ENT3003

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 am proud of finishing a business concept in such detail. Usually, in past innovation courses, business models are changed after a few weeks to a new assignment. However, this was going into more detail on the same idea.  At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset? Yes, I learned more about hoe to think of different markets, and how the product might succeed or fail with that demographic. I also learned more about the different aspects which go into the business- like changes, supply markets, and exit strategies. What is the one recommendation you would make ...

My innovation is the Fruit Calendar. It is a magnetized calendar that includes smaller magnets which have images of different fruits. It also has a key on the side that lists how long each fruit lasts for, so people don’t have to guess when it expires and throw it away too early, or wait too long until the food is expired. People then are able to place the magnet of the fruit on the date it was bought, and slide the magnet until the expiration date. This lets them see, each time they walk into the kitchen, what fruits they have and when they will expire. It will sell for $15, with the accessories of the smaller magnets included. This opportunity is created by people having various things to remember, and forget the food they bought and placed in the fridge, where it is out of sight. It affects all of t hose who grocery shop themselves or have a diet predominantly of fruits are faced with their fresh fruits constantly expiring before they have a chance to eat them. This includes youn...

Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children? I intend to sell the business for a large return. 1)     Why have you selected this particular exit strategy? It is a simple business model, and will not require much time to start-up, develop, or produce. As such, it will not be difficult to sell the simple product and business concept. 2)     How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources? It influenced my business model to remain as simple as possible. There was no addition of technology or separate piece...

You read about an entrepreneur: Steve Jobs, Walter Isaacson What surprised you the most? I was surprised to learn that Steve Jobs was adopted. His adoption was also closed, and it “would be twenty years before” his birth parents saw him again (pg, 410). What about the entrepreneur did you most admire? I most admired how he set out to “create a company that was so imbued with innovative creativity that it would outlive” him (pg, 305). He had his focus, and managed to create that vision. What about the entrepreneur did you  least  admire? I least admired his personal life, especially learning that “Jobs would father and abandon a child of his own” (pg. 422). Did the entrepreneur encounter adversity and failure? If so, what did they do about it? Yes, he did encounter adversity, especially as he was developing not “modest product advances based on focus groups, but whole new devices and services that consumers did not yet know they needed” from his par...

1)     Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time.  This past semester in ENT3003, I failed at the start. On the second week, I had forgotten that the “12” in canvas deadline was not midnight, as I was used to with my other courses, but noon. After my classes, I finished the four assignments and once I went to submit, I saw the assignment was locked. I then did the parts C to try and get some points, but as my part A was not submitted, I also did not receive points. 2)     Tell us what you learned from it.   I learned to do my assignments earlier and check the deadlines repeatedly. 3)     Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change...

Existing Market.  Talk about what you think is what's next in terms of products and services for your venture. Next for my product would be an expansion for different kinds of foods, or one that also includes how many of the fruit you have left. This would be the same concept of a magnetized calendar, simply with different accessories. Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market. To grow my existing market, I would also include different types of food. Some people do not eat fruits, but prefer vegetables. This would necessitate different magnet images and a different key. New Market. Identify a radically different market from what you're currently planning to target. If you're currently targeting B2B, think about going after a B2C market. If you're currently targeting an afflu...

Those who grocery shop themselves or have a diet predominantly of fruits are faced with their fresh fruits constantly expiring before they have a chance to eat them. This opportunity is created by people having various things to remember, and forget the food they bought and placed in the fridge, where it is out of sight. It is especially affecting young people who just moved out, like college students, as they still are not used to having to go grocery shopping themselves. They are also not knowledgeable as to how long a fruit might last, as they did not have to pay attention before. For those who are older, this problem still exists, although they might have more success in remembering to check the fruits before they expire since they have more experience with food. This market is not defined geographically, as it is dependent on having fruits in their diet. It is not restricted to any district or area. The demographics of the customer are not restrained either. It is not largely c...

1.      Human Capital: Experience with product design a.      Valuable as I can refer back to other projects in Innovation to see how I completed those, what same problems I had, and what I learned from it. It is rare, since not everyone has had experience with having to create a product. It is non-imitable as experience cannot be mimicked. It is substitutable by employing another person who does have design to lead, but the experience itself is non-substitutable. 2.      Human Capital: Experience with supply chain study a.      Valuable as I can go back to lessons and see how the supply chain would come into play after my product. Not rare, as businesses would have to look into this to make a profit and sell their product. It is non-imitable, as having no experience will show. It is non-substitutable, since experience and knowledge cannot be substituted. 3.      Human capital:...

Inbound Marketing: Brian Halligan 1)     What was the general theme or argument of the book? The book’s general theme was to make your business and all which represents it unique, memorable, and redefine the market to best suit your needs. Halligan writes “ask yourself whether your product or service is worthy of other people’s ‘remarks’”, to “stand out by becoming as remarkable (unique and valuable) as possible to a segment of buyers”, even if you have to “redefine your market more narrowly before one of your competitors takes that positions” (2014) 2)     How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003? The book spoke of how to best market your product to the audience while still differentiating from the competition. In ENT3003, creating a new product that would reasonably have value to customers for them to buy and use it is a vital part of the course. The author recommends to view the “unwritten r...

The Pitch: https://youtu.be/V54fNDbhKaU I received positive feedback from my last pitch, and stayed with my value proposition as well as my statistics to frame why it is a problem. I added more detail into how the product would work, however. The pitch is almost memorized, and although I remain with the same notes, I know what has changed. I also know how to set up and present better.