Week 15 Reading Reflection

The biggest surprise for me in the reading was that the company talked about in the article, SKS Microfinance, only made loans to women. According to the article, women are more likely to reinvest their earnings into their household, which makes them safer people to lend money to. I was still surprised to learn that because of this tendency, the company strictly only loaned money to women. I was confused by this as well, because in America the men are historically the main breadwinners of the household, whereas in India the opposite may be true. I would probably ask the author why they completely will not loan money to men, and whether they think this practice has been a good business decision. As the author was writing about his own business, I don't disagree with anything he said.

Final Reflection

Final reflection!! Can I get an AMEN.

                                            

Looking at my blog, I feel like I've come really far over the course of the semester. From first coming up with my venture idea, to interviewing possible customers to receiving critique on my various posts, this semester and its assignments have been filled with twists and turns. My most formative experience was probably my first round of customer interviews. I was so nervous to talk to strangers, and even more nervous to film the encounter. I feel like I'll remember every exercise where I had to film strangers, just because of the mental anxiety I encountered every time I have to do so. While I don't think I had a "most joyous" experience, I felt euphoric every time I completed an assignment (moreso when the assignment involved recordings/interviews). The assignment(s) where I was the most proud of myself were the elevator pitches. It usually took me a bunch of tries before I did a halfway decent video, so finally saying what I wanted to say in a professional manner always made me happy.

Now that we're at the home stretch of the semester, I feel more like an entrepreneur than I did in the beginning of the course. Would I brag to my friends that I'm an entrepreneur? Honestly - probably not, considering MA was a made up venture. However, I feel more prepared to enter the world of entrepreneurs, and have more of an idea of the steps I would have to take, should I ever want to open my own business. To future students taking this course, I would recommend staying on top of all the assignments. It's hard to know how involved an assignment is by looking at the title of it, so it's important to read the assignment to know what it entails and set aside enough time to complete it. To foster that mindset, I would recommend checking the Canvas calendar daily to see when upcoming assignments are due, and remind them that assignments are due at 9 pm, not midnight!

                                         

Elevator Pitch No. 4

Last one!! *throws papers in the air*

After receiving feedback on my last venture concept and my last elevator pitch, I decided to change the pricing of my service. While the original price was either $12 or $15 depending on when the student signed up, the new price is $20 or $25. In my actual pitch, I tried to talk slower so that people could fully understand what I was saying, and I tried to provide more details in this pitch than in my last one.

Venture Concept No. 2

1. Venture concept description:

Opportunity:

The opportunity of my venture concept, “Mid-Assist” (aka MA), lies within the under-met needs of my customers. The potential customers for MA are the students currently attending the University of Florida (if this idea were to take place on other campuses, customers would be the attending students of the university in question). Their under-met need? Transportation. In today’s day and age, people want things to be fast, efficient and effective. Our cellphones need LTE data, we need to be able to watch TV with no commercials, and we wonder if our computers are broken when they take longer than 10 seconds to load a document. My point is that people don’t want to wait anymore. They want what they want at the moment they decide they want it. Now of course, transportation is a bit different. It can’t happen immediately, but we do want to know that it’s on its way, or it’ll be here at a certain time. I believe the school’s current offered form of transportation not only doesn’t meet these needs, but also doesn’t fully reach the entire student body.

                I think the “window of opportunity” for my venture is substantial. As long as the University of Florida remains in this area (which is very likely) and the midtown area remains popular (also likely) than MA will have a strong customer base. Customers are currently satisfying their need through taking Ubers, taxis, or simply walking home. I would say their loyalty level is moderate at best. Many students choose to walk, which can potentially be a dangerous situation, and Ubers can only be booked on-demand, so there’s no real guarantee of when they will come. My market is defined geographically as being within 3 miles of the university, and demographically as a UF student (so most likely between the ages of 18-22).

Innovation:

The actual idea. Mid-Assist, or MA, will be a set of school-sponsored vehicles that will transport students from the Midtown area to their off-campus dorm, apartment, or house. I’ve designed this service so that it is primarily for off-campus students, as they currently have no alternative school-sponsored option, while on-campus UF students may use SNAP. MA will operate from 10 pm to 3 am on Wednesday through Saturday nights. Students would be able to book the ride through a mobile app, and it will be prepaid within a student’s tuition. Note: this is technically a luxury service. At the time of registering for classes, students will have the option of pre-paying for the service through their Gatorlink accounts. If students sign up at the beginning of the semester, they will have the reduced fee of $20, while students signing up later in the semester will be charged $25. The mobile app will request their UFID number, ensuring that the student taking MA has already paid for the service. The MA cars can be requested for a certain timeframe if booked at least 3 hours in advance. Otherwise, the cars will help customers in the order the requests are received.

Venture Concept:

                My innovation will help to solve the problem I’ve identified by providing students with an alternative option for getting home safely at night. As a student who has been out late at night before, I have felt uncomfortable getting into a taxi or uber alone . We all hear the horror stories in the media and on TV (I’m a big fan of Law and Order: SVU, which doesn’t help the whole being scared in the taxi situation). Our parents call all the time telling us to be careful, don’t drink anything you didn’t see made, and to be alert when walking anywhere at night. We get the UF alerts saying shots have been fired somewhere, or someone attacked someone walking home. And then, after all those things, the main ways of getting home are by waiting for an uber, getting into a taxi, or waiting for SNAP, which doesn’t even help the 90% of UF students who live off campus. I think by offering a school-sponsored method of transportation to off-campus UF students, the university sends a clear message to its students, faculty, parents, and benefactors that they care about student safety, and will do everything in their power to keep our student body safe.

Three Minor Elements

• I think the most important resource will be the students of UF and UF itself. I think that the venture will be made more credible if UF shows its full support for the venture. The students are important because they would be providing the funds for the venture! As MA would have student drivers, their knowledge of the Gainesville area would also help MA to run more efficiently.
• What's next for MA is still to be determined. I think that the most important thing is to get it off the ground, and start getting students to see that this may be a more convenient and safe option for them when in need of transportation. Afterwards, once the idea has proof of concept, it can be taken to other universities , either in Florida or across the U.S.
• What's next for me is still to be determined as well. Assuming MA became a real thing, I'd probably want to check up on it every once in a while to see the impact it's having on student's lives. As an entrepreneur, I hope to own my own business one day. This venture would help give me good business experience that I could use in the future to start my own company.

2 and 3. All of the feedback I received from my first venture concept had to do with my pricing model. My original concept had students paying $12 or $15 for the semester, whereas my new model has student paying $20 or $25. My sources of feedback believed that 12-15 would not be enough to sustain the business. I responded to this feedback by upping the price. Other than that, I've gotten positive feedback about the general idea of MA.

                                          

Week 14 Reading Reflection

I preferred Chapter 4 over Chapter 3. I found it a lot more interesting to read, and I found the material much easier to grasp. What stood out to me was that many of the ethical decisions that occur in real life also occur, to some degree, in the entrepreneurial journey. I also found the different approaches to managerial ethics interesting. I would ask the author which method (either holistic or ethical) they found to be the most helpful in the workplace. I've covered some of this material in my Management course this semester, so I agreed with the information that the text provided.

Google Gold

1. My general strategy for search optimization was to try to use the same shortening of my service, MA, in several of my posts. This way, if people searched for ENT blogs with the keyword "MA", there was a chance it would show up.

2. My main keyword was MA, which was short for Mid-Assist, the name of my service. This keyword was pretty clear for me, as I mentioned it in all of my posts that talked about the service (so throughout the course of the semester - quite a few posts!). I also used the key words of ENT 3003 and blogspot. I kept these keywords the same during the semester as I never changed the name of my idea.

3. This time around, I did not use social media to enhance my SEO. However, if MA was a real thing, making posts and hashtags across social media platforms like Facebook and Twitter would be sure to strum up traffic to my blog, and hopefully spread the word about MA to potential customers.

4. My most viral post was my third round of customer interviews. I think that this got the most views because (at least for me) this was one of the more challenging assignments, as I was running out of things to ask customers. I would imagine people looked at my blog to generate some ideas on what they could ask in their own customer interviews.

5. When typing in "ENT 3003 MA" into Google, I do end up on the first page of results.

                                                       

Very Short Interview, Part 2

**On a note completely separate from this assignment: Ahhhh only a week left!!! We're almost done guys yay**

Now, moving on to ENT..

(1) Looking back on my first interview, I asked Adam some pretty general questions about his business, like how he got started and if he would have changed anything up until that point. I get a pretty good impression from the interview about what some personality traits/qualities/lifestyle changes entrepreneurs have to have/make to be successful (the main one being busy - it was not easy to get a hold of him). It probably would have been more beneficial for me to ask him what he thought about owning a business in general, rather than his business in particular. Going with this train of thought, I decided to ask him different questions in this interview.

(2) The Interview
1. Question: Do you think owning/operating your business has changed your personality?
Answer: Absolutely. I think that starting Extreme made me a lot more responsible and accountable for my actions. Spending a lot of time with customers has also given me better communication skills and real world experience.
2. Question: What steps would you recommend to someone thinking about operating a business?
Answer: I would tell them to research the field they're trying to enter before making any moves. I'd also tell them to try and talk to people already in the industry, which is what I did for Extreme. After that, it's a matter of hard work and persistence to get the job done.
3. Question: In your opinion, can anyone be an entrepreneur?
Answer: Yes! It's a lot of hard work and needs a lot of effort, but anyone who is willing to put in the work should give it a shot.

(3) Now that the class is nearing the end, I really feel I've gotten a better sense of what it takes to become an entrepreneur. When I first spoke to Adam, I had a very abstract idea of the concepts we discussed. After coming up with my own idea, I see that there is a lot more than meets the eye when it comes to developing and enforcing an entrepreneurial venture. I was more comfortable discussing the topics because I was now more familiar with the concepts I was asking him about. I'm not really sure if Adam noticed a difference in my "entrepreneurial prowess," but I feel like I asked better questions in this interview because of it.

Week 13 Reading Reflection

I thought this week's reading was pretty interesting. I think that knowing how to value a company is very important, because the entrepreneur should know their company's worth and potential investors will need to be able to figure out an appropriate amount to invest. I'm surprised that some people enter the "entrepreneurial area" at all by acquiring a venture. I would think that one would want some experience operating a business first before buying one from someone else. I was also somewhat surprised by the length of the due diligence evaluation, as I'm sure first-time entrepreneurs buying a business would not think of all of the topics listed. I would ask the author whether they think it would be good practice for people to just buy a business or whether it makes more sense for people to start their own venture first. I agreed with everything the author wrote in the reading.

Celebrating Failure

1. How I love to talk about my failures! Um, no, not really. But, let's get into it. My latest failure to date is brought to you from my fall 2015 semester. It was my first semester here at UF (I'm a transfer student) and the class was Financial Accounting and Reporting 1. I tried to keep up with the notes in class and listening to the professor talk a mile a minute, but I was definitely struggling. However, I thought I knew enough to feel okay about the first exam. Grades come out: boom. Failed it. Of course I feel like crap about myself and think "ugh, this sucks". So, I buckle down for the next test, because I know I have to do well on it to stay in the class. I spent 3 days in the library from noon to 1 am studying, and manage to pull out a 78 on the next test. I LIVED, I DIED, I LIVED AGAIN. After those 2 grades, I realized I had to pull out a B on the final to pass the class. After much deliberation, I decided to stay in the class, rather than dropping it, and try my absolute hardest to do well on the last test. Test comes and goes, grade comes out: boom. Failed it again. So I ended up technically failing the class, but my professor was kind enough to give me a D instead so that my Bright Futures remained intact. Unfortunately, since it was a 4 credit class, the D annihilated my GPA, despite the good grades I had gotten in my other classes.

Long story short: My failure was failing an accounting class, which ended up forcing me to switch majors to Finance.

2. Well, I learned that being an Accounting major was definitely not for me. While I did have the opportunity to take the class again to try and pass, I realized that I dreaded taking the class again. I did not enjoy waking up twice a week to go to it, I would constantly look at the clock waiting for class to be over, and while I enjoyed some of the concepts we discussed in class, I found a lot of the information to be tedious. As an accounting major, I probably shouldn't be feeling those ways in an accounting class. Failing (or almost failing) helped me realize that I wanted to be in a broader area of learning, where the things I learned could be applied to various industries so that I would have some wiggle room later on.

3. My thoughts on failure? It completely, totally sucks when it's happening. I, like many others I'm sure, hate to fail. I felt so bad about myself when I did so poorly in that accounting class, especially because it appeared that I was the only one struggling in it. (It also sucked because everyone in the class seemed absolutely certain that they wanted to be a CPA upon leaving UF, whereas I'm still exploring career options, but I digress). Now that I can look back on it, I'm proud of myself that I stuck it out in the class, even though the outcome was less then desirable. The hit my GPA took was a rough one, but I'm on track to pull it up this semester. I think that the whole experience helped me see that not all of my classes would be easy for me (as they were at my previous school), and that sometimes I'll fall down academically (another feeling I was not accustomed to). Overall: no one likes to fail. But looking back, it could help people realize things about themselves, and possibly put themselves into a better position going forward.

                               

My Exit Strategy

1. Ah, the exiting of the business. Like the assignment says, it comes at the very end of the entrepreneur's role in the venture, but in certain ways the way we grew the business itself was dependent on the exit strategy. For my business venture, MA, I would probably "lave the business" a couple of years after I graduated from UF. However, this would depend on whether UF would agree to add it either to their SNAP program or whether I would run the venture as a separate business. I would be much more likely to stay if I ran it as a separate business. On the other hand, the MA venture may last longer as a part of SNAP. I would like to pass on the business to my future children, who would possibly attend UF and see how the business positively impacts students lives.

2. I chose this exit strategy (if you can really call it that if it stays in the family) because I would want to still be able to oversee MA and its impact on the University of Florida community. Also, if MA were to become a staple of UF, I would want that honor to remain in my family.

3. My exit strategy would influence MA in that I would want it to be the best that it could be if I were to pass the business on to another family member. I don't think it would necessarily affect the methods of acquiring different resources or my growth intentions, but I would want MA to be run in a wholesome, honest way. Not only because I believe that is the best way to get repeat customers, but also because that is the kind of example I would want to set for my family.

                                        

Week 12 Reading Reflection

I liked this week's reading as it related to a lot of the material I've discussed in my management course here at UF. I agree with the author that strategic planning is more essential for a larger business to grow and expand than for a smaller operation (with much less people). By having a plan for the future, business are better able to prepare themselves for any issues that may be down the road. I was surprised to learn that in a study of 220 companies, 39.9% of companies had no written plan at all. As a person on a team, I would feel extremely uncomfortable if I knew my company was not following any sort of guide, because it ends up appearing as though the company is "winging it". As I was already familiar with the material in the book, I agree with what the author says, and don't think I would ask him anything about this section.

Venture Concept No. 1

Opportunity:

The opportunity of my venture concept, “Mid-Assist” (aka MA), lies within the under-met needs of my customers. The potential customers for MA are the students currently attending the University of Florida (if this idea were to take place on other campuses, customers would be the attending students of the university in question). Their under-met need? Transportation. In today’s day and age, people want things to be fast, efficient and effective. Our cellphones need LTE data, we need to be able to watch TV with no commercials, and we wonder if our computers are broken when they take longer than 10 seconds to load a document. My point is that people don’t want to wait anymore. They want what they want at the moment they decide they want it. Now of course, transportation is a bit different. It can’t happen immediately, but we do want to know that it’s on its way, or it’ll be here at a certain time. I believe the school’s current offered form of transportation not only doesn’t meet these needs, but also doesn’t fully reach the entire student body.

                I think the “window of opportunity” for my venture is substantial. As long as the University of Florida remains in this area (which is very likely) and the midtown area remains popular (also likely) than MA will have a strong customer base. Customers are currently satisfying their need through taking Ubers, taxis, or simply walking home. I would say their loyalty level is moderate at best. Many students choose to walk, which can potentially be a dangerous situation, and Ubers can only be booked on-demand, so there’s no real guarantee of when they will come. My market is defined geographically as being within 3 miles of the university, and demographically as a UF student (so most likely between the ages of 18-22).

Innovation:

The actual idea. Mid-Assist, or MA, will be a set of school-sponsored vehicles that will transport students from the Midtown area to their off-campus dorm, apartment, or house. I’ve designed this service so that it is primarily for off-campus students, as they currently have no alternative school-sponsored option, while on-campus UF students may use SNAP. MA will operate from 10 pm to 3 am on Wednesday through Saturday nights. Students would be able to book the ride through a mobile app, and it will be prepaid within a student’s tuition. Note: this is technically a luxury service. At the time of registering for classes, students will have the option of pre-paying for the service through their Gatorlink accounts. If students sign up at the beginning of the semester, they will have the reduced fee of $12, while students signing up later in the semester will be charged $15. The mobile app will request their UFID number, ensuring that the student taking MA has already paid for the service. The MA cars can be requested for a certain timeframe if booked at least 3 hours in advance. Otherwise, the cars will help customers in the order the requests are received.

Venture Concept:

                My innovation will help to solve the problem I’ve identified by providing students with an alternative option for getting home safely at night. As a student who has been out late at night before, I have felt uncomfortable getting into a taxi or uber alone . We all hear the horror stories in the media and on TV (I’m a big fan of Law and Order: SVU, which doesn’t help the whole being scared in the taxi situation). Our parents call all the time telling us to be careful, don’t drink anything you didn’t see made, and to be alert when walking anywhere at night. We get the UF alerts saying shots have been fired somewhere, or someone attacked someone walking home. And then, after all those things, the main ways of getting home are by waiting for an uber, getting into a taxi, or waiting for SNAP, which doesn’t even help the 90% of UF students who live off campus. I think by offering a school-sponsored method of transportation to off-campus UF students, the university sends a clear message to its students, faculty, parents, and benefactors that they care about student safety, and will do everything in their power to keep our student body safe.

Three Minor Elements

• I think the most important resource will be the students of UF and UF itself. I think that the venture will be made more credible if UF shows its full support for the venture. The students are important because they would be providing the funds for the venture! As MA would have student drivers, their knowledge of the Gainesville area would also help MA to run more efficiently.
• What's next for MA is still to be determined. I think that the most important thing is to get it off the ground, and start getting students to see that this may be a more convenient and safe option for them when in need of transportation. Afterwards, once the idea has proof of concept, it can be taken to other universities , either in Florida or across the U.S.
• What's next for me is still to be determined as well. Assuming MA became a real thing, I'd probably want to check up on it every once in a while to see the impact it's having on student's lives. As an entrepreneur, I hope to own my own business one day. This venture would help give me good business experience that I could use in the future to start my own company.

Week 11 Reading Reflection

I agreed with the majority of this week's reading. I especially agreed when Gary Pisano, the author, stated that "innovation remains a frustrating pursuit...despite massive investments of manager time and money". This makes absolute sense, because (in my humble opinion) no amount of money is going to make someone or a certain idea become innovative. An idea needs to be thought of and cultivated - paying a lot of money to a manager to sit and think of ideas doesn't guarantee success. I don't think that I agree entirely with Pisano's views. While I think that certain business may foster innovation, I don't think that selecting a certain business strategy guarantees innovation. I would probably ask Pisano which business strategy he believes is the most effective for fostering innovation and if he has had any personal experience in operating a business.

Amazon Whisperer

Since the entrepreneurial venture I created is actually a service, I couldn't really pick a "next product" for this assignment. That being said, in keeping with the spirit of the thing the item I chose was a seat cover with a Gator symbol on it (I figured maybe all of the MA cars will have at least one of these to either show school spirit or identify itself from SNAP vans). I've attached a picture of the product below:

Looking at the picture, the seat cover looks like it fits nicely on the car seat, the gator symbol appears prominent and centered, and the material looks like it would be of a high quality. The customer reviews on this product are pretty mixed. In general, customers thought the gator logo was of a high quality, but the rest of the product had something to be desired. Many customers found the item difficult to install, ripping it in the process of installation. Others found the quality of the cover to be lacking, saying it was uncomfortable to sit on.

To fix the issues this product has, I would make the cover have 2 separate pieces instead of one huge piece; I think this will simplify the installation process. I would also make the cover in different skews with different material to better fit different cars. The Amazon Whisperer article discussed that the more variations of a product there are, the more shelf space that product can command. Therefore, offering different material options provides for higher customer satisfaction and (hopefully) a larger portion of the market.

As far as adding this to my service, I don't think I would be selling this to my customers. Rather, it could be something that comes included with MA cars as an identifying piece.

My Unfair Advantage

1. As with all imaginary yet very possible ventures, the first resource I'd come up with is myself. I feel that I am a hard-working, dedicated individual who would be committed to making sure this venture would be a success, should it become a reality. And best of all, I'm not imitatable, rare, and non-substitutable :)

2. Human capital - aka the students who would be driving the MA cars. No one knows Gainesville student living situations and locations better than actual UF students, so any possible shortcuts or ways of making trips faster and more efficient would be known by our drivers. This is not necessarily a resource that other companies may possess.

3. Social capital - social media. By being an active user on various platforms of social media such as Twitter, Facebook and Instagram, I have background experience in using social media to push out my service and put it in the public view. Social media can make or break a company, and I feel that already having prior experience with the technology could be very helpful in starting my business.

4. Human capital - the very large student body of UF! By making MA cars available exclusively to UF students through their Gatorlink accounts, it would be easier than ever for a UF student to be able to arrive home safely. Targeting a relatively wide audience in a college town would allow the word-of-mouth method of marketing to work well.

5. Me again - I'm currently a finance major at UF, and before coming here I completed my AA in Accounting at FAU. This gives me a good background in the financial aspects of running a business, which would be very useful not only in the beginning stages of the venture, but throughout its existence.

6. Social capital - my family. My parents have each owned and operated their fair share of entrepreneurial ventures, so being able to have their support would be an advantage for me. They have valuable insight to offer that could help MA flourish in the market.

7. Capabilities - Owning a car. Because I already own my own form of transportation, I would be able to do some field tests to see how far away certain locations are, as well as the best routes for drivers to take when transporting students.

8. Financial capital - money. I do have some money saved from a previous job, which would allow me to kickstart MA. My parents also help to financially support me, so I'm confident that they would support me in my business venture,

9. Social capital - UF itself! The University of Florida has a long, upstanding history including generations of Gators supporting the school. By either having people donate to MA or just spreading the word about it, MA can be on its way to helping more students get home safely.

10. Capabilities - attitude. I am very friendly and persuasive, which are good traits to have when proposing a business idea. Because of the way I've designed MA, before it can really take off it would need to be approved by the school. I would feel confident in organizing a presentation and making my case to those in charge.

I believe my top resource would be me and my personality. My can-do attitude, support system, and personality would all be assets in making MA a reality. I think I would be more important to my venture than the other things because every good idea needs someone to come up with it and guide it into fruition.

Week 10 Reading Reflection

I enjoyed this week's reading more than the others, as I am already familiar with many of the concepts discussed in this chapter (I spent the first two years of my college career studying accounting). Therefore, there were no huge surprises for me in the reading this week. I would ask the author whether they think it makes more sense to choose a venture with good funding resources, or a venture with a higher possibility of success, but with substantially less funding. I found it interesting how many different aspects there are to consider when it comes to funding a business. Much of the text involved facts and figures that I was previously familiar with, so I agree with what the author says.

Elevator Pitch No. 3

I really enjoyed receiving all the feedback I got from my last elevator pitch. There were a lot of insightful comments, leading me to believe that people watched my idea and truly thought it could become a reality. The main aspect I've changed based on the feedback I received is the pricing model. I originally said that the first 3 rides would be free for students, and all additional ride fees would be determined by distance. Then, someone brought to my attention that Uber rides are a lot cheaper than I had thought, putting MA in direct competition with a pretty large competitor. To avoid this, I've decided that students will be offered a semester fee while paying their tuition (somewhere in between $5-$15 depending on location), and after that fee is paid they can have unlimited rides for that semester. Because of this, MA will remain a UF student-exclusive service and is hopefully more cost-friendly to UF students.

Week 9 Reading Reflection

The biggest surprise for me in the reading was how many of the concepts related to the assignments we were doing in class. For example, when we went out and interviewed potential customers, it was like we were gathering primary data for our concept. Two questioning methods for primary data are surveys and experimentation, which I think we used in developing our business ideas. I would want to ask the author whether they think Internet marketing or in-person marketing (ads, flyers, surveys, etc.) is the most effective, and whether they think one is more effective than the other depending on the type of business being advertised. I wasn't confused by this chapter, and I agreed with the majority of what the author said.

Idea Napkin No. 2

1. Me: Like my first idea napkin discussed, I'm still a student who gets easily aggravated about transportation issues I face while attending the University of Florida. These aggravations, along with seeing the huge number of people at midtown while driving back to my dorm, led to my idea of Mid-Assist. As far as skills and experiences go, I have worked in customer service for the past 5 years, so I am familiar with helping customers and handling customer  complaints/problems. If this idea were to become a reality, I imagine that I would be happy that I could leave a small legacy behind that would be able to help future Gators.

2. The service I'm offering is a set of school-sponsored vehicles that would take off-campus students from midtown to their respective dorm/apartment, which would operate Wednesday to Saturday from 10 pm to 3 am. The first 3 rides would already be paid for within each student's tuition, but the cost of rides after that will be based on the distance traveled. MA cars will be able to be booked for a specific time in advance, offering the customer a more convenient and worry-free travel experience. I think there's always a need for safe transportation, especially in a college town at night. By offering people an alternative method of getting home safely, MA cars could prevent attacks and drunk driving, making Gainesville a safer place for all.

3. All of my customers will attend UF, as MA cars will only be able to be booked through a student's Gatorlink account. They will also all be coming from the same area, live off campus, and (with some exceptions) be within a few years of age. I would expect that women would be more likely to use this service over men, but can definitely benefit everyone.

4. My customers would pay money to use my service because MA offers students a safe and affordable way of getting home from midtown late at night. By being school-sponsored, students can be assured that they will arrive safely to their destination, as well as not need to worry about less desirable drivers they may encounter. Since the driver will be paid hourly, they may also save money by not needing to tip their driver.

5. I think that MA is unique because it caters to those directly in the midtown area. By only taking students from one location, the MA cars should be able to make their drives shorter and more efficient, allowing other students to then book the car. This is different than SNAP vans, which pick up from multiple locations and caters only on-campus students. SNAP vans also cannot be requested for a certain time. By adding a specific time to be picked up, students will not have to wait in the dark for a ride home.

I think these elements mesh together quite nicely. I was able to make some changes from my original idea based on the feedback I received, and I'm now happier with my concept. I think there are enough unique aspects to interest customers, and that my business idea makes sense for the area that I plan to pursue it in.

Feedback Memo

One of the main comments I received was the question of where the revenue would come from. In my original idea, the rides would be paid for by the school. However, after thinking more about it, I decided that the first 3 rides will be free, and any subsequent rides will be charged based on the distance traveled. The initial 3 rides cost would be added to the tuition (another point addressed in feedback), but would only cost roughly $15 (more research into what percentage of our tuition is going towards SNAP would be helpful). Feedback also helped me to decide that the MA cars would have to be able to be requested for a specific time, otherwise it may be considered too similar to the Later Gator buses (a tough competitor in the sense that the bus is free). One comment asked how many cars there would be. I believe it would be best to start with 2 cars, maybe test out their popularity in a summer semester, and if successful be able to add more cars to the operation for the busier fall and spring semesters. Finally, I received feedback that suggested partnering up with SNAP as they already have a large user base. This is an interesting idea, but may go against MA's idea, since we would want to portray that taking a MA car is better than taking a SNAP van.

The Twenty Percent

After talking to the entrepreneur and customers of Gameroom, I think that management has a pretty good understanding of customers' needs. As the manager said in his portion of the above video, sales have increased by 10% in the past 5 years, and he projects that sales will continue to increase. I think very few differences exist between the customer's and entrepreneur's views of the issues customers face. If any differences do exist, it may be because the entrepreneur has not had the same issues experienced first hand, and therefore has not realized that there is a situation that has to be resolved.

Week 8 Reading Reflection

In this week's reading, I was surprised that many entrepreneurs need to use debt and equity financing to fund their ventures. I would imagine that entrepreneurs would prefer to stick to one method of borrowing, although apparently this is not the case. I am surprised/confused at the venture capitalist myth that they do not want control of the business. Without having some level of control of how the company is being run, how can they be completely confident in their investment into the company? I would ask the author whether they think debt or equity financing is better in general for a small start-up company, and if they had any personal experience with either of these methods. Other than the venture capitalist myths, I agreed with the rest of the reading.

Half-Way Reflection

1. Tenaciousness is definitely something you learn as you go through this course. By going out and talking to people, you can become better at expressing your thoughts and ideas, as well as learning how to better interact with people and see how they're thinking and feeling. Some of the behaviors I've developed while being in this class are looking ahead for assignments to see how much work they require, blogging in general, and uploading videos to YouTube.

2. There has been more than one or two moments during this class where I thought I wouldn't be able to complete an assignment. What pulled me through is knowing that once I actually started to do the assignment, it wouldn't end up being so bad. While I don't think I've developed a tenacious attitude, I have made steps towards becoming more outgoing. The experiences that have contributed the most to this have been those assignments where we had to go out and talk to/record people.

3. Three tips I would offer students in this class is to not be afraid to talk to people (I was, and it ended up being fine), give thoughtful feedback to other students because it can make you think more about your own ideas, and to really listen to the feedback you receive from other customers/classmates because they could potentially be your future customers!

Free Money

My strategy: After reading the assignment, I predicted that this would be an extremely uncomfortable situation (which it was). I tried to think of a creative way to give someone money without offending them, and after not being able to come up with anything I came up with the idea of them "doing me a favor". So, I told people that I was trying to improve my karma and that it would make me happy if they were to take the dollar. I tried to approach girls who looked around my age and were either walking somewhere or on the phone. I planned to ask them if they had dropped a dollar, and if they said no to then say "Well it's not mine, do you want it? It'll be my good deed for the day", or something along those lines. I predicted that no one would take the dollar. Two of my encounters are below: 

As you can see, I was unsuccessful in being able to give away the dollar. The rest of my attempts went in a similar fashion. Overall, I think that if I had approached a different way, I may have had more success. On the other hand, I don't think that going up to people on the phone is a good strategy at all. They are already doing one thing, and even "free money" won't change the fact that they are being interrupted during an activity. Reflecting on this exercise, I think that the best way to get a customer's attention is to entice them when they are looking to be enticed. Maybe walking up to people in a mall or other place where people are expecting social interaction would fare better results.

Week 7 Reading Reflection

One of the things that surprised me in this week's reading was that Daniel Yankelovich asserted that non-demographic traits are MORE likely to influence a buyer's decision-making process, as opposed to their demographic traits. I somewhat disagree, and would amend that there are other factors besides demographics to consider, but that they are still the main component of buying patterns. Let's take buying a motorcycle as an example. Sure, the buyer would need to like the bike and maybe prefer it over other modes of transportation (non-demographic traits), but they would not even consider it if they were not old enough to ride one or have enough money to purchase it (demographic traits). I'd probably ask the author if he still felt this way about product patterns. He made that assertion in 1964, and as things have gotten more expensive I would be interested to see if he believes the focus has shifted to demographic traits. Besides that one section, I followed along with the rest of the reading.

Elevator Pitch No. 2

I really tried to incorporate the feedback from my previous elevator pitch into this one. I tried to be a little more dynamic with my pitch, as well as practice more before actually recording. I agreed with the majority of the feedback I've received so far, and received positive commentary from actual off-campus students saying that they would be interested in this idea. Thinking about the customer interviews helped me to think about the practicality and possible setbacks of my idea as well. I think this elevator pitch has improved from the previous one, and I'm looking forward to developing my concept throughout the class.

Week 6 Reading Reflection

In the reading, I was surprised that when the five forces that shape industry competition are strong, there is actually little profit to be made in that area of industry. Upon further thought, this makes more sense, but it was initially confusing. For example, in the airline industry where there are so many other options, strong threats of new entry into the market, and where suppliers have a high bargaining power, airline companies can see a low return. In industries where these forces are less strong, like software or cell phones, companies stand to make a higher profit. I agree with most of what the author presents here, but would ask him whether the threat of substitutes is really something that can be stopped- especially in America, where capitalism and small business have been cornerstones of our economy. More products enter the market each and every day, which could both help and hurt other businesses.

Customer Interviews No. 3

My strategy: Like Dr. Pryor's email suggested, I wrote down a short description of the service I am offering (If this is your first visit to my blog, my idea is Mid-Assist (MA), a set of school-sponsored vehicles that will take students from the mid-town to their off-campus dorm/apartment). I plan on asking UF students, primarily those that live off campus, their thoughts and opinions on MA. The questions I ask will be why they feel the way they do, and if they have any suggestions for improvement.

Note: I'm having some technology issues right now, so unfortunately I was unable to record the customer interviews I conducted. However, I have typed out my questions and their responses below.

Customer 1: Benson
What are your initial thoughts?
I think it's a really good idea because it's almost an exact opposite of what SNAP is, which is mostly on campus, so it doesn't necessarily help those that live off campus, so this is a good alternative.
Why do you feel this way?
I am an off-campus student so this would be more helpful for me than SNAP.
Do you have any suggestions for improvement?
There would have to be a way to make sure that people who are reserving a seat in the car are actually UF students. The app should be connected to Gatorlink, so that only UF students can go on. This is also a good idea because the University would be provided with a record of who take the car, which would be good if that information was needed. It could be an electronic alibi for students in case a situation came up where they needed one.

Customer 2: Bailey
What are your initial thoughts?
It's a good idea because besides buses, there's not really a way for people to get home safely. I mean, there's Uber and stuff but that can be expensive. There's definitely a need for it.
Why do you feel this way?
I'm not a frequent mid-town goer, but I remember freshman year when I used to go out and it was really difficult trying to figure out what buses to take or how to get back to my apartment, especially under the influence. It can be really confusing and it can be really dangerous if you don't have a good group of friends surrounding you. I think it would be helpful.
Do you have any suggestions for improvement?
I would suggest checking with places in mid-town to see if they're also busy on Sundays, Mondays and Tuesdays. I also think that since it's through an app, users should have to make an account that comes with a form with their name, address, and an emergency contact. The car should also be able to tell people if something happens with the car so they know that their ride isn't coming any more.

Customer 3: Alec
What are your initial thoughts?
This is a good idea.
Why do you feel this way?
There's been a lot of robberies around campus lately, which could be from people that walk home from mid if it's too late. This would help those people.
Do you have any suggestions for improvement?
Students at UF who are responsible drivers could be allowed to drive the cars and be able to get paid.

Customer 4: Emily
What are your initial thoughts?
I feel that it's a good system. Kids that live off campus should be escorted to their apartments as well as on campus, which SNAP does not do.
Why do you feel this way?
I am an off-campus student and have had to walk home before from the mid-town area.
Do you have any suggestions for improvement?
There should be a phone number in addition to the app to be able to reserve a seat in the car. Also, if any drunk students happen to make a mess in the car (throw up, etc.) they would be liable to pay a fine.

Customer 5: Amanda
What are your initial thoughts?
I think this is a great idea. I go to mid a lot and it's always a hassle trying to get back to my apartment afterwards.
Why do you feel this way?
I live off-campus, so I can't use SNAP to go home after a night out. Having a way to get home that I know is safe and reliable would make the "going out" experience a lot easier to plan.
Do you have any suggestions for improvement?
I have friends that visit UF, so it would be nice if the cars could also take non-UF students home. Also, it would be nice if the cars could be booked for a certain time. When I lived on campus and had to use SNAP, it always took such a long time and it was annoying to have to wait.

After my third round of interviews (pats self on back) I think I have learned that while my idea is feasible and would solve a need in the market, it has some kinks to work out. I originally had thought of MA as somewhat of a nighttime route, with planned stops at mid and then circulation around certain areas. After talking to customers, I think that MA would work best as a premium service, where UF students will be charged a fee for a certain number of rides, and they will be taken directly to their dorm/apartment (non-UF students would need to pay for each individual ride, and would need to be accompanied by a current UF student). The rides would be booked through an app that will be connected to students' Gatorlink accounts. The car would offer students complimentary water, and have some snacks available for purchase.

Idea Napkin No. 1

1. Me: As it relates to my future service, I am a student at the University of Florida who drives a car and someone who becomes extremely irritated when I can't find parking relatively quickly. Transportation issues led me to think of my business idea of Mid-Assist (MA). I have worked in customer service for the past 5 years, and know from those experiences that the customer may not always be right, but they are still the customer. If this business idea were to become a reality, I imagine that it wouldn't play a huge role in my life, but may be a big role in the lives of my fellow Gators. This would be meaningful because it would be really cool to leave behind something that could benefit future Gators.

2. I'm offering a set of school-sponsored vehicles that would be driving students from the mid-town area to their off-campus, respective dorm/apartment on Wednesday-Saturday nights from 10 pm to 3 am. This solves customers' unmet needs because there currently is no school-sponsored vehicles in operation to assist student living off campus. This is a relatively big problem, considering the majority of UF students live off campus. This also could prevent drunk driving and attacks late at night.

3.I'm offering this service to all UF students. The service is free for all  UF students with their Gator 1 cards. The service would not be available to those who do not attend the University of Florida. Attending the university, living off campus and needing a ride home would be something that all of my customers would have in common.

4. Customers would use my service because everyone wants to get home safely after going out for the night. MA (Mid-Assist) provides students with an alternative to walking home in the dark, walking to campus to wait for a SNAP van, or looking for an Uber or taxi.

5. I think what would set my business apart from other driving options, like SNAP, is the fact that is catered to the mid-town area. SNAP vehicles take such a ling time because they are ferrying students all over campus. By only picking people up from one location, the drives should be faster, thus making the cars available to more students.

After writing down these bullet points, I am more confident that my idea is a good one. I think the parts mesh together nicely, and that if this business were to become a reality it would be able to benefit a lot of students. I believe most aspects of the business are connected to the others', and that it makes sense as a whole. The one thing I would have to be sure of is that students know that this service is primarily for off-campus students.

Week 5 Reading Reflection

The biggest surprise in this week's reading was how many of the common pitfalls encountered in selecting new ventures seem to be common sense. For example, the book says that two main issues people run into are ignorance of legal issues and lack of venture uniqueness. When starting a business, one would think that making sure their product is unique and, of course, legal, would be of top priority. However, there are so many facets of starting a venture that I suppose some things can fall to the wayside. I was confused when the book talked about growth patterns in the start-up phase of a new venture, since I don't understand how entrepreneurs can predict how many of their product will sell at a certain time. I would ask the author which approach they would recommend for starting a venture: the feasibility criteria approach or the technical feasibility approach. I would also ask why they would choose that specific approach, and I would ask to gain further insight into those two topics. I agreed with what the author said for this week's reading.

Interviewing Customers No. 2

1. This round of interviews went a lot better than the last ones (in my humble opinion)! When I first interviewed potential customers, I asked them whether their parking needs were being met. I have fine tuned this opportunity to transportation in general, specifically when coming home from a late night out. My elevator pitch highlights the idea of Mid-Assist, or "MA", which is a school-sponsored set of vehicles that will take students home from midtown to their dorm/apartment.

2. The "who" of the interviews was pretty general. My questions required students who have been to midtown, which all of the interviewees had been, some of which frequenting the area at least once a week. The people chosen to be interviewed this round worked out better, since every person interviewed could use the potential service.

3. My interview questions asked were very different from the first set of customer interviews. I completely changed my opportunity based on my elevator pitch, allowing me to ask more specific questions. In my first interviews, I talked about how UF does not offer enough parking options for their students/faculty. While this may be true, offering a set of vehicles to take students to where they need to go is a much more plausible feat.

4. Interviews: Video posted above!

5. I think this opportunity will be a lot more plausible to implement, and could potentially help a greater percentage of students than my first opportunity.

6. Interviews are still a challenge! I think it will always be a little uncomfortable asking to interview/record people. However, practice makes perfect, and I hope to improve as time goes on. Three tips I would offer to future students would be to find a group of people to interview rather than one person so they can feed off of each others' responses, try to find someone to film it for you so that it's not just you holding a camera in someone's face, and to try not to be discouraged when someone doesn't agree with your idea.

Elevator Pitch No. 1

The opportunity I am choosing to pursue is transportation. Specifically, the lack of transportation for students in midtown trying to get safely home. My idea is "Mid-Assist", a set of school-sponsored cars that would transport students from the midtown area to their on/off campus dorm or apartment. I think this fulfills an unmet need because the current school-sponsored vehicles, SNAP, only operate on the UF campus. This doesn't benefit the large majority of UF students who live off campus or students at midtown who would be forced to walk home at unsafe times of the night. By adding this type of service to what UF already has, the school would be able to help more students get home safely.

Week 4 Reading Reflection

I was surprised by the multiple kinds of innovation that the text presented. When I think of something "innovative", usually a cool product comes to mind, or maybe something that follows the lines of "building a better mouse trap". It was interesting to see it laid out into the 4 categories of invention, extension, duplication and expansion. I agreed with the author when they said that people put more emphasis on left-brain development than right-brain development. I was confused (and not totally sure I agree) with the author when he argued that people are inherently creative, and some of us choose to stifle that creativity. I think that perhaps our environment causes people to think analytically, but that doesn't necessarily mean we are purposefully negating inherently-creative thoughts. I would ask the author what they think people should do to increase their creativity and why they think society has placed such a focus on left-brain development.

Customer Interviews No. 1

Some of the interviews got cut off a little early due to technical difficulty; I'll have this fixed before the next customer interviews!

In my customer interviews, I decided to explore the opportunity of adding more parking spots on and around campus. In each interview, I tried to gauge how important the interviewee thought the issue was as well as if they would be willing to pay extra money in order to create a solution. I didn't exactly have an interview strategy, but I will say that it was pretty challenging for me to walk up to people and ask to interview/record them. I tried to interview a mix of people who lived on and off campus, both with cars and without, to get a more rounded view of what potential customers think of this opportunity. After interviewing people, I think that most people would agree that there are not enough spots for the number of students attending. Four of the five people interviewed stated that they would be okay with paying a small fee to UF with the promise of building more parking structures. Three of those five people did not live on campus, and one of those people did not have a car. This demonstrates the extent to which students believe there should be more parking on campus.

Top 5 World Problems

Top 5 Problems:

1. Lack of clean, drinkable water in third-world countries.
2. World hunger in third-world countries.
3. Rape on college campuses.
4. The HIV spread.
5. Israel/Palestine feud.

Top 5 Solutions:

1. There should be a higher police presence in and around college campuses at night.
2. There should be more awareness in third-world countries about HIV, AIDS, and how to protect oneself against it.
3.Countries should make more of an effort to provide other countries with clean, drinkable water.
4.Scientists should develop a crop that can be grown in the soils of third-world countries to give them the opportunity to eat, as well as sell the crop to be able to buy other goods.
5. The ambassadors from Israel and Palestine should come together to form some sort of solution.

I selected my number one problem, a lack of clean drinking water, as the worst problem on my list because water is one of the basic elements humans need to survive. Without water to drink, people can become dehydrated, making their bodies slow down and eventually stop working. I believe my top solution is the most implementable because there has already been some police presence shown around various universities, such as UF. We are only a few steps away from the solution, which is increasing the number of patrols and spreading out their location to protect more students.

                                                      

Week 3 Reading Reflection

What stood out to me the most in the reading was the section where it discussed how entrepreneurs don't really create ventures- rather, creating a venture turns a person into an entrepreneur. I have never thought of entrepreneurship like that, so for me that section allowed me to take a step back and view entrepreneurship in a new light. I also didn't realize how many negative things can occur from being a entrepreneur, like loneliness and people problems. I was confused by the idea that entrepreneurs can have unrealistic optimism, simply because I feel that I would approach every situation with a great deal of caution and trepidation. I would ask the author if they thought that it would be necessary for an entrepreneur to have the negative side effects to truly be successful, and if it is necessary for entrepreneurs to have some level of a "destructive vein" to really appreciate their level of success. I agreed with the author's viewpoints in this chapter.

Identifying Local Opportunities

1. Florida leads U.S in new HIV cases after years of cuts in public health
http://infoweb.newsbank.com/resources/doc/nb/news/15A8E3CBDB765D70?p=AWNB
The article discusses that Broward and Miami-Dade counties are among the top counties in Florida when it comes to HIV infection cases. It is argued that this increase is a result of cutting spending when it comes to staffing at the Department of Health's HIV program and a general decline in the state work force every year since Governor Scott has been elected. This problem of growing HIV cases can affect the entire population of South Florida. The people who have this problem are those infected, as well as those at risk for becoming infected with HIV.

2. Miami-Dade's unemployment rate inches up in December amid Latin American woes
http://infoweb.newsbank.com/resources/doc/nb/news/15A8E3CB0E055EE8?p=AWNB
This article talks about how certain Latin American economies are having an effect on South Florida's economic growth. Economists have noticed slowed growth in key industries, such as construction and tourism. Because there are several Latin Americans residing in South Florida, any changes in their currency/economic status have the ability to have a substantial impact on the South Florida area. This issue of unemployment affects people who can't find jobs in the struggling job market, as well as the vendors in that area (as there will be less available customers).

3. Miami-Dade to face tough choices as federal funding for uninsured dwindles
http://infoweb.newsbank.com/resources/doc/nb/news/15A83B0A30530860?p=AWNB
This article talks about how a lack of money to support those people who are not insured can put the ability of local hospitals to help certain charities in jeopardy. Florida has refused to expand MEdicaid to all low-income adults, making it much more difficult for insured citizens to receive medical care. The Obama administration has also reduced the amount of federal dollars mandated to the Low Income Pool, making less money available to those uninsured. This problem of lowered aid to uninsured people affects those who do not have medical insurance.

4. Miami PD to begin work on state's largest backlog of untested rape kits
http://infoweb.newsbank.com/resources/doc/nb/news/15A2F50A6EE42E50?p=AWNB
This article talks about how Miami-Dade county has upwards of 3700 untested rape kits, which is the most in the entire state. However, because there is a nationwide push to examine all DNA from alleged sexual assault cases, Miami PD will begin to go through all of their untested kits and put them in the system. The problem is that there are so many untested rape kits that even if someone was caught, there is a chance that they would not be prosecuted for all of their crimes, simply because of a lack of evidence-handling. This problem affects the justice system, as well as rape/sexual assault victims in the Miami area.

5. New mosquito-borne virus Zika spreading in Caribbean
http://infoweb.newsbank.com/resources/doc/nb/news/15A7924D5C684EF0?p=AWNB
This article discusses how the CDC is warning people, particularly pregnant women, traveling out of the country about Zika, a virus spread by mosquito that can affect the development of babies' brains. The virus, originally from Brazil, has now spread further north to Haiti. While the number of cases has increased dramatically in 2014, CDC officials are still doing research to find out the full impacts this disease may have. The issue here is a disease is becoming more prevalent in an area that is not too far away from our coasts. All people living in South Florida could potentially be affected, but there is a special risk for pregnant women.

Very Short Interview No. 1

I decided to interview my friend Adam Penias for this interview. He first began DJing when he was 12 years old, and began his event production company, Extreme Productions, one year later. Since then, he has been working at growing his production business, and it is now one of the most successful in South Florida. While he does not exactly fit the qualifications specified by the textbook of what an entrepreneur is, I would absolutely classify him as such. He was able to grow his business throughout high school and into college, to the point where it is recognizable as a professional service that can be used for bar/bat mitzvahs, weddings, and the like. He liked being an entrepreneur so much that he recently opened a new business, a luxury hookah bar in Hollywood, Fl. The bar, MYXX, has already shown great promise and is starting to amass a loyal following of hookah smokers.

The Interview
1. Question: How did you first get your business off the ground?
Answer: I made a small investment of $1000 to get myself started with the beginning equipment. After starting to book more and more events, I slowly began to update and upgrade my equipment. Each event can require different technology, so I try to have a good mix of speakers, amps, and lighting options.
2. Question: What would you say the most important aspect is of running your own company?
Answer: Definitely being responsible. There is no more play time when owning a company. It's 100% effort all the time. It can be hard sometimes because I still want to be social and do well in school, but I always have to think about what is best for Extreme.
3. Question: If you could go back to the beginning before you started your business, is there anything you would do differently?
Answer: Nope! Everything I've done has brought me to where I am today and I wouldn't change anything. The learning in the beginning was necessary so that I could learn and grow from my mistakes, which led to me avoiding those mistakes in the future.

After talking to Adam, I see now that owning a business at such a young age can really mature a person. I think it shows a lot of dedication that he is forgoing some of the more traditional, "party" aspects of a college lifestyle to make sure that his business succeeds and that his clients remain happy. It also reinforces that the idea of making Principles of Entrepreneurship an experience-based class is a good one. Adam would have never learned all the things he did by reading books about becoming a DJ or owning a business. By doing it through experience, he was able to learn more, and consequently use that knowledge to better himself as an entrepreneur and simultaneously better his business.

The World's Biggest Problems

1. Rape is becoming more and more apparent on college campuses. An increasing number of students are becoming victims to a horrible crime; currents stats show that 1 in 5 women will be sexually assaulted in college.
Solution: There needs to be a higher police presence on college campuses at night, and students must be encouraged to report any suspicious activity.
2. There is a lack of clean drinking water in several third-world/developing countries. Humans need water to survive- without it their community's health will begin to deteriorate and people will die.
Solution: Surrounding countries should make more of an effort to provide clean drinking water to those countries in need. There could also be some sort of tax imposed where the money raised could be used to provide water.
3. Countries need to take a more active role in stopping global warming. Multiple countries need  to to come together and agree to make these efforts, because one country doing it is not enough to stop the spread of this global issue.
Solution: in progress! A document was recently signed where 196 countries signed a treaty agreeing to help with global emission cutback, conserving energy, etc.
4. The ongoing feud between Israel and Palestine. While this is not happening all over the world, news of their war has percolated around the world and has affected various neighboring countries.
Solution: Have their ambassadors come together and try to come up with a reasonable solution. Religious wars will probably always exist, but there has to be some sort of balance so that neither side loses more lives.
5. World hunger is a huge issue. Millions of food is thrown away in some countries, while in other people do not have enough to eat.
Solution: Scientists should create some sort of crop that would be able to grow in the climates of the poorest countries. This way, they would be able to grow food for themselves, and in turn sell that crop to make money, giving them the ability to buy more food that they can not grow themselves.
6. Money issues- many countries are either on the brink of financial collapse, or starting to head in that direction. This can be because of too much borrowing or high interest rates imposed by other countries.
Solution: There should be stricter laws imposed when countries need to borrow money. Their financial history should be checked to make sure that they have the ability to pay back whatever amount of money they are borrowing.
7. Millions of people are being diagnosed with HIV, AIDS, and other STDs. The medication for these diseases is either nonexistent or is extremely expensive.
Solution: There should be more awareness about what these diseases are and how they are transmitted. Treatment should also be made less expensive so that more people who are suffering from the disease can be treated.
8. Deforestation of various rain forests has encroached on various species' habitats. By taking away their living space, many species could become extinct.
Solution: For every tree that is cut, at least two or three should be planted to replace it. We also need the trees to provide oxygen and take away carbon dioxide, so this will simultaneously help humans and animals alike.
9. Bullying is also a global issue. Now that the Internet is available, people are able to make fun of others virtually and can have access to their victims at any point in time.
Solution: There should be a law against cyber bullying, and offenders should get jail time. Kids should also be taught from a young age that bullying is not the right thing to do and the consequences of doing so.
10. Animal cruelty is a big issue particularly in the United States. There have been various videos of people abusing animals, and citizens come together using social media to catch and apprehend the person responsible.
Solution: Continue to use social media to catch these people, and make animal cruelty punishable by law, as well as order the wrongdoers to never own another animal.

Week 2 Reading Reflection

1. While reading the first chapter, I was surprised at how technical entrepreneurship can be. I thought the book would be about starting a business and its aspects, like raising capital or growing a business. I was surprised that there were so many myths about entrepreneurs, and that that there were various schools of thought involved with entrepreneurial ventures. Overall, I was very surprised at all of the terms and definitions that are associated with entrepreneurs. Maybe I shouldn't be, considering this is a textbook on the subject, but it stuck me as surprising since I had always pictured entrepreneurs as these free spirits who took charge and did what they wanted to do. This is, of course, still what entrepreneurs, but reading a textbook about the history of entrepreneurship has changed my perspective.
2. One part of the reading that confused me was the schools of entrepreneurial thought. The 3 different schools (environmental, capital, and displacement) for the macro view seemed to have a smaller effect on the entrepreneur than the micro view (schools of venture opportunity and thought). I thought this because without the right ideas, opportunity, and wherewithal the entrepreneur would never be able to start their business. I was also confused about the schools in general, because they described categories in becoming an entrepreneur that I had not previously considered.
3. If I could ask the author two questions so far, they would be if the author him/herself had any entrepreneurial experience, and to ask for some clarification in describing the schools of thought. I would ask these questions so that I could see what point of view the author was writing the textbook from, and because the schools of thought concept had confused me, as I have discussed in the previous question.
4. I didn't agree with the section where the author clarifies the difference between small business owner and entrepreneur. A small business owner is still taking the same levels of risk and throwing themselves into the unknown in the hopes of being their own boss, making a difference and being successful. I think small business owners are entrepreneurs in their own right - perhaps on a smaller level, yet many still put enough "skin in the game" to earn the title of entrepreneur.

The Bug List: Things that Tick Me Off (pun intended)

1. When there is a long line at any Starbucks/Dunkin Donuts/fast-food restaurant because there is only one cashier and too many people making the ordered items.

Why: The employees could not know how to operate a register, in which case management should teach them.

2. When customers complain about the price of the gamecards while I'm trying to suggest options for them to choose from.

Why: Perhaps they've never been there so they are unfamiliar with the average price of games. On the other hand, complaining to me (the cashier) doesn't do anything because I can't change the prices. They should allow me to fully explain the prices and they can choose which option they can afford.

3. When professors say that even if they don't discuss something in lecture, if it is in the book it is still "fair game" for the exams.

Why: Professors do this so that students will actually read the book. However, this is somewhat unfair because why would I go to class to learn if not all the material is being presented. Professors could at least say what topics from the book they will not discuss, but students should study.

4. When people cut me off in traffic without using their blinkers.

Why: This happens because there is no traffic law that forces people to use their blinkers. People should either have to take driver's ed classes to be able to renew their licenses or police should be on the lookout for these types of drivers.

5. When online subscriptions automatically renew without telling me.

Why: The company does this to make money. However, better customer service should include some sort of notification of what you are being charged.

6. Drivers who drive too slow in the fast lane of the road.

Why: There isn't a law preventing people from doing this. I don't think people need to get a ticket, but there should be more signs than tell people to only go in the fast lane if they plan on actually going fast.

7. Not winning the Powerball jackpot.

Why: The government has made the chances of winning ridiculously small, yet provides enough winners to keep people hopeful and buying tickets. The lottery should be made so that more people have a chance to win.

8. The fact that after paying for classes I am still forced to buy online supplements that cost me more money.

Why: This happens (I think) because the school most likely has a deal with those websites and are able to make some profit from the sales. Students should either receive these items at a discount or it should be included in the price of the class.

9. That high-end stores rarely offer any sort of sales.

Why: They want to remain "high-end", and having lower-priced items would make them appear cheaper and less exclusive. However, offering a price that more people could afford would allow more people to actually have the product.

10. That Victoria's Secret yoga pants are all way too long on me. 

Why: The store should provide more variety in their pant lengths to accommodate for more customers. This problem exists because they're making clothes for people with modelesque heights.

11. When people in stores put items back in the wrong place and then I think the item is a different price.

Why: There may not be an employee walking around looking for out-of-place items and putting them back in their proper place. This employee should exist at all department stores.

12. When I pay extra to have something shipped quickly but it takes just as long as normal shipping.

Why: The company could've been on back-order for the item, in which case they should not allow customers to pay extra for shipping when they know they do not have the item in stock.

13. When coupons are accepted in some locations of restaurants/attractions but not others.

Why: The company wants to increase their sales in certain areas over others. However, all locations should accept the coupon because I am still a paying customer at their establishment.

14. When the mall I work at told me I had to park completely outside the mall's parking areas for the entire month of December.

Why: They were trying to offer more parking spots to actual shoppers to give them a less frustrating parking experience. However, as an employee who will ultimately assist those shoppers, I found the rule completely ridiculous. The mall should build more parking structures.

15. When the mall forced employees to register their car to ensure that they were parking in the correct zone.

Why: The mall would put boots on the cars of mall employees who did not park in the right area and charge employees to take them off, making the mall more money (again, ridiculous). If the mall wanted more money, they should build more stores.

16. When people cut me off when I am trying to explain something to them.

Why: I chalk it up to people being so surrounded by technology that many people have forgotten how to have a proper conversation.

17. When Bath and Body Works has sales and the cheapest items are the ones that smell the worst.

Why: The company is trying to get rid of the remaining items that didn't sell when they were full price. However, since they still weren't nice-smelling I didn't buy them, even for the reduced price.

18. When the people working see that there are other customers waiting but do not go any faster.

Why: They're probably still trying to give customers a good, non-rushed experience, but this practice can be quite irritating to the people who are waiting to be helped. They need to work more efficiently yet effectively to help all of the guests.

19. When people start to eat their frozen yogurt before I've weighed it.

Why: People are trying to pay less for what they've put in their cup because no one wants to pay more when they could pay less.

20. When I go to a school supply store and they are out of the school supply that I needed.

Why: The store did not expect to sell that many of the product, and did not have enough inventory to meet customer demand. They should've made a better prediction of how much product to have in stock.

I was surprised at how hard it was to think of things that bugged me. Rather, while I could endlessly list things that annoy me, it was hard to think of things that had a "why" that could be feasibly solved. For example, I am annoyed when people are having a conversation and they're talking so loudly the entire world can hear them. Why they do this? I have no idea, but it did not have a simple solution. I discovered while writing the list that many of the things that annoy me involve waiting in line, activities that take longer than they should, and stores with policies that I don't agree with.

My Entrepreneurship Story

I have been exposed to the entrepreneurial way of life mainly through my parents. When I was in elementary school, my parents owned and operated a Woody's BBQ restaurant. They worked there for about 8 years, and in that time I saw how difficult being an entrepreneur was. My parents had to work long hours (the restaurant was open 7 days a week) and were always worrying about things that needed to be done. After the restaurant, my mom opened her own small sub restaurant in Coral Springs. Again, I saw how hard she had to work to make the business successful. I noticed that even being the boss, where you can assign work to others, has challenges of its own. My mom was involved in every aspect of the business, and it was her responsibility to make sure things went smoothly, not only for herself and her employees, but also that customers were receiving excellent service and food.

My other connection with entrepreneurship is through my friend Adam. He has been a DJ since he was 13, and has created, managed, and owns Extreme Productions, an entertainment company in south Florida. The business has thrived during this time, and is very successful. He has recently opened his own luxury hookah lounge in Hollywood. I remember helping him study for our various high school classes because he was always so busy making sure his business did the best it could. At that time, I don't think I fully understood why he didn't have time for school work. Now that I've gotten older, I can't imagine starting my own business and maintaining its high quality while in school full-time, and can see how remarkable his entrepreneurial abilities were, and still are.

I am taking ENT 3003 because I feel that this class has real-world value. I think that the topics we discuss and learn about in class can help me better understand what entrepreneurs must deal with, as well as inspire me to one day become an entrepreneur. While taking this class, I hope to learn more about what it takes to become an entrepreneur, and find out how one gets their business off the ground. I would also like to learn about female entrepreneurs and the challenges they may face when running their businesses.

.

Introduction Post

Hello to whoever may be reading this post!

My name is Bianca Marques, and I am a junior pursuing a Finance degree at the University of Florida. I'm taking this class on campus, but grew up in Cooper City, a small city in south Florida. When not at school, I live at home with my mom, dad, sister, and pet cat. I like to watch movies, hang out with friends, go to Disney, and work at my job (selling prizes, tokens, and frozen yogurt at a local arcade).

My dad is the general manager of the arcade where I have worked with him for the past 4 years. The home relationship clashing with work has occasionally resulted in some arguments over the years, but working with my dad has been an overall great experience. My mom is currently working at a furniture company, and before that she had owned and operated restaurants with my dad for the past 10 years. I had always admired her entrepreneurial abilities, which is one of the reasons I was interested in taking this course. My sister is currently a junior in high school, and is in the process of taking her SATs and looking into which college she may attend. I love my family a lot, so leaving to go to school was hard, but it's comforting to know that they are supporting me from home and want me to succeed.

As far as what I want to do in my life, I haven't quite figured it out. As far as a career goes, I hope to work in a company with a fun environment, with people that I can form friendships with. This is my first semester as a Finance major (I previously switched from accounting) so I'm still looking into what careers involve finance, and whether any of them would be a good fit for me. On the personal side of the coin, one day I would like to get married and have kids, and see the world somewhere in between.

From left: My dad, sister Miranda, me, and my mom

Week 2: The Entrepreneur's Mantra

First Post

This is a test post to make sure this blog is working.