Sashi Entrepeneurship

1) It's interesting to see how my posts have evolved as my business plan has evolved. I totally forgot about my first idea to make a fix for scooter drivers. In my 4th post in this class, I discussed the ongoing problem of driving scooters when it is cold out or when it is raining, both of which are unbearable and sometimes impossible! Seeing how my ideas have evolved and how I have changed ideas in my phone insurance plan are very interesting. 2) My best experience in this class was probably the summary of my main entrepreneurial pursuit. I will always remember my idea for a no questions asked, "free" phone repair for people who pay for the ongoing service. This is because this is something I wish really did exist and I know so many people who wish this was a real thing. I am most proud of myself for coming up with this idea, as if I or anyone ever tried to replicate it and it works, I would be so thankful that this could actually exist. 3) I definitely could s...

1) Opportunity: Paying for cell phones is a huge expense nowadays but also essential because it seems that in these days, nobody can live without a phone.  People, even if they are not wealthy, own smartphones and they keep increasing in price as seen in the new iPhone X which starts at one thousand dollars. Without a phone, people are prone to being stuck in a dangerous situation or not being able to make plans and get in contact with others. People rely on their phones to get places with the Maps app, rely on it to get around with bus apps (like RTs), to connect with friends over texting and phone calls, and use social media like Facebook, Instagram, Snapchat. Other apps like internet, compass, exercise apps, calculator, photos, etc, are very important to society. So what happens when something happens to your phone? It is essential to have one, so what do you do when it breaks or gets damaged. People are forced to pay huge sums of money to either replace or fix their cell...

1) I think that my exit strategy would definitely depend on how things went after I started the business. If it didn't too as great as I imagined, I would sell it. But, if it became very successful I would stay in it till retirement and then probably hand it off to my children, so I know they would be working in a leading company and probably end up being successful. 2) I would choose the latter part of my strategy most likely (because hopefully my business will be successful) since this would be, most beneficial for me as I can reap the benefits of my business and it will be most beneficial for my family since they can have a solid business to support themselves with. 3) It has probably influenced my growth intentions and how I plan to acquire and use my resources. To explain, in order for my to exit my company at retirement, make it a family business, and hand it down to my children, my business has to be successful and generate profit. To make this happen, I will want to ...

I read Grinding It Out: The Making of McDonald’s, Ray Kroc 1.) What surprised me most is that the first menu item they wanted to add besides just selling hamburgers was a fish sandwich, which was not an item that relates to the chain too well. I most admired how diligent Ray Kroc was in his business methods. He was very specific about things like timing and the concept of fast food, he nailed everything down to a tee and was very specific in his details of the whole operation. I least admired the fact that Ray gave up ownership of 60% of the company to Multimixer, which was a bad idea in the end. 2.) I noticed that the entrepreneur had a lot of diligence in sticking to his original ideas and not straying from his main goals. He had a goal in mind and did whatever he could to implement it the best way possible, which is essentially why it is now the largest food chain in the world. 3.) Nothing was too confusing, it was a pretty easy read. 4.) I would ask Kroc why he decided...

1.) A time when I failed at something was when I tried not eating sugar for a week. It was so much harder than I expected, and I do not usually have a sweet tooth or crave desserts, but just knowing that I couldn't have it made me want sweets so much more and they tasted so much better. 2.) I learned that eating desserts in moderation and not all the time actually makes them taste better and you appreciate the flavor and sweetness even more than usual. I also learned that my will power is weak and I will give into my desires, but that's what life is worth living for. 3.) Failure is hard but it is also a good thing. It is hard to accept when you fail at something or slip up, but it also helps you learn from your mistakes or learn from the experience. It helps you improve and next time you will probably do better than your first try. This class has for sure taught me that even though you may make mistakes along the way or have to take a step back and reevaluate your plans, i...

Existing Market: (millenials) From my interviews, I realized that while my idea is solid, I need to make money while also keeping my prices affordable for anyone with a cell phone to have. They all agreed that having a fixed monthly fee in conjunction with there current phone plan fees would be the best because then it would be more affordable than charging a huge price at once. Also they recommended that after each time someone gets their phone fixed, that their insurance prices increase a bit to prevent people from taking advantage of the system. Also, one interviewer was skeptical about how I could form good relations with other phone companies. I told her that I would give them part of my profits, which may or may not be feasible. In terms of growing my existing market, making sure I have affordable monthly fees is important since young people don't have too much money yet. New Market: (elderly/nonusers) My new market would be people who do not currently own smart...

Opportunity: Paying for cell phones is a huge expense nowadays but also essential because it seems that in these days, nobody can live without a phone.  People, even if they are not wealthy, own smartphones and they keep increasing in price as seen in the new iPhone X which starts at one thousand dollars. Without a phone, people are prone to being stuck in a dangerous situation or not being able to make plans and get in contact with others. People rely on their phones to get places with the Maps app, rely on it to get around with bus apps (like RTs), to connect with friends over texting and phone calls, and use social media like Facebook, Instagram, Snapchat. Other apps like internet, compass, exercise apps, calculator, photos, etc, are very important to society. So what happens when something happens to your phone? It is essential to have one, so what do you do when it breaks or gets damaged. People are forced to pay huge sums of money to either replace or fix their cel...