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Venture Concept No.2

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Opportunity:  There is an opportunity for a massively untapped market. In a day and age where appearance is everything, especially to the younger generations, how people dress has grown increasingly important. Many people avoid certain styles because major companies only cater to certain body types. Social media plays a large role in this. Where style and fashion are changing at such a rapid pace that by the time you find that perfect fit, its no longer in style. The fashion industry is enormous but hardly anyone is trying to make customization easily accessible or affordable. This market is largely targeted toward the younger generation. Older generations are not so concerned with their looks 24/7. Potential customers are currently satisfying this need by shopping with the same name brands they feel comfortable with. They are afraid to branch out because it would take time to figure out how other companies size and fits work for them. Potential customers are also wearing the sa...

Final Reflection

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My most My most memorable and formative experience was interviewing people. I never realized how much you can learn about something just by talking to people. Also, people are typically more than willing to discuss ideas and spread knowledge.  My most joyous experience would be creating my customer avatar. I really felt like I understood who I was targeting. Visually creating a person and personality helped me see how I can focus and expand my target customer audience.  I am most proud of conducting interviews. Typically, I am a fairly shy person. The interviews got me out of my comfort zone but I was only met with positive reactions and willingness from the people I talked to.  I believe I have moved closer to an entrepreneur mindset. Before this class, I have been told many times that failure is an opportunity to learn. Until recently I have not known how to put that into practice. Also, I am able to identify opportunities with much bette...

Reading Reflection No.3

“How to Fail at Almost Everything and Still Win Big” by Scott Adams 1) The general theme of this book is that failure helps guide you in different directions. It pushed you towards bigger and better things and should not cause you to give up. Instead, it should be seen as an opportunity.  2) The book in my, opinion, connects with a lot of the topics we have talked about in this class. Many of the assignments are geared towards helping you accept failure as a learning tool rather than discouraging.  3) If I were to create an exercise for this class I would have people seek rejection or failure. I would have students write about their failure and how it made them feel. I would also have them talk about what they learned from their failure and what they plan to change in the future.  4) I found his view on goals interesting. He views goals as problematic and oppressing. Personally, I think goals are helpful to point you in a general direction but can see how...

Your Exit Strategy

For my exit strategy, I plan to be apart of the company into my 50s. However, after it becomes profitable enough I will delegate others to take over major parts of the company. This will allow me to pursue other ventures which, I definitely plan on doing. Eventually, I will sell the company or pass down the parts I have to my children if they are interested.  I chose this strategy so that I may pursue other interests in my lifetime. Not all of my future accomplishments are centered around bringing in a profit. Many of my interests have nothing to with earning any sort of income.  My exit strategy has influenced my decisions with my concept so that I can build it quickly, set it afloat, and designate a captain. This is not something I see my self being apart of forever. I would keep my foot in the door mainly for my children if they ever decide they want to be apart of it. I plan to grow the company quickly and get to a stable point where others can take over and continue to he...

Celebrating Failure

This past semester, I have failed in many ways but the one that hit me the hardest had to do with my personal relationships. I had become blind to the fact that I was not coping with the stress of college and supporting my self. With everything feeling like it was crashing down on me, I became depressed. Instead of realizing that I was no longer happy with my self, I began to look for it in my relationships. First with friends and then with my significant other. I kept asking for more and more from them and the pressure grew to be too much. It wasn’t until they broke and told me in the heat of the moment that I had not been listening to anything they had been saying which was true. Many of the things they tried to display to me while I was asking for more did not seem important because I felt so hurt at the time but couldn’t understand why.  What I learned from this is that I need to pay attention to my perception of my self. Also, I need to listen to my significant other and reall...

Venture Concept No.1

(1) opportunity: There is an opportunity for a massively untapped market. In a day and age where appearance is everything, especially to the younger generations, how people dress has grown increasingly important. Many people avoid certain styles because major companies only cater to certain body types. Social media plays a large role in this. Where style and fashion are changing at such a rapid pace that by the time you find that perfect fit, its no longer in style. The fashion industry is enormous but hardly anyone is trying to make customization easily accessible or affordable. This market is largely targeted toward the younger generation. Older generations are not so concerned with their looks 24/7. Potential customers are currently satisfying this need by shopping with the same name brands they feel comfortable with. They are afraid to branch out because it would take time to figure out how other companies size and fits work for them. Potential customers are also wearing the same...

What's Next?

Two of the three people I interviewed said relatively the same thing. Both agreed my business venture was a good idea and neither had ever heard of anything like it. As far as logistics go they saw no reason for it not to be possible. The third person also thought it was a good idea however, did not think going with the United States Postal service was the right option. Instead, he made the suggestion of having my own people deliver and possibly even come to take measurements. Almost like a traveling tailor. With this idea in mind, the only way I could see this working resource-wise is by starting very small and basing my self in a single town with a store to work out of. My market would change and but would still be able to use an app.  A radically different market that I could pursue would be businessmen and women. Most of these people, however, have their suits and clothing custom-tailored by the companies that make them. However, if I were to employ this house call suggestion ...