Week 8 Reading Reflection

The biggest surprise in this weeks reading was how stocks were discussed in an advantage/disadvantage perspective.  I feel like this is a topic that should be discussed in a manor regarding how they work and what can go wrong.  Honestly, mistakes can be avoided if the proper investing techniques are followed.  None of the reading was confusing to me.  I would ask the author why this perspective on stocks was used and if the author thinks that stocks are a reliable source of income.  On the contrary to how the information was presented I do not disagree with what the author said and have no further questions.

Half-way Reflection

The last two months of this class have been very interesting.  It has been packed with various tasks and random assignments.  There really hasn't been a clear prediction as to what is due each week just like how an entrepreneur often does not know what to expect.  If I were talking to a student for next year, I would recommend to get ahead in this class since it is unpredictable.  That will be a good strategy for success.  I have developed a sense of awareness for this course which has allowed me to persevere through the unexpected.  You have to be open to new ideas.  I felt like giving up on the customer interviews but ended up pulling through and doing them.  I feel like I have developed a tenacious attitude during the past two months.  The different amounts of work each week have mainly contributed to this.  I would reccomend a student to practice regular studying, observations for the entrepreneurial mindset and also paying attention to what makes you an efficient worker.  In addition, I would recommend planning when you are going to work, how to effectively use the skills taught in the class and also to get to know other classmates.  These tips should greatly help.

Free Money

• Where will you go?

I am going to go to the streets to find people who are in need of money.

• What kind of people will you approach?

I am going to approach busy people that are possibly walking somewhere.

• What will you say to get the conversation started?

I will say "hi" and be inviting with my actions.

• What is your plan for the conversation?

I am going to explain that I think I don't need the dollar and that they can use it in a better way than me.

• Out of five attempts, how many dollar bills do you think you will be able to give away. 

I think I can give away all 5.

Here are my two videos of my interactions:

What are your reflections on this exercise? 

It was a good time and I successfully gave away 5 one dollar bills.

Was giving away a dollar easier or harder than you imagined? 

It was just as straightforward as I envisioned.

Were your predictions correct or incorrect? If they were incorrect, why?

My predictions were correct.

 What assumptions did you make about the people you planned to talk to, which were wrong?

I assumed that they would take the dollar and they did, they were also nicer than I expected.

Week 7 Reading Reflection

For this weeks reading, the biggest surprise for me is in regards to one of the biggest mistakes that marketers can commit.  Large problems arise for the marketers when segmentation is used to shed light on an issue or any other purpose in which it is not designed.  I found this surprising how certain tactics can be used to mask others.  I was also slightly confused about the timeline in regards to the topic.  If I could ask the author two questions I would ask how frequently marketers commit these wrongdoings.  Also I would ask what their typical motives are.  I do not disagree with the author.

Elevator Pitch No. 2

1) The pitch. Same as last time, 1-minute long. No Web cams. No sitting. Be dynamic! Upload the video to YouTube (as you do with all of your videos) and post the link.

Here is my new pitch:

Business:  Phat Ideas

Opportunity:  Tangled headphones all across the world

Solution:  A "Recoil Device For Mobile Phone Headsets"

Here is the abstract of my US Patent:

ABSTRACT

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.

2) A reflection on the feedback you received from your last pitch. Describe what stood out to you as important, what feedback surprised you the most, what feedback you think was outright wrong or silly. 

Last time I received really good feedback that supported my idea.  I liked the motivation and support.  However, there was one comment regarding how corded technology is going to "fade out".  This surprised me the most and stood out to me the most.  First of all, I think this is silly and outright wrong because the only reason it will "fade out" is if a good working solution isn't found.  Well, I have the solution so corded technology shouldn't fade out.  Corded technology is also way clearer than cordless and also does not pose any health hazards.

3) What did you change, based on the feedback?

Nothing was changed because the only negative feedback I got was regarding something that is totally false and is not supported by any statistics.

Customer Interviews No. 3

1) Describe your interviewing strategy. What questions do you intend on asking? Who are you going to ask? And so on.

I intend on asking if the customer believes there to be a need for a headset recoil device.  This will further assert if my product is willing to take into marketing.  I am going to ask some bystanders so I get an unbiased answer.

2) Conduct the interviews. As always, 5 interviews, video recorded. 

Done.

3) Reflect on what you learned. What did you learn from the interviews? What surprised you the most? What do you expect to change as an outcome of these interviews?

I learned that I should continue to stage my invention for the marketing process.  I am not too surprised as I have done a lot of research but, I am glad with the results.  I don't really expect much change as I have done this process three times.

Here are my interviews:

Week 6 Reading Reflection

During the reading it was surprising that Michael Porter thinks that a fast growing industry isn't necessarily a profitable one.  This stood out from the rest.  This was also confusing at first but, after some research it became more clear.  Due to the fact that fast growing industries typically make large amounts of money very quickly, it is quite possible that they can't keep up with there growth or poor management sets in.  If I could ask him two questions I would ask why he emphasizes this point foremost and also what made him make the observation.  I could partially disagree in the sense that a lot of companies are online nowadays and are not necessarily resource dependent.  

Idea Napkin No. 1

My name is Ben Anderson and I am a student at the University of Florida.  I am enrolled as an Innovation Academy student as well.  Furthermore, I am an Honorary member of the National Academy of Inventors and have a United States Utility Patent.  My strong skills encompass entrepreneurship and innovation.  I am seeking to create an official business plan to apply to some of my ideas.  My goals are to have my own business in the near future.

My current invention, a Recoil Device for Mobile Phone Headsets will eliminate tangled headphones for any headphone user.  All of my customers seem to have an issue with tangled headphones and the problem seems to be more frequent than ever.  Literally everyone I have interviewed has issues with their headphones.  I seek to fix that.  Customers will pay me because I have a solution that costs just as much as a regular pair of headphones but, is much more effective.  My invention is unique in the sense that it uses dual spools, each of different sizes.  This means that different lengths of headphone cables can be extended.  I feel like my plan is well put together with strength in all areas due to the unique and expansive marketplace.  Here is a video:

Week 5 Reading Reflection

During this weeks reading, something that surprised me the most would be the talk about patents.  I personally have a US Utility Patent so I can relate heavily.  It was neat to read more about this in the book.  Something that confused me was the organization of the global perspectives.  They seemed randomly placed in the text.  If I could ask the author two questions I would ask if he/she has a patent and their opinion on getting a patent.  I think the author was pretty accurate except, he/she was pretty general in regards to the length of protection that a patent offers.  

"Interviewing Customers No.2"

Throughout the entire process I have enjoyed working on my idea and I feel like the interviews I have done, have reinforced it.  Three tips would be to be casual about simple interviews, enjoy the experience and talk loud enough for your voice to be recorded.

Here is my invention:

Elevator Pitch No. 1

Business:  Phat Ideas

Opportunity:  Tangled headphones all across the world

Solution:  A "Recoil Device For Mobile Phone Headsets"

Here is the abstract of my US Patent:

ABSTRACT

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.