ENT3003

The book I chose was, “The Art of Social Media”, by Guy Kawasaki. The general theme and argument of this book were that your social media presence is very important in not only how businesses view you as a potential employee but how consumers view you as a business owner. The book lists all the reasons why your social media is so important in the business world. This book, in my opinions, connect with and enhanced what we are learning in ENT3003 in the ways on how social networking and marketing can affect your business. If you are active and present on social media, in a positive manner, your customers will feel more connected to you. You also have the potential to gain members of your network by befriending and building relationships with other people that will help your business grow. If I had to design an exercise for this class, based on the book I read, it would be to partner up with another classmate and have them go through your social media. I would have them decide if they wo...

A time that I failed this semester was in principles of management. I literally failed, I failed the last exam we took. I learned that even though I spent money on SparkNotes as well as spending 4 days studying it still was not enough. I learned to make flashcards and invest more time in the book. I was really hard on myself as well as upset, because I was so sure that I did well. When it comes to failure in general I am always hard on myself, and upset. I feel like I can always do better. I am used to having straight A’s so this was a hard bullet to bite. I definitely need to allow myself more time to take the exam as well because I only gave myself 30 minutes to answer 60 questions. This class taught me that it is okay to fail, according to the last reading reflection I did. The book I read mentioned how it is actually a good thing to fail. I am definitely not more likely to take a risk now than I would have been a few months ago because I am not a risk-taker. But overall, I have cha...

The exit strategy I plan to take with my business is to stay in it for the long run. I will retire with the business and pass it on to my kids. I hope that it will be successful enough for that to happen. I have selected this particular exit strategy because it would mean that I have a successful business. It would be my dream to be my own boss and own my own business that I work from home when I want to work. I also wouldn’t want to sell it because I intend to do this until I retire, I would not want to sell it and then return to working for someone else. I would like to give it to my kids so they have the same opportunity as I do to be their own boss. This exit strategy has definitely influenced all the other decisions I have made in my concept. I have always intended to expand and grow my business and I plan on doing so with the revenue that I generate.

  1.      Social Capital-valuable, rare, not easy to imitate, and non-substitutional. 2.      Financial Capital-valuable, rare, not easy to imitate, and non-substitutional. 3.      Networking-valuable, not rare, not easy to imitate, and non-substitutional. 4.      Socializing-valuable, not rare, not easy to imitate, and is substitutional by technology. 5.      Multitasking-valuable, not rare, easy to imitate, and is substitutional by technology. 6.      Determination-valuable, not rare, easy to imitate, and non-substitutional. 7.      Innovation-valuable, not rare, not easy to imitate, and non-substitutional. 8.      Organization- valuable, not rare, easy to imitate, and substitutional with technology. 9.      Thoughtful-ness- valuable, not rare, easy to imitate, and non-substitutional. 10.   Goal Dr...

Existing Market.  What would be next in terms of my subscription box would be to offer a larger box for a higher price. Instead of $35 for 5 items, I would offer 7 items for $50 and 10 items for $75. From the three customers, I interviewed they all similar response, making my subscription box larger, as well as introducing new and fresh categories each month, so growing it larger in that sense as well. The item that I had already listed matched up with what they were suggesting, and they all thought that the price points were a great idea. After a year of launching my subscription box, I would like to increase the size that may be up to the 7 items. I would still be developing relationships with suppliers, so I don’t want to go too big to lead to disappointed customers due to my not offering enough consistently each month that they’re interested in. After 3 years I would then like to offer even larger boxes and have a wider variety of categories and items to choose from. This would...

The opportunity present here are those current subscription box subscribers that are unhappy with their subscription boxes. They are unhappy with the choices and cost that come with their current boxes. The opportunity is also present in people who are interested in joining a subscription box but don’t like the idea of getting items they will not enjoy. This particular market really can be defined in all demographics, my subscription box will appeal to both men and women, as well as people of all ages, with all types of interests and hobbies. The main target market would be women in their 20’s and 30’s, as they are the most willing to try a subscription box as well as those currently subscribed to one or more subscription boxes. Customers are currently satisfying their need of variety by ordering multiple subscription boxes and getting a hefty bill. I think once they see a cheaper option their loyalty to these other companies will end. I think my business has a huge opportunity because...

The feedback I received was all positive feedback. There wasn’t really anything that particularly stood out to me as important, but it was nice to hear from my peers that they support what I am doing and think that I am excelling in this class. That being said, it was a little surprising that no one had anything negative to say about my elevator pitch. There was not any feedback that I thought was wrong or silly, I thought that the positive feedback was “amazing” and inciteful because it felt authentic and genuine. The number one thing that I noticed I changed is definitely the pitch is almost memorized. I know what points I want to make and how I’m going to approach getting these points across. I am definitely more comfortable in front of the camera since I have been getting positive feedback and have done this a few times now. I think the overall pitch is better because the more comfortable you appear the more confident you are which makes your pitch better overall.

How to Fail at Almost Everything and Still Win Big by Scott Adams The general theme of this book is that success isn’t easy, you will have many setbacks in life, and experience a lot of failures, but how you learn and grow from those failures make you more successful in the long run. The book, in my opinions, connected with this class because it talks about how an important way to success is through skills that we have been developing throughout this class, such as design, conversation, and even public speaking with our elevator pitches. If I had to design an exercise for this class based on the book I read would be that I would give a test that was incredibly hard, to let everyone fail, and then tell them that the test wasn’t actually a real grade, it just shows them that just because they failed at one task, doesn’t mean they’re set up for failure, it is all about how you grow from that failure. The thing I learned the most from the book that I wasn’t really expecting was how it...

Ashely , a clothing store manager. Ashely has worked as a manager for “Justice” for over 5 years. She also just so happens to be a serial subscription box subscriber. Ashely has been subscribed to Ipsy and Sephora subscription boxes since they were introduced many years ago. She has over the last few years subscribed to over 10 different subscription boxes, thus making her a domain expert in my industry. Ashely is a family friend, and I contact her through Facebook Messenger. I asked Ashely if she would be comfortable watching my elevator pitch and offering me any feedback. She watched my video and provided feedback, which was what I expected her to do. If I include her in my network, it helps my exploit my opportunity by helping me improve my box. Alana Thompson , a reality television celebrity. Some of you know her as Honey Boo Boo. Alana Thompson offers her own subscription box., therefore this makes her an expert on my market. I found this person because I have watched her...

2) What stood out to me is all the positive feedback I received last time, that made me more comfortable pitching this time around. The positive feedback also surprised me because I didn’t think my video was that great and was definitely expecting some constructive criticism.  There was not any feedback that I thought was wrong, I was given some useful feedback as well as the positive. One of the comments I found useful in my feedback was that I should try to make the explanation more compact and cut it down some.   3) What I changed, based on the feedback, was my confidence while filming, I felt more comfortable so I tried to appear that way as well, even though I may still appear awkward to some. I also took the suggestion on making the explanation more compact and shorter into reflection and tried to change that in this elevator pitch.  

1)     I am really hardworking and skilled at multitasking. I have been a restaurant manager for a few years now and have worked in customer service for over a decade. My aspirations are to be successful in whatever I do and raise wonderful children. As far as this business goes, I would see it becoming successful and it being something that I enjoy doing. I would be able to work mostly from home to spend time with my family. 2)     I am offering a customizable monthly subscription box. It solves the unmet need that others may have when it comes to other subscription boxed, in getting unwanted items. 3)     I am offering it to everyone. The demographic characteristics I envision my customers are still mostly young women. These women have in common the desire and want to shop and get all the new latest trends, and many of them already belong to a subscription box. 4)     The reason why these customers will care and want...

The avatar I created looks similar to me. This what my prototypical customer would look like. They would be in the 20s to 30s and most likely female. Their hobbies would include binge watching Netflix, wasting all their spare time on social media, loves to shop on Amazon, and they exercise when they can. I would imagine they’d drive a sedan, maybe white (because that’s what I drive). The TV shows I would expect them to watch are, Love is Blind, Teen Mom, Keeping Up with the Kardashians, and Outerbanks (also what I watch). I would say most of them do not have children. The things I have in common with the customer avatar would be hair color and attire. I do not think it is a coincidence because I envision most of my customers to be like me, because I am into subscription boxes and so are all of my girlfriends.