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.
Tuesday, February 23, 2016
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.
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