Week 6 Reading Reflection

I thought that this week's reading was very interesting in a sense that it gave me a chance to look at entrepreneurship in a different form and fashion. In this week's article it focused on competition and the importance it plays in starting a business. One of the most surprising and interesting things that I learned when reading this article is about all the barriers to entry and what they entail. One barrier in particular that I did not know about was economies of scale which is a barrier based on the industry that you decide to enter. If I could ask the author two question I would ask him how he feels about collaboration with the competition and what is the best way to position your business ahead of the competition because these are questions that a person entering an industry might also have. I think that this article really helped show he importance that competitors make when entering into an industry that is weak versus one that is strong and competition as stated in the article ultimately affects profitability. I think that the author made very good points and was very detailed about the subject in general.

Idea Napkin No. 1

1. Something that I love is learning about people and what makes them do what they do. I think that is one reason why I went into marketing because in addition to that I like to know what certain things that people see that cause them to take actions. I'm experienced with marketing. promotion and lastly just being personable. I strive to satisfy the needs of others that rely on me or certain things. I see this business plan being something that I can manage while still pursuing my career I want to be able to give back to the University of Florida.

2. What I am offering to the customers is a way to solve the problem of low diversity with snacks and other snacking items that are not offered on campus by bringing the good to them . When you ask many if the students what their favorite snack is most of the time that item is not available on campus or if it is the item is not within reach. I am offering the customer time, form and possession utility.

3. The main people that this service is being offered to is college students. But just not any type of college students students that are up during snacking hours studying, students that study at home or at the library most around campus. College students that also do no town vehicles and or do not like driving and whom are far away from convenience stores. Lastly, diverse snackers whom product is not commonly available in snack machines.

4.My customers care because time is money in the college world. With 24 hours not being enough time in the day for most college students this will help them save an average of 30 mins and also keeps them from having to physically drive and break the activity that they were currently doing.

5. Something that sets this apart is that this is an idea that is catered to the busy college student with not enough hours in the day. This will also offer a large variety which many others do not. Another thing that sets this apart is the fact that there is no contemplation on whether the snack is worth buying or not because they are snacks that the customer has already had. Working as a 3rd party in the business makes it easier for the business to effectively deliver what the customer expects.