Entrepreneurship 10 page

Being an Entrepreneur is to be objective of creating something novel and useful based on their own ideas and must be different and useful ideas can be related. These ideas could be developing better communications, and other technological advances in the market and building new companies. The main goal is to build a long-term value for the company to attract investment and have opportunities. Concentrate on long-term value and wealth of the company. The entrepreneur to have freedom to make own decision and be own boss. They are motivated by controlling their work and pursuing their dreams with it. Sometimes freedom has set backs like less structural environment need to have more self-discipline to accomplish tasks. Passion and Courage are needed, and the Entrepreneurs need to live and breath their business as need to have full faith in it and the power to push the company in the right direction. The Good Business Plan needs to help the analyze the business to see if it makes sense and how it will be gaining investments and funding for it. It is important to keep the business plan short and direct so it is easier for the Investors to understand and communicate it like your story. The company description it’s the vision and its goals. Market Size- What are the potential audiences that the company will reach. Technology Description- The new technological idea which is being used to for the company. Competition- It is very important to be aware of them and where does the product fit in the market. Sales/Revenue generation explanation of how to generate revenue and make it profitable to run the company. Management- It is important to keep everything balanced and everyone on the same page.

Idea reflection Week 2

I got reflections on my business ideas reflection from other students and friends. The activity was an eye opener and the opportunity to the ideas from different angles and different approach. The two ideas were preferred was the car wash and virtually reality meeting. Out of the three ideas the most liked one was the app development for the car washes. There are very few car washes and it play a big role with this as it will give more opportunity for car washes to be able to get more opportunity to get more customer base for them. I need to find a better way to approach all the car washes what generate the income generator. This will be car wash app that will give more coupons or different special based on the location of the car and the customers will be able to buy monthly car washing services threw these app by just going to the car wash and scanning the bar code. Also add special like 1 car wash free after 9 car washes it will generate more customers and repeat customers. This can also open doors for doing business with different car dealers and car wash store app where the customers can pay threw the app. Also develop a gaming section in the app where the customer can play car washing game. The other ideas like virtual reality meeting or different ideas it can help the greatly in the areas of like emergency or other areas like concert and other areas like video calling. This could help in many areas and could be the next big thing. But it is hard to achieve as it needs to have more advance virtually equipment. The third choice of the review checker on different services or have double review like uber or lift was a good idea and the meeting able to see that the checker wasn’t a good idea so I am thinking about able to check and double review system.

3 Ideas- TINST 475

I took a course that involved us taking a everyday work and find the struggle while doing this activity. It was hard to choose from the everyday activities and I thought of car washing and the problem it involves with it. Washing a car is a very important and finding the right one is a struggle sometimes as there are almost no reviews and no price point on them on the internet. The solution of the problem was coming up with an app that will help the customer with the location, the reviews about the car wash based on their choice, the pricing of the car wash and most important the any coupons or discounts of the car wash. It will one platform where it will work with most of the car wash companies and give them coupons based on that and it make almost 10% worth the coupon from the car wash and get that money back as revenue for the app. It is a good business model because it will benefit both the car wash and the app. Virtual reality could be one of the biggest thing the future as of we are going right now. I would like to develop an app where you could do a virtual reality video call to friends in which the person can really see and feel the other person or the person they car calling. It would give the person the full feature and will fix other issues. It would be great if the person who called to get a full highlighted person kind of 3-D projected view so it would be easier to see and feel the person. I saw this Tupac rapper projected view, the projected and it would be next level. There should be corporation that overlooks the reviews of google or other platforms and confirms that the reviews are not biased and free form them.

Convergence

Convergence, is combining two or more to make a phenomena. Converge is first introduced in the 1990s used by some companies work together to make better product and work efficient. Cell phone is a great example of convergence product, for example- Sony phone, runs on android software.
Microsoft and Apple were the only companies who were using converge in the same building. Apple was dying and Microsoft was its rival. Microsoft was known as the one of the strongest companies and was controlling everything and gets done whatever they want. The government step in to tell Microsoft that they have to make a different department for its products. Because of this, Microsoft invested  $150 million dollars, to keep Apple alive and Microsoft did not have to make another department.

What does a community and does tech provide

                  Technological community, it is a community in the virtual world, online community. This community is used in many different ways. We can communicate with others, share our thoughts, vacation pictures, find other friends and highlights with others things. We can do it just like real life.  There are many different communities like Facebook, Twitter, Instagram, UW Canvas. All these is like a virtual community, we can message anyone at any time, block the people we don't like. 

                 Just like the in real life, ignore the people and don't talk to them. Facebook and Twitter are the biggest social networking websites with user all over the world. These company are worth billions and billions of dollars. People get very addicted to these sites and people are always on their phones. Today, people like to text more than talk on their phones. 

Presentation- Facebook by Mahumaad

                  Facebook was founded in 2004. Most popular social networking site and have overtaken all its competition. It has over 1 billion users across the globe. It got popular during 2009 and became one of the strongest companies right now. It connects people, share their thoughts, pictures and memories with no cost, just free. Now, we can even call with the messenger, without any phone number. 

                  In Brazil, three friends made Facegloria which is like the cleaner version of Facebook for the Christians or other religious use. Over 600 bad words have been blocked from it. You can even find your soul mate through Facebook but there are no guarantee about it. Facebook has some disadvantages like- too addictive, Have no life, being jealous and trying to show off too much.

                 Overall, it was an amazing and the funniest presentation. I really enjoyed listening to the Positive and Negative effects of Facebook. 

Startup.com movie

Startup.com is a documentary movie based on a true story during the late 1990s and early 2000s. This movie reminded me of 2008 recession where people thought they were balling (rich) and suddenly the economy crashed and people lost everything. This company named Govworks is a great example for the Dot.com to Dot.bomb to Dot and Pyramid Company. In 1998, Kaleil Isaza Tuzman and Tom Herman get together with a faith of making online services where you can pay the parking tickets online and save time-money. They all quit their jobs and started working together. Day by day the company started growing, hiring more people.

The company is getting famous and getting a lot of attention from media. Tuzman also met up with President Bill Clinton. People started buying their shares, I would of too. He is having meetings with the President, obviously he is legit and going to make a lot of money. After getting popular, people got interested and bought the shares. Became the more than 60 million dollars before even doing anything, before the actual website was made.

They were living the celebrity life with the bling, they were making a lot of money and having a lot of fun- big cars, being on the media all the time. They get some competition from other companies who were doing the same thing. Tuzman lets their competitors to see their workplace and plans with just being overconfident and stupid. They paid a lot of money to the web-designers but the website did not achieve the expectations. The competitor’s website was better. It was interesting Turzman with two sides, he fired his friend Tom but on his face he acted like he didn’t have anything to do with it.

In 2000, the company went bankrupted total 0 and everything ended.