Final Reflection

I've had several formative experiences this semester thanks to this class. Looking through my blog and seeing all the work I've devoted to my venture concept and even discovering my next plan, my more longterm goal of starting my own beauty line. Thanks to these assignments, I finally forced myself to sit down and truly think and plan. Plus, with all of the excellent peer reviews, I was able to really question what needs improving in my current plan. I am proud of the accomplishments I have made in this course. At this point in the course, I do find myself to be an entrepreneur and I no longer struggle with spelling it! Another accomplishment haha. This class has made me look at the world of business different and see how to use my creative mind and talents and apply them in an entrepreneurial way. My recommendation to the future students is to not neglect the video lectures. Students have told me that the lectures are not that essential for the course, but in my opinion, its an excellent way to gain knowledge from others experiences. So don't neglect them and learn from others!

Week 15 Reading Reflection

• Something that surprised me with this weeks reading is how truly essential a loyal customer base is! I sort of already expected it but I'm still amazed at how much it matters. In the end, it could really be what makes or breaks a company.

• I did not find any part of this reading confusing. I found it to be a very straight forward read.

• If a company finds themselves in a situation where they have their customers doubting the brand, what could they do to regain it? If a company's website gets hacked and customers bank information gets stolen, what are the proper steps the company should take in this situation?

• I did not find myself disagreeing with the author at any point. It was an overall very interesting reading.

Venture Concept No. 2

The forces in the current environment creating this opportunity is the current rise of social media and the consistent desire to buy. This marked is open to all geographically and demographically. Customers are currently satisfying their needs through Instagram and other social media sites such as that but this app is not meant to compete with those but rather work with them and provide an improvement.

This opportunity is huge due to the fact that it combines everyone: the companies, the bloggers, and the customers/followers. This window of opportunity, I predict, will remain open as long there is a desire to shop and check social media.

I believe customers will switch to this new product because I am offering the customer/follower a method to shop in a more comfortable and straightforward manner. I am offering the blogger a way to elaborate better on the products discussed and offer a website for the followers to click on and direct them straight to the product desired. Lastly, I am offering the companies that desire promoting, a cheaper alternative that, in many ways, reaches out to more consumers than a paid spread on a magazine or commercial. It will not be difficult for customers to switch to this because there has never been anything like this before. 

There is no company or application as simple yet intricate as this! Some companies offer bloggers a place to show their professional photos, some are applications simply for professionals, but with all those you practically start from zero! There is not cost for packaging or concern for location since it will be an online application. For employees, I do not think more than 15 people would be needed. Perhaps some programmers and some individuals familiar in business with good social skills.

Feedback:

Unfortunately, there is not much I can write for this because, despite this being "Venture Concept No. 2", it is actually my very first Venture Concept. I, unfortunately, missed the due date of the first one. I see on this assignment that I could also discuss my feedback for the "What's Next" exercise, however, I missed that due date as well. Therefore, I do not have any feedback to discuss.