1. I think that my exit strategy will be protecting my venture and keeping it in my family to pass down to my children if it takes off the way I think my venture will. However, if the venture experiences a brief period of growth and then a substantial decrease, I will sell the company and move to something else. I understand my creative abilities and how to build a company so I can use my skills to realize another opportunity.
2. I have selected this particular exit strategy because I feel that the ultimate goal is to create generational wealth for your family so that no one ever has to struggle in life and can make the absolute most out of their opportunities. A successful company that acts as a cash cow would enable my children and grandchildren to always have a place to work and money to live their lives with. If the company is not successful, then I will sell it and put the money into a new venture.
3. I think that my exit strategy has influenced other decisions that I have made in a way that shows that I am willing to take risks but understand that there is a point at which risks are not beneficial and could be harmful to my venture. I use this mentality in all things, including acquiring resources and making decisions on how far to push a concept.
Friday, 12 April 2019
27A reading reflection 3
Thinking Fast and Slow - Daniel Kahneman
1. The main theme of the book is that your brain uses two methods of thinking, a conscious system and an automatic system. He explains the differences between these two systems and that your brain doesn't use the full capacity of its intelligence. He explains the "gut feeling" that we all get and when to trust it and when to ignore it. The object of this book is to learn ways to understand your brain and eliminate errors in judgement.
2. This book connects to what we have learned in this class by explaining the way the brain works and how it wants to expend the least amount of energy. When making the important decisions that an entrepreneur has to make, the book explains that we need to be able to slow down and make the correct decisions by activating the conscious systems in our minds. Another big theme in the book is to "keep your emotions at the door" when making decisions about money and act rationally rather than emotionally.
3. One exercise from the book involves a math problem where a baseball bat and ball cost a combined $1.10 and that the bat costs a dollar more than the ball. How much does the ball cost? The activity would be to think of the answer quickly and write it down. Once you realize that the answer was wrong, re think about the question and you will see that the ball costs $.05 rather than $.10 which is what everyone initially thinks because of your brain's tendency to be lazy. If the ball were to cost $.10, then the bat would have to cost $1.10 which would make the combined total $1.20. Write down your reflection and how you can try to eliminate these intellectual errors in the future.
4. I think my biggest aha moment from the book was the activity and how I completely fell for it even after reading about how to watch out for intellectual errors like that. I didn't really know what to expect from the book when I read the title but I think that it definitely surprised me to learn that both the automatic and conscious systems fight for control during every thought that humans have.
1. The main theme of the book is that your brain uses two methods of thinking, a conscious system and an automatic system. He explains the differences between these two systems and that your brain doesn't use the full capacity of its intelligence. He explains the "gut feeling" that we all get and when to trust it and when to ignore it. The object of this book is to learn ways to understand your brain and eliminate errors in judgement.
2. This book connects to what we have learned in this class by explaining the way the brain works and how it wants to expend the least amount of energy. When making the important decisions that an entrepreneur has to make, the book explains that we need to be able to slow down and make the correct decisions by activating the conscious systems in our minds. Another big theme in the book is to "keep your emotions at the door" when making decisions about money and act rationally rather than emotionally.
3. One exercise from the book involves a math problem where a baseball bat and ball cost a combined $1.10 and that the bat costs a dollar more than the ball. How much does the ball cost? The activity would be to think of the answer quickly and write it down. Once you realize that the answer was wrong, re think about the question and you will see that the ball costs $.05 rather than $.10 which is what everyone initially thinks because of your brain's tendency to be lazy. If the ball were to cost $.10, then the bat would have to cost $1.10 which would make the combined total $1.20. Write down your reflection and how you can try to eliminate these intellectual errors in the future.
4. I think my biggest aha moment from the book was the activity and how I completely fell for it even after reading about how to watch out for intellectual errors like that. I didn't really know what to expect from the book when I read the title but I think that it definitely surprised me to learn that both the automatic and conscious systems fight for control during every thought that humans have.
26A- Celebrating Failure
1. This semester, I failed by missing a couple of cupcakes and a one assignment in this class. It was very frustrating because I had gotten very caught up in doing too many things at once and studying for important exams that it slipped my mind and I wound up forgetting about the assignments.
2. I learned that I need to be able to step back and realize that it is ok to take a break and to say no sometimes. I had bitten off more than I could chew that week and I learned that I have to be able to gather my thoughts and not become frazzled and forgetful.
3. The way I see failure now is drastically different from the way I used to see failure. In the past, I would be very hard on myself any time I failed and I would diminish my own confidence. I now focus on small wins and learning from my failures. I adopt the attitude that says "ok, that didn't work, let's try something else". I am grateful for my failures as they have taught and will continue to teach me many great lessons in life. This class has only helped my understanding of failure and how to overcome it and make it a teachable moment. I am much more likely to take a risk now than I would a couple of months ago because I understand that trying for something and failing is better than doing nothing at all.
2. I learned that I need to be able to step back and realize that it is ok to take a break and to say no sometimes. I had bitten off more than I could chew that week and I learned that I have to be able to gather my thoughts and not become frazzled and forgetful.
3. The way I see failure now is drastically different from the way I used to see failure. In the past, I would be very hard on myself any time I failed and I would diminish my own confidence. I now focus on small wins and learning from my failures. I adopt the attitude that says "ok, that didn't work, let's try something else". I am grateful for my failures as they have taught and will continue to teach me many great lessons in life. This class has only helped my understanding of failure and how to overcome it and make it a teachable moment. I am much more likely to take a risk now than I would a couple of months ago because I understand that trying for something and failing is better than doing nothing at all.
Friday, 5 April 2019
25A - What's Next?
Existing market
1. I think that the next step for my venture is to expand my product line for lockers for different events where people need to leave their things unattended. If I was able to expand it to things like music festivals and gyms, I think that it would greatly benefit the community.
2. All three of my interviews went pretty similarly. Since my product and venture are pretty one-dimensional, the people I interviewed said that "you should add them to gyms and stuff like that" which I said I had already considered and the fact that they suggested it affirms the fact that it is a good idea.
3. I think that the next step for this venture is to expand it so that it is in universities and schools all over the country. I want to to be adopted my colleges and public library systems so that it can gain exposure and then people could get them in their houses to hold their things in a secure place in a home office. In this existing market, I feel like there is a large opportunity for grown in this existing market.
I think that expanding a product line as well as expanding the growth of the company is beneficial in the long run. I don't want to have this product be a fad, and since it is a one time purchase product, I want to have an extensive service department to help maintain the products. I will commit to increasing quality constantly and making it more efficient to produce the product line.
New Market
1. Since my market is normally targeted towards young college students, I could change the locker to hospital rooms so that when people are asleep or being cared for, they have personal lockers that they could use for their belongings because all hospital rooms are usually unlocked so it makes it easy for thieves to steal things from sick people.
2. I think it would help offer a lot of value to people in hospitals. When someone is in the hospital, the last thing they want to worry about is someone taking their things while they focus on recovering.
3. I interviewed two people that work in hospitals and they said that this addition to hospital rooms would keep the guests much more at ease while recovering. They think that if I added some spots for it to have chargers for standard phones in them that it would help guests to keep their mobile devices powered.
4. I learned a lot about this market and how different it is from other markets. Hospitals are very different from other areas because people are generally feeling the absolute worst when they are there and they aren't super inviting places. However, the ability to make people feel more at ease by securing their belongings could drastically decrease the amount of stress involved with being at a hospital.
On second thought, I don't think that this market is as attractive as my first market but it definitely has room to grow and as I think about it more and speak with industry professionals, I can get a better idea of how to improve it and make it more lucrative. Hospitals are different than libraries but I can change my product line to help it fit better.
1. I think that the next step for my venture is to expand my product line for lockers for different events where people need to leave their things unattended. If I was able to expand it to things like music festivals and gyms, I think that it would greatly benefit the community.
2. All three of my interviews went pretty similarly. Since my product and venture are pretty one-dimensional, the people I interviewed said that "you should add them to gyms and stuff like that" which I said I had already considered and the fact that they suggested it affirms the fact that it is a good idea.
3. I think that the next step for this venture is to expand it so that it is in universities and schools all over the country. I want to to be adopted my colleges and public library systems so that it can gain exposure and then people could get them in their houses to hold their things in a secure place in a home office. In this existing market, I feel like there is a large opportunity for grown in this existing market.
I think that expanding a product line as well as expanding the growth of the company is beneficial in the long run. I don't want to have this product be a fad, and since it is a one time purchase product, I want to have an extensive service department to help maintain the products. I will commit to increasing quality constantly and making it more efficient to produce the product line.
New Market
1. Since my market is normally targeted towards young college students, I could change the locker to hospital rooms so that when people are asleep or being cared for, they have personal lockers that they could use for their belongings because all hospital rooms are usually unlocked so it makes it easy for thieves to steal things from sick people.
2. I think it would help offer a lot of value to people in hospitals. When someone is in the hospital, the last thing they want to worry about is someone taking their things while they focus on recovering.
3. I interviewed two people that work in hospitals and they said that this addition to hospital rooms would keep the guests much more at ease while recovering. They think that if I added some spots for it to have chargers for standard phones in them that it would help guests to keep their mobile devices powered.
4. I learned a lot about this market and how different it is from other markets. Hospitals are very different from other areas because people are generally feeling the absolute worst when they are there and they aren't super inviting places. However, the ability to make people feel more at ease by securing their belongings could drastically decrease the amount of stress involved with being at a hospital.
On second thought, I don't think that this market is as attractive as my first market but it definitely has room to grow and as I think about it more and speak with industry professionals, I can get a better idea of how to improve it and make it more lucrative. Hospitals are different than libraries but I can change my product line to help it fit better.
24A Venture Concept No. 1
Opportunity
My product gives those who use it the unique sense of peace of mind that is not largely found in today's society. When hardworking students go to the library, the last thing that should happen is for their belongings to get stolen when they leave to use the restroom or get a drink of water. My product, a locker that attaches to the bottom of desks, would mitigate this issue by enabling people to get up from their study area without being fearful of the looming threat that is theft. The people that have this need could really be all ages because people of all different ages use the library. However, I am targeting my product more towards college-aged students because the library is most frequently used during that age. This is a big opportunity and the window of opportunity will be there for a long time because as the digital age continues to develop, more and more students will adopt using expensive computers that could be easily stolen. This small change to libraries will protect students from losing potentially thousands of dollars and sensitive information that can be found on computers. Customers are currently satisfying this need by studying with someone else so that they can watch their things or they pack up all of their belongings and bring them with them everywhere they go, even in the library. Other customers just leave their things and hope for the best while taking a quick study break. This market is not really defined geographically but it is defined demographically by primarily being catered towards academically inclined young-age students.
Innovation
My product uses a simple combination locker that enables students to leave their belongings in a protected area for a temporary period of time while they use the restroom or get a snack during a study break. This locker attaches to the bottom of the desk and is big enough to hold computers, phones, textbooks and any other expensive school materials. I would make deals with the administration of universities to have them installed in all libraries and study areas. I would price them at $75 per locker to make them affordable for large universities and institutions. The cost to make this product would not be over $25 and installation will come at an added fee as well.
Venture
I think I could get customers to switch to this product because it is unlike anything they've ever been exposed to before and it would drastically help them decrease the fear of theft and they would be able to keep their belongings secure. It would be on option that they didn't have access to before so I think they would definitely be interested in using the lockers. There are no competitors which makes this product a gold mine and there aren't any weaknesses either. The way my product will be presented will be custom for each university with their university colors and symbols. They will be installed by one of my technicians at a certain labor fee and can be attached in whatever way that the university wants. There would be employees dedicated to installation and repair of the lockers and then there would be employees who make sales calls to universities and libraries. As that company increases in size, I will add more and more employees.
Three Elements
My secret sauce is the fact that my product helps people protect their assets and gives users one less thing to worry about while studying and trying to further their academic success.
The next step for this venture would be to expand this temporary locker concept to all areas of society, including gyms, music festivals, sporting events, etc. The possibilities are truly endless!
In the next five years, I hope this product is adopted in many different institutions and that it has evolved into something bigger than what it started as.
Thursday, 4 April 2019
23A - Your Venture's Unfair Advantage
My product is a locker that attaches to the bottom of a desk
1. My understanding of how the product can be marketed
Valuable: It is valuable because I am able to understand how to make people aware of my product in the most efficient way possible.
Rare: Not everyone understands the science behind marketing their own products and how important it is.
Imitable: Sure, it is imitable because marketing can be imitated but it is hard to do well.
Non-substitutable: Not substitutable at all.
2. My ability to work well with partners
Valuable: I am able to forge relationships with business partners to ensure that everything runs smoothly.
Rare: Not that rare because working teams is not an uncommon occurrence.
Imitable: Yes.
Non-substitutable: Not really, other resources can provide this effect but this resource works best.
3. Willingness to work hard
Valuable: I am willing and able to work hard to accomplish something that is important to me.
Rare: Somewhat, not a lot of people work hard these days.
Imitable: Yes.
Non-substitutable: Yes, you can't replace hard work with anything.
4. I have an understanding of budgeting:
Valuable: Yes, it is important to be able to understand how much money you can spend and where to allocate it towards.
Rare: No.
Imitable: Yes.
Non-substitutable: No.
5. I have good presenting skills
Valuable: Yes, the ability to present effectively helps a lot in the long run with getting people on board.
Rare: Somewhat rare.
Imitable: Yes.
Non-substitutable: You can replace this with having good content that doesn't need to be presented.
6. I am very comfortable with technology
Valuable: Yes, being proficient in technology makes it much easier to make your business grow faster.
Rare: In today's society, this is not that rare.
Imitable: Yes.
Non-substitutable: Yes.
7. I have a great understanding of my product and how it should fit in society.
Valuable: By understanding everything about my product, it will help me to be able to find a place for it to fit in society.
Rare: Yes, it is rare to be able to see the niche of a product before it has been realized.
Imitable: No.
Non-substitutable: Yes.
8. I have accounting knowledge
Valuable: Yes, to have an understanding of accounting is important because it allows you to make sure that there aren't any discrepancies.
Rare: No, it isn't rare to have a knowledge of accounting.
Imitable: Yes.
Non-substitutable: No.
9. My product gives people peace of mind.
Valuable: Yes, helping people to remain calm is one of the best ways to keep a customer or gain a new one.
Rare: Yes, a lot of other products don't do this.
Imitable: No, only some products can help people to feel more secure. Mine is done in a unique way.
Non-substitutable: No.
10. I have a great communication skills.
Valuable: Yes, this is valuable when working in teams so that everyone is on the same page.
Rare: Not really.
Imitable: Yes.
Non-substitutable: No.
My top resource is the fact that my product gives people peace of mind. This is something that is not too common for a lot of people and the ability to provide this for people is unique and will get a lot of business. This resource is more important than all the other resources because it is what makes my product unique and sets it apart from others.
Friday, 29 March 2019
22A Elevator Pitch #3
1. https://youtu.be/I6JStCUxsG4
2. I was really surprised on the feedback that I was given. I didn't think I had improved my elevator speech as much as everyone said I did and I was really happy to see that people thought that I had become more dynamic and fluid.
3. I changed the beginning of my pitch from the feedback that I was given and began with a story that a lot of students like myself could relate to. Hopefully it made my message more effective.
21A reading reflection #2
How To Fail At Almost Everything and Still Win Big
1.Essentially, the general theme or argument of this book is that you can learn from each failure and keep failing, while still learning, and eventually you'll fail your way to success and "win big". The author explained how important it was to be the "good kind of selfish" and take care of your mind and body.
2. So many successful entrepreneurs say time and time again how they failed so many times and how so many companies and products they tried to create wound up going under. Failing and using it as a learning experience is the most valuable attribute an entrepreneur can have. This book really challenges you to think that way.
3. An activity that I think would relate to this book and something that everyone could benefit from is categorizing your daily activities into certain places. For example, don't eat or do work in your room as that should only be used for sleep. When you do work, go to a different location to activate your mind. Keep a journal of your experiences and share with others.
4. I always have been a big believer in finding your passion and keep running with it. However, Scott Adams challenges this and says to find your energy. This means that you need to be able to be energized and motivated in whatever you do to succeed and it will help you move through the failures.
1.Essentially, the general theme or argument of this book is that you can learn from each failure and keep failing, while still learning, and eventually you'll fail your way to success and "win big". The author explained how important it was to be the "good kind of selfish" and take care of your mind and body.
2. So many successful entrepreneurs say time and time again how they failed so many times and how so many companies and products they tried to create wound up going under. Failing and using it as a learning experience is the most valuable attribute an entrepreneur can have. This book really challenges you to think that way.
3. An activity that I think would relate to this book and something that everyone could benefit from is categorizing your daily activities into certain places. For example, don't eat or do work in your room as that should only be used for sleep. When you do work, go to a different location to activate your mind. Keep a journal of your experiences and share with others.
4. I always have been a big believer in finding your passion and keep running with it. However, Scott Adams challenges this and says to find your energy. This means that you need to be able to be energized and motivated in whatever you do to succeed and it will help you move through the failures.
Thursday, 21 March 2019
19A - Idea Napkin No. 2
My name is Kyle Barnett and I am a 2nd year marketing major at the University of Florida. My skills include creating new things, writing detailed analyses, and working in teams. Throughout my schooling I have learned about many different concepts that I can translate into the workplace such as financial forecasting, marketplace analysis, and managing teams successfully. My aspirations include graduating college and transitioning into a full time position or going and getting my graduate degree or possibly law school. My product is a locker that attaches to the bottom of a desk and can be used to keep your belongings (such as your computer and textbooks) safe in the library while you take a study break and use the restroom or grab a quick snack.
To reiterate, the product I am offering to customers is a locker that attaches to the bottom of a desk to provide the most valuable thing that a person can have, peace of mind. The issue that people have is that there is a looming threat that your belongings can be stolen. This product can help people keep their things safe.
I am offering it to universities and public library systems so that it can be used for people in any type of library type area. The people that use this can be of all ages and all socioeconomic backgrounds. This product can potentially be for everyone. Customers care about this because the possibility of losing your belongings is too great and too important to not take seriously. What sets me apart from everyone else is that my product allows people to keep their valuables safe without having to bring them with them.
Feedback report
To summarize, I believe that the feedback I was given helped me to understand that this product could be for anyone of any age, not just college students. Everyone goes to the library at some point and perhaps this product could make them go more. Another feedback point that I received was that I could market it better by selling it to people to keep in their home as a new way of personal storage. I changed these concepts in my second idea napkin.
To reiterate, the product I am offering to customers is a locker that attaches to the bottom of a desk to provide the most valuable thing that a person can have, peace of mind. The issue that people have is that there is a looming threat that your belongings can be stolen. This product can help people keep their things safe.
I am offering it to universities and public library systems so that it can be used for people in any type of library type area. The people that use this can be of all ages and all socioeconomic backgrounds. This product can potentially be for everyone. Customers care about this because the possibility of losing your belongings is too great and too important to not take seriously. What sets me apart from everyone else is that my product allows people to keep their valuables safe without having to bring them with them.
Feedback report
To summarize, I believe that the feedback I was given helped me to understand that this product could be for anyone of any age, not just college students. Everyone goes to the library at some point and perhaps this product could make them go more. Another feedback point that I received was that I could market it better by selling it to people to keep in their home as a new way of personal storage. I changed these concepts in my second idea napkin.
Friday, 15 March 2019
18A - Create a Customer Avatar
Final set of questions:
I have a lot in common with my avatar because I modeled my product around the issues/opportunities that me and my peers have so my avatar is designed to look similar to my target segment.
I don't think it is a coincidence that I look similar to my avatar because I am the type of person that falls right in the middle of the age range and criteria that my product would be most effective for, so I created my avatar around that profile.
Friday, 1 March 2019
16A - what's your secret sauce
5 ways I have unique human capital
1. I have an unmatched work ethic.
2. I learn new skills quickly.
3. I work well with others very easily.
4. I am 100% dedicated to whatever task I am trying to complete.
5. I am not afraid to take chances and try new methods of doing things.
https://soundcloud.com/user-968309697/sets/kyle-barnett-voice-recordings
The differences:
I am way harder on myself than I should be and think I am not as good at certain things that I really am. Listening to these recordings was eye opening and refreshing.
1. I have an unmatched work ethic.
2. I learn new skills quickly.
3. I work well with others very easily.
4. I am 100% dedicated to whatever task I am trying to complete.
5. I am not afraid to take chances and try new methods of doing things.
https://soundcloud.com/user-968309697/sets/kyle-barnett-voice-recordings
The differences:
I am way harder on myself than I should be and think I am not as good at certain things that I really am. Listening to these recordings was eye opening and refreshing.
15A-Figuring out buyer behavior
Q1: When picking out a product to purchase, what matters the most? Quality, style, or price?
Q2: How do you usually purchase your products? (Online, in-store, etc)
Q3: If you decided to purchase a desk locker, would you pay for it in cash or card and who would be involved in the purchase decision?
Q4: What criteria do you use to determine whether or not a purchase was "good" or "bad"?
Interview One: Lawrence
1. He explained that it really depends on the product but that as a broke college students, price definitely plays a large role in his decision but usually quality is the most important. Sometimes style is important but he said that getting a quality product for a good price is the main goal.
2. He usually makes most of his purchases online because of the convenience factor. However, for some products where trying them on is beneficial, he purchases them in-store.
3. He said that if he decided to purchase this particular product that he would use a credit or debit card and that he would be the only person involved in the purchase decision.
4. Lawrence explained that he determines the success of a purchase by thinking about how many times he uses it, how well it performs, and how easily it fits into his life. He also told me that it is important to make sure you get what you pay for.
Interview Two: Sabrina
1. She told me in our interview that she focuses more on style and quality than price because she believes that in order to find a good product, you have to be willing to spend enough money to ensure its quality.
2. She purchases all of her products online because it lets her shop at any time she wants and she feels that the transactions are more secure.
3. She said that she would pay for the locker using a card but she also explained that if her university decided to purchase them for the school, there would be more people involved in the purchase decision such as committees dedicated to testing the product.
4. Sabrina explained that she decides if a purchase is good by how many times she uses it and if she feels that she got as much use out of it as she paid for. Bad purchases to her are products that you don't use and paid far too much for.
Interview Three: Craig
1. Craig explained to me that he is most concerned with quality and price over style when it comes to making purchases. He doesn't worry about style and he just wants to make sure that he is getting a product that will last a long time at a fairly cheap price.
2. He purchases most of his products in the store because he feels that even though it might be less convenient, seeing a product in person is the best way to determine the true quality of what you are about to purchase.
3. He said that he would pay for the locker using a card if he were purchasing it for just himself but if the university purchased it, then administration would be heavily involved in the purchase decision as well as the student body because the students would be the people using it.
4. He said that he defines a good purchase by how much the product helped him in the way it was designed to and if he feels that he didn't make an unnecessary purchase or spend too much money.
Summary: My target segment focuses a lot more on quality and price rather than style but sometimes style is important depending on the product. They purchase their products with credit/debit cards way more than in cash and they usually make purchases online but sometimes it is better to see the product in person before you buy it. The product would need to be affordable and well-made.
Q2: How do you usually purchase your products? (Online, in-store, etc)
Q3: If you decided to purchase a desk locker, would you pay for it in cash or card and who would be involved in the purchase decision?
Q4: What criteria do you use to determine whether or not a purchase was "good" or "bad"?
Interview One: Lawrence
1. He explained that it really depends on the product but that as a broke college students, price definitely plays a large role in his decision but usually quality is the most important. Sometimes style is important but he said that getting a quality product for a good price is the main goal.
2. He usually makes most of his purchases online because of the convenience factor. However, for some products where trying them on is beneficial, he purchases them in-store.
3. He said that if he decided to purchase this particular product that he would use a credit or debit card and that he would be the only person involved in the purchase decision.
4. Lawrence explained that he determines the success of a purchase by thinking about how many times he uses it, how well it performs, and how easily it fits into his life. He also told me that it is important to make sure you get what you pay for.
Interview Two: Sabrina
1. She told me in our interview that she focuses more on style and quality than price because she believes that in order to find a good product, you have to be willing to spend enough money to ensure its quality.
2. She purchases all of her products online because it lets her shop at any time she wants and she feels that the transactions are more secure.
3. She said that she would pay for the locker using a card but she also explained that if her university decided to purchase them for the school, there would be more people involved in the purchase decision such as committees dedicated to testing the product.
4. Sabrina explained that she decides if a purchase is good by how many times she uses it and if she feels that she got as much use out of it as she paid for. Bad purchases to her are products that you don't use and paid far too much for.
Interview Three: Craig
1. Craig explained to me that he is most concerned with quality and price over style when it comes to making purchases. He doesn't worry about style and he just wants to make sure that he is getting a product that will last a long time at a fairly cheap price.
2. He purchases most of his products in the store because he feels that even though it might be less convenient, seeing a product in person is the best way to determine the true quality of what you are about to purchase.
3. He said that he would pay for the locker using a card if he were purchasing it for just himself but if the university purchased it, then administration would be heavily involved in the purchase decision as well as the student body because the students would be the people using it.
4. He said that he defines a good purchase by how much the product helped him in the way it was designed to and if he feels that he didn't make an unnecessary purchase or spend too much money.
Summary: My target segment focuses a lot more on quality and price rather than style but sometimes style is important depending on the product. They purchase their products with credit/debit cards way more than in cash and they usually make purchases online but sometimes it is better to see the product in person before you buy it. The product would need to be affordable and well-made.
Friday, 22 February 2019
14A - Halfway Reflection
1. Some of the behaviors that I have developed in order for me to maintain my success in this class include things like increasing my organizational skills to keep up with assignments, enhancing my creativity to come up with new products to fit opportunities, and understanding current events to see where opportunities present themselves.
2. I think I definitely have developed a tenacious attitude over the past two months in this course and sometimes the assignments can take a lot of thought and can be kind of long-winded but in the end, I was able to pull through and complete the work to the best of my ability.
3. Three tips that I would offer a student for next semester would be:
1. Get creative with the class, the more fun you have, the more excited you'll be to complete the assignments and give your unique perspective.
2. Make sure you stay organized with all of your assignments and complete them on time.
3. Ask your friends about what they think of your ideas and see how your ideas can come to life.
2. I think I definitely have developed a tenacious attitude over the past two months in this course and sometimes the assignments can take a lot of thought and can be kind of long-winded but in the end, I was able to pull through and complete the work to the best of my ability.
3. Three tips that I would offer a student for next semester would be:
1. Get creative with the class, the more fun you have, the more excited you'll be to complete the assignments and give your unique perspective.
2. Make sure you stay organized with all of your assignments and complete them on time.
3. Ask your friends about what they think of your ideas and see how your ideas can come to life.
13A - Reading Reflection No. 1
1. What surprised me most about the Wright Brothers is that while both of them where tremendously bright, they did not attend college and they operated a bicycle shop selling their own designs of bicycles.
What I most admired about the Wright Brothers is their determination and dedication to innovation despite adversity and everyone saying that they were crazy. When their main inspiration Otto Lilienthal died in a glider crash, the boys decided to carry on their work rather than give up because they saw the possibility of failure.
What I least admired about the Wright Brothers is that Wilbur specifically had a great temper and because of one hockey injury, cancelled all plans to attend Yale and didn't even finish high school. I would have liked to see him overcome that adversity.
These brother did encounter adversity in many different forms, for example there is the adversity that Wilbur encountered in my last question but also when they were developing designs for their planes before they found success, they encountered great adversity because everyone thought they were crazy but they kept pursuing their dream of flight.
The competencies that these entrepreneurs exhibited were their intense passion for the pursuit of flight and their intellect that allowed them to overcome the obstacles that creating something so new would present them with.
If I was able to ask the Wright Brothers two questions, I would ask them how they felt when their role model and inspiration for flight Otto Lilienthal died doing a glider test because that meant that they would be carrying on with his work and saw the reality of the consequences of failure. I would also ask them how they carried on with their work while everyone around them told them that it wouldn't be possible.
One part of the reading that was confusing to me was how the actual idea of their flight project came about and how they were able to figure it out by using such basic materials. I don't know how they were able to make such a profound creation from mere household items.
I think that the Wright Brothers had a very fond opinion of hard work and that you can learn more from your failures than your successes and I share this opinion because they failed so many times but kept tweaking their invention and eventually found success along the way.
What I most admired about the Wright Brothers is their determination and dedication to innovation despite adversity and everyone saying that they were crazy. When their main inspiration Otto Lilienthal died in a glider crash, the boys decided to carry on their work rather than give up because they saw the possibility of failure.
What I least admired about the Wright Brothers is that Wilbur specifically had a great temper and because of one hockey injury, cancelled all plans to attend Yale and didn't even finish high school. I would have liked to see him overcome that adversity.
These brother did encounter adversity in many different forms, for example there is the adversity that Wilbur encountered in my last question but also when they were developing designs for their planes before they found success, they encountered great adversity because everyone thought they were crazy but they kept pursuing their dream of flight.
The competencies that these entrepreneurs exhibited were their intense passion for the pursuit of flight and their intellect that allowed them to overcome the obstacles that creating something so new would present them with.
If I was able to ask the Wright Brothers two questions, I would ask them how they felt when their role model and inspiration for flight Otto Lilienthal died doing a glider test because that meant that they would be carrying on with his work and saw the reality of the consequences of failure. I would also ask them how they carried on with their work while everyone around them told them that it wouldn't be possible.
One part of the reading that was confusing to me was how the actual idea of their flight project came about and how they were able to figure it out by using such basic materials. I don't know how they were able to make such a profound creation from mere household items.
I think that the Wright Brothers had a very fond opinion of hard work and that you can learn more from your failures than your successes and I share this opinion because they failed so many times but kept tweaking their invention and eventually found success along the way.
Friday, 15 February 2019
12 A Figuring Out Buyer Behavior #1
Segment: College/Undergraduate students on campus ages 18-25, people that commonly use public libraries or university libraries.
The first person that I chose to interview was my roommate and friend Danny. He is a pre-med student and he spends a lot of time at the library studying. He also is an athlete and he is very well-hydrated, because of his constant water-drinking, he frequently takes bathroom breaks and is nervous about losing his belongings while he uses the restroom. He explained the need for something to secure his valuables such as his expensive computer. I explained my idea to him and he was immediately interested.
My second interview was with a friend of mine that happens to be a freshman, when I explained my product to her she couldn't understand why it wasn't already a thing. She understands that theft is an issue on the UF campus and she didn't know what to do when she got up to take a quick break. She usually deals with the need by packing her things up when she gets up from her desk. She is also interested in the product.
My third interview was with a student that goes to a different college in a different state. At his small school in the northeast, they already have things similar to this where you can leave your phone in a combination locker that charges it and says that there are plans to make it for computers as well. He thinks that it is a great idea and would definitely use it but he says I shouldn't expand it past college campuses.
Overall, these three interviews gave me a pretty good idea of what my buyers would look like. However, this would be something that would have to be implemented by the University which means that administration would have to buy them. If enough students express need then it would encourage the administration to buy them.
The first person that I chose to interview was my roommate and friend Danny. He is a pre-med student and he spends a lot of time at the library studying. He also is an athlete and he is very well-hydrated, because of his constant water-drinking, he frequently takes bathroom breaks and is nervous about losing his belongings while he uses the restroom. He explained the need for something to secure his valuables such as his expensive computer. I explained my idea to him and he was immediately interested.
My second interview was with a friend of mine that happens to be a freshman, when I explained my product to her she couldn't understand why it wasn't already a thing. She understands that theft is an issue on the UF campus and she didn't know what to do when she got up to take a quick break. She usually deals with the need by packing her things up when she gets up from her desk. She is also interested in the product.
My third interview was with a student that goes to a different college in a different state. At his small school in the northeast, they already have things similar to this where you can leave your phone in a combination locker that charges it and says that there are plans to make it for computers as well. He thinks that it is a great idea and would definitely use it but he says I shouldn't expand it past college campuses.
Overall, these three interviews gave me a pretty good idea of what my buyers would look like. However, this would be something that would have to be implemented by the University which means that administration would have to buy them. If enough students express need then it would encourage the administration to buy them.
11A Idea Napkin #1
1. I am a second year marketing major from South Florida. I enjoy many different things such as fitness, movies, going to the beach, and creating new things. As the difficulty of my classes starts to ramp up, I am increasingly spending more and more time in the library. There are a lot of different courses that I have taken at UF that would be able to gear me towards developing a successful idea such as this one. I have learned how to see an opportunity or need that people have and capitalize on it. I understand how to manage a budget in the beginning stages of a product and understand how to take a product to the next level.
2. What my product will offer customers is something invaluable to the student population which is peace of mind. The ability to leave your belongings secured at your desk when you get up to go get a quick drink of water or use the restroom is what will drive this product's success.
3. I will target on-campus college students between the ages of 18-25 because some graduate students would get a lot of use out of this product too. They have to be on campus because they would have to study at the library in order to be able to use the product. All of my customers care about their belongings and would feel terrible if they lost anything.
4. My customers would care about this because theft is a real issue in our campus in our libraries and a way to effectively eliminate this issue would change the way we study as a student body.
5. What sets my product apart from others is that this product helps people to be able to keep their things safe, they can save spots at the library, and it can help to deter thieves on our campus and mitigate the issue.
2. What my product will offer customers is something invaluable to the student population which is peace of mind. The ability to leave your belongings secured at your desk when you get up to go get a quick drink of water or use the restroom is what will drive this product's success.
3. I will target on-campus college students between the ages of 18-25 because some graduate students would get a lot of use out of this product too. They have to be on campus because they would have to study at the library in order to be able to use the product. All of my customers care about their belongings and would feel terrible if they lost anything.
4. My customers would care about this because theft is a real issue in our campus in our libraries and a way to effectively eliminate this issue would change the way we study as a student body.
5. What sets my product apart from others is that this product helps people to be able to keep their things safe, they can save spots at the library, and it can help to deter thieves on our campus and mitigate the issue.
Friday, 8 February 2019
9A - Testing the Hypothesis, Part 2
After thinking a lot about my idea of implementing a system of easy-to-use combination lockers in our UF libraries, I decided to interview 5 more people, below are the conclusions I have drawn from my interviews.
Who: Throughout each of these 5 interviews, I was able to learn a lot more about my opportunity. I interviewed 3 people that were not college students and because they have no use for a library and don't really spend time at them, they would get little to no use out of the product. I expected this and I understand that my target segment is really only college students that use libraries. That being said, they did think it was a good idea for the UF library system. I interviewed one graduate student and he said that he does most of his studying at home so he would actually have no use for the product whatsoever, he also said that it would be difficult to use because if you went to the bathroom and had your stuff locked up, it would seem like an open desk from afar and this would create many issues. It could also be a potential liability because who knows what type of things people would leave in the lockers. My last interview was with someone who was kind of ambivalent about the idea because she thought that there were too many ways for it to not work properly and it would be too complicated of an idea to implement.
What: This need differs from other needs because it is a unique problem that no one has really found a solution for. While it may be difficult to implement this outside of college campuses, I believe that I have truly struck a potential gold mine that would fit perfectly into this niche. Sometimes, a very specific target market can be a good thing if it is a completely new product.
Why: The people who are inside the boundary are college-age students that study in their respective university libraries for long periods of time. These people set up their things and are in it for the "long-haul" which means that they periodically take breaks to use the restroom or do other things for short periods of time. However, those outside the boundary either only study in the library for short amounts of time where they don't leave their study area, or just don't even study at the library or use a library for that matter.
Who: Throughout each of these 5 interviews, I was able to learn a lot more about my opportunity. I interviewed 3 people that were not college students and because they have no use for a library and don't really spend time at them, they would get little to no use out of the product. I expected this and I understand that my target segment is really only college students that use libraries. That being said, they did think it was a good idea for the UF library system. I interviewed one graduate student and he said that he does most of his studying at home so he would actually have no use for the product whatsoever, he also said that it would be difficult to use because if you went to the bathroom and had your stuff locked up, it would seem like an open desk from afar and this would create many issues. It could also be a potential liability because who knows what type of things people would leave in the lockers. My last interview was with someone who was kind of ambivalent about the idea because she thought that there were too many ways for it to not work properly and it would be too complicated of an idea to implement.
What: This need differs from other needs because it is a unique problem that no one has really found a solution for. While it may be difficult to implement this outside of college campuses, I believe that I have truly struck a potential gold mine that would fit perfectly into this niche. Sometimes, a very specific target market can be a good thing if it is a completely new product.
Why: The people who are inside the boundary are college-age students that study in their respective university libraries for long periods of time. These people set up their things and are in it for the "long-haul" which means that they periodically take breaks to use the restroom or do other things for short periods of time. However, those outside the boundary either only study in the library for short amounts of time where they don't leave their study area, or just don't even study at the library or use a library for that matter.
Inside the boundary
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Outside the boundary
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Who is in: College age students that study in the library for long or short periods of time and leave their things for brief moments to use the restroom or get a quick snack.
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Who is not: Anyone who doesn’t study at the library or doesn’t use a library. In addition to those people, people who don’t get up from their desks while studying are outside the boundary.
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What the need is: This need is the need for peace of mind because theft in UF libraries does happen and this locker system would effectively eliminate that threat.
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What the need is not: The need is not a way to store inappropriate things in the library and reserve your desk for long periods of time. These lockers are for temporary use only, not permanent.
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Why the need exists: The need exists because it is important to be able to secure your belongings when studying and make sure that they won’t be stolen.
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Alternative explanations: If you study with another person, they can always watch your things and sometimes you don’t need to leave your desk to use the restroom while studying so it isn’t a problem.
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Friday, 1 February 2019
8A - Solving the Problem
My product deals with securing the belongings of UF students when they leave their desks to use the restroom or get a drink from a vending machine or water fountain.
Students often worry about what to do at the libraries when they leave for a couple of minutes to get a drink or use the bathroom. With a way to properly secure their items, it would make the libraries much more risk free to use and students will have peace of mind when at the library.
If you are familiar with the combination lockers at Southwest Recreation Sports complex, these desks would act the same way. On the bottom by one of the legs of the desk, there would be locker/lockbox that would be large enough to fit a computer, backpack, or pile of text books and students could quickly enter a passcode on the lock and leave their belongings to go to the bathroom and then come back with their things secure.
Students often worry about what to do at the libraries when they leave for a couple of minutes to get a drink or use the bathroom. With a way to properly secure their items, it would make the libraries much more risk free to use and students will have peace of mind when at the library.
If you are familiar with the combination lockers at Southwest Recreation Sports complex, these desks would act the same way. On the bottom by one of the legs of the desk, there would be locker/lockbox that would be large enough to fit a computer, backpack, or pile of text books and students could quickly enter a passcode on the lock and leave their belongings to go to the bathroom and then come back with their things secure.
7A - Testing the Hypothesis
The Opportunity: All too often, when studying alone at UF libraries, students are fearful to leave their belongings even for the few short minutes when they go to the bathroom because they don't want their expensive books, computers, and other school supplies to be stolen.
The who: Students at UF that study at the library.
The what: They are fearful of leaving their belongings unattended while gone for a few minutes.
The why: Theft is all too common of an occurrence at the UF libraries and students are weary of this.
Testing the who: There are others that share this need. All students that UF that don't study in groups (which is a lot) of people have this need. Everyone goes to the bathroom at some point, and leaving for just a couple of minutes can be the difference between thousands of dollars in personal belongings lost.
Testing the what: I think that the "what" of this problem is not trying to stop theft. No matter what the University does to try to defer theft, it will still be a reoccurring problem and they will find new ways to steal. I think that the desks are the problem and there's a way to make them more secure.
Testing the why: The reason why people have this need is because it is a known occurrence to have belongings stolen and computers and textbooks are far too expensive to leave them out in the open.
Interview 1: For my first interview, I spoke with an undergraduate student that is a freshman and when asked how he felt about leaving his belongings out in the open in the library when he had to go to the bathroom very briefly and he explained to me that he heard of things being stolen and he literally packs up his bag every time he goes to the bathroom. He doesn't focus well when he studies with others so this is his only option to have peace of mind when leaving to use the restroom.
Interview 2: I spoke with someone who works at the front desk of the library and watches how students leave their belongings unattended and they explained to me that they only work on the first floor, which means that on every other floor, the same things are happening except on all the other floors where there isn't someone working there. She knows the possibilities of leaving belongings out like this and wishes there was a way to secure them.
Interview 3: This interview was with an older student in their junior year who explained that they make sure to study with at least one other person so that they can ask them to watch their things while they go refill a water bottle or use the restroom. They explained how some of the libraries at UF are so crowded and full of so many different types of people that it's hard to feel comfortable leaving your valuables out in the open.
Interview 4: I spoke with a student who doesn't even study at the library anymore because she didn't feel safe leaving her belongings out in the open when getting up for a quick few minutes. She understands that theft happens very often and she likes to move around a lot when she studies. She now studied at home so she can leave without worrying about her things.
Interview 5: This student told me how he just leaves his computer and textbooks out when he goes to the bathroom and hopes that there are enough people around to deter a thief from stealing anything. He admits that he just leaves his things based off of good faith and hoping no one would do something but understands that this is not always the case.
Throughout each of my 5 interviews, I found that I actually had a pretty good understanding of this opportunity because I have realized the problem myself multiple times while studying and not knowing what to do when I had to take a bathroom break and risk leaving my things out in the open. From these interviews, I learned that a lot of students had the same feelings and didn't know what to do either.
Friday, 25 January 2019
6A - Identifying Opportunities in Economic & Regulatory Trends
Economic Trends
Opportunity #1 Aging Societies
a). https://abcnews.go.com/International/wireStory/latest-aging-societies-posing-risks-economy-60619596
b). This article explains how aging societies, specifically in Japan pose large threats to their economy because they are still draining the resources from the country but they aren't park of the workforce because either businesses don't want to hire them or they can't work. However, I believe that there is still room for an opportunity because industry can grow around dealing with the growing aging society which will help give jobs to more people and boost the economy.
c). I think that the people that are most likely to be the customers of the opportunity are the elderly people in the growing elderly population that need to be cared for because they aren't an active part of the workforce. The prototypical customer would be an elderly person that needs to be cared for and can't become part of the workforce.
d). I think that this opportunity is relatively easy to exploit because there's a surplus of elderly people that need people to take care of them and there is a country that needs to fix its economy, if you have more people working and adding money to the circulation of wealth in the country, it will boost the economy.
Why: I thought of this opportunity because I watched an episode of a show where there were a lot of elderly people that didn't have anyone to take care of them and weren't part of the workforce, so I immediately thought of this.
Opportunity #2 Global Shipping Decrease
a). https://www.reuters.com/article/us-shipping-economy/global-shipping-rates-slump-in-latest-sign-of-economic-slowdown-idUSKCN1PJ0BQ
b). This article explains how a recent trend in shipping reflects an economic downturn. Recently, the shipping of dry goods, raw materials, finished goods, and other globally ordered products is decreasing. The economic experts say that dry goods are a leading economic indicator. The fact that global shipping is decreasing leads me to believe that there is an opportunity because that means that people are ordering products within their own countries because it's cheaper which means that domestic shipping is increasing which means that there is an opportunity in the domestic shipping industry.
c). The prototypical customer for this type of opportunity are people who ship things domestically such as domestic producers for all different types of products. This is a unique and temporary opportunity.
d). I think that this opportunity is relatively hard to exploit because creating a better domestic shipping industry is much harder than it sounds.
Why: I thought of this opportunity because as I was scrolling through news articles as I usually do to stay informed, I came across this and thought that if global shipping is decreasing, then people still need their products so it must come from domestic shipping.
Regulatory Trends
Opportunity #3 FDA regulations on Juul and other vape products
a). https://abcnews.go.com/Politics/fda-moves-tougher-regulation-cigarettes-juul-limit-sales/story?id=59186897
b). This article explains that the FDA is becoming way stricter on vaping products, specifically the juul. While this product has taken much of the world by storm, the FDA is imposing tough regulations, specifically the flavors of juul pods because they thin that they appeal to younger people. This leads me to believe that there is an opportunity in the nicotine industry. I think there is an opportunity to create more products that help people end their nicotine dependencies because all of the popular flavors of the highest selling nicotine product are being banned.
c). The prototypical customer for this type of opportunity is someone who is trying to end their nicotine dependency because their favorite flavor of juul pod is being banned.
d). I think that this opportunity is easy to exploit because people are always trying to stop juuling and now that the popular flavors of juul are being banned, people will be actively trying to curb their addictions.
Why: I have seen a lot of people try to quit juuling and I feel like there is a huge opportunity for someone to develop a product that enables people to quit juuling.
Opportunity #4 Regulations on types of bitcoins
a). https://cointelegraph.com/news/bitcoin-wallet-xapo-leaves-hong-kong-for-switzerland-due-to-opaque-regulations
b). This article explains that the recent regulations on bitcoin make it much harder to invest in bitcoin. I know that every time there are regulations on bitcoin, they develop a new type of cryptocurrency or blockchain currency. I think that there is an opportunity with this because it will leave room for tangible currency to grow back to its previous value.
c). I think that the prototypical customer for this type of regulation is someone who can buy the debt that people have from failed cryptocurrencies and help them switch their money into different types of accounts that are made up tangible currency.
d). I think that this opportunity is hard to exploit because switching types of currency always comes with lots of complications and it usually takes a very long time to settle.
Opportunity #1 Aging Societies
a). https://abcnews.go.com/International/wireStory/latest-aging-societies-posing-risks-economy-60619596
b). This article explains how aging societies, specifically in Japan pose large threats to their economy because they are still draining the resources from the country but they aren't park of the workforce because either businesses don't want to hire them or they can't work. However, I believe that there is still room for an opportunity because industry can grow around dealing with the growing aging society which will help give jobs to more people and boost the economy.
c). I think that the people that are most likely to be the customers of the opportunity are the elderly people in the growing elderly population that need to be cared for because they aren't an active part of the workforce. The prototypical customer would be an elderly person that needs to be cared for and can't become part of the workforce.
d). I think that this opportunity is relatively easy to exploit because there's a surplus of elderly people that need people to take care of them and there is a country that needs to fix its economy, if you have more people working and adding money to the circulation of wealth in the country, it will boost the economy.
Why: I thought of this opportunity because I watched an episode of a show where there were a lot of elderly people that didn't have anyone to take care of them and weren't part of the workforce, so I immediately thought of this.
Opportunity #2 Global Shipping Decrease
a). https://www.reuters.com/article/us-shipping-economy/global-shipping-rates-slump-in-latest-sign-of-economic-slowdown-idUSKCN1PJ0BQ
b). This article explains how a recent trend in shipping reflects an economic downturn. Recently, the shipping of dry goods, raw materials, finished goods, and other globally ordered products is decreasing. The economic experts say that dry goods are a leading economic indicator. The fact that global shipping is decreasing leads me to believe that there is an opportunity because that means that people are ordering products within their own countries because it's cheaper which means that domestic shipping is increasing which means that there is an opportunity in the domestic shipping industry.
c). The prototypical customer for this type of opportunity are people who ship things domestically such as domestic producers for all different types of products. This is a unique and temporary opportunity.
d). I think that this opportunity is relatively hard to exploit because creating a better domestic shipping industry is much harder than it sounds.
Why: I thought of this opportunity because as I was scrolling through news articles as I usually do to stay informed, I came across this and thought that if global shipping is decreasing, then people still need their products so it must come from domestic shipping.
Regulatory Trends
Opportunity #3 FDA regulations on Juul and other vape products
a). https://abcnews.go.com/Politics/fda-moves-tougher-regulation-cigarettes-juul-limit-sales/story?id=59186897
b). This article explains that the FDA is becoming way stricter on vaping products, specifically the juul. While this product has taken much of the world by storm, the FDA is imposing tough regulations, specifically the flavors of juul pods because they thin that they appeal to younger people. This leads me to believe that there is an opportunity in the nicotine industry. I think there is an opportunity to create more products that help people end their nicotine dependencies because all of the popular flavors of the highest selling nicotine product are being banned.
c). The prototypical customer for this type of opportunity is someone who is trying to end their nicotine dependency because their favorite flavor of juul pod is being banned.
d). I think that this opportunity is easy to exploit because people are always trying to stop juuling and now that the popular flavors of juul are being banned, people will be actively trying to curb their addictions.
Why: I have seen a lot of people try to quit juuling and I feel like there is a huge opportunity for someone to develop a product that enables people to quit juuling.
Opportunity #4 Regulations on types of bitcoins
a). https://cointelegraph.com/news/bitcoin-wallet-xapo-leaves-hong-kong-for-switzerland-due-to-opaque-regulations
b). This article explains that the recent regulations on bitcoin make it much harder to invest in bitcoin. I know that every time there are regulations on bitcoin, they develop a new type of cryptocurrency or blockchain currency. I think that there is an opportunity with this because it will leave room for tangible currency to grow back to its previous value.
c). I think that the prototypical customer for this type of regulation is someone who can buy the debt that people have from failed cryptocurrencies and help them switch their money into different types of accounts that are made up tangible currency.
d). I think that this opportunity is hard to exploit because switching types of currency always comes with lots of complications and it usually takes a very long time to settle.
5A - Identifying Local Opportunities
Opportunity #1
Title: Dog day at beach passes test in Boynton City officials pleased with cleanup efforts last month at Oceanfront Park
Link: http://bi.galegroup.com.lp.hscl.ufl.edu/essentials/article/GALE%7CA570445136/527108b4d00bcb309909346f063a79cc?u=gain40375
Description: This is a problem in my hometown that was actually solved very well but there is an opportunity to be had. There is a beachfront park in my area called Oceanfront Park. This beautiful park attracted all sorts of visitors, including ones that own dogs. People have been complaining for months that they keep walking in "dog poop", the city of Boynton finally addressed the problem by spending hundreds of thousands on renovations on finding a solution for the waste. However, this issue will persist until the renovations are finished.
Problem Description: There are lots of dog owners that bring their pets to the beach wind up leaving waste that causes lots of problems for other beachgoers.
Who has the problem: The beachgoers and residents of the Oceanfront Park area, there are lots of people who frequent the area and the constant presence of dog waste gives them reason for an issue.
Opportunity #2
Title: Police radio fans bemoan agencies' use of encryption
Link: http://bi.galegroup.com.lp.hscl.ufl.edu/essentials/article/GALE%7CA570445137/c5a710ae9bd4a0d5de352c7944e13b8a?u=gain40375
Description: This article is about people that like to stay well informed about the situations that occur near where they live. The way that these people stay informed is through using police radios and listening to the police scanners. They find that it helps them stay better informed because they hear the police reports directly. The police stations have started to encrypt their scanners which makes it so that the residents aren't able to interpret the messages. Their (the police dept.) feeling is that civilians shouldn't be listening to police reports.
Problem Description: Citizens in South Florida are listening in on police reports to stay better informed but the police departments encrypt the messages so that they can't listen in.
Who has the problem: This problem is endured by both the residents and the police departments of the areas where people use police scanner messages to stay better informed.
Opportunity #3
Title: In your community
Link: http://bi.galegroup.com.lp.hscl.ufl.edu/essentials/article/GALE%7CA570566872/759a415a3c39f83763796eff6b42f34a?u=gain40375
Description: Upon first glance, this article just seems like procedural information headlining a meeting that is going to occur soon. But as we look closer, it can be seen that there is a meeting about fighting the addiction problems that are occurring in Palm Beach County. It is written by the American Bar Association that this problem directly affects them because "According to the American Bar Association, because many lawyers and judges are overachievers who carry an enormous workload, the tendency to 'escape' from daily problems through the use of drugs and alcohol is prevalent in the legal community". This article shows the issue that is plaguing the legal industry and those who work for it.
Problem Description: Lawyers, judges and other legal professionals have large workloads and use drugs and alcohol to cope with the burdens.
Who has the problem: The lawyers have the problem of resorting to such measures because of the stress, the people that the lawyers represent have the problem of having drugged up lawyers that have issues because of their workload, and the city has the problem of this issue persisting in such a formal profession.
Opportunity #4
Title: Homeless woes persist downtown At last count the city had 434 homeless people, about 38 of them downtown
Link:http://bi.galegroup.com/essentials/article/GALE%7CA570566924/3e602b122f91c4f82160fea48c72fde8?u=gain40375
Description: This article is about the growing homeless population, especially in downtown south Florida which is a residential area. The article begins with a 70 year old woman who was walking her tiny dog in a stroller and it was stolen by a homeless man. She eventually found her dog after a long time. However the ordeal was very traumatizing. The article then moves to say that the city's efforts aren't enough to curb the homeless population and that it is a bad situation for all involved.
Problem Description: There is a growing homeless population in Palm Beach County area and it is causing more and more problems for the residents of the area.
Who has the problem: The residents have the problem of having a lot of homeless people that can disturb their day to day life, the city has the problem of trying to figure out how to curb this issue, the homeless people have the problem of not having anywhere to go.
Opportunity #5
Title: Trio of Palm Beach County restaurants shut down temporarily
Link: http://bi.galegroup.com/essentials/article/GALE%7CA570057465/a4e2a79481ac6381d89afb7bfc728446?u=gain40375
Description: This article describes how three well-frequented Palm Beach County restaurant were recently asked to close their doors due to failing health inspections. The reasons for the health inspections were everything from roaches to rodents and food being improperly stored. These restaurants have to change their ways in order to be approved by the department of health to reopen.
Problem Description: There are restaurants in South Florida that have been asked to close temporarily due to improper food practices and unclean environments.
Who has the problem: The restaurants have the problem of having to close because of unsanitary conditions and failing inspections, the people who eat at these restaurants have the risk of getting sick from eating the food.
Friday, 18 January 2019
Assignment 4A: Forming An Opportunity Belief
1. I have a belief that an opportunity exists to improve life. My belief is that a lot of students wind up missing assignments due to not knowing about their due dates. I think there should be a system that sends notifications to your phone to tell you about upcoming due dates.
2. The unmet need is that a lot of students find it difficult to keep track of due dates for assignments for certain classes that they are a part of. Although keeping organized and staying on track in school is part of becoming more mature, it can definitely be made easier to do so. This unmet need exists because most college students get caught up in smart phones and using/looking at them constantly. They become aware of this need once they see that their grade decreases due to them missing assignments due to distractions. What students currently do to meet this need is write down things in planners and whiteboards, but this leaves room for human error, which is very common in college students. In this day in age, the culture of being addicted to smart phones is part of life, instead of trying to change it, why don't we use it to our advantage? If there were a system where you could input a canvas course code into an app or software and it would upload all of the due dates of your assignments and when you should start them and send you notifications on your phone in the same way that social media does to motivate/remind you to complete your assignments on time.
3. The prototypical customer is a busy involved college student that has a lot of things on their plate and sometimes forgets about assignments.
4. Interview
Will, Sophomore, 20 years old
When did you become aware of this need?
Will is currently a 2nd year finance major and is very involved both socially and on campus, he has so many meetings throughout the day that he finds it very hard to keep track of everything he has to do, including school work. In his freshman spring, he missed an A in a class by just a couple of points because he forgot to complete a couple of homework assignments because he was so caught up in his activities.
How are you currently dealing with this need?
Will deals with this need now by trying to look at canvas once a day which helps him try to remember when his assignments are but sometimes he forgets to do so. He tries to add dates in a planner but usually forgets to look at it. He relies on friends to tell him when his assignments are due.
Are you satisfied with your temporary solution?
Will says that he is not satisfied with his temporary solution because despite his efforts, he misses assignments very frequently and knows that the completion of these assignments will help his grades greatly and enable him to do better at UF.
Jenna, Junior, 21 years old
When did you become aware of this need?
2. The unmet need is that a lot of students find it difficult to keep track of due dates for assignments for certain classes that they are a part of. Although keeping organized and staying on track in school is part of becoming more mature, it can definitely be made easier to do so. This unmet need exists because most college students get caught up in smart phones and using/looking at them constantly. They become aware of this need once they see that their grade decreases due to them missing assignments due to distractions. What students currently do to meet this need is write down things in planners and whiteboards, but this leaves room for human error, which is very common in college students. In this day in age, the culture of being addicted to smart phones is part of life, instead of trying to change it, why don't we use it to our advantage? If there were a system where you could input a canvas course code into an app or software and it would upload all of the due dates of your assignments and when you should start them and send you notifications on your phone in the same way that social media does to motivate/remind you to complete your assignments on time.
3. The prototypical customer is a busy involved college student that has a lot of things on their plate and sometimes forgets about assignments.
4. Interview
Will, Sophomore, 20 years old
When did you become aware of this need?
Will is currently a 2nd year finance major and is very involved both socially and on campus, he has so many meetings throughout the day that he finds it very hard to keep track of everything he has to do, including school work. In his freshman spring, he missed an A in a class by just a couple of points because he forgot to complete a couple of homework assignments because he was so caught up in his activities.
How are you currently dealing with this need?
Will deals with this need now by trying to look at canvas once a day which helps him try to remember when his assignments are but sometimes he forgets to do so. He tries to add dates in a planner but usually forgets to look at it. He relies on friends to tell him when his assignments are due.
Are you satisfied with your temporary solution?
Will says that he is not satisfied with his temporary solution because despite his efforts, he misses assignments very frequently and knows that the completion of these assignments will help his grades greatly and enable him to do better at UF.
Jenna, Junior, 21 years old
When did you become aware of this need?
Jenna is a junior and has been here since summer B before her freshman year of college. She knows that she has to complete assignments by their due date and that for some classes, completion of assignments is the difference between an A and a B. She became aware of the need to stay on track before college in high school, and knew that the key to being successful in college is staying organized.
How are you currently dealing with this need?
Jenna currently deals with this need by not only checking canvas for all her classes multiple times in the day but also keeping multiple planners (one for each class) that has due dates color coded and a schedule outlined of when she should start her assignments by. She leads a very organized and regimented life.
Are you satisfied with your temporary solution?
She is currently very satisfied with her temporary solution because she doesn't miss any assignments but does mention that she devotes a large amount of time to staying organized and wishes it was easier to do but understands that it is important.
Jeff, Freshman, 18 years old
When did you become aware of this need?
Jeff is a freshman in his second semester on campus, he hasn't had too much difficulty getting adjusted to life on campus and finds that it isn't too hard to keep up with his work. However, as he gets more and more involved at UF, he sees how it can definitely be a challenge to remember when your assignments are due when your head is full of dates for so many other things.
How are you currently dealing with this need?
Jeff, like many of his peers has experienced a fair bit of trial and error when trying to figure out what works for him. He has tried planners and explained that they were too much work and he sometimes would forget about writing in them. He tried setting alarms on his phone but that didn't work for him because he had to remember to set the alarm which he would sometimes forget to do. Right now he checks canvas and tries to do assignments as they come which he said is a good strategy but he's fearful for what will happen once his schedule ramps up.
Are you satisfied with your temporary solution?
Jeff says that he is currently satisfied with his solution but he understands that it won't work forever. He knows that as a freshman, his schedule in terms of coursework and involvement is not very tough. He is worried for what he is going to do once things start to speed up and his life gets far busier than it is now.
5. Reflect
After interviewing these 3 very different types of students, I was very surprised to hear the different ways that students stay on track or fall off track. From Will, I learned that a very motivated student might have trouble in some areas such as organization because he is so ambitious and does so many things that crowd both his mind and his schedule. I learned that very regimented students like Jenna don't really have a problem staying on track with their assignments. I learned that underclassmen like Jeff try many different things to stay on track before they find something that works well for them. I was so surprised to see how people adapt to their environments and schedules.
7. Summarize
I think that my opportunity is definitely still existent. While it might not work as much for students that are very on top of their schedules, it definitely will work for both unmotivated students that frequently forget about assignments as well as students that are involved in so many things that they become scatterbrained. It can work for multiple types of students, but not everything works for everyone (as I learned from my interviews). I believe that my new opportunity is more accurate than when I started because now I know exactly who to target. I think that there definitely is a tradeoff between adapting and staying firm when it comes to your opportunities. People change and are very fickle and if we can adapt to their needs as their needs change, it will be beneficial for both sides. However, it is also sometimes good to stay firm and let people grow around your concept.
Assignment 3A - My Entrepreneurship Story
The first (and most memorable) time I was exposed to entrepreneurship was when I was in my freshman year of high school and in one of my classes, the teacher showed us an episode of shark tank and I was amazed by the way that people were able to see parts of their daily lives that could be improved and then had the wherewithal to come up with a product to improve life that people actually used. I went home and watched 4 more episodes and I've been interested in the topic ever since.
I enrolled in ENT3003 because I wanted to learn more about entrepreneurship and how it was actually done. I've never really had experience with the topic in a classroom setting and I was very curious on the actual principles of such a large area of study. I want to gain a real understanding on how to monetize something while improving the quality of life.
<--- me on the first day of high school in the year when I first learned about entrepreneurship
I enrolled in ENT3003 because I wanted to learn more about entrepreneurship and how it was actually done. I've never really had experience with the topic in a classroom setting and I was very curious on the actual principles of such a large area of study. I want to gain a real understanding on how to monetize something while improving the quality of life.
<--- me on the first day of high school in the year when I first learned about entrepreneurship
Assignment 2A Bug List parts 1-3
20 bugs for my bug list
1. Hair gets frizzy in humid weather
Exists because: The warm, wet air causes hydrogen bonds to form in your hair making it curl
2. When there are thin walls in a house and it is hard to sleep
Exists because: Sound easily travels through the walls and distracts you from sleeping
3. When the plates and bowls don't fit in the dishwasher
Exists because: The shapes of the bowls and plates don't fit together in the tiny space
4. When there is bad traffic around 4:30-5pm
Exists because: Most people are getting off from work and it is rush hour
5. When the gym is super crowded in January
Exists because: People usually have new years resolutions to work out more which makes it crowded in the early months of the year.
6. When my hand cramps up from typing a lot
Exists because: Moving your fingers very fast can cause the hand to cramp
7. When the McDonald's order comes out wrong even though you ordered it the right way
Exists because: The fast food concept usually values speed over accuracy
8. When an Amazon order doesn't arrive when it was scheduled to
Exists because: Weather delays or other unforeseen circumstances cause the package to arrive late
9. When my phone automatically connects to the wrong wifi
Exists because: Most smartphones automatically try to connect to the first wifi network they find
10. When people stand in front of the TV during a game:
Exists because: People get excited and forget about being considerate
11. When people chew gum loudly
Exists because: Chewing this way allows you to get the most flavor out of the gum
12. When an uber driver goes to the wrong location
Exists because: There is a lot of unfamiliarity with uber drivers in certain areas
13. When you have to wait a long time for a piece of equipment in the gym
Exists because: Gyms get very crowded at certain times of the day which makes equipment scarce
14. When there are long lines to get into a venue
Exists because: More people go to the venue than there are capacity for
15. When the calculator runs out of batteries
Exists because: The technology of the calculator is cheap and doesn't use the battery efficiently
16. When the air conditioning breaks
Exists because: Overuse of the A/C makes it break down fast
17. When you can hear the music that people that people have in their headphones
Exists because: People play music loud and the headphones can only do so much to keep the noise in
18. When you try to have a conversation with someone and they have air pods in and you can't tell
Exists because: The headphones are small and you can't tell that people have them in
19. When the lead on your pencil breaks while writing
Exists because: The pencil lead is cheap and thin and breaks easily
20. When the bathroom steams up and the mirror fogs while you take a hot shower
Exists because: The hot water gives off steam which fogs up the reflective surface
Reflection
Some of the challenges that I faced while creating this blog post were remembering the things that bothered me in the past while I was not currently in the moment. I had to use my memory to think about what parts of my daily routine were inconvenient and could be improved. I also am a relatively relaxed person so I usually brush off a lot of things that would bother most people. This assignment has helped me to think about day to day life and how there are a lot of things that could be improved with simple adjustments.
1. Hair gets frizzy in humid weather
Exists because: The warm, wet air causes hydrogen bonds to form in your hair making it curl
2. When there are thin walls in a house and it is hard to sleep
Exists because: Sound easily travels through the walls and distracts you from sleeping
3. When the plates and bowls don't fit in the dishwasher
Exists because: The shapes of the bowls and plates don't fit together in the tiny space
4. When there is bad traffic around 4:30-5pm
Exists because: Most people are getting off from work and it is rush hour
5. When the gym is super crowded in January
Exists because: People usually have new years resolutions to work out more which makes it crowded in the early months of the year.
6. When my hand cramps up from typing a lot
Exists because: Moving your fingers very fast can cause the hand to cramp
7. When the McDonald's order comes out wrong even though you ordered it the right way
Exists because: The fast food concept usually values speed over accuracy
8. When an Amazon order doesn't arrive when it was scheduled to
Exists because: Weather delays or other unforeseen circumstances cause the package to arrive late
9. When my phone automatically connects to the wrong wifi
Exists because: Most smartphones automatically try to connect to the first wifi network they find
10. When people stand in front of the TV during a game:
Exists because: People get excited and forget about being considerate
11. When people chew gum loudly
Exists because: Chewing this way allows you to get the most flavor out of the gum
12. When an uber driver goes to the wrong location
Exists because: There is a lot of unfamiliarity with uber drivers in certain areas
13. When you have to wait a long time for a piece of equipment in the gym
Exists because: Gyms get very crowded at certain times of the day which makes equipment scarce
14. When there are long lines to get into a venue
Exists because: More people go to the venue than there are capacity for
15. When the calculator runs out of batteries
Exists because: The technology of the calculator is cheap and doesn't use the battery efficiently
16. When the air conditioning breaks
Exists because: Overuse of the A/C makes it break down fast
17. When you can hear the music that people that people have in their headphones
Exists because: People play music loud and the headphones can only do so much to keep the noise in
18. When you try to have a conversation with someone and they have air pods in and you can't tell
Exists because: The headphones are small and you can't tell that people have them in
19. When the lead on your pencil breaks while writing
Exists because: The pencil lead is cheap and thin and breaks easily
20. When the bathroom steams up and the mirror fogs while you take a hot shower
Exists because: The hot water gives off steam which fogs up the reflective surface
Reflection
Some of the challenges that I faced while creating this blog post were remembering the things that bothered me in the past while I was not currently in the moment. I had to use my memory to think about what parts of my daily routine were inconvenient and could be improved. I also am a relatively relaxed person so I usually brush off a lot of things that would bother most people. This assignment has helped me to think about day to day life and how there are a lot of things that could be improved with simple adjustments.
Monday, 14 January 2019
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