Maria Pivaral-ENT3003

  Opportunity: Being a full-time student, growing up with working parents and being surrounded by busy people made me realized that there is an opportunity to help busy people out. Running errands is an essential part of people's lives but it is also an activity that takes up a lot of time. Many people also find errand running tedious and stressful. The opportunity lies with people that have busy schedules, cannot run errands themselves or dislike running errands. These people need a way for errands to be run for them to relieve their strain on their time or stress that is associated with running errands. This opportunity would be quite big as many people would rather have their errands done for them than do it themselves. Currently people hire delivery services but most of the time these services are specific to food related establishments.   Innovation: In order to exploit this opportunity, there would be a service that would run errands for people that do not have time to r...

My exit strategy would be to start the company up so that my vision is there. I would like to stay at the company but would like to partner with another company or investors as the company starts growing in order to have more financial backing to expand the business and as the company grows so does the financial risk.  As the company grows, I will need more capital and financing options. Expanding the business entails more risk. Because the risk is bigger I don't want to carry the weight of the risk by myself. I created a concept that would be attractive to my competitors as it would be an opportunity to partner with a competitor company. This strategy has influenced the way I will get resources as I plan to acquire more resources by partnering and reducing my financial risk. 

I read Coco Chanel by Lisa Chaney.  About the entrepreneur What surprised me the most about Coco Chanel was her past. When she was growing up she faced a lot of dark moments and it was not an easy childhood.  What I admired the most was how hard she worked to achieve success and how she was not afraid to be bold, innovative or take risks.  What I liked the least was her bad habits like her multiple affairs and her substance abuse.  Coco Chanel did encounter failure, she received lots of rejections but she persisted until she found her way and found success.  I think that Coco Chanel's perseverance was her greatest competency. She was able to overcome a lot of adversity and embrace success.  I feel like the book explained a lot about her professional life but there were many gaps in her personal life. For example, I don't feel like I had good insight to a close relationship she had with someone. The two questions I would ask her would be Do you think that yo...

The second half of the spring semester and the summer term have been especially hard for me academically. I have found it hard to remain motivated and stay on track with my classes. I feel like I have failed this past semester.  1. I was taking STA 4321 during summer A for my statistics specialization. This class is hard because it is a lot of material covered in one lecture and it is hard to catch up if you miss a few. The style my professor was using to teach was not easy for me to retain the content. I had wanted to get a grade between an A-B+. The first test was really hard for me. I struggle with test anxiety and my head block during exams so for the first exam I was struggling a lot with anxiety and ended up getting a bad grade. After this exam I changed my study methods for the second test. I grasped the material a little better but still did not get the grade I hoped for. I adjusted my methods for the third test and I got the score I was aiming for. At the end of the semest...

Opportunity: Being a full-time student, growing up with working parents and being surrounded by busy people made me realized that there is an opportunity to help busy people out. Running errands is an essential part of people's lives but it is also an activity that takes up a lot of time. Many people also find errand running tedious and stressful. The opportunity lies with people that have busy schedules, cannot run errands themselves or dislike running errands. These people need a way for errands to be run for them to relieve their strain on their time or stress that is associated with running errands. This opportunity would be quite big as many people would rather have their errands done for them than do it themselves. Currently people hire delivery services but most of the time these services are specific to food related establishments.   Innovation: In order to exploit this opportunity, there would be a service that would run errands for people that do not have time to run erra...

Resources in my venture My network is pretty substantial V: this is valuable because having a good network helps you by giving you new or more opportunities. R: it is hard to grow your network but is very important for the growth of the company I: others can have a large network but it isn't necessarily the same as mine N: everyone has their own network The service doesn't exist yet V: this is valuable because it is a good opportunity that no one has exploited yet and can attract investors.  R: no one has this service I: this will be the first model of this service N: there are similar services that could be similar and be used as a substitute Costumer Service V: it is valuable because if costumers are satisfied with the attention to them they will probably return R: many companies have costumer service but having great costumer service sets companies apart I: costumer service experience is unique to a specific company N: it is non substitutable Service Quality V: by giving a g...