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.