30A Final Reflection

First, I would like to reflect how fun, interesting, and overall great this class has been. I took this class because I needed to find a four credit class and had heard good things about this one. My degree is in education, but I thought it would be interesting to learn the basics of entrepreneurship. I found that while taking this class and I believe the struct of this class is perfect, especially for me. I really feel like you get out of this class what you put into it. Not that this class is the easiest thing, but if you do not do your work or watch the lectures, or even put effort into your work, then you will take nothing away from this class. I believe that is what sticks out to me the most because it directly represents the basis of entrepreneurship: you get what you put into it. All throughout the class we learned tips, tricks, and ways to build a business and there was always one common denominator for the successful ones: hard work and dedication, which is essentially how to succeed in this class. I will remember the elevator pitch the best because it was drilled into my head and I feel like having something like that in my back pocket can be beneficial when I least expect it. My favorite experience was reading about the successful entrepreneurs and their journey to build up companies we use everyday like Steve Jobs and Phil Knight. I really like biographies and learning peoples stories and I think it is important to know success stories were not always successful like we may think. I believe I am most proud of my venture concept and the way that I was able to create an entire business that I could start tomorrow if I wanted to. To have those concepts and understandings can really help in my future. 

I definitely see that my mindset has changed throughout this class. I do not have a background in this field, but as I learned about how entrepreneurship works, I have seen myself change the way I view things. I have moved a lot closer to the mindset and have begun to see the marketing side, as well as the selling side to a lot of things I did not see before. Of course I would not say I am an expert by any means, but I would say that my mindset had changed since the beginning of this semester. 

My one recommendation I would make is that you get what you put into this class, like I previously said. You can receive a good grade is put little effort into the assignments and fast-forward through the lectures, but you will not learn anything at all and just think this class is a waste of time. But if you put thought and effort into the product you create, the assignments, and take time to watch the lectures, then you will take away at least one thing (most likely more) from this class. This class also teaches you about life , whether you want to go into this field or not, so it is beneficial to WANT to take away something from it. I would recommend looking at the assignments early in the week and not to wait till the last second to do them. By doing this you will be putting in maximum effort and not just last minute work. I would also recommend setting aside certain days/times of the week to watch the lectures, kind of like if you went to the class. I think that will help you stay on top of the lectures, as well as the assignments. I think if you put effort into this class, and prioritize it, then the mindset will follow. 

29A Venture Concept No. 2

Within recent years videos surfaced on the Internet of turtles having plastic straws such in their noses from consumption. These videos blew up all over social media, launching what I refer to as "the straw epidemic." From this, restaurants all across the country have changed their products to be more environmentally-friendly and efficient. They have strayed away from the enjoyable, useful plastic straws that have been used for many years, and created an alternative: the paper straw. The plastic straws were looked at as harmful and unsafe for the environment. While people were still using plastic cups, plastic lids, and plastic containers, they focused their efforts on the straw: as it was not only harmful because it was plastic, but because the turtles were suffering from it. Because customers voiced their opinions for an alternative, companies' created the paper straw. As soon as it hit the market customers were happy that the restaurants and stores were listening to them and making an effort to save the sea turtles. However, as the paper straws hit the stores, customers quickly realized this was not the answer. They were becoming soft, malleable, and made their experience unsatisfactory. I know for a fact a Venti Caramel Iced Coffee from Starbucks tastes much different in a plastic straw than a paper straw, and for $4 a cup it better taste right, or an unhappy customer will result. People turned to buying their own metal straws and carrying them around with them to voice their impact, but also not have to suffer with the weak paper straw. Yet, this was not a sanitary solution.

Therefore, I present my business model: A 100% biodegradable straw made of plants, yet has the consistency of a plastic straw, but none of the effects. This product gives customers the ability to have a clean conscience on their impact on the environment, but also enjoy their drink through the straw. When the straw is done and thrown away into the world, the biodegradable material will give nutrients to the earth and dissolve within five years. I believe this opportunity is huge in a world that is focusing its efforts on earth-friendly products and doing away with the plastic straws. Cities from Gainesville, Florida all the way to Portland, Oregon and everywhere in-between have shifted product to paper straws, rather than plastic. Yet, I have never meet someone who is 100% satisfied with their paper straw. In fact, I know people who keep plastic ones handy for when they are in an area with only paper straws. People are willing to sacrifice satisfaction to save the Earth, but I am presenting a product where you can save the planet, but also be satisfied at the same time. This opportunity is huge in America right now, and I believe it will be for many years ahead, eventually phasing all plastic straws out and replacing them with 100% biodegradable ones.

My exact product is a 100% biodegradable straw. It has the consistency of a plastic straw, the same feel, touch, and durability, but is actually good for the environment. These straws will be found everywhere: gas station fountain drinks, restaurants, coffee shops, and ice cream parlors. It is simply a familiar straw that everyone loves, yet when it is disposed of it does not go and float in the oceans and kill sea turtles; but instead gives back nutrients to the environment. I will be selling these straws to restaurants directly, typically those on a lower scale who buy their own products, as well as the distributors who supply large chain restaurants and shops, such as Aardavark.

I believe that my product will bring satisfaction back to the drinking world that has recently been taken over by the environmental movement. As someone who loves the environment, especially the sea turtles, I am all about making a better impact on the environment. However, I do not believe that the people need to be left unsatisfied with their drinks in order to make a postive impact on our environment. I believe that my straw will bring back happiness and pleasure in their drinking experience, while knowing they are making a good impact on the environment. I also know that this 100% biodegradable straw will be leaving a better impact on the environment than even the paper straws are. I believe that restaurants will want to give a product to their customers that will leave them satisfied and happy. Therefore, I believe they, the restaurants and stores I will distribute to, will want to invest in this product because they not only want have a satisfied customer, but also be known for the earth-friendly products they are investing in and giving out. By creating this product everyone will be left happy: the consumers, the restaurants, me, and most importantly, the planet. Therefore, I present the 100% biodegradable straw, ready to change your drinking experience to another level.

The feedback I received was mostly good, especially how adamant and focused I was on my goal. The one thing my feedback suggested was to state what my next move was in my business, I believe they were referring to who I would be selling this product to. I tried to state that in this venture concept more clearly, to give a better understanding of not only what my product was, but who exactly I was intending to sell to. From the feedback I chose to describe exactly who my goal was to sell to, but also state who the product was intended for, as they are a little difference since I am selling to a restaurant/store but the product is for the customer. Overall, I feel like I took the feedback and made a better, clearer vision.

27A Reading Reflection No. 3

For this assignment I read the book "How to Fail at Almost Everything and Still Win Big" by Scott Adams. The theme of this book was failure, which I feel like really goes hand-in-hand with the other assignment from this week (28). Adams discusses how often he failed at creating his business and all the ideas he tried to have, yet did not workout. Adams really stressed how important failure is to succeed, and how often people forget that aspect of it. I really related to this point because I feel like failure is a good thing, as long as it is used to push you, and that is exactly the message that Adams conveyed in this book.

I really feel like this book connected with the 28 assignment on how to deal with failure in your business. I feel like it directly related because they both discussed failure, while the assignment talked about how you personally deal with failure, Adams wrote about his personal experience and how it helped him become successful. I think this book talked about the thing people are often afraid to admit, that they failed, and used it in a positive way. This class has discussed failure before and how to deal with it not only in business, but often in life as well. I feel like these two really went together and the fact that the other assignment this week dealt with failure was perfect.

If I had to create an exercise from this book I would give a scenario about a business and how it failed, and the assignment would be to fix this problem. I would give a scenario like a product, a location, etc. and then a reason why it failed. Then the assignment would be how to fix this failure and turn the business into a profit, while also making it realistic.

The biggest thing that stood out to me in this book was the way Adams' described how to reach goals, and how the road is not always a steady line. He went into depth about people who set goals all the time, and how easy those are to do. But accomplishing them is something very different, and things a lot of people do not achieve because they fail, and feel defeated. But he elaborated on those who learn from their failure often reach those goals. It is about the push and the driven from within that separates people who set goals, and those who accomplish them.

28A Your Exit Strategy

1) I intend to keep my business for many, many years and retire off of it. I see this as a never-ending market therefore I think that once it becomes big, it will pay for itself and a comfortable lifestyle. My product is the best of both worlds: something that everyone needs on a daily basis, as well as something new and edgy which is the fact it is environmentally-friendly. Once the business grows and I receive investments from people across the country, my goal would be to create regional locations that product the straws, therefore it is not only creating more jobs, but also less travel and wait time for straws to get places that are far from the distribution site.  My end goal would be to grow the business so large that all I did was really watch over all of them and have people below me running the true operations. 

2) I have selected this because I think it will be successful for so long and it is something I am passionate about. I do not want to create this and then sell it in five years for a profit, because that it not my goal behind this. My goal is to make money, yes, but it is also to create a daily product that is good for the environment, which this is. I think the pay off is wonderful, the work is not that time consuming, and it is a product I am passionate about and one that I want to be tied to. 

3) I think my exit strategy has influenced my growth concept. I want to grow the business to be regionally in certain parts of the US, which obviously has to deal with growth. I think that in the future every restaurant, regardless of location to our oceans, will want to switch to environmentally-friendly straws, which is exactly my product. Therefore, my market will be literally every restaurant, shop, gas station, and literally every place that has a need for a straw. That market is so large, therefore growth is the main priority in my vision. 

26A Celebrating Failure

Something I failed at this semester was quizzes in my photography class. It seems that this class would easier, as I am taking it as an elective for graduation requirements, but the quizzes are tremendously hard. I watch the lectures for hours, read throughout the book, and even do additional readings on certain photographers that are discussed in each chapter. Yet, I continued to struggle on the quizzes and I could not figure out why. It was extremely frustrating to put in so much work to learn the material, and then when the quizzes came, the questions were so detailed and it would be so frustrating to not remember the one extremely specific detail about the lectures/readings and I would get the question wrong. I would try even harder on the other assignments in the class, yet always struggled with the quizzes, which was ultimately bringing my grade down even more. It was very frustrating, as well, as this class is an elective, therefore it should be on the easier side of a class, not necessarily one of my toughest. 

From this I learned that even if somethings seem easy, they still require hard work, time, and dedication. After I put in a lot of work and studied for the first few quizzes I easily could have just stopped because it clearly was not working. But instead I just studied hard, paid more attention to detail, and figured out the types of questions being asked, and then recalling information in that way. I learned that not all things come easy, and honestly, when I did good (which cam eventually) I was proud of my hard work and the time I spent because I felt like it paid off. 

I think failure can be hard if you do not learn from it. I think we go through many things in life for a reason, and how we react to those things is what defines us. Change is the only constant thing in our lives, yet it is something almost everyone fears in their life. Yet, change is inevitable. You grow up at home, go off to college, which is one of the biggest changes you face in your life until that moment. Then you get comfortable at college, and then change happens again and you go out into the real world. Failure produces change, and change makes people uncomfortable, therefore this only equates to failure being uncomfortable. Yet, if you face failure, learn from failure, then you will be successful in the end, because failure teaches things that success can never. If you never failed, you would never know what it feels like to overcome something, or try really, really hard at something, or change because of something. 

Personally, I handle failure in a unique way. I think that in the moment, failure can really eat you up. Whether it be a hard break up, a job you did not get, or a test you failed, we all literally fail. But I personally look at failure in the mindset of "how can I become better from this." How can I grow and learn from the break up, how can I get a different job, how can I study better for the next test, that is how I look at failure. I think we are all human beings so it is normal to be emotional directly after failure, but it is how we react to that in the long run that will show us exactly how we, personally, deal with failure. I think this class as taught me more than ever to do something if that is what you are passionate about. And if you truly want something, you can make it happen because usually it is not the product, the money, or the place that is the problem, its the drive, the work ethic, and the sacrifices that people lack to accomplish their goal. 

That is what this class has taught me. 

24A Venture Concept no. 1

Within recent years videos surfaced on the Internet of turtles having plastic straws such in their noses from consumption. These videos blew up all over social media, launching what I refer to as "the straw epidemic." From this, restaurants all across the country have changed their products to be more environmentally-friendly and efficient. They have strayed away from the enjoyable, useful plastic straws that have been used for many years, and created an alternative: the paper straw. The plastic straws were looked at as harmful and unsafe for the environment. While people were still using plastic cups, plastic lids, and plastic containers, they focused their efforts on the straw: as it was not only harmful because it was plastic, but because the turtles were suffering from it. Because customers voiced their opinions for an alternative, companies' created the paper straw. As soon as it hit the market customers were happy that the restaurants and stores were listening to them and making an effort to save the sea turtles. However, as the paper straws hit the stores, customers quickly realized this was not the answer. They were becoming soft, malleable, and made their experience unsatisfactory. I know for a fact a Venti Caramel Iced Coffee from Starbucks tastes much different in a plastic straw than a paper straw, and for $4 a cup it better taste right, or an unhappy customer will result. People turned to buying their own metal straws and carrying them around with them to voice their impact, but also not have to suffer with the weak paper straw. Yet, this was not a sanitary solution.

Therefore, I present my business model: A 100% biodegradable straw made of plants, yet has the consistency of a plastic straw, but none of the effects. This product gives customers the ability to have a clean conscience on their impact on the environment, but also enjoy their drink through the straw. When the straw is done and thrown away into the world, the biodegradable material will give nutrients to the earth and dissolve within five years. I believe this opportunity is huge in a world that is focusing its efforts on earth-friendly products and doing away with the plastic straws. Cities from Gainesville, Florida all the way to Portland, Oregon and everywhere in-between have shifted product to paper straws, rather than plastic. Yet, I have never meet someone who is 100% satisfied with their paper straw. In fact, I know people who keep plastic ones handy for when they are in an area with only paper straws. People are willing to sacrifice satisfaction to save the Earth, but I am presenting a product where you can save the planet, but also be satisfied at the same time. This opportunity is huge in America right now, and I believe it will be for many years ahead, eventually phasing all plastic straws out and replacing them with 100% biodegradable ones.

My exact product is a 100% biodegradable straw. It has the consistency of a plastic straw, the same feel, touch, and durability, but is actually good for the environment. These straws will be found everywhere: gas station fountain drinks, restaurants, coffee shops, and ice cream parlors. It is simply a familiar straw that everyone loves, yet when it is disposed of it does not go and float in the oceans and kill sea turtles; but instead gives back nutrients to the environment. I will be selling these straws to restaurants directly, typically those on a lower scale who buy their own products, as well as the distributors who supply large chain restaurants and shops, such as Aardavark.

I believe that my product will bring satisfaction back to the drinking world that has recently been taken over by the environmental movement. As someone who loves the environment, especially the sea turtles, I am all about making a better impact on the environment. However, I do not believe that the people need to be left unsatisfied with their drinks in order to make a postive impact on our environment. I believe that my straw will bring back happiness and pleasure in their drinking experience, while knowing they are making a good impact on the environment. I also know that this 100% biodegradable straw will be leaving a better impact on the environment than even the paper straws are. I believe that restaurants will want to give a product to their customers that will leave them satisfied and happy. Therefore, I believe they will want to invest in this product because they not only want have a satisfied customer, but also be known for the earth-friendly products they are investing in and giving out. By creating this product everyone will be left happy: the consumers, the restaurants, me, and most importantly, the planet. Therefore, I present the 100% biodegradable straw, ready to change your drinking experience to another level. 

25A What's Next?

Existing Market

In growing in an existing market, I would be adding a new product to a busy market. As the straws have shifted from plastic to paper across the country, I will be bringing a better model of an existing product. My goal would be to phase out the paper straws because they do not work and are not liked by their customers. With my product I will incorporate the idea of the plastic straw, yet I am still making a postive impact on the environment. 

The existing market really has two competitors: The plastic straw, and the paper straw. The plastic straw exists because it has been around for a long time, as well as it is comfortable and works well. The paper straw exists now because people decided plastic straws were the worst thing for the environment and needed to get rid of immediately. However, the paper straws are almost useless because you need multiple of them to even finish a drink. They become soft and do not work overtime. Therefore my product will take a spin off of the better option, but will provide customers with the comfortable and effective feeling of the plastic straw. 

New Market 

A new market I would have to focus on would be places in landlocked states, as the straw epidemic has not really hit there yet. In places like Florida and California and Oregon, they have turned to the paper straws because they are located near the oceans. However, a new market for me would be cities in states such as Kansas, Missouri, and Kentucky as they all are landlocked and are not known for focusing their efforts on the environment. Not saying that they do not, but a landlocked state like Colorado or Arizona focuses their efforts on the environment and the natural beauty it possesses rather than those other states. 

Therefore, a new market might exist in Jefferson, Missouri for me as I can pitch them my idea there. I would tell them about my product and try to get into their market by challenging them to be environmentally friendly. It is such a simple change they can make, and then proclaim themselves to be such. I think it is easy to change the people who have been impacted by the paper straws, but harder for people who are not affected. This new market would challenge me but I would stick with my platform of wanting to save the environment and by making a small change, can make a huge impact,and then continue to target places like this to change different cities and make them more environmentally-friendly. 

23A Your Venture's Unfair Advantage

•  List of a resources:
• hardworking
• Valuable: helps you product the product
• Rare: not necessarily, it is just something you possess inside you
• Inimitable: yes, this can trickle down if someone is above you or next to you
• Non-substitutable: yes, depending on the person
• environmentally-friendly product:
• Valuable: Yes, a lot of people today want to be associated with this term
• Rare: Yes, because it costs more to be this, therefore people are not willing to do it
• Inimitable: Somewhat, but people are lazy and do not want to go the extra mile to do so 
• Non-substitutable: Yes, but those are not to the quality this product is (like paper straws)
• maintenance product (do not need a lot of space/equipment):
• Valuable: Yes, low costs result from it
• Rare: Yes, because a lot of businesses need a lot of space, machines, trucks, etc. 
• Inimitable: Depends on what the product is, if it is small and easy to make then yes
• Non-substitutable: Yes if it works for their business model
• casual atmosphere:
• Valuable: Yes because people want to work for you
• Rare: no depending on the field of business
• Inimitable: Yes extremely
• Non-substitutable: Yes because anyone can make up their business culture
• goal to change the world:
• Valuable: Yes extremely, because people want to say they are making an impact
• Rare: Yes, because not a lot of people actually do
• Inimitable: Technically yes, although it would take research to see if it really is. 
• Non-substitutable: Yes, but they are much poorer quality than my product
• organized
• Valuable: Yes, without it a business could not run
• Rare: No because other places can have this 
• Inimitable: Yes, very
• Non-substitutable: Yes, if it is ran by the correct people
• low-cost inventory:
• Valuable: yes, makes for a higher profit margin
• Rare: Depending on the product yes/no
• Inimitable: No because it directly pertains to the product, you cannot just change this because you want to, it has to do with the product market
• Non-substitutable: No, because it deals with the product directly, and you cannot just go and change your product. 
• mobile:
• Valuable: Yes, you can work from a lot of places, easy to move and reach more people
• Rare: Depending on the product, yes
• Inimitable: no because of the product
• Non-substitutable: no because of the product 
• relatable product:
• Valuable: Yes, people want to invest in this because it is used everyday, as well as a big market right now
• Rare: No because the product is used so much
• Inimitable: Yes, because it is not hard to make a straw technically, but with my plant-based method it is harder
• Non-substitutable: technically yes with paper straws, but that is who I am trying to combat
• convenient product:
• Valuable: Yes, people will use it everyday
• Rare: No, because people use it everyday
• Inimitable: Yes, because there are already a lot of these out there, but no because mine is different than the average guy
• Non-substitutable: Yes, but not as well (ie: Paper straws)
•  simple
• Valuable: Yes, easy to use
• Rare: No because all straws are simple
• Inimitable: Yes, as it already is done, I am just making it better
• Non-substitutable: Yes because the product is already simple to begin with 
• affordable:
• Valuable: Yes, makes it easier for people to purchase (restaurants)
• Rare: Depending on the product, yes, as most things labeled "environmentally-friendly" are more expensive
• Inimitable: Depending on the product, yes, but often you cannot make it affordable due to constraints
• Non-substitutable: Yes as long as their prices are the same
• I feel like my top resource is that it is environmentally-friendly because so many people want to describe their business as such. As plastic straws are going away and even being outlawed in certain cities, it is forcing companies to be environmentally-friendly, specific in their use of paper straws. Yet, so many people hate paper straws, so I am there to product a better alternative. I feel like this is my best asset because it works better than other environmentally-friendly options, yet it is still good for the environment, even better actually. I feel like the people who are forced to use a product like mine due to the outlaw of plastic straws will enjoy my product, but also the companies that simply want to show they CHOSE not to use plastic and are trying to be more environmentally friendly. This allows me to reach so many more customers, and also saving the environment at the same time.

22A Elevator Pitch no. 3

https://youtu.be/5l0V1OTx-3w


After this pitch I really felt like I perfected my pitch to the point where I was able to have a hook, an explanation, and people wanting more. I changed my content most from pitch no. 1 to pitch no. 2, so in this pitch I really just tried to make it as concise and to the point as possible, while also providing the hook and as much detail as possible about my product. I feel like the comments about how good the outdoors made my pitch stuck well with me, which is why I also did this pitch outside again because I really feel like it sets the mood for my product and gives it extra context. All in all I took the comments made to me about my pitch and really tried to make it the best version yet, which I feel like I accomplished in this one. I did not really change much from the second to third pitch, as I just focused on being clearer, louder, and straight to the point better, because those are the comments I was seeing from my previous ones. In conclusion from my previous comments and feedback, I feel like this is my best one yet as I made the changes people left for me. From here on out I will definitely have this pitch memorized if I ever need it again.