The most formative experience I had in this class was the assignment entitled "Growing your Social Capital" in which we were tasked with getting in contact with a domain expert, a market expert, and an industry supplier. This was the assignment that changed my thinking from just doing regular class assignments into something more real. This helped me realize that what I am working on and developing throughout this course is not just standard curriculum with lessons that I feel I will not value, but actual learning experiences that can be very useful in the future. I was happy that U had gone that extra step and really got into contact with successful people, and really took the initiative in gathering information on my own and communication with people that actually worked in the industry of the product that I have been concept testing for this class. I am proud of this accomplishment and I will not forget this or some of the other creative assignments I completed in one of the most unique and beneficial classes I have ever taken in my life.
I can honestly say that I do see myself as having more of an entrepreneurial mindset than I previously. This course taught me what an entrepreneur does, how they examine the world in regards to opportunities available and how failure can always be looked at as a learning experience. It is difficult to have a true entrepreneurial mind before engaging in any true entrepreneurial ventures, but the various exercises this class offered in the assignments did a great job simulating actual entrepreneurial work and that has brought me closer to having an entrepreneurial mind.
One recommendation I would have for a student about to embark on this course is to really stay engaged with the assignments and the subject material. This class is not hard to get a good grade in, but the class is not about getting an easy grade, you get out what you put in to this course, and it is much more advantageous for you to leave this class with great lessons learned and experience than by just trying to get the easy "A". To perform best in this course, make sure you put ample thought into your product or service you are designing because each assignment builds on each other and they all have to do with your concept. Also do not wait until the last minute to complete assignments, have each submission be your best and most well thought out work. To foster the entrepreneurial mindset, try and utilize the lessons learned in the lectures and allow yourself to believe that the concept design you created for this class is something you can and will actually pursue outside the course.
Friday, April 20, 2018
Assignment 29A: Venture Concept No.2
Opportunity:
My product consists of a breathalyzer attachment that can be permanently placed into any type of vehicle and be required to successfully use between the hours of 10 PM and 4 AM to start the car, the times of the night when most drunk driving incidents occur.
I have identified two market segments of people who would buy this product. One group of people would be those that go out often, are young and relatively new to driving, and may consider themselves a risk to drunk drive, or have driven under the influence before. My other target segment, and the one I feel is more prominent, includes concerned parents of high school or college aged kids that are just learning to drive and are afraid of their children making a poor decision.
The forces in the environment creating this opportunity would be the growing amount of drunk driving related deaths and occurrences happening today. Drunk driving related deaths are one of the most common killers of teens and young adults and it is a growing problem that needs to be seriously dealt with.
Geographically, this product can be sold anywhere, drunk driving is not just a problem in some areas and not in others. It is a widespread issue that can be a problem in any location. Demographically, it is more common for young adults and teens to be involved in drunk driving related incidents, therefore it is best to market this product in stores where many people who are around the age of a parent with a teenager or young adult would shop at in order to maximize revenue and profits.
There is no current way customers are satisfying this need right now. The only thing stopping peoploe from driving drunk is their own discipline and awareness for their own safety, the safety of others and the fairly strict laws we have in place right now.
This opportunity has the potential to be huge. Driving under the influence is one of the biggest killers of teens and young adults today and currently there is nothing concrete stopping these incidents from happening. If I had a sensible and practical product that worked how I described it too and those in my target markets were aware of this product, it would be a huge success financially, and save countless of lives as well.
The window of opportunity will be open as long as people are still driving cars and alcohol is still legal. The window will not be closing anytime soon, This is a growing issue, and this solution would be useful and popular among people for a very long time to come because drunk driving will always be something that is going to happen unfortunately, but this can be a great way to slash those death numbers severely.
Innovation:
If I were able to sell my product exactly how I wanted it to be, it would be a surefire financial success and make my business very profitable. The goal for my breathalyzer would be to have a few key features that would make it stand out from others and be a practical solution to the problem I am trying to solve: drunk driving.
My product would be small and not take up that much room, so it does not seem like a hindrance to the driver or look unappealing in anyway. This would be the best case scenario for the product, but I may need to work around the fact that this can be difficult to achieve in getting perfect function related use and in the way it looks.
I would like the breathalyzer to be able to function accurately and consistently and make it so after you breathe in it, it displays a clear number that shows the blood-alcohol level currently being tested, and function in a way so that a successful use would start the car and a failing use would make it so the car cannot be started until a successful use is drawn or until the time is out of the zone of use, (10 Pm - 4 AM)
My last feature of the product I would like to see is ability to be attached to any type of vehicle, this would probably require some sort of Bluetooth or wireless connection in order to work for any type of vehicle, but once its connected, cannot be disconnected unless through a way that can only be accomplished away from the car, therefore someone cannot drive home drunk by bypassing the system.
Venture Concept:
This product will solve the problem of drunk driving because it makes driving the car physically impossible if you are drunk in the time period listed. It would allow a better chance of safety for the would be driver and other innocent people out there on the road.
I am unsure if anyone would buy this for themselves because they feel like they are a risk to drunk driving but I think if the government got involved and made it so offenders have to get one for a lowered charge, then this would very much sell to this group. Also, I know that concerned parents of their kids would buy this because this guarantees safety of their kids and to most parents, there is nothing more important or a bigger priority.
There does not seem to be any actual competitors that have an established brand selling this product right now so if I market this correctly, I can be the only brand that does this that people will know about.
The packaging should be small to stress the fact that this product is practical and not a hindrance to safe drivers and the distribution needs to be in stores where middle aged parents commonly shop, such as retail stores like Home Depot, Walmart, and auto shop stores preferably.
I would need manufacturers for me and to rent warehouse space in order to make this product, I would market extensively through advertisement because awareness is key for this business and then I would meet with retailers to convince them that they need this product in their stores.
1. My unfair advantage I have over others is that this problem is a very big one and there is no current solution out there that can also work as a profitable business. If people knew about my product, it would be a huge success since the problem is so widespread.
2. My next venture regarding this product would be to possibly work with companies trying to develop a breathalyzer for THC, since marijuana is legal in many places now and can also hinder someones ability to drive.
3. I want to be successful enough with this business to be able to grow other businesses and maybe try and continue attempting to solve large scale problems with products that can serve to make me money too.
The Feedback I received since the last venture concept post was very helpful and informative. What has been brought to my attention is perhaps my unrealistic standards for the product, In all of my assignments to date, I have talked about my product being designed to fit in any vehicle, be small enough to not look like an eye sore, and be completely accurate and reliable. Now I know that we are just concept testing at this point, but should I try and pursue this business plan into an actual project, I have not thought about and would be unprepared should my product not be able to reach the high expectations I have for its capabilities. I would need to reevaluate how I market this business and I would need to learn how to solve issues like this that pertain to design flaws or weaknesses in the product that other competitors can make better than mine,
I have also received feedback regarding flaws in the way that the product operates, with certain scenarios being brought up such as the car not starting while stranded in a bad area. These are considerations I need to think about and decide whether the product design is worth altering to atone for the possible inconvenient or dangerous outcomes that can result from a failed breathalyzer test. With that said, I altered my venture concept to reflect these uncertainties in the design and maybe make my product a little more realistic with its manufacturing. I may have been too realistic with the extent of its capabilities.
My product consists of a breathalyzer attachment that can be permanently placed into any type of vehicle and be required to successfully use between the hours of 10 PM and 4 AM to start the car, the times of the night when most drunk driving incidents occur.
I have identified two market segments of people who would buy this product. One group of people would be those that go out often, are young and relatively new to driving, and may consider themselves a risk to drunk drive, or have driven under the influence before. My other target segment, and the one I feel is more prominent, includes concerned parents of high school or college aged kids that are just learning to drive and are afraid of their children making a poor decision.
The forces in the environment creating this opportunity would be the growing amount of drunk driving related deaths and occurrences happening today. Drunk driving related deaths are one of the most common killers of teens and young adults and it is a growing problem that needs to be seriously dealt with.
Geographically, this product can be sold anywhere, drunk driving is not just a problem in some areas and not in others. It is a widespread issue that can be a problem in any location. Demographically, it is more common for young adults and teens to be involved in drunk driving related incidents, therefore it is best to market this product in stores where many people who are around the age of a parent with a teenager or young adult would shop at in order to maximize revenue and profits.
There is no current way customers are satisfying this need right now. The only thing stopping peoploe from driving drunk is their own discipline and awareness for their own safety, the safety of others and the fairly strict laws we have in place right now.
This opportunity has the potential to be huge. Driving under the influence is one of the biggest killers of teens and young adults today and currently there is nothing concrete stopping these incidents from happening. If I had a sensible and practical product that worked how I described it too and those in my target markets were aware of this product, it would be a huge success financially, and save countless of lives as well.
The window of opportunity will be open as long as people are still driving cars and alcohol is still legal. The window will not be closing anytime soon, This is a growing issue, and this solution would be useful and popular among people for a very long time to come because drunk driving will always be something that is going to happen unfortunately, but this can be a great way to slash those death numbers severely.
Innovation:
If I were able to sell my product exactly how I wanted it to be, it would be a surefire financial success and make my business very profitable. The goal for my breathalyzer would be to have a few key features that would make it stand out from others and be a practical solution to the problem I am trying to solve: drunk driving.
My product would be small and not take up that much room, so it does not seem like a hindrance to the driver or look unappealing in anyway. This would be the best case scenario for the product, but I may need to work around the fact that this can be difficult to achieve in getting perfect function related use and in the way it looks.
I would like the breathalyzer to be able to function accurately and consistently and make it so after you breathe in it, it displays a clear number that shows the blood-alcohol level currently being tested, and function in a way so that a successful use would start the car and a failing use would make it so the car cannot be started until a successful use is drawn or until the time is out of the zone of use, (10 Pm - 4 AM)
My last feature of the product I would like to see is ability to be attached to any type of vehicle, this would probably require some sort of Bluetooth or wireless connection in order to work for any type of vehicle, but once its connected, cannot be disconnected unless through a way that can only be accomplished away from the car, therefore someone cannot drive home drunk by bypassing the system.
Venture Concept:
This product will solve the problem of drunk driving because it makes driving the car physically impossible if you are drunk in the time period listed. It would allow a better chance of safety for the would be driver and other innocent people out there on the road.
I am unsure if anyone would buy this for themselves because they feel like they are a risk to drunk driving but I think if the government got involved and made it so offenders have to get one for a lowered charge, then this would very much sell to this group. Also, I know that concerned parents of their kids would buy this because this guarantees safety of their kids and to most parents, there is nothing more important or a bigger priority.
There does not seem to be any actual competitors that have an established brand selling this product right now so if I market this correctly, I can be the only brand that does this that people will know about.
The packaging should be small to stress the fact that this product is practical and not a hindrance to safe drivers and the distribution needs to be in stores where middle aged parents commonly shop, such as retail stores like Home Depot, Walmart, and auto shop stores preferably.
I would need manufacturers for me and to rent warehouse space in order to make this product, I would market extensively through advertisement because awareness is key for this business and then I would meet with retailers to convince them that they need this product in their stores.
1. My unfair advantage I have over others is that this problem is a very big one and there is no current solution out there that can also work as a profitable business. If people knew about my product, it would be a huge success since the problem is so widespread.
2. My next venture regarding this product would be to possibly work with companies trying to develop a breathalyzer for THC, since marijuana is legal in many places now and can also hinder someones ability to drive.
3. I want to be successful enough with this business to be able to grow other businesses and maybe try and continue attempting to solve large scale problems with products that can serve to make me money too.
The Feedback I received since the last venture concept post was very helpful and informative. What has been brought to my attention is perhaps my unrealistic standards for the product, In all of my assignments to date, I have talked about my product being designed to fit in any vehicle, be small enough to not look like an eye sore, and be completely accurate and reliable. Now I know that we are just concept testing at this point, but should I try and pursue this business plan into an actual project, I have not thought about and would be unprepared should my product not be able to reach the high expectations I have for its capabilities. I would need to reevaluate how I market this business and I would need to learn how to solve issues like this that pertain to design flaws or weaknesses in the product that other competitors can make better than mine,
I have also received feedback regarding flaws in the way that the product operates, with certain scenarios being brought up such as the car not starting while stranded in a bad area. These are considerations I need to think about and decide whether the product design is worth altering to atone for the possible inconvenient or dangerous outcomes that can result from a failed breathalyzer test. With that said, I altered my venture concept to reflect these uncertainties in the design and maybe make my product a little more realistic with its manufacturing. I may have been too realistic with the extent of its capabilities.
Assignment 28A: Exit Strategy
My Exit strategy is one that I am sure that many Entrepreneurs would also follow through with. My plan would be to sell the business for a large return after a certain number of years, for a few reasons. I would want to make sure to sell while I can still get the most amount of money out of it, instead of waiting too long and attempting to sell it for a less desirable price once the brand starts to mature or decline somewhat.
My second line of reasoning is that being an entrepreneur is a passion, but sometimes you are not passionate about your own product enough to continue with that business for the long run. I would sell this business and move on into a new fresh venture and try and build another successful product or service. I would not want to feel stagnated working on the same product my whole career, I would certainly want to move on and put my effort into another project and work on something new that I can be excited about.
I think my exit strategy affected my concept somewhat in how I plan on reaching my audience. If this product becomes successful as I planned, then it would mean that people have become more aware of the issue of drunk driving and now have a great solution to eliminate this problem completely. My main goal of this business was to make profits but I also saw a very serious problem that society is facing in drunk driving, and if I felt like I had put in as much effort as I could into making people aware of this product and I felt like I succeeded in getting as many people as I could aware, then I would feel like I had done my part, and would be ready to move on to a different venture. Which is why I placed so much emphasis on marketing and reaching a target audience.
My second line of reasoning is that being an entrepreneur is a passion, but sometimes you are not passionate about your own product enough to continue with that business for the long run. I would sell this business and move on into a new fresh venture and try and build another successful product or service. I would not want to feel stagnated working on the same product my whole career, I would certainly want to move on and put my effort into another project and work on something new that I can be excited about.
I think my exit strategy affected my concept somewhat in how I plan on reaching my audience. If this product becomes successful as I planned, then it would mean that people have become more aware of the issue of drunk driving and now have a great solution to eliminate this problem completely. My main goal of this business was to make profits but I also saw a very serious problem that society is facing in drunk driving, and if I felt like I had put in as much effort as I could into making people aware of this product and I felt like I succeeded in getting as many people as I could aware, then I would feel like I had done my part, and would be ready to move on to a different venture. Which is why I placed so much emphasis on marketing and reaching a target audience.
Friday, April 13, 2018
Assignment 27A: Reading Reflection No.3
I recently finished reading "The Wright Brothers" by David McCullough
1. After reading the biography on the Wright Brothers, a duo I knew almost nothing about, there were lots of pieces of information that surprised me in the text. One that really surprised me was the sheer amount of innovation and improvements of past models they made together that were unheard of at the time that contributed to their achievement of first ever successful human aircraft flight such as their improvements over the Zeppelin Airship and the invention of the wing-warping glider. I admired their dedication to their goal and how willing they were to put themselves in danger to test out their planes. What I least admired was that they refused to donate their famous "flyer" aircraft into the Smithsonian museum. There was much adversity and failure in regards to their goals. Many newspaper outlets published their failures and they were frequently ridiculed by peers, they also suffered many failures attempting to make the plane, even being involved in the first aircraft crash, but not getting seriously injured.
2. The Wright Brothers had many competencies that are worth sharing, but I think that their strongest competency was their innovation and drive. They worked on air crafts for several years before finally building the first successful one in 1900.
3. I was confused when it got a little technical with the building of the airplanes. I am not too familiar with the structure and all of the names of the plane parts they used and those parts were a little confusing to comprehend
4. How confident were you when you tried the airplane out for the first time? I want to know because they are putting their lives in real danger by testing out these new airborne inventions.
Did you think this was going to transform the way humans would travel long distances forever? I want to know if they were aware of the extent of their achievements.
5. I am sure that the Wright brothers believed in hard work as one of the most important things a person can do. Without putting in serious effort, they never would have invented one of the most important inventions of the 20th century.
1. After reading the biography on the Wright Brothers, a duo I knew almost nothing about, there were lots of pieces of information that surprised me in the text. One that really surprised me was the sheer amount of innovation and improvements of past models they made together that were unheard of at the time that contributed to their achievement of first ever successful human aircraft flight such as their improvements over the Zeppelin Airship and the invention of the wing-warping glider. I admired their dedication to their goal and how willing they were to put themselves in danger to test out their planes. What I least admired was that they refused to donate their famous "flyer" aircraft into the Smithsonian museum. There was much adversity and failure in regards to their goals. Many newspaper outlets published their failures and they were frequently ridiculed by peers, they also suffered many failures attempting to make the plane, even being involved in the first aircraft crash, but not getting seriously injured.
2. The Wright Brothers had many competencies that are worth sharing, but I think that their strongest competency was their innovation and drive. They worked on air crafts for several years before finally building the first successful one in 1900.
3. I was confused when it got a little technical with the building of the airplanes. I am not too familiar with the structure and all of the names of the plane parts they used and those parts were a little confusing to comprehend
4. How confident were you when you tried the airplane out for the first time? I want to know because they are putting their lives in real danger by testing out these new airborne inventions.
Did you think this was going to transform the way humans would travel long distances forever? I want to know if they were aware of the extent of their achievements.
5. I am sure that the Wright brothers believed in hard work as one of the most important things a person can do. Without putting in serious effort, they never would have invented one of the most important inventions of the 20th century.
Assignment 26A: Celebrating Failure
This past semester, after spending the first semester just trying to get acclimated to having moved away from home and just trying to focus on my classes, I decided to try and get more involved in order to keep me busy and build up my resume, and it turned out to be a lot harder than I initially thought.
My first attempt at getting involved was when I applied and was rejected in becoming a BUMP mentee. I had heard it was a great program for freshman business students to learn from upperclassmen and meet new peers. I had worked hard on my application and felt good about it only to have my hopes dashed when an email was sent to me a few days later telling me I did not get in.
Then I heard about FLA, the Florida Leadership Academy in which only the top 100 sophomores in the business school are selected, and I was quick to start working on building a great application, which was a grueling process, an essay, a resume, and a letter of recommendation was required. I worked for hours making sure my essay was perfect, and my resume was updated and I turned my application in confidently. The rejection letter naturally invaded my inbox just a few short days later and even though they let me down gently, they might as well have told me I was ugly and stupid because that is how I felt following another disappointing let down.
I knew I had to make money this semester so I decided that I had to get a job somewhere, and so I applied for server jobs at a few local restaurants, hoping to score some solid tips to balance out my unsparing spending habits of this past semester. I was not called back for an interview for any server jobs but I guess you can say it worked out for me because I landed a job spending 8 hours a day making Pitas at Pita Pit at minimum wage, and it doesn't ALWAYS suck.
What I Learned:
I learned not to give up when things are not going my way and that rejection is always a prerequisite for success. I am only a freshmen right now and so I have a lot of time to get involved and add resume builders to look more appealing to employers and prestigious clubs.
Reflection:
Handling rejection hasn't always been easy for me, I tend to obsess over my failures and not focus on the great successes i have had. My goal is to turn the excess energy I have obsessing over my failures into motivation for my next objectives and learn to move past the failures. Sometimes you just have to remember that even the most successful people have faced countless rejections and failures in their lives. This class changed my perspective on failure because I learned that it is not such a bad thing, often times rejection leads to lessons learned and so I would take more risks now, knowing this information.
Friday, April 6, 2018
Assignment 25A: What's Next?
Existing Market:
If I am able to successfully grow my product enough so that I can start working on the next innovation for it, I would consider working with companies attempting to make the first breathalyzers for THC, a chemical in Marijuana, that works in the same way as the alcohol breathalyzer. Marijuana use is only going to become more common the more it becomes legal and so this seems to be the right step to take this business.
I talked to a few people that fit into my market segment of concerned parents of teenage kids in high school or college and told them of my future ideas and asked what else I should be focusing on with this product. I was told that instead of focusing on the grand picture of stopping drunk driving completely, I first need to make sure that my product is developed in a way that will get people to buy it, size and compatibility with vehicles were brought up. I would have to make sure that my product is completely ready before I market it out to everyone. When I brought up the idea of testing for THC, I found that all of the parents were supportive of the idea and felt it was a good direction to follow up in, but one felt a little skeptical about how accurate that product could be and mentioned how it could affect the brand's credibility if I made a faulty product.
What makes the most sense in growing my business is to take it slow and make sure I have done every step completely and thoroughly before I move on with future ambitions. This means making sure my alcohol breathalyzer is effective, consistent, and accurate and market tested to see which size, color, etc that would be most effective in selling to customers. This has potential to be a very big business but if i rush production and get too ahead of myself in regard to trying to work on new things without perfecting my original product, i can cause this business to fail. I need to make sure my product is marketed extensively to raise awareness of its existence. Drunk driving is such a common and widespread issue that investing in advertising would surely pay off because I do not need to convince people why this product is useful or needed, i just need to let them know it exists.
New Market:
My radically different product would be a change to the manufacturing of food store and other retail store aisles where instead of the shelves having items on the bottom, middle and high up permanently, have it so the shelves can rotate with each other effectively solving two problems that retailers have. One of which being the issue of customers not being tall enough to reach the high shelves and the low shelves being too inconvenient for customers and also this would also make stocking shelves easier for employees. This would be a good business to business idea instead of the business to consumer idea for my other product.
It would create value for the retailer because the unique and innovative shelf system would be easy to use for both its employees and the customers and therefore more people will buy at this store and increase sales and profits for the retailer.
I interviewed three people who I thought would be interested in this concept. I was greeted with a lot of support when it came to making the shelves easier to reach, but there was some skepticism in regards to how the rotating system would work, such as if two people wanted it rotated in different ways at the same time, and of course the possibility of injuries or the system breaking down. A possible adaptation to the product suggested to me was instead of rotating each row, the only real problem people face is with the top row so just have that one able to move down and forward somewhat, making it easier to make and eliminating the issue of items falling off in the rotating process.
This new market idea seems plausible, but not as attractive to me as my other product. It is certainly true that more people shop for groceries than drive under the influence, but in regards to what product seems more practical and would actually make more money and sell, I think the breathalyzer is the winner.
If I am able to successfully grow my product enough so that I can start working on the next innovation for it, I would consider working with companies attempting to make the first breathalyzers for THC, a chemical in Marijuana, that works in the same way as the alcohol breathalyzer. Marijuana use is only going to become more common the more it becomes legal and so this seems to be the right step to take this business.
I talked to a few people that fit into my market segment of concerned parents of teenage kids in high school or college and told them of my future ideas and asked what else I should be focusing on with this product. I was told that instead of focusing on the grand picture of stopping drunk driving completely, I first need to make sure that my product is developed in a way that will get people to buy it, size and compatibility with vehicles were brought up. I would have to make sure that my product is completely ready before I market it out to everyone. When I brought up the idea of testing for THC, I found that all of the parents were supportive of the idea and felt it was a good direction to follow up in, but one felt a little skeptical about how accurate that product could be and mentioned how it could affect the brand's credibility if I made a faulty product.
What makes the most sense in growing my business is to take it slow and make sure I have done every step completely and thoroughly before I move on with future ambitions. This means making sure my alcohol breathalyzer is effective, consistent, and accurate and market tested to see which size, color, etc that would be most effective in selling to customers. This has potential to be a very big business but if i rush production and get too ahead of myself in regard to trying to work on new things without perfecting my original product, i can cause this business to fail. I need to make sure my product is marketed extensively to raise awareness of its existence. Drunk driving is such a common and widespread issue that investing in advertising would surely pay off because I do not need to convince people why this product is useful or needed, i just need to let them know it exists.
New Market:
My radically different product would be a change to the manufacturing of food store and other retail store aisles where instead of the shelves having items on the bottom, middle and high up permanently, have it so the shelves can rotate with each other effectively solving two problems that retailers have. One of which being the issue of customers not being tall enough to reach the high shelves and the low shelves being too inconvenient for customers and also this would also make stocking shelves easier for employees. This would be a good business to business idea instead of the business to consumer idea for my other product.
It would create value for the retailer because the unique and innovative shelf system would be easy to use for both its employees and the customers and therefore more people will buy at this store and increase sales and profits for the retailer.
I interviewed three people who I thought would be interested in this concept. I was greeted with a lot of support when it came to making the shelves easier to reach, but there was some skepticism in regards to how the rotating system would work, such as if two people wanted it rotated in different ways at the same time, and of course the possibility of injuries or the system breaking down. A possible adaptation to the product suggested to me was instead of rotating each row, the only real problem people face is with the top row so just have that one able to move down and forward somewhat, making it easier to make and eliminating the issue of items falling off in the rotating process.
This new market idea seems plausible, but not as attractive to me as my other product. It is certainly true that more people shop for groceries than drive under the influence, but in regards to what product seems more practical and would actually make more money and sell, I think the breathalyzer is the winner.
Assignment 24A: Venture Concept No. 1
Opportunity:
My product consists of a breathalyzer attachment that can be permanently placed into any type of vehicle and be required to successfully use between the hours of 10 PM and 4 AM to start the car, the times of the night when most drunk driving incidents occur.
I have identified two market segments of people who would buy this product. One group of people would be those that go out often, are young and relatively new to driving, and may consider themselves a risk to drunk drive, or have driven under the influence before. My other target segment, and the one I feel is more prominent, includes concerned parents of high school or college aged kids that are just learning to drive and are afraid of their children making a poor decision.
The forces in the environment creating this opportunity would be the growing amount of drunk driving related deaths and occurrences happening today. Drunk driving related deaths are one of the most common killers of teens and young adults and it is a growing problem that needs to be seriously dealt with.
Geographically, this product can be sold anywhere, drunk driving is not just a problem in some areas and not in others. It is a widespread issue that can be a problem in any location. Demographically, it is more common for young adults and teens to be involved in drunk driving related incidents, therefore it is best to market this product in stores where many people who are around the age of a parent with a teenager or young adult would shop at in order to maximize revenue and profits.
There is no current way customers are satisfying this need right now. The only thing stopping peoploe from driving drunk is their own discipline and awareness for their own safety, the safety of others and the fairly strict laws we have in place right now.
This opportunity has the potential to be huge. Driving under the influence is one of the biggest killers of teens and young adults today and currently there is nothing concrete stopping these incidents from happening. If I had a sensible and practical product that worked how I described it too and those in my target markets were aware of this product, it would be a huge success financially, and save countless of lives as well.
The window of opportunity will be open as long as people are still driving cars and alcohol is still legal. The window will not be closing anytime soon, This is a growing issue, and this solution would be useful and popular among people for a very long time to come because drunk driving will always be something that is going to happen unfortunately, but this can be a great way to slash those death numbers severely.
Innovation:
If I were able to sell my product exactly how I wanted it to be, it would be a surefire financial success and make my business very profitable. The goal for my breathalyzer would be to have a few key features that would make it stand out from others and be a practical solution to the problem I am trying to solve: drunk driving.
My product would be small and not take up that much room, so it does not seem like a hindrance to the driver or look unappealing in anyway.
I would like the breathalyzer to be able to function accurately and consistently and make it so after you breathe in it, it displays a clear number that shows the blood-alcohol level currently being tested, and function in a way so that a successful use would start the car and a failing use would make it so the car cannot be started until a successful use is drawn or until the time is out of the zone of use, (10 Pm - 4 AM)
My last feature of the product I would like to see is ability to be attached to any type of vehicle, this would probably require some sort of Bluetooth or wireless connection in order to work for any type of vehicle, but once its connected, cannot be disconnected unless through a way that can only be accomplished away from the car, therefore someone cannot drive home drunk by bypassing the system.
Venture Concept:
This product will solve the problem of drunk driving because it makes driving the car physically impossible if you are drunk in the time period listed. It would guarantee safety for the would be driver and other innocent people out there on the road.
I am unsure if anyone would buy this for themselves because they feel like they are a risk to drunk driving but I think if the government got involved and made it so offenders have to get one for a lowered charge, then this would very much sell to this group. Also, I know that concerned parents of their kids would buy this because this guarantees safety of their kids and to most parents, there is nothing more important or a bigger priority.
There does not seem to be any actual competitors that have an established brand selling this product right now so if I market this correctly, I can be the only brand that does this that people will know about.
The packaging should be small to stress the fact that this product is practical and not a hindrance to safe drivers and the distribution needs to be in stores where middle aged parents commonly shop, such as retail stores like Home Depot, Walmart, and auto shop stores preferably.
I would need manufacturers for me and to rent warehouse space in order to make this product, I would market extensively through advertisement because awareness is key for this business and then I would meet with retailers to convince them that they need this product in their stores.
1. My unfair advantage I have over others is that this problem is a very big one and there is no current solution out there that can also work as a profitable business. If people knew about my product, it would be a huge success since the problem is so widespread.
2. My next venture regarding this product would be to possibly work with companies trying to develop a breathalyzer for THC, since marijuana is legal in many places now and can also hinder someones ability to drive.
3. I want to be successful enough with this business to be able to grow other businesses and maybe try and continue attempting to solve large scale problems with products that can serve to make me money too.
My product consists of a breathalyzer attachment that can be permanently placed into any type of vehicle and be required to successfully use between the hours of 10 PM and 4 AM to start the car, the times of the night when most drunk driving incidents occur.
I have identified two market segments of people who would buy this product. One group of people would be those that go out often, are young and relatively new to driving, and may consider themselves a risk to drunk drive, or have driven under the influence before. My other target segment, and the one I feel is more prominent, includes concerned parents of high school or college aged kids that are just learning to drive and are afraid of their children making a poor decision.
The forces in the environment creating this opportunity would be the growing amount of drunk driving related deaths and occurrences happening today. Drunk driving related deaths are one of the most common killers of teens and young adults and it is a growing problem that needs to be seriously dealt with.
Geographically, this product can be sold anywhere, drunk driving is not just a problem in some areas and not in others. It is a widespread issue that can be a problem in any location. Demographically, it is more common for young adults and teens to be involved in drunk driving related incidents, therefore it is best to market this product in stores where many people who are around the age of a parent with a teenager or young adult would shop at in order to maximize revenue and profits.
There is no current way customers are satisfying this need right now. The only thing stopping peoploe from driving drunk is their own discipline and awareness for their own safety, the safety of others and the fairly strict laws we have in place right now.
This opportunity has the potential to be huge. Driving under the influence is one of the biggest killers of teens and young adults today and currently there is nothing concrete stopping these incidents from happening. If I had a sensible and practical product that worked how I described it too and those in my target markets were aware of this product, it would be a huge success financially, and save countless of lives as well.
The window of opportunity will be open as long as people are still driving cars and alcohol is still legal. The window will not be closing anytime soon, This is a growing issue, and this solution would be useful and popular among people for a very long time to come because drunk driving will always be something that is going to happen unfortunately, but this can be a great way to slash those death numbers severely.
Innovation:
If I were able to sell my product exactly how I wanted it to be, it would be a surefire financial success and make my business very profitable. The goal for my breathalyzer would be to have a few key features that would make it stand out from others and be a practical solution to the problem I am trying to solve: drunk driving.
My product would be small and not take up that much room, so it does not seem like a hindrance to the driver or look unappealing in anyway.
I would like the breathalyzer to be able to function accurately and consistently and make it so after you breathe in it, it displays a clear number that shows the blood-alcohol level currently being tested, and function in a way so that a successful use would start the car and a failing use would make it so the car cannot be started until a successful use is drawn or until the time is out of the zone of use, (10 Pm - 4 AM)
My last feature of the product I would like to see is ability to be attached to any type of vehicle, this would probably require some sort of Bluetooth or wireless connection in order to work for any type of vehicle, but once its connected, cannot be disconnected unless through a way that can only be accomplished away from the car, therefore someone cannot drive home drunk by bypassing the system.
Venture Concept:
This product will solve the problem of drunk driving because it makes driving the car physically impossible if you are drunk in the time period listed. It would guarantee safety for the would be driver and other innocent people out there on the road.
I am unsure if anyone would buy this for themselves because they feel like they are a risk to drunk driving but I think if the government got involved and made it so offenders have to get one for a lowered charge, then this would very much sell to this group. Also, I know that concerned parents of their kids would buy this because this guarantees safety of their kids and to most parents, there is nothing more important or a bigger priority.
There does not seem to be any actual competitors that have an established brand selling this product right now so if I market this correctly, I can be the only brand that does this that people will know about.
The packaging should be small to stress the fact that this product is practical and not a hindrance to safe drivers and the distribution needs to be in stores where middle aged parents commonly shop, such as retail stores like Home Depot, Walmart, and auto shop stores preferably.
I would need manufacturers for me and to rent warehouse space in order to make this product, I would market extensively through advertisement because awareness is key for this business and then I would meet with retailers to convince them that they need this product in their stores.
1. My unfair advantage I have over others is that this problem is a very big one and there is no current solution out there that can also work as a profitable business. If people knew about my product, it would be a huge success since the problem is so widespread.
2. My next venture regarding this product would be to possibly work with companies trying to develop a breathalyzer for THC, since marijuana is legal in many places now and can also hinder someones ability to drive.
3. I want to be successful enough with this business to be able to grow other businesses and maybe try and continue attempting to solve large scale problems with products that can serve to make me money too.
Friday, March 30, 2018
Assignment 22A: Elevator Pitch 3
Youtube Link ------> https://www.youtube.com/watch?v=5yvYyqnioCo&feature=youtu.be
The feedback I received was very helpful. What surprised me the most was that I did not make enough eye contact with the camera last time so I made sure to try and fix that, along with more facial expressions in this video.
Based on the feedback, I Made more eye contact and I cut down my pitch a lot, down from 90 to 60 seconds.
The feedback I received was very helpful. What surprised me the most was that I did not make enough eye contact with the camera last time so I made sure to try and fix that, along with more facial expressions in this video.
Based on the feedback, I Made more eye contact and I cut down my pitch a lot, down from 90 to 60 seconds.
Assignment 23A: Your Venture's Unfair Advantage
Human Capital: Leadership Experience
I have sufficient experience being in leadership roles, being the captain of my high school tennis team junior and senior year, and being the vice president of one of my high school's only community service clubs.
Valuable: These experiences are very valuable, they teach you lessons and develop skills that you cannot learn in a classroom setting
Rarity: For an entrepreneur as young as I am it is uncommon to have plenty of leadership experience
Inimitable: My unique experiences are not possible to be imitated, but the skills strengthened by being in a leadership position can be learned easily by others.
Non - Substitutable: There are many opportunities available for people to learn leadership skills and have the chance to be a leader in some organization
Human Capital: Fundraiser Experience
As captain of the tennis team, I was in charge of running the fundraisers for the team and we raised over $1000 both my junior and senior year
Valuable: These experiences were valuable, it taught me effective ways to organize events to gain funding and how to manage the money we gained
Rarity: Experience running fundraisers is not all that common at my age
Inimitable: Anyone can start their own fundraiser but its hard to imitate the success of one unless you have the skills to know how to do it right
Non - Substitutable: There are many types of fundraiser activities available and other ways you can fund money for a business such as investors
Organizational: Lack of Competitors
There are barely any competing firms making breathalyzer attachments for vehicles to prevent driving under the influence
Valuable: This is extremely valuable, to have a needed solution to a problem with a lack of competitors can be very profitable
Rarity: It is rare to have a business that solves such a large problem and not have anyone else competing against you for your customers
Inimitable: The product can be imitated unless I try and patent it which would be one of my first steps
Non substitutable: You can still get a majority share of the market buying your product even with competitors if you have something proprietary and different in your product to make it stand out.
Human Capital: Relate to Target Market
One of my target markets are college students who go out frequently, and although I do not go out a lot, many of my friends do and i am familiar with numerous amounts of people in this market segment
Valuable: This is valuable in my opinion, being able to relate to the target market and understand their thought process is important in being able to effectively reach your market
Rarity: This is not too rare, most people who start a business have a good relation or have many contacts with those in their target market
Inimitable: This can be imitated by reaching out to your own target market or conducting surveys to figure out what your buyers like, and learn more about them.
Non - Substitutable: You can get this benefit by hiring employees that can better relate to your target market
Social Capital: Publicity
The issue of drunk driving is a very hot issue today as it causes thousands of fatalities a year. News channels and papers always report incidents like this and awareness of the issue is at an all time high
Valuable: This is an extremely valuable resource because it makes people become more and more aware of this problem and will force people to look for ways to solve the problem which is where my product comes in
Rarity: This is very rare to have a product that answers a problem that has this much publicity. Drunk driver awareness is very high and and is a problem that has high awareness as well
Inimitable: It is hard to imitate having this level of publicity, but there are awareness raising advertising campaigns that you can do to get some publicity
Non - Substitutable: The benefit you get from publicity is hard to get in other ways, you cannot get a product to be very successful without ways for people to learn about it
Social Capital: Heavener Student
Being in the Heavener School of Business, I have the opportunity to meet and talk to many ambitious business students and get recommendations on how to better my product and hear other good advice
Valuable: This is somewhat valuable to me, those in Heavener like me are also inexperienced and may not be able to offer the best advice in going forward
Rarity: This is not very rare, it is easy to find people with a business background who can atleast give you advice and help in other ways
Inimitable: It can be pretty easy to imitate this, you can join business clubs anywhere or reach out to people you know and get help
Non - Substitutable: You can get the benefit of good social connections in many places and in all types of organizations
Financial Capital: Funds Saved From Work
Having worked in a food store junior and senior year and over the summer, as well as currently having a job here at UF, I have a lot of money saved up that I can use toward building my business
Valuable: This is very valuable, you cannot start a business without spending some of your own money and so having money to spend makes building the business a possibility
Rarity: This is not rare at all, every business that starts up has money to use towards it and if you do not have any of your own, then people find investors or get loans
Inimitable: This is easy to imitate, anyone can spend their own money to start a business or get a job to help you get money
Non - Substitutable: There are many ways to get money without using your own, you can raise funds, or you can get a loan or seek out an investor
Human Capital: Marketing Knowledge
Having taken almost a full semester of Principles of Marketing, I have sufficient knowledge on the types of marketing and what could work best for a product like this
Valuable: This is somewhat valuable to a business. I am by no means a marketing expert but I have learned sufficient knowledge that can save me the trouble later of learning how to market my product
Rare: Knowledge in how to sell your product is not something that is rare, it is pretty common, it is almost a necessity to make a product successful
Inimitable: It is fairly easy to imitate this skill, you would just need to learn and research the art of marketing to be able to expand your knowledge on the subject
Non - Substitutable: You can just hire an employee who has expertise in marketing knowledge to help you in this situation
Human Capital: Sufficient Writing Skills
Being able to write with a nice flow to it as well as constructing elevator pitches that best get your point across can be a helpful tool in acquiring investors and selling to consumers
Valuable: This is very valuable, being able to effectively write speeches that allows you to get a clear point across will allow you to gain many more customers and acquire investors
Rare: Solid writing skills are not that uncommon, people have access to many opportunities online and through classes and experience to strengthen writing skills
Inimitable: Writing comes easier to some and not to others. You can imitate good writing skills but it can take more work than someone who is naturally talented
Non - Substitutable: You can always hire people to write for you to gain the same benefit or just rely on being a good orator to get the same results
Human Capital: Comfortable Speaking Publicly
I have had many experiences public speaking in small groups and to large audiences, and have grown accustomed to the pressures of public speaking
Valuable: This is a valuable trait, being the owner or creator of the company, you are often a public figure and will have to give many speeches to investors or to consumers and so being comfortable is essential
Rare: Pubic speaking skills are becoming more common and not as rare. It is not so uncommon to be a good orator and speak well
Inimitable: You can learn to be a good speaker with practice, but it may not come as easy to some as others, making it difficult to imitate
Non - Substitutable: Being the face of the company, being able to public speak effectively and persuasively is critical and difficult to find a way to get this benefit in another way
Top Resource: I believe my top resource and best advantage I have is the sheer level of publicity this problem already has. Many people create products for a niche market or for a need that not many people have, but drunk driving is a widely known problem that many people are in need of a solution for, and so by having a product answer to a problem that already so many people face is my biggest advantage thus far.
I have sufficient experience being in leadership roles, being the captain of my high school tennis team junior and senior year, and being the vice president of one of my high school's only community service clubs.
Valuable: These experiences are very valuable, they teach you lessons and develop skills that you cannot learn in a classroom setting
Rarity: For an entrepreneur as young as I am it is uncommon to have plenty of leadership experience
Inimitable: My unique experiences are not possible to be imitated, but the skills strengthened by being in a leadership position can be learned easily by others.
Non - Substitutable: There are many opportunities available for people to learn leadership skills and have the chance to be a leader in some organization
Human Capital: Fundraiser Experience
As captain of the tennis team, I was in charge of running the fundraisers for the team and we raised over $1000 both my junior and senior year
Valuable: These experiences were valuable, it taught me effective ways to organize events to gain funding and how to manage the money we gained
Rarity: Experience running fundraisers is not all that common at my age
Inimitable: Anyone can start their own fundraiser but its hard to imitate the success of one unless you have the skills to know how to do it right
Non - Substitutable: There are many types of fundraiser activities available and other ways you can fund money for a business such as investors
Organizational: Lack of Competitors
There are barely any competing firms making breathalyzer attachments for vehicles to prevent driving under the influence
Valuable: This is extremely valuable, to have a needed solution to a problem with a lack of competitors can be very profitable
Rarity: It is rare to have a business that solves such a large problem and not have anyone else competing against you for your customers
Inimitable: The product can be imitated unless I try and patent it which would be one of my first steps
Non substitutable: You can still get a majority share of the market buying your product even with competitors if you have something proprietary and different in your product to make it stand out.
Human Capital: Relate to Target Market
One of my target markets are college students who go out frequently, and although I do not go out a lot, many of my friends do and i am familiar with numerous amounts of people in this market segment
Valuable: This is valuable in my opinion, being able to relate to the target market and understand their thought process is important in being able to effectively reach your market
Rarity: This is not too rare, most people who start a business have a good relation or have many contacts with those in their target market
Inimitable: This can be imitated by reaching out to your own target market or conducting surveys to figure out what your buyers like, and learn more about them.
Non - Substitutable: You can get this benefit by hiring employees that can better relate to your target market
Social Capital: Publicity
The issue of drunk driving is a very hot issue today as it causes thousands of fatalities a year. News channels and papers always report incidents like this and awareness of the issue is at an all time high
Valuable: This is an extremely valuable resource because it makes people become more and more aware of this problem and will force people to look for ways to solve the problem which is where my product comes in
Rarity: This is very rare to have a product that answers a problem that has this much publicity. Drunk driver awareness is very high and and is a problem that has high awareness as well
Inimitable: It is hard to imitate having this level of publicity, but there are awareness raising advertising campaigns that you can do to get some publicity
Non - Substitutable: The benefit you get from publicity is hard to get in other ways, you cannot get a product to be very successful without ways for people to learn about it
Social Capital: Heavener Student
Being in the Heavener School of Business, I have the opportunity to meet and talk to many ambitious business students and get recommendations on how to better my product and hear other good advice
Valuable: This is somewhat valuable to me, those in Heavener like me are also inexperienced and may not be able to offer the best advice in going forward
Rarity: This is not very rare, it is easy to find people with a business background who can atleast give you advice and help in other ways
Inimitable: It can be pretty easy to imitate this, you can join business clubs anywhere or reach out to people you know and get help
Non - Substitutable: You can get the benefit of good social connections in many places and in all types of organizations
Financial Capital: Funds Saved From Work
Having worked in a food store junior and senior year and over the summer, as well as currently having a job here at UF, I have a lot of money saved up that I can use toward building my business
Valuable: This is very valuable, you cannot start a business without spending some of your own money and so having money to spend makes building the business a possibility
Rarity: This is not rare at all, every business that starts up has money to use towards it and if you do not have any of your own, then people find investors or get loans
Inimitable: This is easy to imitate, anyone can spend their own money to start a business or get a job to help you get money
Non - Substitutable: There are many ways to get money without using your own, you can raise funds, or you can get a loan or seek out an investor
Human Capital: Marketing Knowledge
Having taken almost a full semester of Principles of Marketing, I have sufficient knowledge on the types of marketing and what could work best for a product like this
Valuable: This is somewhat valuable to a business. I am by no means a marketing expert but I have learned sufficient knowledge that can save me the trouble later of learning how to market my product
Rare: Knowledge in how to sell your product is not something that is rare, it is pretty common, it is almost a necessity to make a product successful
Inimitable: It is fairly easy to imitate this skill, you would just need to learn and research the art of marketing to be able to expand your knowledge on the subject
Non - Substitutable: You can just hire an employee who has expertise in marketing knowledge to help you in this situation
Human Capital: Sufficient Writing Skills
Being able to write with a nice flow to it as well as constructing elevator pitches that best get your point across can be a helpful tool in acquiring investors and selling to consumers
Valuable: This is very valuable, being able to effectively write speeches that allows you to get a clear point across will allow you to gain many more customers and acquire investors
Rare: Solid writing skills are not that uncommon, people have access to many opportunities online and through classes and experience to strengthen writing skills
Inimitable: Writing comes easier to some and not to others. You can imitate good writing skills but it can take more work than someone who is naturally talented
Non - Substitutable: You can always hire people to write for you to gain the same benefit or just rely on being a good orator to get the same results
Human Capital: Comfortable Speaking Publicly
I have had many experiences public speaking in small groups and to large audiences, and have grown accustomed to the pressures of public speaking
Valuable: This is a valuable trait, being the owner or creator of the company, you are often a public figure and will have to give many speeches to investors or to consumers and so being comfortable is essential
Rare: Pubic speaking skills are becoming more common and not as rare. It is not so uncommon to be a good orator and speak well
Inimitable: You can learn to be a good speaker with practice, but it may not come as easy to some as others, making it difficult to imitate
Non - Substitutable: Being the face of the company, being able to public speak effectively and persuasively is critical and difficult to find a way to get this benefit in another way
Top Resource: I believe my top resource and best advantage I have is the sheer level of publicity this problem already has. Many people create products for a niche market or for a need that not many people have, but drunk driving is a widely known problem that many people are in need of a solution for, and so by having a product answer to a problem that already so many people face is my biggest advantage thus far.
Friday, March 23, 2018
Assignment 21A: Reading Reflection No. 2
Andrew Carnegie - David Nasaw
1) What was the general theme or argument of the book?
The book did not just tell his story and the facts behind it, but attempted to go into Carnegie's mind and elaborate on what shaped his success, his philosophical opinions, and the choices and reasoning behind his decisions that allowed him to become one of the wealthiest men of the 19th and early 20th century. The author wants to argue that Carnegie was not just a smart businessman, but a true visionary and an inspiring success story because of not only his rags to riches story, but because he never abandoned the lower class, he knew of the responsibilities of the wealthy and and truly defined the roles of the upper class.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
I remember in one of the lectures an important point made that you actually have a better chance of succeeding as an entrepreneur by not having a lot of money to spend and use freely than that of an entrepreneur with a large amount of money available for use. This was proven with the story of Andrew Carnegie, part of a poor family who emigrated to the US from Scotland, he had to work for the money he got and used it carefully once he began investing in companies and building his capital and wealth. Another important point was when i read that he took advantage of the connections he made working as a telegraph boy on the railroads for his future business endeavors. He used a form of networking to advance his career.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
Carnegie wrote about the Gospel of Wealth - the responsibilities the rich and upper class wealthy people have in order to help out the lower class and ensure those fortunate enough to be rich are giving back and doing their part. For the class, I would have everybody write what their responsibilities as a UF student are, what are the advantages you have as someone in a top 10 public university over someone in a less prestigious college?
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
Before reading David Nasaw's book, I had pictured Carnegie as someone who exploited the free market capitalism of the industrial revolution and amassed his fortune with the desire of getting as rich as possible. But what shocked me was how much he detested people who were wealthy, believing to die rich was a sin. So he drafted a Gospel of Wealth written for wealthy people to argue his view that the rich had a responsibility to give back as much as possible. I was astounded to find that Carnegie's philanthropic work had amassed over 76 billion dollars in today's adjusted count.
1) What was the general theme or argument of the book?
The book did not just tell his story and the facts behind it, but attempted to go into Carnegie's mind and elaborate on what shaped his success, his philosophical opinions, and the choices and reasoning behind his decisions that allowed him to become one of the wealthiest men of the 19th and early 20th century. The author wants to argue that Carnegie was not just a smart businessman, but a true visionary and an inspiring success story because of not only his rags to riches story, but because he never abandoned the lower class, he knew of the responsibilities of the wealthy and and truly defined the roles of the upper class.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
I remember in one of the lectures an important point made that you actually have a better chance of succeeding as an entrepreneur by not having a lot of money to spend and use freely than that of an entrepreneur with a large amount of money available for use. This was proven with the story of Andrew Carnegie, part of a poor family who emigrated to the US from Scotland, he had to work for the money he got and used it carefully once he began investing in companies and building his capital and wealth. Another important point was when i read that he took advantage of the connections he made working as a telegraph boy on the railroads for his future business endeavors. He used a form of networking to advance his career.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
Carnegie wrote about the Gospel of Wealth - the responsibilities the rich and upper class wealthy people have in order to help out the lower class and ensure those fortunate enough to be rich are giving back and doing their part. For the class, I would have everybody write what their responsibilities as a UF student are, what are the advantages you have as someone in a top 10 public university over someone in a less prestigious college?
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
Before reading David Nasaw's book, I had pictured Carnegie as someone who exploited the free market capitalism of the industrial revolution and amassed his fortune with the desire of getting as rich as possible. But what shocked me was how much he detested people who were wealthy, believing to die rich was a sin. So he drafted a Gospel of Wealth written for wealthy people to argue his view that the rich had a responsibility to give back as much as possible. I was astounded to find that Carnegie's philanthropic work had amassed over 76 billion dollars in today's adjusted count.
Assignment 20A - Growing Your Social Capital
Domain Expert:
I recently got into contact with Stacey Sachs, the vice president of marketing at BACtrack, which is the industry leading company in standard alcohol breathalyzers. What makes her a domain expert is that she is in charge of gaining awareness and making sure her marketing strategies translate to sales for the business. This would most likely be my role in the business idea that I am proposing, I would not be the one making the product or designing it, but in charge of making sure my breathalyzer sells, and the right audience hears about it.
My first step was to figure out who was the biggest breathalyzer company and then from there, see who I could get in contact with from that company. Her name was listed on the contacts page of the company website and i initially sent a brief email to her stating who I was and what advice she can give me, but as the due date started to roll around and with no response, I just decided to call the number that was listed under her name. I did reach her and she briefly explained what her role was in the company and told me she was very supportive of my idea and impressed with the initiatives I took to reach out to bigger companies, and the advice she gave me was simple, make sure that this is something you are absolutely passionate about, and that you feel is innovative and realistic enough to sell to a large amount of people.
Market Expert:
My friend Brett, from back home is my age and also is a freshmen but at FGCU. I emailed his dad, Will Delucca, because I realized that he was a perfect fit for my target market, and thus, represents a major piece of my market of parents with college aged kids with a car. I had always remembered him as someone who could be at times strict but like most parents, he cared most about his children, in this case, his only son, and would do anything to make sure he was safe.
I explained to him the reason for reaching out, and asked him if he thought he would buy a product like this one and what changes he would make to the business idea if he had any. He responded quickly, and said that he would indeed buy a product like this for his son if it was available and that he does worry a little bit about Brett having his car at Florida Gulf Coast and making sure he is always safe and responsible when it comes to going out and driving, but he said he was also confident in that he raised a smart and responsible young man and does not feel Brett would ever drink and drive. But he also mentioned that some kids may object to this being placed on their car and that sometimes parents just need to trust their kids. By having assurance that my target segment would buy this product as well as a better understanding of the thought process a parent has when considering how much control you should have over your kids life and when to give them independence helped me grip a better understanding of the mindset of my target audience.
Industry Supplier:
While looking to find suppliers to a business or firm that sells breathalyzers, I came across something I found very interesting. With recent state law changes that now allow recreational marijuana, there is a rush to develop and sell breathalyzers that can detect marijuana, which can also hinder a persons ability to drive and put peoples lives at risk.
I got in contact with media spokesperson Scott Ledingham of Cannabix Technologies, a company developing breathalyzers for THC, to try and find out more about the development process and the plan to to sell to other firms. There were not many details he was allowed to share with me but he said they were going to launch the product by the end of the year. Once I explained that I was doing this for my Entrepreneurship class, he was willing to hear my business plan and encouraged me to continue doing research and to try and get in contact with some of the manufacturers of standard alcohol breathalyzers to talk more about my idea. I was grateful for his help and the information he provided allowed me to realize how competitive this industry was, to my surprise, and to figure out what my next steps should be.
Reflection:
This experience was like nothing I have ever done before. Actually calling and emailing people that worked in this industry and were willing to help me was very encouraging. For future events, I need to remember to be prepared with what I want to say and what message I want to get across, and I should have more of my business idea more thoroughly thought out or progressed more before I continue with more target networking. I have never networked before when it comes to a professional business idea, it was an entirely new experience for me and it felt like a great starting point to improve on.
I recently got into contact with Stacey Sachs, the vice president of marketing at BACtrack, which is the industry leading company in standard alcohol breathalyzers. What makes her a domain expert is that she is in charge of gaining awareness and making sure her marketing strategies translate to sales for the business. This would most likely be my role in the business idea that I am proposing, I would not be the one making the product or designing it, but in charge of making sure my breathalyzer sells, and the right audience hears about it.
My first step was to figure out who was the biggest breathalyzer company and then from there, see who I could get in contact with from that company. Her name was listed on the contacts page of the company website and i initially sent a brief email to her stating who I was and what advice she can give me, but as the due date started to roll around and with no response, I just decided to call the number that was listed under her name. I did reach her and she briefly explained what her role was in the company and told me she was very supportive of my idea and impressed with the initiatives I took to reach out to bigger companies, and the advice she gave me was simple, make sure that this is something you are absolutely passionate about, and that you feel is innovative and realistic enough to sell to a large amount of people.
Market Expert:
My friend Brett, from back home is my age and also is a freshmen but at FGCU. I emailed his dad, Will Delucca, because I realized that he was a perfect fit for my target market, and thus, represents a major piece of my market of parents with college aged kids with a car. I had always remembered him as someone who could be at times strict but like most parents, he cared most about his children, in this case, his only son, and would do anything to make sure he was safe.
I explained to him the reason for reaching out, and asked him if he thought he would buy a product like this one and what changes he would make to the business idea if he had any. He responded quickly, and said that he would indeed buy a product like this for his son if it was available and that he does worry a little bit about Brett having his car at Florida Gulf Coast and making sure he is always safe and responsible when it comes to going out and driving, but he said he was also confident in that he raised a smart and responsible young man and does not feel Brett would ever drink and drive. But he also mentioned that some kids may object to this being placed on their car and that sometimes parents just need to trust their kids. By having assurance that my target segment would buy this product as well as a better understanding of the thought process a parent has when considering how much control you should have over your kids life and when to give them independence helped me grip a better understanding of the mindset of my target audience.
Industry Supplier:
While looking to find suppliers to a business or firm that sells breathalyzers, I came across something I found very interesting. With recent state law changes that now allow recreational marijuana, there is a rush to develop and sell breathalyzers that can detect marijuana, which can also hinder a persons ability to drive and put peoples lives at risk.
I got in contact with media spokesperson Scott Ledingham of Cannabix Technologies, a company developing breathalyzers for THC, to try and find out more about the development process and the plan to to sell to other firms. There were not many details he was allowed to share with me but he said they were going to launch the product by the end of the year. Once I explained that I was doing this for my Entrepreneurship class, he was willing to hear my business plan and encouraged me to continue doing research and to try and get in contact with some of the manufacturers of standard alcohol breathalyzers to talk more about my idea. I was grateful for his help and the information he provided allowed me to realize how competitive this industry was, to my surprise, and to figure out what my next steps should be.
Reflection:
This experience was like nothing I have ever done before. Actually calling and emailing people that worked in this industry and were willing to help me was very encouraging. For future events, I need to remember to be prepared with what I want to say and what message I want to get across, and I should have more of my business idea more thoroughly thought out or progressed more before I continue with more target networking. I have never networked before when it comes to a professional business idea, it was an entirely new experience for me and it felt like a great starting point to improve on.
Assignment 19A: Idea Napkin No. 2
1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
My name is Matthew Walsh, and the classes and experiences I've had has allowed me to sharpen my writing and public speaking skills as well as quick problem solving and the ability to work in groups effectively. My aspirations include graduating with a business degree at UF while having gained enough skills to excel in the field of work that I decide to pursue after my college education. One of my goals would be to start up a successful business and should I choose to continue working on my business idea, I would put all my time and energy into it to either ensure its success or know that I gave all my effort into trying to make it work. If I did decide to start my own business, I would be all hands in and make it my top priority.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
My product idea is a breathalyzer attachment that would be able to be installed into any vehicle and would require a successful use of it in order to actually start the vehicle. This would only be necessary at certain times of the night, possibly 10 PM to 4 AM, in order to make this seem less of a nuisance to safe drivers and to make it more practical to buy. Drunk driving deaths are a major problem all over, and a product like this has the potential to severely dwindle those annual drunk driving related deaths.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
I have two main target segments in mind when I think about marketing this product. The first one would be those who are actual threats to drink and drive, this may be those with an extensive nightlife or repeat offenders of driving while under the influence. These are the people that need a product like this most but I assume many of them would not buy this for themselves. If there were a way to implement a program where someone charged with a DUI can have the option to purchase this product so as to minimize the charges against them would seem like the optimal way to reach this market.
My other target segment, the one that seems more likely to purchase and most of the feedback I've received have supported this segment, are concerned parents of high school and college aged kids that have a car. Parents want to make sure their kids are safe and make the right decisions, and this is a solution for parents of young drivers and teens that go out a lot. What these customers all have in common is their desire to not have themselves or someone they care about ever involved in a drunk driving incident or in a situation where they are vulnerable to making a poor decision. This product eliminates the option of driving while under the influence for you.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
There are many reasons why a product like this is valuable to a purchaser. For those that have been charged with a DUI, preventing a second DUI could save themselves the trouble of losing their license or their car, but most importantly, this product can prevent people from injuring or killing themselves or other innocent people. Most parents believe that above everything else, the safety of their kids, their family members well-being, is the most important thing, and if this product can lesson the chance of something bad happening and prevent poor choices being made that can endanger their children, parents will buy it.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
When I thought of this product, I looked it up to see if anyone was selling it already and it turned out there were a few things similar to this available. But I had never heard of a company that sells these, and everyone I talked to had not seen this in stores or even known about the existence of a product like this that was readily available to buy. What I can do differently is market this product a different way. I would appeal to the right market segments, get this product in retail stores available to everyone, and I would ensure that my product was the best, making it easy to use and attach, and compatible with any type of vehicle. If I were able to accomplish these goals, people would be aware of this product, understand its benefits, and be compelled to buy it.
In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
What fits together of these business elements for me is who I am offering it too, and why they should care. Whether you are a risk of drunk driving and want to avoid legal trouble and protect yourself or others, or whether you are a parent looking to make sure your kids are safe behind the wheel, this product has value to both these market segments. Both of these market segments have problems that can be solved with this product which makes it valuable to them. What does not fit in my business plan is that these two market segments are vastly different groups of people for the most part. It would be difficult to display two different messages to two different demographics, I would need to find a way to have one consistent message that appeals to both parties and maybe people that fall outside these two defined groups of people in order to maximize sales.
Feedback Memo
The feedback I received included points made about including government support for this product and the price and making sure it is affordable. I thought it would be an excellent idea to try and incorporate government support into the product so I decided to add a proposed system into my idea napkin that included a way to have those charged with a DUI given a minimized sentence or fine for getting this attachment installed into their vehicles. This way, those who have driven under the influence are heavily encouraged to buy this product, and it can dwindle the number of drunk driving occurrences.
Being able to work an affordable price while making this product higher quality than other products like this is trickier to answer. I cannot say for sure right now how I would be able to build this and ensure it is a price low enough so that people will buy it, but what I can offer is high amounts of advertisement and marketing to the right segments so there is increased awareness of this product, and if people knew this existed, they would buy it anyway, because the safety of their children has no price.
My name is Matthew Walsh, and the classes and experiences I've had has allowed me to sharpen my writing and public speaking skills as well as quick problem solving and the ability to work in groups effectively. My aspirations include graduating with a business degree at UF while having gained enough skills to excel in the field of work that I decide to pursue after my college education. One of my goals would be to start up a successful business and should I choose to continue working on my business idea, I would put all my time and energy into it to either ensure its success or know that I gave all my effort into trying to make it work. If I did decide to start my own business, I would be all hands in and make it my top priority.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
My product idea is a breathalyzer attachment that would be able to be installed into any vehicle and would require a successful use of it in order to actually start the vehicle. This would only be necessary at certain times of the night, possibly 10 PM to 4 AM, in order to make this seem less of a nuisance to safe drivers and to make it more practical to buy. Drunk driving deaths are a major problem all over, and a product like this has the potential to severely dwindle those annual drunk driving related deaths.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
I have two main target segments in mind when I think about marketing this product. The first one would be those who are actual threats to drink and drive, this may be those with an extensive nightlife or repeat offenders of driving while under the influence. These are the people that need a product like this most but I assume many of them would not buy this for themselves. If there were a way to implement a program where someone charged with a DUI can have the option to purchase this product so as to minimize the charges against them would seem like the optimal way to reach this market.
My other target segment, the one that seems more likely to purchase and most of the feedback I've received have supported this segment, are concerned parents of high school and college aged kids that have a car. Parents want to make sure their kids are safe and make the right decisions, and this is a solution for parents of young drivers and teens that go out a lot. What these customers all have in common is their desire to not have themselves or someone they care about ever involved in a drunk driving incident or in a situation where they are vulnerable to making a poor decision. This product eliminates the option of driving while under the influence for you.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
There are many reasons why a product like this is valuable to a purchaser. For those that have been charged with a DUI, preventing a second DUI could save themselves the trouble of losing their license or their car, but most importantly, this product can prevent people from injuring or killing themselves or other innocent people. Most parents believe that above everything else, the safety of their kids, their family members well-being, is the most important thing, and if this product can lesson the chance of something bad happening and prevent poor choices being made that can endanger their children, parents will buy it.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
When I thought of this product, I looked it up to see if anyone was selling it already and it turned out there were a few things similar to this available. But I had never heard of a company that sells these, and everyone I talked to had not seen this in stores or even known about the existence of a product like this that was readily available to buy. What I can do differently is market this product a different way. I would appeal to the right market segments, get this product in retail stores available to everyone, and I would ensure that my product was the best, making it easy to use and attach, and compatible with any type of vehicle. If I were able to accomplish these goals, people would be aware of this product, understand its benefits, and be compelled to buy it.
In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
What fits together of these business elements for me is who I am offering it too, and why they should care. Whether you are a risk of drunk driving and want to avoid legal trouble and protect yourself or others, or whether you are a parent looking to make sure your kids are safe behind the wheel, this product has value to both these market segments. Both of these market segments have problems that can be solved with this product which makes it valuable to them. What does not fit in my business plan is that these two market segments are vastly different groups of people for the most part. It would be difficult to display two different messages to two different demographics, I would need to find a way to have one consistent message that appeals to both parties and maybe people that fall outside these two defined groups of people in order to maximize sales.
Feedback Memo
The feedback I received included points made about including government support for this product and the price and making sure it is affordable. I thought it would be an excellent idea to try and incorporate government support into the product so I decided to add a proposed system into my idea napkin that included a way to have those charged with a DUI given a minimized sentence or fine for getting this attachment installed into their vehicles. This way, those who have driven under the influence are heavily encouraged to buy this product, and it can dwindle the number of drunk driving occurrences.
Being able to work an affordable price while making this product higher quality than other products like this is trickier to answer. I cannot say for sure right now how I would be able to build this and ensure it is a price low enough so that people will buy it, but what I can offer is high amounts of advertisement and marketing to the right segments so there is increased awareness of this product, and if people knew this existed, they would buy it anyway, because the safety of their children has no price.
Friday, March 16, 2018
Assignment 17A: Elevator Pitch #2
The feedback I received was all supportive but there were a few changes I made to my pitch in order to make it more concise and closer to the 90 second time limit given. I cut out some of the unnecessary details that made the pitch longer and I also tried to make more eye contact.
In my last video I spoke in a more monotone voice than I intended to so I also tried to add more enthusiasm and facial expressions in this video than in my last.
Assignment 18A: Creating a Customer Avatar
This product can be sold in many markets to a wide variety of people, but I believe the majority of purchasers would be concerned parents, more likely concerned mothers, of high school age or college age kids that drive frequently.
Susan is a devoted mother of two in between accounting jobs at the moment, struggling to keep busy at home while the kids are in school and the husband is putting in long hours at the factory. She lives in a middle class suburban neighborhood in Morristown, New Jersey, driving the same 2005 Chevy SUV she's had since the days of picking up the kids from soccer practice. Sue fancies cooking and scrap booking, enjoys bonding time at Tuesday nights family game night, and the occasional glass of Chardonnay before a home cooked meal. The enduring difficulties of coping with her children's increasing desire to break away from the tight family knit shes woven as they continue to grow up and spend more time with their friends independent from the family, have dominated her thoughts recently. She tries to talk to Bill at night, but he just brushes her off and turns the other way in bed. Having dismissed all of Elisa's pleas for a car to drive to her high school for senior year has really put a strain on their mother-daughter relationship, and so fearing a falling out, Susan finally compromised and granted her daughters wish by buying an old 2007 grey Honda Civic on clearance at the lot. With a son about to take his permit test for the 3rd time and a daughter now driving and going off to college in the near future, Susan realizes that she is losing control, and is determined to keep her kids safe when they are on the road, and out of her grasp. But how? she wonders, pondering while seated on a bench outside Payless Shoes, when a newspaper flutters by with an advertisement that sticks out, a breathalyzer attachment that can work with any vehicle and requires a successful use to start the vehicle at certain times of the day. To Susan, this was a gift granted from the heavens.
What do I have in common with her?
We would be willing to do anything to ensure the safety of our loved ones, and that includes buying a product like this. We both are caring and devoted strongly to our families. Overthinking and obsessing on things we care about are a commonality we share as well, especially in situations in which we feel we are losing control and things are starting to not go our way. But a strong desire to feel like our loved ones are safe, and maybe coupled with a tendency to be impulsive with our purchasing decisions, is something that we not only share, but is important that my target market also shares because people who also have those traits will buy this product. I do not think it is a coincidence, my desire for the safety of myself, those I care about and others is what inspired me to try and work on this idea as a product.
Susan is a devoted mother of two in between accounting jobs at the moment, struggling to keep busy at home while the kids are in school and the husband is putting in long hours at the factory. She lives in a middle class suburban neighborhood in Morristown, New Jersey, driving the same 2005 Chevy SUV she's had since the days of picking up the kids from soccer practice. Sue fancies cooking and scrap booking, enjoys bonding time at Tuesday nights family game night, and the occasional glass of Chardonnay before a home cooked meal. The enduring difficulties of coping with her children's increasing desire to break away from the tight family knit shes woven as they continue to grow up and spend more time with their friends independent from the family, have dominated her thoughts recently. She tries to talk to Bill at night, but he just brushes her off and turns the other way in bed. Having dismissed all of Elisa's pleas for a car to drive to her high school for senior year has really put a strain on their mother-daughter relationship, and so fearing a falling out, Susan finally compromised and granted her daughters wish by buying an old 2007 grey Honda Civic on clearance at the lot. With a son about to take his permit test for the 3rd time and a daughter now driving and going off to college in the near future, Susan realizes that she is losing control, and is determined to keep her kids safe when they are on the road, and out of her grasp. But how? she wonders, pondering while seated on a bench outside Payless Shoes, when a newspaper flutters by with an advertisement that sticks out, a breathalyzer attachment that can work with any vehicle and requires a successful use to start the vehicle at certain times of the day. To Susan, this was a gift granted from the heavens.
What do I have in common with her?
We would be willing to do anything to ensure the safety of our loved ones, and that includes buying a product like this. We both are caring and devoted strongly to our families. Overthinking and obsessing on things we care about are a commonality we share as well, especially in situations in which we feel we are losing control and things are starting to not go our way. But a strong desire to feel like our loved ones are safe, and maybe coupled with a tendency to be impulsive with our purchasing decisions, is something that we not only share, but is important that my target market also shares because people who also have those traits will buy this product. I do not think it is a coincidence, my desire for the safety of myself, those I care about and others is what inspired me to try and work on this idea as a product.
Friday, March 2, 2018
Assignment 15A: Figuring Out Buyer Behavior No. 2
In my first interview, I presented my idea to a middle aged male parent. After explaining the concept, I received feedback in what I should fix, or be sure to implement, if I launch a product like this. He said that the size would be important to many potential customers. A breathalyzer that was too big and took up to much room would not look very appealing to buyers that care about the look of their car. Being able to attach a small breathalyzer in a color that would not stick out like black or grey would greatly enhance the appeal of purchasing one and would not deter as many people caught up in trying to look stylish or cool he felt.
My second interview was with a female parent of young children who had an idea in making the product less susceptible to being bypassed by a flaw in the system that I had thought of previously. She informed me that if the breathalyzer test detected a blood alcohol level above the legal driving limit when tested, there should be either a type of facial recognition scan in order to make sure that the ones that test the breathalyzer are the ones that are driving the vehicle, or another suggestion was that an Uber or some other transportation service is immediately called once detecting a failing test. It would be difficult to implement these ideas but I can see how this can further solve problems and close loopholes in the product function.
My last Interviewee did not suggest any innovative ideas to add to the product to make it better, but was adamant in believing that the best way to sell a product like this would be through online sales and that the quality was the single most important aspect. He stressed that when it comes to human lives at stake, the product must be as accurate as possible to prevent people who are intoxicated from being on the roads. Not only that, but to wrongly fail a test and keep a sober person from driving their vehicle home could scare a huge percentage of people from purchasing a faulty product. Also, he mentioned that people may be embarrassed or feel self conscious when buying this in a store, not wanting to feel judged by others, so online would be the best medium to buy this product in his opinion.
Reflection: I was encouraged by the amount of helpful feedback and suggestions I received for my potential business product and based off these interviews, I can start to shape the best way to market a product like this. Purchasers will feel they made a good decision buying this product if it serves its function and if they feel was bought at an affordable price, and would feel its a bad idea of the product was faulty or became a nuisance to someone that would never drink and drive. Other important elements to the product to some people would be how it looks and how difficult it would be to "get around" its designed function by exploiting a loophole of some sort. Retail could be an option in large generic stores like Walmart or Target, but could work in other locations such as auto parts stores. Yet, I think that online would be the most successful medium of purchase due to its size and possible negative connotation associated with buying a breathalyzer for your car.
My second interview was with a female parent of young children who had an idea in making the product less susceptible to being bypassed by a flaw in the system that I had thought of previously. She informed me that if the breathalyzer test detected a blood alcohol level above the legal driving limit when tested, there should be either a type of facial recognition scan in order to make sure that the ones that test the breathalyzer are the ones that are driving the vehicle, or another suggestion was that an Uber or some other transportation service is immediately called once detecting a failing test. It would be difficult to implement these ideas but I can see how this can further solve problems and close loopholes in the product function.
My last Interviewee did not suggest any innovative ideas to add to the product to make it better, but was adamant in believing that the best way to sell a product like this would be through online sales and that the quality was the single most important aspect. He stressed that when it comes to human lives at stake, the product must be as accurate as possible to prevent people who are intoxicated from being on the roads. Not only that, but to wrongly fail a test and keep a sober person from driving their vehicle home could scare a huge percentage of people from purchasing a faulty product. Also, he mentioned that people may be embarrassed or feel self conscious when buying this in a store, not wanting to feel judged by others, so online would be the best medium to buy this product in his opinion.
Reflection: I was encouraged by the amount of helpful feedback and suggestions I received for my potential business product and based off these interviews, I can start to shape the best way to market a product like this. Purchasers will feel they made a good decision buying this product if it serves its function and if they feel was bought at an affordable price, and would feel its a bad idea of the product was faulty or became a nuisance to someone that would never drink and drive. Other important elements to the product to some people would be how it looks and how difficult it would be to "get around" its designed function by exploiting a loophole of some sort. Retail could be an option in large generic stores like Walmart or Target, but could work in other locations such as auto parts stores. Yet, I think that online would be the most successful medium of purchase due to its size and possible negative connotation associated with buying a breathalyzer for your car.
Assignment 14A - Halfway Reflection
1) Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?
This course has required me to think and expand on ideas like I never have before in any other class. For most classes I have taken, you complete the assignment and move on to the next thing, leaving what you did already in the past, but this class is different. The assignments build on each other and what you wrote about and conducted interviews for in the past are relevant in each forthcoming assignment. This forces me to put all my effort into each assignment and to look back and learn from past blog entries.
2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
I felt like giving up when I had procrastinated on my assignments and had to complete two ENT blog entries after a 9-5 shift at work. Other obligations can make it difficult to complete my assignments early and specifically on this occasion when I came home from a long day at work, I was not motivated to complete two assignments, believing that skipping one or two entries would not hurt my grade too much. But I knew that if I gave in now, it could possibly result in bad habits developing and so I forced myself to sit down and get everything I needed to done and on time. I do believe I have developed a tenacious attitude over the past two months, no matter how busy i get, I always make sure to leave time to watch every single lecture, complete all of my assignments to the best of my ability, and provide helpful feedback on every assignment thus far. Having friends and other peers I know in the class help me complete my tasks because we motivate each other to get our work done and keep up with the lectures.
3) Three tips. What are three tips you would offer next semester's students about (1) fostering the skills that support tenacity and (2) developing the "tenacious mindset"?
To be successful in this class, you have to be determined and motivated to get work done that is accurate and done with effort. It can be easy to cut corners, publish the bare minimum, or not conduct proper interviews, but you are only doing a disservice to yourself. Do all the required work if you want to get the most out of the class.
Your mindset should be focused on the big picture more so than just the individual assignment. Each assignment is meant to develop research and entrepreneurial skills and once you have done a certain amount of assignments, including the ones that require you to expand upon an entrepreneurial idea, you will begin to see the skills you have learned overtime, that you don't notice when just typing up your individual entries.
Don't let the lack of exams fool you into thinking this is just a course you can blow off and not focus on. Take advantage of the skills being taught to you and try to study them, not for some exam, but because they are useful in your everyday life.
This course has required me to think and expand on ideas like I never have before in any other class. For most classes I have taken, you complete the assignment and move on to the next thing, leaving what you did already in the past, but this class is different. The assignments build on each other and what you wrote about and conducted interviews for in the past are relevant in each forthcoming assignment. This forces me to put all my effort into each assignment and to look back and learn from past blog entries.
2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
I felt like giving up when I had procrastinated on my assignments and had to complete two ENT blog entries after a 9-5 shift at work. Other obligations can make it difficult to complete my assignments early and specifically on this occasion when I came home from a long day at work, I was not motivated to complete two assignments, believing that skipping one or two entries would not hurt my grade too much. But I knew that if I gave in now, it could possibly result in bad habits developing and so I forced myself to sit down and get everything I needed to done and on time. I do believe I have developed a tenacious attitude over the past two months, no matter how busy i get, I always make sure to leave time to watch every single lecture, complete all of my assignments to the best of my ability, and provide helpful feedback on every assignment thus far. Having friends and other peers I know in the class help me complete my tasks because we motivate each other to get our work done and keep up with the lectures.
3) Three tips. What are three tips you would offer next semester's students about (1) fostering the skills that support tenacity and (2) developing the "tenacious mindset"?
To be successful in this class, you have to be determined and motivated to get work done that is accurate and done with effort. It can be easy to cut corners, publish the bare minimum, or not conduct proper interviews, but you are only doing a disservice to yourself. Do all the required work if you want to get the most out of the class.
Your mindset should be focused on the big picture more so than just the individual assignment. Each assignment is meant to develop research and entrepreneurial skills and once you have done a certain amount of assignments, including the ones that require you to expand upon an entrepreneurial idea, you will begin to see the skills you have learned overtime, that you don't notice when just typing up your individual entries.
Don't let the lack of exams fool you into thinking this is just a course you can blow off and not focus on. Take advantage of the skills being taught to you and try to study them, not for some exam, but because they are useful in your everyday life.
Friday, February 23, 2018
Assignment 13A: Reading Reflection No.1
I read the Steve Jobs biography by Walter Isaacson.
1. There were countless stories and experiences as well as personal traits and career decisions in Steve Job's life that surprised me and I had no idea about. But what surprised me the most was how he was able to transform his life from the very rough beginning he had, including being given up for adoption, dropping out of college, being very poor and struggling to get by in his 20's, and eventually even getting kicked out of his own company in 1985, to becoming CEO of one of the richest and most profitable companies ever. It is a testament to just how brilliant he was and how hard he worked to overcome the adversity in his life. I strongly admired his work ethic and confidence. Even though he had a small beginning, he never doubted his worth, and throughout his poor college experience, always knew he was smart and would be successful. He was smart enough to understand that computer technology was the business of the future and enrolled himself in technology classes in high school and partnered himself with the right people, like Steve Wozniak, to achieve his goals. What I least admired about Jobs was his treatment of others, specifically ones he managed and felt were below him. He acted as a very authoritarian leader and would often yell and scream at employees. Early on in his partnership with Steve Wozniak, they struck a deal with Atari for $5,000 and were supposed to split the money 50/50, yet Jobs told Wozniak that they made far less than that and so Jobs ended up taking home over $4600. Jobs was also non charitable and offered very little to philanthropic efforts. He was someone that was completely focused on himself and his goals.
2. Above everything else, Steve Jobs was most competent, and often brilliant in his innovative designs and decision making. The Ipod's signature design along with its innovative scroll wheel were created by Jobs, he knew what would work and what would sell. Jobs used his experiences in his life to help him design and craft these products too, including taking inspiration from a calligraphy class he audited in college to shape the design of the Ipod. Jobs also knew that computer technology and software was the business to get into and he ended up revolutionizing the industry as we know it. Finally, partnering with Wozniak was a genius move because he was everything Jobs was not, a genius in the building and crafting of the product. Together with Jobs's innovative ideas and Wozniak's technological skill, they were able to co found one of the most successful businesses ever together.
3. What confused me most in the reading was why Jobs elected to neglect his doctor's ruling to take immediate action and have surgery once he was diagnosed with Pancreatic cancer and instead try his own treatment of a change of diet and psychic evaluation. This decision could partly be attributed to the 7 months he spent in India studying Zen Buddhism and maybe this was a factor in his decision. But I would think that a man as brilliant as Jobs would understand to trust a doctor over his own non proven ways of treating cancer. This decision to wait until months later to have surgery is one of the reasons why Jobs died at the age he did.
4. My first question would be: Did you always know that you were going to be successful? I am curious because as a college dropout that struggled to get by, I can imagine it is discouraging and hard to see a path to success, especially early on in his business where they were not making much money.
My second question would be: What gave you the idea for the designs and innovation you put into Apple's products? It is truly remarkable how Jobs was able to have these visions of attributes to his product designs that would not only work and be practical, but be something that others had never thought of before.
5. Yes I share Jobs's opinion of hard work. Being brilliant and innovative is nothing without working hard to achieve your goals. Jobs was also adamant about doing work that you loved, and that you would work harder if you were working on something that you were passionate about. I also share that belief and hope to find an area of specialization in the business field that I am passionate about and pursue my goals.
1. There were countless stories and experiences as well as personal traits and career decisions in Steve Job's life that surprised me and I had no idea about. But what surprised me the most was how he was able to transform his life from the very rough beginning he had, including being given up for adoption, dropping out of college, being very poor and struggling to get by in his 20's, and eventually even getting kicked out of his own company in 1985, to becoming CEO of one of the richest and most profitable companies ever. It is a testament to just how brilliant he was and how hard he worked to overcome the adversity in his life. I strongly admired his work ethic and confidence. Even though he had a small beginning, he never doubted his worth, and throughout his poor college experience, always knew he was smart and would be successful. He was smart enough to understand that computer technology was the business of the future and enrolled himself in technology classes in high school and partnered himself with the right people, like Steve Wozniak, to achieve his goals. What I least admired about Jobs was his treatment of others, specifically ones he managed and felt were below him. He acted as a very authoritarian leader and would often yell and scream at employees. Early on in his partnership with Steve Wozniak, they struck a deal with Atari for $5,000 and were supposed to split the money 50/50, yet Jobs told Wozniak that they made far less than that and so Jobs ended up taking home over $4600. Jobs was also non charitable and offered very little to philanthropic efforts. He was someone that was completely focused on himself and his goals.
2. Above everything else, Steve Jobs was most competent, and often brilliant in his innovative designs and decision making. The Ipod's signature design along with its innovative scroll wheel were created by Jobs, he knew what would work and what would sell. Jobs used his experiences in his life to help him design and craft these products too, including taking inspiration from a calligraphy class he audited in college to shape the design of the Ipod. Jobs also knew that computer technology and software was the business to get into and he ended up revolutionizing the industry as we know it. Finally, partnering with Wozniak was a genius move because he was everything Jobs was not, a genius in the building and crafting of the product. Together with Jobs's innovative ideas and Wozniak's technological skill, they were able to co found one of the most successful businesses ever together.
3. What confused me most in the reading was why Jobs elected to neglect his doctor's ruling to take immediate action and have surgery once he was diagnosed with Pancreatic cancer and instead try his own treatment of a change of diet and psychic evaluation. This decision could partly be attributed to the 7 months he spent in India studying Zen Buddhism and maybe this was a factor in his decision. But I would think that a man as brilliant as Jobs would understand to trust a doctor over his own non proven ways of treating cancer. This decision to wait until months later to have surgery is one of the reasons why Jobs died at the age he did.
4. My first question would be: Did you always know that you were going to be successful? I am curious because as a college dropout that struggled to get by, I can imagine it is discouraging and hard to see a path to success, especially early on in his business where they were not making much money.
My second question would be: What gave you the idea for the designs and innovation you put into Apple's products? It is truly remarkable how Jobs was able to have these visions of attributes to his product designs that would not only work and be practical, but be something that others had never thought of before.
5. Yes I share Jobs's opinion of hard work. Being brilliant and innovative is nothing without working hard to achieve your goals. Jobs was also adamant about doing work that you loved, and that you would work harder if you were working on something that you were passionate about. I also share that belief and hope to find an area of specialization in the business field that I am passionate about and pursue my goals.
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