Amazon Whisperer

Current Revenue drivers

·      Luv Fit kit would make most of its profits from consumers including all parents in the U.S.

·      We could also have a contract service for large consumers such as hospitals offering the kit to new moms, event planners, etc…

The Next Thing

I think next we would offer a cloth diaper kit with the same “find the right fit” concept for moms looking to diaper their babies in a more environmental way.

I think it will enhance our product because it will show our brand as a true commitment to finding the right product for diapering babies. We believe that parents should be able to shop for the right size without committing to one brand before knowing what the best fit will be. Clothe diapers are still a large market for parents.

The closest thing I could find on amazon related to my new product offering is a cloth diaper starter kit. This kit only has one size fits all diapers from one maker with no variety.

The reviews for this product are overall good. They believe the cost is good and the diapers are soft. Some stated that these are the most awesome cloth diapers ever. There are currently no complaints for sizing problems under the reviews section of this diaper kit.

My kit would include the same cloth diapers that mothers are looking for except we would have a few different brands and cloths to choose from.

I believe something like this would be a great addition to our product because we will be acknowledged as a company that actually cares about the needs for all babies and not just the ones who use disposable diapers.

Week 11 Reading Reflection

1.) The most surprising thing in the reading was the fact that innovators are failing more now than they used to. This was surprising because now we have more technology than we did then and it seems the opposite would be true.
2.) One thing that I did't understand was the whole idea that managers could actually make an innovative path for their innovators to ensure more innovation. Earlier in our book I read that it was a myth to believe that innovation could be made into a process but the author claims that there actually is a "best practice".
3.) One question I would ask the author is: Do you believe that a blanket method could actually yield better results for a company looking for more innovation that works? Also: For those companies that are constantly failing, do you believe a change in innovator instead of policy would be the most beneficial?
4.) I don't think the author said anything wrong in his article.

Week 10 Reading Reflection

1.) The biggest surprise in this weeks reading was the amount of finances that actually goes in to the business planning of a company. I knew accounting was an important part of a running business, but I had no idea just how important it was for a start up.
2.) One thing that was th most confusing for me was the Internal Rate of Return method. It didn't make sense to me even after trying to do the method myself. It seems like a very complicated method and one that I would steer clear of if I ever needed to use something similar.
3.) The one question I would ask is would the author suggest that these internal type financial sheets could be outsourced for faster turn around for an entrepreneur who doesn't have time to sit down and figure this out on his own? Another question is does the author think that before an entrepreneur were to consider a new business this financial stuff needs to be figured out first?
4.) I thought the author was very thorough in this chapter and can't argue with any of these methods.

My Unfair Advantage

Unfair advantage

11.)   Myself

V: I am dedicated to whatever I put my head to and have strong INTJ preferences indicating a CEO mentality

R: I am unique in that I am a stay at home mom with experience in the faultiness of the disposable diaper industry

I: No one can be me

N: Again no one can be me

22.)   Financial Capital

V: I have money to invest into the necessary resources to start this company or at least get it on a roll.

R: The capital is unique in that I already own it and therefor do not need to pay it back or pay interest on it.

I: Having this kind of capital is not common in the start up diaper industry in that most companies will have to pay some of their start up money back in some ways

N: This kind of money is great and even though there are other ways to get it, none of those ways would be as available and unrestrictive as the cash I have now

33.)   Online Community of Moms

V: The group I am apart of online is very valuable because I have access to thousands of mothers who can give me market research for free and without them knowing that their opinion is being used to create a product.

R: Having such unbiased access to opinions from direct demographics in my target groups is very rare.

I: It is impossible to create such a large test group or market.

N: This group is substitutable however, it would take a long time and a lot of resources to come even close to having such a large amount of test subjects!

44.)   Contact with China

V: Because of past entrepreneurial experience I have contacts in China with a manufacturer who could possibly offer resources at reduced cost

R: This is rare in that non many people have established contacts with China manufacturers for the start up phase of a project

I: This resource is imitable since there are others who can contact people in China

N: This resource is substitutable

55.)   Network with Market Gurus

V: Because of prior work done in this class I now have contact with a diaper industry market guru who could really add value to my startup

R: This is rare because many people in the start up idea phase of a project will still need to establish this sort of connection

I: This resource is imitable since one can go out and develop the same kind of connection

N: This resource is substitutable

66.)   Entrepreneurial Connections

V: I have contact with a man who has started three companies and been very successful. This is valuable for a sense of direction in when and how to do things.

R: this is rare because many start ups don’t have someone that close in their pocket who can help them because of their own successes.

I: Even though this source is imitable, I don’t think someone could get the same kind of resource without already having a long time relationship with this resource such as the one I have

N: This resource is substitutable because there are other successful entrepreneurs.

77.)   Ability to Fundraise

V: I have a lot of experience raising money for start ups and I know the different ways to do so. I think this is valuable because I will be able to start raising capital right away with experienced and proven methods.

R: This is rare because many start ups have only just begun their venture and have no prior experience with raising capital

I: I don’t think my skill is inimitable but it will be hard to imitate without prior experience

N: I don’t think this skill is substitutable because you have to do it in order to get enough money to start a business.

88.)   Experience in Business plan development

V: I have developed a business plan for a successful start up and I believe this is a valuable experience in starting my own company

R: This is rare because I will be developing a business plan for a second time unlike others who will have to start this experience without any prior knowledge on how to write a business plan.

I: This resource is definitely imitable

N: This resource is also substitutable

99.)   Direction:

V: I believe this company has already established a sense of direction with a very to the point business idea. This can be valuable in setting a clear path to the end goal.

R: This is rare in that many people in the planning phase will not already have such a strong sense of direction.

I: This is imitable

N: This is substitutable

10.) My Daugher

V: I believe having a child will set me a part because I can market my product from an experienced mothers viewpoint.

R: I don't think this is very rare but common now a days and an advantage for sure

I: This is imitable but many people don't understand how to use this type of company view point to their advantage

N: This is substitutable but and substitute might not work since mothers tend to trust mother owned businesses.

Growing My Social Capital

1.)   Domain Expert

A.)  Who they are:  Carlos Richer is a Diaper Industry Consultant with over 32 years experience in the diaper industry. He is an expert in design, manufacturing, and patents for new diaper projects.

B.)  He is filling slot 1 Domain expert because he is very familiar with this industry and is a technical expert.

C.)   I found him through some research online and connected with him through Linkedin where he very publicly displays his expertise.

D.)  I asked him for advice on what he thinks the best way of going about a start up like the LUV Fit Kit would be. He told me that there are a number of different ways to do this, but the most important thing is to start on my business plan in order to display true will and commitment to this product.

E.)   Mr. Richer has contacts with many suppliers and distributors, plus hes been a consultant in this industry for many decades. I believe he would be able to help me connect with people who are just right for what my product would hope to become.

2.)   Market Expert

A.)  Who they are: Yoav Nir is a diaper industry market guru. He has been involved in the industry for over 25 years and is truly committed to the development and marketing of disposable diapers.

B.)  He is filing slot 2 Market expert. I think he fits this slot because he is specifically someone who helps start ups in the disposable diaper industry by doing consumer research, making marketing decisions, and helping make sure a start up is profitable in the end.

C.)   I found Mr. Nir through my initial contact with Mr. Richer (above). Mr. Nir works with Mr. Richer on new products in order to determine their success in the business. They are not partners, but rather industry experts who use each other to help others.

D.)  I actually called Mr. Nir after getting his direct number from his website. His assistant answered and was able to put me right through. I asked Mr. Nir what his thoughts were on my idea and he said it was very unique and that it could work. His only drawback for my idea was the difficulty of getting approval from largest companies without offering something huge in return.

E.)   I think Mr. Nir could be huge in the developing phase of my product. He has the skill necessary in order to truly be able to enter the market. He knows what to do and what not to do and he is capable of reaching out to people in the industry for extra guidance.

3.)   Important Supplier

A.)  Jake Cleaver is a diaper selling agent who has been involved with his selling agency for over 10 years. He basically finds ways to get products on the shelfs and in to the hands of consumers.

B.)  He is filling slot 3 as a supplier since he sells in the diaper industry. He more middle mans the sells but he is an important person in the dynamics of supplying diapers to consumers.

C.)   I contacted Jake Cleaver through a lot of research online. I was able to come across his company and make direct email contact with Mr. Cleaver.

D.)  I emailed Mr. Cleaver asking what his expertise actually was and whether or not he would be someone I could have contact with if I ever decided to take the small company idea off. He responded that him and his agents do exactly what I need as far as getting our supply on the shelves and that his service is highly beneficial to start-ups.

E.)   This person seems like an expert in the supply cycle and will most likely come into play when the product is complete and ready to be put on shelves.

Reflection: I found this experience was really great for getting involved with some of the industry experts. I think having these contacts could really benefit me if I were to really want to start my own company in the diaper industry. 

Elevator Pitch No. 3

1.)

2.) Reflection on prior feedback:
The only feedback I received was about how I should describe more how my LUV Fit Kit would be better than or more advantageous than competitors. I do think I could describe the benefits of the fit kit over buying single brand boxes, however as far as I know there is no competition that offers the same style of diaper boxes that I would.

3) Based on prior reflection what did I change: I decided to focus a little more on what sets us apart from other diaper companies.