While reading this week’s reading I came across nothing that
was confusing but I did find it surprising about all the myths about venture
capital. The majority of this chapter talked about all the different ways to
make sure that capital is raised and ways to ensure that they are no problems. If I were to ask the author questions, they
would be about the essential elements for a successful presentation. I think
that there should just be more details or examples. Throughout the chapter, I didn’t
find anything that I disagreed with. I agree with what the author says about
capital. Mostly because I am not sure of the different ways to raise capital.
Tuesday, February 23, 2016
Half-way Reflection
Half-way Reflection
1. Tenaciousness is a skill:
For this class, there are a lot of
assignments. To make sure no assignments are missed you have to set aside a
little bit of time everyday dedicating to completing at least one assignment.
2. Tenaciousness is also about attitude:
There have been a lot of times in
the past two months that I have felt like not doing an assignment because it
was uncomfortable to do. I pushed through by realizing that the task was not
that hard and that by doing it, I would be a better entrepreneur from it.
3. Three Tips:
·
Think of the assignments not as tedious but
rather as training you for the future.
·
Think of the overall goal of completing this
class as being a better entrepreneur.
·
Make sure you take every assignment seriously.
Sunday, February 21, 2016
Free Money
Free Money
For this assignment I
have decided to go to the library because I am guaranteed to find people who
are willing to take the money from me without hesitation. I plan on approaching
students who look like they are in a rush to get in the library. I will get the
conversation started by asking them how they are (small talk). I think out the five attempts only three people will take the money.
I was wrong. No one wanted to take the money.
They thought I was kidding and I couldn’t keep myself form laughing. I think
giving away the money was harder than I expected.
Wednesday, February 17, 2016
Elevator Pitch No. 2
Company Name:
Décor Swap
Opportunity:
College students moving from dorm to apartment to house.
Problem? Each space needs different accessories. The dorm needs twin size
bedding and everything mini. Apartment and house need furniture and more décor.
But what do you do with your old stuff? Throw it away? Sell it and pay
ridiculous shipping costs? How do you buy new stuff? How do you find new stuff
and transfers it hours away?
Reflection on Feedback:
All of my reflections were based on my actually product
rather than the pitch itself. So to improve, I need to make my pitch more
detailed. I need to explain my product more in depth.
Changes:
·
Describe my product more
·
Explain how it is different from other products
Pitch:
·
Hook: Do you want to have the most glamourous
dorm for half the cost and work?
·
Problem: Moving into a dorm or apartment can be
a struggle: i.e. Shipping, waiting, decorating with the right décor that’s fits
not only your personality but the size and style of your dorm or apartment?
·
Solution: Décor swap allows you to buy/rent/
sell room décor within the university.
Sunday, February 14, 2016
Interviewing customers No. 3
Interviewing Customers No. 3
The opportunity that I came up with is: an app that allows
people to sell or rent their home/apartment/dorm décor. Understand that there
are other websites and apps like this such as eBay and craigslist. However, to make me opportunity better, the
idea that I have is to make the app only work for current college students
living within a certain radius of the campus. BY doing this you can ensure that
you are getting stuff that is close to you and that works for the apartments or
dorms that you may live in.
I still believe that the people who should have this unmet
need are students that attend college that move from dorms to apartments or
vice versa. I believe I need to make a wider selection of people including boys
and girls living on and off campus. I think now I should ask questions about
how other services have caused problems.
Questions for “customers”:
1.
Have you ever used eBay or amazon?
2.
What problems did you have?
3.
What was the longest you waited to get your
package?
4.
How much do you normally pay for shipping?
Outcome:
Wednesday, February 10, 2016
Week 6 Reading Reflection
I think the biggest surprise of this article is that overall,
most businesses don’t understand that competition isn’t just between
competitors but rather a broader range of factors. In the article five broad
topics are listed but each one goes into greater detail. What I got confused
about was a few specific forces such as structure of the company versus how the
company is regulated. I am just confused because a lot if the stuff in the
article sounds the same; however, porter compares it to one another. If I were
to ask him a question it would be how he distinguishes between the different specific
factors such as the structure. The only thing I disagree with would be that rivalry
is destructive. I understand that too much can be damaging but I do believe
that a little bit of rivalry is healthy. It pushes the companies to do better.
Monday, February 8, 2016
Idea Napkin No. 1
Idea Napkin No. 1
1.
I am currently a college student pursuing a
degree in general business. My experiences in business including working in
merchandise at Walt Disney World and creating a nonprofit organization. If I
were to start this business, I believe that it would help me enhance my skills
for running a business that is not a non-profit.
2.
My product is an app that allows college
students sell, buy, or rent apartment/dorm décor from students who live within
a certain radius of the campus.
3.
I am offering this to any college student who is
not a commuter but rather lives either on or close to campus.
4.
This app cuts out the uncertainty if whether or
not the décor will work in your space, the difficulty of transporting large décor
from large distances and time that shipping takes.
5.
What sets this app apart from things such as eBay
or craigslist is that it only works for students attending the university.
I believe that all elements fit
together except for maybe the first. I am not sure that I am capable of
creating such a service or ensuring that the app becomes successful. I also am
not very good at describing or going in-depth of certain ideas. I am more of a
big picture person. This causing me to overlook small details that may affect
the success of the service.
Friday, February 5, 2016
Interviewing Customers No. 2
Interviewing Customers No. 2
The opportunity that I came up with is: an app that allows
people to sell or rent their home/apartment/dorm décor. Understand that there
are other websites and apps like this such as eBay and craigslist. However, to make me opportunity better, the
idea that I have is to make the app only work for current college students
living within a certain radius of the campus. BY doing this you can ensure that
you are getting stuff that is close to you and that works for the apartments or
dorms that you may live in.
The people who I believe will have this unmet need are
students that attend college that move from dorms to apartments or vice versa. I
believe I need to make a wider selection of people including boys and girls
living on and off campus.
Questions for “customers”:
1.
Do you live in a dorm or an apartment?
2.
Where do you plan to live next year?
3.
What problems did you have with selling or
buying room décor?
4.
How do you think you can fix it?
5.
What do you think about an app that lets you
rent, buy and sell décor within the University of Florida?
Tips:
1. Be prepared to feel awkward.
2. Have your questions ready.
3. Find people who look like they have time.
Tips:
1. Be prepared to feel awkward.
2. Have your questions ready.
3. Find people who look like they have time.
Outcome:
I ended up with the same outcome as before, no one really
wants to elaborate on their answers. I guess you have to find people who show
interest. Maybe interviewing people while they are moving would be the best
option.
Monday, February 1, 2016
Elevator Pitch No. 1
Elevator Pitch No. 1
Company Name:
Décor Swap
Opportunity:
College students moving from dorm to apartment to house.
Problem? Each space needs different accessories. The dorm needs twin size
bedding and everything mini. Apartment and house need furniture and more décor.
But what do you do with your old stuff? Throw it away? Sell it and pay
ridiculous shipping costs? How do you buy new stuff? How do you find new stuff
and transfers it hours away?
Solution:
My solution
to this is an app that allows you to post what you want to buy or sell or rent
within the college campus. This allows you to find things quickly in your
surrounding area. Also, by only having it work within the campus, you can be
sure that your décor and other accessories work for your dorm or apartment.
*Please ignore how awkward this video is.
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