Venture Concept No.1

DON Enterprises

Opportunity:

   

DON Enterprises has noticed a need among current washer dryer owners, as well as potential first time owners of washers and dryers. These consumers need a more efficient way of having washed and dried clothes, without the current amount of effort laundry takes. The standard home or residence generally has a washer and a separate dryer from the washer, causing a transferring of clothes between cycles. The technology that once was present yielded only a way to have a separate washer and dryer, and people became accustomed to this norm, however better technology now exists. The market encompasses all areas in the United States and the rest of the world that already has the washer and dryer as a standard in homes, apartments, and large scale facilities, including all demographics and range of people. Customers currently satisfy the inefficient method by transporting clothes from washer and dryer between cycles, however our company feels that if customers were more aware of our services and product they would not be so loyal to the process. The opportunity present is huge and extremely lucrative. “The early bird gets the worm” is a cliché that is well suited for this situation as no other companies or stores have made the majority of the consumer base aware of the 2 in 1 washer dryer. The opportunity at hand is something my company wants to act fast on, as time goes on, the risk of not being first to consumers with our plan will take a large chunk of revenues away from us and into the hands of others.

Innovation:

In no way is our company trying to portray to consumers that we invented the already existing 2 in 1 washer dryer. Our company is capitalizing on the under-usage of this wonderful device by educating and helping consumers with the switch. Our company comes to homes and places of business, and determines one of two things; do you already have a washer and dryer system? Or are you a first time owner? Both options receive the utmost care from our company, as we want the consumers to spend less time on laundry and more time on the things that actually matter to them. If the consumer has a preexisting system(s), we will come to their residence or business, educate them on the new system and services and remove the old system. Now, both types of consumers receive the same service, we deliver, install, and maintain the system 24 hours 7 days a week.  Our service for both types of consumers will cost $3000. We can make this possible by crediting the old system we retain towards the removal and transportation.

Venture Concept:

Our companies services will solve the opportunity at hand for two reasons; the more efficient 2 in 1 washer dryer will remove the need to transport clothes, and our companies marketing of this under used product will make a large amount of unaware consumers discover the wonderful invention. Customers will most definitely switch to our services and product, very easily I might add as well. The offering of efficiency we give to customers is irreplaceable in their day for more valued ventures. Not only will the efficiency of the new system make them want to switch, our company, rooted in customer service, will make customers not need to lift a finger other than dialing our number. Soon enough with new technology the phone call will be effortless too! We will also give old systems to the less fortunate, further emphasizing the reason for customers to use our company, while also helping out others in need. Our company is in the extremely rare position of having virtually zero competition, the closest thing being a customer making themselves aware of the system, purchasing from a store, and maintaining the new system themselves. Yes this could be done by customers, however our no effort process with reasonable pricing, as well as the nature of stores to push two separated systems on customers, give us the advantage. Packaging, price points, distribution, customer support, and the customer experience are the absolute most important aspects of our business. The third reason our customers will choose us is our customer first mindset and continually growing business, as we grow and become larger the services and customer service will increase and become more efficient. We plan to make our company culture all about the customer, because at the end of the day, that’s who gives money to us. Aside from administration and myself, our company has a very important structure of business and jobs. Our maintenance men will be on call 24 hours a day 7 days a week, again to put the customer first, while also making money with inconvenience fees (10pm-6am.) We will have, likewise, a 24 hour 7 days a week call staff to receive customer complaints and issues and handle them with the utmost care and sincerity, as if it was the employee’s own system. Finally, our delivery and installation staff, which must look at each consumer case by case in order to assure the best service for each individual customer.

      1.     Our secret sauce, as stated above, is the basis of our company in customer service and making them always happy. This is irreplaceable as it boosts world of mouth and company image, as well as retains a strong customer base.

      2.     The next innovation for our company is inventing an automated clothes folder to go inside of our machines, in order to further make the process effortless and customers happier. Our goal is to have customers make a one time stop to their system with dirty clothes and a one time pick up of washed, dried, and folded clothes ready for storage or to wear immediately.

      3.     Should this company actually launch I see me and the company going very far and being very successful. I would work tirelessly day in and day out to create the best possible service and efficiency, resulting in 5 years to be the premier name in laundry services. I would love to create businesses that thrive, sell, and move to another issue in society and I think this business will help me do that  

Amazon Whisperer

Revenue Drivers:

• Purchase of service (removal, delivery, and installation)
• Late Night/Early Morning Maintenance Fee (10pm-6am)
• Philanthropic image

What's Next and Improvements:
I think the next big thing is an integrated clothes folding system in the washer dryer. This would make the process dropping in dirty clothes and picking up washed, dried, and folded clothes, allowing the consumer to not lift a finger.

Amazon Product and Improvements:
The closest thing I could find is

This is a manual folder, however I feel it could be easily modified to be automated. People really like this manual folding product, as it is quick and produces the same result every time. Automating the product and integrating the product into the washer dryer would only increase the benefits of the consumer and therefore increase the amount of purchases of our systems. Even without the washer dryer updating this folder to be automated would be a good idea in general, and produce a lot of sales.

Your Venture's Unfair Advantage

1. Base in customer service oriented culture
2. My determination
3. Efficiency of 2 in 1 washer dryer
4. Philanthropic image of company
5. "Customer doesn't lift a finger" model
6. Credit system for old washer and dryers
7. Social media tools and modern technology
8. 24/7 Maintenance for systems
9. Vacancy of the 2 in 1 washer dryer market
10. My imagination

V

1.      Keeps customers returning and makes process smooth

2.      Never stop until perfection is reached

3.      Makes customer want to buy product due to quicker process

4.      Makes company a morally beneficial purchase and helps mankind

5.      Makes transition and purchase easy and efficient

6.      Again helps customers in transition to new model while keeping profits for the company

7.      Allows company to reach all customers and respond quickly

8.      Always keeps systems working and customers happy

9.      We will be only company like us in the market

10.   Furthers the company and ideas always and extensively

R (1-10 (rarest) Scale)

1.     5

2.     10

3.     10

4.     5

5.     6

6.     7

7.     1

8.     10

9.     8

10. 10

 I (1-10 Scale, 1 being easiest to imitate)

1.     1

2.     10

3.     7

4.     8

5.     3

6.     2

7.     1

8.     9

9.     10

10. 10

N (1-10 Scale, 1 is very substitutable)

1.     10

2.     1

3.     5

4.     4

5.     8

6.     7

7.     1

8.     10

9.     10

10. 1

    Based on my ranking system, 24/7 Maintenance and vacancy of the 2 in 1 washer dryer market are the most valuable aspects of my company. I have to agree as they are what stands out most being very rare and original even in today's world.

Week 10 Reading Reflection

1. What I liked most about this weeks reading was the extensive step by step detail the author went through for the various business processes. Since I took many classes like financial accounting, managerial accounting, marketing, and management, this helped further enforce my knowledge of the business world.

2. As I said before I took the various business classes including the two accounting classes so not much confused me. Most of it was a nice review and remainder of the various things I had already learned.

3. One question I have is how do small business begin to transition in the accounting world once business begins to pick up and how can businesses negatively approach this situation.

4.  I agree with everything said in the readings. It matched with my notes from the various classes and I found nothing wrong the author said.

Grow Your Social Capital

My first person is Bret Dameron, who is the manager of the Lowe's here in Gainesville. He's from the North Butler store and from Alachua County. For me, Bret is filling the domain expert role as managing a Lowe's yields a lot of experience with washer and dryers as well as delivery. I found the person online and called the number listed. I introduced myself and gave a combination of the elevator pitch and idea napkin. He really liked my enthusiasm, and said that should this company start bulk orders would receive discount, however in return Lowe's would have to get the old system. Having this person in my network is very important as having someone who knows bulk ordering and service industries like delivering and installing machines.

My second person is Thomas J. Lamb, who is the Marketing and Advertising Senior Vice President of Lowe's. He will be taking the role of market expert for my network. Being the position he is in Lowe's executive board, Thomas J. Lamb knows the market and demand for washer and dryers better than anyone. I found his email and emailed him my business idea, however he has not answered. He would be crucial as Thomas knows the market for washer and dryers across America.

My final person is John H. Riddle, who is the Senior Vice President of Sales of Home Appliances for LG, a maker of the 2 in 1 washer dryer. Being the Vice President of Sales of Home Appliances John Riddle will know the cost and factors of operation for the machine. I found his email and sent him my business plan. His secretary responded saying that a meeting with Mr. Riddle could be set up if my business became more formal and concrete. He would be important to have the large supply of 2 in 1s needed for the heavy demand we think will ensue.

This exercise made me change my fear of emailing people I do not know and being forward even to the high up executives in the corporate world. The emails made me feel less intimidated about presenting an idea to powerful people in cooperate America, albeit was over email.

Elevator Pitch No 3

Hi, I'm Donovan Vazquez, with DON Enterprises. We've seen a huge need for washed and dried clothes, while not having to move the clothes from the washer to the dryer. Our company picks up old systems, applies them as a credit towards the newer more beneficial system, delivers, and installs the system to your location. I realized my last pitch,  The company is an original full-service idea utilizing the lack of use in the amazing 2 in 1 invention. This weeks feedback was also crucial in helping me add the idea that the old systems could be used as charity to the needy. The minute dollars we lose from resale of the old systems, is incomparable to the money gained by the positive image these humanitarian efforts will yield, as well as the betterment of other's lives. Thank you for watching!

Week 9 Reading Reflection

1. Being a marketing major, I feel I know many of the various aspects in the marketing world. However, the marketing section of the reading really surprised me as there were many more aspects that go into marketing and knowing customers than I originally thought.  

2. The confusing part of this reading was how there was not many specific variables and more general categories for targeting customers, in today's world I feel that there should be many specific categories. 

3. What marketing strategy is the overall best for maximizing profits? 

What marketing aspects do you feel can be improved in today's society?

4. I agreed with much of what the author said and I do not feel like the author was wrong about anything, however the opinions given or things that aren't fact may be disagreed by some people.

Secret Sauce

Donovan's Sauce
1. Captivate a room
When I walk into a room due to my height, and loud deep voice I am able to captivate and control a room and the conversation that is going on. I also can talk about many subjects for a while and enjoy talking.
2. Bright side
I am very much an optimist. Even though I am realistic, I always strive for a more positive outcome and try to see the best in everything.
3. Easily motivated
Ever since I was little, regardless of the task at hand, I am going to have fun and work hard. I am easily pushed to complete a task just by the sheer joy I get of completing something successfully.
4. Life Experience
I am happy now to say that I attend the University of Florida, however most of my life I did not think I was going to college. The area in Miami that I am from has many people who begin work after high school or don't even graduate. Neither of my parents went to college, and being born in an area with many bad influences separates me from many people in my hometown. Likewise, the area I grew up in and the experiences I received from it, makes me different from some people at the university
5.Well rounded
In college, many people focus on solely their major, and while a major is very important, I believe in being well rounded. I always try to take out of major and interesting classes, as well as better my already existing diverse set of skills.

Interviews:
Veronica
Veronica's interview seemed to agree with many of my five points. Something she added that I did not feel made me so different, was my kindness and politeness.
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Kyle
Kyle's interview was really offbeat with what I thought made me different. He focused more on the specific factors of speech and intellect that separate me.
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Zach
Zach, much like Veronica also hit on many of the points I felt made me different from everyone else. He also added in that I do well with criticism and "uses it as fuel."
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Freddie
Freddie felt as though my upbringing and success of getting into UF really was the main factor in what made me so different. He explained he feels it's more prevalent for kids with college educated parents and that reside in areas with less bad influences go to college.
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Jordan
Jordan thought that my love for both athletics and academics sets me apart. I like to attribute this to my love for being well rounded and  good at many things.
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I think most of my list was pretty spot on. I would maybe switch well rounded to being higher and captivating a room lower. The various aspects of my personality that I feel make me different and that I excel at, were the driving factor for my list and is something I constantly think about, so I don't think I would change much else.

Idea Napkin No. 2

1. I am Donovan Vazquez the Chief Executive Officer of DON Enterprise. I am a motivated worker, who always looks to lead teammates while also being a team player and listening to my peers. My entire life I’ve worked miscellaneous jobs like waiter or valet, these jobs gave me insight to different business models and also taught me the value of hard work. My business is a new 2 in 1 washer and dryer that we look to make a standard in modern homes. I see this business, should it start, collecting every ounce of my focus and every drop of sweat. I would like to see the 2-1 washer and dryers become a standard in homes that already have both.

2. The 2 in 1 washer dryer is a product that already exists. However, we feel that this wonderful invention is underutilized in today's world. Our business offers a two fold plan, the first of which is the education, sale, delivery, and installation of the 2 in 1 system, the second tier of the plan is the retrieval and crediting of the old system towards the new system.


3. The product can be offered to a numerous amount of customers. If an industrial sized 2 in 1 washer and dryer is created the market can open up to large scale washing facilities and businesses that need the larger system. We also would target customers with existing separate systems, as our business plan best suits this group. Our company will also sell the systems to new buyers, who have no washer and dryer.


4. Customers will pay money for two reasons. The company would be rooted in customer service and the ease of working with the company will make customers more inclined to buy. The second reason is the main 2 fold business model allows for optimal revenue while also aiding customers in the transfer to our newer more efficient system. The hassle of having to switch clothes between cycles, and time your daily activities around the switch is no more. The 2 in 1 system allows for one drop-off of dirty clothes and one simple pickup of your washed and dried garments.


5. Our superior marketing of the better 2 for 1 washer dryer system, as well as tremendous customer service that will aid the process in transitioning to the more efficient 2 in 1 system, will separate us from every other laundry method in the market.




I think the elements I have fit well together. The existing model is a recipe for success and the target markets are well planned and easily attainable. I really think this company can make the conventional methods of getting a washer or dryer, and buying separate systems obsolete. One thing I would like to work on is bettering ways to reach out to the customers and homeowners that other companies do not use. With hard work and focus, this business plan will be very successful, while also helping the worlds simple tasks become simpler.


The feedback I received was very crucial to updating my idea napkin to make it better. First off, most of my feedback was positive and approving of my original napkin, thus I kept the same structure and certain parts of the napkin. Many people in the feedback were curious as to how my business differs from the existing 2 in 1 system. My business "pushes" this system and eases the transition of this wonderful invention. Establishing the marketing prominence of the company was important to further separate the company from just the existing system.