Week 15 Reading Reflection

One area in which this article stood out was the fact that they seemed to be talking down upon outsourcing. The opening paragraph is about how these local areas are extremely dangerous to these companies. While this may be true, the economic benefit that these areas have for the company greatly outweigh the cost. 

One of the parts that confused myself in the article is the fact that microfinnance institutions are nonprofit (80%). I don't understand why so many of these companies would be non profit and for exactly what reason. 

The first question I would like to ask the author is what exact example of a microfinnance institute is profitable. The second question I would like to ask the author is about the going from paper to online. How was the transition like?

One area in which I disagree with the author is about is no where. The author is teaching me about things that I have never even heard of until today.

Final Reflection

1) Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

While reading through my blog it is crazy to see all the work I have put in. My lows have to be the fact that I did not complete as many assignments as I would have liked. This class was not the most difficult but the amount of work you put in matters. Some moments I noticed was the crazy things that we had to do like give someone 1 dollar, interview random people and do other stuff that I probably would never do again. 

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

Giving people the 1 dollar will probably be my memory since people walked away from me! Its crazy to see the reactions of people and this is what leaves an impression. The experience I am most proud of would be completing as many task as i did. No other class in my college life has tested me this much

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

Now with my Venture concept I do feel like an entrepreneur. I have completed an entire project that can allow my ideas to grow. Also with feedback I can be more successful with my Idea.

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

DO ALL THE ASSIGNMENTS

Elevator Pitch Number 4

Finally the finish product after all the feedback I have received. This video is exactly why I loved this class and how much work I have put into it.

Venture Concept No. 2

Who would have thought that after three months of trail and error, we would have such an amazing idea. This class has taught myself many valuable life lessons with each assignment. Throughout this course, I have been playing with the idea of “potle2go” which is a food delivery service that specializes in chipotle. Throughout this paper we will analyze the opportunity that this product gives, the innovation behind the service, and how it’s venture concept is unique to this company. 

According to the Description of the assignment, “An opportunity may be defined as a group of customers with unmet or under-met needs.” There are extremely clear groups of customers with unmet needs in the region of Gainesville. The group I have decided to target are non wealth college students at the university of florida. This can be seen since this specific group would be more willing to order food online instead of picking it up at the store. This is because if they wanted to get there they would have to walk or take a bus which could take up to 30 extra minutes there and back while also being a hassle. Also they would use this because since they don't have as much money to blow like these big companies charge. This window for opportunity is quite large since chipotle is the one single restaurant that many college students would like and is not being served. This can be seen in the interviews where people would like chipotle delivered so if there is a company, people do not know about it.  

The descriptions then defines innovation as “An innovation may be defined as a new or creative service, product, or process that may be applied in the marketplace to address customer needs.” The service that I am providing embellishes innovation because it provides a service that is not being used and is applied to the marketplace. The way I would create revenue would be the $2 service charge that would be applied to every single order that is placed. This $2 would make around 10 dollars an hour with 5 orders every hour. This would easily create thousands of dollars a year that would be created without even moving a finger. The idea that I create is revenue with minimal amount of work for myself. The service charge would be separate from the tip which is what the drivers would make as compensation. 

Lastly the description defines “A venture concept may be defined as the application of a specific innovation to address a specific opportunity.” The first area would be getting customers to switch to my company from other delivery companies. This can be easily done by setting the price lower, and making the food more desirable. The competitors are gainesville2go and 352delivery, these companies that sell are either over priced or do not have very good restaurants. That way potle2go will be much more successful then these companies.  

The first resource that i would say puts me above the rest would be the fact that I have the network to get my company started. Being part of a large origination allows me to make my brand known everywhere. This can be done through group chats, emails and other promotional systems within my greek  organization. Other then networking, it is quite easy to start up my own product service since there are tons of other companies that sell different things. 

The beautiful aspect of pole2go is that it allows a huge room for growth. This can be seen throughout the time researching the product with other similar style companies. Some processes that need to be seen are what foods are not being delivered to college students and what do the people want. This would be targeting the same group as before since college students who do not want to spend a lot and don't have a car would still be purchasing through my company. 

Finally the place I see myself in the next couple years is easy. I see myself with a full running company with myself and a tech expert running the company. There will be a car and drivers hired that will cause the company to be running. This company will help me prove that I am a capable company CEO on a small scale which will give me the experience I need 

The feedback I have received did not help me at all with this assignment. Most of the feedback was useless non negative which harms my ability to go and make changes. The first area I looked at was grammer and spelling errors. Then I needed to make sure my product still fit the description I was trying to make. I saw that it was possible to actually achieve the goals I have stated since all of the numbers add up. Overall my concept should be extremely success if done properly

 

Week 14 Reading Reflection

Throughout the reading, one of the ideas that seemed very interesting was intracapital. They state that this is a special type of capital and I never knew of this capital before which makes it more interesting to myself.

The reading was very clear in most of the text, one area that was a little hard to understand was the idea of radical innovation. I know that its a form of innovation but what exactly is the difference between this type of innovation and normal innovational thoughts.

The first question i would like to ask the author is for an example of regular innovation vs radical innovation in exact context. I know they list a bunch of examples but what makes those examples different then the other. The second question I would ask is about benefits corporations. How exactly do corporations have benefits when not all corporations are the same.

One statement I would disagree with is the fact that their are different types of innovation. Although it seems okay to teach different types of innovation, I think that the best type of innovation is original and unique to that person.

Google Gold

Over 40 post ago, I started this blog as simply a task in this class. Little did I know that My page would blow up later more then i have ever known. My page currently has 400 views which is more then I would have expected. Some activities I have done was post a link of my page on other peoples walls. This allowed google to understand the importance of my page making it a more searchable page. Some of the keywords I have been using are words like "week" and "ent". This is because since I had to tag every post as "week x" it shows the importance of the word. I did not use any of my social media to promote my SEO which is probably why I did not get as popular as I hoped. Social media would make my blog more visited even if its just a couple of clicks it would in result causes more people to view since it would be trending. My viral post was my most recent post which is probably like this because the more i post the more popular my blog will become and searchable. I did make the first page of google with my key words which is extremely exciting to see. This taught me that having great SEO efforts actually does pay off. 

Week 13 Reading Reflection

1.What stood out most to me is the vastness of the business analysis checklist. Its size is unfathomable, it makes it seem so complicated and intricate to really analyze any business.
2.One topic that confused me a bit was the types of stock. I really don’t understand the true difference between common and preferred stock, and I feel like this is a pretty important topic to comprehend.
3.A question I would love to ask the author is about business valuation: “Which method do you believe is best for accurately valuing a business?” An answer to this question could improve my understanding and thinking of the whole valuation process. Also, asking what the control factor really means would be very helpful toward my comprehension of the whole topic.
4.To be quite honest, there is not much in this week’s reading that I disagree with, mostly because the author primarily wrote about facts, such as different methods of stock and business valuation and analyses. So, I can’t disagree with fact, I think the author did a fantastic job with this chapter.

Celebrating Failure

This semester has been full of failures since the start of this class. Much of this class is what I do not prefer to do in school. I love studying a week before my exam as hard as possible and live or die on three grades. This class was completely the opposite. I had to focus on school constantly every week to make sure everything was in correctly. My failure was not completing 14 of these assignments already. This is a failure because these assignments are not extremely difficult and if i miss 2 more i have no chance at an A in this class. Ive learned that I should have focused more on school and take this class more serious so that I would not be stress out over assignments. This would help me not only in this class but later when i have other classes, I will be able to keep up with my work. Failure to myself only exist when you have something to impress. Impressing your mother with good grads or friends with what you do, if you fail its because you arent doing something for someone. To handle failure, you must understand that you tried your hardest and need to know that this is the best you can do. This class has changed my perspective on failure by showing that failing sometimes is okay as long as their are ways to improve later. This is how I have changed in the last 4 months. 

My Exit Strategy

The exit strategy I have developed is to sell my company for a large sum of money. This is extremely important to myself because the initial money I have put in would be nothing. That way I can make money for a couple of years and when I am ready to grow on to bigger and better things, I could simply just sell it. This has caused me to influence my growth because I do want to expand the company but that would take years of not making a lot of money. After I graduate I plan on having a high paying job that will over take this small job. Selling the company after becoming successful with chipotle is where I see myself a couple years down the line. 

What's Next

The next step within my company would to be to provide cars to the employees. This way they do not have to worry about spills, gas money and how they will drive if an issue with their car occurs.This way they do not have to worry about spills, gas money and how they will drive if an issue with their car occurs. This provides security within the company. 

The way my market grows is very simple. Starting off in gainesville will make this company become very popular with colleges around the globe. People will want to adopt this since there is not a universal company which delivers chipotle. In all honesty  I don't see this company becoming popular in cities since the wait time which is what drives this company will be much too high. Two years from now I see this company just starting to run. We still need to find a tech expert which will take some time. Also, making the company popular will be extremely difficult and will take some time to begin. Growing in my market will be easily done. The more demand for chipotle the more likely the market will grow in itself. The way I personally expand the company in gainesville is by expanding the radius in which I will see chipotle. 

I completely different market would be all restaurants being served which would expand it from chipotle to everything 

People in this market will now be served delicious food whenever they want and whatever they want. This is extremely important that people know they can literally eat whatever they want which will cause them to come back

The new market that would expand my company is adding restaurants and changing from potle2go to a company that serves everything. This will help change the dynamics of the entire company because it will focus on customer service instead of actually only thinking about chipotle. I do not favor this new market because now instead of running a small easy company, I have to constantly be worrying about all these people working for the different restaurant. Profit will grow but amount of work put in will grow significantly which isn't why I want to do this job. I learned that this new market would love to have sit down restaurants such as ale house and olive garden to also be able to served since not everyone wants to wait and eat family style. This allows for the most room for growth since most fast food or quick food is already being delivered other then chipotle. 

Venture Concept No. 1

Who would have thought that after three months of trail and error, we would have such an amazing idea. This class has taught myself many valuable life lessons with each assignment. Throughout this course, I have been playing with the idea of “potle2go” which is a food delivery service that specializes in chipotle. Throughout this paper we will analyze the opportunity that this product gives, the innovation behind the service, and how it’s venture concept is unique to this company. 

According to the Description of the assignment, “An opportunity may be defined as a group of customers with unmet or under-met needs.” There are extremely clear groups of customers with unmet needs in the region of Gainesville. The group I have decided to target are non wealth college students at the university of florida. This can be seen since this specific group would be more willing to order food online instead of picking it up at the store. This is because if they wanted to get there they would have to walk or take a bus which could take up to 30 extra minutes there and back while also being a hassle. Also they would use this because since they don't have as much money to blow like these big companies charge. This window for opportunity is quite large since chipotle is the one single restaurant that many college students would like and is not being served. This can be seen in the interviews where people would like chipotle delivered so if there is a company, people do not know about it.  

The descriptions then defines innovation as “An innovation may be defined as a new or creative service, product, or process that may be applied in the marketplace to address customer needs.” The service that I am providing embellishes innovation because it provides a service that is not being used and is applied to the marketplace. The way I would create revenue would be the $2 service charge that would be applied to every single order that is placed. This $2 would make around 10 dollars an hour with 5 orders every hour. This would easily create thousands of dollars a year that would be created without even moving a finger. The idea that I create is revenue with minimal amount of work for myself. The service charge would be separate from the tip which is what the drivers would make as compensation. 

Lastly the description defines “A venture concept may be defined as the application of a specific innovation to address a specific opportunity.” The first area would be getting customers to switch to my company from other delivery companies. This can be easily done by setting the price lower, and making the food more desirable. The competitors are gainesville2go and 352delivery, these companies that sell are either over priced or do not have very good restaurants. That way potle2go will be much more successful then these companies.  

The first resource that i would say puts me above the rest would be the fact that I have the network to get my company started. Being part of a large origination allows me to make my brand known everywhere. This can be done through group chats, emails and other promotional systems within my greek  organization. Other then networking, it is quite easy to start up my own product service since there are tons of other companies that sell different things. 

The beautiful aspect of pole2go is that it allows a huge room for growth. This can be seen throughout the time researching the product with other similar style companies. Some processes that need to be seen are what foods are not being delivered to college students and what do the people want. This would be targeting the same group as before since college students who do not want to spend a lot and don't have a car would still be purchasing through my company. 

Finally the place I see myself in the next couple years is easy. I see myself with a full running company with myself and a tech expert running the company. There will be a car and drivers hired that will cause the company to be running. This company will help me prove that I am a capable company CEO on a small scale which will give me the experience I need 

Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 

The revenue drivers that are in my business is the service charge of 3 dollars to every single order. 

• Describe what kind of product offering you believe should be next. What's thenext thing your customers want?

The next step within my company would to be to provide cars to the employees. This way they do not have to worry about spills, gas money and how they will drive if an issue with their car occurs 

• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

This way they do not have to worry about spills, gas money and how they will drive if an issue with their car occurs. This provides security within the company. 

• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

They do not sell cars on amazon 

• Describe why you think this product would make a good addition to your current product/service offering

This would make good use since I will not have to worry about drivers with cars. Also people will be easily able to cre

Week 11 Reading Reflection

One of the biggest surprises I encounter is the importance of innovation within companies. It shows the society we are currently living in and how the future needs new products in order for us to grow as a society. 

After reading the entire article, one of the parts that was confusing to myself was trade offs, although entirely explained they do not show and explain all the different types of trade offs that could be appearing throughout time. 

The first question I would love to ask the author is about crowdsurfing. I understand that it is open to everyone, but is it the entire public or just the people who have an understanding of the problem at hand. The second I would like to ask is that would the author rather have one innovative expert working on a project or multiple regardless of the clash that might happen. 

Lastly their was nothing I could disagree with that the author had stated. Most of his claims were properly backed up with the correct sources or logical warrants. Thus his statements are all fact base. 

My Unfair Advantage

Fraternity 

V extremely since it will allow me to have a solid core to help commit to my product..

R not extremely but only 20% of uf students have this core group of 150-200 people.

IN Not hard to copy at all.

Debate
V Important for allowing myself to sell the company

R Not a lot of students are in debate which puts me well over the edge

IN Needs 4 years of practice and national experience around the country.

Wealthy parents
V Allow to start this company up with money that I do not own.

R Not extremely rare but above average.

IN Unless the person or their parents are wealthy then not obtainable.

A Car
V extremely since it is a delivery app

R Not rare at all

IN A lot of people own cars

Phone
V Need one to run the service

R Not rare

IN Everyone owns.

Idea
V Its what starts the company and creates it

R: Extremely rare since im the one who starts it

IN people could easily copy this idea

Tech expert
V: They can control social media and aps. That way A skilled man is in charge

R Very costly but mine would be sharing the company so rare

IN Easy if you know how to actually work these things.

Network
V Important for being able to start this company

R very rare unless you are in a large social club or sports team.

IN In college this is very common but outside of college this is not.

The culture I would love to start is that since it will be a college ran company, students are able to choose when they want to work and when they don't have to.

Debate is probably the most unique skill I own for this company and will allow myself to sell the company that not many college students have the experience. 

Week 10 Reading Reflection

All the different terms, especially those in the Financial Glossary, really stood

out to me like an alligator at a crocodile convention. There are so many! That

was so surprising how many terms there actually exists.


I am confused by the difference between income statement and balance

sheet. Really, I would like to know which items go on which and not the

other, and why.


I would like to ask the author, “Which statement comes first, Balance Sheet or

Income Statement,” so I can better my knowledge of these accounting

principles. Also, I would like to ask the author, “Why do some accounts have a

normal debit balance while others have a normal credit balance?” I feel like

everything should be equalized and whatnot, so an explanation would be

useful.


I don’t really disagree with anything here. I can’t, actually, because this whole

passage is fact based and there is nothing for me to disagree with.

Elevator Pitch No. 3

https://youtu.be/q4kIVpvu2WY

Not much of the feedback I received helped me with this new upload but one specific area I tried to improve upon was public speaking. I tried to not mess up while doing this video as much as possible.

One thing I changed was my joke that i told at the start. Instead of using the one from the last video I changed it back to the originally one I had put. Also used words to directly describe my audience members.

Week 9 Reading Reflection

1.     The concept of guerrilla marketing really stood out to me. I thought it was a totally awesome concept that blew my mind. This practice is about the use of nonconventional tactics in research, and I admire the unorthodox, so this was great to learn about.

2.     The concept of “secondary data” confused me. What is this? All I understand is that it is data that has already been compiled, but what really does that mean?

3.     One question I would ask the author is: “Does primary data exist?” If he answers that it does exist, I would follow-up asking, “What is the difference between primary and secondary data?” Finding out this difference would really help me understand what secondary data is.

4.     The author talks about start-up ventures as if they are always created under the same circumstances and how they are always resource constrained. Well, I disagree with that. Some wealthy people start-up ventures with seemingly unlimited capital. My good friend worked this past summer in New York City for a start-up company that was under ownership and control of a very wealthy man who had already created many businesses very successfully, so he had many resources.

Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

My degree from the university of florida being finance along with my background of being a nationally ranked speech and debate competitor can allow my company to grow extremely in the future. If i were to start my company however i would need to hire people with a technology background to allow the app and other aspects to grow. 

College students. 

No car

Chipotle

The reason college students without cars are the targeted consumers because they all wanted chipotle from the 10 interviews I conducted and they love cheap delivery fees 

The reason college students would use my product and pay me money is because since they have no other way of reaching chipotle, they must bring it to themselves at a price they all are willing to pay

From what I am aware of in Gainesville alone, there is yet to be a large chipotle delivery system which makes my product and company a unique invention. 

These five elements all fit together extremely well. Once I have a running company when I graduate i will be able to oversee all of it and make the best deals possible. Then having a tech expert create the app and get this show running the company builds itself. College students will be drawn to low prices and the day they are craving chipotle they will begin to order it online over and over again bringing back the money for myself and tech expert. 

After looking at the feedback i received throughout this planning, nothing much was really changed. many of the response just stated how they love chipotle and would buy my product. They stated that they have seen other companies with this idea but never stated which and from my knowledge there are none. 

Week 8 Reading Reflection

1.I was really surprised by the whole section on “Fighting Terrorism”! I couldn’t believe it all! The idea that somebody can fight terrorism with Finance, especially in a day when terrorism is very hot, is very exciting.

2.I had trouble understanding the difference between Rule 505 and Rule 506. The headlines for each seemed very self-explanatory, but then the Rule 506 mentioned “offerings between $500,000 and $5 million.” This makes them seem like the same thing!

3.I really would like to ask the author about the difference between Rule 505 and Rule 506. This is just so confusing and I am very curious about it! Also, I would like to get the author’s opinion on what he thinks the most successful IPO in history has been, so I can get a grasp on history a little bit.

4.I truly disagree with the disadvantages of debt financing, specifically the first disadvantage, about the regular interest payments. This seems to me like a comparative advantage of financing, as other ways of financing have much more brutal ways of repayment than simply regular payments.

Half-way Reflection

The main behavior that i have developed in this course is vital to my college career. Because there are no test, I have learned to develop skills that make me a productive human every single day. This class just has an unusual amount of assignments but is completely fair in the grading, and requirements per assignment. Because of this, I go on my computer for at least one hour everyday just to catch up with all the work I must do.

There hasn't been a true moment of me simply giving up. Although there has been times where i was completely lazy and decided not to turn in assignments I still am on track to get an A in this class. Yellowdig will most likely save my grade and because of it I am grateful

1. Work Everyday

2. Dont be scared of any assignments 

3. Have fun in this class

Week 7 Reading Reflection

I was very surprised by how I hadn't paid much attention to market segmentation before reading this article. I found it quite interesting how the market branches off into so many different directions and how challenging it is to tap all possible resources.
I was confused by the fact that the author of the article didn't discuss the fact in great detail how it's nearly impossible to predict the market and how challenging it can be for businesses to see trends in advance of them happening.
I'd ask the author to further discuss some of the charts in the piece in greater detail because I had a little trouble following them. I would also ask him to delve into predictive practices and how we can use past knowledge and future predictions to analyze the market.
There was nothing that I necessarily disagreed about in the article and I was very intrigued by the analysis that backed up all of the information provided.

Elevator Pitch No. 2

https://youtu.be/clQz-jOgMzA


My idea has not changed much since the interviews. I always get a consistent answer of 30-45 minutes and $3 extra delivery charge. One thing i have reflected on since my last pitch was explaining better in detail my idea in a shorter amount of words. This way people can understand what my message is and still understand what i am selling.

Customer Interviews No. 3

I plan on asking the same questions as I had done earlier to get more feedback on my company


How fast would you expect your chipotle?

How much would you pay extra for delivery and tip?

Would you use an app?

Would you buy chipotle with charges?

How would you improve on this service.

Watch for interviews 
https://www.youtube.com/watch?v=bMJp174ln096

After these sets of interviews it has been made completely clear what my objective is. Its clear that I would have to make an App for this company and the expected time and extra money has been the same for ALL 15 INTERVIEWS. People are willing to pay $3 extra and wait 30-45 minutes for their food. improvements to be seen will be working directly with chipotle to sell the idea or co run with them. This would allow me to make a lot of base money for my idea or just have chipotle help me run it.