1)What was the biggest surprise for you in the
reading? In other words, what did you read that stood out the most as different
from your expectations?
I think the biggest surprise to me was the premise and theme
of the whole article. I was not aware that microfinance companies existed. I
would think that a business with profit margins that are that low would not attract
investors or would not stay in business for that long.
2)Identify at least one part of the reading that
was confusing to you.
I was a little confused about the structure of the
microfinance firm. I am not sure how the loan officers work and whether they
worked independently at home or if they worked at the local branch. It is not necessarily
important I guess but it does intrigue me because of the firm’s expansion rate.
3)If you were able to ask two questions to the
author, what would you ask? Why?
I would ask them what he thinks the biggest roadblock is for
these impoverished families who want to better their lives. I would also ask
the author what he thinks is the most important about the microfinance
business.
4)Was there anything you think the author was
wrong about? Where do you disagree with what she or he said? How?
I don’t think this article necessarily held any strong
positions or opinions. It was mostly a narrative of the impact and experiences
of the microfinance firm. So I don’t disagree with anything.
The whole semester was a very interesting experience. It was
sometimes very difficult for me because I was studying abroad in Madrid, but
the experience as a whole was a positive one. Many of the assignments required
you to either think critically or demonstrate good communication skills.
I think the most formative and memorable experience was
conducting all the interviews and being able to gather so much information from
people. Not only did it help me feel a lot more comfortable interviewing
people, but it also helped me learn how to properly interview someone. It also
required the most motivation and courage because you had to go out of your way
to talk to someone.
I am probably the most proud of the venture concept
assignments because it forced me to form and develop a complete idea. I had to
sit down and solve any issues in my path while I organized an idea that was
conceivable and effective.
Now I feel a lot more like an entrepreneur because of all
the skills that I had to develop over the semester. But I think I still have a
lot to do to develop the entrepreneurial mindset.
I recommend that future students take the assignments
seriously and put in enough effort into their venture idea. If you develop your
ideas seriously it will make the assignments easier and you will get a lot more
out of the course. I think that the work you put into the course really shows
at the end of the semester.
2) A reflection on the feedback you received from your last pitch. Describe what stood out to you as important, what feedback surprised you the most, what feedback you think was outright wrong or silly.
All the comments from my previous elevator pitch just mentioned that I did a good job improving my pitch. As much as I enjoyed the positive feedback it did not give me much to work with as far as improving or changing this new pitch.
3) What did you change, based on the feedback?
I only changed the introduction to something I thought was stronger and I elaborated on the struggle that students face. I had nothing to change according to the feedback I received.
Opportunity As a student on the verge of graduating college and about to start my career, I realized that there was a major problem with our education system. Our schools educate and prepare us for the academic rigor of higher education. Our institutions of higher education prepare us for the challenges we are to face in our careers. However, there is no organization or program, private or government funded, that connects the two key stepping stones in our professional careers and guides us towards the right careers for us. Whether they know it or not, every student K-12 has a need for career guidance, especially in their middle school and high school years. Currently, the only source of career guidance the average high school student receives is from their parents or their guidance counselors. This however is not enough if we want to give our future generations the best chance to pursue the best career for them. This is a huge opportunity to improve our education system and make in more efficient and effective. This opportunity however will only last until someone else steps up to address this need. If the solution can be applied nationwide, it could help millions of students save time, money, and could help them fulfill their potential. Innovation & Venture Concept
What students need is an innovative program that guides them along the right career path as they transition into high school and eventually college. The innovative program would have to implement several key features:
The career shadowing aspect of the program would expose the students to different professions and careers in various industries. This shadowing program would help students explore their career interests and perhaps introduce them to something they had not considered before. This exposure to different careers would help eliminate, create and modify career options as the student understands that that career in greater depth.
The program would also assign mentors who can connect with the students and help guide them along, answering any questions or concerns that the students may have. These mentors would change as the students’ interests and career direction changes.
The program would also provide counsel and career advice as the student progresses through his education. By periodically meeting with a trained career counselor the student can continue to narrow his career choices as he approaches graduation.
By working together with the student’s schools, the program can analyze the student’s academic strengths and weaknesses. Having a clear picture of where the student excels academically, the program can help guide the student toward a career he can be successful in.
Although this program is initially intended to be part of a nonprofit organization, it could be privatized and its services could be sold to private schools. The price of these services have not been established yet since I have no idea would be an appropriate price. That being said I think there will be many parents, students, and schools interested in this idea because it is a major issue as the students begin college. And seeing as there is currently no competitors, I think it would be easy to capture the interests of many students nationwide. The most important thing is to have this service available to as many people as possible, and to give them the best experience they could have. And being a non-profit, we can rely on other organizations or on government support to help finance our services. Three Minor Elements I think my most important resource will be my clear vision for this venture and my motivation to make this idea a reality and a success.
The next service the program could provide could be connecting students to different internships or volunteering opportunities that could help them on their professional journey. Another possible step for the program is to partner with companies like Monster.com that can help connect students to jobs and or internships.
In five years I want this venture to gather enough support to be implemented at least locally. As I evolve as an entrepreneur, I will try to make this venture a reality and get it to the point where it can grow steadily and continue to help students as I move to the next venture. In the following decade I want to have gained enough experience with this venture so I can start to work in the business side of the design industry. Summary of Feedback Most of the feedback I got was other students relating to the issue and opportunity at hand. A lot of them reinforced the fact that they never got the proper help as far as career counseling and that they believe it is a good idea. One suggestion that I got was to create partnerships with companies like Monster.com so they can connect students with job opportunities. Changes I thought the suggestion to partner with job search companies like Monster.com was a great idea so I included that in the future plans of the program.
1)What was the biggest surprise for you in the
reading? In other words, what did you read that stood out the most as different
from your expectations?
I was surprised to read that some companies promote
innovation by letting employees use company time for their own projects. I feel
like big corporations would find that to be a waste of time and company
resources.
2)Identify at least one part of the reading that
was confusing to you.
I found it a little odd that companies would take such
rigid, structured, multi-step plans to try and foster innovation. I think it’s counterproductive
to try and come up with new ideas using creativity by using such an uncreative
model.
3)If you were able to ask two questions to the
author, what would you ask? Why?
I would ask the author what the most important aspect of innovation
is and why. I would also ask the author what he thinks is the most important
aspect of social responsibility is for a corporation to consider.
4)Was there anything you think the author was
wrong about? Where do you disagree with what she or he said? How?
I don’t think it was the author’s opinion but I do think
that having such a structured mechanism for innovation is not the best way to
arrive at innovation. I think if you eliminate structure while still holding
employees accountable for being productive you could probably come up with much
more innovative ideas.
1)To be quite honest, I didn’t not know that we
were actively trying to achieve SEO for our blogs using keywords and other
social media. I did however try to be consisted with the wording of my concept
and the general idea of it. I also tried to tie all the posts and assignments
together to keep it cohesive.
2)Since my venture idea revolved around a career
guidance program that features a career shadowing option some of the words I
consistently used were education, career shadowing, career guidance, and the
name of the venture Careerquest.
3)The only social media that I used to promote my
blog was blogger itself by posting the link to my blog. I was surprised however
that my posts received a lot more views and comments that were required by the
assignments.
4)My most “viral” posts was napkin idea #1 and elevator
pitch #2. Both of these had the same about of views and are way ahead of all
the other posts. I think they received the most traffic because they were both
engaging and discussed an issue that is very relevant among college students.
5)Unfortunately I could not find my post through
several pages of Google results. I think it was because it did not generate
enough traffic since I didn’t know we were supposed to promote it through other
social media.
My impression of the first interview is that is seems like I
do not know a lot about entrepreneurship. The questions I asked could have been
more in depth in order to receive a more meaningful answer. For the second
interview I wanted to use my questions to demonstrate my knowledge and
development in entrepreneurship. It was pretty difficult to get a hold of the
entrepreneur since im studying abroad in Madrid and he has a busy schedule but
I was able to interview him through email.
-As an entrepreneur, how do you identify an opportunity in a
market?
Savni: “If I see there is a certain need from customers, I
try to evaluate whether I can satisfy that need. As far as the hotel business goes,
if there is a location where there is a lot of demand from tourists, visitors
and locals that need lodging, I evaluate whether it makes sense to build
something new or improve an existing business.”
-What is the most important lesson you have learned as an
entrepreneur?
Savni: “I learned the hard way that not all of your
businesses are going to work out. I had several hotels that I had to walk away
from because there was not enough demand or the market was not right.”
-What advice would you give to young entrepreneurs?
Savni: “When I was a very young entrepreneur I explored
different jobs and careers. Working in different environments helped me
discover different opportunities and helped me focus on the ones that I wanted
to work on.”
I felt a lot more comfortable with this interview because I
felt like I knew more about entrepreneurship and I could ask him better
questions and understand his responses better. It was hard to get a sense of
what the entrepreneur thought because it was through email but he did mention
that the tougher questions made him think hard, which I think is a good sign.
1)What was the biggest surprise for you in the
reading? In other words, what did you read that stood out the most as different
from your expectations?
I thought venture valuation would be a simple assets minus
liabilities type of thing. But it was a little more complex than that. I did
not take into account the startup cost involved in the mix.
2)Identify at least one part of the reading that
was confusing to you.
It was all fairly simple to understand. There was only a
little terminology that I hadn’t seen before.
3)If you were able to ask two questions to the
author, what would you ask? Why?
I would ask how startup cost is evaluated into the selling
price and how much it matters. I would also ask the author to elaborate on how
he determines the right time to sell a venture.
4)Was there anything you think the author was
wrong about? Where do you disagree with what she or he said? How?
I don’t disagree in with anything specific that the author
said. But I think that there is less emotional biases because I think people
understand now more than ever that business is business.
This past semester I have been studying abroad in Madrid.
One of the hardest things for me has been to adapt to my Spanish grammar class.
Growing up in a family that spoke Spanish help me become a very fluent speaker.
Although my conversational skills were good, my Spanish grammar was rarely
tested. Because of this, I was having a hard time in my Spanish grammar class,
especially with accents. I consistently under-performed in tests and quizzes. I
had to try and do something different if I wanted to pass the class.
As I watched the other students progress and improve their
grammar, I because a little discouraged with my situation. Although I
understood that failure can be a good thing, it was tough to not see any
improvement. I decided to look at the issue differently and I changed how I
studied what they were teaching me. I started to see improvement and I ended up
passing the class. I learned that if you keep failing and you don’t change your
perspective, you will continue to fail.
Being a perfectionist about most things, and someone who
likes a challenge, I have very mixed feelings about failure. On one hand failure
is the enemy. Being a competitive athlete all my life, it’s against my nature to
welcome failure especially as others succeed. On the other hand failure
presents a challenge by making you aware of different areas you can improve on.
This paradox brings out interesting reactions from me in different situations. During
athletic competition it can bring out motivation, adrenaline or rage. When I
fail in areas of creativity it challenges me to focus, concentrate and look at
things differently.
This class has helped reinforce the idea that failure can be
a good thing because it tells you what does not work. Failure helps you refine
your final product, improve your service or think differently. This
reinforcement has helped me be more open to taking risks than I was four months
ago.
1)I intend to leave the nonprofit venture after it
has grown and stabilized enough to be able to continue meeting the goals I have
established. I imagine that would be 5-10 years after it starts to implement
the Careerquest program to young students. I would leave its direction and its
future in the hands of someone that shares a passion for its success and who
has a similar vision for its future. The ultimate goal is to eventually have it
established nationwide so that students all over the country can enjoy the
benefits it offers. Although it is a topic and an idea that I am passionate
about, there are other interests that I would like to pursue.
2)I selected this exit strategy because I think I
would be able to gather a lot of experience as I develop this venture until I
am ready to leave it in capable hands and explore new interests.
3)I don’t think my exit strategy has influenced
any other decisions I have made. I think even if I wanted to stick with the
venture until I retire I would still make the same choices. The choices I have
made have been based on what is best for the growth and success of the venture.
1.The next thing for my venture would be to offer
more extensive career counseling, especially for high school juniors and
seniors.
2.(See Video in New Market Segment)
3.I think the next step moving forward for the
venture would be to include events like job fairs especially for the high
school students. I also think that providing services like mock interviews and
resume workshops would help the students develop professionally.
Services like these will grow the existing
market because more students and parents will want to benefit from the new
services offered.
New Market
1.A new market I could target is the first year
college students that might benefit from the services offered to high school
students in the program.
2.I could offer very similar services to them as I
do with my original market, such as the career shadowing and the career
counseling services. Some college students might already have access to this, but
some might look for some career services we offer that their college doesn’t.
3.(see video)
4.I think that this market may not be a great one
to pursue because some the needs of the new market are already met. Most
college students will already have access to a career guidance center at their
college, and most of the benefits of the program are geared for middle school
and high school students. Because of these reasons if would be better to focus
on the current market and look for ways to expand it.
I thought that maybe college students would
not be interested in the program because they are too busy and it is already
too late. I was right to some extent because most of them already have a major
chosen so the program would not help them as much.
1). The biggest surprise to me was reading that it is not good to grow too quickly because you can lose vision of your planning and strategy. I always thought that firms would want to grow as quickly as they can to dominate the market.
2). To me it was confusing how the stabilization stage is a swing point where the firm could take off and be a success or crash and fail. If the business is stabilizing, how can it fail?
3) I would ask him what the “hypnotic effect” of the growth stage is because he talked about it but never elaborated. I would also ask him how the stabilization stage can lead to failure for a firm.
4) I don’t really disagree with anything the author said, it all made a lot of sense to me. There was just a few confusing points that he made.
Opportunity
As a student on the verge of graduating college and about to start my career, I realized that there was a major problem with our education system. Our schools educate and prepare us for the academic rigor of higher education. Our institutions of higher education prepare us for the challenges we are to face in our careers. However, there is no organization or program, private or government funded, that connects the two key stepping stones in our professional careers and guides us towards the right careers for us. Whether they know it or not, every student K-12 has a need for career guidance, especially in their middle school and high school years. Currently, the only source of career guidance the average high school student receives is from their parents or their guidance counselors. This however is not enough if we want to give our future generations the best chance to pursue the best career for them. This is a huge opportunity to improve our education system and make in more efficient and effective. This opportunity however will only last until someone else steps up to address this need. If the solution can be applied nationwide, it could help millions of students save time, money, and could help them fulfill their potential. Innovation & Venture Concept
What students need is an innovative program that guides them along the right career path as they transition into high school and eventually college. The innovative program would have to implement several key features:
The career shadowing aspect of the program would expose the students to different professions and careers in various industries. This shadowing program would help students explore their career interests and perhaps introduce them to something they had not considered before. This exposure to different careers would help eliminate, create and modify career options as the student understands that that career in greater depth.
The program would also assign mentors who can connect with the students and help guide them along, answering any questions or concerns that the students may have. These mentors would change as the students’ interests and career direction changes.
The program would also provide counsel and career advice as the student progresses through his education. By periodically meeting with a trained career counselor the student can continue to narrow his career choices as he approaches graduation.
By working together with the student’s schools, the program can analyze the student’s academic strengths and weaknesses. Having a clear picture of where the student excels academically, the program can help guide the student toward a career he can be successful in.
Although this program is initially intended to be part of a nonprofit organization, it could be
privatized and its services could be sold to private schools. The price of these services have not been established yet since I have no idea would be an appropriate price. That being said I think there will be many parents, students, and schools interested in this idea because it is a major issue as the students begin college. And seeing as there is currently no competitors, I think it would be easy to capture the interests of many students nationwide. The most important thing is to have this service available to as many people as possible, and to give them the best experience they could have. And being a non-profit, we can rely on other organizations or on government support to help finance our services. Three Minor Elements
I think my most important resource will be my clear vision for this venture and my motivation to make this idea a reality and a success.
The next service the program could provide could be connecting students to different internships or volunteering opportunities that could help them on their professional journey.
In five years I want this venture to gather enough support to be implemented at least locally. As I evolve as an entrepreneur, I will try to make this venture a reality and get it to the point where it can grow steadily and continue to help students as I move to the next venture. In the following decade I want to have gained enough experience with this venture so I can start to work in the business side of the design industry.
1)What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
I think the whole nature of the article was surprising. Innovation and a strategy for innovation is a lot more complicated than I originally thought. It seems like finding a successful innovation strategy that works is the holy grail for today’s tech companies. 2)Identify at least one part of the reading that was confusing to you.
It was confusing when the author said that innovation is not creating customer value directly. I don’t understand why it wouldn’t.
3)If you were able to ask two questions to the author, what would you ask? Why?
I would love to ask the author how innovation and an innovation strategy can be applied to a service company that does not produce any product. I’m curious if the service itself would need to constantly try and be innovative or not.
I would also ask him if he thinks that having technological innovation is more important, or if business model innovation is more important for a business to thrive. I would like to know how he prioritizes the two. 4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I would only argue that innovation CAN directly add customer value because customers always want the newest, most cutting edge products.
My business idea is really a non-profit so it is hard to
clearly determine any revenue drivers. But as an organization that would work
with private and public schools the money would have to come from private
schools or the department of education. If the organization was unable to be
funded by either, the money could come from directly from families or other
organizations who are interested in the program.
I don’t offer tangible product but I do offer a service. If
I was to expand my service in some way I would offer more extensive career
guidance as the students get closer to graduating from high school. There are
many parents who are not sure how to help their children get to where they want
to be, so they cannot offer help or advice in the career pursuit of their kids.
Once the students has narrowed down their choices of what career they want, my organization
could offer a career plan and timeline of what they need to do (academically,
financially etc.) to reach their goals.
This service goes beyond just telling the student what their
best career option is, it lays out an action plan to help the student
accomplish their goals. It definitely improved the customer experience and increases
the overall benefits the organization has to offer.
Since my organization provides a service and not a product I
cannot compare it to any amazon product. However for practice the product I chose is the Photive PH-BTE50 Bluetooth 4.0 Wireless Sports Headphones.
These are wireless headphones that connect through Bluetooth
and are designed for sports and workouts.
Most of the reviews for this product were not great. There was a great deal of them that complained about the durability of the product, claiming that the product broke as early as a week after purchase. They also talked about their disappointment in sound quality and about the fact that they do not stay on your ears very well.
I would change several things about this product starting with the quality of its construction and materials used in the casing and wiring. That would improve the products durability and sound quality. I would also change the design so that it goes around your ear for support and stability.
This product however would not be tied in with my organization at all.
1.Experience of going through public education
system first hand.
a.This is very valuable since this experience will
help shape the program, and will point out what is needed from the program.
b.This resource is not rare, since most US
students have a lot of experience in the public school system.
c.However, this is an experience that you cannot
imitate unless you have gone through it yourself.
d.You cannot substitute this resource because the
value of it comes from it being first hand.
2.Personal relationships with principals and
teachers.
a.This is very valuable because these people have
a lot of experience and connections in the public education system.
b.This is not rare since there are plenty of
students who develop relationships with teachers and principals.
c.You cannot copy the personal relationship that
someone has so it is not very imitatable.
d.I don’t think you can substitute the valuable
experience or the connections these people have, unless you have it yourself.
3.Connections to families with kids for feedback
and ideas.
a.It is very valuable since this feedback will
guide the program.
b.This is probably the most common resource.
Everyone has this resource available to them.
c.You cannot really imitate this, maybe with
surveys but the genuine personal connection that will get you honest answers is
hard to imitate.
d.You could maybe substitute this with surveys but
it might not yield the same results.
4.Written and oral communication skill.
a.This might be the most valuable or one of the
most valuable resources. These skills are crucial to being able to connect with
others and push this project forward.
b.These skills in general are not rare but having
these skills really developed and really sharp is rare.
c.These are skills that you either have or you don’t
have. They cannot be copied.
d.You can hire someone that has these skills but
you cannot substitute it another way if you don’t have it.
5.Personal relationships with business owners and
professionals
a.This is the counterpart to the personal relationships
with teachers and parents. It is highly valuable because I will get feedback from
the professionals that would be shadowed by the students.
b.This is not rare if you have had good
experiences with former bosses or other professionals.
c.Once again this is not easy to copy because it
is personal relationships.
d.This cannot be substituted unless you pay
someone for their feedback and opinions and connections.
6.Work experience in different industries.
a.This is valuable because of the skills attained from
the experiences and the personal connections made.
b.This is not rare because most people have worked
very different jobs.
c.This is not hard to copy because most people
already have that.
d.Work experience cannot be substituted but is
probably the most common resource.
7.Access to college students for feedback and
first hand experiences.
a.This is the most valuable source of information
for the venture since it centers around students and their experiences.
b.This is not rare at all since there are college
students everywhere.
c.This could be hard to copy but not hard to
obtain.
d.You can gather information online or through
surveys if you don’t have direct access to students.
8.Professional connections to executives in HSF
(Hispanic Scholarship Fund) and Coca-Cola.
a.This could be valuable if I have to reach out to
organizations or corporations to fund the venture.
b.This is somewhat rare but if you look hard
enough and are persistent enough you can reach the right people.
c.You cannot copy these relationships but it is
not too hard to create them.
d.You can look for financial support somewhere
else so you could imitate these relationships.
9.Creative thinking skills because of experience
and talent in visual arts and design.
a.This might be the most valuable skill, not only
for this venture but in general. These creative thinking skills separates me
from most of the other people that might have the same idea. This skill will
create new, original ideas and will help me solve problems others cannot solve.
b.This is a rare skill since because not many
people have it, let alone develop it.
c.You cannot copy these skills, which is one of
the reasons it is so valuable.
d.You can hire someone who has this skill but it
cannot be imitated otherwise.
10.Fluent in spanish and english.
a.This is valuable in order to communicate with
others and be able to reach out to other markets.
b.This is somewhat rare because not everyone has
them but they are not hard to find.
c.You cannot copy these skills but you can hire
someone that has them.
d.You can imitate it by hiring someone else.
My top resource is the creative thinking skills I have
because it helps be solve complex problems by thinking about it in a different
way than others. If you don’t have this skill you cannot imitate it or copy it.
Which gives me a clear advantage since the skill is already rare to begin with,
especially when it is combined with the business knowledge I have acquired through
college education.
Eric Thomas
1)Eric Thomas is a motivational speaker known as the hip hop preacher. He works with schools all around the country talking to students about success, motivation and determination.
2)He is the industry expert since he is providing a service to schools that will help students stay on the right path.
3)I remember he visited my schools so I searched for him on the internet and sent him an email since I’m in Madrid.
4)We exchanged emails and he agreed with the fact that students definitely need a career guidance program.
5)His knowledge when it comes to communicating with schools and different school district administrations will be very helpful.
R’Club
1)R’Club is a nonprofit organization that provides child care services to many elementary schools.
2)This organization would be a supplier since it supplies the elementary schools with needed child care services.
3)I remember going to R club after school as a child and how closely they worked with schools. I emailed the organization through the website and they directed me to Karen Pandy.
4)I sent the organization an email explaining my idea and they connected me with Karen who is willing to answer my questions and point me in the right direction.
5)This organization would help me organize an after school program if I feel like my idea would not work integrated into the school day.
Lisa Freeman
1)She is the principal at Pinellas Park Elementary school, where I went as a child.
2)She would be the market expert because she works with schools, parents, teachers as well as the education board of the county.
3)I gathered information on my old school and reached out to her with an email explaining my idea and asking her for her thoughts
4)As I said I sent her an email and she responded with a brief message supporting the idea.
5)She would be a great source of knowledge if I needed to approach the board of education or different schools.
Reflection-
I think this experience was very helpful in opening up networking opportunities and making contact with people that can help guide you and your idea in the future. It made me realize how easy it is to reach out to someone with a lot of experience in the industry or field you are interested in. I will certainly do this again if find myself really interested and invested in a certain idea.
-My human capital is unique because of the combination of the following things:
1)I have a background in visual arts
a.I went to a visual arts magnet program in middle school and high school
b.I am currently working on a studio art minor
2)I have experience competing in high level competition
a.I competed in varsity soccer and tennis in high school
b.I played competitive region tennis tournaments
3)I am fluent in English and Spanish
4)I have experience interacting directly with customers and patients
a.I have experience working in a hotel and dental ER.
5)I am able to stay composed and focused under pressure
a.The pressure and adversity created by athletic competition and academic rigor has helped develop this ability.
-The following voice messages are the interviews from the people that know me best.
-There were a lot of things that were repeated in every interview and that I included in my list. My abilities and perspective as an artist was a reoccurring theme in the interviews as well as my mental and emotional stability. However, my list consisted a lot more of tangible abilities that can be useful in a work setting while the interviews mentioned things like my maturity and my relationship with those around me. I think the interviewees were right about who I am and what I have, and they even mentioned things that I did not think of. I think I would keep my list as it is because I think it is closer to what the assignment asked for, but there are certainly things that were in the interviews that I did not mention or think of when I made my list.
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The was the most straightforward chapter yet. It just discussed material that has already been covered in finance classes. So there was nothing that stood out as different.
2) Identify at least one part of the reading that was confusing to you.
I already knew the basic financial statements so nothing was confusing.
3) If you were able to ask two questions to the author, what would you ask? Why?
I honesty have no questions for the author on this chapter. It is very straightforward and quite frankly pretty boring. It just explains and breaks down financial statements
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
Once again this chapter did not have a lot of opinions from the author. It was very cut and dried.
2) A reflection on the feedback you received from your last pitch. Describe what stood out to you as important, what feedback surprised you the most, what feedback you think was outright wrong or silly.
Several things from the comments stood out to me. Most of
the students said that the beginning of the pitch really grabbed their
attention and that I looked professional in the video. They all noticed the
difference between that video and the previous one which did not include the
mentorship program. I think all those points were important but what surprised
me the most was the fact that a couple of them mentioned that I lacked
enthusiasm in my speech. I don’t think there was any comments that I thought
were wrong all silly. Thankfully the students gave very constructive criticisms.
3) What did you change, based on the feedback?
I tried to be more enthusiastic in my new pitch and less monotone. That way I'll be able to hold the viewer's attention all the way through.
1)What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
- I did not expect that there would be so much information on social media marketing. I thought since social media and its massive growth is something relatively new, there would not be so much research and information on it at this stage.
2) Identify at least one part of the reading that was confusing to you.
- I am not sure what the author means when he talks about developing an information gathering instrument. I know he describes a questionnaire as one of these instruments but I wonder what other alternatives they are,
3) If you were able to ask two questions to the author, what would you ask? Why?
-What are some other examples of information gathering instruments? So that I am aware of other tools available.
-What is the most overall effective marketing philosophy?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
-The author talks about how social media marketing does not control the conversation between customers. However, I disagree because I think that if you can control the message you send and the way it is framed, you can control the conversation a certain way.
1. My name is Juan Muñoz and I am a third year economics
major. I have a background in art and design and I am currently working on a
minor in studio art. I have worked for several small private businesses
including hotels, county clubs and dental practices. I see my idea as more of a
non-profit organization rather than a business. My hopes are that this idea
grows enough to be able to help many kids nationwide and that I am there to
help it grow and succeed until it reaches a point where it is making a big
difference. I think this idea could potentially be a major part of my life and
possibly a lifelong career or a major stepping stone to a lifelong career.
2. What I am offering to students k-12 is the opportunity
expand their knowledge and understanding of different careers and occupations.
I believe that there is a major flaw with our education system because there is
very little if any career guidance for students throughout their years in
elementary, middle and high school. My organization would help guide them to
the career that is right for them by exposing them to different career paths
through a shadowing program. The organization would work along with their
education institution to come up with possible careers that would be right for
the student according to their academic strengths, their preferences and their
interests. The program would allow the kids enrolled to shadow professionals
along with other kids and trained personnel every couple years as their
preferences, interests, and academic strengths change. My organization would
try to eliminate or reduce the amount of high school graduates that start
college without an idea of what they want to major in.
3. My program would be aimed towards students k-12 of all
different types of backgrounds that display good behavior and a promising
academic future. Ideally my program would eventually be available to all
students k-12 but at least in the beginning the program would have to start
small until gathers more resources and support. My program would be offered to
private as well as public schools although I imagine that it would be very
difficult to gain approval by a public education board because of the long,
complex process of approval.
4. I think that many organizations, educational
institutions, families and even the government would be interested in
financially supporting my idea because it would improve the education system
and the economy in the long run if it is utilized nationwide. By having
students start college with a good understanding of what they want to do and
what they are good at, students will graduate faster and will enter fields and
industries which are better suited for them. This would help improve the
workforce and bring a new generation of professionals with more competence and
potential in their fields. The students would be interested in participating in
the program because it would help them explore different professions, expand their
perspective, and alleviate the anxiety of not knowing what they want to study
as college approaches.
5. I don’t think that I necessarily have any special
competencies or experience that would set me apart from anyone else. However,
this is an issue that I am passionate about and that has been troubling me
since my senior year of high school. This issue has also been brought to my
attention over and over during my college years as I talk to students who never
received the professional guidance that they needed during their k-12 years. I
firmly believe that my idea could make a big difference for many students and
could help people live happier, more fulfilling lives. This belief and this
passion for my idea sets me apart from other people that could start an
organization like this.
I think all of the elements described in my napkin idea fit
together. The only element that perhaps stands out is the fact that I don’t have
any special competencies or experience that would make me a unique or vital
part of this idea. However, I don’t think that this idea necessarily needs any
special skills or experience. It would be great to have experience managing a
program, however I don’t it is necessary if you have a clear idea and an
organized plan.
The feedback that I received did not have any suggestions or
criticisms. Everyone who commented on it thought it was a good idea and
explained how from their personal experience how they would have benefited from
this program. I did not have to change anything since no one gave me any
suggestions. The five points that were highlighted and praised by my peers were:
1.Enrollment at an early age.
2.Variety in career exploration
3.Give kids a good idea of their future career
4.Decrease the number of times students switch
majors in college
1)What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
I was surprised to see how quickly and dramatically the sources of capital are changing. I didn’t not know that commercial banks are decreasing so much while venture capital firms are growing rapidly since the economic recession.
2)Identify at least one part of the reading that was confusing to you.
I started to get a little confused when the author was talking about the different types of stock within equity financing. That’s something I know very little about but that I recognize is very important when I will be looking to invest.
3)If you were able to ask two questions to the author, what would you ask? Why?
I would ask what they personally think is the best source of capital for a start-up venture. I would also ask him what is the biggest deciding factor for VC firms when they are considering investing. If I ever have to present an idea to a VC firm I would be sure to focus on that.
4)Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
This chapter was pretty straight forward without many opinions or abstract ideas. There wasn’t anything to disagree on, especially since a lot of the information was new to me.
1)The local entrepreneur that I spoke to, who did not want to be recorded, is the part owner of a popular local Mexican restaurant “Takos al Pastor”. The owner described his “20 percent customers” as young adults and college students who want a place that serves good food at cheap price. He described most of his customers as outgoing, social and very friendly. He also said that most of them probably go to the restaurant right before they go out to bars or clubs, especially during the weekeneds.
2)Below are the voice recordings or the three people I talked to that seemed to fit the description the owner gave me.
3)For the most part the entrepreneur was right since the customers were young students who do go out frequently. However, the customers did not specifically identify their need for good food at cheap prices as the owner thought. They all seemed friendly and approachable like most of the people you find at that restaurant, but the last customer seemed to fix the profile better than anyone. I think the entrepreneur has a good idea of who his key customers are, especially since the restaurant is really small and all the customers closely surround the kitchen. I think the close, intimate environment really helps the kitchen and the owners connect with their customers.
