Week 8 Reading Reflection

During the eight week and the reading we had to do for it, I found some things that I previously had overlooked and not payed much attention to. One of the things that surprised me, for example, is the fact that start ups usually seek debt financing before equity financing. This might be due because they believe in themselves and their ability to foster a company and see it grow.
One part of the reading that was rather confusing to me was the Private placements section and the concept of direct public offering as opposed to IPO's. I found it hard to grasp the basic concept and the difference that each has in comparison to the other. If i had the opportunity to ask the author's a couple of questions on the reading, it would be about venture capital firms. I would want to know in modern day times what is the criteria that a venture capital firm has in order for them to consider your start up a good investment, also I would ask under what circumstances and to what degree of freedom would I be able to run my company without external interference in the event of equity based funding. Lastly, I happen to think that the micromanager section of angel investors is a bit biased, it just seems so negative to assume that every micro manager, hard working, self made individual is a pain in your company's future because they seek to manage and keep an eye over your operations.

Half-way Reflection

In this half way reflection,  will attempt to communicate to any future prospects of this ENT 3003 class and give them advice on how to be tenacious and succeed in this course. Also,  I plan to also talk a bit about my experiences and what I've learned.
One of the behaviors that I have used and develop in order to keep up with the course and the work we have to do is definitely time management. Now i understand this is probably what everyone will tell you, time management is key and important and all. But I really cannot stress just how crucial it is, and not just for a class or just for college but life and anything you do. It turns a mess of stress in manageable tasks that really are not that bad when you don't have a deadline in 20 minutes.
This one time, I had to go out and conduct a survey to random people about my product, I thought that would be way too embarrassing so i thought about skipping that assignment. But then I realized that without risk I would make very little progress and so I went out there and did it. Not for the grade or GPA but for myself. And that really is an important part of this class as it is made and designed to benefit you. This along with other activities have created a tenacity in me to go and do what i have to do without being uncomfortable or shy, but a better person overall.
Three tips that I would give a person about succeeding and being tenacious in this class is to learn to manage your time properly, do not leave things for last minute. Also, it is perfectly ok to do something out of the ordinary and step out of your comfort zone, have a little fun. And lastly, enjoy the experience, because if you go through this class dreading every single part of it, then might as well not take it. This class is about the experience and how it changes you and your mindset into an entrepreneurial entity.

Week 7 Reading Reflection

In this week's Harvard Business Review reading about market segmentation, I learned that demographic segmentation is seemingly no longer a valid way to interpret population and demand for whatever it is that a marketing team is attempting to bring to market. It looks like marketing techniques have shifted from identifying a product with a company to focusing on the importance of a product to consumers. One of the things that was unclear to me about the reading was how one is able to tell which type of customer to reach under which approach to segmentation in order to maximize reach and profits. What criteria are behind the use of each type segmentation in each different situation? If I had the opportunity to ask the authors two questions about this reading, I would certainly first ask them to clarify my previous question about which type of segmentation is better under which conditions. I would also ask what does a marketer look for in a modern setting when trying to connect consumers with his new product since demographics seem to be outdated.
There wasn't really anything I specifically disagreed with, only a few things that I was slightly confused about.

Elevator Pitch No.2

For my second elevator pitch, I worked on my eloquence and delivery skills. Since I received an overwhelming amount of positive feedback from my first pitch, I am changing very little as to the content and concepts presented in my pitch. It seems there is a very decent demand for an app that would allow users to connect and network with other users in order to find and reconcile lost pets with their owners.

I would lastly like to thank everyone who offered their feedback, as it was vital in the bettering and conceptualizing of my pitch.

Interviewing Customers No.3

This week I chose to interview some of my friend's friends that I have not met before. I asked them to identify themselves and also posed questions that would give me a better insight as to how they would relate and fit in my app's target market.

As a college student, Katherine was asked if she owns a pet, if her pet has ever fled or been lost and if she thinks she would benefit from a pet finding app.

Robert was also asked the same questions

As was Yaima

And Guillermo

and lastly Richard

What I learned from this interview is that there are a lot of pet owners with different situations and different unmet needs. From this I specifically can tailor my marketing campaign to target the right audience.

Elevator Pitch No.1

For this elevator pitch, I decided to create a mobile friendly application called Pet and Found which will enable users to register, submit and inform other users about any stray animals or pets they might find in the local area. By building and expanding this network,  a run away dog or cat can more easily be found and returned to its appropriate. Pet and Found will create a new way for pet owners to account for any mishaps that might occur when talking about the hassles and troubles of losing your pet!