Venture Concept No. 2

The forces in the environment creating this opportunity is the inability of connecting to Wi-Fi up in the air for free. A lot of people struggle with this opportunity because of college funds and other savings that they wish they cannot spend. This market is defined for the expense of college students struggling with money. Other people, such as business people, need the use of Wi-Fi for work. Customers are satisfying this need by utilizing the free Wi-Fi leisurely for entertainment and work. They still pay for the Wi-Fi on board if they really need to, but our team is conducting a generator to work overseas. The opportunity fits a huge population of people for their satisfying needs. The ability to utilize Wi-Fi for free entertainment is the perfect prize. Everyone wants to settle for free things, especially with the burden of other costs that need to be paid. The “window of opportunity” will be open from this point on. I do not think there should be an end for this. The rich are getting richer and the poor are getting poorer. We need to help everyone in society. 

It is not that customers would switch into this product, it is about the fact that my company and I will be drawing a concept map for airplanes to visualize what they will be creating overseas. It will not be hard for customers to switch over because we are persuading companies to enable free Wi-Fi if they have it or design a generator for international airlines to use overseas. The competitors might be people who want to make profit off of the paid Wi-Fi. Their weaknesses will include people not wanting to board the plane because they will not have entertainment. We define the terms: customer support, distribution, etc. because we want to help the customer with their financial statuses. I already hired the right people suited for the right skills, my brother, Dylan, is already suited to play a role in designing the generator, and we want to campaign to airlines why it is important to understand peoples’ finances. We have four employees and we have someone that will speak on everyone’s behalf and someone that will gather a sample of people, including teenagers and business people, to display a sample data of the platforms people will use and the distribution of finances.
Some competitors do not have the communication and handy skills needed to accomplish this job. We are eyeing out our customers needs and we want them to be satisfied with this utility. We want to aim at showing the airlines the prototype or at least the design of the product – this idea will show the true ability that technology can play in this time era. In five years, I want to not only have this for airplanes, but also have this for cruises and boats. Cruises and boats also do not utilize free Wi-Fi. I will tackle one transportation and go onto the next. 

2. All of the people in my group told me that they agree with the addition of free Wi-Fi. They also like how not only am I focusing on airplanes, but I am also focusing on cruises as well. They have told me that they, too, feel that airplanes are boring without Wi-Fi, and the addition of it will decrease boredom. Everyone in my group gave my positive feedback, so there is nothing necessarily here that I can put as negative.

3. I think I will keep my venture concept the way it is and focus on a generator that will work overseas and improve satellite connection. For airlines that initially have Wi-Fi, my company and I will show them statistical evidence of those who need the Wi-Fi based on financial reasons.

Final Reflection

As I was reading through my blog posts, I noticed all the dedication I have made in this class. I inputed all my creativity, effort, and commitment into this class by conducting interviews with the right people, designing my input strategy, and learning what entrepenreurship is all about. In this class, my highs were thinking of all the possible things that annoy me in the world and making it into an innovating project. Also, interviewing my family and friends was pretty fun too because I like to hear how their outputs and how they reacted to the situations. However, my low were the book reports. I am not a fan of reading and I do not enjoy it. 

The most formative experience was looking into the eyes of myself taking on a future business role. I will remember the strategies needed to become a successful business person. My most joyous experience was, as aforementioned, interviewing my family members and friends. I am most proud of attempting to fix my elevator pitch after the third try. I am not a public speaker, but I did learn how to cope with it. I just think practice makes perfect.

I see myself as an entrepreneur because this class has taught me real life lessons in becoming one. I believe speaking out in public, getting the customers’ demands, developing the right ideas, and focusing on yourself can teach you a lot. This class has taught me to start simple by creating something you like or something you want to fix, and making it better. I think I developed the entrepreneurial mindset from what I have mentioned. I like how this class starts off with something basic and then helps you reach your potential goal.

My best recommendation is to focus on something you’re passionate about and something you care about pursuing. I believe no one should give up. Also, if something is struggling you, then you should do something to fix it. I believe everything in the business world is competition. To do well in this course, I believe one should have the mindset to do all the work required and come in with a positive attitude. To foster their mindset, they need to focus on the big picture and not stress about not being able to do it.

Reading Reflection No. 3

The argument of the book is promoting innovation and entrepreneurship. Drucker includes strategies for aiming for a new market and leaving the existing market. He stresses that there needs to be more ideas and innovation in the world, and not borrow old ideas. Many people do not think to change the existing market, but rather focus on the old and not have time to invent any new ideas. This book enhanced me to always think of new ideas – it makes an individual unique. Also, focusing on the new market leads to more improvement in the market. The exercise I would follow in this class is think of a new prototype to design. I would say one that has not existed already and can be used for future usage. My biggest surprise upon reading this book was that many people do not focus on specialized niches and change their dominance in society. This book has taught me to always innovate my market and come up with new ideas. It also shows that as a whole, people need to be educated on the use of innovation. 

Your Exit Strategy

I intend to protect the venture as a family business because my two brothers and my best friend are involved in this networking. Sometimes, people will sell your business without you knowing – people cannot be trusted nowadays. I believe family comes first and I know that it will mean a lot to my children if my business was passed down to them. I believe I am doing this concept for college students and businesspeople. I believe this can be a working issue for many centuries, since I know that airlines want to make profit off their customers. I believe family businesses keeps the family together, but I still want my children to go to college and get the right education.

Identifying opportunities definitely made me realize why I chose this exit strategy. Everyone wants their families to help them with their businesses since they're the most trustworthy and keep the stability of the family. Also, growing up with these people truly showed their colors. From conducting acquaintances and strangers, I realized that I want my family and my best friend to help me take on this business. These opportunities have helped me acquire and use resources by formulating concept maps and sketch maps of how we will be building the generator and talking to airplane staff about our concepts.

Celebrating Failure

1) This semester I had the opportunity to mentor elementary kids at a local elementary school in Gainesville. During my first day of elementary school, I met my mentee whom had trouble speaking to me. I saw the rest of my co-mentors who were helping other students with homework and such having a blast with their mentee. Me, on the other hand, was trying to speak with my mentee, but he refused to talk to me. He would just nod his head and gave very subtle answers, such as "mhm". During my thirty minute time period, I just had to ask him, "what is going on in your house?"... He answered, "my brother is dying". I noticed that this was a sudden change in his life and helped him the best I could. I knew it was not me, but something that was going on his family.

2) I learned that body language is the best way to know when something is wrong. Also, people have ongoing problems in their home and act differently to people when it becomes frequently. A drastic change can change a person's behavior. It is always great to help the community, especially in times like this.

3) I think failure is a sign of learning – learning that one can fix this mistake. If we don't overcome failure, we will achieve the same mistake. I believe failure creates a balance in life for everyone. I handle failure behaviorally by fixing my mistake and changing my attitude. I believe this leads me to become a better person. I am more likely to take risks because I will learn not to do it again. I believe it does not hurt to try it, especially if your gut is telling you to do it. This class has taught me to speak to more people and talk about my business strategies. In the end, I was proud that I listened to my gut and got out of my comfort zone.



 

Venture Concept No. 1

Forget This Network

The forces in the environment creating this opportunity is the inability of connecting to Wi-Fi up in the air for free. A lot of people struggle with this opportunity because of college funds and other savings that they wish they cannot spend. This market is defined for the expense of college students struggling with money. Other people, such as business people, need the use of Wi-Fi for work. Customers are satisfying this need by utilizing the free Wi-Fi leisurely for entertainment and work. They still pay for the Wi-Fi on board if they really need to, but our team is conducting a generator to work overseas. The opportunity fits a huge population of people for their satisfying needs. The ability to utilize Wi-Fi for free entertainment is the perfect prize. Everyone wants to settle for free things, especially with the burden of other costs that need to be paid. The “window of opportunity” will be open from this point on. I do not think there should be an end for this. The rich are getting richer and the poor are getting poorer. We need to help everyone in society. 

It is not that customers would switch into this product, it is about the fact that my company and I will be drawing a concept map for airplanes to visualize what they will be creating overseas. It will not be hard for customers to switch over because we are persuading companies to enable free Wi-Fi if they have it or design a generator for international airlines to use overseas. The competitors might be people who want to make profit off of the paid Wi-Fi. Their weaknesses will include people not wanting to board the plane because they will not have entertainment. We define the terms: customer support, distribution, etc. because we want to help the customer with their financial statuses. I already hired the right people suited for the right skills, my brother, Dylan, is already suited to play a role in designing the generator, and we want to campaign to airlines why it is important to understand peoples’ finances. We have four employees and we have someone that will speak on everyone’s behalf and someone that will gather a sample of people, including teenagers and business people, to display a sample data of the platforms people will use and the distribution of finances. 

Some competitors do not have the communication and handy skills needed to accomplish this job. We are eyeing out our customers needs and we want them to be satisfied with this utility. We want to aim at showing the airlines the prototype or at least the design of the product – this idea will show the true ability that technology can play in this time era. In five years, I want to not only have this for airplanes, but also have this for cruises and boats. Cruises and boats also do not utilize free Wi-Fi. I will tackle one transportation and go onto the next. 

What's Next?

In terms of setting the path for my future, I will like to tell the airlines to hire a distributor to make generators that will work overseas. If that is not the case, I will like to tell different airline companies that people are already paying other expenses, such as college funds, bills at home, etc. In one interview, the person stated that we need to draw out a concept map and select 10 different college students to demonstrate to the airlines why it will be meaningful to enable free Wi-Fi. Another person said that customers want to be able to be entertained on the flight and not just sit there bored. The last person said if they can compliment sleeping pills if the phone is too much for them. I know that, sometimes, I cannot sleep on airplanes due to the turbulence and the uncomfortable seating position. However, people will sue to the airline, if it has serious side effects. 

  Another part of this mission we have to consider is the amount of people that will actually utilize the service. A couple of interviews back, I interviewed my grandma and she said that she does not have a phone, so this will not apply to her. If the airlines want to buy an expensive machine for nothing, then it will be a waste of money. I believe, however, a lot of college students travel a lot, especially for gap years and study abroad. The trip is already expensive and using cellular data overseas is expensive, as well. College students would be grateful to have the access to still connect with their families and friends abroad without a charge. 

As part of all the interviews I have conducted, I asked them what kind of campaign we should host to get airplanes the free Wi-Fi on board. We have discussed to show them Brandon’s statistical evidence, Julien’s public speaking skills, and Dylan’s technology innovation to get airplanes to design the generator to work overseas. We have to design a concept map to show how we will generate the power. Customers will give thanks to our campaign for giving empathy to those who cannot afford the Wi-Fi on board, as well. I think a great way to keep the motivation subtle is to speak about everything you have to say to airlines. Show them information and statistical evidence of children who cannot afford these costs. Also, we would show the difference in ages of those who would be utilizing the Wi-Fi. We have also discussed to interview more people to ask them what kind of information or platform they will use to stay active on these plane 

rides. 

I was surprised the most about the fact that this is a long process for airlines to approve of our method. Showing them the generator to use overseas instead of inland can be tough. In one interview I conducted with my friend’s dad who is a pilot, he said stated that, “it would be hard to generate a generator overseas because there is no connection nor satellites. My expectations of this new market is considered correct because we have the right methods to move forward with this process with all the design skills my team and I have. The new market seems to be a motivation for us because we are going to invent a product that will work overseas and not just mainland.