Week 15 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The biggest surprise for me in the reading was definitely the talk about international business and the corporate world within it. I am surprised that the author has talked about it this early and find it to stand out from anything else. I find it also very interesting to learn about this topic.

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

One part of the reading that was confusing to me were the paragraphs about business owners and how they set their meetings and other social situations up. I didn't understand most of it, but found some of it to be interesting.

3) If you were able to ask two questions to the author, what would you ask? Why?

If I were able to ask two questions to the author I would ask, "If you were to own a business and had to travel internationally, where would you set up your business meetings? Along with "Why would you set up these business meetings specifically in that place, for business or for personal reasons?"

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

There was nothing specifically I thought the author was wrong about, and did not disagree with anything he said. I found his comments and statements to be interesting. 

Final Reflection

1) Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

- Looking through my blog this semester, I was impressed at how many posts had added up and really intrigued me that i wrote so many. I got so much more done this semester than I would've ever expected.

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

- What sticks out the most and what I will remember most is interviewing entrepreneurs and really finding out what it is like to be one. I also got so much joy and pleasure when interviewing my customers because hearing feedback on the product I was selling was a very cool experience. The experience I am most proud about would be creating a business called SurfsUp. 

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

- Yes, I definitely see myself as an entrepreneur more now than ever. I developed this mindset by creating my own business and interviewing customers, while making different strategies on how I will set myself up to become the best entrepreneur out there while also being succeeding. 

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

- One recommendation I would make to students who are going to journey down this path in the future would be to complete every post, because every post helps you one step further on becoming an entrepreneur. I would also say that make time for you to complete your assignments so you could perform best in this class. I would recommend they turn their mindset into one that is well organized and completes all things within this class.

Venture Contract No. 2

My concept for the class include customer retention, customer acquisition, product innovations, new merchandising strategies, pricing and promotional strategies, new sales channels and distribution strategies, changing consumer/customer dynamics, technological advancements, entering into new markets, and lastly, mergers and acquisitions. These are the different ways this company makes its money. 

The kind of product offering I believe should be next will be a surf bard with an installed waterproof radio. This is the next biggest thing that I know my customers want because they are always asking about waterproof headphones and cell phone cases so that they can listen to music while they surf. 

After going on Amazon I found a product called a SoundBot and it is a waterproof speaker that lasted over 6 hours and connects via Bluetooth to any device! It also is equipped with radio and other cool things like audiobooks.

This was my first venture contract description, the feedback I received included that although my idea was wonderful, it had already been used. I really don't think that this product has officially been used by all and is set. By that I mean that every product somebody has like this either breaks within a week or just doesn't have all the things it says it does.

Based on what I learned from feedback, I may need to get just a tad more creative so that my audience believes this product differs from others.

Elevator Pitch No. 4

In this video I have changed many things according to the customers needs and necessities! I decided to change it up by not only adding new stores, but really focusing on what can be done in order to succeed! Based on the feedback I decided to change locations once again.

Week 14 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

-The biggest surprise for me in the reading was the topic on bankruptcy. I found it to be entertaining and very useful when reading about it. 

2) Identify at least one part of the reading that was confusing to you.
- One part of the reading that was confusing to me was the partnerships involved in bankruptcy and the crime that comes behind it.

3) If you were able to ask two questions to the author, what would you ask? Why?

- If I were able to ask two questions to the author I’d ask, “Why is this topic you spoke of so important to you?” And “Do you know anyone who has personally been affected by bankruptcy?” 

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

- There was nothing very important that the author was wrong about and I agreed with most things he said because he had lots of reliable sources and valuable information to back up his claims.

Google Gold

My general approach started with something small and simple. It started with the approach of making something out of myself and how I hope to thrive on becoming an entrepreneur someday. This blog taught me that although I may not have actually started my business SurfsUp, this blog gave me the imagination and creativity to do so. The activities I did for each blog to pursue SEO consisted of optimizing a certain approach for each post being directed to not only me wanting to become and entrepreneur, but the audience reading my post. The activities consisted of video blogs, writing posts, declaring videos of myself and my customers, along with speaking out about my business ideas.

My keywords were surfing, surfing equipment, surfing clothing, and Huntington beach surf. I selected those words because those are the subjects that entail what my business is truly about. I didn't change or refine anything, because I knew that those keywords were always most fitting.

I used social media to enhance my SEO efforts by publicizing my company to other vendors and surfing companies around the country. I expanded my company in the East and West Coast's which helped my business grow and gain an outstanding number of new customers. My blog's profile showed that each customer was more and more thrilled about the new and upcoming stores. My social media has never gotten ignored because of my loud and outgoing approach to the customers and audiences seeing my social media blogposts. 

The most "viral" post was definitely the post that including customers speaking about my business and ideas within the business and what is to come and what is to change. It is always outstanding to hear what other people have to say about your business. I also thought that customer review was the best because it gave my company a whole new dynamic to it.

Lastly, I did not make it to the first page of my google results and I need to work on that significantly. But, at least I did make it to ENT3003 students and teachers seeing my page!

Very Short Interview, Part 2

My impressions of the initial interview were very inspiring and I was able to learn a lot about a business that I had never heard of before. This new interview definitely set the stage for both interviewees though and I really got to learn a lot this time of how an entrepreneur grow his/her company. 

My reflection on how far I have come since the initial interview shows me that I have learned so much since starting this class and interviewing the first entrepreneur. I really learned so much since then and would like to keep interviewing entrepreneurs that can enlighten me so I can gain more experience into the entrepreneur world.

Celebrating Failure

Throughout this semester, I have wondered why taking 5 classes was a good idea to begin with, but as I shortly came to realize, it was definitely a much worser idea than I had thought. Being that I only take a few classes over fall, I made a much harder schedule than needed for Spring. With that being said, one weekend, I had way too much homework and accidentally missed one of my biggest assignments in a class. Having no time to hand it in, I emailed the teacher begging for a second chance due to my overload of work, but sadly my teacher didn't have as much pity for myself as I did. 

I learned this failure was a lack of organization on my part and that that was a major quality I needed to work on. If I had a list of all the assignments that needed to be done that day and over that weekend, just not by looking at them over the computer, I probably would have remembered it sooner, and remembered how big the assignment meant for a part of my grade.

As I reflect on my failure now, I see that it was 100 percent my fault, and I needed to be more aware of the situation I put myself in, when I signed up for classes. I cannot let my workload take control of my grades, I just need to manage my time better next time. 

Week 13 Reading Reflection

1)            What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

-The biggest surprise for me in the reading was the topic on bankruptcy. I found it to be entertaining and very useful when reading about it. 

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

- One part of the reading that was confusing to me was the partnerships involved in bankruptcy and the crime that comes behind it.

3)   If you were able to ask two questions to the author, what would you ask? Why?

- If I were able to ask two questions to the author I’d ask, “Why is this topic you spoke of so important to you?” And “Do you know anyone who has personally been affected by bankruptcy?” 

4)   Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

- There was nothing very important that the author was wrong about and I agreed with most things he said because he had lots of reliable sources and valuable information to back up his claims.

What's Next

I decided to go with a much more broader view on who I am as a person and what I would like to achieve. My name is Alexa Bernstein and I am offering a jewelry line for kids in which they design what they want on paper and I make it. My target audience is of course kids, but mostly parents with kids. This cool, new, millennial idea will have kids going wild! My customers will spend their product on my company because what better why to make your kids happy than doing what they want/love? No other way! My core competencies are other jewelry businesses that specify in jewelry for kids. The feedback memo for me includes locations of each store, gender differences in jewelry, customer service, owner feedback, and employee needs

Week 12 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The biggest surprise for me in the reading was definitely the talk about international business and the corporate world within it. I am surprised that the author has talked about it this early and find it to stand out from anything else. I find it also very interesting to learn about this topic.

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

One part of the reading that was confusing to me were the paragraphs about business owners and how they set their meetings and other social situations up. I didn't understand most of it, but found some of it to be interesting.

3) If you were able to ask two questions to the author, what would you ask? Why?

If I were able to ask two questions to the author I would ask, "If you were to own a business and had to travel internationally, where would you set up your business meetings? Along with "Why would you set up these business meetings specifically in that place, for business or for personal reasons?"

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

There was nothing specifically I thought the author was wrong about, and did not disagree with anything he said. I found his comments and statements to be interesting. 

Venture Concept No. 1

oncept for the class include customer retention, customer acquisition, product innovations, new merchandising strategies, pricing and promotional strategies, new sales channels and distribution strategies, changing consumer/customer dynamics, technological advancements, entering into new markets, and lastly, mergers and acquisitions. These are the different ways this company makes its money. 

The kind of product offering I believe should be next will be a surf bard with an installed waterproof radio. This is the next biggest thing that I know my customers want because they are always asking about waterproof headphones and cell phone cases so that they can listen to music while they surf. 

After going on Amazon I found a product called a SoundBot and it is a waterproof speaker that lasted over 6 hours and connects via Bluetooth to any device! It also is equipped with radio and other cool things like audiobooks.

Amazon Whisperer

The revenue drivers I currently include in my business concept for the class include customer retention, customer acquisition, product innovations, new merchandising strategies, pricing and promotional strategies, new sales channels and distribution strategies, changing consumer/customer dynamics, technological advancements, entering into new markets, and lastly, mergers and acquisitions. These are the different ways this company makes its money.

The kind of product offering I believe should be next will be a surf bard with an installed waterproof radio. This is the next biggest thing that I know my customers want because they are always asking about waterproof headphones and cell phone cases so that they can listen to music while they surf.

After going on Amazon I found a product called a SoundBot and it is a waterproof speaker that lasted over 6 hours and connects via Bluetooth to any device! It also is equipped with radio and other cool things like audiobooks.

This is a picture of the SoundBot.

The customer reviews for the product gives it a 3.8/5 stars, but is highly liked because of its waterproof abilities, loud speakers, endured multiple natural disasters, portability, and great size. The customers although, do not like the unclear radios, not easily accessible radio stations, temperature resetting to Celsius, and how you have to manually turn off the speakers.

I would change this speaker so that it has a built in microphone and one can speak when they want to turn it off. As well as providing it with a clip on so that one can put it on anything.

I think this product would make a great edition to my surfboard if it was built in to the side of and could be easily clipped on or off for adjustments. This product and my product would work hand in hand with each other, tremendously helping one another out.

Week 11 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The biggest surprise for me in the reading was the topic on the mythes about being an entrepreneur and the legalities that come with being one. There are many things 'legally' one has to do and conquer before becoming an entrepreneur. I found that very crazy to believe and now understand why there are shows like Shark Tank, that help people with certain things like that.

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

Nothing specifically was confusing to me, just surprising in other words. I found some of the topics to be a little hard to understand, but I overcame that, and definitely was not confused.

3) If you were able to ask two questions to the author, what would you ask? Why?

If I were bale to ask two questions to the author it would be, "do you think these shows like shark tank help a person?" and "which type of entrepreneur do you think deserves most credit for their work?".

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I do not think there was anything specific the author was wrong about, nor disagree on, I was just surprised during some of the readings and topics he spoke about.

My Unfair Advantage

Hello everyone!

My name is Alexa Bernstein and I own a company called SurfsUp. My company targets people who are interested in surfing and need the equipment and apparel for it. I was originally based in the east coast and shipped to many places in the west, so I decided to station my main store in Huntington Beach, California (the surfing capital of the country). When I expanded my stores, my customer ratings increased, as well as my business (financially and socially). My social capitalist have increased my networking tremendously and my company has gained the skills required to keep succeeding in my business. 

VIRN ANALYSIS

List of resources SurfsUp possess:

·    1. Knowledge and expertise on Surfing equipment and outerwear.

Valuable - Knowledge and expertise on what SurfsUp is selling is needed to help customers buy what is most suitable for them.

Rare - Kind of rare to find employees who know every detail about your product. 

Inimitable - Many surfers can replicate what my employees know.

Un-Substitutable -There are many surfers who are capable of this work. 

·     2. Excellent communication skills amongst each of the employees in all of our stores.

Valuable - Very valuable because communication is what helps this business thrive.

Rare - Very rare to have a good employee system, having them each communicate daily on what their stores have and don't have, along with sharing customer reviews/ideas.

Inimitable - Fairly difficult to replicate the relationships my employees have with each other.

Un-Substitutable - There are not many employees who are willing to make this company part of their every day lifestyles. 

·      3. Incredible 24-hour customer service. The phone is always on for customers with any issues or concerns on their apparel or equipment. We are here to make our customers happy and that is most important to SurfsUp. There would be nothing without our amazing customers!

Valuable - Very valuable, it is what stands out most to our customers.

Rare - Extremely rare to have such high customer service rates and abilities to help our customers 24/7.

Inimitable - Not easily done, no companies have such a thing.

Un-Substitutable - There is no substitute for having 24-hour customer service, providing our customers with help every day and hour of the week.

·      4. Time Management and Self Discipline amongst all of our employees.

Valuable - Very valuable tool to making a business succeed.

Rare - Very rare because most employees just work to work, but this company's employees work to make it their lifestyle and dedicate themselves to it. They set goals and work towards them.

Inimitable - Not easily replicable due to other tasks employees may have. These employees thrive off of the success of SurfsUp and are only trying to help it keep succeeding.

Un-Substitutable - Self-disciple and time management cant ever be substituted for something else. 

·      5. Low-cost equipment

Valuable - Very valuable considering we have the best and lowest cost brand name equipment for our customers. Its what makes us stand out most.

Rare - Very rare due to the high costs most business have on ripping off people.

Inimitable - This can easily be replicated, but will most likely not happen near my standards'.

Un-Substitutable - Low-cost equipment can only be replaced by even lower-cost equipment, but at that point won't even be a good piece of equipment.

·      6. Our innovating skills. We meet every week to discuss new possibilities the company can come out with in the future. We are always innovating. 

Valuable - Coming up with new ideas every week is what keeps this business going. People like to come back each time and see something new. It keeps the customers excited!

Rare - Very rare, most businesses just come out with new things each season, SurfsUp comes out with new things ever 3-4 weeks.

Inimitable - Fairly replicable, our vendor is always sending us new stuff.

Un-Substitutable - Innovation is the key to success and cant ever be substituted

·      7. Our human capital and network with the factories/business owners we buy from. We network with the best surfing equipment company in the world, and choose wisely what products we buy.

Valuable - Very valuable, networking is the key to succeeding in a business.

Rare - Not rare, most companies should do it, and most companies that do are successful.

Inimitable - The vendors SurfsUp buys from can someday be replaced for a different vendor selling a different piece of equipment we are buying, but cannot be replaced for a piece of equipment or apparel we are already buying from them. We have very good relationships with our vendors.

Un-Substitutable - Not highly substitutable.

·     8. One of our locations is in the surfing capital of the country: Huntington Beach. Our strongest location and consumer-loved store.

Valuable - Very valuable, this is our biggest and most loved store. It is the heart of our business.

Rare - Not rare to have a surfing company located in the surfing capital of the world.

Inimitable - Easily replaced if SurfsUp cannot pay its rent dues each month.

Un-Substitutable - Not highly substitutable, this is our most prized-possessed store.

·    9. Risk-taking and exploring customers/employees ideas. There is no better way to succeed in a business than from help of the people working in it.

Valuable - Very valuable towards the success of this business.

Rare - Fairly rare.

Inimitable - Easily copied and done.

Un-Substitutable - There is no substitute for good ideas and risk taking.

     10. Trust within the system and employee benefits.

Valuable - Very valuable because our employees is what helps this company succeed.

Rare - Rare to have complete trust within your employees and benefits to help them live their every day lives.

Inimitable - Not easily replicable by other employees due to their lack of being trustworthy and lack of care for the company.

Un-Substitutable - Substitutable if an employee doesn't hold to my standards.

After looking at SurfsUp's resources, it is fair to say that our most valuable resource is our biggest location. The location we have in Huntington Beach, CA, targets just the right people we need to make our consumer-based business thrive. Without this location we would not get the great business we do. It was hard to choose one resource because our employees and customers are incredible, but this location has been the heart of our company.