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Business Model Presentation and Thesis

Graduation is finally here. Over the past few weeks in the business model presentation and thesis, I have combined work from each class and applied it to my final presentation. Coming into the presentation and thesis class my original goal was to do whatever it took to finish. My biggest fear was to not have a business model solidified. When reading the course description prior to starting my degree I set a tangible goal to have no less then an A in the class and a pitch ready business model. 

Over the four-week period my goal was met by simply completing each assignment. In addition to developing a business model, I created a solid presentation and thesis. I learned in order to develop a good business presentation you must include more than what your company does. A good business model includes information on your company, the market, financial projections, and position amongst competitors. Writing my thesis, I gained a hard look at the over state of my business. Originally my company pushed getting college students scholarships. In the end it became evident that my company did much more than help get scholarships, rather offering a full channel to transitioning athletes from high school start to the college ranks.

Holistically, I look to apply the course material and knowledge gained to increase my company’s potential. Implementation of what I learned in business model presentation and thesis will start in the form protecting my company legally. Applying the right business type (LLC), trademarking and copyright will ensure protection from potential lawsuits.  I will pitch my company to investors by utilizing my final presentation deck.

My time in business model presentation and thesis has shown me a company is more than just a good business model. In the end a great business highlights their strengths and eliminates issues. 

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BMM MASTERY JOURNAL

Defined as the operation used by a business to identify revenue, target demographic, product and financials, business models are vital when developing a company. Based off the course description my overall goal for IEN 680 was to re-evaluate my company’s business model. Drawling from previous course work, I set out to fill in blanks, looking to answer two vital questions; what role each team member plays, and how to connect better with costumers.

The two questions posed, were addressed throughout the four-week course. In order to meet my original goal, I utilized the information gained from the course assignments. In addition, I took time to acquire external information through channels including, web searches, published journals and direct customer inaction. Based off the course material I learned, regardless of what type of manager you are there are four to five stages of management task.  Having learned the similarities in managing styles, I now know what to look for when hiring future management. The rest of the four week course span provided self-explanatory information; in order to produce a quality product/ service you must connect with the consumer. Week 3 provided a glimpse into how established companies gain customer feedback, which later can be used in product development. 

Overall the information absorbed from this month’s Business Model Implementation and Management course will be applied to the way I establish connections with costumers and my overall team.  Rather than hiring the most qualified candidates, I will base my hiring process on what's best for the company. A highly qualified candidate is good but an affordable reliable qualified candidate is even better. Having the best of everything can quickly lead to the collapse of my business financially. Knowing who to hire, directly correlates with the knowledge received from the IEN 680 course.

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Innovative Work Enviorment

Before any sizable journey a great explorer plans, identifying the best form for executions. Prior to selecting my mastery field of study, I read the course description for the Innovative Work Environmental course. Described as a class to teach students about "strategies that successful companies use for managing innovation, design, concept creation, and workflow", it was evident I would enjoy the class. Originally, my goal for the course was to define my company’s future workplace. The span between week one and week two dramatically changed. A heavy focus of the first week course material centered around the traditional workplace. Where did the cubicle go wrong? As a person who works in a traditional work environment I learned my own workplace contributed to my lack of inspiration. Conversely, week two tapped into creating the best workplace environment. The material learned in week two was applied directly from the lesson to my day to day life. The information presented in the 360 Magazine lesson inspired me to change my work environment into a more innovative friendly format. 

 Now, as I near the end of the innovative work environment class, I can reflect realizing my goal was met by the course. I was able to identify the best work environment. Co-working stage three of the four stages of a startup best fits my company plan. Creativity, profitability, innovation, communication, and collaboration, are all elements cultivated by a good work environment.  I now feel after finishing the class that my company Antismo will fosters the development of new products, and revenue streams.

 Moving forward, I will apply the material learned by thinking like an employee. Channeling the thoughts of what my employees want, will be the bases for how the environment of each office is set up. Natural lighting, natural material, and clean lines will allow for a healthy vibe while still keeping the structure needed to be respected in the industry. 

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Marketing Strategies Week 4

Strategies for Entrepreneurs, I did not not know what to expect. Having a background in Graphic Design with a focus in Marketing I initial assumed the class would be heavily based in design. Reading the full course description, I soon realized, Marketing is not the element of getting a customer but the overall ability to tap into the consumer’s mindset, to build your brand.

 Coming into the class my goal was to gain better understanding on techniques useful to creating a lasting brand. This goal would be met through assigned course assignments. One assignment that stood out was Discussion one: Branding. The assignment highlighted; branding is what you are, marketing is what you do, and selling is what you say. In addition to the course assignments one article that stood out to me was week threes develop your web presence. The YouTube video touched on key elements: How well you "Google", owning virtual real estate, what key words do you rank for, how many email subscribers do you have, and how many twitter followers do you have. This lesson stood out because it touched on an element that will be a important part of my future business endeavors. Establishing a digital phone and tablet application will put my company heavily in the technology business sector. Since our target demographic resides on social media, the best form of marketing will be through social and digital media platforms.

 Overall, my time in Marketing Strategies for Entrepreneurs taught me the value of planning. It is easy to come up with an idea, but being able to implement it correct can effect the forecast of the company. Moving forward I will allow the knowledge obtained when selecting staff for my personal company. I know that it is key to find individuals who understand the consumer, and also the reasoning behind why the consumer ticks. 

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Legal Issues in Entrepreneurship

Facing ones fear can be hard to do. Going into a unknown situation, understanding your weaknesses and worries that those weakness may get the best of your strengths can attribute to the worry. The feeling of nervousness and fear crossed me when reading the course description for "Legal Issues in Entrepreneurship". I asked myself, "what are my strengths?" Not Law.

Carrying the understanding that I do not know law well I set my original goal for this class to just not drown/ fail. Having owned my own business previously, I was aware of the importance in establishing the correct legal documents in order to protect the company and myself as the owner. Throughout the time in the four week course I learned how to; negotiate properly using multiple negotiating styles and tactics, file proper documentation to protect my company, proper social media guidelines and decipher the difference between a mediator and arbitration.

Based off the information learned in the egal Issues in Entrepreneurship course I now can utilize my new knowledge to save my company money on legal fees. Additionally, I am now knowledgeable about social media. Since Antismo is based around heavy digital and social media elements I will apply how to write a contract for social media accounts the most. Overall my original goal has yet to be met, however I feel that the way the lessons have been taught that I will in fact meet my goal to not fail the class.

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Business Model Development

In life you may run into road blocks, parts of your future path under construction still, but if you follow the signs your detours can lead you to greater unfathomed success. Coming out of Business Feasibility last semester I ran into one of those aforementioned detours in my business endeavors. I found my company was preparing to market a product to the wrong demographic. In order to result the issue the team went back and reevaluated the target audience.  Based on the newly acquired knowledge from my previous class and the write up on Business Model Development I came into this semester with a goal to develop a new minimal viable product and business model.

Over the four week span in Business Model Development my original goal was partly met. Despite my learning the true definition of a Business Model, I failed in producing a new minimal viable product (the work load in addition to my day to day responsibilities left me with little time to produce a new MVP).

Overall I obtained useful knowledge on the importance on a strong Business Model. Additional items learned in Business Model Development ranged from; the importance of breaking down a business to its bare bones to make sure it answers the problem of consumers directly to how to make my business sustainable. Moving forward I will apply the material of this course by launching my company with perfected minimal features and later expand.  

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Business Feasibility

In life when embarking on a new fascinate, it is easy to quickly over analyze what might be forthcoming. Prior to my concourse in the Innovation Entrepreneurship Master of Science program I reviewed the Business Feasibility description. At first glance, I expected the course to offer insight in why my idea would be trust worthy for investors to be willing to invest in. This assumption quickly was supported, yet in a way previously unseen.

 Throughout the past four weeks I experienced emotional ups and down ranging from confidence in my company to feeling as through the idea of the Antismo brand was completely a bad idea. I learned during week to in a response from professor Donald Lipham that my product overall target market had a major hole in it, financing. Instead of bringing in profit from large league the brand would actual be required to pay the league to use the Antismo product solely. Quickly I reworked my entire target market and saved the efforts already made for future pivots.  I also learned the importance in pivots. By planning for pivots in a brand you allow the company to expand into new avenues which keeps the product fresh. Companies such as YouTube, originally offered streaming video clips from users, and now has pivoted into music and full length movies.

 Overall I learned that my original perception of the business feasibility class was wrong in a good way. I now know that my company is ready to be present to investors with the ability to support and offset concerns that may arise. Moving forward the team will approach test based off the new corrected target market. Wither SWOT analyzes, feasibility charts or detailed review tactics I am confident the knowledge gained will better enhance the overall Antismo brand.

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Product Design and Development — Recap

Such as any great chapter book, each time one chapter ends another meaningful one begins, similarities to life as master’s student. Looking forward to one’s next semester I must take time to analogy the past three weeks in product design and development.

 When embarking on my next leg of my journey coming into product design and development, one fully did not know what to expect. The gamete of possibilities to what could be ranged from analyzing current products deciphering what was good and bad about them, all the to flat out developing our ideas from thought to finish. With my lineage in art beginning in industrial design, I looked forward to the class from day one. Originally my goal was to design a final product and learn how to make sure it was correctly developed for the consumer. Yet in the end only part of my goal starting out was met.

 Having finalized the course, I met my goal of understanding how to correctly develop a product for the consumer. In gaining understanding of the lean start up methodology and the importance of Minimal Viable Products, I quickly learned my want to design a final product was overzealous. Rapidly it was made clear that my focus should be solely centered at this stage on learning how to develop a product.  

 Key lessons were learned during my time in product design and development there are not good ideas but there're amazing excuse, and the consumer roll is more then just at the buying stage. Understanding MVPs was the greatest knowledge gained this semester. Being able to get insight from consumers during the infant stage of design enhances quality. Additionally, I learned that even if unable to design the final product, having a MVP (even if just a one-page webpage talking about the product) is a great way to translate ideas to consumers and potential investors.

  Advancing to my next business innovation entrepreneurship semester I plan to begin applying the information gained. Overall the goal to develop a product to reduce confusion in sports coach to player relations and to help enhance the views experience is still my focus. In the mean time, I look to use the knowledge to add to my presentations when speaking to current graphic design students, sharing the concepts of the lean start up and design thinking.

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Business Venture Research — Week 4

“Your only as good as your research” has been a quote I have carried all four weeks of business venture research. Finalizing my last week one reflects on the class as a hole. Entering the business venture research course I hoped to understand the importance in research. I set my goal to not only learn the importance but as well learn different technique on going about acquiring valet research.

 As earlier as week one, my answer came in understanding the importance to research. I learned that not only should a company use research to establish their target market, but in addition they should be conscious of the cost. Research and be costly. Not every form of research is valid. Since my goal was met so early in the course I was able to set my focus on solely learning.

 Items in which I learned from the course were broken down by each week. Week one I learned how to identify business opportunities. Week two through four I learned; The importance in culture (Zappos.com presentation), How to do industry research, and how to conduct a interview of a business founder.  In addition to the aforementioned major topics I learned how to plan out a grocery business. During the grocery discussion assignment, I realized that to be different can be as simple as offering better prices or quality of good. A company can be successful based off their understanding of the market, and research allows companies to obtain this information.

 All and all I learned a lot from the business venture research course. I look to move on in the business entrepreneur mastery program, applying what I have learned from this course in the process. Establishing my business with good culture, useful research at an affordable price, and paying attention to trends will catapult me in overall successful ownership.  

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Creativity and Innovation Recap  — Week 4

The Obtainment of a master’s degree is an accolade few scholars achieve. Dedication and diligence combined with understanding each course along the journey commences in receiving a master’s degree. Currently as a full sail student with a bachelor’s degree in graphic design, I look to gain my masters degree in Innovation entrepreneurship. Finishing up my second semester in the innovation program one reflects in analyst of what I have learned from my current course entitled Creativity and Innovation. 

 Leading into my second course at full sail ones, perception of what the creativity and innovation course would entail. Originally I thought the course would be focused on understanding how to communicate clearly with customers and stakeholders so that they grasp the innovative theory of the overall company vision. Now four weeks in on the brink of finishing the creativity and innovation course I have a better understanding of what the class is about. Creativity and innovation was broken into four weeks. Week one we looked at what entrepreneurship was. From this I learned that though there is no set formula to become and entrepreneur common traits carry in those who are entrepreneurs. Week two of the course we identified the similarity and differences between creativity and innovation. Overall the contrast between creativity vs innovation was apparent in the trait of tangible and intangible. Innovation is different from creativity because innovation can be measured over a period of time.  The last two weeks in the creativity and innovation course (weeks three and four) highlighted approaches business take that maximize their success. Design thinking and empathy both were taught, showing the importance of the consumer.

 All and all, the four weeks have given me additional tools usefully to establishing my business. Understanding who your target market is the foundation to a successful business.

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Week 4 | Timeline - Innovation Entrepreneurship

Mastery Personal Development and Leadership — Understanding the identify the guidelines of what counts for Mastery and what is an outlier.

Creativity and Innovation —  Understanding how to communicate clearly with customers and stakeholders, so that they grasp the innovative theory of the overall company vision.

Business Venture Research —  Understanding how to research, with the sole intent to make the business fit the consumer. (Interview, Survey, analytics)

Product Design and Development —  Designing the right type of product for the right market. (Creative Plans) 

Business Feasibility —  Understanding the problems in business fields, and if idea development are feasible.

Business Model Development — Mapping out business guidelines such as overall business perspectives, revenue streams.

Legal Issues for Entrepreneurs —  Understanding business legalities

Entrepreneurial Finance —  Gaging of cost, income and output of business (private entities vs public)

Marketing Strategies for Entrepreneurs —  How to market the brand, traditionally, and unconventionally

Innovative Work Environments —  Understanding work flow, profitability

Business Model Implementation Management —  Learning how to bring business to life.

Business  Model Presentation and Thesis — Present industry ready business plan, with the intent to use my new product and with knowledge start my own business

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Personal Learning Network

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Linkedin: https://www.linkedin.com/in/jonathan-bolling-218a8457

References:

(n.d.). Retrieved April 22, 2016, from https://scholar.google.com

(n.d.). Retrieved April 22, 2016, from http://www.plainfieldlibrary.net

(n.d.). Retrieved April 22, 2016, from http://www.lynda.com/member

(n.d.). Retrieved April 22, 2016, from http://web.b.ebscohost.com.oclc.fullsail.edu:81/ehost/search/advanced?sid=61d116b1-ef47-4ac0-9842-990f288188c5@sessionmgr106&vid=0&hid=110&preview=false

(n.d.). Retrieved April 22, 2016, from https://owl.english.purdue.edu/owl/resource/560/01/

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Innovation Entrepreneurship

Embarking on my master’s degree in innovation entrepreneurship I look to gain insight and understanding from the view point of others in the field. Having the ability to understand people's perspective will help me in my quest to see life for its layers. I feel as though to innovate you must know what, why and who you are innovating for. The knowledge acquired from each class over the next year will be vital in obtaining my overall goal, achieving Mastery in the field of Innovation. 

 Inspired every time I look at my child; it reminds me how important it is to stay in touch with my youth. Reflecting on dreams, of one day being about to help the world. I use what I learn now and marry the past with the present. Though only in my first class in route to my masters, I now know I think with a "dimensional minded" approach. (Greene, pg. 177, Mastery) Additionally, I take the moments with my son and use it as research. It is easy to reflect however it is not as clear as experiencing it while it is currently happening, thus I ask him about his dreams. Even his smallest dreams, such as wanting to go to outer space, intrigue me. Creatively thinking based off what he says, I look now to the stars and wonder what else is out there in outer space for him to study. What items need to be reinvented to withstand in outer space? The questions that arise from what he says, I use as the bases for what I push to innovate.

 Continuing on my path to mastery, I set challenges for myself. After each semester I plan to take what I learn and write a concept for a new invention or thesis for motivational speech. Holistically, I plan to continue to work in my under grad field, graphic design. Ultimately I will use my master’s degree to fuel my passions, and obtain innovation Mastery

 Reference

Greene, Robert. Mastery. Penguin Books, 11/2012. VitalBook file.

Father and Son [Personal photograph taken in Indianapolis]. (2015, March 14).