29A – Venture Concept No. 2

Opportunity:

A giant need exists in metropolitan areas with no adequate public transportation methods. The people of these large areas are either forced to drive a car and sit in traffic, or ride a bus and sit in traffic. In major cities we have seen metros and other train transportation methods be built and thrive. Potential customers would include people who can’t afford a car, or simply have to travel distances that would make more sense to use this new product. In large areas, there are more and more people crowding roadways which is causing it harder and harder to get around. In L.A. alone, drivers are forced to wait in traffic for hours to only go short distances. The market exists in large metropolitan areas that do not have any real public tram systems. Tampa, and Los Angeles are a few cities that come to mind when that is said. People are also on a budget would be interested as this would be a much more cost effective way to travel around their city. Current customers do not have many options when it comes to getting around other than the bus and car, therefore they are forced to not only settle but do not have any other choice. There is a large opportunity because population will continue to grow and traffic will continue to become more abundant. I believe the window of opportunity will remain open until somebody fills it. Like I mentioned, everybody is looking for a better way to get places will it being more time efficient. The goal for everybody is to connect the city and make the time of travel shorter. While doing all of this for a more cost efficient price. This need will stay open until somebody plugs to hole, which I plan to do. 

Innovation:

The innovation that I would like to address is an overhaul of the public transportation in Los Angeles County, specifically the major cities of Burbank, Glendale, Hollywood, Los Angeles, Downtown L.A., Sherman Oaks, Pasadena, and Santa Clarita. This innovation is long overdue and would provide a great service to the community, and the city. It also has the potential to generate large amounts of revenue. Everyone has heard about how bad Los Angeles traffic is. It has almost become a legend that has been spread to visitors. Having been to Los Angeles and experienced this traffic first-hand, I realized that something had to change and that this was unacceptable for such a major U.S. city. It has almost no means of public transportation, and the transportation that is there is old and inefficient. For these reasons I would like to create a subway system throughout the cities that people would be able to use to get to almost any location they desire. Los Angeles’ current subway system is old and run down. It also is very limited in the place that it can take you. This overhaul of the subway system would provide transportation for those that can’t afford to owner a car, and it would also create a faster means of travel as opposed to sitting in three hours of rush hour traffic. We would follow a similar payment plan to that used in New York City and their subway system. We would charge $2.75 for a single ride. We would also offer seven day passed for $32 and thirty day passes for $121. This should provide large amounts of revenue as there is a massive need for a subway system in Los Angeles. There would be a quick overhaul of how people travel in the county and the project would quickly flourish.

 Venture Concept:

This product is something that everybody needs. It will benefit the communities as a whole and will add a lot of new ways to get around. The reason customers will buy this is because it is more efficient and less expensive then what they are currently doing to transport in their city. In my idea, we would upgrade/build an entire new rail system which allows for the residents to get around faster. For most of the customers they would have not had this option in the past so they will be more inclined to try the new system since it has had so much success in other markets. I think we will battle with them trying to get out of their daily routine. Most customers have a way they have done things for many years so it may be tough, but once they see how efficient it is, I believe we will have them hooked. Location and price is everything for this business. We need to be able to connect the entire city and still keep it at a low cost. The good thing is we do not have to hire a bunch of employees. We will continue to have to keep up the train’s condition and handle any maintenance issues that arise. We will start in a few cities, and look to expand into other markets. The ultimate goal is to provide every city with this system. We would have to hire some workers to man the phones in case of customer support but the system would run pretty self-dependent. Each person would have a card that can be recharged, which would allow them to just swipe and ride. This system is used in many different markets and I can recreate and market it to these new markets.


2. Unfortunately I did not receive any feedback from other students on my first venture concept. 

3. Based on personal growth, I updated some of my designated audience that this will target. Realized maybe some more people may use it. 

30A – Final Reflection

2. One of the most formative experiences was the one where we had to reach out to people who worked in the field of our idea. This is was a very useful experience because it really made us get out of our comfort zone and do something many of us have never done. I think the bug list is one I'm most proud of because it made me more aware of what bugs me and how to solve it. The most joyous definitely goes to creating an idea and continually building on it. Gives me hope for pursuing other business opportunities in the future.

3. If you haven't moved closer to developing an entrepreneurial mindset then you haven't been doing this class correctly. Each exercise pushes us to think more entrepreneurial and pushes us to think in ways we never have. I 100% feel that I have begun the process of developing an entrepreneurial mind and feel I am becoming an entrepreneur.

4. Think outside the box and don't be afraid to fail. Its all about not being afraid and doing what you feel. Once you have an idea take all the steps to develop it and continually learn from your mistakes. Its a great path to take!!!

28A – Your Exit Strategy

1. I think the ultimate goal of an entrepreneur is to continually create new ideas. After this company blows up, I will plan to hopefully sell it for a huge return. 

2. I have selected this exit strategy because I will try to come up with the new idea. Take the money I made and use some of it to fund a new company. I have seen many business people do that and are continually being innovative. 

3. I think it definitely helped shape my decisions. Most decisions have been made with the purpose of fast growth. I have pin pointed the locations I hope to build and then would hope for somebody else to take it more global. Their is no limit on this idea but my decisions have been made with the purpose of growing it fast and then hopefully turn it for a major profit.    

27A – Reading Reflection No. 3

Inbound Marketing:

1. The general theme about the book is all about people finding you online. Doing whatever it takes for prospects, customers and and the public to come to your website or personal page. Its the opposite of outbound marketing and its all about the steps you take to get found.

2. I think this class is all about marketing yourself and finding ways to do just that. As an entrepreneur you have to market yourself and sell yourself to get your ideas through. This helped me continue to understand what it takes.

3. We have to find ways to help drive people toward our personal page / website. What steps would we take to make sure this happened.\

4. It really was a step by step way to do it. I wasn't expecting this but at the end of each chapter there is a "To Do List" which was easy to follow and gave me something to do after reading.  

26A – Celebrating Failure

1. I time I failed this past semester had to do with my job. I was handed a project to do and unfortunately failed miserably. It was for the new coaches who had just gotten hired here and it was a terrible look to start off with them. They gave me another chance and I redeemed myself which made me feel better. 

2. I learned that I'm not perfect and have a lot to learn in this profession. It was good for me to fall on my face because it allowed me to learn some good lessons that I can use while I pursue coaching. 

3. Thankfully my dad has instilled in me many characteristics that allow me to get through these things. He always told me that life is like learning to hit a curveball and you never quite know exactly where the ball is going to go. You have to learn how hit those curveballs. I think risks has to be apart of everybody's life because it makes us try to extend ourselves and become a better person. This class showed me that even the best have failed and they took risk. 

24A – Venture Concept No. 1

Venture Concept Write-Up:

Opportunity:

A giant need exists in metropolitan areas with no adequate public transportation methods. The people of these large areas are either forced to drive a car and sit in traffic, or ride a bus and sit in traffic. In major cities we have seen metros and other train transportation methods be built and thrive. Potential customers would include people who can’t afford a car, or simply have to travel distances that would make more sense to use this new product. In large areas, there are more and more people crowding roadways which is causing it harder and harder to get around. In L.A. alone, drivers are forced to wait in traffic for hours to only go short distances. The market exists in large metropolitan areas that do not have any real public tram systems. Tampa, and Los Angeles are a few cities that come to mind when that is said. People are also on a budget would be interested as this would be a much more cost effective way to travel around their city. Current customers do not have many options when it comes to getting around other than the bus and car, therefore they are forced to not only settle but do not have any other choice. There is a large opportunity because population will continue to grow and traffic will continue to become more abundant. I believe the window of opportunity will remain open until somebody fills it. Like I mentioned, everybody is looking for a better way to get places will it being more time efficient. The goal for everybody is to connect the city and make the time of travel shorter. While doing all of this for a more cost efficient price. This need will stay open until somebody plugs to hole, which I plan to do. 

Innovation:

The innovation that I would like to address is an overhaul of the public transportation in Los Angeles County, specifically the major cities of Burbank, Glendale, Hollywood, Los Angeles, Downtown L.A., Sherman Oaks, Pasadena, and Santa Clarita. This innovation is long overdue and would provide a great service to the community, and the city. It also has the potential to generate large amounts of revenue. Everyone has heard about how bad Los Angeles traffic is. It has almost become a legend that has been spread to visitors. Having been to Los Angeles and experienced this traffic first-hand, I realized that something had to change and that this was unacceptable for such a major U.S. city. It has almost no means of public transportation, and the transportation that is there is old and inefficient. For these reasons I would like to create a subway system throughout the cities that people would be able to use to get to almost any location they desire. Los Angeles’ current subway system is old and run down. It also is very limited in the place that it can take you. This overhaul of the subway system would provide transportation for those that can’t afford to owner a car, and it would also create a faster means of travel as opposed to sitting in three hours of rush hour traffic. We would follow a similar payment plan to that used in New York City and their subway system. We would charge $2.75 for a single ride. We would also offer seven day passed for $32 and thirty day passes for $121. This should provide large amounts of revenue as there is a massive need for a subway system in Los Angeles. There would be a quick overhaul of how people travel in the county and the project would quickly flourish.

 Venture Concept:

This product is something that everybody needs. It will benefit the communities as a whole and will add a lot of new ways to get around. The reason customers will buy this is because it is more efficient and less expensive then what they are currently doing to transport in their city. In my idea, we would upgrade/build an entire new rail system which allows for the residents to get around faster. For most of the customers they would have not had this option in the past so they will be more inclined to try the new system since it has had so much success in other markets. I think we will battle with them trying to get out of their daily routine. Most customers have a way they have done things for many years so it may be tough, but once they see how efficient it is, I believe we will have them hooked. Location and price is everything for this business. We need to be able to connect the entire city and still keep it at a low cost. The good thing is we do not have to hire a bunch of employees. We will continue to have to keep up the train’s condition and handle any maintenance issues that arise. We will start in a few cities, and look to expand into other markets. The ultimate goal is to provide every city with this system. We would have to hire some workers to man the phones in case of customer support but the system would run pretty self-dependent. Each person would have a card that can be recharged, which would allow them to just swipe and ride. This system is used in many different markets and I can recreate and market it to these new markets.