ENT 3003 BLOG

Steve Jobs, Walter Isaacson 1. What surprised me the most was the reasoning for the title 'Apple'. Not only does this come from Jobs' satisfaction with apples at the time the name was due, but also the simplicity behind an apple as a symbol. Most importantly, this became the name because Apple comes before Atari in the phone book, as Jobs' previously worked for this company and didn't want his competitor to show up first in the phone book. This reminded me of what we discussed in class about website title importance for Google search results and how that reflects awareness. I admired Jobs' confidence to go against the normal during his time of getting a college education and doing well in school, all while becoming one of the most well-known entrepreneurs to this day. He was extremely determined and was unaffected by his multiple failures. He had a viewpoint on life called a "reality distortion field", in which no matter the challenges, i...

1. I have used the behaviors of consistent reflection and awareness to my everyday life and surroundings in order to understand buyer behavior and the elements of entrepreneurship explained in the course. I have learned to communicate with various types of people relevant to assignments and how to properly interview those people. I have gained critical thinking skills thinking deeper and thinking differently throughout the course of this class. 2. I felt like "giving up" when I was unable to find an opportunity that I felt passionate and confident about at first. I was able to "pull through" this issue by expanding my realm of ideas and writing down all my thoughts, regardless of the relevance. From this, I was able to gather all my thoughts and form an opportunity I felt confident about. I feel like my attitude towards identifying opportunities and understanding the entrepreneurship process has certainly strengthened from this course. I can now better understand ...

Segment:  The segment I chose is those of all ages new to the gym or new to a specific gym membership (3 months or less). I did not confine this to a specific location or gym. Interviews: Person 1 Female, age 49 Need awareness: She experiences this need whenever she enters her new gym alone, which is 90% of the time. She feels intimidated going alone because many people at her gym are experienced and "look really buff". She also mentioned her own confusion with some of the equipment and feels equipped on her own. She would prefer to workout with a partner but cannot find someone who will go with her, as she trains before work early in the morning. She also does not have the financial means to purchase a package with a personal trainer.  Information search: She often will skip certain machines that she is uncertain of how to operate or will finish a workout early if she feels intimidated or if the gym is filled with people. Sometimes, she will skip a workout entirely...

1. You: I am a general business major with a specialization in statistics and an actuarial science minor. I am involved with many organizations on campus as well as working as a certified personal trainer. I aspire to help others improve their mental and physical health through fitness. I also am eager to gain invaluable entrepreneurial skills through taking and completing this course. I aspire to create a program within a given company that matches gym members with 'buddies' to train with as well as keep as an accountability partner. As a personal trainer and someone with a passion for fitness, I see this business perfectly fitting into my lifestyle and my goals. I want my clients as well as any gym member to feel acclimated and comfortable in a gym setting so they will continue purchasing the membership. 2. What are you offering to customers?: I will solve the unmet need of gym intimidation by offering a service in which members of a given gym will fill out a survey based...

Interview 1: Female age 29 She hardly ever experiences this problem because she feels as if having a gym partner is too distracting and does not result in a good workout. She is an experienced lifter who values her alone time at the gym. She mentioned that if she ever needed a spot or help in other ways, she would simply ask an employee for help as she is friends with many of them at her home gym. Interview 2: Male age 32 He doesn't experience this problem because he has limited time in the gym, thus his workouts are done in a timely manner. He couldn't have a gym partner because it would slow down his workouts and he goes to work directly after. He mentioned that he "is in and out" and doesn't consider gym intimidation because he is there for such little time. He also goes at 5am when hardly anyone is there, so the gym intimidation felt is probably decreased due to the smaller number of people. Interview 3: Female age 24 She feels indifferent about t...

Opportunity:  There is an opportunity to decrease gym intimidation in commercial gym settings in attempts to increase member frequency and satisfaction. Product/Service:  I believe one extremely beneficial way to reduce gym intimidation and improve confidence is to workout with someone else. This way, most if not all the various reasons associated with gym intimidation are resolved; including issues of insecurity, sustainability, confusion, and embarrassment. The product is an outreach effort from a commercial gym or large fitness corporation in attempts to pair members together with a gym 'buddy'. This will consist of either a written or online survey in which members of the club will fill out information regarding their fitness preferences/style, experience levels, workout time preference, interests, age, etc. Pairs will be matched from the corporation to all paying members. In order to increase awareness and participation of the program, the gym could suggest a personal t...

Opportunity: Many people experience gym "intimidation" in a public gym environment due to the variety of experience levels, confusing equipment, and physique insecurity. A lack of a workout partner may exemplify these feelings enough for a potential frequent customer to refrain from continuing. The who ?:  New or inexperienced commercial gym members The what ?: They are having feelings of intimidation at the gym The why? : Variety of experience levels, confusing equipment, physique insecurity, and a lack of a workout partner Hypothesis:  Testing the who: As well as those looking to create a healthy lifestyle for themselves, the who also concerns commercial gyms who may be losing frequent customers due to gym intimidation. Meaning, members who stop going to the gym often cancel memberships and quit entirely, decreasing revenue to the company, Testing the what : The boundaries of this need would include people who do not feel a sense of intimidation at the gym or t...

Economic Opportunities  "What the Stock Market May Be Missing About the Coronavirus" a. Source: Article listed on foreignpolicy.com and another from the Wall Street Journal b. The article contained information regarding the recent outbreak of coronavirus in China. Specifically, it recognized the effects that the disease may have on the stock market and investor behavior. This suggests an opportunity for investors to take advantage of decreasing stocks and invest possible capitol if pursuing the belief that the outbreak will be short-lived. c. The prototypical customer is investors seeking to boost sources from the economy, businesses and medical professionals with relation to the disease and its effects. d. This opportunity is not difficult to exploit, but predicting the consequences of the opportunity is. Because of the large amount of uncertainty in the stock market and of the disease growth itself, it is extremely difficult to tell whether the disease will produce ...