Twice the Venture

1) Throughout this class I have begun to think more and ore about the opportunities I see around me everyday. This specific opportunity is one I came up with this morning as I sat in my 10 am class being forced to pay attention because my phone was dead. I did what we all do, I forgot to change my phone. Sure, sure, if you get to class early you can sit next to an outlet, but you guessed it, I was 30 minutes late. The opportunity here is an easy, nonevent, and almost effortless way to ensure you phone is charged at all times.

Yes, there are portable chargers, phone charging cases, and power saver modes, but they each have their flaws and do not ENSURE a charged phone at all times. This opportunity is being presented in today's world because of the increase dependance and need for a constant connection to the internet, to communication, and to your work. The market of such an opportunity can be found it all developed countries where cellphones are more than common, but expected. If executed correctly and to the full capacity I have in mind, this product would change the way we use phones and make investors and my self rich. The window of opportunity for this idea is fairly short because the technology for this already exist and are on the brink of being made public and popular.

The creative solution for this opportunity is chagrinning through "Wifi". Wireless networks are everywhere and we are connected more to wifi than we are not. There are already ways to wirelessly charge your phone, but not through your own specific wifi router. If you can have a router at your home, work or even school, you can practically have continuos access to power without cords and power. Crazy, I know, but by using the technology that already exist with wifi and focusing on moving power through wireless connection, it can be done. What I would be selling are wireless routers that charge anyones phone who is connected to do it. This means guests, friends, families, students, clients, workers and many more can always have access to the internet and the information they need.

I believe the price of this product would be higher than people expect, but when put into perspective is not that much compared to other products. As of now, people own chargers, portable chargers, cases, and much more than breaks monthly and stye spend a lot of money on. This same money, when put towards my product, will be the same if not more. So by creating an easier way to charger your phone, you can save money with the initial investment. This product will compete with other products because no other product can guarantee 24/7 charging capability.

What is next for this opportunity is finding funding, finding a testing base, and most importantly finding someone who has the knowledge to create this because I do not. I think the secret sauce of this product is it is coming into an already developed market with a new idea. What I mean by this is the market for wifi and the market for phones already exist. I do not have to sell people on buying phone or internet, they already have it and already need it. I am presenting an add on to already accepted and trusted ideas. Lastly, I do not see this idea remaining my idea. I do not have the ability, experience or background to take this idea from start to finish. I do know that big companies and technology developers, who have the skills to create this, would love to keep the idea to itself.

So, the moral of the story is Wifi Charging needs to be the next big thing or I will have to continue paying attention in class.

2) The other people in my group recommended that I focus more on one specific idea verse the big picture. If I go into an idea with too much and too many ideas, it could fail very quickly. By starting off simple and then adding new features as time goes on, consumers will stay engaged and I will be more successful.

3) I changed my venture by focusing more on the technology part of this idea. I feel like the first time I did this I felt it was nearly certain this was possible. This is a new idea and is technology that hasn't been invented. I will need a lot of money and people to create this and I need to focus more on that.

Final

1) Read through your posts from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

The parts I hated them most was the elevator pitches. I enjoy speaking and talking to people, but the format was creepy. Maybe it was just me, but I felt weird.

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

I learned the most from the format of the class. The blogs were a fun way to see your progress through out the class. Usually in a class you submit an assignment and can never seen it again. I can't build off of it, see what I did wrong, or even ask the teacher about it. The blogs allow us to do all three of those.

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

100%. I thought I already thought like an entrepreneur, but after this class I see that was not true. I know can quickly find opportunities and its a fun skill to have.

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

I recommend to other students to do all the assignments. If you miss a week of assignments you lose a letter grade and that is rough. Be careful with the points and keep track of them.

Exit Strategy

Here's what you should do and write up for your post:

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

Although I like this idea and think it would make going out a lot easier for a lot people, I do not think I can keep it going. This app has already been invented and the other companies have a huge head start on the market. I do not think I have the experience or the knowledge to catch up to these other apps.

2) Why have you selected this particular exit strategy?

I chose this options for reasons above and because I don't have the time to do this idea. I work two jobs and go to school, this idea needs someone who is invested and focused on this idea.

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

Yes. I would have chosen a different answer had the people who came to class for FOMO came. I have the same product as them and after seeing where they are, I found it I am too far behind.

Fail lol

1) Tell us about a time this past semester that you failed -- The biggest fail of the semester is the fact that my exact idea was talked about in class by the guests speakers. I worked with this idea for weeks on weeks and look at that, it already exist! I figured it may, but didn't count on it being talked about in class. 

2) Tell us what you learned from it.  -- This failure showed me that you can have ideas and want to start a business, but someone may have beaten you to it. This doesn't mean stop or give up, it means make your business better. I know several things and have several ideas that will boost my business past the "FOMO" app that was talked about in class. We all have different looks, insights, and backgrounds that give us different ideas and concepts for our businesses. I have different things that can be done with this app that will put FOMO out of business ;)

3) Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were just a few months ago? -- I used to hate failing and I think people are weak when they fail. This idea has changed to an extent, but that much. Failure is only possible if you give up. You may lose, be unsuccessful and much more, but if you don't give up, than you did not fail. My business has hit a road block, but I do not consider it  failure just yet because I know I can improve the idea. Failure is only possible if you accept it, so although I may be a little nicer now, failure is a choice and you can prevent it, no matter how low you think you may be!

Get Spaced 27!!!!

Elon Musk is a crazy dude doing things I can’t even understand. He has been able to single handily recreate, revive, and empower the space exploration programs in the United Satiates. To understand just what Elon Musk is doing, one needs to understand what the United States ISNT doing.

The “race to space” is a slower one now a days, but one that is more expensive than ever before. Elon Musk, not coming from the best family background, was able to not only have the ideas to make his space empire bigger, but the financial backing. The most interesting thing I learned from this reading is how hard and long Elon Musk works to do what he does. One of the questions is what do you think the author thinks about hard work, and I think it can go without saying that Musk expects and requires handwork from anyone who is going to get near any of his projects.

I terms of this class sand business, it is encouraging to see that even the craziest ideas can work when thought out and the work is put in. Musk tried to start an independent space exploration company right after the United States began to give up on space and it’s NASA program. With good planning and a business model, Musk was able to make this insane idea successful. So, with a small scale app like mine, I should be able to make it work, right? Ahhh, we will see.

What Next Boy?

Existing Market. 

Step 1: I believe that this product is what's next for this specific market. People go out all of the time and want to enjoy their time. When consumers enjoy their time, the spend more, come back more often, and tell friends. This app, when supported by many business, restaurants, bars, and clubs, will benefit the businesses that are better and cheaper. This is a benefit for the consumer and the places because more money and more enjoable trips when you go out.

Step 2: After interviewing customers, in this case my friends that I go with, they were unsure what was next. The all responded that they have never thought about before, but when they started thinking, they shared some interesting ideas. One of my friends mentioned a signup idea much like the study rooms in the library. If you are going with friends or a group, you can pay ahead on an app to reserve the time you will get there and get in. This means that for 10:00, the place will let X number of people in and if yo are those people you don't have to wait in line or anything. This is similar to being pretended, but this time it is all done electronically and ahead of time to ensure you don't have to wait in line.

Step 3: I still think my idea iso n the right track, but after interviewing people, I see the potential for future expansions on the idea as the business grows. These include uber, food, payments, licenses, and much more. 

New Market.

Step 1: The idea I have been developing throughout this class focus on college students who go out. This is a very specific or stereotypical class if you think about it. For my new market, I want to focus on the food industry that could appeal to everyone but for now appeal to the people who are knowledgeable or aware pf GMOs. The opportunity is an easy way to identify when your food has GMO's because it not required to label all GMO's.

Step 2: My solution is an edible spray that changes colors when your food consist of GMO's. This product has value with its consumers because GMO's are a hot political topic around the world today. One side once all GMO's labeled while the other side a little less. This pray will allow those who absolutely do not want to eat GMO's to be able to make that decision. It also allows those who are interested or concerned to do the same. Most importantly, do it all very easily.

Step 3: For these interviews I chose one person that I know cares about the labeling or GMO's and someone who I know doesn't. The one who was knowledgeable about GMO's loved the idea and the product and said she believed that would be a big market for a new product such as this. The other person I interviewed seems confused and to not really care about GMO's 

Step 4:  These interviews showed me that the idea may not be as big as I thought and may only appeal to a specific group of people. I believe this idea is still important and can have a place in this market, but needs more support, advertising and backing. This support could come from big organizations like U.S. Right to Know or other GMO affiliated groups, whether they support them or not.

Venture Concept #1

Throughout this class I have begun to think more and ore about the opportunities I see around me everyday. This specific opportunity is one I came up with this morning as I sat in my 10 am class being forced to pay attention because my phone was dead. I did what we all do, I forgot to change my phone. Sure, sure, if you get to class early you can sit next to an outlet, but you guessed it, I was 30 minutes late. The opportunity here is an easy, nonevent, and almost effortless way to ensure you phone is charged at all times.

Yes, there are portable chargers, phone charging cases, and power saver modes, but they each have their flaws and do not ENSURE a charged phone at all times. This opportunity is being presented in today's world because of the increase dependance and need for a constant connection to the internet, to communication, and to your work. The market of such an opportunity can be found it all developed countries where cellphones are more than common, but expected. If executed correctly and to the full capacity I have in mind, this product would change the way we use phones and make investors and my self rich. The window of opportunity for this idea is fairly short because the technology for this already exist and are on the brink of being made public and popular.

The creative solution for this opportunity is chagrinning through "Wifi". Wireless networks are everywhere and we are connected more to wifi than we are not. There are already ways to wirelessly charge your phone, but not through your own specific wifi router. If you can have a router at your home, work or even school, you can practically have continuos access to power without cords and power. Crazy, I know, but by using the technology that already exist with wifi and focusing on moving power through wireless connection, it can be done. What I would be selling are wireless routers that charge anyones phone who is connected to do it. This means guests, friends, families, students, clients, workers and many more can always have access to the internet and the information they need.

I believe the price of this product would be higher than people expect, but when put into perspective is not that much compared to other products. As of now, people own chargers, portable chargers, cases, and much more than breaks monthly and stye spend a lot of money on. This same money, when put towards my product, will be the same if not more. So by creating an easier way to charger your phone, you can save money with the initial investment. This product will compete with other products because no other product can guarantee 24/7 charging capability.

What is next for this opportunity is finding funding, finding a testing base, and most importantly finding someone who has the knowledge to create this because I do not. I think the secret sauce of this product is it is coming into an already developed market with a new idea. What I mean by this is the market for wifi and the market for phones already exist. I do not have to sell people on buying phone or internet, they already have it and already need it. I am presenting an add on to already accepted and trusted ideas. Lastly, I do not see this idea remaining my idea. I do not have the ability, experience or background to take this idea from start to finish. I do know that big companies and technology developers, who have the skills to create this, would love to keep the idea to itself.

So, the moral of the story is Wifi Charging needs to be the next big thing or I will have to continue paying attention in class.