ENT3003

1) Opportunity     I have been kayaking for several years now whether it be fishing, partying, or just going out for a sunset trip with my family. I enjoy being on the water and the physical exercise that comes with kayaking but over the years have realized that there is not enough room for all of the things I need. I have tried several different kayak styles and brands and they all seem to lack one thing or a another. If you produce a kayak that has enough room for all your belongings, it will be slow and harder to paddle and probably won't track too well in the water which is why most of the kayaks on the market don't have enough space on them. This makes it difficult especially when fishing because of all the gear you need to cary with you. Many different consumers have this problem because kayaks can be used anywhere that water is present. I have also noticed that this product can be used for paddle boarders and canoes alike. The main market is for any human ...

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?    I have mentioned before that I don't really see my business venture as a full time job or a product that would really be able to take off and make a lot of money. I would love to do it as a hobby or a side hustle to make a little bit of extra cash on the side. If I were offered a good amount of money to sell my business, I definitely would and use that money to start another company. I get bored of things pretty quickly so I see myself starting a few different companies throughout my life, selling them, and then starting another one.  2) Why have you selected this particular exit strategy?    I think that with the way I like to live and work, this strategy would be th...

Innovation and Entrepreneurship, Peter Drucker 1) What was the general theme or argument of the book?    As the title suggests, this book went into detail about innovation and entrepreneurship in different types of businesses from small start-ups to large well established companies. Towards the beginning, Drucker spoke about how innovation brings new products to the current market or can even create a market in and of itself. These innovations can be brand new scientific discoveries or the restructuring of a certain process. He also spoke about how in order to start your own business and be an entrepreneur, you need to know how a business runs and how to effectively manage it. Lastly, he provided guidelines so to speak on how entrepreneurs should go about starting and maintaining their business.  2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?    One of the things that Drucker spoke about was the necessi...

1) Tell us about a time this past semester that you failed:    As many other students that are in this class have taken or are taking, I am in managerial accounting. I have tried watching the lectures, reading the textbook, and using outside resources to do well on the tests but I just can't seem to get the hang of it. I got a mediocre score on the first test and bombed the second one. To me this is a failure because of the fact that I normally don't have a problem understanding material and I got a high A in financial accounting. After the first test I tried to not use the lectures because they confused me more than the textbook but I ended up with a worse grade than the first test. 2) Tell us what you learned from it.      I learned that it's  important to stay on top of the material with this class and genuinely try to understand it rather than simply memorizing the formulas. The professor writes his questions to see that you understand the concepts ...

Existing Market: Step 1: I think that this business concept might be able to be expanded and more features added. There are always new things that can be added to a product to make it better. Something that could be added are paddle holders so that you can attach the paddles to it when you aren't moving. This has been an issue in the past where I would set them down on the kayak and they float away while I'm not paying attention. Step 2: After talking with 3 different potential customers, they gave me some ideas that I hadn't really thought about yet. One of them said that we could use the party pack as sort of advertising for certain rental companies. We could make them in the colors of the rental company and put their brand name on it so that while people are kayaking, they could advertise for the company they rented it from. Another one said that we could bring them to certain Universities. The University of Florida rents kayaks out to students that they can take to ...

Opportunity    I have been kayaking for several years now whether it be fishing, partying, or just going out for a sunset trip with my family. I enjoy being on the water and the physical exercise that comes with kayaking but over the years have realized that there is not enough room for all of the things I need. I have tried several different kayak styles and brands and they all seem to lack one thing or a another. If you produce a kayak that has enough room for all your belongings, it will be slow and harder to paddle and probably won't track to well in the water which is why most of the kayaks on the market don't have too much room on them. This makes it difficult especially when fishing because of all the gear you need to cary with you. Many different consumers have this problem because kayaks can be used anywhere that water is present. You can use them in a lake, lagoon, river, or the ocean. As of now, customers just take less equipment with them out on the water or b...