Week 15 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

What surprised me was the section on microfinance and how the author thinks that it will solve poverty. I wasn't familiar with this perspective before. 

2) Identify at least one part of the reading that was confusing to you.

Nothing was confusing to me.

3) If you were able to ask two questions to the author, what would you ask? Why?

Do you think microfinance will grow in the future?

What happens when families do not pay the loans back?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I do not disagree with any of the points the author made.

Final Reflection

1) Read through your blog from this semester. Recall all of the experiences you've had along the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

The most formative experience with this blog is remembering the social capital I built and the help I was offered. My most joyous experience would probably be the half-way reflection because I got to express how I felt about the class. I am most proud of my venture concept because I think it came out the way I wanted to and I received praise for it.

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

I do see myself as an entrepreneur and I do believe that I have developed an entrepreneurial mindset.

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

I would recommend keeping up with the class and completing all assignments, as they are essential to your personal development. Set reminders, use a planner, create a routine. To foster the mindset, think innovatively and think about something you're passionate about. Then, think of how you can execute that passion into something real. Good luck.

Venture Concept No. 2

Transcendental Wellness: Save a Life Movement

Opportunity.

Every day is an internal battle for us as the natural human beings we are. We struggle with the sense of identity, who we are, what our purpose is, and seeking our truths. The universal similarity of this is that the fight is within you. Life gifts us the opportunity to seek this fulfillment and some are on the path to enlightenment, some are lost, and some just live by society’s standards. I recognized the issue of fulfillment within myself, and I looked around and noticed that this is common between us all, as we are all equal in that way. We seek fulfillment in all aspects of life. I saw this as an opportunity – a calling to bring change. I want to help everyone fulfill their lives, and begin by recognizing the importance of wellness – of the mind, body, and soul. I want to promote wellness in the aspects of physicality, mentality, and emotion. Every single person that questions or seeks fulfillment needs to aid to the importance of their wellness, and to those I would like to extend a helping hand. This opportunity is universal – as I’ve seen the rise of mainstream wellness come into effect. The influx of people doing yoga, meditation rooms in the workplace, health movements, and even the rise of popularity in psytrance. I want this movement to not only be just a phase but to be a lifestyle change for those who participate and invite all people from all walks of life.

Innovation.

To address this universal need, I want to create a brand, “Transcendental Wellness”. My brand will introduce facilities with classes, workshops, clubs, and gatherings to teach and practice exercise, yoga, meditation, wellness, spirituality, and mindfulness. My plan is to partner with other brands, businesses, movements, and organizations in efforts to push the movement of “saving a life” and to also produce tangible products for the market. Potential products will include, but not limited to teas, merchandise representing the brands, organic foods, herbs, healing crystals, home-décor, incense, and any other products that directly and indirectly promote the movement. For example, my customers may become members for $70 a month and will have all these services open to them. They can choose any service they are interested in to participate. They will receive discounts for products and can bring guests to experience the lifestyle with them.

Venture Concept.

I believe that my innovation will address this opportunity because clarity, health, and wellness in a person’s life are what helps them seek fulfillment in an organic manner, without the influence of media and society. The sole purpose for the promotion of wellness is to help each individual get in tune from within, and from there the journey to fulfillment and truth is solely theirs. My customers are invited to join us as a pit-stop to for their journey or just to practice wellness in their daily lives. Those who seek wellness in all aspects of life will join. My main competitors would be gyms, or movements such as CrossFit, that also promote the importance of wellness but in the aspects of health. My competitors seem to have missed one of the important aspects of health and wellness: mindfulness. The difference between such competitors and myself is that I want to promote wellness in all aspects. Living a healthy lifestyle isn’t just all about eating right and exercising. Without a healthy mind that drives wellness, these aspects can potentially deteriorate in time. Though I do not want to put a price to mindfulness, as the mainstream spread of mindfulness is now, I have to start with this for-profit organization. In time, with the development of my venture, we will expand to non-profit movements. Those involved are not only just my customers but the partners who will be working with me: teachers, instructors, philosophers, spiritualists, and personal trainers.

What’s next.

I want to continue working with this venture for the rest of my life and hope to expand my brand and save lives on a larger scale. But in order to do so, I have to start somewhere and generate some revenue in order to create opportunities for the less fortunate. In turn, all my earnings will go back to the community and hopefully I can make an impact on the world. The importance of wellness and health all around will have a tremendous effect on the conscious and subconscious mind, and with this will influence all that comes just from a process of thought, because thought is what promotes action. Though my movement states to save a life, I believe that saving lives and promoting wellness will in turn potentially save the world – creating the world that recognizes their consciousness and lives on that basis.

Feedback.

All the feedback that I received was praise. The comments I received was that my idea is innovative and they liked my sense of helping others and the community. I did not change my venture concept (other than grammatical errors), and I stand firm with what is aligned here. What I will do from here is do further research on the financial prospect and how I will develop/expand my venture.

Week 14 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

What stood out to me in this week's readings is identifying problems when making ethical decisions. Ethical and moral don't always go hand in hand, and sometimes decisions are far more condensed than just doing the "right thing".

2) Identify at least one part of the reading that was confusing to you.

The venture capitalist screening criteria was a bit confusing. I see how financial projections can be based on "guesses" but is there anything tangible to support these projections? Or did I not understand the material?

3) If you were able to ask two questions to the author, what would you ask? Why?

What do you think borns those who are ethically-challenged in the entrepreneurship word? Is it as deep-rooted as their chemical make-up, or the way they were raised?

How often are financial projections met or exceeded? Are financial projections based on forecasting reliable and accurate?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I do not disagree with anything.

Google Gold

1) For this particular blog, my SEO strategy was weak because I only used the minimum keywords and used only one label for each blog post. It was unintentional for me to pursue SEO for this class. I have crafted a blog for this class but not for the purpose of exposure.

2) My keywords were based on the week in class, they did not change throughout the semester and I did not refine them.

3) I have not used social media to enhance the SEO of my blog besides the YouTube videos used for this class, which I did not craft for the purpose of exposure. It was for purposes of educational materials. However, I do believe the YouTube videos may have gained little exposure just because they needed to be viewed for comments in this class. I have used social media for SEO efforts outside of this class, for example, I am a writer for EDMTunes and have used Facebook to gain reach.

4) My post that got the most reach was my Idea Napkin No. 1. I believe this may be so because of my venture idea and using keywords in my post such as "wellness" and "mindful".

5) Definitely not because I did not use any keywords. I googled for the ENT3003 blogs and my blog does not show up in the search.

Week 13 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

What stood as a surprise for me for this week's reading is the many aspects that need to be considered when starting a new venture. I knew this was necessary, however, I did not realize how in depth it was and how you can miss something so easily.

2) Identify at least one part of the reading that was confusing to you.

There was nothing particularly confusing to me in this week's reading.

3) If you were able to ask two questions to the author, what would you ask? Why?

How do you know if the value of the business you're calculating is accurate?

When do you know the value of a business is not going to potentially grow and not worth investing in?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I do not think that there's anything I disagree with the other on this week.

Celebrating Failure

1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time. 

I have never been strong in grammar and this semester was the first time I've taken a grammar-based class since 12th grade. It's been a couple years and recently switching my major to Advertising, I haven't been familiarized with AP style or the journalism style of writing. I have failed twice - two papers that were grammar-based wrecked my grade. Little mistakes in sentence structure, comma use, and run-on sentences seemed to be my weakness.

2) Tell us what you learned from it.  

What I've learned is that I'm so focused on covering a lot of material instead of keeping it short, consistent, and with the least grammatical errors.

3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were four months ago? 

I think failure can be difficult to deal with because the path to your end-goal is tainted and the end seems less tangible or realistic. However, with failure comes wisdom and change. The way I handle failure is to remind myself that no matter what happens, I can always find a solution for the greater picture. This class has helped me realize that I'm not perfect, and that's OK. I've reached out to many people including the professor to help and was genuine in my reasoning as to why I was failing. I genuinely suck at grammar. She understood this and gets that it is a learning process. I am less likely to take a risk now because it will result in a failure grade - which I cannot afford to have. All in all I am trying my best to pass.

My Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

I personally would love to protect the venture and pass it down to my children, however with a venture such as mine I do not just need someone to take it over - I need someone who is passionate about it, well-educated, and driven. If this person is not my child, then it will be someone who holds these qualities.

2) Why have you selected this particular exit strategy?

I have selected this particular exit strategy because it doesn't just need a business-minded person to run, but a like-minded person as well. 

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

I believe it has influenced my growth intentions because it means I'm not just bringing in anyone, especially an individual that is looking to just have person gain (in the sense of monetary value, socioeconomic status, etc.) It also means those working with me will carry not only the same skillset (if not broader) but a like-mind and a burning passion. I believe that these aspects are the backbone of a business.

Week 12 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

What surprised me was the matrix strategy - all the intricate details following how to start an entrepreneurial journey made clearer sense after going over this reading.

2) Identify at least one part of the reading that was confusing to you.

I did not find anything confusing this reading.

3) If you were able to ask two questions to the author, what would you ask? Why?

Would the matrix strategy apply to all circumstances universally? What would be an exception? I want to know because I think that having just a skeleton layout that could be applied to all ventures is very efficient and extremely helpful.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How

I do not disagree with anything the author was saying.

Venture Concept No. 1

Transcendental Wellness: Save a Life Movement

Opportunity.

Everyday is an internal battle for us as the natural human beings we are. We struggle with the sense of identity, who we are, what our purpose is, and seeking our truths. The universal similarity of this is that the fight is within you. Life gifts us the opportunity to seek this fulfillment and some are on the path to enlightenment, some are lost, and some just live by society’s standards. I recognized the issue of fulfillment within myself, and I looked around and noticed that this is common between us all, as we are all equal in that way. We seek fulfillment in all aspects in life. I saw this as an opportunity – a calling to bring change. I want to help everyone fulfill their lives, and begin by recognizing the importance of wellness – of the mind, body, and soul. I want to promote wellness in the aspects of physicality, mentality, and emotion. Every single person that questions or seeks fulfillment needs to aid to the importance of their wellness, and to those I would like to extend a helping hand. This opportunity is universal – as I’ve seen the rise of mainstream wellness come into effect. The influx of people doing yoga, meditation rooms in the workplace, health movements, and even the rise of popularity in psytrance. I want this movement to not only be just a phase, but to be a lifestyle change for those who participate and invite all people from all walks of life.

Innovation.

To address this universal need, I want to create a brand, “Transcendental Wellness”. My brand will introduce facilities with classes, workshops, clubs, and gatherings to teach and practice exercise, yoga, meditation, wellness, spirituality, and mindfulness. My plan is to partner with other brands, businesses, movements, and organizations in efforts to push the movement of “saving a life” and to also produce tangible products for the market. Potential products will include, but not limited to: teas, merchandise representing the brans, organic foods, herbs, healing crystals, home-décor, incense, and any other products that directly and indirectly promote the movement. For example, my customers may become members for $70 a month and will have all these services open to them. They can choose any service they are interested in to participate. They will receive discounts for products and can bring guests to experience the lifestyle with them.

Venture Concept.

I believe that my innovation will address this opportunity because clarity, health, and wellness in a person’s life is what helps them seek fulfillment in an organic manner, without the influence of media and society. The sole purpose for the promotion of wellness is to help each individual get in tune from within, and from there the journey to fulfillment and truth is solely theirs. My customers are invited to join us as a pit-stop to for their journey or just to practice wellness in their daily lives. Those who seek wellness in all aspects of life will join. My main competitors would be gyms, or movements such as crossfit, that also promote the importance of wellness but in the aspects of health. My competitors seem to have missed one of the important aspects of health and wellness: mindfulness. The difference between such competitors and myself is that I want to promote wellness in all aspects. Living a healthy lifestyle isn’t just all about eating right and exercising. Without a healthy mind that drives wellness, these aspects can potentially deteriorate in time. Though I do not want to put a price to mindfulness, as the mainstream spread of mindfulness is now, I have to start with this for-profit organization. In time, with the development of my venture, we will expand to non-profit movements. Those involved are not only just my customers but the partners who will be working with me: teachers, instructors, philosophers, spiritualists, and personal trainers.

What’s next.

I want to continue working with this venture for the rest of my life and hope to expand my brand and save lives on a larger scale. But in order to do so, I have to start somewhere and generate some revenue in order to create opportunities for the less fortunate. In turn, all my earnings will go back to the community and hopefully I can make an impact on the world. The importance of wellness and health all around will have a tremendous effect on the conscious and subconscious mind, and with this will influence all that comes just from a process of thought, because thought is what promotes action. Though my movement states to save a life, I believe that saving lives and promoting wellness will in turn potentially save the world – creating a world that recognizes their consciousness and lives on that basis.

Week 11 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I am surprised that businesses won't take the time to find innovative ways to change their products/services. I am surprised they don't practice innovation, when innovation is an ever-growing trend in our highly sophisticated technological world.

2) Identify at least one part of the reading that was confusing to you.

I wasn't particularly confused, just the landscape map.

3) If you were able to ask two questions to the author, what would you ask? Why?

Why have companies not taken the time to innovate? Is this because of a loss of passion or interest in being different?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

No, I do not disagree with the author in anyway this section.

Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 

My retail drivers will include my market, my employees, and my affiliates.

• Describe what kind of product offering you believe should be next. What's the next thing your customers want?

My customers would probably want next is merchandise such as clothes or accessories promoting my brand and the movement they are a part of. Since what I want to develop isn't necessarily tangible, this would be a representation. I would use all recycled material and sources from organic farms.

• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

It would offer customer loyalty because my customers would be wearing my brand and they would have the opportunity to physically represent want they believe in as well as bring awareness. It is also a great addition to my services because it will help generate more revenue.

• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

• Describe what design/usability changes you'd make to the product. 

I would create my own brand and logo but it would be visually appealing like so - except with better image quality, bright colors, and different fabric/manufacturer.

My Unfair Advantage

Resources:

• Social Capital - I believe I have a large social capital because I have met many people who have the same interests, work in the same field I am interested in, or have experience. I also network (primarily on facebook) with many like-minded individuals.
• Industry Expert
• V - Yes, an industry expert is valuable because you need a broad spectrum of a perspective of the industry in order to satisfy potential customers.
• R - Social capital is not rare.
• I - No
• N - Yes, an industry cannot be substituted with other resources because it is unique and distinct.
• Supplier Expert
• V - Yes, a supply expert is valuable because you need a broad spectrum of perspective in order to satisfy potential customers.
• R - Social capital is not rare.
• I - No
• N - Yes, social capital cannot be substituted with other resources because it is unique and distinct.
• Market Expert
• V - Yes, a market expert is valuable because you need a broad spectrum of perspective in order to satisfy potential customers.
• R - Social capital is not rare.
• I - No
• N - Yes, social capital cannot be substituted with other resources because it is unique and distinct.

• Capabilities - My capabilities include: 
• the endurance to strive for the best image of what I want my future venture to be
• V - Yes, because without endurance I wouldn't be able to be an entrepreneur.
• R -  No, it isn't rare but can be distinct to an individual.
• I - No
• N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
• the ability to create a brand of "wellness"
• V - Yes, because without the ability to create a brand I wouldn't be able to be an entrepreneur.
• R -  No, it isn't rare but can be distinct to an individual.
• I - No
• N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
• visionary 
• V - Yes, because without being a visionary I wouldn't be able to be an entrepreneur.
• R -  No, it isn't rare but can be distinct to an individual.
• I - No
• N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
• customer service skills
• V - Yes, because without customer service skills I wouldn't be able to be an entrepreneur.
• R -  No, it isn't rare but can be distinct to an individual.
• I - No
• N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
• leadership skills 
• V - Yes, because without leadership skills I wouldn't be able to be an entrepreneur.
• R -  No, it isn't rare but can be distinct to an individual.
• I - No
• N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
• experience in meditation
• V - Yes, because without experience in aspects of it I wouldn't be able to be an entrepreneur.
• R -  No, it isn't rare but can be distinct to an individual.
• I - No
• N - No, because your capabilities are your skills to being an entrepreneur and without them you may fail.
• Economic - I have been working for the past 4 years with various different businesses and have seen businesses from the start until the day they go out of business.
• V - Yes, experience in the workplace gives you the perspective of the employees mindset.
• R - No, many people are in the workforce.
• I - No,
• N Yes, it may with an understanding of the aspect instead of being involved.

My top resource is probably social capital because with what I want to pursue, an interest in it would only come from those who are like-minded and those people play the most important role in my future venture.

Week 10 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

What surprised me about this week's reading is the many forms of budgeting. I always thought budgeting meant to blatantly budget - what you can afford is what you can, what you can't, you can't.

2) Identify at least one part of the reading that was confusing to you.

There was nothing too confusing to me because I was formerly a business major and a part of the academy of finance in the past.

3) If you were able to ask two questions to the author, what would you ask? Why?

Would you recommend a financial advisor or someone to manage a business' finances rather than the owner themselves? I ask this because although the owner knows what they want and can envision the future for their business, but is it ok for them to dabble in finances? Is this a liability issue for the business as a whole?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I do not disagree with any of the facts stated in this section. 

Growing My Social Capital

Domain/Industry Expert:

1) Kayla N. is a business consultant and runs two wellness related businesses.

2) Kayla would be a domain expert because of her experience in working with businesses of the like. 

3) I met Kayla through a facebook group I am a part of. A few weeks ago I went to Okeechobee Music & Arts Festival. The demographic of the majority of people that attended are very interested in wellness and spirituality, so I met and networked with many like-minded people that participate in the promotion of wellness as a lifestyle.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

5) Including Kayla in my network will help me with any business-related questions or concerns since she is a professional in the field. Her perspective will give me a broad insight and also help me become successful in my endeavors.

Market Expert:

1) Kat O. works for a crystal company. 

2) Kat is a market expert because of her experience in working with products that promote wellness. "We sell crystals and provide information on metaphysical aspects of life with them. We also have opened a membership site that explores the benefits of using crystals with astrology, meditation, tarot, teas, healing, etc."

3) I met Kat through a facebook group I am a part of. A few weeks ago I went to Okeechobee Music & Arts Festival. The demographic of the majority of people that attended are very interested in wellness and spirituality, so I met and networked with many like-minded people that participate in the promotion of wellness as a lifestyle. I posted in the group asking for help because I needed to grow my social capital.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

5) Kat would be a great person to be a part of my network because she understands the market and needs of potential customers. With her experience in marketing products with healing properties to customers, her insight may be able to help me in what people in nature seek.

Supplier 'Expert':

1) Jimmy H. is a licensed massage therapist, personal trainer, and "wellness professional."

"My name is Jimmy Hawk. I've been a licensed massage therapist since 2010. Currently, I work at Starbucks, but I'm in the process of creating a mobile wellness center. From a very young age, my dream has always been to travel and make people happy and healthy."

2) I consider Jimmy as a supplier expert because he is the person that gives services to his clients. 

"My expertise are in massage therapy and personal training. I went to Sarasota school of massage therapy and loved every minute of it. I've always had a passion for wellness. I'm also a Healthcare professional in other ways. I worked in a memory care unit in an assisted living facility for 3 years. I then shifted towards private care. Still mostly working with memory care patients. (People with some form of dementia)."

3) I met Jimmy through a facebook group I am a part of. A few weeks ago I went to Okeechobee Music & Arts Festival. The demographic of the majority of people that attended are very interested in wellness and spirituality, so I met and networked with many like-minded people that participate in the promotion of wellness as a lifestyle. I posted in the group asking for help because I needed to grow my social capital. He was eager to be involved and help!

4) "The nature of the exchange. Unless you are living entirely self-sustainably, exchange in some way is required to survive. Ideally, we exchange the things we have for the things we need."

5) Including Jimmy in my network will exploit an opportunity because he's had intimate and personal contact with his clients, so he knows how wellness effects people and how to care for his patients. Since my future business seeks to help people with wellness in all aspects, Jimmy is a potential asset.

EDIT: "I have a passion for wellness as well. I understand you're trying to increase self-awareness. You're the goal is to save lives. I think you're going to need a solid team of like-minded wellness professionals.
As far as advice goes. I say follow your passion. Even if the business end never becomes lucrative for you. You'll, at least, be doing what you want to do. Living how you feel you should live. As for the pitch itself. If you mean the YouTube video. I would say maybe find a better quality camera and mic. Maybe have some more enthusiasm and personality in your tone. Overall, I feel like I'm in the same boat as you. I also want to save lives through wellness and self-awareness. We share this goal. I love the whole idea. I wish you good luck in all your endeavors. I hope we can stay connected and maybe one day even collaborate. Join together and unite in our paths to wellness and truth. Thanks, Tina. Be well."

Reflect.

This experience will help me in the future because now I have experience encountering like-minded people and people with the same passions as myself. This experience is different from the ones in the past because these individuals actually showed interest in me and my endeavors, had the willingness to network, and willingness to give me feedback and establish contact. Unfortunately, I haven't gotten all of the feedback yet but we are established in conversation and still messaging.