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TASK 2 - Midterm Exam - Redho Akmal Nugroho - 19217002 - Case Assignment
TASK 2 - Midterm Exam - Redho Akmal Nugroho - 19217002 - Case Assignment
Redho Aldi Akmal Nugroho
19217002
Class of 2020
Entrepreneurship Study Program
SCHOOL OF BUSINESS AND MANAGEMENT
INSTITUT TEKNOLOGI BANDUNG
2019
Redho Akmal Nugroho
19217002
Mid-Term Exam
MK4002-ENTREPRENEURSHIP MENTORING II
Case Assignment
Based on the case in Chelsea’s family there is a strong believe where life would be better
if all the family member was persuading a higher education, this believe was created by her
mother, Tammy, which not going to college because of the financial condition of her family
which only a farmer and stay-at-home mom, but then she decided to pursue photography skills
independently but cause of lack financial condition she only took a simple taking pictures course
to save her family money. Because of this experience she didn't want the same situation happen
to her daughter, Chelsea, which in her opinion has better condition where she had working moms
and military father. Then she followed her mother to pursue higher education by registered in
engineering majors which in Tammy's opinion will have a brighter future because of well paid
jobs and change her own future. But she decided she abort education to focus on her interests in
Jewelry making business. From this case we learned that decision was is our hands and we also
only one knew what's will happen to our life in the future and has the bravery to take a decision
at any opportunity that can happen in our life. some opprtunity has uncertain result in the future
but as entrepreneur we have to take those opportunity and face the uncertainity to gain what we
want even if the job was generate less money, but by enjoy it we will get higher satisfaction
which will never could be bought by a money.
by the summer 2008, Chelsea opted to pursue the same job with her mother. she was
hired on as an inspection manager. but at the time Chelsea was completely restless even if she
was good enought in the position and got the respect from another employee. then she think to
persue another kind of jobs which she enjoyed and passionate. then she started to think about it
deeply, and find that when she was child she loved so much about jewelry when her mother,
Tammy, bought Chelsea sets of Pony Beads then she start sit contentedly for hours stringing the
chunky, brightly colored beads into bracelets, necklaces, and rings. this is the opportunity that
should be taken as she enjoyed and passionate. at the beginning, she opened a online store on
Etsy.com which an e-commerce to sell handmade product in US. After Chelsea resolved to get
an attention in a jewelry-making business, she took the next step to open a shop nearby in
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Redho Akmal Nugroho
19217002
Morganfield, Kentucky called Studio 107 with her two friends a photographer named Aubrey
and an artist named Stacy,. at this point Chelsea took a moderate risk decision in her business
which choosen to self-financed for all Studio 107 expenses. she believed that the business would
not only break even, but eventually create a profit. at this point we as an entrepreneur has to take
the risk and strong believe that what we persue with passion will give us profit even not as faster
as when we worked at the big company with high position.
She tought that Studio 107 is not a good business retail location, the Aubrey indicated
that a building across the parking lot from Studio 107 was available for lease. This building had
an ideal amount of workspace for assembling and shipping the jewelry as well as ample
storefront for their displays. This step, however, contained significant risk for the business. Sales
online and in store were just beginning to pick up, and regardless of the level of sales revenue
Chelsea would still be responsible for paying the year-long lease she was required to sign and
other bills associated with the business She decided to choose a brand name and create a logo
which choosed HorseFeathers and ask his photography friends to scatch of her brand logo.to get
better intention and brand known, she decided to go fully online by create its own website and
create and facebook acoount, through her participation in online media hows their customer level
increased, and they also gained the ability to participate in wholesale opportunities. Wholesale
orders allowed them to increase the income of the business. Sales to individual customers were
often inconsistent at shows, but one wholesale order often brought the company more than $1000
in revenue at one time. in order to scale up the business the entrepreneur has to analyze the
current condition and trend to take the next step and increase their sales. but it has to be founded
under the data and statistic.
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Redho Akmal Nugroho
19217002