Assignment 13A - Reading Reflection No. 1

Miracles Happen - Mary Kay Ash

What surprised you the most?

I was most surprised to learn that Mary Kay kept a strong faith even with all of the unfortunate events that she endured throughout her younger years and that she did not give up on her business concept, even when others did.

What about the entrepreneur did you most admire?

I admire that Mary Kay was able to create a company that encouraged women to gain self-confidence and independence which is something that is very hard for most women, especially during the era in which she was building her business.

What about the entrepreneur did you least admire?

What I did not admire about Mary Kay was her view on how women should dress and appear. She did not believe women should wear slack because it was not “feminine” and she believed that women should always dress to be attractive, i.e. hair, makeup, nails done. I believe you can be a very successful women without having to be all "dolled" up.

Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

Mary Kay faced adversity as the company started during a period when women did not earn the same wages as their male counterparts. Women were expected to work long hours and still take care of their children, husband, and their home. Mary Kay wanted to change that, and she did.

What competencies did you notice that the entrepreneur exhibited? 

Mary Kay had the ability to lead, motivate, encourage women and persevere even in tough situations. Mary Kay also had the ability to allow others to contribute and help run her business.  

Identify at least one part of the reading that was confusing to you.

 In the beginning of the book Mary Kay talks about how she had all of her bottles and labels created and ready to go and later she goes on to talk about how she went to a party where a friend has some beauty products that worked well. She then goes on to talk about how she purchased and formulated those products to be the original Mary Kay products. It is unclear to me if she purchased the products first or if she had her business concept designed and ready to go prior to the purchase of the product.  

If you were able to ask two questions to the entrepreneur, what would you ask? Why?

I would like to ask Mary Kay if her business concept was something that she thought of from the time she was little or if the idea came later in life.

I would also ask how Mary Kay managed to keep such a strong faith while building a successful life.

What do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

Mary Kay’s opinion of hard work was to keep going until you get the recognition you deserve and then keep on going. She never stopped, even in the toughest of times she endured and preserved. I do share a similar opinion.

Assignment 14 - Halfway Reflection

Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?

The Principles of Entrepreneurship course has required me to utilize time management and creativity. The due dates in the course are typical of most online course – during the weekend. This means I have to make time after my weekly work schedule to review the lecture materials and work on the assignments, that way I am not spending my Fridays and Sundays doing school work. In terms of creativity, the assignments so far have been anything but boring. The assignments have required me to think deeper and be creative with my entrepreneurial work and I have enjoyed them, thus far. In addition to time management and creativity, I also have developed a different perspective in regard to negative ways of the world.  Instead of viewing the negatives as bad, I can now look at them as opportunities. I enjoy the class!

Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

There have been two instances in this course that have brought me close to giving up and not completing the assignments. The first time was in one of the very first assignment in which we were required to interview individuals regarding our chosen opportunities. I felt like I was not competent enough in the realm of entrepreneurship to really know what I would be asking during the interviews. Instead of giving up, I went back and watch the lecture videos and did some outside research of the topics to become more comfortable with what I would be doing. The second instance was in the assignment that required us to do an “Elevator Pitch”. I had a very hard time with this assignment because I am a perfectionist when it comes to tasks like this. I recorded myself at least 10 times with a few mental breakdowns in between because I just wasn’t getting it “right” in my mind.  I took a break for about an hour and came back to do a final recording. I think this break helped me overcome my worries about the video and the feedback received from my classmates will help be push through in the next similar assignment.

Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset'?

·       Be an advocate for the business opportunity that you will pursue in this course. Pick something that you would actually want to do in the future. It will make the numerous assignments easier because you will be passionate about what you are pitching.

·       Be open minded to the teaching of the course

·       Give yourself plenty of time to complete the assignments so if you get to a point where you are struggling and want to give up, you still have time to overcome and submit the assignment.

Assignment 12A - Figuring Out Buyer Behavior No. 1

SEGMENT: Dog owners who are away from their homes for a long period of time (9+ hours & days).

NEED AWARENESS: After conducting the three interviews it appears there are various times that the need arises for a daycare & resort for dogs. The location however is the same as all interviewees live in Bradenton. How and when the need arises is due to the following scenarios provided by the interviewees:

1.     The owner has an extended day at work, and they are unable to go home to take care of their dog – i.e. walk, feed, play, water.  

2.     The owner has an unplanned work trip pop up and they are short in time to find an in-home sitter to take care of their dogs.

3.     The owner is going out of town for vacation and they need a place to take their dogs.

It seems the need arises during the day, overnight, during holidays, weekend, and weekdays – really any day of the year!

INFORMATION SEARCH: All three interviews said they start their search by reaching out to their dog loving friends and family for recommendations on places to take their dog(s). Once they check with their friends/family, they Google search for the recommended places. This turns up similar facilities in the search engine. They all said that they read reviews and browse the websites of multiple facilities before making a decision. Two interviewees said they also check to see if the recommendations have Instagram or Facebook and they will check their page/pictures out and look at tagged posted to see if other customers are happy with the facility.

CONCLUSION: The segment of dog owners that are away from their homes for a great period of time are very aware of their need. They often find their selves searching for a new facility to take their dogs because they are not fully satisfied with the available options. This makes me more confident that my business concept is needed in my community. Based on the responses regarding information search, I will need to have a strong social media presence and a nice website that contains information about the business, services and prices.