Exit Strategy

My Exit Strategy

     With the venture and entrepreneurial pursuits I have made with my innovation this far, I ultimately believe that my strategy will not to exit at all, but to operate and effectively sustain a company that works towards developing new devices and technologies to benefit humanity and the planet. I intend to keep my pursuits long and to last well over a decade, instead of selling my accomplishments in the pursue of monetary gain. I find more value in the benefit for humanity than the success of an individual.

     If all is accomplished correctly, and the venture takes off; I would certainly like to pass it down to my family and give them the opportunity to pursue even more opportunities in the future as environmental efforts and planet sustainability will only become a bigger concern. There will be more exciting advancements in technology, which would allow Geolink to evolve with the innovations of the future.

    I am absolutely content with this exit strategy because I believe that it is rewarding and purposeful. My goals are clear and vividly detailed so that I can follow the correct steps to a successful venture. I have hopes that my first product will get my foot in the door and aid global safety sooner rather than later.

This strategy seems consistent with the ideologies and tendencies that I have exhibited in my past works. I have a strong desire to make a meaningful impact entirely for the gain of the planet, so that humanity can have a renaissance in global health and equality.

Venture Concept No.2

GEOLINK Venture Concept by Alex Arnau

   Geolink is my innovation and it will serve a purposeful function to society by being a new emergency/safety wearable device that will save and connect people all over the world. 

    

   Wearable technology is the future of the accessory and clothing industry. Due to the fact that my innovation will be cost-effective, energy-efficient, and stylish; my innovation has the potential to be as ubiquitous on people's wrists as rubber bands, hair ties, and various types of wristwear that will be outdated in the near future. 

   My prospective competitors would most likely be FitBit and perhaps even LifeAlert. I aim to differentiate myself from my competitors by offering a more cost friendly device than FitBit and by being more stylish and mass appealing than LifeAlert. 

   I would like to organize an entire organization with various products and solutions to energy systems and pursue better interactions between humans and the Earth. It will be mass appealing to populations of people who are highly concerned and involved with the state of the planet. 

   Critical factors for aiding the success of my venture would definitely be related with packaging, price, branding, and location. My packaging should be just as eco-friendly as my company and I will aim to use recycled and low-waste packaging. My price should be globally feasible to various socioeconomic classes, I would like to have one extremely low cost design, and one that is a little more advanced. Branding should be stylish and popularly appealing. Lastly, my location should be in a position that has a strong population base that supports eco-friendly movements and where environmental disasters exist; so California, Washington, New York, and Colorado would be better locations to work in instead of Arkansas or New Jersey. 

   
   Feedback that I have received on my venture concept in prior projects have given me increased momentum and desire to pursue positive missions that benefit people on a global scale. 

   

Reading Reflection No.3

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, Ashlee Vance

  Due to the exciting news that Elon Musk and his company SpaceX successfully launched a rocket in to orbit this week; I was exceptionally curious to read the biography on him from the first section of the ENT3003 reading list. The biography was definitely well written, and had a variety of anecdotes and interesting information about Elon Musk from dozens of people close with him. Elon Musk is an entrepreneur, innovator, and one of the most influencing philanthropist thus far in the twenty first century.

What surprised you the most?

- I was most surprised with Musk's fierce determination with staying focused on his work during very complicated and high stress situations. There was mention in the book that Musk would sleep on a beanbag next to his desk in his 20x30ft office in Palo Alto.

 What about the entrepreneur did you most admire?

- The traits that I learned about Elon Musk that I find most admirable is his ingenuity and ability to identify opportunities that exist in the future.

What about the entrepreneur did you least admire?

- The traits that I learned about Elon Musk that I find least admirable is the way he sometimes treats his employees. This was just based on hear-say, but apparently he demands a lot from his employees and would easily eliminate them if they failed to adhere to work properly. I could understand this with his fiery determination.

 Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

-   There were account in the biography that detailed how Elon Musk was hours away from bankruptcy with Tesla Motors, and during those stressful hours, managed to make a deal with NASA in the pursuit of SpaceX that allowed him to make over a billion dollars, and save himself from failure. 

What competencies did you notice that the entrepreneur exhibited? 

- Consistent competencies that I learned about Elon Musk besides his determination and innovative thinking, was his desire to learn how to do things himself; instead of relying on other people's works. 

Identify at least one part of the reading that was confusing to you.

- The only part of the reading that was partially confusing was the descriptions on Elon's social personality because the biography gave both positives and negatives; sometimes contradicting itself. 

If you were able to ask two questions to the entrepreneur, what would you ask? Why?

- If I had the opportunity to as Elon Musk two questions I would first ask him what advice does he have for someone to make a meaningful impact in a society that seems to have too much of everything, because it is a theoretical concern of mine. I would secondly ask him what does he plan to do with potential colonization of our own moon. 

What do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

- I would presume that Elon Musk's opinion of hard work would be tireless relentlessness, and also a determination to stay on top of societal trends, and exploit these trends. 

Celebrating Failure

      Innovation is a special topic because it is in some sense, a way to exploit unmet opportunity. Discovering an opportunity that may not quite yet exist is bound to come with flops and failures. There are many ways to frame a failure. The road to success is usually done over a long period of time and typically through smaller achievements. By accepting and analyzing failure, the failed can prevent themselves from ever failing again. 

      My experience with a failure this past semester was by missing the opportunity towards a potential job. With my mother's experience and connections with showtimes and productions in large venues, I was given an expedited opportunity to secure a job with a production company here in Gainesville that works on large projects for places like the Reitz Union, Phillips Center, and Hippodrome Theater. It seemed like a good opportunity with plenty of room for growth in the company; however I was not too initially attracted to the advertised salary, and therefore I did not make it a priority. Due to my lack of professionalism in the matter, I did not adhere to meet proper deadlines for a potential interview, and I was then put on employee waiting list. I decided that my failure to take this opportunity was the best decision for me, and I would like to focus my pursuits toward other types of work.

       Since my initial failure, I continued my search for jobs and started to look for careers that were more related to my long-term goals. In my quest, I have received more interest from other companies, and I feel that I am close to securing a job with a company that I am very excited to work for. 

What's Next

Geolink by Alex Arnau

Existing Market:

      The next step to consider in growing my product in an existing market would be to make the product visually appealing while maintaining functionality and cost margins. Based on the feedback I have received in interviews from potential customers, I have learned that they were initially curious on how the prices will stack up in a retail market. This is a factor, I have been highly considering and I have proposed to keep production costs at a minimum with a focus on maintaining functionality, longevity, and reliability. Another interviewee had the same concern as me with keeping up with design and style trends when focusing on the product.

      My future plans for my venture will be to make the device effective, eye-catching, and efficient. I would like to keep the bulk and technological aspects of the device to be relatively minimal and hidden from the device so it is not just another block and screen on a wrist.

     

     Further Development and growth for my venture will be with involvement and cooperation with non-profit organization, environmental movement groups, and health/safety bureaucracies.    

New Market:

       Implementing my product into a new market, would require me to seek into the approach of using my product as a medical device. In the case of presenting my product as a medical device, I would prefer to make minimum profit if that was the case, and I would proceed to make my device part of a non-profit organization for underdeveloped people in poverty. As I interviewed new people, they have shared with me similar feedback, and that is the recommendation that I need to approach my product with a altruistic and sensible purpose if it is going there is going to be future development that isn't seeking profit.

       With the new knowledge I have gained by seeking information from an outside market, I have learned that there is many competing innovations coming out for medical devices, as it is a very growing and demanding field. 

       I am going to have to keep my device unique and differentiable from other competing devices on the market. This can be done by donating profits to a greater cause, and marketing based on the positivity of my product's purpose. This tactic would be similar to how Toms shoes company donates a pair for every pair bought of their shoes. 

Venture Concept No.1

GEOLINK by Alex Arnau

      My entrepreneurial venture for ENT3003 is a unique innovation called, Geolink. Geolink is a wearable technology that is ran entirely on sustainable and renewable resources. Through my brainstorming and product development, I have proposed two designs for my Geolink wearable technology. The first and original prototype is designed to serve as an emergency communication device that will be reliable and functional during natural disasters and other catastrophic situations. The device will be solar-powered made and made from sustainable resource. It will use simple communication protocols and would be reliable when traditional communication networks are down. One major component of this device would be the fact that the minimal design would allow and compel me to sell the product at a price far below the price for competing wearable technologies. This reason is to engage market activity in developing and developed countries in a variety of social classes. Due to the fact that there is a variety of natural disasters occurring at unpredictable moments around the globe, this product has the potential to be demanded by many individuals and families.

Your Venture's Unfair Advantage

My Venture's 10 Resources:
     
- Educational Background:

        My knowledge, credentials, and educational accomplishments prove that I am indeed trained and capable to work in my prospective field.

Value	Rarity	Inimitable	Non-Substitutable
High	High	No	Yes

- Social Personnel:

        The resources that I have acquired from my entrepreneurial pursuits and connections with important "players" and organizations within my market.

Value	Rarity	Inimitable	Non-Substitutable
High	High	Yes	Yes

- Educational Personnel

        The connections made with highly regarded people with advanced educational background. Can help further sustainable development and efficient research.

Value	Rarity	Inimitable	Non-Substitutable
High	Med	Yes	Yes

- Safety Advancements

        Maintaining strong functionality and deign to ensure reliability and access when needed.

Value	Rarity	Inimitable	Non-Substitutable
High	Med	Yes	Yes

- Financial Knowledge
     
        Making use of successful money management and allocation of wealth and resources.

Value	Rarity	Inimitable	Non-Substitutable
High	Med	Yes	Yes

- Media and Marketing Knowledge

      Understanding of mass-marketing and targeting of media phenomenons. 

Value	Rarity	Inimitable	Non-Substitutable
Med	Low	Yes	No

- Spatial, demographic, and geological knowledge

     Understanding how location, demographics, and resources apply to the use and marketing of my venture

Value	Rarity	Inimitable	Non-Substitutable
High	Med	Yes	Yes

- Innovative mindset

      Ability and vision to seek new designs and innovations to improve the state of the product.

Value	Rarity	Inimitable	Non-Substitutable
High	Med	Yes	Yes

- Technological Knowledge

     Awareness and capabilities of navigating the technological landscape and ensuring technological growth.

Value	Rarity	Inimitable	Non-Substitutable
Med	Med	Yes	No

- Job/Volunteering Experience

     Earned wisdom and discipline from working physically demanding environmental jobs.

Value	Rarity	Inimitable	Non-Substitutable
Med	Med	Yes	No

 My most valuable resource would be my educational background. This is because my educational pursuits prove credibility and reliability in my work and all future ventures.