Week 11- The Amazon Whisperer

• -    Revenue drivers I currently have in my business is the actual Snack Pack, a water bottle that the Snack Pack will attach to, and optional energy chews that can be included in the package.  My customers will have the option to buy any of all of the package.
• -          The next thing my customers will want is a Snack Pack that can attach to other things such as bikes and your arm.
• -          This “next step” will allow my customers to have options as to what mounts will work best for their own Snack Packs. Options will always sell.
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• -          This was the closest thing I could find to my snack pack. This is a sandwich pack that is resalable and water proof. The biggest marketing aspect is that the pack is supposed to keep the product inside hot or cold. The biggest difference between that product and my Snack Pack is that it does not attach to any water bottles or anything else.
• -          The customer reviews were very mixed. Some people did not like that product did not keep the food warm or cold. But they did really like that it re-sealed easily and was compact.
• -          I would make this product attachable to bike or water bottles so that this pack can be used mid workout.
• -          This product would be a good addition in that I think it would be awesome to make my Snack Pack in a way that it will keep food hot or cold depending on the food that is put in. 

Week 11 Reading Reflection

Week 11 Reading Reflection

1)      The biggest surprise to me in the reading was that there was such a thing as an innovation strategy in the first place. I always just kind of thought inventions were just kind of a spur of the moment thing that just came to people.

2)      One part of the reading that was confusing to me was the trade-offs section. How is one supposed to trade stuff if all the capital is ideas? Do they just trade ideas?

3)      Two questions I would ask the author:

a.       How does a company chose which innovation strategy they should use?

b.      Do companies ever come up with their own strategy?

I do not disagree with the author about anything in this reading, I was just very interested. It was a concept I had never read about before.

Week 11- My Venture's Unfair Advantage

1)   I am experienced when it comes to training hard. I can relate well with my customer base.

a.    I have been swimming for 11 years, I know what it is like to train hard. This experience will help me relate to my customer base. This is very rare because there is only one of me!

2)   I have good contacts with UF’s Varsity Swim Team.

a.    I have 2 close friends that are managers of UF’s varsity swim team. They will be able to help me try out my product with the varsity team. This is somewhat rare, but it is a very helpful connection.

3)   I have good contacts with local club swim team

a.    I have worked on several swim teams before so I could get my product out to younger kids to see what they think. This will be valuable in developing my product further.

4)   I have good contact with several club sports at UF

a.    I am active in several club sports and through these I know people in almost every club sport at UF. This will help me market my product to many different sports.

5)   I am very active on social media

a.    Social media is a very popular way to advertise new products now, so it is good that I will have a starting point for marketing my product.

6)   I know several people who are “famous” on social media

a.    “Famous” on social media means a person has many people who frequently check their pages and keep up with what they are saying. I know a couple people who have thousands of followers and that means I will be able to market my product to all of those people through my friends.

7)   I have good contacts with a company named “Phlex”

a.    Phlex is targeting the same customer base that I am so they can help me get into different events where I could sell my product. This is an exceptionally beneficial and rare connection.

8)   I am a good people person

a.    I am very good at talking to people, so this will help me sell my product in every situation.

9)   I am a business major

a.    I understand the basics of how businesses work and this will help me develop my business without having to pay for as much help.

10)  I have some money to start a business

a.    This small amount of money will at least help me get my business off to a start.

My most valuable asset I believe I have is myself. Several of these resources are based off my skills, so I think as a whole I am the greatest and most rare advantage I possess. I am a good people person, with lots of experience in my field, and with business knowledge. My skills are what are going to allow me to develop and market my product for the least amount of money.