Posts

Showing posts from February, 2020

14 A- Halfway Reflection

Image
Tenaciousness is a competency One of the things I think I developed that really helped me with this course was to start thinking creatively. I had not started this course was any business concept in mind, yet by learning to look at things differently, and think creatively to see opportunity, I have now developed a business idea that I actually really like. A behavior that I used was being organized and staying on schedule. I plan all of my assignments two weeks in advanced, and plan when and where I will watch the lectures and work on them. An important part of this for me was looking at the assignments ahead of time, because often one week was not long enough for me to work on the assignments and get them done to the extent I wanted, especially in cases of having to interview people. Tenaciousness is also about attitude One moment I specifically remember was when having to come up with a business idea. Like I said before, when I started this course I actually didn't have an...

13 A- Reading Reflection 1

Book: Coco Chanel , Lisa Chaney What surprised me the most: The fact that she was a live-in mistress for a wealthy man, and became friends with his wife. It was also known by the people of the city that's what she was, and she embraced that. Though this doesn't necessarily have anything to do with her entrepreneurship, I still found it incredibly interesting and surprising, especially for the time she lived in. What I admire the most & least: What I admire is just her personality. The fact that the author was able to capture her personality in this book, years after her life, show's how strong and influential it was. Her personality contained a lot of desirable qualities for entrepreneurship. She was also very proud to be an independent woman, having never wanted to rely on a man for things. I guess what I would say I least admired, was for a woman who was so unapologetically herself, she often lied about her childhood and early life. She seemed so authentic ...

12 A- Figuring Out Buyer Behavior

Segment:   Females, age range roughly 17-30, have some sort of interest in fitness Product: women's fitness apparel store Person 1: This person recognizes this need when buying fitness clothing, however there were multiple scenarios when this happened. First, is simply when needing new fitness apparel, whether that be clothing, or shoes, or even a new gym bag. This involves noticing she either didn't have something, or what she does have has not gotten too old. Her response to this is usually to go into stores and shop, and this is when she recognizes the need. She often found that going into stores there weren't a large variety of options, so she would result to shopping online. Another time she recognized this need was when these online apparel brands had sales. A lot of the brands she likes are very expensive, and even on sale they are still a little higher price, because of this she finds it a little stressful trying to decide what size to buy, since in the case ...

11 A- Idea Napkin No. 1

1) You In terms of my business (women's fitness apparel), I have a great deal of experience with this industry. I used to compete in physique/bikini competitions, so the gym and fitness apparel have been apart of my life for about 5 years. Over the last 5 years, I have seen how much the fitness apparel industry has grown, and how much the need for more stylish gym wear has as well. When I first started working out, there really were only a few main brands like Nike, Puma, Adidas- and now there are so many more. I have tried numerous brands throughout the years, and feel as though I have a pretty good knowledge about what brands work and what don't. Regarding my business concept, I could see this store first opening up here in Gainesville. I think it would do really well in a college town like this. I do however think if I were to open this store, I would want to open more locations, maybe franchise it. I think if it did well here, it could gain popularity and be successful al...

10 A- Elevator Pitch 1

Image
https://youtu.be/w6y6SbveSKY

9A- Testing the Hypothesis pt 2

My opportunity is again a women's fitness apparel store that carries a variety of popular online fitness brands, all made easily available in one store. Interview 1:  The first person I decided to interview was a guy. He too preferred to buy his clothes in person, and often struggled with getting the correct fit when ordering online. He typically shopped for two brands when looking for gym clothes, Nike and Alphalete. He also felt like there was a lack of stores carrying men's fitness apparel, and expressed a need for one, especially if it were to carry brands like Alphalete and GymShark, that he could only find online. He expressed that he would be more inclined to buying these clothes in person if a store was available as compared to online. He also expressed the same opinion if he were to be shopping for girls clothing as a gift or something, he would prefer a physical store inste...

8A- Solving the Problem

My problem is that there are almost no in person stores that carry a variety of women's fitness apparel. Even when walking into the stores like Champs or Dillards, that have fitness apparel for women, they are (1) mostly made up of male items, especially for clothing, with little to no option for women, and (2) usually only have basic brands such as Nike and Adidas. One alternative option is LuluLemon, which does have a unique option for women, however the store carrie solely LuluLemon and is amongst one of the priciest fitness apparel brands. My solution, is a brick-and-mortar store that contains a variety of fitness brands, typically not available in stores. This store will contain very famous online athletic wear brans such as Gym Shark, Alphalete, Buff Bunny, and more, as well as some of the normal traditional brands such as Nike and Adidas. The store will have not only the clothing items of these brands, but all aspects of fitness apparel. It will sell shoes, socks, water bo...

7A- Testing the Hypothesis pt. 1

1. Women, and young women or teens, are unable to walk into a store that specifically carries a variety of fitness apparel made solely for females. With majority of athletic clothing brands online, and the increasing popularity of athelesure, its difficult to constantly be ordering online and having to return or exchange items because the sizing isn't right, rather than just walk into a store and buy it. 2. Again this opportunity would be a retail store that carries a variety of fitness clothing brands, specifically those uniquely online and not just Nike or Adidas. It would include all types of fitness apparel like shoes and accessories, all targeted towards women. The Who: Women interested in buying fitness apparel The What: There are no stores that carry a variety of popular fitness apparel brands marketed specifically towards women The Why: Majority of the popular brands are online, so it is probably difficult to get ahold of multiple different brands to try and carry ...

6A- Opportunities in Economic & Regulatory Trends

1. Economic Trend: America is Declining in Global Economic Power I found this trend here  https://www.thebalance.com/top-usa-future-economic-trends-3305666 , the article explains a number of reasons which America's economy has shifted in terms of it's global power. It specifically lists job outsourcing, which is where I think an opportunity exists. The customers for this can be both American workers and business owners, as well as international workers and business owners. I think this is a relatively difficult opportunity to exploit, because things are out sourced for a reason, typically due to the cost being much cheaper. However, if we wish to stop the downward trend of America's Global Economic Power, someone needs to find a way to compete with the out sourcing that's doing so. I personally saw this opportunity because I know that a lot of the conditions for work that is out sourced outside of the US are terrible. It is something I don't support, so I ...