Our opportunity to do an internship or an independent project is right around the corner. And although I think it would be an amazing experience to learn from someone else or from a company for a month, I don't want to leave my marketing project aside! So I decided that instead of doing an internship, I was going to use my marketing project as an independent project.
My goal by the end of the semester is for my business to have a force of supply that can sustain any force of demand. After talking to my dad for some guidance, I realized that the project was a lot harder than what I thought it would be. In a summarized version, I have to find the formula for each recipe, which entails finding the exact cooking time, time of production, quantity yielded, and quantity of each ingredient in grams. I also have to find options for partners and contact them, find the exact cost of producing each recipe, compare the cost I came up with to the cost offered by the various companies, come to an agreement on the price of production, and sign a confidentiality contract.
What scares me about this entire process is the fact that I am trusting other companies with my recipes. Once the recipe is out there, it's out there for good. And something my mom told me a few days ago was that in business almost everything is about the money.
So how am I suppose to trust anyone's intentions?
Although I completely understand where my mom is coming from, I, on the other hand, believe that if I want to see my business grow, I need to be willing to trust others, especially the companies I plan to work with. I can't expect to get anywhere without giving something up, and in my case, this means trusting others with my recipe. Yes, business is about the money for the most part, but it is also about trusting others intentions. And trusting that their intentions are neither good or bad, they're intentions are simply to make business.
My goal by the end of the semester is for my business to have a force of supply that can sustain any force of demand. After talking to my dad for some guidance, I realized that the project was a lot harder than what I thought it would be. In a summarized version, I have to find the formula for each recipe, which entails finding the exact cooking time, time of production, quantity yielded, and quantity of each ingredient in grams. I also have to find options for partners and contact them, find the exact cost of producing each recipe, compare the cost I came up with to the cost offered by the various companies, come to an agreement on the price of production, and sign a confidentiality contract.
What scares me about this entire process is the fact that I am trusting other companies with my recipes. Once the recipe is out there, it's out there for good. And something my mom told me a few days ago was that in business almost everything is about the money.
So how am I suppose to trust anyone's intentions?
Although I completely understand where my mom is coming from, I, on the other hand, believe that if I want to see my business grow, I need to be willing to trust others, especially the companies I plan to work with. I can't expect to get anywhere without giving something up, and in my case, this means trusting others with my recipe. Yes, business is about the money for the most part, but it is also about trusting others intentions. And trusting that their intentions are neither good or bad, they're intentions are simply to make business.