1. I id not have any surprises in this reading, it was fairly simple to understand and quite informative.
2. Nothing confused me as well, as I mentioned above it was fairly simple to grasp.
3. What is the main thing I should focus on when starting my venture?
What is the main thing that I should avoid when starting my venture?
4. I do not disagree with the author about anything.
Sunday, April 24, 2016
Final Reflection
1. This semester was great, It definitely flew by. It was fun to read my blog and see my growth. by reading my posts it was apparent that I was struggling with a couple concepts at first. However the more of my blog that I read the more I was able to experience my growth. The hardest moments of this class were the assignments in the middle. It is always hard for me to finish what I started so I struggled a little there.
2. The most important experience for me was the interview one. It was incredible to sit down and talk to a successful entrepreneur and pick his brain. I will definitely remember that. My most joyous experience was interviewing people about what I should include in my company. And my most proud experience was probably improving my elevator pitch.
3. I believe that I am now an entrepreneur. Although I have not started my own company, I think that I am capable and I understand the psychology that goes into it.
4. The only thing that I would recommend is to use a planner. A planner was my knight in shinning armor for this class. Without it I don't know what I would have done.
Wednesday, April 20, 2016
Venture Concept No. 2
1.
Opportunity: From a very young age American children are lead to believe that college is the best time of their lives. We all heard it growing up, Dads reminiscing on fraternity parties, and Moms talking about how much fun they had with their friends. However, when I got to college I caught myself looking around saying "This is supposed to be the best time of my life". I am not sure whether I was spoiled growing up in Miami, however these years were nothing special. However, when I went to Tallahassee my freshman year I was enlightened to what could have been the most fun I have ever had. Everywhere I went there was hundreds of people. Entrance was very cheap and everyone was having a great time. Gainesville on the other hand had higher cover charges, more expensive drinks, and less attendance. I was amazed by this. That is like charging people more money to get in to a county fair than to get into Disney World. It literally made no sense. Therefore, I saw this as a huge opportunity to change the culture and make some money for my future endeavors.
Innovation: I wanted to create a promotional company that would be able to drive attendance through the roof by promoting efficiently. I would promote efficiently by having multiple promoters in each fraternity and sorority. Also, I would have campus promoters who were not greek affiliated. These promoters would be able to get the word out efficiently. When these people inspire enough people to go to the bar the bar would be able to cut cover charges and drink prices. The reason they would cut down these prices is because of the drastic increase to volume. The amount of volume that promotions would bring would allow the bars to remain profitable even when cutting their drink prices. Also, I would change the dimensions behind night life. I would make lady's night on both Wednesday and Friday. By doing this, I would be able to increase the amount of people going out effortlessly. also I would have drink specials on Monday, Wednesday, and Fridays. These drink specials would include BOGO Y-bombs, and all you can drink specials. The main thing that I would do to increase attendance is a bus system. On Fridays at around 6 I would send busses to every greek house to pick up everyone that wanted to go to the bars. These busses would take the people to whatever bar that has the happy hour that I created.
Venture Concept: The only competition that this company faces is competition from people who promote Downtown Gainesville. However, these people are typically older and not involved in the Midtown scene. The area in which I am able to beat them out is customer relatedness. As I stated above these people are typically older and are not as involved in the needs and wants of my generation. Therefore, I would be able to address those needs effortlessly and service to them.
2. For this exercise I did not receive any feedback because I did not do it originally. However, I did receive a lot of feedback throughout this class about this idea and I will touch on that. One of the main concerns people had about my idea was how I was going to decrease cover prices and rink prices. This is relatively simple to explain. You drive up volume. When you drive up the volume you drastically increase profit. It takes them little to nothing to make those things so they could easily drop their prices.
3. I tried to make my venture concept extremely clear as to how I would drop these prices so that people understood that I was not just blowing smoke.
4.
Opportunity: From a very young age American children are lead to believe that college is the best time of their lives. We all heard it growing up, Dads reminiscing on fraternity parties, and Moms talking about how much fun they had with their friends. However, when I got to college I caught myself looking around saying "This is supposed to be the best time of my life". I am not sure whether I was spoiled growing up in Miami, however these years were nothing special. However, when I went to Tallahassee my freshman year I was enlightened to what could have been the most fun I have ever had. Everywhere I went there was hundreds of people. Entrance was very cheap and everyone was having a great time. Gainesville on the other hand had higher cover charges, more expensive drinks, and less attendance. I was amazed by this. That is like charging people more money to get in to a county fair than to get into Disney World. It literally made no sense. Therefore, I saw this as a huge opportunity to change the culture and make some money for my future endeavors.
Innovation: I wanted to create a promotional company that would be able to drive attendance through the roof by promoting efficiently. I would promote efficiently by having multiple promoters in each fraternity and sorority. Also, I would have campus promoters who were not greek affiliated. These promoters would be able to get the word out efficiently. When these people inspire enough people to go to the bar the bar would be able to cut cover charges and drink prices. The reason they would cut down these prices is because of the drastic increase to volume. The amount of volume that promotions would bring would allow the bars to remain profitable even when cutting their drink prices. Also, I would change the dimensions behind night life. I would make lady's night on both Wednesday and Friday. By doing this, I would be able to increase the amount of people going out effortlessly. also I would have drink specials on Monday, Wednesday, and Fridays. These drink specials would include BOGO Y-bombs, and all you can drink specials. The main thing that I would do to increase attendance is a bus system. On Fridays at around 6 I would send busses to every greek house to pick up everyone that wanted to go to the bars. These busses would take the people to whatever bar that has the happy hour that I created.
Venture Concept: The only competition that this company faces is competition from people who promote Downtown Gainesville. However, these people are typically older and not involved in the Midtown scene. The area in which I am able to beat them out is customer relatedness. As I stated above these people are typically older and are not as involved in the needs and wants of my generation. Therefore, I would be able to address those needs effortlessly and service to them.
2. For this exercise I did not receive any feedback because I did not do it originally. However, I did receive a lot of feedback throughout this class about this idea and I will touch on that. One of the main concerns people had about my idea was how I was going to decrease cover prices and rink prices. This is relatively simple to explain. You drive up volume. When you drive up the volume you drastically increase profit. It takes them little to nothing to make those things so they could easily drop their prices.
3. I tried to make my venture concept extremely clear as to how I would drop these prices so that people understood that I was not just blowing smoke.
4.
Elevator Pitch No. 4
1.
2. People wanted me to present my concrete ideals. For instance, the last time I did this I did not really mention my plans for promotion as much as I mentioned how successful I think it could be. Also, they wanted me to be more engaging so I tried to engage the audience a little bit more this time around. I did not receive any surprising or silly feedback, thank goodness.
3. I changed my engagement with the audience. Also I mentioned concrete examples for how I was going to better attendance.
Sunday, April 17, 2016
Week 14 Reading Reflection
1. Week 14 provided me with a deeper understanding for how many factors go into someones work. I enjoyed the pie chart segment on internal and external issues. Overall this was probably my favorite chapter.
2. Gradual internalization was pretty confusing to me. I am not sure why it was so confusing I think I was initially intimidated by the name. However it explains the different richness of certain economies.
3. Should you follow ethics or your own morals? How hard is it to incorporate ethics in a business that bankrupted for not having any?
4. There was nothing I disagreed with the author about.
2. Gradual internalization was pretty confusing to me. I am not sure why it was so confusing I think I was initially intimidated by the name. However it explains the different richness of certain economies.
3. Should you follow ethics or your own morals? How hard is it to incorporate ethics in a business that bankrupted for not having any?
4. There was nothing I disagreed with the author about.
Thursday, April 14, 2016
Google Gold
1. For my blog I tried to limit how public it was. I am actually going to pursue this idea so I dd not want to reveal my future methods for my business. I worked very hard constructing my ideas therefore, I did not want someone to read my blog and take credit for my work. However, I did share it via Google.
2. My key words were, promotion, and entrepreneur. I selected these keywords because these words were what my company evolved around. I kept these words constant through out the semester.
3. Once again I did not try to publicize my blog as much as others. This idea really hit home to me so I kept it as sacred as I possibly could. However, as mentioned above I shared it through google. By sharing it I was able to have 500+ views.
4. My post on celebrating failure received the most traffic. I think this post contained the most views due to the fact that I was brutally honest when discussing my failure. It is apparent that people respond to honesty.
5. I made it to the 7th page. As mentioned above this is more or less what I wanted. I did not want everyone having access to my ideas. However, I am fine with a few people viewing them.
2. My key words were, promotion, and entrepreneur. I selected these keywords because these words were what my company evolved around. I kept these words constant through out the semester.
3. Once again I did not try to publicize my blog as much as others. This idea really hit home to me so I kept it as sacred as I possibly could. However, as mentioned above I shared it through google. By sharing it I was able to have 500+ views.
4. My post on celebrating failure received the most traffic. I think this post contained the most views due to the fact that I was brutally honest when discussing my failure. It is apparent that people respond to honesty.
5. I made it to the 7th page. As mentioned above this is more or less what I wanted. I did not want everyone having access to my ideas. However, I am fine with a few people viewing them.
Monday, April 11, 2016
Very Short Interview, Part 2
Part 1
When revisiting my initial interview I was happy to see how every question I had has been answered by this class. The initial interview was good not great. Bob provided me with great advice, however I wish I was easier to talk to and maintained a flowing conversation. Bob was very sincere and I really enjoyed rereading his interpretation of a entrepreneur.
Part 2
I avoided recording this interview to make sure Bob felt comfortable. I wanted to encourage open conversation and make it feel more personal and less like an assignment.
Question One: What was one time you failed?
Answer: One of the many times I failed was when I understaffed to cut costs. When I did this many of my clients were upset by the long wait times. This I had to change immediately.
Question Two: What was the way that you dealt with failure?
Answer: I am a very head on person. I attack things when I fail. Therefore, whenever I messed up my new focus was learning from that mistake and saying to myself that that will never happen again. Honestly, I really do not take failure to heavily.
Question three: How did you enjoy running your own company?
Answer: I loved it. Not every man is his own boss. I was never one that enjoyed being told what to do so having my own company was a dream come true. I mean yes it is hard, however it is also extremely rewarding and very exciting.
Part 3
This interview was exactly what I wanted to see out of myself. I aspired to having a real talk with this entrepreneur now that I know more about the process, and that is exactly what we did. Bob was impressed by my questions and said after every one "that is a great question". Bob was a great guy to interview and I figure that we are friends now. This class has definitely better prepared me for the interview process.
When revisiting my initial interview I was happy to see how every question I had has been answered by this class. The initial interview was good not great. Bob provided me with great advice, however I wish I was easier to talk to and maintained a flowing conversation. Bob was very sincere and I really enjoyed rereading his interpretation of a entrepreneur.
Part 2
I avoided recording this interview to make sure Bob felt comfortable. I wanted to encourage open conversation and make it feel more personal and less like an assignment.
Question One: What was one time you failed?
Answer: One of the many times I failed was when I understaffed to cut costs. When I did this many of my clients were upset by the long wait times. This I had to change immediately.
Question Two: What was the way that you dealt with failure?
Answer: I am a very head on person. I attack things when I fail. Therefore, whenever I messed up my new focus was learning from that mistake and saying to myself that that will never happen again. Honestly, I really do not take failure to heavily.
Question three: How did you enjoy running your own company?
Answer: I loved it. Not every man is his own boss. I was never one that enjoyed being told what to do so having my own company was a dream come true. I mean yes it is hard, however it is also extremely rewarding and very exciting.
Part 3
This interview was exactly what I wanted to see out of myself. I aspired to having a real talk with this entrepreneur now that I know more about the process, and that is exactly what we did. Bob was impressed by my questions and said after every one "that is a great question". Bob was a great guy to interview and I figure that we are friends now. This class has definitely better prepared me for the interview process.
Very Short Interview No. 1
The entrepreneur that I chose to interview is Bob Simon. Bob started his own elevator company when he was 40 years old. During his journey he experience multiple ups and downs and found a way to succeed. Bob learned from his mistakes and eventually overcame them.
Question 1: What was the hardest thing about starting your own company?
Answer: The hardest thing about starting my own company was quitting my previous job. It took a leap of faith to start this company and I'm very glad I did it.
Question 2: What do you wish you learned about entrepreneurship in college?
Answer: I wish I learned more about failing. It is easy to fail when you don't have much to lose. However when you start your own company you need to know how to avoid failure. minimizing failures is key.
Question 3: What does it mean to be an entrepreneur?
Answer: It means that you are unique. You saw an opportunity and you took it. Not many people can say they've done what I did.
The main thing that I learned while speaking to Bob was that you can't be scared to fail. Bob quit his job to pursue something he liked and it turned out to be a huge success. That being said, entrepreneurs take failure as a learning tool and use what they learn for future success. Bob was an excellent interview and I greatly enjoyed this assignment.
Question 1: What was the hardest thing about starting your own company?
Answer: The hardest thing about starting my own company was quitting my previous job. It took a leap of faith to start this company and I'm very glad I did it.
Question 2: What do you wish you learned about entrepreneurship in college?
Answer: I wish I learned more about failing. It is easy to fail when you don't have much to lose. However when you start your own company you need to know how to avoid failure. minimizing failures is key.
Question 3: What does it mean to be an entrepreneur?
Answer: It means that you are unique. You saw an opportunity and you took it. Not many people can say they've done what I did.
The main thing that I learned while speaking to Bob was that you can't be scared to fail. Bob quit his job to pursue something he liked and it turned out to be a huge success. That being said, entrepreneurs take failure as a learning tool and use what they learn for future success. Bob was an excellent interview and I greatly enjoyed this assignment.
Sunday, April 10, 2016
Week 13 Reading Reflection
1. What I found surprising was the heavy focus on emotional bias. I think that this was a tad over expanded. I personally do not understand why someone would feel emotionally tied to a sinking ship.
2. I was confused by how someone would hold on to a sinking ship of a business. I feel as though that is irrational and not relatable.
3. I would ask about clues for purchase or sale of a company (not valuation methods). I would also ask for books on how to better value companies.
4. The only thing I disagree with is emotional bias. I do not think that is entirely true. Also I believe it to be quite rare.
2. I was confused by how someone would hold on to a sinking ship of a business. I feel as though that is irrational and not relatable.
3. I would ask about clues for purchase or sale of a company (not valuation methods). I would also ask for books on how to better value companies.
4. The only thing I disagree with is emotional bias. I do not think that is entirely true. Also I believe it to be quite rare.
Celebrating Failure
1. The area in which I continue to fail is remembering to do assignments. I am extremely busy and typically have a lot going on. However I made a planner I even began using sticky notes just to try to avoid forgetting. However, I can not seem to get it together. It makes me extremely upset when I do so.
2. What I have learned from it is if I do all my assignments ahead of time I have less room for failure. It has also made me learn useful tricks for remembering things.
3. I handle failure extremely poorly. I am my biggest critic. Although that is a strength it also makes provides for a lot of stress. I typically hammer in why I messed up and how it came to this. As of lately I have been improving the way I handle failure. It is not as necessary to focus on past mistakes. Instead I try to better plan my future. I am more likely to take risks now that I have a better understanding for failure.
2. What I have learned from it is if I do all my assignments ahead of time I have less room for failure. It has also made me learn useful tricks for remembering things.
3. I handle failure extremely poorly. I am my biggest critic. Although that is a strength it also makes provides for a lot of stress. I typically hammer in why I messed up and how it came to this. As of lately I have been improving the way I handle failure. It is not as necessary to focus on past mistakes. Instead I try to better plan my future. I am more likely to take risks now that I have a better understanding for failure.
Monday, April 4, 2016
My Exit Strategy
1) When I am done with my years at UF I plan on selling my business for profit. I want to use this business as a way to generate profit so that I am able to eventually create and manage my own hedge-fund.
2) I look at this business venture as a young man's dream. No one wants to be dealing with drunk young kids nightly when they are old and tired. However, I have always wanted to manage my own hedge fund.
3) My exit strategy has not influenced my decisions. I tried to not look at the exit it all and grow it to be as well off as possible.
2) I look at this business venture as a young man's dream. No one wants to be dealing with drunk young kids nightly when they are old and tired. However, I have always wanted to manage my own hedge fund.
3) My exit strategy has not influenced my decisions. I tried to not look at the exit it all and grow it to be as well off as possible.
Sunday, April 3, 2016
Week 12 Reading Reflection
1. One of my biggest surprises was the emphasis on strategic planning. I understand that planning is important but I never knew that it had to be this detailed. Prior, I believed it planning was more on a trial and error basis. However, now I see that there is a lot more behind the scenes action.
2. I found the difference between entrepreneurial action and strategic action confusing and unnecessary. These are so similar that it is confusing and quite unnecessary to separate them. En entrepreneurs actions would be whats best for the company.
3. I would ask for him to go into detail about the differences of strategic and entrepreneurial actions. Also I would ask him for ways to improve my own strategic planning for small scale businesses.
4. I disagreed with his choice of separating entrepreneurial and strategic planning. There seems to be no difference.
2. I found the difference between entrepreneurial action and strategic action confusing and unnecessary. These are so similar that it is confusing and quite unnecessary to separate them. En entrepreneurs actions would be whats best for the company.
3. I would ask for him to go into detail about the differences of strategic and entrepreneurial actions. Also I would ask him for ways to improve my own strategic planning for small scale businesses.
4. I disagreed with his choice of separating entrepreneurial and strategic planning. There seems to be no difference.
What's Next
Existing Market
1. Since my venture deals with a service I tried to focus on how to best utilize this service. I focused on whats next by implementing drink specials, making entrance more efficient, and increasing campus involvement.
2.
3. In terms of growing in my existing market it is clear that I need to gain customer loyalty and support. Therefore, these interviews are extremely useful.. For instance, one future customer mentioned that I need to get promoters from multiple fraternities so that I am best able to get maximum numbers at every bar.
Also, I received advice on how to get guys out to the bar. A future client said that I should increase the amount of ladies nights and make sure that there are beer specials. Both beer and women seem to attract guys to the bars. This was incredible advice that I will take into account.
New Market
1. For the new market I looked at expansion of my service. I want to eventually control all of Gainesville's night life. Therefore, I interviewed people that enjoy going downtown to go out. Downtown is a huge market with a tremendous upside due to the amount of people it can hold.
2. The value that I am able to offer the people of downtown is a fairly simple one. I want to increase numbers at certain bars. By increasing numbers I will be able to lower drink prices. Therefore, people will be able to go out for cheaper and thus have a better time knowing that they aren't breaking their pockets.
3.
4. What surprised me the most about this new market is the fact that people seem to want the same things as the other market. However the main difference was the fact that people wanted a cheaper transportation alternative. This market wants cheaper transportation and cheaper drinks. Most of my assumptions were correct. It seems like wherever you go people are trying to spend as little as possible. Therefore, my service will allow them to.
This new market is still extremely attractive. I can fit a lot more in a downtown club than I can in a midtown bar. Therefore, I can make the downtown drinks cheaper and allow for a better time which will give me more customer loyalty and satisfaction. Overall this exercise has made this venture seem much more promising.
1. Since my venture deals with a service I tried to focus on how to best utilize this service. I focused on whats next by implementing drink specials, making entrance more efficient, and increasing campus involvement.
3. In terms of growing in my existing market it is clear that I need to gain customer loyalty and support. Therefore, these interviews are extremely useful.. For instance, one future customer mentioned that I need to get promoters from multiple fraternities so that I am best able to get maximum numbers at every bar.
Also, I received advice on how to get guys out to the bar. A future client said that I should increase the amount of ladies nights and make sure that there are beer specials. Both beer and women seem to attract guys to the bars. This was incredible advice that I will take into account.
New Market
1. For the new market I looked at expansion of my service. I want to eventually control all of Gainesville's night life. Therefore, I interviewed people that enjoy going downtown to go out. Downtown is a huge market with a tremendous upside due to the amount of people it can hold.
2. The value that I am able to offer the people of downtown is a fairly simple one. I want to increase numbers at certain bars. By increasing numbers I will be able to lower drink prices. Therefore, people will be able to go out for cheaper and thus have a better time knowing that they aren't breaking their pockets.
4. What surprised me the most about this new market is the fact that people seem to want the same things as the other market. However the main difference was the fact that people wanted a cheaper transportation alternative. This market wants cheaper transportation and cheaper drinks. Most of my assumptions were correct. It seems like wherever you go people are trying to spend as little as possible. Therefore, my service will allow them to.
This new market is still extremely attractive. I can fit a lot more in a downtown club than I can in a midtown bar. Therefore, I can make the downtown drinks cheaper and allow for a better time which will give me more customer loyalty and satisfaction. Overall this exercise has made this venture seem much more promising.
Sunday, March 27, 2016
Week 11 Reading Reflection
1. The biggest surprise that I had from the reading was the discussion of how companies need to incorporate an innovation team. I am currently in a management class and so far we have mentioned innovation but we have never discussed the need for an innovation team.
2. The most confusing thing to me is crowdsourcing. I understand the concept but I can not understand the psychology that goes into t. Is it not just people doing free labor?
3. Therefore, my first question would be an explanation of the psychology behind crowdsourcing. Also I would want to know why an innovation team is necessary, considering the fact that it is harder to come up with genius ideas on a team due to the many opinions.
4. I disagree with the author about the need for an innovation team I find it unnecessary and a waste of resources. People should be innovative on their own time and the atmosphere of the company should encourage innovation.
2. The most confusing thing to me is crowdsourcing. I understand the concept but I can not understand the psychology that goes into t. Is it not just people doing free labor?
3. Therefore, my first question would be an explanation of the psychology behind crowdsourcing. Also I would want to know why an innovation team is necessary, considering the fact that it is harder to come up with genius ideas on a team due to the many opinions.
4. I disagree with the author about the need for an innovation team I find it unnecessary and a waste of resources. People should be innovative on their own time and the atmosphere of the company should encourage innovation.
Amazon Whisperer
1. The revenue drivers for my company are entrance fees and drink purchases. As I have mentioned my company is a promotional company. Therefore, I provide a service and receiver a commission.
2. The next service I want to provide is promotional opportunities in the Downtown area. After creating a customer base in Midtown, I want to expand and use customer loyalty to begin to encourage people to go out Downtown.
3. This will make my service more dynamic. It will allow for me to reach different age groups and to reach a whole new area. It would allow me to further diversify my customers.
4. As I mentioned above my product is a service. Therefore, I can not find a material product on Amazon that compares to my service. Therefore, I will follow Professor Pryor's advice and instead find a product that I can compare. I am currently in the market for a new pencil. Unlike many, I have to have a perfect pencil to write with. I am not quite sure why but it is a must.
2. The next service I want to provide is promotional opportunities in the Downtown area. After creating a customer base in Midtown, I want to expand and use customer loyalty to begin to encourage people to go out Downtown.
3. This will make my service more dynamic. It will allow for me to reach different age groups and to reach a whole new area. It would allow me to further diversify my customers.
4. As I mentioned above my product is a service. Therefore, I can not find a material product on Amazon that compares to my service. Therefore, I will follow Professor Pryor's advice and instead find a product that I can compare. I am currently in the market for a new pencil. Unlike many, I have to have a perfect pencil to write with. I am not quite sure why but it is a must.
5. The customers do not like the fact that it hurts to grip the pencil for long periods of time. They also find the eraser quite useless. However, they say it writes well and has good balance. Overall the customer reviews vote in favor of the product.
6. I would adjust the grip for this product and make it more finger friendly. Also I would add a larger eraser. One that would not be deemed useless after its second use.
7. This product would be made better because people would be able to use it for longer and therefore, they would be able to build a loyalty to the brand.
Tuesday, March 22, 2016
My Unfair Advantage
1. Resource list
1. Abundance of human capital
This is valuable and rare because we have numerous amounts of people able to wrk for us. However, it is easy to copy this. Many companies have alot of employees. These employees can not be substituted for anything else though.
2. Social capital
This is valuable and rare because we have a excellent social relationship with many of the physical components of our busness. However, another company could be as social, but this is not substitutable.
3. Bar relationships
This is valuable and rare because we have an excellent relationship with many of the bars. This is not inimitable because not many companies can say they have this type of relationship. Also this is not substitutable.
4. Knowledge of the market
This is also valuable and rare because outside companies do not now the Gainesville night life as well as we do. This is also not inimitable or substitutable because you can not copy a specific knowledge that is not given easily.
5. Organized culture
This is valuable but not rare because anyone could implement organization into their culture. Also this is inimitable and easily substitiuble for another culture.
6. A structural hierachy
This is valuable but not rare. Having structure is key but many companies do this. It is inimitable and substitutable as well.
7. Delegates
This is valuable and rare, not many companies use delegates to mae sure their product is being well received. These delegates are practically integrated spokes people for the company that are regular purchasers of the product. This is not intimitable or substitutable.
8. Solid financial capital
Financial capital is very valuable, however not rare. It is inimitable but not substitutable.
9. Emotional resources
Having a strong emotional bond wit all your partners is very valuable and rare. It is not inimitable or substitutable because it is impossible to imitate one's relationship.
10. Mentor resources
Having a mentor is valuable but not rare. Also it is not inimitable because not everyone has the same relationship with their mentor. Also it is not substitutable.
2. Market Knowledge is the most important because that is what clearly sets us apart. Being in this market for so long has allowed us to recognize specific trends that other companies do not have access to. We are able to determine profitable nights and we can properly estimate attendance. Therefore, I believe that market knowledge is the one thing that makes this venture very hard to compete with.
1. Abundance of human capital
This is valuable and rare because we have numerous amounts of people able to wrk for us. However, it is easy to copy this. Many companies have alot of employees. These employees can not be substituted for anything else though.
2. Social capital
This is valuable and rare because we have a excellent social relationship with many of the physical components of our busness. However, another company could be as social, but this is not substitutable.
3. Bar relationships
This is valuable and rare because we have an excellent relationship with many of the bars. This is not inimitable because not many companies can say they have this type of relationship. Also this is not substitutable.
4. Knowledge of the market
This is also valuable and rare because outside companies do not now the Gainesville night life as well as we do. This is also not inimitable or substitutable because you can not copy a specific knowledge that is not given easily.
5. Organized culture
This is valuable but not rare because anyone could implement organization into their culture. Also this is inimitable and easily substitiuble for another culture.
6. A structural hierachy
This is valuable but not rare. Having structure is key but many companies do this. It is inimitable and substitutable as well.
7. Delegates
This is valuable and rare, not many companies use delegates to mae sure their product is being well received. These delegates are practically integrated spokes people for the company that are regular purchasers of the product. This is not intimitable or substitutable.
8. Solid financial capital
Financial capital is very valuable, however not rare. It is inimitable but not substitutable.
9. Emotional resources
Having a strong emotional bond wit all your partners is very valuable and rare. It is not inimitable or substitutable because it is impossible to imitate one's relationship.
10. Mentor resources
Having a mentor is valuable but not rare. Also it is not inimitable because not everyone has the same relationship with their mentor. Also it is not substitutable.
2. Market Knowledge is the most important because that is what clearly sets us apart. Being in this market for so long has allowed us to recognize specific trends that other companies do not have access to. We are able to determine profitable nights and we can properly estimate attendance. Therefore, I believe that market knowledge is the one thing that makes this venture very hard to compete with.
Saturday, March 19, 2016
Week 10 Reading Reflection
1. What I read that stood out to me the most was, the subject on budgeting. Prior to the reading I assumed that managers developed budgets from actions and reactions. However it became clear that they used regressions so that they did not have to waste resources. Which makes sense.
2. For this particular section I did not find anything confusing. I am a finance major so I had a general idea for just about everything mentioned. this was extremely fascinating to me and I enjoyed it.
3. I would ask about regressions and why they are the best choice. I have always assumed that since regressions are approximations that they will not lead to perfect budgeting. Also I would ask about using competitor information to create budgets.
4. I did not disagree with the author about anything for this section. He did a great job explaining everything.
2. For this particular section I did not find anything confusing. I am a finance major so I had a general idea for just about everything mentioned. this was extremely fascinating to me and I enjoyed it.
3. I would ask about regressions and why they are the best choice. I have always assumed that since regressions are approximations that they will not lead to perfect budgeting. Also I would ask about using competitor information to create budgets.
4. I did not disagree with the author about anything for this section. He did a great job explaining everything.
Growing My Social Capital
Domain Expert
1. I talked to Blake Gordon a promotional manager in Miami. Blake runs a very prominent promotional company in Miami and does extremely well. He is considered a great promoter.
2. Blake is a domain expert because he runs his own promotional company.
3. I knew Blake from high school. Therefore, I reached out to him and he surprisingly answered. Blake is very busy and works long nights so I was amazed by his speedy response.
4. Blake and I are good friends so advice probably does not deserve a favor considering I have given him a decent amount of business in the past. However, I was extremely appreciative for the opportunity.
5. Blake will guide me and act as a mentor. By having Blake in my network I will have a tremendous advantage.
Market Expert
1. I talked to Connor Gilboy, a bartender at Cantina. Connor has been working there for three years now and is considered a valuable employee.
2. Connor is my market expert due to the fact that he works in the market.
3. Connor is in my fraternity and reaching out to him was very simple considering I had his number.
4. Connor did a huge favor for me so I definitely owe him in the future. Possibly a spot on my promotional staff.
5. Connor will help me understand the market and make it easier for me to reach my marketing goals.
Supplier
1. I talked to Brant Wickersham, the president of my fraternity.
2. Brant is the supplier since he will supply me with people that will use my product.
3. Brant is high up in my fraternity so I just asked him for a sit down.
4. Brant provided me excellent advice and therefore I owe him a spot on the roster. Brant has a good feel for the direction in which I want to go.
5. Brant will allow me to understand how to gain mass supply of people.
Reflection
This will help me massively in the future. Every key component I needed for my business was outlined by these three people. Therefore, I feel as though I have a huge competitive advantage compared to other promotional companies. I typically network by meeting company owners instead of valuable components of my company. Therefore I found this very useful.
1. I talked to Blake Gordon a promotional manager in Miami. Blake runs a very prominent promotional company in Miami and does extremely well. He is considered a great promoter.
2. Blake is a domain expert because he runs his own promotional company.
3. I knew Blake from high school. Therefore, I reached out to him and he surprisingly answered. Blake is very busy and works long nights so I was amazed by his speedy response.
4. Blake and I are good friends so advice probably does not deserve a favor considering I have given him a decent amount of business in the past. However, I was extremely appreciative for the opportunity.
5. Blake will guide me and act as a mentor. By having Blake in my network I will have a tremendous advantage.
Market Expert
1. I talked to Connor Gilboy, a bartender at Cantina. Connor has been working there for three years now and is considered a valuable employee.
2. Connor is my market expert due to the fact that he works in the market.
3. Connor is in my fraternity and reaching out to him was very simple considering I had his number.
4. Connor did a huge favor for me so I definitely owe him in the future. Possibly a spot on my promotional staff.
5. Connor will help me understand the market and make it easier for me to reach my marketing goals.
Supplier
1. I talked to Brant Wickersham, the president of my fraternity.
2. Brant is the supplier since he will supply me with people that will use my product.
3. Brant is high up in my fraternity so I just asked him for a sit down.
4. Brant provided me excellent advice and therefore I owe him a spot on the roster. Brant has a good feel for the direction in which I want to go.
5. Brant will allow me to understand how to gain mass supply of people.
Reflection
This will help me massively in the future. Every key component I needed for my business was outlined by these three people. Therefore, I feel as though I have a huge competitive advantage compared to other promotional companies. I typically network by meeting company owners instead of valuable components of my company. Therefore I found this very useful.
Tuesday, March 15, 2016
Elevator Pitch No. 3
2. The feedback that I received from my last pitch was great. It became clear to me that I was not providing enough detail on how I was going to implement my solution. Therefore, I tried to be very detailed. The feedback that surprised me was that I was not emotional enough. I tried to be a little more emotional and captivating in this one. I received no silly feedback, everything seemed accurate.
3. I tried to be more emotional and I tried to go into more detail. I hopefully accomplished those goals.
Sunday, March 13, 2016
Week 9 Reading Reflection
1. What stood out to me the most was the fact that entrepreneurs will do their own research on marketing. Before I believed that there was a marketing department that specialized in handling the marketing efforts of the specific product,
2. I was confused by the tables. He did a poor job explaining what salaries fall into each class. For instance, I have no idea what salary range makes up the upper, middle, or lower class.
3. I would ask what marketing strategy is the best for new startups and why. I would also ask about books that I would allow me to further develop marketing ideas.
4. I do not believe that there was anything the author was wrong about. I enjoyed this chapter and found it relatively useful.
2. I was confused by the tables. He did a poor job explaining what salaries fall into each class. For instance, I have no idea what salary range makes up the upper, middle, or lower class.
3. I would ask what marketing strategy is the best for new startups and why. I would also ask about books that I would allow me to further develop marketing ideas.
4. I do not believe that there was anything the author was wrong about. I enjoyed this chapter and found it relatively useful.
Tuesday, March 8, 2016
Idea Napkin No. 2
1. I am Hunter Boyett. I am a business minded guy who is a perfectionist. I am also extremely competitive and a hard worker. I am pretty creative and always up for a challenge. I consider myself to be a great leader. I will use this business to generate capital that I will later use to invest into larger ventures.
2. I am offering a better night life experience that will generate friendships, romances, and a larger network. I will use bars to let me throw themed days and drink specials that will encourage people to come be social.
3. I am offering it to college kids or adults in the Gainesville area, anyone 21 or over is welcome.
4. They care because it will make going out cheaper and will also result in a better time. Also it will allow them to network better.
5. What sets us apart is the fact that no promotional company has gone after mid town. Therefore, we would be the first in the market.
I think that all of these concepts fit together. Without having a customer base this project wouldn't work. Also without having customers want to come it will not work. Also if it is not fun for the customers it wont work. Not only that this idea needs a leader spearheading the campaign and I believe that I would be a great fit. Therefore, making sure the customer is happy is a huge part of this process. In conclusion, I think this venture could be very successful if done the way I see it.
Feedback memo: The feedback that I received was extremely similar throughout. The first point I made was to evaluate everyone's comments and see exactly what they were saying. After understanding what they were saying I moved onto the second point which was forming a plan of action. I began to think of how to address these questions. The third point I made was to address where it fit into the napkin. The fifth point was to answer their feedback. For the fifth point I changed my summary to incorporate the new feedback.
2. I am offering a better night life experience that will generate friendships, romances, and a larger network. I will use bars to let me throw themed days and drink specials that will encourage people to come be social.
3. I am offering it to college kids or adults in the Gainesville area, anyone 21 or over is welcome.
4. They care because it will make going out cheaper and will also result in a better time. Also it will allow them to network better.
5. What sets us apart is the fact that no promotional company has gone after mid town. Therefore, we would be the first in the market.
I think that all of these concepts fit together. Without having a customer base this project wouldn't work. Also without having customers want to come it will not work. Also if it is not fun for the customers it wont work. Not only that this idea needs a leader spearheading the campaign and I believe that I would be a great fit. Therefore, making sure the customer is happy is a huge part of this process. In conclusion, I think this venture could be very successful if done the way I see it.
Feedback memo: The feedback that I received was extremely similar throughout. The first point I made was to evaluate everyone's comments and see exactly what they were saying. After understanding what they were saying I moved onto the second point which was forming a plan of action. I began to think of how to address these questions. The third point I made was to address where it fit into the napkin. The fifth point was to answer their feedback. For the fifth point I changed my summary to incorporate the new feedback.
Tuesday, February 23, 2016
Week 8 Reading Reflection
1. One of the things that was a notable surprise for me was how important risk capital was to new venture capital. It makes total sense for me why it would be so appealing this is something that I want to pursue in the future so I enjoyed reading about it.
2. Nothing from this chapter was confusing to me. The author did a great job of explaining his ideas simplistically.
3. The first question I would ask is if venture capital is a fun field to be in. I am very interested in that for my future. Also I would ask for him to go into depth about the risk capital financing. It is something that intrigues me greatly.
4. There is not anything I disagreed about. I enjoyed reading this section.
2. Nothing from this chapter was confusing to me. The author did a great job of explaining his ideas simplistically.
3. The first question I would ask is if venture capital is a fun field to be in. I am very interested in that for my future. Also I would ask for him to go into depth about the risk capital financing. It is something that intrigues me greatly.
4. There is not anything I disagreed about. I enjoyed reading this section.
Monday, February 22, 2016
The Twenty Percent
1. He believed his target customers were the people of the community. They are a family owned deli so he started it in a community and the community responded quite well. They do not use media all they provide is a friendly family like feel. The problem the customer faces is not having enough room on sundays they feel packed. The customers uses this service to eat. The problem is a ten since food is quite important. Yes their customers allocate funds for food.
2. The target customers both responded the same way. They said that they go their to eat in a community environment. They appreciated the family feel and great food. The manager was exactly correct in finding their customer.
3. The manager seems to understand that everyone has a need to eat. HE also understands that many customers want to eat at a place they feel welcome. Therefore, he likes to greet the regular customers and try to learn everyones names.
The manager and interviewees did not want the camera.
2. The target customers both responded the same way. They said that they go their to eat in a community environment. They appreciated the family feel and great food. The manager was exactly correct in finding their customer.
3. The manager seems to understand that everyone has a need to eat. HE also understands that many customers want to eat at a place they feel welcome. Therefore, he likes to greet the regular customers and try to learn everyones names.
The manager and interviewees did not want the camera.
Half-way Reflection
1. To keep up with the course I created a schedule. Since there are a lot of assignments keep organized is a major key. You have to stay on top of everything. Also I try to do the assignments on a weekly basis. Also, watch lecture and try to stay on top of the book readings. If you follow the syllabus you will be fine.
2. Sundays are typically hard. There are multiple assignments and if you do not manage your time it may be hectic so that is probably the day in which I feel like not doing work the most. However, I remember that it is important to stay on top of everything and that grades are important and I am able to pull through. I have a tenacious attitude due to the fact that I have a future map. I know where I want to go and know how to do it.
3. Three tips would be create a schedule, read the book, and know the syllabus like the back of your hand. The other three tips would be to make a life plan, understand that you control your destiny, and try to understand how important your grades are.
2. Sundays are typically hard. There are multiple assignments and if you do not manage your time it may be hectic so that is probably the day in which I feel like not doing work the most. However, I remember that it is important to stay on top of everything and that grades are important and I am able to pull through. I have a tenacious attitude due to the fact that I have a future map. I know where I want to go and know how to do it.
3. Three tips would be create a schedule, read the book, and know the syllabus like the back of your hand. The other three tips would be to make a life plan, understand that you control your destiny, and try to understand how important your grades are.
Sunday, February 21, 2016
Week 7 Reading Reflection
Market segmentation was the biggest surprise I had. We think we know how to advertise based off of shows like Mad Men. However there is a ton of science that goes into knowing how to best sell a product to a specific group.
One thing that confused me is the fact that market segmentation is not that effective. Why would any company use market segmentation if it is not effective, that is not rational.
I would ask why companies still use market segmentation. Also, I would ask how market segmentation will handle the shift to internet ordering. It seems like they will have to switch their strategy.
I agree with the author.
One thing that confused me is the fact that market segmentation is not that effective. Why would any company use market segmentation if it is not effective, that is not rational.
I would ask why companies still use market segmentation. Also, I would ask how market segmentation will handle the shift to internet ordering. It seems like they will have to switch their strategy.
I agree with the author.
Free Money
Strategy and results:
1. Walk around my neighborhood and see who will stop what they are doing for a dollar.
2. I will approach anyone so that I avoid stereotyping.
3. Im going to get their attention and then ask them if they want the dollar.
4. My plan is to have small talk and get the dollar out fast. The longer you have a strangers attention for the less you have their attention.
5. I think all 5.
I enjoyed this exercise it was fun. However I don't think we should have filmed them that was weird. Giving away the dollar was very easy. My estimates were correct I was 5/5.
1. Walk around my neighborhood and see who will stop what they are doing for a dollar.
2. I will approach anyone so that I avoid stereotyping.
3. Im going to get their attention and then ask them if they want the dollar.
4. My plan is to have small talk and get the dollar out fast. The longer you have a strangers attention for the less you have their attention.
5. I think all 5.
I enjoyed this exercise it was fun. However I don't think we should have filmed them that was weird. Giving away the dollar was very easy. My estimates were correct I was 5/5.
Monday, February 15, 2016
Elevator Pitch No. 2
2. I received great feedback from my last post. Everyone was very encouraging and responsible. I am actually going to tie in a point system that was suggested in the comments. I am very happy with the results I received. I also was told I was kind of bland so I tried to make the video better.
3. Based off of the responses I tried to be more friendly and personable, and now I am going to tie in a comment left by a fellow classmate.
Thursday, February 11, 2016
Idea Napkin No. 1
1. I am Hunter Boyett. I am a business minded guy who is a perfectionist. I am also extremely competitive and a hard worker. I will use this business to generate capital that I will later use to invest into larger ventures.
2. I am offering a better night life experience that will generate friendships, romances, and a larger network.
3. I am offering it to college kids or adults in the gainesville area, anyone 21 or over is welcome.
4. They care because it will make going out cheaper and will also result in a better time.
5. What sets us apart is the fact that no promotional company has gone after mid town. Therefore, we would be the first in the market.
I think that all of these concepts fit together. Without having a customer base this project wouldn't work. Also without having customers want to come it will not work. Also if it is not fun for the customers it wont work. Therefore, making sure the customer is happy is a huge part of this process.
In conclusion, I think this venture could be very successful if done the way I see it.
2. I am offering a better night life experience that will generate friendships, romances, and a larger network.
3. I am offering it to college kids or adults in the gainesville area, anyone 21 or over is welcome.
4. They care because it will make going out cheaper and will also result in a better time.
5. What sets us apart is the fact that no promotional company has gone after mid town. Therefore, we would be the first in the market.
I think that all of these concepts fit together. Without having a customer base this project wouldn't work. Also without having customers want to come it will not work. Also if it is not fun for the customers it wont work. Therefore, making sure the customer is happy is a huge part of this process.
In conclusion, I think this venture could be very successful if done the way I see it.
Sunday, February 7, 2016
Interviewing Customers No. 2
1. I think this is a massive opportunity. It seems as though everyone I ask loves the idea, and asks me questions about it after. Interviewing people has definitely made me more inspired.
2. I followed the same approach as last time where I only approached people who were familiar with Gainesville night life. This approach seems to be working well.
3. I asked why it was their favorite night and then incorporated that answer into my next question which was "If there was a promotional company that made every night like your favorite night would that be something that intrigued you".
4. Videos posted below
5. I think that there are more ideas to add to my company. I see that people enjoy having a lot of people out, drink specials, and more lady's nights.
6. Im becoming more relaxed when I interview which seems as though it helps the interviewee answer more genuinely.
1. Be relaxed
2. Engage in small talk prior
3. Try to make them laugh so that they feel comfortable
2. I followed the same approach as last time where I only approached people who were familiar with Gainesville night life. This approach seems to be working well.
3. I asked why it was their favorite night and then incorporated that answer into my next question which was "If there was a promotional company that made every night like your favorite night would that be something that intrigued you".
4. Videos posted below
5. I think that there are more ideas to add to my company. I see that people enjoy having a lot of people out, drink specials, and more lady's nights.
6. Im becoming more relaxed when I interview which seems as though it helps the interviewee answer more genuinely.
1. Be relaxed
2. Engage in small talk prior
3. Try to make them laugh so that they feel comfortable
Week 5 Reading Reflection
1. The biggest surprise that I had in the reading was the idea and process behind a patent. I had no idea they took so long to get. That makes it so much harder for entrepreneurs to wait around. That has to be extremely demotivating for a entrepreneur.
2. I was confused by the idea behind entrepreneurs being part of a social group. I think that is a huge stretch. Although they do share a common attribute I think its a stretch to assume they're in a social group.
3. A question that I have for the author is "what are some ways to remain motivated while waiting on a patent" and "Is it better to be a social entrepreneur or an economical entrepreneur." Id ask these questions because I feel like waiting on a patent is extremely demotivating,and I would like to know what mindset to have to be the best entrepreneur I could be.
4. I think the author was wrong about entrepreneurs being in a social group. There is no way that they are in a social group strictly because they are entrepreneurs. That is equivalent to saying that I am friends with every business major, which is not the case.
2. I was confused by the idea behind entrepreneurs being part of a social group. I think that is a huge stretch. Although they do share a common attribute I think its a stretch to assume they're in a social group.
3. A question that I have for the author is "what are some ways to remain motivated while waiting on a patent" and "Is it better to be a social entrepreneur or an economical entrepreneur." Id ask these questions because I feel like waiting on a patent is extremely demotivating,and I would like to know what mindset to have to be the best entrepreneur I could be.
4. I think the author was wrong about entrepreneurs being in a social group. There is no way that they are in a social group strictly because they are entrepreneurs. That is equivalent to saying that I am friends with every business major, which is not the case.
Wednesday, February 3, 2016
Elevator Pitch No. 1
2) The opportunity that I recognized was a social one. I noticed that many people went to mid town only on Wednesdays and Fridays due to drink specials. That being said, I wanted to encourage people to go out more often. Therefore, I came up with the solution to create a promotional company that encouraged people to go out more often through the use of drinks specials and event planning. The name of my business is University Entertainment.
Sunday, January 31, 2016
Week 4 Reading Reflection
1. One thing I was surprised by about this chapter was opportunity identification. Prior to reading I had no idea how to identify a business opportunity. However, it is quite simple. You look for a need then expand on what surrounds that need. However there are also idea killers. Although some people may view these as looking out, there is also chance that you are ruining a future entrepreneur.
2. The thing I found confusing about this chapter was the idea behind innovation. It is clear that innovation is the push for future benefit. However when the author went into depth about it he made it seem far more confusing than it really is. Being innovative could simply be looked at as trying to continually evolve so that you stay afloat.
3. The first question I would ask is how should I try to know when idea killers are false, also I would ask about learning how to format data to see opportunities.
4. From this chapter I don't believe that there was anything that the author was wrong about.
2. The thing I found confusing about this chapter was the idea behind innovation. It is clear that innovation is the push for future benefit. However when the author went into depth about it he made it seem far more confusing than it really is. Being innovative could simply be looked at as trying to continually evolve so that you stay afloat.
3. The first question I would ask is how should I try to know when idea killers are false, also I would ask about learning how to format data to see opportunities.
4. From this chapter I don't believe that there was anything that the author was wrong about.
Customer Interviews No. 1
1. Opportunity: Gainesville nightlife is becoming boring lately, what could make it better? Therefore, my opportunity is to open up a promotion company in Gainesville.
2. The people with the unmet need are college kids who enjoy going out. Therefore prior to interviewing these people I will as them if they go out.
3. Questions:
1. Do you enjoy going out to midtown?
2. What is your favorite day to go out?
3. Why is it your favorite day?
4. Would you go out more often if everyday was like that?
5. Would you support a promotional company that made every night that good?
4. Videos are below
5. This opportunity taught me that the best way to know what people want is by asking them. Now that I received the feedback from the customers I think starting this company would be a great idea.
6. I enjoyed interviewing all the customers. I was not really nervous throughout it, however I did appreciate hearing all of their opinions. I enjoyed hearing their input and I look forward to using most of their advice.
2. The people with the unmet need are college kids who enjoy going out. Therefore prior to interviewing these people I will as them if they go out.
3. Questions:
1. Do you enjoy going out to midtown?
2. What is your favorite day to go out?
3. Why is it your favorite day?
4. Would you go out more often if everyday was like that?
5. Would you support a promotional company that made every night that good?
4. Videos are below
5. This opportunity taught me that the best way to know what people want is by asking them. Now that I received the feedback from the customers I think starting this company would be a great idea.
6. I enjoyed interviewing all the customers. I was not really nervous throughout it, however I did appreciate hearing all of their opinions. I enjoyed hearing their input and I look forward to using most of their advice.
Wednesday, January 27, 2016
Top 5 World Problems
1. Water reductions
Water is a finite resource and since the world population is
continually increasing the amount of water is falling with it. Therefore,
sooner or later there may not be water to use.
Solution Rank=1: A solution to this would be cutting back
on agriculture and restricting water use across the globe by implementing
strict water laws.
2. Global Warming
The world continues to get warmer. Due to the fact that
industry is pumping and population continues to increase, carbon emissions will
continue to rise.
Solution Rank=3: A solution to this would be to make the
emission rules stricter. By dong so we could slow down emissions and try
to rebuild our o-zone.
3. World Population
increase
The World Population continues to grow at a exponential rate.
This growth rate is making people think that the world may not be able to
support this growth.
Solution Rank=2: A solution to this would be limiting the
number of children people are able to have and increasing planned parenthood
organizations in specific areas.
4. Poverty
Some of the world right now is in poverty. These poor places
like Africa have high numbers of offspring and therefore, the poor population
continues to grow. That being said, these children do not have the
resources to survive and thrive and the cycle continues.
Solution Rank=5: A solution to this would be encouraging
countries to grow by providing a structure that enables to them. Also the
promotion of education is necessary for growth.
5. Religious Warfare
As terrorist groups form, many people have begun to look at
religion in a different light. Anti-Semites and radicals alike are
spreading hate for specific religions. Due to this hate, there have been
many deaths and attacks.
Solution Rank=4: A solution to this would be to strengthen
military and try to severely punish anti-Semites.
For rank ordering the problems above I had to choose
which were the most severe. I placed
Water Reductions as number one because if we do not have water there is no
life. Although they are coming out with
ways to turn salt water into drinking water those ways are extremely
expensive. I selected Global Warming as
number two because if our world continues to warm we will be subject to extreme
weather, this will result in deaths that we cannot control. I chose World Population Increase as number 3
because if the world’s population continues to grow, water reserves will run
out faster and global warming will speed up.
I placed Poverty as number 4 because if the majority of the world lives
in poverty it hurts the advancement of the world as a whole. I then placed Religious Warfare at number
five because people are being killed daily for declaring a specific religion,
which causes many to live in fear.
For
rank ordering the solutions I chose which solutions I believed to be the
easiest to implement. I though my
solution for Water Reductions was number one because passing a law could solve
that. Although it is hard to pass a law
it is still easier to do and monitor than the other solutions. I chose the solution to the World’s Population
increase next. I chose this because it
is also a law however this law would be harder to follow than water
restrictions due to the fact that many pregnancies are unplanned. As I stated above laws may be hard to pass
but it is still easier than the other solutions. Next I chose the solution for Global Warming. Passing laws on emissions once again solves
this, however it is hard to monitor emissions.
Then I chose the solution for Religious Warfare. Creating a military is very hard it takes up
a lot of money in taxes, that is why it is ranked number four. However, it is easier than my solution to Poverty. This was the last one because it seems like
the hardest one to implement. It would
be very difficult to create schools in these poverty stricken areas. There are so many areas that it would cost a
ton of money. Therefore, this solution is number 5.
Sunday, January 24, 2016
Week 3 Reading Reflection
1. The biggest surprise that I had about the reading was the discussion about an entrepreneur's motivation. I always try to motivate myself whenever I set my sights on a goal so that I am as determined as possible to reach it. Therefore, I enjoyed reading about this.
2. What I found confusing about the reading was the fact that the author had a section on the entrepreneur trusting their coworkers and then a section on the entrepreneur having a feeling of distrust toward their coworker. So is it wise to always have a feeling of distrust to make sure you are not getting pushed over?
3. If I could ask the author two questions one would be, what is their best way to have a continued motivation? Also I would ask them how to avoid distractions when relating those distractions to my entrepreneurial mindset.
4. This week I didn't think there was anything wrong about what the author said.
2. What I found confusing about the reading was the fact that the author had a section on the entrepreneur trusting their coworkers and then a section on the entrepreneur having a feeling of distrust toward their coworker. So is it wise to always have a feeling of distrust to make sure you are not getting pushed over?
3. If I could ask the author two questions one would be, what is their best way to have a continued motivation? Also I would ask them how to avoid distractions when relating those distractions to my entrepreneurial mindset.
4. This week I didn't think there was anything wrong about what the author said.
Identifying Local Oppurtunities
1. 15-year-old girl accused of bomb threats at Keys schools
http://infoweb.newsbank.com/resources/doc/nb/news/15A9384073104FB8?p=AWNB
This article was about a girl that continued to make bomb threats to multiple high schools. She made multiple threats resulting in fear and anxiety. She was later arrested and is awaiting trial.
The problem presented in this story is that the police doesn't have the proper tools to locate the person making the threats fast enough. Therefore, people are forced to wait in fear and anxiety.
The people have the problem because of the fact that they have to deal with this psychotic person.
2. Police: Kendall man showed off ISIS execution videos, vowed to dress as the Joker and kill boss
http://infoweb.newsbank.com/resources/doc/nb/news/15A93838B537EE90?p=AWNB
This article talks about a worker who said that he was going to murder his coworkers after he pledged allegiance to Allah. Apparently he was posting pictures of him dressed like a clown carrying large knives on social media.
The problem presented in this story is a problem of radical terrorists. As the war on terror continues to grow. Terrorists are beginning to grow in our own nation.
The problem belongs to the people because they are the ones that the terrorists will attack.
3.Homestead man arrested in MLK Day shooting of 14-year-old boy
http://infoweb.newsbank.com/resources/doc/nb/news/15A93833597C0C40?p=AWNB
This article discussed the fact that a 14 year old boy was shot and killed at a MLK Day event.
The problem mentioned in this article is a problem relating to gun control. If guns were not in play there is a large chance that that 14 year old boy would be alive today.
The problem is once again that of the people's.
4. Broward Health CEO and president El Sanadi dies from self-inflicted wound
http://infoweb.newsbank.com/resources/doc/nb/news/15A9383CD33177A8?p=AWNB
The CEO of Broward Health shot and killed himself after fighting an investigation that mentioned the fact that Broward Health colluded with doctors that were committing medicare fraud.
The problem mentioned in this article is the suicide of a great doctor. Although he might hve done something illegal he shouldnt have taken his own life.
The problem is now on his family's hands who have to deal with his death.
5. Cops from six agencies shoot, kill 14 in Miami-Dade last year
http://infoweb.newsbank.com/resources/doc/nb/news/15A88F87546FBC38?p=AWNB
The article discussed the 23 shootings that occurred in Miami-Dade county. 14 of those shootings ended in death.
The problem mentioned in this article is police brutality. Many people believe that in some of these cases the police didn't ned to use their weapon and instead they could have used alternate measures.
The problem here is on the civilians because now they have to watch out for the police and make sure they are not the next to be brutalized.
http://infoweb.newsbank.com/resources/doc/nb/news/15A9384073104FB8?p=AWNB
This article was about a girl that continued to make bomb threats to multiple high schools. She made multiple threats resulting in fear and anxiety. She was later arrested and is awaiting trial.
The problem presented in this story is that the police doesn't have the proper tools to locate the person making the threats fast enough. Therefore, people are forced to wait in fear and anxiety.
The people have the problem because of the fact that they have to deal with this psychotic person.
2. Police: Kendall man showed off ISIS execution videos, vowed to dress as the Joker and kill boss
http://infoweb.newsbank.com/resources/doc/nb/news/15A93838B537EE90?p=AWNB
This article talks about a worker who said that he was going to murder his coworkers after he pledged allegiance to Allah. Apparently he was posting pictures of him dressed like a clown carrying large knives on social media.
The problem presented in this story is a problem of radical terrorists. As the war on terror continues to grow. Terrorists are beginning to grow in our own nation.
The problem belongs to the people because they are the ones that the terrorists will attack.
3.Homestead man arrested in MLK Day shooting of 14-year-old boy
http://infoweb.newsbank.com/resources/doc/nb/news/15A93833597C0C40?p=AWNB
This article discussed the fact that a 14 year old boy was shot and killed at a MLK Day event.
The problem mentioned in this article is a problem relating to gun control. If guns were not in play there is a large chance that that 14 year old boy would be alive today.
The problem is once again that of the people's.
4. Broward Health CEO and president El Sanadi dies from self-inflicted wound
http://infoweb.newsbank.com/resources/doc/nb/news/15A9383CD33177A8?p=AWNB
The CEO of Broward Health shot and killed himself after fighting an investigation that mentioned the fact that Broward Health colluded with doctors that were committing medicare fraud.
The problem mentioned in this article is the suicide of a great doctor. Although he might hve done something illegal he shouldnt have taken his own life.
The problem is now on his family's hands who have to deal with his death.
5. Cops from six agencies shoot, kill 14 in Miami-Dade last year
http://infoweb.newsbank.com/resources/doc/nb/news/15A88F87546FBC38?p=AWNB
The article discussed the 23 shootings that occurred in Miami-Dade county. 14 of those shootings ended in death.
The problem mentioned in this article is police brutality. Many people believe that in some of these cases the police didn't ned to use their weapon and instead they could have used alternate measures.
The problem here is on the civilians because now they have to watch out for the police and make sure they are not the next to be brutalized.
Wednesday, January 20, 2016
World's Biggest Problems
1. Racial divides
Many people are still extremely racist. That being said it is hard to unify people when one group hates another.
I believe a solution to this would be the continual preaching of unity and teaching children to love everyone.
2. Water reductions
Water is a finite resource and since the world population is continually increasing the amount of water is falling with it. Therefore, sooner or later there may not be water to use.
A solution to this would be cutting back on agriculture and restricting water use across the globe by implementing strict water laws.
3. Global Warming
The world continues to get warmer. Due to the fact that industry is pumping and population continues to increase, carbon emissions will continue to rise.
A solution to this would be to make the emission rules more strict. By dong so we could slow down emissions and try to rebuild our o-zone.
4. Extinction
Many of the animals we once had are gone. Beautiful species are getting wiped out left and right. If this continues the only animals we will have will be domesticated ones.
A solution would be restricting hunting and making poaching penalties more severe.
5. World Population increase
The World Population continues to grow at a exponential rate. This growth rate is making people think that the world may not be able to support this growth.
A solution to this would be limiting the number of children people are able to have and increasing planned parenthood organizations in specific areas.
6. Terrorism
As terrorism continues to grow globally it is apparent that people are more on edge. Terrorism also causes unnecessary civilian deaths.
A solution to this is having an aggressive military approach against terrorism and trying to eliminate these groups before they grow.
7. Poverty
Some of the world right now is in poverty. These poor places like Africa have high numbers of offspring and therefore, the poor population continues to grow. That being said, these children do not have the resources to survive and thrive and the cycle continues.
A solution to this would be encouraging countries to grow by providing a structure that enables to them. Also the promotion of education is necessary for growth.
8. Unemployment
Unemployment is increasing for young individuals across the globe. That being said, these young individuals will have a hard time getting upper level positions later in life and will be forced to remain in the lower class.
A solution to this would be to spur the economy and allow for business growth so that there are more jobs in the market.
9. Threat of Cyber Warfare
As the internet grows more vital in daily life it is clear that cyber warfare could threaten billions of individuals. Due to increased threats of cyber attacks, people have began to become scared of sharing things on the web.
A solution to this would be to invest more money into cyber security to prevent an attack.
10. Religious Warfare
As terrorist groups form, many people have begun to look at religion in a different light. Anti-Semites and radicals alike are spreading hate for specific religions. Due to this hate, there has been many deaths and attacks.
A solution to this would be to strengthen military and try to severely punish anti-Semites.
Many people are still extremely racist. That being said it is hard to unify people when one group hates another.
I believe a solution to this would be the continual preaching of unity and teaching children to love everyone.
2. Water reductions
Water is a finite resource and since the world population is continually increasing the amount of water is falling with it. Therefore, sooner or later there may not be water to use.
A solution to this would be cutting back on agriculture and restricting water use across the globe by implementing strict water laws.
3. Global Warming
The world continues to get warmer. Due to the fact that industry is pumping and population continues to increase, carbon emissions will continue to rise.
A solution to this would be to make the emission rules more strict. By dong so we could slow down emissions and try to rebuild our o-zone.
4. Extinction
Many of the animals we once had are gone. Beautiful species are getting wiped out left and right. If this continues the only animals we will have will be domesticated ones.
A solution would be restricting hunting and making poaching penalties more severe.
5. World Population increase
The World Population continues to grow at a exponential rate. This growth rate is making people think that the world may not be able to support this growth.
A solution to this would be limiting the number of children people are able to have and increasing planned parenthood organizations in specific areas.
6. Terrorism
As terrorism continues to grow globally it is apparent that people are more on edge. Terrorism also causes unnecessary civilian deaths.
A solution to this is having an aggressive military approach against terrorism and trying to eliminate these groups before they grow.
7. Poverty
Some of the world right now is in poverty. These poor places like Africa have high numbers of offspring and therefore, the poor population continues to grow. That being said, these children do not have the resources to survive and thrive and the cycle continues.
A solution to this would be encouraging countries to grow by providing a structure that enables to them. Also the promotion of education is necessary for growth.
8. Unemployment
Unemployment is increasing for young individuals across the globe. That being said, these young individuals will have a hard time getting upper level positions later in life and will be forced to remain in the lower class.
A solution to this would be to spur the economy and allow for business growth so that there are more jobs in the market.
9. Threat of Cyber Warfare
As the internet grows more vital in daily life it is clear that cyber warfare could threaten billions of individuals. Due to increased threats of cyber attacks, people have began to become scared of sharing things on the web.
A solution to this would be to invest more money into cyber security to prevent an attack.
10. Religious Warfare
As terrorist groups form, many people have begun to look at religion in a different light. Anti-Semites and radicals alike are spreading hate for specific religions. Due to this hate, there has been many deaths and attacks.
A solution to this would be to strengthen military and try to severely punish anti-Semites.
Sunday, January 17, 2016
Week 2 Reading Reflection
The main things that stuck out to me were the myths. The one myth that hit the core was the myth about entrepreneurs and money. The myth said that many people believe that all entrepreneurs need is money. However, the book discussed the fact that money is necessary but it doesn't make or break the idea itself. That being said, I have always believe that capital was vital for ventures.
The thing that confused me the most was how entrepreneurs receive capital. I found it hard to understand but i figured that they will touch more upon this in future chapters.
I would ask him if he has had success as an entrepreneur because i would assume he has if he could write a book on it. Also, I would ask him for more examples on entrepreneurial situations.
I agreed with most of the things the author said. However, i believe that entrepreneurs are more doers than thinkers. I believe that doing is key to creating a business. A thought is only a thought if you don't make something of it.
The thing that confused me the most was how entrepreneurs receive capital. I found it hard to understand but i figured that they will touch more upon this in future chapters.
I would ask him if he has had success as an entrepreneur because i would assume he has if he could write a book on it. Also, I would ask him for more examples on entrepreneurial situations.
I agreed with most of the things the author said. However, i believe that entrepreneurs are more doers than thinkers. I believe that doing is key to creating a business. A thought is only a thought if you don't make something of it.
Bug List
1. People who chew with their mouth open.
I feel like its disrespectful, it is also annoying.
2. People who talk to loud
I don't like trying to speak over someone, it is uncomfortable
3. When it is too hot outside
No one likes to be overheated
4. When people can't make eye contact
It makes me uncomfortable
5. When people over think things
I do not like drama
6. When people do not laugh at my jokes
Im hilarious so i expect people to laugh
7. When my LARP team shows up late
It disrespectful to misuse someones time
8. When people complain
Whining is annoying and ruins a good time
9. When my roommate adjusts the AC
I like it cold so it is annoying when it is hot
10. When people fight
Fighting is uncomfortable for those around
11. When someone eats my food
It is my food not yours do not eat my stuff
12. When people copy my sayings
Copy cats are annoying
13. When someone ignores me
How hard is it to answer a question
14. When people wake me up
Don't wake me up if theres no need to
15. When someone takes forever to answer my email
I answer my email daily so I think a week is excessive
16. When your card gets declined
It is embarrassing
17. When you air ball in recreational basketball
You look terrible
18. When you skip working out then feel terrible
It throws you out of rhythm
19. When you forget about homework.
It is never fun to forget an assignment
20. When you lock yourself out of the car
It is a pain to get a locksmith o open your car again
reflection
I found this assignment decently challenging. Since I don't complain much it took a while for me to come up with things. However most of the things on my list I can change so I am not to upset.
I feel like its disrespectful, it is also annoying.
2. People who talk to loud
I don't like trying to speak over someone, it is uncomfortable
3. When it is too hot outside
No one likes to be overheated
4. When people can't make eye contact
It makes me uncomfortable
5. When people over think things
I do not like drama
6. When people do not laugh at my jokes
Im hilarious so i expect people to laugh
7. When my LARP team shows up late
It disrespectful to misuse someones time
8. When people complain
Whining is annoying and ruins a good time
9. When my roommate adjusts the AC
I like it cold so it is annoying when it is hot
10. When people fight
Fighting is uncomfortable for those around
11. When someone eats my food
It is my food not yours do not eat my stuff
12. When people copy my sayings
Copy cats are annoying
13. When someone ignores me
How hard is it to answer a question
14. When people wake me up
Don't wake me up if theres no need to
15. When someone takes forever to answer my email
I answer my email daily so I think a week is excessive
16. When your card gets declined
It is embarrassing
17. When you air ball in recreational basketball
You look terrible
18. When you skip working out then feel terrible
It throws you out of rhythm
19. When you forget about homework.
It is never fun to forget an assignment
20. When you lock yourself out of the car
It is a pain to get a locksmith o open your car again
reflection
I found this assignment decently challenging. Since I don't complain much it took a while for me to come up with things. However most of the things on my list I can change so I am not to upset.
Wednesday, January 13, 2016
My Entrepreneurship Story
I was introduced to entrepreneurship this summer when I started my own LLC. I was hanging out with a couple of friends and we began to talk about the stock market. This one conversation gave us the idea to start our own trading company. Therefore, we created the LLC and began to trade our own portfolio. It was a great experience and I learned a lot doing it.
The reason that I enrolled in this class is because I wanted to learn more about what it takes to start your own company. I wanted to learn about the thought process that is involved when one creates something of their own. I also joined this class to inspire my inner creator.
The reason that I enrolled in this class is because I wanted to learn more about what it takes to start your own company. I wanted to learn about the thought process that is involved when one creates something of their own. I also joined this class to inspire my inner creator.
Introduction
Hey everyone, I am Hunter Boyett a sophomore finance major from Miami, Florida. I have two brothers and one sister. Growing up in a large family was awesome, there was always something to do and always someone to talk to. Growing up I developed a passion for the stock market. Therefore, I hope to one day own my own hedge-fund. I enjoy traveling, reading, and going on long hikes.
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