Tuesday, November 19, 2019

30A - Final Reflection

2) The post that sticks out most to me while I was looking through my posts was the "What's Next" assignment. I really felt that the assignment made me be creative and think outside the box for a completely different market that still related to my idea. When I was able to quickly think of alternatives to find different markets to reach to, I felt very accomplished and felt that I have grown from the class. Also, I liked reading back on old posts and seeing how my idea grew and developed into a more detailed plan as the course went on.
3) I definitely see myself as more of an entrepreneur now that the class is coming to an end. i have noticed that I am more creative and like to think of alternative solutions to problems. Therefore, this class has helped me grow and develop a better entrepreneurial mindset.
4) If I were to make a recommendation to students, I would say to really put the effort into this class because you can get a lot out of it. Also, I would recommend picking a business idea that you are passionate about and really are interested in since many of the assignments are based off that idea. If I was not passionate about my idea I would have found it more difficult to complete the assignments. 
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29A- Venture Concept No. 2

1. Business name: Support for students

Opportunity:
My service serves the unmet need of resources for college students. Adjusting to college life can be difficult for many students and I personally believe there is a lack of resources and support for students who are on their own for the first time. The customers would all be students usually from ages 17-23. I do not want the focus to just be toward students with mental health issues, but for any struggling student that is going through a difficult time. Therefore, the customer base would all be students. Since everyone going to college has never been on their own before and away from family, I believe they all have similar struggles in college that can be addressed in a positive way.

Innovation: 

Therefore, my company/nonprofit organization would focus on providing the support necessary for students. More specifically, the organization would have a range of services from one on one appointments with psychologists, group therapy, stress/time management classes. The setback I faced based on my interviews was if we would have sufficient funds to make this organization successful since salaries for psychologists could be expensive. 


The three minor elements: 


  1. Our most important resource will be the unique classes and psychiatrists that are provided for students.
  2. Whats next? we can provide new classes that help the college students adjust.
  3. I would like to have created a successful, profitable business that helps many college students improve their overall mental health and happiness.


2) The feedback I received from my previous venture concept description was all positive. All of the student responses said that they really liked the idea and thought it would be a great help to students. Moreover, the feedback from my "What's next" exercise was also positive. All of the responses said they liked my alternative idea of helping the elderly and that it might be an even better market than helping college students since elderly people sometimes have more money than college students.
3) I didn't change my venture concept a lot since I received positive feedback. However, the feedback made me more confident in my idea and gave me hope that it could be successful in the future.
4) 
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Sunday, November 17, 2019

28A- Your exit strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
I intend to stay with the business until I retire, and either sell the company or pass it down to my children. If the business still has room to grow and would be successful for many more years to come, then I would see if my children wanted to take over. However, if a buyer approached me and offered me a great price for the company, then I would probably sell it and I can help my children start their own company if they wanted to be entrepreneurs. 
2) Why have you selected this particular exit strategy?
I selected this exit strategy because since I am passionate about the business, I would not want to sell it after a couple years. If the business is successful enough, I would like to continue to grow it and help others. I would want to keep the business because I want to have a business, but help others too, so this business would provide that for me.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
My exit strategy has influenced the other decisions I make because now I have a better understanding of what type of business would be fulfilling to me and make me happy. Since helping others is very important to me, I know that my decisions for identifying opportunities will be centered around that. My exit strategy influenced my growth intentions because since I want to have the business until I retire, I would need to strategize about how I want to grow the business if I want it to be successful for many years.

27A- Reading reflection no. 3

1) What was the general theme or argument of the book?
I read the book The Art of Social Media: Power Tips for Power Users by Guy Kawasaki. The general theme of the book was how to effectively use social media platforms.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
The book connected with what we are learning in ENT 3003 because social media is a crucial tool to have when having your own business. Effectively using social media can significantly increase the number of customers your business has, so this book connected really well to this class.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
If i had to design an exercise for this class based on the book, I would have an exercise that has students practice using social media based on the methods discussed in the book. Doing so can put the practices into action so it can be learned better.
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
One of the biggest "aha" moments i had when reading the book was when Kawasaki explained that we should have a picture, graphic, or video with every social media post. It surprised me because I never thought that a visual aspect to the post would be important to grab your audiences attention. Therefore, I found this tip very useful.

Wednesday, November 13, 2019

26A- Celebrating Failure

1) This semester I was a participant in HLC (Heavener leadership challenge). After graduating from the program as a participant, we have the option to apply to become a facilitator, which help run the program. I love HLC, so I wanted to apply to become a facilitator to continue my involvement in the program. However, there were only two spots open for this Spring, so I did not receive an interview for the position. 
2) I learned that sometimes you can't get everything you apply for, but if we really want it, we can try to improve and try again. Therefore, since I did not receive an interview for the facilitator position this semester, I am going to keep applying and try my best to get it next semester. 
3) I look at failure as a learning experience. If everything was handed to us, we would not learn from our experiences and we would not be able to improve. Growing and improving are critical parts of life as we get older. Therefore, I am disappointed when I fail because it is hard at times, but I don't usually give up easily when I fail because I know there is always room for improvement. This class has changed my perspective on failure because I realized that in the business world, we are bound to fail and make mistakes. How we learn from our failures determines how we do in the future. I am definitely more likely to take a risk now because of this class. I am going to try to go out of my box and apply for things even if I'm not sure I will get it.

Tuesday, November 12, 2019

25A - What's next?

Existing Market. 
Step 1: what's next in terms of products and services for your venture.
  • I want to create more new classes that help college students adjust to college life, and begin to help them shift into adulthood and being on their own. We can have new classes that now help students budget their money or invest.

Step 2: 
  • When I interviewed 3 customers that relate to the market I have identified, they suggested having more classes that work in self love and confidence classes, as well as more variety to group therapy sessions. When I told them about my ideas for classes for budgeting and investing, they agreed that those classes would be very beneficial toward college students, but to also keep it focused on mental illness and achieving your best self.

Step 3: 
  • Based on my expectations and feedback from customers, I want to keep my business focused on helping students conquer their mental illnesses. For the future, I want to provide as many services as possible to students so we can accommodate as many as possible, while also providing the highest quality of therapy and classes. As I was interviewing people, I realized that achieving happiness and being happy with ourselves is something that many people struggle with, and it can sometimes take many years to accomplish. Therefore, introducing classes about confidence and techniques to stay positive and happy would be beneficial. Classes paired with individual therapy sessions with psychiatrists would hopefully be beneficial for students. 
  • However, since my business targets a specific market of people, we may face issues when trying to become profitable. Therefore, I still believe that introducing classes about investing or budgeting would target a wider range of college students, not just students with mental illnesses. In my opinion, I feel that students are thrown into the real world after they graduate, and oftentimes feel unprepared. Therefore, if we provide classes for students that can directly help them prepare for the real world, they would feel more confident starting their new lives after college.

New Market.
Step 1: A completely different market of people would be affluent elderly people. 
Step 2: We could provide classes for elderly people to keep them busy and occupied.
Step 3: I interviewed both of my grandparents for this part of the assignment. Both feel that they are oftentimes bored at home with nothing to do, and they wish they could be more active. They think this business could be beneficial to them if we provide activities and different classes that keep elderly people busy. We could have fun classes such as cooking or golf that keep them busy, or we can also have classes that improve their memory or other skills they could work on.
Step 4:  Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on. 
I surprisingly came up with this idea fairly quickly. Whenever I call my grandparents, they are always just sitting at home watching tv or going on walks. Therefore, my assumptions to provide them with more activities was correct. I was not very surprised at all after interviewing my grandparents. Since i know them so well all of their answers were pretty much expected.
I am not sure if this market is as attractive as my existing market. However, since many older people, especially in Fort Lauderdale where Im from, are wealthy, this many be more profitable than a business targeting college students on a budget. Therefore, I would need to interview more people to get their opinions on which business would be more profitable. 

24A - venture concept no. 1

Business name: Support for students

Opportunity:
My service serves the unmet need of resources for college students. Adjusting to college life can be difficult for many students and I personally believe there is a lack of resources and support for students who are on their own for the first time. The customers would all be students usually from ages 17-23. I do not want the focus to just be toward students with mental health issues, but for any struggling student that is going through a difficult time. Therefore, the customer base would all be students. Since everyone going to college has never been on their own before and away from family, I believe they all have similar struggles in college that can be addressed in a positive way.


Innovation: 
Therefore, my company/nonprofit organization would focus on providing the support necessary for students. More specifically, the organization would have a range of services from one on one appointments with psychologists, group therapy, stress/time management classes. The setback I faced based on my interviews was if we would have sufficient funds to make this organization successful since salaries for psychologists could be expensive. 

The three minor elements: 

  1. Our most important resource will be the unique classes and psychiatrists that are provided for students.
  2. Whats next? we can provide new classes that help the college students adjust.
  3. I would like to have created a successful, profitable business that helps many college students improve their overall mental health and happiness.

23A- Your Venture's Unfair Advantage

Tuesday, November 5, 2019

22A - elevator pitch 3

1) The pitch. 

 https://youtu.be/JcXIjfqSVK8

2) A reflection on the feedback you received from your last pitch. 

The feedback that I received from multiple people was to keep the same energy I had while delivering the feedback, but try to memorize it more. Some of the feedback said that it looked like I was reading too much during the pitch, but that the content of the pitch was great.

3) What did you change, based on the feedback?

Based on the feedback, I kept the same pitch because I received only positive feedback on it. However, I tried to memorize it more and have it look like I was not reading from a script as much since that was the critique I received. 

Thursday, October 31, 2019

21A - Reading Reflection No. 2

Wednesday, October 30, 2019

20A - Growing Your Social Capital

1) One person must be a domain expert in your industry. 
The person I contacted for the expert in my industry was the CEO of United Way of Broward County, which is a nonprofit organization. She is filling the domain expert contact slot because she has been running a nonprofit for years and she knows the ins and outs of the organization. I know the person because I had an internship at United Way this past summer and she knows my grandparents and parents. I helped her with a lot of work over summer so I do not think she would require anything in exchange for helping me. She is a very well connected person in the community so having her in my network could open up many opportunities.

2) One person must be an expert on your market. 

The person I contacted from this area of the market is my parents friend Jen who owns her own psychiatry practice in New York. She would fill the market area of expertise because she understands how to target customers in this area. My parents have been friends with Jen for years and I have met her many times so I got her contact from them. If she did me a favor I would make sure that I did something for her in return since she went out of her way for me. Since Jen has a lot of expertise in this area, having her in my network could be a very big opportunity in the future. 

3) One person must be an important supplier to your industry. 

Since my service involves psychiatry, our supplier may be someone who supplies medicine to psychiatrists to give to clients. My contact that would be a good supplier to this industry is my dads friend from college that works in pharmaceuticals and has been for over 20 years. I contacted this person through my dad. We have been family friends with his family since before I was born so I do not think I would need to do anything in exchange for a favor. He is very well connected in this industry so having him as a contact could be very beneficial.

For all of the people I contacted for my network, I asked if I could show them my idea napkin to establish potential goodwill.

This experience shapes how I will participate in future networking events because I now realize how important networking is to create a successful business. It's hard to start completely from scratch without having connections that can help you be successful. This experience differed from my networking experiences in the past because I have never taken them very seriously. More recently I am realizing how significant networking is not just for opening a business, but for many other jobs and avenues as well. 

19A - Idea Napkin No. 2

1) You. My name is Ava Daly, I am a 2nd year business Management major with a minor in Entrepreneurship. One of my passions is helping others. I have experience planning fundraising events, leading people, and organizing and running meetings. When I was in high school I planned an event to raise money for Marjory Stoneman Douglas and we raised 10,000 dollars. I want to have a profession that is rewarding and centered around helping others, so that's why my business idea is focused around helping students with mental health issues. 
2) What are you offering to customers?  My service serves the unmet need of resources for college students. Adjusting to college life can be difficult for many students and I personally believe there is a lack of resources and support for students who are on their own for the first time. Therefore, my company/nonprofit organization would focus on providing the support necessary for students. More specifically, the organization would have a range of services from one on one appointments with psychologists, group therapy, stress/time management classes. The setback I faced based on my interviews was if we would have sufficient funds to make this organization successful since salaries for psychologists could be expensive. 
3) Who are you offering it to? The customers would all be students usually from ages 17-23. I do not want the focus to just be toward students with mental health issues, but for any struggling student that is going through a difficult time. Therefore, the customer base would all be students. Since everyone going to college has never been on their own before and away from family, I believe they all have similar struggles in college that can be addressed in a positive way.
4) Why do they care? Customers would pay money for my service because mental health is very important to people. Many people I know are struggling with internal issues and they do not know who to turn to for help. College is supposed to be a positive experience so with mental health issue rates increasing I believe students would want this service.  
5) What are your core competencies? There are not many resources for students in Gainesville so we would not have much competition. The one resource we have is Gatorwell, which is very hard to make an appointment with and they would not have as many services as my company would have to offer. What makes us stand out is that we would have many different services for students that no other company would offer. 
I believe that my idea is a practical one that could help a lot of people. However, it might be difficult to make enough profit to keep up with the expenses of the company. Since psychiatrists often receive a high salary, in order to have many psychiatrists on staff could be very expensive to maintain. Moreover, college students on a budget may not want to pay for an extra service when they can receive free help from GatorWell. Therefore, the logistics of the company may be difficult to predict, however if we market the company well enough we may be able to get a high enough customer base to keep the company profitable. Also, since there would not be that much competition in this area, the elements could fit together well and be a success. 
Feedback memo:
The two main points that I took from my feedback was that a potential setback would be getting over the financial issues from the students side. Many students are on a budget and may not want to pay for the higher quality service and just go to GatorWell. Another point that was made was that a service like this is needed in our area because of the lack of resources we have for this type of issue. I implemented my feedback into the evaluation of my service in the logistics of the service fitting together. 

Monday, October 21, 2019

18A - create a customer avatar

The avatar/prototypical customer for my service would be college students. Therefore, my avatar displays a young looking female student, however the prototypical customer would include male students as well.

My customer would be a college student that most likely hangs out with friends in their free time, and focuses on school for a lot of their time as well like most college students. Their hobbies will most likely include spending time with friends, watching movies, and going out. Usually college students do not drive nice cars, or bring cars up to school at all, so they would either have a cheap car, or a scooter. Moreover, my customers would be from ages 17-22 and not have any kids. Most college students are stressed with school and balancing all their extracurriculars, school, and friends. So, my customers would all have similar problems and interests.

I have a lot in common with the customer avatar because I am a college student who struggles with everyday college issues as well. I do not think our similarities are a coincidence because I most likely chose this service as my idea because my friends and I can relate to it. Since I also went through struggles adjusting to college, and I witnessed my friends go through similar issues, I believe that it is only natural that creating a service to help college students adjust to college and manage mental health issues would appeal to me. Therefore, I can relate a lot to my prototypical customer which is why I am so passionate about my idea.

17A - Elevator pitch No. 2

Tuesday, October 15, 2019

16A- What's your Secret Sauce

1. Describe five ways in which you think you have human capital that is truly unique.
  • kindness - I am a very caring person and I always try to be nice to everyone and make everyone feel included and cared for. 
  • honesty - I am very honest and always give information directly instead of avoiding the problem.
  • authenticity - I am a very genuine person, and I have good intentions behind my actions.
  • compassion - I love being there for my friends and others and I think I put myself in other people's shoes very well. Also, I am not judgmental 
  • organized - I always get my work done on time, usually ahead of time. 
2.  Interview the five people who know you the best.

https://soundcloud.com/user-973304645/nw-3rd-ave
  • Kendall is one of my best friends and my roommate so she knows me very well. She talked about how I am good at using technology, and that I go above and beyond for my friends. 
https://soundcloud.com/user-973304645/new-recording-6
  • My mom talked about how I always go above and beyond for my friends, and how I have high expectations of others as a result. She also talked about how I am a very hard worker. 
https://soundcloud.com/user-973304645/new-recording-3

  • My dad talked about how I am very driven and focused. I accomplish tasks on time and expect others to do the same.
https://soundcloud.com/user-973304645/new-recording
  • Katherine is one of my best friends and she said that I am very positive, happy, and an easy going person. Also, she said that I am open minded, but stand up for what I believe in.

https://soundcloud.com/user-973304645/interview5tiffany
  • Tiffany is one of my best friends and roommates and she talked about how I am understanding and considerate of others. Also, she talked about how I get along with everyone and am focused in school. Tiffany also mentioned how I am a fast learner.
3) Reflect on the differences

The way I see myself and the way others see me is very similar. I view myself as a genuine hard working person and my friends and family think so as well. I think my interviewees are correct about me since I also believe I possess these qualities. I would not make any corrections to my list. I believe it is accurate in describing who I am, and my interviews just support my views.

Monday, October 14, 2019

15A - Figuring out Buyer Behavior

1) Find three people who would fit that segment and arrange to interview them. 
For this assignment, I chose the segment of students in college. All of the people I interviewed are people who are in college and are on their own for the first time in their lives. One is a sophomore (female) here at UF, another is a freshman (male) who just got to UF, and the last person is a senior (female) at UF.
3) Begin with alternative evaluation. 
Based on my interviews, I determined that the price is the most important factor for college students especially. I also noticed that the quality is only a major factor for certain individuals. The senior I interviewed did care about price, but she also valued quality as well because she has a job that allows her to afford higher quality items and services However, the others I interviewed are on a tight college budget, so price is an important factor for them, while quality is not always. 
4) How/where do they buy? 
My segment is more likely to buy online in general, but in regards to my services they would have to come in person to receive the services. Also, the people I interviewed almost always use credit cards over cash. Since my service concerns students' mental health, the people I interviewed claimed that coming in person versus online was not an issue. 
5) Post-purchase evaluation. 
The people I interviewed think about how useful a product is. For example, the senior I graduated does not mind spending a little more on clothes or a product if she is going to get good use out of it and wear/use it often All of the people I interviewed determine if they made a good purchase based on its use. If they buy a product that just sits in there room unused then they know they made a bad purchase. 
6) Report the findings. 
All of my findings concluded that the price of a service is a major factor in college students purchasing habits. However, in certain situations such as mental health, students would be more willing to spend the money on themselves if they are going to get good results from the service. In regards to online versus in person shopping, the people I interviewed preferred to shop online for products, but for services they did not mind going into a store. The students I interviewed also stated that their well being is important to them, so although price is an important factor in their usual purchases, they would not mind spending the money on a high quality service. 
7) Draw conclusions. Based on what you know about this segment and what you learned in your interviews, how would you succinctly describe this segment in terms of alternative evaluation, purchase decision, and post-purchase evaluation? 
Based on the information I learned in my interviews, students are willing to spend money on certain services depending on how useful it is to them. However, price is a crucial factor for college students, since a lot of them are on a budget. Therefore, there could possibly be an issue with college students affording the service, but the students I interviewed said that their mental health was important to them, so they would pay for it. Since good mental health is important, people's post purchase evaluation should be positive if they find the service useful to them. 

Wednesday, October 9, 2019

13A reading reflection no. 1

Andrew Carnegie, David Nasaw
1) You read about an entrepreneur:
  • What surprised you the most?
    • I was most surprised that Andrew Carnegie was only 5 feet tall. I found that fact very humorous and surprising. Also, I was surprised that Carnegie was so successful with very little formal education.
  • What about the entrepreneur did you most admire?
    • I personally admired how Andrew Carnegie was a very successful businessman, yet he still gave back to others. Philanthropy is a passion of mine, so when I read that Carnegie gave away around 350 million dollars to others, I was very impressed. Carnegie's funds opened 2,500 public libraries, since he was a big lover of books. 
  • What about the entrepreneur did you least admire?
    • I least admired how some people felt that Carnegie became successful at the expense of his employees. His employees were so unhappy to the point that they refused to work and initiated the Homestead Strike of 1892. Even though Carnegie was not there during the strike, he was still responsible for keeping his employees happy.
  • Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
    • Carnegie experiences adversity and failure from a very young age. He witnessed his sister and brother dying, and he watched his father struggle and fail repeatedly. Also, Carnegie experienced business failures and had to reinvent the company numerous times. Specifically, his company dealt with labor issues. However, despite his struggles, Carnegie persevered and never gave up on his company and vision and turned it into a great success.
2) What competencies did you notice that the entrepreneur exhibited? 
I noticed that Carnegie always had perseverance and never gave up. Creating a business as successful as Carnegies came with many obstacles. Since Carnegie grew up poor and experienced many hardships during his childhood, I noticed that Carnegie needed perseverance to be a success in America with no formal education. 
3) Identify at least one part of the reading that was confusing to you.
I was not very confused during the reading but if I had to pick something i would be curious to know more exactly how Carnegie made his company so big and successful. It seems very difficult to attain. 
4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?
  • If you were to change anything, what would it be? 
    • I think that Carnegie may have good advice to avoid many of the hardships he endured when creating his company after looking back on it that could be helpful for a new entrepreneur. 
  • How did you make your company such a success and get past the obstacles and keep a positive attitude?
    • creating a successful business as big as Carnegie's takes a lot of willpower and patience. Therefore, I would like to hear Carnegie's perspective on how he was able to make his company happen.

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?
I think that Carnegie's opinion of hard work was never giving up and powering through any obstacle that was thrown his way. I agree with this opinion because I believe we have to endure hardship to learn how to create something great in the end. 

Thursday, October 3, 2019

14A - halfway reflection

1) Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 
The behaviors that I have used to keep up with the requirements for this course are hard work and time management. Since there is a lot of work in this class, time management is very important in order to get all of the work done and not miss the deadlines. Since the deadlines are in the middle of the day, I usually get the assignments done ahead of time so I do not miss it. Doing so makes the class way easier to manage. 
2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
Recently during exam week, I had 3 exams to study for while also trying to juggle obligations with the organizations I'm involved in on campus. Therefore, it was very stressful to get everything done and manage my time correctly so I felt like "giving up." However, I reminded myself that it was only temporary and that I would be happier in the end if I tried my best right now. I feel like I have developed a tenacious attitude during the past two months from this class especially. Being creative and managing my time effectively have definitely helped me develop a more tenacious attitude during this busy time. 
3) Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?
1. I recommend getting the assignments done early in this class to avoid missing the deadlines. 
2. In order to develop a tenacious mindset, I recommend giving 110% on all assignments and trying your best. 
3. I recommend picking an opportunity that you believe in and are passionate about since many of the assignments build off your idea.


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