After listening to three pioneering guest speakers discuss entrepreneurship, I am now aware of the grit needed for success in the competitive Canadian market: as Paul Davidescu from Tangoo stated, “you must to be willing to work from 7am-11pm!” I am responding to Nick Tse’s blog post.

Nick Tse and I both believe that Tangoo is an innovative idea that can help indecisive people enjoy an evening out. Although Nick states the App is capable of planning quality nights, I question the ability of computers to generate cohesive evenings that are entertaining and reliable. Furthermore, Nick alluded to the lack of current profitability being an issue for Tangoo. I agree and am not convinced restaurants will be willing to pay for advertising on the App, since there are already ample existing marketing opportunities for restaurants and people expect advertising on social media to be free. Additionally, Paul has created his company with sweat-equity: if his employees are not receiving financial compensation for their work, they may develop a lack of intrinsic motivation

With regards to Naked Coconuts, Nick mentioned that the brand can attribute much of their success to their clear defined value propositions: their website states they stand for honesty and quality. Since the product is being outsourced and purchased offshore, this may negate one of Paul’s core values, as he cannot be aware of the quality of ingredients entering the product. He may also have trouble keeping up with the supplier’s factory conditions and ethics.Regardless of the notable internal issues, it is apparent the entrepreneurs that we listened to have bright futures and are going to be successful as they continue to transform their innovative business models and establish a clear brand image.

References:http://www.nakedcoconuts.com/