Week 3: Reviewing Business Plan

One interesting thing I learned from writing the report was the levels of formality. Having writing in third person was a surprise to me. As for receiving feedback it helped in confirming the points I needed to improve. An example being the lengths of my paragraphs. I had one extremely long one and was almost sure that it was too long but was tempted just to leave it in because it was detailed. I changed my mind after my partner noted one of the biggest things needing changing was that exact paragraph. As for reviewing other work I picked up a lot of things that I could improve in my own such as consistency, formatting and conciseness.

One successful business was a startup that created LIFX, a long lasting, color changeable light bulb that could be programmed. It was successful because it introduced a new idea to how we thought about such an old product. It also followed the ‘internet of things’ trend which can be spotted in products that just have ‘smart’ tacked on the front of its name. Ignoring the fact that this was successful Kickstarted I personally think it would’ve been invested in either way. It was such an innovative and practical idea that a lot of other companies have already tried copying the idea.