BUS 435 Small Business Ventures FINAL PAPER

BUS 435 Small Business Venture Journal 1

Entrepreneurial Potential Self-Assessment Results:

MEANS (who I am, who I know, what I know, what I have):

MOTIVATION (desires, passions, expectations, aspirations):

FEASIBILITY (strengths, weaknesses, constraints, contingencies, risk, affordable loss):

POTENTIALITY (self-confidence, perseverance, viability):

OVERALL ANALYSIS:

EPC:

Venture: _____________________Name: _________________

Week 1 – Entrepreneurial Profile Canvas (EPC)

Based on the information in your Entrepreneurial Profile Canvas (EPC), summarize your observations and conclusions in assessing your capabilities as a prospective entrepreneur of a small business venture.

BUS 435 Small Business Venture Journal 2

NOVELTY – The extent to which the opportunity idea is original and modifies the current mode of thought:

RELEVANCE – The extent to which the opportunity idea applies to a current need and will be effective:

SPECIFICITY – The extent to which the opportunity idea is clear and worked out in detail:

FEASIBILITY – The extent to which the opportunity idea is easily envisioned without exceeding known constraints:

POTENTIALITY – The extent to which the opportunity idea represents or portends future value and utility:

OVERALL ANALYSIS:

EOC: SBV Analysis:

Week 2 – Entrepreneurial Opportunity Canvas (EOC)

Based on the information in your Entrepreneurial Opportunity Canvas (EOC), summarize your observations and conclusions in assessing the opportunity idea for your small business venture relative to the following criteria:

BUS 435 Small Business Venture Journal 3

NOVELTY – The extent to which the solution idea is original and modifies the current mode of thought:

RELEVANCE – The extent to which the solution idea applies to the identified opportunity and will be effective:

SPECIFICITY – The extent to which the solution idea is clear and worked out in detail:

FEASIBILITY – The extent to which the solution idea is easily actualized without exceeding known constraints.

POTENTIALITY – The extent to which the solution idea represents or portends future value and utility:

OVERALL ANALYSIS:

BMC: SBV Analysis:

Week 3 – Business Model Canvas (BMC)

Based on the information in your Business Model Canvas (BMC), summarize your observations and conclusions in assessing the solution idea for your small business venture relative to the following criteria:

BUS 435 Small Business Venture Journal 4

Week 4 – Venture Model Canvas (VMC)

Based on the information in your Venture Model Canvas (VMC), summarize your observations and conclusions in assessing the strategy idea for your small business venture relative to the following criteria:

NOVELTY – The extent to which the strategy idea is original and modifies the current mode of thought:

RELEVANCE – The extent to which the strategy idea applies to the identified opportunity and will be effective:

SPECIFICITY – The extent to which the strategy idea is clear and worked out in detail:

FEASIBILITY – The extent to which the strategy idea is easily actualized without exceeding known constraints:

POTENTIALITY – The extent to which the strategy idea represents or portends future value and utility:

OVERALL ANALYSIS:

VMC: SBV Analysis:

BUS 435 Small Business Venture Journal 5

Week 5 – Venture Feasibility Assessment

Using the information documented in your EOC, BMC, and VMC, summarize your observations and conclusions in analyzing the overall feasibility of your small business venture.

NOVELTY – The extent to which the business idea is original and modifies the current mode of thought:

RELEVANCE – The extent to which the business idea applies to the identified opportunity and will be effective in creating value:

SPECIFICITY – The extent to which the business idea is clear and worked out in detail:

FEASIBILITY – The extent to which the business idea is easily actualized without exceeding known constraints:

POTENTIALITY – The extent to which the business idea represents or portends future value and utility:

OVERALL ANALYSIS:

SBV Analysis:

1. Potentiality - EOC: The potentiality. of the trailer rental business is poised to be a vast and opportunistic endeavor if the correct installation of the right market and not executed correctly.
2. Novelty - BMC: The idea is nothing new; however, the application and availability are. It moves from the requirement of a specific tow vehicle and the obligation to remove the trailer's content before returning it. The venture must have a social media presence, and more than targeted advertising as a website alone will be required.
3. Relevance - BMC: Solutions must have a problem or conflict. The venture satisfies the customer who needs a trailer for a day or week. Removing the trailer's contents is the coveted aspect of the trailer rental venture as it relieves the customer of the disposal burden.
4. Overall Analysis - BMC: I realized I needed to structure the venture toward waste management and car rental entities. The trailer or sign on the local corner with a handmade sign is not how I envision the entity.
5. Novelty - VMC: Bringing the "everything" trailer outlook changed the thought of what could be the beginning of the entity; many more options are present and readily available to exploit.
6. Relevance - VMC: This week, the most helpful replies and suggestions came to my vision and clarified the vision and vector for the entity.
7. Specificity - BMC: I could exploit additional revenue streams such as offering insurance or laborers as a point of sales add-on.
8. Feasibility - BMC: There are few constraints to overcome to realize the venture. The investment of capital is the most significant constraint. I will not leverage my venture with debt as the risk is too considerable.
9. Overall Analysis - VMC:
10. Specificity - VMC: The who, what, when, where, why, and how or as i like to say who's doing what by when, is solid and needs little adjustment to make it rock solid.
11. Feasibility - VMC: I learned I need to find a way to raise the acceptability score as the lack of knowledge of the business segment is lost on more people than I thought. The board was able to provide great ways forward.
12. Potentiality - VMC: The scalability of the entity is the most exciting factor of the whole effort. I can pivot to many different attributes of the trailering business and use the peaks and valleys of the fluctuating market. The low risk of the entity is reassuring as I don't want to put the entity in a spot where the viability or solvency is something I must face as the president.
13. Novelty - EOC: The idea and its originality are nothing the public has not seen or used. The novelty is the modification or the untieing of the truck and trailer to just the trailer.
14. Relevance - EOC: The need for the trailer niche in the market is significant and mainly unmatched by the customer's demand. The niche segment is where the trailer rental market can flourish.
15. Specificity - EOC: The level of specificity is critical and understood to avoid under or over-anticipating the market demand and managing inventory stagnation.
16. Feasibility - EOC: The homeowner's or construction site's natural environmental need is prime with opportunity, and resources are easily scalable.
17. Overall Analysis - EOC:
18. Novelty - SBV:
19. Relevance - SBV:
20. Specificity - SBV:
21. Feasibility - SBV:
22. Potentiality - SBV:
23. Overall Analysis - SBV:
24. ENTREPRENEURIAL POTENTIAL SELF-ASSESSMENT RESULTS: The self-assemsment was expected. The score of 175 was on par with the answers to the questions posed.
25. OVERALL ANALYSIS - EPC:
26. MEANS - EPC: I'am a dedicated, smart, loyal, family-centered, growth minded, firm but fair leader. I will not associate nor invest with dishonost, closed minded, and lazy individuals or business's. I do not find software developing / engineering or any form of decorating interesting. Personal: Any Family member and friends. Social: My church and Business acquaintances. Professional: My mentorship contacts and coworkers. I have completed 5 Years of Trade School for Heating, Ventilating, Air Conditioning, and Refrigerant (HVA/CR) and am 12 Credits away from completing my BS in Business Administration and Entrepreneurship. he University of Arizona alums and individuals willing and ready to hear my business ideas as potential investors. I will try everything in my power not to leverage my business with debt, so a slow and steady investment in the company will be my approach.
27. MOTIVATION - EPC: I wish to become debt free with an active and passive income stream from multiple sources to lessen the risk to my financial portfolio. I expect this to take 5-10 years to be sound in the income stream(s). My aspiration to own, run, and eventually sell (preferably to a family member) is the end goal. Financing the establishment of my entity is the most significant constraint I face now, as I refuse to incur debt.
28. FEASIBILITY - EPC: My strengths learned from years of experience in the workforce and my education provide me a vector to achieve success.
29. POTENTIALITY -EPC: My potential is my self's ability to unlock my internal thoughts that will ultimately block and hinder my ability to be successful in business. I will persevere until I succeed!!
30. Clear Page:
31. Potentiality - BMC: The venture's utility is on stable footing. The do-it-yourself (DIY) market is vast, and the number of home improvement giants can provide a path to customers for weekend warriors. The potential for general contractors is even more promising.
32. EPC Link:
33. EOC Link:
34. SBV EOC Link:
35. BMC Link:
36. SBV BMC Link:
37. VMC Link:
38. SBV VMC Link:
39. SBV SBV Link:
40. Name: Kevin Sessions
41. Business: Trailer Rental