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30A Final Reflection

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1) Some of highs in this class was finally finishing this class. Although it was fun and great to learn, it has been difficult for me because I have had to think of things in a way I've never thought about them. I never saw myself taking a business-like class in college but I just finished mine. By taking this class, I have seen the challenges and struggles that real entrepreneurs have faced by reading their books and seeing how they rose above struggles and developed ideas that many other people would never think about.  2) What I will remember most about this class is the development of a small idea into an entire building block of a entrepreneurial idea. We started by saying "I want to help people have a healthier lifestyle" and from there we just developed that idea more and more until we had a full business plan. Creating something from essentially nothing was the best for me because I started no where and ended up developing something I am proud of.  3) I can s...
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29A Venture Concept No. 2

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Opportunity Individuals that are looking for a healthier lifestyle when it comes to treatment of certain medical, therapeutic, dietary, and/or religious aspects of their life. This is something people of all backgrounds can use. My potential customers are people that are seeking a beneficial change to their current lifestyle.  The nature of the need is about looking to change lifestyle decisions to become healthier. This My business proposal is the use of  homeopathic  essential oils that can help people live healthier and with less chemicals involved in their everyday lifestyle.  This market is defined  demographically  I  believe  for women more often than men because they will want the change that homeopathic treatments provide. At first, I would gear towards a market that may be open to these lifestyle changes and geographically  restrict  it to those in the continental United States.  Many people are looking towards hom...
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28A Your Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children? For my exit strategy, I would think about either selling it. If it were to grow as much as I would expect for it to grow, it would need to be industrial almost. I would want to same expectation and quality even it was in industry because I wouldn't want the quality of my product to decline just because it is monetarily more effective. I think this business idea would expand very much because many people are moving towards homeopathic treatments.  2) Why have you selected this particular exit strategy? I selected this strategy because I believe it would become too much to do something out of your kitchen at home. With the sale of my company, it could be to someone who ap...
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27A Reading Reflection No. 3

1) You read about an entrepreneur: This autobiography is a 1977 memoir by Ray Kroc, the man behind McDonald's. Throughout the book, Kroc discusses his career, how he failed time and time again, and where his career started and where it ended. The thing that surprised me the most about Kroc was that he didn't start this franchise until he was 52. I would've assumed he would've been younger when his McDonald's business boomed. I admired the devotion that Ray Kroc and his business partner had in their success and how it even became international. He [Kroc] changed everything about the American restaurant industry. One thing I least admire about Ray Kroc is how the progression of McDonald's food started out really good and today, it almost seems like dog food at times. His idea is also really unsustainable and bad for the environment but it continued throughout the decades.  2) What competencies did you notice that the entrepreneur exhibited?  Ray Kroc was...
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26A Celebrating Failure

1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time. There have been a few times during this semester where I failed. Some of it was my fault, like not studying enough for a test and I ended up getting a bad grade. Some of it was due to my job, things I really don't have control over. For my exam that I failed this semester, I think I was overconfident in the exam, thinking that it was going to be easy and simple and that I didn't really need to study. That's why I failed. It was all my fault, I should've known that college is way different from the things I did in high-school. For work, I'm a TA for a class and a lab technician. And these two things come together in the class. While teaching my students about lab processes throughout the semester, the professor and my b...
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25A What's Next

Existing Market Step 1: What is next for my venture is the introduction of these homeopathic products into therapeutic and chiropractic offices. This will be hard because medical communities may not support the use of these products in the office. The oils are known to have relaxation benefits that can relieve stress and tension in the body. Some applicable oils can help reduce pain in the body after a few uses. This could significantly impact a person when they are at either of these locations.  Step 2:  Lori: I would suggest a presentation of the benefits that homeopathic medication can have throughout a therapy session or a chiropractic session. This could probably enable people to understand your product and your intentions more and could have a positive effect on patients within each practice.  Sara: If there are individuals that already support the use of homeopathic treatments, you should have them talk to others ab...
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24A Venture Concept No.1

Opportunity Individuals that are looking for a healthier lifestyle when it comes to treatment of certain medical, therapeutic, dietary, and/or religious aspects of their life. This is something people of all backgrounds can use. My potential customers are people that are seeking a beneficial change to their current lifestyle.  The nature of the need is about looking to change lifestyle decisions to become healthier. This My business proposal is the use of  homeopathic  essential oils that can help people live healthier and with less chemicals involved in their everyday lifestyle.  This market is defined  demographically  I  believe  for women more often than men because they will want the change that homeopathic treatments provide. At first, I would gear towards a market that may be open to these lifestyle changes and geographically  restrict  it to those in the continental United States.  Many people are looking towards hom...
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