Rachel's Principles of Entrepreneurship

  Opportunity : Giving students a chance to earn better grades by adding on extra study tools for them for their own advantage. There isn't any changes in the environment that is creating this opportunity. My target market is students from the grades Kindergarten to College. There is no age limit to my service but the main age range is 6 years old to 25 years old. Now, customers are currently satisfying this need by studying for themselves and gaining access to outside resources when need be. I think customers are loyal to what they are using now because they think there is nothing else better for them. I plan to change that with by service I am putting in place. This opportunity is big because I am giving students who need more help than others a chance to excel in school and develop the grades they need to feel good about going to school. The window will be open for as long as children are going to school. They will be the leading people in these next generations to come so they ...

The exit strategy I am thinking about doing is wanting to stay with my company and product for as long as I can. I love to help encouraging students to be the best they can possibly be and I think my product does that. I think after making multiple products that do with Study Buddies and do equally as well, that's when I would start considering my options and figure out what I really want to do. For a product like this, it is something that can stay around for a very long time.  I decided to keep my exit strategy in the open because you never know what could fully happen to a company. The future is unpredictable. So when it comes a time were my product has finally met its mark, that when I'll fully dive into a thought out exit strategy and give my product what it deserves.  This exit strategy has definitely made me think about how well my product is actually going to do if I decide to go through with Study Buddies. Growth is important to a company so if my product isn't doi...

The overall theme of this book is evolution. I gained that kind of perspective because it seemed like Anderson was giving us the new and improved ways that went with people making things. That meant that we have come a long way since the actual industrial revolution and we as people are using new ways to grow as an country and as the whole world.  This book connected to this class by showing me how important entrepreneurship really is. It is not just businessmen/women making new companies and products, it is a field that makes the world grow bigger and have better means to it. Everything we own was just a little idea at some point and eventually someone took the opportunity to make it into something bigger.  An exercise that came to mind when reading this book is cause and effect. What I mean by that is identifying causes and effects for this "new" revolution and explaining how it differs from the industrial revolution that we learned about when we were kids. It could put mor...

Celebrating Failure     Last semester included a big milestone in my life. Not only completing my first year as being a sport management major, but also leaving my teenage years and going on to my twenties. This is the time that I will really become an adult and learn the struggles of adulthood year by year. With that being said, I know that there will be a lot of failures on this journey through my twenties and also the beginning of my adulthood.      Nevertheless, I found out real quick what my first failure of my twenties would be real quick. It had nothing to do with school, it was more rather my personal life. This failure was not being able to keep one friendship that was important to me. We were both going through some personal stuff of our own so that is what ultimately brought us together. Unfortunately, it was too much for the other person and gradually the friendship was crumbling apart to the point where we couldn't even be in the same room as each o...

Existing Market : I think what's next for my venture is reaching the international market and seeing if I have any potential internationally.  After interviewing three people, they all had the same basis of what they wanted next for this product. Even though my program is online, they want it to be transcribed in person and have places that they can go and meet with a person one-on-one who is employed with the company. When I asked them about going internationally, they thought was a good idea but in their eyes it was going big too fast. They think I should worry about building a reputation in the U.S before I move on to something internationally.  After listening to m interviews, I think the best for my company ans Study Buddies is to grow as much as I can in the national market. I will look into finding places that could be designed as "headquarters" for students to come wither their parents (if needed) to sit down and have meetings about the students progress or to get...

    Opportunity : Giving students a chance to earn better grades by adding on extra study tools for them for their own advantage. There isn't any changes in the environment that is creating this opportunity. My target market is students from the grades Kindergarten to College. There is no age limit to my service but the main age range is 6 years old to 25 years old. Now, customers are currently satisfying this need by studying for themselves and gaining access to outside resources when need be. I think customers are loyal to what they are using now because they think there is nothing else better for them. I plan to change that with by service I am putting in place. This opportunity is big because I am giving students who need more help than others a chance to excel in school and develop the grades they need to feel good about going to school. The window will be open for as long as children are going to school. They will be the leading people in these next generations to come s...