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30A: Final Reflection

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1)Overall, the experience in this class has been extraordinary. From all the lows and highs, I have learned tremendously to understand the process and dedication it takes to be an entrepreneur. 2)I believe the most formative experiences in the class were the reading reflections. I believe the books I’ve read had a profound influence in my thoughts and life overall. The biography of Elon Musk, How to Fail at Almost Everything and Still Win Big, and Thinking Fast and Slow were books that enable me to have a different perspective in the devotion of entrepreneurs in their ideas. In addition, they helped me understand how the human’s mind operates and that failure is inevitable. Furthermore, I believe my most joyful experience was the assignments where I have to evaluate myself directly or indirectly such as “the secret sauce” or my “venture’s unfair advantage” assignments. It allowed me to analyze my strengths and weaknesses and what makes me differentiate from the rest. Finally, I thin...
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28A: Your Exit Strategy

1)      Hypothetically speaking, my exit strategy, if I continue with this venture, is to sell it in the next five years to someone for a large return if it is successful. It doesn’t necessarily have to be in the next five years, but when I feel that my purpose and trajectory with the company has ended. 2)      I selected this particular exit strategy because I have other interests I want to fulfill and pursue. One of them is the restaurant business which I am really passionate about. In addition, I selected this exit strategy because it would be difficult for the company to succeed due to the fact that it is a costly service. 3)      I don’t think my exit strategy has influenced my concept. In fact, I did not have an exit strategy for my venture. I believe that my concept was based on ideas and analysis to be the most successful it can be. 
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27A: Reading Reflection No.3

Book:   Thinking fast and slow by Daniel Kahneman What was the general theme or argument of the book? ·          This book explains the rational and irrational thinking of human beings. Daniel Kahneman stated that humans have two systems to make decisions: o    System 1: the fast thinking. This kind of thinking is the one we use the most in our daily lives. o    System 2: the slow thinking. This is the analytical, problem solving thinking. System 2 activates when system 1 is unable to provide an answer. In addition, Kahneman explains system 1 is the reason the human being make mistakes because it is based on available evidence and often neglects the absent evidence. Kahneman continues to explain the different judgement errors humans make such as the law of small numbers, anchoring bias, overconfidence, hindsight bias, and others. How did the book, in your opinion, connect with and enhance what you are learni...
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26A: Celebrating failure

1). The most recent failure I’ve had is in my principles of management class (MAN3025). This class which it supposed to be relatively easy has become a challenge for me. The first failure was my first exam where I made a 76. Although it’s not a failing grade, it is a mediocre grade which I do not accept and consider it a failure. I believe I studied quite a lot for that exam and honestly thought I was going to get a better grade. I was disappointed for the result so I decided to change my study strategy. I bought SmokinNotes, did more extra credit, and started studying a little earlier. Little did I know that I would make a 72 on my second exam. I am totally disappointed at these results so for the third and final exam, I will take it up a notch. I will devote my entire week before the exam to this class. Third time’s a charm. 2). I’ve learned that to obtain the result you desire, you have to put in the time and effort it requires. Often times, we’re overconfident in our abilities t...
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25A: What's Next?

Existing Market: Step 1: What is next for this venture in terms of service is expanding to all United States which would facilitate service and bring the cost down. Since there are going to be more people willing to be the deliverers, competition will increase which will allow the venture to reduce prices. In addition, if the venture continues to grow, it could add pharmacists or physical therapists to come to your house. The addition of this extra service will potentially bring prices up. It depends on the market if we would add this service Step 2: Based on the interviews I conducted with Baby Boomers, they mention that we should set prices based on the total purchase, not the time it takes the deliverers to their houses. In addition, one of them mentioned that prices should not be more $20 since he doubts that customers are willing to pay more than that for their medicine to be delivered.   Step 3: For my venture to become successful, it must follow a process with variou...
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24A: Venture COncept No.1

Opportunity: My opportunity is targeted to those individuals who are looking for their medicine to be delivered to their doorstep. This delivery service can be utilized by anybody who might have the unmet need, but it is principally intended to serve Baby Boomers who are aging in immense quantities. I believe there is not a service yet created for medicine to be delivered. Although there are other methods or services for medicine as well as prescriptions to be delivered such as Uber or Lyft, there is not a service specifically in existence, that I’m aware of, that attends to satisfy the unmet need that my opportunity is trying to do. As Baby Boomers continue to age, they will inevitably have health problems that will require them to buy medicine and prescriptions they will need to recover. Some of them will not be able to drive to their pharmacies because of such health problems, old age, or simply because they feel indisposed. I believe my opportunity could serve all Baby Boomers a...
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22: Elevator Pitch No.3

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https://www.youtube.com/watch?v=mJLg1ByfPhw Reflection: This is the same elevator pitch from the last assignment. I believe I could not make any noticeable improvements. I believe I made a lot of gestures to provide dynamic. I was not sitting, did not use a webcam, and everything was memorized. The only defect I would have to fix for my elevator pitch #3 would be my accent to be more clear and understandable which is quite impossible. With this in mind, I believe I vocalized my words perfectly to be understandable for my audience. In addition, I added a price and I did not introduce myself which were the changes I needed to fix. finally, I showed a device (smartphone) to attract attention. 
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