Guest Speaker Erik Hanberg
I have learned a lot from Erik Hanberg, it was very interesting learning about his experience working in marketing world. I believe having a strong marketing skill is very essential to achieve success in the business. The biggest companies spend millions of dollars marketing their product or service that they offering to the public. Using slogan or marketing strategies ensure success or bring new costumers to the company. Also, Erik is a writer who had written several books. The way how Internet had changed the market and how is easy become for authors to publics their books using Amazon. Publishing a book use to take several steps. Finding a broker who find a publisher then books store will print copies of the book. Learning how much money authors make for one book sell was interesting because they make ¼ of the total value of the book. Amazon changed how the market works allowing the authors to publish their books without broker or book store. They can sell their book throughout amazon who has all the equipment to print as many books they need, and you have access to millions of customers so sell them through amazon website it is easy.
Learning about his failures give me inside point of view how entrepreneurs have to deal with failing to achieve success. I have a better understand how much money you need to raise to make something for thin air. Life is hard, and success does not come without sacrifice. We did an activity in class to see who much money we need to earn to survive for a whole year. We learned that we need 30k per year. Erick manage to run a cinema while raising his family. It can be hard because having a family make you think how much money you need make monthly to cover all the household expenses. And start up business is similar, you do not have enough capital, resources are few. Overall, I really enjoy his presentation.