Week 8 Reading Reflection

1.     I found it extremely interesting to learn that past a certain amount of capital there are disclosure and information requirements. When payments get close to 1 million there is little or no requirement, but at 5 million there is.

2.     The concept of angel investors is slightly confusing.

3.     If I could ask two questions of the author it would be one: If you were attempting to grow a business what type of investor would you look for. The second questions would be: If you had five million dollars to invest what would you invest it in?

4.     The majority of this chapter was definitions so no I did not find anything that I disagree with.  

Half-Way Reflection

1.     The course has required a significant amount of time management and planning. Another skill required to succeed in this class is the willingness to try new things and execute on extremely obscure tasks.

2.     I do not think I have developed any sort of tenacious attitude from this class or any sort of tenacious skills, but I do believe this class has forced me to do things slightly out of my comfort zone. During the stages of customer interviews I wanted nothing to do with the assignment, but pulled through and received several random interviews.

3.     The three tips I would suggest for upcoming students in this class is to work on assignments ahead of time, accept the fact that sometimes you will have to do obscure tasks, and lastly to constantly check your canvas page for assignments. In the perspective of developing a tenacious attitude the tip I would suggest is to just go out and do it regardless of your feelings about the assignment.

Free Money

My plan of attach was to simply look for people walking near my house on there way to the library. 

For the most part people were extremely surprised that I was trying to give them money for no reason. I was surprised more people did not accept the money, but assumably if it was more than a dollar most people would have accepted it. 

I don’t really understand the value of the exercise as it relates to entrepreneurship, but it was an interesting social experiment. 

Week 7 Reading Reflection

1.     I found it extremely interesting to see the way marketing segmentation has developed and how psychographic segmentation may be the best way to dictate how and to whom firms market their products

2.     I found the rationale for why market segmentation is so ineffective a little confusing. I believe that in essence the practice makes sense, maybe it simply is just isn’t performed correctly.

3.     If I could ask the author two questions the first would be: If you could choose a specific product category to market, which would it be?  I am curious to know what products the author thinks are growing and valuable. The second question would be: What do you think the future of marketing will be 10 years from know? I am curious because I believe in the future almost everything will be technology based.

4.     There was nothing I particularly disagree with.

Elevator Pitch No. 2

Reflection: I only received one comment for feedback on my first video, but the recommendation I received was definitely valuable. The comment mentioned that it is important to mention the quality of the material rather that what issue the product solved especially with my idea.I did not receive any feedback other than the one comment so none of which I would consider outright wrong or silly.

What changed: In the new video I maintained a similar introduction, but added a segment explaining the quality of the material in the end section. 

Link to Video

Customer Interviews No. 3

I plan on asking the simple question of what their opinion is of my concept of a dry fit dress shirt button down. My approach will simply be to wander around near campus and see if I can find anyone willing to answer a quick question. I unfortunately was only able to get 4 out of the 5 interviews, but I think the ones that I got had some valid opinions.

I learned that you will often get rejected when attempting to approach people on the street, but whats important is that you continue to try. I was a little surprised that some people didn’t think my idea was plausible. I don’t think many things will change after this experiment. I believe that if the product was created as I envision it, people would understand and appreciate the concept.