Week 8 Reading Reflection

1.) What I found in the reading that stood out to me the most was the financial aspect of starting a business. I am aware of the difficulties, but in the reading I discovered that it's a lot more complex to receive a loan or even small financing. This is helpful to me due to my wanting to eventually venture out on my own personal ideas and build a scalable business.

2.) I found the part about private placements to be somewhat confusing. Being relatively new to the ideas/ concepts centered around the idea of entrepreneurship I didn't see this concept coming into play, but this article mentioned it.

3.) If I could ask the author two questions I would ask are Angel investors worth it and if so could you go into depth on how to properly go in this route. My second question is in order to gain financial backing I would have give a percentage of my company how would you recommend going this route.

4.) I would say the author was pretty on point in the reading and didn't contain anything that I would disagree with. I found this reading to be exceptionally helpful for young entrepreneurs like myself who don't fully understand the big picture of gaining financial backing to create our own ideas.

Half-way Reflection Week 8

1.) I have developed better time management that is essential to success in this course. I have also found that you need to think out of the box in this course. Thinking out of the box is crucial in the assignments due, which consist of our own business concepts.
2.) A time during this course that I thought about giving up was probably a couple weeks ago. Being a full time student it's hard to remember to take the time to go out and fulfill the requirements in order to receive points for assignments. But what you have to remember is you signed up for this course and no matter what assignments need to get done or else you are just essentially failing yourself. I have learned that giving up is simply not an option and you will prosper with the knowledge gained in this course as long as you continue to work hard.
3.) For a student taking this course next semester I have three tips to being successful. First don't think you can just get by easily in this course since it is online you need to time manage. Second, Look through syllabus and make sure you can gain the resources to complete assignments on time. Third, develop what it is that you want to achieve as an entrepreneur. This course is centered around all our own unique ideas, so why not work on something you will enjoy or else you won't have the urge to continue in the course.

Week 7 Reading Reflection

1.) My biggest surprise in the reading was the incorporation of a certain individual to get the consumer to garner an image of something they need, which in turn is not necessarily accurate. The author also mentions the importance of timing and how impacts the market.

2.) I wouldn't say I was entirely confused, but there were parts in the reading that I wish the author would go further into detail for example, the attitudes toward buying decisions.

3.) My questions I would ask the author would be centered around what if the customer does fully meet his or her needs and how he would properly go about changing that. Next I would ask for the author to explain the shallow end/ decisions for a business.

4.) I found myself mostly agreeing with everything the author mention in this reading. I would like to say that I agree with what the author had to say about uniqueness in the market. By having this trait it helps your company gain a somewhat edge with an idea that is not yet overly present in society.

Free Money Week 7

https://youtu.be/S2g6LGangJ4

https://youtu.be/neClG10JOwo


For my video I decided to walk around my apartment complex and ask residents if they would like a dollar. I decided to walk around my apartment complex because with constant inflow of people returning home and heading to library is great. My plan is just to simply offer a dollar and if asked why then I will simply note that my intentions are to help make someones day better by showing a sign of gratitude towards them. My belief that I would give away the money did not go as planned, where as I only got one person to accept the free money. I was somewhat surprised at first, but ultimately I realized that most people were confused by my random act of kindness and the basic instinct was to say thank you but no.

Elevator Pitch No. 2 Week 7

1.) https://youtu.be/3lEcXr-3MQ4
2.) I received a lot of positive feedback with my idea, the only things I found out that I need to work on is gaining the proper name of my app and a way to properly advertise this app.
3.) What I changed after the feedback was very minimal actually. I found that my app is on the right track just little things like advertising and marketing the app just need some minor adjustments to be on the right way to success.

Week 6 Reading Reflection Week 6

1.)  After reading the required week 6 reading I found some information that was very interesting to me. I had no idea of the average profitability in U.S. Industries. This information was staggering where as some industries had extremely low numbers i.e. airlines, which had a 5.9 percent profitability.

2.) I wouldn't necessarily say I was confused by this information, but it was something I had over looked. The text mentioned that fast growing industries do not need to be attractive. As I have been thinking about my business concept and the need to have a certain image I forgot that industry does not rely on certain attractiveness i.e. gas, oil

3.) Two questions I would ask the author are one how did you gain the financial information to report the numbers for U.S. Profitability for Industries and the second question I would ask would be I saw you mention overall profit gain How would someone in my shoes find a way to gain profit gain from an app that would essentially be starting off nothing( low budget).

4.) Looking at the information provided in the text I don't necessarily find any information that I would necessarily disagree with. I would say maybe the attractiveness of industry is rather important. If you look at the numbers provided in the text you see Cosmetics and retail being high up on the profitability chart.

Customer Interviews No. 3 Week 6

1.) The type of questions I'm going to ask in my interviews are where does my interviewee see my concept fitting into everyday society. Also I want to receive feedback regarding ideas to advance my app into the market immediately.

2.)
Interview 1: Individual being interviewed Chase
Reaction: What is your Opinion ?
Looking at your idea I definitely see something that can make it in the market. I have seen the rise in entrepreneurs trying to break into the app game, but your idea is original in the sense that it differs in comparison to other apps that lack the advancements in which you are trying to put forward.

Interview 2: Individual being interviewed Griffin
Reaction: What is your Opinion?
I like your business concept, but my main question is how will you properly gain this information it just seems like a lot of information to compile.

Interview 3: Individual being interviewed Bea
Reaction: What is your Opinion?
As a vegan I am extremely excited with that I just read. Your business idea is brilliant in the fact that it will majorly help those who are/ thinking of being vegan. I personally have struggled with figuring out which places offer vegan food because most of the apps of websites don't properly work or lack the data.
Interview 4: Individual being interviewed Oswaldo
Reaction: What is your Opinion?
Business idea is very well put together. I would make sure that the name you choose is something you think will properly stand out in the market. Your app has all the elements to be extremely successful, but make sure you properly market it with the name and right image you want to sell.
3.) What I learned from these interviews was that I need to make sure I have the proper name, which I have yet to decide on in order to either draw interest or not. I also need to find the right way to obtain all the data, which I'm doing as of means by looking at grocery websites that offer food nutritional information.

Idea Napkin No. 1 Week 6

1.) My talents/skills consist of exceptional public speaking, logical thinking and the ability to adapt in the market place. My aspirations are to be able to immediately provide my services/ product immediately in an area that could thrive. My concept is to create an app that helps the vegan community.

2.) The product I’m offering to the customer is an app that allows the customer to have access to whether or not a certain food item from various stores are vegan.  Along with the app comes the extra perk of the app locating the individual’s location and informing what places that are vegan friendly are around the area.

3.) What my customers have in common is the need to have access to whether or not a food product is suitable for vegans. The nutritional information will be provided and then a list of possible places to get the product’s are made available on the app.

4.) My idea at first is to generate interest in the app by starting off the app at 99 cents, but by advertising the available shops to bring in more revenue.

5.) What sets me apart is my app will actually work. There are a lot of apps out there for vegans, but don’t properly work or have restrictions on what food is on the app. I have found that when you go on these different apps the odds of not finding out what you want is great.

I find that my idea is original in the sense that I have not been able to locate an app that provides what my app is trying to do. My weakness is there is some difficulty trying to get a food app out in the market.

Week 5 Reading Reflection Week 5

1.) While reading this weeks chapter I found the reported new venture starts up to be higher than I expected. With more than 600,000 firms emerging I found it astonishing that the number is rapidly increasing with over 500,000 applications each year.
2.) I found lifestyle ventures to be a little confusing just based on the fact that it seems this type of route is something the entrepreneur would try to partially avoid. Yes believing in a product is important, but revenue is usually a large reason behind the idea.
3.)If I could talk to the author and ask a couple question I would then ask is How did you get the access to the high tech firms in order to gain your information regarding why new ventures fail. My Second question would be what do you recommend for first time entrepreneurs and when they should take the " leap of faith" into the venture world?
4.) I honestly found nothing I could disagree with. The information provided in this chapter was pretty spot on on what I thought numbers would be for failure and success rates.