Tuesday, January 26, 2010

Strengths and Weaknesses 

What do I bring to the Table?
-Experience in various fields
-multiple perspectives
-business edutation
-confidence in success
-determination
-ability to put passion into an idea and get it going
-ingenuity
-i know when to ask for help (when to recruit)

What are my weaknesses?
-i get bored with repetitive tasks
-pitching ideas
-need to know where to find people to recruit
-over trusting

Tuesday, January 19, 2010

Business Ideas

Today's big task is to come up with 5 good business ideas for our individual project...Easy task I assumed but not as easy as I thought. Sitting now for an hour trying to figure something Idecided to free write and open the flood gates of my mind... Ahh my first Idea.

1) Small Business Data Bases - I am working with a company that has some very valuable data, but the only way they store it is in paper files and it would be very time consuming to find it and use it. I talked to someone else in this field that does similar work as we do and they said they had the same problem. I asked them if they were interested in a data base made from access and they asked me how much...sound like that is something I can do. Custom data bases for small businesses or personal use.

2) In Home Network Design - So I've noticed that alot of people are having trouble figuring out how to set up a simple modem and wireless router. Best Buy offers this service, but I'm sure they can use some competition. Target market would be residences, but the tricky part would be figuring out what kind of services they need. Does everyone already have a wireless router..? I need to figure out where the majority is technology wise and I need to stay one step ahead of them, otherwise why would they hire me!

Ok...hmm...What have I seen..Got it! Txt messaging. Last time I checked over 7 MILLION dollars have been raised for the relief efforts in Haitai by Texts alone! That is very powerful and amazing. The future is definitely texting. These days so many people are afraid of confrontations and socializing with people, it takes to long and can be awkward. What if we can get information via txting. Why not email? because texting is faster and you dont need a PDA for it.

3) Texting appliances- I dont have a cool name for it yet but hear me out. What if your car texts you that someone is breaking in or you left your light on. Maybe that would be viable for houses. Bam you get a text that you left your stove on or you left your garage door open.

This idea came to me as I sit here drinking my water...

4) Water bottles that can tell you if your hydrated or not. Needs a fancy name but here is the idea. I'm drinking my water but how much should I drink..? 8 cups a day? Do I drink it at one time or scatter them out?...what if I'm working out or on a hike, do I need more water? So I have an Idea of a water bottle that can tell you preferably on a percentage scale, people love percentages, your hydration level at any given point in time.

Ok last but not least..

5) Solar conversions- I would like to convert a homes power supply to use solar panels. Costs may play a big deal into this one and affordability on the buyers part.

Tuesday, January 12, 2010

1st Blog

The mindset of an entrepreneur was very interesting to read about. My favorite point made in the reading was as follows: "Those who build companies for the primary purpose of attracting ivestment dollars at high premiums are opportunists, not entrepreneurs." These days I find it very difficult to meet a person with that kind of mindset! I agree with the reading with the concept of "concentrating on long-term value can create wealth; concentrating on wealth typically creates neither value nor wealth." Too many businesses these days focus way too much on the generation of wealth for personal gain or the gain of the stock holders. I believe that this destroys the business.

There are many challenges that an entrepreneur may face and that sounds very fun to me. Though being an entrepreneur is something to aspire to I hesitate due to the lack of uncertainties that lay ahead of one. With the weight of student loans bearing upon so many people's shoulders (And mine) how much can one really gamble? Is there a problem with a 8am-5pm?