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.

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.

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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.

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.
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-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.

Reading Reflection No. 2

Inbound Marketing by Bryan Malligan

1. The general theme of the book was about how consumers are becoming better at detecting and ignoring advertising ploys. The book talks about how "inbound marketing," which is when customers find you through social media or they are recommended you from a friend or trusted person. It talks about how social media is of utmost importance now for this reason.

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.

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.

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.

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.