Assignment 30A

Final Reflection 

• My most formative experience would have to be when I accidentally submitted the wrong URL for the first three assignments and did not receive credit for them. I had to consistently strive to complete every assignment to come back from this error.
• I will remember my first post that included the idea for my wheelchair ramp.I will remember the identification of this opportunity for years to come.
• I am proud of myself for accomplishing my venture concept. I believe that I touched all of my bases and established solid ground for my company to grow from. 
• At the end of this course, I see myself as an entrepreneur. I believe that with the necessary tenacity, I could start this business and see it flourish. 
• I think that I have come closer to thinking in an entrepreneurial mindset. 
• For future students, I would recommend setting goals and keeping track of your assignments! Pace yourself each week and watch the lecture videos, the quizzes come directly from watching them! Students should challenge themselves to think about problems in a creative way to foster the entrepreneurial mindset. 

Assignment 29A

Venture Concept No. 2

 Opportunity: 

• 3.6 million Americans use wheelchairs to assist with mobility but there is a serious lack of wheelchair accommodations(specifically ramps) among businesses.
• The forces behind the lack of wheelchair ramps is a lack of knowledge about the needs of those in wheelchairs. 
• Another force is the lack of care of some business owners. Many would rather turn away customers in wheelchairs rather than investing in ramps to accommodate them. 
• The market is extensive demographically and geographically. There is a wide range of businesses that attract different demographics and that are located all over the nation. The one thing these businesses have in common is their lack of wheelchair accommodations.
• There are many businesses that have proper wheelchair ramps, but there are also many that are not satisfying this need. Throughout interviews with business owners, I have discovered that business owners that have wheelchair ramps are not loyal to the companies they buy their ramps from. Overall, many business owners were interested in the design and function of the ramp that I strive to create.
• This opportunity is relatively large, there is a large population of Americans that use wheelchair ramps. 
• This window of opportunity will be open for as long as people utilize wheelchairs, which is indefinitely. 

Innovation: 

• I have developed a wheelchair ramp that can easily be hidden underneath carpet or tile. It also functions as a conveyor belt. 
• This will help wheelchair users feel more independent because they no longer have to rely on others to help them enter businesses.
• After a patron in a wheelchair presses a button, the wheelchair ramp will slowly extend out to them and they will wheel themselves onto the ramp. 
• The ramp will slowly raise a railing behind them that will be extensively safely checked. The ramp will slowly lift them into the business. 
• This innovation will be marketed to businesses that lack wheelchair ramps and will cost between $200 and $400 depending on the size of the ramp. 

Venture Concept:

• This wheelchair ramp will be an alternative to large or inconvenient wheelchair ramps. Businesses will therefore be more driven to install wheelchair ramps in their businesses to accommodate wheelchair users. 
• Customers will buy my innovation because it is convenient and will not damage their business. This product will also attract more customers, specifically those in wheelchairs. 
• Getting customers with wheelchair ramps to switch to my product may or may not be difficult. The innovation of my product could potentially convince them to switch and the price could as well. 
• Competitors are stores like Walgreen's or Lowe's. These stores have a vulnerability of not having a ramp that works like a conveyor belt. They also don't have a ramp that is small and easy to store. 
• Packaging, price points, distribution, and customer support play a large role in this company. 
• To support the ongoing production of this product, many employees and managers would be hired to run a distribution center to sell this product to customers.

Three Minor Concepts: 

• My venture's unfair advantage is my passion. I have a passion for helping others and this is where this business idea stemmed from. I want to make this world a better place and I believe that this ramp has the potential to help many people.
• I would love to tackle the problem of lack of handicapped bathrooms. In most restrooms in restaurants, there is one handicapped stall and people who are not handicapped often use this stall. I would love to develop a way to stop non-handicapped individuals from using this handicapped stall. 
• If I launched this business idea, I would want to have this product thriving in the next five years. As an entrepreneur, I would want to continue helping the handicapped community have more accommodations while also pursuing a career in nursing. 

2.) Description of Feedback:

• I received an overwhelming amount of positive feedback that specified that I included a great amount of detail in my description.

3.) Changes:

• I added even more details into the parts of my post that I thought needed it and I added more details from my minor concepts. 

4.)

 

Assignment 28A

Your Exit Strategy

1.) My plan: I intend to keep my business and pursue marketing this innovative technology. I would like to launch this business and have a partner that is more intuitive when it comes to business. It would be great if one day my children were interested in taking over this business, it has great potential for helping others.
2.) Why I have selected this strategy: I believe in this business and I would have to find someone who is equally as passionate about this issue as I am for me to sell. I want this wheelchair ramp to make an impact in the world and I believe that if I am the person leading this movement, that it can succeed.
3.) My exit strategy's influence: I think that is why I have been able to complete assignments in such detail, because I knew that I was interested in pursuing this concept further. I believe that my exit strategy has influenced the identification of my concept because I knew that I had to pick an issue that I was passionate about and that I could see myself genuinely pursuing after the completion of this course.

Assignment 27A

Reading Reflection No. 3

Thinking Fast and Slow by Daniel Kahneman

• 1.) What was the general theme or argument of the book? Kahneman describes how the two systems in the brain are constantly fighting over control of behavior and actions. System One controls automatic and impulsive decisions while System Two controls conscious and considerate decisions. He also introduces the many ways that this constant battle leads to errors in memory and judgement. He concludes with how you can minimize these errors. 
• 2.) How did the book connect with and enhance what I am learning in ENT3003? For many assignments in this course, a great deal of thinking is required. Surface level evaluations are not enough to answer the questions that we are tasked with. Through learning about the two systems in my brain that are always fighting over control, I can better understand how this could cause errors in my judgement. After learning about this, I was able to slow down my thinking process and answer assignment questions in more detail throughout this course. My favorite quote from the book reads "Nothing in life is as important as you think it is, while you are thinking about it". This quote stuck out to me because in life and throughout this course, the swirling tornado of thoughts in my head seemed important while I was thinking about them. But as I started thinking about other things, the importance of previous thoughts dwindled. 
• 3.) If I had to design an exercise for this class, based on the book I read, what would this exercise involve? I would give the students a math problem and see how they answer it. Those that answered quickly most likely used System One to draw a quick conclusion. Those that took longer to answer most likely used System Two to answer. I would then explain to the students the difference between the two systems of the brain and how they affected their decision making. After explaining this, I would suggest a few strategies for knowing when to use System One and when to use System Two. 
• 4.) What was my biggest surprise or 'aha' moment while reading the book? What did I learn that differed from expectations? My biggest 'aha' moment was when I connected my way of thinking to this dual process way of thinking illustrated in this book. Often, when faced with a math problem, I reach an answer relatively quickly, but when I check my work later, I find that I got the wrong answer. My System One thought that it could handle problem but it needed System Two to help answer the question thoroughly. I thought that this book was just going to mention tips on how to slow down your brain. But instead, Kahneman described the background of our thinking habits and patterns to give the reader a better understanding of why we think and behave the way we do. 

Assignment 26A

Celebrating Failure

1.) A time that I failed this semester: This semester, I retook Introductory Chemistry because I had to drop it during the summer semester because I was struggling. I got a seventy-four on my first exam but I got a sixty on my second. This was a bit of a failure for me. After receiving this disappointing score, I swore to myself that I would do better on my last exam.
2.) What I learned: I learned that you have to consistently put in the work and study in order to succeed in a chemistry course. The coursework is rigorous, but it is only preparing me to do well on the final and to soar in additional science courses.
3.) Reflection: Failure is probably one of the most difficult emotions to handle. I hate feeling like I let anyone down or disappointed them in any way. Failure often makes me feel like I have let others down, but the worst part is feeling like I let myself down. I tend to be embarrassed and take failure to heart. When I am forced with dealing with rough emotions, I often cry. When I fail, I tend to have a catharsis and cry to make myself feel better. I used to think that failure was abnormal, but this class and college in general has helped me realize that failure is very normal. Throughout my life, I am going to fail constantly. The failure itself is disappointing, but it's all about how you rebound and continue to grow after that failure.

Assignment 25A

What's Next?

1.) What I think is next: The next step in furthering my business venture would be researching the cost of making this product and a facility.Testing a prototype of my wheelchair ramp is another crucial step as well. Also, talking to more business owners about their likelihood of purchasing my product would be helpful.
2.) Existing market interviews: I interviewed a local business owner, restaurant owner, and movie theater owner. They all agreed that my product sounds extremely innovative and that they would consider purchasing one for their business.They all agreed that I should be testing a prototype and researching a production facility. One business owner added that customers might expect other products like canes or walkers with an innovative twist.
3.) Path for the future: For growth to happen in my existing market, I need to target businesses that have wheelchair ramps and those that do not. By targeting both kinds of businesses, I have a larger target market and more opportunities for growth. I also need to design a working prototype and begin testing it for faults. Once this product is tested, I can begin making and selling the product. I would need to hire employees and find a production facility.
4.) New market: A radically different market to target would be rental apartments and rental homes. Installing wheelchair ramps in these homes could be extremely helpful to renters in wheelchairs.
5.) Creating value: This venture would create value because people in wheelchairs can now live in homes with stairs or a front porch because of the addition of this wheelchair ramp. The apartment communities or rental home companies can now rent to more individuals with this ramp installed.
6.) New market interviews: I interviewed two individuals who own apartment communities. They agreed that being able to have these ramps in their homes would increase their rental options because they can now accommodate those in wheelchairs. They both thought that I should market my product with the fact that my product can be hidden, stored easily, and works like a conveyor belt.
7.) Reflection: This market is not quite as attractive as my existing market. My aim is for businesses to accommodate those in wheelchairs. Apartments and homes are also extremely valuable markets to sell my product. The praise for my product was surprising. I was expecting these owners to be turned off by the investment required for my product. They were extremely receptive and would buy my product if I decided to move forward with this idea.

Assignment 24A

Venture Concept No. 1

Opportunity: 

• 3.6 million Americans use wheelchairs to assist with mobility but there is a serious lack of wheelchair accommodations(specifically ramps) among businesses.
• The forces behind the lack of wheelchair ramps is a lack of knowledge about the needs of those in wheelchairs. 
• Another force is the lack of care of some business owners. Many would rather turn away customers in wheelchairs rather than investing in ramps to accommodate them. 
• The market is extensive demographically and geographically. There is a wide range of businesses that attract different demographics and that are located all over the nation. The one thing these businesses have in common is their lack of wheelchair accommodations.
• There are many businesses that have proper wheelchair ramps, but there are also many that are not satisfying this need. Throughout interviews with business owners, I have discovered that business owners that have wheelchair ramps are not loyal to the companies they buy their ramps from. Overall, many business owners were interested in the design and function of the ramp that I strive to create.
• This opportunity is relatively large, there is a large population of Americans that use wheelchair ramps. 
• This window of opportunity will be open for as long as people utilize wheelchairs, which is indefinitely. 

Innovation: 

• I have developed a wheelchair ramp that can easily be hidden underneath carpet or tile. It also functions as a conveyor belt. 
• This will help wheelchair users feel more independent because they no longer have to rely on others to help them enter businesses.
• After a patron in a wheelchair presses a button, the wheelchair ramp will slowly extend out to them and they will wheel themselves onto the ramp. 
• The ramp will slowly raise a railing behind them that will be extensively safely checked. The ramp will slowly lift them into the business. 
• This innovation will be marketed to businesses that lack wheelchair ramps and will cost between $200 and $400 depending on the size of the ramp. 

Venture Concept:

• This wheelchair ramp will be an alternative to large or inconvenient wheelchair ramps. Businesses will therefore be more driven to install wheelchair ramps in their businesses to accommodate wheelchair users. 
• Customers will buy my innovation because it is convenient and will not damage their business. This product will also attract more customers, specifically those in wheelchairs. 
• Getting customers with wheelchair ramps to switch to my product may or may not be difficult. The innovation of my product could potentially convince them to switch and the price could as well. 
• Competitors are stores like Walgreen's or Lowe's. These stores have a vulnerability of not having a ramp that works like a conveyor belt. They also don't have a ramp that is small and easy to store. 
• Packaging, price points, distribution, and customer support play a large role in this company. 
• To support the ongoing production of this product, many employees and managers would be hired to run a distribution center to sell this product to customers.

Three Minor Concepts: 

• My venture's unfair advantage is my passion. I have a passion for helping others and this is where this business idea stemmed from. I want to make this world a better place and I believe that this ramp has the potential to help many people.
• I would love to tackle the problem of lack of handicapped bathrooms. In most restrooms in restaurants, there is one handicapped stall and people who are not handicapped often use this stall. I would love to develop a way to stop non-handicapped individuals from using this handicapped stall. 
• If I launched this business idea, I would want to have this product thriving in the next five years. As an entrepreneur, I would want to continue helping the handicapped community have more accommodations while also pursuing a career in nursing.