ENT3003

Venture Concept Write-Up My venture concept is "Endless Mode", a gaming bar/PC Bang that allows equipment to be rented out for use 1. Opportunity The group of customers with an unmet need are people who cannot afford to keep up with the release schedules of major game developers and people who are interested in casually trying out new developments in technology but do not want to commit to owning that technology because of cost or space required. The changes in the environment creating this opportunity are the constant releasing of new games combined with the appearance of the new game and tech developers on the scene. This market is geographically located all over the United States, but many near college campuses. Demographically, this market is filled with people who are young adults (18-26) and older adults (50-60). The customers are currently satisfying this need by purchasing as much as they can and then missing out on content that they want to enjoy until they can affor...

1) The general theme/argument of this book is that it is insanely important to take advantage of social media. The book teaches you different techniques on how to make this a reality through different techniques and information that is important to know if you are planning on using your social media to grow your presence. 2) This book in my opinion connected with what I was learning in ENT 3003 because a lot of the things we are doing currently (such as writing in this blog) are important to growing your presence as an entrepreneur. Dr. Pryor mentioned linkbacks often and a good way to get started on these is following the outlines of this book by posting in blog and integrating your social media. 3) If I had to design an exercise for this class based on this book I think the exercise would involve picking a topic to write about on social media (in our class blog) that is not something you enjoy to write about but is something that those interested in your entrepreneurial purs...

1) The exit strategy that I plan to make is that I plan to protect this business until I retire. I want to continue working with this business for the rest of my life until I can no longer work with it, and then preferably pass it on to someone who really enjoys the industry. I think that I would not want to force this onto my family because I think that everyone who opens a business does so because they are especially interested in it. I do not think that it is a good idea to force a business onto someone unless they are absolutely interested in working with that concept. 2) I have selected this exit strategy because I have a love for this industry. I think that this is something that I'm very invested in and I would very much regret selling the company only after a few years. For me, this entrepreneurship idea is more of a dream project than a quick way to make money. I think that one of the only ways to be successful continually in this entrepreneurship concept is for me t...

1) An example of a time this past semester that I failed is a failure that I am currently experiencing. I had planned far too much for this semester between research, applying to graduate school, classes, and extracurriculars. As a result, I am struggling to keep everything to a higher standard and I am letting certain things slip through. I have not been able to study to the extent that I wanted to for the LSAT and I am worried that it will negatively impact my score on the exam and I will have to take it over again. 2) Something that I learned from this experience is that it is always better to bite off less than to schedule too much. It is important to be clear to people about your expectations and let them know that you are too busy. I think that I struggle a lot with telling people that I cannot help them and as a result, I took on too many tasks. 3) In general, I think that failure is necessary for growth. Even though it will not feel good at the time it happens, it teaches us ...

Existing Market: What makes the most sense for me in my venture in terms of growth is to provide more resources to sweeten the pot for consumers. Since my business is service-based, many of the people I interviewed said that as long as I am providing the service I can only grow by improving what is offered by my service or by providing more. Since my service will already be competitively priced and offering any games that the customer wants (though it will take a while to build up a catalog), I asked for the people I interviewed to tell me what customers might want in this environment besides the games and consoles they are renting. Some ideas were drinks, additional capability for streaming, unlocked DLC for games, and early release parties. Based on the suggestion for early release parties, I started to think that perhaps I can make event-focused activities to get more customers in. Perhaps I would be able to host watch parties and sell beverages and snacks as a way to advertise...

Venture Concept Write-Up My venture concept is "Endless Mode", a gaming bar/PC Bang that allows equipment to be rented out for use 1. Opportunity The group of customers with an unmet need are people who cannot afford to keep up with the release schedules of major game developers and people who are interested in casually trying out new developments in technology but do not want to commit to owning that technology because of cost or space required. The changes in the environment creating this opportunity are the constant releasing of new games combined with the appearance of the new game and tech developers on the scene. This market is geographically located all over the United States, but many near college campuses. Demographically, this market is filled with people who are young adults (18-24) and older adults (50-60). The customers are currently satisfying this need by purchasing as much as they can and then missing out on content that they want to enjoy until they can af...