Entrepreneurship

The book that I selected to read for this was  The Art of Social Media: Power Tips for Power Users, by Guy Kawasaki. 1. The general theme of this book is social media marketing. It covered a huge range of topics for building social media accounts for businesses and brands. 2.  I feel like the book enhanced what I am learning in the class because it made me reevaluate the way that I represent myself on social media from a business standpoint. It answered a lot of simple questions that I maybe thought I knew but didn't. 3) An exercise for this class based on the book could be to pick a social media platform that you are not that familiar with but interested in, such as YouTube, LinkedIn, Soundcloud, etc. and spend some time creating content and establishing yourself and better understanding that platform. 4. This book really made me realize how much social media can be a 'second resume' for people. In this day and age it is important to represent ourselves well o...

The exit strategy that I would like to make would probably to sell my business in the next 5 years. I don't see this as a business that I would want to do for the rest of my life, and I would rather get money from this and be able to start more businesses in the future. However, since I'm not as invested in this business as I would be if I were actually starting it right now, I can't say for sure what I'd want to do. I do not think my exit strategy influenced how I identified an opportunity, but I think it has influenced my growth intentions. My growth intentions that I defined were more of short-term goals that would happen within the next 2 years of having the business. I think I would like to expand the business to those goals before eventually selling it.

A time this past semester that I failed was taking my first genetics exam. I had studied for days straight beforehand. I had never before put so much effort into a class while receiving such a low grade. Reflecting on it after, I realized that even though I studied a lot before the exam and that usually I'd be fine doing the same thing for other classes, I hadn't put in sufficient work for the rest of the semester until the exam was coming up. Usually I handle my workload in my classes by not doing much work til the exam comes up, then learning everything in the few days before. After genetics I realized this strategy is not going to always work for me, so I changed my approach to actually make sure I'm putting in work and learning along the way.  I think this class has made me more comfortable taking risks, especially with the workshop. I had to put myself out there and talk to businesses to sell my product, and it was nerve wracking for me, but it definitely helped...

Existing Market.  I think the next services in store for my venture are quick grocery delivery. Once users select the meals they want to make and their grocery list is generated, they can select to have them delivered to their home. Also, since I would like to offer the option for people to input groceries they already have and the groceries that are bought will be tracked on the app, the app could alert the user when groceries are going to expire soon.  The customers that I interviewed suggested offering specific meal planning services for people who wanted that rather than selecting their own meals, and to also offer a meal basket service. They also suggested having a type of automatic checkout on the app like the amazon grocery store concept, where items placed in the cart will be recorded and the shopper can walk out of the store with everything being paid on the app. I think it would definitely make sense to partner with grocery stores in the future to offer th...

Resources in my venture: 1. My knowledge of the industry V- This is very valuable in creating a good product R- I don't think this is that rare I- Anyone who wanted could imitate N- Other resources could not provide the same benefits as this 2. Physical space to start the venture V- Valuable, but not extremely necessary as this is an app R- Not rare at all I- Could be copied by anyone N- Can't really be substituted for anything 3. Finances V- Valuable and necessary for the venture R- Not rare I- Could be imitated by anyone N- Could possibly be substituted for services or stock but money would still be necessary 4. Support system V- Helps in staying motivated and on track R- Most people have a support system I- Could be copied N- I don't think this can be substituted 5. Equipment; a computer V- This is necessary for the venture R- Not rare at all I- Yes, it is imitable N- Can't really be substituted 6. Social network V- It is important to...

Venture Concept Write-Up OPPORTUNITY My opportunity is people who would like to have an easier grocery shopping process, and who want to be able to easily plan out their meals to save time and money while shopping for groceries. Why does this need exist? People need a convenient way to manage groceries.   I think a major market for this type of opportunity is college students and young adults and parents, especially people who are busy and feel like they don’t have that much time for grocery shopping and cooking healthy meals. These are also the people who are more likely to be using mobile apps to streamline aspects of their lives. Based on interviews I conducted, I think that currently people who want to plan their meals will find recipe ideas from different sources and come into the store with a list or an idea of what ingredients they’re going to buy, however no one was particularly loyal to this and they were all open to the idea of using an app to make ...