The Twenty Percent

I interview a person that I know that lives in my country because I feel she is an example of a successful person. She started selling swimsuit for girls. However the most interesting thing about this is that she makes the swimming suits. Mahogany goes to your house and designs the swimsuits just like the customer wants. Also, she always takes with her the materials to show her customers how the swimsuits will be made. This is an advantage because her customers tell her directly how they want their swimsuits done. I interviewed her and she agrees with me that it is very important to understand the 20 percent because nowadays there is a lot of competition in the market and for success firms have to study their customers. For Mahogany, her 20 percent are girls between 10-40 years old she has worked for many girls over the past 4 years. She thinks her 20 percent are a girl between 15-26.She has done a page in Facebook showing her work and also in instagram. Social media nowadays helps people promote their products. I asked what she made to know her 20 percent and she told me that is has been easy for her because she has a lot of friends. Moreover, her friends told their friends and that is how her work became a success. Girls started to call her and she become more famous. In summer season, she needs help because her work is not only selling the product, but she also makes it. In a future, she plans and finding people that could help her make the sminsuits.

Week 8 Reading Reflection

For this weekly reading, what stood out the most was the difference between debt and equity as methods of financing. Debt is a secured financing of a new venture that involves a payback of the funds plus a fee, which is an interest for the use of money. In other hand, equity involves the sale of some of the ownership interest in the venture in return for an uncured investment in the firm. I have some question does a Debt have more advantages or disadvantages? However,  for this reading I don’t disagree with the author because this is something new and useful for me.

Half-way Reflection

1) What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 

For this class, I have become a more discipline person because most of the assignments are online. I learned to manage my time wisely and also it is important to be aware and write down all the activities I have to accomplish. Therefore, organizations has been essential to keep up with my work

2) 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?

Yes, because for the first assignments I was very shy about doing the interviews to random people. However, with time I have developed more personality and now I don’t care if I have to talk to strangers. I feel this is good exercise for the future.

3) 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’?

For future students, I recommend them to forget about talking to random people because this is all for experience and it will be very useful for a future. Second, organization is very important because if you contently forget to declare and share you will probably fail the class. Finally, personality because this is a very important skill entrepreneurs must have. Without personality most it is not possible to be a successful person.

Week 7 Reading Reflection

The reading this week was very interesting and new for me because I had no idea that “ market segmentation” was something very important for the organizations in order to succeed in the business world. What captured my mind the most was that over time people changed their minds about what they want to buy or what they would like to buy. Therefore, companies have to be in constant change innovating and investigating what the customers want. Technology is something very important all organizations have to be aware and changing. So, companies have to do segmentations in order to develop this such as advertising and new products. This article was worth reading and don’t have any questions and I don’t disagree with the authors because is this something new for me.

Free Money

I went to a Burger King because I know there are young people there, and it’s easier for me to talk with people my same age. To start the conversation first I introduced myself and told them I had to give one dollar to all the people I approached. This exercise was very complicated because that the begging it is very difficult to just approach to people and give money away. Giving a dollar away was harder than what I expected. This is because some of the people I talked to didn’t what to receive the money. 

Elevator Pitch No. 2

For this second elevator pitch , I feel I have more experience because I know more about my service.The interviews helped me have more confidence because I found an opportunity that will be useful to many students.

Week 6 Reading Reflection

What stood the most of the reading was the threat of substitutes of products and services. This force is very important because organization have to be aware of them all the time, and make strategies to be better than the competitors. If organizations are not aware, substitutes and pull them off the market. In addition, it is important to keep up with technology and always focus in what the customers want. Something that confused me about this reading is to understand the influence of the government. For this reading, I have no questions because all this information is new. I don’t disagree with the author because I feel the article is very clear and easy to understand.