Assignment 30A: Final Reflection

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

The most formative experience definitely was all the interviews. I am not an outgoing person in general, I don't thrive off conversations with new people. So...needless to say this experience definitely had a huge impression on me and my growth as a person. The interview part is also the experience I am most proud of myself for accomplishing. It is not something that comes easy to me so seeing myself grow throughout each interview was pretty awarding. The part I will remember in the years to come is just my product concept in general. Who gets the creative reigns of creating whatever they want and creates a toilet....I guess me. My most joyous experience was the assignment where I got to research and talk to entrepreneurs. It is really cool to see how people go from where they started to where they are now. It is also eye-opening to see all the possibilities of jobs/venture concepts out there.

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

Throughout all the classes I am taking this semester (Marketing and Information Systems and this class), there was definitely a common theme. By taking all those classes together, I think it really helped develop my entrepreneurial mindset more so than if I just took this class. Going into the semester, I knew my dream goal for after college was creating my own brand whether thats in beauty/fashion/health.  Even though my product wasn't necessarily my "dream goal", it still helped me tremendously with the aspect of creating a business. 

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

With this course, I really want to empathize, YOU ONLY GET OUT WHAT YOU PUT INTO IT. If you are gonna bs everything, then this course will drag on. You are enrolled in it, you have to do the work, so why not actually get something out of it. Grow from it. Learn from it. To perform best in this course, definitely have a planner where you put all the assignments/due dates from the start as it can get confusing in the beginning. Also, make it prevalent on the assignment where you come up with a business concept that it is what you will use throughout this whole course. For some reason, I was not aware of that.

Assignment 29A: Venture Concept No.2

• Opportunity:
• Until recent years, society has associated the words "health" and "healthy" to one simply just not having an illness or being sick. Health has taken a whole new meaning now as people associate health with not only being free from illness but connecting the mind and body and being the best self you can be. The global market for health/wellness has been growing rapidly in the past few years and, according to Euromonitor International, has reached $686 billion in the year 2016.
• The doctors office always take longer than you actually think they will. By the time it takes to get there, check-in, wait in the waiting room, have the nurse take your vitals, wait for the doctor, have the doctor examine you, check out, drive to the nearest pharmacy and wait 10-15 minutes at the pharmacy it feels like your whole day is gone. It is not actually the doctor visit itself but the whole process that takes so long. In fact, Medscape released a report that stated typical doctor-patient time is only 13 minutes long. 
• The need is for people to be able to know their levels of vitamins/nutrients in a timely manner and not need to make a lengthy/expensive visit to the doctor's office. Currently, customers simply do their research online and take what they think they need not what they actually need. This need has not been satisfied in a way of prevention. People often wait until they are at their absolute worst to go to their doctors and often it is something that could be preventable.
• Potential Customers: multigenerational households, university owned buildings, millennials willing to pay (in general, people who wish to maximize their health)
• 
  
• Innovation:
• For both individuals and colleges, I will sell toilets that will be advertised as personal performance identifiers and health monitors because that is what is unique to the toilet. This product will analyze your urine after you urinate and give you an electronical list on a screen of various things you are deficient in. This product is a fast and easy way for people to monitor their health and be more proactive about their body. The way I see my product is there being a sensor that will detect when you urinate. Once this sensor is triggered, the toilet will open a compartment or simply extract a sample to analyze. Once it is finished analyzing, the toilet will dispose of it down the pipe as a toilet normally would dispel of its contents. I am selling a toilet along with a scanner and screen for between $400-$500 depending on how advanced the technology is. In general, a good quality toilet is between $200-$300 so if I would have to estimate I would add a couple hundred on that for the screen and scanner.
• For families, I would also like to include a downloadable app that will notify parents of their children results. This way, parents can keep track of their child's health without being a super helicopter parent.
• Venture Concept:
• Customers will buy my innovation simply because it will save them time and money in the future. They will switch because this is a more efficient process due to the fact that they are doing something they do everyday, the bathroom. They don't have to change their routine, thus, making it easily adaptable to their lifestyle. Customers will also buy this products so they don't constantly waste money on vitamins/nutrients their body is not deficient in.
• The competitors include businesses where people have to send in their "sample" of saliva or  urine to get tests that can take weeks to come back.  In today's society, people seem to have an obsession with quickness. It is always "I want it now" or "I don't have time for that". My product will give you the results at that moment so there is no waiting or handling involved. 
• The price point must be perfectly balanced as it cannot be too expensive so young millennials will be able to buy them. It must be above $1000 but below $3500 so it would definitely be considered an investment. Although my main target segment is multigenerational households, millennials are the most willing to take initiative on healthy eating habits and wellness experiences (Nielsen). I believe that influencer marketing is one reason behind this. This online community has created a space where people can share recipes, wellness tips and healthy habits as well as products that fall within this category. This information can be quickly shared with millions of people. I think this is something I should take into consideration with the distribution of my product to millennials who use social media frequently.
• Unfair Advantage:
• Never underestimate the power of social media. After reading "The Art of Social Media" by Guy Kawasaki, I truly realize the importance of your brand's reputation/consistency on social media. My familiarity with social media and the knowledge that I gained from reading this book will definitely help me jump start my business. 
• What's Next:
• My goal for this product is not to ruin physician's careers but rather reduce the amount of visits that can be easily solved and prevented with my product. I could easily add a different product category of powders that change colors for the most common vitamin/nutrient deficiencies.
• For Me:
• I want to continue to promote healthy lifestyles and being proactive about the state of your wellbeing. If this product is scientifically feasible, I would look forward to creating a health brand out of this. One day, I would hope to take it beyond just the toilet in order to promote healthy habits globally. 

Feedback

• The three responses to my venture concept were all positive. They all were really assuring and made me feel as though my business concept mattered. It was a nice feeling to have as throughout this class I had doubts about my concept and wasn't really full on in it.
• Focus on multigenerational households/advertise in suburban areas
• Express that the computer aspect of the product will have updates on the analysis of different deficiencies/illnesses 
• Manufacture in the US, promotes my values, healthy labor 
• Maybe not participate in influencer marketing, not practical??
• So...probably should have done this before but I actually researched my product to see if there is anything like it out there
• I found one article about a Japanese company who has a toilet that can test your sugar level, blood pressure and body fat.
• It runs for a whopping $3500 so maybe need to reconsider the price for my toilet lol

How Venture Concept Changed

• I was not aware that there was a product like this out there and neither were my peers in this class and the people I interviewed.
• My goal would be to make it more common and inexpensive. Market it more. Spread the word.
• I haven't seen any product like this in the US so I could be the first company here to do it.
• I will definitely have to up the price of my original thought of $500, guess I was not educated enough to make that guess
• Want it to be below the $3500 of the other company 
• My product will aim to do more and is marketed more towards vitamin/nutrient deficiencies. 

This is what the "Smart Toilet" in Japan looks like. Mine will be very similar but I would have a more slick touch screen not necessarily all this buttons which can be intimidating.

Assignment 28A: Your Exit Strategy

1) Identify the exit strategy you plan to make.

• I hope to stay with DailyDiagnostic until I am able to take a risk somewhere else. This means I am financially stable and feel like I have got the experience I needed throughout my time at DailyDiagnostic. This would most likely be within 5 years. Hopefully, the buyer of my business will have the same passion for health as I do and continue to represent the company well. 

2) Why have you selected this particular exit strategy?

• I selected this strategy because, although it is something I am passionate about, it is definitely not something I would be wanting to do for the rest of my life. My ultimate goal would be to create my own brand in either fashion/beauty or open up my own boutique one day. However, I know that the butterfly effect is very prevelant and am open to any new opportunities. 

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

• I don't think it has influenced my past decisions but from here on out it will definitely influence my thinking and actions. I will be more open to opportunities and the people I come across. I want to be able to say I put in my all to DailyDiagnostic until I feel like it will be better in the hands of another company/person.

Assignment 27A: Reading Reflection

1) What was the general theme or argument of the book?

I am all about growth mindset and seeing how I can become the best self I can be. That is why I chose the book "Mindset: The New Psychology of Success" by Carol Dweck. It is all about how you can learn to fulfill your potential. It shows how by simply changing your mindset it can change your life. Something that really stuck with me was the quote: "If you only go through life doing stuff that's easy, shame on you". This book shows how you always have a choice on how you perceive every experience you go through. You can either sit there and do nothing and feel bad or do something about it. The main statement that the book was trying to express is that a fixed mindset might be limiting you from your fullest potential, from opportunities, and from achievement.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

Building a business from the bottom up can be challenging. You will inevitably face obstacles and, essentially, what determines your success after these will be your mindset. Having a growth mindset allows you to constantly learn and improve. This connects to our learning in ENT 3003 because a new product/business will require changes to be made along the way. This book also shows how to foster a workplace that is a community full of growth mindsets. People in these collective growth mindset companies are more open to expressing their opinion and communicate more efficiently. 

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

I would just have the class answer a few questions to have them reflect on their mindset and experiences.

• In what areas of your life do you believe you have a fixed mindset on?
• How can you move this more towards a growth mindset? What do you want to remind yourself of?
• Think of a time that someone outdid you and you just assumed they were smarter or more talented
• Maybe they just used better strategies, planned more, practiced harder
• How will you challenge yourself today?

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

Something from the book that really shocked me and something I have not really thought about before was the reasoning behind the gender gap in math and science. In society, it is  portrayed that men are better at more math and science things than women. What contributes to the gender gap is the fixed mindset, stereotyping and women's trust in other people's assessments of them. Females trust in other peoples opinions stems from when they were little. Little girls were often never scolded but rather praised as cute and well behaved. Since they believe those things, then they must believe even the criticizing is true as well. The vulnerability of females in believing these assessments can only be easily changed by switching a fixed mindset to a growth mindset.

Assignment 26A - Celebrating Failure

1) Tell us about a time this past semester that you failed.

The first thing that comes to my mind was something that happened pretty recently. I applied to an organization and was lucky enough to receive the opportunity of an interview. I made the mistake of thinking I had the position just solely because I got the interview. I knew in the back of my head that that wasn't the case but that was my thinking going into it. Due to that, I planned my schedule and the decision to apply to other things based on this one organization that I hadn't even gotten yet. You probably guessed it, but I received the "You are such a good candidate but sadly...." email. This was definitely not something I was expecting as I thought I presented myself the most authentically and best I could in the interview. 

2) Tell us what you learned from it.  

Don't ACTUALLY plan things around something that isn't even secure yet. Maybe think about planning around it but don't actually do it. Something that I have been focusing this semester is having a growth mindset. This experience has definitely allowed me to practice this mindset. Failure is nothing but a learning experience we can only grow from. 

3) Reflect

In the beginning of this school year, I for sure had a fixed mindset. With all my experiences and everything that I perceived as a failure I would shut down. I wouldn't reflect on the experience. I would literally shut down and not want to think about it every again. I realized this mindset wasn't helping me by about mid fall semester. That is when I decided to be more aware of my thinking/mindset. I think that the quality of your life depends on how you choose to see things. We can decide how we perceive these things whether big or small. Now, I see values and lessons in every situation. I just have to remind myself that everything we experience can either help us to become better or bitter. 

Assignment 25A: What's Next

Existing Market. 

What I Think Is Next:

I think the next product DailyDiagnostic could make is a powder that you sprinkle in the toliet after you urinate. Initially, there could be three main ones for the three most common vitamin deficiencies. The darker the color turns of each color, the more deficient you are of that vitamin. I think this would be easier for the people who don't want to install a whole new toilet and aren't as committed to maximizing their health. In previous assignments, I mentioned the use of an app for parents who want to keep an eye on their children's levels. This app could also include more in depth information, acting as a guide for healthy habits. 

Existing Market Interviews:

"What should we be doing that we aren't planning to do?"

"What is your idea of what customers might want next?"

1 - "I would suggest to start focusing on your advertising and marketing plans. Maybe figuring out if you will market by geographic location or any other factors. Since your target market is multigenerational families, going to huge suburban school districts due tot the families that live there might be a smart move. It is a place to reach the families who have children and possibly older generations living with them. Something customers might want next or what they might want added to the product is computer updates with the screen. New tests for certain illnesses/deficiencies might come out and I won't want to have to buy a whole new toilet. I think simply reprogramming with an update would be a selling point if it is feasible"

2 - " I didn't see anything in your venture concept about where you will be manufacturing so start there? Figuring out whether you want your product to be manufactured in the US or outside the country would be the first step. Recently, It has been sort of a selling point for products to be made in the US because a lot of people want jobs to sty in the US. Society has always been obsessed with looking younger but I also think it is important to feel younger and healthier. So maybe creating an anti-aging product not for looks but for feeling better on the inside and fixing things that age on the inside?

3 - "In your venture concept I saw that you briefly mentioned influencer marketing. Although that is great idea, think about a 16-25 year old talking about a toilet on social media. I think you should start taking into consideration how likely it will be that someone will accept that brad deal and for how much money. It is kinda odd to market and sponsor a toilet on social media so think about how you want to do that and reflect your brand as a personality."

Reflection:

    I had a difficult time trying to get ideas out of the people I interviewed. They would just look at my venture concept and think that it was all good and didn't need any feedback. However, once I probed them to talk more I got some really useful information out of these interviews. Two of the three talked about marketing/advertising my product and the other interviewee talked about manufacturing.

    I think a reoccurring theme I have seen throughout all my interviews in this class but specifically these three is the near obsession with living longer, looking younger and being healthier. My perspective on that is if you are healthier on the inside and treat your body well then you will look/feel healthier on the outside. I think it is also important that people don't just want to live longer but be frail and weak but rather live long and be active when they are older. The purpose of my product is to enhance people's lives. 

    Influencer marketing and sponsored posts have taken over social media. Originally I thought this would be a great idea to get the word out until I realized from this interview that it would be kinda weird. I mean who would want a sponsored post on their instagram about a toilet or a youtube video on their profile. That is something I definitely should reconsider and think about whether to completely scratch that idea or come up with a way to balance it out. 

New Market: In previous assignments, I never really stated that my target segments would be of an affluent part of the society. After thinking about this "new market", I realized that my product was positioned as that for someone who has enough money to maximize their health. I think a new market for my product would be targeting a more lower income part of society. Maybe I could create a toilet that just does minimal functions of the personal performance identifier or create a less expensive version by using the most basic toilet and just adding the scanner and screen. The powder product I mentioned earlier could also be positioned for this segment. 

New Market Interviews:

"How will this business help to meet the needs of customers like you"

"What kinds of adaptations to the product/service mix do you think we should make to be successful in this new market"

1 - "It will help meet our needs by providing a way to prevent any complications that could possibly cost us more money in the future. Such complications could be small such as being low in iron and dealing with the effects of that or something huge like hospital visits. When there is no room to mess around financially, you got to find ways to save every bit. Making the product more cost effective by using cheaper materials for the actual toilet and then including the screen and scanner or having it come as an attachment would be possible adaptations to make the product more successful."

2 - It helps fulfill the need of time. My family and I don't have much leisure time so this product would definitely help us have more of this type of time. If people really cannot afford the product, maybe installing them in Minute Clinics at CVS as a free service. On their way to work, people can stop in quickly."

Reflection:

    This new market definitely poses some difficult questions. How could we get the price down? How differently do we position this product to this new market? The needs that were satisfied were still the same as my original market: time and money. I was surprised about the CVS idea and I don't really know how much that would work.
    It reduces the attractiveness of the time savings my product provides since you do have to stop there. However, it still saves more time than a doctors office and saves money. I think CVS would be interested because after people use the toilet, they can purchase all the vitamin/nutrient supplements right there, increasing CVS's sales. 

Assignment 24A: Venture Concept No.1 (Daily Diagnostic)

• Opportunity:
• Until recent years, society has associated the words "health" and "healthy" to one simply just not having an illness or being sick. Health has taken a whole new meaning now as people associate health with not only being free from illness but connecting the mind and body and being the best self you can be. The global market for health/wellness has been growing rapidly in the past few years and, according to Euromonitor International, has reached $686 billion in the year 2016.
• The doctors office always take longer than you actually think they will. By the time it takes to get there, check-in, wait in the waiting room, have the nurse take your vitals, wait for the doctor, have the doctor examine you, check out, drive to the nearest pharmacy and wait 10-15 minutes at the pharmacy it feels like your whole day is gone. It is not actually the doctor visit itself but the whole process that takes so long. In fact, Medscape released a report that stated typical doctor-patient time is only 13 minutes long. 
• The need is for people to be able to know their levels of vitamins/nutrients in a timely manner and not need to make a lengthy/expensive visit to the doctor's office. Currently, customers simply do their research online and take what they think they need not what they actually need. This need has not been satisfied in a way of prevention. People often wait until they are at their absolute worst to go to their doctors and often it is something that could be preventable.
• Potential Customers: multigenerational households, university owned buildings, millennials willing to pay (in general, people who wish to maximize their health)
• 
  
• Innovation:
• For both individuals and colleges, I will sell toilets that will be advertised as personal performance identifiers and health monitors because that is what is unique to the toilet. This product will analyze your urine after you urinate and give you an electronical list on a screen of various things you are deficient in. This product is a fast and easy way for people to monitor their health and be more proactive about their body. The way I see my product is there being a sensor that will detect when you urinate. Once this sensor is triggered, the toilet will open a compartment or simply extract a sample to analyze. Once it is finished analyzing, the toilet will dispose of it down the pipe as a toilet normally would dispel of its contents. I am selling a toilet along with a scanner and screen for between $400-$500 depending on how advanced the technology is. In general, a good quality toilet is between $200-$300 so if I would have to estimate I would add a couple hundred on that for the screen and scanner.
• For families, I would also like to include a downloadable app that will notify parents of their children results. This way, parents can keep track of their child's health without being a super helicopter parent.
• Venture Concept:
• Customers will buy my innovation simply because it will save them time and money in the future. They will switch because this is a more efficient process due to the fact that they are doing something they do everyday, the bathroom. They don't have to change their routine, thus, making it easily adaptable to their lifestyle. Customers will also buy this products so they don't constantly waste money on vitamins/nutrients their body is not deficient in.
• The competitors include businesses where people have to send in their "sample" of saliva or  urine to get tests that can take weeks to come back.  In today's society, people seem to have an obsession with quickness. It is always "I want it now" or "I don't have time for that". My product will give you the results at that moment so there is no waiting or handling involved. 
• The price point must be perfectly balanced as it cannot be too expensive so young millennials will be able to buy them. Although my main target segment is multigenerational households, millennials are the most willing to take initiative on healthy eating habits and wellness experiences (Nielsen). I believe that influencer marketing is one reason behind this. This online community has created a space where people can share recipes, wellness tips and healthy habits as well as products that fall within this category. This information can be quickly shared with millions of people. I think this is something I should take into consideration with the distribution of my product to millennials who use social media frequently.
• Unfair Advantage:
• Never underestimate the power of social media. After reading "The Art of Social Media" by Guy Kawasaki, I truly realize the importance of your brand's reputation/consistency on social media. My familiarity with social media and the knowledge that I gained from reading this book will definitely help me jump start my business. 
• What's Next:
• My goal for this product is not to ruin physician's careers but rather reduce the amount of visits that can be easily solved and prevented with my product. I could easily add a different product category of powders that change colors for the most common vitamin/nutrient deficiencies.
• For Me:
• I want to continue to promote healthy lifestyles and being proactive about the state of your wellbeing. If this product is scientifically feasible, I would look forward to creating a health brand out of this. One day, I would hope to take it beyond just the toilet in order to promote healthy habits globally.