When creating the idea for I Love Reading app, I was in my own Kindergarten classroom marking Home Reading Journals. I had no way of assessing if the students were actually doing their home reading with their parents, or if their parents were simply reading to them, or worse, just checking off that they did the work, when they didn’t. Keeping in mind how busy families are afterschool, sometimes nightly reading is not the priority. Because of this problem, I wanted to create a solution that was easy, clear, and direct for students, parents, and teachers, to work together to solve this issue.
I decided to invent an already successful company I Love Reading. I liked the idea of a successful company looking for investors to expand into other markets. It is an exciting time when a company is expanding and I knew this enthusiasm would be reflected into my venture pitch. Investors in Series A funding may feel more comfortable placing their money into a company that already has a profit, is growing, and is successful.
There are already successful electronic reading programs on the market, but they are expensive, not easy for parents and students to access, and not individualized to the student. I Love Reading is not asking for a specific amount of a primary investor because the company already has two successful companies working together under the direction of myself, the CEO. The inability to steer the direction of the company may be problematic for some investors that want to impart their expertise to the company. I Love Reading has a clear and direct future vision and are not willing to compromise.
I Love Reading is the only individualized home reading app on the market. With the student taking the pretest before beginning the program, the books, quizzes, and rewards are all individualized to their academic and social interests. Whenever a product is individualized, the user not only feels special, but also feels empowered to continue using their “one of a kind” program. I believe that the I Love Reading app will continue to grow and be a successful app in the education technology field as it grows to more countries and languages.
As a non-business person looking at creating a new product, I wanted to incorporate something that I am passionate about to create a product that could benefit my very own students’ lives. Literacy is something that I am truly passionate about, and creating something that could benefit my student’s literacy development was the larger goal. Assignment 1 taught me that If you want to be successful in business and as an entrepreneur, you have to take your passion and run with it.
Working through Assignment 1, and seeing the challenges that the Kopf brother’s faced when creating their company including- developing a vision and business idea, assembling their business team, raising capital for their business, finding the right business location, finding good employees, finding good customers, deciding how to monetize, among others. All of the lessons I reflected on when creating this assignment. Assignment 3 helped me to better understand what it takes to be a successful entrepreneur. Maybe one day my “hypothetical” I Love Reading app could be an app that forever helps children integrate technology and reading in effective ways!
-Kat
I decided to invent an already successful company I Love Reading. I liked the idea of a successful company looking for investors to expand into other markets. It is an exciting time when a company is expanding and I knew this enthusiasm would be reflected into my venture pitch. Investors in Series A funding may feel more comfortable placing their money into a company that already has a profit, is growing, and is successful.
There are already successful electronic reading programs on the market, but they are expensive, not easy for parents and students to access, and not individualized to the student. I Love Reading is not asking for a specific amount of a primary investor because the company already has two successful companies working together under the direction of myself, the CEO. The inability to steer the direction of the company may be problematic for some investors that want to impart their expertise to the company. I Love Reading has a clear and direct future vision and are not willing to compromise.
I Love Reading is the only individualized home reading app on the market. With the student taking the pretest before beginning the program, the books, quizzes, and rewards are all individualized to their academic and social interests. Whenever a product is individualized, the user not only feels special, but also feels empowered to continue using their “one of a kind” program. I believe that the I Love Reading app will continue to grow and be a successful app in the education technology field as it grows to more countries and languages.
As a non-business person looking at creating a new product, I wanted to incorporate something that I am passionate about to create a product that could benefit my very own students’ lives. Literacy is something that I am truly passionate about, and creating something that could benefit my student’s literacy development was the larger goal. Assignment 1 taught me that If you want to be successful in business and as an entrepreneur, you have to take your passion and run with it.
Working through Assignment 1, and seeing the challenges that the Kopf brother’s faced when creating their company including- developing a vision and business idea, assembling their business team, raising capital for their business, finding the right business location, finding good employees, finding good customers, deciding how to monetize, among others. All of the lessons I reflected on when creating this assignment. Assignment 3 helped me to better understand what it takes to be a successful entrepreneur. Maybe one day my “hypothetical” I Love Reading app could be an app that forever helps children integrate technology and reading in effective ways!
-Kat