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30A - Final Reflection

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I really enjoyed taking this entrepreneurship class this semester. I feel like I have learned a ton of new stuff about how to start and keep a business running. The main idea that I learned from entrepreneurship is that it cannot necessarily be taught but it is something that is inherent to every individual and you either have it or you dont. I think the best experience that I got from this class were the elevator pitches. This is such a valuable skill that can allow anyone to practice and get good at making people believe what I am saying. My favorite post was about how my new app will help people to save money and do the things that they have always wanted to do. I would recommend this class to anyone who wants to learn more about how to start a business or learn a lot more about entrepreneurship. This class taught me a lot of stuff about how to start and keep a business running and I think that the values and lessons that I have taken away from it will be extremely valuable in t...
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29A - Venture Concept No. 2

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Opportunity: The main thing that my company, "Bingo", will focus on is the saving of money in very small and incremental amounts that aren't always too noticeable but can make a big difference over time. This app is going to be mostly tailored to college students demographic and will most likely not be used by people with higher personal income and net worth. I think that the apps that are currently trying to satisfy this need are not specifically tailored enough towards the college student demographic and therefore, are missing out on a major part of the incremental savings market. I think that this is a major opportunity for growth because the people who want the app are all clamoring for it. This market mostly exists in low income areas and in college towns near college campuses. These people are most likely to use my app because they are from lower income areas and do not necessarily have a lot of money to pay for a financial advisor. I think this opportunity is abs...
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28A - Your Exit Strategy No. 3

My business has a lot of potential so I think I will keep investing in my company for the next 5 years. I really think that this app has so much potential to make a ton of money and I think that if I hold on to the stocks, I will get a large return. I would like to make the company a family company so that I could keep the business in my family and hopefully make enough money to support my kids and their kids. I want my kids to get their college degrees and be successful for themselves. I selected this particular strategy because I think that my company will be successful enough to make waves for generations. I think that keeping it close in the family will prove beneficial because my family will retain control and be able to keep the most profits. This exit strategy makes the most sense for making a ton of money. I think that my exit strategy influences every other decision I make for my business. At the end of the day, the business is about making money and supporting my family s...
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27A - Reading Reflection #3

I read the Wright Brothers book for my last reading reflection. This book really jumped out at me because everyone knows the story of the Wright Brothers as successful aviators but I thought it would be really important to learn about the amount of failures they went through before they became a success. I was really surprised to learn that these brothers were just two guys who owned a bike shop that quickly became a national headline because they wanted to attempt to fly which hadn't been done at the time. These two brothers were so committed to flying which is really inspirational. I believe that if it wasn't for their spirit, it could have taken many more years for someone to invent a flying device like they had. I really appreciate this entrepreneurial spirit of never giving up and never letting the critics or non-believers get to you. I think that with this mindset, anything is possible and the Wright Brothers showed us that. I really didn't like how many people in...
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26A - Celebrating Failure

One way that I failed this past semester is when I had to drop my business finance class. The class is extremely difficult and I underestimated the time it would take per week to study and do assignments for the class. I really tried to study for the second and third exams but I really never learned my lesson and continued to slack off until the very last second to do assignments. I took the long time between exams for granted and kept putting off studying until the very last minute but by that time it was too late. I learned that it is super important to keep up on all your assignments, and to make sure that all your homework and exams are getting done on time. I spent way too much time socializing, and not enough time studying or at the library. I really think with the right study habits, this class could be very doable. The name sounds of this class is that it covered so much material and so little time. It is important to come prepared for this class so that you know exactly what...
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24A - Venture Concept No. 1

Opportunity: The main thing that my company, "Bingo", will focus on is the saving of money in very small and incremental amounts that aren't always too noticeable but can make a big difference over time. This app is going to be mostly tailored to college students demographic and will most likely not be used by people with higher personal income and net worth. I think that the apps that are currently trying to satisfy this need are not specifically tailored enough towards the college student demographic and therefore, are missing out on a major part of the incremental savings market. I think that this is a major opportunity for growth because the people who want the app are all clamoring for it. This market mostly exists in low income areas and in college towns near college campuses. These people are most likely to use my app because they are from lower income areas and do not necessarily have a lot of money to pay for a financial advisor. I think this opportunity is absol...
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25A - What's Next?

Existing Market: I think the next step in my venture is obviously to bring more services to my app. I want to make sure that any financial need that a college student may have is being met. This could be anything from monitoring student loan payoff to budgeting a weekly allowance mixed with job earnings. I think that while it is important to bring more services to the app, it is also very important to keep the app very simple and easy to use so that people dont get frustrated while using the app. I interviewed three customers about the progression and features of my app and here is what they had to say. The first interviewee said that the app was very easy to use but had not enough functionality. The second interview was with another college student that uses the app. The student said that they were very pleased with the current version of the app and that they really didn't need any functionality added to the app. The third interview was the longest and the most interesting. The...
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