Angie LaPlaca

1) The highs of this class were probably in the material itself. The lectures were full of valuable information. The books we were able to choose from for reading reflections were also great, and I learned a lot from the ones I chose.   I probably learned the most through the process of developing a business idea versus seeking an opportunity to fill an unmet need. The lows for me were the interviews. Every semester I have at least one class that requires me to do interviews and I always dread them. This class had more than others I've had in the past, and it was sheer dread every time. I think the elevator pitches were I experienced the most drudgery, but also where I could see my own improvements the best.   2) I think my most formative experience was at the beginning of the class. I started with a restaurant concept, but as I looked through future assignments, I could see that I would struggle with that concept. There are already plenty of restaurants in my area, ...

I have not received any feedback on my venture concept, or on "What's next?" I have not received peer feedback from any students this semester. To complete this assignment, I will have to self-analyze and come up with some improvements. There's plenty of flaws within this venture concept, but I did feel that I was able to further develop my concept through this assignment. I've put my latest venture concept below with changes made in bold. OPPORTUNITY  The opportunity I have identified is the need for a small business/start-up incubator in Volusia County. The potential customers, or  who has the need , would be low-income, perhaps older residents of our area . The nature of the need is a low-cost space to work that also includes access to resources that a small-business or start-up needs. The forces creating this opportunity are the number of adult education classes in the area, the number of low-income residents, and the median...

1) It's interesting to consider the concept of an exit strategy. I developed the idea of an inclusive business incubator for the sole purpose of this course. I set aside passion and interests because those factors don't always make for the best business plan. So, with that said, if I were to open a business incubator in my area, I would have no intention of working there for several decades. I would work there for a few years, oversee each aspect of operations, and set a solid foundation for the future success of the incubator. 2) The types of businesses I would open in real-life are ones that don't really fall under the entrepreneurship model set in place into this class (meaning identifying an opportunity to fulfill a need). In real life, I would open a restaurant or brewery. In the beginning, I tried to use that business idea but felt it just didn't apply to many of the assignments because it's already been done many times before. I felt like I needed to try ...

I selected a book from the entrepreneurship category called How to Fail at Almost Everything and Still Win Big: Kind of the Story of My Life by Scott Adams. Mr. Adams is a very successful cartoonist and the creator of the well-known comic strip Dilbert . 1) What was the general theme or argument of the book? The general theme of the book was a history of the author's many failures, both personal and professional. He told stories about childhood failure to failures he had within a week of writing the book. Some failures were not directly his fault. With each scenario, he breaks down what the causes could be. For example, in the instance of his failed restaurant venture, he explains all the different factors he believed contributed to his failure (new restaurant strip mall opened just down the block, rent was high, décor and food didn't mesh well, overestimated customer expectations, etc.). He uses some humor (not too much because he says then people would not take his advi...

I have failed many, many times in both this class and other classes. Getting in-person interviews has been my downfall. I have missed several assignments in this class, and one very major 100-point assignment in another class. The first reason this failure happens is because I am nervous. I only know so many people and I am not going to approach a stranger to ask them about something I need for school. I also wait too long to contact people; if I have another class where I need to interview a professional or do a job shadow next semester, I am going to contact them the first day of class. I've had professional reporters agree to let me interview them and then not answer my email for three weeks (past my assignment deadline). Most people ignore my requests/emails. For one class, my email was forwarded to every teacher at my former high school and only one responded. So maybe in addition to waiting too long to start the interview process and letting my nerves get the best of me, I a...

Existing Market.  Step 1: I have the base concept for the incubator nailed down, but I would like to expand from just an incubator to more of an organization that nurtures and supports all local and small businesses and entrepreneurs. As I worked through the last assignment, I started to think about a networking group that fosters a culture of innovation. Step 2: I talked to Katie (social media marketer/small business SEO) about the business incubator venture concept. She offers some similar services to what I would like to offer for my incubator like website building and social media management. She likes the idea of incubator and said she would work out of there if the location was right. She said the next trend in entrepreneurship is moving towards an all-digital platform for everything from advertising to services. I talked to Colt B., a local well-known advertising agency owner. He has customers that are small local businesses as well as national chain restaurants...

OPPORTUNITY   The opportunity I have identified is the need for a small business/start-up incubator in Volusia County. The potential customers, or who has the need , would be young entrepreneurs who have their own idea or opportunity but do not know where to start. The nature of the need is a low-cost space to work that also includes access to resources that a small-business or start-up needs. The forces creating this opportunity are what seems to be a cultural upswing and idealization of entrepreneurship. It seems like no one wants "to work for someone else" and many people I have talked to while researching this venture concept have their own idea for a business. The market would be geographically defined to include Volusia county. Surrounding metro areas already have access to at least one business incubator (Orlando, for example). The target demographic would be from 20 to 30 years old, often a recent college graduate. Customers currently satisfy their need for a st...