30A – Final Reflection

1) I think the most drudgery moments was when I first opening the class syllabus and saw how many assignments were due at the same day and at the same time. But then once getting into the class, they were really not bad at all and were quite interesting. I think the most dreaded moments for me were catching up on lectures I fell behind on, because I knew a detailed quiz was coming up. I think the fun moments were doing some of the cooler assignments and getting to interview people and come up with a business. I have never gotten to do this before so I enjoyed it. 

2) My most formative experience was creating my own business. I think going through the process and getting feedback was very knowledgable and allowed us to grow and think like entrepreneurs. I think the experience I'll remember most was the class lectures. There was also a story being told and the class was very enlightening to watch. I think that the most joyous experience is completing this last assignment! Getting through the whole year strong and with a really good grade was what I am most proud of. 

3) As I've gone through these assignments and created my own business idea, I think that my mindset is more entrepreneurial but do not fully see myself as an entrepreneur. I think that would come with real life experiences, that I would be interested to try out. 

4) If you were to take this class, make a schedule! Plan when to watch lectures and when to do assignments or you might catch yourself falling behind. Also, if you create time to do the assignments you will get more out of them as you are actually thinking about the concepts and producing quality work. With that being said, go back on your blog posts and look at the feedback you receive. Your fellow students leave really helpful comments that can be used to better your next assignments. Keep a positive mindset and don't stress over the course, if you stay organized and ahead of the game you will not have a problem succeeding in the class.

29A – Venture Concept No. 2

The Pet Spa and Hotel

Opportunity-

My opportunity is to take pet boarding and care to the next level. I am seeking to make pet care and boarding more luxurious in order to alleviate stress and anxiety that pets get while being boarded. The need is really a concern when vet offices are not spacious enough to hold all of these pets, and they are just not a sufficient place to keep your beloved pets. 

My potential customers are any pet owners that would like to drop off pets for vacation, workers that drop off their pets to stay and play for a day or elderly pet owners who need pet services. 

The forces that draw this opportunity is that there is not an ideal location to keep pets overnight without causing too much stress or anxiety on them. 

The market is open for any age person that owns a pet so I think this makes the opportunity quite large. 

Currently, many pet owners rely on family and friends, or the vets office to take care of their pets when needed. 

I believe that the window of opportunity will be as long as people still own pets. As far as I know that is a very long time. 

Innovation-

In my new service, it is a luxury facility that is full of pet services. My service is an all inclusive Pet Spa and Hotel.  It includes grooming services, a bakery, play rooms, and much more. The goal is to allow your pets to interact with others so the time away from family is less stressful. It is including overnight stays, pet playrooms, grooming services, and a pet bakery. There would be different packages of services debating on how many nights your pet is staying, if you wanted to add grooming, and if you wanted treats from the bakery. An average rate per night would probably cost around $40-50. Additional services would be added as a one time fee on top of the rate. 

Venture Concept-

I think the reasons to switching over to my business service would be to overall benefit their pets. I don't think that it will be very hard for customers to switch as the pricing is very similar to a vets office boarding, and this is considered a luxury service. Often times, during busy travel seasons, vets offices will have to up charge for the high demand of boarding needed. I plan to have plenty and adequate space for these pets at all times. I think that if pet owners are educated on how much stress and anxiety is brought on pets during these times it will encourage them to bring them to my business.

The only competitor I have right now would be the vet offices. They offer pet boarding, but their weaknesses are lack of space and comfortability for pets. I think this is what sets my business above theirs and is more valuable.

The customer experience and price are major points is my business concept. Overall, we are trying to make a smooth transition of dropping your pets off for vacation or work. We want the customers to feel comfortable leaving their pet there. The pets should be excited to play with other animals and not be stressed as their owners go away. The price for this experience is unmatchable. The vets office will leave the pets in a cold cage where they get little interaction but for the same price.

I think the organization would be in segments of the many services of my business. I think hiring people specifically for grooming or specifically for cleaning would keep the business running smoothly as every one would have a specific job. I think in the busier travel seasons it would be all hands on deck to ensure that all standards are met even during busy times.

Three Minor Elements-

First, my most important resource is that I am a student studying the fundamentals of business administration. I am taking classes such as economics, accounting and entrepreneurship that will help me run a successful business and make a profit.

Second, I think what would be next for the venture would be to open more locations of The Pet Spa and Hotel. I think more locations would be more advertising as well as convenience for customers further away.

Third, I see myself continuing to run this business. If it is successful I would hope to be managing multiple Pet Spa and Hotel's around the area. I want to be as profitable as possible but still keeping the customers and the business standards first. I see myself continuing to run this business as I am really passionate about it.

28A – Your Exit Strategy

1)  In my future I would see my self continuing the business for as long as possible. Maybe when I retire I would allow my children to decide if they wanted to take over the business or choose their own career path. If they don't want to take over the business, I would most likely sell the facility. 

2) I chose this strategy as I think that starting a business takes a good amount of work, and it would be hard to start all over again once the business is stable. I wouldn't want to take another risk and start something new. I wouldn't want to sell it in case it in case my children would want it, but would not force them to take over. 

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

I think that my business will always be needed, as people will work and travel and need pet care. I think that staying open and actually going through with my venture by opening more locations would only be done by myself and so I would choose to keep the business for as long as possible. I think running the business myself with not allow the standards and customer service to fall.

27A – Reading Reflection No. 3

1) The book "How To Fail At Almost Everything And Still Win Big," Scott Adams shares his experiences that he went in his life as he learned to take care of himself as he went through failures and losses. He went from many loses to eventually being successful and winning big. He did this by assessing his life around systems instead of goals. He explained how these systems were more in the future and more specific, but to leave room for adjustment and disregard time. He also shares how if you are comfortable taking risks to sample jobs. You will find out your fears, strengths, and preferences until you find one that is right for you. The next thing Adams explains is to find your energy not your passion. Creating a balance of activity, space and time with help create schedule and keep you motivated. He states if you manage the energy well, you can fail many times and still win big.

2) In my opinion, this book relates to the class in a couple ways. In the beginning of the semester, we talked about what makes up an entrepreneur. One of the debated characteristics was that they are risk takers. I think this book connects to this as Scott Adams says he took risks in other jobs to try to find what was best for him. I also think that this book relates to the last assignment (26), where we talked about our failures. This book shows a great example of someone who failed multiple times but still won at the end of everything.

3) I think if there were an assigned based on this boom, it would be similar to assignment 26 where we explained our failures and what we learned about it. I would maybe tie it into our business ideas and create a perfect schedule to make sure you have the right energy and motivation.

4) I think the 'aha' moment was when he explained to find our energy and not our passion. If you have energy and are motivated in the job that stuck with you, you should not have an issue with failure. I also really think that disregarding time when you are trying to whats best for your success is really important. I think the key is to allow yourself to adjust to the change in your natural life cycle.

26A – Celebrating Failure

1) This past semester, I failed a test in my economics class. I had a very busy schedule with the dance team and other classes. The date came up really quick and I wasn't prepared. I was falling behind on watching lectures and couldn't cram enough to pass the test. I think all together there was a build up of stress and made the test even worse for me. The next test, the same thing happened. I tried a little bit more to study, but the test fell on the same day as my marketing exam.

2) From my failure, I have learned a lot about myself. I have gained time-management skills and learned to plan ahead. I have found that I need to start looking ahead at when my exams are and start planning a calendar of when to watch lectures and practice exams. 

3) I agree that failure is hard in the moment, but overall allows us to grow and better ourselves. I think emotionally we cannot let this failure bring us down but motivate us to be better the next time. I feel like these bad tests had this effect on me as I really tried harder on the next exam I took. In regards to this class, I think entrepreneurs are a great example of showing no fear and going for what they want. These people are driven to succeed and I think that is a good message for anyone with goals. You can't let the failure stop you from pursuing your goals, and sometimes the failure is worth it so you can better yourself for next time. 

25A – What’s Next?

Existing Market. 

Step 1: What's next for my Pet Spa and Hotel would be to open up more locations, and possibly expand the offered services.  I think more locations would first spread publicity of the business. When people drive by maybe they will look into the services we offer. I also think that offering more services will cover more specific needs of the pet owners, such as training or obedience classes.

Step 2: Interviews suspended.

Step 3: I think the first step in my business's future is to open a new location. I think it makes the most sense as I can increase the number of customers so they do not have to travel so far to the first location. I also mentioned that adding this second location will allow the Pet Spa and Hotel to market itself. When people pass by they will be more inclined to look up the business online. Since I would like to offer a pick up service, I think this would also be beneficial to save money on gas costs because we would have to travel a shorter distance for some customers.

My next step would to be to expand the services the business offers. I think offering a more broad selection of services and packages the more people it would appeal to. I think offering different services such as training and obedience classes would appeal to many new pet owners and current pet owners. For instance, have a program that is ran during regular work hours, and they could drop their pets off for training while they are at work. 

New Market.

Step 1: Currently my market is for current pet owners. I think I could adapt my target market to first time or new pet owners.

Step 2: I think if I offered training and obedience classes at The Pet Spa and Hotel, where you could drop your new pets off for training while they customers are at work. I think this would be a great idea for new pet owners as they would not have to take time out of their day to train their new pet. Being a first time pet owner cam be overwhelming, and I think this is a convenient way to train your pet and allow them to be comfortable with other animals and people.

Step 3: Interviews suspended.

Step 4: Even though we weren't able to do the interviews, I think that targeting these new pet owners would be a good way to expand my market. Personally I think it would be very convenient to drop your pet off at a place for training and obedience classes or just to drop off a young animal while you go to work.

On the other hand,  I don't think it is as attractive as the market as the existing one. This new market is not very big and cannot be directed towards over a lengthy period of time. It could possibly be popular at some times but I would not want to have an employee who trains dogs to not be used most of the year. I think sticking to my original market would be smartest and most profitable.

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24A – Venture Concept No. 1

1) The Pet Spa and Hotel

Opportunity-

My opportunity is to take pet boarding and care to the next level. I am seeking to make pet care and boarding more luxurious in order to alleviate stress and anxiety that pets get while being boarded. The need is really a concern when vet offices are not spacious enough to hold all of these pets, and they are just not a sufficient place to keep your beloved pets. 

My potential customers are any pet owners that would like to drop off pets for vacation, workers that drop off their pets to stay and play for a day or elderly pet owners who need pet services. 

The forces that draw this opportunity is that there is not an ideal location to keep pets overnight without causing too much stress or anxiety on them. What pet owner wouldn't want to make their pets feel safe when they go to work or vacation. 

The market is open for any age person that owns a pet so I think this makes the opportunity quite large. I would target frequent travelers and full time workers, because I believe they would receive the most benefits.

Currently, many pet owners rely on family and friends, or the vets office to take care of their pets when needed. There is not a current place that is designated for pet stay and care. 

I believe that the window of opportunity will be as long as people still own pets. If people own pets and are still working the service could always be used! As far as I know that is a very long time. 

Innovation-

In my new service, it is a luxury facility that is full of pet services. My service is an all inclusive Pet Spa and Hotel.  It includes grooming services, a bakery, play rooms, and much more. The goal is to allow your pets to interact with others so the time away from family is less stressful. It is including overnight stays, pet playrooms, grooming services, and a pet bakery. There would be different packages of services debating on how many nights your pet is staying, if you wanted to add grooming, and if you wanted treats from the bakery. An average rate per night would probably cost around $40-50. Additional services would be added as a one time fee on top of the rate. I think offering a wide menu of services would attract more customers if they have different wants and needs. 

Venture Concept-

I think the reasons to switching over to my business service would be to overall benefit their pets. I don't think that it will be very hard for customers to switch as the pricing is very similar to a vets office boarding, and this is considered a luxury service. Often times, during busy travel seasons, vets offices will have to up charge for the high demand of boarding needed. I plan to have plenty and adequate space for these pets at all times. I think that if pet owners are educated on how much stress and anxiety is brought on pets during these times it will encourage them to bring them to my business.

The only competitor I have right now would be the vet offices. They offer pet boarding, but their weaknesses are lack of space and comfortability for pets. I think this is what sets my business above theirs and is more valuable.

The customer experience and price are major points is my business concept. Overall, we are trying to make a smooth transition of dropping your pets off for vacation or work. We want the customers to feel comfortable leaving their pet there. The pets should be excited to play with other animals and not be stressed as their owners go away. The price for this experience is unmatchable. The vets office will leave the pets in a cold cage where they get little interaction but for the same price.

I think the organization would be in segments of the many services of my business. I think hiring people specifically for grooming or specifically for cleaning would keep the business running smoothly as every one would have a specific job. I think in the busier travel seasons it would be all hands on deck to ensure that all standards are met even during busy times.

Three Minor Elements-

First, my most important resource is that I am a student studying the fundamentals of business administration. I am taking classes such as economics, accounting and entrepreneurship that will help me run a successful business and make a profit.

Second, I think what would be next for the venture would be to open more locations of The Pet Spa and Hotel. I think more locations would be more advertising as well as convenience for customers further away.

Third, I see myself continuing to run this business. If it is successful I would hope to be managing multiple Pet Spa and Hotel's around the area. I want to be as profitable as possible but still keeping the customers and the business standards first. I see myself continuing to run this business as I am really passionate about it.

2) The feedback I got was quite positive, and many said my post was very detailed. In both exercising many people agreed with me and stated that my new market wouldn't be as profitable or beneficial to my business. Someone stated that maybe I should offer programs to help sick or elderly pets, and I think that would be a great idea. As for my future venture, many commented that opening more locations would give me a brand name reputation and increase awareness of my business.

3) I went back into my post and added specifics and clarified and few fuzzy statements, making sure everything was clear to my business and market. I decided to keep my future venture and new market because I think they are still the best options I have. I really did enjoy reading what other ideas my fellow students have and I think it is interesting to hear their feedback on my idea.

4)

23A – Your Venture’s Unfair Advantage

1. Pet owner experience- As a pet owner, I know the proper treatment for animals. I always have had pets and think they deserve quality treatment, so I feel like I have great knowledge on the care of animals. 

• Valuable: Not very valuable, but I think my passion for the care of animals is.
  
• Rare: It is not very rare, many people are pet owners.
  
• Inimitable: It is quite imitable, any one can say they have had a pet so they have experience.
  
• Non-substitutable: I do not think my personal experiences are substitutable, but could ask others about theirs. 

2. Good relationship with an entrepreneur- My mom started her own business, and her knowledge could be very resourceful. 

• Valuable: This is a very valuable relationship, especially so accessible.
  
• Rare: I think it is rare, as not many people's moms are entrepreneurs.
  
• Inimitable: It is inimitable as no one has the same experiences and advice as my mom could give me, and have such a close relationship to do so.
  
• Non-substitutable: I don't think this relationship is substitutable. I think it is unique to our family and her personal business. 

3. Social Capital- I have pet-sitted many of my neighbors animals before and I know what they look for in good animal care. I think having this connection would help bring in consumers to my business as well as they help spread the word. 

• Valuable: I think that these connections are valuable, as it will help grow my business.
  
• Rare: This capital is not rare as many people are pet-sitters and have good contact with neighbors.
  
• Inimitable: It is imitable. Anyone could babysit and get the same capital.
  
• Non-substitutable: I do not think it is substitutable, as the more people you know the more benefits you will get.

4. Being in business classes- While studying the fundamentals of business, I am gaining knowledge that will help me pursue my business.

• Valuable: These studies are very valuable, as I learn the basics of running and administering a business.
  
• Rare: These classes are not rare, as many colleges offer business courses.
  
• Inimitable: It is easy to copy because anyone could choose to take business courses in college.
  
• Non-substitutable: The knowledge I learn from the classes are not substitutable. The only other way I would learn would be from experience.
  

5. Numerous pet boarding experiences- As a vacationing family, I have had to drop off pets at vets offices to be boarded many times. When we do this we get to view the facility of where the pets are staying. I think I have gained good knowledge of the space and treatment that the animals get while there. 

• Valuable: Slightly valuable. I think seeing the facility was most valuable as I want to increase comfortability in pet boarding services.
  
• Rare: It is not rare. Lots of families vacation and have to board their pets.
  
• Inimitable: It is quite imitable as most people have boarded pets on a vacation and can ask for a tour of the facility.
  
• Non-substitutable: I think it is substitutable as you could call a vet office and ask about their boarding programs.

6. Differentiation of product- There are no Pet Hotels or Spas in my area. My goal is to increase comfortability and luxury for boarding pets. 

• Valuable: I think my service is very valuable. I am trying to make a stressful situation for pets easier while families are gone.
  
• Rare: My business service is rare as no one in my area has come up with something like this.
  
• Inimitable: It is inimitable as I have very high quality and care standards for my pets while offering a luxury service for pet owners.
  
• Non-substitutable: This service is not substitutable. Pets will not receive the same treatment at the vets office as they would receive at my business.

7.  Human Capital- I have a personal experience and a passion for helping animals. I have high standards for pet treatment and think it should be exercised. I really feel dedicated to giving pets a better experience of being boarded to alleviate stress and anxiety during the process. 

• Valuable: I think my passion is very valuable and will not allow the business standards to fall.
  
• Rare: I think many people have a passion to help animals so it isn’t very rare.
  
• Inimitable: Having passion is imitable, but having real passion is not. I think I have high determinism to make pet care a priority, and my passion is not fake.
  
• Non-substitutable: I think this is substitutable because many pet care providers can say they have their best interest for pet, like businesses such as the humane society. 

8. Publicity of stray pets- As a part of my business, I would like to help stray animals and put them up for adoption. I think this adds emotional appeal to my business as well as helping a good cause. I think this adds to the importance of the treatment of animals. 

• Valuable: This is very valuable, because who would not support a business that helps homeless animals.
  
• Rare: I have never seen a vets office or any pet business take in stray pets, so I think this business factor is quite rare.
  
• Inimitable: It is easy to copy but is a lot of work. Taking the time to rescue and hold these pets is a big job that most people do not do themselves, that is why there are so many.
  
• Non-substitutable: This is substitutable because animal control takes some of these strays and put them in shelters.

9. Social capital- Contact with the Petco grooming department. I have taken many animals to get these services and have interviews them for previous exercises. As I would like to have grooming be apart of my services, it a good relationship to have. 

• Valuable:I think this is valuable, as it is a factor that is going into my business. With a such a large company, I think their experience and advice is very valuable.
• Rare: It is not rare as many people have pet groomers, but I did get the opportunity to interview them which not many people do.
• Inimitable: I think this is imitable because it is not hard to meet with any groomer.
• Non-substitutable: I think it could be substituted by doing online research or classes, but getting experience from a real company and workers would be beneficial.

10. Social capital- Very close relationship with veterinarian and office workers. Not only do they have exceptional knowledge on pet care, they have also ran a successful business. 

• Valuable: This is valuable as they have experience on pet care as well as running a business.
  
• Rare: This is not very rare as many people known veterinarians.
  
• Inimitable: I think that this is imitable. Others may seek interest in other vets for knowledge of pet care.
  
• Non-substitutable: I don’t think this is substitutable as they have experience and knowledge in two large factors of my business, and would be hard to find a place that also has this.

I think each one of my resources adds something to my business and would help it prosper. I think that my most valuable resource would be between numbers 4 and 10. I think combining my business classes with the knowledge of a professional would give me the best benefits. If I had to pick one, it would be number 4, my college business classes. I think this is most important to running my business so I make a profit and run my business as smart as possible. This is more important as the fundamentals of business will never change, but many other factors can including relationships and personal opinions.

22A – Elevator Pitch No. 3

1) https://youtu.be/dtIRiVzc2bg

2) The most valuable feedback I got was to put more emphasis on using my arms with purpose. I really agree with this statement as body language plays a big part in getting the right message across. People commented that they liked my pictures I included, and I appreciate that. I enjoy that they noticed the extra work I put in.

3) In this pitch, I payed closer attention to my body language. I used my arms more when describing things, and made sure to keep better eye contact. I also added pictures in my video once again as that is what people seemed to like. I think it really gets my point across and shows a better description just like a real elevator pitch where they show the product!