Week 15 Reading Reflection

I think that the most surprising thing in this weeks reading was that microfinance was so profitable, especially in lower income countries. The thing that I found confusing was the same thing that surprised me. I don't completely understand how they are so successful when their clients have no money.  If I could ask the author anything it would be 1) Do you think that providing small loans to the poor is ethical? 2) Does he see potential in other countries with similar markets? I don't think the author was wrong about anything this week. I think it was pretty straight forward in explaining the concept of this business.

Final Reflection

This semester was pretty hectic because of this class. That isn't to say it was a negative experience just that it was tough to balance a class that requires so much attention with other classes as well. I think the most memorable assignment I did was interviewing strangers about something they may need. It's just purely awkward to do something like that. I think what I was most proud of this semester wasn't specifically an assignment, but the ability to crank out assignments every week for this class and still finding time to study for important exams in other classes.

I honestly do not see myself as an entrepreneur because I haven't accomplished anything outside of a school setting. On the other hand, I definitely believe that I have developed an entrepreneurial mindset through all of the exercises we have done and through listening to the lectures. So even though I don't see myself as an entrepreneur yet, I believe that I possess all the tools needed in order to be successful when I do take that step.

If I were to make a suggestion to any future student going down this path in the future, I would tell them to stay motivated and enthusiastic towards this journey. It is important to stay on top of all your assignments because the points add up fast and the only way to do this is to keep a positive attitude and mindset every single week. This will not only help in this class, but in everything you attempt in life.

Venture Concept No. 2

1) Here is a link to my first venture concept so you don't have to figure out where it ends and this begins. http://blogforclass3191.blogspot.com/2016/03/venture-concept-no1.html

2) Provide a summary of the feedback you received from your previous venture concept description. 

The feedback I was received was minimally helpful unfortunately. You can tell by reading a lot of comments that the person who posted did not take time to read what I had written because most assume that I am inventing the product or building a knockoff version, when time and time again I have made it very clear in everything that I have written, that I only plan to distribute the existing product. As far as helpful feedback goes, it has been mentioned that I may have more competition than originally. This person had pointed out that my competition would extend further than people doing the same thing and would also incorporate other similar products. I will have to keep this in mind in the future. I was also told that people may not want the product I am selling, but is that not a risk associated with every one of our ventures?

3) Describe how you changed your venture concept, based on what you learned from the feedback.

There won't be much changed with my business venture as it is fairly simple and short term in nature. However, I will have to recognize that there may be more competition out there in the forms of product and other people attempting the same venture. I will also have to look into the legality of how this is done more, so that I can execute my plan and get out in a few years without any legal troubles. As far as my venture concept goes, it will remain the same but I will be mentally aware of more possible obstacles.

Week 14 Reading Reflection

The most surprising thing in the reading this week to me was the code of ethics for businesses. If it exists, then it makes you wonder why there are so many scandals in business today. I think that it would be easy to make the ethical choice for me, but I do understand the pressures that would make someone else do otherwise. Nothing was too confusing this week because it was based on material that is covered in a few other business courses. It was just a little more in depth than the other courses have gone. If I could ask any two questions, they would be 1) What does the author think is the largest factor in some businesses behaving ethically and others not behaving ethically? 2) How large of a role does ethics play in the different stages of an entrepreneur doing what he is trying to do? Also, I don't believe the author is wrong about anything in this reading because like I had stated earlier, the material matches up parallel to what I have read in other classes.

Google Gold

A discussion of your general approach and strategy to search engine optimization (SEO). What were some of the activities you did for each blog post to pursue SEO?
At the beginning of this class I started to post assignments on a blog I had also created for this class. Search Engine Optimization (SEO) is a process that shows the most relevant to a person's search. I wrote what I would consider quality assignment work in the hopes that it would be more appealing to other people to read. By doing this I was hoping that my blog would show up higher on search results.

What were your keywords. How did you select those keywords? Did you change or refine your keywords through the semester?
In general I never really thought about the keywords that I was using. I followed the directions in creating a title for all of my posts and used label to keep track of which week I had done an assignment. I guess there were keywords throughout my writing that I unknowingly repeated, like entrepreneur and entrepreneurship. I never really consider changing my strategy throughout the entirety of the class.

How did you use social media to enhance your SEO efforts? What were your surprises or general impression of using social media to improve your blog's profile? Was social media generally receptive of your blog, or did it get ignored?
I did not share my blog on my personal social media accounts. However, I did leave a link to my blog on every comment I posted to someone else's blog. If I had posted on my social media about my blog, I have a feeling that I would've been surprised by just how much more traffic it would have received. I can appreciate how using every aspect to expose your venture to the public can be beneficial, especially if it's a platform as large as social media.

What was your most "viral" post? In other words, which post obtained the most traffic? Why do you think?
My most viral post was my second elevator pitch. I think it was the most popular because it was executed fairly well and allowed people to see an example of a good elevator pitch. I dressed business casual and didn't read off a sheet of paper, instead I memorized my pitch. This caused it to come together nicely.

Finally, did you make it to the first page of Google results for your keywords? If not, what page of results did you make it to?
Unfortunately I did not make it to the first page using a keyword search. I was around page 7 I believe. BUT if I search Google for "blogs for ent3003" I am in fact on the first page!

Very Short Interview With Entrepreneur Part 2

When I did my first interview it was with Robert Norton. He is a friend and business acquaintance of my step father. Robert has owned and run his own business which does independent claims adjusting for over 10 years now.

The 3 questions that I asked him were:
                1) What does it mean to you to be an entrepreneur?
                2) What do you think that I should learn from my entrepreneurship course?
                3) What is something that you wish you had learned in school before setting out as an                                entrepreneur?

Looking back from where I stand now, that initial interview has some pretty good advice in it. In one way or another, he had covered a few key concepts from this class like creating a venture concept, identifying an opportunity and even social networking. I feel that after going through this class I understand the points he was trying to get across a lot better.

This time around

This time when I called Robert I asked three different questions.

1) What was your motivation for leaving the larger corporations to start your own independent service?
- It was a lot of things, I wanted independence to work on my time and I have a family so I'm always trying to do the absolute most for them. I realized there was an opportunity to do insurance referee work independently and the money was there so the rest is history.

2)What are some sacrifices you had to make to be successful?
- I had to spend a lot of time working well past when someone with a 9-5 would stop. For the first few years I worked till almost 9pm every night, even weekends cause I had to build clientele and a reputation, which meant taking more clients than I could handle most of the time. Even now when I have a large claim it requires more of my time than usual.

3) What would you like to see your business turn into?
- Well, right now it's just me and I do a lot of large claims with a couple other independent guys. The only thing that can change in a business like this is you level of clientele. I do claims on houses worth a few million dollars right now but there's still room to move up to higher end homes and hotels.

I don't know if he had a sense of me progressing in this journey but the interview was more comfortable and felt much more casual than the first time around. I feel like he wasn't trying to give me professional answers but just honest ones.

Week 13 Reading Reflection

The most interesting thing I found in the reading this week was just how much went in to the valuation of a business and how important it is even past buying one. I think overall this chapter was not very confusing but they didn't give a reason on how people try to avoid certain costs specific to a start-up. I think that I would ask the author if he had a favorite method of valuation and what are the most difficult parts of buying a business or selling a business. This chapter was pretty informative and I can't say that I disagree with anything the author said.

Celebrating Failure

A time I failed this semester
This semester I failed pretty badly on an exam in one of my classes. I did so well on the first exam that I ended up fooling myself into a false sense of confidence when the second exam came around. The entire time leading up to this exam I was out drinking and putting off my responsibilities. I clearly did not study enough and was completely defeated after taking the exam. I knew I had screwed up.

What I learned from it
I learned that I lost sight of the truth in that everything in school is earned through hard work. When I failed to put in the hard work like I had previously with the first exam the second result was drastically different. In fact, I have already started studying for the next exam a few weeks ahead of when I normally would.

Reflection about failure
Failure is a hard pill to swallow. Usually after I fail at something I get very stressed out but try to take my mind of of whatever it is for the rest of the day. After a sleeping it of I usually reflect on what I have to do now to continue forward with what I am attempting to do. I was already okay with taking risks to further myself but after taking this class I think that I am even more likely to take risks. This class has shown how much can be learned only through failure.

My Exit Strategy

1) The exit strategy that I plan to make is to sell the company to a potential buyer or liquidate all of the company's assets most likely within the next 5 years. Keeping this business going is pretty risky because it is based on a current fad and I personally don't see it lasting past that time.

2) I selected this exit strategy because it is risky to keep a business going when it is based on a short lived fad. I think that I would be able to make money quickly and then get out before it collapses.

3) My exit strategy has affected how I see opportunity because initially I was looking at only inventing things as opportunities. It has also affected the way I acquire resources and how the company is structured. It has made me want to create an environment around minimalism to keep expenses low.

Week 12 Reading Reflection

I think this week the part of the reading that surprised me more than the rest of it was the how many company's don't have sufficient strategic planning. I always believed that strategic planning was a necessity for a company at the higher levels of doing business. It's important for the company to know where it wants to go. The part that is a little confusing to me was the two different mindsets. This was confusing because I saw very little difference between them actually. If I could ask the author any question it would be for him to explain the two different mindsets and how they differ from each other a little bit better. I'd also ask if their is a "better" strategic process better than the others. I don't believe that the author was wrong about anything but their are a lot of contradicting theories in this chapter.

Venture Concept No.1

The opportunity of my venture is an unmet need of many golfers or people interested in starting to play golf who seek to make the game more interesting or wish to play faster at their own pace or even the organizations that seek to preserve their grass for as long as possible.  Golf is time consuming and expensive sport for both the customers and for the owners and operators of the facilities. The golf board is a more efficient and interesting way to play that also has the potential to draw new customers to the game.

Opportunity

One of the biggest forces in creating the environment for this opportunity is the constant innovation in this sport. The technology of everything in golf is ever evolving to find more efficient ways to play the game. For example, golf clubs with new technology are introduced to the market every single year and people who play recreationally are now using range finders and course gps systems that allow them to play more accurately. This market geographically is defined by anywhere there is a golf course, which spans almost anywhere in the world. I believe that living in Florida is a great advantage though because of the extremely high concentration of golf courses from Jacksonville to Orlando to the south Florida areas. The only current way to satisfy this need is by using a golf cart or by going to the very few courses that offer what I am. The whole point of this venture is that there really is not many ways to satisfy this need already and golfers are always excited by new products and new technology to hit the market that are related to the sport. I think that this opportunity in moderately big and will take a lot of hard work but with only a few courses offering this product so far I think that I would be able to make a big presence in the market. I don’t think this opportunity will last for more than a few years because the rate of turnover for new technology in this specific corner of the market is extremely high so it’s important to strike while the iron is hot.

Innovation

What makes my venture innovative is the product itself and the fact that nobody has taken it upon themselves to distribute this great product on a large scale. The product is an electronically powered board designed to act as a way to get around the golf course at a more efficient pace that a golf cart. The board is easy to balance on and can hold your clubs for you while you steer by turning a handle or for more adventurist users, by leaning like using a skateboard or snowboard when you choose to remove the handle. This product is easier to maintain than traditional golf carts, more efficient at holding a battery charge and much less destructive to the course due to the large difference in weight. My service will be the ability to sell and distribute these on a large scale. There are already people doing this but on a small scale basis and the product has not reached a large majority of courses and is not widely known to exist yet. My customers are primarily the courses themselves but driven by the demands of their customers, the golfers. Simply put, I would be distributing an existing product for a profit to a client base that has a need for it that has not yet been met.

Venture Concept

I think that the customers of the golf courses will be intrigued by how different and new this concept is. I believe that everyone has at least one small something to gain by switching over to the golf board even if it is just occasionally for reasons that I listed in the innovative part of my venture concept. I also believe that it will not be hard at all to draw interest and get people to try the product based soley on their intrigue. The only competition that I have right now for this specific product are the distributors that are attempting what I wish to right now.  They have failed to sell this product on a large scale most likely based on the lack of knowledge around this product. I think that by showcasing the product more at trade shows and events will lead me to more success than they have had.  Considering that I am going to mainly be distributing, I would say that is the most important role in my business concept. However, I do believe that the customer experience and especially the location play a large role in my ability to showcase and sell the product. Having better logistics than the competition will allow me to make promises on price and timing that the competition is unable to match. Being in Florida will help immensely as well since I will be near my customer base. My company would have only as many employees as it needed to complete a specific role. I don’t have an exact number of employees but I would certainly like to keep it to a minimum as required. I think that efficient and proactive logistics team who consistently improve speed and price and people who are adept at selling is key. I would want a team of people who are able to ensure the quality of every product we sell.

1. The one thing that will make it hard for competitors to copy my success would be the pre-existing network of golf course professionals that I have developed over the years of working in the industry and having family work in the industry. This network is extensive and can help immensely.

2. The next thing for this venture would be to distribute this product to individuals for personal use or organizations that need to have a device that allows them to be highly mobile on an individual basis.

3. After this venture loses steam, I would like to “cash out” and pursue other interest. Golf is a quick changing market and is risky to stay in for the long run due to an ability to keep up. I think that having a wide variety of opportunities in different markets is the way to go.

Week 11 Reading Reflection

The part of the reading this week that surprised me the most was that there was so much that went into being innovative and what makes a company be considered innovative. Things along the lines of synergy and the different strategies involved. I was a little confused by the concept of creating value. I thought he was trying to emphasize the outcome of innovation instead of the process itself right there. If I could ask the author anything it would be if he thinks a company would fail if it focused on the wrong innovations and I'd also ask if there is a certain type of innovation that has been the most successful historically. I don't disagree with anything that the author wrote this week but some of the stuff in this weeks reading was either too simplified or a little confusing.

Amazon Whisperer

The way I can generate revenue and turn a profit would be through the marginal increase in the price of the product I am distributing. Another option could be that I receive a percentage of the price for being a middle man of sorts between the customer and the company that makes the product. I think that the next thing that I would offer to my customers would be something that could improve the enjoyment of the golf board or the golf cart in general. Perhaps, some kind of built in radio or bluetooth system. I think that this would appeal to many customers, especially the one's that are already loyal. Most costumers that enjoy playing golf with music have to bring their own portable speakers. Not only would they have to remember to bring it but they'd have to remember to charge it as well and I've found countless speakers like that in the lost and found because they are easily forgotten.

This is an in dash golf cart stereo. It is close but not exactly what I am looking to be my next thing. Most people find this product to be a major convenience when using their golf carts. I also saw several reviews that state that they wish it had a blue tooth function so they could connect their phones. I think that the changes I'd make to this product would be adding the bluetooth that customers wanted and I think that I would make it smaller and more easily able to be installed. I think that doing this would make my current customers happier because most people don't own their own golf carts so getting this into all carts would make them happier and give them options while they play leisurely.

My Unfair Advantage

1. Social Capital
V- It will allow me access to specific networks that can help achieve my goal
R- It is fairly rare but not something that only I will have
I- It shouldn't be too hard to replicate but I believe timing can come into play
N- There are other resources that can help in the same way but not as well

2. Financial Capital
V- Valuable because it will allow me to finance my venture
R- My specific financial capital is a very rare thing that few have the opportunity of
I- hard to replicate the type of financial capital I have access to
N- There are other sources to receive capital but never in the same way

3.Human Capital
V-It is valuable because it is the accumulation of my skills and experiences.
R- It is rare because my experiences that built it are uniquely mine
I- It is completely able to be replicated but extremely unlikely
N- There is no other resources to create the human capital I have

4.Connections
V- Connections made with others can assist and support you along the way in your venture
R- Mine is very rare and stems from family, industry friends, and organizations that further the development and standing of each other
I- It can be replicated but some of the connections I have are very exclusive
N- There are other resources to build similar connections but none better than I have

5.Education
V- It's valuable in developing a wide range of knowledge and practices
R- It is not as rare as other things because many attend college
I- Can easily be replicated at many universities in the country
N- There are plenty of resources to build the same knowledge, like on the job experience

6.Leadership
V- Having the ability to lead is important in delegating, motivating and spending your time wisely
R- My leadership ability is rare and come directly from experience outside civilian life
I- It can be replicated by being put in similar positions and many have adapted the experience successfully
N- The is an unlimited amount of sources to develop leadership skills

7.Knowledge of the Industry
V- It is valuable to know as much as you can about the industry you plan to conduct business in
R- It is not rare in this case because many people are involved with the golf industry
I - Can easily be replicated by anyone who takes an interests an inserts themselves into it
N- There are several ways to learn about the golf industry or distributing goods

8.Organizational Culture(allowing employees to self-govern)
V- It can allow employees to make decisions and make the logistics move faster
R- It is still a rare culture but more and more companies are placing trust with it's employees
I- Can easily be replicated by anyone with an open mind
N- There are several ways to structure a company where employees have a say

9.Logistics
V-Valuable because it is essential knowledge in order for a distributing business to operate properly
R-Not rare but necessary
I-It is pretty hard to replicate logistics because of how many factors there are involved
N-This is something that has many resources in many different aspects, each with it's own advantage

10.Competition
V-Knowing that there is some competition out there gives me something to analyze and see where they can improve
R-It's a fairly common opportunity that many take advantage of when entering a market
I- It's easily replicated by anyone who looks at the competitions practice
N-There are a few resources from financial aspects to social ones to look at

After doing a VRIN for every one of the 10 resources that I find valuable, I would say that my top resource would be my human capital. It is the most unique and least likely to be copied or imitated by anyone or any business. My experiences make me the top resource for any future business venture I may take on. I definitely trust myself to do what I need to do to get the job done.

Week 10 Reading Reflection

Nothing in this chapter was very confusing. I don't think anyone would be surprised to know that pricing and other numerical values play such an important role in the aspect that this chapter lays out. It is obvious that running a business is very expensive and takes commitment. I wouldn't say that anything confused me, but that would be mainly because the chapter was written in a way that allowed me to understand it well enough. It could of easily been bad if the chapter was written poorly. I would ask the author if he thinks you need at the very least an understanding of accounting practices to be successful in starting a new business. I also ask him that if he answered no then how do they proceed past this metaphorical bridge. I wouldn't say I disagree about anything but I think that forecasting plays a role for a lot of industries that he may have overlooked.

Growing My Social Capital

The first person I contacted was Carlos Castro. He is the general manager at a golf course in south Florida and has already implemented the use of the product I wish to distribute at his golf course. I am using him to fill my slot for a market expert because he not only knows about the market for golf courses but also the market need for the product. The way I found him was pretty easy and straight forward. He is an acquaintance of a friend of mine who gave me his number and a told him I would be calling. When I called him he was very friendly and I told him about the class and how I chose to focus on the product he uses at his course. He told me about people being excited to use them when he had gotten them there and that he thinks other courses would probably benefit from them as well. He didn't want anything in exchange from me as he was happy to talk to me about this. I think that his experience and extended network of other people in his position would be able to help me develop clientele for what I am offering.

The second person I contacted was Flynt Lincoln. He is a distributor that is sponsored by the company that makes the golf board. I am using Flynt in the slot for domain expert because he is already doing what I wish to do. I was actually able to find this person through the first person I contacted. Carlos had given me Flynt's number and told me that I should also call him because he is the person who sold him the product. Being on the business side I didn't expect much information from him as he is obviously busy running his business (something I learned from past attempts in this class). I was right but did tell a little bit about the process he goes through when selling to the different courses in the area. He didn't want anything from me either but I could tell he was a bit in a hurry to get off the phone with me. I think his knowledge of the process of contacting selling and gauging interest in the product would give me an idea of what I have to do in a similar position.

Lastly I contacted a man named Ross Kranz. He is a company representative who also distributes but works more with the actual company that developed the board. I'm using Ross as the supply expert because he works directly with the company that supplies the boards to the distributors. It took me a while to find this person as I tried to find contacts through all of the company's social media and website but finally after a couple contacts with their costumer service I was able to find a contact, He too was busy but was happy to explain how he more or less just fills orders from distributors instead of shipping them before they are sold. I think that by including Ross in my network I would already have the contact I need to the supplier of my business.

This is the first time I targeted people who play a specific role in any industry. I generally just meet people in an industry I'm interested in and don't think too much on the specific role that they play. I see the benefit of doing this so in the future it's definitely something that I will think about when at events or contacting people and maybe focus on adding people to my network that directly benefit some venture.

Week 9 Reading Reflection

One thing that I found more interesting than the rest was the factors that inhibit marketing. I don't believe people think on these types of things too often and it ends ups biting them in the rear. I actually wasn't too confused about anything in this chapter. I think it may stem from being a person who grew up around technology and during the surge of social media, but I have a pretty decent understanding of this type of stuff. If I could ask the author anything it would be if there was a "best" method for marketing? The author made it seem pretty simple mostly by outlining different methods. I don't necessarily disagree with anything in this chapter because it was pretty philosophical about marketing but I think that generalizing like the author, does leave room for criticism from some.

My Secret Sauce

1)      I have unique experiences that many never have or will have the ability to experience. This comes from me being in the military and experiencing not only new places but a lifestyle that many will never live, like being deployed to Iraq for a year.

2)      Many things stem from the first thing that I listed as human capital such as communication skills. I had to learn to deal and speak with the locals on a daily basis while having minimum knowledge of their culture. Speaking to people in way that makes them feel comfortable is very hard to do and I am able to do it.

3)      I have the discipline to do almost any job. This spans from sitting at a computer screen for hours at a time to making hard decisions like firing someone when they aren’t meeting a standard. I believe that many people today lack discipline which is why it is unique.

4)      I am very proficient at problem solving as well. I have a very analytical mind and can separate fact and emotion in order to come to a conclusion and fix many problems. I am also good at working in a team to accomplish the same goal.

5)      Last but not least, I am very personable. I am friendly, outgoing and can strike up a conversation with anyone. I think this is a rare trait in any business and certainly plays a major role in the success of many people.

Interview 1) The first person I spoke with about my human capital told me that I was a very serious person at times and am able to focus really well. I don’t like to think of myself as too serious about anything but I can see how this could help me in a business setting.

Interview 2) I was told that I am very disciplined in many aspects of my life and that it most likely came from the time I spent in the military. I think I would agree with the assessment that it stems from the military as I used to not be as disciplined.

Interview 3) Again I was told that I’m pretty disciplined for a college student and that my friend believes that its because I was in the military and that I am older than others. He had used the fact that I wake up at the same time every morning to exercise.

Interview 4) Discipline came up once again in reference to my military experience. I think people reference that a lot because it’s foreign to them so they believe that I developed many qualities most don’t have through that part of my life.

Interview 5) I was told something different in that I am good a telling people what they want to hear and I’m very good at creating an impression when I speak with different people. It sounds like a great piece of human capital to have, but sounds a bit cynical at the same time.

I feel that the way I see myself and the way that others see me is kind of the same. I think the largest difference in the way I see myself as opposed to the way that others see me is how serious I am about different things. It is easy for me to remain focused on something and I think that in misunderstood by others. For the most part, I think the people that I interviewed are correct about what they have said in the interviews, but a few of them did cover the same point over and over. This leads me to believe that the list I created was accurate and doesn’t need to be changed. Though, it is hard to limit the extent of one’s human capital to just five different things.

Idea Napkin No.2

Me:
 I am driven, hardworking and have good planning skills. I still have the same skills I listed last time like financial skills, networking, critical thinking and decision making skills. I have customer service and sales experience that I will be able to utilize as well. I believe I will be able to turn a quick profit in this endeavor until the next trend emerges in this field.

What I'm offering:
I would be offering a product that has large potential but is still new on the market and hasn't been recognized as an opportunity yet. I would mainly be a distributor of a product on a larger scale than it is now. The Golf Board is a more efficient, easier to maintain and a new fun way to get around the golf course during play. For the people asking for how I would build this product or how it could work, it already exist and works great and I would just be a distributor, not the inventor of the product. I suggest actually reading what I write or google to help answer any questions that deal with the product.

Who I'm offering it to:
This product would be offered to golf courses. It would be a new experience for them to offer to their customers. The largest demographic would definitely be the younger groups. Like I said before, younger demographics are usually more open to new technology and it's basically an electric powered off-road skateboard that you can strap your clubs to.

Why they care:
The courses themselves will care because the boards are easier for the staff to maintain them and the are better for the health of the grass which can be pretty pricey for courses to take care of sometimes. Also it has the ability to bring in new business. They can earn themselves repeat customers by sparking interest in the game itself with new golfers and if they are one of few courses that have this as an option, I'm sure it'll draw existing golfers to the course at the very least to try it.

What are my Competencies:
Nothing has changed here. I still have the experience of working in the golf industry and the network I have built within a company that owns more than 50 courses in the United States and Canada. I feel that this can get me far in accomplishing my goal.

I also still believe that all of these elements fit together quite well and are a recipe for success. The hardest part will be starting a business for the first time but after one of the previous chapters that we went over, I believe I have a better understanding at the very least of how to do this.

Feedback Memo:
My feedback from my first napkin was almost all positive. I did however think more about STP for who the product is for. I also wrote in the section for what I am selling that it's an existing product that is brand new and most courses don't know about it yet. I would just be distributing. I've had more input about the design and building of a theoretical product than anything else. I feel I had made it clear before that I would just promote and distribute an existing product, so I was very blatant in making that clear at the end of that section. Other than that my feedback was very good.

Week 8 Reading Reflection

I think the most surprising thing in the reading this week was the part about venture capitalists. I was surprised about all the different thing concerning them from the ways they get venture capital to the several ways they evaluate new opportunities. I was confused when they were talking about promoting open data. I feel as though it didn't quite "fit" in the theme of the overall chapter and could've been explained better. If I could ask the author anything it would be why a lot of venture capitalist think they are going to get an above average return on their investments most of the time. I mean it can't be possible to always come out at a level they want.  As with other chapter that are just introducing factual information, it is hard to find the author wrong about anything, especially when I don't have the knowledge to identify parts he may have been on.

Halfway Reflection

The behavior you have to exhibit to keep up with the requirements of this course is that of discipline. You have to have the discipline to not just handle the coursework, which is plentiful, but you have to have the discipline to check Canvas everyday to make sure you've completed what you need to. Your work will need to completed before 9pm on the day it's due instead of 12am, so you're not going to want to wait till last minute.

I think that the only moment when I felt overwhelmed by this class would be sometime around the third week when I realized that every week there were several assignments due. It initially limited the study time I needed for other courses, but I learned use my time more efficiently and started planning time to study and time to complete assignments. After I got into a weekly trend the class became less stressful and I knew what to expect week after week.

The three tips I would give students for next semester is 1) Work in the mornings because this class has a lot of work and an early deadline, so waiting till last minute just doesn't work as well as it may with other classes. 2) Develop the discipline to check Canvas every day for assignments if you don't already because there are a lot of them and it can be easy to forget every once in a while. 3) Understand that this class is harder than you think, so be prepared to work more than you expect. Develop a daily routine that you can fit this class into and work ahead when you get the chance.

Week 7 Reading Reflection

I wouldn't say I was surprised by anything in this weeks reading but it was overall interesting. I especially liked the part that talked about segmentation in business. I just thought that was pretty informative. This chapter was pretty straight forward and I didn't really find anything too confusing this week. If I could ask the author anything, I would ask why he think senior management didn't trust segmentation when it was considered mathematically sound and helped others out. I don't think that the author was wrong about anything this week, but I could tell that there was much more to this subject and I would like to hear more specific explanations.

Elevator Pitch No. 2

What stood out that was important is that I clearly define what the product is for the clients and customers. One of the classmates that reviewed me doesn't golf and didn't understand what the product was clear enough. It's also a new product so many people familiar with the game may have also been confused. I didn't receive any wrong/silly feedback. The comments that had feedback were mostly constructive and helped a good amount.

What I changed based on my feedback was mainly my attire and my energy. I decided to dress a little more appropriately for a business speech. I decided against anything more than a dress shirt because having worked in the golf industry before I know that everyone from hourly employees to the top execs, that most of the time they wear more casual attire. I also found a place that I could record myself while standing. I believe this helped me present my pitch with a little more energy.

Week 6 Reading Reflection

I think that the part of the reading this week that surprised me the most was that the five forces model was so old. I'm mostly surprised that it's still considered relevant when it's about thirty years old. Nothing this chapter was too confusing. I did find the diagram of the five forces a little weird though. I just think there could've been an easier way to explain the concept. I think that I would ask the lecturer to explain more about why fast growing industries and profits don't go hand-in-hand. I'd also ask if he would change anything about the five forces model to make it a better reflection of this generation. I feel as though he was trying to squash assumptions about the market that many people make and was very blind to some things. For example, I definitely think that the buyer has bargaining power in this day and age with the ability to compare choices much more quickly.

Idea Napkin No.1

Me:
I am a driven individual with a good foresight and can make a plan and achieve my goals. I have many talents that can benefit me like financial skills, networking, critical thinking and the ability to make decisions when they need to be made. I have customer service and sales experience that will help me achieve my goals. I think that this is something that I can make a good amount of money off of in a few years time with hard work before the next trend comes out.

What I'm offering:
I would be offering a product that has yet to be largely recognized as a business opportunity by most golf courses in the world. I would be offering a service of distributing a product on a larger scale than is currently being done. The golf board is more efficient and easier to maintain than a normal golf cart.

Who am I offering it to:
I would be offering this product to golf courses. This product is great for anyone of all ages that golfs because it's a new piece of technology that will peak the interests of all golfers. That being said, the largest demographic will surely be the younger age groups. I think because of the interest that younger demographics take in new technology and their openness to it that they would really enjoy the use of the product.

Why they care:
I think that the courses would care about this because not only do the golf boards offer more efficiency to their company but they are low maintenance and help preserve their grass better than a cart does. Also, the golf board would be sure to bring in new customers especially in the younger demographic and that could be future business for years to come.

What are my competencies:
I'd say what sets me apart from everyone else would be my experience working in the golf industry and my passion for the game and improving the way it can be played. Something I have that no one else has is the network I already have built within a company that owns more than 50 courses in the United States and Canada.

I think that all the elements on my idea napkin work together perfectly for the opportunity that I described. I think that the weakest part of my idea would be that I would have to learn how to set up a business like the one described from nothing and the logistics would be tough to learn at first. Other than that I believe that everything would I laid out would be great for chasing down this venture.

Week 5 Reading Reflection

This week I think that the biggest surprise in the reading was how many people do business through online sites like eBay. I myself have used the site from time to time, but I never really thought of it like that. I guess a lot of people see it for what it is, an online marketplace to do business. The part of the chapter that confused me the most was the differences when it came to the different types of ownership. Some have obvious benefits over others for certain ventures, but with some of the similar ones it's much harder to see why you'd use one over the other. If I could ask the author anything for this chapter it would be "which of the pittfalls are the most common to run into when starting your own business?", then I would ask about the best way to avoid them from happening. This chapter is pretty much just a factual layout of everything that gets covered, so it's hard to find something to disagree with this week.

Elevator Pitch No.1

Here is my elevator pitch. As with other students it was difficult to find a place to prop up my laptop.

The opportunity I found was a way to increase the pace in which golfers play the game. It's a new piece of technology called a Golf Board that just hit the market and there are very few courses utilizing this new gear. My plan would be to become a distributor to local courses. So instead of inventing or creating something new, I would be taking advantage of an opportunity based on a need of locals and filling that need with an already existing product that they don't have access to.

Week 4 Reading Reflection

I think that what surprised me the most was that the entire chapter read like a psychology book. It was pretty much entirely about the brain and different types of creativity.  One thing that confused me a bit was the exercises for sparking creativity cause I don't think they work. They seem less practical than he makes them out to be. If I could ask the author two questions, the first would be if he really believes that dealing with different relationship is as straight forward as he makes them out to be and second I would ask what exercise for sparking creativity that he personally uses most of the time. I'd like to hear his answers to these two questions. There are a couple things that I don't completely agree with in this chapter. The main thing would be how something as subjective as creativity can be broken into specific processes and that he has  his own list of things that hinder theses processes. I don't think there is much that can hinder true creativity.

Customer Interview No.1

There are a lot of issues when it comes to playing golf. There's always an issue whether it's the amount of time it takes to  the weather conditions. I was thinking about how long it takes to play sometimes when I was talking to people and a couple of people shared the same sentiment.

Obviously the people who would have the unmet need would be the golfers of any age who like playing golf but sometimes it poses to be too much of a time commitment.

The questions I asked where very open ended questions because I wanted the potential customer to talk as much as possible to see if the opportunity existed without me coercing it out of them.

First I asked them about themselves, I asked "Could you tell me about yourself, like your name age and how long you've been golfing?"

Then I asked "What is a normal day out playing golf like for you?"

Then I asked "Are there any things that you don't like about your experience when you play golf?"

And finally I asked "Is there any way you can think of to improve your experience out playing golf?"

What I learned about this opportunity is that there are many ways to approach making golf more enjoyable for the players. I learned that many people share the same sentiment that sometimes it just takes too long to play an entire game.

What I learned about interviewing customers is that the younger demographic was more willing to talk to a random person than the older demographic. I think students are more willing to do so because it's more common to see this type of stuff on campus.  I had gone to a couple courses to speak to people and it was clear that people didn't want to get interviewed during their leisure time and that the establishments didn't want me there. It took a while to figure out who to talk to.

Top 5 World Problems

This is my top 5 ranking for the global issues that I had listed in my previous post.

1.       The diminishing sources for fresh water throughout the world.

2.       Hunger around the world.

3.       The lack of availability of an education.

4.       Global Terrorism.

5.       The uneven distribution of global wealth.

And now these are the solutions that I believe to be the most possible to implement.

1.       The invention of a faster desalinization process.

2.       Countries taking responsibility for educating its citizens.

3.       Nonprofits and charities giving more money to their cause of fighting hunger.

4.       Understanding what breeds the growth of terrorism and being able to take swift action.

5.       Larger nations helping grow smaller undeveloped ones instead of taking advantage of them.

I listed these problems and solutions in this order based on my own opinion of what I think the biggest issue are and the most possibly implemented solutions.  I ranked the diminishing source of fresh water as the biggest problem because it’s an issue everywhere in the world and it is quite possibly the fastest increasing issue.  With the loss of drinking water to highly populated areas the world will end up with mass death and disease.  It’s also not hard to imagine war over sources of clean drinking water when it is a scarce commodity. In short, I feel that this issue will lead to and add towards many other of the world’s biggest issues.  I also put the solution to this issue as the most possible. We already have a way to desalinize sea water. It’s just not fast enough to help in terms of providing fresh water on a large scale basis.  The technology already exist and I believe that when the issue becomes an immediate threat that it won’t take too much effort from scientist around the world to increase the efficiency of an already existing process. The rest of my list is as it is because the higher the issue is ranked, the more problems arise from that specific issue. With the solutions, they are ranked as such because the more possible ones are based on creating or slightly changing things that don’t affect people or governments and the less possible ones are based on changing human nature, which is much harder.

Week 3 Reading Reflection

My biggest surprise in the text is that generation x is the most entrepreneurial.  If I had to guess before reading I would've guessed that perhaps millennials would've been the most entrepreneurial.  They seem to not have realistic workplace expectations and I would've thought that would lead to innovation but I guess I was wrong. During the reading I thought that metacognition was a little confusing but then started to understand it. It seems like it goes to far in detail about this for something that seems to essentially be a philosophy logic circle.  Also, the grief recovery part was a bit of a weird concept to me.  I think I would ask the author why he thinks that all grief can be managed the same way. It's all situational and people tend to deal with it differently than one another.  I would also ask if he was completely serious when he wrote about the dark side of entrepreneurship. Why write about something that discourages people to a concept he's trying to push.  The only things I was maybe a little in disagreement about are the two questions I would've asked.  Maybe I'm just looking for a different explanation than the ones that were given in the text.

Very Short Interview No. 1

The person I interviewed is named Robert Norton.  Robert is a friend and business acquaintance of my step father.  Robert has done claims adjusting and appraising for corporate insurance companies for more than ten years, which has built a strong knowledge base in the field. For the past ten years though, Robert has been doing independent adjusting, which is sometimes referred to as being an umpire.  He is fulfilling a mass need for claims adjusting and damage appraisal done by a third independent party so that the consumer doesn't get an unfair appraisal by the company with which they have the policy.  He is an entrepreneur because he not only owns and operates his own business successfully, but he had identified a need for a product/service and decided to leave a corporate structure to fulfill the need of the potential clients he foresaw.  I asked Robert three short questions in our interviewed which he answered as follows.

What does it mean to you to be an entrepreneur?
-"What being an entrepreneur means to me is that you have a unique opportunity to present a product or service to your clients. In my case, it's a service that eventually renders a product in the form of a check for the client. Being an entrepreneur also give you a chance to focus on results instead of a single task. Part of being an entrepreneur is to see the results you are working towards and working towards the future results, as opposed to just being a worker and focusing on an individual task and having a majority of you responsibility being to just show up and conduct small tasks from 9-5.  Being an entrepreneur means you don't have a schedule and that you have to put in the work when the inspiration and motivation hits you."

What do you think that I should learn in my entrepreneurship course?
-"Hopefully, you will learn how to distinguish between a hobby and a business. Too many people treat their endeavors as a hobby and not a business and doing so can lead to unnecessary failure. It would important to learn how to nurture an idea and mold it into an opportunity.  If it's treated as a personal hobby and not a business then there is little chance for growth.  By this I mean that as an entrepreneur you need to learn how not to work "in" your business, but learn how to work "for" your business as a whole."

What is something that you wish you had learned in school before setting out as an entrepreneur?
-"I think one of the most important things that I wish I had learned in school was social protocol in meeting and networking events. Not in the sense of which fork to use at dinner, but as in how to approach a potential client at a social event. I was in a coed business fraternity but unfortunately we didn't focus on the social aspect of things in this context as much. I had a lot to learn with this when I was in the corporate structure."

I think that I was surprised by how open and willing Robert was to share his insight and knowledge.  He seemed very passionate about how he approaches his days.  I also found it interesting that his answers, though slightly different, kind of fall in line with the mentality of what is being talked about in this class.  Though he is not an inventor or the first in his field, he is fulfilling the needs of many people and works on his own schedule.  He seemed to have a lot of insight and I look forward to interviewing him again in the future.

World's Biggest Problems

1. The language barrier
          It's not a secret that not speaking the same language will make communication near impossible. With a world that is much smaller now that people travel so much this is an important issue.
- I think that better language education can easily lessen this issue

2.  Diminishing sources of fresh water.
           It may not be felt as much in our region of the world but for parts of Asia and Africa it's a daily crisis.  Even some parts of the United States struggles with this, like southern California and other ares prone to droughts.
- I think the invention of a faster and more efficient desalinization process is long overdue.

3.  Hunger around the world
           You see people and children starving in those extremely long commercials so you are aware that there are people in that condition overseas.  Unfortunately, this is an issue hear at home as well and just doesn't get promoted as much.
- More money from nonprofit charities could be used for food distribution as opposed to running the nonprofit(we all know the loopholes). This is a battle won inch by inch.

4.  Garbage disposal worldwide
        You the massive land fills that we create but unfortunately if you aren't around one it's not as obvious.  If you travel a lot, you'll notice that there are several countries that don't even have an organized system of collection or disposal so trash is everywhere.
- More developed countries should create more efficient ways to decompose things like plastic and rubber. Less developed countries should organize a collection system.

5.  Global terrorism
            This is a relevant topic that gets discussed everyday almost.  It's something that extends into every culture and religion across the world.
- I think governments being able to identify what conditions breed terrorism is key to stopping it.  At the same time, I believe that being able to take swift action on budding organizations is key as well. This way you don't end up with a group that inhabits parts of several countries.

6. The uneven distribution of global wealth
         I'm not speaking of any individuals personal wealth but countries that exploit undeveloped ones for their resources.  Whether it's a cheap labor force or natural resources this is practiced by most developed countries in the world.
- This is just a form of modern day colonialism. I think larger nations should help cultivate and grow the smaller under-developed country and perhaps give advice about building an economy based on it's best resources.

7.  Racism
         It's not just an issue in the United States. Countries around the world discriminate against peoples and culture they deem "lesser".  Some examples are western European countries discriminating against Turkish immigrants or South Korean civilian's attitudes towards North Korean deserters/escapees.
- I think that this is a long solution that will transcend multiple generations, but a good place to start would be proper education. I think the less ignorant people are to others struggles, the less they are likely to blindly hate.

8.  Disease control
           Many people in the world die daily from treatable diseases.  Others live in environments that are more disease prone and they are more likely to develop something more serious and contaminate others.
- Identification and treatment are obvious solutions to this problem, but also in areas like Africa and China through southeast Asia the creation of more hygienic living areas would lessen the issue greatly.

9.  The lack of availability of an education
          This is an issue from top to bottom.  In undeveloped and poorer countries there might not even be a way for someone to receive even a basic education let alone a higher one.  In our country, many parents struggle to afford even the public state institutions for their child.
- Countries should take responsibility for education it's citizens and for higher education in this country, I still don't understand why I should pay a "public" institution a few grand a year when you can float not just the sports programs but most likely the whole university from the income off of the football program that we all love.

10. War
       We have personally been at war for over a decade. This isn't even counting other countries having disputes. I think we all understand that war is extremely profitable for individuals in the right positions, but it is very costly for everyone involve in a multitude of ways.
- I think the only way to prevent or stop a war is for a countries people to express their disapproval and for for foreign governments to do the same.

Bug List

Things that bug me
1.  The lack of available parking on campus during school hours.
           Exists because UF only sell specific permits to specific people.

2.  The old desks at Marston and the close proximity they are to each other
          The university probably spends more money on improving Lib West

3.  The Chipotle on University consistently gives more meat than the Archer one(C'mon!)
         Possible lack of consistent training

4.  The lack of good drink specials in midtown on Saturday night.
           They know everyone is coming out so they lack the need to run any worthwhile specials

5.  The lack of storage/passenger space in my small two-seater car
           Bad judgement of my personal needs when I purchased the car

6.  How the entrance to some parking lots in Gainesville have a high/steep grade
           Gainesville is a hilly area and ACRs drive big trucks

7.  Not being able to get near an outlet at Marston when you need it.
          Assuming they think laptops run off of something other than electricity

8.  The quick merge to one lane on university when you are heading east just before 2nd
             Idk why they would choke traffic at such a busy area...I just don't know

9.  Not enough scooter parking in the NE part of campus
         A lot of students use scooters to get to their classes

10.  When classes use more than one online site to complete assignments
             The professors don't have the best logistics

11.  When bus routes don't connect efficiently to each other
          Another logistics issue

12.  Chick-fil-a on campus doesn't serve breakfast
            Unsure. I feel there would be a big demand for this based on the location

13.  The number on the front of some buses don't work so you don't know which bus it was till it's too late.
            Insufficient servicing by the bus company

14.  When bikers don't follow the rules properly cause they can easily get away with it
            It's convenient to not follow them if you think you'll get away with it

15.  When a shirt fits well but the sleeves are too small around.
           Quality control issue since it's not a normal occurrence but sometimes happens

16.  When people chew with their mouth open very loudly
           I was yelled at as a kid if I did this at the table, not everyone was taught manners

17.  When Gator football games start too early in the afternoon
           This bug consist because someone is inconsiderate of our gator spirit(we need to tailgate!)

18.  The excessive amount of tickets UF parking services will give you and the cost
           They're willing to ignore the fact that you received 8 a semester as long as you keep paying them which clearly shows that they're just fishing for extra income for the school

19.  The fact that the county goes dry after 2am.
            I'm from a place where bars are open till 4am and I'm unsure why any place would be different

20.  When people talk in the library
            I guess they do so because they know there are no repercussions

This took a lot longer than I thought it would.  I guess I don't really focus on things like this in my dy too often but everything listed could be improved in some way. It was easy to think of the first few but then it took some reflection on my weekly routine and some critical thinking to come up with the rest.

Introduction

Hi everyone, my name is Chris Hand and I'm from Fort Lauderdale, Florida. I only have one sibling, an older brother and a few step siblings in the state.  Most of my family is from Massachusetts and I have a very large extended family there that I visit on occasion.  I'm a finance major and I want to work in banking, though I'm not sure if I'd prefer the investing side or the commercial side. I've had the opportunity to travel a little more than most because I was in the military for four years before starting college.  I was stationed in Hawaii, deployed to Iraq for a year and did training missions in South Korea.  I also took some time off to live with a good friend of mine in Germany where we traveled to a few other countries in western Europe.  I transferred into UF from a smaller school in south Florida just last semester and I love it so far.

My Entrepreneurship Story

Growing up I hadn't known exactly what my uncle did for a living, as few kids really do.  However this past year I was able to see what he did first hand.  He is the president and co-founder of United Tranzactions, which is one of the biggest payment solutions companies in the South Florida area.  He had been successful working for a company that guarantees checks. Even though many of these went out of business due to lowered use of checks, he still saw a need for some form of payment solutions. He mainly deals with businesses now, making sure that a company can pay it's employees on time or can order any supplies they may need on a timely basis. He recently merged his company with another in 2010 and was able to liquidate a good portion of his shares in the company. Regardless of having a personal wealth of about 40 million, you would never think that was the case by the way he works just as if he started the company yesterday. What's truly amazing about this is that even though he may seem like a highly educated expert in the field, he actually didn't graduate high school!  He learned by doing and came out on top. To me he embodies the entrepreneur's spirit.

The reason I enrolled in ENT3003 is because I have heard it was a very insightful class and that everyone I asked said that they truly enjoyed it. What I hope to get out of taking this class is a changed mindset as far as how I approach tasks and other daily activities. I think this class can give me a new way to look at the world.

My Entrepreneur's Mantra

TEST POST

This is a test post for my ENT3003 class. I hope it works!