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.

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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.