Random Musings and Critical Thinking

Digital Entrepreneurship - What have I learned from this class? 

I have to admit that I have not been excited by this class. As a Music Major, it seems that the kind of thought processes required to excel in the business field are antithetical to the artistically creative mind. I believe that history supports my claim. Another issue that confounds my understanding is my age. At 64, I haven't grown up with the technology even though I have learned to use some of it. It is not intuitive. I do know others my age that seem to have a good grasp and use technology very well. However, I am also one that prefers the older ways of doing things without modern conveniences. You know, honest labor. I find it usually yields a better product and greater satisfaction of a job well done. So, what I have learned is that I do not look forward to emerging technology. I will more than likely be avoiding situations that require my involvement. I hope to be able to influence people to take a step back and remove themselves from the digital world before they become so dependent that they give up their liberty. In this regard, I have a lot of work to do!

Digital Entrepreneurship Question: What is the biggest failure that you’ve encountered to date? What did you learn from that experience?  

With 64 years to draw from, I could post some real doosies! I am going to draw the line at family dynamics, finances, and interaction with the Federal Government. However, I will describe a circumstance that was particularly frustrating and that fostered some personal growth.

A few years ago, I was employed by MiraCosta College as an accompanist. While I was functioning above that level in practice, I was not eligible for any other position as I did not have a college degree. So, I enrolled as a Music Performance major. With 35 years in the music business, I was doing very well. I had already taken the bulk of my GE classes years ago at San Diego City College but had withdrawn due to the demands of my performance schedule. My goal was to earn an Associate of Arts degree, then transfer to a university to complete a BM which is what I am doing now. 

I was one of two trumpet majors at MCC. Due to my level of proficiency and experience, the college was most gracious to procure the services of LA based trumpeter Mike Rocha as my applied teacher. I enjoyed working with Mike, and he helped me expand the application of my talents. At his suggestion, I had switched to a smaller mouthpiece. My first jury was approaching, and I was still adjusting to the new mouthpiece. I had been using something in the .670 of an inch diameter. The new mpc was .630. For those not familiar, the largest trumpet mpc is not quite 1" in diameter. At that scale, .04 is considerable. 

The night before my jury, I had a 3-hour Latin gig on trombone that was a high energy blow. I woke up to swollen, puffy chops. I spent the morning trying to gain fine control sensitivity on trumpet, but it was not happening. I was otherwise well prepared for my 10am jury, but I sounded like a beginner! I fluffed and fracked through the rudiments as I was faced with startled and confused looks from the panel. I give total respect to the lead professor who showed me no mercy. He was ruthless in his critique. I struggled through a couple of jazz tunes where I was unable to execute any real artistry. To close the ordeal, I was able to pull it together to convincingly perform my transcription of Harry James' famous Sing, Sing, Sing solo along with the recording. Even so, I left with head hanging low.

I learned a big lesson that day - to identify what is most important and not compromise an opportunity. I should not have taken the gig the night before. I did not place proper importance on the jury, and I disrespected myself, my professors, and my goal. Ever since, I have kept my eye on the prize, and I look forward to graduating this month!

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Digital Facebook Ad 

Well, I put it off until the last day...

It was easier than I thought it would be. I paid the $5 for 1 day of advertising. One benefit is that now I have a separate FB page for my business. I plan on posting a picture of my ad once a week or so. I have not yet received any data on my actual ad, so I will have to post an update here when that happens. I think this came out rather well:

What do I hope to accomplish professionally in the next 10 years, 20 years, and 30 years? 

These are interesting questions at my age. I can see 10 years. Within 10 years I hope to have a job teaching music. I also have never released an album of my own, even though I have been on many. I am just beginning as a firearms instructor and hope to develop a consistent flow of clients. I continue to write music and arrangements, and plan on marketing them. 

20 years? Well, I am currently a fit and virile 64-year-old, so I can hope for 84! There is longevity in my family, and I have gone above and beyond with dedication to my health. Professionally, I hope to keep on keepin’ on with what I’m doing. 

30 years? I’ll be 94. Doc Severinsen is 95 and still playing the trumpet. In 30 years, I hope to be alive God willing and playing music, living on the land, and enjoying my family. I hope to continue to mentor young people.

Do you want to start a business one day? Why or why not?  

Oops! Looks like I missed posting this for 2/16. Well, I have a few ideas for a business I would like to develop. I have already run a fairly successful business as a music teacher giving lessons to individual students. I have also run weekly summer music workshops. Since moving to Ohio and the onslaught of the plandemic, I have not been able to resume this venture. I am putting ideas together for a web-based business that also involves learning a craft. My reasons are two-fold: I see room in the market, and it gives me impetus to learn a craft I’ve always wanted to learn. Never too old!

Hypothetical Investment - Blue Apron 

If I had one million dollars to invest and given the choice between investing in either Blue Apron or Lime Scooters, I would choose Blue Apron. My decision is based on the company’s business model as it applies to the challenges that people have faced in the past 2 years dealing with the pandemic. People have been conditioned to do more from home. Many local restaurants have closed for various pandemic related issues. One positive outcome is that households are having meals together and experimenting with menus and preparing food together. This is where Blue Apron fills a niche. 

                A good business model tells a story. The story begins with a value proposition. Blue Apron’s appeal is to the generation of people who don’t really cook. So many households are comprised of parents that both work, and children who are at school all day. Fast food, take out, and quick heat and serve dishes are what keeps their busy schedules operating smoothly. Since the pandemic sent everyone home, many now have the time but not the knowledge to prepare meals at home. Shopping is also a difficult affair. The problem is solved by Blue Apron who sends the ingredients for meals right to the front door. Families can enjoy time together learning to cook from expert prepared recipes and eat the results of their labor. The value added is in the variety of recipes within several menu types, and that everything needed to craft the meal is included. The ingredients are of high quality and ethically sourced, putting Blue Apron ahead of its competitors. 

                The method of revenue generation is through subscription. This helps to retain a customer base. Customers are allowed to skip meals within their delivery schedule, making it less likely they will terminate. The costs of running this operation include the fixed upfront costs of the distribution hubs, and the variable costs of raw material supplies. These variable costs are scalable, and as Blue Apron is dedicated to sourcing from small ethical producers there is potential for exclusivity. 

                One problem in the business model is the means of customer acquisition. Blue Apron has spent modestly on advertising, relying more on the free promotions and discounts. When it comes time for customers to pay full price, they cancel. However, when Blue Apron did increase its marketing budget, customer acquisition and retention went up considerably. If Blue Apron was to market to the demographic that appreciates the ethical sourcing of ingredients, it should experience continued growth and sustainability of its customer base. Blue Apron’s current delivery method is by Fedex. This adds $10 to the cost of each meal. Due to the intricacies of shipping perishables, I don’t see Blue Apron developing an in house delivery system. 

                In conclusion, my hypothetical one million dollar investment in Blue Apron should yield growth and generate a return if the money is spent on marketing. The business model is solid except in the area of customer acquisition and retention. It has already been shown that investment in marketing yields greater acquisition numbers. As I expect the trend of home based activities to continue, I see this as a profitable investment.

Digital Entrepreneurship 

As everyone can see, my website is dedicated to who I am. My reason for taking DE at UC is that it is a required course for BM. I hope to gain the required credits to satisfy the requirement, while also learning about Digital Entrepreneurship.