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 25: What's Next?

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...

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 29: Venture Concept No. 2

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 ...

Peyton Whittington: ENT 3003

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