WEEK 15 Reading Reflection

1. I was most surprised that they attributed their growth success not to better technology or innovative ideas but to their focus on the customer.
2. I was confused about the basic implications of microfinancing before reading the entirety of the article. I was also confused as to why they only lend to women, I understand their justification for lending more to women but why solely?
3. I would ask the author what can be done about the following issues, their lack of access to commercial funds, the high cost of handling millions of micro transactions, and an inability to create scalable operating systems? Also, how will these changes improve the efforts of microfinancing?
4. I don't think the author was wrong about anything in the article, I found it quite factual.

Final Reflection

I think the experience that I will remember forever is the one where we tried to give away a dollar bill to a stranger. It was one of the most interesting experiences I've had with an individual I did not know. I am most proud of myself for completing the interviews with strangers because that required going a bit out of my comfort zone.
I do not yet see myself as an entrepreneur, but I would say that I have started to develop that mindset.
To perform best in this course, I would suggest that future students try to take advantage of every assignment no matter how small it may seem. I learned a lot from the course and I think I could have learned even more if I had taken some of the smaller assignments more seriously.

Venture Concept No. 2

Opportunity:

My business concept will benefit a wide variety of individuals who lack time or transportation to accomplish every day tasks like grocery shopping. My original and still primary target is students. I have expanded my customer base to include families residing in Gainesville and also the elderly.

The amount of students residing in Gainesville makes this business have a large customer base. The additional parking restraints on campus make the number of students without cars even higher.

Currently customers are having to accomplish this task through different avenues. They may hire individuals through unsatisfactory websites know for scams like craigslist and care.com or they may take extra measures to find transportation such as the RTS bus system. Unfortunately this bus system is only free to students and faculty so others have to pay for the service. Also, while it may be free for students and faculty, it is not always convenient as many routes only run during normal business hours when customers are in class or at work.

This business idea has the opportunity to make a lot of money if it is marketed correctly and the price is fair. The window will remain open so long as other companies do not arise offering the same service.

Innovation:

This business idea is a service that will provide transportation of groceries from the store to the home of the customer. The customer will download the app and compile a list of groceries they would like purchased. They will select a date and time range for delivery. After they have completed their order, they will pay the cost of the groceries as well as an additional fee for the service. The service fee will be a flat $15 for orders under $100 and $20 for orders over $100 with an additional $5 fee for customers who live outside the predetermined area. There will be a special $5 discount for students with a UF ID.

Venture Concept:

This service eliminates the time and transportation issues that people of Gainesville face. Families without time to shop can have groceries delivered to their door. Students without a car do not have to take the bus or plan their day around the RTS bus schedule. Faculty can have their groceries delivered at later hours when the Bus is not running. The elderly can avoid using services on unrepeatable websites and trust an established business for their deliveries. Once families and students see how much time and energy they will save by using this service I am sure it will be easy to get clients to participate.

Feedback:

From my last post, I received a new suggestion to market how time efficient my service is and to guarantee customers that their groceries will not perish in transport. 

Change: From this feedback, I have decided to change some of the marketing strategies for my concept to include a campaign for fresh, local and healthy food options. 

Elevator Pitch No. 4

FINAL ELEVATOR PITCH

For the last elevator pitch, my computer was not uploading to youtube so I could not upload my newest video. However, if I were to change something about this it would be working on the enthusiasm/tone and creating a stronger ending note. Overall, the feedback on my general presentation and choice of facts has been supportive so I don't think changing the content of the speech is necessary. 

Week 14 Reading Reflecton

1. I was surprised about the detail into foreign and global business. When I think of an entrepreneur, a local startup is what comes to mind. It is hard for me to grasp the growing idea of an international business but it is really neat to think about all the businesses that started as a local shop and now have to take these global concerns into account.

2. In the reading, the idea of corporate venturing is discussed and they list three ways in which this happens. Internal corporate venturing, cooperative cooperate venturing and external corporate venturing are all listed but not explained of differentiated which makes understanding their importance confusing.

3. I would ask why they did not feel the need to differentiate between these three types. I would also ask which is the most advantageous to achieve corporate venture.

4. I think the author was wrong when he said that when rules are followed they create an environment conducive to entrepreneurial thinking. Entrepreneurs think outside of the box and they get to their success often by not following the typical rule of thumb.

Google Gold

In order to optimize the search engine results, I used a letter at the beginning of the alphabet as my blog title. I also used keywords continuously like blog, post, information and key words directly related to the topic.

I did refine my keywords throughout the semester. Originally, I was primarily using the word blog. I then realized that when people search a topic they might be just as likely to search "post" so I started adding that phrase as well. I also used words related to my business venture and constantly used my business title, Shop & Drop.

For this particular blog, I did not use social media efforts since I am in the beginning stages of planning. If this idea were to come to life, I would use my social media platforms to share and highlight stories from my blog and encourage readers to check it out.

I didn't share my posts on social media bu if I had, I think the posts with the most graphics and videos would have been the most viewed and would have gotten the most shares. All text pieces are less likely to keep a readers attention.

I was not able to find my blog on the goggle search so it looks like I still have some work to do to get my idea out there!

Very Short Interview Part 2

Reflection on first interview:
Looking back, my impression of the first interview is one that I would expect to have. I did not know much about starting a business or maintaining one and I think it showed.

Interview

1. Do you find that developing your own business is worth the risk?

Yes. Life is about risks. Not taking random shots in the dark and hoping they pan out, but taking calculated risks with good judgement and planning that yield results.

2. Your business is successful but if it was not would you still be happy you made the attempt?

If my business had not worked out, I probably would have had moments of regret and many moments of reconsideration but at the end of the day I would be happy that I had a dream and I pursued it because many people don't.

3. If you could do it all again, would you do it differently?

I wouldn't trade where I am now, I wouldn't go back to hope to be in a better place but I would go back and ask for help sooner when I wasn't sure where to turn. My success was delayed multiple times in my journey and I could have gotten where I wanted to be if I had the courage to ask for a hand sooner.





I've learned a lot in this class about being an entrepreneur and I think it shows in my interview questions that what I want to know more about is the risk factor. I don't know that I am the type of person that could jeopardize so much for an idea. I would have to have an overwhelming belief that I would succeed in order to jump into something that could potentially fail.

Week 13 Reading Reflection

Chapter 14

1. I was the most surprised by the overall emotional take of this chapter. Emotions are involved in business but I expected them to be as removed as possible and with this chapter there was a lot of focus on the role that emotions play in the success and failures of an operation. 

2. I was confused by the idea of undercapitalization. The book did not go into much detail on this and I think they could have provided more of an explanation with an example. 

3. If I asked the author two questions I would ask them,

                          Although emotions can cause negative effects are they still important in the business                             process? Why?

4. I think the author was wrong in describing divergent goals as a short coming. I often find that when two people see a different picture and have different goals that there is a strong potential for the idea to expand, develop and grow into something bigger. More minds equal more opportunity. 

Celebrating Failure

My failure is actually in this class. So many times this semester, I have lost points simply because I have not managed my time or my calendar well. I forget that assignments are due or I forget that they are due at 9pm instead of midnight like all of my other classes. Just this past Sunday, I missed out on 3 points because I was at an event until 10pm and forgot to submit the assignments before I went.

I have learned that I need to set reminders in my phone for things that go against my normal schedule. I am so used to school assignments being due at midnight that this class has been a constant struggle. I should of set weekly reminders to go off on my phone at the very beginning. I've learned that my body and mind are very used to repetition and when something goes against the norm for me I need to take extra measures to remember.

Even though my failure was actually in this class, I have also learned things about myself from the material. I have pushed boundaries and discovered new skills. I have made myself more comfortable dealing with strangers and I have discovered new passions for the business world. I've learned that failure is inevitable but its what you do after you fail that really matters.

My Exit Strategy

EXIT STRATEGY

For the business idea, my exit strategy would depend on where I choose to settle down with a family. This business is focused around the college student base of Gainesville, Florida. At my age I don't know where I will be in a few years. If my family chose to settle down in this community I would keep the business in the family and pass it down to my children and other relatives. Should I move out of this area, I would sell the business for a return on my investment and wish the new owner just as much success. 

These would be my strategies because I am a family first type of person. If my family found it best to stay in the area I would want them to be apart of the process and share in the success. If it was best for my family to settle else where I would want to be with them at all times and would therefore sell the business and use the profit to support my family in the move. 

Because I do not know where life will take me, I have been guided by my exit strategy in that I do not want to spend money that will not result in a profitable return. I have been careful about the scope of my business and making only calculated risks. In all, I put my family first and my business model reflects that.