Week 6 Reading Reflection

• While reading about Michael Porter's five competitive forces, I was surprised to learn about the differences in industry profitability. Especially that sometimes fast growing industries are not always profitable.

• I did not find any part of this reading confusing. This was definitely a very straight forward reading.

• How could a company that is not profitable still grow at a reasonably rapid speed? Which of the steps in conducting an industry analysis is most important? These questions would help me with how to go about planning my future business.

• I found myself disagreeing when it came to the fast pace and profitable industries. In my opinion, if a company is growing at a rapid rate, they have to be making some decent profit. 

Idea Napkin No. 1

1) You. My name is Evelyn Fernandez and I am currently a student at the University of Florida pursuing a major in Mechanical Engineering and a minor in Entrepreneurship. But aside from school, I have an incredible passion for beauty and fashion! Seven months ago I created a beauty and fashion blog that continues to grow in followings every day (instagram.com/evicitta). With the use of this blog, I have seen the world of promotions and the world of consumers. Every day I take a photo using some product from some brand and followers bombard me with questions of "where is it from?", "where can I get it?", "how do you like it?", etc. With the time spent in this "business", I have witness the good and the bad, and because of this, I have found a better way to go about it, and that way is Gravity Shop. With the use of this app, I expect my blogging process to become much less time consuming, repetitive, and thus more enjoyable. 

2) What are you offering to customer? 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 payed spread on a magazine or commercial. This app will easily connect to a bloggers primary website, save every post the blogger makes on such website, and then when the blogger is ready, they can open the app, attach websites to the products used, and even include promo codes for the followers to use! A link to the site will then be attached to their primary blog so that all followers interested can easily access and shop! 

This app will also help companies with the search for inspirational bloggers! Gravity Shop will track the bloggers follower count and from that, select bloggers that meet the companies "look" and offer to send them products to promote. This cuts time and money spent by the company in order to promote their brand! All that is asked is for the company to pay a set monthly amount, which is based on how many promotions they desire to have in that given month. That monthly fee is then given to the bloggers promoting. Blogger salaries will be based on the amount of followers and the amount of posts. For example, a blogger with 5K+ followers will be payed 25 cents per post and a blogger with 10K+ followers will be payed 50 cents per post, and it continues. 

3) Who are you offering it to? This application is offered to bloggers/promoters, followers/customers, and companies/brands. This application is for anyone who seeks an easier way to promote, sell, buy, or blog. This app is for anyone with a passion for beauty, fashion, or just simply shopping!

4) Why do they care? Companies/Brands care because it is an easier way to promote their products with a more honest and personal feel. First off, with the increase of social media, there is a better chance of a customer coming from a social media site than from a commercial on TV(who even watches commercial anymore?). Plus, with a blogger helping to promote, the customer has somebody to go to and ask question and get personal feedback! Bloggers care because they have a way to try more products and share with followers! Last but not least, customers/followers can get more reviews on products they are interested in and have an easier way to shop for exactly what they want!

5) What are your core competencies? 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! With Gravity Shop, your work from your primary blog is saved and ready to edit and get payed! Everything is just overall made easier for everyone!

In my opinion, these five elements all seem quite put together and organized. But feedback and criticism leads to a better final product! So I would love to get some feedback from as many people as possible! The only weak point at the moment is how to get access to save posts from all those primary blog websites. Aside from that, I feel this company would be wonderful!