Peyton Whittington: ENT 3003

1. Opportunity To explain the need I'm fulfilling with my product, I'll first show a few memes made by people who are likely in my target market: You get the idea. Most people do their makeup in their bathroom or at their desk. The lighting in these situations can be very poor, so one only knows whether they've done a bad job blending their makeup once they step out into natural sunlight.  There is a need  for a way to simulate natural sunlight indoors.  My  potential customers  include makeup enthusiasts and makeup artists. Anyone who is truly dedicated to applying their makeup flawlessly is in need of consistent, favorable lighting for makeup application. Makeup artists also have this need, as they are always working in different spaces and, as a consequence, inconsistent lighting to meet client needs. Although they don't have the need themselves, I believe that I have a promising market in hotel and Airbnb owners. Services are entirely based on intangib

1. I think my exit strategy will involve expanding the business for a decade or so and then selling it. I think that my knowledge and tastes concerning makeup have a shelf life, and one day my products will be irrelevant. I think I will sell the business before that happens. That way, some ambitious newcomer can make something of the brand name and I can retire. 2. As I've stated in previous posts, many big names in the makeup industry will start by selling one product and then expand into other product lines. I hope to do the same thing since I obviously love makeup and would like to create a makeup collection of my own. Expanding the business for 10 years or so will give me the time I need to establish my brand name and accomplish everything I want to accomplish before selling. 3. I really hadn't thought of my exit strategy before now since I was so concerned with getting my venture off the ground. I think I was aware that whatever I chose as my business idea for this cou

For this reading reflection, I read  Coco Chanel: An Intimate Life  by Lisa Chaney. This was, by far, my favorite book that I've read this semester! What a terrifically researched biography.  1) You read about an entrepreneur: What surprised you the most?  From the beginning of the book, I was surprised that Chanel had such a rough start to life. Her childhood and young adult life were so tragic it was almost like a soap opera. Many entrepreneurs have a sad, if not atypical backstory, so I guess I didn't expect her to come from a loving home with a white picket fence. Still, the story of her wayward father, her mother's untimely death, and her upbringing in a convent was entirely new to me. It made me appreciate her success that much more. What about the entrepreneur did you most admire?  I think the quality of Chanel's I admired most was her love of work, not for money or fame, but for the freedom to do as she pleased. She grew up very poor and would depend on h

1. You know when you're about to fall asleep and your brain says, "Hey, why don't we think about every embarrassing thing you've ever done at length?" Yeah. The instance I'm about to describe falls under that category. Remember Assignment 16: What's Your Secret Sauce? It was arguably one of the most involved assignments we've been given this semester, only because we had to record our interviews, upload them to Soundcloud, and embed the recordings into our posts. I had all my interviews laid out and loaded into my post except one. I arranged to have a sleepover with my two best friends so I could interview one of them for the assignment. All I had to do was remember to interview one of them before we commenced our night of music video dance parties and fatty foods. Simple, right? Wrong. Very wrong indeed. I bade my companions goodnight, and just as I closed my eyes at 11:58 p.m., I remembered the reason for this sleepover, yet unfulfilled. I jo

Existing Market What I think is next: Assuming the launch goes well, people are buying from my website, and the mirrors make their way to the shelves of Sephora and Ulta, I think my customers will want different shaped mirrors next. Some might want a full-length mirror to get the whole outfit in, some might a small mirror to keep on their desk, etc. I also think we can start making different colors and border designs to fit different room aesthetics. After all, a room with a rustic feel and a room with a mod feel are going to need two very different mirrors.  Interviews:  Boy, my predictions for what's next for my market couldn't be further from what my interviewees saw as the future of my brand. I know that this is the point of doing assignments like these, but I'm always both shocked and impressed by how far my interviewees' answers seem to be from my expectations. I interviewed a few more of my friends who are into beauty and skincare, I will say that all of them

1. Opportunity To explain the need I'm fulfilling with my product, I'll first show a few memes made by people who are likely in my target market: You get the idea. Most people do their makeup in their bathroom or at their desk. The lighting in these situations can be very poor, so one only knows whether they've done a bad job blending their makeup once they step out into natural sunlight.  There is a need for a way to simulate natural sunlight indoors.  My potential customers include makeup enthusiasts and makeup artists. Anyone who is truly dedicated to applying their makeup flawlessly is in need of consistent, favorable lighting for makeup application. Makeup artists also have this need, as they are always working in different spaces and, as a consequence, inconsistent lighting to meet client needs. Although they don't have the need themselves, I believe that I have a promising market in hotel and Airbnb owners. Services are entirely based on intangib