Week 15 Reading Reflection

1) This entire article surprised me as a whole. I had never heard of this sort of business model although I thought it was a really positive business idea. It gives people living with these very low wages hope for a better future through these loans.
2) I was confused on how he came up with the idea and started the company. I would want more clarification on the ground level of his business.
3) I would ask the author what the maximum age would be for them to give someone a loan. If the person dies while the loan is not paid off they would not make any money. Also how do you prevent people from taking the loan of money and running away with it to reestablish themselves somewhere else. It might be easier to do this in low income countries.
4) The author was telling more of a story than giving out facts. Therefore as long as the author did not lie I believe that the author was right about what they said.

Final Reflection

Final Reflection

My most formative experiences were my interviews with Marty Schaffel. I asked some general questions in my first interview and I was able to ask some more precise questions in my second interview. I was also able to ask some questions that I was interested in during the second interview. My most joyous experience was interviewing customers. I enjoyed talking to people and hearing their opinions. I was most proud of my Elevator Pitch videos. I feel as this was very important and necessary for me. An area that I would need to grow in is selling a product to someone else. I found that activity very useful. 

I believe I have begun to think in an entrepreneurial mindset. I have begun to notice what attracts customers to each business. I have also started to pay attention to different marketing techniques that business are using to increase their sales. 

The number one recommendation I would make to someone who is going to take this class in the future is to be confident and do your assignments before the due date. Gaining the confidence to do some of these assignments may not be easy but it will help you in the long run. 

Venture Concept No.2

Venture Concept Write-Up

The bathroom and kitchen has evolved tremendously over the past hundred years. With new technologies that include the toilet, washing machine, and microwave, people are always looking for new ways to make their life more convenient. My product offers this next great convenient appliance. I want to make the lives of Americans easier by selling the next great appliance. My product is a bathroom or kitchen sink that is automatic. This product is common in public places but I want to make it available to the everyday American. The user no longer has to put themselves at risk of germs and bacteria by touching a dirty lever. With the automatic sink you can quickly wash your hands win the most convenient way possible. This product is the future of all bathrooms as we have reached a point in our society that this idea is technologically possible and affordable for many Americans. 

What make my product different is the fact that I offer an installation package with a handyman while at the same time offering a high-tech product. My product offers variation from the normal, boring sink that people have in their homes. Not only will my sink be available in many different aesthetic designs but it will also impress any guests that you have in your home with the automatic dispensary of water. My product would offer a solution to every desire that someone would want in a home sink. It would offer a cleaner, faster, and more convenient way to wash your hands. While at the same time it would look very appealing to anyone that uses it. I would make my money off of the purchases and installation of the sinks. I will have a very drastic price range of sinks from a simple concept to a very elegant and fashionable design that fits the look of that you are aiming for in your bathroom or kitchen.

The goal of my company is to be the supplier of the next technological advancement appliance. We want to supply consumers with what will be the new norm of home bathroom and kitchen sinks. This is my vision because I believe it is a rare opportunity. There are many people out there who are willing to pay for the most convenient and high tech product on the market. There are also many people who have to replace their broken sinks and are looking for new alternative. The changes in environment that created this opportunity are the technological advances that we have made. This product is relatively new and therefore consumers need to be convinced of its worth before they feel comfortable putting it in their homes. My main focus geographically would be the United States but if I find that I am having success I would expand to Canada and other countries that I believe my product would be successful in. This is a universal product as everyone has a demand for sinks. Customers currently are using sinks that  have levers on the sides. These levers are dirty and unnecessary. My product offers an alternative to touching dirty levers. Once you wash your hands why would you want to put your hand back on a dirty lever to turn off the sink? This opportunity can be huge. Everyone uses sinks and people are constantly replacing, building, or upgrading their bathroom and kitchen sinks. This could be a very profitable opportunity. This window of opportunity may not be open for very long. I feel as if a large corporation may come up with a similar idea and put their plan into action. 

I believe customers will switch to this new product once they realize the benefits that my product has to offer. It is much better in many ways than the current product and therefore I believe customers would want to switch to the newer product. The competitors are any companies that sell sinks. I would be competing in the sink market which is very competitive. There are many very large players that if planned correctly would have a much better chance at being successful implementing my ideas than I would based on their brand name. I would start my company off with a website. From this website I would offer the consumers the product and installation and give them a specific price. I would then spend part of my funds on marketing. It is important that consumers know where to find our product. Once I begin making sales and expanding I would need to hire employees and inventory to keep up with the demand. This will allow me to progressively grow the company as I scale it to the amount of demand that I have. 

My unfair advantage is the way I can market my product. I believe that my product is undoubtedly the most convenient and easy product on the market. I would need to convince consumers to invest their money into my product using key words like convenience, cleanliness, and safest. The next opportunity that I would want to target with my venture is adding an automatic toilet as a product. This would change the dynamic of my company from a sink company to a bathroom appliance company. I believe the automatic toilet would work very well with selling an automatic sink as many people will be looking to buy both products at the same time. In five years I hope that my company will be such a hit in the United States that I will be able to make an easy decision to expand it to other countries. I hope that I have created a company that consists of many great and wonderful employees with whom I have grown close with. I hope that my company is respected and well-liked by all my consumers. I also hope that consumers genuinely enjoy my product and I am able to attain my goal of making their lives easier. I also hope that my company grows to become the most powerful player in my market. 

The feedback that I received reminded me of how saturated the market is for the product I am attempting to produce. I would use creative marketing techniques along with a personal installation to attract more customers. I would reach out to contractors and interior designers to make my sink the most recommended sink on the automatic sink market. I would also add an automatic toilet package to buy in compliance with the sink.I did not feel a need to change my venture concept but rather expand on what I previously created. 

Elevator Pitch No.4

Very Short Interview No.2

My opinion remains the same as it was the first time I interviewed Marty Schaffel. I remain very impressed with his ability as an entrepreneur and with his previous accomplishments.

1 What was your initial vision when you started your company? Several visions, wanted to start a company that was the opposite every place he hated of every place he worked. Place were people were treated well and equal. Everyone was equally treated.

2 When hiring individuals, what did you look for in an employee? Looked for people who were honest, motivated, excited about getting up everyday and making a difference. People who had initiated.

3 In what ways did you advertise and market your business in order to attract customers? Was in 1979 therefore done through mailings, making phone calls, going to different businesses.

4 In what areas of the world do you do business? United States, Canada, Asia, Africa, Europe, South America.

I was able to come up with much more in depth and thoughtful questions after taking this course. I also felt as if I had a better understanding for his answers. 

Week 14 Reading Reflection

1) I found that there was a lot for me to learn from these chapters. Although there was a lot to learn I thought the chapters were very practical. Therefore I was not very surprised by anything in the reading.
2) I was confused on what corporate venturing was. I did not completely understand what the author meant with this term.
3) I would ask that the author expand on what intracapital is. I did not fully understand this term
I do not have any other questions for the author
4) I do not think the author was incorrect in any of his statements. Much of this chapter was information and definition based therefore I do not believe he was incorrect.

Google Gold

1. The goal with Search Engine Optimiation (SEO) is to create the most traffic onto your webpage. I attempted to do this by using key words that were popular in whatever topic I was writing about. I would make sure to restate the main part of my assignment multiple times throughout the post.
2. Keywords that I included were business. customers, product, entrepreneur, money. These are words that usually attract viewers people are searching for a post and or article
3. I used youtube to attempt to enhance my SEO. These videos hopefully helped attract viewers to my blog.
4. My most “viral” blog post was the Twenty Percent post. Although this post only received twenty-two views. What makes this post very active is that I had nine comments. This was the most comments that I received from a post during this semester.
5. Using these key words, I was non-existent on the pages of google. My posts have not attracted nearly enough attention to gain a presence on youtube. I was able to find my blog on google, however, by searching Cameron Barsoum Blog. My blog was the first item to come up after searching this. 

Week 13 Reading Reflection

Week 13 Reading Reflection

1. There was a lot of information that I had some background knowledge with in this chapter. Nothing in this chapter came as a surprise to me. I expected most of the information in this chapter.
2. I was confused about the Adjusted Tangible Book Value. I would need practice and more examples to completely understand the concept.
3. I would ask the author about more information regarding anti dilution protection. I would like to hear more information about how this works. I would also ask what experience the author has in dealing with Valuation. 
4. I do not have enough knowledge on this subject to believe that the author was wrong about the information in this chapter. 

Celebrating Failure

Celebrating Failure

I did not do as well as I wanted on my first math exam of this semester. After not doing as well on the first exam as I wanted to I decided to change the way that I studied for the next one. I decided to get a tutor and do many more practice problems. I learned how to prepare properly for the exams in that class and I was able to do much better on the next exam. 

After the first exam I felt as if I had failed. I let myself down and I knew that I would need to rebound from this feeling of failure. I then devoted much more time and effort to being successful on this next test. I knew that the previous exam was in the past and I had to move on and do as well as I could for the rest of the semester. Failure is absolutely not fun.I hate failure although I use it as a learning experience. I always attempt to bounce back in a much better way from my previous failures. I attempt to own and master whatever I previously failed. Using my willpower I am usually able to overcome failures.

My Exit Strategy

My Exit Strategy

1. I do not have a timeline on when I want to sell my business. In an ideal world I would grow the company very quickly and have the ability to sell around eighty to eighty-five percent of it in ten years. Selling this large portion will allow me to remain involved but still give me the luxury to explore different ventures or options.
2. I do not like following a strict routine. I believe this can force life to be monotonous. This is why I have chose this specific exit strategy. Selling the business would not be easy for me as I would care tremendously for it. That is why I would only ideally sell eighty to eighty-five percent of it. 
3. I don’t think that my exit strategy has influenced my decision. My exit strategy is based on the most ideal situation. I do not think this situation is very likely therefore I would not make any decisions based on the exit strategy.  

Week 12 Reading Reflection

1) There were no big surprises for me in this reading. I thought the chapter offered a lot of useful and practical information

2) I as confused on the Bureaucratization v Decentralization paragraph. I had a difficult time understanding what the author was attempting to display in this paragraph. I did not get the full meaning of this concept.

3) I do not have any questions for this chapter, mainly because I believe the author did a superb job of backing up his terms with examples. I thought this was an extremely well written chapter other than the term I mentioned in #2.

4) Most of the terms that the author described are crucial parts of growing a business. This is relevant knowledge that an entrepreneur must know in order to be successful. I do not think the author was incorrect about any of his statements.

Venture Concept No1

Venture Concept Write-Up

The bathroom and kitchen has evolved tremendously over the past hundred years. With new technologies that include the toilet, washing machine, and microwave, people are always looking for new ways to make their life more convenient. My product offers this next great convenient appliance. I want to make the lives of Americans easier by selling the next great appliance. My product is a bathroom or kitchen sink that is automatic. This product is common in public places but I want to make it available to the everyday American. The user no longer has to put themselves at risk of germs and bacteria by touching a dirty lever. With the automatic sink you can quickly wash your hands win the most convenient way possible. This product is the future of all bathrooms as we have reached a point in our society that this idea is technologically possible and affordable for many Americans. 

What make my product different is the fact that I offer an installation package with a handyman while at the same time offering a high-tech product. My product offers variation from the normal, boring sink that people have in their homes. Not only will my sink be available in many different aesthetic designs but it will also impress any guests that you have in your home with the automatic dispensary of water. My product would offer a solution to every desire that someone would want in a home sink. It would offer a cleaner, faster, and more convenient way to wash your hands. While at the same time it would look very appealing to anyone that uses it. I would make my money off of the purchases and installation of the sinks. I will have a very drastic price range of sinks from a simple concept to a very elegant and fashionable design that fits the look of that you are aiming for in your bathroom or kitchen.

The goal of my company is to be the supplier of the next technological advancement appliance. We want to supply consumers with what will be the new norm of home bathroom and kitchen sinks. This is my vision because I believe it is a rare opportunity. There are many people out there who are willing to pay for the most convenient and high tech product on the market. There are also many people who have to replace their broken sinks and are looking for new alternative. The changes in environment that created this opportunity are the technological advances that we have made. This product is relatively new and therefore consumers need to be convinced of its worth before they feel comfortable putting it in their homes. My main focus geographically would be the United States but if I find that I am having success I would expand to Canada and other countries that I believe my product would be successful in. This is a universal product as everyone has a demand for sinks. Customers currently are using sinks that  have levers on the sides. These levers are dirty and unnecessary. My product offers an alternative to touching dirty levers. Once you wash your hands why would you want to put your hand back on a dirty lever to turn off the sink? This opportunity can be huge. Everyone uses sinks and people are constantly replacing, building, or upgrading their bathroom and kitchen sinks. This could be a very profitable opportunity. This window of opportunity may not be open for very long. I feel as if a large corporation may come up with a similar idea and put their plan into action. 

I believe customers will switch to this new product once they realize the benefits that my product has to offer. It is much better in many ways than the current product and therefore I believe customers would want to switch to the newer product. The competitors are any companies that sell sinks. I would be competing in the sink market which is very competitive. There are many very large players that if planned correctly would have a much better chance at being successful implementing my ideas than I would based on their brand name. I would start my company off with a website. From this website I would offer the consumers the product and installation and give them a specific price. I would then spend part of my funds on marketing. It is important that consumers know where to find our product. Once I begin making sales and expanding I would need to hire employees and inventory to keep up with the demand. This will allow me to progressively grow the company as I scale it to the amount of demand that I have. 

My unfair advantage is the way I can market my product. I believe that my product is undoubtedly the most convenient and easy product on the market. I would need to convince consumers to invest their money into my product using key words like convenience, cleanliness, and safest. The next opportunity that I would want to target with my venture is adding an automatic toilet as a product. This would change the dynamic of my company from a sink company to a bathroom appliance company. I believe the automatic toilet would work very well with selling an automatic sink as many people will be looking to buy both products at the same time. In five years I hope that my company will be such a hit in the United States that I will be able to make an easy decision to expand it to other countries. I hope that I have created a company that consists of many great and wonderful employees with whom I have grown close with. I hope that my company is respected and well-liked by all my consumers. I also hope that consumers genuinely enjoy my product and I am able to attain my goal of making their lives easier. I also hope that my company grows to become the most powerful player in my market. 

Week 11 Reading Reflection

1. I thought the opening paragraph was very interesting. Usually when you think of companies like Polaroid, HP, and Yahoo you think of the success that they have had. You forget that even these large and powerful companies struggle a lot of the time. You also realize how fragile a company really is and why it is important to continue and try to stay innovative. 
2. I thought the article was fairly straight-forward. Therefore I was not really confused about anything
3. I would ask the author what experience he has in the field. I would also ask what inspired him to write this article
4. I didn't find anything that I disagreed with the author about.

Amazon Whisperer

Amazon Whisperer

1. I would make money by the profit I receive from consumers buying bathroom and kitchen sinks. 
2. I believe my next product that I should offer is an automatic flushing toilet. 
3. This will add to my brand as a company that seeks to create a cleaner and more convenient  home experience. I believe once my customers see how convenient and great my sink is they would want to also buy the toilet. 
4. This product is an electronic sensor that senses when your toilet can flush. It adapts to most toilets. 
5. Customers love this product. They feel as if it helps their house have a tech feel to it. They also think the product is great and makes their life easier.
6. I would offer an automatic toilet in which you would not have to buy and install this sensor. I would also sell the sensor for people who are not looking to exchange their entire toilet. 
7. I think this product would be a good addition to my existing business because it is a compliment. If someone is remodeling their bathroom they would prefer to use the same company for their toilet and sink. It would make it easy on them if they were both purchased and installed with the same company. 

My Unfair Adventure

My Unfair Advantage 

1. My product makes everyones life cleaner and more convenient

Valuable- This is what will make by business thrive. This is the key concept of the entire business

Rare- This product may not be very rare but my entire business model makes it valuable

Inimitable- If someone wanted to attempt to copy my business they most likely could. I do not have a patent or copyright that would prevent them from doing this. 

Non-substitutable- The current product should be replaced by the higher technology, more efficient product. 

2. I consistently have a positive attitude

Valuable- This is very important in building a positive work environment.

Rare- I do not get upset very easily. I am much more level-headed than most people.

Inimitable- Someone can attempt to replicate a positive attitude but they may not be able to keep it up for very long. My attitude is very sincere therefore it comes naturally. 

Non-substitutable- a negative attitude discourages people and makes them upset and less productive. 

3. Exceptional marketing- I believe I possess qualities and connections that would create for successful marketing.

Valuable- I believe marketing is one of the main components in a business’ success. No matter how good of an idea you have, if no one knows about it you will not be successful. 

Rare- most companies market themselves, therefore this is not rare, but how you market is crucial. 

Inimitable- Not everyone has a knack or ability for marketing. I feel as if I know what people like and what attracts their attention.

Non-substitutable- A company must be able to market in some way otherwise they will not have customers and will not make any money. 

4. Would be able to receive loans- I have people around me that believe in my abilities and that would invest in my company if it is a good enough idea. 

Valuable- One must have the funds to create a business. 

Rare- Not everyone has the ability to receive the funds in order to put their ideas into action. 

Inimitable- Only some people have the ability to receive funds, whether it is through a bank loan or friends and family. 

Non-substitutable- bank loans can give out funds but it is sometimes difficult to receive these loans. 

5. I think things through before making decisions. I never rush into decisions. I always weigh both outcomes of a decision before making one. 

Valuable- You have to constantly make good decisions to improve your business.

Rare- I feel as if sometimes too many people rush into decisions. 

Inimitable- This is a trait that I have had my entire life. Although sometimes people may develop this trait after certain life experiences.

Non-substitutable- The entrepreneur can hire someone who has been in a similar position and ask what they think the best decision is. 

6. I would provide outstanding customer service. I would be able to guarantee this by only hiring people who have similar values as me. These people would truly care about the business and will understand how important the customer is. 

Valuable- This is incredible important in the success of a business. 

Rare- Most companies say that they put the customer first but I do not always see it. 

Inimitable- I believe this is common practice for companies. 

Non-substitutable- No

7. Willingness to continue learning. I believe that you can never stop learning therefore I will not get extremely discouraged and I will always have a thirst to know how I can continue to better the company. 

Valuable- I believe this is a very valuable and necessary trait. 

Rare- I think this is a very unique trait and one that many entrepreneurs have. 

Inimitable- Willingness does not come easy and it cannot be forced

Non-substitutable- No

8. I believe I have an exceptional ability to manage people. I have gained these skills through different organizations and sports teams that I have been involved with. 

Valuable- These skills are vital in building a successful business

Rare- I do not believe many people have this skill

Inimitable- It cannot be easily copied because it takes life experience to obtain these skills

Non-substitutable-No

9. My business strategy is to attack the home market first before taking on and competing against larger companies for hotels, restaurants, etc. 

Valuable- Business strategy is very valuable. You must have a plan before you begin creating a business. 

Rare- A business strategy is not rare.

Inimitable- It would be difficult to implement and replicate. 

Non-substitutable- No

10. I would not feel as if I am working because I would be doing what I enjoy. Therefore I would not mind putting in the hours necessary to make the company successful. 

Valuable- This is very important for an entrepreneur. They're chances of succeeding is greatly increased when they enjoy what they are doing. 

Rare- I believe this is a very rare quality

Inimitable- This is not something that can be replicated.

Non-substitutable- No

I believe my unfair advantage would lie in my third point. Exceptional Marketing

I believe it is more important to my venture than the other resources because it is what would separate me form other companies. If the consumer does not know about your product they will never buy it. Therefore I believe my exceptional marketing skills would be an advantage. 

Growing Your Social Capital

Stephen J. Scott Handyman Alachua County. I learned about the process of installing a sink. I also learned what the average handyman would cost for installation of a sink and faucet. This is very useful for me because it helps me gage how much my product should cost to the consumer. It also gave me a better idea of how often a handyman might be needed. He was my domain expert as I would be competing with handymen to install my own product myself. 

https://www.angieslist.com/companylist/us/fl/newberry/stephen-j-scott-handyman-gainesville-florida-reviews-6273043.htm

I was interested in the sales of this company. I wanted to see how much of their sales went to hotels or restaurants and how many went to homes. They were an important supplier in my industry. They offered a very similar product to mine. 

electronicfaucets.com

I wanted to know how their sales of non electric sinks are. It is very important to know the market that you are entering. I also want to know if they offer an installation package. Consumers want convenience and my company would be able to offer an even more convenient process with an installation package. I added an additional contact to help me understand and recognize the other suppliers in my industry. 

FaucetDirect.com

Lowe’s 

http://www.lowes.com

Lowe’s is a major supplier of sinks. They are the expert in my market. Contacting and making connections with Lowe’s would help me learn about how they supply their sinks. I would learn about the portion of online to in person sales that they make and what customers are looking for when they enter the store. 

I found that it was very difficult for me to attempt to make contact with people because of the market that I am in. The market that I would get involved with is dominated by large market players that consists of Home Depot, Lowe’s, and Sears. It is very difficult to make a connection with someone who has the knowledge and information that I am specifically looking for. If I were to enter this market I would be competing with these very popular and well known companies. I would also be competing against other companies like Electronic Faucets and Faucet Direct. These companies to a large portion of online sales. After doing this research it has made me realize how competitive and difficult this market is. 

This experience made me realize how dominating large companies like Lowe’s, Home Depot, and Sears are. It made me understand why there are not many other players in that market. It would be very difficult to create just a sink business as these big corporations have businesses where sinks are just a small portion of their product. This makes it difficult to network as it is very difficult to reach someone who is an expert in one particular field of their large businesses. 

Week 10 Reading Reflection

1) This chapter was not much of a surprise. I did think, however, that this chapter was very informative. This chapter had a lot of useful information that is very practical.

2) I was confused on what a note payable was. The definition in the book was not very clear to me.

3) I would ask why the author decided to organize this chapter in this format. I think that the chapter could have been split into a part one and part two.

4) Much of this information was new to me. Therefore I do not have enough knowledge to disagree with the author on any of his statements.

Elevator Pitch No.3

All of my feedback was very positive.
The one suggestion that I received was that I should add more hand gestures. I attempted to add some hand motions and gestures to my pitch this go around.

My Secret Sauce

Five ways in which I think I have human capital that is truly unique.

1. I have a very solid work ethic
2. I have an exceptional ability to motivate others while also being very approachable at the same time
3. I am very cooperative
4. I hold great leadership skills including the ability to lead by example
5. I am an extremely honest person

According to my feedback I am a very approachable person. I am a good listener. I have very exceptional people skills. I am also a good leader who is able to show this by leading by example.

I believe I see myself very similar to the way that other people see me. I believe the adjectives that I described myself as were very close to the ones that others used to describe me. 

Week 9 Reading Reflection

1) I was surprised when the book read "many entrepreneurs know very little about their market, and some even attempt to launch new ventures without identifying any market." It seems crazy to me that someone would take on the risk of starting a business without even considering what sort of people would buy their product.  I feel as if this happens much less than the book made it out to appear.

2) I was confused on the paragraph about Quantitative and Qualitative Marketing Research. I did not quite understand the definitions that the book gave. I would also need some examples for me to understand what these terms truly mean.

3) I would ask the author if he could expand on his paragraph about Quantitative and Qualitative Marketing Research? I would also ask what the author meant when he was describing Product Life Cycle Pricing. I was left unsure what that was after I finished that paragraph.

4) I do not think that the author was wrong about anything in this chapter. This chapter did a good job of informing me on all the marketing challenges for entrepreneurs.

Idea Napkin No.2

1. I like to think that I am someone who thinks entrepreneurially. I am someone who enjoys watching things grow from small to large. I am a very honest and hard-working person who has good intentions in everything that I do. One of my favorite things to do in my free time is to watch shark tank. I believe I am good at communicating and implementing concepts. I think I am a good leader and motivator. One day I do hope to start my own company. I see this business as being an extension of me as a person. I would pour my heart and soul into the business because it is a part of who I am. I would enjoy the process even through the ups and the downs because thats what I enjoy doing. 
2. I am offering a product that makes one’s life more convenient. My idea is to create an affordable motion sensitive sink that can be a staple in the average American’s home. This sink makes your experience efficient and even cleaner in the fact that it can prevent sickness. The less dirty objects or levers that you touch the less chance you have of contracting germs and becoming sick.
3. I am offering it to the general public. I want to offer this product to the everyday Americans home at an affordable price. Once I am large enough there is no reason not to become a major player in the restaurant and hotel industry as well. 
4. I believe customers would care because people are always trying to be more efficient. Anything that saves time as well as preserves their health is something that they will want to invest their money into. 
5. I have experts that can install the sink at an extremely low price. I also have manufacturers that allow me to create the product at a price that is very low. With the low prices I can have a decent margins on return with my price. This lower price will allow me to make a profit by selling to more Americans across the nation. Once my business is established in America we can progress to other developed countries in order to expand the business.

This is a business that has potential to grow and be a staple. There will always be a demand for sinks as people need the water supply. With this demand we offer the most convenient product available. Not only is it convenient but it can also give your bathroom the aesthetic look that you have been searching for. I believe that these elements fit very well together. The aspect of my business concept that is weaker is that I do not yet know how I would market the product. Their are many different ways to market and I would have to do more research to figure out how I would want to attack my marketing campaign.

Feedback

1. Convenience is really important when a person is deciding whether or not to buy a product.

2. People are concerned about their health

3. There may be competitors with a similar idea

4. I could distinguish my product from others by adding a self cleaner to the sink.

5. The demand for sinks will never disappear.

The Twenty Percent

1) I talked to a business owner who owns some Five Guys restaurants in the Tampa area. He declined to be video interviewed. He described his customers jokingly as anyone who consumes meat. He believes that his restaurant targets a very wide variety of people, unlike many businesses. He said that the fast food business is slightly different than other businesses in that they have the ability to target a much larger base of people. The customer’s problem is hunger and desire to feel satisfied. He believes that his product has the ability to fix their hunger issue as well as leave his customer more satisfied than its competitors. He also emphasized the ability to create a quality burger in a short period of time. When people walk into a Five Guys they expect to be served quickly. The customers problem is most likely at a 5 when rated on a scale of 1-10. Food is a necessity but there are many options on where to eat. The product is priced relatively high which makes it a luxury fast food item. Sometimes people may be willing to spend more money to buy this higher priced fast-food item than other times. 

2) Customers agreed with the views of the business owner that I spoke to. Most people that I talked to said they enjoy the food that Five Guys produces. They agreed that Five Guys should create a quality burger in a short period of time. Some people expanded on the cleanliness and overall experience. The entrepreneur did not mention much about the sit down experience of Five Guys.

3) 3) I believe that the entrepreneur adequately understands the customer. He understands that people will not make the decision to eat his product every single day of the week but he does believe that it can be a very popular and regular meal option for his customers. He wanted to satisfy the needs and hunger of his customers and I believe his business does a very good job of doing that. One thing that I think the entrepreneur should focus on is how he can better improve the sit down experience of the customer. The peanuts are a good idea but I believe the restaurant can add an element of serving its customers. I have always had to go pick up the food when it is ready. I believe it could enhance the experience if the food was delivered to me once it was finished. 

Week 8 Reading Reflection

1) I was not surprised during this chapter reading. I found all of this information extremely interesting and useful. I was able to learn some valuable information that I did not previously know from this chapter reading.

2) Nothing in this chapter was very confusing to me. I already understood the basics of what this chapter was all about.

3) I would ask where the author came up with the numbers under the Informal Risk: Capital Angel Financing paragraph. I am not sure this statistic applies very well because everyone of those people chooses what they want to do with their money based on their personal lives. Not everyone may be willing to make these certain types of investments. I did not have any other questions for the author.

4) I just think that the claim I made in number three applies to this question as well. These statistics show that there are a lot of opportunities to be made with these angel investors but it does not necessarily mean that every person with that sort of capital is interested in investing in these unproven companies.

Half-Way Reflection

1) I have used the skills of time management to keep up with this class. There is a lot of work to be done and you must set aside time to do this work. It takes a tenacious attitude to continue to do the assignments to your best capacity.

2) I don't like to give up on anything. If I commit to something that I fully dive into and do my best at whatever activity that is. If I become passionate about something then that something will receive everything I can give for it. A time that I considered giving up was after I tore my hamstring in the middle of my junior year. I then attempted to come back and play too soon which lead to me reaggravate the injury. I thought about giving up at this point. I then thought about the commitment I made to my team and I knew that I would have to rehab so I could play to my best ability my Senior year.

3) Three tips I would give to new students
     1. Time manage all of your classes and set aside time to do your assignments for this specific class.
     2. Do not wait to the last minute to do assignments. I usually try to get all of my assignments done the day before it is due or even earlier.
     3. Do not be shy when attempting to do some of these projects. I have gained confidence through some of the assignments that I have had to do that had us interact with random strangers.

Free Money

I decided to stand near a vending machine and ask people if they wanted a dollar. I thought this would be an effective strategy because the people at the vending machine want to purchase these items already and having the money to buy the items makes it convenient for them.
I found it difficult to give away these dollars for a few reasons. The first one that I forgot to take into account was that many people were paying with their credit cards. Giving them cash actually became an inconvenience because they had already decided to use a credit card. It was also difficult because the items cost more than just one dollar. Giving someone a dollar meant they still had to spend money to buy an item.

Week 7 Reading Reflection

1) I was surprised at the marketing strategy that producers use to attempt to convince consumers that their product is right for them. They do this by placing a person who they resembled or wished they resembled in the advertisement.

2) I was not exactly confused at any point during this reading. I thought that the authors offered very valid and useful information and examples.

3) I would ask why the authors decided to use the examples that they did? I would also ask if any of their opinions have changed or if they would add anything to the article ten years later?

4) Much of this information was new to me therefore I do not think that the author was wrong about anything.

Elevator Pitch No2

Thank you to everyone that offered feedback from my first elevator pitch. The feedback that I received was positive and encouraging. This increased my confidence and allowed me to perform well on this elevator pitch as well. 

Since all my responses were positive I did not have any feedback that recommended that I change anything. 

Interviewing Customers No3

1) I am switching up the people that I am interviewing. Previously I was interviewing adults and children of the Tampa area. I will now be interviewing college students in Gainesville to see their perspective. I expect for my results to be slightly different than my previous interviews.

MOSI does not attract college students as much as it does children. I do not believe MOSI would market themselves to college students as they understand that a majority of their business will come from younger children. I expected less people to say that they would visit the museum if it changed locations because some college students do not have as much of an interest in what MOSI offers. If I were to interview students who are majoring in something science related I believe I would have different answers if I were to just interview business majors.

Week 6 Reading Reflection

1.  I didn't find the anything in the article that was specifically surprising but rather I found it interesting. I found the author's views on strategy a a whole very interesting and noteworthy.

2. I was confused on the shifting threat of new entry. I was not able to fully understand how one should make decisions to counteract this threat.

3. I would ask why the author didn't expand on the shifting threat of new entry. I would also ask why he didn't offer more example of the ideas that he was describing.

4. I don't think the author was wrong about anything. I'm sure some people have different strategies or approaches to specific instances but I do not believe that the author was incorrect in his statements.

Idea Napkin No.1

1. I like to think that I am someone who thinks entrepreneurially. I am someone who enjoys watching things grow from small to large. I am a very honest and hard-working person who has good intentions in everything that I do. One of my favorite things to do in my free time is to watch shark tank. I believe I am good at communicating and implementing concepts. I think I am a good leader and motivator. One day I do hope to start my own company. I see this business as being an extension of me as a person. I would pour my heart and soul into the business because it is a part of who I am. I would enjoy the process even through the ups and the downs because thats what I enjoy doing. 
2. I am offering a product that makes one’s life more convenient. My idea is to create an affordable motion sensitive sink that can be a staple in the average American’s home. This sink makes your experience efficient and even cleaner in the fact that it can prevent sickness. The less dirty objects you touch the less chance you have of becoming sick. 
3. I am offering it to the general public. I want to offer this product to the everyday Americans home at an affordable price. Once I am large enough there is no reason not to become a major player in the restaurant and hotel industry as well. 
4. I believe customers would care because people are always trying to be more efficient. Anything that saves time as well as preserves their health is something that they will want to invest their money into. 
5. I have experts that can install the sink at an extremely low price. I also have manufacturers that allow me to create the product at a price that is very low. With the low prices I can have a decent margins on return with my price. This lower price will allow me to make a profit by selling to more Americans across the nation. Once my business is established in America we can progress to other developed countries.

This is a business that has potential to grow and be a staple. There will always be a demand for sinks as people need the water supply. With this demand we offer the most convenient product available. Not only is it convenient but it can also give your bathroom the aesthetic look that you have been searching for. I believe that these elements fit very well together. The aspect of my business concept that is weaker is that I do not yet know how I would market the product. Their are many different ways to market and I would have to do more research to figure out how I would want to attack my marketing campaign.

Week 5 Reading Reflection

1. The biggest surprise for me was the cost and time it takes to receive a patent. I was not expecting a patent to cost such a large amount of money while at the same time taking a very long time to process. I had often heard the term patent pending but I did not realize the extent for which it takes for a patent to pass. 
2. I am still confused on what exactly an S corporation is and how the corporation is different from other corporations
3. I would ask approximately how new are L3C corporations? I would also ask what allows for a company to get an Adjustment for Debts instead of filing for bankruptcy?
4. Most of this information is information that I am seeing for the first time. Because of this I do not have enough prior knowledge to counter that the author was wrong about a certain statement. 

Elevator Pitch No1

I want to bring a motion sensitive sink to the common American home. It is an easy device that allows for one to have a cleaner and more convenient experience. No one wants to touch the dirty lever more times than they have to and with EasySink this problem can be eradicated. The sinks also come with a sleek, aesthetic look to give your bathroom the elegant look that you want. 

Interviewing Customers No2

My opportunity idea has changed since the first video as I have switched my focus on the idea and effectiveness of MOSI to how changing locations can help the museum. I targeted a younger audience in some of my interviews as MOSI usually attracts younger attendees. My questions help get a sense of how the change in location would influence the consumers willingness and urge to visit the museum. Overall it was easy to see that everyone believes it would be beneficial for MOSI to move its location to downtown Tampa. This move would create more traffic for a museum that is currently struggling to attract attendees. I learned that people do not like to waste time driving to a venue and would rather save time by traveling a shorter distance. Convenience is key when attempting to attract consumers in general, but is specifically important in this scenario. My advice is to not feel awkward about giving these interviews because people really enjoy doing them. Make sure  your volume is loud enough when interviewing as it sometimes does not come out as loud as you expect. Also think of questions that will force your customer to elaborate on their answer.

Week 4 Reading Reflection

1) I was surprised that this chapter dove into the right brain and left brain analysis. I remember learning about this in my psychology class and I did not expect to read about it in my Entrepreneurship textbook.

2) I was confused by the different arenas of creativity. It broke down how some people are more creative in different areas. I believe this is just because people have different experiences in different situations.

3) I would ask the author what he thought of/ what specific functions he imagined when he did the first creative exercise.

I would also ask what he thinks is the reason that certain societal trends to catch on.

4) I did not think that the author was incorrect about anything in this chapter. I believe some information could have been left out although I do not disagree with the written information.

Top 5 World Problems

1. Hunger in lesser developed countries

We could spend less money on warfare and military equipment and invest into the food industries. With the increase in food that is produced we can have the military buy some of the leftover foods and ship it to lesser developed countries. 

2. Education in lesser developed countries

We could also spend less money on warfare and military equipment and invest in building schools in lesser developed countries. We need to educate people in these lesser developed countries. Once they are educated they should be able to support each other and we no longer have to support them. They will then join the market and buy our exports as we have good relations with these countries. 

3. Nuclear powers

We must create a world treaty or pact that states none of us will ever use our nuclear powers. It is too dangerous to risk the lives of people around the world. Radiation is obviously extremely dangerous and will ruin the pieces of land that we drop the bomb on. 

4. Spreading of diseases with increased travel.

We must increase security as well as spend more money on medical research to prevent diseases. Diseases are unfortunate and are sometimes unpredictable.

5. World population is not equal to resources available

The best way to prevent this is to increase resources. We must increase the amount of farms to increase the amount of food resources and we must find alternatives to resources that can’t be grown or farmed.

I selected hunger in lesser developed countries as the first problem because these are people that have the potential to do great things if they were given the opportunity. From my perspective seeing the abundance of grocery markets where I have grown up makes it hard to imagine having a lack of food to eat. I believe we must first feed these people and then educate them in order for them to become self-sufficient. Once they are self-sufficient they will begin to contribute more into our world economy and become trade partners with us. I believe the government can afford to spend less money on military tactics and supplies and more on feeding and creating educational institutes in lesser developed countries. 

Identifying Local Opportunities

All articles are from the Tampa Bay Times

Lyft Like Uber, Slashes Rates, Upsetting Area Drivers

http://infoweb.newsbank.com/resources/doc/nb/news/15A7FF2E93337F30?p=AWNB 

By Caitlin Johnston

Employees for Lyft and Uber are upset as competition has forced these companies to lower the wages that their employees make. These lower wages are making the drivers question if these rates are even worth the wear and tear on their vehicles. The problem is that the workers are unhappy and also many people will no longer be joining the industry. The workers have the problem although consumers have an advantage as it is now cheaper to get from place to place due to the lowered cost and increase in number of drivers. 

Downtown MOSI Adds Up

http://infoweb.newsbank.com/resources/doc/nb/news/15A755D1C54A6E60?p=AWNB

By Daniel Ruth

MOSI is the largest museum in the Southeast as it covers about 400,000 square feet of land. It is Tampa’s Museum of Science and Industry. The problem with MOSI is that it has been struggling recently. This issue may be due to mismanagement or location. The article offers all the pros of a move for this museum to a more centralized location in Downtown Tampa rather than out in the suburbs next to the University of South Florida. This should fix the problems that the museum has been experiencing in the last few years and actually help increase revenue of the museum as a whole. 

Tampa Software Company to Expand, Add Jobs

http://infoweb.newsbank.com/resources/doc/nb/news/15A604B2E507FEE8?p=AWNB 

By Times Staff

Software firm Subview Software said Wednesday that it will add up to 45 jobs and invest more than $1 million to add 6,000 square feet to its headquarters. The company has the problem as they feel the need to expand in order to keep their business growing. In order to fix the problem of their companies growth and to maximize profits they feel that it is best to add a large number of workers as well as office space. By doing this the company feels as if they will be more productive

Publix to Join USF Tampa Campus

http://infoweb.newsbank.com/resources/doc/nb/news/15A8A9EB22F3CCB8?p=AWNB 

By Thad Moore

It has recently been approved that a Publix is to be built on the northern edge of the University of South Florida campus. This will be the first supermarket to be built on a college campus in Florida. The issue here is why this has not been done at other schools like here at the University of Florida or in Tallahassee at Florida State University. The people that have this issue are the students at USF who assessed that they do not have a grocery store that is easily accessible. There problem will be fixed when this new supermarket is built. 

http://infoweb.newsbank.com/resources/doc/nb/news/15A8D0EEF1255450?p=AWNB 

Home sales strong in 2015 by Susan Taylor Martin

My last article is about the issues that Tampa and frankly many parts of the U.S. had during the housing crash. The article states that home sales were strong in the Tampa area in 2015. Specifically there was a 39% increase of single-family homes sold in 2015 compared to 2012. This is better for people who are involved in real-estate as homes will begin to sell more frequently and the market will become more stable than it recently was.