By Dan Li
I’ve been working at 1871 throughout my internship for the summer, and it has more energy than I had imagined it would. With over a hundred startups in the community, I feel the same energy that everyone does. It has helped me become more productive, and it’s also a workplace where I can learn a lot of things from other startups.
During my work for Savvo Digital Sommelier, I have encountered two main tasks. One of them was market research on the all the retailers in the US and market research on all the competitors that are or could be a potential competitor to Savvo Digital Sommelier. I had to update most of the retailers, because it was out of date. On the other side, I also had to look for Savvo’s potential competitors, which were wine, beer, and dining apps. Apps also have been out of date, so I had to add the description, app store ratings, Facebook page information, and twitter page information. That was my main task for a couple of weeks.
The second main task for me to do was to find an exit strategy for Savvo. An exit strategy means that a startup would want to transition the ownership of a company to bigger company that would potentially buy Savvo. I have been looking for all sorts of companies that had similar acquisitions and have similar interests within Savvo’s norms. Company types included In Store Marketing companies, Online Wine and Beer communities, Coupon Companies, and Data Analytics companies. This was a very detail oriented task to finish, because the companies needed to be closely related to Savvo. Without a proper reason or similarity, there would be no reason why the companies would lean towards buying Savvo instead of other startups.
What I would like to learn more from this internship would be more skills that could be useful in the future. Research is important, especially if it needs to be precise and useful. What I am looking forward to even more is data analytics and research method skill sets that could benefit me in future jobs.
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