1) The thing that surprised me the most about this reading was that the company had to forfeit $285,000 to thugs in Nizamaba. It was also really surprising the amount of money that they could make in microfinance.
2) I didn't totally understand how they could be making that much money in microfinance, but as I continued to read on I learned about the difficulty to create scale able operating systems.
3) I would ask him - What opportunities do you think are available to increase the growth rate of your company? How long have you been running your company?
4) To be honest I don't know enough about the industry to determine if the author was wrong about anything. He seems to be very intelligent and knowledgeable about his particular field.
Sunday, April 24, 2016
Final Reflection
1) I honestly really enjoyed reading over my blog and seeing all the work that I have accomplished this semester. A lot of the assignments I forgot about, and was pleasantly surprised to see how well I did on them. However, I do remember being frustrated while completely some of the assignments and it definitely shows in the quality of the work. Also the video recording was somewhat of a pain in the ass I thought because not many people really wanted to be video recorded and you can get the same information from just having a conversation with someone because they will feel much more comfortable.
2) I would say the most formative experience experience from this class was all the interviews we had to conduct - they provided a lot of insight and knowledge. The most memorable was the process of creating a venture concept. My most joyous experience will be completing the last assignment. I am most proud of myself for the business plan that I created and very positive responses that I received.
3) Yes, I definitely do see myself as an entrepreneur. I think with a different mindset now that is more opportunity focused.
4) I would recommend student who are going to take this class to stay on top of the assignments and work ahead. If you leave things to the last minute you get lazy and just don't do it, or don't complete it fully. Also have an open mind going into the course and get ready to be creative.
2) I would say the most formative experience experience from this class was all the interviews we had to conduct - they provided a lot of insight and knowledge. The most memorable was the process of creating a venture concept. My most joyous experience will be completing the last assignment. I am most proud of myself for the business plan that I created and very positive responses that I received.
3) Yes, I definitely do see myself as an entrepreneur. I think with a different mindset now that is more opportunity focused.
4) I would recommend student who are going to take this class to stay on top of the assignments and work ahead. If you leave things to the last minute you get lazy and just don't do it, or don't complete it fully. Also have an open mind going into the course and get ready to be creative.
Wednesday, April 20, 2016
Venture Concept No.2
1) The opportunity that I am trying to capitalize on is the
need to stay healthy and happy in a time where there are ample amount of
unhealthy distractions in today’s society. One of the main components of
staying healthy overall is fitness. The current fitness industry lacks
diversity and exhibits large amounts of mundaneness. The opportunity lies in
those unhappy customers who are participating in workout class, paying gym
membership fees, joining yoga clubs, etc. and are making slim to none progress
on their goals and overall intent to workout in the first place. These people
are yearning for something more exciting, more productive, and more efficient
that allows them to accomplish the goals they intended to in the first place.
The opportunity lies in people who are looking to better themselves through
fitness in a healthy and enjoyable manner. These people want to have fun and
enjoy life, while staying in shape in order to sustain their lifestyles. I
think technology is exposing people to more things than what is just in their
immediate environment, and this is resulting in people getting curious about
things and having new interests. In order to fulfill your goals, and
incorporate these new interests, new venues of fitness need to be introduced
into the marketplace. This opportunity is huge. The fitness industry is a
billion dollar industry and I honestly feel that it id nowhere near its full
potential. Fitness will always be a part of society, as humans need to be
healthy to survive and be happy.
2) To be honest I didn't receive much negative feedback about this idea. The only main thing was people wanted more information on exactly how the balance device works, and which muscles it trains the most efficiently (which I included in my updated venture concept). I also liked someones idea of have a 12 week workout program that accompanies some on the water training with the in class balance training.
3) I didn't really change anything about my core idea, just added some additions elements to it and went into more depth about the product itself.
The product
and service that I am trying to introduce into the market will satisfy these
unmet needs and diversify the industry in such a way that people will be drawn
to it over everything else available. I will provide a fun, productive, safe,
and effective exercise class involving a patented balance training device that
will be implemented along will aerobic, exercise, stretching, weight lifting,
and yoga to create and all encompassing, exercise class. This balance training device will essentially be a scaled down surfboard on a roller that will allow the athlete to train leg muscles and core highly efficiently as well as other small muscles needed for balance.
My
customers will be extremely happy and grateful this product and service is on
the market one it is. It will open their eyes up to a whole new way of
exercising that will actually be enjoying, while also reaping great results.
Everyone will love this new class once they hear about it. The implementation
of exciting tools such as projections of waves, sand on the workout floor, and beach vibes music will
give this company the competitive advantage that it deserves. I will implement 1 week classes, or longer 12 week programs that will include on water training as well. This is the new
wave of fitness and if you want to stay healthy, you better learn how to surf
it. I would say the main possible weakness or vulnerabilities would be a
potential competitor trying to replicate my product/service. However, this
would also drive more traffic towards my company, which will result in higher
revenue generation. It’s a win win I suppose. I think business location,
customer experience, and marketing are the most fundamental parts that will
lead to the success of this venture. I need to start my company in a hotbed of
surfing, provide exception customer experience and relations, and connect with
the top names in surfing to get the name out there and get the right facing
using my product. In order to support an ongoing production of this venture I
would need to hire a team to run the classes (yoga instructors, surfers,
fitness enthusiasts, etc.) in addition to hiring employees that would help with
the production of the training device, take online orders, maintain the company
website, connect with potential partners, etc.
I think my most important resource
will be the new and exciting approach to workout out that will be fun and
efficient. People will look forward going to this class, both for the
experience that they have during It and the benefits that it provides to their
health and overall lifestyle. My experience in extreme sports will also allow
me to develop this product in a way that will benefit specific sports.
I would say the next step for this
venture would be to transition in to other extreme sports similar to surfing.
We could design new training devices that better cater to the muscles needs to
balance in difference sports. Anything from snowboarding, to skateboarding, to
wakeboarding could benefit from an additional training device like this.
I hope this venture would become
very successful and would provide me with the financial capital to travel and
pursue my passions, all while connecting with interesting and successful people
in various similar industries that may be potential clients, partners, or just
inspiration for future ventures.
2) To be honest I didn't receive much negative feedback about this idea. The only main thing was people wanted more information on exactly how the balance device works, and which muscles it trains the most efficiently (which I included in my updated venture concept). I also liked someones idea of have a 12 week workout program that accompanies some on the water training with the in class balance training.
3) I didn't really change anything about my core idea, just added some additions elements to it and went into more depth about the product itself.
Sunday, April 17, 2016
Week 14 Reading Reflection
1) The thing that surprised me the most about this reading was how they sort of downplayed corporate culture. I was surprised, and pleased to have read this as it has become an anti-cultural way of thinking but I definitely agree with the author.
2) I didn't totally understand the corporate entrepreneurial philosophy. I liked what they were trying to get at, but I think they were trying to merge 2 very different styles of doing business.
3) I would ask him 1 - what research have you done to come to these conclusions? and 2- what evidence do you have to prove that these philosophies have proven successful.
4) I wouldn't go as far to say that the author was wrong about anything. I am just uninformed on some of the topics that he covered that I would need to research more to have a more sufficient opinion.
2) I didn't totally understand the corporate entrepreneurial philosophy. I liked what they were trying to get at, but I think they were trying to merge 2 very different styles of doing business.
3) I would ask him 1 - what research have you done to come to these conclusions? and 2- what evidence do you have to prove that these philosophies have proven successful.
4) I wouldn't go as far to say that the author was wrong about anything. I am just uninformed on some of the topics that he covered that I would need to research more to have a more sufficient opinion.
Google Gold
1) My general approach to search engine optimization was to learn about the necessary steps to get your website up in the higher rankings of google. Things like meta information, descriptions and keywords allow one to accomplish this.
2) My keywords were entrepreneurship, student, blog, money, technology, business. I selected these keywords based on my blog content and overall topic of discussion. I used most of the same keywords throughout the semester.
3) Honestly, I didn't use too much social media to enhance my efforts. I didn't want to swamp my friends with content that they likely were uninterested in. However, if this were a company I stood behind I would know how to implement social media to benefit.
4) My most viral post was the twenty percent. I was fairly surprised that this one had the most views, as I felt it was one of my lower quality posts. It was about identifying the 20% that contributes to 80% of profits.
5) I did not make it to the first page, but I did make it to the second. I was pleased with my results.
2) My keywords were entrepreneurship, student, blog, money, technology, business. I selected these keywords based on my blog content and overall topic of discussion. I used most of the same keywords throughout the semester.
3) Honestly, I didn't use too much social media to enhance my efforts. I didn't want to swamp my friends with content that they likely were uninterested in. However, if this were a company I stood behind I would know how to implement social media to benefit.
4) My most viral post was the twenty percent. I was fairly surprised that this one had the most views, as I felt it was one of my lower quality posts. It was about identifying the 20% that contributes to 80% of profits.
5) I did not make it to the first page, but I did make it to the second. I was pleased with my results.
Wednesday, April 13, 2016
Very Short Interview, Part 2
After looking back over the interview that I had with Chad Nuss, I think he provided me with some insightful and quality responses. His experience in entrepreneurship was well known to me, but after taking this class I think even more highly of him and his knowledge. I would say his definition of what it means to be an entrepreneur was very spot on. Thinking independently and being self reliant was key in not only completing this online course, but as well as in idea development and innovation which are both large elements of entrepreneurship. I also really liked his point about seeing demand in the market - I thought about it a lot when I was completing the assignments about identifying and filling needs. Like Chad, I also wish we presented with more examples of small businesses in the early stages of development. I think this would provide a lot of knowledge that would be very valuable and applicable.
Follow up interview:
Alex: What struggles have you encountered with running your business since we spoke last?
Chad: I have struggle the most maintaining productive and effective team dynamics. Interpersonal relationships are key in business and if your team is not operating at its highest level profits are going to suffer as a result. I have been implementing some different team building strategies to improve our company culture.
Alex: What are your long term goals for your current company InsideOut?
Chad: I want to continue to develop our web presence, innovate our current marketing tactics, implement some new technologies that would be beneficial for our clients, and continue to keep profits on a uphill slope to potentially exit from the business at some point.
Alex: If you could give one final piece of advice for an aspiring entrepreneur like myself, what would it be?
Chad: Never give up. Continue to stay interested in a variety of topics. Work on fundamental skills such as speaking, typing, writing, and reading as these are necessary regardless of your field. Practice your ability to focus for long periods of time without distractions. Enjoy the ride!
I think I have definitely progressed as an entrepreneur as a result of this class. Prior to this course, I was already very interested in entrepreneurship and had spent a decent amount of time engulfing myself in business news, blogs, articles, and books. However, I think this class did a good job of simplifying the basics of entrepreneurship and really laying a good foundation for students who are very new to the subject. I felt very comfortable speaking with Chad again, and think that I used a lot of things I learned this semester in our conversations. He appreciated me interviewing him and really listening to his responses. We also discussed some other web development interests that I have, and he was impressed with my ability to converse on a wide variety of topics.
Follow up interview:
Alex: What struggles have you encountered with running your business since we spoke last?
Chad: I have struggle the most maintaining productive and effective team dynamics. Interpersonal relationships are key in business and if your team is not operating at its highest level profits are going to suffer as a result. I have been implementing some different team building strategies to improve our company culture.
Alex: What are your long term goals for your current company InsideOut?
Chad: I want to continue to develop our web presence, innovate our current marketing tactics, implement some new technologies that would be beneficial for our clients, and continue to keep profits on a uphill slope to potentially exit from the business at some point.
Alex: If you could give one final piece of advice for an aspiring entrepreneur like myself, what would it be?
Chad: Never give up. Continue to stay interested in a variety of topics. Work on fundamental skills such as speaking, typing, writing, and reading as these are necessary regardless of your field. Practice your ability to focus for long periods of time without distractions. Enjoy the ride!
I think I have definitely progressed as an entrepreneur as a result of this class. Prior to this course, I was already very interested in entrepreneurship and had spent a decent amount of time engulfing myself in business news, blogs, articles, and books. However, I think this class did a good job of simplifying the basics of entrepreneurship and really laying a good foundation for students who are very new to the subject. I felt very comfortable speaking with Chad again, and think that I used a lot of things I learned this semester in our conversations. He appreciated me interviewing him and really listening to his responses. We also discussed some other web development interests that I have, and he was impressed with my ability to converse on a wide variety of topics.
Sunday, April 3, 2016
My Exit Strategy
1) My exit strategy: I think the exit strategy that I would take for this business would be to work really hard for about 5 years to develop my overall brand name for the company to get it very involved in the specific extreme sport industries that I am interested in targeting. I think once I have it established in a few different extreme sports, or even just a solid amount of locations for surfing, I think I will be able to sell this business as a franchise because people will see the opportunity for expansion.
2) I have selected this particular exist strategy because it will allow me to enjoy the process of establishing a successful business as well as reaping the benefits of selling a successful one. It will provide me with something to focus on for a period of time, and something to support me not focusing and relaxing for a period of time. I think it would be a very enjoyable exist strategy if I could pull it off.
3) I would not say that my exit strategy has effected the growth or formation of my business at all really. It just hasn't been a big thought in my head and I've been more focused on the concept and implementation of business. The exit strategy was just an afterthought but I think it would be a very seamless and easy exit strategy is I wanted to get out.
2) I have selected this particular exist strategy because it will allow me to enjoy the process of establishing a successful business as well as reaping the benefits of selling a successful one. It will provide me with something to focus on for a period of time, and something to support me not focusing and relaxing for a period of time. I think it would be a very enjoyable exist strategy if I could pull it off.
3) I would not say that my exit strategy has effected the growth or formation of my business at all really. It just hasn't been a big thought in my head and I've been more focused on the concept and implementation of business. The exit strategy was just an afterthought but I think it would be a very seamless and easy exit strategy is I wanted to get out.
What's Next
Existing Market:
- I think the next step for me would be to take this venture and apply it to other similar extreme sports that would also benefit from a balance training exercise class.
-After interviewing customers about what I should do next, I reached a pretty solid overall consensus of where this venture should be going. Everyone seemed to think that this venture fit very nicely into the current and future fitness industry. Paving the way for new exercise products and services like Zen Surf will allow us to direct more traffic to our business and promote the industry. The overall thought in the interviews was that we should try to take this business and expand into other extreme sports, and tweak the training device slightly to cater for the different needs.
- I think this would be a very easy product and service to expand in the existing market because it will draw so much attention from consumers with very similar interests. Many surfers like skateboarding and snowboarding, so these would be sports in the extreme sports market that we would try to target. It would be very easy to reach out to these potential customers as they are typically interested in all of these sports and if we had an eye drawing campaign I think we could be highly successful in this pursuit.
I think it would be important to have some big time faces backing our brand and pushing it out into the existing market with the write presence. I think this product and service will really heavily on the overall brand and image that it promotes, as well as the benefit that it serves for the particular sport intended to train.
New Market:
- The radically different market that I think would truly embrace this idea would be underdeveloped countries that don't have access to the ocean and surf. I think they would love this concept and be stoked to learn some surfing techniques, and get a great workout at the same times.
- My venture would create value in this market because it would provide underprivileged kids with a foundation and focus to keep them healthy and on track. It will be a good outlet for them to stay away from trouble, have fun, and stay in shape.
- I received some very constructive responses in regards to how I should implement this in a new market. The overall consensus seemed to be to focus on product development and really make sure the training device benefited the specific sport of interest. This will determine the overall success of the service as well as the product.
- I definitely think there is ample opportunity in this new market and there is so much room to expand this combination of a product and a service. Since extreme sports typically expose very similar fans (many who are fans of one extreme sport also are fans of another) this new market would be extremely easy to reach once engulfed in it. If I could reach the surfing industry and get my product and service out there, It would allow me to propel into other industries.
Snowboarding, skateboarding, and wakeboarding are the sports and markets that seem like this idea would be the best to apply to. These participants all generally enjoy surfing as well, as they are very related sports. I think it would be easy to advertise to these consumers and transition them to get interested in a new extreme sport and the training device available for it in the market.
- I think the next step for me would be to take this venture and apply it to other similar extreme sports that would also benefit from a balance training exercise class.
-After interviewing customers about what I should do next, I reached a pretty solid overall consensus of where this venture should be going. Everyone seemed to think that this venture fit very nicely into the current and future fitness industry. Paving the way for new exercise products and services like Zen Surf will allow us to direct more traffic to our business and promote the industry. The overall thought in the interviews was that we should try to take this business and expand into other extreme sports, and tweak the training device slightly to cater for the different needs.
- I think this would be a very easy product and service to expand in the existing market because it will draw so much attention from consumers with very similar interests. Many surfers like skateboarding and snowboarding, so these would be sports in the extreme sports market that we would try to target. It would be very easy to reach out to these potential customers as they are typically interested in all of these sports and if we had an eye drawing campaign I think we could be highly successful in this pursuit.
I think it would be important to have some big time faces backing our brand and pushing it out into the existing market with the write presence. I think this product and service will really heavily on the overall brand and image that it promotes, as well as the benefit that it serves for the particular sport intended to train.
New Market:
- The radically different market that I think would truly embrace this idea would be underdeveloped countries that don't have access to the ocean and surf. I think they would love this concept and be stoked to learn some surfing techniques, and get a great workout at the same times.
- My venture would create value in this market because it would provide underprivileged kids with a foundation and focus to keep them healthy and on track. It will be a good outlet for them to stay away from trouble, have fun, and stay in shape.
- I received some very constructive responses in regards to how I should implement this in a new market. The overall consensus seemed to be to focus on product development and really make sure the training device benefited the specific sport of interest. This will determine the overall success of the service as well as the product.
- I definitely think there is ample opportunity in this new market and there is so much room to expand this combination of a product and a service. Since extreme sports typically expose very similar fans (many who are fans of one extreme sport also are fans of another) this new market would be extremely easy to reach once engulfed in it. If I could reach the surfing industry and get my product and service out there, It would allow me to propel into other industries.
Snowboarding, skateboarding, and wakeboarding are the sports and markets that seem like this idea would be the best to apply to. These participants all generally enjoy surfing as well, as they are very related sports. I think it would be easy to advertise to these consumers and transition them to get interested in a new extreme sport and the training device available for it in the market.
Wednesday, March 30, 2016
Venture Concept No. 1
ZenSurf
The opportunity that I am trying to capitalize on is the need to stay healthy and happy in a time where there are ample amount of unhealthy distractions in today’s society. One of the main components of staying healthy overall is fitness. The current fitness industry lacks diversity and exhibits large amounts of mundaneness. The opportunity lies in those unhappy customers who are participating in workout class, paying gym membership fees, joining yoga clubs, etc. and are making slim to none progress on their goals and overall intent to workout in the first place. These people are yearning for something more exciting, more productive, and more efficient that allows them to accomplish the goals they intended to in the first place. The opportunity lies in people who are looking to better themselves through fitness in a healthy and enjoyable manner. These people want to have fun and enjoy life, while staying in shape in order to sustain their lifestyles. I think technology is exposing people to more things than what is just in their immediate environment, and this is resulting in people getting curious about things and having new interests. In order to fulfill your goals, and incorporate these new interests, new venues of fitness need to be introduced into the marketplace. This opportunity is huge. The fitness industry is a billion dollar industry and I honestly feel that it id nowhere near its full potential. Fitness will always be a part of society, as humans need to be healthy to survive and be happy.
The product
and service that I am trying to introduce into the market will satisfy these
unmet needs and diversify the industry in such a way that people will be drawn
to it over everything else available. I will provide a fun, productive, safe,
and effective exercise class involving a patented balance training device that
will be implemented along will aerobic, exercise, stretching, weight lifting,
and yoga to create and all encompassing, exercise class.
My
customers will be extremely happy and grateful this product and service is on
the market one it is. It will open their eyes up to a whole new way of
exercising that will actually be enjoying, while also reaping great results.
Everyone will love this new class once they hear about it. The implementation
of exciting tools such as projections of waves, sand on the workout floor, and beach vibes music will
give this company the competitive advantage that it deserves. This is the new
wave of fitness and if you want to stay healthy, you better learn how to surf
it. I would say the main possible weakness or vulnerabilities would be a
potential competitor trying to replicate my product/service. However, this
would also drive more traffic towards my company, which will result in higher
revenue generation. It’s a win win I suppose. I think business location,
customer experience, and marketing are the most fundamental parts that will
lead to the success of this venture. I need to start my company in a hotbed of
surfing, provide exception customer experience and relations, and connect with
the top names in surfing to get the name out there and get the right facing
using my product. In order to support an ongoing production of this venture I
would need to hire a team to run the classes (yoga instructors, surfers,
fitness enthusiasts, etc.) in addition to hiring employees that would help with
the production of the training device, take online orders, maintain the company
website, connect with potential partners, etc.
I think my most important resource
will be the new and exciting approach to workout out that will be fun and
efficient. People will look forward going to this class, both for the
experience that they have during It and the benefits that it provides to their
health and overall lifestyle. My experience in extreme sports will also allow
me to develop this product in a way that will benefit specific sports.
I would say the next step for this
venture would be to transition in to other extreme sports similar to surfing.
We could design new training devices that better cater to the muscles needs to
balance in difference sports. Anything from snowboarding, to skateboarding, to
wakeboarding could benefit from an additional training device like this.
I hope this venture would become
very successful and would provide me with the financial capital to travel and
pursue my passions, all while connecting with interesting and successful people
in various similar industries that may be potential clients, partners, or just
inspiration for future ventures.
Sunday, March 27, 2016
Week 11 Reading Reflection
1) Biggest surprise - It surprised me that Pisano believe innovation was architectural.
2) Confusing part of reading - I was confused about the section regarding routine innovation.
3) Two questions to the author - What is the different in innovation of services vs. products?
Do you think there are different cycles to innovation in our society?
4) Author wrong about anything? - I honestly thing the author was pretty spot on in everything he said. It was a very well written article in my opinion.
2) Confusing part of reading - I was confused about the section regarding routine innovation.
3) Two questions to the author - What is the different in innovation of services vs. products?
Do you think there are different cycles to innovation in our society?
4) Author wrong about anything? - I honestly thing the author was pretty spot on in everything he said. It was a very well written article in my opinion.
Amazon Whisperer
Revenue Drivers:
- memberships for Zen Surf classes
- one time payment for classes
- selling the balance training tool at the gyms.
- selling the balance training tools online/retail.
- partnering with red bull and taking a percentage of the items sold in the gym
- partnering with a juice bar company
I think a spin off of this class would be something that customers would really enjoy as well. This would be a similar balance focused training class but it could be tailored to other similar sports such as snowboarding or wakeboarding.
If we extended the brand and offered training devices for other sports this would allow us to expose ourself to a varieties of markets which will result in higher profits.
The product that I found on Amazon that was similar to the product I want to create is called Revolution Fit 3-in-1 balance board training system. It is used by athletes and fitness gurus to strengthen core muscle groups and improve stability, reflexes , and recovery speed.
The customer reviews for this product were extremely good. I could find a single bad thing. People liked the size and shape of the board, various balance beams, the texture of the board, and the overall workout that the board can provide.
I cant really think of any design changes that I would make to the product other than having some different graphics on it.
This product would make a good addition to my company as it would allow me to reach different markets and get more clients.
Wednesday, March 23, 2016
My Unfair Advantage
Resources My Venture Possesses
- VRIN - highly valuable, could result in huge financial profits. fairly rare as the surf industry is somewhat still a niche in the large scheme of things. imitatable - this could definitely be copied in other industries. no other industry could really provide benefits for the surf industry outside of it.
- VRIN - extremely valuable, this new wave of fitness could outperform all current forms of exercise and be the catalyst for many other similar spin offs. That's what makes this resource so valuable is that it is so rare. Assuming I could get a patent on the surf balance training device, this would be very difficult to imitate. The health and fitness industry is huge and I still think that are holes that need to be filled in the demand for various types of exercises. This service could have competition, but I only think that will drive our profits.
- VRIN - extremely valuable, this would keep control on the market and allow us to corner a segment of the fitness industry. The patent would keep our class rare as there would be no class just like it. If it was patented, it would be illegal for someone to imitate the product. It would also be non substituteable.
- VRIN - extremely valuable, this would be key to the success of our idea. Rare, if we partnered with the top athletes in the surf industry. It would not be very easy to copy by others because there are only so many extremely talented surfers.
- VRIN - slightly valuable, not the main focus of the class but an added asset. Not very rare as the yoga industry is so large and rapidly growing. Definitely imitateable and subsitutable. However, out class would aim to implement yoga in a unique way.
- VRIN - highly valuable, would allow me to get connected to the right people. Rent is pretty damn high so you could say this is rare.
- VRIN - valuable, connections are key as well as marketing and advertising. Nothing better than word of mouth and social media.
- VRIN - highly valuable, good partners are always important to have. It is rare to have people who are interested and surfing, and have money to invest (more time spent in water than earning for most).
- VRIN - valuable, another added asset to the team. It isn't too rare to have people interested in this combination of activities, so it is fairly easy to put together a solid team.
- VRIN - extremely valuable, this is our competitive advantage and is how we want to transcend the fitness industry. This idea is definitely rare as there is nothing like it currently on the market. If we get the proper patents and implement a unique highly enjoyable experience, I don't think people will be able to compete.
Wednesday, March 16, 2016
Elevator Pitch No. 3
1) The Pitch:
2) Reflection on feedback: Given that I did not complete the last elevator pitch assignment, I did not receive any feedback. However, I felt very comfortable giving this pitch and thought that I did a decent job on it.
3) Since I didn't receive any feedback from the previous assignment, I didn't change anything.
Sunday, March 13, 2016
Week 9 Reading Reflection
1) Biggest surprise in the reading, stood out from expectations - I was surprised and alarmed when reading about the changing priorities and purchases in the family life cycle. It was interested to see how accurately they depicted this in the chart of the various stages. Kinda of eye opening for me though as it makes life seem very robotic and systematic.
2) Confusing part of the reading - The part on psychological factors affecting the pricing decision confused me as I didn't normally think the quality of a product is determined according to the level of the items price. I usually judge a product on itself not what people value it to be worth. However I do understand this phenomenon in the case of expensive art - looks valueless to me but people think its nice solely because it is expensive.
3) 2 Questions to the author:
What similarities do you see between family life cycles and product life cycles?
What do you think is the most effective pricing strategy for a company looking to get high returns in a short time frame - hit it and quit it type business.
Why? I think both of these questions are very relevant to the material covered in this chapter and I think they would give some good personal insight from the author.
4) Author wrong about anything - I think in some regards the author was wrong about the psychological factors affecting the pricing decision.
2) Confusing part of the reading - The part on psychological factors affecting the pricing decision confused me as I didn't normally think the quality of a product is determined according to the level of the items price. I usually judge a product on itself not what people value it to be worth. However I do understand this phenomenon in the case of expensive art - looks valueless to me but people think its nice solely because it is expensive.
3) 2 Questions to the author:
What similarities do you see between family life cycles and product life cycles?
What do you think is the most effective pricing strategy for a company looking to get high returns in a short time frame - hit it and quit it type business.
Why? I think both of these questions are very relevant to the material covered in this chapter and I think they would give some good personal insight from the author.
4) Author wrong about anything - I think in some regards the author was wrong about the psychological factors affecting the pricing decision.
Wednesday, March 9, 2016
Idea Napkin No. 2
1) I have always really enjoyed being athletic whether it be playing
traditional sports such as lacrosse and football, or more non
traditional water sports. I have been a water sports enthusiast for as
long as I can remember. I have wakeboarded for about 15 years and have
always enjoyed surfing, but didn't get to do it as much as the waves in
Florida were rarely decent. However, now that I am currently spending
some time in California, I have had a lot more exposure to the sport
and the industry. Exercise has always played a role in my life (whether
it be weight lifting, stretching or cardio) but mainly for the
performance benefits it provides in sports. I find exercising in a gym
to be fairly boring and thought that it would be cool to make a
product/service that would make it more enjoyable. I aspire to live a
flexible lifestyle in the future, have the ability to travel, and be
surrounded by like-minded people who enjoy similar activities. This
business would allow me to do something that I love, stay healthy and
happy, and provide people with a product/service that would benefit
them. I think my passion for the sport and exercise in general will really push this business and allow me to self-market a lot. I think if I keep the classes very personal this will allow me to keep the instructors really one-on-one with the participants.
2) My business proposition is a combination of a product and service. First I will develop a surfing-specific balance training device - a miniature surfboard that will be supported by a half bosu ball. I will combine the use of this device, along with indo boards, and yoga to create a surf centered exercise class. This will be taught in a studio like environment with a very beachy/surfer vibe. There will be sand on the ground as wall as large projections of waves on the walls. This will provide customers with an enjoyable sport-centered class that will particularly benefit surfers, but will also provide health benefits for any individual looking to get into better shape.
3) This product/service would be offered to health conscious people looking to stay in shape and enjoy the process at the same time. Specifically, surfers of all ages and genders will be targeted as the class is intended to provide direct benefits to this sport. I should target all fitness conscious people, specifically those looking to get "toned".
4) Customers will pay for this product/service as it will provide them with a "new wave" (potential slogan) of exercise that will transfer over to higher performance in the real waves. It will also provide the health conscious individual (non-surfer) with a fun introduction to the surfing would, an enjoyable exercise class, and physical and mental benefits that will transfer over into all areas of their life. Can also be a great class for kids to take to get into surfing and start to improve their balance.
5) The core competencies of this business would be the fun approach to exercise that would allow people who typically hate going to the gym or find running boring to stay in shape and get a good workout in that is more enjoyable than standard exercise. It will be an all inclusive experience that will provide all around health benefits. The surf inspired balance training device would be patented and only used/sold through our classes.
Overall, I feel all of these elements fit together very nicely. Given that I have a lot of experience with water sports and am currently located in the hub of the surfing industry I think I would be able to (along with a team of other surfers, yogis, and exercise enthusiasts) provide a unique service and product. Given that I initially thought of this idea as a solution to my own problem, I have a lot of invested energy in the business and think that my love for the sport would make this business even more valuable and successful.
Feedback memo -
Five main points I took from the feedback:
1. This business idea could be implemented in a variety of areas - not just locations heavily saturated in the surf industry.
2. This idea could be marketed to a variety of targets.
3. This idea could potentially be replicated.
4. Having an idea driven from passion is key and will fuel the business.
5. The fitness industry is constantly evolving and there is a lot of opportunity.
I incorporated this feedback into the napkin idea by adding on to my previous post and modifying it according to my newfound customer feedback. I feel much more confident about my idea after receiving feedback as I would say 90% of it was positive.
2) My business proposition is a combination of a product and service. First I will develop a surfing-specific balance training device - a miniature surfboard that will be supported by a half bosu ball. I will combine the use of this device, along with indo boards, and yoga to create a surf centered exercise class. This will be taught in a studio like environment with a very beachy/surfer vibe. There will be sand on the ground as wall as large projections of waves on the walls. This will provide customers with an enjoyable sport-centered class that will particularly benefit surfers, but will also provide health benefits for any individual looking to get into better shape.
3) This product/service would be offered to health conscious people looking to stay in shape and enjoy the process at the same time. Specifically, surfers of all ages and genders will be targeted as the class is intended to provide direct benefits to this sport. I should target all fitness conscious people, specifically those looking to get "toned".
4) Customers will pay for this product/service as it will provide them with a "new wave" (potential slogan) of exercise that will transfer over to higher performance in the real waves. It will also provide the health conscious individual (non-surfer) with a fun introduction to the surfing would, an enjoyable exercise class, and physical and mental benefits that will transfer over into all areas of their life. Can also be a great class for kids to take to get into surfing and start to improve their balance.
5) The core competencies of this business would be the fun approach to exercise that would allow people who typically hate going to the gym or find running boring to stay in shape and get a good workout in that is more enjoyable than standard exercise. It will be an all inclusive experience that will provide all around health benefits. The surf inspired balance training device would be patented and only used/sold through our classes.
Overall, I feel all of these elements fit together very nicely. Given that I have a lot of experience with water sports and am currently located in the hub of the surfing industry I think I would be able to (along with a team of other surfers, yogis, and exercise enthusiasts) provide a unique service and product. Given that I initially thought of this idea as a solution to my own problem, I have a lot of invested energy in the business and think that my love for the sport would make this business even more valuable and successful.
Feedback memo -
Five main points I took from the feedback:
1. This business idea could be implemented in a variety of areas - not just locations heavily saturated in the surf industry.
2. This idea could be marketed to a variety of targets.
3. This idea could potentially be replicated.
4. Having an idea driven from passion is key and will fuel the business.
5. The fitness industry is constantly evolving and there is a lot of opportunity.
I incorporated this feedback into the napkin idea by adding on to my previous post and modifying it according to my newfound customer feedback. I feel much more confident about my idea after receiving feedback as I would say 90% of it was positive.
Sunday, February 28, 2016
Week 8 Reading Reflection
1) The thing that surprised me most when reading this chapter was how specifically and clearly the Financing Continuum depicted the various levels of financing for start-up companies. I think it was a very good outline but there are always still exceptions, such as very wealthy family members who may invest (like Donald Trumps 1 million dollar loan that he received).
2) I was confused by the Private Placements section. It appears to be some sort of requirements.
3) The two questions I would ask to the author are -
If you were to work in the finance industry, which sector do you think would/could be the most lucrative?
Why do you think it is wrong to want to own control of a business?
4) I think the author was wrong when he stated that venture capitalists are not quick to invest. I think they are vest quick to invest if they think they spot a good opportunity that needs to be moved on quick.
2) I was confused by the Private Placements section. It appears to be some sort of requirements.
3) The two questions I would ask to the author are -
If you were to work in the finance industry, which sector do you think would/could be the most lucrative?
Why do you think it is wrong to want to own control of a business?
4) I think the author was wrong when he stated that venture capitalists are not quick to invest. I think they are vest quick to invest if they think they spot a good opportunity that needs to be moved on quick.
The Twenty Percent
1) Business Owner - Bill Miller. Car Mechanic/auto sales
Bill identified his target customers as mainly classic car enthusiasts who are interested in collecting cars as a hobby or enjoy restoring older cars. Typically older well established males ranging from 30s-80s. These customers either need work done on their cars or are looking to purchase a car. Bill typically finds his customers through word of mouth, car shows, or online advertising. His customers would be into shows like overhauling, oc choppers, etc.
2) "Target Customers"
Scott - "I'm looking for someone to help me with various aspects of a restoration project, as well as potentially purchase another car at some point."
Bob - "I met Bill at a car show in Orange County. We just talked a lot about cars and shared a lot of similarities in that sense. I heard he does great work on classic cars. Turns junkers into really nice looking things."
Tom - "Personally I think Bills work is a bit outdated and his cars really are out of style. He knows what he is doing but I prefer a different look."
3) It appears the entrepreneur adequately understands the consumers unmet needs and is providing a valuable service to them. The only discrepancy appears to be arising as a result of personal taste, so you can't really discount Bill on that.
Bill identified his target customers as mainly classic car enthusiasts who are interested in collecting cars as a hobby or enjoy restoring older cars. Typically older well established males ranging from 30s-80s. These customers either need work done on their cars or are looking to purchase a car. Bill typically finds his customers through word of mouth, car shows, or online advertising. His customers would be into shows like overhauling, oc choppers, etc.
2) "Target Customers"
Scott - "I'm looking for someone to help me with various aspects of a restoration project, as well as potentially purchase another car at some point."
Bob - "I met Bill at a car show in Orange County. We just talked a lot about cars and shared a lot of similarities in that sense. I heard he does great work on classic cars. Turns junkers into really nice looking things."
Tom - "Personally I think Bills work is a bit outdated and his cars really are out of style. He knows what he is doing but I prefer a different look."
3) It appears the entrepreneur adequately understands the consumers unmet needs and is providing a valuable service to them. The only discrepancy appears to be arising as a result of personal taste, so you can't really discount Bill on that.
Half-Way Reflection
1) Tenaciousness is a skill. This statement is key for this class and it is definitely a skill that you will have to utilize throughout the semester in order to do well. I got lazy and slightly behind on assignments, but took advantage of yellowdig to make up for it. There are plenty of opportunities to earn points throughout the semester, you just need to stay on top of it.
2) Tenaciousness is also about attitude. About a month into the semester I would pretty behind on a lot of assignments and was contemplating dropping the class. But then after realizing how many more points were still available, I realized I could still turn things around.
3) Three Tips:
-stay organized
-don't give up
-capitalize on opportunities
2) Tenaciousness is also about attitude. About a month into the semester I would pretty behind on a lot of assignments and was contemplating dropping the class. But then after realizing how many more points were still available, I realized I could still turn things around.
3) Three Tips:
-stay organized
-don't give up
-capitalize on opportunities
Sunday, February 21, 2016
Week 7 Reading Reflection
1) I was surprised when the author touched on the different psychographic types that advertisements with generally use and how they are often representations of real peoples life styles, actions, and perceptions on life.
2) I still don't really understand why demographic segmentation isn't still beneficial as well. It seems as though factors such as age, income, gender, etc would still play a large role in a buyer's decision making process.
3) Questions to author - How do people test the success of one segmentation application vs. another (demographic vs non-demographic)? How does this increased knowledge help producers/business in their selling processes?
4) I think the author was inaccurate in some of his generalizations regarding segmentation and its affect on advertising and marketing to a variety of consumers.
2) I still don't really understand why demographic segmentation isn't still beneficial as well. It seems as though factors such as age, income, gender, etc would still play a large role in a buyer's decision making process.
3) Questions to author - How do people test the success of one segmentation application vs. another (demographic vs non-demographic)? How does this increased knowledge help producers/business in their selling processes?
4) I think the author was inaccurate in some of his generalizations regarding segmentation and its affect on advertising and marketing to a variety of consumers.
Sunday, February 14, 2016
Customer Interviews No. 3
1) Interviewing strategy - I plan on targeting customers that I know would be in the target demographic for my business so I can get a good read on their reactions to the product/serive. The interviewees include yoga and workout enthusiasts, experienced and beginner surfers, and also athletes that participate in sports other than surfing. I will utilize FaceTime to reach some of these interviewees, as I would like to hear different perspectives on the idea from areas other than my direct vicinity (which is highly saturated in the surfing industry).
Business Concept - Zen Surf is a surfing focused exercise class that would change the way people exercise. By combining the use of highly coveted balance training devices , resistance training, knowledgeable yoga instructors and surfers, and a laid back atmosphere you get the next wave of exercise. Aimed to make exercising more fun and beneficial to the specific sports we participate in, Zen Surf will utilize projections of waves and sand to help surfers imagine they are in the ocean. This product/service would be highly beneficial to surfers, athletes, yogis, and fitness gurus alike. Partnering with other leaders in the surfing/health food industry (juicing companies, smoothies, acai, redbull, quicksilver) would make this an all encompassing experience.
2) Interviews -
What is your reaction to the Business Concept...?
Beth (yogi/beginner surfer)
Kurt (cyclists/experienced surfer)
Katie (workout enthusiast/ballerina)
Dan (West Point football player) - "I've never surfed before but I would try this class out. Sounds like it could be really fun."
Bill (motocross/beginner surfer) - "I think this is a very interesting idea and could be beneficial for a variety of athletes if the correct balance training tools are implemented in a proper manner."
3) Reflection/Take-away - Overall I'm fairly pleased with the reactions that I received after sharing my business proposition. I think I have a solid foundation that still needs some ironing out of details. I large focus needs to be on the creation of the surf specific balance tool as well as keep the atmosphere and structure of the class centered around having fun.
Business Concept - Zen Surf is a surfing focused exercise class that would change the way people exercise. By combining the use of highly coveted balance training devices , resistance training, knowledgeable yoga instructors and surfers, and a laid back atmosphere you get the next wave of exercise. Aimed to make exercising more fun and beneficial to the specific sports we participate in, Zen Surf will utilize projections of waves and sand to help surfers imagine they are in the ocean. This product/service would be highly beneficial to surfers, athletes, yogis, and fitness gurus alike. Partnering with other leaders in the surfing/health food industry (juicing companies, smoothies, acai, redbull, quicksilver) would make this an all encompassing experience.
2) Interviews -
What is your reaction to the Business Concept...?
Beth (yogi/beginner surfer)
Kurt (cyclists/experienced surfer)
Katie (workout enthusiast/ballerina)
Dan (West Point football player) - "I've never surfed before but I would try this class out. Sounds like it could be really fun."
Bill (motocross/beginner surfer) - "I think this is a very interesting idea and could be beneficial for a variety of athletes if the correct balance training tools are implemented in a proper manner."
3) Reflection/Take-away - Overall I'm fairly pleased with the reactions that I received after sharing my business proposition. I think I have a solid foundation that still needs some ironing out of details. I large focus needs to be on the creation of the surf specific balance tool as well as keep the atmosphere and structure of the class centered around having fun.
Week 6 Reading Reflection
1) I was surprised how many internal and external factors a company should be aware of to continue analyzing its production and position in the marketplace.
2) The part of this reading that was most confusing to me was how the threats and bargaining powers interact and affect one another. What is their relationship like?
3) What is the most common day to day purpose of this model? How can this model benefit an organization in the long wrong? I would ask these because it would place more or less value on the model itself in my mind.
4) Overall, I think this model may be a little to analytical of external sources and circumstances and may distract attention away from more important matters.
2) The part of this reading that was most confusing to me was how the threats and bargaining powers interact and affect one another. What is their relationship like?
3) What is the most common day to day purpose of this model? How can this model benefit an organization in the long wrong? I would ask these because it would place more or less value on the model itself in my mind.
4) Overall, I think this model may be a little to analytical of external sources and circumstances and may distract attention away from more important matters.
Wednesday, February 10, 2016
Idea Napkin No. 1
1) I have always really enjoyed being athletic whether it be playing traditional sports such as lacrosse and football, or more non traditional water sports. I have been a water sports enthusiast for as long as I can remember. I have wakeboarded for about 15 years and have always enjoyed surfing, but didn't get to do it as much as the waves in Florida were rarely decent. However, now that I am currently spending some time in California, I have had a lot more exposure to the sport and the industry. Exercise has always played a role in my life (whether it be weight lifting, stretching or cardio) but mainly for the performance benefits it provides in sports. I find exercising in a gym to be fairly boring and thought that it would be cool to make a product/service that would make it more enjoyable. I aspire to live a flexible lifestyle in the future, have the ability to travel, and be surrounded by like-minded people who enjoy similar activities. This business would allow me to do something that I love, stay healthy and happy, and provide people with a product/service that would benefit them.
2) My business proposition is a combination of a product and service. First I will develop a surfing-specific balance training device - a miniature surfboard that will be supported by a half bosu ball. I will combine the use of this device, along with indo boards, and yoga to create a surf centered exercise class. This will be taught in a studio like environment with a very beachy/surfer vibe. There will be sand on the ground as wall as large projections of waves on the walls. This will provide customers with an enjoyable sport-centered class that will particularly benefit surfers, but will also provide health benefits for any individual looking to get into better shape.
3) This product/service would be offered to health conscious people looking to stay in shape and enjoy the process at the same time. Specifically, surfers of all ages and genders will be targeted as the class is intended to provide direct benefits to this sport.
4) Customers will pay for this product/service as it will provide them with a "new wave" of exercise that will transfer over to higher performance in the real waves. It will also provide the health conscious individual (non-surfer) with a fun introduction to the surfing would, an enjoyable exercise class, and physical and mental benefits that will transfer over into all areas of their life.
5) The core competencies of this business would be the fun approach to exercise that would allow people who typically hate going to the gym or find running boring to stay in shape and get a good workout in that is more enjoyable than standard exercise. It will be an all inclusive experience that will provide all around health benefits. The surf inspired balance training device would be patented and only used/sold through our classes.
Overall, I feel all of these elements fit together very nicely. Given that I have a lot of experience with water sports and am currently located in the hub of the surfing industry I think I would be able to (along with a team of other surfers, yogis, and exercise enthusiasts) provide a unique service and product. Given that I initially thought of this idea as a solution to my own problem, I have a lot of invested energy in the business and think that my love for the sport would make this business even more valuable and successful.
2) My business proposition is a combination of a product and service. First I will develop a surfing-specific balance training device - a miniature surfboard that will be supported by a half bosu ball. I will combine the use of this device, along with indo boards, and yoga to create a surf centered exercise class. This will be taught in a studio like environment with a very beachy/surfer vibe. There will be sand on the ground as wall as large projections of waves on the walls. This will provide customers with an enjoyable sport-centered class that will particularly benefit surfers, but will also provide health benefits for any individual looking to get into better shape.
3) This product/service would be offered to health conscious people looking to stay in shape and enjoy the process at the same time. Specifically, surfers of all ages and genders will be targeted as the class is intended to provide direct benefits to this sport.
4) Customers will pay for this product/service as it will provide them with a "new wave" of exercise that will transfer over to higher performance in the real waves. It will also provide the health conscious individual (non-surfer) with a fun introduction to the surfing would, an enjoyable exercise class, and physical and mental benefits that will transfer over into all areas of their life.
5) The core competencies of this business would be the fun approach to exercise that would allow people who typically hate going to the gym or find running boring to stay in shape and get a good workout in that is more enjoyable than standard exercise. It will be an all inclusive experience that will provide all around health benefits. The surf inspired balance training device would be patented and only used/sold through our classes.
Overall, I feel all of these elements fit together very nicely. Given that I have a lot of experience with water sports and am currently located in the hub of the surfing industry I think I would be able to (along with a team of other surfers, yogis, and exercise enthusiasts) provide a unique service and product. Given that I initially thought of this idea as a solution to my own problem, I have a lot of invested energy in the business and think that my love for the sport would make this business even more valuable and successful.
Thursday, January 21, 2016
Very Short Interview No.1 - Chad Nuss
Chad Nuss is co-founder and chief revenue officer of InsideOut. In 2015, Chad (along with his partner Christina) created this sales lab environment to test and measure sales velocity at every stage of the sales funnel. He brings over 17 years of senior management experience from previous projects he has worked on. He is a graduate of UC Santa Barbara and has been an entrepreneur ever since. This is the third company that he has founded. He currently lives in San Francisco, CA.
Interview:
-Alex: What does it mean to be an entrepreneur?
-Chad: Being able to think independently and being self reliant. Also, being able to take educated risks is key. Intuitively being able to see demand in the market and then validating it through testing.
-Alex: What do you think I should learn in an entrepreneurship course?
-Chad: Learning how to discover opportunities in the marketplace that you can then apply your own skills, or further develop skills if necessary, to service those opportunities and make a profit.
-Alex: What do you wish you had been taught in school before setting out on your own path as an entrepreneur?
-Chad: How a variety of businesses first get started, and what needs to be done to acquire the first customer. aka - How to develop a minimal viable product.
I thought Chad's responses were very informative and gave me a good alternative viewpoint on the class/entrepreneurship. His response about learning how to discover opportunities in the marketplace really resonated with the last assignment that I completed - "the world's biggest problems." This was a starting point for recognizing problems, which leads to opportunity. I would also really like to learn about the initial stages of various business, as I think this really broadens one's horizon and allows them to see what it takes to get the ball rolling.
Interview:
-Alex: What does it mean to be an entrepreneur?
-Chad: Being able to think independently and being self reliant. Also, being able to take educated risks is key. Intuitively being able to see demand in the market and then validating it through testing.
-Alex: What do you think I should learn in an entrepreneurship course?
-Chad: Learning how to discover opportunities in the marketplace that you can then apply your own skills, or further develop skills if necessary, to service those opportunities and make a profit.
-Alex: What do you wish you had been taught in school before setting out on your own path as an entrepreneur?
-Chad: How a variety of businesses first get started, and what needs to be done to acquire the first customer. aka - How to develop a minimal viable product.
I thought Chad's responses were very informative and gave me a good alternative viewpoint on the class/entrepreneurship. His response about learning how to discover opportunities in the marketplace really resonated with the last assignment that I completed - "the world's biggest problems." This was a starting point for recognizing problems, which leads to opportunity. I would also really like to learn about the initial stages of various business, as I think this really broadens one's horizon and allows them to see what it takes to get the ball rolling.
Wednesday, January 20, 2016
World's Biggest Problems
1. Climate Change - The gradual increase of temperatures worldwide. aka - "global warming". Human caused global warming occurs when certain gasses are release into the atmosphere which results in the "greenhouse effect." This is a natural process but is accelerated from humans polluting the environment, particularly CO2. A solution to this problem would be to reduce our carbon emissions, which could be by implementing regulations on factories, creating more electric cars, and other ways of creating energy other than burning fuel.
2. Famine - Worldwide about 1 in 9 people are hungry. Thousands of people die every day from hunger related causes, whether it be starvation (not eating anything for a certain period of time) or just eating enough to get by and their bodies get so weak that disease kills them. A solution to this problem is distribution of food from countries where it is more bountiful to those that are impoverished. Perhaps creating nutrition bars specifically with the intention of feeding these undeveloped, poverty level countries.
3. Water Crisis - The pollution of water is resulting in less and less accessible fresh water. 1 in 10 people worldwide lack access to safe water. 1 in 3 people lack access to a toilet. A solution to this would be creating/distributing personal filtration devices that would allow the impoverished to drink from the poor quality water they do have access to.
4. Poor/No Housing - Whether it be homeless people living off the streets, or people in third world countries whose only housing are shacks or cardboard boxes, millions of people have terrible living conditions worldwide. Providing shelter homes for these people is one solution. Perhaps they could trade whatever skills they have in return.
5. Running out of Oil/Energy - Petroleum is a non-renewable resource, and it will eventually run out at the global rate we are burning it. Creating other sources of energy/implementing them is necessary to continue powering this world. This would be wind, water, solar, etc.
6. Deforestation - We are cutting down forests at a rate faster than they are able to grow back. Trees provide us with oxygen which we need to breath. Some solutions to this problem would be to recycle/use other material to create things that we normally use trees for. Also planting more trees and designating national forests contributes to preventing this problem.
7. Species Extinction - Humans kills tons of other species for a variety of purposes: food, clothing, fun, collecting, etc. If we continue to do this certain species will eventually become extinct. A solution to this problem would be putting restrictions on endangered species as well as finding other sources to solve this issues - i.e eating vegetable instead of animals, creating clothing out of things other than animal fur.
8. Terrorism - Terrorism kills thousands of people world wide every year. Bombings, shootings, 9/11, etc. This is a very tough one to solve. One potential solution (which is highly controversial these days) would be implementing gun rights.
9. Economic Situation - The overall imbalance of economies worldwide. The fact that there are superpowers like the US and then tons of impoverished countries just doesn't seem right. Also the worldwide debt is off the charts. In US in particular we no longer produce what we need to sustain ourselves which is why we import way more than we export. This can be solves with politics as well as overall individual habits worldwide.
10. Disease - Deadly diseases such as AIDS, Influenza, Malaria, Cholera, and tons more are plaguing countries worldwide and killings millions of people. The solution to this problem would be to provide the necessary treatments and medicines to the victims. Many of the diseases do not have live saving treatments so the continuation of research is necessary to solve this worldwide problem.
3. Water Crisis - The pollution of water is resulting in less and less accessible fresh water. 1 in 10 people worldwide lack access to safe water. 1 in 3 people lack access to a toilet. A solution to this would be creating/distributing personal filtration devices that would allow the impoverished to drink from the poor quality water they do have access to.
4. Poor/No Housing - Whether it be homeless people living off the streets, or people in third world countries whose only housing are shacks or cardboard boxes, millions of people have terrible living conditions worldwide. Providing shelter homes for these people is one solution. Perhaps they could trade whatever skills they have in return.
6. Deforestation - We are cutting down forests at a rate faster than they are able to grow back. Trees provide us with oxygen which we need to breath. Some solutions to this problem would be to recycle/use other material to create things that we normally use trees for. Also planting more trees and designating national forests contributes to preventing this problem.
7. Species Extinction - Humans kills tons of other species for a variety of purposes: food, clothing, fun, collecting, etc. If we continue to do this certain species will eventually become extinct. A solution to this problem would be putting restrictions on endangered species as well as finding other sources to solve this issues - i.e eating vegetable instead of animals, creating clothing out of things other than animal fur.
8. Terrorism - Terrorism kills thousands of people world wide every year. Bombings, shootings, 9/11, etc. This is a very tough one to solve. One potential solution (which is highly controversial these days) would be implementing gun rights.
10. Disease - Deadly diseases such as AIDS, Influenza, Malaria, Cholera, and tons more are plaguing countries worldwide and killings millions of people. The solution to this problem would be to provide the necessary treatments and medicines to the victims. Many of the diseases do not have live saving treatments so the continuation of research is necessary to solve this worldwide problem.
Thursday, January 14, 2016
My Entrepreneurship Story
I have always been exposed to entrepreneurship, as it has been my dads main source of income for most of his life. During college he went to auctions to buy used cars and then flipped them for a profit. After college he started a bi-weekly newsletter in New York listing nearby foreclosures. He then went to wall street for one day but decided that it wasn't for him, and instead used his accounting degree and interest in finance to start his own finance business dealing with account receivables. It is very online based and flexible which allows him to work from home. This was cool as a kid because he could take our family on vacations a lot easier and was around to spend time with us frequently.
I enrolled in ENT 3003 because it was one of my core business classes. I hope to get exposure to a variety of fundamentals necessary to be a successful entrepreneur.
I enrolled in ENT 3003 because it was one of my core business classes. I hope to get exposure to a variety of fundamentals necessary to be a successful entrepreneur.
Introduction
Hello, I am currently starting my first semester at UF as a transfer
student studying business. I was born in Huntington, New York but have lived most of my life in Sarasota Florida. I have an older sister who is 22 and currently is head of marketing for a small start-up company. I played lacrosse in high school and college. I like all board sports and started wakeboarding when I was 6. I previously attended the University of Miami
for two years studying finance and entrepreneurship, but decided to
leave as I got sick of going to class and felt that I was learning
nothing applicable. I took a semester off and traveled the country in my
car and ended up in Huntington Beach, CA (which is where I live
currently). I am still ambivalent about getting a degree, but thought
that an online program would give me a lot more freedom to pursue other
interests. I have worked valet jobs, tutored, and interned with a
finance corporation. At the moment I have no specific career
aspirations, rather lifestyle aspirations. I really like traveling and getting exposure to different cultures and ways of life - I don't want to be locked down to a particular city for a long time. However, I am contemplating
pursuing pro wakeboarding, or starting a flexible online business. Or working for a start up. Or becoming a pilot. Or a stuntman. Or an investment banker. Or a vagabond. I
really have no idea...
Wednesday, January 13, 2016
Tuesday, January 12, 2016
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