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