Reading Reflection

Reading the part where Vikram walked away from a $285,000 portfolio surprised me the most because instead of caring about money, he cared for the people and the suffering that would follow if he continued with his portfolio. Theres a very few people who would even consider doing that. The part that sort of confused me was how a group of ladies got a loan and if one of them couldn't pay, the others would have to chip in. Reading this made me wonder how exactly does this end up working out. What happens if one of the girls are tired of chipping in? This is also a question I would like to ask the offer along with how did he come up with his idea.

Final Reflection

Looking back at what I did throughout the semester for this course, I must say that coming up with my product-Coverella and receiving both positive and negative feedback on it was my most formative, joyous and something i'll remember years from now experience. Coming up with my idea and receiving feedback, transformed my product to what it was then to what it is now. Transforming my product has been a ride, and right now I can say I'm a pretty proud person and I hope I can further pursue my venture and even start showcasing it in events. Being in this class has allowed me to use my creativity and entrepreneurship mind much more than my other classes. It allowed me to put myself out there in the world, and reach out to people for class interviews that were mainly about my product. This made me more confident in myself.

The best advice I can give someone who will be taking this course in the future is to take this course seriously. This course can teach you many entrepreneurial things and will also allow you to gain confidence in yourself as well as tap into your creativity side that you probably don't use as often as you should. However, to be able to achieve this, you must do the assignments even if you need a recording. That one recording you didn't want to do because you were either too scared or too lazy can cost you your grade. Go buy a calendar notebook and start writing down all your due dates and star one that include an interview . Best of luck.

Elevator Pitch No. 4

After posting my third elevator pitch, I started realizing my product has gone a long way since turning in my first assignment for this class. This was proven by all of the positive feedback I received by my fellow commenters. All of them seemed to like my idea, and the majority related to being stranded somewhere when it's raining or having to be somewhere at a certain time but was stopped by the rain. With all the feedback I received, I ended up changing just a few things on my model but that doesn't mean there isn't more things I want to add. I'm hoping i'll have an estimate of how long it would take someone to set the cover on their bike or scooter. With that being said, thank you to everyone who has helped me shape my product to what it is for now. I'm hoping to develop something more simpler for those who don't want something as complex as my product but something that would still work against the light rain .

Venture Concept No. 2

Holding my bike with one hand and an umbrella on the other while walking around University of Florida, I realized I wasn’t the only one who was forced to get off their bike due to the rain. Seeing how this was a regular occurrence, I asked myself “why?”. Why should I get off my bike rather than continue on biking through the rain? Well I and the majority of UF don’t want to get our personal items wet. Why not just juggle an umbrella on one hand while biking? That takes focus and too much effort. With all these questions roaming around my head, I thought of a product that would meet many bikers needs. Why hold an umbrella while biking when you can have one already installed onto your bike? No longer would bikers have to get off their bike or be forced to wear garbage bags on them. This is a big opportunity because this need is yet to be met and with the constant rainy weather in Gainesville, many students who both ride a bike as well as a motorcycle/moped will now be protected under a bike cover, umbrella.

   The name of the product I have designed is called “Coverella”. It’s not a normal umbrella attached to a bike, but rather a clear plastic material that is collapsible. You first attach it to the bottom of your seats bar and it will extend a few inches out towards the wheel and then be able to be pulled up and around you towards your handle bars under bar that is attached to your frame. This will allow you to be safely protected from the rain and wind while you’re biking. Not only is it a simple cover, but there will also be two things installed onto it to allow you to have clear visibility while biking. You will have collapsible rain wipers on all sides of your bike that are to be put into outlets that will power it to function. The second installation will be a small heating mechanism that will be attached to all sides of the cover that will heat the cover and evaporate the fog from the cover. The cover will also include to windows that you’ll be able to unzip if you need to. Once this product is officially developed and looked at it, I will start contacting stores who want to buy my product and have them in turn sell it to their loyal customers. I will also develop a website where customers will also have the option to buy it online rather than bike shops and other stores. It will go for sell on line for about 100-200$ depending on how much it cost to develop one and other related costs to keep the business running successfully.

   The main reason customers will buy this new product is because it's something they haven't seen yet nor heard about. It's exciting. This product is the solution to constantly getting rained in while biking or having to get somewhere on a certain time but is stopped by the rain forcing them to have to walk to their destination. I'm sure there are many out there who are tired of having to walk their bikes through the rain or tired of having to wait for the rain to stop to continue on scooting around town. Yes, my product will be hard to introduce and capture the audience, but once they see others around them biking around with Coveralla, they'll be wishing they had one or that will give them the push they need to buy my product.

    My product will be hard to copy because there none out there in the market like my product. You need to understand how and why my product is designed a certain way and how each mechanism works. People who wish to copy my product may only be able to make a cheap umbrella version of it. What's next for my venture ? I'm hoping to be a part of several innovation hub events where others will approach me with their feedback which I will then use to better my product and eventually seek investors.

The feedback I received was extremely helpful and informative. Two of the commenters were concerned with my product being too time consuming, little room space and my product seeming to ambitious due to it complexity . One other comments suggested turning my product to a more simpler product which would consist of a package that would include a poncho, umbrella holder for the bike and an umbrella. All feed back was helpful but I don't wish to change my product to just an umbrella because that was my original idea which was eventually shaped to the one I have now. I will however look into how much time one would need in order to install the product onto their bike or scooter.

Week 14 Reading Reflection

After my reading, the one part that stood out the most to me was the section discussing corporate strategy dealing with entrepreneurs. Due to not having any background on the information given, I was a bit confused when reading about intrapreneurship . To conclude I have no questions to ask the author nor do I disagree with anything the author wrote.

Google Gold

To reach SEO, I made sure my bog was interesting as possible. I did this by first figuring how the blog site worked and how I could better improve my site. Once I did my research, I started playing with the layout of the page. After two days, I had the background and layout I wanted and thought others would also like. If you have a luring post, people are going to want to go back and read more of what you're posting. I didn't really change any of my keywords throughout this semester, but rather figured what my commenters like and what they didn't like and worked around that to better improve my post. I actually didn't use social media to improve my profile. Everything is connected with google, those that are already connected with me are able to see my profile if they choose to . I think the most viral posts I've made are ones that included videos and posts regarding real world situations. After googling my name that appears on my blog, I did appear on the first page of google.

Very Short Interview, Part 2

After reviewing my first short interview post, I could see that I put a lot of effort into calling my grandmother who resides in Venezuela to ask three simple questions. All of which were also well answered.

**Due to the location, I will not be providing a recording**

1. What sets you apart from other vendors in your neighborhood?

Each store sells certain items. In my store, I sell pretty much everything one would need from kitchen appliances to food to actual hot dishes that I cook in my kitchen. I not only have a store in which I sell food and other stuff but I also have a side restaurant where people are able to buy drinks and food . Those that choose to dine in can also sit in tables and cool off with the surrounding fans.

2. Who are your customers and what do you think is your most important capital?

My customers are mainly those that are poor, don't own a car or are unable to travel far distances to visit the grocery store. I am able to sell to those that are to old to drive in taxis and bus just for a loaf of bread. I believe my most important capital is the fact that everyone who knows me and who buys my food know that I'm someone they can trust and who their friends trust. This trust allows me to have more customers buy at my store.

3. What is your end goal? What do you see yourself doing with your company in the far future?

Due to old age, there isn't much I can do but just continue on selling and making as much money as possible to provide for myself and when my family needs help. I do not plan on expanding, but I might pass down my business to one of my grandchildren who have helped me tremendously in my stores keeping.


After interviewing my grandmother, I feel I am much more comfortable in talking about entrepreneurship than I was three months ago. This class has forced me to put myself out there and really think about what I want to do with my business plan. I've gained a lot of confidence and knowledge throughout this course and my grandmother did indeed notice the difference between now and  three months ago.

Week 13 Reading Reflection

  During my reading the part the surprised me was the many questions and the thought process people made in their business and other businesses. I was also shocked that Facebook and Amazon weren't very much different in relevance to value. I understand that there are many Facebook users but I feel like theres a way more variety of amazon users in regards to age group. The only part that I was a little confused on was the chart regarding venture and evaluation. To conclude, I don't have no questions to ask the author nor do I disagree with anything she said.

Celebrating Failure

During this past semester, I failed a very easy exam for a very easy class- Mans Food. Due to my hectic schedule, I wasn't prepared for an exam I had two days to study for. Nor did I know I had such a limited time to take the exam. Let's just saw I was very stressed while taking it, and I did don't pass it. Seeing this, I started venting on wether or not I should drop the class or stick with it. Being over dramatic, I realized I could still pass the class with an A if I get A's on the other exams. Realizing I would have failed this class wasn't the easiest thing I've had to deal with during my time here at UF, especially because it's such an easy class. Seeing that I didn't take my first exam seriously, I started to write in my calendar when I should start studying for my exam etc. Just because the class is considered an easy course, doesn't mean I shouldn't take it seriously . This goes for all classes at UF.

Failure is something most of us don't like dealing with . We try our best to avoid it but sometimes even when we try our best, we still end up failing. It happens. You're going to fail and you're going to continue to fail throughout your life. However, with these failures, you get to improve and learn from your failure and be better in the future. I tend to be stressed out a lot so I don't well with failure that well. Most of tell ourselves when something doesn't go our way that we aren't good enough. We didn't do our best etc. I used to think like that till I was at a forum regarding stress i Vet student. Now, I tend to not really stress too much about my failures but rather look at the situation. See what I did wrong or lacked in , and do better the next time.

My Exit Strategy

I honestly have not thought about the exit strategy I would make for the future. With the product that I have designed, my business can go several ways: make a lot of money when I first put it out in the market, and slowly die down. If I were to predict this, I would instantly sell my company for a large return. However, my business could continue to skyrocket, and even become a name brand where I will continue to design products for those that have automobiles or bikes. If this were to happen, I would protect the venture as a family business. Typing this all down, I realize the second theory could possibly happen if I were to be careful with how I carry out my business plans. With that being said, this exit strategy has definitely influenced my growth intentions and how I now see my company becoming a name brand rather than just selling two or three models to people. It has also made me think on how I should acquire the resources I would need in other to have a successful business .

Week 12 Reading Reflection

The biggest surprise was concluding that strategic planing is a major key to success for young entrepreneurs . Especially those that are starting new and out of nowhere. It isn't as easy as I originally thought it be. Throughout my reading the one part that was a bit confusing to me was reading how one transitons from entrepreneurial to a managerial position. I also would want to know how does one transitions like that and what is their process ? The second question I would ask the author would be in what ways can you incorporate strategic planning in your daily life. To conclude my reflection, there wasn't anything i disagreed with the author.

What's Next

Existing market:
After the interview, I again was again thinking back to all the feedback that I was given and how I could incorporate them into my product. Being informed on the issue of getting your lower part of your body wet was what struck me the most.They asked me what would be the difference if they just wore a rain jacket. Hearing this, I knew my product was not yet ready to be introduced to the world but be brought back in to look at how I can make a better product by changing a few things. Another thing was the way my product would look, and how some fashionistas may not like the way it looks, and thus won't buy it. With this feedback, I hope to create the original look and go from there. Slowly start introducing different models of the product. 
   Although my product would be run on solar energy. It would be interesting to create bike that already has a cover on it, that would be powered by the pedaling of the rider. With that energy and model, I could later start adding more gadgets onto the cover. However, It won't be able to be compressed to a carry on. The last thing I want to discuss is having some sort of umbrella that athlete are able to use but without having to use their hands to hold it nor have it distract them and put stress on them.

New Market:
My new market would be targeting athletes. In addition to the bike umbrella/cover, this product would be beneficial to athletes and those that workout outside. This product will also protect them from the rain while they continue their normal day to day practice outside . The main thing I learned about this product is that there is a need for something like this in the world. There are many athletes out there that are forced to play in the rain unless there's lightening. Most tend to not like getting soaked and wake up the next day with a cough. This need for it , was the most surprising. However, this product also has many faults in it and in someways no necessary for some. In comparison to my original market, this isn't as attractive. However , I would love to add this to the line if items I would sell in my business.

Venture Concept No. 1

Holding my bike with one hand and an umbrella on the other while walking around University of Florida, I realized I wasn’t the only one who was forced to get off their bike due to the rain. Seeing how this was a regular occurrence, I asked myself “why?”. Why should I get off my bike rather than continue on biking through the rain? Well I and the majority of UF don’t want to get our personal items wet. Why not just juggle an umbrella on one hand while biking? That takes focus and too much effort. With all these questions roaming around my head, I thought of a product that would meet many bikers needs. Why hold an umbrella while biking when you can have one already installed onto your bike? No longer would bikers have to get off their bike or be forced to wear garbage bags on them. This is a big opportunity because this need is yet to be met and with the constant rainy weather in Gainesville, many students who both ride a bike as well as a motorcycle/moped will now be protected under a bike cover, umbrella.

   The name of the product I have designed is called “Coverella”. It’s not a normal umbrella attached to a bike, but rather a clear plastic material that is collapsible. You first attach it to the bottom of your seats bar and it will extend a few inches out towards the wheel and then be able to be pulled up and around you towards your handle bars under bar that is attached to your frame. This will allow you to be safely protected from the rain and wind while you’re biking. Not only is it a simple cover, but there will also be two things installed onto it to allow you to have clear visibility while biking. You will have collapsible rain wipers on all sides of your bike that are to be put into outlets that will power it to function. The second installation will be a small heating mechanism that will be attached to all sides of the cover that will heat the cover and evaporate the fog from the cover. The cover will also include to windows that you’ll be able to unzip if you need to. Once this product is officially developed and looked at it, I will start contacting stores who want to buy my product and have them in turn sell it to their loyal customers. I will also develop a website where customers will also have the option to buy it online rather than bike shops and other stores. It will go for sell on line for about 100-200$ depending on how much it cost to develop one and other related costs to keep the business running successfully.

     

Week 11 Reading Reflection

The biggest surprise from my reading was coming to the conclusion that the customer is in control and makes all the decisions rather than the entrepreneur him/her self. What was both confusing yet shocking was reading that mobile marketing is going to be a major key to successful marketing for companies. Two questions I would ask the author is why are entrepreneurs scared by the idea of sampling, surveying, and statistical analysis . Second question would be why is mobile marketing going to be our future. There was one thing is disagreed on . I don't believe mobile marketing is our future because no everyone has a phone nor is it the only electronic we use.

Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 

The current revenue drivers I include in my business concept is hight profit margins and angel investors. Angel investors are investors that basically invest in your company for nothing in return. 

• Describe what kind of product offering you believe should be next. What's the next thing your customers want? I already have a set plan on creating a bike umbrella/cover for bicycles. 

Due to the feedback on covers for motorcycles, I will start drawing a model for it. After that I want to design a moped , motorcycle or even a bike that already has a cover installed into it. Think tiny one seat car.

• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

This "next thing" will improve the users experience as well as please the customers needs. They've asked for a cover for their mopeds, and I'm starting to draw a sketch for it. It will also push customers to buy my product  instead because my product will already include a cover on their moped that will also be detachable or be able to be collapsed with an easy button . 

• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

I couldn't find a cover/umbrella for a moped or motorcycle, but the photo below is a picture of an umbrella attached to a bike. Please not that my design is not what is shown in the picture. 

• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

All six reviews were negative and described the product as one with many problems. Its a good product if used my itself, but they have problems attaching it to the bike as well as it not doing its job well.

• Describe what design/usability changes you'd make to the product. 

The main problem I had with the design is that the umbrella seems to small. It will most likely just cover your face and not your whole body. If I had to make a small adjustment to the design of this product, I would definitely make the umbrella wider so that it reaches the back of the bike. I would also fix the attachment part so that it is able to adjust on the bikes handle bar.

• Describe why you think this product would make a good addition to your current product/service offering.

This product would be a good addition because I will be able to meet several customers needs rather than those that ride bicycles . I'll have a varied selection of items that most people would able to purchase.

My Unfair Advantage

Resources in my venture:

1. Connected to many organizations with University Of Florida: This resource VRIN because it allows me to connect and gain support with those organizations that I am a part of
2. Over 4 years of job experience: This recourse is VRIN because with all the experience and knowledge I gained while working in various stores, it will allow me to run a business with people that are willing to work as hard as I.
3. Amazing team of people supporting my product: This is VRIN because not many have people surrounding them that believe in them and their goals.
4. Great credit score: This is a VRIN because with my credit score I am able to take out loans if necessary
5. Education: This is a VRIN because many entrepreneurs create businesses without a college degree. Taking this course has allowed me to have a better insight in the business world
7. Access to innovation hub: This is a VRIN because it allows me to have access to other entrepreneurs and potential investors
8. Amazing team: This is a VRIN because I have several people on my team who each study a different major but who can all contribute to the company and input great unique ideas because of their background
9. Selling to a specific customer: This is a VRIN because I have a specific targeted customers that will buy my product because it is made for them.
10. I've come up with a unique idea of wanting to sell a bike umbrella/cover: The is a VRIN because this is the sort of product that needs to be put onto the market and is much needed but has yet to be introduced to world.

My top recourse is probably having an amazing group of people who have given me great feedback throughout this course. With their feedback, I was able to manipulate my product to an even better one. It still needs some work, but I'm sure with them on my side I will be able to accomplish great things.

Growing My Social Capita

John is a sales rep that has been working at chain reaction for many years. He has a lot of experience and knowledge on bikes and how they work. He also rides. Due to Johns experience with bikes, he will be considered as the domain expert. I was able to contact John because his store is where I bought my bike and sometimes pop in to get a quick fix or new merchandise. Knowing his background with bikes, I asked him if I could receive his feed back on my bike cover idea. He nicely said yes, and didn't ask for anything in return. With his feed back I hope to better improve my model and eventually seek out investors.

With John's help, I was able to get in touch with the owner of the shop who would be great because he owns one of the many successful bike shops in Gainesville. The owner of chain reaction will be my market expert. He will fill the spot because he knows the bike market because he's been selling products to my customers for many many years so he knows what sells and what doesn't. Essentially, the demand. He will be giving me feedback on my product as well as advise . The only favor he wanted mack was to let him see the actual model if I were to ever go for bringing my product to real life.

 With both of the above help, I was also able to get in contact with on the suppliers who apparently supplied the bike light I currently use when riding. Sam also has a background with riding and has been the supplier for chain reaction since their doors first opened. This meant a lot to me because not only was he a suppler to a great store, but also loyal due to the many years he worked for them. Sam will take up the supplier slot. He will fill this slot by giving me advise on my product because he does supply to the peoples demand. He will be able to not only just give advise on how to put my product out there in the market but how I can get it mass produced and where to sell it. 

Speaking to all three men was amazing and eye opening. I'm glad I got the opportunity to talk about my product and how to make it better as well as how to introduce it . With their input, I will make subtle changes to my product as well as think of the next steps on how I get big investors to check my product.

Week 10 Reading Reflection

Being a college student, you don't normally worry about your assets and equity until you've graduated and settled down. Reading the section regarding the balance sheet was interesting because I got to gain new knowledge on how liabilities all works. One part of the reading that was confusing to me was the type of liabilities and which were considered long or short term. Two questions I would ask the author is how is a loan considered a long term liability if there is some out there that you would have to pay after 6 months? Why is there no affect on the market value of the stock? Throughout my reading, I found no issues with the authors topics/explanation.

Elevator Pitch No. 3

During my last elevator pitch, the feedback that I received were mostly positive. Everyone seemed to like my product, and thought my product could become the next trend. However I did receive feedback on the way I presented my pitch. This did have something to do with me not feeling well on the day of the recording. Based on past feedbacks, I decided to not just describe the product but persuade you to why you should invest in my product. You don't have to be a bike rider to buy my product. This is meant for those that have a bike or motorcycle and those that are looking for a unique gift to get for their friend. My product like described before will have a built in heating mechanism that will allow you to have visibility when riding as well as window wipers to assist with seeing. This seems like a bulky product but it isn't. You'll be able to carry it on you like a bag and it will also be affordable! With my product you don't have to worry about getting you and your belongings wet . Say good bye to awful long rain coats.

Week 9 Reading Reflection

The biggest surprise from my reading was coming to the conclusion that the customer is in control and makes all the decisions rather than the entrepreneur him/her self. What was both confusing yet shocking was reading that mobile marketing is going to be a major key to successful marketing for companies. Two questions I would ask the author is why are entrepreneurs scared by the idea of sampling, surveying, and statistical analysis . Second question would be why is mobile marketing going to be our future. There was one thing is disagreed on . I don't believe mobile marketing is our future because no everyone has a phone nor is it the only electronic we use. 

My Secret Sauce

What makes me unique?

1. I'm part turkish and Venezuelan 

     2. I am a first year generation student

 3. I aways drive myself to to better 

                 4. Lived on a boat for the majority of my life

      5. Traveled to many parts of the world

To summarize, I am aware of the many issues surround animal agriculture due to my major. I'm very independent and hardworking. According to her, I'm also a great cook.

To summarize, I am very creative especially with my innovative idea of producing a bike umbrella.

What makes me unique is my organizational skills and the fact that I'm part Turkish.

To summarize, I do many unique things and is an all around good friend. 

To summarize , I am self motivated and able to get the job done as well as push other to do the same. I also put other first before I put myself.

Those that know me best, and what you've just watched is how I see myself. I am hardworking, driven, loyal, kind, unique and all those traits described. The people that know you best are the best way to know what kind of person you are because they are constantly around you. You can try to describe yourself, but many of us tend to make us look better than we actually are compared to those who surround you on a daily basis and are able to judge your character, and tell you if you did something wrong. To conclude, there are no differences between what I said and what they said other than the fact that I've lived on a boat. After watching the interviews, I can say that I agree with them and I wouldn't want to make any corrections on my list.

Idea Napkin No. 2

Hello my name is Stephanie, I've had five jobs working in retail . In these five jobs, I learned how to sell , lead a team, organize, money handling skills and other operation skills that one would learn from working in retail. My skills other than what was listed above are, creativity in the arts, computer skills, first aid , food safety, etc. In the field of entrepreneurship , my aspiration is to be able to graduate with knowledge on how to succeed on being a better entrepreneur so that I can open my own business one day and have my product be sold in multiple stores. The product I would be distributing to other stores via my business is a bike cover that would protect the rider from both the wind and rain while biking. The product would be clasped around the bar under your bike seat and will extend over your wheel and then go over your head towards the bikes handle bars. Think of a cover you'd find on a car. However, with the feedback that I have recently received there has been a few adjustments made. Due to the fog and rain drops, a small heating mechanism to heat up the cover will be emplaced to allow the rider to have a clear view of the road. Small adjustable wind wipers will also be attached to the cover. All will be powered by solar energy. Although this may seem bulky the product will still be able to collapse to a carry on bag. Due to this being being only made for bikes/scooters, my aim is to sell this product to all bike and scooter riders , especially those that are in school or bike to work. I believe bikers will buy my product because like me, I struggle to ride when it's raining. It worse when I get up in the morning and I'm in a rush but when I leave the house it's raining so Im forced to walk to class. Those like me have probably thought to themselves while they was to class, that they wished there was an umbrella attached to the bike. The problem with that however, is that an umbrella won't be able to protect you from the wind and the your belongings might get soaked.

                                                          Feedback Memo
During my round of interviews, I received both good and bad feedback from those I interview and those that commented on my blog posts. Hearing these feedbacks opened my eyes because I never thought my inventions had an faults. It's a simple product, however even the simplest things can cause the most problems. I realized that I didn't think of the visibility of the product and how the rain would affect the cover. The cover will now have wipers, to clear off the rain, and a small heating mechanism to clear off the fog. With all these feedback, I hope to make a better and safe product.

Week 8 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? The biggest suppose while reading chapter 8, was the way certain business capitalize on certain products that they sell to consumers.

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

Due to not having any back ground in capitalism, most of the information read wasn't something I knew or understand.

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

Two questions I'd ask the author is what truly motivates one to even start a business?How do they capitalize?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? There was nothing I disagreed on