30A – Final Reflection

1) The most formative experience is when we first had to come up with an idea and opportunity. Getting feedback on something you created is humbling. My most joyous experience was creating a whole brand for my idea. I am most proud of my venture concept as it has all the information that I worked on throughout the semester.

2) I do see myself more as an entrepreneur more than I did at the beginning of this semester but I think I still need to learn more before calling myself an entrepreneur.

3) My recommendation for students taking this course is to take it as seriously as possible. There are some students that did not take it as seriously as I did and that affected how they saw each assignment. You need to take them seriously to learn from each assignment.

29A – Venture Concept No. 2

1)

Multilingualism is a key component in childhood development, social skills, and in finding future jobs. The learning of a second language is lacking in US education. Only 58 percent of middle schools and 25 percent of elementary schools offer a foreign language. There is a rise of businesses and jobs in the United States that require applicants to speak more than one language, and sometimes more than just two. The demand for bilingual workers has doubled in the past five years. Bilingual children outperform children who only speak one language in problem-solving skills, critical thinking, multitasking, and they have a stronger ability to focus.

I interviewed five different people who were a student who grew up in another country, a student who only speaks English, a director of a preschool, a parent who raises a bilingual child, and the director of Baby Gator. These five interviews taught me that being bilingual while finding a job anywhere in the world is very important. It can help with critical thinking, decision making, and increases reading comprehension. Having multilingualism lack in US education is not giving us the best shot at becoming successful. One of the students pointed out that they applied for a job and did not receive it due to the fact that he did not speak a second language. The directors of the preschools said that people take in the most information from the ages 2-6 so it is important to start teaching them a second language young. This is why I see the opportunity as important and general for many people.

I want to develop a learning language tool that aids children and students in developing multiple languages while having them interact and play with the product. It is essential to start teaching a majority of the kids in the US more languages early on in life. Shaped like a hexagon with a wider base, the beginning level will show images on the top, and there will be corresponding buttons on the sides. There will be different levels of the game where it gets harder as you learn more. For example, it might show a picture of an animal as well as say the name of that animal in your native language. You would then need to press the button that correlates to that screen. As it focuses on child learning first, it will then start upgrading to full sentences and grammar. It would connect to an app that tracks your learning process as well as change the language you want to use and learn. It will switch on and off from the native language and the language you are trying to learn. The levels will also be able to increase to phrases, full sentences, and even grammar. By having this product be audio, visual, and physical, it better engages the user then more common methods like an app or flashcards. Only 20 percent of kids in the US are bilingual. Let’s be the change to change this statistic.

Many language learning tools are app-based and are not fun to do. This product makes it a game for kids while teaching them different languages. Customers would switch to this product so they could play games and learn a language at the same time. The competitors are companies like Rosetta Stone or other apps that teach language. I can advertise this as something that isn't just audio and visual but something that is physical. By it being physical it enforces memory retention better than apps or online products. I believe my top resource is the uniqueness of my product. My product differs from every other product in my market and therefore has no similar competition. This is very important to the success of my venture as it sets my product apart because it has a physical and online presence. I want to create different games that virtually do the same thing but with a different process. I also want to find games that can cater to an older audience. I want this product to be sold in places like Target and Walmart but also online on websites like Amazon.

2)

The feedback I received was very positive and supportive of my product. Everyone said that my product was a great idea and that language is a very important part of everyday life. I did receive one criticism of how I intend to advertise my product differently then other language products.

3)

I did not change anything I just added some information. I added information on how I would advertise my product to show how my product is better than other products that are similar to mine.

28A – Your Exit Strategy

1) I intend to stay with my business for several decades and then either sell my business or if my children would like to have it then I will pass it down.

2) I selected this because my first thought it pass it down to family because family is everything to me but I also want to give my children a choice in what they want. So if they don't want to be in this industry then I will sell it to someone who does.

3) My exit strategy has not influenced the other decisions in my concept. My exit strategy is based on future events so it could have no effect on my current plan for my business.

26A – Celebrating Failure

1) This past semester I have been getting ready to study abroad in the coming fall. I failed to submit a few scholarship applications on the deadline which can now affect my finances and how much I need to save to go to Spain. I failed at this a few times as I was busy with school and did not have the time to fill out these applications.

2) I learned that I have to prioritize my school work and try and manage my time better. 

3) Failure is important in the steps to learning. If you don't ever fail then you lose the opportunity to succeed and learn from your mistakes. Failures help you grow. I have always had this perspective that failure is important in succeeding in life. This class has just confirmed my perspective and elaborated on it.

27A – Reading Reflection No. 3

Cognitive Surplus, Clay Shirky

1) The general theme of this book is talking about the idea of what we would be doing during the time we all watch TV. The "cognitive surplus" is the free time of people that are giving up TV for more online platforms.

2) This connects with our class because TV and online platforms are taking over the time of everyone around the world. Also, the internet and social media are always changing and we as entrepreneurs have to be ready for these changes with online platforms. 

3) It would be to create a social media advertisement that can be used universally on all platforms and maybe even TV.

4)The biggest surprise was that he made it out to seem that everyone and everything on the internet was positive and had a great purpose. In my opinion, the internet is a place of good and evil depending on the subject.

25A – What’s Next?

I want to create different games that virtually do the same thing but with a different process. I also want to find games that can cater to an older audience. When establishing this new product, I think it will attract more people and give other options for how they want to learn.  So, I want this product to be sold in places like Target and Walmart but also online on websites like Amazon. This will help reach a wider amount of people as people can see it in person but buy it online if necessary.

My radically different market is adults that want to learn a language. This is different because my product is designed for children because of the easy game and colors. If I were to make one that suited an older audience, it would be a simple game or one that interested them. I can speak to this as I am an adult and want to see different ways to learn a language. A way I can do this is through card games or games that challenge the mind in a more difficult way than with the children.

This new market does not seem as attractive because people learn languages easiest as children because their brains soak up the most information at s younger age. So, the younger they are when learning a new language, the faster and easier it is. The ideal market is children and parents so more people can learn at a faster rate.

I learned that this new market can be tricky to get because there aren’t as many adults wanting to learn a new language as there are parents and children trying to learn new languages. My expectations and assumptions were correct because children’s minds are at a rate where learning a new language is easier for them than adults.

24A – Venture Concept No. 1

Multilingualism is a key component in childhood development, social skills, and in finding future jobs. The learning of a second language is lacking in US education. Only 58 percent of middle schools and 25 percent of elementary schools offer a foreign language. There is a rise of businesses and jobs in the United States that require applicants to speak more than one language, and sometimes more than just two. The demand for bilingual workers has doubled in the past five years. Bilingual children outperform children who only speak one language in problem-solving skills, critical thinking, multitasking, and they have a stronger ability to focus.

I interviewed five different people who were a student who grew up in another country, a student who only speaks English, a director of a preschool, a parent who raises a bilingual child, and the director of Baby Gator. These five interviews taught me that being bilingual while finding a job anywhere in the world is very important. It can help with critical thinking, decision making, and increases reading comprehension. Having multilingualism lack in US education is not giving us the best shot at becoming successful. One of the students pointed out that they applied for a job and did not receive it due to the fact that he did not speak a second language. The directors of the preschools said that people take in the most information from the ages 2-6 so it is important to start teaching them a second language young. This is why I see the opportunity as important and general for many people.

I want to develop a learning language tool that aids children and students in developing multiple languages while having them interact and play with the product. It is very important to start teaching a majority of the kids in the US more languages early on in life. Shaped like a hexagon with a wider base, the beginning level will show images on the top and there will be corresponding buttons on the sides. There will be different levels of the game where it gets harder as you learn more. For example, it might show a picture of an animal as well as say the name of that animal in your native language. You would then need to press the button that correlates to that screen. As it focuses on child learning first, it will then start upgrading to full sentences and grammar. It would connect to an app that tracks your learning process as well as change the language you want to use and learn. It will switch on and off from the native language and the language you are trying to learn. The levels will also be able to increase to phrases, full sentences, and even grammar. By having this product be audio, visual, and physical it better engages the user then more common methods like an app or flashcards. Only 20 percent of kids in the US are bilingual. Let’s be the change to change this statistic.

Many language learning tools are app-based and are not fun to do. This product makes it a game for kids while teaching them different languages. Customers would switch to this product so they could play games and learn a language at the same time. The competitors are companies like Rosetta Stone or other apps that teach language. I believe my top resource is the uniqueness of my product. My product differs from every other product in my market and therefore has no similar competition. This is very important to the success of my venture as it sets my product apart because it has a physical and online presence. I want to create different games that virtually do the same thing but with a different process. I also want to find games that can cater to an older audience. I want this product to be sold in places like Target and Walmart but also online on websites like Amazon.

23A – Your Venture’s Unfair Advantage

1.  Connections/Network

a. Valuable: yes, this resource is valuable because anyone with connections will be able to find help easily.

b. Rare: yes, this resource is rare because everyone knows different people in our lives.

c. Imitable: no, this resource is not inimitable because you cannot expect to receive the same type of treatment from a stranger
as you would a long-time friend. 

d. Non-substitutable: no, this resource is not very substitutable; you either have a connection to these people or you don’t.

2. Funding

a. Valuable: This is very valuable to start and sustain a company

b. Rare: not really, all companies have to be funded

c. Imitable: funding is not something that can be copied

d. Non-substitutable: this is absolutely necessary to create and sustain a company

3. Market research

a. Valuable: This is very valuable in knowing if an opportunity is viable and worth pursuing

b. Rare: yes, not all start-ups conduct research before starting their company

c. Imitable: this can only be imitated by companies in the same market

d. Non-substitutable: no, this research can not be substituted as it is unique to my market

4. A unique product with little competition

a. Valuable: yes, it is very valuable to have a product with little competition

b. Rare: yes, it is rare to have a product that is unique in its market

c. Imitable: it would be fairly easy for another organizational platform to mimic the services I offer to my customers

d. Non-substitutable: no, this is necessary to succeed

5. Flexibility for users

a. Valuable: yes, this makes my product useful to different customer segments

b. Rare: somewhat, most products have some flexibility in user capabilities but not all do

c. Imitable: yes, other products can copy my features and make their products flexible as well

d. Non-substitutable: I could make my product less flexible but this would make my product less attractive in the marketplace

6. Passion

a. Valuable: yes, this is very valuable in making sure my company continues even through obstacles

b. Rare: yes, I think it is fairly rare for a company to be extremely passionate about its customers rather than making a profit

c. Imitable: no, it is difficult/nearly impossible to imitate passion

d. Non-substitutable: no, passion cannot be substituted

7. Customer loyalty

a. Valuable: yes, having a loyal customer base is very helpful

b. Rare: yes, it is fairly rare to have customers that are loyal to your product over other competitors

c. Imitable: no, as customers can only be loyal to one product in a market

d. Non-substitutable: no, there is no substitute for customer loyalty

8. Experience

a. Valuable: yes, this resource is valuable because everyone has their own unique experiences. 

b. Rare: no, this resource is rare because not everyone possesses it.

c. Imitable: no, this resource is not imitable. One either has experience or doesn’t. 

d. Non-substitutable: yes, this resource may be substitutable because one might be able to learn something without having
experience. 

9. Reliability

a. Valuable: yes, this resource is valuable because if you are not reliable then people would not want to work with
you.

b. Rare: yes and no, this resource is and is not rare. Many people are reliable; however, reliability needs to be established
amongst individuals.

c. Imitable: no, this resource is not imitable. You cannot apply something else to a situation that is requiring someone
reliable. 

d. Non-substitutable: no, this resource is not substitutable. You cannot substitute something for reliability.

10. Technology
a. Valuable: very valuable in creating the application
b. Rare: not rare, but a good resource to have for my company
c. Imitable: technology is universal, so any company can use this technology
d. Non-substitutable: technology is absolutely necessary for my product

Top resource: I believe my top resource is the uniqueness of my product. My product differs from every other product in my market and therefore has no similar competition. This is very important to the success of my venture as it sets my product apart because it has a physical and online presence.

21A – Reading Reflection No. 2

1) What was the general theme or argument of the book?

The general theme of this book is giving tips on how to treat your social media presence as a business and how to get your business the attention it deserves.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

This book connected with what I'm learning because it helps navigate you through what your social media needs in order to properly promote your business or brand. As we are learning and creating our own product or service, knowing and learning this information on how to advertise your business on social media is helpful in getting a business off the ground.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

Create a social media page based on our product using at least 3 tips listed in the book.

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

The author talked about how you want to post content that your followers want to see and not what you want to create. I found this surprising as I was always taught to do what I love and not care about what others want or think. I was taught to live on my own passion and no one else's so seeing that he suggests posting what people want over your own wants is strange.

22A – Elevator Pitch No. 3

The feedback I received from the last pitch was very positive. I found this surprising as I felt as if I needed to work on my confidence more. The only advice I got was for it to be closer to 90 seconds.

I did not change the contents of my pitch much. I just added a few words to make it sound better and tried to memorize it more as I went. I also tried to be more confident but feel as if that I still need to work on the part of my pitch.