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? 

I enjoyed this chapter as well as learning about the different ways that entrepreneurs make money and get it before they make a profit from their product or service. I learned many new vocabulary words that I found interesting, especially in the way that they correlate with entrepreneurship. I also felt like I was able to get a lot out of what a venture capitalist is as well as the process they go through when being evaluated. 

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

I felt very in tune with this chapter and did not find any of the topics to be confusing. It was an easy read and the author did a good job at getting his point across. 

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

I would ask the author how he went about collecting his data for this chapter as well as does he think things have changed in any way from when he wrote the chapter to now.

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

I did not find anything the author said to be wrong. I agreed with his points, especially the ones where he spoke about the myths of venture capitalists. 

Half-way Reflection

1) Tenaciousness is a skill. What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 

I have been diligent with the assignments we have been asked to complete. I take them seriously and do them as best as I can. I try to complete them on the same day each week so that I have a proper amount of time set for getting them done. I have also had to think outside the box many times which is something that can be difficult to do. 

2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

Many times I have looked at an assignment and know that its going to be a pain to complete it or that it is going to force me to be outside of my comfort zone. I'm a person that is an introvert until you get to know me. Many of these assignments ask us to go up to people that we do not know at all and it is hard for me to want to do. What pulls me through is knowing that I can get a good grade in this course by simply completing these assignments. 

3) Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset'?

To students taking this course next semester, I urge you to go into it knowing that you will have to think outside the box. You will also have to be okay with being outside of your comfort zone. I think that doing these things definitely helps develop our skills for becoming an entrepreneur though. For those taking this next semester, they need to be ready to have 4 or 5 assignments every week and set enough time aside to get them done. 

Week 7 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? 

Before reading this article, I was unaware of market segmentation or what it really meant. But from this article I learned a few main points. I learned that market segmentation can guide companies in providing the best products and services to their customers. Segmentation is based upon consumers and the products and services that they want and are looking for. When perfecting a product, marketers must take into account what consumers want as well as maintain a competitive advantage. 

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

I felt that the reading was very clear and I understood all of the point the author wanted to make. It was a good read and I did not find anything to be confusing, in my opinion. 

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

If I could ask the author two questions, I would ask him how he became interested in this topic and what kind of research did he conduct to support his theories. 

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

This article taught me a lot about segmentation within the market and how, many times consumers' needs are not met because they are not looking for the targeted items. I did not disagree with the author because I found that what he wrote about was actually quite true. 

Elevator Pitch No. 2

1) Pitch: https://www.youtube.com/watch?v=jsm4nXGKeV4

2) A reflection on the feedback you received from your last pitch:
The comments I received on my last pitch where all very helpful and I took them seriously as if I was doing a real life pitch for my product. Most of my feedback said I did a good job giving the pitch and that I looked comfortable in front of the camera. For this pitch, I hope I improved on getting my message and thoughts out, and that the product sounds like it could be useful and beneficial!

3) What did you change, based on the feedback?
Based on the feedback I received, I spoke about how condensation can be an issue on camelbacks and bottled products first and then went on to introduce my product and my idea for using cork on the product.

Customer Interviews No. 3

1) Describe your interviewing strategy:
I wrote out a small paragraph that described my product. I asked undergraduate students on campus questions about my product. I then asked four questions which included: What was your reaction to the product?
What do you think the price range should be?
Would you use the product?
Do you think this would sell on a college campus? If so, to who specifically?

2) Conduct the interviews:
https://www.youtube.com/watch?v=PWCT7HCUxLE

3) Reflect on what you learned:
I began my interviews with a completely different set of questions and product. But, from this product I learned a lot about what students want or need when it comes to something as simple as a bottle for their beverage of choice. As an outcome of these interviews, I believe I have gotten more comfortable with talking to strangers even if it is a little intimidating. I would also love to find a way to make a sample of my product and determine if college students would really purchase it.

Week 6 Reading Reflection

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? 

1) This reading was about the five competitive forces that shape strategy. The entire read was a surprise to me and I felt like I learned a lot from those few pages.  I learned you can never lose sight of the big picture and must take all five forces into account. The five forces include rivalry among existing competitors, bargaining power of buyers, threat of substitute products or services, and bargaining power of suppliers. It was interesting to read how each of these aspects can shape a strategy.

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

2) I found the reading to be clear. The author explained all the points he wanted to address and backed it up with examples.

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

3) I would ask the author how much time and research he put into writing this article. I would also ask him what kind of studies he conducted when putting this together. 

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

4) As a business student, I enjoy reading these kinds of articles and want to learn as much as I can before I enter the real world. I did not disagree with anything the author said and found that I agreed with it.

Idea Napkin No. 1

1) I am a third year Marketing major with a minor in Entrepreneurship. I started my time here at the University of Florida as a pre-dental student. However, I was unaware of the amount of hard work and effort it takes to achieve such a goal. I was also not fully ready to achieve this goal. Currently, it is my goal to graduate with my Business degree and work for a few years before I decide where I want my life to go next. If I were to start my business, it would play a role in my life everyday. I carry a camelback everywhere I go to constantly keep myself hydrated so I know I would absolutely use my product.

2) I am offering to customers an innovative to drink water or any cold beverage. This product will be made with a thin layer of cork around the bottle so that condensation will be prevented. I know many people, myself included, hate when their water bottle or camelback condensates as soon as they poor a cold drink or bottle of water. My bottle will prevent this from happening.

3) I am offering my product to anyone who brings a bottle to keep themselves hydrated no matter where they are.  

4) I believe customers will pay for this product because it will be around the same price as an camelback but it will be different from what is already out there. There is no water bottle or camelback that is made of cork. This product will prevent condensation and can be customized any way a consumer wants it.

5) What sets this product apart is that there is nothing like it, and I think it is something that could be extremely successful.

I believe that the idea of my product definitely fits together. I would need someone to draw the product and come up with different designs. The product would need to be tested so I can determine if it would work and be useful. If I find that the product testing is successful, then it absolutely something I would advertise and hope to sell to customers. 

Elevator Pitch No.1

1) Video of Pitch:

2) The name of my business is Healthy Hydration. Coming up with an idea for this assignment was really tough for me because I find it difficult to think outside of the box. I was going back and forth on ideas with my dad and we started talking about water bottles which led to camelbaks. I use mine everyday religiously and I know many students use them as well. But I found that every time I would fill it with cold water, the outside would within minutes start to condensate. This irritates me because it gets my hands wet or makes a ring on the table or if it brushes up against something, it makes it wet. I thought about materials that could prevent this from happening and came up with cork. Corks are used for wine bottles because it does not absorb the liquid. So, using cork as an outside layer of the camelbak will prevent condensation.