30A

The most formative experience would be identifying local opportunities. By identifying these opportunities, it made me understand and realize the problems within my local community, and made me think of ways I could better these issues. The experience I will remember for years to come will be creating my idea. Creating my idea took a lot of thinking and hardwork, as coming up with a business venture is not an easy task. The experience I am most proud of myself is developing the underlying ocncepts and goals for my business venture within this class. By giving purpose and meaning to my idea, it was able to come to life when details were added.

I currently do not see myself as an entreprenuer, however I do see myself as an entreprenuer in the making. I do also  think I have moved closer to develping an entreprenuerial mindset.I believe I have a lot more to learn, and this class has assisted me by introducing me to the tasks and things that go into creating a business. It is far greater than developing a name and getting a business license, but it must be planned out, strategized, fully developed, and more.

The one recommednation I would make to the students who are going to journey down this path in the future, is to take this class seriously, regardless if you see yourself owning your own business or not. This class will prepare you for the business world, business interactions, and will help you understand and respect the goals, time, and dedication of other business owners for this process is not an easy one. To perform best in this course, I suggest that they complete all of the assignments, and not allow themselves the given amount of time (a week) to efficiently and effectively complete these assignments. Take advantage of the extra credit opportunity, and fully read the expectations of this class in the syllabus. To foster this mindset, just simply understand that every college course is meant to assist and enhance your knowledge of the real world.

29A

Innovation/Venture Concept: After understanding and researching my opportunity and target audience, I came up with the idea of Eazy Eatz. Eazy Eatz is a food delivery service that adds variety to the competition. Eazy Eatz will reduce the delivery cost for customer convenience, and regardless of location (within city limits), Eazy Eatz wants to add more restaurant choices. By also creating an app that allows direct communication between the customer and delivery driver, the customer will be able to communicate about specific food orders, adjustments, and more. The customer will be able to choose and track their preferred available driver with automated updates. With these advances Eazy Eatz can bring new competition and provide higher standards to food delivery services.

Summary Feedback: In my feedback, I did not receive much in critiques, but  the one I did receive was making sure that I add a lot of variety to appease to my customers. I added this in my previous concept, however, what I would do is add different city locations to expand the business.

27A

The book I read for my final reflection was The Wright Brothers by David McCullough. I read this book because although I'm not fascinated with planes, the names seemed very familiar. The Wright's Brothers were very inexperienced with planes, however they were dedicated to the process. This surprised me, because most often we associate great inventions with people who are masterminds of their craft, but these two brothers had a great idea and they went after it. I most admire about them, there will power to try even when people doubted their ability. This still applies today, but many people do not take that negativity and persevere through. These two gentlemen, learned, failed forward, and conquered.

I accredit the Wright Brothers with the ability to fail foward. This trait is very admirable, because from their failures came great success.

I was surprised to find out the United States ignored this great invention. The U.S., seems so tech savvy, that I would've expected a push for more research, improvements, and the desire to even have the blueprint for this invention. However, the French were the first to notice.

I would ask, what made them go from owning a bicycle shop to one day inventing a plane? I would also ask, what gave them the strength to persevere through all of the negative critiques of their work and how did it shape their mindset moving forward?

As stated above, their hardwork is admirable. I associated the name with the invention, but I never truly knew the success story.

28A

With this type of business venture, I plan on keeping the business as a family business. There will be always be great advances and technological changes made to make a more fast, efficient, and improved delivery service. However, the need will always be there. If the need isn't the app, I will use to go along with the delivery service can hold great value because of its interactice technoligcal abilities. As long as I am able to continue to advance with the market and not lag behind, if pursued, I would one day like to pass it down.

I have  selected this particular exit strategy, because there is power in ownership and it also a form of residual income for my future family and I.

My decision did not influence my opportunity. I didn't think this far in advance to the future, I was thinking in the now. If my opportunity were to be influenced by my exit strategy, I would have possibly chosen a more predictable, long standing opportunity, that had great opportunities to grow in a field I was more passionate about. However, because I have made my decision to make this business longstanding, my goal would be to grow and hire experts in this field to help me along this journey.

26A

There have been many times I have failed this semester, especially outside of this class. In my Comparative Politics class, I procrastinated on studying, rarely went to discussion sections, and when I realized that I needed to make a change I was already a little over a month in. I began studying, paying attention to lectures, however, I failed my first exam. I took a different apporach, looked up tips on how to study, tried not to procrastinate, even though I found myself falling back into those old habits, and I still ended up failing my midterm, however, with a much higher grade than the first exam. I had to drop the class, because I didn't want to ruin my GPA.

From this moment, I realized that I failed forward. I realized that it took me failing to realize that there was a problem within me I needed to fix, and that when I tried to change, although I didn't get the end result I wanted, I saw the progress that can and will be made from change.

I think failure, if done right, can be very beneficial. It is so easy to get caught up in stressing and thinking you are a failure, however, if you fail forward in anything you do, it can eventually lead to success. I was stressing, because I didn't want to fail. I wanted to be the best of the best even when I wasn't doing what was necessary to accomplish it. But I realized that every failure you have control over in the end. You have the control to change, to realize your mistakes, and you have the power to look at it as a stepping stone and not a hinderance in your future endeavors. Along with life, this class has taught me that there are so many different aspects that will challenge you, and that you won't always succeed at. The business world is a key example of failing forward. One failure can lead to the creation of a masterful innovation. Because of this class, I am more willing to risk it all, for a better end result regardless of the failures that may follow, as long as I learn from them.

25A

Existing Market:

I spoke with a three random people who were very familiar with and actively used food delivery services. I pitched them my idea, and they were impressed and was looking forward to this idea being implemented on the market. When I asked them how do they see this business moving forward with being a highly used product on campus, they said the app was a great idea that set the product apart and would be very beneficial. Their biggest concern were updates, storage space on smart phones, timeliness of messages, and how will this app be beneficial to students who order their food on laptops during class. These concerns were very insightful.

Analyzing the concerns presented to me, I knew in order to create a productive product that used advanced technology I would need to speak with an app designer in the near future. Using their concerns, I want to create an app that does not have too many different components to reduce storage space and create an interactive real time messaging component through the third-party messaging application within the mobile and original sight, but also does not charge for messaging on mobile devices. With any app, there will be updates. I will have to speak with a tech specialist to see how I can make customers want to update when necessary for them to get the full experience of the app.

New Market:

Not wanting to ask people’s financial status on campus, I interviewed two friends who had strict food budgets. I pitched to them my idea and asked them similar questions to that of the previous interviewees. They liked the idea but said that price is a very important factor. Even if delivery prices were reduced and were reasonable and even within their range, many restaurants provided are very expensive.

After listening to their concerns, in order me to appeal to this market, I will need to provide a variety of restaurants, not essentially based on food choice, but also based on price. Having a variety of both will appeal to both markets.

24A

Opportunity: The opportunity I explored for my business venture was in food delivery service. In the delivery service industry, there is such a high demand with little to no varieties of restaurants for customers to choose from when deciding to order their meals. They are restricted and limited to general restaurants and even high delivery fees on top of their food delivery service. My goal was to eliminate this problem. By understanding my target audience/consumer were college students, being one myself, I knew the importance of needing/wanting quality food in an efficient and timely manner.

Innovation/Venture Concept: After understanding and researching my opportunity and target audience, I came up with the idea of Eazy Eatz. Eazy Eatz is a food delivery service that adds variety to the competition. Eazy Eatz will reduce the delivery cost for customer convenience, and regardless of location (within city limits), Eazy Eatz wants to add more restaurant choices. By also creating an app that allows direct communication between the customer and delivery driver, the customer will be able to communicate about specific food orders, adjustments, and more. The customer will be able to choose and track their preferred available driver with automated updates. With these advances Eazy Eatz can bring new competition and provide higher standards to food delivery services.

Three Minor Elements: My ability to work hard, social capital, and the ability to relate to the customers through similar experiences will be the advantage that sets me apart from other customers. To bring this venture to the next step, I will need to do some more demographic research, interview and speak with other restaurant general managers and get their take on providing this service, talk about the pros and cons, and possible successes and failures. For me, I am going to take what I have learned from this experience and set forth to begin my own business or non-profit in the near future. The tools learned from this class is an asset for future endeavors.

23A

1)      Advanced Technology

a.       With the use of advanced technology, I can expand my brand/product as technology persists to change. Because I am in this tech savvy generation, I will be able to keep up with these advances and apply them. Not everyone is able to use or understand the complexities of technology, however, everyone can attempt to learn. This is no substitute for this, because technology is always changing in order to stay relevant and enhance my product this skill is a must.

2)      Adaptability

a.       Having the ability to adapt to new changes that occur locally can benefit my product in the business world. Being able to adjust and make changes that will appease the customer and suppliers, will advance my business forward. Adaptability is not rare; however, many companies are unable to adjust. Anyone can learn to adapt, however, some companies do not know how to properly balance adapting for the sake of the customer and client, while also reaping a benefit.

3)      High Demanding Market

a.       There is a high demanding market for food delivery services, especially in cities with a large number of college students. By understanding this market and appealing to it, this business venture can flourish. There are a variety of large markets for different problems within the community. It is not hard to notice this market; however, it is difficult finding a new and advanced way that works that provides solutions and creates for a profitable product within this market.

4)      Connections

a.       Having a start up company with connections in the very beginning is a plus. Not many companies have connections, and this can hinder their growth. By having connections, you have open access to valuable information, suggestions, and access to other business connections. This is not rare, but many companies get their connections later on in their business career.

5)      Experience

a.       Experience is a key factor. By having experience, you already know some of the basic ins and outs of a business. Because my mom owns her business, I have been exposed to the basics of the business world. Having experience can also create an array of connections that can be beneficial in the later future. Many people do not have experience and jump head first into starting a business. This can be dangerous as you may not know certain steps to take, but it also leaves you open to learn various information about the market and business you are trying to enter. It is not hard or rare to find experience depending on the field you are entering. Many companies are looking for interns who are willing to learn about their business, be an asset, and be a reliable connection for you.

6)      Customer Service Experience

a.       It is not hard to find a job field that is customer service. Many jobs interact with people and clients every day. Having customer service experience, in my opinion, builds character. Understanding both sides of the spectrum can also make you empathize and relate to the customer on a more personal level. You are more driven to take care of their needs in a timely, effective, and efficient manner, because you want it to be reciprocated if you were the customer. Some people do not have this experience; however, they are able to provide great service.

7)      Patience

a.       I believe patience is key when starting a business. It is not something that can be learned but an attribute/characteristic you have obtained throughout your journey in life. A business without patience can self-destruct. There are many businesses who do not experience true broadcasted success (being well known by many) until they are 8+ years into their business. Having patience will allow yourself and your business to grow within its right timing.

8)      Social Media

a.       Having a social media presence is not hard to obtain and many people have access to it, but many people do not maximize their full use of social media. Being able to access social media, using the tips and tools from the book I read, and more, social media can help me expand and reach my target audience better and more efficiently. This can be used to spread information, promote/advertise, and keep my audience up to date on new activities and events associated with my business/product. Social media is key in a day in age where technology is advancing, and everyone has a phone in their hand.

9)      Location

a.       Location is very vital, as you have to market yourself in an area that is profitable. Expanding my business into an area that is highly populated by college students, geographically is the best, as they are always in need of food delivery services. It is not rare for companies to analyze the location of their business, as well as view the competing businesses within your ideal location. You also have to make sure the location/area is safe for customers and employees. It is not hard to copy as there are many companies with the same type of business in the same location; however, no one business is the same and every business provides something different. There are no other resources.

10)   Strong Work Ethic

a.       Work ethic is very important, because the work and time you place into your business will show through your results, if not now then in the near future. Having a strong work ethic is rare in certain aspects. Many people start something and do no finish it. Strong work ethic can also be overshadowed by laziness and procrastination. Anyone can work hard, but the length of time that lasts is inimitable. There is no exception to strong work ethic. If you are not the specific person with a strong work ethic in your business, there is someone else behind the scenes putting in the extra work to make your business successful.

I believe strong work ethic is very important. People are not always going to be able to see your vision and understand the love and reasons on why you were birthed with this vision. Because others are most times not able to see this, they will not give 100%. However, having strong work ethic within yourself can help expand, advance, and push your business towards success. Strong work ethic/hard work beats talent when talent does not work hard.