30A Final Reflection

What sticks out to you as the most formative experience? 

I think the most formative experience in this course was the first idea napkin because that's when we first really had to lay out our idea or opportunity as we started to work on it.

The experience that you'll remember years later? 

I think the experience I'll remember years later is the elevator pitches. These are a useful skill to have not only as an entrepreneur but in business in general. It really helps if you can convey your ideas quickly and concisely to an audience.

What was your most joyous experience? 

My most joyous experience is probably writing this post because it means that I am finished with the work for this class. I don't mean this in a negative way but at the start of the semester looking at a workload of 30 blog posts and 60 peer reviews it feels good to have made it through.

What experience are you most proud of yourself for accomplishing?

The experience I'm most proud of myself for accomplishing is the "growing your social capital" assignment. I typically don't go out of my way to meet new people but that assignment pushed me to do it.

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? 

I would say that I see myself as more of an entrepreneur than I did at the beginning of the semester but I wouldn't say that I see myself as an entrepreneur because I'm not actively involved in a business venture.

Do you think you have moved closer to developing an entrepreneurial mindset?

I definitely have moved closer to having an entrepreneurial mindset. The initial assignments about identifying opportunities helped the most with this and set the tone for the course in developing this mindset.

What is the one recommendation you would make to the students who are going to journey down this path in the future? 

Stay on top of your assignments. It's easy to lose track and miss the deadline for some posts especially because the due date is at noon instead of midnight like every other class.

What would you recommend they do to perform best in this course? 

Map out all the deadlines for the semester in a google calendar or something similar so that you don't miss any deadlines.

What would you recommend they do to foster that mindset?

Think about possible opportunities as you walking around in your daily life. Observe your surroundings and look for ways to improve them.

29A Venture Concept No. 2

Opportunity

The opportunity or unmet need that I have identified in this course is the difficulty of finding shoes that fit well and fit the individual style of men whose shoe size is 13 or above. At the moment my customers would be men who struggle with finding the right size shoe. This is a global market that is not restricted to any one geographical location. Demographically, these customers do not fit in to any one race, nationality, or religion, but they are typically taller individuals who care about the shoes they use whether it is solely for style purposes or for an athletic need. A large proportion of athletes, specifically in sports like football and basketball where the players are large and their shoes are critical to the sport they play, have this same unmet need. Currently, customers satisfy this need with hours of online search. It's mostly online because in-person stores typically only carry up to a 13 and that's only in a few of the most common shoes they sell. Another way customers deal with this need is they find one or two pairs of shoes that they like and continuously buy the same ones every time they need new shoes because they don't want to spend the hours it takes to find a new pair that is their size and preferred style. I believe that these customers aren't loyal to the current method at all and would be more than willing to switch to something that makes this process easier. Unfortunately a better method has not been introduced yet, which is where the opportunity lies within this industry. Currently about 18% of men in the United States wear a shoe size that is 13 or above. This is about 63 million men just in the U.S. alone. Across the world this number would be multitudes higher than 63 million. From these numbers I would say that this is quite a large opportunity to gain a customer base that needs an easier way to shop for shoes. In terms of how long this opportunity will be open I believe that there is no time like the present. I can't say how long it will be open because as technology becomes more ingrained into every facet of our lives, it will be used to solve every problem under the sun, and it's only a matter of time before it's used to solve the opportunity I've presented here.

Innovation

How I would meet this need is to create a website to serve as a one stop shop for these customers. The plan is to compile all the shoes that are offered in sizes 13 and above from the most popular shoe brands across the internet into one place that customers can use to cut down on search time and find the shoes they want. On top of just offering them all in one place I would like to implement a system that allows customers to try the shoes on before buying them. Trying on the shoe is a critical part in the purchase decision in terms of making sure the profile of the shoe matches your style or look. The way I see this working is customers find a shoe they would like to try and select it. They would put down a payment method that is checked to be valid and will receive a hold for the full amount of the shoe to make sure they can afford them. The shoes are then shipped to them for a 3 day trial period from the day they receive them which will start from the time they are delivered, which we will know from the tracking information on the package. If they decide to keep the shoes the payment method they provided will be charged for the full price of the shoe. If they decide they don't like the shoe they will be provided a return label in the original box that they can use to return the shoes and the hold on the card will be released provided there is no damage to the shoes upon return. This method provides everything they need for a purchase decision that an in-person store provides but in an online format that removes the costs associated with a physical space. Since we are already going to have to clean shoes that are returned we can also offer a cleaning/refurbishing service for shoes that the customer already owns. Customers can send their shoes in, pay a cleaning fee that's dependent on the level of damage to the shoe. On top of everything else, a popular website also provides the opportunity to monetize with ad space as well.

Venture Concept

I think customers will switch to this because it will cut their search time substantially and makes the process incredibly easy for them. This would provide them all the same resources as an in-person store without them having to leave the house. I don't think it will be hard to get people to switch with the right types and quantity of advertising to increase the customer awareness of the convenience this would provide. I would not be a manufacturer of shoes so I wouldn't be competing with the big names like NIKE or Adidas. In addition to this, I haven't come across or heard of a similar service to this so competition would be low in the beginning. The most important part of this venture is the customer service and customer experience involved. Providing a better experience than what is currently available is the main defining aspect of this business concept. In terms of organizing a business around this I would have the typical executive officers like CEO, COO, CFO, and CMO. In addition to that I would need people to track inventory and control shipping and returns, people who will clean and refurbish the shoes, as well as customer service reps to deal with customer problems. The number of employees would be dependent completely on how much traffic and sales we have in the business to handle the operations.

The Three Minor Elements
1) My most valuable resource in my opinion would be the fact that I have the same unmet need as the customers I'm trying to serve. This helps me to understand additional problems I could offer solutions for. Also, this allows me to find additional unmet needs than a competitor who has to search for the problems instead of seeing them on a day to day basis.

2) The next opportunity I would like to tackle is women's shoes as well. I currently don't know the comparable size in women shoes that this service would fulfill but it would be relatively easy to integrate that.

3) In five years with this venture I would want to be over one million site visits and over 100,000 orders. As an entrepreneur in the next decade I would like to still be focusing on this venture until I believe I could put it in the hands of a new person and step back as CEO to pursue other ventures or sell the business for a fair price.

Feedback

The good feedback I received talked about how the one stop shop idea was good and that customers in this time prefer that level of service from the places they shop. In addition, they thought the broadness of the opportunity being in shoes was important. Everyone wears shoes so it's not bound to any specific demographic. The thing people thought I should change is my 5 year goals and that they were a little ambitious

Changes

What I changed based on the feedback were my goals. I still the the one million visits to the site is reasonable but I lowered the order goal from five hundred thousand to one hundred thousand. I also added the idea of a cleaning service for both returned shoes and as a stand alone service as part of this venture concept. I also tweaked some lines to make the idea clearer and fixed any typos I missed the first time.

28A Your Exit Strategy

1) I think if I were to pursue this venture, my exit strategy would be to build value for a few years and then sell the business. To me, this doesn't seem like a business that could grow to be a large company and therefore while it could be successful in its own right, I think the ceiling for growth will be hit fairly quickly.

2) I chose this exit strategy because I dont think this is something that I would want to pursue over a long time because I would much rather work my way up in an already established and secure company.

3) I think my planned exit strategy probably has affected some of the other decisions I've made throughout the class. I think it made it harder to think about log term goals for this business because I wasn't planning to stick with it long term. It also influenced my opportunity decision because I chose something that was relatively niche and wouldn't take long to set up.

27A Reading Reflection No. 3

Book: Mindset: The New Psychology of Success, by Carol S. Dweck.

What was the general theme or argument of the book?

The general theme of this book is distinguishing between the two types of mindsets, which are a fixed mindset and a growth mindset. A fixed mindset is one that believes that a person's abilities are set and avoids trying things that they do not believe they can do. A growth mindset believes that a persons skills and abilities can be improved and will try new things to cultivate or improve new and existing skills. The book then argues why the growth mindset is more beneficial.

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

This book actually connects to blog post 26 about failure. The fixed mindset avoids new challenged because of a fear of failure, while the growth mindset will try new things regardless of the opportunity for failure. So the blog we just did on failure reaffirms a lot of what the book discusses.

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

The exercise I would suggest is to try 5 new things that require skills you are weaker in throughout the course of the semester and to document them with successes or failures. If they believed they failed make them reflect on the activity and ways they could improve. I think would show the students the ways a growth mindset could help them in life.

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?

For me this would be when Carol Dweck says that a persons mindset is a choice that they make themselves. While there are outside influences that shape our mindset growing up, it is never set in stone and can be changed. I thought this was interesting because before reading this I never really thought about my own mental attitude in this way and it allowed me to think about choices I can make to improve my mindset.

26A Celebrating failure

This semester I failed in my goal of staying consistent with my workouts in the gym. Last spring and summer I was able to do this successfully going 3-5 times a week and eating right. However, this semester I cut back to 2-3 times a week after taking two weeks off before the fall began. This seemed like a better regiment for me with how much busier my schedule had become, but about halfway through I got lazy and couldn't find the energy to stay consistent in my goal. Eating healthy has also become harder this semester because I am now on a meal plan and the options for meals are more limited compared to last year when I had a kitchen and could cook for myself. This failure is less embarrassing from an external perspective and more from an internal perspective where I feel disappointed in myself.

I think what I've learned from this failure is that I just need to hold myself more accountable to achieve my personal goals. No one else is going to do this for me so it is up to me to self-motivate and stay on track.

Failure is definitely difficult to handle in the moment, but it's something that everyone experiences from time to time. I try not to dwell on failure for too long because I believe it's somewhat counterproductive. What's done is done and I learn my lesson to avoid the same failure in the future. I don't know if this class has increased my likelihood to take risks but I do believe that taking risks in life is an important aspect of growing as a person and with them sometimes comes failure which is perfectly fine. This assignment reminds me of a quote from Albert Einstein, "If you've never failed, you've never tried anything new."

25A Whats next?

Existing market

What I think is next in the existing market is to constantly expand the selection of shoes available as well as expand the services available to do cleanings and restorations of shoes that customers already own.

From the three interviews I conducted, I received some very helpful feedback on my ideas to improve and grow in my existing market. One thing all three talked about was effective advertising. One major part of growing in my existing market is to expand my customer base and increase customer awareness of the products and services that are provided.

I presented the idea I had for growth starting with expanding the selection available to include as many brands as possible both from large and more niche companies. They all thought this was an obvious but necessary move. Not everyone has the same style so the more offerings that are made available the more customers will be attracted to the site.

Next, I talked about expanding the services to provide cleaning and restorations of shoes the customers already own. Two of the people I interviewed didn't seem very interested in this service as it isn't something they've done with their shoes in the past, but I believe at the right price and with the right marketing they could see how useful it would be. The third person who is very interested in shoes said that this would be a great thing to offer for people who really care about their shoes.

New Market

The new market I think I could provide value to is a B2B market with shoe stores and manufacturers of shoes. The value I would provide would be with the service of cleaning and refurbishing the shoes. These stores and resellers could outsource the cleaning to my venture for a cost for cheaper than it would cost them to do it themselves. This could be achieved because this will be a service my venture is already providing to customers and due to the economies of scale the more stores that outsource their cleaning to us the lower we will be able to drive down the cost.

The two people I interviewed were my friend that works at foot locker and one of his coworkers. They believed that the service provided here would definitely be helpful to their store and similar companies, but most of the cleaning they do is light dirt on returns and not deeper cleans or refurbishing.

What surprised me the most about this market is how little the employees thought about this process other than the fact that they don't like to be the one that has to do the cleaning. What this shows me is that the employees would be happy to rid themselves of this task and that there is probably a better method for this which is an entrepreneurial opportunity.

I think my assumptions about this market was correct. I didn't know for sure going in how much cleaning the stores has to do but I assumed some of the returns had to be cleaned to be presented and sold to new customers who are expecting shoes in new and mint condition. However, I don't think this market is as attractive as I initially believed because most of the cleaning the stores do is light and might not be worth the time and effort to send it elsewhere to be cleaned and then returned.

24A Venture Concept No. 1

Opportunity

The opportunity or unmet need that I have identified in this course is the unavailability of shoes for men who are a size 13 or above. As well as the difficulty that is present when trying to find shoes that not only come in their size but also fit in their style. At the moment my customers would be men who struggle with finding the right size shoe. This is a global market that is not restricted to any one geographical location. Demographically, these customers do not fit in to any one race, nationality, or religion, but they are typically taller individuals who care about the shoes they use whether it is solely for style purposes or for an athletic need. A large proportion of athletes, specifically in sports like football and basketball where the players are large and their shoes are critical to the sport they play, have this same unmet need. Currently, customers satisfy this need with hours and hours of online search. It's mostly online because in-person stores typically only carry up to a 13 and that's only in a few of the most common shoes they sell. Another way customers deal with this need is they find one or two pairs of shoes that they like and continuously buy the same ones every time they need new shoes because they don't want to spend the hours it takes to find a new pair that is their size and preferred style. I believe that these customers aren't loyal to the current method at all and would be more than willing to switch to something that makes this process easier. Unfortunately this method has not been introduced yet and is where the opportunity lies within this industry. Currently about 18% of men in the United States wear a shoe size that is 13 or above. This is about 63 million men just in the U.S. alone. Across the world this number would be multitudes higher than 63 million. From these numbers I would say that this is quite a large opportunity to gain a customer base that needs an easier way to shop for shoes. In terms of how long this opportunity will be open I believe that there is no time like the present. I can't say how long it will be open because as technology becomes more ingrained into every facet of our lives, it will be used to solve every problem under the sun, and it's only a matter of time before it's used to solve the opportunity I've presented here.

Innovation

The service I would provide to meet this need is best described as a "one stop shop" website. The plan is to compile all the size 13+ offerings from the most popular shoe brands across the internet into one place that customers can use to cut down on search time and find the shoes they want. On top of just offering them all in one place I would like to implement a try before you buy system for customers. Trying on the shoe is a critical part in the purchase decision in terms of making sure the profile of the shoe matches your style or look. The way I see this working is customers find a shoe they would like to try and select it. They would put down a payment method that is checked to be valid and will receive a hold for the full amount of the shoe to make sure they can afford them. The shoes are then shipped to them for a 3 day trial period from the day they receive them which will start from the time they are delivered, which we will know from the tracking information on the package. If they decide to keep the shoes the payment method they provided will be charged for the full price of the shoe. If they decide they don't like the shoe they will be provided a return label in the original box that they can use to return the shoes and the hold on the card will be released provided there is no damage to the shoes upon return. This method provides everything they need for a purchase decision that an in-person store provides but in an online format that removes the costs associated with a physical space. On top of everything else, a popular website also provides the opportunity to monetize with ad space as well.

Venture Concept

I think customers will switch to this because it will cut their search time substantially and makes the process incredibly easy for them. This would provide them all the same resources as an in-person store without them having to leave the house. I don't think it will be hard to get people to switch with the right types and quantity of advertising to increase the customer awareness of the service this would provide. I would not be a manufacturer of shoes so I wouldn't be competing with the big names like NIKE or Adidas. In addition to this, I haven't come across or heard of a similar service to this so competition would be low in the beginning. The most important part of this venture is the customer service and customer experience involved. Providing a better experience than what is currently available is the main defining aspect of this business concept. I terms of organizing a business around this I would have the typical executive officers like CEO, COO, CFO, and CMO. In addition to that I would need people to track inventory and control shipping and returns, as well as customer service reps to deal with customer problems. The number of employees would be dependent completely on how much traffic and sales we have in the business to handle the operations.

The Three Minor Elements

1) My most valuable resource in my opinion would be the fact that I have the same unmet need as the customers I'm trying to serve. This helps me to understand additional problems I could offer solutions for. Also, this allows me to find additional unmet needs than a competitor who has to search for the problems instead of seeing them on a day to day basis.

2) The next opportunity I would like to tackle is women's shoes as well. I currently don't know the comparable size in women shoes that this service would fulfill but it would be relatively easy to integrate that.

3) In five years with this venture I would want to be over one million site visits and over 500,000 orders. As an entrepreneur in the next decade I would like to still be focusing on this venture until I believe I could put it in the hands of a new person and step back as CEO to pursue other ventures or sell the business for a fair price.

23A Your Venture's Unfair Advantage

Resource List

1. Connection with someone who could create my technology
1. V: cheaper than hiring an employee if a friend is willing to help me out
2. R: a small percentage of people actually know how to code
3. I: could be imitated with some difficulty
4. N: could be substituted by an employee I don't already know which would probably take more time and cost more.
2. I have the same unmet need
1. V: I know what my customers want because I have the same need
2. R: fairly rare, not a lot of people understand this problem
3. I: not easily imitated because it depends on your genes
4. N: You could market research but that is expensive and takes time
3. My finance knowledge
1. V: Wouldn't have to pay someone to handle the finances if I'm able to do that.
2. R: Not a lot of people understand the reports and laws involved in business finance.
3. I: Can be imitated by learning the difficult material involved
4. N: could pay someone who knows but thats more expensive
4. Leadership experience
1. V: Valuable in dealing with people especially in the start to keep people motivated
2. R: Rare because it's hard to get good leadership positions that handle larger numbers of people especially when you have to compete for election.
3. I: Can be imitated but takes a lot of time to gain that experience
4. N: Again, could just hire someone but that is expensive
5. Casual but efficient culture
1. V: People work better when they're comfortable and happy which it the type of organizational culture I would strive to create
2. R: Becoming less rare in recent years as we've seen in large companies like Google
3. I: Can be imitated elsewhere but wouldn't affect ours
4. N: Don't know how you would substitute this.
6. Advertising knowledge
1. V: Valuable because advertising is moving towards less traditional methods and towards social media which is something we have grow up with and understand well
2. R: Not a particularly rare skill but important in targeting a certain audience
3. I: Can be imitated through education
4. N: Could substitute by hiring an advertising professional
7. My work ethic
1. V: Helps you to get work done efficiently, and gain respect from your peers
2. R: Rare because many do not develop a strong work ethic in their youth
3. I: Cant really imitate this over an extended period of time
4. N: Cannot substitute
8. Natural Intelligence
1. V: Helpful in dealing with day to day problems and making quick in the moment decisions
2. R: Rare because people have varying levels of intelligence and logic
3. I: Not easy to imitate but improvement is something everyone can make
4. N: Cannot Substitute
9. Good Strategist
1. V: Helps you think in terms of the long term goal of the organization
2. R: Some people are better than others naturally
3. I: Can be learned but takes time
4. N: Cannot Substitute
10. Time Management
1. V: Valuable in hitting deadlines and keeping track of progress
2. R: A lot of people cannot manage their time effectively
3. I: Time management skills can be improved but again this takes time
4. N: Could be substituted with more efficient methods that cut down on completion times.

My most valuable resource in my opinion would be the fact that I have the same unmet need as the customers I'm trying to serve. This helps me to understand additional problems I could offer solutions for. Also, this allows me to find additional unmet needs than a competitor who has to search for the problems instead of seeing them on a day to day basis.

22A Elevator Pitch No. 3

2. The feedback that stood out to me the most was to work on my pace and tone which I agreed with completely and tried to work on that with this one. What surprised me the most is the feedback that said I presented without hesitation because I definitely felt hesitant while recording.

3. A) my pitch is somewhat memorized. I don't want it to sound like I'm reading from a script so I more try and memorize the main points I want to hit to allow for improvisation. B) I felt more comfortable in front of the camera this time but it's still weird to just talk at a phone by yourself and sound natural. C) I think my pitch was better this time. I tried to improve the hook at the beginning and work on my delivery.

21A Reading Reflection No. 2

What was the general theme or argument of the book?

     From my point of view the general theme of this book is advice on how to structure your life and priorities to succeed. He does this with a pretty simple set of steps. These steps are "look after yourself first," this involves staying healthy through sleep, exercise, and diet, "look after your economics," this means a stable job and financial well being because without that you become a burden on your family, and lastly, "look after all other things" once your life is stable then you can begin to prioritize the things outside of that.

How did the book, in your opinion, connect with and enhance what you are learning in ENT3003?

     One piece of advice the author gives is to find side projects that excite you enough to give you the energy to work on them. I feel like this is something that starting entrepreneurs feel about their ideas and is where the self motivation comes from. The author, Scott Adams, knows this from the experience of working in a corporate job for 16 years before creating the famous comic strip "Dilbert".

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

     Scott Adams has this idea that "every skill you acquire doubles your odds of success." I would want to build an exercise around this by having student pick any kind of skill that they don't know already on the first day of class. It could be anything like playing an instrument, juggling, or in my case typing with all 10 fingers, etc. Then have progress reports throughout the semester on their progress, and finally a demonstration at the end. I think this is an assignment that could be a lot more interesting and engaging than just writing blog posts twice a week.

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?

     For me, it seemed that Adams had a very laid back view on success and that success is more about being a well rounded person than it is about being extraordinary at any one thing.

20A Growing Your Social Capital

1. Benji Riviera ran a successful online shoe business for people looking for high end special edition shoes.
2. This contact is filling the domain expert slot because they own a similar business to my idea
3. I met this person here at UF through friends we had in common and I've contacted him through text and in person
4. I haven't asked him for any favors but I know he would help me in this business plan if I asked him to.
5. Including this person would help because he's already set up a similar business and could assist me in doing so, as well as know what to avoid when starting to be more successful.

1. Ryan Landers is someone who represents a major piece of my market as a consumer of these types of products.
2. This person is an expert on my market being that he is an avid sneaker head but also has the same problem of not always being able to find his size.
3. Ryan is a close friend I've met here at the University of Florida and I talk to him on a daily basis through multiple avenues of communication.
4. Ryan and I always help each other out when needed. He's a year younger than me so I've helped him navigate UF and he's always helped me when I ask so I'm sure he would help me with this.
5. Including this person in my network would help provide more valuable insight into the market that I'm targeting through his personal experience and shedding light on thing I may have missed.

1. Shawn Hatchwell is a talented web and app designer in the industry who has worked for big name companies like Microsoft.
2. This person is an important supplier in the industry of online business being able to make clean and functional web pages and apps for companies to market themselves online.
3. Shawn is also a friend I've met while here at the University of Florida that I talk to in person at least once a week and through text almost every day.
4. Shawn had some great ideas for how to set up an online presence for my business and how to achieve the more technical hurdles in starting this business. He also had great idea for an app that would increase my customer accessibility and make it even easier for people in my market to find and use this service.
5. Including this person in my network would be a major advantage in exploiting this opportunity. People base some of their purchase decisions in online shopping on the design of the website alone. If navigating the site isn't too intuitive people will leave the site without buying anything and Shawn can help me avoid these issues.

Reflect:
As a student in the college of business you learn very quick that networking is a critical part of success in the business world. This activity was good because most of the networking I've participated in the past has been without any specific goal or business opportunity in mind and I think that having one for this helped me get more to the point of the networking instead of just talking to people for the sake of networking.

19A Idea Napkin No. 2

1) You - I am a junior at the University of Florida majoring in finance. I'm currently on 2 executive boards holding the positions of Vice President and Treasurer. I have a wealth of leadership experience and experience in working with a team. My aspirations are to leave Florida and move to the northeast to work in corporate finance. If I was to start this businesses it would probably be a side project for me where I only work on it when I can.

2) What are you offering to customers? A service that compiles all the different brands and styles of shoes that are offered in sizes not typically carried in store and presents them in one place.

3) Who are you offering it to? Anyone who has trouble purchasing shoes in stores because their sizes aren't typically carried in store. Also of all the styles offered on a brands website not all are offered in the larger sizes so it would cut down on their search time.

4) Why do they care? Like I stated before this would cut down on search time which is crucial as people's attention spans get shorter and online shopping gets more popular.

5) What are your core competencies? My core competencies are not only offering one or a few brands or styles but buy offering as many as possible. Also, as a website there is the ability to sell ad space for additional income. Lastly, people will always need shoes so demand replenishes itself

I think these five elements fit together well but the biggest problem I see with a website like this is going to be promotion. Finding effective ways to show those inside my market segment how this can help them and make them use this service.

Feedback Memo:

The only feedback that was left on my last idea napkin said the experiences I had were a strong foundation so I tried to expand on those more. 

17A Elevator Pitch No. 2

1.

2. I didn't receive any feedback on the last elevator pitch because I didn't submit one.

3. Again, I couldn't change anything because I didn't submit a first one, but I did try and lay out my idea clearly. I introduced myself, explained my idea, and provided info on the size of the market in question to show that this is a viable opportunity.

18A Create a Customer Avatar

My customer segment is pretty diverse as my opportunity is based around an article of clothing. My customer avatar is probably a young to middle age adult who buys their own shoes online. They are most likely taller than average considering the large shoe size. They care about their style enough to shop around and find the right clothes for them. As for hobbies it's hard to place them all in one or a few groups, but I would think that this would be a common issue for athletes. Athletes are bigger than most and the right shoe is pivotal to a player's performance. Other than this is difficult to group my customer segment in things like the car they drive, or the shows they watch as this really has nothing to do with the service I'm providing. Everyone wears shoes so it's difficult to represent that in one avatar that encompasses that. What I have in common with the avatar is that I'm tall and have the same problem of not being able to find the right shoes because they aren't sold in my size in the store.

15A Figuring Out Buyer Behavior No. 2

Interview 1:
The first person I interviewed said the most important factor in the decision is style. They want a shoe that they like but that also comes in their size. This customer will almost always buy their shoes online as most stores don't carry the right size. For post-purchase evaluation this person says the most important factors are comfort and style. Since they buy most of their shoes online it's hard to know which shoes run small or large so you don't always get the best fit. Style because they can't try the shoe on in store so it might not look as good as it did in the picture.

Interview 2:
The second person had very similar factors for alternative evaluation with the inclusion of price because of their budget. Again, they always buy online because the only stores that carry their size are big and tall stores and they don't have the best selection. This person also had the same factors for post-purchase evaluation, but said that he doesn't really worry about them because he usually just buys the same shoes every time.

Interview 3:
My third interview is pretty much identical to the first two. They make their decision based on price and style. They buy online because the stores don't carry their size. Then once they receive the shoes they evaluate them based on comfort and how they actually look on their foot and that the profile of the shoe actually fits their personal style.

Conclusion:
It very much seems like this segment just does what works, which is why they all have similar alternative evaluation, purchase decisions, and post-purchase evaluations. I think a service like the one I've described could really open their eyes to a larger selection of shoes. From the answers here i think I would need to have a kind of try before you buy because trying on a shoe is how you evaluate for comfort which was a big factor for these three.

14A Halfway Reflection

1. One important aspect of this course is good time management. College is very busy and this class has assignments due every week and if you don't manage your time well you will miss an assignment or two.

2. I was doing poorly my second and third semester at UF and I thought about switching majors or even taking a year off college to get away from the stress, but instead I stuck with it and put my head down spring last year and fixed my GPA with a 3.77 across 18 credits.

3. tip one: Get homework out of the way early. It's easier to just do it than to keep putting it off.
    tip two: Get involved on campus. The only way to get better at time management is to fill your schedule
    tip three: 4 Years isn't a long time don't waste it.

13A Reading Reflection No. 1

Book: Steve Jobs, Walter Isaacson

1. What surprised you the most?

• What surprised me the most was that before Apple Jobs and Wozniak sold illegal boxed that could get you free phone calls.

2. What about the entrepreneur did you most admire?

• That even when he was removed from the company he didn't give up on it.

3. What about the entrepreneur did you lease admire?

• He was always a touch narcissistic.

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

• Steve Jobs was removed from his own company by the board. He then went and created another startup that was later purchased by Apple after Apple had lost direction without Steve Jobs. From there he went back to being CEO.

5. What competencies did you notice that the entrepreneur exhibited?

• Jobs had vision and Apple has done a great job at making their products integrate together very well. Where if you have and iPhone, Macbook, and Watch they almost feel like one device.

6. Identify at least one part of the reading that was confusing to you?

• How you can be removed as the head of a company you started

7. If you were able to ask two questions to the entrepreneur, what would you ask? Why?

• Did you always think you would start your own company or was Apple the first time you really thought about being an entrepreneur?
• I'd ask this because I don't think every entrepreneur thinks they'll be one before it happens.
• If you could change one thing during the creation of Apple what would it be and why?
• This is interesting because people are often hypercritical about things they care about so even though Apple is extremely successful Jobs probably would change a few things.

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

• I think Steve Jobs would believe in the statement 'work smarter not harder' and I definitely share that view.

12A Figuring Out Buyer Behavior No. 1

Segment: People with shoe sized typically not carried in store.

Unmet Need: Finding shoes that fit easily

Findings: After conducting my three interviews, I found out a lot more about how the people inside my boundary deal with the need currently. A lot of times they deal with this problem by finding one or two pairs of shoes and just buying the same ones every time they need new shoes and if the shoe gets discontinued they find a new one and continue to buy that one continuously. However, some of the more motivated will spend hours searching online to find not only a shoe they like but one that is offered in their size. One of the people I interviewed talked about how he would be looking online and get excited about a shoe he liked and then be disappointed when he finds out that it isn't made in his size. The service I proposed for this opportunity would solve these problems and allow people to find all the shoes in their size in one place online. The online platform would be great for this niche market because it has relatively low overhead and I would be producing anything just presenting options.

11A Idea Napkin No. 1

1. Me: My name is Connor Voorhees and I am a third year finance student here at UF. My talents include effective communication, good critical thinking, and a strong work ethic. My skills and experiences include interning with an entrepreneur, serving on multiple executive boards here at UF, including the position of treasurer which ties into my major and my future aspirations to work in corporate finance.

2. What are you offering to customers? A service that compiles all the different brands and styles of shoes that are offered in sizes not typically carried in store and presents them in one place.

3. Who are you offering it to? Anyone who has trouble purchasing shoes in stores because their sized aren't typically carried in store. Also of all the styles offered on a brands website not all are offered in the larger sizes so it would cut down on their search time.

4. Why do they care? Like I stated before this would cut down on search time which is crucial as people's attention spans get shorter and online shopping gets more popular.

5. What are your core competencies? My core competencies are not only offering one or a few brands or styles but buy offering as many as possible. Also, as a website there is the ability to sell ad space for additional income. Lastly, people will always need shoes so demand replenishes itself

I think these five elements fit together well but the biggest problem I see with a website like this is going to be promotion. Finding effective ways to show those inside the boundary how this can help them and make them use this service.

9A Testing the Hypothesis, Part 2

Opportunity: a website and service that compiles shoes from many different brands that are available in sizes 13+ and will give you recommendations based on your personal style. This is because most stores don't carry these sizes and it's difficult to find a shoe that you like in the right size.

1. From the five interviews I conducted, I learned the following. There are some who should fall inside the boundary of my opportunity yet they do not because they know enough about shoes they are able to provide this to themselves, however I still believe one common resource would make this easier for them. Also, I found that people with size 13 still have the need but more often now are they able to find the size they're looking for. Others just stick to one shoe because they like how it looks and they already know it comes in their size, but my opportunity might motivate them to change that behavior. I also realized how this need could be applied to other areas outside the current boundary. Not only could this be for shoes but for other clothes as well. There's more to clothing sizes than just small, medium, and large like how they fit. For tall people finding a shirt that is long enough but also isn't too baggy is sometimes a challenge.

2.Inside the Boundary         vs.    Outside the Boundary

People who wear a shoe size that isn't typically carried in store	People who have no trouble finding the shoe size they're looking for
A website and service that compiles shoes from many different brands that are available in sized 13+ and will give recommendations based on your personal style.	A regular shoe store for a single brand
It's uncommon for people to wear these larger sized so most stores won't carry them for the fact that it's not guaranteed that they will sell.	not only will it show you the shoes available in that size from around the web but will also recommend certain styles to you.

6A Identifying Opportunities in Economic & Regulatory Trends

Opportunities from regulatory changes

Opportunity 1: Better way of interacting with your cell phone without using your hands or distracting your eyes

A) https://www.orlandoweekly.com/Blogs/archives/2019/07/01/heres-a-roundup-of-all-the-new-florida-laws-that-went-into-effect-today

B) The state of Florida passed a law that allows law enforcement to pull you over for texting and driving. I believe the opportunity lies in a better hands free interaction with your phone. Right now there are the digital assistants such as Siri, but the voice recognition isn't the best and you constantly have to look at the phone to see what she messed up.

C) The prototypical customer would be anyone that needs to use their phone while driving. This includes ride share services, food delivery companies, etc.

D) I think this opportunity is slightly difficult to get into considering it's been around for a while but only recently has more emphasis been put on it.

E) I think a lot of people have seen this opportunity but having worked for a company similar to uber eats, I can see how being pulled over for using my phone all the time would have hurt my job.

Opportunity 2: Easier way to quit nicotine

A)https://www.orlandoweekly.com/Blogs/archives/2019/07/01/heres-a-roundup-of-all-the-new-florida-laws-that-went-into-effect-today

B) The state of Florida just passed a law that bans the use of electronic cigarettes in most indoor workplaces. I believe that this is an opportunity because it is becoming increasingly inconvenient to smoke anywhere that isn't your home. As this trend continues more and more people will try and let go of the addiction.

C) The prototypical customer is anyone trying to quit smoking

D) I think this opportunity might be difficult because if it was easy I think it would've been done by now

E) I saw this opportunity after years of being addicted and trying to quit multiple times

Opportunities from economic trends

Opportunity 1: Upcoming economic contraction

A) https://www.thebalance.com/top-usa-future-economic-trends-3305666

B) Currently the US economy is in an expansion phase. This means that the economy is growing and is headed towards a peak and then turn towards contraction which analysts believe will occur in the next couple of years. The opportunity here is being in the right financial position for this contraction.

C) The prototypical customer is anyone who actively invests their money

D) I think this opportunity is easy to gain a little from but hard to gain a lot from.

E) Other people have definitely seen this before me in the broad sense but as I mentioned above, the opportunity lies in the more minute details

Opportunity 2: Teaching tech skills to the new workforce

A) http://blog.indeed.com/2016/06/22/global-economy-employment-trends/

B) According to this article, among the OECD countries, 35% of people age 19-29 have no computer experience at work. While our generation is typically seen as more tech savvy, a lot of us still don't have the skills in programs like excel to replace the aging workforce.

C) The prototypical customer is someone who doesnt have the workplace skills that they need.

D) I think this opportunity is easy to capitalize on because it could be done all online and would have very low overhead.

E) I saw this opportunity as someone who is entering the workforce soon and in need of broadening my skills.

5A Identifying Local Opportunities

1.  "With little change, iPhones may get upstaged by streaming"
   
1. Opportunity: There is more and more opening in the smart phone market share
2. https://www.gainesville.com/ZZ/news/20190910/with-little-change-iphones-may-get-upstaged-by-streaming
3. According to this article, Apple's iPhone sales have been diminishing in recent quarters and the company is trying to turn to other services for revenue. The services they're turning to include a new video streaming service and gaming streaming service. The article also talks about Apple's strategies to try and save the iPhone sales.
4. The main problem presented is that Apple's iPhone sales are hurting due to a lack of significant change in available options offered from year to year. This is important because the iPhone has been Apple's best selling product for a long time and this could mark a major shift in the trajectory of the company.
5. Apple is who has this problem. This change is forcing them to find new opportunities for products and services that they can offer to make up for the iPhone's lacking sales. On top of the lacking sales it also opens space for competitors to push for some of Apple's market share in the smartphone market
   
2. "50 state attorneys general launch antitrust investigation into Google"
   
1. Opportunity: Google could lose market share in the online advertising business
2. https://mycbs4.com/news/nation-world/50-state-attorneys-general-launch-antitrust-investigation-into-google
3. The attorneys launched this lawsuit to look into "Google's potentially monopolistic practices in online advertising and search functions." The investigation is being led by Texas Attorney General Ken Paxton. The lawsuit consists of 48 states as well as Puerto Rico and the District of Columbia. The only 2 states that haven't joined are California and Alabama.
4. The problem is that if Google is using monopolistic practices, then clearly that is a violation of the antitrust laws we have in this country. The other problem could be that if the investigation finds nothing then Google will have to deal with recovering their image after this big of an accusation.
5. In both scenarios Google has the problem. If the investigation finds something substantial then Google will have to deal with the legal punishments that come with that. If they're found to be clean then, like I said before, their image will be damaged and in need of repair because of the accusation.
   
3. "Bride cuts dress, dyes it green as way to keep wearing in: 'Too expensive to wear just once"
   
1. Opportunity: Multi use wedding dresses
2. http://www.wogx.com/web/wogx/news/bride-cuts-dress-dyes-it-green-as-way-to-keep-wearing-it-too-expensive-to-just-wear-once
3. This woman had a woodland wedding and paid over six hundred dollars for her wedding dress. As an account manager she was upset she paid this much for something she would only wear once. So, she decided to cut the dress to mid length and dye it green. Now she wears it all the time and has successfully repurposed a very expensive dress that most people only wear once.
4. The problem in this story is paying such a high price tag for something you only get one use out of. I think the opportunity lies in others feeling the same way but not having the skill to transform the dress on their own
5. This must be a problem for brides everywhere. While I believe some of them don't mind only wearing them once because they like to keep the dress for the sentiment, there are probably many that would also like to transform the dress into something they can continue to wear after their big day.
   
4. "Lawsuits say Lyft doesn't do enough to protect women from predatory drivers"
   
1. Opportunity: A safer ride share service or a method of vetting drivers
2. https://www.wuft.org/nation-world/2019/09/12/lawsuits-say-lyft-doesnt-do-enough-to-protect-women-from-predatory-drivers/
3. Lyft is currently being sued by more women every day over sexual assault by their drivers. San Francisco attorney Laurel Simes says her firm has received more than 150 calls about these situations and more come in every day. They accuse Lyft of knowing about attacks like this for years and not doing anything to prevent them.
4. The problem is ride sharing apps like Lyft provide easy access to women for sexual predators if drivers aren't properly vetted or controlled. This makes the services unsafe for women and has led to numerous cases of sexual violence.
5. Here Lyft has the problem of finding a way to protect it's female users by introducing new features or vetting processes for new and current drivers. Women also have the problem of not knowing who they're getting in the car with. This could be solved with more in depth driver reviews, or only providing women with the highest rated drivers.
   
5. "University of Florida lab leads the way in commercial fish farming"
   
1. Opportunity: Lab research provides more opportunity for Florida fish farmers to be competitive with imported competition
2. http://www.wogx.com/web/wogx/news/university-of-florida-lab-leads-the-way-in-commercial-fish-farming
3. The UF tropical aquaculture lab in Ruskin has cultured 50 to 100 different species of fish. Some of the species have never been cultured in a lab before. These are fish for tanks not necessarily to eat. The research the lab does can help farmers in Florida become better at their trade.
4. The problem is that Florida is a great place for Aquaculture farms and the industry needs help growing. The lab also researches the food it feeds to the fish so that they grow healthy and full even though they are grown in captivity to be tank fish. This research will help local farms to be more competitive against the fish currently being imported
5. The Florida fish farms have the problem of not having good research to base their operations on. These farms are good because it stops the fish from being captured out of the wild and also allows slimming populations to be assisted.

4A Forming an Opportunity Belief

Why is there no easy way to lose a nicotine addiction? With the immense popularity of the juul and other e-cigarettes more and more college students are finding themselves with a nicotine addiction and a hurting bank account. I hear about a lot of people who have tried to quit multiple times before but somehow always fall back to buying pods again. This opportunity has existed since people started using nicotine but is definitely more prevalent now with the high percentage flavored vape juice that draws in the college age kid. Currently, the need is being met with people struggling to quit on their own by going cold turkey or trying to slowly ease off of it but these are hardly effective and I believe the opportunity lies in something that could ward off the cravings of the addiction as you try and stop.


Customer 1: My roommate that recently quit the juul

Q: When did you start smoking?
A: During the end of my freshman year

Q: Why did you start smoking the juul?
A: He hit while out with friends and it slowly grew into an addiction

Q: What made you want to quit?
A: Mostly money, but also that it's probably bad for you and I was uncomfortable with how attached to it I was

Q: How many times had you tried to quit in the past?
A: At least 5 times for at most a week but usually about 2 days

Q: How hard was it the final time you tried to quit?
A: Very difficult in the beginning but gets easier over time

Q: Did you ever wonder if there was an easier way to quit?
A: I think quitting cold turkey was the easiest for me of the available options but it would be nice if it was easier

Reflection: From the interview with my roommate I believe that people just expect it to be difficult and aren't really looking for a better solution. However, if a better solution became available I believe that people would be very accepting of it because of how difficult it currently is.

Customer 2: Friend who continues to use the juul

Q: When did you start smoking?
A: During my freshman year

Q: Why did you start smoking?
A: One of my friends in the dorms had a juul and I would always hit it and eventually led to me getting my own

Q: Do you want to quit?
A: Sometimes I want to to save money but I do enjoy it too

Q: Is anyone actually going to read these questions?
A: Idk man probably not

Q: Have you tried to quit before and if so how many times?
A: I've tried a couple times before bet never for very long

Q: Why do you think it's so hard to quit?
A: Whenever you stop you just think about it so much and you talk yourself into buying more pods

Q: Are you satisfied with the current methods to quit smoking?
A: It is extremely difficult and I think that having an easier way would definitely help a lot of people

Reflection: The view from someone who hasn't quit yet shows us a different view into the process of quitting. My friend says he wants to quit but from talking to him and the answers he gave it doesn't seem like he's really ready to stop. I think this shows that there is an opportunity because he does think that there should be an easier way to quit and he would be interested in an easier way.

Customer 3: Friend who uses chewing tobacco

Q: When did you first get addicted to nicotine?
A: I started chewing dip in high school while playing baseball

Q: Why do you choose to dip instead of smoke?
A: It's what I started with and I would rather damage my mouth than my lungs

Q: Do you think it's easier to quit smoking or chew?
A: I think they're probably both the same give or take the addiction is to the nicotine

Q: Have you ever tried to quit and if so how many times?
A: I've tried once or twice but it's just too difficult

Q: Do you actually want to quit?
A: Yeah I want to but I haven't had the motivation to quit

Q: Are you satisfied with the current methods to quit smoking?
A: All the current methods are difficult as most addictions are to break. It would be great to have something easier

Reflection: The perspective from someone who uses a different form of nicotine shows that this in not only a problem for people who smoke but for all the people that use nicotine. This is definitely a big opportunity and applies to a lot of people.


Summary: I think that my opportunity of an easier way to quit a nicotine addiction is still fully there. Not much has changed about it other than now the opportunity includes not just smoking but any nicotine product. I think it's very important for entrepreneurs to adapt based on customer feedback. This is because they may identify a unique problem that they have and customer feedback can grow that idea to fit a more general problem that a lot of people face.

3A Your Entrepreneurship Story

In high school I used to intern at this office my mom managed to make some spending money. During my time there, the owner of the company would give me books to read and taught me a few things about being an entrepreneur. He had started this company to process the titles for cars moving to a new state. For example if you live in Florida and you buy a car from Georgia this company does the processing to title the car in Florida. While I was working there he was also in the beginnings of starting his new designer kitchen company. What I learned was that this guy was successful because he was always looking for those opportunities to be an entrepreneur.

I enrolled in ENT3003 to fill a 3000 level elective requirement to graduate. I've heard a lot about this class from friends and I think it will definitely be interesting and I'm enjoying it so far. I don't know if I'll really use much of it as i don't plan on starting my own business and would much rather work in corporate finance.

2A - Bug List

1.  It's nearly impossible to get a walk-in advising appointment in Heavener
• this happens because there are only a few advisers for the thousands of business students
2. My room doesn't have any Ethernet ports so I'm forced to use WiFi
• This is because the building was poorly planned
3. My iPhone battery always goes bad after a few years
• Happens due to forced obsolescence from Apple
4. When people don't use their turn signal
• Happens because people are lazy
5. When outlets are loose and the plug constantly falls out
• Probably because the outlets are old and have been used a lot
6. The RTS buses are hotter than being outside
• there is no A/C on the RTS buses
7. Most of the business classes are online only
• Heavener only has a few classrooms and they don't hold that many students
8.  When the same ad plays multiple times during a show
• Advertisers want you to remember their product
9. When the belt on the treadmill slips while you're running
• Happens because the belt gets worn and people don't report it to the workers at the gym
10. When you waste a lot of time searching a parking garage for a space but it's full
• Happens because there isn't a lot of parking at UF and there's no system to detect if the garage is full
11. I don't like having nothing interesting to do
• happens because it's difficult to find new activities to hold your interest
12. When a power surge destroys an expensive TV or computer
• Happens because outlets don't have surge protectors built in
13.  Having to spend the first week of school organizing all of my responsibilities for a semester
• Happens because most classes are posted to canvas just before the first day of the semester
14. When companies put you on hold for a long time
• Happens because companies underestimate their customer service needs
15. When your computer dies in the middle of working on something and it doesn't save
• Happens because programs don't have an autosave built in, you forget to charge your computer, or the computers battery life is poor
16. I don't like having to remember to move my clothes from the washer to the dryer
• Happens because there isn't a machine that can wash and dry my clothes
17. When I try and use the printer in my building multiple times in a semester and it is always out of ink
• Happens because the people that work there are lazy and don't listen when the residents bring problems to them
18. When people are too busy looking at their phones they don't notice the light turned green
• Happens because people text and drive
19. When airlines put the seats too close together where my knees dig into the seat in front of me
• Airlines do this to fit more seats on the plane to sell more tickets
20. When machine you're trying to use at the gym is taken
• This happens because most gyms only have one or a couple of the same machine

Reflection: 

Like Dr. Pryor said, the first couple were pretty easy pet peeves we encounter often or at least recently. However as the list grew it became increasingly difficult to find "bugs" that affect me. It's very clear to see how this way of thinking helps entrepreneurs identify areas where service improvements could be made or markets where a new product could be introduced. I definitely see myself thinking this way in the future as i go through my day to day.

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