Week 8 Reading Reflection

Week 8 Reading Reflection

1.     I was very surprised about the part on commercial banks because I did not fully understand how they operate today.

2.     The different types of angel investors really confused me.

3.     If I could ask the author 2 questions they would be, “What is your view on the venture capitalist and how he thinks the behaviors can be improved?” and “What do you believe is better between long-term debt and equity financing?”

4.     I don’t think the author was wrong about anything in this chapter.

Half-Way Reaction

1.     I have developed behaviors such as organizing my work, people skills when interviewing as well as dedicating enough time to my work.

2.     During some of the exercises I felt like giving up when interviewing customers when some would not cooperate. I kept going knowing that some would eventually be helpful and it would be very beneficial. I do feel like I developed a tenacious attitude over the last 2 months because of this.

3.     Three tips would be:

1.     Stay positive even when others corporate.

2.     Keep going even when you think you failed.

3.     Dedicate enough time incase things do not go as planned.

The Twenty Percent

 I decided to talk to the local entrepreneur who started a company called Writefully Yours. Writefully Yours is an invitation and stationary company. She asked that I didn’t record her, but the transcript is below.

Me: Who are your target customers, the 20%?

Wendy: My target customers are individuals who are looking for personalized stationary or invitations for upcoming events.

Me: What are your methods to bring in new customers?

Wendy: Most of my customers are accumulated from word of mouth, but I also advertise in local newsletters.

Me: Specifically, who your customers demographically?

Wendy: The majority of my customers are women, brides, bat mitzvah girls or families.

Me: What are your customers' problems?

Wendy: My customers mostly need to announce their upcoming event so they need invitations or they need personalized stationary for communication purposes.

Me: On a scale from 1-10 how big do you believe this problem is for your customers?

Wendy: I think its around a 7 for my customers.

Me: Do your customers typically allocate a budget to fix this problem?

Wendy: Yes, some of my customer’s budgets are larger especially brides and bat mitzvah families.  

2. When I went out and targeted 3 customers. Here are the recordings:

 Jamie- Bat Mitzvah Mother 

https://drive.google.com/open?id=0B7YgzW33ZPKZQjFIYWpOdnpxN1E

2.     Dominque- Bride

      https://drive.google.com/open?id=0B7YgzW33ZPKZNUNBTVJheHdxNnc

3.     Jessica- Camper

https://drive.google.com/open?id=0B7YgzW33ZPKZQjFIYWpOdnpxN1E

3. After interviewing both the entrepreneur and the customers, I found out the entrepreneur really takes pride in her business. I found that she understands what her customers need and has adapted her business around them. I think she fully understands any problems that they I believe that the entrepreneur adequately understands her customers' problems and knows how to fix them correctly and efficiently.