Assignment 22A - Elevator Pitch No. 3

I received comments from two peers for my second elevator pitch. Both were mostly positive on the overall delivery, and again reinforced the viability of the product.

The main critique from the first comment was that the product would likely get resistance from customers, which was already known. Because this feedback was received earlier in the process, additional focus on education and culture shift had already been added to my efforts. Although, it is good to get constant reminders on this so I do not lose sight of it.

The second comment was the most constructive critique received and had the potential to provide me the most benefit to make changes to my pitch. However, at the same, time I found it to be most unhelpful. It was suggested I project more credibility, to convince the audience they should listen to me and invest in my product. While I get that, I wasn’t sure what about my existing pitch the commenter found not to be credible or could be more credible. I was well prepared and delivered the content well, had researched the subject and provided statistics, and incorporated feedback from pitch #1 to differentiate my product from existing ones on the market. I wish the feedback was more specific, with examples, so I could have understood better what they saw to be missing and I could have taken action as appropriate.

Because the feedback was not specific on how my credibility could be increased, I decided to try and incorporate the suggestion as best I could by more explicitly stating my product’s differentiator: that the technology was imposed on the smart device owner versus current products that rely on the device owner to voluntarily use the product. This, I hope, will be a clear line between why someone should invest in me instead of someone else.

https://youtu.be/OR639GFwl3c

Assignment 21A - Reading Reflection No. 2

For this assignment, I read The Art of Social Media: Power Tips for Power Users by Guy Kawasaki. The book really only had one theme or argument, and that was about social media optimization. It read like a technical manual on “how-to” leverage different social media platforms, a book broken into 123 different quick tips, grouped into categories by chapter.

My biggest surprise in the book was frankly that it was not at all what I was expecting. It was a list of “Do’s” and “Do not’s”, when leveraging social media for personal and business purposes. I ordered the hardcover book from Amazon and, to my surprise, it was riddled with what were clearly “hyperlinks” to click and see examples for further explanation or elaboration on an idea from a linked webpage. The book was clearly intended to be read as an e-copy, with access to the internet for linking to other websites, so I am completely confused as to why they could publish this book in regular print. All that being said, I was expecting suggestions for practical application of social media and how to use it to further a business, with “real life” scenarios as examples. To think about which social media to use and how, based on your business goals, and how other businesses have similarly used it to maximize results. This book had none of that, to my extreme disappointment. It did, however, accomplish the goal of suggesting how to maximize views and interactions with your social media profiles. However, simple use and interaction does not necessarily translate to business results or achieving your desired outcomes.

I believe the main connection this book had to ENT3003 thus far is twofold. The first is continuous exposure to social media resources that I am either not familiar with, or how I can leverage them further as a more advanced user. A great example is that this class was the first time I have ever created a blog. Second, it provided the technical framework for how to set up social profiles to ultimately connect with others for furthering business ideas, finding investors, and creating networks for mutual benefit.

If I had to create an exercise for this class based on the reading, it would be one that had practical application, especially given the blogs we are creating this semester. On pages 82-85, the “tips” were Add Share Buttons and Entice People to Follow You, and the exercise would be to have the class add these to their blog page. It shows you how to add share buttons to other social media sites. This can be used either to have people easily share your blog content through their social media profiles, or allow for viewers to easily follow you on your other social media sites.

Assignment 20A - Growing Your Social Capital

Hello group!
Unfortunately, given the type of product I aim to market (smart phone development/manufacture), I struggled with how I could appropriately (and legitimately!) identify the appropriate individuals and complete all 3 interviews for this assignment. While a bit frustrating (I wish I would have looked ahead at assignment requirements before choosing a product!), I ultimately did not feel comfortable trying to "fudge it".
Catch you next week!
Cameron

Assignment 19A - Idea Napkin No. 2

To kick off the Idea Napkin No. 2, I must state that much of the first part of my assignment will be very similar to, and contain identical components of, my initial submission in Idea Napkin No. 1. The intent is not to self-plagiarize, or get out of writing the assignment, by any means. Rather, the feedback I received did not give critical feedback on how or what I should change regarding my original Idea Napkin components. Rather, both students reinforced my product idea, and my idea Napkin statements. The main suggestion was to continue to reinforce education, so my edits and enhancements will focus on this, with an overall self-critical lens based on what I have learned about my idea goals.

You.:

My strengths include having a high level of responsibility, a drive to achieve, and being deliberative in my decisions and actions. I can make sense out of chaos, and can simplify complex situations. Analytical thinking comes naturally, and I can flex between the tactical and the strategic. I have extensive experience in leadership, and aspire to roles with increasing responsibility and challenges. Part of my leadership skill comes from being a maximizer, recognizing the inherent skills people have, and deliberately developing those skills and exploiting those strengths within a team to accomplish shared goals. This business I see as life changing (and life-saving), as it plays a key role in shifting the current culture regarding how we think about driving and the responsibility that privilege demands.

What are you offering to customers?:

The product I am offering is literally a life-saving product. Customers will be able to utilize a tool that prevents them, and prevents their fellow drivers, from being able to utilize their distracting smart devices while behind the wheel of a vehicle while it is in operation. It places constraints on those drivers that cannot self-regulate their own actions, and provides a safer environment for all drivers on the road. Part of the offering will need to come in the form of education, to allow people to draw conclusions regarding the issue and habits we have that contribute to the problem, and how this solution is the obvious path toward resolution. Additionally, it will require constant reinforcement and marketing to shift culture, and create a recognized need.

Who are you offering it to?

While this product will benefit all people that come within proximity of any road, not all people will be customers. The demographics of those that will use this product are none of the traditional ones we typically think of. (Although, the only possible ones could be age, that you must be the legal driving age within the state you reside, as well as religious beliefs that prevent driving or the embracing of technology.) However, largely, this customer is demographic “neutral”. All customers have only these two things in common; they drive motorized vehicles, and they own a smart device. Unfortunately, not all of the customers know they are customers in dire need of this product, because they have not yet self-recognized they are part of the problem.

Why do they care?:

The customer will care because they will be concerned with their safety, the safety of their friends and family, as well as the safety of the strangers they share the road with. They will also care if regulation requires that they comply to avoid adverse legal consequences. Insurance companies may also offer incentives for using the product, as it will be an element to a driver’s overall risk assessment. Lastly, they will care only once they are made aware that they need to care.

What are your core competencies?:

My main edge is that currently nobody utilizes this type of technology for this specific purpose. Therefore, a patent on the idea is priority. Also, initial customers could include insurance companies, as well as smart device producers, for contracts and deals that help protect (at least for a time) the proprietary technology.

I believe that these elements do fit well together, and it is a viable solution to a problem that current deterrents have not been able to affect. While I do not feel like it is out of joint, my competency is potentially the weakest part of the business concept. As with any technology like this, this is not one that cannot be replicated. This is why immediate, upfront efforts to protect the product from immediate competitive entrants into the market will be critical for success while differentiating aspects of the product are developed.

The first main point I took away from the feedback was that, yet again, I received strong reinforcement that this is a significant problem in our society that has either not been appropriately addressed, or “solutions” to date have not resolved. It is confirmation that the product will have a viable market. The second main point I took away, that was stated at the beginning of this post, was the recommendation for constant education. The comparator was seat belts, and that it took educating the public along with laws and regulation to not only enforce the use of a seat belt and change culture/behavior, but rally support for the safety mechanism. To shift thinking to the point where seat belts are not an option when it comes to driving. Similarly, this product aimed to eliminate smart phone use while driving will require an appropriate level of education and marketing.