Final Reflection

What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

- For me I think the most joyous experience in this class was creating the avatar of my imaginative customer. It was kind of fun to actually create a visual representation of it as well as a descriptive representation. It helped me realize the exact type of customer I was targeting which gave me insight for my product. I will definitely remember this class years down the road and the lessons of entrepreneurship it has taught me.

At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

- I don't necessarily see myself as an entrepreneur because I have yet to start any business. However, I have learned important lessons about how to develop a product, find consumer needs, and to get a personal perspective of your own business. So this class has definitely helped me gain the knowledge to become an entrepreneur.

What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

- To students taking this course in the future, I recommend to stay on top of the assignments because they can jump out at you when you least expect it. And when actually doing the assignments, to put effort and to be honest. Talk about things that actually interest you and to be yourself. It will make doing the assignments a lot easier.

Venture Concept No. 2

Opportunity: The opportunity I have identified are college students, typically sophomores and freshman, who have moved into any dorm on the University of Florid Campus. The need I have identified is the fact that new residents that move into dorms are uninformed or misinformed about the parking around their dorm, maintenance services that is included with their payments and the package receiving process that is similar in all dorms. The new resident that move in are in a completely new environment, without their parents and are unfamiliar with their new living situation. On top of this, the residential assistants are not always the best in providing information and insightful knowledge about their new surroundings. This leads to miscommunication, unexpected expenses and confusion. This is a constant problem that if not changed by the residential assistants, will always be a problem.

Innovation: The innovation I have invented is an application that all students who live on campus can access that connects to the dormitory they live in. This application will link to an informational system, depending on which dormitory they live in. It will provide all the information they need about the maintenance services that are provided, the specific decal that is required to park around their dorm, and the package receiving process. Along with the package receiving process information, their will be a service where residents are notified through the app when their package has been received. This is not an application that people will need for the rest of their life, therefore, it will be a one time charge to purchase the application for $2.99.

Venture Concept: This innovation will solve the problem of residents being confused, misinformed or uninformed about their new dormitory environment. It will avoid residents being charged parking tickets when they park around their dorm therefore avoiding money loss. It will give them a platform for package receiving so that they know exactly when they're packaged has arrived. This application will also provide information about all of the maintenance services that are included with their payment to live there. Most residents are unaware of this and therefore do not feel like their problems can be solved. Residents will purchase this product because it will make their life easier with less to worry about.

Your Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

- In the next 5 years, I do intend to have my business either up and running or in the beginning of that process. I do intend to stay with it for a few years, to make some extra money on the side but I would never treat it as my main job. Therefore, I would retire in a few years. I do not think I would pass it down to my travel because it is a one-hit-business, in my opinion.

2) Why have you selected this particular exit strategy?

-The business is not a long term business because it does not have long term success potential.

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

- I think that because this business is not going to last very long because of other goals I plan to focus on, I have not put in much thought on all the factors of my application and have not looked into perfecting my product.

Reading Reflection No. 3

Thinking fast and slow by Daniel Kahneman

1) What was the general theme or argument of the book?

- The general theme of the book is that your behavior is determined by two systems in your brain; one is fast and automatic and the other is slow and more deliberate. Together, these two systems are in charge of determining judgement and choice. Kahneman does a very good job including biases and scientific explanations for his claims.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

- This book is very science based which is mot what ENT is about. But I guess this book can relate to how our customers make decisions or judgements about products and could help accommodate those predicted wants and needs.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
- I would give the class multiple types of puzzles and have everyone predict which system of their brain they think they used

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

- The biggest surprise about this book is a quote that was said about the author "Kahneman believes that the concept of risk is a human invention. They designed it to assist them with the navigation of dangers, fears, and uncertainties. Kahneman explains that there are real dangers and uncertainties, however, the concept of ‘real risk’ or ‘objective risk’ does not actually exist." 

Basically saying we are the ones who create the risk which does not make much sense to me but I understand that we create how big the risk would be in our heads

Celebrating a Failure

1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time. 

- This semester, I am taking a Biology class and the only three exams that we take in this class are pretty much the biggest percentage of our grade. I knew this class was going to be difficult for me, considering I have no Biology terminology or was used to studying very much. The first examI studied a week in advance and I received a 51% (which of course to me that was a failure). For the second exam, I studied two weeks in advance, went to SI sessions, review sessions, printed out and completed worksheets, tested myself, studied with friends and I received a 68% (it was better than the first exam but it was still a failure to me.

2) Tell us what you learned from it.  

- I learned that everyone has their strengths in certain areas and also their weaknesses. I learned that even though it was frustrating to not see the results I wanted, I had to not stress about it and put myself down because that wasn't going to help anybody, especially me. I had to figure out what I did, plan how I can do it better and hope for the best.

3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were just a few months ago?

- I think failure is one of the best and educational things that can happen to an individual. By educational I mean it teaches an individual about themselves, how they deal with different situations and how they overcome. These factors say a lot about ones characteristics. Emotionally, at first, I am hard on myself and feel that I could've done something better and that I didn't do something right. Behaviorally, no matter how I'm feeling, its pushed to the side for the time being so that I can focus on the many other aspects of my life I need to be productive in. You can't let any failure let you down cause life will keep going.

Your Ventures Unfair Advantage

1. Social Capital
2. Personal Relationships
3. Personal Experience
4. Relatable Opportunity
5.

Venture Concept No. 1

NOT DONE

What's Next?

NOT DONE

Elevator Pitch No. 3

https://youtu.be/Fhk98J4ycK4

Reflection: I think most of the feedback given to me was insightful and useful. I keep getting the same feedback about my tone of voice and how I need to sound more excited for my product. I always seem to get nervous when presenting or in front of the camera and I still need to work on it.

What I changed based on feedback? I attempted to change my monotone voice but no matter how many times I recorded myself I still feel like it is a weakness of mine.

Reading Reflection No. 2

The book I chose to read is The New Psychology of Success by Carol Dweck

1) What was the general theme or argument of the book?

• The general theme and lesson of the book was that success can be reached by your beliefs and your mindset. She categorized the unsuccessful and successful mindsets into two categories: fixed mindset and growth mindset. She explained that fixed mindset people feel that their skills, potential, talents, etc. are fixed at birth and can no longer change. Growth mindset people believe that your talents and potential cannot be measured and that they constantly stretch and grow.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

• This book talked about the mindset necessary for you to be a successful leader, entrepreneur, etc. This class is expanding our mind on what it takes to think outside the box, thinking about consumer approach, demander perspective, etc. If you have an optimistic and determined mindset throughout your entrepreneurial career, even if you have many falls, you will come out successful.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

• I would create multiple scenarios that are common in the work place and personal life that are challenging to most people. Such as: a boss turning down your promotion or a relative telling you that you'll never make it. With these scenarios, the class will determine what their response, mindset and next step would. These responses will determine whether the student has a fixed or growth mindset.

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

• The biggest surprise to me was when the book was discussing at what age these mindsets are developed. Studies have shown that these mindsets are developed at around the age of four. I always thought that these mindsets developed at an age where you have a better understanding of future challenges and the environments around you.

Growing Your Social Capital

Domain Expert:
1. Who they are, and what is their background: David, entrepreneur.
2. How this person is a "domain expert": David is an entrepreneur who creates and manages applications for a living
3. How I found and contacted this person: He presented himself in the entrepreneurship club on UF campus.
4. Nature of exchange: What they did for me, what is the return expectation: He was not expecting anything in return, he was happy to give me his feedback and advice.
5. How will including them enhance my ability to exploit an opportunity: He has entrepreneurship knowledge and knows how to start a business or service from just an idea.
Market Expert:
1. Who they are, and what is their background: Stephanie, Resident assistant on UF campus
2. How this person is a "market expert": She is an employee at a dorm on campus, therefore being aware of most resident issues.
3. How I found and contacted this person: I also work at the Beaty dorm on campus, she is my coworker.
4. Nature of exchange: What they did for me, what is the return expectation: She was happy to give her opinion on what issues she believes residents face.
5. How will including them enhance my ability to exploit an opportunity: She has experience and knowledge with potential customers and therefore is an asset to proposed ideas for this product.
Industry Supplier:
1. Who they are, and what is their background: Robert Larson
2. How this person is an "industry supplier": Robert is a current application manufacturer
3. How I found and contacted this person: UF students were presented his name and his credentials
4. Nature of exchange: What they did for me, what is the return expectation: I emailed him and informed his of this assignment and he was happy to give me any type of advice related to this subject
5. How will including them enhance my ability to exploit an opportunity: He has current ad past experience in manufacturing applications, making them look presentable, easy and accessible to the public.
Reflection:This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?
-This experience will teach me which people to network, what background they should have and how that will benefit my product.

Idea Napkin No. 2

1. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

• My name is Karina Pizarro and considering the feedback that I received, I can declare that I am a very outgoing and friendly person who genuinely cares for the wellbeing of others. I am empathetic and always try to understand the problem and feelings of the people around me. My experiences in customer service has led to the development of these characteristics and I continue to grow in other ways as well.
• My aspirations for this business are to put myself in the customers shoes to discover more in depth ways to solve the opportunity to meet their needs. I can see this business playing a role in growing my professionalism.

2. What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).

• With my product of an application that allows student residents to have easy and accessible information and services at their fingertips, It will allow them to take one thing off their plate so that they may focus on their education and other duties. It will also allow them to be better informed of their new residential environment

3. Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

• I am offering this product to college students, typically first and second year, who live in dorms on campus and struggle with adapting to their new environments. I hope to provide them a platform that will allow them to accustom to their new college environment, usually away from home.

4. Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

• The targeted customers will care about this product because it will help them adjust to their new, unknown environments. It will be easier for them to manage their busy lifestyle and focus on different priorities. This will allow for one thing on their plate to be easier.

5. What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

• I don't believe anyone else has thought of this opportunity. I think it is very overlooked and undervalued when many residents go through these issues that can easily be resolved. I have determination to solve this need and have the customers best interest.

Feedback Memo: The feedback informed me that I must look at multiple perspectives, not just the customers but, in this case, the parents of the customers. I know I must consider them for this product because most first and second year students still depend on their parents support. This feedback will be useful in deciding how much I will charge for the app and what benefits I should include to make them want to pay for it.

Create a Customer Avatar

     This is Emma Rose. She is a freshman at the University of Florida and is majoring in journalism. She enjoys reading fictional novels and creating ceramics on her spare time and her favorite T.V show is criminal minds. She drives her dads old red Toyota corolla and lives at Beaty Towers, a dormitory on campus. She is 18 years old and is eager to pursue her dream of being a news reporter.
     Emma is from California, where to most people see it as a tourist attraction but to her, is it a place with interesting discoveries, which has been her inspiration since she was a little girl.

What do I have in common with my avatar?My avatar and I have our age group in common are in the same position in our timeline. We are both pursuing our goal by attending school. Like many people my age, I strive to do something that makes my parents proud and also makes me happy. Emma rose also strives for the same and has much determination and hope for the future.

It is not a coincidence. Any typical freshman or sophomore who has not lived outside of home would be very unfamiliar with the campus life and so it was not difficult creating an avatar that would fit as a perfect customer.

Elevator Pitch No. 2

https://youtu.be/yvQltA-hTws

Reflection of Feedback: Based on the feedback given, I realize that the way you present yourself, the tone you're using, how you're dressed and the potential of your product is very important when your presenting in front of individuals who are basically judging your legitimacy and credibility. If you don't sound excited about your product, why should anyone else? If you don't seem like you put much effort in your product, why would anyone want to listen?

What I changed, based on feedback: I attempted to change my wording and how I expressed my product. I am a bit nervous in front of the camera so it is difficult to overcome my nerves and change my tone but it is a work in progress

Halfway Reflection

1.  What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 
- Time management is definitely a characteristic I've had to develop in order to keep up with this class. Sometimes you don't realize that the assignments are time consuming and your time must be managed. I've also developed to be more prone to thinking outside of the box. Sometimes we don't realize that we are only revealing the surface of something and in this course we are asked to think even deeper about a certain concept or "opportunity" and that has taught me to look at daily things in different perspectives.

2. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
- I haven't had any experiences where I've felt as if i wanted to "give up". However, I have felt very frustrated or hopeless sometimes to achieve a certain result that is difficult. Such as, getting better on certain tests and going over the same concepts that I'd continuously get wrong or misunderstand or not memorize. In those times, I take a break to think about what I need to do and change my attitude into positive energy.

3. Three Tips:

• 1. Time management- these assignments can catch up to you if you underestimate them, which will result in not being able to submit it on time or turning in a poorly done assignment. Plan your week ahead, not just for this class but for all of your classes. Therefore, your week is planned and organized.
• 2. Stay positive - Being in school, taking classes, working, volunteering, etc. can cause overwhelming and frustrating feelings. It's important to not let this energy affect your work and life and to remember that all of this is for a reason.
• 3. Stay determined - It can be easy to allow frustration to overcome and get the best of you. Consist a stead and strong mindset about not just school but daily life.

Reading Reflection: Steve Jobs

1) You read about an entrepreneur:

·       What surprised you the most?

-       I had no idea that Steve Jobs was an orphan child and adopted graduate students. I found his birth parents very interesting; how they could not keep him because of religious reasons but still wanted him to be adopted by parents that would secure his educational future.

·       What about the entrepreneur did you most admire?

-       The main thing I admired about Steve Jobs is what can be admired in many other famous entrepreneurs or inventors that have left a legacy, which is persistence and determination, even after failure.

·       What about the entrepreneur did you least admire?

-       The book portrays him as an arrogant person who was not liked many people. This had an effect on his early work life and relationship with his adopted parents.

·       Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

- Yes, with his initial release of the Mac in 1984, he experienced setbacks because of competition. He came back with a Super bowl commercial that spiked publicity in the Mac.

2) What competencies did you notice that the entrepreneur exhibited? 

- Steve Jobs exhibited what his team called reality distortion field (RDF), which meant that when Jobs decided something should happen, he would make it reality, and this spread throughout his team.

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

- The reading talks about the 1984 Super bowl commercial on Jobs new Mac and how it spiked publicity. So, I looked it up and I don’t quite understand the setting and how it relates to the message.

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

- What do think when there are people telling you that your ideas will never make it or that you’ll never make it?

·      I feel as though every entrepreneur goes through this struggle.

- Do you have any regrets in the relationships you had over the course of your life?

·      As someone who must spend most of his/her time on their invention or idea or business, it can be very easy to lose focus of all the other important aspects of your life.

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

- I think Steve Jobs was hungry for new ideas and those ideas becoming reality, while convincing everyone else to agree. His main message is that any goal or dream you have has the possibility of becoming reality and I do believe that as well.

Figuring Out Buyer Behavior

Choosing a segment and my interviewees:

For this assignment, I chose the segment of first and second year college students. All three of my interviewees first and second year students which means this their first time away from home and their parents, and being in a new environment without them. The first is a biology major heading towards the pre-med track but still considering other opportunities. The second is a psychology major with the goal of being a social worker or psychologist. And the third is a chemistry major with the hopes of being a dentist in the future.

Interview Information:

Interviewee #1: Brian (biology major)

When did you become aware of your need?
-Well, considering I no longer live on campus, I no longer have this need. However, I realized this became a need once I moved from home into a dorm on campus. I was unsure of the new environment and how to do certain things, and I also felt like I wasn't very informed.

What is something you do to try and solve this problem?
- I would usually ask my parents or my roommates on their input or if they knew something I didn't.

What was your source of information?
- I knew that there was a desk assistant at the Beaty area desk but they would usually give us vague and confusing answers and if the desk was closed, they were unavailable.

Do you talk to friends, roommates and neighbors about problem?
- I would ask my parents what I should do and who to talk to. I would also ask my roommates if they knew the answer to my problem.

When you search in google, what are your search terms?
- Looking on the website for Beaty towers is sometimes helpful but does not always provide me with the answers that I am looking for.

Interviewee #2: Michelle (psychology major)

When did you become aware of your need?
- I became aware of my need when I moved to Beaty towers and was unsure about our maintenance services and how we receive packages.

What is something you do to try and solve this problem?
- I usually try to ask the desk assistant if the desk is open but if not, I'll just try to ask my roommates.

What is your source of information?
- I try to ask my friends who have lived in dorms before or i'll ask my parents.

Do you talk to friends, roommates and neighbors about problem?
- I usually ask my roommates and friends about this problem.

When you search in google, what are your search terms?
- There is a Beaty Towers website but it doesn't answer the questions I have. It's only meant for people who are looking to live there. The information is very broad.

Interviewee #3: Pratt (chemistry major)

When did you become aware of your need?
- I became aware of my need when I started living in a dormitory setting and realized that I was one out of many residents who were unsure about the same things.

What is something you do to try and solve this problem?
- I'll first try to ask my roommates and if they are unsure then I'll go downstairs and ask the desk assistant.

What is your source of information?
-I think my most reliable source is the desk assistant or anything I can find on the Beaty towers website.

Do you talk to friends, roommates and neighbors about problem?
-Yes I do, I'll first ask my roommates my question to see if they know.

When you search in google, what are your search terms?
- Like I said before, there is a Beaty towers website but it doesn't answer the specific questions I have. It's more people who are looking to move in.

What I learned:

I learned that the un-met need that I have identified is only present with the interviewees who live in a dormitory on campus. Two of my interviewees live at Beaty Towers and the other lives at Gainseville Place Apartments. I have discovered that because the apartment environment is usually familiar in the way packages are received, the parking regulations and maintenance services, there are not many questions on their new living environment and therefore, there is less confusion. However, for my two interviewees who have been introduced to a completely new environment, they are unfamiliar with these aspects and must be informed of these new processes and the ways to deal with them. Also, because they are just coming from home, they have never had to deal with most of these aspects of living, it was always the responsibility of their parent/guardian.

When searching for solutions to the problem, I found that when the interviewees have questions about any services, they tend to either ask their roommates, neighbors or the desk assistants working at the area desk. These sources are not reliable all the time because neighbors and roommates may not know the answers and the desk assistant is only reliable during their work hours, which is nnot all the time.

How I would describe the segment:

The students who usually live in dorms are first and second year students. They are not used to being away from home which means they are sometimes naive and unfamiliar with how to take responsibility. This segment correlates with majority of the people living in dorms.