Dotting the Coms and Bombs.

After the lesson and power point presentation (I don't recall the day, I know I'm far behind but better late than never) I did a little research on the dot-com companies and how the dot-com bubble burst. During the late 1990s and the beginning of 2001 is where electronic commerce were all the rave and anyone wanted to be a part of it, investor put a lot of money into these operating companies that worked online. Companies wanted to be BIG fast. I mean really fast like WebVan $375 million in IPO and what the power point mention about Pets.com. Even Amazon stepped in, in 1994. Then Boom! Many companies were overvalue for its worth. The problem? I think it's because most of these companies and investors ignored signs of problems within the company -such as rules of investing, studying market trends and the big one - reviewing the companies business plan. To me, I think these companies were in love with the idea of something new. "lets created, something new", with it's product, but no actually plans to really have a well thought and outline plan of even basic questions like, who, when, what, how, and why for this [what the company is selling] will work. 

I read an article it had to do with something about Internet Bubble 2.0. e-commerce is like a day in the past, move over and bring some social media. Facebook, Twitter, LinkedIn and Groupon are the new rave. 

Guest Speaker: Bruce Kendall

I think Bruce Kendall has to be one of the most interesting presentation out of the ones we had. I think it's because I also have so much pride to be in Washington. Great business like Boeing, Amazon, and of course Microsoft all came from Washington. Before the presentation I knew that economic development is an ongoing processes for United States in general and it has become more have a hassle to keep U.S companies in the U.S, now that were facing globalism since outsourcing is such a breeze. 

I did I study way be in my freshman year of high school about outsourcing. I remembered my opinion about outsourcing was very negative, just like what I think Bruce Kendall implied. However, I still think outsourcing would be furthest thing I would what to do for my company -I understand that it's not a black and white decision. Like everything else, there's pros and cons. What Kendall is trying to do is to keep companies that are already here to stay here and persuading them and finding resources for these companies to stay and help our economy instead of giving it to China and Taiwan to name a couple of big players. Especially in Shenzhen, China. It was like a ghost city and now in a matter of years, maybe even months, all those factories because of cheap materials and labor. 

What I found to be most interesting is Kendall wasn't talking about outsourcing to different counties. No, he was talking about Washington state in general. He touched based about economic clusters especially in Seattle. Just like I mention earlier, all those company like Microsoft and Amazon they're all in the King County. What about Pierce County? I admit, I never thought about having my business or heard of anything well known business that originated or is still in Pierce County. Even statistically speaking, crime rates and poverty shows that Tacoma was the highest rate compared to Seattle. That's what Kendall wants to stop investors and business owners to see past all of the "statistics". I never thought that Tacoma is in competition with Seattle in placing companies, but now I understand that there is a cluster and by spreading it out to Tacoma helps Tacoma, economically. 

Mission Impossible

All in One Card

Using actual cash and carry a bunch of card is a thing in the past. The future for consumers is now. All in ONE wants to provide a universal card that stores all your cards from credit cards, debt cards, loyalty cards and even gift cards. It’s fast, easy, declutters making it efficiently effective for everyday lifestyle. All in ONE is for those who likes to keep it traditional and carry at least ONE card and for those who seize the future now and dish the all cards.

Forgot your card at home? Don’t worry! All in ONE application will allow you to pay with your mobile device. It has the ability to have options for users to use either any smartphone mobile device or their All in One Card. It lightens the load of users wallets and simplifies the essence of everyday purchases for anyone and everyone has cards. Whether if it’s a credit card, ATM cards, reward card and even gift cards. All in One Card and/or smartphones can replace them all.

Mission Statement in short:

·      To be innovative with efficiency and effectiveness

·      To make everyday life simple to be enjoyable

·      To be easily accessible that an All in ONE is in every wallet

Rough Plan but I'm going for it

***When stated "we" and "our" it refers to the company as a whole All in ONE Card. When stated "you", "your", "yours", and "user" it is use interchangeable for consumers who bought or is considering in buying the product. 

All in ONE Card is an application that connects your phone with one card all via a low battery Bluetooth signal. That one card can store all card information such as credit cards, ATM cards, loyalty reward card and even gift cards. Your All in One Card will come with a small device that attach do you smartphone by the earphone plug. Once you have your All in One Card, all you have to do is download the application onto your smartphone and plug the device to your phone. Take a front and back picture of your card and slide the card through the device and now your information is stored to your phone and on your card. You can all as many cards as your hearts’ desire. To use the card, simply of a push of a button displayed on the card, showing what card you want to use, press a lock button, then swipe or tap it away like any other card. Best part of the application? If you forget your card at home, just pay with your phone! With the ALL in One Card application you can also access your cards and pay for merchandise through your phone. The card itself will deactivate when your phone is away from the card within 30 feet.

What is the card?

All in One Card is a digital card that holds all cards information with a touch of a button. On the front screen of the card, users can see what card they are using and see the barcode on the card (if the card does not have a magnetic stripe). There’s also a number pad to put in PIN codes to lock and unlock, activate and deactivate. On the backside, that has a unique identification number, a small square for “tap-in” transactions and a magnetic stripe for swipe transactions.

Note: The unique identification number does not contain personal financial information. It is simple for lost and found. If someone happen to find a lost All in One Card, she/he can simple go on our website, enter the numbers and we will notify the owner.

When someone finds the card and enters the number on our website under lost and found, we will email her/him a printable shipping label to send to us, which we then send to the owner. As a reward to the finder; we will send a coupon for 20% off the All in One Card.

Why use All in One Card?

It’s fast, easy, declutters making it efficiently effective for everyday lifestyle. It the ability to have options for users to use either the just the smartphone mobile deceive or their All in One Card. It lightens the load of users wallets and simplifies the essence of everyday purchases for anyone and everyone has cards. Whether if it’s a credit card, ATM cards, reward card and even gift cards. All in One Card and/or smartphones can replace them all.

Why a card and not just jump straight into mobile application?

Sometimes people are scared of the new innovations of technology. Paying everything with just your phone might sound scary to others who are afraid of change. Then there are other people who need that tangible item like a card to feel “safe”. With the All in One Card anyone can transition from using one card to just using your phone.

Security?

At All in One Card, we understand that security of personal information is important. If you loose your card or step away from users card for more than 30 feet, it will notify you via text-message that you are too far away from the card. It will give you two warnings that it will deactivate and the card can no longer be in use. However, to reactivate the card, just go on the app and enter your own PIN number that you created.

Another security is, all cards such as credit cards and ATM cards have to be under your name only. Users cannot add cards that they do not own (All in One is looking to work with financial-data service that are licensee of the TRUSTe Privacy Program such as Yodlee). Along with password protection, all information will be encrypted so security will be enhanced. However, All in One does not promise that it is immune to security threat, it is meant to improve security for our users as best as possible.

Today, we all know smartphone have some sort of GPS system attached, or at least should. Thus, making it easier to track if you lost your phone or left your card behind than with traditional cards left in your wallet. Stated in the previous section, All in One Card and application will also notify you every time you make a transaction. So if users see something they didn’t buy they can deactivate the card and call their card provider.

What happens when the card is broken?

There will be a three year limited warranty on the card for damages and for the worn off magnetic strip. 

Warranty does not cover water damage or stolen card (follow the Federal Warranty Law code).

How we (the company) make profit?

The card and the plug in device will cost $90 plus shipping. Using your smartphone with the ALL in One application for a purchase will be a 15-cent charge per transactions. Insurance for the card are also available. 

Good or Bad. Just Market It

I'm not going to lie. I don't recall our last speakers name. I believe it was Evan Graham? Something like that. He made it very clear that it does not matter what invention it is, just market it. Marketing is key when it comes to selling anything. He made a quote by Ralph Waldo Emerson, "Build a better mousetrap and the world will beat a path to your door." It might be true back in the day but that's not the case now-a-days. If people don't know about, how do they know if it's the "best" mousetrap. Graham also mention there's three ways inventions are made.

Ideas	Marketing	Cost	Income
Good	Bad	Low	None
Bad	Good	Low	Short-Term
Good	Good	High	Long-Term

What he means by this is, someone can have the best idea but if there's little cost of marking involve  you want get any money for it. When you have a bad idea but spend a pretty penny on marketing, you'll have short-term income (such as the snuggle: what I mention in my earlier blog). Last, but the best way is to have a good idea, put a prettier penny in marketing and in result you have long-term income. Graham also mention that a company like the very first Amazon Kindle was a good idea but the product itself wasn't want they really wanted to put out. However, the marketing was incredible and people were interested and bought it. That short-term income can be invested into the idea again to make it better. Put even more money into marketing and the short-term income becomes a long-term one.

So, from what I learned from this presentation the most is. MARKETING! MARKETING! MARKETING! 

Speaking Of...

Erik Hanberg was our class guess speaker last week. Erik is an entrepreneur/ author. He writes books like mystery novels to how-to books. He's how-to's like The Little Book of Gold, is a step by step to help small non-profit business, or what Andrew likes to call it surplus profit business. It suppose to be a key staff in charge to help fundraise the business (because every business needs to make money even if it stated that it's a non-profit). He gave up his nine to five job to be an entrepreneur and work with his wife because he loved the freedom he gets because him and his wife are in charge. He almost mention that it's hard and that he had to work endless hours for a period of time, but he felt that it all paid off in the end. 

What spoke to me the most of his whole presentation was the three questions to ask yourself when it comes to finding or accepting a job offer. He mentions that there is always opportunities knocking at your door, but you don't have to take it if you really don't want to. You're not going to like what you do if you do it that way. The questions: Is it something you want to do? Will you get paid what you want to get paid? Will it better your career?

Two out of those three should say yes to those questions. It could be that the job is something you want to do but the pay isn't want you want. However, it can better your career because it may not be the pay you want but you can learn from that job and move on to a job that pays better. There can be any combination of those three questions, at least two of these questions need to be a yes. It's great that it's all a yes, then you would love your job. 

Another topic Erik touched base on was that he even had to go to an business advisor. Every quarter he goes to see a business advisor to see where he stands and what to do. The business advisor is more of an accountability. Even professionals ask for help and there's no shame in it. 

Not a Entrepreneur: Here goes nothing

I was told to come up with three business plan and to be quite honest, I was having the hardest time coming up with something, anything. I felt all the ideas I came up with was either lame (for the lack of better words) or already taken. Now-a-days it's hard to come up with an "original" idea. Internet and social media make it easier to become entrepreneurs. Just the other day I was watching Shark Tank, and a lady invented a potty training for cats and a man made a cologne called money and it smells like money. Both got the deal! Not to mention the a blanket with holes they call the snuggly blanket making millions. What else can you ask for....

Here goes my attempt for business ideas. 

Check In & Out Kiosk

I don't travel a whole lot but when I do, there's a few things I would like to fix. Like checking in and checking out of the hotel is a struggle. Waiting in line on top of dealing with the front desk clark that's slow or new so they're in training. What if I was a business person and I had to wait 15 minutes to check-out but I don't have time to wait because I need to be at work in that 15 minutes. Won't it be easier to just "cut of the middle man" to do the job. A kiosk that can check you in and check up out and even sends you via text messages notifying you with just a few touch of a button/ screen. 

So with this Kiosk is the step by step

I'm a customer at Blah Blah Hotel, I come in and there's three kiosk and the traditional front desk clark. I'm going to go to one of these kiosks to checkin. I'll slide my credit card and request how many days I want to stay, lets say three days. There will be an option of sending me my receipt and friendly reminders of hotel events and one hour notice of checkout time. Lets say I click on both options. There's also an option if I want two card keys or one. Once the kiosk receive my information and I completed the transaction, the kiosk will spit out the card keys for me and I'm ready to go in my room. Lets day on the second day, my workplace wants me to stay an extra two days. I can then text Blah Blah Hotel through an app that I already click that option on the kiosk to extend my checkout day and if my room is still available or move to a different room. Since the kiosk already has my information all I have to do is text and YES to the kiosk and my new receipt will show up either through my phone via text messages or email. Quick and Easy. Maybe this kiosk is not just for hotels, motels, inns and so one, but it can also work for daycare. checking in and checking out their children off to daycare can be a hassle. That will be another idea though. However, knowing my luck it's probably already invented. I Googled online about this kind of system and they already have a couple of them running in Amsterdam and in New York.

Flash Tab  
This is not so much a business plan or even a business, just an idea. The idea to have a digital expiration tab on the car so you just pay online and it automatically changes the month or year of the tabs for your car.

Robot Windows
I never liked cleaning the outside or even inside my house windows, especially when the windows are so high up. Or even those skyscraper windows. Wouldn't it be cool to have a robot window cleaner, just the like Romba

Virtual In Store Shopping 
Like in Korea and Japan, they already have something like a virtual convenience store. How about retail shopping? I'm sure average teenage girls love to shop. I like to shop. I just hated trying on the clothes. It takes so long and tiring to try so much jeans and shirts. What if you can do it virtual. I use to play this app on my phone and I just take a picture of my face and it lets me put on different hairstyle, cut, color, etc. Like the xbox connect live. It's motion sensor so all you have to do is wave your arms.
Just a Thought.