28A - Your Exit Strategy

Your Exit Strategy

1. I think the exit strategy that I plan to make is to sell my business in the future for a large return.

2. I chose this exit strategy because it's an app and technology is always evolving I feel that I will eventually will want to switch my career up and go a different route.

3. I don't think my exit strategy has really influenced any of my decisions throughout the entrepreneurship process mostly because I hadn't given it a lot of thought until now.

27A - Reading Reflection No.3

27A - Reading Reflection No.3

The book I chose to read was The Art of Social Media: Power Tips for Power Users by Guy Kawasaki

1. The general theme of this book is that social media is one of the things that determines your success or failure

2. This book enhanced my learning in ENT3003 by opening my eyes to other ways to use social media in a business aspect. It showed how beneficial it can be for a company.

3. An exercise for this class would be to create a social media platform and post for our business idea.

4. My biggest 'aha' moment in this book was the book in general. I just think it's so interesting how social media has become such a huge aspect in the business world and everyone's daily lives.

26A - Celebrating Failure

Celebrating Failure

1. I failed an exam in another class

2. I learned that the class definitely requires more of my attention and I need to study a lot more for my exams.

3. I don't necessarily view failure negatively. Of course, it's hard and it doesn't feel good, but I feel like failure can almost always teach you something new or push you to try harder next time. This class has helped to change my perspective on failure by showing me you can view failure as a learning moment. I'm probably more likely to take a risk now than I was a few months ago.

25A - What's Next

All I need to do is find someone who can create the app for me.
The three customers agree this should be the next step.
I will have to promote it so that people know about it and can use it.

My market already has a radically different market. Any type of person can own a dog unless they don't like them.
My venture will apply to any person who has a dog.
The people I interviewed didn't have any feedback except that they would love to have a product like this.
My market isn't any different because I already knew it was radically different in general.

24A - Venture Concept No. 1

My idea is actually fairly simple. I just need to create an app that notifies you when another dog is approaching. This way dog walkers don't have to stress about encountering other dogs.

23A - Your Venture's Unfair Advantage

My top resource is that most people don't realize the necessity of my idea unless they have a dog that is reactive to other dogs which minimizes my competition.

22A - Elevator Pitch No. 3

2. All the feedback I received was pretty much the same. Choose a consistent location. However, inside my house during the current COVID-19 circumstances is less than ideal. There's too many people and constant interruptions. Outside is my only option at this time, but in different times I would agree with this feedback.

3. I had limited options to changing the location of my pitch. No place is really ideal at this time. I chose to still walk my dog because although it may be a little distracting it gives the reader a visualization and understanding of how hectic and stressful a walk can be with or without other dogs present which stresses the importance for my business idea.