Final reflection/Assignment 30A

1.  The most formative experience was definitely having to go out and talk to people in the community.  That's also the experience I'm most proud of accomplishing.  Most of the time I have an issue going and talking to people and it makes me incredibly uncomfortable.  So the fact that I did that and spoke to strangers is something I am very proud to have done.  As far as things that I will remember forever is all the elevator pitches.  We had to do three of them so I definitely don't think I will forget them anytime soon.  My most joyous experience honestly was all the peer reviews.  It was fun to read everyone's posts and see how everyone else interacted with the assignment.

2.  I do somewhat see myself as an entrepreneur but also I don't.  I do not really want to be an entrepreneur as a career so while this class changed my thinking it did not enough to make me want to be an entrepreneur.

3.  The best advice I can give to future class takers is to stay on top of the work.  Don't fall behind because if you do your grade will suffer for sure.  Also, do all of the assignments for sure.

Assignment 29A/ my venture concept 2.0!

Opportunity
What is/who has the need/nature of the need
My opportunity is a product that stops glasses from falling down the nose, even when it is hot and sweat is pouring down your face. My top potential customers are truly anyone that wears any sort of glasses.  This includes people who wear glasses permanently and also those who just wear sunglasses.  Specifically, though, I am aiming at soccer mom types running from pillar to post for all their children's needs.

Other Questions
The opportunity for this is huge as anyone who wears any type of glasses would need this, and the window for the opportunity I think will last forever.  Right now, customers aren't satisfying the need they are just living with the problems which should not have to be the case.  The market is for all ages, men, and women truly anyone who wears glasses.

Innovation
As far as innovation the product I am creating is a type of substance that comes in a tube much like that of liquid concealers with the same type of applicator wand.  But the consistency of eyeshadow primer.  It goes on the bridge of the nose where glasses land and it creates enough friction to stop glasses from slipping.  I will sell it at any drugstore or where makeup is sold and will sell a tube for 6 dollars.  It should last around 3 months.  Hopefully, could charge around 7 dollars for a tube which is fairly equivalent to how much drugstore concealer costs.

Venture concept
My product will solve their problems by it just being science.  When friction is added the glasses won't fall.  Simple as that.  Customers won't have to switch to the product because there is no product on the market so far that would be comparable to mine.  The packaging really does not come into play I'm just doing what I think would be best and what I would want to buy.  

Minor elements
Secret Sauce
My company's secret sauce is truly my passion for it.  I get so annoyed when my glasses fall so having something be created by me to stop that is what would be the best.  I also have experience.  I am a full-time glasses wearer who has to wear them.

Next Venture
My next venture I plan on creating a service that caters more toward a specific demographic of age.  I, as a college student, want to help other college students in life so that is what I am going to do next.  Not quite sure what it is yet but I'll think of something.  I have decided that I am going to make an app that creates schedules automatically for students.  We put in the times we want and the classes we need and boom it's done.

Next for me
As an entrepreneur in five years, I would truly like to be no longer an entrepreneur.  I want to be somewhere making money but I don't think entrepreneurship is the place for me.



FEEDBACK SUMMARY
A lot of my feedback was very positive.  My peers liked that I went through all the steps and that I did a good job describing everything.  The main critiques were for me to be more detailed throughout, and also someone wanted to know exactly what I wanted my next venture to be with the college students.

WHAT I CHANGED
I changed by being more descriptive.  I added more details to multiple of the sections and made it clearer what my venture with the college students would be.  

 

Assignment 28A/Exit strategy

As far as my Exit Strategy for this particular venture I want it to be an in-n-out experience.  I would like to sell my product and then potentially make a large profit from what is left.  I also don't think I want to continue with entrepreneurship in the future.  One business venture is enough for me.  I selected this because this isn't my passion.  I want to do something I love in life and this is not it, unfortunately.  But I have confidence that I can find something I am passionate about and potentially become an entrepreneur in that way.  My strategy has been the same from the beginning so yes I guess it has influenced my decisions along the way.  I chose a product that was individually based and not service based so I didn't have to hand it down to anyone. If I was a true business with employees then It could be problematic to leave so abruptly but that's not the case in my situation.

Reading reflection 3/ Assignment 27a

For this last reflection, I chose to read the book Miracles Happen, by Mary Kay Ash.

1.

• What surprised you the most?
• The thing that surprised me the most about the book was how Mary Kay wasn't a specialist with makeup.  She was a marketer and a salesperson but had a passion for beauty and for women to have a career.  So she took her skills and her passion and combined it into one.
• What about the entrepreneur did you most admire?
• The most admirable thing about Mary Kay Ash is her persistence and courage.  She was a trailblazer for women in business and she created a path for women everywhere to follow in her footsteps.
• What about the entrepreneur did you least admire?
• I didn't particularly like how she acted as if her brand and the makeup and products would change families.  I think everyone should feel comfortable in their own skin, but I do agree makeup is a self-confidence boost if women choose for it to be.
• Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
• Mary Kay did encounter adversity.  In the beginning, she only had 5000 dollars in savings which is not nearly enough to start a brand new business and live off of it.  But nonetheless, she went for it and made a hugely successful brand.

2.  What competencies did you notice that the entrepreneur exhibited?

• The main competency I noticed from Mary Kay was that she is a massive massive businesswoman.  She created a brand from quite literally nothing.  And she did it all without selling her soul or losing her dignity in the process.  She also wanted women to feel good about themselves which makes her a great woman as well.

3.  Identify at least one part of the reading that was confusing to you.

• There wasn't anything too confusing for me.  I understand the brand as I actually use Mary Kay products today, and I get how makeup can change a person's view of themselves.  So nothing was particularly confusing.

4.  If you were able to ask two questions to the entrepreneur, what would you ask? Why?

• I would ask what her family thought of the business, and if they thought it was a good idea to put her savings on the line for a risky prospect.
• I would ask this because it is nice to have a women's perspective and see if she felt judged or anything from her closest supporters.

5.  For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

• Mary Kay's opinion of hard work is wild.  She clearly knows what needs to be done and is willing to do it.  And I do share that opinion to some extent.

Assignment 26A/ Celebrating Failure

A time I definitely failed was when I was taking my critical-tracking courses.  I had FOMO all Spring semester and chose to go to McDonald's with my friends at 2AM instead of studying and it bit me in the butt when my grades came out.  It was one hit after another of detrimental grades and by the time I buckled down, it was too late for the semester.  This killed me because I am a good student and I want good grades but I just had a lack of good judgment and failed at what I wanted, which was to do well. 
I most definitely learned not to get behind in school and ALWAYS always go to class.  If you think the material is easy still go to class because one day it won't be and then you'll be out of luck.  I also learned to prioritize and time manage better.  It also taught me a lot about myself and my study habits and was a wake-up call to essentially get my act together.
As far as actually failing it is embarrassing and sometimes has real long-term consequences.  But I'm more willing to take a risk in life and reach for the moon because if I fall I'll land among the stars.  That was taken from someone famous but I'm not sure who. 

assignment 25A/What's next

Existing Market
Whats Next?
I'm not entirely sure what is next with this specific venture.  I can't think of much more to do to help solve this problem so I guess it would be working with the actual glasses makers to not even need my product at all.  Or for somehow the product to come already on the glasses.

Interviews
I interviewed three people all of which wear glasses 24/7.  They said the only thing they thought I needed to do was make sure that everyone in the market will buy it.  They are concerned it's marketed more for women which I do believe so I need to work on that aspect.  As far as what's next they thought it was good for the product to somehow already come on the glasses.

Future
After all the interviews I found myself rethinking the continuation of my product.  I don't feel it can go many places after the initial concept which is slightly concerning.  So that is something for me to think about as I continue in this class.

New Market
A new market I could go to is one dealing solely with kids in poor neighborhoods.  I would love for it to be more service oriented like a special workout program or afterschool activity as opposed to a merchandising work which is what I'm doing now.

Value
The value my service could add is tremendous.  A lot of times poorer neighborhoods really struggle because their parents have to work and when they get out of school no one can pick them up.  This leads to continuous struggles for afterschool care.  I am wanting a service that is essentially a daycare at school but led by people other than teachers.  It is specifically afterschool workers and it is an all-encompassing program, of athletics, homework, and teambuilding to better behavior.

Interviews
I interviewed 2 people at westside park and they thought this service would be great.  It helps them with their kids and they said they would love it if they didn't have to feel the pressure running from pillar to post while also trying to make money.

Reflect
I don't have much that is spicy to say about this new concept.  The interviewees seemed to like it and didn't have anything negative to say.  I'm hoping this could be a more lucrative and expandable product than my current idea.

Talking to them really opened my eyes to how privileged I am and how I grew up so I would like to partner with someone who comes from a different background than me.  I think that would help the business be the best it can be.

Assignment 24A/Rebeca's glasses surprise

Opportunity
What is/who has the need/nature of the need
My opportunity is a product that stops glasses from falling down the nose, even when it is hot and sweat is pouring down your face. My top potential customers are truly anyone that wears any sort of glasses.  This includes people who wear glasses permanently and also those who just wear sunglasses.

Other Questions
The opportunity for this is huge as anyone who wears any type of glasses would need this, and the window for the opportunity I think will last forever.  Right now, customers aren't satisfying the need they are just living with the problems which should not have to be the case.  The market is for all ages, men, and women truly anyone who wears glasses.

Innovation
As far as innovation the product I am creating is a type of substance that comes in a tube much like that of liquid concealers with the same type of applicator wand.  But the consistency of eyeshadow primer.  It goes on the bridge of the nose where glasses land and it creates enough friction to stop glasses from slipping.  I will sell it at any drugstore or where makeup is sold and will sell a tube for 6 dollars.  It should last around 3 months.

Venture concept
My product will solve their problems by it just being science.  When friction is added the glasses won't fall.  Simple as that.  Customers won't have to switch to the product because there is no product on the market so far that would be comparable to mine.  The packaging really does not come into play I'm just doing what I think would be best and what I would want to buy. 

Minor elements
Secret Sauce
My company's secret sauce is truly my passion for it.  I get so annoyed when my glasses fall so having something be created by me to stop that is what would be the best.

Next Venture
My next venture I plan on creating a service that caters more toward a specific demographic of age.  I, as a college student, want to help other college students in life so that is what I am going to do next.  Not quite sure what it is yet but I'll think of something.

Next for me
As an entrepreneur in five years, I would truly like to be no longer an entrepreneur.  I want to be somewhere making money but I don't think entrepreneurship is the place for me.