30A – Final Reflection

Read through your posts from this semester. 

The best experience for this semester is doing an elevator pitch. I just heard bout it before once or twice, but I am really surprised that Dr. Pryor taught us in this class. And it’s a fun experience during this semester when I was trying to record the video.

What sticks out to you as the most formative experience? The experience that you'll remember years later.

For me, the quiz is so tough. I made notes for every class, but I cannot always get it right. For a few times, I didn’t do well on the quiz and worried about missed the A in ENT3003.

Do you think you have moved closer to developing an entrepreneurial mindset?

            Yes, I do after I take this class. I learned the way how to think or find opportunities in our life. Also, I learned that we need to be smart to find investors using the smart way, for example, the elevator pitch.

 What is the one recommendation you would make to the students who are going to journey down this path in the future? 

            For the students who are going to journey down this path, I highly recommend reading the books from Dr. Pryor's suggested reading list. It is worth and helps us do will in developing ventures.

29A – Venture Concept No. 2

Provide, again, venture concept description.

            People who are “forced” to stay at home for safety and public health reason. I also stay at home and keep studying. But after study, I still got a bunch of free time to do something. Maybe gaming, studying, chilling, exercising, cooking, watching, reading, etc. I believe all others are the same as me. We need some fun when we are staying at home.

Provide a summary of the feedback you received from your previous venture concept description.

            The feedback this concept is very positive and my group members like it.

 Describe how you changed your venture concept, based on what you learned from the feedback.

            I think it is a good idea that does not need to be modified. The next step is accomplished.

28A – Your Exit Strategy

Plan

When my company doing well and matured, I consider to exit from the company but will stay on the board of directors. Also, I want to be a counselor for my company. I don’t think about pass it to my children because maybe they are not interested in running a company. I would like to give them some stocks. I prefer to hire more professional managers to operate and lead the company, a powerful CEO.

Reason

Because I want my company running under a healthy framework. I should hire professional people to do professional things.

Influence

Even though I exit from the company, but I would like to be an investor to find potential industry and company. I will invest them and make another influenced company in that area.

27A – Reading Reflection No. 3

For nearly a century, Chanel's fashion, accessories, cosmetics, perfume, and even Chanel's hairstyle, phrases, and deeds, etc., have emerged as the fashion for women to follow. "Chanel" has ended up a consultant of fashionable women inside the 20th century.

Chanel changed into successful because of her eager commentary of the converting times and terrific creativity.
In the direction of her great and unconventional lifestyles - from rags to glamour - she helped form the cutting-edge view of women.
As she said, "that is what I was born for. That's what I suffered for."

The writer charts the profound relationship between Chanel and the modernist artist, showing how the maximum influential designers of the time became synonymous with rebellion and progress, and a few of the painful info paint an image of Chanel and the mythic existence she created.

From Douban

26A – Celebrating Failure

I withdraw the accounting Financial Accounting Report 2 in the last semester. I think I am not the person who is good at accounting stuff. I do not feel very bad because it is hard for me. I cannot understand the principle and rules behind accounting. Even though I only slept a few hours and practiced over and over the questions in the book, I still easily messed up the exams. So, I think I am not the person who should learn to account.

I suddenly notice that people can very good at something but also can very bad at something like accounting. I passed FAR1, but I failed in the FAR2. I decided to change my major and find a new direction for my life.

If I pass FAR2 and another class, I will apply minor accounting. I will see if I want to challenge it again in the future.

25A – What’s Next?

Existing Market.

In the next marketing strategy, I need to stabilize and keep my current market share and conservatively increase more market share.

They believe my venture will growth stable not aggressively. Because the diesel generator is for electronic cars only. And the quantity of electronic cars in the market is not a lot comparing to a gasoline car. Therefore, my customers all think my venture can grow to stabilize but not grow too fast.

The future target is occupying 90% of Tesla owners. But mainly focus on States in the South Eastern of the United States.

New Market.

Step 1: My next target the market is Japanese car manufacturers like Toyota, Honda, and Nissan.

Step 2: My venture van corporate with those traditional manufacturers to build up more artificial intelligence automobiles or I can say more personalized of the car. Depends on the owner’s habit, the system can modify itself and cater to the car’s owner’s taste.

Step 3: they are not really interested only if this car is economy and well value-maintain.

Step 4:  I am surprised people do not care too much about what the car can give to them. For people, the car is equipment and they want to use the car to create more value to themselves.

24A – Venture Concept No. 1

Today, I will discuss my brand-new venture concept. Under the special times, we are all staying at home and taking a class via Canvas and Zoom online. I feel it is a tough time for both students and colleagues. The restaurants in town shut down, and we are not able to stay outside unless necessary. I sometimes ask myself what can I do when staying at home and what other people do when they stay at home? As I know the Nintendo Switch is all sold out national wide, and the exercising game on the Nintendo Switch, Ring Fit Adventure, also all sold out. Therefore, I will talk about the opportunity I found behind this phenomenon.

Opportunity

1)      who has the need?

a.       People who are “forced” to stay at home for safety and public health reason. I also stay at home and keep studying. But after study, I still got a bunch of free time to do something. Maybe gaming, studying, chilling, exercising, cooking, watching, reading, etc. I believe all others are the same as me. We need some fun when we are staying at home.

2)      The nature of the need.

a.       Even though we need to go to the grocery store, bank, gas station, or maybe hospital but people spend most of the time at home. So, people need entertainment.

3)      What are the forces or changes in the environment creating this opportunity?

a.       COVID-19 is the primary background that put all human in the world on the same side. Emergency order 2020-09-Stay at home in Alachua is the hand push people to stay at home. However, the main reason is for everyone’s safety to stay at home. When people cannot go to the gym, bar, school, nightclub, and, workplace, they feel boring. People need entertainment at home.

4)      How is this market defined geographically and demographically?

a.       Mainly focused on North America because most of Americans and Canadians are staying at home now during this special time. And if the concept is doing well in North America market, I would like to consider developing it in Europe because European and English are also in danger. Most of them also stay at home for health safety.

5)      How are customers currently satisfying this need? And how loyal are they to whatever they use now?

a.       From the market research, I think people are highly satisfied with the in-home entertainment solution. From the Nintendo Switch and its game selling trend, I can feel many people are gaming when they are staying at home. And they would like to play more games because they have a lot of time to spend on it.

6)      How big is this opportunity?

a.       The market has huge potential. Like Sony Play Station, Microsoft Xbox, Nintendo Switch, PC Steam is the winner during this season. They offer a digital edition of gaming that people just click to buy and install immediately without go out. With a little bit of discount to encourage people to pay for the games.

7)      How long will the “window of opportunity” be open?

a.       Be honesty, this window of opportunity can remain at least half to one year. From the current situation, people cannot control this virus spread without any other ways except let people stay at home. The window will keep if the COVID-19 is not eliminated totally. I know it is brutal but like what I said before, all humans need to stay on the same side and beat COVID-19. The vaccine is still under development. And no one knows how long this situation will remain. So, I guess around 6 to 12 months.

Innovation

1)      Innovation of consoles

a.       Most of the consoles on the market have controllers that gamer use to control the player. Most people can easily accept controllers; therefore, I would like to make a new console also with the controllers. But the size can behold by users like iPhone SE. Light, dynamic sensor, ergonomics, a future-tech design that gives the best reaction and gaming experience to the player.

2)      Innovation of the game.

a.       Basing on the existing consoles, generate a new style game on it with multiple family members in front of the television. Comparing to create a totally new console, this innovation is much more fast, low cost, and profitable.

Venture Concept

1)      My game will let people spend time unconsciously. During the game, people will feel time past fast. I want to create a healthy addiction to my game. After people finish their daily study or work, they want to open the console and play my game. But I want to make it healthy. People learned, exercised, and felt happy after the game. And I want to make people positive and happy when they are staying at home. My venture and product solve the question of when people do not know what to do. Therefore, reduce the possibility of people stay outside and can keep their physical and mental health.