Week 8 Reading Reflection

Week 8 Reading Reflection

1. I guess something that was somewhat surprising to me in this week's reading was the idea of angel investing and who the books characterized as potential investors; such as doctors, lawyers. I wouldn't expect them to class them into the category of angel investors.

2. Nothing in the reading was necessarily confusing to me. 

3. If I were to ask the author two questions I would ask: First, has he ever raised any capital and/or would he possibly consider himself an angel investor? Second, what is the updated trends on venture capital and what they are investing in currently, as this book was published years ago? 

4. I think the author could be wrong about venture capitalists wanting to have some control of your business. I realize some venture capital firms also sometimes operate as activist investors, in which case, they do enjoy having board seats and some control.

Half-Way Reflection

Half-Way Reflection

1. This course definitely takes persistence, consistency, and keeping up with the coursework. Due to the nature of this course and the high amount of workload, in the form of a lot of assignments, you must be very consistent with following what is due and what you need to work on. Also, because some of these assignments require other people, you must plan ahead.

2. A couple of the assignments that required me to go film other people and/or interview other people made me close to not wanting to complete the assignment and just leave it to go ungraded, but persistence made me sack up and go complete the assignment. 

3. Three tips I would offer would be: make sure that you are extremely consistent with your workload in this course, always be scheduling for when you are going to complete an assignment, and make sure you actually do the assignment before declaring. 

Free Money

Free Money

     1. For this exercise, I thought that I would combine my efforts to do some weekend good while completing my assignment so I went out driving and searched for some homeless as well as some other causes (girl scouts). I figured they would appreciate the money more than just anyone. 

2. I was looking for homeless men and women or other good causes that could use my money. 

3. The positive in this is that I did not necessarily have to say too much to give away my seven dollars other than "God Bless".

4. I successfully gave away seven dollars and felt quite good about doing a good deed, so I enjoyed this exercise.

https://www.youtube.com/watch?v=jhY0BQ4LZd8

https://www.youtube.com/watch?v=s8Ax_B_OBCo

Week 7 Reading Reflection

Week 7 Reading Reflection

1. For this week's reading, we focused on Rediscovering Market Segmentation by Daniel Yankelovich and David Meer. The biggest surprise to me from the reading was possibly the discussion about the Continuing Care Retirement Communities (CCRCs). I did not realize how popular those communities were. Seemed like that entry fee could turn people away and the fact that you don't own the condo. 

2. Nothing necessarily confused me too much. I guess the discussion about the CCRCs confused me as I did not realize how popular they were. 

3. If I were to ask the author(s) a question, I would be curious to know whether functionality for the product ever trumps marketing efforts? Or will a product that is similar just be created and marketed more effectively, thus, decreasing consumption for original product? 

4. I think that no matter the research you put in, you will never be able to target a mass audience with only marketing. I believe that no matter who you advertise to, you will be turning someone off and someone on.

Week 6 Reading Reflection

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 biggest surprise to me was His concept that sometimes knocking out other competitors can actually decrease the industry potential, thus hurting your own business. As this brings the entire industry's market share lower. 

2) Identify at least one part of the reading that was confusing to you.

     One part that I somewhat found confusing was the idea that this model applies to every business, every industry, every market. 

3) If you were able to ask two questions to the author, what would you ask? Why?

First, I would ask the author whether he thinks his 5 factors still applies to today's marketplace? 

Second, where does the financial aspect come into play? The capital being raised and distributed? 

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 entirely agree that every industry faces these same 5 elements. I think it's great in theory, but probably would not paint the whole picture in practice. 

Idea Napkin No. 1

Idea Napkin No. 1

1.     My name is Sawyer Lambert and I would like to consider myself quite entrepreneurial. I have taken part in a few entrepreneurial situations, one last year where I entered a collegiate business plan competition with a fellow student and got to the finals. I am mostly interested in investments or something finance related so that is what I am working towards. I see this business becoming a major role in my life if I were to start it.

2.      My company is called Juntos, which means together in Spanish. Juntos is a company that offers an online marketplace that connects people who are looking to make similar major purchases, allowing them to buy things together.

 3.     The customers Juntos offers to is anyone who desires a product or property that is out of their price range. Each year untold billions of dollars in major purchases are not made because the buyer cannot bear the cost alone. Juntos brings like-minded buyers together so that these potential transactions could take place.

 4.     Customers will care because Juntos provides customers the chance to purchase items they may really want because another buyer will help finance the cost. Otherwise these customers may never be able to purchase these items. I call this un-captured potential. Customers will pay because of this fact.

 5.     Juntos provides many competitive advantages: first, is that we are the only marketplace that actually connects buyers. Second, is that we offer joint payment. Third, is that we provide great marketplace consolidation.

     I believe that these factors all coincide well together. The fact that Juntos provides the multiple elements that will be needed when offering joint purchasing, makes Juntos a well consolidated website. Customers do not need to even use another website for the legal contracts that will be needed when they split the cost with another buyer. Juntos will provide contractual guarantees as well as a safe escrow/account where the money will be placed until the purchase is finalized.  

Week 5 Reading Reflection

 Week 5 Reading Reflection 

1.     The biggest surprise from this week’s reading (Chapter 9) was the idea that introduction of your product is critical. Obviously, I realize that knowing your market and realizing the trends taking place, but the fact that they emphasized that taking action too soon or too late can lead to negative results, was surprising.

2.     One thing that has always confused me is the tendency for people to open up shops that have nothing unique to offer. Like, they open a ice cream place in a small town where there are already two different ice cream shops and none of them even do exceptionally well. This tendency has always been mind boggling to me.

3.     If I were able to ask two questions, the first would be, have you ever started a venture? And if so, how did it do?

4.     I did not necessarily think the author was wrong about anything. I think that the financial component of starting a business should be more emphasized.

Elevator Pitch No. 1

     The company I am pitching is a company called "Juntos". "Juntos" meaning together in Spanish, is an online marketplace that connects people who are looking to make similar major purchases. Unlike Amazon or Ebay, Juntos allows buyers to find, contact, and communicate with other buyers and potentially purchase items together. Some examples include: Season Tickets, Condos, Recreational Vehicles, and Bulk Goods. Juntos also benefits sellers as it allows them to sell more products than they would otherwise. We call this un-captured potential.

Here it is on Youtube:
https://www.youtube.com/watch?v=QAbOdDndjk4&feature=youtu.be