Week 15 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
"Consider the plight of Saryamma: She and her husband were landless laborers who earned about $1 a day." You always hear sad stories about how poor those around us can, but after reading this I really questioned myself and try to put myself in their shoes.
2) Identify at least one part of the reading that was confusing to you.
Reading through the article I did not find anything confusing. Using smathers library to find the article although was confusing. I ended up just googling it and found it much easier.
3) If you were able to ask two questions to the author, what would you ask? Why?
What advice would you give to a young entrepreneur?
Do you consider yourself an entrepreneur and why?
I selected these questions maybe not based so much on the details of the article but on the course and how it relates.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
No I agree with all the author said.

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.
2) What sticks out to you as the most formative experience? I think the last experience was the most formative as it solidified everything I learned this year and how it compares to my other experiences on my resume.
The experience that you'll remember years later?
I will remember interviewing everyone and pulling teeth to give away a dollar bill.
What was your most joyous experience?
Most joyous experience was writing the actual posts and coming up with new ideas.
What experience are you most proud of yourself for accomplishing?
I proud of making it through this class and not crying.
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?
I believe I have learned what real entrepreneurs go through on a day to day basis. I now can saw I have an entrepreneurial mindset, but will leave declaring myself as an entrepreneur until I actual go through with a business concept.
4) What is the one recommendation you would make to the students who are going to journey down this path in the future?
Do not wait until last minute to do assignments as I did because it is not as rewarding and is very stressful at times. So develop good Time management skills earlier on in the course. Please take the class, but know there is work involved and try to expand your network while completing assignments.

Elevator Pitch No. 4

Reflection: I appreciate all the positive feedback! It encouraged me to further develop my pitch!
What I changed? I changed the tactic a little bit. Instead of making it seem like I was selling them something I brought them into the conversation and made sure my audience understood I took their comments and feedback to heart and hope to be able to implement them.

Venture Concept No. 2

1)
College students around the world spend hundreds of dollars on textbooks that they only use for a semester. Many of those textbooks sit around and go unused. I want to change this and hopefully reduce the amount spent on textbooks with a give a book get a book program. The Gator Book Exchange program would occur at the end of each semester when students are registering for new classes and finishing up old ones. Each participant will donate old books and receive books for their next semester in exchange. Let's work together to cut down the cost of college!

So far the potential consumers I interviewed seemed to be intrigued by Gator Book Exchange. Although I can see a few flaws that I would need to attack early on. One major problem is the rise in reliance on online textbooks and rental textbooks which would result in a less engaged backing.  I also learned that I am going to be challenged by people not participating due to the need to have access codes still. Although I plan to make my program successful through organization and engaging advertisements.

As I college student I understand the cost of textbooks and how loans are not fun to take out. I also understand that majority of college students no longer are focusing more on supplements instead of textbooks and I want to change that mentality. I am specifically targeting returning University of Florida students across all majors and minors. In order to ensure success I might start on smaller scale and with college I know best. Therefore I would start out with a business student Gator Book Exchange and then learn from my mistakes there and bring it to a larger target being the entire campus.

The forces in the environment creating this opportunity is the increase in the cost of textbooks. My venture will be specifically targeting the University of Florida students. I plan on starting with the Business College in order to start on a smaller scale and use it as a trial basis. Demographically I am targeting students who range from 18-22. Customers are currently renting textbooks to save money or not buying textbooks and buying cheaper supplements instead. I would say customers are loyal, but as college students we are always looking for a cheaper option. This opportunity is huge as it is changing how we interact with one another and giving college students an opportunity to save money. The window of opportunity should be open for a long time unless we transition completely to e-texts and get rid of physical textbooks. Which would be really sad! I think the reason people would switch is due to trend to get away from paper and being more environmentally friendly. I think once the majority switched over to etext there will be no coming back as it will be a generational change. There are no concepts that are the same as mine. But competitors range from UF bookstores, smoking notes, Amazon, and other textbook services. Some possible weaknesses is they all have costs. They have their strengths though as they have access codes I can not provide and it is more of a guaranteed product. Pricing or packaging does not play a role as my organization is a nonprofit. I would continue to add new volunteers that would help foster a creative space to come up with new ideas. 15 employees would be helpful and easily attained. There would be a variety of committees to join from set up, marketing, organizing, and site leaders, and volunteers the time of the event.

2) I love how encouraging everyone is and how great the feedback I got was. I enjoyed reading that people are excited to participate in the program and offer there pieces of advice. Many agreed that having an exit plan is important and in order to be successful I have to understand that technology is a force that could possibly squash my business venture. So looking to make sure that it is organized, progressive, and well promoted is very important!
3) I would just add that organization is integral and put a better detailed plan, so others can see my thought process on the logistics behind the venture. I also would add a more progressive component. And also a detailed marketing strategy including advertisements and possible ways to attract participants.

 

Google Gold

1) A discussion of your general approach and strategy to search engine optimiation (SEO). What were some of the activities you did for each blog post to pursue SEO? 

• If I am completely honest my general approach was not well thought out and if I were to redo this course. This would be the first thing I would change. I subconsciously promoted my blog through talking to my network about the class and what I do. It promoted my blog as many checked out my posts and were intrigued by the concept of me having my own blog.

2) What were your keywords. How did you select those keywords? Did you change or refine your keywords through the semester?

• My keywords consisted of entrepreneurship, venture, Gators, college students, and textbooks. I changed the keywords throughout the semester to fit the type of post. Although the main keywords stayed the same as you use those words to bring attention to your business venture and potential customers.

3) How did you use social media to enhance your SEO efforts? What your your surprises or general impression of using social media to improve your blog's profile? Was social media generally receptive of your blog, or did it get ignored?

• I personally did not use social media very often, but I used one of my organizations Facebook groups to ask for advice on the blog and a link to check my blog out. I feel it was more receptive because I knew everyone in the group very well and they are a supportive group of people. Although I feel I needed to develop my blog more with more posts to successively gain their attention and loyalty.

4) What was your most "viral" post? In other words, which post obtained the most traffic? Why do you think?

• Customers Interviews Number 3 obtained the most traffic. I feel any post that had videos or visual aids obtained a larger amount of traffic because it was able to better obtain peoples attention. To add I think a lot of people enjoyed laughing at either themselves or me in the videos. As it can be strange to see yourself or close friends on camera.

5) Finally, did you make it to the first page of Google results for your keywords? If not, what page of results did you make it to?

• No I did not because it is such a wide range of words. Although I feel it also had to do with my business venture and how it focused on a popular phenomenon that a lot of people use the internet to complain about it and I feel a lot of the time searching textbooks big companies like Amazon pop up.

 

Very Short Interview, Part 2

Background: 
Donna Belanger first opened up her restaurant, All American Hero, with her husband in 1984. Always having a passion for cooking and people, Donna decided to open her own restaurant. She enjoyed coming up with new recipes and ways of bringing in new costumers. Her bestselling dish was chili, a secret recipe of hers. Donna shares that her entrepreneurship journey had its ups and downs; but was an experience like no other. 

Reflection:  looking back on this interview it goes to show how much I have learned and grown throughout this class. The questions I asked gave me insight on how I might succeed, but what I have learned is experience is necessary and you sometimes just have learn from mistakes and be in the moment. I enjoyed rereading the responses and going over the interview. 


Interview: 

Interviewer: What was your greatest struggle and why? 

Entrepreneur Donna: “Trying to make sure every dish came out perfect was difficult feat. Although my greatest struggle would be coming out of my shell and being more outgoing. When I started I was very shy, but by the time I closed my restaurant I was more outgoing.” 

Interviewer: What does it feel like to be an entrepreneur? 

Entrepreneur Donna: “My husband was a large part of the restaurant’s success as he understood the business part. But being an entrepreneur was very rewarding. I was able to hire people that eventually became my friends and some I even considered family.” 

Interviewer: Where there any classes that helped you succeed as entrepreneur or classes that you wish you would’ve taken? 

Entrepreneur Donna:  “I feel culinary class had a large impact on me as I was able to experiment on my recipes. Although I wish I would have taken businesses courses to have a better understanding of the finances and how to set up a company.” 

Reflection 2: discuss your comfort level in talking about entrepreneurship in this interview now, compared to three months ago. Did the entrepreneur convey a sense that they thought you had progressed in your journey?

Interviews do not seem to get easier for me as each are different and tackle different concepts. But I do see that I have a better idea on what to ask and better ways to explain how my concept. My entrepreneur did mention that she liked my concept and thought out my idea was. But she reminded me that in life nothing goes as planned so be prepared to think on your toes. 

Week 13 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The biggest surprise is charging a premium for a sale of large controlling block of closely held businesses. 

2) Identify at least one part of the reading that was confusing to you.

No part was particularly confusing. 

3) If you were able to ask two questions to the author, what would you ask?

What is your best advice for acquiring a business? 

What business would currently want to acquire? 

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I'm not really versed on this section of the textbook so I can not say I disagree with the author. 

Celebrating Failure

1) Tell us about a time this past semester that you failed 

I was the head chair for the decoration committee for potluck which hosted over 100 people. I failed to motivate my team to work hard and did not dedicate enough work to the position. Sadly the decorations were lacking. Although I was challenged by a small budget and a lack of a motivated team. 

2) Tell us what you learned from it.  

I learned that as a leader you can not always be nice. It's crazy to think that people do not always want to be apart of team and do not contribute their share. But that is how life works sadly. 

3) Reflect

I want to do better in the future and I have learned I can be a strong leader if I just let my passion shine. 

Exit Strategy

1) Identify the exit strategy you plan to make.
Do you intend to sell your business in the next 5 years for a large return?
My business is a non profit so I do not plan on selling it but rather passing it down to future generations of gators.
Do you intend to stay with the business for several decades and retire?
I intend to stick with this venture until I graduate, so for another 3 years.
Do you intend to protect the venture as a family business, and pass it down to your children?
I intend to run it much like an organization on campus, so elections would be held once a year. I might even try to attach it to Enactus to ensure its sustainable success.
2) Why have you selected this particular exit strategy?
I selected this strategy because it beneficial to the organization and to myself.
3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
I think it has influenced me in how I set up the structure of employees and who I would go about hiring. It also effects my strategy for development.

Whats Next

Existing Market. 
Step 1: Talk about what you think is what's next.

• I think the next phase of the Gator Book Exchange is an APP to assist with book exchanges on campus through out the semester.

Step 2: Interview three customers

Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.

• I think I really need to focus on marketing because this concept relies on people interaction. Without people dropping off books we wont have enough of a supply of books to exchange. To be a competitive company I want to hire volunteers that can build the companies network and expand the creative flow of ideas. Marketing on social media will be an integral part of the campaign as it is free and instant.
• Looking past the initial stages, I want to develop an App for campus students that can exchange books on their own and on their own time. I would also need to hire a team to tackle this and help me design the App and ideas on ensuring its success. Creating the app may take away from the event that occurs semesterly. But if we are not innovative and change with the times we may not be able sustain and will go into decline and not continuous growth.

New Market.
Step 1: Identify a radically different market from what you're currently planning to target.

• A different market for me could be students at other campuses around the country.

Step 2:

• This would expand my market because it would allow the students to have a greater appreciation for the exchange as it becomes global and not just a campus outreach. Another reason is it expands networks and reaches a whole new set of students.

Step 3: Interview three people from this new market.

Step 4:  

I think I really need to focus on marketing because this concept relies on people interaction. Without people dropping off books we wont have enough of a supply of books to exchange. To be a competitive company I want to hire volunteers that can build the companies network and expand the creative flow of ideas. Marketing on social media will be an integral part of the campaign as it is free and instant.

Looking past the initial stages, I want to develop an App for campus students that can exchange books on their own and on their own time. I would also need to hire a team to tackle this and help me design the App and ideas on ensuring its success. Creating the app may take away from the event that occurs semesterly. But if we are not innovative and change with the times we may not be able sustain and will go into decline and not continuous growth

Week 12 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

• The biggest surprise was on figure 13.7 it shows that Thailand has the largest amount of individuals engaged in entrepreneurship ventures despite being a developing nation.

2) Identify at least one part of the reading that was confusing to you.

• A confusing part of the reading was figure 13.3 as it does not seem to be a great way to display the information.

3) If you were able to ask two questions to the author, what would you ask? Why?

• What do the ventures in Thailand look like? What is successful and what is not successful over there?
• Amazon and apple are large companies that are constantly growing. What advice would you give to them on continuing to sustain their growth and not go into the decline stage?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

• I did not find anything that stood out to be wrong or a point of disagreement in this chapter.