1. This is a difficult decision to make based on the fact that I haven't started this business. I would have to base it on profit. But, if I had to choose, I would sell it in the next 5 years or so.
2. The reason why I would probably sell it in the next 5 years is because I want to eventually start a family and this business would require me to travel to different college campuses around the United States. I would want to start another business locally. Not sure what yet, but I do want it to be another type of business than what I created for this class. There is a lot of potential with selling plastic alternatives, but I would want to sell another product.
3. My exit strategy has influenced me to think about the future of my business idea. If I'm planning on selling it, I have to make sure it succeeds so the next person will want to invest in it. My exit strategy has also influenced me to expand my product line and potentially target a new segment of people.
Thursday, November 29, 2018
27A: Reading Reflection No. 3
1. The last book I read for this class is called "How to Fail at Almost Everything and Still Win Big" by Scott Adams. The general theme of this book was how to be successful even after failing many times. Adam gave some great advice based on his experiences. His main thing was using systems and not setting goals. A system is how you get to your goal and if you don't have a system, you will not achieve your goals. Having good habits such as eating right and exercising and having energy were his main focus.
2. The book connected with me and enhanced my learning in this class because I one day want to be an entrepreneur. There will be plenty of times when I fail, and I just have to keep going and gain skills from each job and use it to my advantage. Adam was also big on affirmations. He believed if he told himself he would do something or achieve something, that it would happen. He also was big on luck. He thinks everything happens at the right moment. I believe if the moment is right, something good will happen.
3. If I had to design an exercise for this class, the exercise would be to write down all of your skills and how each one has helped you in something. Adam talks a lot about skills and which ones are important. Some of the skills he mentioned were speaking skills, design skills, accounting skills, and conversation skills. Being good at many skills is better than being great at one according to Adam. I agree with him.
4. My biggest surprise was when Adam said he couldn't speak for three years. In the beginning when I was reading the book, I would have never guessed that because he seemed like a social person. He was, but one day he couldn't speak and he didn't know why. He saw a lot of doctors and eventually found a cure for his spasmodic dysphonia. He went through a long recovery that was not guaranteed and recovered well and was able to speak again.
2. The book connected with me and enhanced my learning in this class because I one day want to be an entrepreneur. There will be plenty of times when I fail, and I just have to keep going and gain skills from each job and use it to my advantage. Adam was also big on affirmations. He believed if he told himself he would do something or achieve something, that it would happen. He also was big on luck. He thinks everything happens at the right moment. I believe if the moment is right, something good will happen.
3. If I had to design an exercise for this class, the exercise would be to write down all of your skills and how each one has helped you in something. Adam talks a lot about skills and which ones are important. Some of the skills he mentioned were speaking skills, design skills, accounting skills, and conversation skills. Being good at many skills is better than being great at one according to Adam. I agree with him.
4. My biggest surprise was when Adam said he couldn't speak for three years. In the beginning when I was reading the book, I would have never guessed that because he seemed like a social person. He was, but one day he couldn't speak and he didn't know why. He saw a lot of doctors and eventually found a cure for his spasmodic dysphonia. He went through a long recovery that was not guaranteed and recovered well and was able to speak again.
26A: Celebrating Failure
1. A time I failed this semester was when I applied for a job at a big company and did not get an interview. I put a lot of effort in my application and my referral. I got an informational interview before the job application was open but after I applied, I did not get a call back.
2. I learned from this experience that being prepared for anything is key. I also learned that there will be times when I won't be the best candidate for a job and that I should not give up looking. I actually applied for a job while I was applying for this one and got the job. You never know what opportunities will show up until you try.
3. I think failure is something that everyone experiences and learns from. Failure means you didn't try your best or you weren't the best fit. Failing should teach someone that they need to work on something in order to be successful next time. I handle failure by thinking about the bright side and knowing that it's not the end of the world. I like to go on a run and release any anger and move on. I am more likely to take more risks now. This was my first "real job" that applied for and I will keep trying.
2. I learned from this experience that being prepared for anything is key. I also learned that there will be times when I won't be the best candidate for a job and that I should not give up looking. I actually applied for a job while I was applying for this one and got the job. You never know what opportunities will show up until you try.
3. I think failure is something that everyone experiences and learns from. Failure means you didn't try your best or you weren't the best fit. Failing should teach someone that they need to work on something in order to be successful next time. I handle failure by thinking about the bright side and knowing that it's not the end of the world. I like to go on a run and release any anger and move on. I am more likely to take more risks now. This was my first "real job" that applied for and I will keep trying.
Friday, November 16, 2018
25A: What's Next?
Existing Market:
1. What's Next: I want to expand my product line to five products instead of three.
2. I interviewed three customers who are already part of the market for alternatives to plastic. I told all three customers about my business plan and what they think I should do next. The first person I interviewed told me to stick with three products first and have a test run and in a couple months expand my product line. She told me to do this so that I don't get to overwhelmed in the beginning. The second person I interviewed liked my idea and told me to expand my market even more. She thinks there is another target audience out there such as families. She said children should grow up learning about saving the environment. The third person I interviewed also liked my idea and told me to get my products in stores. He said that would help with brand awareness and really getting my product out there.
3. Based on the feedback I got from these interviews, what makes the most sense to me is sticking with my idea of marketing on college campuses but I would also consider getting my product in stores.
2. I interviewed three customers who are already part of the market for alternatives to plastic. I told all three customers about my business plan and what they think I should do next. The first person I interviewed told me to stick with three products first and have a test run and in a couple months expand my product line. She told me to do this so that I don't get to overwhelmed in the beginning. The second person I interviewed liked my idea and told me to expand my market even more. She thinks there is another target audience out there such as families. She said children should grow up learning about saving the environment. The third person I interviewed also liked my idea and told me to get my products in stores. He said that would help with brand awareness and really getting my product out there.
3. Based on the feedback I got from these interviews, what makes the most sense to me is sticking with my idea of marketing on college campuses but I would also consider getting my product in stores.
1. Currently I am targeting college students on college campuses. The new market that I would target is older adults between the ages of 25-50 at sports bars. I think this would be a good idea because I would be selling products with college logos on them.
2. I would create a value for this new market because usually people who go to sports bars watch college football and I think they would be interested in buying my product with their college logo on them.
3. I interviewed two people from this new market. I recently went to a sports bar and interviewed two people there. The first person was in his late 20s and told me that selling products at sports bars is a great idea. He said he's seen people do that before and people were buying them. The second person I interviewed was in her 40s. She loved my idea and said men who bring their wives to watch football would love the distraction and would definitely want to buy my products.
4. Overall, I knew about this potential market, and I like the idea. I want to continue working on my current target market and see where that goes. If I do not see the results I want, I will consider trying a new market.
24A: Venture Concept No. 1
Opportunity:
Innovation:
The products that I am going to sell are reusable products such as reusable water bottles, reusable grocery bags, and metal straws with college logos on them. Each product will be priced differently based on what the product is. Reusable water bottles will run for $7, reusable grocery bags for $5 and metal straws for $3. I believe these are reasonable prices and since they are reusable they will last a long time. They will also have the universities logo on them so that is a way I can have college students promote for me. Of course, I will also have my company's logo on each product. If these three products are successful, I will create new products with college logos on them.
Venture Concept:
My idea of an organization on college campuses that will promote alternatives to plastic and sell them too with college logos on them addresses the opportunity of decreasing the use of plastic and increasing the use of alternatives to plastic. I believe customers will buy my product because it is priced reasonably and it is in an easily accessible location for my target audience. I believe customers would switch from plastic to my products because they are unique and they are eye-catching. I don't think it will be too hard to get them to switch after I tell them the negative effects of using plastic. Some people are uneducated about the negative effects on plastic on human health and our environment, that once they know, they will be interested in buying. I don't believe there are any competitors right now on campus. There are competitors who sell reusable water bottles and reusable grocery bags with college logos on them, but I have the advantage of selling on college campuses. If I do decide to expand outside of college campuses, then I will have more competition, but I will have more expertise in the market.
Regarding packaging, my products will be packaged in cardboard boxes in bulk. I will not individually package these products because I don't think there is a need. My products will be displayed at booths on all college campuses and will be sold to college students. If I see an opportunity to expand outside of college campuses, I will begin selling them to sports bars. I was recently at a sports bar and someone came in and sold reusable bottles with college logos on them and the customers were ecstatic and were buying them up. If I were to sell to sports bars, I would raise my prices to $10 for a reusable water bottle, $7 for reusable grocery bags, and metal straws I would keep the same at $3. My target audience would expand, and I would be able to raise my prices because I would be targeting older people with higher income and discretionary income to spend on nonessential things.
If I were to start this business, I would travel to different college campuses to promote my product. Then, I would start hiring and training people so that they could promote and sell my product for me. I would also need someone in charge of inventory and storage. Eventually, I would want to open up my own office and start a marketing and training program that would prepare people for success in the field. Employees would have the role of selling, marketing, and attending meetings.
Three Minor Elements:
1. My most important resource will be my expertise in sales. I have expertise in sales that will help me kickstart this company. I know how to sell to people successfully and I believe that is key in this business plan.
2. What's next for my venture is actually implementing my plan and getting in one of the college campuses to start my business. Once I do that, I want to start hiring and training.
3. In five years, I want to have my own office and have expanded to at least 20 college campuses. In 10 years, I want to have expanded to 50 college campuses. I want to be the CEO of my company and train other people to be successful like me.
Everyone has an unmet need for alternatives to plastic. Out of all of the people I interviewed, everyone said they had an unmet need for alternatives to plastic. Most grocery stores use plastic, but do have the option of paper bags. If you do research on plastic, you'll find that it can take over a thousand years to decompose. I feel like a lot of people are either uneducated about the negative effects of plastic or just don't care about the environment. College students are on a budget and I want to sell reusable products that are reasonably priced. Plastic is so cheap, but it harms our environment. College students are always thinking of new ways to help our environment that's why I believe this is a great opportunity. My market is defined geographically all over the United States on college campuses. College students are between the ages of 18-25, male or female, some discretionary income, and enjoy socializing, exercising, and binging on Netflix.
The environment is harmed by the effects of plastic and is damaging our Earth. There is so much plastic in the ocean that animals are mistaking it for food. Plastic also cause health problems for humans because there are toxic chemicals in the plastic that leaches into our bodies which can cause serious health problems. I know a few people who are using alternatives to plastic and they are loyal customers. This is a huge opportunity because plastic is being banned in some states now and soon there won't be any more plastic (hopefully). I believe the "window of opportunity" will be open for years down the line. Plastic has harmed our Earth and oceans for a long time and I believe we can eventually get rid of plastic to save our planet.
The environment is harmed by the effects of plastic and is damaging our Earth. There is so much plastic in the ocean that animals are mistaking it for food. Plastic also cause health problems for humans because there are toxic chemicals in the plastic that leaches into our bodies which can cause serious health problems. I know a few people who are using alternatives to plastic and they are loyal customers. This is a huge opportunity because plastic is being banned in some states now and soon there won't be any more plastic (hopefully). I believe the "window of opportunity" will be open for years down the line. Plastic has harmed our Earth and oceans for a long time and I believe we can eventually get rid of plastic to save our planet.
Innovation:
The products that I am going to sell are reusable products such as reusable water bottles, reusable grocery bags, and metal straws with college logos on them. Each product will be priced differently based on what the product is. Reusable water bottles will run for $7, reusable grocery bags for $5 and metal straws for $3. I believe these are reasonable prices and since they are reusable they will last a long time. They will also have the universities logo on them so that is a way I can have college students promote for me. Of course, I will also have my company's logo on each product. If these three products are successful, I will create new products with college logos on them.
Venture Concept:
My idea of an organization on college campuses that will promote alternatives to plastic and sell them too with college logos on them addresses the opportunity of decreasing the use of plastic and increasing the use of alternatives to plastic. I believe customers will buy my product because it is priced reasonably and it is in an easily accessible location for my target audience. I believe customers would switch from plastic to my products because they are unique and they are eye-catching. I don't think it will be too hard to get them to switch after I tell them the negative effects of using plastic. Some people are uneducated about the negative effects on plastic on human health and our environment, that once they know, they will be interested in buying. I don't believe there are any competitors right now on campus. There are competitors who sell reusable water bottles and reusable grocery bags with college logos on them, but I have the advantage of selling on college campuses. If I do decide to expand outside of college campuses, then I will have more competition, but I will have more expertise in the market.
Regarding packaging, my products will be packaged in cardboard boxes in bulk. I will not individually package these products because I don't think there is a need. My products will be displayed at booths on all college campuses and will be sold to college students. If I see an opportunity to expand outside of college campuses, I will begin selling them to sports bars. I was recently at a sports bar and someone came in and sold reusable bottles with college logos on them and the customers were ecstatic and were buying them up. If I were to sell to sports bars, I would raise my prices to $10 for a reusable water bottle, $7 for reusable grocery bags, and metal straws I would keep the same at $3. My target audience would expand, and I would be able to raise my prices because I would be targeting older people with higher income and discretionary income to spend on nonessential things.
If I were to start this business, I would travel to different college campuses to promote my product. Then, I would start hiring and training people so that they could promote and sell my product for me. I would also need someone in charge of inventory and storage. Eventually, I would want to open up my own office and start a marketing and training program that would prepare people for success in the field. Employees would have the role of selling, marketing, and attending meetings.
Three Minor Elements:
1. My most important resource will be my expertise in sales. I have expertise in sales that will help me kickstart this company. I know how to sell to people successfully and I believe that is key in this business plan.
2. What's next for my venture is actually implementing my plan and getting in one of the college campuses to start my business. Once I do that, I want to start hiring and training.
3. In five years, I want to have my own office and have expanded to at least 20 college campuses. In 10 years, I want to have expanded to 50 college campuses. I want to be the CEO of my company and train other people to be successful like me.
23A: Your Venture's Unfair Advantage
1. I am highly organized, hard-working, and determined. If I set my mind to something, I will achieve it.
This resource is valuable because it is my character and not just anyone can create an idea and execute it. This resource is rare because I am a unique person with different quirks. This resource is inimitable because no one knows my tricks for achieving things. This resource is non-substitutable because I am the only one who has these characteristics.
2. I have connections from work that will help me succeed.
This resource is valuable because my boss started his own company from the bottom and would help me. This resource is rare because there are not a lot of business owners like my boss. This resource is inimitable because no one is like my boss. This resource is non-substitutable because although there are some owners out there like him, my boss is not substitutable.
3. Reusable products are pretty new and selling them with college logos on college campuses will target my audience perfectly.
This resource is valuable because college students are my target audience and selling on college campuses will help me to succeed. This resource is rare because there isn't a club on campus that does this. This resource can be copied only if someone steals my idea.
4. I have experience working at a start-up company.
I have the experience needed to start my own business. Anyone can get this knowledge, but who you get the knowledge from is rare. Everyone's way of doing something is unique so making sure you get the knowledge from the best, will be the most beneficial.
5. My family would help me financially.
My family supports my decisions and would help me with my business plan. My family is not substitutable and they are rare.
6. I have connections with the Human Resources director at my work who would help me.
The Human Resources director could help me with any questions I have whether about social media or supplies. She is in charge of a lot and has helped me in the past. She is valuable and no one is like her. She can't be copied or replaced because she knows so much about the company because she started there right when the company started and has worked ever since.
7. This business idea can attract not only college students, but older people as well.
College students can tell their friends and families and spread the word. This is valuable because it can increase business. Having college students spread the word is something that they would do out of compassion.
8. There is not a club on UF's campus that promotes reusable products and sells them.
This club that I created is different and has a lot of potential. There is not one like it already. It is valuable because I am trying to get more people to not use plastic to better our planet. It can be inimitable if someone thinks of my idea and it cannot be substitutable because it is my idea.
9. I have experience in sales.
I have expertise in sales from working at a company that has trained me to be the best. I am not substitutable, even though someone else can learn the same skills because I altered the pitch to see what works best for me. I am not inimitable because even though someone can copy what I do, everyone's personality is different and that's what gets the results.
10. I have a lot of family and friends who are helping me.
Not everyone gets help from their family and I am grateful to have. No one can substitute family and they can't be copied.
My top resource is my experience in sales. I have been the top sales manager at my job and that definitely separates me from a lot of people. I have trained and hired people and taught them how to be successful. This would help me in my business when I need to hire and train people.
2. I have connections from work that will help me succeed.
This resource is valuable because my boss started his own company from the bottom and would help me. This resource is rare because there are not a lot of business owners like my boss. This resource is inimitable because no one is like my boss. This resource is non-substitutable because although there are some owners out there like him, my boss is not substitutable.
3. Reusable products are pretty new and selling them with college logos on college campuses will target my audience perfectly.
This resource is valuable because college students are my target audience and selling on college campuses will help me to succeed. This resource is rare because there isn't a club on campus that does this. This resource can be copied only if someone steals my idea.
4. I have experience working at a start-up company.
I have the experience needed to start my own business. Anyone can get this knowledge, but who you get the knowledge from is rare. Everyone's way of doing something is unique so making sure you get the knowledge from the best, will be the most beneficial.
5. My family would help me financially.
My family supports my decisions and would help me with my business plan. My family is not substitutable and they are rare.
6. I have connections with the Human Resources director at my work who would help me.
The Human Resources director could help me with any questions I have whether about social media or supplies. She is in charge of a lot and has helped me in the past. She is valuable and no one is like her. She can't be copied or replaced because she knows so much about the company because she started there right when the company started and has worked ever since.
7. This business idea can attract not only college students, but older people as well.
College students can tell their friends and families and spread the word. This is valuable because it can increase business. Having college students spread the word is something that they would do out of compassion.
8. There is not a club on UF's campus that promotes reusable products and sells them.
This club that I created is different and has a lot of potential. There is not one like it already. It is valuable because I am trying to get more people to not use plastic to better our planet. It can be inimitable if someone thinks of my idea and it cannot be substitutable because it is my idea.
9. I have experience in sales.
I have expertise in sales from working at a company that has trained me to be the best. I am not substitutable, even though someone else can learn the same skills because I altered the pitch to see what works best for me. I am not inimitable because even though someone can copy what I do, everyone's personality is different and that's what gets the results.
10. I have a lot of family and friends who are helping me.
Not everyone gets help from their family and I am grateful to have. No one can substitute family and they can't be copied.
My top resource is my experience in sales. I have been the top sales manager at my job and that definitely separates me from a lot of people. I have trained and hired people and taught them how to be successful. This would help me in my business when I need to hire and train people.
Friday, November 9, 2018
22A: Elevator Pitch No. 3
https://youtu.be/Oj9TTyEMDvQ
Overall, I received positive feedback. Most people said I did a great job with being confident and having my pitch memorized. Everyone said I changed what I needed to and that it really showed a difference. From the last pitch, I received some feedback about adding in more statistics about plastic use and alternatives to plastic.
Overall, I received positive feedback. Most people said I did a great job with being confident and having my pitch memorized. Everyone said I changed what I needed to and that it really showed a difference. From the last pitch, I received some feedback about adding in more statistics about plastic use and alternatives to plastic.
Based on the feedback, I continued to not use my arms and memorized my pitch. I also added in new statistics. I decided to be more enthusiastic as well because I seemed to be kind of bored. This has been a great practice experience and I enjoyed doing it.
21A: Reading Reflection No. 2
1. The second book I chose to read us called "The Art of Social Media," by Guy Kawasaki and Peg Fitzpatrick. The general theme of this book is to provide readers tips and tricks on how to use social media to benefit you or your business. Some of the topics discussed include customizing your profile, how to write posts, how to reply to comments, and how to get more followers.
2. This book connected with me and enhanced what I am learning in this class. In this class we are creating a business idea and some of us are executing it as well. This book provides great advice for how to use social media effectively to gain more followers. The key to gaining more followers according to Kawasaki, is sharing content. The more followers you have on social media, the more customers will come to your business.
3. If I had to design an exercise for this class, I would have students create a business profile on a social media platform of their choice for the business idea they are generating in this class.
4. My biggest surprise was when Kawasaki created a post on the new Audi A3 about some new feature and Audi dealers saw his post and reshared it and gained 500,000 views. Kawasaki said that resharing a post gains you more followers than not resharing it.
Friday, November 2, 2018
20A: Growing Your Social Capital
1. For my first interview, I talked to my boss. He knows how to market and sell products. He gave me great advice for selling products on college campuses. He told me that the key to selling is knowing your product and being indifferent when doing it. If you show indifference, the customer won't feel pressured to make a decision and will therefore buy the product if they "like it, like you, and think it's a good deal," according to my boss. My boss said he would even help me if I had any problems and questions about anything. He is a great guy and I am glad I got to tell him about my idea.
2. For my second interview, I talked to a person at a market who had their own business of getting the word out there to people about saving the Earth. This guy promotes his products at markets and sells reusable grocery bags that wrap up in a small ball and can be used for anything. He also had his company logo on them. I told him about my idea and he gave me some advice. He told me to not give up because there are always people who will tell you no. He explained his business model to me and how he started it and I believe it will benefit me if I do want to open up this business.
3. The third person I interviewed was my Human Resources director at my job. Katherine deals with inventory and supply for our products that we sell. I asked her who she gets the supplies from and if the company pays a percentage from the inventory that the company sells. She told me that they get the supplies directly from the vendors and they do have to pay them a percentage of the products that they sell. She gave me great advice on how to work with inventory and what to do if something is damaged. I learned a lot and will definitely use her advice.
Overall, I've had to network a lot for my job. I've called top business owners in the same business model to get advice from them. This networking experience was fun and I got some great advice for my business.
2. For my second interview, I talked to a person at a market who had their own business of getting the word out there to people about saving the Earth. This guy promotes his products at markets and sells reusable grocery bags that wrap up in a small ball and can be used for anything. He also had his company logo on them. I told him about my idea and he gave me some advice. He told me to not give up because there are always people who will tell you no. He explained his business model to me and how he started it and I believe it will benefit me if I do want to open up this business.
3. The third person I interviewed was my Human Resources director at my job. Katherine deals with inventory and supply for our products that we sell. I asked her who she gets the supplies from and if the company pays a percentage from the inventory that the company sells. She told me that they get the supplies directly from the vendors and they do have to pay them a percentage of the products that they sell. She gave me great advice on how to work with inventory and what to do if something is damaged. I learned a lot and will definitely use her advice.
Overall, I've had to network a lot for my job. I've called top business owners in the same business model to get advice from them. This networking experience was fun and I got some great advice for my business.
19A: Idea Napkin No. 2
1. You: I am a leader. I am the one who is in charge of group projects. I am also a leader at my company working in event marketing. I train and hire people based on my expertise in the field. I set the fastest record at my company to get promoted into leadership. My skills include time management, effective communication, and problem-solving. Specifically regarding my business concept, if I were to start it, it would play a huge role in my life. I really care about the environment and starting a club to raise awareness would be something I would enjoy doing.
2. What are you offering to customers?
I am offering to customers alternatives to plastic. Examples of alternatives to plastics include reusable water bottles, reusable shopping bags, metal straws, glass storage containers, and mason jars for to-go drinks. I am also offering alternatives to plastics such as reusable grocery bags with college logos on them.
3. Who are you offering it to?
I am offering alternatives to plastic to college students, mainly women. These women are between the ages of 18 and 25 and have middle income with discretionary income left to splurge on things they like. This is a typical college girl who cares about the environment and wants to make a difference in this world. This typical customer likes to shop, hang out with friends, go to the beach, and surf. I will be going around to restaurants to spread the word and get restaurants to buy metal straws from me to sell at their restaurant.
4. Why do they care?
People care about saving the environment. There are so many ways people can help and I feel like especially on college campuses people will care more because of greed factor. Greed factor is when someone sees someone else with a product that they think is cool and want it too. If one college student buys a water bottle with a college logo on it, people will want to buy that product too.
5. What are your core competencies?
My core competencies include my skills of running a business from my job experience. I understand what needs to be done in order to be successful. I also believe there is not a business out there like mine. Having reusable products with college logos on them is unique.
I did not receive any feedback regarding changing anything. The feedback I received was all positive regarding my experiences. I decided to change who I am offering to. After I created my avatar I was able to zone in one who my typical customer is. I also went into more detail on specific skills that I have.
2. What are you offering to customers?
I am offering to customers alternatives to plastic. Examples of alternatives to plastics include reusable water bottles, reusable shopping bags, metal straws, glass storage containers, and mason jars for to-go drinks. I am also offering alternatives to plastics such as reusable grocery bags with college logos on them.
3. Who are you offering it to?
I am offering alternatives to plastic to college students, mainly women. These women are between the ages of 18 and 25 and have middle income with discretionary income left to splurge on things they like. This is a typical college girl who cares about the environment and wants to make a difference in this world. This typical customer likes to shop, hang out with friends, go to the beach, and surf. I will be going around to restaurants to spread the word and get restaurants to buy metal straws from me to sell at their restaurant.
4. Why do they care?
People care about saving the environment. There are so many ways people can help and I feel like especially on college campuses people will care more because of greed factor. Greed factor is when someone sees someone else with a product that they think is cool and want it too. If one college student buys a water bottle with a college logo on it, people will want to buy that product too.
5. What are your core competencies?
My core competencies include my skills of running a business from my job experience. I understand what needs to be done in order to be successful. I also believe there is not a business out there like mine. Having reusable products with college logos on them is unique.
I did not receive any feedback regarding changing anything. The feedback I received was all positive regarding my experiences. I decided to change who I am offering to. After I created my avatar I was able to zone in one who my typical customer is. I also went into more detail on specific skills that I have.
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