Principles of Entrepreneurship JTP

1) You read about an entrepreneur: ·   What surprised you the most? I knew that Musk was the owner of Tesla and SpaceX, but I no idea that he began with other, very different ideas, such as Zip2 and PayPal. ·    What about the entrepreneur did you most admire? I really admire that time and money that Musk puts into creating green projects like Tesla, the Hyperloop, and Solarcity. It would be easy for him to make a higher profit on projects that need less of an investment, but he has a vision for the future and the betterment of humanity that I find really fascinating. ·    What about the entrepreneur did you least admire? While not addressed in the book, there are accusations surrounding Musk right now that he supports slave labor in the Democratic Republic of Congo. This is very disappointing since in the beginning he said he left South Africa to avoid military service and propping up the apartheid regime, and yet he allows for this injustice when he ...

1) Pick a segment. In class, we have discussed how you might intuit the existence of segments that might exist in your venture's market. For this exercise, you must pick one segment. Demographic: Individuals at college or in large cities where roommates are needed to pay the rent. Specifically, those with small apartments where other individuals could hear the microwave. 2) Find three people who would fit that segment and arrange to interview them. These interviews, if conducted properly, should take about 10-15 minutes. Any less, and you won't be able to obtain adequate information. I interviewed Hannah Llende, Tyler Grant, and Sydney Shaffer. 3) Begin with need awareness. In earlier exercises, you have identified an unmet need and developed a solution. If the person you are talking to does not have the same unmet, then you need to move on. You may not include this as one of your three interviews. If the person you are talking to does have the problem, then you're ...

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 a political science and history major with strong interpersonal and intra-personal skills. I am able to see my flaws and improve upon them as well as connect easily with other people. I hope to work in foreign affairs either by conducting research or lobbying governments. My business would have no effect whatsoever on my life. If anything, I would patent my idea and sell it to the highest bidder. 2)  What are you offering to customers?  Describe the product or service (in other words, how you'll solve customers' unmet needs).  Microwaves are unnecessarily loud, either annoying the owner or distributing their roommates. A microwave with silent capabilities would add to the comfort and peace of users. 3)...

Izabella Smith would like to have a silent microwave but she would not define it as a need. While loud noises don’t bother her, she would like to be able to make food in the morning and evening without waking her roommates up. Chirsten Zubka said she does not need or want a silent microwave because she already has a microwave. In fact, she likes the noise that lets her know when her food is done. Emily Garcia does not find the loud noise made by microwave bothersome. She does however have roommates that make noise with microwaves while she is trying to sleep. For this reason alone, she would get a silent microwave, or at least make her roommate get one. Riley Harwood already has a microwave and has no need for a new one. Her roommates room is far enough away that noises in the kitchen do not bother her. She might consider it more if she was in the market for a microwave. Na-Young Shin finds microwaves overly loud and worrisome. If she is trying to make food and get re...

1.      Interviewing Brynn Price who has Netflix, Disney+, Hulu and cable. He would ABSOLUTELY want a package deal especially for $20. He at least wants a lower cost than all of them combined. The cable comes with his apartment right now. He uses these streaming services daily and does not pay for them all right now but will need to in the future. 2.      Interviewing Kristie Surdacki who has Netflix and Hulu. She would love to have more streaming services right now but is limited due to being a college student. Right now, she uses her mom’s but she is dying to watch Disney+ and its new shows. Likewise, she would also like to ideally spend $20 but would be willing to pay up to $30 if it came with enough services. 3.      Interviewing Elena Monahin who has Netflix and Hulu. She would want a package deal. She would like to pay $20. She uses her certain ones once a day. She would like the package to include Disney+ specifica...