Week 8 Reading Reflection

1. The biggest surprise for me in the reading of Chapter 8 was how much finance was incorporated and influences entrepreneurship. The book mentions topics such as ventures, loans, and debts vs. equity. These are all crucial parts of being an entrepreneur because your ideas must be backed by actual funds. Many people save money or borrow in order to make these ideas possible and successful.
2. One part of the reading that was confusing to me was the part that talked about venture capitalists and their returns on investments. I felt like the book did not illustrate this topic in a simple way for people who are not knowledgeable in finance to understand clearly.
3. If I could ask the author two questions I would ask him (1) "On average, which is better, angel financing or venture capitalism?" and (2) "How effective is angel financing?"
4. There was nothing I thought the author was wrong about. This chapter was very fact-based and included very few opinions from the author. Also, I felt less knowledgeable on the background of this chapter than I have felt towards the background of previous chapters.

Half-Way Reflection

1. This course definitely requires you to be organized. Make a set schedule for yourself is crucial in order to keep up with the assignments and your blog. It requires much planning ahead of time, not only to decide when you will complete the assignments, but how they will be completed in order to put out the best content. It also forces you to get out of your comfort zone through assignment videos of yourself and with strangers.
2. In this class, I have often been tempted to give up because there are constant assignments and blog posts that must be completed. However, I pulled through because in this class, whatever grade I get is up to me. There are no exams, quizzes, research papers. Therefore, if I get a grade I am not happy with, it would 100% be my fault. This class has definitely made me more tenacious through its assignments and workload.
3. Three tips I would offer future students who are interested in taking ENT3003 regarding tenacity would be:

• Plan ahead. Plan what blog posts you want to complete on which days and what type of content you want to deliver for each post. 
• Be detail-oriented. In my experience, I get the most positive feedback when I provide my audience with details about my ideas, interviews, or research. Posting specific content directed toward the matter will make your posts more interesting and unique. 
• Remember YOU are in charge. Whatever grade you get in this course is up to you. How much effort you put in will directly correlate with the grade you receive. Put in the work and you will get the best results. 

Free Money

Strategy: 

For this exercise I decided to complete it outside an apartment complex close to where I am currently living and in the new expansion of the Reitz Union on campus. I approached strangers who were on their phones or about to get into their cars to go somewhere. The purpose of the strategy for who I picked was to get a sense of what it is like to actually interrupt customers in order to deliver a sales pitch. To get the conversation started I would say "Excuse me, can I ask you a question?" and when they would say "yes" or "sure" I would ask them them a question based off of a current event or general world knowledge. I asked "Can you tell me which candidate recently dropped out of the race for President of the United States?" or "Is the moon a star, satellite, comet, or planet?" I gave the dollar away to those who answered the question correctly. I did this because I felt like if I just offered a dollar to strangers, people might find it suspicious or weird. However, everyone likes being right and winning. This way is more effective and encourages people to stay updated in today's world and know basic facts. When I began this exercise, I believed I would be able to give out 3 dollars. 

Results: 

I found this exercise very interesting but more difficult than most others I have completed in this course. Giving away the dollar was just about as hard as I expected it to be because people were hesitant to take their time to talk to a stranger. My predictions were more or less correct but not exact. Four out of the five students answered the questions correctly; I predicted three would answer correctly. The assumptions I made about the people I would approach were that they would be intellectual and up to date on current events, and I was correct. 

Week 7 Reading Reflection

1. Th biggest surprise for me in the reading was learning how traditional demographics like as age, sex, education, and income are no longer the basis for marketing strategies. Now, marketers turn more to nontraditional demographics such as values, tastes, and preferences for this research and for strategies. This type of demographic (nontraditional) is more likely to influence a consumer than traditional ones.
2. One part of the reading that was confusing in my opinion was the part where the authors (David Yankelovich and David Meer) explained the different segmentations for different for different purposes. The diagram shown does not clearly illustrate what I feel they are trying to convey. The following information also does not go into enough detail regarding the matter.
3. If I could ask the authors two questions I would ask them (1) "What studies have you conducted that prove that nontraditional demographics are more effective than traditional demographics when building a marketing strategy?" and (2) "Which characteristics of consumers change most directly when their values and environment change?"
4.There was nothing in particular I think the author was wrong about in this article.

Elevator Pitch No. 2

The Pitch:

A Reflection on Feedback & What I Changed:
My last elevator pitch received very positive feedback. People agreed that this is a huge problem here at the University of Florida and needs to be solves immediately. The only negative feedback I received was that it was a bit casual in manner/attire. To improve my elevator pitch this time around, I dressed in business attire and altered my speech a bit to make it a tad more mature and elegant.

Customer Interviews No. 3

My interview strategy was to get a non-bias opinion from people. This would help me to really know if my idea is a good idea. 

From the interviews I learned that students would be much more motivated to attend class, events, meetings, etc. on campus if parking was not such a hassle, as it is now. What surprised me the most is how much students currently miss due to the lack of parking. Many miss their meetings at night because walking on campus in the dark can be scary and there is no parking for them to drive. As an outcome of these interviews I expect students to voice this concern of theirs more to encourage UF to building more parking areas.

Week 6 Reading Reflection

1. The biggest surprise for me in the reading was learning how much power suppliers have. I always supposed buyers had all of the power because they have the money suppliers want. However the reading taught me that suppliers can be powerful when they exert an influence on the producing industry, for example.
2. One part of the reading that was confusing to me was the part where the author, Michael Porter, illustrated descriptive and analytic models of the industry at a given state. I did not understand the format nor what the author was trying to illustrate to his audience.
3. If I was able to ask Michael Porter two questions I would ask him (1) "what is the biggest difference between buyer power and supplier power?" and (2) "what would you say is the biggest barrier to entry in most markets today?"
4. There was nothing I disagreed with the author on in this article or thought he was wrong about.

Idea Napkin No. 1

1. I am Nicole Romero, entrepreneur and owner of Gator Construction. My talents consist of create spaces for businesses and individuals in the Gainesville area. My skills and experiences include 5 years in the construct industry, constructing for businesses such as Circa Properties and Trimark Properties. My aspiration regarding UF is to oversee the construction of new parking garages on campus to make travel to school easier for students.
2. I offer to customers a more simple way of getting to campus for students and faculty of the University of Florida. With new garages, more people would be able to drive to campus.
3. Those who my product/service could benefit include students, professors, faculty and alumni. What they all have in common is that they all have a need to get to campus fast.
4. UF will pay money for the construction of such garages because it will encourage students to attend class more and be more involved on campus. Students will also have to purchase parking decals which will generate revenue for the school. Therefore, it is an investment because after the project is paid off they will be able to make a substantial amount of money off of it.
5. What sets Gator Construction apart from other construction companies is our unique designs and effectiveness. We can complete projects fast and with low costs.
I believe these five elements fit together very well. Together, they create a business that strives to simplify the needs of those traveling to school or work everyday. A part of my business concept that may not be as strong as it should be is the idea that I would need to convince the university that this building will be vital to students and faculty and they should use their unused space for this project. Space to build at UF is limited, therefore making this project more difficult due to the lack of extra land.

Elevator Pitch No.1

Opportunity: Due to the lack of parking here at the University of Florida, there is an opportunity for the school to build parking garages in order for students and faculty to drive to campus more easily. 

Solution: Build 2 parking garages on campus for those with decals to park. 

Company name: Gator Construction