Alien from another Universe-ity

Your assignment is to build a website, a blog or a wiki (your choice) featuring your product or service.  This website will be assessed by your peers and your professor by a 10 point scale.

What did you learn about yourself in the process? What does your product or service tell about you? What does your website or blog tell about you?

During the process of creating a blog for Noir Threads, I learned quite a bit about myself. First of all, I discovered that I am deeply passionate about not just the product, but also the entire concept and ethos behind it. I am drawn to the minimalistic aesthetic and the versatility of black-themed fitness clothing. This passion translated into my writing and the overall layout of the blog. I found myself genuinely excited to share my thoughts, experiences, and knowledge about the product even though I created a fictional “author” Angela Doe, and wrote from her perspective.

The product, Noir Threads, reflects my personal style and values. It is sleek, versatile, and functional – characteristics that I value in both clothing and life in general. The choice of black-themed fitness clothing also signifies my belief in breaking stereotypes. Fitness clothing doesn’t have to be bright and flashy; it can be subtle, and stylish, and still serve its purpose effectively. This is a reflection of my personality as well – I believe in subtlety over showiness and functionality over frills.

What have you learned about your product or service in this unit?  How did you learn it? What went well and what would you want to improve in the future? How did you give and receive feedback? 

In this unit, I’ve learned a lot about my product (which is black-themed clothing and accessories), and I’ve gained insights through various means. For example, here is what I discovered:

– There is a demand for black-themed clothing and accessories. I realized that there’s a market niche that appreciates the elegance and sophistication associated with the color black. I will need to explore trends and consumer preferences more to tailor my product offerings accordingly. I learned it by checking different online stores of famous brands that sell similar products, creating anonymous polls on social media, and reading several articles. For example, in the famous British daily magazine, Evening Standard, the authors mentioned that black is very popular because it is slimming and versatile, and works best to hide sweat (McCarthy, 2020).
– I learned about customer preferences by gathering feedback from potential customers to ensure that my products align with their needs and preferences. As soon as I know Chinese market better than others at the moment, I decided to create a list of questions with open answers and ask my Chinese friends and colleagues to discuss them. In the end, I found out that most of the girls prefer not only comfortable fitness clothes but also the ones that look good. At the same time, males preferred stretchy and comfortable clothes and paid more attention to the fact that they would feel more comfortable if their sweat was not easily seen.

During Unit 5, please submit your job description. Make sure that it has a minimum of 150 words.

As an English teacher specializing in children ages 3 to 15 at More Fun Language School, I play a crucial role in fostering language acquisition and cultural understanding. Over the past three years, I have gained valuable experience teaching English as a foreign language to young learners. Based on my research, I have compiled two job descriptions that closely resemble my current position, incorporating the tasks and knowledge requirements into my own comprehensive job description.

1.Who is considered the pioneer of modern entrepreneurship?

a. Thomas Edison
b. Andrew Carnegie
c. Joseph Schumpeter
d. Adam Smith

2. Which of the following is an uncommon challenge for entrepreneurs?

a. lack of funding
b. competition from established businesses
c. difficulties in finding qualified employees
d. the need to work long hours

Describe your business as a franchise.  Refer to at least three other forms of business ownership by saying why you designed your franchise the way you did. Indicate what factors evident in other forms of ownership you took into account. Make sure that this is clear to your readers. Have at least three paragraphs in your entry. Describe your franchise in the first paragraph, describe how it will function in the second paragraph and invite others to consider it in the third paragraph.

Pose your question trying to attract investors in the fourth paragraph. Make it an attractive choice by marketing your global business and by comparing it to other forms of ownership—show off your knowledge and showcase your product offered in a franchise. Remember, there is a lot of competition out there, so make your ad as attractive as possible in order to elicit interest.

Introducing Noir Threads: A Franchise Opportunity for Fashion Enthusiasts

Imagine owning your very own trendy clothing brand, catering to fashion-forward individuals who appreciate the allure of black-themed fashion. Welcome to Noir Threads, a franchise opportunity designed to empower entrepreneurs and create a community of style enthusiasts.

As a franchise, Noir Threads offers the unique advantage of a proven business model and brand recognition. By leveraging the success of the original Noir Threads store, franchisees can tap into an established customer base and benefit from a well-known brand name. This form of ownership provides a sense of security and stability, as franchisees can rely on the support and expertise of the franchisor.

In designing our franchise, we took inspiration from other forms of business ownership to ensure its success. Firstly, we incorporated elements of a sole proprietorship, where the franchisee has full control over their individual store operations. This allows entrepreneurs to bring their own personal touch to the business, creating a unique shopping experience for their customers.

What factors each entrepreneur needs to take into account to ensure business  success? State the two countries you considered and state the reasons for your choice.  Be factual and try to attract other investors (your peers) by appealing to their business knowledge (and not only sentimental reasons).

To ensure business success, entrepreneurs need to consider a wide range of factors that can greatly impact their venture. These factors can vary depending on the industry, market, and country in which the business operates. However, some general considerations apply universally:

1. Market Analysis: enables entrepreneurs to spot opportunities, identify gaps, and tailor their products or services accordingly.

2. Business Plan: serves as a roadmap for entrepreneurs, providing direction and clarity.

3. Financial Management: entrepreneurs need to carefully manage their cash flow, monitor expenses, forecast revenues, and set realistic financial goals.

4. Talent Acquisition: entrepreneurs need to attract, recruit, and retain skilled professionals who align with the company’s values and goals.

5. Legal and Regulatory Compliance: entrepreneurs must ensure their business practices are ethical, transparent, and in accordance with local laws. This includes areas such as intellectual property protection, data privacy, and labor regulations.

Clearly specify what service or product you want to market based on your findings. Please explain in detail how you came to make this decision, including the steps you followed. Briefly comment on your market research plan and the results of all the tests and exercises you have done in the previous as well as this unit to help you reach your final decision. SHOW that it is an informed decision based on your work in this unit. Provide explanations on how your innovation could become the success you want it to be.

Please explain how you as an entrepreneur are conducting market research of your product or service.  Ask at least one market research related question that will engage your peers and will provide you with a sampling of what your potential clients (peers) are looking for in the product or service that you have developed. Engage them in providing insight into deciding on your product of service offering.

As I mentioned last week in my Discussion Forum post, the product that I want to market is a new line of black-themed activewear. This decision was made after considering the mission of creating a community of fashion enthusiasts who appreciate black-themed fashion as a form of self-expression. The goal is to offer high-quality products that not only look great but also make customers feel confident and empowered. Additionally, the growing popularity of athleisure and fitness culture indicates a demand for stylish workout clothing that incorporates the elegance of black.

To reach this decision, I analyzed trends in the fashion industry, particularly in activewear and athleisure. I observed the increasing popularity of black-themed fashion and its appeal to fashion enthusiasts. I also looked into the market demand for activewear and fitness clothing, noting the rise in people incorporating workouts into their daily routines. I was a bit surprised to see, that among young people all over the world fitness clothing is the largest product segment (Linchpin Marketing Team, 2023). By combining these two trends, I identified an opportunity to create a new product line that caters to individuals who want to look trendy and fashionable even during their workouts.

Comment on findings from your University of Pennsylvania survey results, your readings and your learnings and this unit. Show how you interpret your scores and what you learned. To help you out, the author of this workbook prepared the following list of entrepreneur characteristics. Please comment on each one (why or why not they are important for you as an entrepreneur) as well as add those that are missing prior to deciding which test to take.
Do not forget to share what you learned during the course of this unit, including this exercise.

This week I registered on the University of Pennsylvania test center and took the brief strengths test because I believe that it is crucial to know my strengths and weaknesses as for the entrepreneur. Based on my survey results, it seems that I have strong communication and creativeness skills but lack the courage to make decisions and consider the potential consequences they may have. Without the willingness to take risks and make decisions, it would be difficult to succeed in a competitive business environment. As someone who lacks courage in decision-making, this is an area I need to work on in order to become a successful entrepreneur.

Communication and creativity are both strengths that I have identified through the survey results. These are valuable skills for an entrepreneur as they allow for effective communication with stakeholders and the ability to generate innovative ideas. However, without the courage to take action on these ideas and make decisions, these strengths may not be fully utilized.

1. Visit, read, and register with the University of Pennsylvania Test Center at https://www.authentichappiness.sas.upenn.edu/testcenter.

2. Choose a survey that you deem will be the most useful for you as an entrepreneur. If you have already taken any similar test before, take a different test, and indicate it in your submission, provide your prior scores AND do a comparison of results. If this is your first time to take similar tests, comment on what made you decide to take the test you chose.

3. Answer the following three questions: what qualities do I need to develop to realize my potential as a successful Entrepreneur? How did I make my conclusions? How will I provide and accept feedback?

I’ve never heard about the University of Pennsylvania Test Center before and it was a very interesting experience to look at it and take the Brief Strengths Test. I believe that for me, as an entrepreneur, it is essential to know my strengths and weaknesses so that I can leverage my strengths and work on improving my weaknesses.

To answer the question about why it is important to know your strengths and weaknesses as an entrepreneur, I would say that it is because entrepreneurship requires a diverse range of skills and abilities. Knowing my strengths allows me to focus on what I do best and leverage those skills to create value. On the other hand, being aware of my weaknesses helps me identify areas where I need to improve or where I might need to seek help from others to compensate for those weaknesses.