Independent Component 2

LITERAL
(a) Include this statement: “I, student name, affirm that I completed my independent component which represents _47hours and 45min of work.”
(b) Cite your source regarding who or what article or book helped you complete the independent component.

John W. McGuthury 
Vice president and 
Chief Information Officer 
Division of Information Technology 
California State Polytechnic University Pomona 
(I do not know if I can post his contact information since it is not in the cpp staff directory, but if you want it as proof I will show it to you in person)

Tai Lopez
Investor Entrepreneur and Author
Founder of tailopez.com
http://tailopez.com/
1.800.604.2587
8581 Santa Monica Blvd # 703 West Hollywood CA 9006
 
(c) Update your Independent Component 2 Log (which should be under your Senior Project Hours link)
done
(d) Explain what you completed. 
I researched and figured out my business model for my Startup. I learned many things in the process and got a new mentor. I was able to define my value proposition, customer segments, channels, cost structure, and revenue streams for my Startup. I followed two of my answers for my EQ as I began researching for my startup. I followed the customer development process and business model canvas. I did extensive research and went to events to gain more knowledge of the business world. I honestly underestimated the work that has to be done when launching a Startup. To launch my Startup I would have to invest  an initial amount of $17500. The 47 hours and 45min of research I did is not enough. There are many more things I need to figure out before investing to reduce the chance of failure. The more I research and figure things out the more I get assurance that my business model is repeatable and scalable so that it can potentially turn into a viable company.
INTERPRETIVE 
Defend your work and explain the component's significance and how it demonstrates 30 hours of work.   Provide evidence (photos, transcript, art work, videos, etc) of the 30 hours of work.  

APPLIED
 
How did the component help you answer your EQ? Please include specific examples to illustrate how it helped. 
I was able to test out my idea for my startup with the customer development process. I figured out that my target audience is 19-24 females who are in college and like to dress well
I was able to figure out the different things I need to cover to run my startup. Like my value proposition, customer segments, channels, cost structure and revenue streams.
I was able to figure how much capital I need in order to get everything up and running.
I was able to learn more things other than customer segments and the business model that I need to worry to run a business. In these conferences I learned many things.  Some key points were marketing strategies, the four p's, personality tests, cognitive biases, and  business productivity.
All in all,  I learned many of the things a startup has to work on to be able to turn into a viable company. 

Grading Criteria 

• Log on a digital spreadsheet under Senior Project Hours
• Evidence of 30 hours of work 
• LIA submitted to blog