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Business Idea: Virtual Reality Concerts

I have come up with a very basic and preliminary idea for a business: virtual reality concerts.

Problem: the inaccessibility of concerts. I love going to concerts (I have been to over 25), but ever since college has started it has been a lot harder to go to them. There’s a huge issue of transportation and also having class. The inaccessibility is also a much larger problem globally: artists only tour countries where there is a high enough demand, usually leaving a huge percentage of fans out.

Existing solutions: Now, there are live streaming services such as periscope that allows fans to watch concerts in real time over the internet. However, these services are usually poor quality and very unreliable. Fans can also watch videos back that are posted on sites such as YouTube. The problem with these solutions is that they do not replicate the true feeling of being at a concert.

Solution: Virtual reality is believed to be the next big tech item that will hit the market. It allows users to experience the digital world in a more realistic way than ever. By live streaming concerts in virtual reality, users can experience concerts in a much more vivid and realistic way than ever before. This is an expensive venture, so people would be able to buy a “virtual seat” to a show. It would allow users to feel like they are more a part of the entire concert-going experience. As virtual reality becomes bigger, so will the demand for this. Also, if users want to watch a VR concert but don’t have a set of virtual reality gear, they will be able to rent one that will be shipped to them for a higher cost. If lost or damaged, they will be charged the cost of a new pair.

Now, this is an idea that would take massive effort and funding. There would be the filming of concerts which means obtaining rights from venues and/or artists. This would most likely be a better idea for a virtual reality company and a concert company such as Live Nation to team up to do. It would not be an easy venture at all, but as I’ve learned from this class, innovation and entrepreneurship are not easy tasks. I just thought I would share this because it shows how much I have learned from this class. I would never have even thought about making a business, let alone assessing the market realities or applying innovation models to an idea that I have.

#improvement

TED Talk: Where Good Ideas Come From

watch this TED talk here

This TED talk by Steven Johnson was about how ideas are formed and what types of environments are needed to produce these ideas. First, he said that the concept of good ideas being born in a single illuminating moment was wrong. Yes, people have these epiphanies to bring concepts together due to a new network of neurons being formed in the brain, but usually all of the information for the new idea was already there. This is shown by Darwin, who said that he came up with the theory of natural selection in one “ah-ha” moment, when in reality he had all of the knowledge about the theory in his notes months before he came up with this formal theory. All it took was the right environment to the spark to happen. This coincides with the next park of Johnson’s talk: creating an environment for new ideas. Johnson said that innovation and new ideas happen when people come together. When people are bouncing ideas off of each other new, even better ideas form. Johnson believes that new work spaces need to be built that are more open and encourage collaboration.

I agree with what Johnson had to say. The idea of open office spaces has already been proved to work: most innovative organizations have spaces that encourage collaboration. This is the way forward because better ideas are formed in collaborative spaces. People often have a lot of knowledge but are unfortunately not put in the type of environment that will allow them to connect the dots and have that “epiphany” moment.

#improvement

TED Talk: Do Schools Kill Creativity?

watch the TED talk here

This TED talk by Ken Robinson was about the importance of creativity and how education systems around the world are killing it in children. Robinson made the point that “education is meant to take us into a future that we cannot grasp.” This means that children are being taught about the future and being raised to improve the future when we do not even know what it is going to look like in five years, let alone when these children graduate. He also said that all children have extraordinary talent, but schools squander them. If children have talents that are not in math or science, they are not valued. Also, children do not have a fear of failure or mistakes, but we are taught mistakes are the worst thing you can make. Children will take chances if they do not know something, but because we are taught that being wrong is worse than taking a chance, this innate skill is essential removed from us.

I really enjoyed this TED talk because it touched on some points I had already made in my introduction. Education needs to put a much higher value on creativity because it is what allows us to come up with new ideas to improve the future. Every single person faces failure, but instead of teaching people how to learn from it, we are taught to hide it and that it is a bad thing. The education system needs a drastic shift that will cater to people with all types of talents, not just math and science talents. By forcing children into boxes, we are limiting their creative potential and therefore killing the future of the world.

#improvement

Marty Ringlein

Marty was one of the most dynamic speakers I have ever heard. He was engaging, energetic, and interesting. He also had a brilliant slide deck to accompany his speech. The amount that he has accomplished in such a short period of time is really astonishing. He has a very clear vision of what the future is going to look like, allowing him to jump from job to job to stay ahead. The amount of prestigious companies he has worked out is incredible-- from Twitter to Apple to the White House; most people would be lucky if they had the opportunity to work at one. He shared very good advice on what it means to be an innovator and how to become one. One particular phrase he said that stood out to me was the paradox of “if we are telling everyone to think differently, then aren’t we all thinking the same?” This got me thinking because it is so true. Most of us are taking the same classes at the same University with the same job aspirations. We are all hearing the same sentiments: differentiate yourself by doing x, y, and z. But if we all do these, then we aren’t going to be different. Ringlein really put in perspective the importance of developing a strong competitive advantage and is proof that working as hard as you can (and then some) will lead to success. I also spoke with him after his presentation, and the advice he had for me was to learn a coding language. This was good news to me because I took three years of computer science in high school and passed the AP test. I now plan to keep up with my Java skills and possibly learn another language such as C++ or python. Ringlein was an inspiring but humorous speaker that I hope comes back to speak to BSE again.

#classsessions

No one else is going to do it for you. If you want it bad enough then go out and do it yourself.

Ed Sheeran

#improvement

Blue Ocean Strategy

Blue Ocean strategy is the idea of creating a company that succeeds because it pulls in an entirely new market compared to its’ competitors. The new company is no longer in a “red ocean” where there is blood due to the amount of competition, it is in a “blue ocean” where it has created a unique niche. The framework for Blue Ocean consists of eliminate, raise, reduce, and create. One company that is famous for being a Blue Ocean is Cirque De Solei. We actually got the chance to hear a guest speaker from Cirque and also watch the show. Read about that here.

Another company that utilizes Blue Ocean strategy frequently is Apple. Almost all of Apple’s products create a Blue Ocean because they eliminate what is wrong with competitor’s existing items, reduce and raise smaller details in existing items, and finally create what the consumer actually wants.

Blue Ocean is an important strategy for start-ups to utilize. It will allow a small start-up to really identify their competitive advantage to other, much larger companies. Start-ups are created because the company believes they have a unique solution to an existing problem, and Blue Ocean can really help zone in on how accurate a start-up’s idea is. When looking at successful, innovative companies, the Blue Ocean strategy applies to them most of the time.

#classsessions

3P Framework

The three “p” framework is found in the Innovator’s DNA. It consists of three parts: people, processes, and philosophies. The 3P framework theorizes that these three parts are the most essential components to a business. In order to see how this framework applied to a company, I examined the three P’s of IDEO.

IDEO is a truly unique and innovative company, so I wanted to further understand the people, processes, and philosophies behind the company. First, the people they employee are from all different backgrounds-- anthropology, engineering, business, psychology-- the list is endless. This goes hand-in-hand with their process, which is to put people from all different backgrounds on the same project. Doing this allows fresh, unique ideas because of the multitude of perspectives that are brought. Finally, IDEO employs a specific set of philosophies that act as guidelines when projects are being completed. Some of these philosophies include “encourage wild ideas” and “fail early to succeed sooner.” IDEO is a great example of how the people, process, and philosophies come together to create a successful business model.

The 3P framework demonstrates that focusing solely on money or success is not sufficient: one must have a solid foundation. Having a strong group of people, developing a process that works, and retaining sound philosophies will allow success to follow. By delving into the three p’s of a company, one can uncover why it is so successful. This framework also can be utilized internally by a company to further pinpoint what is and is not working in it. This can be applied not only to business, but to any sort of group activity, work, or problem one may encounter.

#classsessions

The ultimate goal of the creation process is to craft productions that invoke the imagination, provoke the senses and evoke emotions in the audience

Cirque du Soleil creation process motto

#classsessions #cirque

Cirque du Soleil

Guest Speaker:

Our first Thursday night guest speaker was from Cirque du Soleil. I had seen Cirque once previously when I was younger, so I was really interested to hear the processes and values behind it. What makes Cirque so successful is the strong core values that the company has. Each employee must maintain these five characteristics: team player, responsibility, committed, passionate, and creative. Artists must also question ideas, think of how to improve/simplify processes, offer solutions to problems, and be open to new ideas. The reason Cirque is so successful is because of the collaborative environment that is encouraged. No artist is greater than another, and each team member is essential to the success of the show.

The show:

Cirque du Soleil is a company highlighted as using Blue Ocean strategy in the circus industry. It eliminated star acts and animals; reduced humor, thrill, and danger; raised a unique stage; and created a theme, multiple productions, and artistic music/dance. The coolest part about Cirque was being able to see the Blue Ocean strategy present in a real company. The Cirque show captured my attention the entire time. Each separate act was unique and captivating in its’ own way. Also, acts were kept around five to ten minutes each, so none was too long. From optical illusions to acrobats to trampolines, no act felt boring or like a repeat. Despite this, there still managed to be a consistent theme throughout the show, tied together by the same score, similar visual background themes, and repeated characters. Cirque is an elevated, refined show that appeals to people of all ages, meaning more tickets are able to be sold. It is a truly unique experience that cannot be replicated, which is why it is so successful.

see pictures from Cirque here

#classsessions

Innovator’s DNA

Innovator’s DNA is a model on what makes innovators great. It consists of two different segments: natural skills and skills that can be practiced and improved. The two natural skills are willingness to take risk and to challenge the status quo. The skills that can be practiced and improved upon are questioning, observing, associating, networking, and experimenting.

Taking this information, I stepped back and evaluated myself. I am more comfortable challenging the status quo-- I do not feel the need to change who I am to fit in. I am willing to take more risk than some but in general I would consider myself risk adverse. I do think that this course has helped me push and expand my limits, and I have found myself taking bigger risks. The next step was to evaluate the more flexible innovator’s DNA characteristics.

Throughout the semester, I worked on improving my innovator’s DNA, which can be read here.

I do genuinely believe that with motivation and practice, a person can greatly improve their innovator’s DNA skills. These skills are ones that can be applied to any type of job, business or not. Developing a stronger innovator’s DNA will lead to more creative, out-of-the-box ideas and solutions which will make me more competitive when applying for jobs or internships. Innovation is for everyone and anyone who wants it. Developing innovation skills takes a lot of effort and practice. It won’t happen overnight, but with enough work you can develop a strong set of innovation skills. Not everyone is born a natural innovator, but that does not mean you cannot be an innovator. Innovator’s DNA has taught me the importance of having innovation skills, how to improve these skills, and the necessity of applying these skills.

#classsessions

For the past 33 years, I have looked in the mirror every morning and asked myself: “If today were the last day of my life, would I want to do what I am about to do today?” And whenever the answer has been “No” for too many days in a row, I know I need to change something.

Steve Jobs, Stanford University commencement speech, 2005

#classsessions

Your time is limited, so don’t waste it living someone else's life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become.

Steve Jobs, Standford University commencement speech, 2005

#classsessions

Cirque du Soleil // 09.15.16

read about Cirque du Soleil here

Lessons from Steve Jobs

“Design is a funny word. Some people think design means how it looks. But of course, if you dig deeper, it’s really how it works.”- Steve Jobs

Steve Jobs is known as one of the greatest innovators to ever live. Although he was not regarded as the kindest of people by many, he had an undeniable wealth of knowledge about many topics. Not only did he teach us about innovation and entrepreneurship, he also taught crucial lessons about empathy and design.

One of the main lessons Jobs taught was the importance of empathy with customers. Although he may not have called it human-centered design, that’s what it was. Jobs thought about the consumer from the first product he designed for Apple-- the Lisa. He demanded that it look more rounded to give it a “friendlier” look to appeal to consumers. The reason the iPhone was so successful was not because it was a smart phone-- in fact, the iPhone was far from the first. It was the importance Jobs put on design that made it the success that it is. Jobs took away what didn’t work about old smartphones (a large, plastic keyboard and a stylus) and designed a smartphone that makes sense to the consumer. All of the commands on an iPhone are done with the finger by swiping up, down, left, or right; or by tapping/pressing. These are all natural motions that make sense to the average consumer when looking at a touch screen phone. Because Jobs created a smart phone from the perspective of a consumer and by listening to the customer, he was successful.

Jobs also taught the importance of looking towards the future. One big example of this was him choosing to cannibalize the iPod. Jobs created the iPhone, which had a music player, knowing it would ruin the success of the iPod. He made this decision by looking to the future and thinking in the long run instead of just focusing on the present. Had Jobs been too caught up in the success of the iPod at the time, Apple would not be anywhere near as successful as it is today.

Finally, Jobs taught a lot about the importance of design. Jobs’ approach to design was always simplicity. From the logo, to the look of Apple products, Jobs believed that keeping designs simple made products seem more sleek, clean, and futuristic. This is clearly a tactic that has paid off, since people see Apple products as top-of-the-range. Also, Jobs not only focused on the external design of products, but on the internal design as well. There is a famous story of him calling one of his co-workers in the middle of the night because he was debating about what kind of screw should go on the inside of one of Apple’s products. When his co-worker said a customer would never see the inside so it didn’t matter, Jobs said that a product must be as beautiful on the inside as the out.

Steve Jobs is undeniably one of the most important innovators of all time. The lessons he taught about business and innovation are universal.

*For more insight to Jobs’ personal beliefs about life, I watched his Standford commencement speech. Read about that here.

#classsessions

Steve Jobs: Stanford Commencement Speech

watch/read the speech here

One video I watched was Steve Job’s commencement speech at the 2005 Standford graduation. It was a very inspiring speech about everything in life happening for a reason and living life with no regrets, which are two sentiments that I firmly believe in. This speech had many important takeaways that will hopefully stay with me for the rest of my life.

First, Jobs spoke being adopted and how he felt that set him up for a special life. This resonates with me because I was adopted, and I feel the same way. Adoption is a topic that isn’t spoken about much, and people don’t really understand the feelings adopted people go through all the time, so it was important for me to hear about it from someone as successful as Jobs. He then talked about how he dropped out of college and had times where he had no house or money. He took classes that were interesting to him but at the time seemed to have no real use. However, after looking back on these classes and on these difficult times in his life, he was able to connect the dots. Looking back, Jobs realized that the hardships and uncertainty that he faced in the past all came together to bring him success in the future. This idea of current hardships and uncertain paths being necessary to lead to a better future is very important to me.

The most important message Jobs shared was: “All external expectations, all pride, all fear of embarrassment or failure — these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose... There is no reason not to follow your heart.” This is so important because if you are doing a job that you hate for your entire life, there is no point. Yes, it is true that happiness is not constant, and that to get to your dream job you will certainly have other jobs you don’t like. But if you are not working hard towards a goal that will make you happy, then you are certainly wasting your life away. As cliché as it is, each of us only have a certain number of days. At a certain point, there is no changing what you have done in life, and I do not want to look back on a life full of regret and unhappiness. Jobs’ speech was very inspiring and uplifting. It reminded me to fight and work as hard as I can to achieve what I want.

#improvement

Design Thinking workshop // 11.07.16

The goal of this assignment was to create a prototype of an object that would make someone feel more “at home” in our own house. The constraints were that we could only use three materials and had five minutes. I came up with a motion-sensing sprayer that releases relaxing scents into the air whenever someone walks in. The remote can turn it on or off and also change the scent.

read about the design thinking class here

#classsessions

Fun at Hershey! // 09.25.16

read about my Hershey experience here

#classsessions #hersheypictures

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