30A – Final Reflection

29A – Venture Concept No. 2

 

28A – Your Exit Strategy

My exit strategy is simple. i have always said the goal is to land a big streaming network to work with us and create an original show with no censoring. The ultimate goal was to find someone who can see the picture let us operate the production for the first few years and build up some worth with good ratings. Then they know what the audience and people love and we as a company would feel more than comfortable to sell the rights to our name, not only broadcasting rights. This is something that can let me take on new possibilities in different areas of the sport industry and allow the show to live on and provide the entertainment to the fans I initially sought out to do. I would then take the money from that and look into getting involved with a new rapidly growing area in sports and that is esports. I have many ideas specifically to invest in the untapped youth area of esports, then I would build that up and probably keep that as a family venture and pass down that torch for generations, seeing as that youth esports is only going to grow since it has barely been created yet. I chose this particular strategy because this program idea wasn't my vision for my entire career just an opportunity that was too good to pass up on, an opportunity to create wealth for myself and my family. I don't think my exit strategy influenced the way I handled my business. Although, I had this in mind to be the way I went out with this, I always focused more on the goal of the idea and not how I will leave the process/industry of sports media. I always had the proper intentions for the program and content I was creating to make a name for my company and providing entertainment for fellow sports fans. 

27A – Reading Reflection No. 3

Grinding It Out: The Making of McDonald’s, Ray Kroc.


Honestly, I chose this reading specifically due to the fact of how much I enjoy hearing about what this man did for himself and the fast-food industry. The title "grinding it out" was perfect to describe the way Ray Kroc did things for himself, a hard working citizen who did not stop no matter what came in his way. Ray Kroc turned a simple burger joint into the power-house fast-food chain we all know as McDonald's today. Ray knew exactly what made his business special but took it and enhanced every aspect of it, creating something no one has done in the business of quick burgers. He created the perfect system to make fast service and quick results. This eventually let him take the business and create a giant franchise, with a catchy american oriented name, fitting the food they served "McDonald's" a name that will forever be known as the "fast food kings". The way Ray was able to franchise McDonald's at such large amounts and in quick time is beyond impressive, he actually had cut his own salary to get this going the long run. This man went from working middle-class citizen to multi-million owner of one of the most recognizable franchises in america, and eventually globalized it everywhere. McDonald's is now enjoyed by everyone in the world and almost every industry has a McDonald's close by waiting for them to enjoy great food. Ray Kroc is a perfect example of a hard-working and fearless entrepreneur. Someone we all should be looking up to as a role model. His work ethic is by far the best thing you can learn from his path to success.

26A – Celebrating Failure

Honestly, this past semester was obviously a big change and adjustment for all of us. I am currently retaking this class due to my failure of adjusting my time management when the end of the semester moved all online. I had trouble finding a way to adapt and keep on top of this class specifically. Covid was a big unexpected curve-ball, I did not handle it to the best of my capabilities. I had trouble focusing and my anxiety got the best of me.

What I learned from this is that life will occasionally throw curve-balls at you, you just have to figure a way to adapt to the pitch and lean with it. Everything is not always going to be expected and that is something I learned this past semester. The one thing you should expect is the unexpected. Once you know that, anything can be thrown at you but you'll have the strength and confidence to handle it accordingly.

I believe failure is something no one should fear, but I also believe you shouldn't welcome it. Failure is inevitable in some shape or form, everyone will face some sort of failure. Failure is not the "end of the line" it is a lesson and teaches you how to adjust and address issues on what went wrong. Essentially, failure is apart of learning and growth, and plays a vital part in someones true growth as a person. I invite risk into my life due to me being a huge believer in risk for reward.

23A – Your Venture’s Unfair Advantage

1) Social Captial- Social Capital is very important because it shares your values of the entire operation. It helps the consumers and audience engagement with the company and helps them be comparable and connected with the people behind it all. It adds crucial and irreplaceable value to the company. 

2) Finances- This is always very helpful to have your finances in order. This is important because creating a business takes time and money. Fortunately, I have created other ways to increase our cash flow and this made it possible to have a decent amount of funding to make this the best it can possibly be. 

3) Brand Personality- Our brand personality is basically just reporting in a way that fans can relate to. Like backyard talk, or bar banter. This is exactly what separates us from our competitors and will be exactly why we grab viewers from them. 

4) Brand Identity- Our brand identity was very simple to figure out with it being such a simple but specific idea. This is crucial for a business to have because it shows who you are and helps connect with your consumers/audience in a specific way. I believe this to be the most important aspect to have, due to it reaching out to your audience in such a unique way. It also helps the image of the company shine and shows its colors to the public. 

5) Social Media Marketing- This is something that is fairly new and very important. It is a new way to promote your business and expand in outreach in a much faster way than the older, traditional ways some are used to. 

6) Vision Statement- This is something I find important to have linked for the public to see. I believe the public knowing your ultimate vision helps them see there will be more growth from something that has already caught there eye, and makes them excited to stay for the journey. 

7) Team- I have a team in place for the entire process of creating this. Including, production, graphics, hosts, media, analytical staff, and more. This is huge because we have several people focusing on a piece of the process of everything and it is to their specific expertise. This will let us create the best product for all of our viewers. 

8) Target Audience- Knowing the target audience is a major thing to have before launching anything for business. Especially because it gives you the opportunity to prepare your content/service/product to be the absolute best for the people you are going to be selling it to at a higher rate than anyone. 

9) Format- I have a format for the show in place and exactly the discussions and topics the hosts will be going over. This is huge to know so we have an idea of exactly what we'll be executing every week and what not to get our heads into as well. Keep it pretty localized to sports.

10) Goal- Obviously, I have a set goal in place for this program to launch on a popular platform, in order to reach my audience as fast and easy as possible. Eventually building up from Facebook/Youtube Tv to Netflix, Hulu, or HBO. This gives me the chance to pave my way through and reach out to these streaming platforms to push my channel to the next step. 

21A – Reading Reflection No. 2

"How To Fail At Almost Everything and Still Win Big"

The overall message of this book was to basically show that there are an endless amount of ways to do everything and have the outcome of success. In the book, it described failures as a way to shape people and create an opportunity for reform and adjustment, which ultimately is an adjustment to be made for greater success. In this course, we have covered failure and how it is inevitable for all of us to see our share of it, this does not mean everything ends, it just paves the path you are taking to adjust and shape for success, as discussed in the book as well. The exercise I would create would be making students create an idea and list 5 obstacles they think they could come by and what the solution/adjustment would be to fix the failure of an attempt for a successful idea. This book was no surprise to me, I was most attracted to it due to me having that "never back down" mentality. This book in a way described my overall mental outlook on life and its obstacles.