Week 5 Reading Reflection

1. Something that surprised me during the reading is the different external and internal problems that are experienced by entrepreneurs when they are trying to pursue a new venture. The main two external problems that are experienced are market knowledge and customer contact, while the main two for internal problems are cash flow and adequate capital. Realizing that these are some the main problems experienced gave me a different outlook on the whole process.

2.  A part of the reading that was a little confusing to me was the area in the text that talked about the financial roles that inhibit a business from succeeding. The different terms that they use when it comes to initial start up and the logistics.

3.If I could ask the author two questions I would ask the author what the personal factors also inhibit  venture from succeeding and also another question I would ask the author are the best steps to take from failure. I would ask these questions because I think if companies implement and use some of these strategies it could help with future problems.

4. There is really not anything in the text that I disagree with.

Elevator Pitch No. 1

The name of my product is the Snack &Tap app. This app is basically solving the problems of students wanting to snack and have a more diverse range of snacks with the simple touch of a finger. The app is going to be geared towards young college student and professionals that like to snack but don't have many options to get those snacks and do not like the choices available in machines.