Week 8 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I was surprised by the vast number of sources for capital both specifically mentioned and implied in the chapter.  Prior to reading this, I was not aware that there are so many sources of capital.

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

I didn't find any parts of the reading confusing.  I completed the reading and I understand it all.

3) If you were able to ask two questions to the author, what would you ask? Why?

Is gathering capital necessary for every startup? I don't think it is.

Is it necessary for low costs startups to gather capital? I think there are some low cost startups that can get off the ground without capital. 

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

Not really.  I do think, however, that not every startup needs to seek sources of capital to get off the ground.  I think there are some low cost startups that can get off the ground with very little capital.  

Half-way Reflection

Halfway Reflection:

What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 

This course requires a lot of discipline.  There are a lot of assignments that are continuously due throughout the semester.  The assignments seem repetitive and don’t really seem beneficial.  I have become more disciplined this semester because I am required to consistently work on assignments. This class also requires a lot of writing. Most assignments are blog posts and require a few paragraphs of writing.  I would say that my writing skills have also improved.

Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

I can’t really think of a time where I felt like “giving up”, but there were times I didn’t feel like doing an assignment.  I would say the desire to get a good grade pulled me through.  I don’t think I’ve developed a tenacious attitude during the past two months.  I think I’ve had a tenacious attitude before this class and I don’t really think this class has contributed to my tenacious attitude.

What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset’?

1.     Do your homework everyday.

2.     Don’t forget to “declare” your assignments

3.     Approach the assignments open-mindedly

Week 7 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I thought it was really interesting how the author thought it was better to classify customers in non demographic criteria? Before, marketers used data such as age, income level, and residence area for marketing.  Non-demographic criteria gives marketers more criteria to be successful.

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

I didn't find any parts of the reading confusing. 

3) If you were able to ask two questions to the author, what would you ask? Why?

-This article was written awhile ago, how does it apply to the internet today?

-Marketing is changing rapidly due to technology.  What new ways of marketing should marketers try to better reach potential customers?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

Not really.  I wish the article was more up to date with recent times.  Marketing has changed drastically within the past 10 years and I'd love to see the article reflect that more.

Free Money

• Where will you go?

Turlington and the gym.

• What kind of people will you approach?

People who are walking by.

• What will you say to get the conversation started?

I'll say "hey sorry to bother you".

• What is your plan for the conversation?

Offer them money.

• Out of five attempts, how many dollar bills do you think you will be able to give away. 

0

Reflection:

In my 5 attempts, only one person took a dollar.  Giving away a dollar to strangers was pretty challenging.

Elevator Pitch No. 2

Here is my elevator pitch # 2.  I didn't complete the assignment elevator pitch #1 so I don't have any feedback to go off of yet.  I'm supposed to be reflecting on the feedback I received and the changes I made, but I can't since I didn't do the last assignment. So I don't really know what to put here. Awkward.  Please leave your feedback below so next time I have something to write about.

Thanks.

Parker

Week 6 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I thought the whole article was interesting.  It was interesting to see the emphasis and importance of profits in the industry.  It isn't about who is the biggest, it is about who is the most profitable.

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

The reading did not confuse me at all.

3) If you were able to ask two questions to the author, what would you ask? Why?

I would ask about Porter's background.  It would be curious to see what kind of background the author is coming from.

I would also ask for Porter to list more examples of competition. Examples make it a lot easier for readers to understand what the author is saying and I think using more examples would help Porter get his point across.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

No, I didn't think that there was anything that Porter was wrong about.  It was an interesting read.

"Idea Napkin No. 1"

Idea Napkin No.1

1.)  You: Here is a quick description of my skill set.  As far as business skills I have an intermediate understanding of the major general business concepts such as marketing, management, and public relations.  I also have a strong understanding of Accounting and tax concepts (due to my Accounting major).  As far as technical skills I know how to program in two languages (Swift and JavaScript).  I’ve created and released my own mobile app on the iOS App Store (shameless advertisement – it’s called “A Wizard Game” – Check it out!).  I have a good mix of business and technology skills.  On top of that I have some entrepreneurship experience in my own startup.  I’m pretty good at coming up with ideas and solving problems.  I tend to dive head first into complicated problems.  As far as soft skills I am a leader, a good communicator, and hard working.

2.)  What are you offering to customers?  The product and service that I’m proposing would be a piece of software that would gather data about a location and rate the area’s safety in several categories.  The categories would probably be broken down into three categories: crime, vehicle accidents, and weather risks.  I think this software could be used to produce a safety rating in each category and a combined safety rating for the area. 

3.)  Who are you offering it to?  I’m still deciding whether I would want this to be consumer facing or not.  I could create an app that shows the safety of areas that consumers could use.  Another, potentially more profitable option, would be opening up my software as an API.  This would allow other companies to use my ability to score the safety of an area in their own apps.  For example, gps applications could use this to route people down the safest routes from crime or the safest routes for automobile accidents. 

4.)  Why do they care? People would want to use my API because it’s cool, it could help people be safer, and could help consumers achieve peace of mind.

5.)  What are your core competencies? I mentioned my skills and competencies in the first question.  Another thing that I have that others do not is the drive and determination to actually do things.  Most people are lazy and give up.

Yes I believe these elements fit together.  The weakest part of my business concept is the extent of my idea.  I haven’t fleshed out exactly what I want yet.  I may want to add more or change things later.  I think that this is a cool idea, and I think if it worked well people would use it.  The coolest part about an API is that other people can use it to do cool things.  This API could be used in transportation apps, running apps, house buying or shopping apps, and more.  Pretty much all I have to do is create it, and people will take it and do their own cool things with it.

Week 5 Reading

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

-I found it surprising the number of legal concepts that entrepreneurs have to understand to effectively and legally run a business.

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

-There weren't any parts of the reading that were confusing to me.

3) If you were able to ask two questions to the author, what would you ask? Why?

-What are some ways entrepreneurs can counteract "patent trolls" ? (people who hold patents only to sue others who actually use them) 

-Are there any initial cost differences in starting a different type of company (say S corp vs LLC) ? I know in some states you are required to pay money to register a company.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

-I didn't find anything that the author was wrong about or that I disagreed with him on.  The reading this week was pretty straight forward and his points were more facts rather than thoughts.  He stated facts about laws and the legal challenges facing a startup rather than theories and opinions about entrepreneurship.