Venture Concept No. 1

Opportunity

When thinking about my venture concept, I first had to decide what group or groups of people have an unmet need. My first thought was in regards to pet owners. Therefore, my potential customers are pet owners, or more specifically, new pet owners of usually dogs but sometimes cats or other animals may apply too. The forces that created this opportunity is honestly the ongoing evolution of the "lazy human" or the human that looks for more efficient ways to complete a task. Many customers that apply to this category of human are younger adults in Generation Z, aka people around the ages of 23-35. However, my customer base can actually be universally wide spread to any demographic, because many people want to become pet owners at different stages in their life. My focus though is on the younger generation because they are more prone to using new technologies and they are also known for being lazier. Currently people are satisfying this need through manual labor and ineffective cleaning habits that don't need to be completed by the human race. I would say that they aren't very attached to their current method of combating this opportunity. Therefore, this opportunity is big and has a large window for attracting customers. The only limits would be other companies trying to replicate my idea and then creating too much competition in my new market.

Innovation

My idea is radically innovative as I am creating a robot to perform tasks that are usually performed by a human. My big innovative idea is to essential have a "puppy clean up" robot. As in it's name, it will clean up puppy, or other types of pets, messes and make the lives of pet owners easier and more efficient. It will have different aspects to its design that allow it to be flexible and adaptable to its environment. Users will be able to choose their own cleaning supplies that the robot will use - in case a consumer is loyal to their current brands. However, the robot will do all of the cleaning and can be utilized for different surfaces and types of messes. This product will begin to sell at a higher price before it becomes popular and can start making a return profit. Then, hopefully after a couple of months the price will be lowered so that your everyday consumer has the ability to purchase this product. I would say around $50-$60. However, it will last the lifetime of the pet and is very durable.

Venture Concept

My innovative idea will address the opportunity I have previously presented in a way that it will make the everyday person, consumer, and pet lover's life better, easier, cleaner and more efficient. So much time and stress is put into cleaning up after your pet in the early stages of their life. Instead, that time and energy should be put into bonding with and loving your pet. Training it to sit and lay down, that sort of thing. Customers will want to by my product simply because no one likes to clean up pet messes. It will be affordable enough that the supply and demand ratio will be easily fulfilled for the people in todays world. The only worries I would have when presenting my product to consumers is the threat of already present cleaning machines that don't limit themselves to pet messes. Furthermore, I may have trouble conforming older people that don't like using new technologies. Another type of person that may be harder to sell to is a pet owner that has had a pet previously and already went through the difficulties of having a new pet with messes, didn't think it was that big of a deal, and then decides that if they did it once, they can do it again. However, this can also have the opposite effect in that if someone has had a pet previously and said never again because of the messes, my innovation would encourage them to get another pet.

As stated in a previous post, my best resource for making my product a success would be my entrepreneur attitude and people skills to get my idea across to consumers and make them excited to buy my product. I will also be focusing on doing a partnership with a pet store such as petco in order to sell my product through their already credible establishment. When answering the "what's next" for my product, I would say that it can always be improved and new features could always be added to it as the consumers need developed.

Elevator Pitch No. 3

1. The Pitch:

2. A Reflection:

Most of my feedback was positive and encouraging. They pointed out that I should have less noise in the background that was distracting. However, they really loved that I used my own dog as an example. I think the presence of my dog made my idea more realistic.

3. What did you change:

In this pitch tried to remove the distracts that were present in the previous pitch. I transformed the way I spoke to a bit more eloquently and less causal. Previously, I was attempting to come on as approachable and social, but I think I have now found a better balance in between professional and conversational.

Amazon Whisperer

Revenue Drivers: My revenue drivers include the partnership I plan to make with a pet store that will sell my product, and the profit I make from selling the products individually and online.

Next Product: The kind of product offering I believe should be next is a way for owners to look after their pets when they aren't home. This could be via interactive video, or an even more advanced robot that you can control from miles away.

Enhancement: This next thing will enhance my product because it won't only clean up after your pet, but also take care of it and make sure it is socially healthy and happen when you can't be home to directly give attention to your pet.

Amazon: The only product I could find on amazon that was close to the product I would like to venture is cleaning supplies specifically for pet messes. However, there is not a product out there that will clean the mess up for you.

Customer Views: customers seem to like this product because it is one of the best cleaning supplies out there. They safe it's safe to use because it has natural ingredients and it is also successful in removing stains and odors.

Design/Usability: I would find a way to make the product less directly hands on - that way the consumer would still have a clean house but wouldn't have to do all of the scrubbing with their own hands where they could potentially get dirty in the process.

Addition: For my product, I will need cleaning supplies within the robot for when the robot does its cleaning. I think that this amazon product would be a perfect formula for my cleaning supplies and I would definitely add it in and possibly partner with the cleaning product company.

My Unfair Advantage

Resources & "VRIN" Analysis:

1. A creative and motivated mindset - something within me that others don't always have
2. An open market in need of my venture - my idea is in demand
3. A communicative and approachable work environment - employees will be happy
4. The passion to help people - my venture is good for the public
5. Experts willing to help - refer to previous exercise
6. Ability to take out loans for initial financing - people don't always qualify for this
7. Influencing reputation to my peers - credibility
8. Experimental subject - I can test my venture on my puppy
9. Current supplier willing to sell my venture if successful - PetSmart
10. An organized and encouraging work environment to employees - bring your dog to work!



My top resource is my ability to influence people and create a positive work environment. This is because it is easy for someone to come up with a venture and try to make it successful - but people don't always have the social skills to make it a positive place to work or company to work with. I think these personal skills that add to my human capital give me the greatest advantage for my venture.

Reading Reflection No. 2

The Art of Social Media: Power Tips for Power Users

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

The general theme of the book was based around social media, and an individuals use of it. It did not only give helpful life hacks and tips of the usage, but also how to make it mean different things and utilize the most successfully and appropriately. 

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

This book actually specifically enhanced my learning for my current internship. It is an internship based around social media so I have already used some of the information in this book as I was reading it. A lot of the information I hadn't even heard before. However, it was interesting when I came across a paragraph or so that I was already familiar with from working in the field. 

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

As an exercise for this class, I would have all of the students do a social media clean up and go back to their middle school Facebook posts and delete inappropriate or unreadable material that they wouldn't want people today to find. I would also advise them to delete bad pictures and materials that would effect their personal brand in a negative way.

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?

My biggest moment when reading the book was when I realized how these business tactics could not only be used for companies and the promotion of products, but also for your everyday life. Furthermore, it gave me more insight than I expected when using the information for my current internship. I even shared some of my learnings with my boss - she was impressed. 

Growing My Social Capital

Mr. Roberts

1) My expert is an engineer. Although he currently works at the company I am during my internship at, he has had interest in the past in building recreational robots. Therefore, he is the perfect expert to go to when I have questions about the reality of creating my product and the cost and feasibility of it. 

2) He is a domain expert who will advise me on the construction of my product...a robot. 

3) As stated above, this person works at the company I am interning with and I stopped by his office for a chat about robotic engineering. 

4) He gave me some of his time out of his day and informed me on the feasibility of my product. 

5) In order for my product to become a reality, it needs to be built and created. Therefore I need someone to do the engineering work.

Tracy

1) She is a sales associate at a local pet store that sells puppy pads and pooper scoopers.

2) Market expert; she is in the same business as I want to be in - the assistance of cleaning up puppy messes. 

3) I actually went to the local puppy store that I bought my own puppy's puppy pads from and spoke with her while she was working.

4) She gave me some time out of her day and assisted me with providing information on the puppy clean up market. I then bought more puppy pads from her.  

5) In order to make my product successful, I need to know what other products are out there that could be my competitors. She provided me with this information. 

Petsmart Manager

1) She is a manager at petsmart and has been working in the pet industry for 6 years. 

2) She is a supplier and is a head manager at the store that I would be ideally selling my product to so that they can then sell it to customers.

3) I called the petsmart closest to my house and asked to speak with the manager. She gave me a call back at a time that was convenient for her and then we spoke about the pet supplies supply market.

4) She took time out of her day to call me back which was a very kind gesture in return I gave her a promise that if my product became a reality I would good petsmart top selling rights. 

5) My product will be have to be sold by a pet store that has already established credibility. Petsmart is a very credible pet store that many people trust. 

Refection: I think this exercise showed me that many people are willing to share with you information that find them selves an expert at knowing. Therefore, I will not be as timid to approach people to ask them questions. This experienced differed because I was talking to professionals that were already successful in their fields so it gave me a lot of insight. 

Idea Napkin No. 2

1. You. I am someone that wants to make things in life easier and more efficient for others. I have had experience working with people and hearing about their frustrations with different products and processes and I think I am good at listening and solving problems. I think this business will help make life easier and more successful for myself and for others. (My feedback said that my product would make their lives easier)

2. What are you offering to customers? I am offering the customers an easier way to clean up puppy messes so that they can spend time with their puppy instead of always cleaning up after them. I think that if people don't have to clean the messes, they will get less mad at their puppies too and then have a better bond with their owners. (My feedback said that customers would buy my product.)

3. Who are you offering it to? I am offering this product to younger pet owners that like to find new technology to help make easier but also have a love for animals. This person will probably have a busies social/work life and will need to puppy clean up robot to help raise the puppy.

4. Why do they care? People will pay for my product because it will prevent them from having to touch yucky puppy messes and will save time because the robot will be more efficient in clean up than a human. 

5. What are your core competencies? My product is unique because is new and modern and up and coming and no one has done anything like it before. It's a need that a lot of people have and that hasn't been looked at to solve yet. 

ANALYSIS: I think that these elements fit together perfectly because they hit everyone point that a product needs to have to be successful and sell in a market. I think the only weak aspect will actually be the creation on the product and to make sure it doesn't have too many defects. I also think I will need to figure out a way to make the product useful after a puppy is potty trained and no longer makes messes. (A new piece of information I received is that my product mostly applies to dog owners only, and not cat owners. This is because cats clean up after themselves. It could cause me to not be as profitable.)

Feedback memo:  

My feedback said that my product would make their lives easier.

My feedback said that customers would buy my product.

A new piece of information I received is that my product mostly applies to dog owners only, and not cat owners. This is because cats clean up after themselves. It could cause me to not be as profitable.

My feedback said that this product could apply to my customers lives.

My feedback proved that my product was targeted at the right audience.