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? 

I was surprised that families in other third world countries can make such little in a matter of one day.  I knew that this was real but, it is still surprising to see the stats that line up with it.  This for sure stood out the most.

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

None of the reading was confusing to me.

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

I would ask why this information was included and how it can lead people to make a difference.  I feel like the information was just there but not attached to any real motives.  

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 that the author was wrong and I do not disagree with what was stated.

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.

So far the highs I have had have been related to moments when people accepted or agreed with my idea.  Even to the extent that they would actually claim to buy one in the future.  The lows have to deal primarily with people denouncing some of my claims.  Some of this has helped me prevail as an entrepreneur and has ultimately made me a more successful student. 

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?

The most formative experience would be the interviews.  It helped me develop my people skills and justify certain points regarding my idea.  I will remember this experience years later and it was also the most joyous experience because I was actually able to get real world reactions.  I am most proud of myself for receiving a patent.

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?

I feel like I have moved closer to developing an entrepreneurial mindset and I see myself as an entrepreneur.  

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?

I would recommend students to try and learn from the class as well as staying on top of the work.  They should try to apply this to their lives.  This will help them engage with their assignments.

Elevator Pitch No. 4

Venture Concept No. 2

Venture Concept No. 2:

(The work below is the same as my description in Venture Concept No. 1 because unlike most other students I have already spent years developing my idea which entails an official description from my US Patent.  I am currently in the marketing phase and as my idea stands I haven't had a need to adapt my venture concept.  

-------Start--------

The opportunity imbedded in my venture concept is focused upon a niche in the headset and portable audio market.  There is an unmet need in the headset market and it directly pertains to the tangling of most all headphone wires.  There really is no solution to tangling and hard to manage headset cables.  The people currently searching for a solution in the market are hungry to buy and open to adapting to a new idea.  This leads my invention to be very desirable.  Furthermore, the customer audience is very wide and diverse.  Essentially anyone who currently owns a headset or is looking to use a headset in the future is a customer.  This embodies a massive audience.  Apple sells their phones and iPods with headphones that tend to tangle very frequently.  This alone is a large market that can adapt my idea to improve the user experience.  Plus the nature of the need is located upon a current platform.  The headphone market already exists and is very competitive.  Beats headphones and Bose for example own a large share of the customer base. These two monster companies competing allow for very high returns if one is able to enter into the elite market.  The fact that I have a patent on my idea protects me from any of these companies using my innovation.  I can wedge myself in and implement my vision without worry of theft.  Adding to this, the headphone market is expanding.  Older generations are jumping on board with the technological age and accepting the new norms.  This expands the market in both directions, as young generations are a “give in” for adaptation of new technology.  Customers are very loyal to their headphones and the industry is not going away any time soon.  Music has been around since the stone ages and will only flourish more in the future.  So if the work is done right, the opportunity is massive because of the nature of the industry.  The window of opportunity is only affected because of the growing Bluetooth market. This market is negative because of the harmful radio waves associated with the function of Bluetooth as well as the lower quality that this alternative possesses. Sooner rather than later will help so the movement to Bluetooth can be avoided.  Customers are running to Bluetooth because there is not another solution to tangled headphones.
My innovation is the Recoil Device for Mobile Phone Headsets.  Here is a description brought directly from my United States Patent:  An enclosure which provides a storage of mobile phone headset cables as well as a means to extend and retract said headset cables is disclosed. The enclosure allows the headset cables to be wound internally onto a large diameter reel while a mobile phone connecting cable is wound onto a smaller spool, thereby allowing a greater length of headset cables to be extended. A button enables said cables to be retracted to eliminate slack while the device is in use, or to completely retract the cables when the device is disconnected from the phone. The retracted cable portions may be contained within the enclosure which further comprises a plurality of nests along external surfaces for the storage of ear buds, a microphone, and the phone connection plug in a flush manner, thereby avoiding the entanglement of exposed loose cables.  Furthermore, here is a description of the background of my invention:  Many people have grown accustomed to the convenience afforded by wireless cellular telephones. Many people, including young children, carry a cellular phone on their person at all times or know where they can get their hands on one at all times. To further the functionality of such phones, manufacturers have recently added the ability to sync a wireless headset using a BLUETOOTH® connection or equivalent protocol.
Even with the availability of such wireless earpieces, many users prefer wired headphone solutions due to their reduced RF exposure, higher fidelity, lower cost, and ease of use.One (1) drawback associated with the use of wired headphones is that the cord is unruly and annoying to manage when not in use. Many users place the headphones into a pocket or purse where they become knotted up. This causes difficulty the next time they headphones are need, and can damage the headphones and wiring over a long period.In some cases, to avoid tangling, the cord is just left dangling from the user's head even while they are not using it. This has obvious downsides such as posing safety hazards, diminishing the user's ability to hear environmental sounds, looking strange, and increasing likelihood of damage to the headphones due to contact or snagging.Various attempts have been made to provide cord take-up devices for earphones. Examples of these attempts can be seen by reference to several U.S. patents, including U.S. Pat. No. 3,798,389; U.S. Pat. No. 4,942,617; U.S. Pat. No. 5,422,957; U.S. Pat. No. 5,684,883; U.S. Pat. No. 5,832,098; and U.S. Pat. No. 6,480,611. However, none of these designs is similar to the present invention.  While these devices fulfill their respective, particular objectives, each of these references suffer from one (1) or more of the aforementioned disadvantages. Many such devices are not sized or designed for constant comfortable connection to a cellular phone or similar device. Many such devices do not work with a wide range of audio devices. Many such devices do not provide convenient attachment or carrying means adaptable to a user's preferences and particularly suited for portable connection to a cellular phone. Many such devices do not include provisions for microphone assemblies as are necessary for cellular phone compatible headsets. Many such devices do not provide convenient concurrent operation of headphones, microphones, and plug assemblies in a quick and ergonomic manner. Accordingly, there exists a need for a recoil device for mobile phone headsets without the disadvantages as described above. The development of the present invention substantially departs from the conventional solutions and in doing so fulfills this need.
Lastly the Venture Concept will apply to all of the customers looking to trade their headphones for something that will actually make the user experience more enjoyable. Ultimately this is beneficial to both the customer and myself because I am offering a legitimate solution.  It shouldn’t be hard to get customers to switch because my headset should cost roughly the same amount as a standard headset but offer a better solution. The competitors are other recoiling companies but they cannot use my dual spool technology so they have a disadvantage in the market.  Their headsets will dangle in the center while mine can be flush and stowed away in a pocket or on a belt.  My venture is currently diving into the market aspect.  The next thing that I want to accomplish regards making a static prototype, then a functioning one and eventually putting them up for sale.  In the next five years I want to be selling my invention even if it is just locally, that way I can get an idea if it is working and also receive feedback regarding the functionality of it.  In the next ten years I want to be producing on a massive scale and selling in stores like Best Buy to a major audience.   Ultimately, I want to revolutionize the headphone industry. 

---------End---------

Provide a summary of the feedback you received from your previous venture concept description. You certainly want to include the student feedback, but you may also include the feedback you received from others during the "What's Next" exercise. You want to summarize all of the feedback, but be sure to place an emphasis on what people recommended you change about your idea. (In other words, don't just describe the positive feedback.)

The feedback I received was primarily positive and mainly agreed with my assertions.  Many individuals stated that they would buy or use the device.  I found this very good and also made note that many individuals wanted to use it when working out.  So this will be an audience I focus marketing on.  Negative feedback however was sparse but present.  Someone mentioned that corded technology will be obsolete which I think is incorrect.  Corded technology is going away because there hasn't been a solution to tangling, not because cordless is better.  Cordless actually is worse quality sound and poses several health hazards from radio frequency exposure to the brain.

Describe how you changed your venture concept, based on what you learned from the feedback.

Based on the feedback I got I do not need to change my venture concept which is why it has stayed the same.

Week 14 Reading Reflection

The biggest surprise for me in the reading was the discussion of international markets.  Personally, I thought that this class was going to be focused on localized entrepreneurship but this topic really opens up to the big market.  None of the reading was confusing to me but, I would ask the author why this was included and how we can learn from other companies participating in international markets.  I would ask these questions because we could all learn from extensive work in the world market.   There is nothing that I think the author was wrong about and I do not disagree with the author.

Google Gold

1) A discussion of your general approach and strategy to search engine optimization (SEO). What were some of the activities you did for each blog post to pursue SEO? 

I made sure that my posts were complete and rich in detail.  This is a key way to real in an audience and keep them coming back for future posts.

2) What were your keywords. How did you select those keywords? Did you change or refine your keywords through the semester?

I used keywords like "Phat" and "Blogz".  These unique words helped my page stand out from the rest.  I didn't change them and mainly selected them because they are unique.

3) How did you use social media to enhance your SEO efforts? What your your surprises or general impression of using social media to improve your blog's profile? Was social media generally receptive of your blog, or did it get ignored?

I attached nice photos like the ones I would post on Instagram.  This gives my blog a nice and professional feel.  I think using social media like google plus was a good thing and I was surprised to see that my profile was viewed over 27,000 times since the start of the blog.  I almost always got good reviews on what I was doing so that is encouraging through the process.

4) What was your most "viral" post? In other words, which post obtained the most traffic? Why do you think?

My most viral post got 47 views.  This does not take into account the views through google plus though.  I think it obtained the most traffic because it was an earlier post and had more time to gain popularity.  

5) Finally, did you make it to the first page of Google results for your keywords? If not, what page of results did you make it to? 

When you search my blog, I am the first result on Google!  

Very Short Interview, Part 2

My impression of the first interview still stands however, my views have been widened and I feel like a more developed entrepreneur.  I visited Anton yet again and asked him three of my very own questions.  I was unable to record the interview but, it went very well.  I first asked what it means to adapt as an entrepreneur.  Anton answered by stating that adapting means keeping options open and allowing for peer insight.  Personally, I could not agree more.  Second I asked what it is like to fail.  He replied by talking about how you can't let failures set you back but only empower you to find more solutions.  Lastly, I asked if stress is a good thing for an entrepreneur.  Anton states that stress is good to a certain degree but you don't want it to inhibit your proper work flow.  I think Anton and I both agree that the interview went even smoother.  I think that I have grown as an innovator.

Celebrating Failure

This semester I have failed at working out every day.  Over fall semester I was able to work out every day and felt great about it.  This semester I have been working out but not on a constant routine and need to get back into the flow of things.  I learned that being in a routine pushes your mind to stay on track.  Doing it whenever you can is harder to commit yourself to.  I think failure happens but good failure we are able to learn from.  When you give up, that is when you really fail.  I think failure should be evaluated and worked on each day.  I also think that this class has reinforced the fact that it is okay to fail if you can learn and grow from it.

Week 13 Reading Reflection

The biggest surprise for me in the reading was the reference of actually placing a value on a company based off of a book.  I feel like companies can't be valued by a set of rules.  Each company carries a unique level or worth.  None of this reading was confusing to me but, I just don't totally agree with it.  If I could ask the author two questions, I would ask why this method was explained and why an alternative was not offered.  I do not disagree with what the author said but, I think she should evaluate which methods are best.

My Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

If I am offered the right amount I will sell my idea.  This is all dependent on the success of the business though.

2) Why have you selected this particular exit strategy?

I have selected this because it allows me to stay open to different options.

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

I think that my exit strategy hasn't affected much because having an open mindset is good for fostering innovation.  

Week 12 Reading Reflection

The biggest surprise for me in this weeks reading was the discussion of growth.  I think this topic has already been covered so much so I was actually surprised that it came up again.  This topic was talked about in depth and actually broken down into sections for this weeks reading.  It was not confusing to me and actually helped me better understand it.  On the contrary, if I could ask the author two questions I would ask what the most important step in growth is and also what the most fragile step in growth is.  I would ask these questions because they pertain to the most vital areas of expansion.  The author was not wrong about the topic and I do not disagree with the author.

Venture Concept No. 1

Venture Concept:

The opportunity imbedded in my venture concept is focused upon a niche in the headset and portable audio market.  There is an unmet need in the headset market and it directly pertains to the tangling of most all headphone wires.  There really is no solution to tangling and hard to manage headset cables.  The people currently searching for a solution in the market are hungry to buy and open to adapting to a new idea.  This leads my invention to be very desirable.  Furthermore, the customer audience is very wide and diverse.  Essentially anyone who currently owns a headset or is looking to use a headset in the future is a customer.  This embodies a massive audience.  Apple sells their phones and iPods with headphones that tend to tangle very frequently.  This alone is a large market that can adapt my idea to improve the user experience.  Plus the nature of the need is located upon a current platform.  The headphone market already exists and is very competitive.  Beats headphones and Bose for example own a large share of the customer base. These two monster companies competing allow for very high returns if one is able to enter into the elite market.  The fact that I have a patent on my idea protects me from any of these companies using my innovation.  I can wedge myself in and implement my vision without worry of theft.  Adding to this, the headphone market is expanding.  Older generations are jumping on board with the technological age and accepting the new norms.  This expands the market in both directions, as young generations are a “give in” for adaptation of new technology.  Customers are very loyal to their headphones and the industry is not going away any time soon.  Music has been around since the stone ages and will only flourish more in the future.  So if the work is done right, the opportunity is massive because of the nature of the industry.  The window of opportunity is only affected because of the growing Bluetooth market. This market is negative because of the harmful radio waves associated with the function of Bluetooth as well as the lower quality that this alternative possesses. Sooner rather than later will help so the movement to Bluetooth can be avoided.  Customers are running to Bluetooth because there is not another solution to tangled headphones.

My innovation is the Recoil Device for Mobile Phone Headsets.  Here is a description brought directly from my United States Patent:  An enclosure which provides a storage of mobile phone headset cables as well as a means to extend and retract said headset cables is disclosed. The enclosure allows the headset cables to be wound internally onto a large diameter reel while a mobile phone connecting cable is wound onto a smaller spool, thereby allowing a greater length of headset cables to be extended. A button enables said cables to be retracted to eliminate slack while the device is in use, or to completely retract the cables when the device is disconnected from the phone. The retracted cable portions may be contained within the enclosure which further comprises a plurality of nests along external surfaces for the storage of ear buds, a microphone, and the phone connection plug in a flush manner, thereby avoiding the entanglement of exposed loose cables.  Furthermore, here is a description of the background of my invention:  Many people have grown accustomed to the convenience afforded by wireless cellular telephones. Many people, including young children, carry a cellular phone on their person at all times or know where they can get their hands on one at all times. To further the functionality of such phones, manufacturers have recently added the ability to sync a wireless headset using a BLUETOOTH® connection or equivalent protocol.

Even with the availability of such wireless earpieces, many users prefer wired headphone solutions due to their reduced RF exposure, higher fidelity, lower cost, and ease of use.

One (1) drawback associated with the use of wired headphones is that the cord is unruly and annoying to manage when not in use. Many users place the headphones into a pocket or purse where they become knotted up. This causes difficulty the next time they headphones are need, and can damage the headphones and wiring over a long period.

In some cases, to avoid tangling, the cord is just left dangling from the user's head even while they are not using it. This has obvious downsides such as posing safety hazards, diminishing the user's ability to hear environmental sounds, looking strange, and increasing likelihood of damage to the headphones due to contact or snagging.

Various attempts have been made to provide cord take-up devices for earphones. Examples of these attempts can be seen by reference to several U.S. patents, including U.S. Pat. No. 3,798,389; U.S. Pat. No. 4,942,617; U.S. Pat. No. 5,422,957; U.S. Pat. No. 5,684,883; U.S. Pat. No. 5,832,098; and U.S. Pat. No. 6,480,611. However, none of these designs is similar to the present invention.  While these devices fulfill their respective, particular objectives, each of these references suffer from one (1) or more of the aforementioned disadvantages. Many such devices are not sized or designed for constant comfortable connection to a cellular phone or similar device. Many such devices do not work with a wide range of audio devices. Many such devices do not provide convenient attachment or carrying means adaptable to a user's preferences and particularly suited for portable connection to a cellular phone. Many such devices do not include provisions for microphone assemblies as are necessary for cellular phone compatible headsets. Many such devices do not provide convenient concurrent operation of headphones, microphones, and plug assemblies in a quick and ergonomic manner. Accordingly, there exists a need for a recoil device for mobile phone headsets without the disadvantages as described above. The development of the present invention substantially departs from the conventional solutions and in doing so fulfills this need.

Lastly the Venture Concept will apply to all of the customers looking to trade their headphones for something that will actually make the user experience more enjoyable.  Ultimately this is beneficial to both the customer and myself because I am offering a legitimate solution.  It shouldn’t be hard to get customers to switch because my headset should cost roughly the same amount as a standard headset but offer a better solution. The competitors are other recoiling companies but they cannot use my dual spool technology so they have a disadvantage in the market.  Their headsets will dangle in the center while mine can be flush and stowed away in a pocket or on a belt.  My venture is currently diving into the market aspect.  The next thing that I want to accomplish regards making a static prototype, then a functioning one and eventually putting them up for sale.  In the next five years I want to be selling my invention even if it is just locally, that way I can get an idea if it is working and also receive feedback regarding the functionality of it.  In the next ten years I want to be producing on a massive scale and selling in stores like Best Buy to a major audience.   Ultimately, I want to revolutionize the headphone industry. 

Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 

Revenue Drivers:

sale of headsets

sale of accessories 

partnerships with companies

• Describe what kind of product offering you believe should be next. What's the next thing your customers want?

I think my customers will want more color options

• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

It improves the user experience

• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

I have had an official patent search done by the United States Patent and Trademark office and there is no similar invention

• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

Customers seem to like my product because it fixes a problem and some seem to be worried about it being bulky but I think my future customers will  be happily surprised.

• Describe what design/usability changes you'd make to the product. 

I would make mine slimmer and more simplistic

• Describe why you think this product would make a good addition to your current product/service offering.

I think this product will make a good addition to my current lineup because it will offer new designs and spice up the patented idea.

Week 11 Reading Reflection

The biggest surprise for me in the reading was the different paths it leads to the audience for business planning.  I found it interesting and also helpful for individuals who are looking for direction in their work. None of the reading was confusing for me and I actually found it to be very helpful. If I could ask the author two questions I would ask how the chart is backed up by fact and truth and I would also ask what feedback the author has got back from innovators who have tried the advice give.  I would ask these questions because it will help prove the statements he/she made.  I don't think the author was wrong and I also do not disagree.  

My Unfair Advantage

• Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) 

• Conduct a "VRIN" analysis for each resource. That is, describe, for each resource, how it is valuable, rare, inimitable (how hard it is to copy by others), and non-substitutable (are there other resources that can provide the same benefits?). 
• After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.

1  Experience in the Field

VRIN:  This resource is valuable because it allows me to understand the consumer market.  It is rare because not many people understand the Recoil Device market.  This is hard to copy because it is truly unique experience that only I have. There is not any other resource that can provide the same benefits as this.

2  Prototypes

VRIN:  This resource is valuable because it helps me show buyers what the final product will look and feel like. This is rare because most entrepreneurs do not have prototypes early on in their startup.  This is hard to copy and also hard to reproduce the benefits.

3  Patent

VRIN:  This resource is incredibly valuable as it serves as protection for my idea.  It is rare because not many people have patents.  It is impossible to copy and cannot be reproduced for my idea.  This is my best resource.  This is the most important because it ensures that only I can produce my idea and that I have sole rights to it.

4  Knowledge of the competition

VRIN:  This resource is important because I know what else is out there.  It is common because most people know who they are competing against.  It is also unique so it isn't really easy to copy or reproduce for my specific situation.

5  Connections with investors

VRIN:  This resource is very important for moving my idea to the next phase.  It is uncommon for most entrepreneurs to know investors personally.  This is hard to reproduce and to find.

6  Patience

VRIN:  I think this is a valuable resource as patience is needed in this field.  It is uncommon for people to have patience now days and I feel like this will set apart the actual innovators.  It is easy to reproduce but, will it actually be done?

7  Persistance

VRIN:  I think this is a valuable resource because you need to be persistent to have your idea heard.  It is common for most inventors to be persistent which is why the competition is so high.  It is easy and normal to reproduce this through competition.

8  Knowledge of 3D printing

VRIN:  I think this is valuable as 3d printing is constantly being used to draft up prototypes.  It is common on universities as this type of printing can be free for students.  It is not common yet easy to duplicate.

9  Connections with auto CAD creators

VRIN:  This is valuable as the digital world is ever more important for advertising and drafting.  This is not common but is certainly a good resource.  It is not easy to produce as typical auto CAD producers need to take classes to use the software.

10  Experience presenting 

VRIN:  I think this is valuable because I am used to explaining my idea.  This is not common because most inventors may invent but not present their ideas to large groups.  

Growing My Social Capital

1) One person must be a domain expert in your industry. This would be someone who's engaged in the same type of business activity as you would like to be. They may own the same kind of company that you would like to own, or they may be a technical expert who knows a lot about the kind of product or service that you would like to produce.

1) Who they are and what their background is.

I spoke with Anson Cherry regarding this area of expertise.  His background includes research on audio electronics and he also has connections with local sales.

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

This person fits the domain expert spot because of his knowledge of audio technology.

3) A description of how you found the person and contacted the person.

I know Anson from a National Academy of Inventors meeting.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

We are just business friends and offer each other assistance with innovation.

5) How will including this person in your network enhance your ability to exploit an opportunity?

Anson will offer more dynamic views to my ideas potential.

2) One person must be an expert on your market. This would be someone who is targeting your market with similar products services -- or knows a lot about conducting customer research in your area -- or represents a major piece of your market (this might be most applicable with B2B markets).

1) Who they are and what their background is.

I spoke with Anton Hopen a certified Patent Attorney that knows all about the market for my invention.

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

This person fits the market expert spot.  

3) A description of how you found the person and contacted the person.

This person is the President of the invention competition that I won.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

I have a good business relationship with this person and we each have a good understanding of what needs done to succeed in the market.

5) How will including this person in your network enhance your ability to exploit an opportunity?

This person will help me expand to larger companies for possible distribution opportunities.

3) One person must be an important supplier to your industry. This would be someone who is selling products and services to other organizations/firms in your industry. 

1) Who they are and what their background is.

I spoke with Luke Lee.  Luke is an expert retailer for headphones at my local electronics store.  

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

This person fits the supplier section.

3) A description of how you found the person and contacted the person.

I know Luke as a business friend through the invention competition.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

I am just friends with Luke.  He is a good contact to have in the business.

5) How will including this person in your network enhance your ability to exploit an opportunity?

He will offer me opportunities to distribute my product if my invention gets to that phase.

Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?

This experience has helped me get more involved in the community and also it has led me to be even more inspired to pursue making my dream a reality.  Having sources is very important to grow an idea into a final product.  I enjoyed this assignment.  It was also unique in the sense that I met people tailored to my idea.