30A- Final Reflection

1)    Read through your posts from this semester. Recall all of the experiences you've had along the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

This class has taught me a lot about thinking like an entrepreneur.  I really enjoyed the assignments that dealt with seeing what needs would solve customer problems as well as the assignments that involved developing a product or service.  The developing of a product or service is exactly what I pictured in an entrepreneurship class.  In the moment, I thought it was very difficult at times to reach out to people and interview them for assignments.  However, as the class advanced, this did get easier.  Also, I see why this was necessary because talking to potential customers and people with experience can be very helpful as an entrepreneur

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2)    What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

Honestly, the first assignment where we had to create a bug list was something I enjoyed, and thing could be very useful later on in life.  Doing this assignment showed that there are so many opportunities to solve the needs of people.  Also, I think the elevator pitch assignments were very useful.  Although I took a public speaking class, one can never practice speaking in front of a camera or audience enough.  The assignment I am most proud of accomplishing is the one where I had to reach out to professionals who could help my idea.  This showed me the importance of networking and that asking for help and advice is sometimes very useful and necessary.

3)    At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

This class was very beneficial in developing an entrepreneurial mindset.  I think I am on the right track to considering myself an entrepreneur but I do not know if I am an entrepreneur just yet.  I understand this is a process and there are steps and stages that need to be addressed.

4)    What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

One recommendation I would make to students who are going to journey down the path of entrepreneurship is to value the importance of networking.  Creating valuable connections and networks can differentiate you from others and lead to success.  One thing I would recommend performing best in this class is manage time wisely.  Assignments and due dates can sneak up on you and time management can allow for all assignments to be turned in on time.  To foster an entrepreneurship mindset I would watch the lectures and really try and grasp as much information as possible.

28A- Your Exit Strategy

1)    Identify the exit strategy you plan to make.

Although I believe there is potential for long term success with a sand repellent product, my exit strategy would be to sell the business for a larger return to make a profit.  Thinking like an entrepreneur I understand that there is a product life cycle and a product cannot sustain success forever.  Additionally, with this kind product it is unique until other competitors replicate the idea.  For this reason, I think the most successful exit strategy would be to sell before the competition is too high to overcome.

2)    Why have you selected this particular exit strategy?

As I mentioned, I think this strategy would be most successful due to the understanding of the product life cycle and that the increased amount of competition would limit the profits that could be made.  Selling the business after a period of time would allow for another person or organization to control what is done.

3)    How do you think your exit strategy has influenced the other decisions you've made in your concept?

This exit strategy would influence the decisions made.  For example, if I knew that I wanted to sell, it would not make sense to continue to invest large amounts of money to promote and advance the product.  This may include focusing on the product line rather than trying to make a new product that could potentially attract a new market.  If I were trying to use a different exit strategy such as holding on to it for a long period of time it may make sense to focus on new markets.  However, with the exit strategy of selling it would not make sense to keep spending if I were not able to benefit.

27A- Reading Reflection #3

1)      You read about an entrepreneur:

Shoe Dog by Phil Knight is an autobiography of Nike’s founder shares his story on how he founded one of the most iconic, profitable, and world-changing brands in the world.  One that really surprised me about Phil Knight is that he tried to stay out of the public spotlight for a very long time.  Many people did not even know who the founder of Nike was, and Phil Knight did not mind it that way.  Much of Nike’s history and reasoning for many decisions were kept private.  Phil Knight did not reveal much information about Nike and his personal life until after stepping down as chairman and writing this autobiography.  One thing I admire about Phil Knight is his passion for sports and desire to be a successful entrepreneur.  This mindset and desire taught the lesson that you only get a few chances to start something crazy, so go for broke when you’re young.  This shows that Phil did not believe in failure unless you give it your all which I admire.  One thing I least admire about Phil Knight is that he kept much of the information about Nike and his public life private.  Phil faced adversity when he first was interested in selling shoes.  Phil Knight wrote a paper called “Can Japanese Sports Shoes Do to German Sports Shoes What Japanese Cameras Did to German Cameras?”  Nobody was impressed with the paper, but Phil became obsessed with the idea of selling Japanese, high-end, low-cost running shoes in the US, which propelled him to start the Nike company.  He was willing to take risks and this helped him create one of the most successful brands of all time.

2)      What competencies did you notice that the entrepreneur exhibited?

Throughout the book we learn about the people that made a difference in his life as well as the personal tragedies he had deal with.  The combination of the two helps show Phil Knight’s drive and ability to succeed even in times of adversity.  Using the networking connections, he was able to take an idea he believed in and with the help of some other turn it into a very successful product.

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

One part of the reading that was confusing was that how Nike first started, and how Phil Knight made money and hired a group of his friends to start up Nike. We learned that its  better not to mix friends and business unless they ae partners.

4)      If you were able to ask two questions to the entrepreneur, what would you ask? Why?

As a sports fan, the first question I would ask is which athlete was he most excited to get to represent his Nike brand?  Athletes representing a specific brand can be proven to be one of the major reasons for the success of Nike.  The second question I would ask is when the flip switched and when he knew he had created such a successful company even through times of adversity?  I think learning about when Phil Knight thinks his company became successful would be interesting to hear.

5)      For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

I think Phil Knight would say that hard work would be described as giving everything you have until nothing else can be done.  Based on this book I can see that Phil Knight does not believe in failure but instead just as an obstacle to learn from and overcome.  I agree with this but it is not always easy to obtain this mindset of never giving up right away and may take some time.

26A- Celebrating Failure

1)    Tell us about a time this past semester that you failed

I have always enjoyed playing musical instruments ever since I was a little kid.  Just the concept of figuring out how to play music really intrigued me.  I took piano lessons for about sever years which I enjoyed.  I also played the saxophone in both middle and high school.  I enjoyed playing the piano and saxophone piano and just messing around trying to learn popular songs.  I still to this day try and play some piano whenever I get the chance.  One day in the beginning of this semester I saw one of my friends playing the ukulele.  I have no prior experience playing guitar or ukulele, but it sounded very cool and I wanted to learn to at least try and play.  My friend said he would try and teach me to play “Hallelujah” and I was interested.  While trying to learn to play the ukulele I just could not grasp the concept on how to place my fingers on the strings to make the right sound.  I had gotten really frustrated and almost wanted to give up.  I tried different positions and ways to get my fingers to lay on the strings properly, but nothing seemed to work.  I tried to practice for about 20-30 minutes each day.  I did this for about a month and eventually saw some improvements.  I now can play a little bit but still need to practice be just as good as my friend.

2)    Tell us what you learned from it.

From this I learned that practice is key.  The more I practiced the better I got at playing the ukulele.  This concept can work for almost anything you do.  To perfect something dedication and practice are key.  Also, I learned that some instruments aren’t made for me.  I enjoyed trying to learn how to play but at times I would just get too frustrated.  I still try and play every now and then, but I decided it would take me too long if I tried to perfect playing the ukulele.  Maybe in the future I will try again.

3)     Reflect, in general, on what you think about failure.

Failure is never enjoyable.  When I was unable to put my fingers on the strings and play I got very frustrated.  I am certain people who fail at things also deal with this frustration.  In times of failure and adversity it is important to try and overcome this.  I do my best to overcome it without getting too discouraged.  I learned in this class that failure is ok and that it is important to learn from these failures.  One can get discouraged and want to give up when faced with failure but the most successful people are able to overcome it.

25A- What's Next

Existing Market

-I would like to further advance my product idea of a sand repellent spray.  This would include talking to manufacturers to have a better understanding of the product and the sand repellent features.  Additionally, I would like to create an additional product that would be both sand repellent and act as sunscreen. Combining these two features would be very beneficial as it would have multiple purposes.

Interview #1

In my first interview I spoke to a women in her mid 30s while I was in line at Publix.  I explained my idea of a sand repellent spray and she said she was intrigued by the idea.  She told me she does not like the beach but her two children love going. She suggested also selling other sand repellent products but I informed her that things such as sand repellent towels already exist.  I brought up the idea of incorporating sunscreen with the sand repellent spray and she liked the idea very much!

Interview #2

In my second interview I spoke to a man who was sitting next to me at the UF baseball game.  This man was in his late 20s and said he was interested in hearing about my product. He told me that he enjoys going to the beach but his wife is not a fan because of the sand.  The man I talked to was not sure how I could further the product but he said that having it available to purchase in multiple places would be a great idea. I brought up the idea of incorporating sunscreen with the sand repellant spray and he said it may be too difficult to achieve.

Interview #3

In my third interview I spoke with one of my friend’s mothers.  She does not enjoy going to the beach but usually goes with her three children.  As a single mother she wants to make her kids happy although she does not like the beach and the sand.  She said a sand repellant spray would be very useful in preventing sand from sticking and getting in the car.  She said possibly incorporating this with other sand repellent ideas for sand in the car would be a good idea. I brought up the idea of incorporating sunscreen with sand repellent may be a good idea but would not make her want to buy it more than before.

-After conducting these three interviews I believe considering incorporating sunscreen with the sand repellent spray would be a good idea but also maintaining the sand repellant product.  Doing this would allow people to have options with choosing a product. Additionally, having the products available in many places would allow for the product to gain exposure.

These three interviews were helpful because I now have a better understanding of what else consumers want to see.  When developing a product or business it must continue to advance and evolve to stay successful. I found the input from the interviews to be helpful.

New Market

-A new market I would like to explore is selling business to business.  In my existing market I was focusing on a target market of existing customers.  However, extending the market to business to business could also allow for more exposure of the product.  For example, selling this sand repellent spray to companies who sell other sand repellent products may be very useful.

-I think selling this sand repellent product to other businesses to sell it would add value because it would add other sand repellent products to the ones they are already selling.  Companies selling sand repellent products is very popular. Adding this sand repellent spray would be very valuable.

Interview #4

In my fourth interview I went to a store that sells beach products and explained my idea of selling a sand repellent spray.  The manager was interested in the product because she said it fits well with what they sell and would probably be successful.  She said people often come into the store to see if any new products have surfaced. Selling the sand repellent spray would be new and gain attention to people.  Lowering the price to sell to this store would have to be done so the store could also make money.

Interview #5

In my fifth interview I went to walgreens and explained my product to one of the managers working their.  I asked if she thought incorporating sunscreen with the sand repellent spray and it being sold in walgreens would be successful and sell.  The feedback I got was that in the summer many people go to walgreens to buy sunscreen so if it was in the same section of the store people may be interested in purchasing it.

-After my interviews I think there is a potential to sell this sand repellent product to other businesses that sell sand repellent products.  However, I don’t think this should be done right away. I think working on selling to the original market i important before expanding the target market to other places.  

I do not think this market is as attractive as the other market because selling to another business we would not gain as much revenue than selling straight to the consumers.  It could help us gain exposure but the other money made selling directly to the customer could be used on promoting the product.

24A- Venture Concept 1

Opportunity

After talking to many people and assessing the information I discovered, I concluded there is a need to create a way to prevent sand from sticking to the skin of people when attending the beach.  Sand can be irritating on the skin and can also act as a nuisance by getting I the car after leaving the beach.  There are many places located near the beach, but my original target market would include most Florida residents but mainly adults specifically parents located near beaches.    The target customers would be adults both male and female as they are the ones most likely to go to the beach and have an unmet need that needs to be solved.  As I mentioned, this need is best suitable for people who live near a beach and frequently go to the beach.  This opportunity to solve the need is moderately big.  If I were to create a product and put a patent on it so it could not be copied I could successfully sell the product with a large window because it would be useful and not be able to replicated by competitors.

Innovation

To satisfy these needs I came up with the idea of creating a spray on product that would be used at the beach to prevent sand from sticking to the skin.  I have no experience creating such a product, so all started as an idea.  This product would be most useful for people located near the beach.   The use of this product may allow for adults who previously did not enjoy going to the beach a chance to attend the beach without and preventing sand as a negative factor.  This sand repellant product would be sprayed on multiple times while at the beach.  The reapplication of this product would continuously prevent sand from sticking creating an overall better experience for the consumers.  This sand repellant product could be sold online or to convenience stores such as Walgreens or CVS which could then be sold to customers.  Bundling this product with sunscreen would be a smart tactic because people who attend the beach need sunscreen.  Selling this sand repellant spray with sunscreen would increase awareness of the product and allow people to solve the need of sun protection and sand prevention.  At this time, I do not know how much it would cost to sell this product, but I would like to say in the $15-$20 range.  This price would be for a spray can about the size of the typical size of a spray can of sunscreen.

Venture Concept

To prevent sand from sticking to the skin people use convenient beach showers and towels but neither get the job completely done.  A sand repellent spray on product would be unique and help solve the need for a solution that sand creates.  This product would solve an unmet need which is why consumers would purchase it.  This innovation would not be too expensive and allow for adults to purchase the product and receiving something that works as described.  I think customers would switch to this product because the use of towels and showers does not get the job completely done.  Towels get some of the sand off and showers can get some off as well hut there is always a residue leftover.  The use of this product would get the job done better which is why consumers would switch to it.  Competitors would be potential sellers with sand repellent products.  For example, there are companies that sell sand repellent towels.  These sand repellent towels may be purchased and used to wipe away sand off the skin.  Additionally, a weakness or vulnerability of this product may be production.  I do not know how much it would cost to create this product this could affect the price and quality of packaging.  The packaging would have to be appealing for customers to buy.  Also, price is important because if it is too expensive customers may not want to purchase it and could result in using other things such as beach towels and beach showers.  This business would not have many employees.  Ideally, this product could be produced and sold directly online or to convenience stores.  Limiting the number of employees could lead to more profits to be made. 

What you think your most important resource will be.

I think my most important resource is   knowledge that who you know sometimes outweighs what you know.  Networking and building connections are extremely important when starting a business.  I may have a large depth of information but still can use help from others to succeed.  Being able to understand to continue to network and make connections can be a very important resource to have.

What’s next for the venture?

I would like to eventually be able to combine the sand repellant spray with sunscreen.  Combining these two things would solve two needs with a single product.  This would be unique and allow customers to solve multiple needs.

What’s next for you?

I would like to see exposure of the product and know that customers understand how it solves a need and buy and use the product for its intended purpose.  Having a successful idea that can solve customer needs is the goal for many entrepreneurs.  Having a successful product would allow for me to increased promotion and ability to try and extend the product line to other products that are relatable.

22A- Elevator Pitch #3

Overall, the feedback I got for my elevator pitch was positive.  I was told not to change much so I tried to keep all the information the same.  The only thing I tried to work on was speaking clearly while also keeping a good enthusiasm.  I think my timing was great and I did not rush.  I tried to use hand motions but being in a sling I think i did the best I could.  I did not want to change much but I think i am getting close to perfecting my elevator pitch.  Maybe in the future I can work on talking more about the product or how it can help consumers but i think overall I did well.  I wanted to try and film this at the beach but I ran out of time.  Maybe next time.

23A- Your Venture's Unfair Advantage

1.      Hardworking attitude and desire for success.

Valuable: This resource is valuable because to be successful you need to give it your all and do everything to the best of your ability.

Rare: I would say this is not rare but to make it rare be the best at anything you do.

Inimitable: Being hard working is not hard to copy but takes effort.

Non-substitutable: There are other qualities that can replace hardworking.

2.      Experience going to the beach and facing sand as an obstacle.

Valuable: This is valuable because having this need shows that there is a clear need that needs to be addressed.

Rare: Having an experience and showing there is a problem is not rare.  Many people have this experience when going to the beach.

Inimitable: This experience shows there is a clear need which cannot be copied.

Non-substitutable: There is not much that can replace having first hand experiences.

3.      Contacts and knowledge from people selling beach products.

Valuable: Having contacts in this specific industry is very valuable.  These contacts can be a reference for any advice or questions.

Rare: Having contacts and knowledge is not rare.

Inimitable: Having specific contacts and knowledge is hard to copy.  These contacts are built on relationships.

Non-substitutable: It is hard to substitute contacts for other resources.

4.      Concerns and information from frequent beach goers.

Valuable: Having people who see a need voice their concerns for a problem is very valuable in solving the need.

Rare: This is not rare because people have concerns and bugs about many things.

Inimitable: Since people have many concerns it would be hard to copy.

Non-substitutable: This could be replaced with questioning about solving a problem rather than having direct concerns.

5.      Proficient in using technology.

Valuable: For a business I think being proficient in technology is very valuable to help reach new markets and promotion.

Rare: In 2018, this is not rare as many businesses are getting better at with using technology.

Inimitable: The use of technology is easy to copy.

Non-substitutable: New technology is advanced and could not be substituted for an advancement at this time.

6.      Ability to manage finances successfully.

Valuable: For a business being able to manage finances for revenues and expenses is very important.  Having experience in this is helpful.

Rare: Businesses must be able to do this successful to succeed so this is not rare.

Inimitable: Being able to do this can be copied but to the extent it is matters upon success.

Non-substitutable: This cannot be substituted.

7.      Good communication skills and ability to listen and take advice.

Valuable: Being able to listen and communicate while taking advice is very valuable resource to have. 

Rare: Being able to take advice can be rare because sometimes people do not want to listen to others.

Inimitable: This can be easily copied but takes time and effort.

Non-substitutable: This is hard to substitute because listening is very useful.

8.      Knowledge that who you know sometimes outweighs what you know.

Valuable: This resource is a very valuable on to have.  Having knowledge on a product is great but sometimes who you know is more important to help advance your idea.

Rare: Knowing people is not rare but knowing the right people and making great connections may be hard.

Inimitable: Making connections and networking is not hard but some people may be more helpful than others.

Non-substitutable: Making strong connections cannot be substituted.

9.      Desire to create a useful and beneficial product.

Valuable: This is valuable because making a product that is useful and successful is the end goal.

Rare: For a business this is not are as this is the goal for many.

Inimitable: The can easily be copied.

Non-substitutable: This can be substituted by other resources such as hard work.

10.  Having relationships with other businesses.

Valuable: This is valuable because when creating a product having connections with suppliers and distributors would be great.  My neighbor owns a business o talking to him has bene helpful.

Rare: This is not rare because relationships among businesses is common.

Inimitable: Having strong relationships can be copied.

Non-substitutable: These relationships cannot be substituted.

I think my top resource is   knowledge that who you know sometimes outweighs what you know.  Networking and building connections are extremely important when starting a business.  I may have  a large depth of information but still can use help from others to succeed.  Being able to understand to continue to network and make connections can be a very important resource to have.

20A- Growing Your Social Capital

Domain Expert:

1)      Who they are and what their background is

I contacted Kathy Benson who is the key account manager for the product pro towels which is a company that sells sand repellent beach towels.

2)      How the person fills the spot.

Kathy Benson is a domain expert because she is the account manager of a product that has similar features to the product I want to sell.

3)      A description of how you found the person and contacted the person.

I spent time searching the internet for sand repellent products that would be comparable to the product I was trying to create and found the pro towels website.  While on the website I looked for a reputable representative to talk to and found the email address of Kathy Benson.

4)      The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?

I sent Kathy an email asking her questions about the sand repellent towel product that they sell.  One thing in specific I asked was if they had any specific feedback that she could share about the customer’s satisfaction levels about the product.  I also wanted to know if she would be willing to share her thoughts on my idea of a sand repellent spray.  I hope to get a response, but I understand people are busy.

5)      How will including this person in your network enhance your ability to exploit an opportunity?

If I decide to further my idea, I hope to keep Kathy Benson as a resource that I could reach out to about the ways to advance the product to satisfy the customer desires of sand repellent products. 

Market Expert

1)      Who they are and what their background is

I contacted Sarah Jacobs who is the owner of a small beach product distributer.  She sells unique beach products such as nifty chairs, bags, and toys for kids.

2)      How the person fills the spot.

Sarah fills this position because we have the same target audience that we are trying to reach which is parents who go to the beach with their kids and families.

3)      A description of how you found the person and contacted the person.

Sarah is a family friends with my neighbor, so I was able to get her phone number to have a short conversation with her to talk about her business and her thoughts about my product.

4)      The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?

I presented Sarah my elevator speech to discuss her thoughts on my product and ways to improve my idea.  I enjoyed hearing her opinion due to her level of expertise on selling beach products to local families in south Florida.

5)      How will including this person in your network enhance your ability to exploit an opportunity?

I enjoyed our conversation.  I am not sure how she can help me but I think having Sarah as a contact can be helpful as she said she would answer any questions I have in the future. 

Supplier Expert

1)      Who they are and what their background is

I contacted Eytan Benzeno who is the manager of a beach product supplier website called beachstore.com

2)      How the person fills the spot.

This person fills my need because he is a large supplier of beach supplies in the south Florida area which I consider to be a large portion of the target customers I want to reach.

3)      A description of how you found the person and contacted the person.

This part of the assignment I had some trouble with.  However, I found the website and tried to find someone I could contact.  I ended up finding Eytan’s email on linkdin and sent an email.

4)      The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?

I was only able to send an email to Eytan asking some questions about supplying beach products.  I also included a link to my elevator pitch and asked for suggestions, but I have not got a response back yet.

5)      How will including this person in your network enhance your ability to exploit an opportunity?

I would love to get a response from Eytan but as of now I have not received one.  I understand that not all networking opportunities pan out but this assignment has shown me that it does not hurt to try.

Finally: Reflect.

At first, I was a bit reluctant to extend my comfort zone and reach out to people who could help my networking.  However, this assignment has taught me that it is okay to ask people who have experience for help and advice because they are usually readily available to provide some input.  In future networking opportunities I hope to gain new contacts that can help point me in the direction of success.

21A- Reading Reflection 2

1)      What was the general theme or argument of the book?

Overall, I enjoyed the book, How to Fail at Almost Everything and Still Win Big by Scott Adams.  Scott Adams preached simplicity throughout his book and went from working behind a desk to the creator of one of the most well-known comic strips Dilbert.  Throughout the book, we learn about many of Scott’s failures, one for example is his idea to create a dill flavored burrito.  While learning about these failures he explains the ways you can learn from these failures to become successful as well as trying took look at the world in a different way.  Scott Adams also highlights ways to think to succeed such as passion is bullshit, stay steeped in failure, goals vs systems, appearance matters, and deciding versus wanting.  Learning from failure Scott Adams explains that goals are for losers and day to day acting and always doing the next step.  Also, it is important to decide and take action as opposed to just wanting something.

2)      How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

I think this book connected well with what we are learning in ENT3003 because it is important to understand that failure is not the end but rather an obstacle to overcome.  Becoming a successful entrepreneur is a process and cannot happen overnight.   As Scott Adams said one must try and fail, learn, and grow to succeed.  I think understanding that failure is a part od success is important thing to understand as an entrepreneur.  Additionally, having desire, being hard working, and having an appetite for success can put an entrepreneur on the path to success.

3)      If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

One thing I learned from this book is the importance of affirmations to become successful.  Scott Adams said that he would write down what he wanted 15 times in a row.  This would help him stay on track and generate ideas to become successful.  In the end, this affirmation led to the creation of the Dilbert comic strip.  I think the exercise of writing down what we want 15 times in a row would be a successful exercise and one that would not be that hard to do.

4)       What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations

The biggest surprise while reading this book was what Scott Adams said about being selfish.  Scott Adams explains that there are three kinds of people which are selfish, stupid, and being a burden on others.  Given these options, there is only one logical choice which is to be selfish.  Many people struggle with creating a balance between being selfish and not selfish enough.  However, the example Scott Adams has given shows that as an entrepreneur being selfish is the only way to succeed.  I would not expect being selfish as a positive quality to consider when running a business.  I now see that successful entrepreneurs must be selfish ad dedicate countless hours of time and dedication to become successful.

19A- Idea Napkin 2

1.      You- I am a 19-year-old from south Florida.  I love sports, traveling, and trying new things.  I am very organized, determined, and am proficient in time management skills.  I have worked a variety of different jobs which has taught me how to balance my finances.  I see opportunity in the business concept I created of a way to prevent sand from sticking to the skin because I see this as a potential need.  Growing up in south Florida my family and I often attended the beach which has given me experience on how to address this need.  Additionally, while reviewing peer reviews the people from south Florida agreed that there is a need to prevent sand from sticking to the skin.  I value this feedback because it has proven there is a need.

2.      What are you offering to customers- At this point the product I am trying to offer to customers is an idea that needs to be developed.  I want to create a spray on product that would be used at the beach to prevent sand from sticking to the skin.  I have no experience creating such a product so as of now this is just an idea.  One of the feedbacks I got said my product would be successful if I had a patent.  I do not have the knowledge or understanding of that process right now but I agree that a patent on this product could be very beneficial to differentiate my products from others.

3.      Who are you offering it to- This product would be most useful for people located near the beach.  Originally, I was narrow minded and put that this would include most Florida residents because of the location near the beach. I agree with the feedback I got that this product could be used by all people who frequently attend the beach which could include people worldwide as there are many beaches around the world.  I still conclude that the target customers would also be mainly adults both male and female in the age range of twenty-forty as they are the ones most likely to go to the beach and use this product.  This product would be ideal for people of middle class income with families as opposed to adults who are always working and have no or desire to go to the beach.

4.      Why do they care- When going to the beach, there are ways to attempt to wash and wipe away sand.  These options may be the use of a towel or the local showers provided.  The people who gave me feedback agreed that these options do not typically do a good enough job to get all the sand residue off.  This has reassured me that a spray that prevent sand from sticking has value because it’s an added way to prevent the irritation and annoying factors associated with sand including the main reason of getting sand in the car. 

5.      What are your core competencies- With the feedback I have gotten from this assignment I think a patent on my idea would be able to set this idea apart from others.  This would allow my product to be unique, so other competitors could not replicate it.

I think the five items fit well together for the overall concept of solving a need with the introduction of a product or service.  Using my experiences with the beach and sand I was easily able to link all the answers to fit together.  Additionally, talking to people about their potential needs has helped me answer the questions for the idea napkin.  At first, I was not sure how to differentiate my product but with feedback can see that getting a patent would make this product unique as it could not be replicated.  Without a patent, anyone could create this product if it were to become popular.

Feedback Memo-

Overall, I found the feedback for my idea napkin very helpful because I had five people respond to my post.  One point that I think really helped me was that the majority of the people who gave feedback enjoy going to the beach but agree that sand can be annoying.  This feedback was helpful because it shows there is a need for opportunity which is one of the first questions that needs to be answered as an entrepreneur.  The second feedback I got that I thought was helpful was the idea of considering a patent.  I don’t know how this would be done but this idea would help make my product unique so it could not be replicated.  I used the feedback on this assignment to further my ideas on the idea napkin.  This included going into more depth on what the product is and who I would target.  I appreciated all the feedback I got.