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Final Reflection – 30A

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I remember the first time I felt dread about doing an assignment, was with the fourth assignment, Forming an Opportunity Belief. It was difficult for me to think of an idea and then find people to interview. I wasn’t yet comfortable approaching and interviewing people. I think my first elevator pitch is definitely the experience I will remember for years. I was so nervous because I hate talking to a camera and I can get shy and quiet. I think I’m most proud of my elevator pitch because of those reasons. After doing it three times, I still get nervous but not as much. My most joyous experience was working on the assignment, ‘What’s Your Secret Sauce?’. It was nice to be able to hear what my closest family and friends think of me, that doesn’t happen often. I can’t see myself as an entrepreneur right now since I haven’t actually started any business concept but I do have the mindset already. I find myself always questioning target markets and potential customers when thinkin
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Venture Concept No. 2 – 29A

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1.      Opportunity: a.      Who has the need? Mothers, caregivers, and fathers of young children ages 14 and younger. b.      Who are the potential customers? Potential customers are mothers and caregivers of children 14 and younger that have busy schedules and want to make sure their children are kept safe. Also, potential customers could be pet owners that are worried about their dog's safety when traveling in vehicles. c.      Nature of the need: Hundreds of children have suffered by being forgotten in a hot vehicle, either causing a fatality or permanent severe damage. d.      What are the forces or changes in the environment creating this opportunity? This is something that can happen especially during warmer months or in an area of hot climates year-round like Florida. It can happen to anyone, especially young, busy parents that have one or more young children. e.      How is this market defined geographically and demographically? This market is typically found in
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Your Exit Strategy – 28A

1) 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? As I’ve mentioned previously, I think my intentions would be to sell my business or at least my product to another company for a profit. 2) Why have you selected this particular exit strategy? I once heard in a movie, if someone is willing to buy, sell. I think selling the business would be a better opportunity for me. I won’t have to sell the whole company, I can always keep my shares. I would use the large return to either start a new business concept or to retire depending on my age. 3) 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 gro
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