Ashley's Blog

ENT 3003: Venture Concept Write-Up Guide Ashley Teichmann In my venture start up, I created a compost bucket. I decided to make a product like this because this is something   I’ve always wanted to make for myself and I figured this would be a great opportunity to teach others how to compost.   Opportunity. Billions of dollars in food go to waste in the United States each year. We spend so much money on fertilizers to grow food, when it just goes to waste. This is a need for mostly everyone. Everyone may not know they need a compost bucket, but if you are someone that cooks at home, owns a business or restaurant, this is a perfect way to help yourself, and the environment. ·       What are the forces or changes in the environment creating this opportunity? -Global warming is impacted by the fertilizers we use and the food we send to landfills. ·       How is this market defined ge...

After reading all the posts on my blog from this past semester, I realized how much my posts improved. Although I enjoyed the assignments we have done throughout the class, the thing that stood out to me the most was our entrepreneurship workshop. I found this workshop to be very interactive and I enjoyed that I had to go out and sell my product that I am actually still using ever since the first workshop. This is an experience I will remember years later because it was something that also benefitted me.  I was proud of myself for making this product and being able to sell it to many people/businesses. After creating my product and making sales pitches, I believe I can see myself as an entrepreneur and I definitely moved closer to developing an entrepreneur mindset. I would recommend students to pick something that they are passionate about for their product they want to talk about during the entire course. This is very important to the course. This is a picture of my entrepreneu...

For my exit strategy, I would plan to play it by hear with my business. I would probably intend to stay with the business for several decades and retire and then eventually pass it down to children. A business that stays within the family seems like something that would be interesting. I have selected this particular exit strategy because if I started a business I would like to see it grow in the long run and be able to watch it from start to finish. I think my exit strategy has influence the other decisions I've made in my concept because I've made sure to make valuable decisions and shaped my company to be something that could be able to last. I have identified the opportunity in this area and identified my market. I would like to see the growth in the concept and be able to see the venture thrive.

For this reading reflection I chose to read  The Art of Social Media: Power Tips for Power Users by Guy Kawasaki. Guy Kawasaki is someone who I have been following on social media ever since my start of college. I enjoy his input on social media, so I was excited to read this book. The general theme of this book was to teach those how to get the most for your money, time, and effort. This book offered over a hundred tips and insights on how to have a presence on the most popular social media platforms. This connected with our course because when started your own venture/business it is important to have a strong social media presence to make people aware of your company. If I had to create an exercise for this class based on the book I read I would definitely create an assignment that would make students create a Twitter or Instagram for their business and have a few posts to show how you would create your brand. My biggest 'aha' moment while reading this book was the many choi...

When thinking about this past semester and the times that I have failed, one specific thought comes to mind. In one of my business classes, we have two exams and various other assignments in the course. When taking our first exam, I didn't realize how much studying I should of done. Unfortunately, I did not do very well on the exam because I wasn't fully prepared for it. I should of taken more time to study and organized a schedule for studying so I was completely prepared for the exam. I learned to better prepare myself for exams and set aside plenty of time to study for each exam I have.  I think failure is hard to accept, but once you make a mistake, you can learn from it and continue to move forward. When handling failure I accept the fact that I can move on from it and it was something in the moment. I think this class has changed my perspective on failure because I am more likely to take more of a risk now than I was a few months ago.

What makes you so special?  1.      Advanced technology for live street monitoring 2.      $100,000 Free Cash Flows 3.      12 Employees 4.      High Growth Potential 5.      Established concept that can be implemented in many cities 6.      Strong relationships with local government subsidiaries 7.      Well known and respected brand 8.      Bartering power with cities 9.      Minimal competition 10.   Broad markets and growth potential VRIN ANALYSIS 1.      This is valuable because this is something that would be incredibly helpful to others. It is not necessarily a rare system, but an app would be rare. It would be difficult imitate. The organization is not necessarily organized around. 2.      Yes, this is valuable....