Open Online Entrepreneurship Forum
Necessity is the mother of invention, says Plato’s Republic. Tonight we were supposed to have a live, Open Entrepreneurship Forum, where my independent study registrants from this semester could compare best practices in person, sharing successes and commiserating in terms of challenges. But with so much snow in Boston, we ended up doing it via phone.
The participants have some diverse business ideas, a few snippets of which are below. We hope to continue this Forum throughout the semester, if not on campus, than perhaps over coffee or drinks.
- Improved Residential Delivery
During the past few months I have worked with an informal team of classmates prototyping and proving a concept for a venture to improve residential delivery, and one that we are interested in developing into an actual business. We are already on our third prototype, with over 30 users, and in conversations with developers to take our efforts to a new level.
This spring, my goal is to launch a minimum viable product that attracts enough users and transactions to put our team in a position to have meaningful conversations with at least one business partner and one potential investor.
- Hedge Fund Investment
Currently, client minimums to invest in commodities or hedge funds are too high for investors with less than $1 million in investable assets. My new firm aims to solve this problem by offering smaller sized accounts to these very investors with the purpose of being a serious, long-term part of client’s portfolios. The added value of the firm is the uncorrelated, positive returns clients otherwise do not have access to. Our competitive advantages are many however our primary advantages are customizability, transparency through separately managed accounts and our proprietary strategies developed in-house.
- Family History Based Travel
I would like to develop and execute a business plan for a family history based travel consultancy. The business is based on meeting the needs of personalized travel recommendations based on family history combined with the willingness of history majors to provide ad hoc work within their field of study for a low cost. The business will be web based, using organic search as much as possible to drive inbound leads. My process will be loosely based on Lean Startup methodology. During the semester, I will work with a Web Developer and Digital Marketing Specialist with significant experience in SEO and website development. I will also work with an adviser with considerable entrepreneurship experience to help shape the course of the business.
- Ortho Substitute
A surgical option that develops superior tissue and could be performed as a single procedure would create value for both patients and health care providers by reducing patient recovery time and surgical OR time. The Value Chain associated with this ideal solution would provide an advantage because the costs associated with the 2 stage therapy requires significant operating capital to maintain lab space for growing tissue.
