Final Reflection

1.     Throughout my experience with ENT3003 there was ups and downs, but overall it was a successful journey. It was definitely challenging to find random people to interview on a consistent basis and it was definitely challenging to stay on top of all the assignments. On the other hand, I enjoyed the opportunity to speak with a successful entrepreneur and learn from his experience. I’m not sure if I will remember this class in the future, but I definitely learned a lot and hope that I will use that knowledge to grow whatever business ventures cross my path.

2.     I wouldn’t consider my self an entrepreneur just yet, but I definitely believe I have the will to become one. Through hard work and determination I can become a successful entrepreneur in the future.

\For any future student I will simply recommend keeping and open mind, do your best to try and learn from the assignments, and to read the assignments a couple days before they are due so you can prepare accordingly.

Week 15 Reading Reflection

1.     I was extremely surprising to hear that the SKS business model originated as a non-profit and then scaled into a profit oriented company.

2.     There was nothing throughout the article that I felt was confusing.

3.     If I could ask the author two questions the first would be: Do you see SKS changing its business scheme in the near future? The second question would be: Throughout your experience building a business what experiences do you consider most valuable to your success?

4.     There is nothing in the article that I disagree with.

Venture Concept No. 2

In society today appearance is a strong element in determining how you are viewed and how you are treated. A majority of that appearance is derived from what you wear and how you look. My company DressFit is product that maintains a certain appearance while allowing a level of comfort. DressFit is a revolutionary brand of dress clothing that seeks to provide the utmost comfort in a business environment. My line of apparel is unique in its utility, but remains on par with top designer brands. 

The opportunity within my line of apparel is defined by the inherent need for corporate workers to find comfort in their clothing. The standard uniform of most corporate employees is some form of suit with a tie and dress shirt. Typically, most dress shirts are relatively uncomfortable and lead to perfuse sweating and embarrassing sweat stains. My product eliminates that and allows for a comfortable stylish way to look and feel good in the office. The product has a vast array of customers, but is centrally geared towards the business professional segment of the market.  The opportunity has no severe limits based on geographic location, but is likely to be more popular in large developed cities that have a high level of corporate density.

The innovation aspect of my product lies within the material the product is made out of. Obviously the material does not exist yet as the product has not been developed, but ideally the line of apparel would be made out of a lightweight sweat wicking material that maintains the style and look of a traditional dress shirt. Aside from that, the product will have unique stylish designs and a memorable eye catching logo. The company will ideally sell its own line of clothing, but there are opportunities to license the material to other top designer brands.

DressFit is founded on the concept of maintaining comfort while enhancing appearance. The products core competency lies in its ability to prevent sweat stains and help those in office settings look and feel good. Initially the product will likely appeal to mostly men and woman who have trouble preventing sweat stains, but will progress to enhance the comfort and appearance of those in a corporate setting. The challenge is really creating a brand and marketing to the right cliental. It will definitely be a challenge to take customers away from classic designer brands, but as more people try the product the more recognition it will receive. It is hard to determine how the business would be laid out due to the fact that the product is in its concept stages, but the company will likely need a production factory of some sort with 10-20 employees. Obviously, as the business scales so will its production requirements.

A couple major challenges the company faces is overcoming the challenge of successfully creating the brands material at low costs as well as marketing the brand to attack the right niche of the market. The product would essentially need to be created within a year or two span and would likely need to take out a lump sum of debt to cope with the financial responsibilities of the project. However, I believe once the product hits the market its influence will quickly spread.

Overall the company has massive potential, it simply needs the time to be artfully crafted and implemented in a strategic way. If the company was created it would likely be an uphill battle at first due to the vast array of competitors in the clothing industry, but once the product gains some notoriety it would likely skyrocket in the market. This venture as of now is only an idea, but I plan to continue to grow my entrepreneurial goals and continue to innovate and design products that will progress my career to the top of my industry.  

Feedback:

For the most part the feedback that I received revolved on the research of the products materials and the financing behind it. There was not much given on how the product should be changed, rather how the product should be strategized. Many people mentioned that the company is extremely dependent on a successful marketing campaign and relies on appealing to the right crowd.

Edit to Original:

In order to edit my piece according to my feedback I simply added a small paragraph in my piece that addressed all the concerns that were given.

 

Google Gold

1. A strategy I used to promote my blog was to simply use my name throughout and to consistently add picture when asked to as well as constantly add my link to every comment I made throughout the semester.
2. My keywords were simply my name and my blog name.
3. I did not utilize social media to it fullest capacity, but through my blogger portfolio and commenting on others portfolios I promoted my blog name.
4. My "Whats next" post was my most viral post. I think the reason was due to the extent of my work on the piece. I added several details and I believe several people also agreed with my desire to have someone take over the management aspect of my company.
5. I succesfully made the first page of my google results.

Week 14 Reading Reflection

1. I found it interesting to learn that several corporate entities employe the use of Skunks Works to promote their entrepreneurial development.
2. I found the corporate entrepreneurship assessment instrument slightly confusing in terms of its function and how its use helps structure the work environment.
3. If I could ask the author two questions the first would be: If you were structuring a company what kind of organization structure would you implement. The second question would be: Through your experience what kind of corporate structure promotes employee satisfaction the best.
4. There was nothing that I felt the author was wrong about.

Very Short Interview, Part 2

After reviewing my previous interview with Isaac it seems extremely clear that the key to success as an entrepreneur is hard work and dedication. The pursuit of your goal regardless of your obstacles is what separates success from failure.

I was unable to record my second interview with Isaac, but below is a detailed description of our conversation.

What is your favorite aspect of being an entrepreneur?

Answer: “I love the fact that I constantly feel like I have someone or something working for me. No matter what I am doing I feel like I have set groundwork to ensure my continued success.”

If you could go back and revisit your path what would you say is one of your most valuable experiences?

Answer: “Experiencing failure was incredibly valuable in my past. Each time I failed I learned what I could improve and learned to never make the same mistake twice.”

What can I do now to become successful as an entrepreneur?

Answer: “Continue to pursue your goals regardless of whether or not you immediately succeed or fail. All experience is good experience. Continue to work hard and learn as much as you can while your young.”

I think for the most part my comfort level has remained relatively constant throughout this class. I think I have a better understanding of the value of failure and what it takes to succeed as an entrepreneur. After interviewing Isaac I believe he saw my motivation and my determination to succeed and possibly a slight change in my attitude throughout this process.

Celebrating Failure

1.     This semester I have struggled with one of my upper division business courses. The past two exams have not gone up to par with my expectations.

2.     I have learned that sometime you will struggle with obstacles, but what’s important is that you continue to work hard until you achieve your goals.

3.     Failure is tough, but in several instances is more valuable than success. Failure helps you grow as a person and helps you learn what you can do to improve as a person and in your life ventures. Failure is extremely troubling and causes a lot of stress, but it makes the times when you do succeed that much better. This class has not really altered my perception of failure or my personal goals, but it has helped me to realize the value of failure and the value of risk.