Week 3 EOC: Miranda

What Miranda did wrong. First I'd like to address the fact that she was completely unprepared showing the banker what he demands, like a business plan, profit and loss projections, "The projections you provide should clearly be your best estimate and based on the detailed breakdown of sales, pricing, cost, and other data contained in your plan. It is helpful to show best-case, worst-case, and expected scenarios for income." pg 53 or even a mission."The function of a mission is to clarify what you are trying to do, and it can provide direction and motivation to those who are involved in the business." p 46.
The second thing is having her mom be her associate. Her mom hasn't even the first clue of how to help open a business, just like Miranda. Both of them should have had Miranda's friend help them to see what they need in order to satisfy a banker so they can give them the loans that are needed.

Not only were they unprepared to showing the banker the business plan, but they also made fun of his name, Dick Twist. That is severely unprofessional and that will unlikely get you the loan that you need from that bank.

When it came to the maraca dance, that was a plan that wasn't thought out for customers. It's a good idea, but the idea should be tested out before making it an official service. "The product or service should meet or create a customer need. The distinctive features and benefits of the product or service must be clearly stated. Remember, the packaging is also part of the product." p49.