Final Reflection

I think the thing that will stick out most from this class to my self is my venture that i made up for the class. The thing i am most proud of from this class is improving ways of communication with peers through the interviews we had to do for all the different assignments. I do not see myself as an entrepreneur or having the mindset from this course. The one recommendation i would make about this course is just to be careful with your time and put in the effort.








 

Reading Reflection 3

• Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, Ashlee Vance

1.The thing that surprised me the most was his personal relationships. He has been married three times already and two times to the same woman. The thing i admired most about Musk was that he cares. He wants to save humans and is continuously searching for ways to try and achieve that. His outside the box thinking is something that a lot of people can be appreciative of. The thing i least admired about Musk was that he was not family first.

2. The competencies i noticed that Musk shows was his ability to make a deadline. His dedication and will gave him this ability and im sure a lot of people thank him for that.

3. The thing that confused me while reading was some of his past business transactions and ventures.

4. Two questions

1. What was the most challenging thing you've done in your life so far?

2. When you were a child did you dream that the things you have done up to today was going to be possible?

5. I think Musk's idea of hard work is something that couldn't be imagined. His line of work is life changing so his "hard work" can't even be discussed.

Your Exit Strategy

My exit strategy would be to be sold within five years of activity. Hopefully by then the entire golf community is using and discussing my application enough for a big company to buy out the company for a great profit overall. I selected this particular exit strategy so i can venture on to other things in the future especially since i'd have my own funding. I think the idea of this being a relatively quick venture has had an impact on my exit strategy. It has impacted me on growth decisions and wanting to grow as fast as possible.

What's Next

The next steps for my venture are hiring the right people who can program and develop the application. Also getting the right people to set up advertisements and get the right companies on board with the app. Nest work be to put the app in beta testing and let who I currently know in the golf world to give it a try. Then they could use word of mouth to grow and help me get more and more feedback on the app. After the beta testing stage of development we roll out an initial launch to the public and make the necessary bug fixes and improvements based on initial costumer feedback. The great thing about the application is that once we launch we just have to keep one or two employees on to help performance and bug fixes on the app because once it's done it's done not too many improvement need to be made if the initial app does what it needs to do.

Currently i see my venture as a B2C market. If I wanted to get into a B2B  market I could sell to golf courses my app to be played strictly on their course in that area so they have a competitive advantage over other golf courses in that specific area. One initial lump sum could be a good thing. Also an exclusive partnership with a course could be appealing to advertisers to get into that course to advertise if they didn't already especially if it's on the higher end of golf courses.

Your Venture's Unfair Advantage

1. Technology Capability
Very valuable in producing the App
It's not rare
It can be imitable
No other resource can provide the same benefit

2. Human Capital
Very Valuable in getting the right people around for advertising and producing application
Rare resource in that the right people can be hard to find
Hard to imitate
Absolutely no other resource can provide same benefit

3. Financial Capital
It's Valuable but all the technology needed is already readily available
Non rare resource
Easily imitable
No other resource can provide same benefit

4. Social Capital
Very valuable to getting the foot in the door in the 'golf world"
Rare in that for this it's who you know not what you know
Can be imitable but is hard to be
No other resource can provide same benefit as this

I feel like human and social capital are tied for being my top resources available. Having the right people around you and knowing who to get you in the right place is very valuable and to a point of being priceless.

Venture Concept 1

So far this semester I have worked on an app for golfers. This app is called Green Reader. It reads the greens from where your ball is on the green to the hole and gives a line of best fit. It is for use on a smart phone and it is very accessible. It accesses the camera on the device and uses that to make the read on the green. The possible customers of this app are golfer who want to improve putting without putting in the time and effort of practicing because they either do not have the time or frankly do not want to. Reading greens and putting is one of the hardest things in golf to do and my app is there to help that. Currently golfers have an option of taking lessons on putting or hiring caddies, but those two options have an expensive price point and the average golfer does not want to spend that type of money to improve putting on the golf course. I see my idea as a big opportunity, and it appeals to all levels of golf and all levels of economic classes. For as long as golf is relevant this app has an opportunity to be around and to continue to help improve golfers. My app would be a paid for app costing no more than a monthly subscription of no more than ten dollars a month. It would include advertisement as another way of revenue to help improve the quality of the app of local golf courses and eateries at locations of which you are playing as well as tee time reservation apps and websites such as Supreme Golf and Golf Now. I think customers would use this product to improve their game at a price point that works for them. Improving at the game will allow it to become more enjoyable and in turn hopefully they would play that much more. Also, the app will be very easy to use allowing any age to be able to use it. The ease of access of the app will be my “secret sauce”. If the app is simple and does what it needs to and get to this market first and making the app do what it needs to will be a huge advantage to an untouched market. The great thing about the application is that it is make it, put it out there and forget about it. All that would need to happen is to have a person or two on hand to fix possible bugs with the app and to bring on advertisers. I won’t have to make it better and it will last for years to come. With this I would want to be able to expand in the next five years and get into different golf product investments. I think what I have now is a good starting point to make an initial income, but I believe that this app would create enough cash flow for different investments to be possible.

Celebrating Failure

One time I failed this past semester was outside of class. I golf quite a bit and for some reason my golf swing changed and I could not hit the ball how I was before and i didn't know what happened. But after work for a week straight i would go to the driving range and practice non stop. After a few days a realized what happened. In golf it's small changes that make a big difference and the thing i couldn't figure out what i was doing was I had messed with my grip on the club and it screwed me up so much. It was embarrassment after i figured out what happened and frustration.

Reading Reflection 2

I choose the book "How to Fail at Almost Everything and Still Win Big" by Scoot Adams. The general theme of the book was to try and always be proactive with your day everyday. If you can set systems for everyday then they will have a drive to get up and go onto accomplish these on a daily basis, Also you need to learn how to be able to accept failure and turn it into positive energy.

This book made me realize that i am in control of how i adapt to things good or bad and that if i put my entire self into something i can get it done. The book was helpful for this class because it taught me to believe in myself and what i put my mind to to be successful at whatever it is im doing.

An exercise i would design for the class based on the book was something that at first the class really struggled on but if they persevered through it, they would be reward at the end of it all.

While reading this book one of the biggest surprises to me  was when Adams discussed for getting goals and goals settings but set out a daily plan. With a daily plan or system its a procedure someone can get done everyday. This helped Adams stay positive and lead him down the slope to where he wanted to go.

Elevator Pitch 3

I have been sick for the past week and a half so i was not able to make any changes to my elevator pitch but if  i was able, i would have went more in depth on how the process of my app works and how to monetize the app to make it profitable.

Elevator Pitch #2

Create a Customer Avatar

I feel like my prototypical consumer of my product is any person age 18-65 who is serious about becoming a better golfer. I think hobbies would include golfing for business and/or pleasure as well as enjoying a variety of other activities. I think my company would be associated with lower and middle class people who don't or can't pay for lessons but still want to increase green reading skills.


The people using the app on the course probably have kids and they use golf to get away from home every so often and to keep enjoyment of the game up and to still improve while playing use the app.

I feel like i connect to my prototypical customer in a variety of ways. Using Golf as a way to get away from home, connecting with others, and to improve my game while on the course while not taking lessons off of it.

What's Your Secret Sauce

5 Things I Believe That Make Me Different

1. If I start something I feel inclined to get it done

2. Usually put all my effort into one thing at a time has it's pros and cons

3. Can work well in groups as well as alone

4. Ability to meet deadlines

5. If I enjoy what I'm doing I feel like the end product is way better than if i wasn't interested in doing it

Figuring Out Buyers Behavior 2

For the interviews i conducted I focused on interviewing people who have previously taken lessons on putting. I have concluded from these select interviews that the people who had taken putting lessons a very select few had received tips and tricks to actually reading the greens which is an important part of the putting process. Price for these lessons were very high and focus on how to actually putt than the entire process which is only half and reading the green knowing where to hit the ball and how hard is the other half. These customers were disappointed with how high the price was to receive only about half of what they needed to do and learn. In every interview the process to purchase the lesson they took was a one time fee with the person gibing them the lesson with cash proffered. They would purchase the lesson in person at whatever golf course they chose with a PGA golf instructor. All but one of the interviewees regretted paying such a high price to only learn half the putting process.

Halfway Reflection

1. I feel like with this course my time management skills have improved and the due dates of Friday's and Monday's have let me get into a rhythm of when i have to sit down and do the assignments.

2. Not sure if the "giving up" is talking about just this specific course or in any aspect of life in the past two months but a few weeks ago i was bogged down with exams and my job and almost quit my job but i used that attitude to push through. Having worked while going to school for the past 6 years and know what i had to do pushed me through it.



3. 3 tips i'd give someone about the last two months in this course are
1. Be flexible with this course if you can't think of an idea to blog just come back the next day and something will surely cross your mind.
2. When picking an opportunity to do a business venture on it pick something you are passionate about.
3. Enjoy yourself and learn from others.

Figuring Out Buyer Behavior

While working at the golf course it was really easy to find people who had the same unmet need/ problem. From the three people i talked to about reading greens they usually ask who they are playing with whether that's a friend or family member. Also all three said that they practice reading greens on the putting green we have before they go out to familiar themselves with how fast the greens are rolling on that specific day. Also one of the guys i interviewed said he watches a lot of YouTube on how to read putts. A different guy says he tried to make his own course book for our course with all the slopes on the greens but it hasn't helped his game at all.

Idea Napkin

My name is Andrew Mills and I've been an avid golfer now for about the last 5 years. I have worked at different golf stores and golf courses over the past 3 years. This has helped grow my knowledge and love for the game of golf. My aspirations are to join some type of golf company and be on the business side of the company. If I were to start this venture i don't think it would be a permanent role once it would be set up. My idea for it is to make it self sustainable with only using your smartphone camera once the initial tech is in place the only thing for the company would be selling adverts and advertising the application.

My product is an application on someones smartphone that reads the putting green for them while also giving the consumer a line of best fit for the putt itself. It uses the back camera on the phone. Also on the app i would try and get other golf companies to advertise on the app with banner ads for websites such as supreme golf or golf now which are tee time reservation apps.

This company was made with the average golfer in mind. Average golfers usually lose the most scores during short game aspects of his/her game. With this app it would give these golfers an opportunity to lower their scores in a place where it does usually add up.

Golf is an expensive game but to have an app helping you while out on the course beats paying for putting lessons where it would cost 30-100 dollars an hour. Also a lot of people don't want to practice or don't have the time to practice and when they do have the time they would more than likely want to go play a round than practice.

What sets us apart is the mobile access that would be comparative to a caddy available on any golf course. It would be easy to use and available to anyone.

Testing the hypothesis PT 2

Inside the boundary
Who is In: Amateur golfers
What the Need Is: Read the greens on putts
Why the Need Exists: To help lower scores on the greens Outside the boundary Who is Not: Golfers who are able to afford a caddy or other type of training aid What the Need Is Not: It's not something to make the putt for you Alternative Explanation: Some people just want to learn on there own What i found with these interviews were that the golfers i questioned all seemed interested in what i talked about but the one main concern was the idea was the affect it would have on pace of play.

Elevator Pitch

Solving the problem

The problem I saw was the ability to read green on the golf course while golfing. My app would take out the guessing work of how the greens break and help golfers lower there scores in a place where the scores add up in golf. During the use of the app it will show the golfer how to green breaks from their putt to the hole and a line that would work for the putt having hit the ball the correct speed. The sale would be the initial app itself then an add on for the line of the putt. Also courses could pay for advertising as well as companies such as supreme golf or golf now that are tee time websites. The income from this could help improve the technology in the app with constant improvements it could be a golfers best friend. This app is designed for golfers

Testing the Hypothesis

With currently working at a golf course currently,playing the game of golf, and having been working with the game of golf for the past 2.5 years i have seen and heard many things regarding the readings of greens to help with putting for amateur golfers. I see an opportunity for an application on the phone for golfers to use to help them read green just by using an app on their smart phone. It would be like a golf caddy in their pocket to help read greens and show them a line for their putts. Amateur golfers might like something like this to get the guessing out of one aspect of there game. While at work one day i had conversations with some of the people i see everyday coming into my golf course to play about having something like my idea. A majority of these golfers seemed to be highly interested in this idea and were asking me questions by the end of it. I asked these golfers if they would use this application, if they thought it was a good addition to the game of golf, have you heard of something like this, and do you think it would help them improve not only scores but how to read the green. All of the questions got positive feedback except if it was a good addition to the game. Some of the golfers thought that the app would initiate slow play. With that being a subject of discussion especially recently in the golf world I definitely have to take that into account to try and figure out a way slow play is taken into question with this.