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.