30A – Final Reflection

1. One of favorite post assignment I remember was doing the elevator pitches. Since I am involved in career events, it was helpful to practice making a smooth speech about my ideas. The posts I did not particularly like were assignments with interviews, as they involved taking large amounts of time to both interviews and discuss in a post. However, I can see that this is inevitable when trying to find consumer needs.
2. After reading through my past posts, I am happy to see how my idea grew to be what it is today. I remember at the beginning of the semester that I needed to create a blog. It was surprising since I had never created a blog before, and never formed one for classwork. But, I am glad that all of my work was all stored within a blog to make reading almost like reading a diary. I can see how my thought process changed and the new tweaks I've kept and deleted.
3. Although I do not see myself as a "good" entrepreneur yet, this course has definitely helped me look at the world in a new manner. I recognize how certain things I took for granted may have derived from an entrepreneur and his/her work to make it into my life. I also learned how people take multiple failures to form a single huge success. Maybe it was the vision to success that makes entrepreneurs persistent to their goals.
4. A recommendation I would make is to always start assignments early. Even reading it (and not starting) helps because some assignments require inspiration. To perform best, make sure to try in your assignments as they build off of each other in future assignments. 

29A – Venture Concept No. 2

Interactive Tech

Opportunity.
Raised as a first-generation in the United States, I grew up with modern facilities and technology. From time to time, I would visit my grandparents during breaks of the school year, Occasionally, I am requested to help them with using a computer to complete certain tasks such as paying bills. Thus, this led to a potential opportunity I have identified. I believe that there are a group of people, most likely seniors and immigrants, who cannot use technology adequately. Technology, especially in this present time is being developed at an extremely fast pace. People who lacked technological knowledge are not able to catch up as quickly and lose interest in learning. Thus, this leads to an unmet need for knowledge. Some are currently meeting these unmet needs by asking other friends or relatives to complete their tasks for them. Some are requesting alternative methods or accommodations in the absence of computers. I identified this opportunity to be of a large scale because this need is knowledge oriented. Some many foreign immigrants and seniors are able to benefit from learning technology after receiving such knowledge. Despite the opportunity being large, the window is not long as newer generations tend to already possess an adequate understanding of using technology.

Innovation.
In response to this opportunity, I propose a teaching service to people (mainly seniors and foreign-language speakers) who want to become more comfortable with using technology. This service would focus on in-person tutoring due to the high amount of troubleshooting that arises when learning technology. Since it is in-person, the tutors will most likely be teaching in the residency of their students. Because transportation is required (usually from the tutor), pricing will be negotiable from different tutors depending on travel distance. However, a general price range would be $30-50 depending on how the tutor values his/her time and distance.

Venture Concept.
I do recognize that there are public and online resources to help one learn about technology. However, not everyone can learn from a one-way delivery. This is similar in how some high school and college students are willing to pay for live tutoring for a test when they can instead study using online resources. The same can be applied to this opportunity. Some people cannot learn from just lectures, but instead, need the interaction to better understand some material. Thus, I believe that this service is unique in how it emphasizes in-person tutoring. I may partner with open online tutoring platforms so that younger generations can link potential customers to this service. I think the main way to identify these customers is for younger relatives or friends to see this problem themselves (in their relatives or friends) and seek out this service. Since tutoring is an on-going basis, the students can choose to have a set schedule or improper appointments.

The Best Resource.
I believe the most important resource I have is the high school/college student tutor base. As students, we understand what methods make it easy to learn new material and how to teach harder materials. Students are also willing to pick up experience regarding teaching others for developing their professional careers. Thus, this service makes it attractive for students to take part in along with the payments they receive.

Next Venture.
Since this opportunity is short-lived as I mentioned earlier, I think my next venture will deal with financial illiteracy among foreigners, especially immigrants. Many immigrants migrate into the U.S from a financially weaker country. Thus, the did not have access to some financial knowledge and are not familiar with financial programs that may benefit them. This may become my next venture after this current one as financial literacy is considered to be complex material. 

The Future.
After launching this business, I am mainly looking to receiving the experience of helping others. Although there is payment involved, the experience of knowing how to teach and the satisfaction of improving people's lives is mainly the purpose of this business. I believe that this opportunity is a good way for one to develop his or her professional communication skills along with teaching. Tutors also participate in the goodwill of making the world more accessible for others. 

2)The feedback I received was mainly positive in my first venture write-up. I think it was important to mention how the venture arose from my background. The next venture I have written may be doable. However, I'm am not sure if I will follow it as my future occupation may be worth committing my time to instead of the next venture. However, I will consider it one day if I feel I need a change in my career. 

3) I did not make many changes to my venture mainly because I think that my venture idea did not change since the first. Although there are imperfections to this venture, I do not believe I can improve it given my current capabilities. However, I have made slight grammatical changes and altered some purposes of certain parts in the write-up. 

28A – Your Exit Strategy

1. As mentioned in my previous posts, my venture of tutoring seniors and foreigners (about technology) does not have a very large window. Due to the increasing norm of technology and globalization, I do no think this venture will be doable about a few decades from now. Because the demand for this may fall too low in the future, I will ultimately discontinue the service.
2. I selected this exit strategy because it may not be profitable to enter this business with such low demand. Even if there were profit, it may not be the best way given other alternatives.
3. This strategy has influenced my overall decision in this concept. Because I am a student, I am currently gaining and developing skills for a higher career. Thus, this business can help students who not only want to earn small revenue to pay for education, but also to gain experience with teaching others. My venture was not intended to be a long commitment from one person, but rather short-term commitments by many individuals who seek to benefit from this venture. 

27A – Reading Reflection No. 3

For my third reading, I chose The Long Tail: Why the Future of Business is Selling Less of More by Chris Anderson

1. I found it very interesting how the author used the image of a tail throughout the book. It seems to me that the tail represents the measure of the popularity of a certain item or idea. For example, if a certain movie title were to be a popular subject, it would have a long tail. This book mainly discusses how the tails among everything has become much smaller; that is to say, there is a larger spread of what is considered popular instead of having a smaller pool of pop culture.
2. This book ties with this current course in how consumer tastes are constantly changing. Especially in the industry that relies on the attention of consumers (maybe music and idol), these industries react to the preferences of consumers. Thus, this goes back to obsessing over your potential customers, as they may soon change and have different needs.
3. One of the biggest surprises I learned from this book was how the internet may have caused this phenomenon. Because the internet exposes us to much more material, people are less likely to become ties to one thing they like, but rather over multiple. Thus, this makes the "tail becoming shorter" phenomenon. This is return has killed certain industries such as radio stars. Although the internet has helped in accessing information, it also has negative consequences on some industries.

26A – Celebrating Failure

1. Just this past semester (Spring 2019), I remember attempting to become more involved with post-graduation activities. These include professional development, career connections, and attending recruiting events. As an economics major the career path after graduation is very broad and I wanted to start on making decisions. However, I found it hard to find the motivation to commit to making a decision. There were many factors, such as intimidation, learning material, and skills, that I felt that I needed to develop to partake in these events.
   
2. After hesitating day after day, I found myself near the end of the semester to only have completed nothing I wanted. I've just finished the classes I was taking and that was it. Over the summer, I've thought about the things I could have done to better motivate myself to find the answer. I decided that I am to pick minimal events and dates that I need to attend/ participate in, even if I needed to force myself to go in Fall 2019. Perhaps it worked? I was able to participate in professional development as well as secure an internship for the upcoming Summer term.
   
3. From this failure, I learned that it can be difficult to try new things that you feel you are not ready for. Especially when you have other people around you who you perceive to be more prepared or skilled, it can be a large deterrent to your confidence. In my failure, I initially felt incapable of observing those around me. However, forcing yourself to do something may just be the one push you need to kick-start a career you wanted. It may not work for all, but if you've failed once will be so bad to fail twice?

25A – What’s Next?

Existing Market

1. A new service that may be offered is financial literacy tutoring. I have seen people who are especially weak in financial literacy due recently moving into the U.S. This phenomenon also occurs due to the complexity of finance. 
2. After talking three of my potential customers in my old market, only one had said they would be interested. The two who are not interested either already have a specialist who suggests plans and does her financial profile or already possesses the knowledge. The interviewee who was interested was a foreign immigrant and has very little knowledge of financial retirement plans. He is interested in learning the different plans that are available to him in the U.S that did not exist in his previous country. 
3. I think that tutoring may be a viable method to implement in this venture. However, it is difficult to do so since a potential customer can just hire a financial advisor to complete the same job. They just may prefer to receive knowledge from a financial advisor than from a student.
   It is possible to service language translation into this service though. Since not all financial advisors speak multiple languages, having a bi-lingual student with a strong background in finance can be attractive. It is much more comforting to learn a complex topic in a language one is familiar with. 

New Market

1. My venture originally targetted the older-aged population. A new market I can attempt to target is the younger population who are in junior high or high school. However, because they most likely possess the basic knowledge of operating computers, the service will stretch to teaching advanced software techniques. Many software are given that can be extremely useful in a professional career. One example I can give is using Microsoft Excel for financial calculations which I was not taught at all and had to learn myself.
2. This venture might create value in the sense of higher human capital. Learning to take full usage of the software that is provided in public schools may help in their future academic classes as well as outside applications.
3. After interviewing two potential customers and asking about their willingness for lessons, both answered that they would not be willing to pay for the service. One claims that these techniques are not required in their current academics, and if it were to help, it would not be worth the time and money. The other student stated that these techniques can be learned easily through online resources she does not require a tutor to learn it herself. 
4. It did not really surprise me that the students I interviewed would be interested in this venture. Money and time constraint was definitely the prime suspect I had before completing the interview. However, I do think that if there were a way to target students who actually want these lessons and request their parents for payment, then this venture may be doable. However, it does not seem that it is worth the effort to trying to reach a market that has a smaller budget constraint.
   This new market does not seem as attractive as my old venture. Despite only interviewing two students, I feel that interviewing more will only result in similar answers. This could be due to the fact that once you are adequate with technology, it is easier to learn the material through online resources. 

24A – Venture Concept No. 1

Interactive Tech

Opportunity.
Raised as a first-generation in the United States, I grew up with modern facilities and technology. From time to time, I would visit my grandparents during breaks of the school year, Occasionally, I am requested to help them with using a computer to complete certain tasks such as paying bills. Thus, this led to a potential opportunity I have identified. I believe that there are a group of people, most likely seniors and immigrants, who cannot use technology adequately. Technology, especially in this present time is being developed at an extremely fast pace. People who lacked technological knowledge are not able to catch up as quickly and lose interest in learning. Thus, this leads to an unmet need for knowledge. Some are currently meeting these unmet needs by asking other friends or relatives to complete their tasks for them. Some are requesting alternative methods or accommodations in the absence of computers. I identified this opportunity to be of a large scale because this need is knowledge oriented. Some many foreign immigrants and seniors are able to benefit from learning technology after receiving such knowledge. Despite the opportunity being large, the window is not long as newer generations tend to already possess an adequate understanding of using technology.

Innovation.
In response to this opportunity, I propose a teaching service to people (mainly seniors and foreign-language speakers) who want to become more comfortable with using technology. This service would focus on in-person tutoring due to the high amount of troubleshooting that arises when learning technology. Since it is in-person, the tutors will most likely be teaching in the residency of their students. This makes sense as tutors aim to teach their students how to use the technology they (the students) own to better complete tasks. Because transportation is required, pricing will be negotiable from different tutors depending on travel distance. However, a general price range would be $30-50 depending on how the tutor values his/her time and distance.

Venture Concept.
I do recognize that there are public and online resources to help one learn about technology. However, not everyone can learn from a one-way delivery. This is similar in how some high school and college students are willing to pay for live tutoring for a test when they can instead study using online resources. The same can be applied to this opportunity. Some people cannot learn from just lectures, but instead, need the interaction to better understand some material. Thus, I believe that this service is unique in how it emphasizes in-person tutoring. I may partner with open online tutoring platforms so that younger generations can link potential customers to this service. I think the main way to identify these customers is for younger relatives or friends to see this problem themselves (in their relatives or friends) and seek out this service. Since tutoring is an on-going basis, the students can choose to have a set schedule or improper appointments.

The Best Resource.
I believe the most important resource I have is the high school/college student tutor base. As students, we understand what methods make it easy to learn new material and how to teach harder materials. Students are also willing to pick up experience regarding teaching others for developing their professional careers. Thus, this service makes it attractive for students to take part in along with the payments they receive.

Next Venture.
Since this opportunity is short-lived as I mentioned earlier, I think my next venture will deal with financial illiteracy among foreigners, especially immigrants. Many immigrants migrate into the U.S from a financially weaker country. Thus, the did not have access to some financial knowledge and are not familiar with financial programs that may benefit them. I am thinking of teaching financial literacy to those who lack this area.

The Future.
After launching this business, I am mainly looking to receiving the experience of helping others. Although there is payment involved, the experience of knowing how to teach o and the satisfaction of improving people's lives is mainly the purpose of this business. I believe that this opportunity is a good way for one to develop his or her professional communication skills along with teaching. It also provides a sense of goodwill to the tutors who take part in this venture.

23A – Your Venture’s Unfair Advantage

(My venture deals with tutoring who want to become more comfortable with technology)

1. Connection with an HR specialist
1. This resource is valuable as it is considered as skilled labor and is learned in academia. I would not consider this resource rare as there are many people who specialize in human resources. It not as easy to imitate this skill as HR is a skill you learn as you keep developing as you move further into the field. I do not think having a connection with an HR specialist is substitutable as it is mainly human knowledge. 
2. Ability to make online ads
1. It is not particularly valuable since there are numerous alternative ways to get my business plans known to others. I do not think this resource is rare nor inimitable as this is something you can learn if you take the time to learn it. This skill is also substitutable as going online is not the only way to make ads. 
3. Patience to Teach
1. This skill is particularly valuable for teaching people, especially when the material is foreign to them. I do not think it is rare as patience is something that can be learned. It can be inimitable for people who cannot wait for students to understand certain material.
4. Technological Knowledge
1. I think this is one of the key resources to possess since this tutoring service revolves around technology, thus making it valuable and non-substitutable. However, it is not rare nor inimitable as this knowledge can be easily accessed and learned from essentially everywhere.
5. Teaching
1. Same as technological skill. this resource is essential to tutoring someone effectively, making it valuable and non-substitutable. It is also a common skill and not inimitable.
6. First-Born Generation
1. I think this particular resource makes me unique from many people. I am able to understand some particular problems that immigrants face regarding technology. Although it is not inimitable, it is not rare as there are many first-born generations across the country.
7. Language Translator
1. Being a first-generation I know how to speak Vietnamese from my parents. This is valuable in the sense of being able to translate fluidly when trying to teach other Vietnamese foreigners. However, the ability to translate is not rare, inimitable, or substitutable. Anyone can take the time to dedicate learning Vietnamese. 
8. Organization
1. Tutoring requires a high amount of organization of both the teaching material and schedule, thus making it valuable. This skill is not particularly rare as you can simply find other people to organize for you, making it not inimitable as well. It may be substituted, though I am not entirely sure how it can be as efficient as if one were to be organized.
9. Small Start-up Fund
1. If I were to present my idea to my family relatives, I may be able to receive a small fund to start up my business. These would most likely pay off advertisements, cost of material, and transportation. It is not particularly valuable, rare, or inimitable as funds can be raised in other methods. However, it is non-substitutable as money is a good means of obtaining necessary resources.
10. Connection with a senior community representative
1. Since my business is emphasized towards seniors, it is valuable to have a social connection with someone who knows my biggest market. It is also substitutable though as there are other means to trying to reach an older audience.

Overall, I find that my own human capital and capabilities are my strongest resources to utilize in this venture. Tutoring is mainly a relationship between the student and teacher, thus it is important to focus on becoming a good teacher to provide better service. 

22A – Elevator Pitch No. 3

https://youtu.be/10gFAS_ZDVM

Almost all of the feedback I received was either positive or neutral. In this third pitch, I've included an anecdotal example of helping my grandparents with paying invoices. I think this is a relatable example of when the use of technology is inevitable. My pitch is mainly the same in content and I tried to further make my pitch smoother in transition.

21A – Reading Reflection No. 2

For this post, I read Inbound Marketing by Brian Halligan.

1. The main theme prevalent throughout the book is maintaining a strong connection with your market or customers. The book lists many techniques and mediums to use in order to build this connection.
2. This book strongly connects with this course because as an entrepreneur you need to understand your customers' needs to begin. In fact, one of our recent assignments involved creating an avatar and trying to deeply understand your customers' lifestyle. The book strongly emphasizes how more understanding of your customers will lead to better satisfaction from both parties.
3. One of the mediums this book discussed to better connect with customers was using social media. If  I were to design an exercise, it would involve creating a brand profile for your product/service. This would include making a username, a summary of what you do/sell, why you decide to sell, etc. 
4. The biggest surprise that came to me was after reading about competition. The book explains how competition is an important aspect to consider daily. There are many ways to measure competition, such as using search engines to see relevant results. As web searches are one of the main ways people will find you, it is important to distinguish yourself from competitors online in order to gain customers.