29A- Venture Concept No. 2

Opportunity:

   My opportunity is to make care packages full of healthy meats and vegetables, such as the ones for army troops, and to supply the packages to underdeveloped countries and the countries that have been hit the hardest by pandemics. I would also supply the underdeveloped countries with hygiene packages as a bonus to their purchases. These packages will be for the ones who cannot afford the food within their respective regions and also, the ones who rather reside in their homes to evade the coronavirus. These packages would help push the development for underdeveloped countries, and help ensure safety/reduce the risks of contracting any virus that comes about.
   The sudden rise of, Coronavirus, immediately brought this idea to my mind. I also took it further than that, if it can be a viable resource, why not branch it off to underdeveloped countries who truly need help. Geographically, I'm aiming for third world countries and then the U.S. Demographically, this care package will be bought by consumers who can generally order things at will, 18 and up, and give to their families once received. Customers are going out and stocking up on food so they won't have to go out, to satisfy this need. They're very loyal as they want to stay healthy and practice "social distancing" to keep away from the virus. This opportunity is humongous, as it will help underdeveloped countries be able to receive healthy food, and also reduce the cases of the virus when people are in their houses, waiting for the care package to be delivered. This window of opportunity will be open for as long as the virus is going on and/or as long as the underdeveloped countries need to further their advancement.

Innovation:

   This opportunity is incrementally innovative. Care packages will contain pounds of fresh products and meats that have been preserved properly for transport. The consumer will just need to order online the package of their choosing (differs in type of meat/fruits and vegetables) and be delivered to their places of stay. The packages will sell for as much as $10 for pounds of food which, will relatively cost less than what they'd normally spend for the amount given. This will induce high demand of the packages which, will ultimately lead to stable and great financial income.

Venture Concept:

   This innovation will help ensure the safety of others and reduce the number of transmission of the virus It will also help the ones who are having difficulty, in their respective countries, be able to obtain healthy and affordable food. People would love the idea of not having to go outdoors and risk contracting the virus when, they can stay at home and have affordable, clean food delivered to them. I believe it wouldn't be very difficult to have this product branch out and receive many consumers. The competitors would have to be the companies who possess the ability to carry out the same idea as myself. However, they'd be more reluctant to truly carry out this idea as it wouldn't maximize their profit and/or they'd want to sell the packages for a much higher price.
   Packaging, price points, distribution, and customer support all play a monumental role in my business concept. They will allow for the business to actually take place, and ensure that the business is built on a strong foundation that will help it continue to flourish. I would have a customer service team, production team, and would be in contact with delivery companies as they would provide the delivery support. I would look at the beginning of the project to have more or less 100 employees, and have that amount gradually increase as the high demand begins to kick in.

Three Minor Elements:

1) My most important resource will be the connections I currently have, as they are filled with people who possess the ability to help me achieve the things necessary to properly establish the business.

2) The next opportunity that I'm considering is more for underdeveloped countries, care packages of clothing.

3) In five years, I'd want this venture to still be strong in case of any pandemics and in helping underdeveloped countries, this idea will also branch off into a more, regular purchase for consumers. As an entrepreneur, I want to put the customer's need first, as that would bring more light to my business. This venture will showcase what my business is all about, the people, and this will induce a high consumer rate for years to come.

FEEDBACK:

The feedback I was received was relatively positive. They helped me realize that this opportunity can go above and beyond in the types of products that are within these packages. I changed my venture concept by adding another care package that has hygiene products as a "bonus" for those who purchases the original care package of food, for the underdeveloped countries.

30A- Final Reflection

1) As I began reading posts since the beginning of this class, I have seen drastic changes to the way I think and how I now push myself to get my work done. The lows was definitely trying to find a suitable opportunity that many have not thought of, it took a good minute to think of. The high was most definitely going with the opportunity. It was fun watching the pitches as everyone did their own thing, how they wanted it. The venture concept was a moment of drudgery.

2) The experience that I will remember and that was most accomplishing is getting the chance to do 3 pitches. Before attending UF, I have never done an elevator pitch, so I hope to build upon it. My most joyous experience was being able to interact with others within the respective group and see their journey along the way.

3) Yes, I now see that I am an entrepreneur. Prior to this class, I always thought I was but, I learned I wasn't after all the lectures.

4) I would tell future students to not procrastinate in the class because, it does have times when it can be a lot of work. As well as, what you put forth is what you receive in this class.

27A- Reading Reflection No. 3

I chose to do this reflection on, Thinking, Fast and Slow.

1) The general theme or argument of this book relates to decision making. It gives the reader advice regarding how to think properly and make the best decision depending on the situation one is in.

2) This book connects to ENT3003 by the idea of thinking outside your box and/or getting out the boundaries. Thinking outside the box, generally leads to a better solution to the current problem at hand and/or another opportunity may arrive from the certain project at hand.

3) I would design an assignment that would be connected with people's original opportunity. The assignment would be, think of 10 different ways that can help expand your opportunity via new ideas.

4) The biggest surprise of this book is how the brain tends to act in trying to solve a situation at hand. It is like the brain travels the speed of light in search of the proper solution that will ultimately help you make a decision.

28A- Your Exit Strategy

1) I must say, choosing my exit strategy really made me think of all the different possibilities that derives from each. However, we that being said, I came to the decision of choosing to stay with my business for several decades and retire. 

2) I selected this exit strategy with the though of extra opportunities and/or partnerships that may present themselves in the future. This strategy will allow me to venture off to different subjects in the world thus, helping me mold a true empire.

3) This exit strategy influenced my other decisions in this concept by helping me think outside the box. This allowed to me go beyond what my mind could possibly fathom at a certain point in time, it definitely influenced my growth intentions. I am thinking how I can make this company a real brand name that just does it all, similar to Amazon. However, that is just wishful thinking at this current moment.

26A- Celebrating Failure

1) This past semester I failed a General Chemistry 1 test. In my defense, the second exam that consisted of calorimetry was taken way out of proportion. I studied for countless hours, and I realized when taking the test, this is what it means for when you teach yourself in college.

2) I learned that the studying habits and/or new study methods did not match up well with that certain class. I decided to relate to real life situations, you cannot approach every situation with the same mindset. You have to switch up your game stance.

3) Failure, at first, is pure embarrassment, there is no ifs and buts about it. Emotionally, I start to think to myself, did I really do that? It is like a switch that goes off in my mind, that causes me to go into a moody state. I notice that, behaviorally, I seem to be less motivated through the duration of the day. This class has taught me, that failure will lead to success. Failure is the kickstart in our minds that will not allow us to settle for mediocrity. I am more likely to take a risk now.

25A- What's Next?

Existing Market:

Step 1: I believe that this business is able to be expanded to different type of packages. For example, a clothing package.

Step 2:

21 yr old male- He believes that the business can do something similar to Instacart, and that more effort of ensuring the packages were not touched, such as a tamper evident seal, would greatly help the business.

19 yr old female- She believes that this business could go ways regarding underdeveloped countries. In addition to food care packages, she suggested a medical and/or tools package.

30 yr old male- He says that the business should offer faster delivery. Also, that these packages can be made into, hygiene packages and so on.


Step 3: I completely agree with the feedback of these customers. Why should I settle for this just food packages, when I can put a variety of things within these packages. However, with that being said, in the beginning of the business, I would focus more on the food since it is the most important thing currently.
   In addition, my business can and should have faster delivery to get the products right to the consumers in time. I suppose, that something similar to Instacart can be in the works with local delivers via an app but, there is extreme competition within that field. So, the business must have a huge amount of credibility to be a competitor against the likes.

New Market:

Step 1 and Step 2: Since my business is already a B2C market, I could possibly make it B2B as well. Due to high demand, I just might need that extra "oomph" to have the business be more efficient overall. The thought of having this business venture off to being more than just food, leads to countless possibilities. I can use it for clothing, hygiene, tools, and medical equipment.

Step 3:

35 yr old male- He says this business will help promote social standing, and help people who need to stay indoors, stay indoors. He also suggested adding more bang for their buck, more food.

24 yr old female- She believes that this will help people follow stay at home orders. With that being said, she'd like for the packages to include hygiene so people don't have anymore excuses of going out instead of going to work.

Step 4: Through the feedback, I learned that this business truly can go the distance. There are a countless amount of possibilities that would help it reach its full potential. These recommendations is surely in deep consideration.
   I'm surprised that many people saw more than I thought the business can be. They truly opened my mind and help me realize that it can provide well for the consumers. This new market being added upon the existing market is attractive but, I wouldn't put it above the food packages.

24A- Venture Concept No. 1

Opportunity:

   My opportunity is to make care packages full of healthy meats and vegetables, such as the ones for army troops, and to supply the packages to underdeveloped countries and the countries that have been hit the hardest by pandemics. These packages will be for the ones who cannot afford the food within their respective regions and also, the ones who rather reside in their homes to evade the coronavirus. These packages would help push the development for underdeveloped countries, and help ensure safety/reduce the risks of contracting any virus that comes about.
   The sudden rise of, Coronavirus, immediately brought this idea to my mind. I also took it further than that, if it can be a viable resource, why not branch it off to underdeveloped countries who truly need help. Geographically, I'm aiming for third world countries and then the U.S. Demographically, this care package will be bought by consumers who can generally order things at will, 18 and up, and give to their families once received. Customers are going out and stocking up on food so they won't have to go out, to satisfy this need. They're very loyal as they want to stay healthy and practice "social distancing" to keep away from the virus. This opportunity is humongous, as it will help underdeveloped countries be able to receive healthy food, and also reduce the cases of the virus when people are in their houses, waiting for the care package to be delivered. This window of opportunity will be open for as long as the virus is going on and/or as long as the underdeveloped countries need to further their advancement.

Innovation:

   This opportunity is incrementally innovative. Care packages will contain pounds of fresh products and meats that have been preserved properly for transport. The consumer will just need to order online the package of their choosing (differs in type of meat/fruits and vegetables) and be delivered to their places of stay. The packages will sell for as much as $10 for pounds of food which, will relatively cost less than what they'd normally spend for the amount given. This will induce high demand of the packages which, will ultimately lead to stable and great financial income.

Venture Concept:

   This innovation will help ensure the safety of others and reduce the number of transmission of the virus It will also help the ones who are having difficulty, in their respective countries, be able to obtain healthy and affordable food. People would love the idea of not having to go outdoors and risk contracting the virus when, they can stay at home and have affordable, clean food delivered to them. I believe it wouldn't be very difficult to have this product branch out and receive many consumers. The competitors would have to be the companies who possess the ability to carry out the same idea as myself. However, they'd be more reluctant to truly carry out this idea as it wouldn't maximize their profit and/or they'd want to sell the packages for a much higher price.
   Packaging, price points, distribution, and customer support all play a monumental role in my business concept. They will allow for the business to actually take place, and ensure that the business is built on a strong foundation that will help it continue to flourish. I would have a customer service team, production team, and would be in contact with delivery companies as they would provide the delivery support. I would look at the beginning of the project to have more or less 100 employees, and have that amount gradually increase as the high demand begins to kick in,

Three Minor Elements:

1) My most important resource will be the connections I currently have, as they are filled with people who possess the ability to help me achieve the things necessary to properly establish the business.

2) The next opportunity that I'm considering is more for underdeveloped countries, care packages of clothing.

3) In five years, I'd want this venture to still be strong in case of any pandemics and in helping underdeveloped countries, this idea will also branch off into a more, regular purchase for consumers. As an entrepreneur, I want to put the customer's need first, as that would bring more light to my business. This venture will showcase what my business is all about, the people, and this will induce a high consumer rate for years to come.

23A- Your Venture's Unfair Advantage

1) Connections
VRIN- My connections are valuable as they are people who are in power. They, themselves, have their own companies and are willing to help due to being close family friends. It's rare because, not many people have that one or two special connections that would seriously jumpstart their idea. Inimitable, it's difficult to have constant, direct contact with those who have their own empire. This is definitely not substitutable.

2) Start-up investment
VRIN- This is valuable because, I have strong financial backing. People do have financial backings but, it may not be as strong. It's not truly difficult to have financial backing because, the bank itself has the power to give people loans. This is not substitutable, money is an essential.

3) UF student
VRIN- This is valuable because, the title of being a student within the top 25 universities in the nation, sits well in the mind of supporters. This is rare due to other students not having the same brand. It's not difficult due to colleges/universities that are known specifically for business. This may be substitutable because, people care more of what you have to offer.

4) Idea
VRIN- This is valuable because, people are more focused on trying to have a stable income instead of helping others and gaining that worldwide respect which, leads to more financial income. It's rare because, not many people have the concept of care packages and/or want to pursue the idea of care packages. It's difficult to imitate because, not many have the connections needed to be able to produce, supply, and deliver to consumers door's worldwide. This is not substitutable, my idea is founded on this.

5) Work Ethic
VRIN- This is valuable because, the drive to get the job done, no matter the circumstances, leads to great success. It's rare due to not many people having the mentality of going out and truly getting what they want. Nowadays, it's a tad bit difficult to know someone who has high work ethic. This is not substitutable, without drive, the work won't be done.

6) Communication
VRIN- This is valuable because, communication is key in getting your idea across and also receiving even further support. It's rare because not many people know how to properly communicate with others, and/or mess up their opportunities during conversation. However, there are people that know how to communicate very well, making this resource not as inimitable. This is not substitutable, communication is key in all things.

7) Passion
VRIN- This is valuable because, with passion, your drive to get what you want in order to succeed, is certainly in reach. This is rare due to not many people having passion, they just sometimes think "sure I'll do it" and drop the project midway. This is a trait that's not as difficult to imitate due to everyone having a passion for something. I suppose this is substitutable for another resource like, grit.

8) Intelligent
VRIN- This is valuable because, being an ingenious individual will surely take you ways. This is rare, as there are people who claim to be "intelligent" but, their actions deem otherwise. This is difficult to imitate because, not everyone has this trait and to gain it is another story. This is not substitutable, you must have some type of wit to keep your project going strong.

9) ENT3003
VRIN- This is valuable because, there are many students in this class and Professor Pryor, himself, who can put in their 2 cents of advice and ideas. This is rare because, there are several other students taking this class as well. This is somewhat difficult to imitate because, not all students have a student body and professor willing to advise them. I believe that resource is not substitutable.

10) Determination
VRIN- This is valuable because, it determines if the project will reach it's goal and if it'll last. It's rare because, many people decide to give up if things don't go the way they'd like. This is difficult to imitate because, not everyone has the strong suit to push after every failure. This is not substitutable, without determination, the project will fail.

My top resource would most definitely be, connections. Connections would greatly help someone jumpstart their idea, and help it come to fruition.

22A- Elevator Pitch No. 3

https://www.youtube.com/watch?v=hEsEaiBTAxE&feature=youtu.be

I did not receive any feedback from my second pitch, so I did some self-criticism again. I noticed that I lacked energy, so I decided to do this pitch earlier in the morning. Also, I pictured myself in an actual setting, rather than just the recording device, so I "faked" eye contact around the room.

21A- Reading Reflection No. 2

   I decided to do my reading reflection on, How to Fail at Almost Everything and Still Win Big, by Scott Adams. It just seemed enticing, the fall and then the come up.

   The general theme and/or argument of this book is mostly about keeping your head up, likewise motivation. There are times where we would be let down by trying to do any sort of activity that seems to occasionally pop up in the mind. However, it is what you do with that which, ultimately causes you to push for success and help you grow mentally.

   In ENT3003, there have been lectures that have been tied to failure because, not everything is sunshine and rainbows all the time. It is through this failure that separates us from the rest, do we continue our goal or do we settle for less. In the mind of an entrepreneur, failure is bound to come and you find your solution, similar to Elon Musk.

   If I could design an exercise based of this book, I would continue the trend of what ways and/or what things can you do that would overcome your failures and brings you to finding the best solution/alternative.

   My biggest 'aha' moment would be, that it isn't necessarily a bad thing to be selfish. If you are able to focus on yourself and reach the point to where you want to be, you'd be able to help others in a more comfortable fashion.