Finished Engagement hours report

6th-Semester-Spring-2024/EnI/Assignments/EngagementHours/engagemnt-hours.wiki

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+= Engagement Hours Notes =
+
+== CEO Club ProfTank (Thursday, February 8th, 2024) ==
+- Caught up on Byron's 3D printing business
+	- Has been going to shows to promote business
+	- Meeting lots of people
+	- Constantly exploring ways to expand and improve
+- Met other engineering students taking EnI
+	- Discussed target markets
+	- 
+== Aer Cosmetics Talk (Thursday, February 15th, 2024) ==
+- Paige DeAngelo shared her story about how she founded Aer Cosmetics
+	- Always had to figure out financial problems
+	- Had the idea after realizing that one of her biggest sources of waste was makeup
+	- Switched from studying meterology to entrepreneurship to pursue this idea
+- Aer Cosmetics progress
+	- Convinced professors to make working on Aer Cosmetics part of final projects
+	- GSEA startup idea competition
+	- Started as the first sustainable mascara, eventually competition started
+	- Competition makes you hone in on your target market
+	- Goal is line of sustainable cosmetics
+
+== Color Theory Workshop ==
+=== What is Color Psychology? ===
+How colors affect perceptions and behaviors
+Color-brand association
+=== 60-30-10 Rule ===
+- 60% primary color
+- 30% secondary colory
+- 10% accent color
+=== Consumer's Culture ===
+Different cultures have different perceptions of color
+
+== Make Teamwork Work ==
+*Group work*: working in a group of people on the same task
+*Team work*: creating an environment in which team member talents are facitlitated to achieve a common goal 
+=== Teamwork Activity ===
+*BOSS*: describe the vision and details of a design to the secretary
+*SECRETARY*: communicate the vision to the designer and relay questions to the boss
+*DESIGNER*: draw the design and ask questions based on verbal instructions from the secretary
+=== Key Takeaways ===
+- Everyone has different strengths
+- Different roles suit different people better
+
+
+== Lunch & Learn "Unnecessary Inventions" ==
+
+
+
+== Re-Investing Funds (Monday, March 25th, 2024) ==
+=== Fund Types ===
+- Prize money
+	- Don't have to give up equity
+- Grants
+- Profit
+- Self-funds
+	- Betting on yourself
+- Loans
+	- Usually have interest payments
+- Family & Friend borrowing
+
+=== Why is Re-Investing Important ===
+- Investors like to see you have skin in the game
+- Might not need to give up equity
+- Accelerate first to market strategy
+
+=== Where to Use Funds ===
+- Product Development
+	- Inventory for more sales
+	- Cash flow
+	- Improving products
+	- Professional packaging
+- Legal/Formation Fees
+	- IP protection
+	- Legal calls for advice
+	- LLC, Corporation, 501 C3, ...
+	- Contracts
+- Marketing
+	- Flyers, pens, magnets
+	- (Boosted) Social media ads
+	- SEO
+	- Conferences
+- Getting More Hands
+	- Fiverr/Upwork
+	- Compensation contracts based on performance
+	- Full time work
+	- Interns
+- Complimentary Products
+	- Cross sell to consumers
+	- Similar products in different industries
+
+
+
+== Thinking Outside the Box ==
+- Brainstormed in groups of 3/4 and 2/3 to come up with problem and solution statements for people that we may not relate to.
+
+=== Vlad the Vampire ===
+- *PROBLEM*: Vlad can't be in the sun without getting bad sunburn or risk dying
+- *SOLUTION*: Heavy duty sunscreen that blocks out all sunlight from reaching Vlad's skin 
+
+=== Frankie the Monster ===
+
+
+
+== Pitch Deck Workshop ==
+=== Common Components ===
+- Title
+- Problem
+	- Highlight problem through story
+- Solution
+- Market Size/Demand
+- Offer
+	- Competitor matrix
+- Team
+	- Founders
+	- Advisors
+- Milestones
+- Proof of Concept
+- Revenue Model
+	- B2C
+	- B2B
+	- Freemium
+- Projections
+- Use of Funds
+	- R&D
+	- Inventory/supply
+	- Re-investing
+	- Marketing
+- Call to action
+	- QR code to download app