1) The exit strategy I plan to take is to sell the business to a private investor. This will allow me to gain a lot of capital in order to be able to start another business or invest it. I think once the business is worth a lot of money it would be in my best interest to sell it rather than continue.
2) I selected this exit strategy because I am not at a good time period in my life to continue a business adventure like this. I need to gain the necessary experience in the job field before I am able to continue as an entrepreneur.
3) I think my exit strategy has had very little influence on any of my other strategies. Even though I plan on trying to sell the business I do not treat it any differently. I still act like it is my precious baby and not to mess anything up. On the other hand, it has give a lot less motivation to work on different growth strategies.
Friday, April 17, 2020
26a Celebrating Failure
1) A time this past semester I have failed was trying to get back into working out. Throughout high school I was able to dedicate an hour a day to workout and maintain my health. My first semester of college was extremely hectic and I couldn't fit the time into my day to workout. This felt like a major failure to me as I was helplessly trying to get back into that rhythm. I tried over and over again to get back into it but every time it would last a couple days until I got way too busy and forgot again.
2) Something that I learned from this was to never give up. This has taught me to be determined when I am doing something important such as preserving my health. I learned that one of my best motivators was being able to get a friend to go with me and help me stay motivated. I learned that using my friends as motivators are more helpful than myself.
3) To me, failure is not a problem. Failure is a problem if you do not learn from it. When I fail at something I always try to learn a valuable lesson and be better the next day. This has helped me in this class because I failed a lot while trying to work on my idea. Instead of giving up I would try again and make it even better.
2) Something that I learned from this was to never give up. This has taught me to be determined when I am doing something important such as preserving my health. I learned that one of my best motivators was being able to get a friend to go with me and help me stay motivated. I learned that using my friends as motivators are more helpful than myself.
3) To me, failure is not a problem. Failure is a problem if you do not learn from it. When I fail at something I always try to learn a valuable lesson and be better the next day. This has helped me in this class because I failed a lot while trying to work on my idea. Instead of giving up I would try again and make it even better.
Friday, April 10, 2020
25A whats next
Step 1: Talk about what you think is what's next in terms of products and services for your venture.
-Next for my products and services I think is about upgrading the scooters. By upgrading the scooters I am able to get out a higher quality product to my customer. This will allow me to be able to reach new markets and have more customers available.
Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about your ideas of what customers might want next.
-I am unable to do this step because of coronavirus.
Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.
-To grow my existing market I think the best thing to do is increase advertising/marketing. To do this the best method is to advertise towards the younger market such as freshman and sophomores. This will allow me to be able to reach more people and at a greater time. The freshman and sophmores are more likely to travel and are therefore my biggest potential customers.
New Market.
Step 1: Identify a radically different market from what you're currently planning to target. If you're currently targeting B2B, think about going after a B2C market. If you're currently targeting an affluent part of society, think about targeting a very poor part of society.
- Another market I can target is the surrounding community next to the UF campus.
Step 2: Once you have identified a radically different market, describe how you think your venture concept might be able to create value for people in that market. You may have to get creative with this -- that's OK -- and perfectly welcome!
- I can create value for these people by allowing them to have a cheap transportation way. This will allow them to get to any job or restaurant they need
Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market? Step 4: Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on.
-I cant do this step because of coronavirus.
-Next for my products and services I think is about upgrading the scooters. By upgrading the scooters I am able to get out a higher quality product to my customer. This will allow me to be able to reach new markets and have more customers available.
Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about your ideas of what customers might want next.
-I am unable to do this step because of coronavirus.
Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.
-To grow my existing market I think the best thing to do is increase advertising/marketing. To do this the best method is to advertise towards the younger market such as freshman and sophomores. This will allow me to be able to reach more people and at a greater time. The freshman and sophmores are more likely to travel and are therefore my biggest potential customers.
New Market.
Step 1: Identify a radically different market from what you're currently planning to target. If you're currently targeting B2B, think about going after a B2C market. If you're currently targeting an affluent part of society, think about targeting a very poor part of society.
- Another market I can target is the surrounding community next to the UF campus.
Step 2: Once you have identified a radically different market, describe how you think your venture concept might be able to create value for people in that market. You may have to get creative with this -- that's OK -- and perfectly welcome!
- I can create value for these people by allowing them to have a cheap transportation way. This will allow them to get to any job or restaurant they need
Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market? Step 4: Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on.
-I cant do this step because of coronavirus.
23 A venture unfair advantage
23A Venture unfair advantage
1. One example of human capital is my Brother Ethan. He is available to help me by producing any products that may be neccessry. This resource is very valuable because I am the only one who has access to the unique capacity of my brother. There is no one else that is able to use his strong academic and social abilities to their advantage.
2. An example of social capital is my fraternity. I am able to spread a lot of messages to a big amount of people through that. This resource is rare because not a lot of business owners have access to this kind of resource. My fraternity has over 150 brothers who are all able to spread messages through word of mouth.
3. An example of financial capital is the $23.92 I have in my bank account I can use towards this venture. This resource is not valuable or rare at all. Money is something that is very easily accessed to most entrepreneur. The part of the resource that is rare is my ability to spend the money in the best way possible. I have lived off of $100 a month for a year now and can continue having great money saving tacticts
4. An example of a capability is to be able to reach a large population of UF campus through my involvement. This resource is pretty rare because of the amount of reach I am able to get through my school involvement. Not many people are involved with as many clubs as I am so I can use this to my advantage of getting more market share.
5. Another example of human capital is my friend Sam. He said he is willing to be my second hand man and help me out with anything that I need. This resource is not rare.
6. An example of social capital is my involvement in the Jewish student union, this will allow me to get more people to ride the scooters
7. An example of financial capital is the gator hatchery. They will be able to provide financial loans for me to be able to purchase necessary things. This resource is not rare.
8. An example of human capital is having access to a fraternity full of available to work people.
9. An example of capability is being able to provide scooters to over 50,000 students.
10. An example of social capital is my mom being able to post on facebook and market towards potential customers.
If I had to choose, my top resource would be my brother ethan. This is because of his unique amount of skills he brings to the table. He has done 4 internships already by his senior year of college and has a lot of experience in business. This resource can help me a lot if I am able to use it correctly.
1. One example of human capital is my Brother Ethan. He is available to help me by producing any products that may be neccessry. This resource is very valuable because I am the only one who has access to the unique capacity of my brother. There is no one else that is able to use his strong academic and social abilities to their advantage.
2. An example of social capital is my fraternity. I am able to spread a lot of messages to a big amount of people through that. This resource is rare because not a lot of business owners have access to this kind of resource. My fraternity has over 150 brothers who are all able to spread messages through word of mouth.
3. An example of financial capital is the $23.92 I have in my bank account I can use towards this venture. This resource is not valuable or rare at all. Money is something that is very easily accessed to most entrepreneur. The part of the resource that is rare is my ability to spend the money in the best way possible. I have lived off of $100 a month for a year now and can continue having great money saving tacticts
4. An example of a capability is to be able to reach a large population of UF campus through my involvement. This resource is pretty rare because of the amount of reach I am able to get through my school involvement. Not many people are involved with as many clubs as I am so I can use this to my advantage of getting more market share.
5. Another example of human capital is my friend Sam. He said he is willing to be my second hand man and help me out with anything that I need. This resource is not rare.
6. An example of social capital is my involvement in the Jewish student union, this will allow me to get more people to ride the scooters
7. An example of financial capital is the gator hatchery. They will be able to provide financial loans for me to be able to purchase necessary things. This resource is not rare.
8. An example of human capital is having access to a fraternity full of available to work people.
9. An example of capability is being able to provide scooters to over 50,000 students.
10. An example of social capital is my mom being able to post on facebook and market towards potential customers.
If I had to choose, my top resource would be my brother ethan. This is because of his unique amount of skills he brings to the table. He has done 4 internships already by his senior year of college and has a lot of experience in business. This resource can help me a lot if I am able to use it correctly.
Friday, March 27, 2020
19A idea napkin 2
1) You. I am a rising Junior at the University of Florida pursuing a degree in marketing. I am a very driven and self motivated type of person. Everything that I denote my time to doing, I do with full effort and energy. My biggest skill set are my interpersonal skills. I am very well trained in de-escalating a situation as well as making sure every party is happy. I have developed superior communication skills and leadership skills through my on-campus involvement in student government.
2) What are you offering to customers? I am offering a simple solution to a problem many students at school face. This allows Customers are then able to take these scooters anywhere they want and park at a nearby dock. This allows for customers not to have to worry about finding a ride or parking. The rides are also a lot cheaper than ride sharing services such as uber and lyft and can save customers a lot of money.
3) Who are you offering it to? My biggest demographic is students at the University of Florida. They are the ones who will be taking out the scooters the most. Many students have very busy lives and constantly need some sort of transportation to accommodate for things being pretty far apart. They are able to rent a scooter instead of the alternatives. This is because the scooters would allow students to get a ride to campus without worrying about high costs or parking. Students have to go to class almost every day and require some sort of way to get from their primary residence to campus. These scooters would allow them to get to where they want to go easily.
4) Why do they care? There is currently a big parking problem on campus. There is a lot more registered cars than parking spots which causes a lot of students to have to walk far or get parking tickets. Scooters are already implemented in Orlando near UCF campus and has been working to fix their parking issues. I think by applying it in Gainesville, the same will happen.
5) What are your core competencies? The biggest difference between my company and the big scooter companies (bird, lime) is they are based on a dock-less model where the scooters do not need docks but rather are picked up and charged. My company has dock-based model which requires the scooters to be placed on a dock after their ride which charges the scooters and allows for a safe place to keep them while they are not being ridden. I think all of these key elements work together to create the best solution. There is a eminent transportation problem here in Gainesville, and this service will fix it. I feel as if customers are really interested in this idea and are willing to use them if they are available. Customers are also a lower socio-economic status usually as being college students, and these scooters are very low cost. This allows for a great opportunity in the market.
The two key points that I have added to my idea napkin is the information I received more about the minds of the target audience. I learned how they think and what influences their purchase decisions. I can use these core competencies to leverage my business to increase my consumer demand. Although some do not think the same, I can group segments into categories based on their categories.
2) What are you offering to customers? I am offering a simple solution to a problem many students at school face. This allows Customers are then able to take these scooters anywhere they want and park at a nearby dock. This allows for customers not to have to worry about finding a ride or parking. The rides are also a lot cheaper than ride sharing services such as uber and lyft and can save customers a lot of money.
3) Who are you offering it to? My biggest demographic is students at the University of Florida. They are the ones who will be taking out the scooters the most. Many students have very busy lives and constantly need some sort of transportation to accommodate for things being pretty far apart. They are able to rent a scooter instead of the alternatives. This is because the scooters would allow students to get a ride to campus without worrying about high costs or parking. Students have to go to class almost every day and require some sort of way to get from their primary residence to campus. These scooters would allow them to get to where they want to go easily.
4) Why do they care? There is currently a big parking problem on campus. There is a lot more registered cars than parking spots which causes a lot of students to have to walk far or get parking tickets. Scooters are already implemented in Orlando near UCF campus and has been working to fix their parking issues. I think by applying it in Gainesville, the same will happen.
5) What are your core competencies? The biggest difference between my company and the big scooter companies (bird, lime) is they are based on a dock-less model where the scooters do not need docks but rather are picked up and charged. My company has dock-based model which requires the scooters to be placed on a dock after their ride which charges the scooters and allows for a safe place to keep them while they are not being ridden. I think all of these key elements work together to create the best solution. There is a eminent transportation problem here in Gainesville, and this service will fix it. I feel as if customers are really interested in this idea and are willing to use them if they are available. Customers are also a lower socio-economic status usually as being college students, and these scooters are very low cost. This allows for a great opportunity in the market.
The two key points that I have added to my idea napkin is the information I received more about the minds of the target audience. I learned how they think and what influences their purchase decisions. I can use these core competencies to leverage my business to increase my consumer demand. Although some do not think the same, I can group segments into categories based on their categories.
Friday, March 20, 2020
18 A Create a Customer Avatar
My prototypical customer is a college student without any current means of transportation. College students are way more likely to have no means of transportation given they are out of state students. My customer's hobbies are socializing, drinking, eating, and studying. They typically would not have a car and rely on other means of transportation. Because my customer is a college student, they would not have any children. They do however have a rescued shelter cat that they hide in their dorm. They are 19 years old but don't feel like an adult yet. My customer's favorite movie is despicable me.
Thursday, March 19, 2020
17A Elevator Pitch No.2
Here is a link to the second Elevator Pitch: https://www.youtube.com/watch?v=4buSA2oyXWQ
I think the most useful feedback from last time was the way that I spoke. I did not speak in a professional manner, rather I was pretty nervous to record myself. Listening to the feedback, it seems like more people noticed that than I would expect.
This time I am preparing a lot more for this presentation. This will help me become less nervous for it and be able to speak more concise and clearly.
I think the most useful feedback from last time was the way that I spoke. I did not speak in a professional manner, rather I was pretty nervous to record myself. Listening to the feedback, it seems like more people noticed that than I would expect.
This time I am preparing a lot more for this presentation. This will help me become less nervous for it and be able to speak more concise and clearly.
Friday, March 13, 2020
16A
1) The 5 things that make me different include: My creativity, openness to change, friendliness, connections and great attitude. I am a very creative type of person. I have always been able to think outside of the box. This allows me to see situations from a very unique perspective. I feel as if I can see things from all angles and rid myself of all bias. I am also open to change and do not fear new situations. This is very important for entrepreneurs by being able to go with all of the changes that will happen regarding the business. I am also a very outgoing type of person. This really helps for when needing to get different people involved with the business. It also really helps when building connections with clients. Connections is also a great factor of who I am. It allows me to be able to be on the same page as other people.
2)
https://www.youtube.com/watch?v=sXJz2m7nekg&feature=youtu.be
This interview consisted of me asking my roommate Sal what he thought my biggest strengths and weaknesses are. He explained that my best skill sets were my interpersonal skills. I would like to agree with what he answered. I asked him also what he thought made me unique and he answered my humor to lighten situations.
:https://www.youtube.com/watch?v=sLj11z9nekg&feature=youtu.be
This interview was with my brother Ethan. I asked him throughout my life what was my most outstanding qualities. He began to tell me about the time I helped my friend after he got bullied in middle school. My brother thinks my compassion is my strongest characteristic.
https://www.youtube.com/watch?v=rLKIIGleLfc
This interview was with my best friend Matty, I asked him what he liked best about me. He answered my unique perspective on different subjects, I think he was
https://www.youtube.com/watch?v=sXJz2m7nekg&feature=youtu.be
This interview consisted of me asking my roommate Sal what he thought my biggest strengths and weaknesses are. He explained that my best skill sets were my interpersonal skills. I would like to agree with what he answered. I asked him also what he thought made me unique and he answered my humor to lighten situations.
:https://www.youtube.com/watch?v=sLj11z9nekg&feature=youtu.be
This interview was with my brother Ethan. I asked him throughout my life what was my most outstanding qualities. He began to tell me about the time I helped my friend after he got bullied in middle school. My brother thinks my compassion is my strongest characteristic.
https://www.youtube.com/watch?v=rLKIIGleLfc
This interview was with my best friend Matty, I asked him what he liked best about me. He answered my unique perspective on different subjects, I think he was
3) After doing this activity I think that my friends really think highly of me. I am glad I was able to see how they thought of me. I am happy I have people that care about me. This reflection allowed me to see some of my strengths. I can use this to my advantage to tailor towards them.
Thursday, March 12, 2020
15A Figuring Out Buyer Behavior
1) I went to Chipotle on University to find people in my target segment. This would be students that would need rides to places such as a restaurant.
3) The other alternatives from renting a scooter are: walking, ubering, getting rides from friends, driving a car, and taking bus. They figure out what they want to do by a variety of different factors. It seems like most people take time into account. If someone is in a rush and does not have a lot of time, walking and taking the bus are no longer an option. If someone is on a money budget they would be more likely though to walk or take the bus. Another factor that goes into account is who they are with. If someone is alone they would not be likely to want to walk and would rather drive with a friend or take a scooter.
4) How/where do they buy? People are able to rent scooters wherever there is a dock. I would plan to have docks on campus and off campus in housing areas such as the standard, the hub, the ridge etc. They can very easily rent the scooter by accessing the app on their phone. It would also be very accessible by having a lot of scooters available.
5) Post-purchase evaluation. People usually take into account how long it took them to get there compared to how much it cost them. Someone would be dissatisfied if they paid money for a service such as uber and it took them a very long time to get to their destination. Walking on the other hand, takes a lot of time but is worth it because of it being free to anyone that is able to do it. People are also more likely to be satisfied if they were able to feel safe while they were doing it. Sometimes people are less likely to feel safe such as walking alone at night.
6) Report the findings. The first interview was with a guy named Ethan. He was a sophomore accounting major and got to chipotle by walking from his house. He said he usually walks everywhere unless it is a very long distance away. He is motivated by the price factor the most. Another person I interviewed was very similar to Ethan. Her name was Sophia. She is a freshman nursing major that lives in the dorms. She walks everywhere aswell. She however does not like to walk past a certain time, usually when it gets dark. She said however that she would feel comfortable taking a scooter at night. The last interview was with a law student named Ben. He said he drives most places because he has a car and gas money. It seemed like everyone that I interviewed would rather walk or drive than to pay money for some service. They however have parking issues by taking car some places such as to class. There are also times when walking is too far or not at the right time when people would take scooters.
7) Draw conclusions. Overall I would rate this market as very saturated. After all of my research I have decided that there are however a lot of gaps in the market that need to be filled. This is when the place is too far to walk and there is no parking available. That would be the ideal situation for someone to want to take the scooter.
Thursday, February 27, 2020
14A Halfway Reflection
Halfway Reflection
1) Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?
The behaviors I used to keep up with the requirements of the course include time management, creativity, and better communication skills. To keep up with this class, you need time management the most. This is because you need to always be aware of deadlines and do the assignments before their due date. It is important to notice that assignments are due friday at 11:59pm which means you should have it done by friday morning. I learned early on its best to do the homework before its due and do it on wednesday or thursday. You also need creativity to be able to succeeed as an entrprenuer. In this class you are creating your own business idea. In order to do this it is vital to have a creative mindset going in. Another integral part of this class is the communication aspect. I learned a lot of communication skills through talking with my group. We give each other vital tips and comments on every post and learn what needs to be improved.
2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
One time I felt like giving up was when having to come up with the first business idea. During this time, I was experiencing a big mental block. I couldn't think of anything and was very fustrated. I really was considering just not doing it and giving up. I decided to take a nap and try to think of it when I woke up. Once I woke up, an idea just came to me. It was such a great idea that I decided to use it. This experience taught me not to give up and to always stay persistant. I learned that by giving it some time I was able to calm down and think of an idea.
3) Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?
1. When you are experiencing a roadblock take a nap.
2. Use your group to your advantage by adhearing to their advice in the comments.
3. When feeling un motivated watch some youtube videos about motivation.
13A Reading Reflection 1
Reading Reflection 1 Steve Jobs
What surprised you the most?
-I think what surprised me the most while reading this book was Steve Jobs dropped out of college to travel through India. When thinking about CEOs and people that have a lot of money you assume that they went to an ivy league or other top university. It is very surprising to me how much success Steve had despite not finishing college. Another surprise to me is that he traveled throughout India seeking enlightenment and studied Buddhism. I learned that Steve Jobs is a pretty enlightened individual and probably learned a lot about himself while studying that. It is really interesting to me that he had that experience in India before starting Apple.
What about the entrepreneur did you most admire?
- What I admired the most about Steve Jobs was his drive to never give up. When he was faced with very difficult situations he kept on working hard and didn't just quit. An example of this was when he got forced to leave Apple in 1985. Jobs lost his job and was put in a position where he was no longer with Apple. Jobs did not just quit and stop working at his goals. He instead went on to create his own new company that was called NeXT. It was Job's drive to never give up that allowed him to be able to eventually make his way up to the top of Apple again.
What about the entrepreneur did you least admire?
- What I admired the least about Steve Jobs was his ego. I think because Steve Jobs was so much smarter than everyone else, he saw himself as better than everyone. He was described by many people as difficult to work with because of that. Steve would often share with people how much smarter he was than them and acted like it. I do not like this part of Steve because I think having a very high ego is a bad trait. I do not like when people act as if they are better than everyone else as it makes others feel bad.
Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
-Steve Jobs encountered a lot of adversity and failure. He did not let anything get in his way of success. Jobs was first placed through struggles when he was placed up for adoption by his mother. She did not want his biological father to know, and placed him up for adoption in San Francisco without his knowledge. Steve was then forced to grow up with his foster parents. Jobs did not see it that way. Jobs loved his foster parents so much that he saw them as his real parents and his biological parents as a sperm bank.
What competencies did you notice that the entrepreneur exhibited?
The competencies I noticed Steve Jobs exhibited was his creativity. Jobs was able to create something that no one had ever even imagined before. He continuously was the pioneer for new emerging trends in the computer market. Steve was able to eventually create one of the most revolutionary trends in the world: Portable computers. He was able to create this new virtual network which allowed for everyone to be connected. He was such a creative and unique individual to be able to be the first one to imagine this.
3) Identify at least one part of the reading that was confusing to you.
A part of the reading that was most confusing to me was what happened when Steve Jobs got his job at Attari. I am confused about what happened with pong that allowed Steve to be able to get the job even though he didnt even make the game.
4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?
If I was able to ask Steve Jobs two questions, I would try to ask him about when he came up with the idea of having an Iphone. I would ask him this because I am so interested with how he came up with the idea. It seems like such a revolutionary idea compared to the time before it. Another question I would ask about is what is his biggest limiteation. I am very curious to what holds him back and what he needs to work on.
Thursday, February 20, 2020
12A Buyer Behavior
Sketching out the Beginning of the Buyer Behavior Process
Overall, my interviews were very productive in finding out more information about potential buyers. I learned that students who walk to class would rather pay a very small fee for the scooter and be able to get to class much faster. The buyer has a need to get from place to place on campus. This need is complicated one because of the nature of transportation. Someone can choose to get to campus by car, moped, or walk. I learned that customers mostly use their moped or walk to class unless they live very far off campus. This means that my primary market is students living near the campus. This is becasue they would be the ones who would use the scooters the most.
I also learned besides getting to class, a lot of students have a need for transportation to bars and resturants. A lot of students indicated that they currently spend a lot of money on Ubers because of their lack of access to transportation. Electronic Scooters would be a much cheaper option than Uber in general. An issue I learned about while conducting these interviews is that the scooters would need to be easily available. This means that I must have enough scooters to meet the needs and the scooters must be in an area near to where the customer wants to use it. Customers would use the scooters at all parts of the day.
It is evident to me that the customer need of transportation can be met by these electronic scooters. Conducting these interviews further supported my claim by understanding more about their specific needs. The target segment needs to travel around a lot and do not have many means to travel. This electronic scooter option will be easily available to them and cheaper than the alternatives. The need of transportation can be met through this.
11A Idea Napkin 1
1) You. I am a rising Junior at the University of Florida pursuing a degree in marketing. I am a very driven and self motivated type of person. Everything that I denote my time to doing, I do with full effort and energy. My biggest skill set are my interpersonal skills. I am very well trained in de-escalating a situation as well as making sure every party is happy. I have developed superior communication skills and leadership skills through my on-campus involvement in student government.
2) What are you offering to customers? I am offering customers a solution to their parking and transportation problems. I am offering a service by having scooters available for rent. Customers are then able to take these scooters anywhere they want and park at a nearby dock. This allows for customers not to have to worry about finding a ride or parking. The rides are also a lot cheaper than ride sharing services such as uber and lyft and can save customers a lot of money.
3) Who are you offering it to? My biggest demographic is students at the University of Florida. Although anyone is allowed to use the scooters, the scooters can help out UF students the most. This is because the scooters would allow students to get a ride to campus without worrying about high costs or parking. Students have to go to class almost every day and require some sort of way to get from their primary residence to campus. These scooters would allow them to get to where they want to go easily.
4) Why do they care? There is currently a big parking problem on campus. There is a lot more registered cars than parking spots which causes a lot of students to have to walk far or get parking tickets. Scooters are already implemented in Orlando near UCF campus and has been working to fix their parking issues. I think by applying it in Gainesville, the same will happen.
5) What are your core competencies? The biggest difference between my company and the big scooter companies (bird, lime) is they are based on a dock-less model where the scooters do not need docks but rather are picked up and charged. My company has dock-based model which requires the scooters to be placed on a dock after their ride which charges the scooters and allows for a safe place to keep them while they are not being ridden.
I think all of these key elements work together to create the best solution. There is a eminent transportation problem here in Gainesville, and this service will fix it. I feel as if customers are really interested in this idea and are willing to use them if they are available. Customers are also a lower socio-economic status usually as being college students, and these scooters are very low cost. This allows for a great opportunity in the market.
Thursday, February 13, 2020
9A - Testing the Hypothesis
Assignment 9a - Testing the Hypothesis
For the past week or so, I have been collecting data from students I have surveyed passing by Turlington. I asked these students various questions in order to gather relevant data to support my idea. After analyzing all of the resulting information, I have gathered some conclusions regarding my idea of bringing electronic scooters to Gainesville.
Many students say they would use the scooters when going to class, eat, study or whatever various reasons if the scooters are easily available. I think this is a very interesting opportunity I learned because I need to make sure that I have enough scooters so that they are near those that want them. People would not go too far out of their way to walk to a scooter, so they would rather just walk to their destination.
I also learned though the interviews that a lot of people do not feel safe riding scooters in general. A lot of people mentioned liability issues and how many people have been getting hurt on scooters. Although this is a serious claim, every product or idea has some sort of liability or fear going against it. This problem can be solved with getting insurance for the scooters and showing to the people how safe they can be when ridden correctly.
The need for transportation is a very general and broad need. There are currently many options to fit the need; walking, taking bus, driving, carpooling. Each of these needs however all have their own issues that scooters would be able to fix. A college campus is a small area that is very densely populated so there will always be problems with traffic. People indicated they would rather ride a scooter on the sidewalk rather than wait on a car in traffic.
It is evident that a large group would not be inside the boundary. This group is those who need transportation but are traveling long distances. This would include a trip to the springs, wildlife preserve, south florida, or anything that would require a lot of time on the streets or highway driving. This would be nearly impossible to do on an electronic scooter.
 | |
Thursday, February 6, 2020
8A Solving the Problem
I feel as if creating a local scooter company would be a great chance to solve this problem. I think if I were to do this, I would get scooters that require a dock. This would provide an opportunity for the students to be able to park the scooters anywhere the dock is. This allows for very easy access to campus and around campus for the UF students. The scooters would have to be low cost and lower quality to allow for students to be able to afford it. This would help solve the transportation issue as scooters can be used to quickly get around town.
Testing the Hypothesis part 1
1) The opportunity I am selecting is bringing electronic scooters to gainesville
2) An opportunity I am interested is the need for a better way of transportation on the UF campus. This opportunity would be for student of UF and local Gainesville residents to be able to get around the city of Gainesville. Electronic scooters are a way of transportation that can clear up traffic and allow people to get to where they need to go faster.
3) Testing the who I need to figure out if UF students would ride scooters if they were available. I could also test local Gainesville residents to see if they are interested as well. Testing the what I would need to figure out how often people would use the scooters and how many people do not have other means of transportation. This would help to figure out if it would be worth it.Testing the why I would have to figure out why people would want to take a scooter over other forms of transportation.
4) I have successfully interviewed the first 5 students I passed by on my way to a class. I asked each student the same questions to try to figure out the questions posed on #3. I learned that students would be very interested in riding scooters. Students seem to need a way to get to class that they can easily park. A lot of students mentioned parking to be the biggest problem with their current transportation situation. I also found out that most students do not have a car, and some of them have scooters. I figured that students mostly need a way to get around and can walk but would prefer a faster way. I learned that parking was an issue and a reason why students would choose to take a electronic scooter over a car or regular scooter.
2) An opportunity I am interested is the need for a better way of transportation on the UF campus. This opportunity would be for student of UF and local Gainesville residents to be able to get around the city of Gainesville. Electronic scooters are a way of transportation that can clear up traffic and allow people to get to where they need to go faster.
3) Testing the who I need to figure out if UF students would ride scooters if they were available. I could also test local Gainesville residents to see if they are interested as well. Testing the what I would need to figure out how often people would use the scooters and how many people do not have other means of transportation. This would help to figure out if it would be worth it.Testing the why I would have to figure out why people would want to take a scooter over other forms of transportation.
4) I have successfully interviewed the first 5 students I passed by on my way to a class. I asked each student the same questions to try to figure out the questions posed on #3. I learned that students would be very interested in riding scooters. Students seem to need a way to get to class that they can easily park. A lot of students mentioned parking to be the biggest problem with their current transportation situation. I also found out that most students do not have a car, and some of them have scooters. I figured that students mostly need a way to get around and can walk but would prefer a faster way. I learned that parking was an issue and a reason why students would choose to take a electronic scooter over a car or regular scooter.
Identifying Opportunities in Economic and Regulatory Trends
One economic opportunity I have found is the rising price of food. This can be an opportunity to create food in a lab synthetically in order to combat the current weaknesses of how food is made. I found this information online on an informational site called the balance. I saw that extreme climate conditions are one of the main reasons why food prices are increasing and finding an alternative way to source food would help to solve that problem. I think this opportunity relates to every customer because of its nature of being something people can't live without. This huge demand causes it to be something easy to exploit given the right products.
I feel like I saw this opportunity because of my increased interest in food. I am a big supporter of food and try to experience as many different restaurants as I can. This makes me believe that food has a big impact in peoples lives as they have to eat to survive.
Another economic opportunity I have found is that the US economy is currently in an expansionary period. This means that it is a very good time to invest in the market and real estate as it will only continue to grow. I have found this opportunity through watching the news and talking with professors. There is a great opportunity to be able to increase your total wealth by investing in the business cycle and the predictability of a expansionary period. I think adults who have extra money to spend would be the target market of this opportunity. They would be the people most likely to invest because of them being able to afford it. This opportunity is relatively easy to exploit as people are always wanting to invest their money at the right times.
I saw this opportunity because of my uncle always preaching to me about having to invest in the stock market. He would always tell me whenever I saw him that its never too early. I think that it is very important to invest your money as it is a great way to increase your funds. This opportunity seems like it is personal from my experiences with it.
One example of a regulatory trend is the increasing laws made against owning firearms. Over time, there has been an increase on rules and regulations regarding using a gun. The source I have for this information is a New York times article on how hard it is to legally obtain a gun. I see there is an opportunity to try to sell guns as people might start to stockpile them thinking there might be a ban on them soon. I see this opportunity mostly for those who are in favor of guns and see their necessity. I think this opportunity might be a little bit harder to exploit as the market is already pretty saturated.
I saw this opportunity as I desire to one day purchase a weapon in order to protect myself. I think that this opportunity appeals to my desire as I am vested in it. I think that this helps to understand why it would be a great opportunity.
The last opportunity is another regulatory trend of prescription medication becoming more regulated with more reporting and oversight. I found this information in a blog by Deloitte describing the 2020 life sciences regulatory outlook. This seems like a good opportunity to try to get the prescription drugs at a cheaper cost or from different pharmacies. This opportunity relates to those who require prescription drugs. I feel like this opportunity is going to be difficult to exploit as it would be hard to get into the market.
I chose this opportunity because in high school, I used to work at a cvs part time. I was always very interested in our pharmacy section and it always appealed to me. I think there is a huge amount of people who require the pharmacy. This is a growing trend in America in my opinion.
I feel like I saw this opportunity because of my increased interest in food. I am a big supporter of food and try to experience as many different restaurants as I can. This makes me believe that food has a big impact in peoples lives as they have to eat to survive.
Another economic opportunity I have found is that the US economy is currently in an expansionary period. This means that it is a very good time to invest in the market and real estate as it will only continue to grow. I have found this opportunity through watching the news and talking with professors. There is a great opportunity to be able to increase your total wealth by investing in the business cycle and the predictability of a expansionary period. I think adults who have extra money to spend would be the target market of this opportunity. They would be the people most likely to invest because of them being able to afford it. This opportunity is relatively easy to exploit as people are always wanting to invest their money at the right times.
I saw this opportunity because of my uncle always preaching to me about having to invest in the stock market. He would always tell me whenever I saw him that its never too early. I think that it is very important to invest your money as it is a great way to increase your funds. This opportunity seems like it is personal from my experiences with it.
One example of a regulatory trend is the increasing laws made against owning firearms. Over time, there has been an increase on rules and regulations regarding using a gun. The source I have for this information is a New York times article on how hard it is to legally obtain a gun. I see there is an opportunity to try to sell guns as people might start to stockpile them thinking there might be a ban on them soon. I see this opportunity mostly for those who are in favor of guns and see their necessity. I think this opportunity might be a little bit harder to exploit as the market is already pretty saturated.
I saw this opportunity as I desire to one day purchase a weapon in order to protect myself. I think that this opportunity appeals to my desire as I am vested in it. I think that this helps to understand why it would be a great opportunity.
The last opportunity is another regulatory trend of prescription medication becoming more regulated with more reporting and oversight. I found this information in a blog by Deloitte describing the 2020 life sciences regulatory outlook. This seems like a good opportunity to try to get the prescription drugs at a cheaper cost or from different pharmacies. This opportunity relates to those who require prescription drugs. I feel like this opportunity is going to be difficult to exploit as it would be hard to get into the market.
I chose this opportunity because in high school, I used to work at a cvs part time. I was always very interested in our pharmacy section and it always appealed to me. I think there is a huge amount of people who require the pharmacy. This is a growing trend in America in my opinion.
Thursday, January 30, 2020
Identifying Local Opportunities
Here are the 5 local opportunities from the Gainesville Sun
GPD: Police didn’t leak auditor documents
https://www.gainesville.com/news/20200130/gpd-police-didnrsquot-leak-auditor-documentsThis story describes how an auditor had medical documents leaked and believed that the Gainesville Police were the ones who released his information. After an internal investigation, GPD revealed that internally they were not at fault.
The problem presented in this story is data protection.
Every American is affected by this because everyone has personal information that can easily be hacked and stolen.
Effort Raises 50k for injured UF student
https://www.gainesville.com/news/20200129/effort-raises-50k-for-injured-uf-student
This story describes how a UF student got injured after falling from a parking garage and needed money to pay for bills. His parents set a goal of 55k and were able to raise 50k of it already.
The problem presented is being able to raising money for a cause
This problem effects those who want to fundraise any sort of way to get money for an organization or person.
As Clarence Thomas arrives to teach, some students protest
https://www.gainesville.com/news/20200127/as-clarence-thomas-arrives-to-teach-some-students-protest
Clarence Thomas is a US supreme court justice who was invited to teach a two week course related to law. Some students are protesting against this because he was accused of sexual assault.
The problem being presented is conflicting opinions on a speaker
This problem occurs a lot on campus where people have conflicting opinions about each other and are very passionate about it
Lane Ranger Why are four lanes slower than two
https://www.gainesville.com/news/20200126/lane-ranger-why-are-four-lanes-slower-than-two
State Road 20 causing some confusion in many local residents as the speed limits are changing
The problem being presented is bad communication between local government and residents
This problem effects everyone in Gainesville as the local government is having communication problems with them
Expanding Disability Resource Expo Brings Info To Families
https://www.gainesville.com/news/20200126/expanding-disability-resource-expo-brings-info-to-families
There are a lot of families with a child with a disability that come together for the annual resource expo. This is a great opportunity for families to communicate with each other and find out any information they need.
The problem being presented is having more information about how to raise a child with a disability
This problem effects every parent with a child with a disability
Forming an Opportunity
1. The older generations of people need a phone that is made for them.
2. This unmet need arose because the most popular options for phones are difficult to use for some people. The need is for a phone that is very easy to use and accessible for older people. Phones are hard to use if you are not used to it, and it can cause problems of frustration for those that find it difficult. Currently, there are software programs people are using to dumb down phones. I am 70% sure this opportunity exists.
3. The protypical customer would be someone between the ages of 60-80
4. The first protypical customer I am going to interview is my grandma.
I asked my grandma the following questions and added her answers below.
5. I learned that my grandma is very interested in the opportunity as she is having a lot of difficulty using her phone. She grew up in a time where they did not use as much electronics as we do and is very confused with anything too technological. I think asking other people her age would really help to find out if other people are experiencing it as well.
Next, I interviewed my grandma's friend Barbara
I decided to ask my grandpa the same set of questions and added his answers below.
What is the exact nature of the need?
I am having trouble using my iphone and want something easier to use
When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?
I experience the need whenever I try to text someone I cant figure it out
How long have they had the need?
I have had the need for a year now
When did they first become aware of their need? Why?
I first became aware of the need today once you mentioned it, I didnt think it was a big deal until now
How are they currently addressing their need?
I am not doing anything to adress my need
How satisfied are they with this solution?
2. This unmet need arose because the most popular options for phones are difficult to use for some people. The need is for a phone that is very easy to use and accessible for older people. Phones are hard to use if you are not used to it, and it can cause problems of frustration for those that find it difficult. Currently, there are software programs people are using to dumb down phones. I am 70% sure this opportunity exists.
3. The protypical customer would be someone between the ages of 60-80
4. The first protypical customer I am going to interview is my grandma.
I asked my grandma the following questions and added her answers below.
What is the exact nature of the need?
My current iphone is too hard to use because of how complicated it is
When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?
I experience the need almost every time I use my phone
How long have they had the need?
I have had the need since I got the phone
When did they first become aware of their need? Why?
Once I became very fustrated with how hard it was to place a simple phone call, I want something thats easier to use and still up to date
How are they currently addressing their need?
I am searching for new phones that are easier to use
How satisfied are they with this solution?
I am still in the process of shopping for a new phone5. I learned that my grandma is very interested in the opportunity as she is having a lot of difficulty using her phone. She grew up in a time where they did not use as much electronics as we do and is very confused with anything too technological. I think asking other people her age would really help to find out if other people are experiencing it as well.
Next, I interviewed my grandma's friend Barbara
What is the exact nature of the need?
I need a way to contact my friends
When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?
I experience it anytime I want to talk to my friends
How long have they had the need?
I have always had the need
How are they currently addressing their need?
I am not doing anything to address my need
How satisfied are they with this solution?
Not satisfiedI decided to ask my grandpa the same set of questions and added his answers below.
What is the exact nature of the need?
I am having trouble using my iphone and want something easier to use
When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?
I experience the need whenever I try to text someone I cant figure it out
How long have they had the need?
I have had the need for a year now
When did they first become aware of their need? Why?
I first became aware of the need today once you mentioned it, I didnt think it was a big deal until now
How are they currently addressing their need?
I am not doing anything to adress my need
How satisfied are they with this solution?
I am not satisfied
5. My grandpa seems to be having the same issue as my grandma. It seems like he also wants to have a more simple device to be able to call people and use as a phone. He thinks the current phones are too complicated and wants something easy. He is used to a lot more simple tools.
7. How much of your original opportunity is still there?
I think after doing this minimal research that there is a pretty big opportunity out there to make phones designed for older people.
Do you believe that your new opportunity is more accurate than when you started?
Yes, I think now that the opportunity is more accurate than when I started. It seems like a lot of older people would be interested given my grandparents are an accurate representation for them.
How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback? (In other words, is there a trade-off between adapting and staying firm?)
I think after doing this minimal research that there is a pretty big opportunity out there to make phones designed for older people.
Do you believe that your new opportunity is more accurate than when you started?
Yes, I think now that the opportunity is more accurate than when I started. It seems like a lot of older people would be interested given my grandparents are an accurate representation for them.
How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback? (In other words, is there a trade-off between adapting and staying firm?)
Find Rubric
Entrepreneurship Story - Emoji Bracelets
One day at lunch, my uncle randomly told me he was going to start selling emoji bracelets. I was confused at first, but once he explained how holiday season is about to start and people are looking for great gift ideas. I was very interested and told him I would help him start selling these emoji bracelets. After we designed the product, I started selling it through ebay and amazon. It was an instant hit! We designed our own website for it and started selling them through the website as well. This lasted about a couple months of steady traffic until the fad eventually fell short and we stopped selling them. It was a very good experience and a great opportunity for me to learn more about starting my own business.
I enrolled in ENT3003 because I am very interested in becoming an entrepreneur one day. I look to my uncle as inspiration as he is a serial entrepreneur himself. He has inspired me to want to start my own company once I gain some more knowledge and experience. I hope to gain some skills that are pivotal in growing my career. I am interested in learning more about how to be an entrepreneur and what is necessary to be able to start your own business.
Subscribe to:
Posts (Atom)