ENT3003

What sticks out to me the most as a formative experience in this class was missing my deadline the second week because I assumed that this class had normal deadlines like many of my other classes. Instead of being due at 11:59PM, it was due in the middle of the day and I misread that time. The experience that I'll remember years later from this class is the assignment where I had to interview my friends and learn some of my most unique and special qualities. This is an assignment that I will definitely cherish for a long time coming forward. This was also my most joyous experience because it made me very happy to learn how highly my friends think of me. I think that I was most proud of my venture concept from this class over anything else that I have created because I was able to firm up a lot of my ideas. I definitely do see myself as an entrepreneur more now than ever. I try to look at the world in a different way than how I did when the semester started. Now, I try to look ...

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...

Resources: 1. Connections with others in the industry V: This is valuable because I have experience working in the industry and understanding the pros and cons of this type of business R: This resource is rare because you have to be introduced to them somehow and it is difficult to make this many connections I: This resource is imitable but it is very difficult to obtain without a connection N: There is no way to substitute for these connections. 2. Understanding of current market pricing V: This is valuable because you have to understand the market pricing to be able to competitively price your product. R: This resource is not rare for others in the industry as it is necessary, but may be rare for people who are not in the industry. I: This resource is imitable because you just have to study the market pricing to be able to understand it. However, a lot of this information is not public. N: A substitute for understanding the current market price would just be tr...

Reflection The feedback I received was as follows: I was told that the facts I included were good. I was told to use props but I had used a prop for my first elevator pitch and was told that the prop looked silly so I took it out. I was told to make my pitch longer, which I agreed on. My pitch was too long the first time and too short the second time. This time I think it was just right. Another suggestion I received was to do something in the first 10-15 seconds to grab the viewer's attention but I think that my facts and numbers were good at doing that. I was also told that my catchy phrase at the end was good so I kept it in. Changes For this final elevator pitch, I made a few changes. I added a couple of sentences to make it longer and explain how my service is useful with examples of what it could be used with. I stood closer to the camera so that the viewer could see me better. I also looked less at my script because I had memorized more of it. I found that this time t...

The book that I read for this assignment was Inbound Marketing by Brian Halligan. Although this book was written awhile ago, I think that the information in this book is still helpful because even though the landscape of the internet has changed a lot there is still a lot of interesting information in this book. 1) The general theme or argument of this book is that social media sources can be an insanely valuable asset to building your business and your audience. 2) I believe that this book connected back to our classwork and what we are learning in ENT3003 because we learned how important social media influencers, google results, and blog posts can be to an entrepreneur. We learned how important it is to get linkbacks to our page and a good method of doing that is by following the guidelines outlined in this book. 3) If I had to create an exercise for this class based on the book, I would have the assignment be to create content as it is explained in the create remarka...