I have three business ideas, however they are not correlated with each other.

1) Based on the urban regime in Camden and the policy incentives, I want to open an upscale coffee shop in the city of Camden. I don’t understand why there’s no decent coffee shop in this area, given that there are so many professionals working every day in the waterfront/downtown areas. I am really picky about coffee and not a big fan of Starbucks. They just made burnt coffee. If this city want to revitalize there are plenty ways and revitalizing through building upscale coffee shops, restaurants, and entertaining infrastructures is a conventional wisdom. 2) (this might be an innovative idea) I admire the idea of successful marriage between technology and social media, and I want to take that idea and start from GIS function. I use Yelp every time when I explore a new city/place for good coffee shop, restaurant etc. however, Yelp just have single function, that said, it allows me to do one search at one time. If I want to find a best place to have my afternoon tea (coffee and cheesecake), I have no reference. Yelp allows me to search by coffee or cheesecake.

So, my idea is to multiply GIS’s functions by introducing an app like Yelp that accommodates overlapping geographic identifiers. With this app people will easily pinpoint place that they’d like to go, even abroad. i.e.(beer+soccer+group)

3) purely social networking via social media. Enlightened by the idea of AirBnB, which is a model that combines airbed and breakfast, people invite others into their house, accommodate bed and breakfast to make money, Why not do something similar with AirBnB, like inviting people in the neighborhoods or a residential hall to your place for party. (Stranger party/salon) through this platform people can get know more about their “talented” neighbors and will have more slips on social capital. Probably your neighbor is a high-tech know-how, or an interior designer or in any lines of cool jobs that you might want to collaborate with them some day. Besides, you can establish a building/community/neighborhood link through which one can share resources with others incumbents.

There are a few useful traits Jacobs exhibit as an entrepreneur: 1) He catches idea from everyday living with an aim to improve the inconvenience. That said, he is good at detecting the “gap” in business world and making money out of the “gap”. His business idea emerges from combining running with technology in a way to integrate the hardware devices with a Web-based platform that provides health and fitness related service. 2) He doesn’t mind reaching out to other like-minded people and sharing his idea with them at the initial phase of his business, instead of letting the idea sink or excluding people from stealing it. In this move he is able to reorient his idea to tap into IPhone app store. He built his team around two developers and three part-time developers. This mixed structure works well. 3) He wants to take risks. He collaborates with part-time employees who might not deliver things on time, but fortunately they did. 4) He knows how to get some more exposure to his product. He ran the 2008 Boston Marathon dressed as an IPhone, and periodically posted on Twitter as he ran, willing to draw attention to RunKeeper and the IPhone app store and got a front page story in the New York Times. 5) He is savvy in business models. His freemium business model wins a high retention rate. The model is free downloading and paid premium service. 6) He knows how to utilize the power of social media. Runkeeper has a device that allows people to share their recent “run-doing” on their social media portals. Thus, more and more people are found of this application. 7) Set room to improve. He is open to any sports that are fitness and health related.
In my opinion I think Jacobs is doing great, and has the potential to build a billion-dollar company since from day one he was clear about the expanding directions and prepared the momentum for that direction. He was clear that selling apps has the limitation so he is open to change and innovative in a sense that hope to change the way people interact with their health.