Rachel's Principles of Entrepreneurship

Figuring Out Buyer Behavior Part 2     With my demographic, I interviewed three college students this time instead of just regular high school students. With my service, I think that college students would be the ones that would be wanting this service the most.  When interviewing them they all thought the same thing, if the quality of the service does not match the pricing then it is not worth it to actually have the product. With studying services, there is a lot already offered and catered to college students. To break that part of the market I would have to grab the college student's attention for my product to do well. When asking the students this, they thought that my product had that sense of uniqueness and has the potential to break through this demographic.      My segment is mostly going to end up buying my service online. It is an online service so there will be no way to get anything in-person at a store or a library of some sort. With that in ...

Halfway Reflection  Some behaviors that I've picked up while taking this class is looking more in-depth in businesses. Learning about entrepreneurship has opened new doors for me and has me looking more into businesses that I know to learn even more about everything. Relating back to the class, I've gained the habit to try to be on top of my assignments. With that, I've been setting reminders to make sure I get these assignments done on time. Setting those reminders has been helping me with my procrastination because I tend to fall into a big hole where all I do is procrastinate. With three assignments a week, that is not a good habit to have. Staying on top of assignments has helped me focus more on the material and actually learn from this class.   I've felt like giving up in this class only once and that was when we started doing interviews for some of the assignments. I wasn't taking my "product" seriously so I didn't see the purpose of going out o...

Steve Jobs     Reading about Steve Jobs was very interesting. He was one of the biggest entrepreneurs gaining all his success from starting the infamous Apple company. This company made waves in the technology world and made all the other technology companies want to follow after them. Steve Jobs was a pioneer in entrepreneurship and I think he is someone to look up too if you want to start a business.   

Figuring out Buyer Behavior Part 1 1.  Segment: Demographic  For the interviews I chose to talk to three high school students that are all wanting to find study materials needed to excel in their classes. Since they all had the same unmet need I continued on with the interviews. I asked them why they had the need and all of them collectively wanted to do better in school and try to make studying better for them. Most of the time for students, getting the good grades isn't the problem, knowing how to study is the issue. I hope that my potential service makes students want to study better and get in the hang of it.  From conducting these interviews, I learned that well-rounded students have similar needs when it comes to studying and good grades. They don't want to lose their standing in class ranks and want to try to be the best of the best. I think this service will help them do exactly that.  With this information, I will make sure I fix my service to have an adapti...

Idea Napkin #1  I am a college student currently going towards her goal in life. I think one of my main talents is having leadership. I played team sports my whole life and I naturally learned how to become a leader through the experience. I think with learning that skill it made it easier to take on certain tasks in my life. It has taught me to take lead when there is no apparent boss or "ruler" so there can be some direction whether it can be in a group project or in a work environment. I think this skill can lead into my business life because it can cause me to break through my shell and strive to be the best business owner. Having leadership in business is a way to make things easier in the environment and meetings can run a lot smoother.  I am offering customers a way to earn better grades with less of the hassle. For students that aren't in college (elementary, middle, and high school), study materials can be a hassle to acquire because of the lack of programs or se...

Testing the Hypothesis pt. 2     For the interviews I conducted, I picked people that could be closely related to the general student but don't have the same need that the student would have. 1. The first interview I conducted was with a parent that has an excelling high school student. They fall outside of this boundary because they don't have the need of wanting their child to do better or needing to study more. They think their child is doing more than enough and getting good grades as the result of that. The need here for this parent is more along the lines of hunger, the hunger of wanting their child to keep doing better in school and to not fail. I think the need for the parent has been there ever since their child started going to school. As for the student, the need only comes occasionally when they want to raise a grade they aren't happy with or to past time by studying.    Inside the Boundary   Outside the Boundary  Students needing extra help...

Solving the Problem     After looking back at all the opportunities I found, the only one that seemed perfect to me was figuring out a service to help students study efficiently and produce good grades as an result. This kind of opportunity would mostly cater to struggling students that need extra help and want to steadily increase their grades. This service can also be used by model students who want to get an extra push to turn that B into an A or an A minus to an A plus.      When I was thinking of this service, I wanted to make it accessible to all ages from Pre-K to College. There will be different sections across the format to fit the specific grade and class that student is in to insure they are learning the right material that is designed for them. As for the information going on the service, there will be databases from every school in the United States with every state and their core curriculum. This means all the user will have to do is sear...