16A –What’s Your Secret Sauce?

5 ways that I have human capital:

Determination- When I have a goal, I do not stop until I complete my goal.

Dependable- If someone needs help with something I will have their back and they are reassured because they know I am there for them.

Empathetic- I understand that everyone is going through something different that others may not know about. I make sure to look at things from their perspective.

Respectful- I treat other people with respect even if they do not treat me with respect.

Humorous- I like to have fun and I try to make situations better with a little humor.

https://soundcloud.com/k1fo6zj5vft6/interview-with

In this clip I interviewed my boyfriend and he talked about how I am dedicated to things I am committed to.

https://soundcloud.com/k1fo6zj5vft6/recording-38

In this clip I interviewed my cousin and he talked about how I stand up for what I believe in.

https://soundcloud.com/k1fo6zj5vft6/interview-brother1

In this clip I interviewed my brother and he talked about how I am always down for adventure.

https://soundcloud.com/k1fo6zj5vft6/recording-42

In this clip I interviewed my sister and she talked about how I can make a bad situation into a good one.

https://soundcloud.com/k1fo6zj5vft6/recording-44

In this clip I interviewed my friend and he talked about how I am very helpful.

For the most part, I think I see myself the way others see me. There are some things about myself that I may look at in a negative way, but that’s normal for me to be harder on myself than others are. I think the list I gave pretty much matches the descriptions that the interviewees gave me.

15A – Figuring Out Buyer Behavior No. 2

15A – Figuring Out Buyer Behavior No. 2

After conducting three more interviews, I have found out more information about buyer behavior. Two out of three of the people said that price was more important to them than quality. The other said that they looked for the quality, so they know they are getting their money’s worth. All of the responses were connected to each other because overall, they just want to use a product that is a reasonable price and that is useful.
 

My product would be a B2B purchase, as businesses would buy my product to put in bathrooms for people to use. There would be many people involved in the purchase as it would have to pass certain regulations and then get patented. The process would be very long before the product becomes official all over. What makes the product a good idea is if people actually put their phone in the holder in the restroom. If it is not used it would be a waste of space.

After completing all the interviews, I was able to gain insight into the customer’s buying decision process. The customers use alternative evaluation to decide if they would actually use the product. There are sometimes other shelves in restrooms that can be used to put your phone on. If someone is more inclined to dropping their phone they are more likely to want to use the product. The interviewees said they were all likely to use the product.

14A - Halfway Reflection

For this course I make sure I do not wait until the last minute to complete assignments. It will seem like a lot, but if you spread out the work it is not bad at all. I make sure I complete part B of assignments right after part A so I do not forget.

Right after Memorial Day weekend was a time when I felt like giving up. I just had my 21^st birthday and everyone was asking what I was doing with my life. Having just turned 21, I felt like I have not accomplished things I should have by now. I also was trying to keep up with my summer classes while studying for the LSAT. The workload plus working six days a week made it hard to stay motivated. But, I looked to my friends and family who are always there to support me.

Three tips for this class:

1.      Get ahead when you can. If you know you are going to be busy or just want a free weekend, do the assignments early.

2.      You get out what you put into this class. Put some effort into this class so you can benefit from this class.

3.      After you complete an assignment make sure to submit the assignment right away, so you do not forget.

 

 

13A - Reading Reflection No. 1

The Wright Brothers, David McCullough

1. You read about an entrepreneur:

· What surprised you the most?

What surprised me the most from the Wright Brothers story is how long it took them to finally get their airplane to fly. It was a ten year quest before they were successful.

· What about the entrepreneur did you most admire?

I admire that even though Wilbur was in an accident he was able to find something to do and he ended up benefiting from having nothing to do.

· What about the entrepreneur did you least admire?

I did not really find something that I did not admire about the brothers. But, it seems like they spent most of their time working on creating a plane, I do not know how much time they spent with friends and family.

· Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

The Wright Brothers experienced lots of adversity and failures. Their adversities at times were what helped that become successful. When they encountered a failure they just kept pursuing their ideas. The Wright Brothers were very smart and persistent.

2.     What competencies did you notice that the entrepreneur exhibited? 

I noticed that they were able to adapt to different factors and never give up. They were able to use ideas and build off of them. They were able to complement each other and work successfully as a team.

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

It was confusing to me how the Wright Brothers were able to learn about flying from observing birds.

4.     If you were able to ask two questions to the entrepreneur, what would you ask? Why?

I would ask if they think they would have been able to come create a plane without having each other? I think it would be interesting to know if they would have created something else or nothing at all if they worked separately. I would also ask if they had any other ideas they wanted to pursue but were unsuccessful at.

5.      For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion? I think the Wright Brother’s opinion of hard work was not giving up no matter what obstacle they faced. For how long they pursued their idea, there were probably many times they wanted to give up but they did not. I would agree with their opinion.

12A – Figuring Out Buyer Behavior No. 1

   The segment  is females ages 20-30.

     After interviewing three people that fit my segment, I was able to get helpful information. The people were able to tell me when their need becomes more prevalent. When these people use a public restroom, a single restroom is where their need becomes more common. A public place with one restroom is more unsanitary then a place with multiple stalls. Places that have one restroom are larger and typically do not have anywhere they can put their phone. A hook is less likely to be on the door when they use a restroom in a place such as a gas station. When stopping at a gas station people are more likely to be in a hurry so a dropped cell phone can easily occur.

     When people look for information on this product, there is not always an alternative they can search for. They can search for a bag or a purse but this is something they do not always have on them when using the restroom. This segment did a good job of describing the need awareness. The people I interviewed were able to talk about different times and circumstances when the need occurs.

11A - Idea Napkin No. 1

1. You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

I am hardworking, self-motivated, and open minded. I am able to come up with ideas when I am put on the spot in certain situations. With my business idea I would be able to get my idea in a number of different locations.

2. What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

I am offering a secure place for cell phones while in public restrooms.

3. Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

The customers that the product would be for is females and males who wear shorts without pockets. All of my customers wear clothing without pockets or pockets that are not big enough for a phone.

4. Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

My product will be paid for because it is a basic need that could be solved with a few steps. My product is not changing the way things are, it is just adding something.

5. What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

Something that sets me apart from others is my self-motivation. I go out and do things without being told and without expecting something in return.

I believe that the elements fit together for the most part. In any business, a good work ethic will go a long way. If I try to put a prototype in locations and they fail, I can keep moving forward by adapting to feedback and making changes. I think that I could improve on networking. If I am not good at networking, it is hard for my idea to get out there to more people.

10A - Elevator Pitch No. 1

9A - Testing The Hypothesis, Part 2

Who: Even though there are people who would use the product, there are some people who would not. People who do not use public restrooms that often would not be inclined to using the product. If they do not use public restrooms, they would not even be exposed to the product. Some men might also be skeptical of the product because they would not use it. Men’s clothing tends to have more pockets than women’s clothing so therefore they already have a place to keep their phone.

What: The need would be to keep your phone clean and safe. Some people may not care about the need since it has not previously affected them. As long as people have found a place to put the phone in the bathroom, there is no issue.

Why: The outsiders do not necessarily have the need because they have an alternative solution to the problem. There also are people who do not use public restrooms often so they feel the need is not necessarily important. People inside the boundary experience this need more often and feel as though there could be a solution.

Inside the Boundary	Outside the Boundary
Who is in:        Public restroom users         Females          People who own cell phones	Who is not:       People who do not use public restrooms        Some males         People who do not own a cell phone
What the need is:         More safety for phones         Sanitation        A place for phones to be in a restroom	What the need is not:         A place for phones outside a restroom        A guarantee for a safe phone        A guarantee for a clean phone
Why the need exists:         Cell phones have become more popular         Previously dropped their phone in the restroom         People now realize the problem	Alternative explanations:         People do not bring their phone in the restroom         Unaware of the need         Never had an issue before         Shelves in some bathrooms

8A - Solving The Problem

The problem I have identified is the idea that there is nowhere to put your phone while using a public restroom. The problem has led to broken phones, cracked phone screens, and even phones that end up in the toilet.

The solution I have come up with is the pocket phone holder. This phone holder would allow people to have a place to put their phone in the stall that is clean and safe. I would have to test out a prototype in a variety of different locations. The holder would also have wipes attached to it so people can wipe off the container before or after they put their phone in it. This product would allow people to not have to worry about where to put their belongings while in the restroom. This product would be useful every time someone uses a public restroom. The goal would be that people would want this product to be put in all restrooms.