Venture Concept No. 1

Opportunity

Hi my name is Katelyn Seavey and I am currently living in Gainesville Florida. I have always lived in Florida and the bipolar weather systems of Florida have always given me problems, as well as a lot of other people I know. During most all of the seasons Florida experiences there are many days where the weather changes rapidly as the day goes on. There have been several instances that I woke up realizing it was very chilly outside, went to class, then after I left class I worked up a sweat because the temperature had gone up so much. Being able to dress for the day no matter what the temperature will change to would be a very good thing to have. The temperature will probably never change here within our lifetime, so we may as well find someway to keep comfortable throughout the rest of the day. Now granted I am mainly focusing Florida, but that is only because I spend most of my time in this state. There are several states in the United States that suffer from this same thing. California for instance can go from 50 to 75 degrees within just hours. So the opportunity definitely exists in other parts of the country and I'm sure it stands in other parts of the world too. It is just kind of a thing that happens, and will probably continue to happen until the world ends.

Innovation

My innovation is developing some type of clothing material that will allow you to stay comfortable all day long no matter what the temperatures are (excluding extreme temperatures). If there is a way to make some type of material that will actually help people regulate their temperature throughout the day, we will be able to make it into pretty much every type of clothing imaginable. Another thing to focus on would be the ability to develop these types of material into fashionable clothing items. In the last assignment we did we had to find another something that would go well with our original project and I choose shoes. I think that shoes would be a good edition because those can be made with any simple material. It would benefit the company to make this type of temperature controlled shoe, but I say take it up a notch and make them quick dry. This would make the ultimate shoe for any weather at all what so ever, and pairing it up with the other clothing items would make for the perfect out for any bipolar weathered climate. Depending on the actual product seeing as this is a clothing line, I could see it charging the same amount as Nike does for its stuff.

Venture Concept 

It is very common today for people to want to be ready to go in the shortest amount of time as possible, we have turned into a generation that is always hurrying to do something, very few people have the time to change clothes or do things several times a day. Having an outfit that will allow you to be comfortable and cute all day long is definitely something that will benefit the every growing population of on the move peoples. I think the customers will greatly appreciate this product for the fact it saves time, but also because it is a wonderful thing to actually be comfortable all day long, that is very hard to do and look good while doing it, unheard of. But with this product I should be able to make all of these things happen. My competitors would be basically all clothing companies, because this would be a combination of both work out wear and nice fashionable clothing for an all day good looking comfort that feels like work out wear and could be used as it if you wanted to. It would take some time and effort to get people to try it at first but I don't think the transition will be too difficult for most. This business plan would probably take a lot of people, a few locations, and specialization areas, just to make everything work right. There would also be a need for scientists and people to experiment with the product to make sure it does what we say it does, and they will continue working to create new better things. One thing that may prove difficult would be the distribution of products. The distribution would either need a lot of different stores all over the country or even all over the world, or it would need an expensive website in which people can order online. But we all know a website and online ordering is practically mandatory, but it would be beneficial to have a couple of store spaced about so people can learn about the products and touch them personally to see how they really are.

Important Resource

I think that my venture’s secret sauce would be that this is actually a product that the majority of people in this area would feel the need to own, sure there are people who will think this is dumb and a waste of time, but let’s be real there are people who think that about everything. There will probably never be a single time that everyone is on board with, you just cannot please everyone. I do not believe that anyone would be able to replicate an idea that is so widely needed for everyone, not just ideas that should be used by everyone, but the kind of everyday people stuff.

What’s Next?

As I discussed earlier the next step would be shoes, and why just stop there, after that could be hand bags or really anything that people use now a days. The constant need for branded items is constantly rising as soon as a company begins to do well. So depending on well the company does would determine the things that it makes in the future and what the public demand is.

Finally, what is next for me?

If I actually began this company I would hopefully be in California in five years. It is one of my favorite states and it has a need for this type of clothing as well so I would just have to move myself with my company and hope that it does as well there as it will do in Florida, hoping that everything works out and all. I think my venture will allow me to get there no problem.

Week 11 Reading Reflection

1) One thing I found surprising in the reading was that it is good to have both an innovation and a business strategy, because if you don't they may conflict hindering your business. I never really thought of that before and I think it is pretty cool!

2) One thing I found confusing was that it is good for us to learn from others and what they do, but not to take it to heart.. I thought that was a bit weird but oh well the author is the expert not I.

3) What is your innovation strategy? If you could do anything to change it, what would you change? Also I would want to know how well it worked.

4) I do not disagree with anything the author said, it was a pretty alright read and well they know more than I do so I can't really argue anything.

Amazon Whisperer

1) Honestly, I feel like the only way to make money would be to actually sell the product to people seeing as how it is an article of clothing. I could make money by selling it to other brands, but I don't feel as though that would be as beneficial.

2) Well, I think something that my company could make would be shoes that kind of match th style of the rest of my clothing ideas. These shoes would be "Nike" type sneakers that would help keep your feet warm and cool depending on temperatures and while we are at it may as well make them "quick dry" because honestly it rains a lot here...

3) I believe the shoes will make for the complete Florida proof outfit! Its hot cold rain dry all within four hours, having the proper outfit would benefit Floridians quite a bit. I still think the only way to profit would be to sell, and I think it would create similar customer loyalty similar to that of Nike or Reebok.

4)
Well first of all I hope the picture shows up because my computer did not want to allow the image.. Anyways this is the "Changping Men &Women's Breathable Mesh Running Shoes Slip-on Comfort Quick Dry Sneakers". This shoe is supposed to keep your feet cool and dry quick.

5) People mainly liked this shoe because it was lightweight and easy to run in... none really commented on how quickly it dried or anything like that. People thought the foot hole was too small though and that it didn't go on like a real shoe.

6)  It has this horrible mesh material that I believe it the result of the too small foot hole. I plan to try to make it a thinker material to act more like a shoe but will also have similar qualities and could even be warm in cooler weather.

7) I think this will make my company a full "brand" kind of like. With the new addition of different types of clothing the more the company will make and the fuller the outfit could be.

My Unfair Advantage

1) Determination- I am a very determined person, and if I set my mind to something I will complete my goal, no questions asked. It will allow me to make sure I reach every goal I have for my company. Sure other people may have this, but some may give up along the way.
2) Fashion sense- Though I may not particularly care to dress in the way most everyone else does, I do understand the trends, and how different styles work. This will allow me to make the best possible "thermally controlled" and "attractive and trendy" clothing.
3) Connections- Through the last project I did I realized that I do infact already have my foot in the door with some people. These people, if given the chance would take and use my business idea to help me create a legitimate business. This is something that is more ifficult to come by.
4) Understanding- I have a basic understanding of what is needed to make this product work and how to make it available for the public. I personally think that a lot of people have their own understanding of their own project, but mine is unique to my project.
5) Need- There is an undisputed need for this product in several places around the world, but i am currently focusing on Gainesville. Not every product would be able to say the same.
6) Experience- I have experience in sewing so I would be able to personally make a prototype to check to see how well it works, and would be able to test it personally. That is something that is difficult to do at times, but I have the ability.
7) Willing Participants- I do already know several people in my family as well as friends I have made along the way that would be interested in helping me with this idea if it were to farther. What is even better as that a few of them said they would be willing to work along side me for free until the company became legitimate and that is very rare to find, people who are willing to just risk it all with you.
8) Opportunity- I am located in a city that is very open to new ideas and is always changing things to help better the community so I am in fact lucky to be going to school here.
9) Business Majors in Family- A few of my family members are very involved in stocks and would be more than willing to help me out if i proposed a legitimate business plan to them.
10) Personable- I have worked in retail before so I know how to talk to people and find out what all they want in certain things.

I personally think that my connections are my most valuable resource here. This decision is influenced upon the fact that everything I did list here are either things I have learned from my connections, or are more specific examples of my connections. With the people I know and who they know and so on I believe that if this company was attempted it would in fact succeed because of these connections.

Week 10 Reading Reflection

1) I feel like I knew a good bit of this information but the pro forma statements were a new thing to me.

2) Even though I have heard of net present value, I still do find it to be a complicated term to properly understand.

3) What are two of the most important things to know in this chapter? When viewing all of these things is it better to have a pessimistic or an optimistic outlook on life.

4) I personally did not find anything wrong with this reading, I mean it is a textbook kind of hard to argue with that. Everything here seems pretty right.

Growing My Social Capital

1) Sean Seavey- family member. He has had a lot of jobs in his time and he is mainly a science technical kind of person who very much enjoys fishing all day, so he has been doing research to try to find out how to make the perfect product that he can wear to allow him to be comfortable all day long in the same outfit. I put him in the position of Domain Expert. I found it difficult to find other people who could be even remotely more intelligent in the process than him, luckily I have not used him in any of my other assignments. They are a close relative so i just kind of called them.. He gave me proper "information" on how to create the product, if I promise to include him if I actually start this company. He knows a lot of people in all sorts of places so he could definitely put in a good word for me.

2) Michael Singleton- Sales expert at a store back home, I just called the place of business and asked to speak to him, it was pretty simple. Well I put him in the slot of the important supplier. He is so great with people, he can find out exactly what they need and and will somehow convince them something else is better or he will make sure to have exactly what they need. Like I said pure expert. I have known this individual for a while for we work on the same military base, but yeah. He said he would be willing to help me with anything that related to the customers if I needed it and there really was no exchange, but if I needed his help of course I would employ him. This person would also help me to get a foot in the door because he works for corporate.

3) Jesse Robinson- He is a supply officer in the Navy who has had experience in the sales industry I am looking into. Singleton above introduced me into this person because of their experience in the industry. I also just kind of called this person to talk to them. He just kind of generally have me information and advice and did not want anything in return, but said if i did become part of this company and contact him again and he could help me out.

I feel like with the information that the people gave me here I will be able to understand more about my product to do better interviews and things if need be. I will also have more knowledge on the topic in which I am focusing on. Before hand I was not always sure what I was talking about but now I will have a better understanding.

Elevator Pitch No. 3

Most of the feedback I received on my last pitch was fairly positive and they all encouraged me with my idea. There was one thing that I really did need to work on and that was being comfortable in front of the camera. I did try my best to be comfortable in this video more than the others, but I hope I was convincing enough!

Week 9 Reading Reflection

1) The Marketing Research Question is something that stood out to me because it could help me in the future as well as presently if we have to do anymore interviews with our product we have made.

2) Honestly I was a pinch confused on the different ways of marketing. I guess looking back it explains everything, but even so when and where to use the different ones confuse me a pinch.

3) If you were to summarize this chapter into just a couple sentences what would you say?
 Why do you think that marketing research was useless? Just why bother with it?

4) I guess I mostly agreed with everything except for like the one part of the question i asked above. But for the most part this was a good read I enjoyed it.

My Secret Sauce

1) Okay here are my five things that I think set me apart from the rest:
       1) Well personally I think this may be a flaw, but can also see how it has helped me better my life, and that would be my ability to make everything a better situation. I have a knack for trying my best to turn the worst of times into not as bad things, I suppose I am fairly optimistic.
       2) Another thing would be that I prefer to be a happy excitable person, so I am. I think this may tie into optimism but I am generally happy even when things kind of suck.
       3) I am freakishly dedicated to my major. I am an anthropology major but enjoy knowing every aspect i can possibly know about humans, biologically, historically, genetically, psychologically just everything.
       4) I like to think I am a fun person. I am usually put in charge of coming up with what to do for the day by my friends so i suppose that is a good thing.
      5) And finally I think I am a very caring person I will do anything in my power to help the people I care most about, and will go out of my way to make sure that they are happy and safe.

2) the interviews

  1) Branson- Well I suppose I really am a fun happy person! so that's pretty cool!


2) I honestly feel like Vivian knows me the best in this situation because she kind of said all of the things i said.. And yeah with my studies of people I try my best to reduce peoples' feuds.

3) Elsa is very similar to me so we tend to have similar ways of life. She understands me.

4) He doesn't do well being filmed... but i suppose he captured my happy personality. And that makes me happy.

5) my fifth and final best friend is on the other side of the country but I was able to call him and ask him what his opinions were of me and how i was different from the rest and he said I was a fun loving happy person. When I need to do something I tend to get it done, but I am also spontaneous and will drop everything and just do something that i really want to do and well i suppose these things are very very true.

3) Well I suppose everything that everyone said was fairly true and I cannot really argue it. And well I suppose I cannot really answer any of the other questions here because everything was pretty right and spot on.