The Biz Plan Project
My team and I worked well together overall on this quarter's business project. Jay, Michael, Tommie and I had a great time brainstorming together. Coming up with new ideas definitely seemed to be our strong suit for good and well.... Every time that we would get together to do the research and get the numbers down, we would inevitably end up adding more and more services for our company to provide and features for our app and wearable glasses technology to incorporate. It took conscious effort to bring it back and focus down on the details of our already complex company. I was reminded that trying to take on too much is not productive at all. We came up with some just plain cool ideas and features, but at some point it definitely took away from maximizing the time that we had to work on the project. Additionally, if we actually attempted to implement all of those pieces, I imagine that they would begin to inhibit the success of the company.
For example, we would say things like "what if the app and glasses also incorporated augmented reality games for the runner to play while in motion", or "what if we targeted other sports as well". Our company's app ORA (Optimal Running Assistant) would be a social running community, a means for controlling our Ghost Runner Glasses that project a holograph image of the runner's past times, generate routes and obstacles/challenge course based on the user's surroundings from map data in real time, and include a nutrition library with the ability to create nutrition plans. In short, we have a plethora of stuff going on already. This made the project a challenge because it was difficult to think about all aspects of our business model and implementation within our time frame.
keep it simple. don't get carried away. do the things that you do well.
I think a real tendency when starting a business to try to take on too much and do too many things with one company. We have seen a lot of new companies recently with very focused services or models being very successful. Of course we need companies with broad scope, but we need to be careful not to get carried away.