Week 12 Reading Reflection

The biggest surprise was concluding that strategic planing is a major key to success for young entrepreneurs . Especially those that are starting new and out of nowhere. It isn't as easy as I originally thought it be. Throughout my reading the one part that was a bit confusing to me was reading how one transitons from entrepreneurial to a managerial position. I also would want to know how does one transitions like that and what is their process ? The second question I would ask the author would be in what ways can you incorporate strategic planning in your daily life. To conclude my reflection, there wasn't anything i disagreed with the author.

What's Next

Existing market:
After the interview, I again was again thinking back to all the feedback that I was given and how I could incorporate them into my product. Being informed on the issue of getting your lower part of your body wet was what struck me the most.They asked me what would be the difference if they just wore a rain jacket. Hearing this, I knew my product was not yet ready to be introduced to the world but be brought back in to look at how I can make a better product by changing a few things. Another thing was the way my product would look, and how some fashionistas may not like the way it looks, and thus won't buy it. With this feedback, I hope to create the original look and go from there. Slowly start introducing different models of the product. 
   Although my product would be run on solar energy. It would be interesting to create bike that already has a cover on it, that would be powered by the pedaling of the rider. With that energy and model, I could later start adding more gadgets onto the cover. However, It won't be able to be compressed to a carry on. The last thing I want to discuss is having some sort of umbrella that athlete are able to use but without having to use their hands to hold it nor have it distract them and put stress on them.

New Market:
My new market would be targeting athletes. In addition to the bike umbrella/cover, this product would be beneficial to athletes and those that workout outside. This product will also protect them from the rain while they continue their normal day to day practice outside . The main thing I learned about this product is that there is a need for something like this in the world. There are many athletes out there that are forced to play in the rain unless there's lightening. Most tend to not like getting soaked and wake up the next day with a cough. This need for it , was the most surprising. However, this product also has many faults in it and in someways no necessary for some. In comparison to my original market, this isn't as attractive. However , I would love to add this to the line if items I would sell in my business.

Venture Concept No. 1

Holding my bike with one hand and an umbrella on the other while walking around University of Florida, I realized I wasn’t the only one who was forced to get off their bike due to the rain. Seeing how this was a regular occurrence, I asked myself “why?”. Why should I get off my bike rather than continue on biking through the rain? Well I and the majority of UF don’t want to get our personal items wet. Why not just juggle an umbrella on one hand while biking? That takes focus and too much effort. With all these questions roaming around my head, I thought of a product that would meet many bikers needs. Why hold an umbrella while biking when you can have one already installed onto your bike? No longer would bikers have to get off their bike or be forced to wear garbage bags on them. This is a big opportunity because this need is yet to be met and with the constant rainy weather in Gainesville, many students who both ride a bike as well as a motorcycle/moped will now be protected under a bike cover, umbrella.

   The name of the product I have designed is called “Coverella”. It’s not a normal umbrella attached to a bike, but rather a clear plastic material that is collapsible. You first attach it to the bottom of your seats bar and it will extend a few inches out towards the wheel and then be able to be pulled up and around you towards your handle bars under bar that is attached to your frame. This will allow you to be safely protected from the rain and wind while you’re biking. Not only is it a simple cover, but there will also be two things installed onto it to allow you to have clear visibility while biking. You will have collapsible rain wipers on all sides of your bike that are to be put into outlets that will power it to function. The second installation will be a small heating mechanism that will be attached to all sides of the cover that will heat the cover and evaporate the fog from the cover. The cover will also include to windows that you’ll be able to unzip if you need to. Once this product is officially developed and looked at it, I will start contacting stores who want to buy my product and have them in turn sell it to their loyal customers. I will also develop a website where customers will also have the option to buy it online rather than bike shops and other stores. It will go for sell on line for about 100-200$ depending on how much it cost to develop one and other related costs to keep the business running successfully.