"Venture Concept No. 1"

Opportunity:

Month after month millions of American over pay for cable. Most of these Americans are either full time workers or full time student. No matter the case the dreadful monthly bill of $100 or more for cable TV is at an all-time high! Like myself, many others agree; although we do not watch all 300 plus channels that I pay for on cable, the thought of not having cable for the few shows we can’t miss is repulsing. Many of my counter parts are tired of paying 100 plus dollars for 300 channels although they only watch 2 or 3 channels. Some of them have resulted to sources like Hulu, Netflix, and Amazon Prime to keep up with their shows and reduce their cable bills. Others and I on the other had have not. I still pay over 100 per month so that I can have the luxury of watching my shows as they come on. In my efforts to meet the needs of budget and the convenience of watching a series as it comes have come up with a plan. At this current moment none of my competitors is doing it but I know that all they need is a little research and they will be able to provide the service as well.

Innovation:

 I have come up with a price plan of $15.99 a channel and $12.99 per series. The joy of this plan is that unlike my competitors (Hulu and Netflix) my customers can watch the shows as if they had cable. I have also added in a way for customers to record their shows like a DVR service from a cable company. What else could you ask for? My plan to make money is in the numbers. I will have more people buying this service than paying full price for cable. I will be the Redbox to Blockbuster.

Venture Concept

My customer will switch to my service because not only is my prices lower but what I’m offering is still effective. My competitors are good at movies but not being able to watch a television series when t=it comes on can be hard for people who are used to watching shows with their friends. My price point is going to be my selling point. The average working American may watch 4 shows total. The cost for that would be $51.96! Why wouldn’t you get rid of the cable bill for $190? I don’t need help with inventory but I will need customer service reps and over the phone IT people. I will start out with 20 of each in each city I launch until it is just too big.

My secret sauce will be my price point. Mu over head is so much smaller than the major companies that it would be too hard for them to lower their price to match mine.

The Next thing I would add is movies like NetFlix and Hulu, that way when their shows are not on and they just want to watch TV they still can

My next step would be to research how cable works. Find out how I can get my foot in the door to make this happen. In the next 5 years I would like to be the company that put cable out of business. As previously stated, I want to be the Redbox of Blockbuster. 

"Week 11 Reading Reflection"

1)      What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

It was surprising to me but it did stick out because it was so well written. When they talk about making yourself an indispensable player. Many companies start because they saw another company do it but most of them only have price as a game changer. All phones do the same thing but it is a matter of your experience with that phone that makes you change your mind

2)      Identify at least one part of the reading that was confusing to you.

The definition of innovation it asked is confusing. It’s the way it is worded. I’ve done lots of research on being an innovative brand so I am aware of what it means but the way the author writes it is confusing.

3) If you were able to ask two questions to the author, what would you ask? Why?

If my company doesn’t really use technology like that to be innovative how do the 4 quadrants work for me?

How is a company being innovative if they are stuck on their routine? I thought it was supposed to be different but if all we are doing is constantly re working our strengths, nothing about that is innovative

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I disagree with the fact that the routine innovation is good because you are not developing anything that people don’t already have. Like the iPhone for example. When new phones come out people always want to know what’s different. Majority of the time if the phone is basically the same look and same technology, and it’s not time foe an upgrade, people will wait. That leaves the people who missed the last upgrade to now get the new phone where as if it was really innovative then people who just got upgrades and people who missed the last upgrade will both get the new phone.

"Amazon Whisperer"

Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money.

My revenue drivers are buying either a series or just buying a channel

Describe what kind of product offering you believe should be next. What's the next thing your customers want?

The next thing would be to be able to record the shows like a DVR

Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

This will enhance my service because everyone can’t watch TV when shows come on but if they are able to watch it when they are ready too I think that will be beneficial. This does improve their experience. It helps them with their switching cost because some people wouldn’t switch without their DVR and if I have everything under one roof then it will be easier.

Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

This is a digital convert box to view and record FULL HD digital channels. Got to leave in the middle of your program? Just PUSH RECORD/PAUSE - Not going to be home to watch your favorite show? Just SCHEDULE IT for recording.

What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

Doris said:

It's really nice to see the tv guide on my tv screen. I also like how I can now record all my shows while I am at work. So glad I purchased this. I still pick up all the same channels as before, and the picture quality is great. At only $35 with shipping and handling, it's a steal!!

Loanny:

I just bought it for a old tv that I have in my kitchen and it really works, at first didn't work because it needs an antenna... I bought one of those cheap antenna in dollar store and work fantastic... I have a lot of local channel that I was paying in a basic service in a cable company. Very satisfied

Boofdoggydog

Ok, for the price this unit works to record a single broadcast at a time but not while you are watching something else. Also, the instructions seem to indicate you can select a show from the Chanel menu and have it record. You can't, you have to manually enter the Chanel, start and end times. I emailed the company and they had no explanation other than to tell me you did have to enter the information manually. I would not buy this particular unit again but it does work for some.

kerri a

I purchased this as a gift to record shows off an antenna. When the antenna is plugged directly into the digital TV we receive 41 channels, but when the same antenna is run through the box only 5 PBS channels and 2 religious channels came in. The signals are so badly degraded when run through the box that we lost all network stations. The manufacturer sent me 2 software upgrades to improve the signal strength. The first one had no effect. The second dropped the 2 religious channels and left us with only 5 PBS channels.

Describe what design/usability changes you'd make to the product.

I don’t want it to need an antenna. That’s so old. I would find a way to make it digital

Describe why you think this product would make a good addition to your current product/service offering.

As stated, it covers all basis of Cable Company. People can watch just the shows they want to, save money, and now they can record the shows too. It gets no better than that. 

Week 10 Reading

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The Kendon Corporation stood out to me. I'm not sure where it derives from. I kept reading it to see if I missed where this was discussed to understand its name 

Copyright | CENGAGE Learning | Entrepreneurship | bridgettdavis85@gmail.com | Printed from Chegg iOS App

2) Identify at least one part of the reading that was confusing to you.

The shares of a business had always been confusing to me 

3) If you were able to ask two questions to the author, what would you ask? Why?

 If there is more than one owner in a corporation can one of them only have all the shares or do all the owners have to have shares

Why is it called The Kendon Corporation? Where does the term come from 

Copyright | CENGAGE Learning | Entrepreneurship | bridgettdavis85@gmail.com | Printed from Chegg iOS App

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

Considering that this is not my sector of business I have nothing that I think the author is wrong about. I don't have another opinion because everything I've read here has been everything I've ever read. Some info is all together new for me therefore I had no prior knowledge and can not dispute the contents of this article 

elevator Pitch 3 week10

Here is my pitch again

Week 9 My Secret Sauce

Describe five ways in which you think you have human capital that is truly unique. What is it about you, exactly, that makes you different? Write this up in a detailed list.

                                                                                                                                     

1.       I never see problems only solutions. Every time something around me is falling apart instead of focusing on what is falling part I acknowledge it and then move on to how I’m going to fix it right away.

2.       I’m always searching for answers. I always want to know why something is or how something is. I read tons of books and I’m always researching in order to expand my mind a little. I always feel like there is more to learn

3.       I never give up. I can change the plan 1000 times but I never change the goal.

4.       I am an inspiration to everyone around me. I am the person that people call when they need a pep talk. They rely on me to make them feel better about whatever they are going through in their lives.

5.       I am very goal oriented. Every year I set new goals. Every year I focus on how much better I want to become as a person, I’m so focused on my goals that anything outside of my goals takes a back seat to my goals.

My Moms interview: My mom believes that I can see the whole picture and that I make decisions off of the whole picture, not just some of the fact. She believes I can see in people what they can’t see and I have the ability to pull it out of them.

My Dad believes that I am courageous and I think bog. He believes that I am an excellent communicator

My friend Jamie believes that I can adapt to any situation and communicate that I understand them. She believes that I allow people to be them while I am me

My Mari ( My best friends little sister) believes that I am very drive. She also believes that I am very independent and looks to me as a big sister

My bestie (Shantelle) believes that I never give up and that I am very consistent. She believes I’m always happy no matter what is going on.

Listening to what everyone had to say made me tear up. It is so weird hearing what people think of you and I can say I agree with them about everything they think. I think I would add in that I am a good communicator. Being good at communicating comes natural to me so I guess I just overlook it. 

week 9 Reading reflection

What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

I like the fact that a patent is considered an intellectual property right. When I try and explain them to my clients I’m always confused because I actually don’t get them myself except for they are inventions. Saying that they are an intellectual property right make it easier to understand.

Identify at least one part of the reading that was confusing to you.

Limited Liability. I have NEVER understood it. In the text it is under the corporation part but I thought it was a part of the partnership part. I wouldn’t know because I never have understood it anyway.

If you were able to ask two questions to the author, what would you ask? Why

1.       So has all the information on LLC’s I’ve received been wrong? Is an LLC a corporation or not?

2.       Can one person own a corporation by themselves with no other person?

Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

The only way I would know if something is wrong is to have prior knowledge of other facts. The fats I have on the topics discussed are the same as the ones presented.