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.