Monday, March 28, 2016

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. 

Sunday, March 27, 2016

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.  

Wednesday, March 23, 2016

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.  

Sunday, March 20, 2016

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.

Week 10 Reading Reflection

During this weeks reading I was surprised to see so many analysis based techniques like a budget sheet.  I felt like the reading was getting geared more towards advice in the field.  This stood out the most to me and was certainly different from my expectations.  None of the reading was confusing to me however.  If I were to ask the author two questions I would ask why the analysis techniques were included and also what they can be used for in our current stage of work.  I would ask these questions because the answers can help guide readers as to how to apply the text.  I don't think that the author said anything wrong.  I also don't disagree with the author. 

Wednesday, March 16, 2016

Elevator Pitch No. 3

1) The pitch. 


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 was happy to receive all positive feedback.  It seems like there is a real interest in my idea.  One minor point was to increase the dynamics of my tone.  This surprised me the most, stood out as the most important thing thus I worked on my tone and implemented it into this newer pitch.  Also, there was an excessively silly comment completely unrelated to my work that I found just plain rude.  A person essentially said they didn't like the pitch but, offered no real constructive criticism.  


3) What did you change, based on the feedback?
I changed my tone to be more confident.

Sunday, March 13, 2016

My Secret Sauce

1) Describe five ways in which you think you have human capital that is truly unique. What is it about you, exactly, that makes you different? Write this up in a detailed list. 
1.  First I think that I have a very innovative mindset that sets me apart from the rest.  I am able to look at situations differently and always see things from another persons perspective.  I think this comes in handy with understanding the dynamics of a situation.
2.  Second, I believe that I am a nice person and at least always try to give people the benefit of the doubt if something negative transpires.  I like to view everyone as a friend and give opportunity.
3.  Third, I also think I am a super optimistic person.  I really can't think of many things that I don't like.  I really like to just live life and enjoy the world.
4.  Fourth, I have really liked and respected the planet.  Traveling is something that I desire to do and currently enjoy.  I feel like I can connect with the amazing experience the world has to offer.  
5.  Last, I also think that I can adapt very easily and learn new tasks quickly.  I have been able to quickly pickup new skill sets in very short periods of time.  

2) Interview the five people who know you the best. Ask them what they think makes you different -- remember, focus on your knowledge, skills, abilities, emotions -- in other words, your human capital. Try to stay away from discussing your other types of capital (such as who you know). Record each interview. In your blog post, please post each interview, as well as a two-three sentence summary of each interview, explaining what your key takeaways are.


In each interview, my key takeaways were the similarities that I found in comparison to theirs.  I feel like it was accurate information and that each interview provided a good look at my capital.  I wrote this as one statement because it is the same for each interview.

3) Reflect on the differences. How do you see yourself, and how do others see you? Are there differences in how you assess yourself compared to others? What do you think causes these differences? Do you think your interviewees are correct about you? Finally, going back to your list from part 1, would you make any corrections to the list? How? 

Overall, I would agree with the interviews.  So there aren't many differences between what I think and what the interviews say.  I would not make any corrections to the list, I think it is fairly accurate.



Week 9 Reading Reflection

The biggest surprise for me in the reading was the use of the audience.  A lot of the theory on marketing logic bounced off of the possible reaction from a given audience.  This surprised me as it isn't a proven study.  None of the reading this time was confusing to me.  If I could ask the author two questions I would ask what the authors opinion is on limited case studies regarding audiences.  Also I would ask if the author thinks of case studies as effective in the sphere of marketing.  I do not disagree with what the author said though.  I also did't find any of the text confusing.

Wednesday, March 9, 2016

Idea Napkin No. 2

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.  This invention should cost the same as a regular headset (estimated $30).  In addition, it includes nice durable headphones.  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:



Feedback: Please summarize five main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin. 

I added answers to the questions that were raised by my last idea napkin thus this one addresses the raised questions.  Not much feedback was given regarding advice so I don't have five points but, I was asked about price which I included above.  Also, I was asked about the thickness of the cable which does not apply since my invention already includes a working durable headset so you don't have to match up cable thickness.  I incorporated that info as well.