1st Guest Speaker!

Over the years I have sat through many guest speakers almost all of which have only studied their topic and not lived it. My criteria for taking a guest speaker seriously is if you can google them and come back with more than just a facebook profile as their result. Ron Kornfeld turned out to be the real deal.

Ron turned the business plan from a "required element" into something which actually seemed to have some value and worth putting time into. I got a lot of my questions plus more answered by all the questions brought up. The part that I found most helpful is what your plan needs to include and look like to be taken seriously. His input actually made an impact because he has actually been the one denying and giving opportunities through the use of the business plan.

There were three things which must be watched throughout the paper

1. Uniform Depth

2. Internal Consistency

3. Editorial perfection

Something I am going to be aware of is uniform depth since a shorter section of my business plan may show a weakness and lack of knowledge I am going to need to make sure every section of my business plan is completely researched and to make sure I don’t go into too much detail on the aspects I am more familiar with such as marketing.

My paper is also going to need to be consistent and make sure there are no conflicting statements which will make me look less credible.

The editorial perfection is going to be one of the hardest aspects for me especially since it is going to be such a long document. I am going to need to have many people read over my final copy before submitting it either to the professor or prospect employer.

IDEAS!

Sooo I have come up with a few ideas for starting up my own business. They do involve new technology of some sort but I hope my final product I will choose will have to do with the computer industry.

My first idea was due to my girlfriend spending hundreds of dollars trying to alter her skin color at the tanning salon. Since she is a fan of spray tans which cost (25-60) dollars. WHAT A WASTE OF MONEY!! So my invention involves a device which can be used in your shower and will use a high pressure CO2 canister which includes the tanning solution. This canister will lock into a tube system which will spay the user with many holes. This device can be monitored by a electronic device which can time and direct the user.

My next idea is a computer data base/retriever for canned foods. This unit can be installed in your pantry closet and makes it easy for you to find your canned food since it is almost impossible to see what you have when they are all stacked together. By entering the type of canned good you want it will use belts to bring it forward. It can also let you know what you are running low or out of when going shopping.

I have been working at Sprinker Recreation center for 6 years and have been playing hockey for a lot longer. We use a Zamboni which cleans the ice. Why not create a zamboni or addition to one which cleans the ice something like the robotic vacuum cleaners.

I also wakeboard a lot and sometimes my friends don’t have time to tow me. I want to create a device which can attach to your Sea Doo or even boat which allows you to steer and accelerate from your handle while riding behind the boat.

Entrepreneurship

When a majority of people think about becoming an entrepreneur they think about the notion of money which is thought to be involved with becoming an "entrepreneur". They forget all of the possibilities of failure and loss of money involved with the process. The desire to become the next Bill Gates makes a lot of people want to become one without really knowing what is involved.

The truth is that you must have a love and desire to make your product work. Without this you have nothing. I liked how the article stated that you must have three things. You must first be on the cutting edge, build long term value, and have freedom. The article states "If achieving these three objectives is not of basic interest, then the very thought of becoming an entrepreneur should be extinguished." I like how it directly tells you exactly what you must have to be successful this will save people a lot of time.

Courage is also something mentioned that an entrepreneur most have which is very true. It takes a lot of it to risk your money, future, and reputation on something you do not have any control over how other people like your product. I think it would be great to be able to come up with an idea and develop it until it is desired but a lot of people. It would be an amazing accomplishment to create something which is found in many people’s homes which would drive me to work hard on my project.

Business Ideas

There are many different business ideas which I have thought about over the years. It started out when my dad who is an architect designed a tool to rig our windsurfing equipment a lot easier and faster than any other method. This tool hooked to the sail and helped pull it down the mast by providing a handle. A lot of people showed interest and we sold about 50 of them. We sold them not to achieve a large profit but to help our fellow windsurfers. There is still a need for this product with the new generation of people in the sport.

Another need I see is a low budget pressure washing business. Many people in my neighborhood need their patio or roofs cleared of moss and debris. I have had many people offering me 50+ dollars just to do a 1-2 hour job just cleaning off their decks. Many people do not have time, energy, or equipment to get the job done. If I was to either use our high quality pressure washer or invest in a professional quality one I could start my business. The marketing would originally start aiming at a market of elderly and local busy people. I could put an ad in the newspaper or little nickel adds as well as posting ads of craigslist. I feel that I would find a large customer base due to the lower prices I would be charging compared to other companies. I could see what the demand for my service was and then employ additional people to get the business growing.