Week 5 Reading Reflection

Week 5 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? 

Answer: One of the biggest surprises of mine was in the section of the pitfalls in selecting new ventures. One of the pitfalls was not having real insight to the market. This was surprising to me because I guess before reading this chapter I never really thought about this because I haven't had a chance to "get into the market" yet in my life. 

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

Answer:There was a point in this chapter where it said "It should be understood that new-venture assessment begins with the idea and venture stage" but then goes on to say, "How ever most studies of new venture development deal with established start-up business." I was just confused on this because I don't get why it has to be an established start-up business, why can't I just be an entrepreneur and start a business out of anywhere.

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

Answer: The first question I would ask him would be if he preferred Lean start-up methodology over the design methodology? I am just curious to see as a renowned entrepreneur which one he would choose! The second question I would ask would be If he had ever had poor financial understanding since I saw that that was one of the pitfalls in selecting new ventures.

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

Answer: No, This chapter was pretty straight forward in the definitions and explanations. There was nothing I disagreed on, I actually learned a lot from this chapter. It was a very clear and easy read.

Interviewing Customers No. 2

I interviewed people walking by infinity hall this time! Everyone loved it on the first round and on the second round it seemed like everyone liked it as well! 

Answers to Questions:

1.)I honestly think that I'm going to go through with making something like this because I would use it all the time. It's gotten amazing feedback and it seems like everyone would get it.

2.) Yes, everyone I talked to I made sure that they had a car before I even started interviewing them because if they didn't have a car they wouldn't see the true potential of this app! This time I asked different questions to get more detailed feedback from these customers. I didn't have to adjust my conceptualization since I just needed to interview people who have cars.

3.) I asked more in depth questions which included asking them about parking garages as well as tow away zones which are extra "perks" that I didn't include in my first version.

4.) Everyone seems to think that my opportunity is very helpful and that I need to make it a real thing ASAP.

Three tips to give to students about interviewing for next semester:

1.) Don't be nervous, odds are that you will never see these people again.

2.) Make sure you are prepared with what you are about to say so you don't mess up or waste more time.

3.) Make sure to speak up and be loud so they hear exactly what you say!

Elevator Pitch No. 1

1.) The opportunity is that there are so many people that drive, yet have so much trouble finding parking around here.

2.) The solution is this app called iDrive. This app shows all available parking spots around your area so you can find a parking spot with ease. It also includes other functions which I explain in my elevator pitch.