Week 15 Reading Reflection

The biggest surprise to me in the reading was the fact that this business sold exclusively to women only. Their researched suggested that women were more likely to reinvest their profits into the community and their home which I also found a bit more surprising. 

One thing that was confusing was how the guy started off his pitch to other companies because form how it sounds, they were not intending to be a non-profit at first and then change into a for profit business. Not sure exactly how to explain what was messing me up.

How do you feel about micro-financing? and would you invest in a micro-financing start up?

There wasn't anything I thought the author was wrong about.

Final Reflection

As the semester comes to an end there is a lot of things I find myself reflecting on. This class was one of the bigger pains because honestly there was so much more work I had to do than I thought I would need to at the beginning. However, now that I have reached the end I am glad that it was more work than I thought because it pushed me to do a lot of things I wouldn't have otherwise, like interviews with strangers. I learned about budgeting and raising capital for a business. I learned that Entrepreneurship isn't something you do it's something you become and something you can definitely learn just by changing how you think. Realistically I am just glad to have been able to change how I think about certain things because sometimes we as people mentally reserve things for people we think are "more qualified." Sometimes that's not even the case. I learned that I can push myself to do much more and overall I am no longer that scared of what it means to be an entrepreneur and start a business.

Elevator Pitch No.4

Venture Concept No. 2

Summary of Feedback
In general the feedback I received for my venture was pretty positive. People see use for my business at night and especially on the weekends which makes me think about possibly extending the service into the weekdays to see how well it fares. People were skeptical about the vending machine however. I think it would be convenient to get refreshment during your ride but someone mentioned that would be like trying to make a profit off of Uber's "free water and gum" in some aspects. I didn't see it this way but maybe that would be true and actually hinder my service. 

What I learned
In the new concept I have removed the vending machine portion because I think it may need to be revisited before implemented into my service. 
Overall, I learned that even though some ideas may SOUND great, the execution and implementation of the idea can be a lot different. In the end some ideas could end up really bad for business. It's hard because in business you don't ever want to become complacent because successful businesses grow with the times BUT at the same time some ideas might put you against the time and end up hurting you even though you were trying to move forward.



The Opportunity
Here in Gainesville, we probably have the best bus system in Florida. However, this doesn't include the weekends because on the weekend here in Gainesville the bus doesn't take you anywhere after 6 p.m. and there is no guarantee that an Uber will always be cheap enough to afford. A lot of small, cheap trips will eventually add up.
For students, life doesn't stop at a certain time on the weekends and one should certainly not be forced to plan out there day with an hour of time to account for when the bus may or may not arrive. Students need reliable and stable transportation on the weekends at all times not just during the day. Sundays are the worst because after 10 p.m. it's as if the entire city has turned off in preparation for Monday. The Students of UF and many other hard working people who make work odd hours and still need reliable transportation on the weekends. RTS and Uber are not that when the weekend begins after you clock out on Friday. This is a big opportunity for another service because I believe that while it will serve the people who need to get around on the weekend currently it will also empower and persuade people to do more things on the weekends here in Gainesville because they are confident in being able to get around and get home if need be.
Innovation
A new shuttle service could be implemented to supply the market demand for travel on the weekends. I am offering a shuttle service called Swift that would run 24 hours on the weekends here in Gainesville. It would serve customers on a number of routes with 3 specific ones being considered main routes with more shuttles to decrease wait time and travel time. The shuttles will not be bigger than SNAP vans and this is because the bigger the vehicle the harder it becomes to get from point A to point B in a reasonable amount of time. The service would decrease travel wait times to at 10 mins at least and aim to get people from archer to Campus in less than 15 minutes. The shuttle would also be outfitted to have customers step into the van and sit around the inside so as to allow easier and quicker boarding and departure from stops. The shuttle would cost $2.50 per ride and it doesn't matter how far you go. I would like to someday include snacks as well so that customers can feel like they are on a Jet blue plane while riding my shuttle service.
Venture Concept
The implementation of swift solves two major problems people have on the weekends. Getting around and the long wait times for the current transportation in place. Not only this but it will give students and others the opportunity to be out longer and be able to get more things done outside of the house without needing to ask a friend for a ride or relying on the bus. I believe customers will buy my innovation because though 50,000 students are enrolled here at UF not all of them have cars and those who don't could benefit from a service dedicated to getting students where they need to go at any time on the weekends. Right now most people rely on the bus and Uber if they don't have cars and after a while if that is what they deem is reliable then that is what becomes the norm. I believe I can get people to switch over to my service because Swift does not have a pricing model nor does it have surge pricing at certain times based on demand. Swift would be much faster than RTS and would be a great alternative to the later gator when it stops running at 3 and people are left downtown and at midtown to find a way home. As far as a business I would buy up a lot with a decent sized office space to run logistics of the operation. the lot will be for the shuttles when they need to be changed out and parked over the weekend and during the week. I believe I would need about 6 employees to start. First would be my financial officer who would oversee the financial state of the company and the inflow of money through transactions and so forth. Second, a tech expert who would over see our website and mobile application. Third, a communications officer that would handle all communications of the business. to compliment them I would also have a external communications officer to handle communications with customers and outside influences. Fifth I would have an advertising and marketing head for the business and last a driver supervisor who over sees the work of all the drivers, en route. I believe this is a service truly beneficial to the people of gainesville.

Week 14 Reading Reflection

While doing the readings for this week I did not find any major surprises. What I read for the most part met my expectations and aligned with some of the values I have when it comes to the Entrepreneurial mindset.

I was not confused at all. I internalized most of what was read. 

First I would ask, how do you carry the Entrepreneurial mindset within your own endeavors? Then I would ask how he addresses some of the common ethical issues faced in the Entrepreneurial world?

I don't think there was anything the author was wrong about.

Google Gold

Now that I think about it I haven't really tailored my posts be optimal for searches. Half the time my titles are the ones that said to be put in the assignment once you are done. However, in other circumstances I approach SEO with a simple process: people only like to read about things they find interesting. May not be exactly true but that's what I use to guide my titles and word choice. 

I don't have a particular set of key words to be honest. There a millions of searches each day on google and so I play around with words to see exactly how much they pull when searched in Google.

I used social media to enhance my blog almost never, which I regret. It wasn't until recently that I began to understand that even though this blog was for class it was still considered something to add to my portfolio. If I did though I would strategically share the link a couple times on Facebook and twitter. On Instagram people like visual content more than anything so I wonder how exactly I would've promoted my blog on their besides putting a link to it in my bio.

My most viral post was the top twenty percent. I think it was the most viral because of the business I chose to spotlight which was RAWE Recruits. It's a start up here in gainesville and it has a great purpose in helping more high school athletes get noticed, especially the ones who perform both outside and in class. 

Finally the farthest I have made it to on google sadly is the ninth page. It's not extremely horrible but it's not the first either so clearly I have lots more work to do. 

Very Short Interview Part 2

So I went back to "The Shoe Surgeon" to get the final part of this interview...

Looking back on the first interview I feel like there are some things I can actually relate to. Sometimes in school we bypass things to just get assignments done and forget to actually listen and learn. Now as a more seasoned Entrepreneur, or at least I'd like to think so, I can see what he meant in his responses.

Here's what I asked him now:

1. Are you happy?
Yes, I actually think I am. 

2. Even if your trade didn't become fortune hundred status, would you still continue to do what you do?
Of course. I love what I do and I don't think that becoming that big is what I have in mind because in the process you would lose the personal connection with the service you offer. The products I provide are hand made with care and my bare hands. Becoming that big would take that aspect away from me and my brand entirely. 

3. Do you have an exit strategy?
Honestly, no. This is something I want to do until I simply can't do it anymore. If my children want to take up the mantle and follow in my footsteps I would be glad to show them what I do and how to make their own creations and express their creativity. 

In this interview I was much more comfortable talking about Entrepreneurship because having had a taste of many of the things that have to do with the concept I understand that it is a process just like everything else. I also understand that like every process it isn't always for everyone, and more importantly, that that is alright.

I think I've progressed because of the questions I asked. No longer am I concerned with the profit and opportunity aspect but rather if it is something that I would be invested in, personally. Enough so that I would pour my soul into it before letting it fail.

Week 13 Reading Reflection

One thing that I found surprising was the level of questions and analysis that went into evaluating the worth of a business. When I see start ups that are valued in the millions and even billions I wonder how people got to that number. Now I have more of an idea as to how they do that.

One part that I found confusing was how the seller will always see his venture as worth more than a buyer thinks because of how much he has put into the venture. I understand that people want to find the lowest possible price to buy something but is it not possible for people to be understanding and empathetic of why a seller would value his business at a certain number. Granted if it is not worth that by any means then it just isnt. I just dont think people should by pass the conversation just because the assumption is that every seller may be this way.

Have you ever been in a position where you had to value a company or service? If so how did you make up your mind and was the owner of the business satisfied with the number or disappointed?

I don't think that the author was wrong because I have never been in a position to value any kind of business. However, I do think that LOI's are not that cool because it basically cuts off other avenues for better deals for businesses and corporations. I understand it's about security but at the same time business men are the first ones to make a slimey move and say "it's just business."

Celebrating Failure

1) One time I have failed this past semester was with my Writing for Mass Media class. Though the assignments are not generally hard, AP Style is literally the bane of y existence. As much as I have tried it seems that no matter what I do I would always mess up on an assignment. 4 weeks into the class I had an F in the class and I almost had a heart attack.

2) Failures in this class have taught me that even though things can be going bad, you juts have to keep going. Also, to not give up on quality and hard work because then I would've really been in a bad spot when it comes to that class.

3) Failure will sometimes be the hardest thing you experience. It will challenge you and it will push you. It will make you question yourself and the world around you. It is something you can't escape and you are foolish if you ever thought you could. For a long time I saw failure s an opportunity to grow however that was back when I rarely failed at things and everything else seemed to just fall in line. After this semester I can say I have been tested time and time again and I realize now that failure is something that will break you, so that you can rebuild again and again with new knowledge information and experiences. I see the world in a much different light now.

Exit Strategy

1) Honestly, I don't really know what I do with the company because it all depends on it's success. If it is successful here in Gainesville I would want to know how successful it is in comparison to other transport services and if people are interested in having a similar services in other places.

2) I have chosen this because I think it's important to just see where things go sometimes. There isn't anything in life that is really a sure thing and a business venture is one of the biggest ones on that list. Also, I would want to know that people actually wish my service existed in other places before i considered expanding.

3) I think this exit strategy has affected other decisions I have made because in the end I am willing to try lots of things to see if the product would become more or less successful. It may have blinded me from taking advantage of certain opportunities because I haven't been exactly committed to the ventures success no matter what.