23A – Your Venture’s Unfair Advantage

23A – Your Venture’s Unfair Advantage 

·       Generate a list of all of the resources in your venture: This can include your human capital, social capital, financial capital, and capabilities.

Human Capital

1.    Knowledge expertise regarding iPhones- This resource proves influential because it is the basis of my business venture. My app will revolve around the users iPhone, whether it is connecting GPS to their keys, or simply accessing the app.

2.    App development and innovation- I have recently become more informed about app development and ways to make my app really stand out compared to competitors. I found that this is one of the top reasons for my ventures “unfair advantage”.

3.    Targeted networking experience- Through this class, I have reached out to seasoned professionals in the business world, and have found that human capital will prove to make my idea more feasible. Targeted networking has helped me refurbish my idea and make it as realistic and functioning as possible.

Social capital

1.    Organized plans for app launch- Organization and solid plans are very important in entrepreneurship, and I believe that I have the proper plans for launching my app whenever that time may come. While my idea is far from beginning, I will have plans in place to get these ideas into motion.

2.    Reciprocity between workers and investors- Having a two-sided relationship between investors and workers is truly important. When starting up a company, you have to make sure you are working within not only your capabilities and expectations, but also of your investors.

3.    Market analysis- Before I even had my idea, I have had true experiences where others have lost their keys and had an unproductive day because of it. I feel that my market analysis has played a big part in my idea, because I want to remove this bug from people’s lives.

Financial Capital

1.    GPS tracking influence- This part of my venture plays crucial to the ‘staying power’ of my business idea. Through my app, when a user loses their keys, they will be able to track their keys within a few clicks of a button. Accessibility to a location of their keys will completely eliminate the bug, and users will be able to fix the bug before it even happens because my app will notify the user when they start to move a certain distance from their keys.

2.    Investors (in future)- Having investors to boost your idea into reality is a huge advantage. I plan on having investors who not only provide financial resources but can also give ideas on how to continue innovation and productivity.

Other resources

1.    Social Media- Having knowledge and experience with social media is also a big part of my venture. I think I display an expertise in this field, and ultimately it will play crucial in the success of my business idea.

2.    Company Culture- In creating a company culture, I want to instill hard work and creativity into the main aspects of the way things run. This will be a more light-hearted aspect of the company but will still be based off of hard-work.

·       After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.

I think my top resource in my business venture would be the targeted networking experience. In researching my market and finding people who experts in their fields, I have a better chance of actually making my venture’s ‘staying power’ grow. My idea is far from finished, but this resource is one way I can actually make things move forward.

22A – Elevator Pitch No. 3

22A – Elevator Pitch No. 3

2) A reflection on the feedback you received from your last pitch. 

In reading my reflections from elevator pitch one and two, I realized that the thing that stood out to me the most was not my enthusiasm, or the way I spoke. I noticed that one thing people commented on that I never even realized was my motions and gestures. I often moved back and forth, almost swaying and moving my hands too much. I found this made me look nervous, so I found the feedback to be useful in making this new elevator pitch.

3) What did you change, based on the feedback?

Based on the feedback I received from my peers, I found that one thing I changed was my motions and gestures. Being the third time I was doing the elevator pitch, I found myself more comfortable and polished, and I believe this shows in the third video.

21A- Reading Reflection No.2

21A- Reading Reflection No.2

1) What was the general theme or argument of the book?

In Guy Kawasaki’s book, The Art of Social Media, the main argument or theme is to help readers produce and maintain a focused, driven, and influential social media platform. He also guides readers through tips and tricks of amassing followers, optimizing profiles, and integrating business concepts to new technology.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

In today’s rapid technological environment, social media has a much larger role than people would suspect. Nearly all contact between businesses and customers comes from social media, so Kawasaki’s book enhances this class in that it involves a main aspect in appealing to a customer base. When presenting a new idea, lots of times consumers can be turned off if you have a dull website, profile, or your product just doesn’t “pop” out at the user. Kawasaki also does a good job of relating to an entrepreneurial audience in that he calls social media the “Content Monster” and provides details on how to properly “feed” this monster through different forms of content creation and curation.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

If I were to create an assignment for this class based off of the book by Guy Kawasaki, I would have students create their own “Content Monster” in which they need to fulfill its needs through content creation and curation. Kawasaki gives several examples of how to do this through his “traditional approach” and the “better approach”. Students will use both approaches and then compare the benefits and downfalls of each approach.

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

In reading this book, there was not that much that surprised me. This is because I understand the impact that social media can play not only for an individual person, but a business as a whole. Social media is taking over the world, and technological innovations will only continue to increase. As entrepreneurs, we have the obligation to overcome these innovations and make sure we are creating a good image for ourselves and our company/ brand.