Something that was the most interesting and surprising to me was the section on the Barriers to Entry. I never realized there were so many factors to consider before someone can even put their product into stores. Number 6 was especially interesting to me because if you think about it, you really do have to think about your product placement on the shelves in stores because you want the new product to stand out from the old ones. Price differences, incentives, and intense selling efforts all have to be considered in order to make your product stand out.
Something that confused me about the reading was the section on exit barriers. I would like to know more about the specifics behind exit barriers and how they prevent a company from pulling their product from the shelves.
If I was able to ask two questions to the author, they would be 1) What are some examples of exit barriers and 2) How does the number of substitutes affect how you market your product?
I honestly didn't find anything that I didn't agree with in this reading. Being a Journalism major, I have very little experience in the world of economics. However, I did find this reading to be very easy to understand and it really made sense. I can see now that starting a business and building a strategy takes a lot more planning than I originally thought. The author did a very good job of explaining this process in detail.
Sunday, February 14, 2016
Thursday, February 11, 2016
Idea Napkin No. 1
1) Me
My name is Morgan Johnson and I am a second-year Communications student the University of Florida. Some of my main skills include website writing, graphic design, and professional social media posting. One of my main goals in this world is to make a difference in some way. I am passionate about environmental issues and hope to one day become a communications specialist for an environmental nonprofit. However, I am also passionate about helping people with their stress. Being someone with clinical anxiety, I can definitely understand the pressure that school, work, and other commitments can have on one person. Because there is a surprising lack of services available to people with anxiety, I want to help people understand that they are not alone and there are ways to get better. My idea to create an app for people with anxiety would play into my life by providing me with an opportunity to educate society about this illness as well as help those who have this illness.
2) What am I offering to customers?
My anxiety-relieving app called MyCalm is designed to help those with anxiety manage their panic attacks and build strong connections that will ultimately help them though their illness. Once someone feels as if they are having a panic attack, all they have to do is tap the app and it will immediately bring the user through a 5-step process to calm down. The app also features nature scenes, classical music, and meditation techniques if one is feeling unusually anxious during that time. The app also features a separate social media function that allows people to connect with others who have anxiety and build a support group. My biggest issue with my anxiety is that I feel like the people who are closest to me still don't fully understand anxiety and how to help. Therefore, I want to provide others with a chance to build supportive relationships through MyCalm.
3) Who am I offering it to?
I am offering this app not only to anyone who may have some kind of anxiety or depression disorder, but to anyone who feels as though their life is being ruled by the stress they bear. Everyone is expected to go to school, have a job, build a family, and worry about finances all the while being happy about it. This is not the reality, especially to those who have been diagnosed with an anxiety disorder. Even those customers who do not have this disorder still expressed to me that they would benefit from some kind of stress-relieving app. Essentially, this app is for everyone because everyone experiences stress in everyday life.
4) Why do they care?
Customers will pay to use my app because there really isn't another app out there with the same kind of services that I am providing. Anxiety is one of the most misunderstood mental illnesses in existence, and because of that there has been a surprising lack of services available to people with anxiety who experience panic attacks. MyCalm provides this very opportunity to let people who have an anxiety disorder know that they aren't alone, and help is just a tap away.
5) What are my core competencies?
Even though there are a couple of apps out there that aim to help people relieve stress, MyCalm is created specifically for those who have been diagnosed with some kind of anxiety or depression disorder. No other app has a social media function that allows people with these illnesses to connect with others or a 5-step process that has proven to calm people down in the midst of a panic attack.
I think over all, these elements do fit together pretty well. Because of my background with having an anxiety disorder, I think I am able to connect with people about what they are experiencing. I also know that I can share my best tactics to manage my anxiety with others. Something I may need to work on, however, is expanding my app to cater to those who do not have an anxiety disorder. For example, I may want to include people who are just stressed in general. I can also expand it to include people who knows someone with an anxiety disorder, but may not know much about it and want to learn more. Other than this, I think my intentions and the effects on customers marry very well together because it will provide the assistance that people with anxiety need in order to manage their disorder.
My name is Morgan Johnson and I am a second-year Communications student the University of Florida. Some of my main skills include website writing, graphic design, and professional social media posting. One of my main goals in this world is to make a difference in some way. I am passionate about environmental issues and hope to one day become a communications specialist for an environmental nonprofit. However, I am also passionate about helping people with their stress. Being someone with clinical anxiety, I can definitely understand the pressure that school, work, and other commitments can have on one person. Because there is a surprising lack of services available to people with anxiety, I want to help people understand that they are not alone and there are ways to get better. My idea to create an app for people with anxiety would play into my life by providing me with an opportunity to educate society about this illness as well as help those who have this illness.
2) What am I offering to customers?
My anxiety-relieving app called MyCalm is designed to help those with anxiety manage their panic attacks and build strong connections that will ultimately help them though their illness. Once someone feels as if they are having a panic attack, all they have to do is tap the app and it will immediately bring the user through a 5-step process to calm down. The app also features nature scenes, classical music, and meditation techniques if one is feeling unusually anxious during that time. The app also features a separate social media function that allows people to connect with others who have anxiety and build a support group. My biggest issue with my anxiety is that I feel like the people who are closest to me still don't fully understand anxiety and how to help. Therefore, I want to provide others with a chance to build supportive relationships through MyCalm.
3) Who am I offering it to?
I am offering this app not only to anyone who may have some kind of anxiety or depression disorder, but to anyone who feels as though their life is being ruled by the stress they bear. Everyone is expected to go to school, have a job, build a family, and worry about finances all the while being happy about it. This is not the reality, especially to those who have been diagnosed with an anxiety disorder. Even those customers who do not have this disorder still expressed to me that they would benefit from some kind of stress-relieving app. Essentially, this app is for everyone because everyone experiences stress in everyday life.
4) Why do they care?
Customers will pay to use my app because there really isn't another app out there with the same kind of services that I am providing. Anxiety is one of the most misunderstood mental illnesses in existence, and because of that there has been a surprising lack of services available to people with anxiety who experience panic attacks. MyCalm provides this very opportunity to let people who have an anxiety disorder know that they aren't alone, and help is just a tap away.
5) What are my core competencies?
Even though there are a couple of apps out there that aim to help people relieve stress, MyCalm is created specifically for those who have been diagnosed with some kind of anxiety or depression disorder. No other app has a social media function that allows people with these illnesses to connect with others or a 5-step process that has proven to calm people down in the midst of a panic attack.
I think over all, these elements do fit together pretty well. Because of my background with having an anxiety disorder, I think I am able to connect with people about what they are experiencing. I also know that I can share my best tactics to manage my anxiety with others. Something I may need to work on, however, is expanding my app to cater to those who do not have an anxiety disorder. For example, I may want to include people who are just stressed in general. I can also expand it to include people who knows someone with an anxiety disorder, but may not know much about it and want to learn more. Other than this, I think my intentions and the effects on customers marry very well together because it will provide the assistance that people with anxiety need in order to manage their disorder.
Sunday, February 7, 2016
Week 5 Reading Reflection
The biggest surprise for me in the reading was the text box describing how to be an entrepreneur on eBay. I originally thought in order to make money on eBay you should just sell whatever you have. It turns out that you have to be more specialized and find a reliable product source. You can be very successful on eBay as an entrepreneur, you just have to know how to start.
Something that was confusing to me was the section on investment. I'm not really sure how the whole investing process works, and it would be nice to have that explained.
If I was able to ask the author two questions it would be 1) How does the investing process work and 2) Can you explain further how the growth of sales works in terms of lifestyle ventures?
In the reading, I didn't really find anything that I disagreed with. I don't have any experience with building a business. However, the way the reading explained the process in which someone would have to go through to explore a specific business venture. Your business has to be unique in order to compete in the job market, the investment amount needed has to be considered carefully, and the availability of the product you are provided has to be considered so that your business has security. This reading showed me that there is more to entrepreneurship than ideas and likability. You have to have a strategy in order to be successful in their business venture.
Something that was confusing to me was the section on investment. I'm not really sure how the whole investing process works, and it would be nice to have that explained.
If I was able to ask the author two questions it would be 1) How does the investing process work and 2) Can you explain further how the growth of sales works in terms of lifestyle ventures?
In the reading, I didn't really find anything that I disagreed with. I don't have any experience with building a business. However, the way the reading explained the process in which someone would have to go through to explore a specific business venture. Your business has to be unique in order to compete in the job market, the investment amount needed has to be considered carefully, and the availability of the product you are provided has to be considered so that your business has security. This reading showed me that there is more to entrepreneurship than ideas and likability. You have to have a strategy in order to be successful in their business venture.
Wednesday, February 3, 2016
Elevator Pitch No.1
Being someone who has been diagnosed with anxiety, I can definitely attest to the fact that there is a surprising lack of services out there dedicated to helping people remedy their panic attacks. Anxiety can leave you feeling isolated and depressed a lot of the time, and I think there is a profound lack of understanding of this illness in our society. With my anxiety-relieving app, MyCalm, I am aiming to help people with anxiety manage their panic attacks and provide a support service to allow them to reach out to others and know that we are not alone.
Saturday, January 30, 2016
Week 4 Reading Reflection
The section that was the most interesting and surprising was the four-step process of creativity. I thought it was interesting when the author referred to the creativity process as "structured and focused chaos." I never really thought about creativity that way. You can have all the wild ideas you want, but unless you know how to properly implement them into something real then those opportunities will just float away. Something I really connected with in terms of this process was "The Incubation Process." I often find that I get my best ideas while doing something mindless. If I'm driving or even just going for a run, I find that my mind wanders and my creativity really starts going wild.
Something that confused me in the reading was the definition of appositional relationship. I didn't really understand exactly what that term means in terms of entrepreneurship.
Two questions I would ask the author would be 1) What activities can be done to expand creativity and 2) What are some of the myths associated with left-brain vs. right-brain thinking?
Something that I disagree with would be the author's statement about "right-brain" people vs. "left brain" people. Scientists have proven that this concept isn't exactly true. People tend to use all of the connections in their brain for any kind of thinking, whether it be being analytical or imaginative. People are simply just more analytical or imaginative than others.
Something that confused me in the reading was the definition of appositional relationship. I didn't really understand exactly what that term means in terms of entrepreneurship.
Two questions I would ask the author would be 1) What activities can be done to expand creativity and 2) What are some of the myths associated with left-brain vs. right-brain thinking?
Something that I disagree with would be the author's statement about "right-brain" people vs. "left brain" people. Scientists have proven that this concept isn't exactly true. People tend to use all of the connections in their brain for any kind of thinking, whether it be being analytical or imaginative. People are simply just more analytical or imaginative than others.
Wednesday, January 27, 2016
Top 5 World Problems
The world's top problems from most serious to least serious:
2) Climate change
3) Apathy towards environmental issues
4) The growing world population
5) Being disconnected
Top solutions from most possible to implement to least possible to implement
1) Getting government officials to take action in implementing policies to remedy some of the major factors contributing to climate change.
2) Creating a government service that teaches people about the environment and provides incentives for being environmentally-conscious.
3) Governments providing birth control education to combat the rapid population increase.
4) Creating a government organization that teaches people about different religions, races, and cultures to allow people to become more open-minded.
5) Having official social media-free holidays to combat the increasing disconnectedness of millennials today.
For my list of the world's top problems, I ranked them the way I did because I believe our world's most serious problems are people who define an entire group of people based on the actions of a few and climate change. All over the world, people tend to judge an entire group of people based on the actions of a few extremists. Entire religions, races, and even cultures are discriminated against or even persecuted because of this. I think this is one of the world's most serious problems because if people don't stop filling their hearts with hate, this world isn't going to be a very delightful place. However, I placed my solution to this problem as number 4 on the second list because it is very hard to change people's perceptions of the world and the people in it. I also placed climate change as one of the world's most serious problems because our natural world is in danger of being destroyed. However, I placed my solution to this problem as number 1 on the second list because I think it would be very easy to influence lawmakers to create policies on climate change. If everyone makes a small effort, we can make a big difference.
Sunday, January 24, 2016
Week 3 Reading Reflection
Something that surprised me about the reading was the section on "The Dark Side of Entrepreneurship." I guess as I was going through this class, I didn't really think about the bad part about the defining qualities of an entrepreneur. Being a risk-taker can have a level of irrationality that can be their downfall. For example, an entrepreneur is risking their entire previous career to focus on something that might fail and cost them a job. The risk doesn't just start and end with a career though. It risks the entrepreneur's finances, family and social life, and mental health state. An entrepreneur should take all sides into account when partaking in this journey.
Something that confused me about the reading was the Model of Entrepreneurial Motivation towards the end of the chapter. I was a little confused on this because I couldn't quite pinpoint exactly how the chart flowed in Figure 2.2.
If I was able to ask 2 questions to the author, they would be 1) How can you prevent yourself from getting an entrepreneurial ego, and 2) What would be the best way to network with other businesses?
Something that I disagree with the author about is the fact that the reading puts career risk on the dark side of entrepreneurship. I think that in order to be a successful entrepreneur, you need to put your career on the line. It shows dedication and commitment to what you are trying to do, which improves people's perception of your idea and causes them to be more likely to invest in your company.
Something that confused me about the reading was the Model of Entrepreneurial Motivation towards the end of the chapter. I was a little confused on this because I couldn't quite pinpoint exactly how the chart flowed in Figure 2.2.
If I was able to ask 2 questions to the author, they would be 1) How can you prevent yourself from getting an entrepreneurial ego, and 2) What would be the best way to network with other businesses?
Something that I disagree with the author about is the fact that the reading puts career risk on the dark side of entrepreneurship. I think that in order to be a successful entrepreneur, you need to put your career on the line. It shows dedication and commitment to what you are trying to do, which improves people's perception of your idea and causes them to be more likely to invest in your company.
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