Google Gold

Search Engine Optimization is a term that many throw around and often times try to define yet there are really few who truly understand the meaning and the power and importance behind it. A few of the things I tried to do in my blog in order to increase hits in search engines is to use regular, every day words that people will oftentimes search for on the internet, this will increase the likelihood of one of their hits being my blog. Also, I tried to keep the language relatively simple as opposed to super complicated so that my blog could really be understood by a majority who may not be such an expert in a certain field. Lastly, I simply tried to keep things interesting, this blog wasn't so much a requirement for the class but rather a means through which I can tell of my accomplishments and failures and experiences in it.
My key words were things that could relate to the topic I was talking about, and I don't just mean entrepreneurship in general but rather pets, finding lost pets and mobile applications. This I believe will target a certain audience that will be more likely to be interested in my blog and future plans than your average person on the internet. While my key words at first started with pet related cases, it evolved as my venture evolved and once I had a more complete idea of what I wanted, my key words reflected that change as well.
To be honest, there must have once only one instance in which I can recall I used social media when referring to my blog, and that must have been a complaint about all the upcoming assignments I had to do, which was quite sarcastically worded on Twitter. It got a couple of likes though.
My most viral post was my Elevator Pitch No.1, I believe this was the case due to this being my introduction to my main idea and the concept that I would be working towards for the rest of the semester. Thus I feel it is important that people first understand my idea in order to fully grasp any other of my subsequent posts.
I did not make it to the first page of google, as it seems that there are quite other websites out there that talk about pets, pet finding services and application development services in general. I could not find my own blog as it must have been buried very deeply in there somewhere (I looked up to page 8, then gave up and grabbed a beer).

Very Short Interview Part 2

When I look back at my original interview with my choice entrepreneur, I think that I covered only the very basics and the essential foundation of what it really means to be an entrepreneur. Now that I have progressed in this class, I realize that there is a lot more depth to the matter and a lot more meaningful questions I could gave asked.

The following is a translated transcript of a Skype call:

Q: Thank you for taking the time to talk with me again, I am basically following up with my last interview now that I have learned and experienced a greater deal of the field of entrepreneurship. Looking back again to your beginning years as an entrepreneur, was there any time in which you thought you had utterly failed? What was that like and how did you deal with it?

A: Im glad you got back to me, it is always a pleasure to talk with future entrepreneurs. Yes, there were actually a few failures before my initial success; I often thought the work I was doing wasn't worth it as I constantly had to start over quite a few times. When it comes to how I dealt with it...I mean, it was rough, you know? Losing everything you work for not once but multiple times. Yet I kept trying because what else was I gonna do? Give up after all this? No way.

Q: How did you go about raising capital for your business? How did you get the gears moving?

A: I was lucky to have been blessed with an affluent family who helped me a lot when it came to funds. Nevertheless that was just start up costs, what really got us going were government contracts. You have to understand that in a country such as Ecuador, a lot of wealth circulates around government and any close ties to it, so naturally I aimed at where the money was.

Q: What have you learned about this entrepreneurial journey as a whole that you can say you are able to widely apply it to your everyday life? What stuck with you?

A: To be perfectly honest, it was failure. I learned from it like a mistress teachings you things, you know? Haha. I learned to fail and I learned not to fail in the same way twice, that way I can say I am always moving forward, and that is something I think you can apply to life in general.

Q: Thank You so much Nelson, you have been a huge help for me in this class and in counsel for my venture.

A: Anytime! Tell your dad I say hi, will you?

During this interview, I fell a lot more comfortable not only with myself and the entrepreneur but also  with the subject at hand. I felt I was able to ask much more meaningful questions that probed deep into the essence of the entrepreneurial journey as opposed to my first interview where I feel I only skimmed the very surface. I could tell that the entrepreneur thought of me in a different way, maybe it was the fact that I seemed more knowledgeable on the subject.

Celebrating Failure

One of the things that has always gotten to me is my lack of appropriate work ethic. I have been trying to recently change that and actually do my assignments in an early fashion so as to not be rushing at an incoming deadline in a last minute kind of way. However, I have seen little progress in that situation and I find it frustrating how I often can be so decided on doing work but most of the time simply lack the motivation to get started. I have failed at this change in midst a number of times this semester and to be honest, if I learned anything at all it is that I am not good at this change in lifestyle kind of thing, maybe its just not for me. I will keep trying nevertheless because I think that if I ever do achieve this change it will be beneficial for me in the end. The way I handled this repeated failures is by simply trying again, there are still assignments to do and even though I have started doing some things in advance, the harder stuff I usually leave for last, I still do not know why. This class changed my failure perception by helping me better analyze which risks I take and why, because it is senseless to take risks just for the sake of it, but rather if you truly believe something will come out of it and are willing to work for it then it is perfectly fine to take risks.

Week 13 Reading Reflection

What really surprised me the most this reading when I learned about it was all the different sues that a valuation of a company has. Whereas before I only thought of a valuation when it came to a business selling point of view, I know now that they can be used for raising capital, determining inheritance tax and and establishing stock option plans for employees.
If I had the opportunity of asking a couple of questions to the authors I would probably ask them what conditions would entail a company to use a certain valuation method over the other. I would also inquire as to what exactly makes the pricing formula the way it is, and why those are the only values taken into account.
The one thing I found confusing about this chapter was the LOI, and the way it differs from a terms sheet, as they both seem very similar to me. I did not find anything that I particularly disagree with.

My Exit Strategy

To be perfectly honest and straight to the point, my preferred exit strategy is always decided with one goal in mind, financial profit. I plan to exit my business at some point (as i do plan to enjoy my life and retirement), but that point will come when I feel I no longer have to offer anything to the company i created. In shorter terms, when my usefulness into improving and bettering the company comes to an end, I plan to sell it. And for as much money as I can.
The particular reason I have selected this exit strategy is because of the same reason I started this venture, financial gain. Now while some may say I lack passion and all i think about is money, which I understand given how I have phrased my thoughts, it is also important to understand that doing something I like does not necessarily have to be the same thing I do for financial gain. I simply spotted an opportunity which I could grow into a profitable company, simple.
I think that having financial profit as a goal in my head from the very beginning has been very influential in how I make decisions in the company and how I spot opportunities. Since profitability is a key point, spotting opportunities that are worth chasing has led me to careful evaluation of every step I take with a company. It also affects me in how much I play to grow this company and my decision to sell it.

Week 12 Reading Reflection

The thing that surprised me and I just learned about after reading this chapter is that there was so much depth when it came to growth both as a person and as an entrepreneur. This means that while we may have an exact idea what what we seek for both our companies or ourselves, we may not fully sight our actual objective unless we grow.
If i had to ask the author 2 questions about what it is that makes a person and entrepreneur is what strategy they think is best under different systems and situations? And what if we have inserted a very flexible and volatile market?
I did not specially find anything confusing as I saw the message that the authors wanted to convey. Also I did not find that I disagree with the authors since I am so new to entrepreneurship.

What's Next

Existing Markets:

What I think whats next for my venture, I think that I should begin targeting new customers, find a way to do it and expand the brand.

I think that based on this information that I was given, I am now better able to understand what new demands are and what interests certain customers and what will end up attracting new people in the long run. Now I believe I just have to have find an effective and cost efficient way of approaching all these prospective customers.
The way I plan to do this is by looking to new markets and conducting a customer scan and based on responses I can formulate a way to reach and target the vast majorities. This way I will have a more steady customer base and this will also foster loyalty.

New Markets:
For new markets i planned to target people that are the complete opposite of what I'm currently targeting. This means I will ask pet owners and non pet owners alike. Thus giving me a wide range of people and the way they think.

What I learned from this new market is that many different people have different preferences and different tastes. There fore it is essential to understand a large portion of your market in order to make profitable adjustments. This means that surveys and data collection are essential if one is to understand their target market.
Whether it be by offering special offers, discounts and sales, it is or by opening up the app and encompassing more of the user's life.  It is important to adapt to new trends and new interests that may arise in the public at any give time. And in these options you create, step in and make a lucrative situation out of what other wise might just be a new trend.