The book I chose is The Long Tail by Chris Anderson. I chose this book because I thought his theory of the long tail was super interesting. Basically the theory of the Long Tail says that our current culture and economy is moving away from the really in stuff ( or the head of the demand) and moving towards a the little fads in the tail. Anderson argues that products and business's that are not as popular can come together and build a better market share than bigger companies. The long tail anderson gives examples of Amazon, Apple and Yahoo!. Those business use the long rail startegy. I never really thought about how different business collectively getting together can be a much stronger business but I always heard about business's collabertating together to stop being competitive. I loved reading this book and learning something new! I suggest everybody read this if they are serious in the entrepreneur business.
Sunday, July 31, 2016
My Final Reflection
1) Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.
I had a lot of ups and downs during this class but all in all it was a great learning experiencing and I am glad I took it over any other class. I loved doing the assignments where we had to talk about our own ventura concepts and explain why we came up with it and what was great about it. I also thought the bugs list we did at the begining of the class was super fun and brought me back down to earth because I saw how many little things bother me. I did not like doing interviews maybe if I had more time I would like it but I was always struggling for time to do those.
2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?
I think the experience I will remember most is how hard it is to form a ventura cocept and how much work it takes to develop one. My most joyous experience was being able to hear all the inspiring comments people posted on my blogs. I am most proud of finishing up my ventura concept.
I think the experience I will remember most is how hard it is to form a ventura cocept and how much work it takes to develop one. My most joyous experience was being able to hear all the inspiring comments people posted on my blogs. I am most proud of finishing up my ventura concept.
3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?
I definitely think I view things differently now and developed an entrepreneur mindset. I have always grown up with several entrepreneurs in my family and they have taught me a lot but I have acquired a great deal of knowledge in this class.
I definitely think I view things differently now and developed an entrepreneur mindset. I have always grown up with several entrepreneurs in my family and they have taught me a lot but I have acquired a great deal of knowledge in this class.
4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?
I would say to keep on top of the assignments they come and go so quickly. Write it in your calendar or put it in your phone but just make sure you get the assignements done. I also think that the main purpose of this course is to have fun while gaining knowledge on being an entrepreneur so have fun!
I would say to keep on top of the assignments they come and go so quickly. Write it in your calendar or put it in your phone but just make sure you get the assignements done. I also think that the main purpose of this course is to have fun while gaining knowledge on being an entrepreneur so have fun!
Saturday, July 30, 2016
Friday, July 29, 2016
My Exit Strategy
1. Although my exit startegy is not something I have thought about I do have one now. I think for me deciding whether to sell my business or keep would have to depend on how much money I am making from it and how much work I am putting into it and if the work is worth the money. I don't think and exit startegy is something you can just decide it is something you have to think about for a while and talk to people about. I think if I was making good money and did not have to work more than usual for my company then I would definitely love to pass it down to my family. If my work load is inusual for how much money I am making from the company then I would definitely try to sell it for a profit.
2. I did not specifically choose an exit strategy but in the above paragraph I explain why I would choose either of the exit strategys I talk about.
3. I think the exit strategys do not really have much affect on my concept because my cliental is so specific and if they need it they will buy it and spend the money. I think it influenced how I want to grow and definitely the intentions I would love to give it to my family but I will not be upset if I under certain circumstances could not do it.
2. I did not specifically choose an exit strategy but in the above paragraph I explain why I would choose either of the exit strategys I talk about.
3. I think the exit strategys do not really have much affect on my concept because my cliental is so specific and if they need it they will buy it and spend the money. I think it influenced how I want to grow and definitely the intentions I would love to give it to my family but I will not be upset if I under certain circumstances could not do it.
Monday, July 25, 2016
Celebrating Failure
Failure:
I feel where I have failed in this class is not getting assignments done in time for the due date. Mainly the assignments were interview assignments because for me it was hard to find the time to interview people and then find a way to post it because my computer is difficult with voice recordings.
Learning Experience:
The learning experience that I got from my failure is that I have to keep up with stuff to fully understand and get the most out of the topic or class it is in. You do not get the full learning experience in the class if you miss a few assignments. I also learned how to better organize my time and that I have to keep stuff in a calendar that the only way to keep track of everything when your busy.
Reflection:
I believe that everything happens for a reason and that missing certain assignements made me work arder on the ones I did do so it made those assignments stronger. I also realized that I could do the work I just have to prioritize my time. You dont realize how quickly time hand days sleep through your fingers. I belive that I have learned a lot of useful real life tips. I feel this class did give me a new view of failure that I should not be afraid of it because you never know if something good will come of it. I am glad I took this class as one of the classes to end my last year of college with.
I feel where I have failed in this class is not getting assignments done in time for the due date. Mainly the assignments were interview assignments because for me it was hard to find the time to interview people and then find a way to post it because my computer is difficult with voice recordings.
Learning Experience:
The learning experience that I got from my failure is that I have to keep up with stuff to fully understand and get the most out of the topic or class it is in. You do not get the full learning experience in the class if you miss a few assignments. I also learned how to better organize my time and that I have to keep stuff in a calendar that the only way to keep track of everything when your busy.
Reflection:
I believe that everything happens for a reason and that missing certain assignements made me work arder on the ones I did do so it made those assignments stronger. I also realized that I could do the work I just have to prioritize my time. You dont realize how quickly time hand days sleep through your fingers. I belive that I have learned a lot of useful real life tips. I feel this class did give me a new view of failure that I should not be afraid of it because you never know if something good will come of it. I am glad I took this class as one of the classes to end my last year of college with.
Sunday, July 24, 2016
Venture Concept No.1
Opportunity:
The opportunity that I have identified was finding a way to make going out on the water less of a hassel and more of an enjoyment! Being that I go fishing a lot and diving a lot I know how hard it is to come back and get ready to dock your boat as well as docking it. There is a huge market for boats that are less work because every hard working fisherman or diver knows how annoying it is when you get back and all you want to do is get off the boat and go to sleep. Obviously a self docking boat is not a necessity but it would be a great treasure a lot of people do not realize how exhausted you get on the water. There are so many boats that have different bells and whistels and a lot of people are willing to pay money for it as long as its something that will make them more money, save them time, and make their day out on the water more enjoyable. I have been on several different boats where they will be trying to dock and its very hard to dock in between two boats so my self docking boat would be súper handy in that situation. I have looked up to see if they have anything similar online of a self-docking boat but I have not found anything I did find a house that mixes soap and water that helps wash the boat faster and people have seemed to respond to it well. Their comments all said it saved them time that they could spend on the water fishing or diving. My Innovation is an add on to an exisiting product. My product docks the boats for you and popa the bumpers out of the boat so you dont hit the dock and scratch you boat. I am not sure yet on the price of my product but after building it and seeing how it will be attached to a boat I would see the right price range I should use.
The Self- Docking boat will help give people who love to be out on the water a more enjoyable and less of a hassel time. Customers will pay money for this product because they could make more money and have more time on the water. My product would not have any competitiors because this is the first tupe of boat like this from what I have seen with my research. I think my product has really strong opportunity because of the clientel I know and would have plus it is a very convinient product.
The opportunity that I have identified was finding a way to make going out on the water less of a hassel and more of an enjoyment! Being that I go fishing a lot and diving a lot I know how hard it is to come back and get ready to dock your boat as well as docking it. There is a huge market for boats that are less work because every hard working fisherman or diver knows how annoying it is when you get back and all you want to do is get off the boat and go to sleep. Obviously a self docking boat is not a necessity but it would be a great treasure a lot of people do not realize how exhausted you get on the water. There are so many boats that have different bells and whistels and a lot of people are willing to pay money for it as long as its something that will make them more money, save them time, and make their day out on the water more enjoyable. I have been on several different boats where they will be trying to dock and its very hard to dock in between two boats so my self docking boat would be súper handy in that situation. I have looked up to see if they have anything similar online of a self-docking boat but I have not found anything I did find a house that mixes soap and water that helps wash the boat faster and people have seemed to respond to it well. Their comments all said it saved them time that they could spend on the water fishing or diving. My Innovation is an add on to an exisiting product. My product docks the boats for you and popa the bumpers out of the boat so you dont hit the dock and scratch you boat. I am not sure yet on the price of my product but after building it and seeing how it will be attached to a boat I would see the right price range I should use.
The Self- Docking boat will help give people who love to be out on the water a more enjoyable and less of a hassel time. Customers will pay money for this product because they could make more money and have more time on the water. My product would not have any competitiors because this is the first tupe of boat like this from what I have seen with my research. I think my product has really strong opportunity because of the clientel I know and would have plus it is a very convinient product.
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