Final Reflection

1) As I went back and took a look at all of my work for this semester I have realized that I have learned a lot of valuable knowledge that will nde day help me to become a successful entrepreneur. There were a few instances where I felt like I wasn't working in the right direction with my opportunity but with the help of the student feedback I was able to hone in on an idea and really get inspired.

2) The assignment that stuck out to me the most as a formative experience would have to be the elevator pitches. At the beginning I was very shy and did not feel confident in my idea yet so that had an effect on my pitch. With the feedback I received I was able to change little things to make my presentation even more memorable. By the end of the elevator pitches I felt a thousand times more confident and even excited to see how I could present my pitch to the world.

3) Throughout this semester I definitely think that I have gained a sort of entrepreneurial mindset that will help me in all my future endeavors. After I had completed all of the assignments for this class I realised that there was a lot more that went into in than just having a good idea. There are so many different steps that allow you to take your idea from something so small into something that is extraordinary.  The assignments in this class really are there to help you develop that entruepirial mindest.

4) For the students that are about to take this journey towards an entrepreneurial mindset I recommend that you really use the feedback you receive for your benefit. It will help you to enhance your idea in a way that you may not have thought about. There were many instances that I changed my idea based on the feedback that I had received. To perform best in this class make sure you stay on top of your assignments. This is not a hard class and it is very easy to get an A as long as you do you work on time. The best way to grow your  entrepreneurial mindset is to watch the lectures and take what he says into account as you are completing the assignments, Good luck!

Venture Concept No.2

Opportunity: The opportunity I have identified was created to meet the unmet need of many Americans throughout the country when it comes to reading. There has been a decrease in the use of public libraries and bookstores across the country. This is something that affects everyone from young children to the elderly. More people need to take the time and read so they can reap the positive benefits that they have on your mind, body, and intellect. Reading has been proven to have many benefits such as stress reduction, vocabulary expansion, memory improvement, and stronger analytical thinking skills. These are just a few of the reasons that reading is beneficial to your health.  For kids, reading is a way to start their journey into learning and education. This business will be very useful for parents with children who want to encourage their kids to read. The best thing about our business is that it is marketed for people of all ages. This way we can reach out to everyone and find books that our just right for them. Customers are currently satisfying their needs through the use of public libraries, book stores, and online stores. For many people that is all the options for attaining books, but we are trying to change that. Customers should not need to spend about $20 per book to only read it once when they can subscribe in our service for a low monthly cost and receive up to 5 books per month. They will all have to be returned by the end of the month in our easy to return book box to help with the troubles of shipping them back. Then the next month will arrive shortly after to start the whole process all over again all the while getting more people to read. This opportunity has the ability to spread all around the country to those who are looking to expand their minds and vocabulary to better themselves. If everyone in the country started to read at least one book a month we would be able to improve the literacy rate in our country all by picking up a book and reading for a few minutes each day. This window of opportunity will not close because as long as we continue to make history, history will need to be written about. This is how we pass down knowledge of our past present and future to other generations to come. Reading will never go out of style because it is how we connect to all areas of the world.

Innovation: The service I am offering is a book subscription service that allows customers to receive up to 5 books per month that will be delivered right to their door for a low monthly cost. We will have the option for customers to select from a list of interests for their likes and dislikes to help us create a customized list of books for them to choose from each month. This way we are helping them so select books that they might be interested in because for many people they feel overwhelmed with the vast selection of books. By doing this we are able to help them make a selection for the books they would like to order for that month. With each subscription box you receive there will be a box that you will send the books back in so it is easy and there is no need to go to the post office each time to return the books, just stick them right in your mailbox. The book subscription will vary on price depending how many books you would like to read each month as well as the length of time you would like to have the subscription for. The basic membership that comes with 3 books per month is $24.99 and members will receive discounts after they have been with us for 6 months continually. We hope to encourage as many people as we can to start reading by bringing books fright to their door each and every month.  

Venture Concept: The service I have identified will address my opportunity through bringing books to people right at their doorstep for a low monthly cost. Our main goal is get more people to start reading again so they can reap all of the important health benefits associated with reading. Such as; stress reduction, vocabulary expansion, increase in analytical thinking skills, and memory improvement. These are just a few of the added benefits to picking up a book and reading for a little bit of time each day. We have added a section just for kids so that they can go online and chat with other children around the world about books that they've read and enjoyed. This way we are able to spread the joy of reading all around the world to children of all ages and increase their likelihood of success. The business also wanted to help cut down on the prices that people would pay to buy a new book each month. Our service is designed to basically rent books each month and then return them for new ones that you will have selected on the suggested list of books for you that month. Customers will be likely to switch because we are offering multiple books each month for a low cost that are easily accessible and returnable. The hardest part to getting people to switch is how they will hear about us. We will need to have a great marketing team that will be able to push this company to the top. Our competitors will be public libraries, book stores, and online websites. We will be cutting down the prices for books unlike book stores ad online websites who charge about $20 per book. We hope this will incentivize people to subscribe and save using our website. The whole operation will be run out of a large warehouse so they we can keep all of our inventory together and accounted for. Location is not necessarily important since we are shipping all around the country. We will try to reduce cost and make things as efficient as possible to reduce the amount we have to pay in distribution and packaging. Once we get started we will have a better idea of the number of books and employees needed to get the job done in a smooth and efficient manner. 

Feedback: The feedback I received was very limited but overall it was positive. One person recommended that I should find a way to create a more fun atmosphere for children so that they are even more excited by the idea of a book subscription. Such as have an online kids space so that they can go on and chat with other kids around the world about the books they have read. This way we can spread the joy of reading all over the world to children of all ages. There have been proven health benefits as to how reading can reduce stress, expand one's vocabulary, improve memory function, and create stronger analytical thinking skills. All of these added health benefits will allow these children to have the necessary tools to allow them to succeed in life. I thought that this was a great idea mentioned in the feedback I received.  I changed my venture concept to include these changes so that we could encourage more children to take part in this business and spread the gift off reading all over the world. 

Your Exit Strategy

1) After a certain amount of time I would hope that I would be able to sell my business to a larger business for a decent profit. If I were to sell my business after an unspecified amount of time I would hope that after as much time and effort that I've put in I will have achieved what I planned and will be able to move onto my next venture. If I were to do this it will help me in my endeavors in the future because I will have the experience from my prior venture.

2) I selected this exit strategy because it has allowed me to reap all the benefits from my past venture and use them to enhance my next one. All of my past business partners will still be friends so that all of my social networking contacts will still be intact. It is so important to keep these contacts so that if you ever need help or assistance in different areas these contacts might be able to help you.

3) The exit strategy I chose has influenced the way that I made other decisions in my concept because it made me realize that  I have the ability to make this business the best it can possibly be. If I were to sell my business I would have put in so much time and effort to make sure that my dreams come true and it would show when I sell my  business. In my next venture there are still thousands of other opportunities that still need to be explored and with my prior experience I will be able to capitalize on another venture and succeed. A huge part of running a business is the ability to acquire resources and that is easier to do if you have left in good graces with the people you have worked with before. This will help to ensure that these contacts will be able to be used in future business deals.

Reading Reflection No. 3

1) The Art of Social Media: Power tips for Power users by Guy Kawaski has a general theme of the importance of social media while pursuing a career. There has been such a massive influx in the amount of users on social media in the past 15 years that has contributed to the role it plays in society. Nowadays social media plays a huge role in the way future employers will look at applicants social media to see if they are a right fit for the job. This helps to see how they are perceived by other people before they are hired into their company. This could help them to potentially avoid a employee that might be toxic to the company.

2) This book has helped to connect and enhances what i've learned so far in ENT3003 in a positive  way that has helped me grow as an entrepreneur. since social media is so prevalent in our society it is so important to guarantee that you make all social medias somewhat professional. You never know who will come across your social media and how it will influence them. Always try to put your best self out there for everyone to see.

3) If I were to create an activity for the class it would be to create a fake social media account that highlights all of the negative aspects that future employers would disapprove of. This would help all the participants see just how negatively the things they pot appear to future employers. The criticism and feedback they receive will help them to realize what is acceptable to post.

4) I was shocked to realize that more and more employers aren't using a reference list to check up on future employees but rather they are using social media. This way the employers can get  a first hand look at the candidates they are screening for a job. This scared me to realize that even though I don't post things that would negatively affect my career they are still able to see everything that other people have tagged me in.

Celebrating Failure

This past semester has been a whirlwind of failures, successes, accomplishments, and trial and error. I have really dedicated this year to trying to improve myself and help those around me but that doesn't mean I didn't experience failure while doing it. I have tried to focus more on school so that in the future I will be able to apply to graduate school. With the major i'm in it can be difficult at times but it's all about pushing through and keep fighting for what you want. There have been instances where I have failed exams and that began to discourage me on my path. I decided to change up my study habits so that maybe that would have a positive impact on my grade and as it turns out it did. It's all about trying again and again until you finally get the results you are looking for. Failure can be embarrassing especially when you're in a class that other people seem to be doing just fine in. One starts to get discouraged but you can't let that happen, you must keep working hard.  This class has changed my perspective on failure in a way that makes failure seem like a stepping stone to get you to the next step. It helps to celebrate failure so that you learn form your mistakes and are able to move on and keep working towards your goal.

What's Next?

Existing Market: At first I wasn't quite sure what might be next for my venture but I think I figured it out. Since I created a service that was all about bringing books to people for a low monthly cost we should expand into audio books, magazines, as well as DVDs to bring to people. In the interviews I conducted I explained my prior venture and everyone seemed thrilled about the idea. When explaining what I intend to do next they thought it would be a good idea but they also said that not many people rent DVDs any longer since streaming has become such a popular option. This made me think about how I could improve even more to bring my customers the best possible experience. One interviewee suggested we pair with a candle company to send a candle in each box because who doesn't love the smell of a candle while reading. This was an interesting idea that could be useful if we were to expand and partner with other companies.

New Market: My prior market included people of all ages not necessarily a single group of individuals. If I were to target a certain group it would be children in impoverished areas that don't have access to books. We would figure out a way to make the books even more affordable for low income families and partner with local schools in the area to bring books to all of the children in the surrounding area. This way we could change children's lives just by offering them books to read so that they might expand their vocabulary, increase their analytical thinking skills, improve memory, and reduce stress. These are just a few of the health benefits seen by reading a book. When conducting interviews with a few local schools it seems like this is something that would benefit a ton of children in low income neighborhoods for the better.


What surprised me the most was the new market and how important it is to give children the access to books while they are developing. Reading has so many health benefits that could change these kids lives just by picking up a book and reading for a little bit each day. An idea from the existing market that I found interesting was an interviewee suggested we add magazines to our subscription service. I thought that this would be something worth considering for the future.

Venture Concept No. 1

Opportunity: The opportunity I have identified was created to meet the unmet need of many Americans throughout the country when it comes to reading. There has been a decrease in the use of public libraries and book stores across the country. This is something that effects everyone from young children to the elderly. More people need to take the time and read so they can reap the positive benefits that they have on your mind, body, and intellect. Reading has been proven to have many benefits such as stress reduction, vocabulary expansion, memory improvement, and stronger analytical thinking skills. These are just a few of the reasons that reading is beneficial to your health.  For kids, reading is a way to start their journey into learning and education. This business will be very useful for parents with children who want to encourage their kids to read. The best thing about our business is that it is marketed for people of all ages. This way we can reach out to everyone and find books that our just right for them. Customers are currently satisfying their needs through the use of public libraries, book stores, and online stores. For many people that is all the options for attaining books, but we are trying to change that. Customers should not need to spend about $20 per book to only read it once when they can subscribe in our service for a low monthly cost and receive up to 5 books per month. They will all have to be returned by the end of the month in our easy to return book box to help with the troubles of shipping them back. Then the next month will arrive shortly after to start the whole process all over again all the while getting more people to read. This opportunity has the ability to spread all around the country to those who are looking to expand their minds and vocabulary to better themselves. If everyone in the country started to read at least one book a month we would be able to improve the literacy rate in our country all by picking up a book and reading for a few minutes each day. This window of opportunity will not close because as long as we continue to make history, history will need to be written about. This is how we pass down knowledge of our past present and future to other generations to come. Reading will never go out of style because it is how we connect to all areas of the world.

Innovation: The service I am offering is a book subscription service that allows customers to receive up to 5 books per month that will be delivered right to their door for a low monthly cost. We will have the option for customers to select from a list of interests for their likes and dislikes to help us create a customized list of books for them to chose from each month. This way we are helping them so select books that they might be interested in because for many people they feel overwhelmed with the vast selection of books. By doing this we are able to help them make a selection for the books they would like to order for that month. With each subscription box you receive there will be a box that you will send the books back in so it is easy and there is no need to go to the post office each time to return the books, just stick them right in your mailbox. The book subscription will vary on price depending how many books you would like to read each month as well as the length of time you would like to have the subscription for. The basic membership that comes with 3 books per month is $24.99 and members will receive discounts after they have been with us for 6 months continually. We hope to encourage as many people as we can to start reading by bringing books fright to their door each and every month.  

Venture Concept: The service I have identified will address my opportunity through bringing books to people right at their doorstep for a low monthly cost. Our main goal is get more people to start reading again so they can reap all of the important health benefits associated with reading. Such as; stress reduction, vocabulary expansion, increase in analytical thinking skills, and memory improvement. These are just a few of the added benefits to picking up a book and reading for a little bit of time each day. The business also wanted to help cut down on the prices that people would pay to buy a new book each month. Our service is designed to basically rent books each month and then return them for new ones that you will have selected on the suggested list of books for you that month. Customers will be likely to switch because we are offering multiple books each month for a low cost that are easily accessible and returnable. The hardest part to getting people to switch is how they will hear about us. We will need to have a great marketing team that will be able to push this company to the top. Our competitors will be public libraries, book stores, and online websites. We will be cutting down the prices for books unlike book stores ad online websites who charge about $20 per book. We hope this will incentivize people to subscribe and save using our website. The whole operation will be run out of a large warehouse so they we can keep all of our inventory together and accounted for. Location is not necessarily important since we are shipping all around the country. We will try to reduce cost and make things as efficient as possible to reduce the amount we have to pay in distribution and packaging. Once we get started we will have a better idea of the number of books and employees needed to get the job done in a smooth and efficient manner.