Assignment 22A: Elevator Pitch No.3

The Pitch 
https://drive.google.com/open?id=1l9i397TX7HeSsuW2yA4OicfeZdIm7Xx7


Reflection on Feedback
Something that someone commented on was that they could tell how passionate I was on my idea. Thus, I knew that it was important to keep that the same, and really translate that again in this pitch. Another piece of helpful advice was how I could provide more information describing the product, and explaining how it differs from what is currently on the market.

What I Changed
In this elevator pitch, I tried to make my concept of the product more visual by using more descriptive words. I also explained what is currently on the market, and how it does not fulfill the need as well as my product does. I definitely felt even more confident in this pitch than the last one.

Assignment 21A: Reading Reflection No.2

Innovation and Entrepreneurship by Peter Drucker

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

The general theme of the book was assessing how entrepreneurs have been doing in the US over the past few years, and then dissecting what is was that made them successful. The book focuses in on the success principles and themes of their success, and leaves it to society to apply it into their own business ventures.

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

I connected mainly with Drucker's definition of innovation, as it paralleled what we learned in class. He explains how innovation comes from a change that occurs, and an entrepreneur exploiting this change and creating something. This fills a need in the market, and is something that would benefit consumers, and thus a business is created.

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

It would be to find major changes that have occurred in our society in the past century, and then finding areas to exploit in these times of change. Then, students can list possible solution they would have in response to these areas of change. 

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

My biggest surprise was how entrepreneurs were still able to foster innovation during what seemed like stagnant times in the US. Even while the US was at war, there were still businesses up and running that were successful despite the odds.

Assignment 20A: Growing Your Social Capital

Domain Expert in Industry 

• Martin Schaffel is founder of AVI-SPL, a company now worth over millions of dollars. He is now a professor at UF and teaches Entrepreneurship. As a student in his class, I was able to reach out and gain information from him.
• Mr. Schaffel successfully sold projectors, and did this by targeting his consumer and selling them the product. 
• He is able to help me throughout this process by telling me through his experience what actions he took that were and were not successful. 

Expert on Market

• Pablo is founder of the company Rootex, a local marketing agency. I met him at Startup Showcase in the Fall of 2018, and am now his social media intern.
• He has successful been able to target certain segments of a market through various social media analytics. 
• He will be able to assist me in reaching out to my intended customers, and receiving feedback to perfect my product. 

Supplier to Industry 

• Isaac is found of Imprint Genius, a local custom advertising firm that makes and order custom items such as T-shirts and phone chargers. Through a networking event of entrepreneurs, I was able to meet him and get to know the business. 
• He successful runs his own company with some friends, and is constantly producing new merchandise items.  
• By connections he has with a Chinese factory, he would be able to assist me in a prototype, and eventually full scale production of my product. 

Reflect

This is an extremely insightful experience, because you not only build relationships with other people, but get connected to an even greater network through their friends. You are able to acquire so much advice based off of experience, which is essential to anyone starting a business for the first time. 

Assignment 19A: Idea Napkin No. 2

You: I am good at being able to lead and manage others. This is important when it comes to working on a team and delegating tasks. In my short time here at UF, I have already gained so many entrepreneurial experiences. I have been able to hear from many successful business owners about what they did well, and not so well on their business ventures. This provides me some tips on what to do in my own business. My aspirations for this business would be to grow it to a national scale, meaning developing products that could be sold throughout the United States, and then stepping back from it and simply collecting royalties. Since I am able to envision where I would want to be 10 years from now (being profitable off the business), this is what drives my to work so hard each and every day.

What are you offering to customers: I am offering a convenient way to make earbuds less of hassle. This product reduces frustration, and allows customers to carry on with their day hassle-free.

Who are you offering it to: Specifically, this product would be for younger phone and laptop users. Those withing the age range of teens, to those in their 30s would most likely take advantage of this product. This would not include users that use Bluetooth devices such as Air pods or a no hands set connected to their phone.

Why do they care: There is nothing on the market that is being used massively on the market to solve this issue. This will be the new "trend" to solve this long standing issue. This is a product that saves people time and frustration.

What are your core competencies: I have a connection to a friend who already utilizes a quality manufacturer in Japan for his business. This would save my company time and money in search of a reliable manufacturer for my product. I am also good at being able to network with others, and leverage these networks for either my own business, or to help the business of others.

I believe that these five elements work together to build a strong business. Having good leadership skills allows me to take my company idea from imagination to reality. Also having a strong network within the entrepreneurial community provides me with plenty of experience and help to try and avoid as many future errors as possible.

Feedback Memo

• One of the things that I am told is that I do not give myself enough credit sometimes. I have way more to offer to others than I think. Thus, under 'core competencies' I added my ability to network with others and be a helpful resource
• I was also told that I am very descriptive when it comes to envisioning my future. There are not a lot of people in college that can definitively state where it is they want to be five or ten years from not. Thus, I added this attribute under the "You" section. 

Assignment 18A: Create a Customer Avatar

Photo

As shown in this photo, the potential customer is working on their laptop with their earbuds. They are busy at work, and like to be efficient. The man in this photo also represents someone in their 20s, which is my target segment.


Customer Avatar

• Hobbies would include using laptop and phones to watch YouTube, listen to music, and listen to Podcasts. 
• Many customers can be found binge watching their favorite shows on Netflix, Hulu, or other streaming websites. 
• Family life can be situational, however majority probably do not have children and spend more time by themselves. 
• Age is late teens and 20s. 
• They are the typical individual you see on the sidewalk plugged into their device listening to whatever it is of their interest. 

Questions

• Like the avatar, I can be found with earbuds, typically listening to audios on my way to my class. I do not think this is a coincidence, because I would fall into the same segment market as my avatar. 

Assignment 17A: Elevator Pitch No. 2