Assignment 22: Elevator Pitch No.3

Reflection and changes: On my last pitch, I received the feedback to distinguish myself from market competitors in my pitch. I think this was a fair point since there are makeup mirrors on the market that attempt to solve the same problem I am addressing, but with the wrong methods. Most mirrors boast that they have strong, bright light, but that doesn't necessarily mean better quality lighting overall. Just because the light is powerful doesn't mean it is the correct hue or intensity. I think my mirror's unique ability to color correct lighting is what sets me apart from other vanity mirrors, so I included a line about this in my final pitch. I didn't change much else since I think I've got my pitch down to a nice length and level of description. I found that each of my takes hit around the 90-second mark pretty spot on, so I think I've got the timing down to a science.

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Assignment 28: Your Exit Strategy

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

Assignment 21: Reading Reflection No. 2

For this assignment, I read Clay Shirky's "Cognitive Surplus." (I really, ridiculously enjoyed it!) 1. The central theme of the book is how humanity's inherent need to socialize, share, and communicate can be harnessed via social media technology to coordinate action and discussion in an unprecedented way. This is called our cognitive surplus. Throughout the book, he cites various examples of curious human behavior that arose from the combination of humanity's basic desire to be social creatures and innovative forums for public discourse. It's a truly fascinating analysis of human behavior and how it has not been changed but given new opportunities through the Internet and social media. 2. I am taking two business courses right now as part of my outside concentration for my major. I've learned in both courses that a huge part of business is looking past what you think the reasons for consumer behavior are and trying to find the actual reasons that m

Assignment 18: Creating a Customer Avatar

My product will be sold to both business and individuals, but I will focus on individuals for this assignment because there are many more of them and I think they make the most interesting customer avatar. My customer is a 21-year-old woman who lives and breathes makeup. The centerpiece of her room is her vanity and she has her makeup separated by brand, type, and color. She subscribes to all the hottest makeup YouTubers and trusts their opinions on which products to buy. She flew all the way to LA once to go to Beauty Con and meet Jeffree Star, her idol. In fact, she even has her own beauty YouTube channel. She doesn't have many subscribers yet, but she's just happy to be putting her art out there into the world, you know? She lives in an apartment close to her college campus with her three girlfriends. She's a marketing major, but she's just doing it to please her parents. She knows she wants to be a makeup artist. She drives a silver 2011 Toyota Camry that has

Peyton Whittington: ENT 3003

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