30A – Final Reflection

Goodbye ENT 3003,

Looking back through my assignments and experiences, I thought, "Damn it. I probably could have done better for a couple assignments." I thought that because there were a couple of assignments I didn't do like the first elevator pitch because 1) I was dreading it, 2) I hate being in front of the camera, and 3) I was extremely lazy that week and had no desire to do anything. This semester I had a lot of ups and downs, which is life in general, and I could see it through my work. Others might not be able to, but I know myself and I can tell. I don't think it's a bad thing to be honest. However, I did enjoy some of these assignments.

The most formative experience would probably be the bugs list. I didn't think that would have a big impact on me, but it really made me look at my daily life and find issues that could be fixed. In a weird way, it made me sort of optimistic because my goal of the assignment later on was to figure out what could be done or why the problem exists and if there could be change. Now when I see a problem, I think of ways it could be fixed.

My most joyous experience would be reading other's blog posts, especially reading about their entrepreneurship story. Reading people's inspiration or why they are interested in this class was enjoyable because I like stories of why people are doing what they are doing. You can always see a spark of passion in it. I loved reading about people's beginnings, ideas and ventures that could solve simple problems that people rarely notice or solve big problems that can change the world!

The experience that I am most proud of myself for accomplishing was the elevator pitch. It came in handy because I recently had to do an interview where I record myself when given a question. It prepared me for that and gave me confidence that I didn't know I could have.

Looking back at my mindset and comparing it to now, I would say I developed the entrepreneurial mindset. I am not sure if I see myself as an entrepreneur quite yet, but I say given time I would be! I have moved closer to becoming one. I think the first thing I would need to do would be to sell a product. I think everyone does have an entrepreneur side to them though.

I recommend students doing the assignments as soon as possible that way you have a free Friday/weekend and you don't have to stress too much. The assignments are pretty easy and fun! But if you make this class stressful, which it really isn't, then you won't learn or enjoy anything. Students should keep an open mind during this course and really enjoy it and try because it is an experience that you will learn from if you give it your all. To foster that mindset, I say really try as if you are going to get up the next day and start a big business because it might actually happen.

29A – Venture Concept No. 2

OpportunityA prominent issue in today's society is texting and driving. Now smartphones are becoming more distracting with all of the available social media, notification and apps. Many car accidents happen because someone was using their mobile phone. It can cause death as well if someone is not paying attention to the road and their surroundings. The forces that create this issue are smartphones. Smartphones are becoming more and more appealing because of of these cool updates, while people believe they can multitask when driving. The market is defined demographically. The ages range is 16-35 years old, people who have a smartphone and use it all the time, male and female. Customers are satisfying their need by turning the notifications off, putting the phone away or having someone else text or use the phone instead of them. People continue to text at stop lights, text in traffic, text while driving, change music and/or use it for maps. I've interviewed possible customers and they do not always use their solution. This opportunity is big because not many agree with Apple's new disable notifications while driving feature. I know people who have turned it off because they did not like it. I think this window of opportunity will be open until a person creates a solution people will actually enjoy. I haven't seen an effective app or feature that reduces texting and driving.


InnovationThis is an app for smartphones that will reduce phone usage while driving because it gives incentives to the user. The user has access to change music without changing the screen, receives points for not using their phone, a map for navigating and the ability to notify people when you are near/arrive at the destination. The longer the person does not use their phone or change screens, the more points a person gets. Points increase the longer the user stays off the phone. The incentives/rewards are free Starbucks, Duncan Donuts, Chipotle, et cetera. If not free, than discounts and coupons that people (16-35 y/o) enjoy. For example, 200 points would be one free Starbucks drink. Businesses that I partner get advertisement because customers would see the products available and obtain more business. The app costs 99 cents. This would make sure there were no advertisements to distract the driver. The only time an advertisement would show up would be when the customer is using their points to choose the reward.

Venture ConceptCustomers would switch to this product because it is cheap, they pay once and they gain rewards that are more than 99 cents. It would difficult to switch because no one wants to pay for something they are not sure they'll 100% love.To solve this, I offer a free trial for a week. The competitor is Apple's in app feature that has a do not disturb while driving. However, this can be turned off by users. There aren't many popular alternatives or competitors. Packaging, distribution and business location do not play a role in defining my business concept. However, customer support and experience play a big role because if a customer is having an issue, it needs to be fixed immediately. It is an app. If an app has bugs, people will not use it. This would not require a large employee base because it is an app. I would need a person to design/create the app, a coupe customer support employees and people to promote the app on college campuses, where I believe in the beginning is where I would gain most customers.

Important ResourceThe most important resource is my connection to the target customer: 19-24 year olds. Once I perfect my app, I can have my friends do a test run before I charge people. As they test it they can give me information on what they would change, add and fix until it is perfect to sell in the smartphone app store. Not many competitors would have access to their specific customers and be able to get feedback. Networking one of the greatest assets. 

Next Opportunity
The next (ad)venture for me would be working on my photography portfolio and gain business there as a side job/hobby.


Next Five Years
In the next five years, I would like to work for an in-house pr agency. I want to try a large non-profit and a popular company to see different sides of the industry. I love people and interacting with people. I like to expand brands and make changes for the better. This first venture helped serve a good cause: keeping people off their phone and focused on the road ahead.

Feedback & Change 
In the feedback for my first venture concept, it was all positive and many people liked the fact that I offer a free trial for the app. Many saw the passion I have for the app, but I do not think I would keep this until my dying days, but I would stick with it for a while. Also, people I have talked to discussed that the length of the free trial should be longer or it should be free until the user earns enough points to gain a reward. I liked that idea. However, when I talked about it with a few possible customers, they didn't enjoy it because they hate when apps do that and they are not warned. However, when I suggested that I say the app is free until the earn the first reward then they pay the 99 cents for the entire app. I had to put it in perspective and the possible customers liked the idea more. There are still small kinks to work out like the free trial situation and then being able to gain partners to be the rewards for the app, but many people like the idea. With the feedback I have received,I am changing the trial time (a person must purchase to receive their first reward), I will make it clear in the app how the trial time works, and continue to ask the customers what they want and need for this app. 

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28A – Your Exit Strategy

I think for my exit strategy for my product I would sell my most of business after 5 years of success. I would like to earn as much money as possible from it and then retire from that venture happily. I do not see a need to pass it down to my children nor stay with it except to keep a small portion to continue to earn money. I would like to continue with other future ventures.

I choose this exit strategy because although I believe using the phone while driving is extremely dangerous and needs to be solved, it is not one of my biggest passions. I would want to take a different route. I do find it important, but it is not something that I will love to continue for the rest of my life or until retirement.

I think this exit strategy didn't affect my concept because it is a very simple concept with a simple exit strategy. I do not see it going farther than what it already is, but I can't think of anything else it could expand into like most driving/map apps. The exit strategy influenced my growth intentions because I choose not to continue with it after 5 years. It doesn't affect how I plan to acquire and use resources. The main issue I would need to work on is selling my product to another company or buyer.

27A – Reading Reflection No. 3

1) What surprised me the most was his background. I never knew that he was adopted and that he went through so much as a child and young adult. I admired how he kept thinking forward and though of the new best thing. I didn't admire how he became so focused on the money and the management of human resources. One of his most influential failures I believe was when he dropped out of college. Dropping out of college can be seen as a failure, but I believe this led him down the right path. He continued to learned and pursued his passion.

2) I noticed Steve Jobs never gave up. He kept trying and learned new things along the way.

3) The book was really straight forward. There wasn't much confusion, but maybe why Steve Jobs decided to worked with Sculley. I think he could have worked it out by himself.

4) If I was able to ask him two questions I would ask 1. Who did you aspire to be when you were young? I would want to know his role model because he is such a big inspiration for many, I would like to know who his inspiration was. 2. What is the best choice you made when developing Apple? I would ask this because I want to know the deciding factors for founding this company.

5) I think his opinion of hard work would to be continue despite how hard it can get. I think this because in the end all of the hard work is worth it and pays off. I think he would say people would gain more with the more work they put in.

26A – Celebrating Failure

This past semester I took too much on my plate and I had to give up on an organization, which I see as failing. To give up something without following through, I see as failure because it wasn't finished. I have been with his organization for for two years and I helped it become a student organization on campus. I am involved in a lot of organizations, and sadly this was my lowest priority. I became overwhelmed with school work and the other organizations that I was a part of and it being my last year of school I had to give up something. I couldn't balance everything, I rarely had time for studying and myself as well. I was extremely disappointed, but it helped me succeed in other areas that I needed to focus on like my school work.

I learned that I needed to prioritize and organize better. I could manage my time well, but it stretched me too thin to where I was too stressed. Balance is key to life and extremely important. I still help out when I can, but I am not as involved as I used to be. I took better care of myself and became more organized again. I plan on going back next semester when I will be taking less credits, but this semester has been hectic with so much going on during fall.

Failure is hard to deal with because it really makes us feel bad especially if we have tried our hardest to succeed. When I fail, it takes me a bit to realize what I need to learn from it and that it is a learning opportunity. I never enjoy failing like most people, but I tend to beat myself up over failing. I look back and I think, "Everyone fails, this is how you learn." In the moment, I hate myself, which I really need to work on. After a failure, I will usually take a break and do something I enjoy in order to pick up my spirits. This class has changed my perspective on failure because it reminded me how important it is to fail in order to succeed. This class changed my perspective for the better. I am more likely to take risks, but I still prefer to do research for certain things if I am to take risks.

24A – Venture Concept No. 1

Opportunity

Using the phone while driving has become a major issue in the past. Especially now because smartphones become more and more distracting with all of the available social media, notification and apps. A large amount of car accidents occur because someone was using their mobile phone. Not only can using your phone while driving cause car accidents, but it can cause death as well if someone is not paying attention to the road and their surroundings. The forces that create this issue are the smartphones themselves. With continuous updates, the phones become more and more appealing as well as people believe they are capable of multitasking while driving. The market is defined demographically. The ages range from 16-35 years old, people who use a smartphone on a regular basis, male and female. Customers are currently satisfying their need by turning their notifications off on their phone, putting the phone away or having a passenger text/use their phone for them. I know some people continue to text at stop lights, text in traffic, text while driving, change music or use it for maps. Many of the customers are not loyal to their solution because people will continue to use their phone while driving. This opportunity is relatively big because not many agree with Apple's new disable notifications while driving feature. I know people have turned it off because they did not like it because it would turn on even when they were not driving. I think this window of opportunity will be open until someone, possibly me, comes up with a solution to solve this issue. I have yet to see an effective app or phone feature that drastically reduces texting and driving.

Innovation
My app for smartphones will help reduce using the phone and driving by giving incentives to its user. The way this works is in the app, the user has access to change music without changing the screen, receives points for not using their phone, a map for navigating and the ability to notify people when you are near/arrive at the destination. The way the points work are as follows: the longer the person does not mess with their phone or change screens, the more points a person gets. The points increase the longer someone does not use the phone. The incentives/rewards are free Starbucks, Duncan Donuts, Chipotle, et cetera. If not free, than discounts and coupons to popular establishments that people ages from 16-35 enjoy. For example, 200 points would be one free Starbucks drink. The business that I partner with would get advertisement because customers would see the products available and obtain more business. The app would be 99 cents. This would make sure there were no advertisements to distract the driver. The only time an advertisement would show up would be when the customer is using their points to choose the reward.

Venture Concept
I think customers would switch to this product because it is cheap, they pay only once and they gain rewards that are worth more than 99 cents. It can be difficult to switch because no one wants to pay for something they are not sure they'll 100% love. That could be the issue. To solve this, I could do a free trial for a week. The competitor is Apple's in app feature that has a do not disturb while driving. However, this can be turned off by users and not used. Other than that, there aren't many popular ones. Packaging, distribution and business location do not play a role in defining my business concept. However, customer support and experience play a big role because if a customer is having an issue, it needs to be fixed immediately. It is an app. If an app has bugs, people will not use it. Because this is an app, it would not require a large employee base. I would need a person to design/create the app, a coupe customer support employees and people to promote the app on college campuses, where I believe in the beginning is where I would gain most customers.

Important Resource

I think the most important resource I have is that I am friends with the target customer. If I perfect my app, I can have my friends test it out before I make people pay for it. While they test it out, they can report to me what they would change, add and fix until I make it perfect and sell in the smartphone app store. Not many competitors would have access to their specific customers and be able to get feedback. Networking one of the greatest assets. 

Next Opportunity

The next adventure for me would be working on my photography portfolio and gain business there as a side job/hobby.

Next Five Years
For the next five years, I'd love to be working with an in-house public relations agency. I would prefer it to be with a large non-profit or help plan events as well. Being a huge people person, I love interacting with people and satisfying their needs whether its to help build their brand, expand their brand or plan an event to raise money for non-profits that need it. This first venture helps serve a good cause: to keep people off their phones and focus on the road.

23A – Your Venture’s Unfair Advantage

List of Resources in My Venture:

1. Personable
• Valuable: Not many people can be personable, relatable, easy going or likable. It is a personality trait that I think a person grows into and can't be developed at an older age. 
• Rare: Many people can be likable, but I have had multiple friends, family members, employers and strangers say I am personable and it will help get me far in networking. I know I have some friends and family members that do not get a long with anyone.
• Inimitable: It is hard to copy by others because it is based on personality. A person cannot copy another's personality or he/she is not genuine. Being personable is a genuine trait that not many people have. 
• Non-substitutable: There are other resources that can provide the same benefits. These benefits are relationships and network building/strengthening. However, I do not think it can provide as strong of a bond as being personable. 
2. Different Points of View
• Valuable:I think with my experiences of studying abroad, living in different states, going to school out of state, experiencing boarding school and much more, I have gained experiences that some people have not. This allows me to see different points of views.
• Rare: A person needs to gain experiences in order to obtain different points of views and have an open mind. A person cannot experience everything in a span of a week to understand something else.
• Inimitable: It is hard to copy because again, no one can have the same experiences as me. Therefore everyone thinks differently and will have different thought process than me or anyone for that matter. 
• Non-substitutable: There are no other resources that provide the same benefits. Every person will have different experiences that will lead them to have different points of views, but a person needs to gain those experience first and no experience is the same.
3. Communication Skills
• Valuable: This is valuable because communicating clearly is key to getting what you need to get exactly what you want and to convey your ideas. I have taken public speaking classes, I was in debate in high school and being a part of many organization on campus I must communicate my thoughts, ideas and assignments clearly to have good communication. 
• Rare: This is somewhat rare because more people my age are communicating with technology. I noticed some people are not good or are nervous to speak in front of audiences or with people when presenting their ideas or opinions. However, it is easy to learn communication skills
• Inimitable: This is something you have to practice, so it is hard to copy that confidence someone has for speaking. 
• Non-substitutable: There are no other resources that can provide the same benefits of great communication skills. 
4. Access to My Target Audience
• Valuable: This is valuable because having access to my audience's opinion, thoughts and ideas will allow me to go far in my venture's idea.
• Rare: This is somewhat rare because depending on a person's target audience, they may have access to their target audience's opinions. 
• Inimitable: This is not inimitable. No one can get the same opinions, ideas and thoughts for my target audience because each will have their own opinion. 
• Non-substitutable: This cannot be non-substitutable because of the wide variety it offers. 
5. None to Minimal Competitors
• Valuable: It is extremely valuable that I have little to no competitors. Many entrepreneurs have a lot of issues getting their foot in the door because of competitors. 
• Rare: This is rare because I only have a few competitors and even those ideas are not the exact same as mine. 
• Inimitable: Someone can copy this idea easily and get patents before me, if I were to get patents. 
• Non-substitutable: I could come up with another idea that would have the same benefits. It would be difficult to come up with a new idea.
6. Big Issue
• Valuable: This is one of the big issues people are facing around the United States, which means it holds a large value especially among families who worry about each other texting and driving.
• Rare: There are many big topic issues in the US that people can create ideas and solutions to help solve them. However, some are too big to conquer and I believe this is a big issue that can be resolved even a little. 
• Inimitable:
• Non-substitutable:
7. Connections
• Valuable: I believe this is valuable because I have connections to people who create apps.
• Rare: This is rare because I know I have a good resource that many people do not have if they were to create apps.
• Inimitable: It is not hard for others to copy because people can hire someone to create their app. 
• Non-substitutable: I do not believe any thing else could create the same benefits because there is only one way to create an app and that is through coding and programming. 
8. Networking
• Valuable: I think this is extremely valuable because if a person cannot get their product out then it can be pointless.
• Rare: It is rare because I can network with my target audience, which is my friends and family members plus neighbors who support me.
• Inimitable: This can be copied if someone has the same target audience as me, but a person would not be able to use the same people as me because they do not have a relationship with the target audience.
• Non-substitutable: There are no resources that can provide the same benefits. 
9. Business/Entrepreneurship contacts
• Valuable: This is extremely valuable because my father and uncles have extensive knowledge with starting, running and maintaining a business. 
• Rare: This is rare because not many people can have access and support from someone to help kick start a business.
• Inimitable: It is hard to copy and have someone who has knowledge of the business world and entrepreneurship world, but it is possible. 
• Non-substitutable: An advisor would be able to provide the same benefits, but with a cost.
10. Fundraising skills
• Valuable: It is very valuable to have fundraising skills in order to make money to fund the beginning of my business.
• Rare: It is somewhat rare because many people have the knowledge and skills to fundraise. 
• Inimitable: It can be easy to copy, but I believe personality has a big part to do with fundraising as well. 
• Non-substitutable: Only one other can provide benefits and that is taking out a loan. However, you would have to pay that price back in the end. 

Top Resource:
After thinking long and hard about what would be the best benefit as my top resource, I couldn't help but choose two. I believe being personable and communication are the top resources because both go hand in hand. It is the most important in my venture than all other resources because it is what I rely on the most in my daily life. I have gotten what I needed by being personable and communicating clearly what I need and why and how it can benefit others or if a person is helping me how it can benefit them in the end.

22A – Elevator Pitch No. 3

Reflection & Change:
What stood out was adding a price to my pitch, so I did add that to the newest pitch. My customers need to know a price and what they are getting for it. I made sure to add what everything is included on the app and what  you can get out of it. All of the feedback I was giving was very incite full and helpful. I didn't think any feed back was silly or wrong. I changed up the pitch a little bit, so it didn't feel as memorized as the second pitch did. I made sure to be just as enthusiastic if not more in this video. I became more comfortable in front of the camera, but I was sick when I made this video. My confidence was a bit low because of it, but I tried not to let my sickness get in the way.

20A – Growing Your Social Capital

Industry Expert:
1) Robert T. (didn't want las, majored in computer sciences and works for Ernst and Young as security consultant.
2) He fills this spot because he is a "technical expert" for apps. In college he would make simple apps and learned coding.
3) I found him through a friend of a friend a while ago, but never spoke to him again. Then I remembered him for this assignment, so I asked my friend for his information that way I could talk to him.
4) He explained how to make an app and how much work can go into it. It was a gibberish at first, but then he explained it more.
5) If I every have any questions regarding apps, he would be able to help me out or point me in the direction I should go in order to make the best app possible.

Market Expert: 
1) Simon Mui; a UF senior who drives to school and work, he also drives home to Orlando a lot.
2) I couldn't find anyone who was an expert for the market and selling a similar product like me, so I chose someone who fit my target market: a young adult driver who uses their phone while driving.
3) He is a friend of my friend. I met him when I was studying at the library and he joined my friend and I at the table.
4) I asked questions about what he thinks about the app, and if there are any improvements that need to be made. He said it sounded pretty good, but that there needed to be more options for rewards.
5) Having someone who needs the app a lot because he is a frequent long distance driver will allow me to see a different perspective because everyone gets distracted with different things on their phone.

Supplier:  This would be someone who is selling products and services to other organizations/firms in your industry. 
1) Allyssa M., met her because she was promoting an app Leaseful on campus.
2) She fills the supplier spot because she promotes apps. People can't really sell apps in person because the are bought on the mobile device, but you can promote them in person and that is what Allyssa does for many apps.
3) I found her because I was walking around campus and she was passing out stickers for the app Leaseful and promoting it.
4) I asked if I could ask her a couple of questions. It turns out she promotes 5-hour Energy as well.  In return I downloaded the app she was promoting.
5) This will help me figure out how to promote my app and what will make people want to buy it and how to get people to hear about it.

Reflect: 
This was really difficult for me because I do not know many people who know people who create apps or sell apps because it is sold on mobile devices and not in a store. For future events, it makes me want to prepare questions and make sure I do research of a person's background. This will allow me to ask the best questions possible to make a good app. This was different because usually when I network I am in a networking environment like a career showcase or something like that.

21A – Reading Reflection No. 2

How to Fail at Almost Everything and Still Win Big - Scott Adams

1) There were many themes to this book, but overall the best way to describe the theme was setting your priorities in order to have energy that leads to success. For example, Scott Adams said energy is extremely important because it is necessary to have something that excites you and gets you up in the morning like side projects. Side projects give you energy and stimulation and passion that lead to success.

2) I loved this book and did not expect it to be like this. There was humor and I kept wanting to read what was next. Usually I do not find entrepreneurship books enticing, but this book was great. It connected with this class in the way that I thought goals were important, but in reality it is a system that is important that leads you to your "goal." I think this can help in any business aspect because it is important what you do and how you view things. It is also important to acquire new skills because every skill he said doubles the odds of success.

3) I would make people find a goal for themselves. Then I would have them create a system to follow to achieve that goal, but don't focus on the goal. Focus only on the system. Scott Adam said that goals are specific objectives, but systems are supposed to be followed on a regular basis. For example, say a person's ultimate goal is to lose weight. The system to this goal would be to eat healthier. Systems make the person feel good when they follow it, but goals make it feel like people they are failing if they do not achieve it.

4) I had a lot of "aha" moments, but the biggest surprise for me was he said to be selfish. I was not raised to be selfish. I was raised to put others first and help everyone I can. He said it is important to focus on yourself, which includes diet, exercise and your career. One of the reasons for this is because you can't help others if you cannot help yourself. It makes sense, but I never really thought of it that way. If you aren't at your best, then how are you going to give your best to others? That is why it felt like such a big "aha" moment for me.