1) What was the biggest surprise for
you in the reading? In other words, what did you read that stood out the
most as different from your expectations?
Social Lending or Crowd Funding for business loans. I always thought you either raised capital, (self finance, family, IPO's, etc) or you secured financing. I've heard of social lending sites for personal lending but I didn't realize this was a new source of capital for businesses. This seems to be a risky investment but can have a great return on investment if the borrowers repay.
2) Identify at least one part of the reading that was confusing to you.
Rule 504-506. I had a difficult times understanding their meaning and what they are. Descriptions were brief and seemed vague.
3) If you were able to ask two questions to the author, what would you ask? Why?
What do you think the most efficient way of obtaining working capital for a start up business would be?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
In my opinion, there was not anything I would disagree with pertaining to this chapter. This explanation on marketing, equity capital, etc seemed to be more fact based conversation than opinion. Overall, I actually found this to be one of the easier chapters to understand by this author.
Sunday, February 28, 2016
Monday, February 22, 2016
Half-way Reflection
1) What are the behaviors that you have used (or developed) to keep up with the requirements of this course?
Persistence, Organization and Determination are key. Some of the assignments take some planning which requires time and effort.
2) Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
There are a couple projects I have not completed due to recording interactions and getting permissions. It was frustrating to adapt to a different learning style but overall, I am enjoying being out of my comfort zone. I am committing to those encounters more in these next assignments.
3) What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?
Persistence, Organization and Determination are key. Some of the assignments take some planning which requires time and effort.
2) Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
There are a couple projects I have not completed due to recording interactions and getting permissions. It was frustrating to adapt to a different learning style but overall, I am enjoying being out of my comfort zone. I am committing to those encounters more in these next assignments.
3) What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?
Become comfortable with the uncomfortable and keep pushing through. These professors are here because they have something truly amazing to offer us as students. Try not to judge the course before you've had an opportunity to experience it. Overcoming intimidation and obstacles will be a huge asset to any and all encounters in your life. Embrace it.
Friday, February 19, 2016
Week 7 Reading Reflection
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
One of the biggest surprises to me was the explanation of rejection by senior management. When you read of solutions to possible marketing issues, you just assume the solution would be accepted and applied by management. However, now reading the article, it explains that if senior management cannot seem to grasp the logic and process behind the idea, it's rarely implemented. This could be a huge breakdown in communication and lead to many missed opportunities for the organization.
2) Identify at least one part of the reading that was confusing to you.
I found the 'Different Segmentation for Different Purposes' chart to be confusing. I had a hard time understanding what information the chart was supposed to communicate and represent.
3) If you were able to ask two questions to the author, what would you ask? Why?
What are some suggestions you would make to help improve the line of communication to senior management when trying to implement an idea they would consider 'new age' or 'modern'.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
Market Segmentation is a topic I have little to no experience in. I do not feel I have enough knowledge to truly question any information I've been provided in this article.
One of the biggest surprises to me was the explanation of rejection by senior management. When you read of solutions to possible marketing issues, you just assume the solution would be accepted and applied by management. However, now reading the article, it explains that if senior management cannot seem to grasp the logic and process behind the idea, it's rarely implemented. This could be a huge breakdown in communication and lead to many missed opportunities for the organization.
2) Identify at least one part of the reading that was confusing to you.
I found the 'Different Segmentation for Different Purposes' chart to be confusing. I had a hard time understanding what information the chart was supposed to communicate and represent.
3) If you were able to ask two questions to the author, what would you ask? Why?
What are some suggestions you would make to help improve the line of communication to senior management when trying to implement an idea they would consider 'new age' or 'modern'.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
Market Segmentation is a topic I have little to no experience in. I do not feel I have enough knowledge to truly question any information I've been provided in this article.
Tuesday, February 9, 2016
Idea Napkin No. 1
I'm Jamie Garcia. My skills are my level of organization, attention to detail and level of perfectionism. I adapt to change quickly and I can learn new things quickly. My aspiration would be to eventually be a purchasing manager for a major fashion retailer such as Gucci, Louis, etc.
My business concept would help improve people's overall quality of life which I believe would give me a certain level of fulfillment.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
My service would consist of educating people of all ages on the importance of financial organization and understanding. Most people have no idea how much interest they pay on purchases or where their credit score is. What happens to your assets and finances when you die? What are the easiest and most efficient ways to pay off debt? Should you have your spouse as a co-owner on all your finances?
I would solve this by providing a professional financial education and organization service. I can teach the basics of managing your deposit accounts or I can advise you on debt consolidation. Do you need help protecting assets? My services would range from entry level needs to more complex needs.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psycho-graphic characteristics of your customers. Think especially of this question: what do your customers all have in common?
My demographic would include everyone. That's one of the great things about this service. Any and everyone needs to know how to improve their financial picture but so many people do not know what their options are. I can help a husband and wife or a freshman in college. Did you just have a grandchild you want to save for? I can help everyone. Every person should be well versed in the financial world so they know how to help themselves.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
If you ask any person, I'm sure one of their TOP concerns is money. It's our motivator and driver for most of what we do. Everyone needs money. I'm sure there is not one person who would not be interested in finding out how to keep more of the money they earn.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
I have almost 10 years of banking experience. I've been a teller, a supervisor, and now a personal banker. I've worked with business bankers, business owners, mortgage officers and everything in between. If I don't have the solution, I know how to get you one. I'm one of the best in my company and I'm always looking to grow and learn more not only within my position but my industry.
I believe I have a great business opportunity. The problem is, we do not spend enough time educating people on just how critical it is to understand your finances. I meet people every single day who think they're being paid 1.00% on a savings account only to truly be paid 0.01% on a savings account. If the fed announces they've raised the rate 0.25, how does that affect you? Do you have someone, professionally to call and ask how that affects you? There are so many questions pertaining to finances that people have no idea how to answer. I would say about 80-90% of my clients have absolutely no idea what their financial picture looks like and how to improve it.
Sunday, February 7, 2016
Week 5 Reading Reflection
1.What was the biggest surprise for
you in the reading? In other words, what did you read that stood out the
most as different from your expectations? The process for obtaining a patent was the most surprising to me. I thought the process was relatively simple and to see all the minute details such as tentative classification, security screening and multiple examinations showed that this process is anything but simple.
2. Identify at least one part of the reading that was confusing to you.
Forms of intellectual property chart was a little confusing to understand in certain sections such as the explanation of trade dresses. There really was no explanation of what certain terminology was and how it directly correlated to intellectual property.
3.If you were able to ask two questions to the author, what would you ask? Why?
Is there a simplified was to explain patents and the difference in intellectual property. Do you believe this format is the best way to communicate these ideas to student who are new to this conversation.
4.Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I wouldn't exactly consider multiple expenses and the ability to organize these expenses are a disadvantage of forming a corporation. As long as there are clear cut policies in place and a team to help keep this efficient. The form of a corporate should run just as efficient as any other business structure.
2. Identify at least one part of the reading that was confusing to you.
Forms of intellectual property chart was a little confusing to understand in certain sections such as the explanation of trade dresses. There really was no explanation of what certain terminology was and how it directly correlated to intellectual property.
3.If you were able to ask two questions to the author, what would you ask? Why?
Is there a simplified was to explain patents and the difference in intellectual property. Do you believe this format is the best way to communicate these ideas to student who are new to this conversation.
4.Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I wouldn't exactly consider multiple expenses and the ability to organize these expenses are a disadvantage of forming a corporation. As long as there are clear cut policies in place and a team to help keep this efficient. The form of a corporate should run just as efficient as any other business structure.
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