1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
This was an amazing article to read as the narrator was able to explain the chronicles of his start-up. It reinforces the notion that there will certainly be setbacks that each individual will face in unique ways. The journey will be tough for many, but only those who truly envision the value of their concept will be able to succeed. I also laud his efforts for only lending to women because the research itself shows that they reinvest better than men.
2) Identify at least one part of the reading that was confusing to you.
There wasn't anything confusing in this article. In fact, my favorite part in this article was when it stated, "I launched SKS in 1998 to build that next-generation microfinance company. I remember early on walking down a dusty road in a remote drought-prone region of India, looking for potential customers...[I] came upon a group of women...and explained that I was starting a microfinance program and could bring collateral-free loans right to their doorstep. “You can start small businesses and get out of poverty,” I said. The women met my pitch with silence and probably some skepticism, but one had a sparkle in her eye. That woman was Saryamma."
3) If you were able to ask two questions to the author, what would you ask? Why?
Not everyone is able to receive donations from family and friends in order to start up their business venture.
So, how can an entrepreneur reasonably come up with enough funds to start up his or her own venture if they lack a stable, reliable source of funding from family and friends?
I love how the article detailed the story of an entrepreneur starting at the base of the pyramid because it highlights the idea of modesty.
That being said, how essential is it to maintain a prime focus on the base of the pyramid before ultimately focusing on the needs of the "higher ups"?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
Since this was a personal anecdote, there wasn't anything necessarily to disagree with, nor was there anything that the author stated falsely.
Sunday, April 24, 2016
Final Reflection
This was an amazing experience to be a part of as it pushed me past comfort zone. I'll never forget the hilarious moment when I went to my friend's neighborhood and started to ask random strangers about an idea that was beyond the scope of their imagination. Some thought it already existed, some were intrigued to hear more. After that experience, I knew from that day on that I could possibly be on to something. There were also lows, moments when I felt sluggish and unwilling to do what's next. The lows were memorable because they reminded me that the only person stopping myself from success is, ultimately, myself.
This class taught me the importance of reaching out and receiving valuable, critical feedback. There is no one way street when it comes to having an entrepreneurial mindset. In other words, the receiver is influential in decision-making as the sender is when it comes to the final product. I'm most proud of my ability to come up a viable concept that serves an utilitarian purpose. It's cost effective and consumer friendly by allowing the user more flexibility in a culture embedded in individuality.
I definitely have moved closer to developing an entrepreneurial mindset because I'm starting to be more aware of opportunities that could be capitalized upon. Fortunately, most people let others create solutions for them. That person is normally the entrepreneur. By believing that I have the talent to create something innovative, I know that I'm capable of running my own start up venture one day. If I could recommend something to students who are going down this path for the future I would say: remain central to your creative expression and never compromise. As an entrepreneur, you're the one that establishes the trend in which the consumers will follow. Essentially, forcing the change.
To perform well in this class, you must do your weekly assignments before the due date. Trying to complete assignments on the due date will always be frowned up and cause you unnecessary stress. When you don't give your brain a chance to fully understand the assignments that's given in this class, you end up with a half-hearted piece of work. Stay in the loop and attempt all assignments, even if the due date has passed. Feedback is always welcomed and appreciated in this course because you can adapt and fine-tune your idea.
This class taught me the importance of reaching out and receiving valuable, critical feedback. There is no one way street when it comes to having an entrepreneurial mindset. In other words, the receiver is influential in decision-making as the sender is when it comes to the final product. I'm most proud of my ability to come up a viable concept that serves an utilitarian purpose. It's cost effective and consumer friendly by allowing the user more flexibility in a culture embedded in individuality.
I definitely have moved closer to developing an entrepreneurial mindset because I'm starting to be more aware of opportunities that could be capitalized upon. Fortunately, most people let others create solutions for them. That person is normally the entrepreneur. By believing that I have the talent to create something innovative, I know that I'm capable of running my own start up venture one day. If I could recommend something to students who are going down this path for the future I would say: remain central to your creative expression and never compromise. As an entrepreneur, you're the one that establishes the trend in which the consumers will follow. Essentially, forcing the change.
To perform well in this class, you must do your weekly assignments before the due date. Trying to complete assignments on the due date will always be frowned up and cause you unnecessary stress. When you don't give your brain a chance to fully understand the assignments that's given in this class, you end up with a half-hearted piece of work. Stay in the loop and attempt all assignments, even if the due date has passed. Feedback is always welcomed and appreciated in this course because you can adapt and fine-tune your idea.
Sunday, April 10, 2016
Week 13 Reading Reflection
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The biggest surprise in this chapter was reading the due diligence section, which highlighted an entrepreneur's role of thoroughly analyzing every facet of an existing business if he or she plans to acquire it. The author provided extensive detail in regards to the major features that are critical to know in a potential candidate for acquisition.
2) Identify at least one part of the reading that was confusing to you.
One part of the reading that was confusing was the pricing formula.
3) If you were able to ask two questions to the author, what would you ask? Why?
What are some companies that currently exist in a particular industry that would be better off if they rolled up? It always interesting to see news of companies merging together, like the merger of Cingular & At&t, or T-Mobile and MetroPcs.
What are the best ways to obtain an objective valuation of your own start-up? Emotional biases play a huge factor in the downfalls of most entrepreneurs' start-ups.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No, there wasn't anything to disagree about in this chapter as the information provided was backed by research and studies.
The biggest surprise in this chapter was reading the due diligence section, which highlighted an entrepreneur's role of thoroughly analyzing every facet of an existing business if he or she plans to acquire it. The author provided extensive detail in regards to the major features that are critical to know in a potential candidate for acquisition.
2) Identify at least one part of the reading that was confusing to you.
One part of the reading that was confusing was the pricing formula.
3) If you were able to ask two questions to the author, what would you ask? Why?
What are some companies that currently exist in a particular industry that would be better off if they rolled up? It always interesting to see news of companies merging together, like the merger of Cingular & At&t, or T-Mobile and MetroPcs.
What are the best ways to obtain an objective valuation of your own start-up? Emotional biases play a huge factor in the downfalls of most entrepreneurs' start-ups.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No, there wasn't anything to disagree about in this chapter as the information provided was backed by research and studies.
Celebrating Failure
1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time.
Something that I failed at this semester would have to be business finance. I thought it was just "another class" that was purely hyped up in terms of difficulty. As it turned out, the class was even more challenging than I had originally anticipated. And although I had aced the quizzes and kept up with the weekly readings we were assigned, I still ended up having to drop the class due to failing the first exam...horribly.
2) Tell us what you learned from it.
I learned two things from that experience: repetition and being organized are two essential keys to success. Its not enough to just read something once or watch a lecture and assume that you "got it." It takes repeated efforts to make sure you understand the subject thoroughly. As the TAs and the professor himself mentioned, practice, practice, practice, and then...practice some more. I disregarded that advice and, consequently, I paid the price by having to withdraw. Being organized is more than nailing the due dates of assignments and not looking back. It's about the steps you take in order to become knowledgeable and prepared. In hindsight, I was in disarray as I tried to cram my studying in for not just business finance, but for my other classes, too. This meant that I wasn't able to put forth my full effort into my assignments as I was forced to pick and choose which assignments were top priority. This, needless to say, lead to undesirable results and further pushed me to drop the course.
3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were four months ago?
Failure is a tough pill to swallow, but it truly does help at causing you to evaluate ways in which you could avoid repeating the same mistakes twice. In addition, it's humbling and requires you to approach a situation in a more open-minded way. For example, Thomas Edison discovered one way in which he could light a bulb. But the history of lightbulbs doesn't end there. In other words, its important to approach situations with an inclusive mindset.
Honestly, I don't handle failure well. I'm my own worst enemy, so I harshly criticize myself when I fail. It forces me to reevaluate my priorities, and also, causes me to think about ways in which I save myself from the embarrassment of failure. By taking this class, I've learned to take more risks and to be more confident.
Something that I failed at this semester would have to be business finance. I thought it was just "another class" that was purely hyped up in terms of difficulty. As it turned out, the class was even more challenging than I had originally anticipated. And although I had aced the quizzes and kept up with the weekly readings we were assigned, I still ended up having to drop the class due to failing the first exam...horribly.
2) Tell us what you learned from it.
I learned two things from that experience: repetition and being organized are two essential keys to success. Its not enough to just read something once or watch a lecture and assume that you "got it." It takes repeated efforts to make sure you understand the subject thoroughly. As the TAs and the professor himself mentioned, practice, practice, practice, and then...practice some more. I disregarded that advice and, consequently, I paid the price by having to withdraw. Being organized is more than nailing the due dates of assignments and not looking back. It's about the steps you take in order to become knowledgeable and prepared. In hindsight, I was in disarray as I tried to cram my studying in for not just business finance, but for my other classes, too. This meant that I wasn't able to put forth my full effort into my assignments as I was forced to pick and choose which assignments were top priority. This, needless to say, lead to undesirable results and further pushed me to drop the course.
3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were four months ago?
Failure is a tough pill to swallow, but it truly does help at causing you to evaluate ways in which you could avoid repeating the same mistakes twice. In addition, it's humbling and requires you to approach a situation in a more open-minded way. For example, Thomas Edison discovered one way in which he could light a bulb. But the history of lightbulbs doesn't end there. In other words, its important to approach situations with an inclusive mindset.
Honestly, I don't handle failure well. I'm my own worst enemy, so I harshly criticize myself when I fail. It forces me to reevaluate my priorities, and also, causes me to think about ways in which I save myself from the embarrassment of failure. By taking this class, I've learned to take more risks and to be more confident.
Wednesday, April 6, 2016
My Exit Strategy
1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
I plan on staying with my business for several decades. I can't picture selling my business to another company unless I was entirely sure that they would be able to maintain the core values of my organization. In the time-span of several decades, I could envision myself diversifying my organization into different ventures, like, for example, QuikPay Go, which would allow the consumer the convenience of ordering their favorite meals from home and being able to pick up their customized order at a set time. I would shift my company into data analytics and cloud computing because I believe it would allow my company to predict new trends; furthermore, it would allow my R&D department the opportunity to create new products and services, akin to the vision of Google's parent company, Alphabet Inc.
2) Why have you selected this particular exit strategy?
I selected this particular exit strategy because it allows my company to grow. As I mentioned in an earlier post, no company survives without a constant reinvention of its services or products. By delving into data analytics, my company will be better adept at gauging customers' behaviors, and finding opportunities that other companies may miss. At the same time, my company will be able to function and thrive without my input after I retire.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
Yes, my exit strategy has influenced the ways I identify opportunities. Opportunities don't exist, for the most part, in a vacuum. It involves insight, intuition, and innovation. That being said, it's important to gather the feedback of potential customers before investing into a product or service. Analyzing what the customers suggests plays a key role in determining the feasibility of your idea. However, sometimes the consumer does not know what it wants until you invent it. So, my company will oftentimes create new services or products and see how the consumer reacts to it.
Sunday, April 3, 2016
Week 12 Reading Reflection
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
I liked reading about the one-person-band syndrome because it's a characteristic that I sometimes fall victim to. I have a habit of trying to do everything by myself, instead of delegating tasks to other members. It was great to read about the ways in which I could further communicate with others and attempt to reduce my workload.
2) Identify at least one part of the reading that was confusing to you.
There wasn't anything confusing in this chapter but if I had to choose it would be the section involving the entrepreneurial mindset.
3) If you were able to ask two questions to the author, what would you ask? Why?
What's the best type of leadership role to take: Strategic, Visionary, or Managerial?
Many leader fail to adapt to the ever changing industry in which they operate. Therefore, I'm curious as to which one would provide the most utility in the long run.
What are the key points to take away in a SWOT analysis? How much time or resources should be spent on addressing a particular internal/external issue before moving on to the next?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No, there was nothing in this chapter that I disagreed about.
I liked reading about the one-person-band syndrome because it's a characteristic that I sometimes fall victim to. I have a habit of trying to do everything by myself, instead of delegating tasks to other members. It was great to read about the ways in which I could further communicate with others and attempt to reduce my workload.
2) Identify at least one part of the reading that was confusing to you.
There wasn't anything confusing in this chapter but if I had to choose it would be the section involving the entrepreneurial mindset.
3) If you were able to ask two questions to the author, what would you ask? Why?
What's the best type of leadership role to take: Strategic, Visionary, or Managerial?
Many leader fail to adapt to the ever changing industry in which they operate. Therefore, I'm curious as to which one would provide the most utility in the long run.
What are the key points to take away in a SWOT analysis? How much time or resources should be spent on addressing a particular internal/external issue before moving on to the next?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No, there was nothing in this chapter that I disagreed about.
Sunday, March 27, 2016
Amazon Whisperer
1. Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money.
Revenue drivers for my product would come from advertisements and the franchises paying a specified fee for tailoring my product according to their consumers' predicted behaviors.
2. Describe what kind of product offering you believe should be next. What's the next thing your customers want?
Since my product is an app, I can offer the next thing my customers would want via software updates. The next big thing would allow the customer to upload and share their favorite customized meals and/or drinks onto social media. Since food is already constantly uploaded onto sites like Instagram and Facebook, users of the app will feel compelled to show off their latest creation.
3. Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
This next thing will enhance the features of my current offering by implementing a social aspect to the app. This improves the user experience by giving him/her the chance to visualize other potential food creations.
4. Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.
First, it was believed that 3D TVs would be the next big thing. Now, virtual reality is currently marketed as the next big thing for consumers. Its described as a device that puts the consumer right into the action. Its immersive and allows the user "watch Hollywood's best movies in [their] own private cinema."
4. What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
Majority of the customers who reviewed this product gave rave reviews. Most of the reviews stated the following as pros and cons:
Pros
1) Affordability
2) Decent Amount of content
3) Easy to set-up
4) User friendly interface
Cons
1) Video quality can be grainy or disorienting
2) After long periods of use, it can become fatiguing on the eyes
3) "Having a cell phone at your head"
5. Describe what design/usability changes you'd make to the product.
Based on the feedback, I would upgrade the processing chip of the VR to improve the video quality of the content. I would partner up with companies like Hulu, Disney, or Marvel, to improve the amount of content available to the user. Lastly, I would talk to engineers on ways to lessen the impact of virtual reality headsets on the consumers' eyes.
6. Describe why you think this product would make a good addition to your current product/service offering.
Due to the fact that it is inadvisable for users to use VR while in a vehicle, there is currently no way in which it is possible to combine the two products. Quikpay is a mobile payment service that allows the customer to utilize a franchise's menu options. However, I'm pretty sure that the franchises that I'm in contract with will attempt to create an application on the VR headset that will allow the consumer to visualize the possibilities.
Revenue drivers for my product would come from advertisements and the franchises paying a specified fee for tailoring my product according to their consumers' predicted behaviors.
2. Describe what kind of product offering you believe should be next. What's the next thing your customers want?
Since my product is an app, I can offer the next thing my customers would want via software updates. The next big thing would allow the customer to upload and share their favorite customized meals and/or drinks onto social media. Since food is already constantly uploaded onto sites like Instagram and Facebook, users of the app will feel compelled to show off their latest creation.
3. Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
This next thing will enhance the features of my current offering by implementing a social aspect to the app. This improves the user experience by giving him/her the chance to visualize other potential food creations.
4. Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.
First, it was believed that 3D TVs would be the next big thing. Now, virtual reality is currently marketed as the next big thing for consumers. Its described as a device that puts the consumer right into the action. Its immersive and allows the user "watch Hollywood's best movies in [their] own private cinema."
4. What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
Majority of the customers who reviewed this product gave rave reviews. Most of the reviews stated the following as pros and cons:
Pros
1) Affordability
2) Decent Amount of content
3) Easy to set-up
4) User friendly interface
Cons
1) Video quality can be grainy or disorienting
2) After long periods of use, it can become fatiguing on the eyes
3) "Having a cell phone at your head"
5. Describe what design/usability changes you'd make to the product.
Based on the feedback, I would upgrade the processing chip of the VR to improve the video quality of the content. I would partner up with companies like Hulu, Disney, or Marvel, to improve the amount of content available to the user. Lastly, I would talk to engineers on ways to lessen the impact of virtual reality headsets on the consumers' eyes.
6. Describe why you think this product would make a good addition to your current product/service offering.
Due to the fact that it is inadvisable for users to use VR while in a vehicle, there is currently no way in which it is possible to combine the two products. Quikpay is a mobile payment service that allows the customer to utilize a franchise's menu options. However, I'm pretty sure that the franchises that I'm in contract with will attempt to create an application on the VR headset that will allow the consumer to visualize the possibilities.
Wednesday, March 23, 2016
My Unfair Advantage
1. Accountability: My product requires consumers' trust and a willingness to input their credit card information for payment. My venture will have a constant team of engineers working on ways to improve the strengthen my app. In other words, in light of recent hacking attempts across the globe, my product can be trusted in the hands of the consumer.
2. Accessibility/Simplicity: Upon opening the app, the user will be able to seamlessly interact with the app and choose in detail what type of menu items they would like. This is where companies like Apple succeed because of the ease of their products. That being said, my product will be accessible for all users to understand.
3. Accommodation: My product will be used by a diverse range of consumers coming from various cultural and economical backgrounds, so it would be imperative for the app to adapt to each unique customers' need by analyzing the customers purchasing history.
4. Utility: No longer dependent on an employee at the drive-thru, the consumer is free to experiment with whatever the franchise has to offer. Ever wanted to try a "flop" (a Miami term meaning half lemonade, half iced tea)? The consumer is able to go beyond the usual one menu fits all approach.
5. Decentralization: My venture will be less concerned about titles and positions of power, but instead, more focused on bringing together our collective solutions and ideas to better serve the consumer. Too many companies are stuck in that traditional 20th century way of doing business, unknowingly blocking talented people at the bottom from the getting the opportunity to express their ideas.
6. Awareness: In order for my product to work, it utilizes NFC technology, which allows it to transit information back and forth between the consumers phone and the franchise restaurant. The app must be aware of any consumer trends in food preferences like GMOs or Gluten free options. The app will also attempt to save the consumer money by displaying location exclusive savings that vary.
7. Energetic: It's never safe to become complacent. This is especially true in the app world where they are many apps with original ideas that are, sooner or later, imitated and marketed as the next big thing. My team will consistently find ways on expanding in more areas than just the drive-thru.
8. Marketability: A good product means nothing if its not able to capture the consumers' attention. Providing consistent marketing campaigns that resonate with the consumer is the one and only goal. As my product becomes more marketable, corporations will want to form a strategic alliance in order to find ways of tapping into the consumers' preferences.
9. Driven: My start-up will be staffed with individuals who share the same vision as I do. We will be ambitious in our goals of reaching a global audience. We will be resourceful and monitor potential opportunities that could expand our reach.
10. Idealistic: No company ever succeeds, and continues to do so, without thinking outside the box and being willing to face failure. My venture will attempt to solve consumers annoyances in ways that others wouldn't attempt. We will set the trend in which the competition will try to follow.
Being idealistic is the top resource for my company because it allows experimentation and feedback from the consumer. This, ultimately, allows my company to grow and be receptive of what the consumer wants.
2. Accessibility/Simplicity: Upon opening the app, the user will be able to seamlessly interact with the app and choose in detail what type of menu items they would like. This is where companies like Apple succeed because of the ease of their products. That being said, my product will be accessible for all users to understand.
3. Accommodation: My product will be used by a diverse range of consumers coming from various cultural and economical backgrounds, so it would be imperative for the app to adapt to each unique customers' need by analyzing the customers purchasing history.
4. Utility: No longer dependent on an employee at the drive-thru, the consumer is free to experiment with whatever the franchise has to offer. Ever wanted to try a "flop" (a Miami term meaning half lemonade, half iced tea)? The consumer is able to go beyond the usual one menu fits all approach.
5. Decentralization: My venture will be less concerned about titles and positions of power, but instead, more focused on bringing together our collective solutions and ideas to better serve the consumer. Too many companies are stuck in that traditional 20th century way of doing business, unknowingly blocking talented people at the bottom from the getting the opportunity to express their ideas.
6. Awareness: In order for my product to work, it utilizes NFC technology, which allows it to transit information back and forth between the consumers phone and the franchise restaurant. The app must be aware of any consumer trends in food preferences like GMOs or Gluten free options. The app will also attempt to save the consumer money by displaying location exclusive savings that vary.
7. Energetic: It's never safe to become complacent. This is especially true in the app world where they are many apps with original ideas that are, sooner or later, imitated and marketed as the next big thing. My team will consistently find ways on expanding in more areas than just the drive-thru.
8. Marketability: A good product means nothing if its not able to capture the consumers' attention. Providing consistent marketing campaigns that resonate with the consumer is the one and only goal. As my product becomes more marketable, corporations will want to form a strategic alliance in order to find ways of tapping into the consumers' preferences.
9. Driven: My start-up will be staffed with individuals who share the same vision as I do. We will be ambitious in our goals of reaching a global audience. We will be resourceful and monitor potential opportunities that could expand our reach.
10. Idealistic: No company ever succeeds, and continues to do so, without thinking outside the box and being willing to face failure. My venture will attempt to solve consumers annoyances in ways that others wouldn't attempt. We will set the trend in which the competition will try to follow.
Being idealistic is the top resource for my company because it allows experimentation and feedback from the consumer. This, ultimately, allows my company to grow and be receptive of what the consumer wants.
Sunday, March 20, 2016
Week 10 Reading Reflection
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
What stood out to me the most was the pro forma statements because I've never heard of them until I read the chapter.
2) Identify at least one part of the reading that was confusing to you.
Nothing was really confusing because it was self-explanatory. This chapter was a reiteration of the core accounting and financial principles that any entrepreneur must remember.
3) If you were able to ask two questions to the author, what would you ask? Why?
I would ask the author the following two questions:
From a long term perspective, how will American businesses thrive in an economy in which the dollar is not the reserve currency? China is a major international player in the global economy, so I believe it's only a matter of time until foreigners, like China, start to switch to the Euro. I'm curious about the impacts of such a switch.
What are the top five ways in which a start-up venture could protect itself from falling victim to the "failing within the first year or two" myth? It is important to keep, in my opinion, a consistent set of values that keep your company from falling a part, so the author's top five would be beneficial to hear.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No, there wasn't anything I disagreed about in the chapter. In fact, my favorite part of the chapter was the global perspective: when currency loses its global value.
Wednesday, March 16, 2016
Elevator Pitch 3
This time I decided to be more relaxed and just go with the flow. I incorporated all of the feedback I was given by explaining more clearly what my product does and how it addresses the consumers' needs. The feedback was generally recommending that I make sure that I'm marketing my product in a effective way that captures the investors' attention. I decided to use my hands to convey my message just a little bit more to feel relaxed.
Sunday, March 13, 2016
Week 9 Reading Reflection
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
This chapter reminded me of a lot of the things that were mentioned in my marketing class. However, something that stood out to me was the mobile marketing section, which went into more depth on how to integrate, individualize, involve, and initiate. These concepts form the four Is and create a comprehensive strategy on how to utilize mobile social media.
2) Identify at least one part of the reading that was confusing to you.
This chapter wasn't hard to understand, but I would have to say that the affiliate model for pricing in the social media age is confusing. I would have liked to see more examples of what the affiliate model represents.
3) If you were able to ask two questions to the author, what would you ask? Why?
I would ask the author, what's the best model to use for social media pricing? Facebook and other apps have earned millions from the freemium model and still continue to do so. How much should be offered for free before it becomes unprofitable?
In your opinion, what are some companies that could use some new marketing techniques in order to revamp their image? I feel like Chipotle is a company that could use a new marketing scheme to attract some of the consumers that it definitely lost from the health scare. BlueBell is another company that comes to mind when I think of changing marketing strategies.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
This was an informative chapter, so I felt as if the information provided was unbiased and objective. The author outlined steps and solutions on how to address marketing in the digital age. The resources he offered were, in my opinion, credible and backed by evidence.
This chapter reminded me of a lot of the things that were mentioned in my marketing class. However, something that stood out to me was the mobile marketing section, which went into more depth on how to integrate, individualize, involve, and initiate. These concepts form the four Is and create a comprehensive strategy on how to utilize mobile social media.
2) Identify at least one part of the reading that was confusing to you.
This chapter wasn't hard to understand, but I would have to say that the affiliate model for pricing in the social media age is confusing. I would have liked to see more examples of what the affiliate model represents.
3) If you were able to ask two questions to the author, what would you ask? Why?
I would ask the author, what's the best model to use for social media pricing? Facebook and other apps have earned millions from the freemium model and still continue to do so. How much should be offered for free before it becomes unprofitable?
In your opinion, what are some companies that could use some new marketing techniques in order to revamp their image? I feel like Chipotle is a company that could use a new marketing scheme to attract some of the consumers that it definitely lost from the health scare. BlueBell is another company that comes to mind when I think of changing marketing strategies.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
This was an informative chapter, so I felt as if the information provided was unbiased and objective. The author outlined steps and solutions on how to address marketing in the digital age. The resources he offered were, in my opinion, credible and backed by evidence.
My Secret Sauce
1) Describe five ways in which you think you have human capital that is truly unique. What is it about you, exactly, that makes you different? Write this up in a detailed list.
I would have to say that I'm extremely ambitious. I normally tend to veer away from the status quo because it's boring to keep things the same. That being said, I'm always looking for ways in which I could push or innovate myself.
I'm more optimistic than the average person. Before I decided to transfer into UF, I had a lot of people telling me that I wouldn't have the requirements needed to get accepted. But I choose to ignore them and stay focused on improving myself and refraining from any negative self-talk. My optimism spreads from myself to the people that I'm around.
I have an achievement-oriented personality. Most of my coworkers would say that whenever I'm given a task, I focus solely on it so I could give it my full attention.
I'm realistic and practical. "Matter-of-fact" persona - I pay close attention to detail. I like to improve my skills by following closely to the way "things are supposed to be."
I'm open-minded and willing to see things from a different perspective. I would describe myself as rational because I know that I don't have all the answers, so I always ask for others opinion on something before starting on a project.
2) Interview the five people who know you the best.
I have a keen sense of what's going on around me and I think that's something employers would love to have on their workforce. I agree with this because I'm always on my phone looking up current events.
Some people require a "push" in order to strive towards a goal. I'm really diligent when it comes to completing an assignment or task.
Being strong-minded and determined are two traits that are necessary to thrive in the workforce. I agree with what she was saying because there have been times where I've been forced to think outside of the box.
Confidence is another trait that managers value in an employee. I agree with this statement because I always remain assertive when I'm attempting to persuade someone about an idea or subject.
All the qualities described in this clip are important to have as human capital. These qualities are central to becoming your own leader one day.
3) Reflect on the differences.
There weren't any differences from what I described in the first list. All the people I interviewed said similar statements regarding what makes me unique. Human capital is something that we all bring to the table in our own individual way because we have unique talents and experiences that have ultimately shaped us.
I would have to say that I'm extremely ambitious. I normally tend to veer away from the status quo because it's boring to keep things the same. That being said, I'm always looking for ways in which I could push or innovate myself.
I'm more optimistic than the average person. Before I decided to transfer into UF, I had a lot of people telling me that I wouldn't have the requirements needed to get accepted. But I choose to ignore them and stay focused on improving myself and refraining from any negative self-talk. My optimism spreads from myself to the people that I'm around.
I have an achievement-oriented personality. Most of my coworkers would say that whenever I'm given a task, I focus solely on it so I could give it my full attention.
I'm realistic and practical. "Matter-of-fact" persona - I pay close attention to detail. I like to improve my skills by following closely to the way "things are supposed to be."
I'm open-minded and willing to see things from a different perspective. I would describe myself as rational because I know that I don't have all the answers, so I always ask for others opinion on something before starting on a project.
2) Interview the five people who know you the best.
I have a keen sense of what's going on around me and I think that's something employers would love to have on their workforce. I agree with this because I'm always on my phone looking up current events.
Some people require a "push" in order to strive towards a goal. I'm really diligent when it comes to completing an assignment or task.
Being strong-minded and determined are two traits that are necessary to thrive in the workforce. I agree with what she was saying because there have been times where I've been forced to think outside of the box.
Confidence is another trait that managers value in an employee. I agree with this statement because I always remain assertive when I'm attempting to persuade someone about an idea or subject.
All the qualities described in this clip are important to have as human capital. These qualities are central to becoming your own leader one day.
3) Reflect on the differences.
There weren't any differences from what I described in the first list. All the people I interviewed said similar statements regarding what makes me unique. Human capital is something that we all bring to the table in our own individual way because we have unique talents and experiences that have ultimately shaped us.
Sunday, March 6, 2016
Idea Napkin No. 2
1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
I am a person of integrity. I am someone who often goes beyond the mark to satisfy what others' want, which is both a positive and negative characteristic. My talent would have to be that I'm more emotionally inclined than others; thus, allowing myself to carefully gauge someone's attitude or behavior towards something or someone (No, I'm not a psychic).
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
With the helpful input of Skylar, my product is an app that allows customers the convenience of, while at the drive-thru, using their smartphone to utilize the entire franchise's menu and customizing their order. The app will use Near Field Communication to gather information (deals, specials, payment) from the franchise and sending it to the user's phone.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
This product is targeted to consumers who enjoy the added benefit of not having to awkwardly speak to a sometimes working drive thru speaker or, deal with a limited menu option that doesn't fully show what's offered. The Drive-Thru menu at Sonic's has a ton of menu items on display that causes confusion and increased wait-times as opposed to streamlining their offerings. In a sense, I'm offering an app that seeks to ease or eliminate the inefficiencies of both businesses and consumers.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
As I mentioned in my previous Idea Napkin, customers love options. I don't believe that they is an one approach fits all solution. In a way, it's similar to variety of options that consumers are presented with: McDonald's to Burger King, Samsung to Apple, and Google to Bing. Consumers will care for my app because it expands past the traditional menu and allows greater freedom to individualize.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? `
I'm willing to pursue my dreams till I cant anymore, so I think that kind of sums me up. I'm a hard working individual who loves working with others to gather their input and feedback.
All of these elements fit with my product offering because it caters to my mission statement and vision. My product aims to bring the 21st century to the drive thru area by simplifying the experience for the user. Eventually, my app will reshape the ordering system when customers come inside to order their foods. The central focus remains on the customers, which ensures that the offerings displayed are driven exclusively by the needs of the customer.
Top Feedback
I am a person of integrity. I am someone who often goes beyond the mark to satisfy what others' want, which is both a positive and negative characteristic. My talent would have to be that I'm more emotionally inclined than others; thus, allowing myself to carefully gauge someone's attitude or behavior towards something or someone (No, I'm not a psychic).
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
With the helpful input of Skylar, my product is an app that allows customers the convenience of, while at the drive-thru, using their smartphone to utilize the entire franchise's menu and customizing their order. The app will use Near Field Communication to gather information (deals, specials, payment) from the franchise and sending it to the user's phone.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
This product is targeted to consumers who enjoy the added benefit of not having to awkwardly speak to a sometimes working drive thru speaker or, deal with a limited menu option that doesn't fully show what's offered. The Drive-Thru menu at Sonic's has a ton of menu items on display that causes confusion and increased wait-times as opposed to streamlining their offerings. In a sense, I'm offering an app that seeks to ease or eliminate the inefficiencies of both businesses and consumers.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
As I mentioned in my previous Idea Napkin, customers love options. I don't believe that they is an one approach fits all solution. In a way, it's similar to variety of options that consumers are presented with: McDonald's to Burger King, Samsung to Apple, and Google to Bing. Consumers will care for my app because it expands past the traditional menu and allows greater freedom to individualize.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? `
I'm willing to pursue my dreams till I cant anymore, so I think that kind of sums me up. I'm a hard working individual who loves working with others to gather their input and feedback.
All of these elements fit with my product offering because it caters to my mission statement and vision. My product aims to bring the 21st century to the drive thru area by simplifying the experience for the user. Eventually, my app will reshape the ordering system when customers come inside to order their foods. The central focus remains on the customers, which ensures that the offerings displayed are driven exclusively by the needs of the customer.
Top Feedback
- "That would be incredibly convenient as the person in front of you orders you would be able to place your order in to assist in eliminating time from the process." - Skylar Busch
I decided to make sure I noted in this Idea Napkin the implementation of NFC technology, which allows cars behind the person ordering to also be able to order.
- What if when the customer pulled in the drive-thru that the app would pull up special offers based on the customers buying habits. - Keith Bailey
The app will tailor to each unique customer and suggest special offers and deals.
- I think if you teamed up with certain drive-thru restaurants they might cut you in on a percentage based on how many repeat customers you brought back - Keith Bailey
I can see myself forming a strategic partnership with some fast food restaurant to offer even more incentives for return customers.
- How is the phone connecting and does that connection leave it open to attack from someone outside the restaurant? - Kamil Jackson-Chaka
The same technology used in iPhones and Androids, Near Field Communication, will be used for submitting and paying for the orders.
- Could it be activated by someone with a Wi-Fi router or Bluetooth transmitter at any time? - Kamil Jackson-Chaka
Sunday, February 28, 2016
Week 8 Reading Reflection
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The biggest surprise to me was when I read that there were 868 IPOS in 1996. I can't rationalize or understand why were there so many public offerings during that year. I know that majority of them failed before the start of Y2K, but still its a huge number to consider when you think of the costly disadvantages that's associated with IPO.
2) Identify at least one part of the reading that was confusing to you.
The most confusing part of the chapter was the private placements section. It claims that the Small Corporate Offering Registration (SCOR) is "easy enough" for an experienced accountant and attorney.
3) If you were able to ask two questions to the author, what would you ask? Why?
In "Global Perspective," the author describes the story of wealthy man who uses his finances to fight terrorism by providing opportunities for citizens to find gainful employment. I would like to ask the author what are the social and economical drawbacks, if any, of engaging in this financial opportunity?
It seems like a big uphill battle for individuals to receive financing for their start-up business. If you just graduated from college, how would you go about starting your business?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How
I don't entirely disagree with myth 5: venture capitalists need only basic summary information before they make an investment. I think it's possible for entrepreneurs to come up a with attention grabbing plan without going into elaborate details of their plan.
The biggest surprise to me was when I read that there were 868 IPOS in 1996. I can't rationalize or understand why were there so many public offerings during that year. I know that majority of them failed before the start of Y2K, but still its a huge number to consider when you think of the costly disadvantages that's associated with IPO.
2) Identify at least one part of the reading that was confusing to you.
The most confusing part of the chapter was the private placements section. It claims that the Small Corporate Offering Registration (SCOR) is "easy enough" for an experienced accountant and attorney.
3) If you were able to ask two questions to the author, what would you ask? Why?
In "Global Perspective," the author describes the story of wealthy man who uses his finances to fight terrorism by providing opportunities for citizens to find gainful employment. I would like to ask the author what are the social and economical drawbacks, if any, of engaging in this financial opportunity?
It seems like a big uphill battle for individuals to receive financing for their start-up business. If you just graduated from college, how would you go about starting your business?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How
I don't entirely disagree with myth 5: venture capitalists need only basic summary information before they make an investment. I think it's possible for entrepreneurs to come up a with attention grabbing plan without going into elaborate details of their plan.
Half-Way Reflection
1) Tenaciousness is a skill. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?
It's honestly not that hard for me to remain focused in this class because it's a requirement. It's either I keep pushing through the avalanche of assignments or I fail. Every time I think of not doing an assignment, I'm reminded of two things: I paid for this class & I'm trying to graduate. In a nutshell. Being tenacious is about having a goal in mind and adapting to the challenges and obstacles as the situation unfolds.
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?
In the beginning, I was dreading the whole interviewing random people process but I slowly started to realize that's it just starting a conversation. Most of the people I've interviewed have been nice and sociable so that has made the process much more enjoyable. Now when I see "video requirement," I still cringe a little bit, but I know its going to be an interesting day for me.
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'?
If I could offer three tips, it would be:
1) Fine tune your schedule to fit with the numerous assignments that are due on any given day at 9.
2) Being tenacious and organized go hand in hand as you're able to anticipate any shortcomings and still be able to persevere with careful planning.
3) Never allow yourself to downplay your abilities to complete an assignment. There are a ton of resources available, ranging from Dr. Pryor to the TAs and even talking with other students.
It's honestly not that hard for me to remain focused in this class because it's a requirement. It's either I keep pushing through the avalanche of assignments or I fail. Every time I think of not doing an assignment, I'm reminded of two things: I paid for this class & I'm trying to graduate. In a nutshell. Being tenacious is about having a goal in mind and adapting to the challenges and obstacles as the situation unfolds.
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?
In the beginning, I was dreading the whole interviewing random people process but I slowly started to realize that's it just starting a conversation. Most of the people I've interviewed have been nice and sociable so that has made the process much more enjoyable. Now when I see "video requirement," I still cringe a little bit, but I know its going to be an interesting day for me.
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'?
If I could offer three tips, it would be:
1) Fine tune your schedule to fit with the numerous assignments that are due on any given day at 9.
2) Being tenacious and organized go hand in hand as you're able to anticipate any shortcomings and still be able to persevere with careful planning.
3) Never allow yourself to downplay your abilities to complete an assignment. There are a ton of resources available, ranging from Dr. Pryor to the TAs and even talking with other students.
Sunday, February 21, 2016
Week 7 Reading Reflection
1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The biggest surprise would be that we haven't switched to this type of market segmentation yet. As noted in the article, the current segmentation initiatives have failed and will continue to do so until marketers address the product features that matter most to the customer.
2) Identify at least one part of the reading that was confusing to you?
In the article, it says that effective segmentation focuses on just one or two issues, and they would soon become obsolete after having their relevancy lost. I'm curious to know how long should the effective segmentation stay in place. This sounds like a costly and repetitive method, in which the business would have to constantly monitor changing customers' values and perceptions. In my opinion, public opinion sways from left to right too frequently in order to proceed on product development. This would be a drawback to psycho-graphic profiling.
3) If you were able to ask two questions to the author, what would you ask? Why?
Should a multi-national company like Pepsi or Coca-Cola switch to a marketing segmentation approach that focuses on rediscovering market segmentation? Pepsi still uses the same basic marketing campaign to make consumers believe that they will be happy if they drink one of their products.
Do you ever envision businesses actually putting aside their current market segmentation approaches?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I'm not entirely sold on the idea of psychographic profling because it's a very time consuming and costly method to assess what consumers want. In my opinion, most consumers don't know what they want until they actually give the product a chance. Better yet, they tend to use past purchases to influence their purchases. In the end, I am more intrigued about Yankelovich and Meer's market segmentation .
The biggest surprise would be that we haven't switched to this type of market segmentation yet. As noted in the article, the current segmentation initiatives have failed and will continue to do so until marketers address the product features that matter most to the customer.
2) Identify at least one part of the reading that was confusing to you?
In the article, it says that effective segmentation focuses on just one or two issues, and they would soon become obsolete after having their relevancy lost. I'm curious to know how long should the effective segmentation stay in place. This sounds like a costly and repetitive method, in which the business would have to constantly monitor changing customers' values and perceptions. In my opinion, public opinion sways from left to right too frequently in order to proceed on product development. This would be a drawback to psycho-graphic profiling.
3) If you were able to ask two questions to the author, what would you ask? Why?
Should a multi-national company like Pepsi or Coca-Cola switch to a marketing segmentation approach that focuses on rediscovering market segmentation? Pepsi still uses the same basic marketing campaign to make consumers believe that they will be happy if they drink one of their products.
Do you ever envision businesses actually putting aside their current market segmentation approaches?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I'm not entirely sold on the idea of psychographic profling because it's a very time consuming and costly method to assess what consumers want. In my opinion, most consumers don't know what they want until they actually give the product a chance. Better yet, they tend to use past purchases to influence their purchases. In the end, I am more intrigued about Yankelovich and Meer's market segmentation .
Free Money
Where will you go?
Turlington Plaza
What kind of people will you approach?
College Students
What will you say to get the conversation started?
I will tell them that I'm doing a quick survey.
What is your plan for the conversation?
Due to my potential customers having things/places to go, I will give them a brief explanation of my app and ask if they would use it or not.
Out of five attempts, how many dollar bills do you think you will be able to give away.
I decided to ask a question that I learned in my finance class: would you rather take a dollar now or a dollar in the future? Unsurprisingly, three out of the five customers actually took the free money, which I let them keep for being willing to be interviewed.
This experience was very unique and interesting to see unfold. The customers were very friendly and willing to give up some of their time to help out with my impromptu questioning. It was very cool to see how some people liked the app idea and how others still couldn't envision what I was describing to them. They gave quick, concise answers, and were even a little baffled when I asked them if they would rather take a dollar now or a dollar in the future. The most interesting aspect of this experience was interacting with the customers and receiving their essential feedback and thoughts. This was a good test to gauge the general public on their thoughts of the app.
Turlington Plaza
What kind of people will you approach?
College Students
What will you say to get the conversation started?
I will tell them that I'm doing a quick survey.
What is your plan for the conversation?
Due to my potential customers having things/places to go, I will give them a brief explanation of my app and ask if they would use it or not.
Out of five attempts, how many dollar bills do you think you will be able to give away.
I decided to ask a question that I learned in my finance class: would you rather take a dollar now or a dollar in the future? Unsurprisingly, three out of the five customers actually took the free money, which I let them keep for being willing to be interviewed.
This experience was very unique and interesting to see unfold. The customers were very friendly and willing to give up some of their time to help out with my impromptu questioning. It was very cool to see how some people liked the app idea and how others still couldn't envision what I was describing to them. They gave quick, concise answers, and were even a little baffled when I asked them if they would rather take a dollar now or a dollar in the future. The most interesting aspect of this experience was interacting with the customers and receiving their essential feedback and thoughts. This was a good test to gauge the general public on their thoughts of the app.
Wednesday, February 17, 2016
Elevator Pitch No. 2
The feedback I had received from the last Elevator Pitch really improved my thought process going forward. This time I remembered to address some key issues that I didn't mention in my last elevator pitch. For example, in this pitch, I think most investors would be more than willing to agree that self expression and individuality are the guiding forces behind this current generation's values. This insight on the current generation's knack for individuality will create the opening needed for the investors to invest in my product. I definitely appreciate all the comments I received from the last pitch because they shaped how I will market my product.
Sunday, February 14, 2016
Customer Interviews No.3
Here are the questions I asked my customers in this interview:
1) How often do you go to fast food restaurants?
2) Are you satisfied with the options shown on the drive-thru menu?
3) How often do you use your phone for ordering?
4) Do you think my product would make ordering easier for kids?
5) How do you think this product will affect workers?
This interview process was a success as it allowed me to fine tune some other areas of my idea that I didn't originally think of. The customers I interviewed this week were really intrigued about the possibilities and ramifications of what my product can offer. They noted how technology is slowly starting to replace humans with more "efficient" computers. This can be seen in select grocery stores, the diminishing need to deposit money at a bank, and even toll booths are becoming a thing of the past. Yet, one thing that all my interviewees mentioned was that no matter how smart the technology becomes, the need for a human to address these new technological advances will never change. For example. in regards to my idea, I don't think phrasing out the employees will be beneficial to the company because it could ruin their image and, most importantly, fail to place the workers in an essential ancillary role.
1) How often do you go to fast food restaurants?
2) Are you satisfied with the options shown on the drive-thru menu?
3) How often do you use your phone for ordering?
4) Do you think my product would make ordering easier for kids?
5) How do you think this product will affect workers?
This interview process was a success as it allowed me to fine tune some other areas of my idea that I didn't originally think of. The customers I interviewed this week were really intrigued about the possibilities and ramifications of what my product can offer. They noted how technology is slowly starting to replace humans with more "efficient" computers. This can be seen in select grocery stores, the diminishing need to deposit money at a bank, and even toll booths are becoming a thing of the past. Yet, one thing that all my interviewees mentioned was that no matter how smart the technology becomes, the need for a human to address these new technological advances will never change. For example. in regards to my idea, I don't think phrasing out the employees will be beneficial to the company because it could ruin their image and, most importantly, fail to place the workers in an essential ancillary role.
Thursday, February 11, 2016
Idea Napkin No. 1
1. You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
I'm a business administration major who is currently one semester away from graduating. I'm not really sure what my talents are but I'm an all-around type of person, which means I'm mostly average in regards to any particular subject. I interned at Sherwin-Williams over the summer where I gained a ton of experience with interacting with painters and contractors, setting up events and finding ways to bring in customers.
After graduating from high school, I began to aspire about having my own business, but I knew that college would be the best place for me to gather insight into what type of business. Now that I'm close to finishing, I could definitely envision myself working with some of my friends to create a social media app or something similar to the capabilities of Apple Pay.
2. What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
With the product that I've thought of, I plan on offering the consumer more simplicity and convenience when they arrive at the drive thru. As soon as they reach a particular major fast food restaurant's drive-thru, such as Burger King or McDonalds, their phone will become in sync with the restaurant and begin to highlight the customers' options in regards to specials and meals of the day. The technology will only work when the customer pulls into the drive thru area within a certain range as to avoid any unnecessary activation of the app.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
My targeted audience will be those individuals who frequently use the drive thru service. These are the individuals who will most likely use the features of my product. People naturally cling to having various options, which is a notion that Henry Ford eventually came to realize. By expanding the food options to this particular demographic, the consumer will be most likely start to add on to their meal purchases.
It's comparative to the experience of shopping online versus the experience of actually being at a retail store. Websites are limited in nature by what they're able to show consumers, so retailers have come to realize the need to become more personalized and accessible. The result is something commonly known in the retail industry as Omni-channel. That being said, imagine if drive thru menus could become more accessible and personalized to each unique consumer.
4. Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
Customers will care about my product because it gives consumers something that they wish they had more of: time. By eliminating the need to feel pressured into just picking a number and driving along, the product caters to the consumers' wants.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
The biggest core competency that will set my company and its product apart from others would have to be the value that we offer on each fundamental level. I have both the drive and ambition to keep reinventing the wheel and not being afraid of failure, which will happen time and time again.
My Idea
I believe these five elements fit together with my product because each element described above involves an aspect of companionship. Of course, in this case, the companionship will be between the consumer and their phone. I think its safe to say that most people, whether they admit it or not, have a hard time functioning without their phone nearby. So I think its just another added benefit to be able to use your phone at any fast food restaurant drive thru. I picture the college student leaving from their class and heading to In-N-Out to create a burger that uniquely fits his/her preference. Or, even the mother of three heading to Chic-Fil-A and passing around her phone as her kids pick and choose exactly what he/she wants (no more screaming in the backseat).Sunday, February 7, 2016
Week 5 Reading Reflection
1. What stood out to me the most in this chapter would probably be the section regarding the importing good ideas. As someone who currently envisions incorporating wireless and interactive technologies, like Apple Pay, for my entrepreneurial idea, it was really enlightening to see an entrepreneur who decided to use an idea that's already in motion and utilize it on a wider scale.
2. For the most part, this chapter was straight forward and self explanatory. One part that was confusing to me was the "lifestyle ventures" classification.
3. A) Is it smart, or profitable, to make a product or service that the customer doesn't necessarily realize has a high intrinsic value? This is a question I thought of while reading the customer availability section. B) How much customer feedback should be incorporated into the final design of the product or service? There have been times when producers have accurately surveyed customers' preferences, and yet the product became an utter failure at launch.
4. I don't disagree with what the author stated because the information was backed by studies and research.
2. For the most part, this chapter was straight forward and self explanatory. One part that was confusing to me was the "lifestyle ventures" classification.
3. A) Is it smart, or profitable, to make a product or service that the customer doesn't necessarily realize has a high intrinsic value? This is a question I thought of while reading the customer availability section. B) How much customer feedback should be incorporated into the final design of the product or service? There have been times when producers have accurately surveyed customers' preferences, and yet the product became an utter failure at launch.
4. I don't disagree with what the author stated because the information was backed by studies and research.
Wednesday, February 3, 2016
Elevator Pitch No. 1
Opportunity: On the surface it may trivial to implement technology in the drive thru menus, but I think the value added to making consumers interact with each respective franchises' menu is understated.
Solution: By implementing technology akin to Apple Pay or Samsung Pay at drive thru menus, consumers will have a variety of options to choose from instead of just simply picking a "#1 meal combo." With the opportunity I'm presenting, customers will have more power in customizing their order at the drive-thru area before proceeding to the window to receive their food. Of course, there are some holes and kinks that have to be fixed in the idea, but I think it could be the start of something new in the fast food industry.
The name of my company is QuickPay!
Sunday, January 31, 2016
Customer Interviews No. 1
I decided to tackle an issue that most people would overlook: the sometimes congested drive-thru area. Of course, the drive-thru experience varies during different times of the day, but one thing is for sure, whenever it's not running smoothly, we all wish it could be a better experience. I envisioned using current technologies like Apple Pay or Android Pay to help streamline the drive-thru process for customers. Instead of having customers reach for their wallets or purses to pay for their meals at the first window, then moving to the next window to receive their food, I think it would be easier on both the consumer and the company to allow customers to pay at the drive-thru menu, even allowing the customer to interact with the drive-thru menu themselves.
For my interview, I decided to ask my potential customers the following questions:
1) How would you feel about a smoother drive-thru experience?
2) Do you think the current drive-thru experience could use improvement?
3) Have you ever heard or used Apple Pay or Android Pay?
4) Would you be willing to utilize those features if it were to indeed improve your experience?
Wednesday, January 27, 2016
Top 5 World Problems
Top Problems
No. 1 - As police brutality against minorities continues to reach a boiling point, many are divisive in their opinion of what qualifies as justifiable action.
No. 2 - The ongoing debate on whether or not refugees fleeing from Syria should be allowed to enter other countries.
No. 3 - The fight against ISIS is causing increased hysteria among normally rational individuals as the terrorist group continues to wreak havoc across the globe, heightening the public's fears about homeland security in the process.
No. 4 - Poverty is still not receiving the necessary media coverage to instill a sense of empathy across the globe.
No. 5 - The deforestation of Haiti and Brazil is frightening because we depend on these animals and their contributions to their respective environments. By destroying the very same environment we depend on, we are jeopardizing not just our own future, but the generation ahead will bear the burden, too.
Top Solutions
No. 1 - Every police officer who has the ability to make arrests and/or have the ability to take away a life should be outfitted with a bodycam.
No. 2 - Increase the message to ISIS that we will not back down to terrorist organizations who use violence to accomplish their goals. With the influential power of social media, we can start a global campaign to deter individuals from joining ISIS.
No. 3 - Encourage networks to shed a bit more coverage of poverty. Why care about impoverished individuals? These are individuals who have faced a wide range of both internal and external conflicts, which has, ultimately, diminished their ability to provide invaluable human capital.
No. 4 - Any nation that has the available resources to accommodate refugees should be obligated to accept refugees because it isn't fair to discriminate against an entire group of individuals based on their religious beliefs.
No. 5 - Disarm all nuclear weapons.
Justification
I chose my top problem because I feel like this is a global issue that could be easily resolved. How is this a global issue? Whenever lives are being taken, without any sense of accountability, there's an issue at stake. As noted by the ACLU, a nonpartisan non-profit organization, "much interest in the technology stems from a growing recognition that the United States has a real problem with police violence. In 2011, police killed six people in Australia, two in England, six in Germany and, according to an FBI count, 404 in the United States." Needless to say, the evidence is mounting against those who say that officials' behavior is always justifiable.
I chose my top solution because it's a win-win for both sides: the police and the people. Some people may disagree, but sometimes seeing is believing. However, when you throw people into the equation, you tend to get a varying account of what actually happened. Unfortunately, when people are asked to retell what they saw, their perception of what they truly saw is highly subjective and biased. You could literally test this out with a simple Rorschach test. Thanks to modern day technology, we no longer have to rely on contrasting statements because technology lacks the ability to distort the truth. I hate to bring up the recently acclaimed Netflix series, Making a Murderer, into the discussion, but the shows demonstrates a common sentiment among less privileged people.
No. 1 - As police brutality against minorities continues to reach a boiling point, many are divisive in their opinion of what qualifies as justifiable action.
No. 2 - The ongoing debate on whether or not refugees fleeing from Syria should be allowed to enter other countries.
No. 3 - The fight against ISIS is causing increased hysteria among normally rational individuals as the terrorist group continues to wreak havoc across the globe, heightening the public's fears about homeland security in the process.
No. 4 - Poverty is still not receiving the necessary media coverage to instill a sense of empathy across the globe.
No. 5 - The deforestation of Haiti and Brazil is frightening because we depend on these animals and their contributions to their respective environments. By destroying the very same environment we depend on, we are jeopardizing not just our own future, but the generation ahead will bear the burden, too.
Top Solutions
No. 1 - Every police officer who has the ability to make arrests and/or have the ability to take away a life should be outfitted with a bodycam.
No. 2 - Increase the message to ISIS that we will not back down to terrorist organizations who use violence to accomplish their goals. With the influential power of social media, we can start a global campaign to deter individuals from joining ISIS.
No. 3 - Encourage networks to shed a bit more coverage of poverty. Why care about impoverished individuals? These are individuals who have faced a wide range of both internal and external conflicts, which has, ultimately, diminished their ability to provide invaluable human capital.
No. 4 - Any nation that has the available resources to accommodate refugees should be obligated to accept refugees because it isn't fair to discriminate against an entire group of individuals based on their religious beliefs.
No. 5 - Disarm all nuclear weapons.
Justification
I chose my top problem because I feel like this is a global issue that could be easily resolved. How is this a global issue? Whenever lives are being taken, without any sense of accountability, there's an issue at stake. As noted by the ACLU, a nonpartisan non-profit organization, "much interest in the technology stems from a growing recognition that the United States has a real problem with police violence. In 2011, police killed six people in Australia, two in England, six in Germany and, according to an FBI count, 404 in the United States." Needless to say, the evidence is mounting against those who say that officials' behavior is always justifiable.
I chose my top solution because it's a win-win for both sides: the police and the people. Some people may disagree, but sometimes seeing is believing. However, when you throw people into the equation, you tend to get a varying account of what actually happened. Unfortunately, when people are asked to retell what they saw, their perception of what they truly saw is highly subjective and biased. You could literally test this out with a simple Rorschach test. Thanks to modern day technology, we no longer have to rely on contrasting statements because technology lacks the ability to distort the truth. I hate to bring up the recently acclaimed Netflix series, Making a Murderer, into the discussion, but the shows demonstrates a common sentiment among less privileged people.
Wednesday, January 20, 2016
World's Biggest Problems
Problem #1 - There is current debate on whether or not refugees fleeing from Syria should be allowed to enter other countries.
Solution: Any nation that has the available resources to accommodate refugees should be obligated to accept refugees because it isn't fair to discriminate against an entire group of individuals based on their religious beliefs.
Problem #2 - The fight against ISIS is causing all types of problems as suicide bombers are wreaking havoc across the globe, heightening the public's fears about homeland security in the process.
Solution: Increase the message to ISIS that we will not back down to acts of irrational violence. Enact a global campaign using the social media to deter individuals from joining ISIS.
Problem #3 - Police brutality against minorities has reached a melting pot, and now the question is: when are, if ever, the police liable for there actions?
Solution: Every single police officer should be outfitted with a bodycam in order to determine what truly happened.
Problem #4 - The effects of global warming is causing surface temperatures to rise, which is threating not only the habitats of animals in various regions, but also our daily lives.
Solution: Greatly decrease our CO2 emissions by using alterative resources that loosen our grip on toxic chemicals depleting the ozone. Place a heavier tax on companies that pollute the air; thereby causing the company to find innovative ways to reduce CO2 output.
Problem #5 - Poverty is still not receiving the necessary media coverage to instill a sense of empathy across the globe.
Solution: Encourage networks to broadcast more coverage of the effects of poverty. Just the other day while I was walking in downtown, I saw two homeless people sleeping on the street with no blankets. This isn't covered in the news due to the fact that the majority doesn't think that this is a hot topic.
Problem #6 - The global market is in crisis, which is causing some individuals to believe that this is a repeat of the 2007 financial crisis. To make matters worse, China is going through a huge economic downturn.
Solution: China has to implement new fiscal policies that alter both their domestic and international affairs. Also, hysteria causes rash decision making, which, in turn, creates hasty decisions and even more problems. That being said, now would be the time for countries to actually listen to what an economist has to say.
Problem #7 - Although it can be argued that pay inequalities are increasingly becoming more equal, one can still say that we still have a long journey ahead.
Solution: As we all know, stereotypes, bigotry and sexism hinder individuals from equal opportunities. This results in a narrower pool of human capital, diversity, and open-mindedness. Inclusion is the only way to ensure that each individual gets their fair chance of imputing their voice. However, the only way to ensure that each individuals gets their fair chance, employers must be willing to give fair pay.
Problem #8 - The deforestation of Haiti and Brazil is frightening, not just for environmentalists, but for animals and people as well. Destroying trees and animals' habitat will eventually come to bite us back, especially since we depend on these vital organisms in the ecosystem.
Solution: Haiti needs to find other ways to obtain their products. Brazil is cutting down trees to grow crops for sugar cane in order to make ethanol. Obviously, these two countries need to reevaluate their methods of procuring their items.
Problem #9 - There are still threats to our existence due to the fact that there are still countries harboring nuclear weapons.
Solution: Honestly, I believe that every country should just disarm all nuclear weapons.
Problem #10 - Currently, there is a water shortage going on across the globe.
Solution: Urban farming by hydroponics and vertical growing because they use ultraviolent light and reduce the need for over-irrigation.
Solution: Any nation that has the available resources to accommodate refugees should be obligated to accept refugees because it isn't fair to discriminate against an entire group of individuals based on their religious beliefs.
Problem #2 - The fight against ISIS is causing all types of problems as suicide bombers are wreaking havoc across the globe, heightening the public's fears about homeland security in the process.
Solution: Increase the message to ISIS that we will not back down to acts of irrational violence. Enact a global campaign using the social media to deter individuals from joining ISIS.
Problem #3 - Police brutality against minorities has reached a melting pot, and now the question is: when are, if ever, the police liable for there actions?
Solution: Every single police officer should be outfitted with a bodycam in order to determine what truly happened.
Problem #4 - The effects of global warming is causing surface temperatures to rise, which is threating not only the habitats of animals in various regions, but also our daily lives.
Solution: Greatly decrease our CO2 emissions by using alterative resources that loosen our grip on toxic chemicals depleting the ozone. Place a heavier tax on companies that pollute the air; thereby causing the company to find innovative ways to reduce CO2 output.
Problem #5 - Poverty is still not receiving the necessary media coverage to instill a sense of empathy across the globe.
Solution: Encourage networks to broadcast more coverage of the effects of poverty. Just the other day while I was walking in downtown, I saw two homeless people sleeping on the street with no blankets. This isn't covered in the news due to the fact that the majority doesn't think that this is a hot topic.
Problem #6 - The global market is in crisis, which is causing some individuals to believe that this is a repeat of the 2007 financial crisis. To make matters worse, China is going through a huge economic downturn.
Solution: China has to implement new fiscal policies that alter both their domestic and international affairs. Also, hysteria causes rash decision making, which, in turn, creates hasty decisions and even more problems. That being said, now would be the time for countries to actually listen to what an economist has to say.
Problem #7 - Although it can be argued that pay inequalities are increasingly becoming more equal, one can still say that we still have a long journey ahead.
Solution: As we all know, stereotypes, bigotry and sexism hinder individuals from equal opportunities. This results in a narrower pool of human capital, diversity, and open-mindedness. Inclusion is the only way to ensure that each individual gets their fair chance of imputing their voice. However, the only way to ensure that each individuals gets their fair chance, employers must be willing to give fair pay.
Problem #8 - The deforestation of Haiti and Brazil is frightening, not just for environmentalists, but for animals and people as well. Destroying trees and animals' habitat will eventually come to bite us back, especially since we depend on these vital organisms in the ecosystem.
Solution: Haiti needs to find other ways to obtain their products. Brazil is cutting down trees to grow crops for sugar cane in order to make ethanol. Obviously, these two countries need to reevaluate their methods of procuring their items.
Problem #9 - There are still threats to our existence due to the fact that there are still countries harboring nuclear weapons.
Solution: Honestly, I believe that every country should just disarm all nuclear weapons.
Problem #10 - Currently, there is a water shortage going on across the globe.
Solution: Urban farming by hydroponics and vertical growing because they use ultraviolent light and reduce the need for over-irrigation.
Sunday, January 17, 2016
Bug List
1. T-Mobile's cellular coverage is weak.
Regarding nationwide coverage, T-Mobile has been lagging behind other telephone companies for years due to its weak cell towers that have to be upgraded or replaced.
2. In certain parts of Gainesville, there are too many homeless people.
Its a little known secret that once you leave the perimeter of UF's campus, you're entering a new environment that really contrasts against what you'll expect. This is largely due to economic forces and lack of support.
3. Getting to places on the weekend in Gainesville is a hassle.
If you don't have a car, you either have to depend on your friends to get around, or you have to use uber, which eventually adds up after a while. Uber isn't always available, and nor are your friends.
4. It is more expensive to buy healthy food, but relatively cheaper to buy "junk food."
It's simply less factors involved when creating junk food. Healthy food is sometimes organically grown or handled under special circumstances. These additional factors are added into the final cost of healthy food.
5. In this digital age, face to face social interactions are becoming less frequent.
Technology has lowered one's need to communicate face to face, saving both time and money.
6. There are too many young children with access to social media.
Young children are getting smarter and smarter. I've read stories about four year olds using iPads and tablets.
7. Men's' clothing is typically more expensive than women's clothing.
I would have to say that Men stylists and fashion designers are far less interested in making men clothing cheap due to the fact that their options are more limited than woman.
8. The long term durability of cell phones is questionable, including my iPhone after several months of use.
The cell phone manufacturers and the software engineers are doing whatever it takes to force consumers to buy their "next big thing."
9. Healthcare insurance is hard to come by for individuals after the legal age of 18.
Its assumed that healthcare insurance isn't necessarily required for young adults, but I can find a ton of individuals who would love to be able to get reasonably priced healthcare.
10. Uber is a great app, but allowing customers to have the final say when it comes to the drivers' job security is flawed.
Drivers have the tough task of dealing with inebriated persons who barely remember to rate their driver after they arrive at their destination. Then they get a few customers who have an attitude and give a negative and biased review; thus, harming the uber driver's job security.
11. Pandora, the music app that adapts to users' preferences, was at first innovative, but is now redundant and seems to be falling behind to other streaming apps.
Pandora needs to do SWOT analysis because it's not adapting to the changing climate of streaming music. I definitely made the switch to Apple Music when it debuted because of it's huge catalogue of songs.
12. Movie theaters charge an arm and leg to get snacks.
Movie theaters have been overcharging customers for years because they restrict them from bringing in their own product.
13. With over hundreds of thousands of apps on iTunes, its tougher to find the right app.
There are a million apps in the iTunes Store, so it's only reasonable to assume that this would happen.
14. Its a "wait in line" nightmare trying to get Chipotle on West University during the weekdays.
Nowadays, college students are shifting away from fast food eateries, opting for healthier alternatives like Chipotle and Chick-Fil-A.
15. If you live off campus, and you rely on the bus to get on campus, its very annoying to see a bus pass you by because it's full.
When you go to one of the best universities in the nation, space tends to be limited. Go Gators!
16. Teenagers spend a lot of time surfing the web and texting, with little initiative to get out.
This is another unintended consequence of technology making our lives simpler.
17. HBO Go is a great service but the streaming servers could use some major updating.
HBO just recently entered into the foray of streaming services, and as expected, there are intermittent problems that could make or break some customers.
18. Wal-Mart has many cash registers open but there are only a few cashiers actually using them at any given moment.
Wal-Mart doesn't take in consideration that customers want to both save money and move on to other affairs, not wait in line.
19. Both Metro Pcs customer service and phone lineup could use improvement.
You get what you pay for when you're dealing with Metro. It's like the family dollar of telephone companies.
20. Facebook is literally being spammed with nonsensical posts that add no value.
If Facebook doesn't eliminate these phony accounts from spamming people's timeline, people will ultimately leave Facebook in the dust. Facebook is trying to be an all encompassing social media site that meets all needs. It needs to refocus on it's core values.
The list was difficult because we normally move on with our lives when faced with an issue. We don't tend to think of the solutions because we literally miss the opportunity to capitalize on it. In essence, we let other entrepreneurs spot the bug and fix it. This exercise has definitely encouraged me to be more aware of the potential flaws in our products and services.
Regarding nationwide coverage, T-Mobile has been lagging behind other telephone companies for years due to its weak cell towers that have to be upgraded or replaced.
2. In certain parts of Gainesville, there are too many homeless people.
Its a little known secret that once you leave the perimeter of UF's campus, you're entering a new environment that really contrasts against what you'll expect. This is largely due to economic forces and lack of support.
3. Getting to places on the weekend in Gainesville is a hassle.
If you don't have a car, you either have to depend on your friends to get around, or you have to use uber, which eventually adds up after a while. Uber isn't always available, and nor are your friends.
4. It is more expensive to buy healthy food, but relatively cheaper to buy "junk food."
It's simply less factors involved when creating junk food. Healthy food is sometimes organically grown or handled under special circumstances. These additional factors are added into the final cost of healthy food.
5. In this digital age, face to face social interactions are becoming less frequent.
Technology has lowered one's need to communicate face to face, saving both time and money.
6. There are too many young children with access to social media.
Young children are getting smarter and smarter. I've read stories about four year olds using iPads and tablets.
7. Men's' clothing is typically more expensive than women's clothing.
I would have to say that Men stylists and fashion designers are far less interested in making men clothing cheap due to the fact that their options are more limited than woman.
8. The long term durability of cell phones is questionable, including my iPhone after several months of use.
The cell phone manufacturers and the software engineers are doing whatever it takes to force consumers to buy their "next big thing."
9. Healthcare insurance is hard to come by for individuals after the legal age of 18.
Its assumed that healthcare insurance isn't necessarily required for young adults, but I can find a ton of individuals who would love to be able to get reasonably priced healthcare.
10. Uber is a great app, but allowing customers to have the final say when it comes to the drivers' job security is flawed.
Drivers have the tough task of dealing with inebriated persons who barely remember to rate their driver after they arrive at their destination. Then they get a few customers who have an attitude and give a negative and biased review; thus, harming the uber driver's job security.
11. Pandora, the music app that adapts to users' preferences, was at first innovative, but is now redundant and seems to be falling behind to other streaming apps.
Pandora needs to do SWOT analysis because it's not adapting to the changing climate of streaming music. I definitely made the switch to Apple Music when it debuted because of it's huge catalogue of songs.
12. Movie theaters charge an arm and leg to get snacks.
Movie theaters have been overcharging customers for years because they restrict them from bringing in their own product.
13. With over hundreds of thousands of apps on iTunes, its tougher to find the right app.
There are a million apps in the iTunes Store, so it's only reasonable to assume that this would happen.
14. Its a "wait in line" nightmare trying to get Chipotle on West University during the weekdays.
Nowadays, college students are shifting away from fast food eateries, opting for healthier alternatives like Chipotle and Chick-Fil-A.
15. If you live off campus, and you rely on the bus to get on campus, its very annoying to see a bus pass you by because it's full.
When you go to one of the best universities in the nation, space tends to be limited. Go Gators!
16. Teenagers spend a lot of time surfing the web and texting, with little initiative to get out.
This is another unintended consequence of technology making our lives simpler.
17. HBO Go is a great service but the streaming servers could use some major updating.
HBO just recently entered into the foray of streaming services, and as expected, there are intermittent problems that could make or break some customers.
18. Wal-Mart has many cash registers open but there are only a few cashiers actually using them at any given moment.
Wal-Mart doesn't take in consideration that customers want to both save money and move on to other affairs, not wait in line.
19. Both Metro Pcs customer service and phone lineup could use improvement.
You get what you pay for when you're dealing with Metro. It's like the family dollar of telephone companies.
20. Facebook is literally being spammed with nonsensical posts that add no value.
If Facebook doesn't eliminate these phony accounts from spamming people's timeline, people will ultimately leave Facebook in the dust. Facebook is trying to be an all encompassing social media site that meets all needs. It needs to refocus on it's core values.
The list was difficult because we normally move on with our lives when faced with an issue. We don't tend to think of the solutions because we literally miss the opportunity to capitalize on it. In essence, we let other entrepreneurs spot the bug and fix it. This exercise has definitely encouraged me to be more aware of the potential flaws in our products and services.
Thursday, January 14, 2016
My Entrepreneurship Story
Last year, I went to a Retail Smarter conference, which is basically an event where business execs and entrepreneurs come together to explain their current ventures and humble beginnings to college students who aspire to join the retail industry or create their own business one day. Throughout the event, I gained a lot of insight into both operations and management, consumer behavior and demographics. Nonetheless, there was one presenter that stood out to me: John Rivers. At first glance, his name doesn't ring any bells, or is attached to anything major or notable. A quick google search shows that he's the founder of 4 Rivers, and if you've never been to 4 Rivers before, now is the time to go.
As John Rivers stood on the stage to explain how his company was founded, I took three mental notes of advice that he gave us: have a goal, be passionate about your goal, and be persistent. He reiterated numerous times that nothing in life comes easy, so we should expect to see failures. Surprisingly, John Rivers was the president of a billion dollar company, and yet still decided to risk it all by pursuing an unbeaten path: "de-regionalizing BBQ." As stated by Rivers himself, "this was never supposed to be a restaurant. My definition of helping meant doing what felt most natural when comfort was in order—feed those in need." Rivers took that concept, that idea, and transformed it into several locations across the state of Florida, with a staff of more than 1,000.
Inspired by John's story, I decided to take ENT 3003 because I believe I'm capable of finding a niche in the market to help out those in need. With hard work and perseverance, I know I'm capable of creating an experience that consumers would want to return to. I hope to get out of ENT 3003 a better understanding of what it takes to be an entrepreneur.
As John Rivers stood on the stage to explain how his company was founded, I took three mental notes of advice that he gave us: have a goal, be passionate about your goal, and be persistent. He reiterated numerous times that nothing in life comes easy, so we should expect to see failures. Surprisingly, John Rivers was the president of a billion dollar company, and yet still decided to risk it all by pursuing an unbeaten path: "de-regionalizing BBQ." As stated by Rivers himself, "this was never supposed to be a restaurant. My definition of helping meant doing what felt most natural when comfort was in order—feed those in need." Rivers took that concept, that idea, and transformed it into several locations across the state of Florida, with a staff of more than 1,000.
Inspired by John's story, I decided to take ENT 3003 because I believe I'm capable of finding a niche in the market to help out those in need. With hard work and perseverance, I know I'm capable of creating an experience that consumers would want to return to. I hope to get out of ENT 3003 a better understanding of what it takes to be an entrepreneur.
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| It all started in a garage... |
Introduction
My name is Rnard Sloan, and I'm a Business Administration major at the best university in the country, UF. On August 3, 1993, I was born in Miami, Florida, where I was raised alongside my three siblings. If I could use one word to describe my family, I would definitely say they are extremely funny, in the sense that you could never know what to expect from them. Growing up I was, and still am, an introvert. I tend to have a small group of friends that I could readily depend on if needed. I got my AA degree in Business Management from Broward College, and then decided to transfer to UF, so the difference between a community college and a reputable college like UF is easily apparent. However, I've since adjusted to the culture here and now it's a cakewalk. Since high school, I've had numerous jobs ranging from cashier to cook to merchandiser. Currently, I've been working at Macys for a little bit over a year now. I've met some great coworkers there and I actually hang out with a few outside of work. As much as I enjoy working in retail, I do know that eventually I see myself in a different industry in the future, preferably after I graduate.
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| Another great mantra to live by |
Wednesday, January 13, 2016
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