22A - Elevator Pitch #3

Link to video:
https://youtu.be/j1XewW_maak

Reflection 
I received pretty positive feedback on my last elevator pitch so I didn't change too much. I made the video a little shorter and got to the point quicker. I also tried adding a little bit of more details on my product.

21A - Reading Reflection #2

How to Fail at Almost Everything and Still Win Big 

By: Scotts Adams

1.    Basically, the main point of the book is that one should let failure define them and stop them from achieving one’s goals. Adams shares strategies to help people embrace failure and then use it to their advantage. 

2.    I really liked that this book discusses that you don’t need to be the most creative and brilliant person to become and entrepreneur or be successful. That used to be a huge misconception I had about entrepreneurship. Adam talks about how “embarrassing failures” can eventually lead to success. And throughout this class I’ve learned that failure isn’t the end, it’s only the beginning. 

3.    I would make an exercise where student would need to lists some failures they’ve experienced and how they either (a) let it define them or (b) they combat it and became successful. I think this exercise could help people realize how their failures have affected them in their lives and how they can approach it differently in order to succeed. 

4.    Something that really stood out to me was that being selfish can actually be good (to an extend of course). Adams stated that it is important to spend time on your fitness, health, career, and especially spending quality time with friends and family. Most importantly, Adam mentioned that in order to focus on the needs of others, you need to meet your own needs first. I have learned this in psychology but never gave it too much thought until now. 

20A – Growing Your Social Capital

Domain Expert 

1.    Nancy, Head Administrator at Health First

2.    She helps manage the hospitals. She also brings in new technology to products that could benefit the place. 

3.    My father used to work with her so he was able to connect me with her. 

4.    I emailed her with a list of questions to better understand what her job is and what she does. I then explain the purpose of my product since she would be the one in the medical field to most likely buy the product. She liked the basic of my idea but mentioned how important detail is when trying to sell a product are. 

5.    She would be a great reference since she has a lot of experience searching for new products/service that could be beneficial in hospitals. 

                                     

Market Expert 

1.    Robert, Drug Rep at Health First 

2.    He comes by the hospital to explain about new medication and services that are available to them. 

3.    I came in contact with him through Nancy. 

4.    He told me about the process he goes through to sell the products to physicians. He mentioned that they have to do a lot of research before presenting a new product, especially if it’s a new type of medicine. 

5.    He could certainly help me exploit the opportunity because he has had a lot of experience in his line of work and has a lot of connections. 

Industry Supplier

1.    Robert, same Drug Rep from the part above 

2.    He also supplies the hospital with the new medication they need.

3.    This part was difficult to find, but Robert mentioned how supplying was also part of his job.

4.    So not only does he do research before selling the product, he helps in the supplying part. 

5.    As I mentioned before, he has had a lot of experience in his line of work and has a lot of connections which could be helpful. 

Reflection 

      For this assignment, I didn’t actually meet them in person but contacted them through email. For most networking things I’ve done, I’ve talked to the people in person which is bit different. I felt it was easier emailing them because it gave me time to think of what to ask and what information was important. I feel like after networking with people in person, I would be more comfortable emailing them with questions.  

19A - Idea Napkin #2

1)    You. Who you are.

o   I am a third-year Business Administration major with a specialization in Portuguese. I hope to one day get a master’s in health administration because the business aspect of the medical field can really help both the workers and patients. I have a love of language and cultures and pick up languages pretty quickly. I am fluent in English and Spanish and am intermediate in Portuguese. Providentially, I have had the opportunity to travel to many countries and have learned about a myriad of cultures firsthand. 

2)    What are you offering to customers?

o  My product would be a software that would allow physicians to mark a person with alcohol decency’s ID. That way when their patient tries to buy alcohol the cashier can scan their ID and see if they have the marker. The marker would limit and place a fine on the alcohol they purchase. The software would protect the user’s information and keep everything private and possible employers would not be able to see it. 

3)    Who are you offering it to?

o   I would mainly offer the software to the hospital and other medical institutions. I feel that the product will be most effective in the medical field. 

o  Some government agencies would also benefit from the product. 

4)    Why do they care?

o  Many doctors have had patients with alcohol dependency and haven’t been able to fully help them. This could take them one step in the right direction. 

o  The government has struggled with helping people with alcohol dependency, and this could be a step in the right direction.  The product would be of great service to society because it could reduce drunk driving and essentially save lives. The product would also really help those people that want to reduce alcohol intake by limiting them. 1 in 8 Americans is an alcoholic, so this could hopefully diminish that statistic. 

5)    What are your core competencies? 

o  It would be inexpensive for those who really need it. 

o  Job employers would not be able to see the marker so those people won’t have difficulty with applying for jobs. 

o  It can be used alongside other methods to help combat alcoholism. 

Feedback

            I was really glad to get back positive feedback on the first assignment. The people that commented mentioned that they liked the idea and that it was unique. This time around, I tried to incorporate the medical field a little more because I ended up tailoring my customer as someone in the medical field. I made sure to emphasize the fact that there was a privacy aspect based on the feedback. Overall, I didn’t change too much, I just added a couple things and tried to clarify a little more. 

18A - Create a Customer Avatar

In my previous assignments, I mentioned that my prototypical customer would most likely be someone in the medical field. Since the medical field is so broad, I narrow it down to physicians. My dad is a physician so I tried tailoring my avatar to what he looks like. 

The main characteristics of my customer:

·     He is a physician 

·     He lives in Sayre, Pennsylvania and works at Guthrie Hospital 

·     He works over more than the usual 8 hours a day and sometimes has to work weekends 

·     He enjoys fishing but prefers to rest during the weekends 

·     He is married and has two kids that are now, adults 

·     He is in their early 50s but feels like he is near their 60s already due to all the stress 

·     He enjoys reading medical journals about the most recent research conducted in medicine 

·     He drives a black SUVs 

·      He enjoys watching Grey’s Anatomy, Criminal Minds, and Modern Family 

·     He enjoys going out do eat on weekends and trying new restaurants