My Entrepreneurship Journey

30A – Final Reflection Highs & Lows This has definitely been an interesting semester, and I really enjoyed taking this course because it was a different experience from a typical business course. While I enjoyed the critical and creative thinking that this class required, there were times where I felt frustrated. Toward the end of the semester I began to like my business idea (Breth-A-Lock) less and less. I found myself wanted to go down a different path or into a different market. This made some of the last assignments harder to do. However, while I was doing some of these assignments I would get those ‘aha’ moments. These moments is what made this class so enjoyable, I felt like I was accomplishing something. Formative experiences I had a few experiences that were very formative in this class. As I mentioned above, the most enjoyable part of this class was the ‘aha’ moments. For example, my idea to connect my company to Uber and Lyft to encourage driver...

29A – Venture Concept Opportunity Who has the need?             According to the United States Department of Transportation, there were 10,874 people killed and over 300,000 people injured in accidents involving an intoxicated driver. Another statistic says that in 2013, 28.7 million people admitted to driving under the influence. These statistics show how detriment the need is for a device, such as Breath-A-Lock, to stop people from drunk driving. So, who specifically has the need for this product? In short, anyone who drives and consumer alcohol has this need. This can include those under the age of 21 because there is a large trend of underage drinking and driving. Under the umbrella of this very wide range of people who have this need, I have identified specific groups of people who have this need: -        Concerned parents of teens who worry about their children drinking and...

28A -   Exit Strategy             In five years I will be ready to sell off my business idea. I hope that in five years my business has obtained steady growth, making it an appealing investment. Owning a company comes with many responsibilities and a lot of hard work. I think that the experience of being a business owner will give me skills that I could take into the workforce. I choose this exit strategy because I know where my passions lie, and unfortunately it is not with this company. I enjoy working in large teams of people and having the opportunity to travel to different parts of the world. My business model would not allow me to achieve this, thus I must move on and start a new endeavor.             I think having this exit strategy in mind made me think of my product in the short term, rather than thinking about what innovations I could ad in ...