ENT 3003 Experimental Blog

1) After going through my previous posts, a lot of memories came back to mind, which some were being good and some were being bad. My highest moment was finally completing the Venture Concept No. 2. Just all my hard work I put into this class, I finally put together all work together onto one assignment. My entire semester was in that one assignment, and to say that I'm proud of my work is an understatement. My lowest moment was getting rejected by all the people for interviews. Although, I'm glad for each rejection as it has made me develop my thick skin. 2) My most formative experience was also my most joyous experience. Doing the elevator pitches were quite interesting. I remember not being able to speak coherently nor remember my speech for the 90-second pitch. After two trials, my final pitch showed so much of my progression in public speaking and commanding the attention of a room. 3) I do think I have moved closer to developing my entrepreneurial mindset. Although, I...

OPPORTUNITY Opportunity: UF students aren't able to build their credit scores because of their student loans and lack of knowledge surrounding the subject matter of credit building. Potential Customers: UF Students or young people who lack knowledge of credit and how to begin building their credit score. The specific age range is around 17-23 years old. This age range is specific because that's the usual age range of an undergraduate student attending university. Nature of the Need: The apparent lack of knowledge or need for young individuals to learn this essential skill before graduating from university and living in the real world. The knowledge of credit building is essential for financial decisions in these young individuals' lives later on in the future. Forces or Changes in the Environment Creating this Opportunity: Individuals these days are not properly taught essential life skills or knowledge to survive in the real world. The lack of classes in schools tea...

My exit strategy for my venture would be to invest in the business for the next couple of decades and reinvent the business into a large corporation over watching multiple products and brands similar to Amazon. After being on top, around my 50s or 60s, I will retire from my CEO position to allow new blood to take over and live my days vacationing around the world. I selected this exit strategy because I want to do or accomplish something throughout my life. I want to build an empire of businesses that I could look back on and see how much I have accomplished. Then, I want to retire and live the rest of my remaining life exploring the world and doing m bucket list activities like skiing the Swiss Alps. I don't think my exit strategy influenced my venture concept because I want to retire after 20-30 years. This amount of time would allow me to accomplish everything I want to do in my business. If I don't accomplish something, at least I tried and failed. Although, I don't...

I chose to read the biography on the interesting life of Steve Jobs. Growing up, all I had were iPhone with my first one being the iPhone 4. I have loved Apple as a company and its products because of their sleek designs and early innovations back in the day. I have followed Apple since elementary school and will continue until I decide to switch products. 1) You read about an entrepreneur: -What surprised you the most? What surprised me the most was Steve Jobs' fallout with Apple. I completely forgot that Steve Jobs was fired by Apple due to the power struggle with the company's board and other executives. -What about the entrepreneur did you most admire? What I admired most about Steve Jobs was his innovative mind. He always pushed to create the next best thing. His drive to be the best is what got Apple to its position where it is today. Without Steve Jobs, Apple could have filed for Chapter 11 bankruptcy. -What about the entrepreneur did you least admire? What...

During the assignment 'Figuring Out Buyer Behavior No.1,' I remember failing to get people for interviews for the whole week. Time after time, I would get turned down multiple times by people to answer my questions. Sometimes, I was met with disrespect or hurtful words when I approached people. It was understandable as I was going out of my way to ask them. They probably were offended by my approach or how I took time out of their day being in the way. I learned how to not make anything personal. I can't get hurt over the fact that people don't want to help me complete my interview no matter how kind I was. I grew some thick skin. Also, I realized to take the other person's perspective in the situation and understand how the other person might be in a rush or having a bad day. I reflect on failure as not embarrassing, but more of a learning experience. In the moment, I remember that I was embarrassed and hurt because I failed into obtained interviews. Although I...

Existing Market: What's next in terms of products and services for my venture? I believe expanding into teaching credit building on a global stage is what's next for my venture. Also, I believe my venture will also add the feature of teaching how to maintain a good credit to combine with building credit. Interviewing Existing Market After interviewing three potential customers on their thoughts and ideas are about the future of my venture, they responded with some ideas and directions I should take my product. They said I should get involved with companies to create a program for new hires to learn how to build credit as companies hire a lot of young people all the time. They said it's a huge opportunity to capitalize on because these young people are fresh out of college and now on their own. Therefore, they are willing to learn how to build credit with sufficient income and life responsibilities. While in college, kids don't care because they want to have their c...

OPPORTUNITY Opportunity: UF students aren't able to build their credit scores because of their student loans and lack of knowledge surrounding the matter. Potential Customers: UF Students or young people who lack knowledge of credit and how to begin building their credit score. Nature of the Need: The apparent lack of knowledge or need for young individuals to learn this essential skill before graduating from university and living in the real world. Forces or Changes in the Environment Creating this Opportunity: Individuals these days are not properly taught essential life skills or knowledge to survive in the real world. The lack of classes in schools teaching this specific opportunity is a huge flaw in our education system and provides me with my grand opportunity to seize the moment. Market Defined by Geographics or Demographics: The market is more defined by demographical factors as younger individuals are the specific target market. Customers Satisfying this Need Be...

1) Accessibility This advantage is very valuable because it means I can reach customers quite easily and quickly. This advantage is not so rare as many other apps have been created through this process. This advantage is not inimitable as it has been done before with other mobile platform apps. This advantage is non-substitutable because it is vital to my product. 2) Human Capital This advantage is very valuable because it provides me an edge in productivity. This advantage is not rare because many people can accomplish an assortment of tasks needed for my product. This advantage is not inimitable as most businesses have human capital. This advantage is substitutable depending on the human capital. Some people are more replaceable than others. 3) Social Capital This advantage is valuable because it allows my product to grow rapidly. This advantage is not rare because products required social capital to spread the awareness or knowledge of the product. This advantage is not...

https://youtu.be/Ledr7DU3w3U Reflection: I do feel like after doing two of my previous elevator pitches that I am more comfortable and confident in delivering my pitch. In my first pitch, I had to do so many tries because I couldn't remember my pitch nor deliver it correctly. I felt uncomfortable most of the time and didn't feel like I put forth my best work. Also, I never filmed myself with a camera and talked to a camera lens. By my second pitch, I was a little more familiar with the equipment and what to do. My second pitch was a huge improvement, but I feel like it didn't include all the material I needed because I went too slow. So, in my third pitch, I feel like I have mastered this part of being an entrepreneur. I believe my third pitch is my best work. I took the advice given to me from my last two pitches and put forth the effort to fix those mistakes.

Book:  Grinding It Out: The Making of McDonald’s, Ray Kroc 1) What was the general theme or argument of the book? The general theme of the book is the creation and journey of Ray Kroc and the McDonald's brothers in the creation of the fast-food chain restaurant, McDonald's. It's told from the perspective of Ray Kroc as he is the author of his autobiography.  2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003? The book explains the entrepreneurial mindset from the perspective of a successful entrepreneur. Ray Kroc provides an interesting meaning to having the drive or the will to pursue ideas and goals. I think he enhanced my idea of what perseverance is. I believe I connect with his way of thinking outside of the box.  3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve? The exercise I would design would be based upon the experiment to take something that...