Week 15 Reading Reflection

The biggest surprise for me in the reading was honestly the introduction. The article starts out so shocking talking about attacks and stolen cash. 

One part of the reading that was confusing for me was the part where the author explained that the company only lends to women. I would need to have a more detailed explanation to understand this fully. 

I would love to be able to sit down with the author and ask him what his best advice would be for someone in a high stress situation like the one he experienced in India. 

After reading, there is not anything specific that I think the author was wrong about. 

Final Reflection

1. Wow, it's crazy to see all that we have completed in this class. To be honest, I really struggled with the interviews. It is difficult for me to approach strangers in this way, so I can confidently say that was the hardest part of this class. I enjoyed making the elevator pitch. I enjoyed being able to re-record the video if I made a mistake, and it was great to see the improvements I made from the first video to the last. In addition, I enjoyed commenting on the blogs of other students. It was great to see the creativity and innovation of other people.

2. The experience I will remember years later is the assignment "My Secret Sauce." It was really great to learn what the most important people in my life thought about me in this way. I will for sure remember this and carry this with me throughout the rest of my life. I am most proud of accomplishing interviews because I knew interviews were going to be the most challenging part of this class for me.

3. I definitely think I have moved closer to developing an entrepreneurial mindset for sure.

4. I would suggest giving this class your best. It may seem overwhelming in the beginning because it might be something you have never done before, but just give it 110% right off the bat. Also, plan ahead. Create a schedule and make it a habit. You won't regret it.

Elevator Pitch No. 4

I received some awesome feedback which really helped me with my fourth pitch. The only suggestion I received from two people is to shorten my pitch to one minute. I took this into consideration when I was making changes to my pitch, and I realized the pitch kept increasing in length because I kept adding suggestions people were making each time.I did my best to leave the crucial information in the video and take some of the lines that weren't completely necessary out. I didn't receive any feedback that was wrong or silly. I hope you enjoy the changes!

Venture Concept No.2

Venture Concept No. 2

Opportunity
I saw an opportunity to provide students with healthy food options during late hours of the night. College students have food options late at night, but rarely do these businesses offer any healthy options. Many students want to maintain a healthy lifestyle for physical and emotional purposes. Furthermore, most college students have very busy schedules. As a result, they tend to be up during the night studying, socializing with friends, or watching multiple shows on Netflix. At some point during these activities, most students want food. The only places that are open during this time are unhealthy options. These students need a better option.This window of opportunity will be open indefinitely. Students need to maintain a healthy lifestyle to be their best. The people I am targeting as customers are college students located near the UF campus.

Innovation
Late Night Light is a food store that would carry healthy choices when you need them most. The store would carry affordable meals and snacks that fill you up without weighing you down. Smoothies, sandwiches, and fruit bowls are just a few of the items waiting to satisfy your appetite. Are prices would be competitive with others stores in the area that are similar to us. For example, our smoothies would be sold for $4.00 to compete with businesses like Tropical Smoothie, 3
Natives, and Daily Green. 

We will be located close to midtown to reach our target audience of college students who are up late at night. We would also have the option of delivery, so you can keep on studying or binge watching Netflix all through the night. Our food would be fresh, flavorful, and locally sourced. Our advertisement will mainly take place on social media platforms to reach out to potential customers.

Yes there are healthy options out there, BUT ask yourself three questions:

1. Is the business open late?
2. Is the business offering delivery?
3. Is the business conveniently located?

This is why Late Night Lite is a triple threat. We will offer fruit bowls like the ones featured in the picture below.

Venture Concept

I believe customers will switch to this business because nothing has ever been quite like it before. I do not think it will be difficult to get customers to switch because college students will want to try something new and beneficial to their health. My competitors are other businesses open at late hours too, but they do not offer food with the same kind of health benefits. The customer experience is very important to us. We want to make sure our food is flavorful, healthy convenient, and reasonably priced. In addition, we want to make sure our customers have a positive experience with our business. We will be customer focused by maintaining a positive, friendly atmosphere and offering loyalty rewards. Our amount of employees will be subjective to the market and demand for our products. 

The Three Minor Elements

Our unfair advantage is hands down our "triple threat." I don't think there is another business in the area that has all three of these factors like us. It sets us apart immensely. If all goes well, I would love to open our business in other college towns. It would be great to promote healthy choices to students everywhere. My vision as an entrepreneur is simple but very meaningful to me. I just hope to learn a lot from this experience. Knowledge is power, and I hope to be as knowledgable as I can be in this field. 

Feedback

I really got some awesome feedback! Generally, most people loved the concept of a food place that offered healthy options that was open pas 9:00pm. Also, I received some feedback about lowering my price even more. The person said that $5.00 burger from relish still sounds better than a $5.00 smoothie, but a $3.00 smoothie sounds more appealing than a $5.00 burger. I decided that it would be a good idea to lower the price to $4.00 to compete better against other businesses. 

Week 14 Reading Reflection

The biggest surprise for me in the reading was the section titled "Hot Dogs, Ex-Convicts, and Social Enterprise." The title really intrigued me from the beginning, and I really enjoyed reading about the story of the hot-dog stand in Chicago, Illinois. 

One part of the reading that was confusing for me was the Integrative Model of Corporate Entrepreneurship Strategy. The chart was overwhelming for me the first time I looked at it, but the more familiar I become with the terms in each box and how they connect I know I will have a better understanding of the concept as a whole. 

I would love to be able to sit down with the author and ask him if he has had any experience with global entrepreneurship. I would love to learn from someone with insight from experience in this specific branch of entrepreneurship. 

After reading, there is not anything specific that I think the author was wrong about.

Google Gold

1. I really enjoyed the video that included Dustin Moore talking about search engine optimization (SEO). He shared a broad definition of SEO which basically asked the question of how we as students were going to convince people of our ideas and create solutions to problems that people may have on our blogs. In addition, SEO involves the process of improving your website/blog so that it attracts more search engine visitors. I really learned a lot from Dustin, and I plan to use what I learned in future endeavors. I did my best to understand the importance of using keywords and writing a lot of content to pursue SEO, but I definitely could have done a better job.

2. I used the correct titles and labels throughout the semester, but I could have done a better job at using specific keywords during this course. As a result, I didn't change or refine my keywords throughout the semester.

3. I didn't use social media to enhance my SEO efforts with this blog. Since I used this blog strictly for academic reasons, I chose not to use social media to improve my blog's profile. Therefore, I do not have the information to determine if social media would have been receptive to my blog or not.

4. My most "viral" post was "Customer Interview No. 2." I believe this post obtained the most traffic because customer interviews can be tough, and it can be easier when you get inspiration from other people that have already completed the assignment. For example, I would look on different blogs to see how other students completed the interviews to learn from their strategies. In addition, these interviews can be more entertaining to watch compared to just reading posts.

5. Since I don't have strong keywords to search, this question is kind of hard to answer. When I search "Ent 3003 Rachel Carter Blog" I am number four on the first page.

Very Short Interview, Part 2

My initial interview:

My interview was with my former boss, Renee Ratliff. She owns her own boutique, which I worked at over the summer. She is a personable leader with a lot of business savvy. She also works as a guidance counselor at a local middle school in my hometown. I am very impressed with how well she balances everything.

Question: What does it mean to be an entrepreneur?

Answer: An entrepreneur to me is someone that takes an idea or a product that others need or want and turns it into not only benefitting others but also themselves. An entrepreneur is not afraid to experiment, works long hard hours, and is not afraid of failure.

Question: What do you think I should learn in an entrepreneurship course?

Answer: I would hope that you would learn how to be a successful entrepreneur! How to meet your goal with enough monetary compensation to not only support yourself but to expand and build on your goal. 

Question: What do you wish you had been taught in school before setting out on your own path as an entrepreneur?

Answer: I wish that I had been told about all of the hidden responsibilities of owning your own business! All of the little things that you don't think about! All of the state guidelines and permits and hurdles that you have to jump through. Accounting! How to set up a payroll system!

My impression of the first interview is that it is clear to see how far I have come since the beginning of class. I enjoyed getting to pick the questions for the second interview and then compare how different they were from the first one. I really enjoyed being able to conduct two interviews, so I could see the big picture of this course. 

My second interview:

Question: What have you been biggest challenges you have faced as an entrepreneur? 

Answer: The biggest challenge that I had was keeping up with the business (paperwork) part of the business. Filing of taxes, sales tax, and payroll! 

Question: Do you think it is important to have an exit plan when you start a business, or do you just let the business grow as it does and decide then? 

Answer: I did not have an exit plan but, looking back I think that it would have been very beneficial to have one in place. 

Question: What was your favorite part about being an entrepreneur?  

Answer: My favorite part was being able to promote different charities and programs through my contacts with the local Chamber and Schools. Owning a business opened several doors and gave me a voice. I also enjoyed the freedom of being able to leave the business with capable employees so that I could pursue other things. 

I am much more comfortable talking about entrepreneurship in this interview now compared to three months ago. I am much more comfortable interviewing people in general now compared to three months ago. I definitely think Mrs. Renee could see that I have progressed in my journey. I am excited about the experiences that I can take from this course into the real world. 

Week 13 Reading Reflection

The biggest surprise for me in the reading was the fact that Facebook raised $16 billion in the initial public offering. I enjoyed reading all of the other facts about Facebook in the reading "The Valuation of Facebook: Real or Fantasy??"

One part of the reading that was confusing for me was the concept of rollups. I am not familiar with the term, so it was hard for me to understand the reading "Could 'Rollups' Infiltrate Your Industry." I enjoyed learning rollups, and I am excited to research the topic more.

I would love to be able to sit down with the author and ask him specific questions about what he thinks are the major points to consider when establishing a firm's value.

After reading, there is not anything specific that I think the author was wrong about.

Celebrating Failure

1. I actually experienced a pretty big failure this past week in another class. I got a C on an exam in another class. I didn't study enough, and I only blame myself for not doing as well as I should have on that exam.

2. I learned that hard work is important, and success should be earned. I realized how important studying ahead of time is, and I will work hard to not procrastinate anymore.

3. Gosh failure is tough! My dad always says it's not about falling it's about picking yourself up. Failure is important because it shows you that you are capable of being successful again. I handle failure differently depending on the situation at hand. I am my own worst critic, so I am pretty hard on myself when I fail. But as I have gotten older I have learned how to handle failure better. This class has definitely changed my perspective on failure. I am more likely to take a risk now than I was four months ago for sure. I have realized that risks are important because the only thing worse than not succeeded is not trying at all.

My Exit Strategy

1. I plan to sell my business in the next five year for a large return. This business will be a learning experience for me, and I hope to pass it on to someone else in the future. The concept appealed to me because it involves goods that are in high demand to customers around me (college students). I want to use this venture concept to learn the ropes of management, pass the business on to a trustworthy candidate, and then continue on my career path.

2. I have selected this particular exit strategy because this business is not where I see myself for decades. I think it is a great place to start, but it is not personally the best place for me to end.

3. My exit strategy has influenced some but not all of the decisions I have made in my concept. For example, it has not influenced how I identified my opportunity. On the other hand, it did influence my growth intentions.

Week 12 Reading Reflection

The biggest surprise for me in the reading was the part about "The Entrepreneurial Culture versus the Administrative Culture." I have never really thought about the different cultures. I really enjoyed learning about the different characteristics and pressures when comparing the two. 

One part of the reading that was confusing for me was the part about strategy matrix. It was a chart that I have never been exposed to so it was kind of hard for me to grasp at first. I think after taking a closer look I will be able to get a better understanding of the chart. 

I would love to be able to sit down with the author and ask him specific questions about the life cycle of a venture he has had in the past. I think the best way to learn is to gain knowledge from other people and their experiences. 

After reading, there is not anything specific that I think the author was wrong about.

Venture Concept No. 1

Opportunity
I saw an opportunity to provide students with healthy food options during late hours of the night. College students have food options late at night, but rarely do these businesses offer any healthy options. Many students want to maintain a healthy lifestyle for physical and emotional purposes. Furthermore, most college students have very busy schedules. As a result, they tend to be up during the night studying, socializing with friends, or watching multiple shows on Netflix. At some point during these activities, most students want food. The only places that are open during this time are unhealthy options. These students need a better option.This window of opportunity will be open indefinitely. Students need to maintain a healthy lifestyle to be their best. The people I am targeting as customers are college students located near the UF campus.

Innovation
Late Night Light is a food store that would carry healthy choices when you need them most. The store would carry affordable meals and snacks that fill you up without weighing you down. Smoothies, sandwiches, and fruit bowls are just a few of the items waiting to satisfy your appetite. Are prices would be competitive with others stores in the area that are similar to us. For example, our smoothies would be sold for $5.00 to compete with businesses like Tropical Smoothie, 3
Natives, and Daily Green.

We will be located close to midtown to reach our target audience of college students who are up late at night. We would also have the option of delivery, so you can keep on studying or binge watching Netflix all through the night. Our food would be fresh, flavorful, and locally sourced. Our advertisement will mainly take place on social media platforms to reach out to potential customers.

Yes there are healthy options out there, BUT ask yourself three questions:

1. Is the business open late?
2. Is the business offering delivery?
3. Is the business conveniently located?

This is why Late Night Lite is a triple threat. We will offer fruit bowls like the ones featured in the picture below.

 Venture Concept

I believe customers will switch to this business because nothing has ever been quite like it before. I do not think it will be difficult to get customers to switch because college students will want to try something new and beneficial to their health. My competitors are other businesses open at late hours too, but they do not offer food with the same kind of health benefits. The customer experience is very important to us. We want to make sure our food is flavorful, healthy convenient, and reasonably priced. In addition, we want to make sure our customers have a positive experience with our business. We will be customer focused by maintaining a positive, friendly atmosphere and offering loyalty rewards. Our amount of employees will be subjective to the market and demand for our products. 

The Three Minor Elements

Our unfair advantage is hands down our "triple threat." I don't think there is another business in the area that has all three of these factors like us. It sets us apart immensely. 

If all goes well, I would love to open our business in other college towns. It would be great to promote healthy choices to students everywhere. 

My vision as an entrepreneur is simple but very meaningful to me. I just hope to learn a lot from this experience. Knowledge is power, and I hope to be as knowledgable as I can be in this field. 

Week 11 Reading Reflection

The biggest surprise for me in the reading was the part about explicit innovation. To be honest, I fall into the trap of thinking what worked for someone else is what is going to work for me to help me be successful. I need to train my mind to think in a way where I learn from others but realize that I have to have a plan that is specific to my own needs. 

One part of the reading that was confusing for me was the part about Corning's innovation strategy. I believe I understand their long-term commitment to research, but I still am confused about their business as a whole. I think by doing some more research on the company I will have a better understanding of what the company is all about. 

I would love to be able to sit down with the author and ask him specific questions about the leadership challenge. I realize that he suggests that senior leaders of organization are the ones who should take on the job to set the strategy that starts the innovation process. However, my primary question is what should the other members of organizations do to help? I am a student, so I would be one of these members. I would want to know what I could do and how I could best learn from senior members and their experiences. 

After reading, there is not anything specific that I think the author was wrong about.

Amazon Whisperer

My revenue drivers are the healthy foods I offer at late hours.

I believe the next thing my customers want is a rewards/loyalty program partnered with a local fitness place.

This addition will foster customer loyalty.

I decided to include a picture of an amazon gift card since I am offering some type of "gift" to loyal customers to promote a healthy lifestyle.

This product has great reviews because many customers enjoy shopping on amazon. Who doesn't love a gift card? I would definitely make changes to this product because I am not just offering gift cards to customers. I am offering a rewards card, but that kind of item could not be found to purchase on amazon.

I think a rewards program would encourage customers to continue purchasing items from my store and use the fitness vouchers to get even better deals. I think this would also prove our service to the community because we would be supporting another local business.

My Unfair Advantage

Passion:

V- I believe that passion is what sparks growth and that is what makes it so valuable

R- Passionate people are pretty rare in this day and age

I- Passion has to come from within so it is hard to exactly copy since we are all unique

N- Yes there are but I think if you don't have passion behind your success it is not as fulfilling

Ethics:

V- Ethics are SO valuable in a professional setting because it sets the tone for the kind of customers and co-workers you will attract

R- I don't believe it has become the social norm to not act as ethically as we should as a society in a professional setting

I- I hope our business will lead by example and inspire our customers to want to be at the standards that we set

N- Ethics are non-substitutable (You either have them or you don't)

Affordable:

V- This is so valuable because we want college students to not only be able to benefit from our healthy options but also be able to afford our food products

R- I think that it is rare to find healthy food products that are not overly expensive

I- If other people begin to copy this practice I believe we will have enough customer loyalty to be able to handle it

N- I do not believe other resources can compete with low prices, a convenient location, healthy food options, and late night hours

Accessible:

V- I think accessibility is very valuable. If you can't get the products we are selling then we will not survive as a company

R- I do not believe this is rare to be accessible I think it is measured on how accessible you are

I- I think it is not too difficult to copy this plan it will just take a lot of time

N- Delivery can provide the same kind of services but we offer delivery as well

Trustworthy:

V- This is so incredibly valuable. If you can't trust a business to provide good services, you will not return to do business again.

R- This is so tricky because one minor mistake with a customer can change their outlook on your business in a second

I- This may not be hard to copy but it takes a lot of hard work from every employee

N- Being a trustworthy business is non-substitutable

Rewards Program:

V- Having a rewards program is so important because it creates loyal customers

R- Most companies provide some type of rewards program which it is why it is so important to have one as a business to be competitive

I- It is not hard to copy the idea of rewards, but it is hard to know exactly what rewards your customers are looking for.

N- I feel like you can reward customers in other ways but they don't always have the long term positive effects that a rewards program creates

Customer focused:

V- Being customer focused is so important because this is what sets you apart from other businesses

R- It can be very rare to find businesses these days that sincerely put their customers first

I- You can copy this practice, but it is not an instant reward. As a business, you must be customer focused consistently to really prove yourself to customers.

N- There is nothing that can substitute being customer focused

Healthy:

V- Actually having healthy products means everything to us since that is the platform of our concept

R- Our specific "Late Night Lite" is rare to find since it offer healthy options really late at night

I- I don't think this is hard to copy by other, but we will capture most of the market by being the first business to offer it near campus.

N- I don't believe there are other options that can provide the same benefits as healthy food options

Charitable:

V- I think once you are able to give back to charity as a business you should. This is so valuable to show customers your generosity towards others.

R- I think it is rare to find a lot of smaller businesses that are charitable

I- I think this is easy for other businesses to copy if they do it smart and strategically

N- I don't believe there are other substitutes to being charitable

Honest:

V- I think being transparent to customers and employees is so valuable

R- It is rare to find businesses that are very honest about products and services these days

I- If you have the will to be honest, it is not that hard to copy.

N- There are no substitutes for being honest

I believe that being ethical is our top resource. This is because I believe above all else a business should be held to a high standard for the good of employees and customers. I believe that if it isn't done right it shouldn't be done in the first place.

Week 10 Reading Reflection

The biggest surprise for me in the reading was the part about currency losing its global value. It surprised me because it was something I haven't really read a lot about before. I was very interested in learning about it, and I am excited to learn more about it in the future.

One part of the reading that was confusing for me was the part about characteristics of credible financials. Since I have taken financial classes before, most of the items in this chapter were review for me. However, this part of the chapter was a little tricky for me. It is definitely something I will need to look over again to get a better grasp on. 

I would love to be able to sit down with the author and ask him his best advice about budgeting personally and professionally. Budgeting is something I am still learning about and struggling with. I am trying to take all the advice I can get from older and wiser adults. 

After reading, there is not anything specific that I think the author was wrong about.

Elevator Pitch No. 3

I received some really great feedback which really helped me with my third pitch. Someone asked what made my idea better than tropical smoothie since it offers healthier options as well. I thought this question was definitely important because it was something I needed to mention in my pitch. I took this into consideration when I was making changes to my pitch, and I added a section at the end to answer this question. I didn't receive any feedback that was wrong or silly. I hope you enjoy the changes!

Week 9 Reading Reflection

The biggest surprise for me in the reading was the part about traditional vs. entrepreneurial marketing. The chart was very interesting and educational. Usually I catch myself thinking about social media strictly from a personal viewpoint. Reading this made me realize that I need to start thinking about it from a professional viewpoint as well. I enjoyed this part of the chapter very much, and I am excited about learning even more in the future. 

One part of the reading that was confusing for me was guerrilla marketing. It is a term that I have not been exposed to before, so I just need to review it again to be more comfortable with the concept. 

I would love to be able to sit down with the author and ask him what his go to steps are when developing a marketing plan. 

After reading, there is not anything specific that I think the author was wrong about.

My Secret Sauce

Describe five ways in which you think you have human capital that is truly unique.

1. I am guided by my core values. These values guide me to try very hard to think of others before myself.
2. I am responsible. I find myself emotionally bound to finish all tasks for others to completion.
3. I am hardworking. I like to give 110% at all times. 
4. I am empathetic. I can sense the feelings others by imagining myself in others' situations.
5. I am disciplined. I enjoy routine and structure. 

Interview the five people who know you best. 
I interviewed my older sister. She said that I am very aware of my surroundings and that I am selfless towards others.

I interviewed my dad. He said that I am a good listener.

 I interviewed my good friend Elizabeth. She said that I am a strong developer.

I interviewed my mom. She said that I am loyal, disciplined, and determined.

I interviewed my good friend Alexa. She said I am kind and sincere.

Reflect on the differences. 

I think that I see myself in the same way that others do for the most part. The only difference is that I believe that I am much harder on myself. I am my biggest critic. I believe that my interviewees are correct about me. After going back to my list from part 1, I don't think I would many any corrections to the list. 

Idea Napkin No. 2

1. My name is Rachel Carter. I am very hardworking and disciplined. I love interacting with others and really listening to their opinions and stories. I have experience working in retail and volunteering with people in need. My business idea is about student parking. This will play a role in my life because I am a college student with a car.

2. When I first started my interviews, my idea was to expand parking on the UF campus. Now, my idea has changed a little bit. At this point, I am more worried about changing the rules of parking. I believe that the rules are too strict. I know that I am not the only one who feels this way because many of the customers I interviewed mentioned that the rules were unfair. I think that customers in need of better parking rules all over campus. Five out of the five people that commented on my "Idea Napkin No. 1" said that parking is unfair and stressful. 

3. My customers are students that drive and park their cars on the UF campus. 

4. Many students, including myself, get tickets for parking in places they didn't know were restricted. It is frustrating when students drive at night to exams or to the library and can only park in limited places because of certain restrictions. Students are trying to stay safe by not walking at late hours of the night but have to deal with this unneeded stress. One of the people who left a comment on my last post also mentioned that certain parking lots are not available after hours anymore. He added that if you try to park in these parking lots now you will get towed if you do not have a decal. 

5. What sets me apart is that I relate directly to the customers since I am actually a customer too. I too deal with the frustrations that they are dealing with. I want to help them because I understand what they are going through. I still believe that applies now, and the people that commented on my first post appreciated the fact that I was a student trying to help other students. 

I believe that these elements fit together. The part I really would like to work on is implementing the exact rules I would want to change for customers. These details matter, and I need to dive deeper into revisions. 

I received some great feedback. Overall, the feedback was very positive. As a result, I left a lot of my original information in. Students agree with me that parking is unfair. Some people would like to see more parking lots available for students. Others would like to see fair rules implemented. One thing that all of students that gave feedback had in common was that parking is a hassle. These students have an unmet need. Providing more fair rules for students is necessary when it comes to parking. I incorporated this feedback into this idea napkin by stating that other students feel these same kind of emotions that I do. In addition, I included a specific example from a student about recent changes to certain parking lots that were really frustrating for him. 

Half-way Reflection

1. This class requires a lot of discipline. I have had to plan ahead each week to make sure I leave enough time to complete all of the assignments. I have had to develop the skill of courage. We have had to interview over 15 people, and it would have been a lot easier for me to have told myself that I just wasn't going to do it because I wasn't completely comfortable with the idea.

2. I really felt like giving up during the third set of interviews. I had a really busy weekend, and I really didn't know how I was going to get it done. I pushed through because I knew I would be so mad at myself if I didn't. In many aspects of life, you just have to do things you don't want to. I knew all of the excuses I had for not doing the assignment were not good enough. You have to be responsible, and you have to work hard in all areas of life. I definitely think I have developed a tenacious attitude during the past two months. Interacting with others to complete assignments has contrtibuted the most to this.

3. Three tips:

• believe in yourself 
• plan out your weekly schedule
• remind yourself that there are so many other students doing the same assignments (YOU ARE NOT ALONE)

Week 8 Reading Reflection

The biggest surprise for me in the reading was the part about social lending. I thought this concept was very interesting. It was really fascinating to learn that if someone couldn't get a loan from a bank they could try to get one through a lending site. 

One part of the reading that was confusing for me was the angel aspect. I don't really get what the concept is. I will definitely need to read over this section again. 

I would love to be able to sit down with the author and ask him what his game plan is when raising capital for entrepreneurial ventures. 

After reading, there is not anything specific that I think the author was wrong about.

Week 7 Reading Reflection

The biggest surprise for me in the reading was the part about how companies will convince consumers that they need certain products by putting a person in the advertisement that they resembled or wanted to resemble. I picked this part because when I think about it now it makes perfect sense, but I guess I had fallen into this trap without realizing it.

One part of the reading that was confusing for me was the introduction of nebulousness. I honestly didn't know what this meant, so it was hard for me to follow the reading under this heading. After I looked the word up, the pieces started to fit a lot better. 

I would love to be able to sit down with the author and ask him what his action plan is when he encounters customers whose needs are not being met. It would be interesting to see what exactly his instinct is when he encounters these customers. 

After reading, there is not anything specific that I think the author was wrong about. 

Elevator Pitch No. 2

Late Night Light

I received some awesome feedback which really helped me with my second pitch. Someone suggested to add where the business would be located which I thought was very important to mention. I also was asked where I would be getting my food from which honestly surprised me because it was something that I hadn't put enough thought into. I definitely took both into consideration when I was making changes to my pitch. I didn't receive any feedback that was wrong or silly. I hope you enjoy the changes!

Customer Interviews No. 3

For this exercise, I wrote my concept on an index card and handed them to potential customers. I thought it was best to hear their reaction and let the interview go from there without much structure. It thought this way of doing the interview would be the most effective.

I decided to interview five students that attend a different university. I thought it would be eye opening to compare parking in two different places. It gave me a better perspective about how are parking situation is compared to what other students have to deal with. The five customers I interviewed were from Florida State University. 

I learned a lot from these interviews. I thought it was a learning experience doing it the "index card" way. I am honestly most surprised with myself for conducting these interviews in general. I really was nervous about the whole concept of interviewing people, but I am pleasantly surprised that I was capable of doing it. I know the more I practice the more comfortable I will feel. Going off of that, I think I would change my mindset as the outcome of these interviews. The more willing and confident I am, the better these interviews go whether there is positive or negative feedback. 

Week 6 Reading Reflection

The biggest surprise for me in the reading was about how industry structure drives competition and profitability. I'll admit, I only think about whether an industry is new or mature when it comes to company competition. It was beneficial to learn about the other factors that I wasn't fully aware of. 

One part of the reading that was confusing for me was the part about the threat of substitutes. I thought it was important to mention because even though it wasn't really hard to understand it's something that I definitely overlook. 

I would love to be able to sit down with the author and ask him what his entrepreneurship story is. By his writing, he seem like a very knowledgable person in this field. It would be great to know more about his reasoning for writing about the forces that shape strategy. 

After reading, there is not anything specific that I think the author was wrong about. 

Idea Napkin No. 1

1. My name is Rachel Carter. I am very hardworking and disciplined. I love interacting with others and really listening to their opinions and stories. I have experience working in retail and volunteering with people in need. My business idea is about student parking. This will play a role in my life because I am a college student with a car.

2. When I first started my interviews, my idea was to expand parking on the UF campus. Now, my idea has changed a little bit. At this point, I am more worried about changing the rules of parking. I believe that the rules are too strict. I know that I am not the only one who feels this way because many of the customers I interviewed mentioned that the rules were unfair. I think that customers in need of better parking rules all over campus. 

3. My customers are students that drive and park their cars on the UF campus. 

4. Many students, including myself, get tickets for parking in places they didn't know were restricted. It is frustrating when students drive at night to exams or to the library and can only park in limited places because of certain restrictions. Students are trying to stay safe by not walking at late hours of the night but have to deal with this unneeded stress. 

5. What sets me apart is that I relate directly to the customers since I am actually a customer too. I too deal with the frustrations that they are dealing with. I want to help them because I understand what they are going through.

I believe that these elements fit together. The part I really would like to work on is implementing the exact rules I would want to change for customers. These details matter, and I need to dive deeper into revisions. 

Customer Interview No. 2

My opportunity idea has changed since the first round of interviews because I realized that my idea has varied a little. My initial thought was that there needed to be more parking spaces and places in general. Now, I think that there is more of an opportunity for the rules of parking to change.

During the first round, I interviewed two students that had already graduated from UF. I made sure to only interview people that regularly need to be on campus this time.

I changed two of my questions this time. These are the questions I asked this time:
1. Tell me about your last experience parking on the UF campus.
2. What is the first word that comes to mind when you hear UF parking? Why?
3. Do you think the system used for parking is fair to the student population?

I have learned a lot from this experience. I know that not all customers have the exact same opinion as me, but that means I can learn from them and they can learn from me. I still believe in my idea, and I am happy to change it to fit the needs of customers. 

Three tips I would give to students in the next semester of ENT 3003 about interviewing customers are be confident, be prepared, and be excited about your idea. 

Week 5 Reading Reflection

The biggest surprise for me in the reading was reading about B Corporations. It was a good surprise because this was the first time I had learned about the B Corporation. 

One part of the reading that was confusing for me was the picture that showed the process for obtaining a patent. I didn't realize how many steps there were in this process. I'm glad I learned more about it, and I'm excited about reading it over to understand it better. 

I would love to be able to sit down with the author and ask him what type of legal form he is most familiar with. I would also ask him if he had any experience dealing with trademarks and copyrights. I would love to learn more about both of them. 

After reading chapter nine, there is nothing that I think the author was wrong about. 

Elevator Pitch No.1

Late Night Light:

I saw an opportunity for a healthier alternative when eating late at night. Most college students enjoy eating late but tend to be frustrated that there is not much of a variety when it comes to food options. That's why I came up with the food store Late Night Light. It's a healthy food store that will be open late at night, so students can eat when midnight rolls around without regretting their food choices in the morning.

Week 4 Reading Reflection

The biggest surprise for me in the reading was the table that identified the most common idea killers. It was really interesting to read about because it seems like such a simple concept but one I've never really concentrated on. I think it shows that even when people don't intentionally mean to shut down creative ideas, their negative comments usually stop unique ideas from developing further. 

One part of the reading that was confusing for me was the arenas of creativity. I have always viewed creativity in a very simple way. I think I will have to read over this section because it goes into great detail about different kinds of creativity that I have never been exposed to. 

I would love to be able to sit down with the author and ask him how he approaches creative problem-solving. In addition, I would like to ask him to tell me about a time someone killed an idea of his. It would be a great learning experience to see how he bounced back from a situation like that. 

After reading chapter five, I would have liked to have read more about the right and left brain. With that being said, I wish there was more information under the heading "Using Your Brains."