Your Venture's Unfair Advantage
1. My perseverance
This resource is very specific to me and is very valuable because not all business owners possess the same perseverance as me.
2. My background in gaming
This resource is not very rare but not every business owner has background in what they are selling.
3. Our state of the art internal cooling technology
This resource is rare and valuable because no other company has been able to make a small internal cooling system that can fit inside a controller.
4. Our financial resources
This resource is valuable but not rare because we need money but everyone has money.
5. Our grasp on the target market
This resource Is valuable because you need to know your target market before you spend advertising money.
6. Our understanding of the target market
This resource Is valuable because you need to know your target market before you spend advertising money.
7. Our employees
Our employees are valuable but not rare because they are hardworking and needed but there are plenty of people we could hire.
8. My dedication to success
My personality trait is valuable and rare because I will never stop until I'm successful.
9. My hardworking nature
My personality trait is valuable and rare because I will never stop until I'm successful.
10. My experience meeting with store owners
My experience meeting with store owners in other areas has given me valuable experience with how to convince a store owner to carry a certain product.
Top resource is experience because I have the ability to know how to react in certain situations based on past experiences.
Wednesday, July 17, 2019
Friday, July 12, 2019
22A - Elevator Pitch No. 3
Watch video here -> Pitch Link
Reflection: I realized that I needed to dress more professionally. I also got feedback that my video should be longer and I should be more enthusiastic. I think all of the feedback I received on my last pitch video were fairly accurate and I acknowledged them so I would be better the next time
Change: I decided to dress more professionally for this video because you have to dress to impress. I also made my pitch a little longer than my other two pitches. Also, I tried to be more enthusiastic for the audience and explain how our product differs from the competitors.
Reflection: I realized that I needed to dress more professionally. I also got feedback that my video should be longer and I should be more enthusiastic. I think all of the feedback I received on my last pitch video were fairly accurate and I acknowledged them so I would be better the next time
Change: I decided to dress more professionally for this video because you have to dress to impress. I also made my pitch a little longer than my other two pitches. Also, I tried to be more enthusiastic for the audience and explain how our product differs from the competitors.
21A - Reading Reflection No. 2
Reading Reflection No. 2
1. The general theme of How to Fail at Almost Everything and Still Win Big by Scott Adams is that the key to happiness and success in life is for you to look after yourself and your economics before you worry about your friends or family. He claims that if you do not look out for yourself first, you become a burden for your friends and family.
2. The book connected with and enhanced what I have learned in ENT 3003 because the book shows how you need to have a plan and an outline before you achieve a goal and we learn in this class that it is more important to find a problem for a solution then achieve a goal because there has to be a clear need for a product. The book also shows that you should do what you think you are good at because that is where you have the best chance of excelling.
3. I would ask students to talk about which 5 jobs they would sample to see where they feel comfortable enough to task a risk.
4. The one thing I read in this book that differed most from my expectations was that Adams shows that having mediocre skills and knowing how to use them as well as having good networking skills, you can be valuable. I never thought that just having skills that are mediocre could create such a successful career for myself, but Adams shows that you can.
1. The general theme of How to Fail at Almost Everything and Still Win Big by Scott Adams is that the key to happiness and success in life is for you to look after yourself and your economics before you worry about your friends or family. He claims that if you do not look out for yourself first, you become a burden for your friends and family.
2. The book connected with and enhanced what I have learned in ENT 3003 because the book shows how you need to have a plan and an outline before you achieve a goal and we learn in this class that it is more important to find a problem for a solution then achieve a goal because there has to be a clear need for a product. The book also shows that you should do what you think you are good at because that is where you have the best chance of excelling.
3. I would ask students to talk about which 5 jobs they would sample to see where they feel comfortable enough to task a risk.
4. The one thing I read in this book that differed most from my expectations was that Adams shows that having mediocre skills and knowing how to use them as well as having good networking skills, you can be valuable. I never thought that just having skills that are mediocre could create such a successful career for myself, but Adams shows that you can.
20A - Growing Your Social Capital
Growing Your Social Capital
The first person I am going to talk about fulfills the domain expert area. This person is Brad Gamble and he is my supervisor at The Selling Factory. He co-founded the company, which provides the service that I would like to produce. The Selling Factory helps other companies find prospects and ultimately partake in outbound call and email campaigns. I found this person because he is my boss. We talked about how he came about founding this company and he just asks that I do my job well and help his company succeed. He could help me enhance my ability to exploit an opportunity by providing me with valuable sales experience and connecting me with future employers.
The second person I contacted fulfills the expert area of this assignment. This person is Sasha Bartnovsky and she is a genius at conducting customer research. She works for a major advertising and research agency in New York City and has moved up in the company greatly over the past few years. I found Sasha because she is part of my extended family and I gave her a call to get some feedback about what she thought of my product. She told me ways I could find out who the best target market would be based on my product and in return she just wants me to be successful in life. Including this person in my network will enhance my ability to exploit an opportunity because she can always help me with research and knowledge in terms of target market and advertising.
The third person I contacted fulfills the important supplier to my industry part of this assignment. This person provides services to other organizations in my industry. They help companies scale their company by providing consulting services. I found this person because they are a friend of my dad and they told me the best way to successfully scale a product or business in the right time frame. This will help me in the future because now I know limitations to businesses and how quickly you can scale a product or company.
This assignment will definitely help me in future networking events because I know have experience reaching out to experts in a field I am interested in. I have never done a networking experience like this before.
The first person I am going to talk about fulfills the domain expert area. This person is Brad Gamble and he is my supervisor at The Selling Factory. He co-founded the company, which provides the service that I would like to produce. The Selling Factory helps other companies find prospects and ultimately partake in outbound call and email campaigns. I found this person because he is my boss. We talked about how he came about founding this company and he just asks that I do my job well and help his company succeed. He could help me enhance my ability to exploit an opportunity by providing me with valuable sales experience and connecting me with future employers.
The second person I contacted fulfills the expert area of this assignment. This person is Sasha Bartnovsky and she is a genius at conducting customer research. She works for a major advertising and research agency in New York City and has moved up in the company greatly over the past few years. I found Sasha because she is part of my extended family and I gave her a call to get some feedback about what she thought of my product. She told me ways I could find out who the best target market would be based on my product and in return she just wants me to be successful in life. Including this person in my network will enhance my ability to exploit an opportunity because she can always help me with research and knowledge in terms of target market and advertising.
The third person I contacted fulfills the important supplier to my industry part of this assignment. This person provides services to other organizations in my industry. They help companies scale their company by providing consulting services. I found this person because they are a friend of my dad and they told me the best way to successfully scale a product or business in the right time frame. This will help me in the future because now I know limitations to businesses and how quickly you can scale a product or company.
This assignment will definitely help me in future networking events because I know have experience reaching out to experts in a field I am interested in. I have never done a networking experience like this before.
Friday, July 5, 2019
17A - Elevator Pitch No. 2
Elevator Pitch
Video Link
The feedback that I received on my last pitch video was that I was not active enough with the audience and that I did not explain the benefits of my controller adequately enough.
Thus, for Elevator Pitch No. 2, I decided to be more active with the audience by speaking directly to them and by walking around the room. I also outlined the benefits of my product and why you should get mine compared to the competition.
Video Link
The feedback that I received on my last pitch video was that I was not active enough with the audience and that I did not explain the benefits of my controller adequately enough.
Thus, for Elevator Pitch No. 2, I decided to be more active with the audience by speaking directly to them and by walking around the room. I also outlined the benefits of my product and why you should get mine compared to the competition.
Wednesday, July 3, 2019
19A - Idea Napkin No. 2
Idea Napkin No. 2
1. I am Reed Sherman and I am a very personable, outgoing individual. I pride myself on being very sociable and easy to work with. I am a business major and I am proficient in Microsoft Word, Excel, Adobe Photoshop, Adobe XD, and Hubspot. I hope to be able to use my experience that I got from helping businesses grow when I was an intern and create a profitable business model for a cooling gaming controller.
2. I am offering to customers a revolutionary gaming controller that has an internal cooling system, which in turn reduces the amount of sweat and germs spread when people share gaming controllers.
3. I am offering this product to any person who owns a gaming console like an Xbox or a PS4. Specifically, I expect the typical buyer of this product to be generally teenage or a little older than teenage boys. All of these customers have in common the fact that they may use a gaming controller on a daily basis and realize the need for this product.
4. People will pay money for my product because it will reduce the amount of sweat transferred from one person to another when they share gaming controllers while playing video games. What distinguishes my product from other companies products is that there is currently no other product on the market that has an internal cooling system in the controller. There exists controllers with grip to limit sweat, but no cooling controllers.
5. What sets my product away from every other is a special cooling system inside of the controller that no other controller has. I set myself apart with my perseverance and willingness to work until I meet my end goal.
I think that all 5 elements mentioned come together to create a strong business model and in turn can be very profitable. There is no other product like mine on the market, which distinguishes us from competitors. I think I have correctly identified the best target market. I also think I can relate to my target market well and can thus predict the best products. I am very perseverant and with a plan and a strong goal in mind, I will definitely make this a successful product.
Feedback memo: I received feedback from a peer that I should include what distinguishes my product from my competitors. Thus, I included in this go around how my product, a controller with a cooling system is different than any other product out there. I stated that there is currently no other company that has made a controller with an internal cooling system.
1. I am Reed Sherman and I am a very personable, outgoing individual. I pride myself on being very sociable and easy to work with. I am a business major and I am proficient in Microsoft Word, Excel, Adobe Photoshop, Adobe XD, and Hubspot. I hope to be able to use my experience that I got from helping businesses grow when I was an intern and create a profitable business model for a cooling gaming controller.
2. I am offering to customers a revolutionary gaming controller that has an internal cooling system, which in turn reduces the amount of sweat and germs spread when people share gaming controllers.
3. I am offering this product to any person who owns a gaming console like an Xbox or a PS4. Specifically, I expect the typical buyer of this product to be generally teenage or a little older than teenage boys. All of these customers have in common the fact that they may use a gaming controller on a daily basis and realize the need for this product.
4. People will pay money for my product because it will reduce the amount of sweat transferred from one person to another when they share gaming controllers while playing video games. What distinguishes my product from other companies products is that there is currently no other product on the market that has an internal cooling system in the controller. There exists controllers with grip to limit sweat, but no cooling controllers.
5. What sets my product away from every other is a special cooling system inside of the controller that no other controller has. I set myself apart with my perseverance and willingness to work until I meet my end goal.
I think that all 5 elements mentioned come together to create a strong business model and in turn can be very profitable. There is no other product like mine on the market, which distinguishes us from competitors. I think I have correctly identified the best target market. I also think I can relate to my target market well and can thus predict the best products. I am very perseverant and with a plan and a strong goal in mind, I will definitely make this a successful product.
Feedback memo: I received feedback from a peer that I should include what distinguishes my product from my competitors. Thus, I included in this go around how my product, a controller with a cooling system is different than any other product out there. I stated that there is currently no other company that has made a controller with an internal cooling system.
18A - Create a custom avatar
Create a Custom Avatar
I attached above my custom avatar. My prototypical customer would usually be younger kids, aged 13-21 who own gaming consoles such as the Xbox or PS4 and play video games on a daily basis. The types of hobbies that my prototypical customer would partake in would include playing video games on their gaming console, playing outside with friends, going to the movies, or anything that a typical teenager would partake in on a daily basis. They would usually not drive because my prototypical customers range from 13-21 and the customers who would be most likely to buy it would probably be the younger ones who have more time to play video games. They would not have children and probably would watch tv shows on Nickelodeon or Disney Channel.
I have in common with my custom avatar the age range as well as hobbies. I used to play video games a lot with friends but I also used to spend just as much time playing sports with friends outside. I do not think this is a coincidence, I think it makes sense that I would target a market that I already know about.
I attached above my custom avatar. My prototypical customer would usually be younger kids, aged 13-21 who own gaming consoles such as the Xbox or PS4 and play video games on a daily basis. The types of hobbies that my prototypical customer would partake in would include playing video games on their gaming console, playing outside with friends, going to the movies, or anything that a typical teenager would partake in on a daily basis. They would usually not drive because my prototypical customers range from 13-21 and the customers who would be most likely to buy it would probably be the younger ones who have more time to play video games. They would not have children and probably would watch tv shows on Nickelodeon or Disney Channel.
I have in common with my custom avatar the age range as well as hobbies. I used to play video games a lot with friends but I also used to spend just as much time playing sports with friends outside. I do not think this is a coincidence, I think it makes sense that I would target a market that I already know about.
Subscribe to:
Posts (Atom)