistakes entrepreneurs make when starting out? — John Gachiri

A: Making mistakes is part of the process of building a company; quickly recovering from them is what’s most important. It’s all part of the adventure of entrepreneurship, which will require all of your stamina, drive and determination.

But your way forward is not entirely uncharted: When you notice an opportunity that has never occurred to anyone else, there are certain steps to turning your vision into reality. You must formulate an innovative business plan, find funding, hire the right people to carry out the plan, and then step back from your role in the business at exactly the right moment.

Let’s take a look at these steps, and also at ways to avoid some of the most common mistakes new entrepreneurs make.

Step 1: Stay on Target

A mistake often associated with the first step is signaled by an entrepreneur’s inability to clearly and concisely convey his idea. You have to be able to generate buy-in from investors, partners and potential employees, so nail down your “elevator speech” — what you would say if you ran into an important potential investor in an elevator. Try using a Twitter-like template to refine the essence of your concept into just 140 characters. Once you’ve done that, expand your message to a maximum of 500 characters. Remember, the shorter your pitch is, the clearer it will be.

An associated error is lack of focus. If your start-up has been tagged as “the next big thing,” the adrenaline rush that comes with building buzz can lead to impetuous decisions and a loss of a sense of purpose. Many entrepreneurs end up sprinting in many directions instead of taking assertive steps toward their target. Clearly define your goals and strategies, then establish a timeline. Don’t let the other possibilities or hazy dreams distract you from achieving your goal.

Getting too far ahead of yourself is also dangerous. If your product or service is still on the drawing board, don’t get sidetracked by plans for future versions. As a general guideline, looking two or three years ahead is best, but the nature of your business and feedback from your investors will help you determine just how far ahead you should plan.

Be flexible, because just as a lack of planning can be a problem, adhering blindly to your plan is a surefire way to steer your company off a cliff. A successful entrepreneur will constantly adjust course without losing sight of the final destination.

Step 2: Be Realistic About Costs

Don’t shortchange your start-up when estimating the funds you will require — you’ll just diminish your chances of success. Keeping your expenses under control is vital, but don’t confuse capitalization with costs. The playing field is littered with undercapitalized start-ups that were doomed from the outset.

In the late ’90s, David Neeleman told me he needed $160 million in start-up capital for JetBlue — a huge sum, far more than most entrants to the industry manage to raise. Most of the so-called experts scoffed at the notion that he would be able to find the money and launch a low-cost airline when established companies were failing one after the other, but he stuck to his guns and raised the money. As a result, JetBlue had one of the most successful airline launches of all time, and turned a profit only six months after its launch in 2000.

Step 3: Hire the People You Need, Not the People You Like

As tempting as it may be to staff your new business with friends and relatives, this is likely to be a serious mistake. If they don’t work out, asking them to leave will be very tough.

When Virgin starts any new business, we always hire a core team of smart people who already know the industry and its inherent risks. Take full advantage of the knowledge pool you’ve created; when a problem comes up, remember that nobody has all the answers, including you. One of your goals should be to find a manager who truly shares your vision, and to whom you can someday confidently hand the reins so that you can carry out the next step.

Step 4: Know When to Say Goodbye

A great entrepreneur knows when the time has come to leave the CEO role. It’s seldom easy, but it has to be done: few entrepreneurs make great managers. In my own case, managing the daily operations of a business simply isn’t in my DNA. (Or, as I’ve said to friends, “It’s not bloody likely.”)

Stepping back doesn’t mean turning your back on your business. At Virgin, I’m always involved in the launch of a new business, and then I gradually hand over control to the new management team as it starts to jell. But no matter how long it has been since I was at the helm, if I see something that I don’t like, I’m not at all shy about making my thoughts known and asking some very pointed questions.

Founders shouldn’t hesitate to re-insert themselves into their businesses when necessary — look at Larry Page, who temporarily returned to the CEO role at Google in April. That said, I had to laugh when I heard this news, wondering how many managers at Virgin businesses had thought, “Wow, I hope this doesn’t give Richard any ideas.”

The simple GEM that can help me to grow my business.

Gathering, Enhance, and Marketing. From Stephen W. Gibson.

I like how he discrbe his experience  when he was a child and saw all the steps that are important in a business. 😊

The Lean Star up: Eric Ries.

I like that he say: Fundamentally, entrepreneurship is a management science.

“ He say: when tenatious founders discover that there’s something wrong with their idea and move to the other foot into the new direction. Just change direction instead giving up. The kind of zig zag pattern., that is the path that all successful start ups look like.

I enjoy learning more about entrepreneurship.

Mercedes Johnson.