30A Final Reflection

I have had a lot of fun with this class. It has opened a new way of thinking about customers and found it very fun to think of solutions. One of the assignments I found to be somewhat of drag was the unfair advantage. It was somewhat tedious but not a bad assignment. All others I had a blast doing. I think the most memorable experience I will have with this class is the elevator pitches. I had a blast doing those. I found myself trying to perfect my pitch along with having a good time with them. It was interesting to watch others pitch their ideas. All the pitches were different and unique. I am very proud of my pitches and think they were my best work in this class.

From the start of the class, I think I have developed more of an entrepreneurship mindset. Going in I have always had a business mindset but I never thought of having the customer's viewpoint. I have learned the importance of knowing the customer's unsatisfactions along with their needs. It is important for a product to satisfy a need and I have learned the importance of that through this class.

My recommendation for students for this class is to stay on top of assignments. It can be very easy to lose track of time and miss an assignment. I never had this problem but the one thing I struggled with was the cupcakes. Watch the lectures and be prepared for them. Take good notes is the key! If you do not procrastinate and keep up with lectures. This class is an easy A. To get that entrepreneurship mindset, you must be open to learn and portray yourself as the customer. It is important to understand the customer's want more than your own. 

29 Venture concept 2

Opportunity

The opportunity of my idea is to focus on cities like Gainesville who have strict laws on plastic straws. As most know, Gainesville has a ban on plastic straws. There is a huge market for paper straws but most know how inferior they are to plastic straws. The only benefit of paper straws is that they are good for the environment. My product would capitalize on the need of companies and regular customers who want the best of both worlds. My biodegradable plastic straw would not only be good for the environment, but it would also be stronger, longer-lasting, a superior in every aspect of paper straws.

Innovation

My innovation is biodegradable plastic straws. As stated before, nothing is worse than a straw that falls apart or breaks in half as you put it into a lid. My biodegradable straw would be strong and long-lasting like a normal plastic straw but be good for the environment like paper straws. They currently make them but they are not used anywhere in Gainesville. I believe my product could be sold at smoothie places and other similar places to appeal to companies that want higher customer satisfaction.

Venture Concept
Customers and big companies would buy my product because it is superior in every way to a paper straw. A straw that dissolves in a drink is no straw to me. People find that paper straws are awful for smoothies and milkshakes because they do not hold up. My product would not be cheaper, it would serve as a premium to paper straws because it is more durable and will serve a better experience. People will pay for my product because it is superior.

Three Minor Elements

The advantage I would have over companies is that I am the first to market the idea. I would consider my marketing my "secret sauce". People are unaware of the product and if I brought it to these companies and people's attention. My marketing could bring awareness to the product and they would want to buy it from me. I firmly believe that it is innovative to sell to cities with strict laws on straws because the market is so small yet dense. After targeting big corporate companies in places in plastic straw bans, I would focus on all companies to maximize profits. After a couple years I would like the business to run itself or sell it. I would like to move on to another project. I get bored quickly with most things I do and have to do new things to keep myself interested.

Feedback

The feedback I got was very supportive and reinforcing. People agreed with me and I am glad to see my product is well thought out. I have spent lots of hours planning my project and I think it could take off it I put forth the effort. Most people are unaware of biodegradable straws and I believe we could bring it to the market successfully. There was a lot of support to sell to restaurant chains. I think it is important to have big customers because they could be what my company heavily relies on.

Changes
I listened to my feedback and it led me on focusing heavily on who to sell my product too. My feedback was very supportive but not I would not consider it constructive criticism. I appreciate all the support but I did not change much because my feedback was so minimal. I changed my elements but not much more passed that. I am proud of my venture concept.

28A Exit Strategy

1.) I personally find myself running my business for a couple years and then just selling it. I get bored with projects very quickly and do not find myself having a long term interest in my business.

2.) I selected it because I want to explore more business ventures and make money before the company fails. Yes, it could succeed more but I rather not risk it.

3.) I do not think my exit strategy influenced my opportunity. I identified a problem and wanted to take advantage of a market that wasn't there. I think it would grow normally and stay uninfluenced. I think it would only change the overall attachment I would have to the company.

27A Reading Reflection 3

1.) The general argument for the book, The Art of Social Media: Power Tips for Power Users by Guy Kawaski is that social media is an important aspect for all business and we must capitalize on it. If not, we are losing a big part of the market.

2.) It connects well with ENT3003 because it thought me the importance of taking advantage of tools around me. I can better myself and the company by using social media. Everyone uses social media.

3.) The exercise for the class would be to have everyone make social media accounts and have an event-based off of only social media invites. Then have another one where people must personally invite people and compare the outcome difference. I personally think social media will have a higher turnout. It would show the power of social media.

4.) I think what I found most interesting when reading the book was the most active time to post. It makes sense but most businesses should take advantage of when everyone is online and they do not. I personally think my business could thrive in the social media department.

26A Celebrating Failure

1.) I am taking marketing this semester and found myself struggling to keep up with the first exam. The first exam comes around and I do not do so hot. No great but not what my standards are. I felt as if I did not study enough and was unprepared.

2.) I learned I must not procrastinate and study efficiently to do well. I must focus on the end goal and take the necessary steps.

3.) I felt disappointed and upset with myself. I knew I could have done better and pushed myself harder on the next one which I did better on. It taught me that it is okay to fail as long as I grow from it. It takes time and effort to grow and I think failing an exam is okay as long as someone works hard for the next one. This class has taught me the importance of hard work and dedication. I would not take the risk of procrastinating because I learned from my mistakes.

25A What next?

Existing Market

The existing market is very limited to none. The market is strictly paper straws because there is no competition. I believe my product could compete and even outsell paper straws if it marketed enough. My product would speak for itself.

My product would heavily compete against paper straws because they are stronger and longer-lasting. Paper straws dissolve and are flimsy compared to biodegradable straws. My straws would be more expensive but it would be justifiable. Premium products are never cheaper and my product is good for the environment while offering the benefits of plastic straws. Our biggest potential customer would be restaurants and customers who hate paper straws and want a true fix to the problem. I would distribute my product to them. The market needs more diversity and I would be willing to compete in it.

New Market

The market I tend to target is cities with strict laws on straws. The new market that I could focus on is all restaurants. Most companies are moving towards becoming more environmentally friendly and my product could help with that movement. I could campaign that we care for the environment and donate for efforts to help the environment after we hit a certain sale mark.

In this new market, I would focus more on big corporations. This would help establish bigger sales while also attaining the long term goal of helping the environment. If any corporation like McDonald's or any like that would work with me. My company would easily succeed in this new market. It is no easy task but I firmly believe it could be done.

I've learned that to emerge into the new market we must be open and forward-thinking. It is important to focus on bigger corporations as our company gets bigger. We must adapt to the market and it is important to do so.

24A Venture Concept

The opportunity of my idea is to focus on cities like Gainesville who have strict laws on plastic straws. As most know, Gainesville has a ban on plastic straws. There is a huge market for paper straws but most know how inferior they are to plastic straws. The only benefit of paper straws is that they are good for the environment. My product would capitalize on the need of companies and regular customers who want the best of both worlds. My biodegradable plastic straw would not only be good for the environment, but it would also be stronger, longer-lasting, a superior in every aspect of paper straws.

My innovation is biodegradable plastic straws. As stated before, nothing is worse than a straw that falls apart or breaks in half as you put it into a lid. My biodegradable straw would be strong and long-lasting like a normal plastic straw but be good for the environment like paper straws. They currently make them but they are not used anywhere in Gainesville. I believe my product could be sold at smoothie places and other similar places to appeal to companies that want higher customer satisfaction.

Customers and big companies would buy my product because it is superior in every way to a paper straw. A straw that dissolves in a drink is no straw to me. People find that paper straws are awful for smoothies and milkshakes because they do not hold up. My product would not be cheaper, it would serve as a premium to paper straws because it is more durable and will serve a better experience. People will pay for my product because it is superior.

The advantage I would have over companies is that I am the first to market the idea. People are unaware of the product and if I brought it to these companies and people's attention. My marketing could bring awareness to the product and they would want to buy it from me. I firmly believe that it is innovative to sell to cities with strict laws on straws because the market is so small yet dense.

23 Unfair Advantage

1.  Determination

• V- Yes, very valuable in the business world.
• R- Not too rare but necessary for a business.
• I- Can be copied but requires a lot of effort.
• N- Can not be substituted

2. Charismatic

• V- Yes, very needed to sell a product
• R- Not common, but helps persuade
• I- Hard to copy, more of a natural aspect of a person.
• N- Hard to substitute

3. Respectful

• V- Helps get clients and customers
• R- Common but necessary
• I- Can be, but not practiced much
• N- Necessary and can not be substituted

4. Honest

• V- Wanted and valued
• R-  Not common
• I- Companies try but fail
• N- No, nothing can replace it

5. Gainesville Restaurant Owner connection

• V- Very crucial
• R- Not rare but necessary
• I- Yes with effort
• N- No, connections can not be substituted

6. Adaptive

• V- Needed
• R- Not rare but necessary
• I- Can be but not as much as I can be
• N- No, must innovate to stay ahead of the curve

7. Organized

• V- Yes, shows people you are serious
• R- Somewhat, companies fail to be organized
• I-Yes, but many companies do not do it
• N- No, companies that are efficient are organized

8. Creative

• V- Yes, very needed in any company
• R-Yes, companies do not tend to have it
• I- No, can not be copied
• N- Can not be substituted

9. Loyal

• V- Customers love loyalty
• R- Yes, companies only care about money
• I- Few companies do it
• N- No, people want loyalty

10. Independent

• V- Yes, people want someone they can count on
• R-Yes, companies depend heavily on others
• I- Somewhat, most companies depend on too many others
• N- No, can not be replicated

After looking at all my resources, I would say my connection to restaurant owners would be most important. Without these big businesses and other customers, my product could not succeed. This connection would help keep my business afloat at the start as I find more clients.

21A Reading Reflection 2

1. In, "How to Almost Fail at Everything and Win Big" by Scott Adams is about the failures that Scott Adams faced yet his ability to overcome them. Scott Adams was a very successful cartoon artist at a young age and experienced several failures before his career took off.

2. The book helped me connect and enhance with ENT3003 by expressing the importance of making systems and routines in life. Adams believed that goals were not enough. Systems and routines are something that helps keep us on track along with making us more organized and hardworking.

3. If I had to design an exercise based on the book to help the class learn I would make them right down on one side of the paper what they have failed at doing before. Then on the other side, make them write down what they did after their failure. It would make people realize that they could not succeed without failure and show that experiences help them perfect their flaws.

4. I think what surprised me the most is that someone who was a cartoon artist that worked hard enough became a CEO through his success. It was interesting to learn about his careers and experiences and he shows that hard work can get you anywhere in life if you push yourself hard enough.

22A Elevator pitch 3

Hey guys, here is my third elevator pitch on biodegradable plastic straws.

https://drive.google.com/file/d/1raI-x-lYmoptytvC5Yo1jPPrnmGc1rN0/view?usp=sharing

I personally have found my feedback as encouraging and important to me. I find that my product has slowly transformed into the best one I can sell. I find it very easy to record these and have a fun time with them. I have not necessarily changed the product but I have focused more on how I have tried to sell it. I am trying to sell it as a "premium" to paper straws.