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.

Your Venture's Unfair Advantage

1) My Idea

• V- Specifically designed business that brings books to your door each month 
• R- People have the option to select their interests when signing up 
• I- Not hard to copy but will be making improvements to make it better
• N- Yes, but as a company we pride ourselves on creating a personalized list for every customer to enjoy

2)  Feedback

• V- Allows me to hear raw intel of what people think so we can improve
• R- It gives an inside look into the customers thoughts about the products 
• I- Feedback is a necessary part to growing your business
• N- Asking customers how we can better their experience on the website 

3) Delivering books to your doorstep 

• V-Allows subscribers the ease of receiving books at their door without having to leave the house
• R- Helps those who can't go to the bookstore as often as they like have the option to receive them  at home 
• I- Not difficult to copy seeing as we are a subscription service
• N- People could utilize their local libraries instead of this service

4) Customers of All Ages

• V- Allows us to tap into an entire market of people from all ages giving us the ability to have a vast selection of books. 
• R- Not many companies can say that they can market to people of all ages 
• I- Not hard to copy but would require a product or service that would be looking to market to everyone 
• N- Yes there are other subscription services that have the same concept 

5) Management Experience 

• V- Being able to lead a company with good management skills will inspire our employees to work harder 
• R- Able to connect with employees to make sure they are happy so they can work hard for the company they are passionate about 
• I- It is easy to be a good manager you just need to exude confidence, compassion, and be empathetic to others
• N- Being a good manager is about being able to work well with others and still lead them 

6) Connecting with schools and other companies

• V- Able to see the insight into other companies to better ours
• R- Gain valuable knowledge into the ins and outs of having a book company 
• I- Not hard to imitate but it is very useful 
• N- Talking with competitors  

7) Working with local schools 

• V- Able to see what types of books children are interested in 
• R- Helps us to see what selections we should have on file 
• I- Anyone can work with local schools so it's not hard to imitate 
• N- Companies such as the scholastic book fair would be very helpful to talk with 

8) Working with the elderly in assisted living facilities 

• V- Able to see what elderly folks are interested in reading
• R- Helps to see how many different selections of books we will need 
• I-  Not hard to imitate just need to find people to work with
• N- Yes but I feel like most people don't see the elderly as a huge market to tap into 

9) Personalized list of books each month to chose from

• V- Easier for the customers to select books for that month
• R- Personalized to each customer 
• I- Not hard to imitate just need to see what each customer likes and dislikes 
• N- Yes but they way we use them is to help us create a list of suggestions for each customer 

10) Low monthly cost

• V- More people will be inclined to subscribe if it is a low monthly cost 
• R- People enjoy subscription service so why not create one that will help them expand their vocabulary and minds
• I- Easy to create a low monthly cost if you have the right suppliers and ways to expeditie processes 
• N- Yes amazon offers 2 day shipping for all its prime members

After conducting the VRIN analysis I feel like the top resource is the feedback we receive from our customers and business associates. Everything we get back we go through so that we can improve for our customers and make it a seamless online experience that will keep them wanting to resubscribe each month. It is just so valuable to hear what customers think and new ideas they create so that we can continue to grow. 

Reading Reflection No. 2

1. For the second reading reflection I decided to read Mindset: The New Psychology of Success, Carol Dweck. I found this book very interesting to read because it pertains to what I am majoring in. The general theme throughout the book is that the view you adopt of yourself will profoundly affect the way you live your life. There were two main classifications of mindset, fixed and growth. A growth mindset is one that believes your  basic qualities are ones that you can cultivate and grow overtime. Whereas a fixed mindset is one that says your basic qualities are engraved in you and you are who you are. 

2. I felt as if this book helped me to expand my insight into my own mind in a way that will positively enhance my learning throughout this class. The main point of Carol Dweck's book is that a growth mindset is beneficial because you are more open to new ideas and concepts. Carol Dweck believed that you need to confront your challenges and keep working on it which is exactly what a growth mindset sets to accomplish. This is extremely important to an entrepreneur when they are going through trials and errors to find the perfect product. 

3. If I were to design an exercise for the class based on Carol Dweck's book, I would create a questionnaire for everyone to fill out. This would help to determine which mindset each person in the class has. It would be a similar questionnaire to the Myers Briggs Type Indicator which helps people to decide which type they might fall into.  That being said that doesn't mean that someone can't fall towards the middle of the spectrum. 

4. Something that shocked me about Carol Dweck's book is that your mindset you adopt of yourself can be seen as early as four years old. It amazed me to think that your personality can really begin to show at such a young age when children's brains are still developing. 

Elevator Pitch 3

Reflection:
I received positive feedback on my previous elevator pitch, therefor my main focus was building off those strengths in this video. I attempted to appear straightforward and direct while avoiding hesitations and pauses. I also tried to have a similar tone / attitude as the first elevator pitch. Thanks for the helpful feedback, I hope this video more effective than the last.