nick’s blog

The problem is that people are not recycling properly. Instead of recycling people just through those items in the trash because it is convenient. Businesses and corporations are also not recycling properly. Between these two they have amassed a large build up of plastic. Our solution is to make hoes out of recycled materials. Our company wants to help in any way we can to make the plastic situation better. We will be using all recycled and organic materials when creating our shoes. This should help fix the large problem that is the build up of plastic particularly in oceans.

I am the financial person for my group. Right now I am discussing with my group what the product and the advertising are going to cost. I have not gathered much information from them however and I intend on getting most of it today or next week.  I will discuss with the advertising person on what he wants to do and how he wants to get out podcast out there then I will find out how much that will cost. With product development I will ask them how much our own company I doing and what exactly we will need to put the product on the market. Overall my job is to manage and figure out the finances of the group.

This week our group has been doing research on some of our competitors. We have looked into the workings and operations of the companies that we will compete with. We have learned things like what they sell for and what they do to advertise. We have also analyzed what they do in terms of manufacturing and how they get their product out there. I think it is good to compare and analyze what other companies do so we can learn what is a success and what is not. I also think that the business model was a good way to do that. Overall learning about our competitors will help us grow as a business

MVP is minimal viable product. It is the product with the least features to be put out into the market. Its similar to a test because it sees what the market will think of your idea. It is done without putting in all the work for the final product.  This is to make sure that you dont waste valuable time and resources on the final product that may or may not work. The minimal viable product is a great way to infer how an idea might do in the market. Overall MVP is a strategy that works to help an entrepreneur when making a product.

Lately we have been getting close with other groups. We have been needing to get more blogs done but haven’t been making them. However we have bad some more pressing activities like the MVP activity but these aren’t enough. We need to have blogs done everyday hopefully. That should be able to help us secure a place above other groups. This means we need to do the activities fast and make sure they are right. To do this is our entire group needs to cooperate and get the projects done. Then after we can all make a blog or two. Overall i think our group needs to rethink how we operate so that we can do our best.

Lately there have been a multitude of group projects that we have been completing so I think it would be important to talk about group projects. In group projects we are pretty ok at sharing  the work and dividing it up between each group member. Sometimes we end up getting distracted however we can still get our assignments done. With group projects come conflicting ideas however we are able to handle these problems civilly. We also try to get our projects done as soon as possible so that we can do blogs and make moe money. Overall group projects have been an important component of our work.

This proposal assignment has been putting our team to work. We have all collaborated on this assignment and his been good towards our team  working skills. It has really made us think more deeply on our idea. The planning document has also helped us ask some important questions about our business. Like thinking about who our customers would be and how we would orchestrate different parts of the business. However I also thought more about the risks. This idea could be terrible and people might not want to buy the product. Overall this activity has made our group think more in depth about our business.

One customer group would be regular ordinary people. These people could be a group by buying products from business. They buy what a company is selling whether it is clothes ,toys furniture ,etc. In our case it would be buying a product made from recycled plastic. These people might be interested in buying something that is helping our environment. These people who are interested in buying things that help the environment would be a important customer group. These people would be the group to advertise and sell to as they would be the most interested in a potential product. Identifying who is in the group and what to do after that are important as this would be the main customer group.

Investors are important to any business trying to start up. They help businesses get the resources they need to get a great business going. Investors also get something themselves though in exchange for  equity in the company. Without investors it would be difficult to start a business. Shows like the Shark Tank are about investors those people are presented businesses and they can choose to invest in them. Investors usually have faith in the business that they are investing in so that can also be a good sign for the business owner. Overall investors are an important part of starting a business.

The importance of advertising is incomprehensible without it a business couldn’t take off. Advertising brings in new customers and there are many ways to do it. A video ad could be made along with a commercial on TV. There also billboards and poster that could be set up around the area. All these are methods of advertising and all bring in new customers. Another way of advertising that isn’t really made b the company would be word of mouth. If you sell good products or have a good service people will tell others they know this helps grow your business. Overall advertising is important to getting a business out there.