ENT3003 Blog!

29A - Venture Concept No. 2 Do you ever go to the grocery store and feel overwhelmed by the amount of product you see sitting on the shelf? You wander the aisles aimlessly trying to decide what will work best for you, but you still feel like it's all too much.  This is a common problem that I was observing.  Consumers are constantly overwhelmed with choices and decisions, and many times, they are uninformed to make those decisions.      Currently, there is a large opportunity in this market.  There is an opportunity, because consumers value their time at a higher price than ever before, and are always looking for ways to save time, and there is an opportunity, because there is not a product like this currently on the market.      This is why I have created an app that helps consumers choose the best products possible.  Following is a quick walk through of the app.  The consumer would download the app.  They would then log in...

28A - Your Exit Strategy 1. Within the next five years, I plan to sell my business to focus on my real passions.  I will not be the best person to have at the forefront of this business, because I am not passionate about it.  I would like to exit this business before I am 30, then take some time to have a family, and then go back to work doing something I love. 2. I selected this exit strategy, because I do not want to be with this venture long term.  I want to make it profitable, and then sell it for a profit.  I also want to spend more time doing things I love, and running a huge business will not give me that time. 3. I feel like it may have influenced other decisions I have made in this concept.  Because I am not super passionate about the product, it may have influenced how much effort I put into the venture.

27A - Reading Reflection No. 3 1. The book I read was Coco Chanel by Lisa Chaney.  It was a detailed report of Chanel's private life and her creation of Chanel.  The thing I most admired about Coco Chanel is that she marched to the beat of her own drum, and did what she liked, whenever she liked.  The thing I least admired about Chanel is that she was often reckless, even if it meant sacrificing her brand and the people who worked for her.  Coco Chanel was constantly encountering adversity as a women leading a huge brand in the 1900s.  She simply worked harder than any of her competitors to get to where she is today. 2. The number one competency Chanel had was determination.  She would not take no for an answer.  When turned down, she would find something to change or evolve, so that next time she wouldn't be.  Chanel was also an extremely hard worker.  She sacrificed many things in her personal life to make sure her brand succeeded. ...

26A - Celebrating Failure 1.  This semester has been a really hard one for me professionally.  Academically, I am succeeding this semester.  I am a manager at a retail store in the Gainesville community, and while I love my job, I feel like it is time to do something different.  I am currently in school to get my degree, so I can have more opportunities for careers.  This semester, I have applied to multiple different jobs, but have not gotten any of them.  It is frustrating, because they all love my experience and personality, but are unwilling to hire me without a completed 4 year degree. 2. From these failures, I have learned the importance of perseverance.  There are many times that I think to myself that I am comfortable where I am, and don't want to make a career change at all.  But I know that isn't true.  These failures have just pushed me to finish my degree sooner, so I can be a more competitive candidate. 3. Failure is h...

25A- What's Next? Existing Market: 1. Next, I believe it is time for us to put things into action, create a brand and product, and present it to consumers. 2. All three consumers thought that it was time to bring the product to market, and introduce it to consumers.  One consumer stated, "There hasn't been anything like this available to us before, and it would be a disservice to keep it from us."  Consumers thought we should be planning for a large amount of interest when the app first launches. 3. Right now, we will work with a team of software engineers to code and create the best app possible.  We will then take it to local markets first. We will do this by selecting 10 large suburban cities across North America and roll it out there first.  After a successful integration into these cities, we will take the product nationwide. New Market: 1. The new market I have chosen to target is low income households coming in under the poverty line. 2. Many ...

24A- Venture Concept No. 1       Do you ever go to the grocery store and feel overwhelmed by the amount of product you see sitting on the shelf? You wander the aisles aimlessly trying to decide what will work best for you, but you still feel like it's all too much.  This is a common problem that I was observing.  Consumers are constantly overwhelmed with choices and decisions, and many times, they are uninformed to make those decisions.      Currently, there is a large opportunity in this market.  There is an opportunity, because consumers value their time at a higher price than ever before, and are always looking for ways to save time, and there is an opportunity, because there is not a product like this currently on the market.      This is why I have created an app that helps consumers choose the best products possible.  Following is a quick walk through of the app.  The consumer would download the app.  ...