Elevator Pitch No 2

Beauty To Go

Reflection:
It was surprising to me how little feedback I received on my first pitch. I appreciated all of positive comments, but I did not receive much critique. One of my peers did say that I probably should include the specific services and our prices, so that was helpful. But other than that, I didn't have much to change. I felt that the critique that I did get was useful and important, so I am glad that I got it. I also noticed that the guys were the ones that didn't provide much or any critique because they noticed they were not in my "target audience." I adjusted this to expand our customer base and so men will more likely provide feedback.
What did I change?
First and foremost, I realized that men would benefit from this idea as well, so I included them in my target audience this time around. I also included Beauty To Go's specific services and how our prices will not be affected because we are mobile.

Week 6 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 
 I was surprised to learn that suppliers have bargaining power when it comes to competition. This may be because I have no knowledge in this area, but it was surprising to me and stuck out in the reading.
2) Identify at least one part of the reading that was confusing to you.
 The differences in industry profitability was a difficult concept for me to understand. I didn't quite get the range of capital. It could go into the negatives or be up to 50%. I still don't really get this. 

3) If you were able to ask two questions to the author, what would you ask? Why?
 Can these five forces be generalized to encompass all businesses? How do you eliminate your competitors through mergers and acquisitions specifically?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I felt that the author was very knowledgeable and knew what he was talking about. I personally don't really know anything about industry, so I don't really have anything to disagree with. It was a very informative article and has given me much insight into this sector of business. 

Interviewing Customers No. 1

1) Describe your interviewing strategy. What questions do you intend on asking? Who are you going to ask? And so on.
I intend on asking more open ended questions. A couple I plan to ask are: What do you think a mobile salon needs? Do you think a mobile salon is a good idea? What are some weaknesses that you think the business has? Those are just a couple of the ones I want to ask. I plan on interviewing three people for each gender of varying ages. Preferably young, middle aged, and elderly. That way I get a well rounded sample and everyone's opinions. 
2) Conduct the interviews. As always, 5 interviews, video recorded. 
3) Reflect on what you learned. What did you learn from the interviews? What surprised you the most? What do you expect to change as an outcome of these interviews?
I learned that getting customer feedback is actually really helpful for up and coming businesses. It really gives you a great outlook on how well your company can potentially be, as well as give you lots of helpful information to make it the best that it can be. It surprised me how many people actually liked my business idea. I thought a lot of people would think it was pointless or something, but I got a lot of positive feedback on the idea. So that's awesome. Makes me believe even more that it could be very successful. I definitely plan on changing my target audience from just women to both women and men. It was very popular with the men, so now I know that I can expand my concept to encompass more people. I also plan to add facial hair trimming and styling for the men because they all said that they would like to have that included. 

Idea Napkin No. 1

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
I am a 20 year old female. I get my nails and hair done religiously. I'm not personally good at doing hair and nails- that's why I go to the salon. But I do know how much of a hassle it is to always make sure I have time to make it to the salon and a way to get there. That's why I think the mobile salon would be a great idea. As a Nursing major, I don't plan on being one of the stylist for my business since I have no expertise in the beauty field. But I would oversee all of the everyday operations and continually expanding the business. I see it spreading and going to many different states. It would be more of a side business for me, not taking up a lot of my time, as I plan on being a full time nurse practitioner.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 
The service Beauty To Go would be providing are a range of beauty needs that come to you. Some of the beauty needs would be hairdressing, nails, professional makeup, waxing, and many more. Instead of the customers having to drive to the salon, we would come to them in our fully equipped vans. This is going to be very convenient for mothers, students without transportation, and the elderly. All they have to do is schedule an appointment and we'll be there!
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
We are offering our services to everyone- men and women! But our target audience will be mothers, students, and the elderly. All have a hard time getting to the salon. Students and the elderly usually don't have transportation, so the mobile salon will be very convenient for them. Mothers have a lot on their plates and it is a hassle to bring children into a salon, especially young children. So the mobile salon will be convenient for them because their children will be comfortable and entertained at home. 
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 
Beauty To Go would be incredibly convenient for all and that's why I think they will care. People will pay to have services be brought to them. That's why food deliveries, online shopping, and grocery deliveries are so profitable. Beauty needs are important to everyone and sometimes we just don't have enough time to go to the mall and get our nails done or go across town to see our hair stylist. My business will eradicate so many hassles and struggles when it comes to beauty care. I think it is a great innovation that many people, especially women, will appreciate. 
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 
I am a woman, so I know what women want. I know all of the little details that will draw women in. Wine will set us apart from other salons. We will always be fully equipped with wine for all of our appointments. And who doesn't love some wine and gossip while getting their nails and hair done? We will also have top notch stylists and artists that other salons won't have. Not to mention, we're coming to your house. What's better than that?

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 
I think that all five elements fit together really well. I also believe that my business plan is really strong and has the possibility to be very successful. The only aspect that I think is a little weak is what sets us apart from everyone else and what do we have that nobody else does. I'm still contemplating on what those aspects could be while keeping our services affordable. I think the wine and awesome stylists are great for what sets us apart, but I do think they are a little weak. We need something more to really set us apart. I'm working on figuring that out.

Interviewing Customers No 2

1. Fine tune your opportunity. At first, I viewed by opportunity for a mobile salon to be only for women, but after the interviews, I think that it would also be great for me. A lot of mean love to get pedicures, they needs haircuts too, etc. So I need to widen my horizons. 
2.  Fine tune the "who." I just chose random people that were walking by to interview, but I realized I now needed to fine tune that. I interviewed one person from every target group- men and women of all different ages.
3. Tweaking your interview questions. Before, I just let the interviewees say whatever they wanted, without actually asking any main questions. This time, I had specific questions for what they would like the see and if they would like some ideas I have. And this way a got a lot more of open ended answers because I was asking more questions. 
4. Go talk to customers!
5. Tell us what you learned about the opportunity. After interviewing everyone, I think that the idea is stronger than I thought before. I got nothing but positive feedback from everyone. The idea of the salon coming to you is better than ever.
6. Tell us what you learned about interviewing customers. My three tips would be: be personal with the customers instead of being really formal and you will get better answers; have a long list of questions ready to ask so you're ready to get a full interview; and make sure you're interviewing your target audience for your opportunity. 

Week 5 Reading Reflection

1. It was really surprising to me that a lot of start up businesses don't have a straight forward objective/service. I thought that every business had to have a certain mission and specific criteria that they want to fulfill, but that is not the case. As I saw in this chapter, a lot of businesses figure that out as they go.
2. All of the different risks in starting a business was confusing for me. It makes me wonder how it is even possible for anyone to start a business with all of the many risks listed. The long list was confusing and some seemed mundane.
3. How do you know what exactly caused the downfall of a business with all of the associated risks? What is the hardest part of starting a business?
4. I disagreed on what the author had to say about product design.

Elevator Pitch No 1

Beauty To Go -- The Mobile Salon For You!

How convenient would it be to have the beauty salon come to you? I saw an opportunity for a mobile salon in Gainesville. My solution is this: Beauty To Go is proposing a mobile salon. Including hairdressing, nails, and makeup. It would essentially be a work van fully equipped for all house calls. Beauty To Go will save you to expense of a lease, gives the luxury of deciding when and where you want to work, you are able to go where the market is, and you’re giving customer’s all of their beauty needs in the comfort of their own homes. It’s perfect for mothers who don’t want the stress of taking their children to the salon with them, college students who don’t have vehicles or any transportation, and the elderly.