30A – Final Reflection

1) 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?

So the same week we were learning about pricing, my mom began selling fabric online. At first, she was just making masks for our family and friends, but she had extra and began selling pieces online. She came to me that particular week because someone was making her offers and she accepted them, not realizing that she would not be making a profit. So I sat down with her and crunched the numbers and I made her take off the offer button. I told her to sell her product for its worth because she is supplying something in high demand. Right now, she is very successful with her small business as I begin my own with earring making.

2) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

I definitely think I have the entrepreneurial mindset and spirit that I did not at the beginning of this course. Quarantine made me take up the hobby of earring making and it quickly became a business as friends and friends of friends wanted pairs of earrings. Despite the rapid change, I was ready and knew what to do because of this class.

3) 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 don't think that everyone who takes this course will become a business owner or CEO of a fortune 500 CEO, but I think the information we learn in this class can be applied in a variety of careers and skill sets if students are willing to think outside the box. Be willing to apply what you learn here to outside the business world and classroom.

My earrings: Gold coins with beads, Emma with pearls, and classical portraits relating to the Trojan War (the Anger of Achilles and the Judgment of Paris).

29A – Venture Concept No. 2

Current microwaves on the market are loud in every way: when you open the door, when you press the buttons, and especially when the timer is finished. This the modern world, microwaves are falling behind terms of user support. More and more young adults, either during college or after, are gaining more and more roommates as they more to bigger cities with smaller spaces.

Because roommates share a living space, they also adjust to accommodate each other. This is difficult when they have different systems and sleeping schedules. Morning and evenings can be tricky if roommates sleep at different hours and this difficulty means that one may have to be quiet when accomplishing tasks. Microwaving a meal without waking your roommate is an almost impossible task if your quarters are close (unless they sleep like a brick). Likewise, a roommate who is using the microwave while you sleep is bothersome when they wake you. This is a common problem on both sides that many young adults would like to solve.

Microwaves are obnoxiously loud, and in some cases, there is a reason like a beeping to call out. But more often than not, its unnecessary as you wait in the kitchen. Our microwave will have the capability of beeping and staying silent-- a feature that will be revolutionary.

Many young adults are moving into their own places, and as such, need new household appliances for their new accommodations. To remain competitive, we will have reasonable and average prices to compete with other brands. Microwaves are as low as about $40 but can reach prices well over $100. As such, it would be important to stay within that range at approximately $60.

We will hold a partnership with an already established brand in order to keep manufacturing costs low, have an established consumer base, and reduce necessary investments.

The three minor elements
First, describe what you think your most important resource will be. A partnership with an established brand will make it difficult for other up and coming microwave innovations to catch up with my product.

Second, what’s next for the venture? Who wouldn't love a matching oven to go with their stylish microwave?

Third, what’s next for you? I will sell my vision to the highest bidder and travel the world with my money. After turning that money into more money in the stock market, I will have the capital to force politicians to make good choices for once.

Provide a summary of the feedback you received from your previous venture concept description. Most of my feedback was positive as my peers congratulated me for my innovative idea and my plan of a partnership. One of the good questions poised to me is how will I make my oven distinctive in the way I did for my microwave so I began thinking.

Describe how you changed your venture concept, based on what you learned from the feedback. Based on the feedback I got about my oven, I decided to make it stand out in two ways: 1) Stylish designs that will match and complement the microwaves and 2) a beeping noise that let's users know that something is in the oven when they set it to preheat. I personally know many people, including myself who have turned the oven on when cooking materials are already inside.