Skip to main content

Assignment 30: Final Reflection


1. I think my greatest experience is just completing this class in general. I chose business as my outside concentration for my major because I thought it'd be useful to me in the future, but I was pretty scared to delve into something I didn't know about. I'm not a business-minded person at all, so I wasn't sure what to expect from this semester taking two business classes. Assignments like the venture concept and idea napkins were difficult for me because they required a type of forward-thinking that I wasn't used to in the fast, in-the-now world of journalism. However, apart from my little boo boo I described in Assignment 26, I pretty much kept on top of things for this class and I think I did pretty well. This class taught me that I can try new, scary things and succeed, as long as I keep an open mind and persevere!

2. Alas, I am as much of an entrepreneur now as at the beginning of the class, and that is to say I am not an entrepreneur at all. I've taken a peek behind the curtain to see what entrepreneurs really do, and I know now that it isn't for me. I don't like risk, uncertainty, or making predictions based on assumptions. It goes against my nature as a journalist. However, I do have much more of an appreciation for what entrepreneurs do, and I think this class has taught me to get outside my comfort zone a little more.

3. I would recommend that future students get in the habit of always working on something for this class every day of the week. Unfortunately, this isn't the sort of class where you can knock everything out in one day. It pays to always be a step ahead of the schedule. I would also recommend that they think of this class as a project. When you work on a project, it is something you're interested in and prepared to dedicate significant time to for the sake of moving the project forward. I know I'm guilty of thinking of classes as chores that just need to be done as quickly as possible. Choose a business idea you're truly interested in, think of it as a personal project, and I think you will thrive in this course.

Comments

  1. Nicholas LorenzoJuly 30, 2019 at 12:35 PM

    Hi again, Peyton! Great job as always, I see that you really but some thought and effort into your response to this week's prompts. I really appreciate your honesty for your response to whether or not you think entrepreneurship suits you after taking this course, it's great that you're able to reflect on your experience and grow from it in a way that is true to you as an individual. I think your response for the third component of this post was actually really helpful and great advice to incoming students, as I myself even wish I had been more proactive this semester with my work for this course. I wish you all the best going forward!

    ReplyDelete
  2. WadboyAugust 5, 2019 at 9:44 AM

    Hey Peyton! It's awesome how honest and self aware you are about your entrepreneurship abilities before and after taking the class. Although you still don't see yourself as an entrepreneur, what things do you think that you did take away from the class? I think that I started to look at the world through a different lense and have begun to seek out issues that I can fix. Although you won't continue to be immersed in the world of entrepreneurship, I wish you the best as you continue to pursue journalism!

    ReplyDelete
  3. Megan WordellAugust 5, 2019 at 8:25 PM

    HI Peyton! I've enjoyed hearing your idea develop over the course of this class and I think your conclusion is the perfect end to it all. I have to say, I too, don't consider myself an entrepreneur, even after taking this class...and I think that is okay! If we were all the same there would be too much competition. It's important to recognize the strengths we do have and build from there. Great work!

    ReplyDelete

Post a Comment

Popular posts from this blog

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...
1 comment
Read more

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...
3 comments
Read more

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 ...
3 comments
Read more