Ray Kroc, Grinding it Out: The Making of McDonald's
1) What surprised you the most?
Ray Kroc worked for McDonald's until the day he died.
What about the entrepreneur did you most admire?
I admire his business philosophy. An example of this is a quote where he said "If I had a brick for every time I repeated the phrase "Quality, Service, Cleanliness and Value", I think I'd probably be able to bridge the Atlantic Ocean with them."
What about the entrepreneur did you least admire?
I did not admire that he valued consistency rather than meat quality and health.
Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
Ray Kroc was faced with many challenges but persevered. He was not happy with the formulas of the McDonald brothers so he bought them out and took control.
2) What competencies did you notice that the entrepreneur exhibited?
He definitely embodied drive. He did not let anyone slow him down, he knew what he wanted and had big dreams he knew he would accomplish. He had a brilliant sales and marketing mind.
3) Identify at least one part of the reading that was confusing to you.
I was confused to learn that the McDonald brothers cared less about the business than Ray Kroc did. He had much bigger aspirations for McDonald's than they did.
4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?
I would ask how he knew that McDonalds would be successful I would also ask why he didn't just start his own business when he started clashing with the brothers. I would ask these because it intrigues me.
5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?
I definitely think Ray Kroc can attribute his success to hard work so he definitely reveres the quality. I do share that opinion.
Friday, 5 August 2016
Venture Concept No. 2
The need that I see as my opportunity is people who want to be healthier and do not get enough nutrients. This market ranges all ages and demographics. There is a small portion of people satisfying this need because it is hard to be healthy and get all the daily nutrients you should be getting. I think the opportunity is big and it will be open for as long as people care about their health.
It is a fruit and vegetable popsicle with nutrients and vitamins that you should be consuming daily. It is delicious and can be ordered in bulk and sold to hospitals and doctors offices or in smaller packaging to be sold at Whole Foods and other grocery stores. Depending on the size of the package the price will vary, I am still researching the best price.
My innovation will help the people in my opportunity segment by giving them a delicious and easy way to get nutrition. I think customers are already on the browse for delicious and healthy snacks. My competitors are the smoothie health craze going on right now. Their weakness includes no variation, they just do smoothies. Packaging, price, distribution, customer service are huge in defining my success in this business concept. My business would be small and focused on customer service and continued innovation. This will ensure we stay alive and keep thinking of new opportunities.
The feedback I received made me refine what I truly wanted out of this concept and made me think about what I should be accomplishing.
Final Reflection
1) After reading through my blog from this semester I have come to the conclusion that I had a lot of ups and downs. The times I dreaded the most were the interviews. I did not mind the reading reflections. I liked getting to see other's blogs.
2) What sticks out to me is my perseverance. In the beginning I struggled with assignments but by the end I just pushed through. I am proud of myself for this.
3) I think I am closer to developing an entrepreneurial mindset.
4) I would recommend that students schedule time to dedicated to this course and to try your best and push through.
2) What sticks out to me is my perseverance. In the beginning I struggled with assignments but by the end I just pushed through. I am proud of myself for this.
3) I think I am closer to developing an entrepreneurial mindset.
4) I would recommend that students schedule time to dedicated to this course and to try your best and push through.
Monday, 1 August 2016
Exit Strategy
I plan in selling the business for a large profit within 10 years of it launching.
I chose this because I would like to move on and not stick with the same thing my whole life. I believe change is good.
I think this effected my choices so far because I have not been thinking very long term and I have been playing with other ideas.
I chose this because I would like to move on and not stick with the same thing my whole life. I believe change is good.
I think this effected my choices so far because I have not been thinking very long term and I have been playing with other ideas.
Sunday, 24 July 2016
Celebrating Failure
This past semester I had to drop a course because I wasn't prepared for it to be as challenging as it was. I was embarrassed but I just prepared to take it the next semester and I know I will do better. I learned to not underestimate classes and to try your best at everything. This class has made me think about failure in a more positive light.
What's Next
Existing
My potential customers and I think that the next step would be an at-home formula to make popsicles at home. Based on the interviews I conducted and my thoughts on the business this would be profitable and easy to market since things these days are all about the convenience of home.
New
The market I am not planning on targeting is people who don't wish to be healthy. I think I could make a chocolate or other flavor but still put healthy stuff in it as a kind of hidden bonus so people who aren't looking for something healthy could buy my product. Based on my interviews this isn't the most attractive market for me to pursue. People who don't want to be healthy see healthy options as embarrassing.
My potential customers and I think that the next step would be an at-home formula to make popsicles at home. Based on the interviews I conducted and my thoughts on the business this would be profitable and easy to market since things these days are all about the convenience of home.
New
The market I am not planning on targeting is people who don't wish to be healthy. I think I could make a chocolate or other flavor but still put healthy stuff in it as a kind of hidden bonus so people who aren't looking for something healthy could buy my product. Based on my interviews this isn't the most attractive market for me to pursue. People who don't want to be healthy see healthy options as embarrassing.
Venture Concept No. 1
The need that I see as my opportunity is people who want to be healthier and do not get enough nutrients. This market ranges all ages and demographics. There is a small portion of people satisfying this need because it is hard to be healthy and get all the daily nutrients you should be getting. I think the opportunity is big and it will be open for as long as people care about their health.
It is a fruit and vegetable popsicle with nutrients and vitamins that you should be consuming daily. It is delicious and can be ordered in bulk and sold to hospitals and doctors offices or in smaller packaging to be sold at Whole Foods and other grocery stores. Depending on the size of the package the price will vary, I am still researching the best price.
My innovation will help the people in my opportunity segment by giving them a delicious and easy way to get nutrition. I think customers are already on the browse for delicious and healthy snacks. My competitors are the smoothie health craze going on right now. Their weakness includes no variation, they just do smoothies. Packaging, price, distribution, customer service are huge in defining my success in this business concept. My business would be small and focused on customer service and continued innovation. This will ensure we stay alive and keep thinking of new opportunities.
·
Sunday, 17 July 2016
Elevator Pitch No. 3
https://youtu.be/P8bIDxW18T4
I got helpful feedback that told me I should annunciate more, not laugh, and stand up straighter.
I tried not to laugh and take it more seriously as if I was actually giving the speech.
I got helpful feedback that told me I should annunciate more, not laugh, and stand up straighter.
I tried not to laugh and take it more seriously as if I was actually giving the speech.
Amazon Whisperer
-I make money by having a delicious and nutritious popsicle. I offer excellent customer service as well.
-I could offer a special at home blending mix and popsicle kit.
-It would enhance my existing product because they go hand in hand and could be fun for customers to make their own.
-This is a smoothie mix.
-
-Customers say they like the product and it gives them energy and does not taste bad. It is a 4 star product.
-I would make it taste better and focus more on nutrients than protein.
-I think this would make an awesome addition to my product mix because at home mixtures are all the rage right now. It is convenient and a way to get your name product in homes.
-I could offer a special at home blending mix and popsicle kit.
-It would enhance my existing product because they go hand in hand and could be fun for customers to make their own.
-This is a smoothie mix.
-
-Customers say they like the product and it gives them energy and does not taste bad. It is a 4 star product.
-I would make it taste better and focus more on nutrients than protein.
-I think this would make an awesome addition to my product mix because at home mixtures are all the rage right now. It is convenient and a way to get your name product in homes.
My Unfair Advantage
1. Boldness
Boldness is a quality necessary to have when starting a business. This is something you either have or you don't so others cannot copy this quality as easily.
2. Rational
This is necessary to have when starting a business to make smart decisions. People can try to copy this quality.
3. Perceptive
This is a helpful quality to have in order to work with people.
4. Sociable
This is good to have for customer relations and supplier relations.
5. Fruits and vegetable knowledge
I need to gain this.
6. Marketing knowledge
When I finish my education as a marketing major I will have this.
7. Business mindset
I have always thought of things with a business perspective.
8. Customer service oriented
Definitely a needed aspect of starting a business.
9. Networking
I need to start networking with people and stay in that mindset.
10. Nutrition knowledge
I need to gain this so I can be better at creating the product.
My top resource I think would be nutritional knowledge so I can create a product that is what I want it to be.
Boldness is a quality necessary to have when starting a business. This is something you either have or you don't so others cannot copy this quality as easily.
2. Rational
This is necessary to have when starting a business to make smart decisions. People can try to copy this quality.
3. Perceptive
This is a helpful quality to have in order to work with people.
4. Sociable
This is good to have for customer relations and supplier relations.
5. Fruits and vegetable knowledge
I need to gain this.
6. Marketing knowledge
When I finish my education as a marketing major I will have this.
7. Business mindset
I have always thought of things with a business perspective.
8. Customer service oriented
Definitely a needed aspect of starting a business.
9. Networking
I need to start networking with people and stay in that mindset.
10. Nutrition knowledge
I need to gain this so I can be better at creating the product.
My top resource I think would be nutritional knowledge so I can create a product that is what I want it to be.
Sunday, 10 July 2016
Reading Reflection No. 2
Inbound Marketing by Bryan Malligan
2. It connected with what I'm learning in this class because we talk about marketing and how important it is a lot and how you have to have a solid idea to be successful despite how great your marketing can be.
3. My exercise for a class would be to create a social media platform to increase awareness.
4. My biggest 'aha' moment was when they talked about how inbound marketing is a way to analyze and connect with your customers because I thought of it as one sided when really it is a two way street of communication of wants and expectations.
Growing my Social Capital
James Byron
1. James is a farmer.
2. Important supplier.
3. I approached his fruit and vegetable stand and got his number.
4. He said he would be interested in supplying me if I had a real business plan.
5. This would be so important to my business because I need fruits and vegetables to make my product healthy.
Danny Morrison
1. Danny is the chef at a restaurant.
2. Mr. Morrison is an expert in the food industry.
3. I arranged to meet him after his shift and pick his brain.
4. I told him about my plan and if he had any advice.
5. I could use him as a consult or possible investor.
Lisa McNally
1. Lisa is a nurse at a hospital.
2. Market expert.
3. I met up with her after her shift in the oncology center.
4. I asked her about the people going through chemotherapy and if she thinks there would be enough demand for healthy popsicles.
5. I could use her as an advertiser/ word of mouth at her hospital to spread the word about my popsicles.
Reflection:
I will be less shy to participate in networking events now having experience talking to more prestigious people. I realize they just want to help young aspiring entrepreneurs like myself so I should approach them. I have not really had experiences like this in the past so it definitely differed.
1. James is a farmer.
2. Important supplier.
3. I approached his fruit and vegetable stand and got his number.
4. He said he would be interested in supplying me if I had a real business plan.
5. This would be so important to my business because I need fruits and vegetables to make my product healthy.
Danny Morrison
1. Danny is the chef at a restaurant.
2. Mr. Morrison is an expert in the food industry.
3. I arranged to meet him after his shift and pick his brain.
4. I told him about my plan and if he had any advice.
5. I could use him as a consult or possible investor.
Lisa McNally
1. Lisa is a nurse at a hospital.
2. Market expert.
3. I met up with her after her shift in the oncology center.
4. I asked her about the people going through chemotherapy and if she thinks there would be enough demand for healthy popsicles.
5. I could use her as an advertiser/ word of mouth at her hospital to spread the word about my popsicles.
Reflection:
I will be less shy to participate in networking events now having experience talking to more prestigious people. I realize they just want to help young aspiring entrepreneurs like myself so I should approach them. I have not really had experiences like this in the past so it definitely differed.
Idea Napkin No. 2
1. I am Jennifer Walstad, a marketing major from Anna Maria Island, Florida. My talents include working quickly but accurately, paying attention to detail, not getting stressed about little things, and being good with people. My aspirations are a lot like everyone else's: to be successful in whatever I end up doing. I want to be the director of marketing at a company at some point in my life. Regarding my business concept, I think if I were to actually start my nutritious popsicle business it would become one of the most important things in my life and would shift my priorities.
2. I am offering to customers amazing service that can not be paralleled, nutritious and delicious popsicles and smoothies and an outlet for support. I believe I can create a business that treats customers like royalty which in turn makes positive word of mouth and before we know it, my popsicles are bringing all the people to the yard.
3. My customers all have the health kick in common. Some may need nutrients more than others but everyone wants them. Demographic is everyone! Parents, children, sick people, overweight people, hospitals, anorexic people, malnourished people.
4. Customers will pay for my good because it will improve their quality of life, simple as that. Health is one of the most important factors that go into a happy life and I can provide that through a simple, delicious outlet.
5. I think I am bold, direct, and driven. I am not afraid to take risks or work until things are done right. I am very perceptive and sociable. I think these qualities translate well to being an Entrepreneur and business owner.
I believe these elements fit together smoothly. I think I have what it takes to create a successful business, I just need the right idea. I am not completely confident with this idea yet. I am still brainstorming, but I am confident in myself.
2. I am offering to customers amazing service that can not be paralleled, nutritious and delicious popsicles and smoothies and an outlet for support. I believe I can create a business that treats customers like royalty which in turn makes positive word of mouth and before we know it, my popsicles are bringing all the people to the yard.
3. My customers all have the health kick in common. Some may need nutrients more than others but everyone wants them. Demographic is everyone! Parents, children, sick people, overweight people, hospitals, anorexic people, malnourished people.
4. Customers will pay for my good because it will improve their quality of life, simple as that. Health is one of the most important factors that go into a happy life and I can provide that through a simple, delicious outlet.
5. I think I am bold, direct, and driven. I am not afraid to take risks or work until things are done right. I am very perceptive and sociable. I think these qualities translate well to being an Entrepreneur and business owner.
I believe these elements fit together smoothly. I think I have what it takes to create a successful business, I just need the right idea. I am not completely confident with this idea yet. I am still brainstorming, but I am confident in myself.
Monday, 4 July 2016
Elevator Pitch No. 2
https://youtu.be/hNLrE4CH2W4
I got helpful feedback that told me I should annunciate more and to add the story about my grandmother that inspired my idea.
I added the story about my grandma and how she inspired this idea.
I got helpful feedback that told me I should annunciate more and to add the story about my grandmother that inspired my idea.
I added the story about my grandma and how she inspired this idea.
Sunday, 3 July 2016
My Customer Avatar
My avatar is a person suffering from cancer going through chemotherapy. She is about 40 years old, married, with 2 kids around 10 years old. They care for her so much but she isn't getting her proper nutrition because she is always nauseous and can't seem to keep food down. They want a solution and my popsicles are it. She loves to eat them and they're doing wonders for her morale and vitamin intake.
My Secret Sauce
1.
I am
direct,
bold,
rational,
perceptive,
& sociable.
2.
#1: She said she thinks I am a natural leader.
#2: He said he sees me as a very put together person.
#3: She thinks I have an easy going and easy to get along with personality.
#4: He described me as someone who knows what they want and will get it.
#5: She thinks of me as a person that isn't afraid of being honest and that I am a loyal friend.
3. I think I see myself pretty accurately compared to how others see me. Some qualities I would not have thought of but I would say I have a fairly accurate idea of myself.
I am
direct,
bold,
rational,
perceptive,
& sociable.
2.
#1: She said she thinks I am a natural leader.
#2: He said he sees me as a very put together person.
#3: She thinks I have an easy going and easy to get along with personality.
#4: He described me as someone who knows what they want and will get it.
#5: She thinks of me as a person that isn't afraid of being honest and that I am a loyal friend.
3. I think I see myself pretty accurately compared to how others see me. Some qualities I would not have thought of but I would say I have a fairly accurate idea of myself.
Wednesday, 15 June 2016
bedflix
Definition: The act of watching Netflix in bed.
Reactions: People thought it was clever and easy to use because most people watch Netflix in bed. People started to use my word.
Reactions: People thought it was clever and easy to use because most people watch Netflix in bed. People started to use my word.
Alternative and Post-Purchase Evaluation
https://soundcloud.com/jennifer-walstad/jessica-maloney
https://soundcloud.com/jennifer-walstad/samantha-powers
https://soundcloud.com/jennifer-walstad/amanda-jensen
In all my interviews the women said that they focus on quality and price the most but good packaging is what draws them in. They like to buy in store over online especially for food items. They prefer to buy with credit cards because it is easier to track what you're spending.
Conclusions:
I need to make sure the popsicle packaging is eye catching in order to draw people in. I need to get the price point just right and the quantity and taste perfect as well. I want people to be satisfied after the purchase so they buy more.
https://soundcloud.com/jennifer-walstad/samantha-powers
https://soundcloud.com/jennifer-walstad/amanda-jensen
In all my interviews the women said that they focus on quality and price the most but good packaging is what draws them in. They like to buy in store over online especially for food items. They prefer to buy with credit cards because it is easier to track what you're spending.
Conclusions:
I need to make sure the popsicle packaging is eye catching in order to draw people in. I need to get the price point just right and the quantity and taste perfect as well. I want people to be satisfied after the purchase so they buy more.
Halfway Reflection
1. I have struggled keeping up with this course like I should. But I would say that you should get a planner and spread out the work you have to do throughout the week so you are not stuck scrambling the day 3 assignments are due.
2. I feel like giving up every time I have to interview because it is inconvenient and awkward. I pushed through each time because I know I have to complete this and improve my business plan. I feel like my attitude has changed through this course.
3. Tip one: get a planner
Tip two: pace yourself
Tip three: make it a priority to complete the interviews and reflections early to really give your all and make the best posts possible in order to better your business.
2. I feel like giving up every time I have to interview because it is inconvenient and awkward. I pushed through each time because I know I have to complete this and improve my business plan. I feel like my attitude has changed through this course.
3. Tip one: get a planner
Tip two: pace yourself
Tip three: make it a priority to complete the interviews and reflections early to really give your all and make the best posts possible in order to better your business.
Sunday, 12 June 2016
Need Awareness and Information Search
Segment; health conscious young adults.
Interview Questions
1. Do you think you have a balanced diet?
Do you feel like you get all of your daily nutrients and vitamins?
Have you tried to take a daily vitamin? Was it successful?
Have you ever eaten a healthy smoothie or gone on a juice cleanse?
If so, What was that experience like?
Are their certain triggers that make you feel like you should start eating healthier?
How often do you get this feeling
Have you ever tried dieting or researching ways to be healthier?
Have you tried to get advice from friends or family about their eating habits or daily regiments?
https://youtu.be/oE_U8lrVlHU
https://youtu.be/-2pzjCX-A0g
https://youtu.be/8U-rlV20gHx
I learned from my interviews that people find it difficult to be healthy. This works to my business plan's advantage.
In terms of needs assessment and information search, I think interviews are helpful. I learned a lot about people's eating and dieting habits and what they see the benefits of a healthy popsicle as. I think people responded well to my plan and thought they would be customers depending on the taste and price.
Interview Questions
1. Do you think you have a balanced diet?
Do you feel like you get all of your daily nutrients and vitamins?
Have you tried to take a daily vitamin? Was it successful?
Have you ever eaten a healthy smoothie or gone on a juice cleanse?
If so, What was that experience like?
Are their certain triggers that make you feel like you should start eating healthier?
How often do you get this feeling
Have you ever tried dieting or researching ways to be healthier?
Have you tried to get advice from friends or family about their eating habits or daily regiments?
https://youtu.be/oE_U8lrVlHU
https://youtu.be/-2pzjCX-A0g
https://youtu.be/8U-rlV20gHx
I learned from my interviews that people find it difficult to be healthy. This works to my business plan's advantage.
In terms of needs assessment and information search, I think interviews are helpful. I learned a lot about people's eating and dieting habits and what they see the benefits of a healthy popsicle as. I think people responded well to my plan and thought they would be customers depending on the taste and price.
Reading Reflection No. 1
Ray Kroc, Grinding it Out: The Making of McDonald's
1) What surprised you the most?
Ray Kroc worked for McDonald's until the day he died.
What about the entrepreneur did you most admire?
I admire his business philosophy. An example of this is a quote where he said "If I had a brick for every time I repeated the phrase "Quality, Service, Cleanliness and Value", I think I'd probably be able to bridge the Atlantic Ocean with them."
What about the entrepreneur did you least admire?
I did not admire that he valued consistency rather than meat quality and health.
Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
Ray Kroc was faced with many challenges but persevered. He was not happy with the formulas of the McDonald brothers so he bought them out and took control.
2) What competencies did you notice that the entrepreneur exhibited?
He definitely embodied drive. He did not let anyone slow him down, he knew what he wanted and had big dreams he knew he would accomplish. He had a brilliant sales and marketing mind.
3) Identify at least one part of the reading that was confusing to you.
I was confused to learn that the McDonald brothers cared less about the business than Ray Kroc did. He had much bigger aspirations for McDonald's than they did.
4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?
I would ask how he knew that McDonalds would be successful I would also ask why he didn't just start his own business when he started clashing with the brothers. I would ask these because it intrigues me.
5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?
I definitely think Ray Kroc can attribute his success to hard work so he definitely reveres the quality. I do share that opinion.
1) What surprised you the most?
Ray Kroc worked for McDonald's until the day he died.
What about the entrepreneur did you most admire?
I admire his business philosophy. An example of this is a quote where he said "If I had a brick for every time I repeated the phrase "Quality, Service, Cleanliness and Value", I think I'd probably be able to bridge the Atlantic Ocean with them."
What about the entrepreneur did you least admire?
I did not admire that he valued consistency rather than meat quality and health.
Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
Ray Kroc was faced with many challenges but persevered. He was not happy with the formulas of the McDonald brothers so he bought them out and took control.
2) What competencies did you notice that the entrepreneur exhibited?
He definitely embodied drive. He did not let anyone slow him down, he knew what he wanted and had big dreams he knew he would accomplish. He had a brilliant sales and marketing mind.
3) Identify at least one part of the reading that was confusing to you.
I was confused to learn that the McDonald brothers cared less about the business than Ray Kroc did. He had much bigger aspirations for McDonald's than they did.
4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?
I would ask how he knew that McDonalds would be successful I would also ask why he didn't just start his own business when he started clashing with the brothers. I would ask these because it intrigues me.
5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?
I definitely think Ray Kroc can attribute his success to hard work so he definitely reveres the quality. I do share that opinion.
Idea Napkin No. 1
1. I am Jennifer Walstad, a marketing major from Anna Maria Island, Florida. My talents include working quickly but accurately, paying attention to detail, not getting stressed about little things, and being good with people. My aspirations are a lot like everyone else's: to be successful in whatever I end up doing. I want to be the director of marketing at a company at some point in my life. Regarding my business concept, I think if I were to actually start my nutritious popsicle business it would become one of the most important things in my life and would shift my priorities.
2. I am offering to customers amazing service that can not be paralleled, nutritious and delicious popsicles and smoothies and an outlet for support. I believe I can create a business that treats customers like royalty which in turn makes positive word of mouth and before we know it, my popsicles are bringing all the people to the yard.
3. My customers all have the health kick in common. Some may need nutrients more than others but everyone wants them. Demographic is everyone! Parents, children, sick people, overweight people, hospitals, anorexic people, malnourished people.
4. Customers will pay for my good because it will improve their quality of life, simple as that. Health is one of the most important factors that go into a happy life and I can provide that through a simple, delicious outlet.
5. I think I am bold, direct, and driven. I am not afraid to take risks or work until things are done right. I am very perceptive and sociable. I think these qualities translate well to being an Entrepreneur and business owner.
I believe these elements fit together smoothly. I think I have what it takes to create a successful business, I just need the right idea. I am not completely confident with this idea yet. I am still brainstorming, but I am confident in myself.
2. I am offering to customers amazing service that can not be paralleled, nutritious and delicious popsicles and smoothies and an outlet for support. I believe I can create a business that treats customers like royalty which in turn makes positive word of mouth and before we know it, my popsicles are bringing all the people to the yard.
3. My customers all have the health kick in common. Some may need nutrients more than others but everyone wants them. Demographic is everyone! Parents, children, sick people, overweight people, hospitals, anorexic people, malnourished people.
4. Customers will pay for my good because it will improve their quality of life, simple as that. Health is one of the most important factors that go into a happy life and I can provide that through a simple, delicious outlet.
5. I think I am bold, direct, and driven. I am not afraid to take risks or work until things are done right. I am very perceptive and sociable. I think these qualities translate well to being an Entrepreneur and business owner.
I believe these elements fit together smoothly. I think I have what it takes to create a successful business, I just need the right idea. I am not completely confident with this idea yet. I am still brainstorming, but I am confident in myself.
Friday, 3 June 2016
Elevator Pitch No. 1
Poppin Popsicles
Opportunity: People not getting the nutrition they need.
Solution: Putting all daily nutrients in a popsicle.
I am going to take the next minute and a half to tell you why my business idea can improve quality of life of many people. Here is how: I am going to create a delicious, low cost popsicle that will improve the health of people in all circumstances. From chemotherapy patients to people who don't get enough nutrients, everyone can benefit from these easy to eat/ no appetite required meal replacement. I was inspired by my grandmother who had no appetite during her chemotherapy treatment. Seeing her weak and unable to eat without being sick made me want to create something to help her. This is the time that her body needed the most nutrients and she was getting the least. Something needed to be done. The only thing she could eat without vomiting was popsicles and slushies so I thought if we jam pack all the nutrients in to those everything would be fine. I think this could benefit so many people, even if they just want a yummy nutritious treat. You should invest in my company because I can help people with this product.
Opportunity: People not getting the nutrition they need.
Solution: Putting all daily nutrients in a popsicle.
I am going to take the next minute and a half to tell you why my business idea can improve quality of life of many people. Here is how: I am going to create a delicious, low cost popsicle that will improve the health of people in all circumstances. From chemotherapy patients to people who don't get enough nutrients, everyone can benefit from these easy to eat/ no appetite required meal replacement. I was inspired by my grandmother who had no appetite during her chemotherapy treatment. Seeing her weak and unable to eat without being sick made me want to create something to help her. This is the time that her body needed the most nutrients and she was getting the least. Something needed to be done. The only thing she could eat without vomiting was popsicles and slushies so I thought if we jam pack all the nutrients in to those everything would be fine. I think this could benefit so many people, even if they just want a yummy nutritious treat. You should invest in my company because I can help people with this product.
https://www.youtube.com/jenniferwalstadelevatorpitch
Tweaking the Innovation
1. Product mix: My product mix could expand from nutritious popsicles to include smoothies and vitamins. Different revenue drivers are whether my product differentiates enough from the smoothie craze happening now.
2. The Core level; the benefit is healthiness.
Actual: the taste of the popsicle or smoothie.
Augmented: the continued relationship with my company and impeccable customer service.
3. Popsicle: I can innovate by adding another core benefit other than health.
I could innovate by enhancing the taste from just being good to an experience going to many other senses.
2. The Core level; the benefit is healthiness.
Actual: the taste of the popsicle or smoothie.
Augmented: the continued relationship with my company and impeccable customer service.
3. Popsicle: I can innovate by adding another core benefit other than health.
I could innovate by enhancing the taste from just being good to an experience going to many other senses.
Thursday, 2 June 2016
Testing the Opportunity Hypothesis Part 2
My business proposal is a delicious frozen treat/ popsicle that has all the daily nutrients necessary to live a healthy life. This would be a product that could be beneficial to everyone that wants to improve their health but my target audience would be people going through chemotherapy. A side effect of this treatment is a lack of appetite so it is hard for them to get the sustenance their body needs in this trying time. Popsicles are easy to eat and refreshing so I think this could improve people suffering through cancer's quality of life.
WHO: A lot of people fall outside of my target audience boundary but I think everyone could be a little healthier and could use more daily nutrients because I doubt everyone eats their daily intake of vegetables, fruits and vitamins.
WHAT: The need for proper nutrition, which applies to everyone, differs from the need to eat something that won't make you nauseous and will give you your only nutrients for the day because you can't bare to eat anything solid. Despite the different levels of need, I want to make it into one marketable product that helps people everywhere.
WHY: The need of the outsiders and insiders are different but they both can use this product.
soundcloud.com/lizzieconnor
soundcloud.com/jessmaloney
soundcloud.com/luissanoja
soundcloud.com/ryansaunders
soundcloud.com/mariafaret
I found that most people think this is a great idea and could be applicable to everyone since no one eats properly. Following our daily intake schedule is difficult and can be expensive, as Jess Maloney said. I will definitely keep the cost of my popsicles low. Ryan Saunders thought my idea was good but its basically the same as the kale super smoothie craze going on right now which is a valid point. I may need to differentiate the product more for it to be successful.
Inside the boundary Outside the boundary
People going through chemotherapy Healthy people or those that do not care about their health.
To intake nutrients Nutrients may not be prioritized
They need to eat something that doesn't require They may not want to eat healthy
a huge appetite
WHO: A lot of people fall outside of my target audience boundary but I think everyone could be a little healthier and could use more daily nutrients because I doubt everyone eats their daily intake of vegetables, fruits and vitamins.
WHAT: The need for proper nutrition, which applies to everyone, differs from the need to eat something that won't make you nauseous and will give you your only nutrients for the day because you can't bare to eat anything solid. Despite the different levels of need, I want to make it into one marketable product that helps people everywhere.
WHY: The need of the outsiders and insiders are different but they both can use this product.
soundcloud.com/lizzieconnor
soundcloud.com/jessmaloney
soundcloud.com/luissanoja
soundcloud.com/ryansaunders
soundcloud.com/mariafaret
I found that most people think this is a great idea and could be applicable to everyone since no one eats properly. Following our daily intake schedule is difficult and can be expensive, as Jess Maloney said. I will definitely keep the cost of my popsicles low. Ryan Saunders thought my idea was good but its basically the same as the kale super smoothie craze going on right now which is a valid point. I may need to differentiate the product more for it to be successful.
Inside the boundary Outside the boundary
People going through chemotherapy Healthy people or those that do not care about their health.
To intake nutrients Nutrients may not be prioritized
They need to eat something that doesn't require They may not want to eat healthy
a huge appetite
Saturday, 21 May 2016
Forming an Opportunity Belief
1. There is an opportunity for an initiative to increase parking at the University of Florida.
2. Students and faculty need more parking on campus and in the city of Gainesville. A solution would be another parking garage.
The need has increased within the past few years because more people are driving and bringing their cars to school.
Now, there is a student government committee to brainstorm how to make more parking but they have not had any break throughs.
This opportunity definitely exists. There is a large need and we need to figure out how to meet it.
3. The prototypical customer is students who live in populated areas, like around sorority row.
4. Iteration no. 1- Lizzie Connor
Q: Do you find that looking for parking around your apartment is difficult?
A: Yes. I often cannot find parking near my apartment and have to walk long distances with heavy objects like groceries. It is an extreme inconvenience.
Reflection: I learned that more people fell the same way that I do and that having more parking would solve a lot of issues.
Iteration no. 2- Jess Maloney
Q: How long have you had difficulty with finding parking?
A: Since I got to Gainesville. They oversell the city parking so its always full and I have to drive around for forever to find a parking spot and its usually really far from my apartment. Its honestly a safety hazard. I feel unsafe walking alone far distances at night. I need more parking!
Reflection: I learned that its not just about being inconvenient, its about safety. I feel like this is a way bigger problem than it is being treated as. Safety of students should be the first priority.
Iteration no.3- Victoria Najmy
Q: How often do you experience trouble with parking?
A: The only time I have found close enough parking to where I live is when its a holiday weekend or summer when less people are in Gainesville. I don't feel safe walking that far, especially at night and its a major inconvenience and waste of time having to drive around just to park my car.
Reflection: I believe that this needs to be addressed as soon as possible. We need to figure this out for the peace of mind of UF students.
7. My entire original opportunity is still there. I believe it is more accurate than when I started because I realized that everyone could use more parking and would benefit in ways I hadn't thought of, like feeling safer. I definitely think entrepreneurs should value customer feedback completely. After all, those are who is buying your product so you should listen to them within reason.
2. Students and faculty need more parking on campus and in the city of Gainesville. A solution would be another parking garage.
The need has increased within the past few years because more people are driving and bringing their cars to school.
Now, there is a student government committee to brainstorm how to make more parking but they have not had any break throughs.
This opportunity definitely exists. There is a large need and we need to figure out how to meet it.
3. The prototypical customer is students who live in populated areas, like around sorority row.
4. Iteration no. 1- Lizzie Connor
Q: Do you find that looking for parking around your apartment is difficult?
A: Yes. I often cannot find parking near my apartment and have to walk long distances with heavy objects like groceries. It is an extreme inconvenience.
Reflection: I learned that more people fell the same way that I do and that having more parking would solve a lot of issues.
Iteration no. 2- Jess Maloney
Q: How long have you had difficulty with finding parking?
A: Since I got to Gainesville. They oversell the city parking so its always full and I have to drive around for forever to find a parking spot and its usually really far from my apartment. Its honestly a safety hazard. I feel unsafe walking alone far distances at night. I need more parking!
Reflection: I learned that its not just about being inconvenient, its about safety. I feel like this is a way bigger problem than it is being treated as. Safety of students should be the first priority.
Iteration no.3- Victoria Najmy
Q: How often do you experience trouble with parking?
A: The only time I have found close enough parking to where I live is when its a holiday weekend or summer when less people are in Gainesville. I don't feel safe walking that far, especially at night and its a major inconvenience and waste of time having to drive around just to park my car.
Reflection: I believe that this needs to be addressed as soon as possible. We need to figure this out for the peace of mind of UF students.
7. My entire original opportunity is still there. I believe it is more accurate than when I started because I realized that everyone could use more parking and would benefit in ways I hadn't thought of, like feeling safer. I definitely think entrepreneurs should value customer feedback completely. After all, those are who is buying your product so you should listen to them within reason.
Friday, 20 May 2016
Identifying Local Opportunities
1. "Car insurance rates skyrocket as Floridians drive more and crash more"
http://www.bradenton.com/news/state/florida/article78831777.html
Car insurance rates have been more expensive because the amount of drivers is increasing which means accidents are going up too. Premiums have risen 14% statewide since January of last year. People are complaining of continuously increased rates.
The problem is that insurance is getting too expensive.
People who have the problem are drivers in Florida that have to pay outrageous rates.
2. "I fought for civil rights. It is offense to compare it to transgender fight."
http://www.bradenton.com/news/nation-world/national/article78836742.html
A man who participated in a sit-in in Greensboro feels very disrespected by people comparing the transgender bathroom situation to Jim Crow laws.
The problem is that this man is offended and feels he is being wronged by the comparison being made.
All of the African American community potentially has the problem if they agree with this man.
3. "Claiming a pet is a service animal is risky."
http://www.heraldtribune.com/article/20160520/NEWS/160529977/2066/NEWS?Title=Claiming-a-pet-is-a-service-animal-is-risky
A woman with a legitimate service dog that helped her since she lost her eyesight was disrupted in a store by an illegitimate concealed animal that started barking.
The lady with impaired vision is claiming that it causes problems for her service dogs training to be exposed to a dog that is not a real service dog. She also thinks its unfair because she actually needs these services and people lie about it.
Anyone with a legitimate service dog could potentially have this problem if it bothers them that people lie about their dogs being service dogs.
4. "Home prices climb, fueling affordability debate."
http://www.heraldtribune.com/article/20160520/ARTICLE/160529952/2071/NEWS?Title=Home-prices-climb-fueling-affordability-debate
Housing prices are increasing and it doesn't show chances of stopping.
The problem is that people cannot afford homes and this is posing problems for the housing market.
People that want to purchase homes have this problem.
5. "Expelled: No second chances"
http://expulsions.heraldtribune.com
Sarasota County is the leading county in expulsions.
The problem is that it seems kicking kids out of school is the easiest option to deal with misbehavior.
This is a problem that affects students and families with troubled kids that can't continue their education.
http://www.bradenton.com/news/state/florida/article78831777.html
Car insurance rates have been more expensive because the amount of drivers is increasing which means accidents are going up too. Premiums have risen 14% statewide since January of last year. People are complaining of continuously increased rates.
The problem is that insurance is getting too expensive.
People who have the problem are drivers in Florida that have to pay outrageous rates.
2. "I fought for civil rights. It is offense to compare it to transgender fight."
http://www.bradenton.com/news/nation-world/national/article78836742.html
A man who participated in a sit-in in Greensboro feels very disrespected by people comparing the transgender bathroom situation to Jim Crow laws.
The problem is that this man is offended and feels he is being wronged by the comparison being made.
All of the African American community potentially has the problem if they agree with this man.
3. "Claiming a pet is a service animal is risky."
http://www.heraldtribune.com/article/20160520/NEWS/160529977/2066/NEWS?Title=Claiming-a-pet-is-a-service-animal-is-risky
A woman with a legitimate service dog that helped her since she lost her eyesight was disrupted in a store by an illegitimate concealed animal that started barking.
The lady with impaired vision is claiming that it causes problems for her service dogs training to be exposed to a dog that is not a real service dog. She also thinks its unfair because she actually needs these services and people lie about it.
Anyone with a legitimate service dog could potentially have this problem if it bothers them that people lie about their dogs being service dogs.
4. "Home prices climb, fueling affordability debate."
http://www.heraldtribune.com/article/20160520/ARTICLE/160529952/2071/NEWS?Title=Home-prices-climb-fueling-affordability-debate
Housing prices are increasing and it doesn't show chances of stopping.
The problem is that people cannot afford homes and this is posing problems for the housing market.
People that want to purchase homes have this problem.
5. "Expelled: No second chances"
http://expulsions.heraldtribune.com
Sarasota County is the leading county in expulsions.
The problem is that it seems kicking kids out of school is the easiest option to deal with misbehavior.
This is a problem that affects students and families with troubled kids that can't continue their education.
Friday, 13 May 2016
Bug List
1. I hate being stuck in traffic when I'm in a hurry or not.
I think I despise this so much because I am not in control and I don't understand why traffic builds up, it seems like an avoidable annoyance.
2. I don't like when people leave their stuff out and don't clean up.
I think its inconsiderate.
3. It annoys me when people are loud.
It hurts my ears.
4. I get bugged by how sensitive my skin is because I get burnt easily.
Being burnt is painful.
5. I don't like when people smack their gum.
I think it is gross.
6. I get annoyed when I have 2 exams within 2 days of each other.
It's hard for me to study for two different classes at the same time so I don't like this.
7. I get bugged when people don't say thank you when you go out of your way to help them.
I believe in being polite and I don't like when people are unappreciative.
8. When people leave trash in my car after giving them a ride.
I think it's disrespectful.
9. I don't like when people chew with their mouth open.
I think it's gross.
10. I do not like when people are late.
I think it is disrespectful of other people's time and shows selfishness.
11. I don't like when people complain about the temperature a lot.
I find it to be impolite and negative.
12. I hate when people can only talk about themselves and don't pay attention to your stories.
I think it is really rude and self centered.
13. I hate crowded spaces where I have to fight through people.
I might be slightly claustrophobic and I also don't like being touched by strangers.
14. When people don't pay you back.
I think its really rude and shows they did not appreciate you spotting them the money to eat or purchase something.
15. It bothers me when people complain about their majors and schoolwork.
I think it shows selfishness because everyone has schoolwork and we should all be conscious that everyone's busy and has hard classes.
16. I get annoyed when I can't do certain things with my friends because of schoolwork.
I don't like missing out on things because I feel like experiences are the whole point of life so I hate missing cool things for studying or writing a paper.
17. I don't like it when I can't understand an accent.
I don't like when I have to keep asking people to repeat themselves.
18. I hate when I lose my phone.
It is very inconvenient.
19. I get annoyed when my car can't fit into the only open parallel parking spot nearby.
I have a bigger car so it happens a lot and I have to walk far to wherever I'm going.
20. I am bugged when the room is hot because I can't sleep when its hot.
I love sleeping and I get really frustrated when I can't fall asleep.
I found this list to be extremely difficult to write. It's hard to come up with things off the top of your head. I think this is because we as humans try not to dwell on the negative and try not to keep in mind what is annoying to us.
I think I despise this so much because I am not in control and I don't understand why traffic builds up, it seems like an avoidable annoyance.
2. I don't like when people leave their stuff out and don't clean up.
I think its inconsiderate.
3. It annoys me when people are loud.
It hurts my ears.
4. I get bugged by how sensitive my skin is because I get burnt easily.
Being burnt is painful.
5. I don't like when people smack their gum.
I think it is gross.
6. I get annoyed when I have 2 exams within 2 days of each other.
It's hard for me to study for two different classes at the same time so I don't like this.
7. I get bugged when people don't say thank you when you go out of your way to help them.
I believe in being polite and I don't like when people are unappreciative.
8. When people leave trash in my car after giving them a ride.
I think it's disrespectful.
9. I don't like when people chew with their mouth open.
I think it's gross.
10. I do not like when people are late.
I think it is disrespectful of other people's time and shows selfishness.
11. I don't like when people complain about the temperature a lot.
I find it to be impolite and negative.
12. I hate when people can only talk about themselves and don't pay attention to your stories.
I think it is really rude and self centered.
13. I hate crowded spaces where I have to fight through people.
I might be slightly claustrophobic and I also don't like being touched by strangers.
14. When people don't pay you back.
I think its really rude and shows they did not appreciate you spotting them the money to eat or purchase something.
15. It bothers me when people complain about their majors and schoolwork.
I think it shows selfishness because everyone has schoolwork and we should all be conscious that everyone's busy and has hard classes.
16. I get annoyed when I can't do certain things with my friends because of schoolwork.
I don't like missing out on things because I feel like experiences are the whole point of life so I hate missing cool things for studying or writing a paper.
17. I don't like it when I can't understand an accent.
I don't like when I have to keep asking people to repeat themselves.
18. I hate when I lose my phone.
It is very inconvenient.
19. I get annoyed when my car can't fit into the only open parallel parking spot nearby.
I have a bigger car so it happens a lot and I have to walk far to wherever I'm going.
20. I am bugged when the room is hot because I can't sleep when its hot.
I love sleeping and I get really frustrated when I can't fall asleep.
I found this list to be extremely difficult to write. It's hard to come up with things off the top of your head. I think this is because we as humans try not to dwell on the negative and try not to keep in mind what is annoying to us.
My Entrepreneurship Story
In high school I started a service club for women with my friends. I have always been passionate about community service and there was only one service club at my high school so I seized the opportunity. The club was a success and we created a positive reputation within our community and were requested by places in need of volunteers through good word of mouth.
I chose ENT3003 because I am in the business college and entrepreneurship is interesting to me. I hope to gain knowledge about the makings of an entrepreneur and the qualities that are necessary to be a successful one.
I chose ENT3003 because I am in the business college and entrepreneurship is interesting to me. I hope to gain knowledge about the makings of an entrepreneur and the qualities that are necessary to be a successful one.
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