28A: Exit Strategy 1.) The exit strategy, as of now is to sell it. As far as at a certain time, I can not determine right now. Starting this business is an implementation towards my 10 year goal. If i worked at this and expanded into different college markets and create a huge market, I would want to sell it and invest the money I made. This is because I have other plans for after my 30's which doesn't entail furthering this business. 2.) I selected this strategy because personally I want to walk different paths in life. If you keep growing and growing a business, it becomes a very stressful and time consuming life. That is why I plan to create something big, expand it if it is successful and sell it at its peak. This will allow me to walk a different path in life like such as traveling, being more involved in my kids lives, and whatever it may be. 3.) I think the business I created has a lot of opportunity. There are thousands of congested areas that coul...
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27A: Reading Reflection No. 3 The book I chose to read for the third assignment was a part of the second list and it is: How to Fail at Almost Everything and Still Win Big, Scott Adams 1.) The big picture of the book is pretty self-explanatory for the title. Also, it reflects on what we just wrote about in the assignment right before this. I found it neat how I read the book right before doing the assignment on failure. The book illustrated that the more you fail the more you learn and that even the most successful entrepreneurs have surpassed the numerous failures to get to where they are and win big. 2.) After reading the book I was thoroughly able to answer the reflection (part 3) part of assignment 26A. I was able to have a fresh concept of the idea of failure and how some key personal attributes like patience and persistence can mitigate the ideal of failure. 3.) The assignment I would create would to be to think about one of their weaknesses. To write an a...
26A: Celebrating Failure 1.) The first thing that comes to mind about failing for this semester is the first week in this class. It's obvious to everyone in this class that the setup in this class is different. Between the blog and the declaring, it took us a couple of times to reread the syllabus to get a grasp on what exactly to do. The first week I forgot to declare one of the three assignments and didn't get credit for it. This was a failure because I was moving along too quickly and didn't take my time each step of the way for the first week and do everything properly. 2.) From there on out I doubled and triple checked each assignment and made sure to follow step A, B and C correctly. 3.) I think failure is definitely something that is spoken about heavily, and with that being said I think it is important to plan for and work with. Dealing with failure encourages the self attribute of dedication, patience, and emotional stability. I think the biggest par...
25A: Whats Next Existing Market: In the existing market the next step could be adding a driving service. If our name gets out there we could be trusted to be a great company and could be used for driving as well. We could compete with Uber by charging cheaper prices. After interviewing my three friends that go to UF they all agreed that expanding into the driving market might not be the best idea. They mentioned Uber is too big to try to compete with and charging cheaper prices would be like suicide to the company. What makes sense to me is to keep with the peer to peer parking. This service is unique and cant really be expanded into another service or product. UF is very straight forward with the need and I think focussing specifically on the need is important. While focusing on the need I will be able to expand as much as I can within Gainesville. Making Gainesville my home base, I will have a good backbone moving forward. With a domi...
23A: Your Venture's Unfair Advantage 1.) App Development Team: The team from Sarasota is ranked best in the area. I found them through a church friend which is why we have friendly relations and work well together. The app design will be unique and special for the customers to use it easily. 2.) Peer-to-Peer Parking: Peer-to-peer parking has shown its dominance through driving and housing markets but not parking. This concept is rare and is about to be taken full advantage of. 3.) Motivation: I am fresh out of college ready to start my career. I am anxious to put everything I have to start my career out right. People who are older may be a little burnt out or not solely motivated like I am. 4.) Business Itself: The business is funding itself. Meaning I will put down no money for the app and as the app grows the revenue pays off the expenses to the app developers. This provides an essential advantage because the start up cost itself is zip none nada. ...
21A: Reading Reflection No.2 The book I read for this reflection is "Thinking fast and Slow" by Daniel Kahneman 1.) The theme of this book was the power of thinking. It is the cognitive aspect of effective leaders and how they should stay patient but be micro aggressive as well. The book emphasized the importance of not only realizing the benefits of both thought processes, but as well as the balance between the two. 2.) This book was great to encourage my thoughts towards school and the beginning leg of my career. This class, at the end of the day, it is training your brain to think long term results of the business which is what is discussed in the slow thinking parts in the book. 3.) The book focuses on macro patience and micro aggressiveness. In other words things that happen on a regular basis and are the core activities you perform in a day require you to think fast, but looking at long term goals requires patience and dedication. You can apply this ...
22B: Elevator Pitch No. 3 All three comments were nice and encouraging. They told me I showed great emotion on my second video compared to first and that the content was easy to follow and showed I was knowledgable about the subject. I think all the comments were encouraging and definitely were truthful. No one mentioned what I could work on so I tried making the same caliber of a pitch. People mentioned that they would at least look up the app because I caused an interesting product/service. I keep everything the same because the feedback were all positive. However, I did try to work on the criticism given to me on the first pitch. The things I kept in mind were the distance of my camera (so you can see my hand gestures) and my enthusiasm. It was important me to keep up the simple but knowledgable delivery of the pitch so people will follow along all the way through the pitch and know exactly what the basics of the business are.
20A: Growing Your Social Capital I. Joe A) Joe is my uncle and was a manager of a transit bus company in New Jersey. He drives around New Jersey and understands the struggles of dealing with parking in a crowded city. B) Joe is the Domain Expert because he has knowledge and experience of the ins and outs of transportation and vehicle services provided within a crowded city. C) Joe is my uncle so I have had his contact information. D) Joe mentored me in the pay-to-park services and how I could improve them. Joe's return expectation of me is to know how to talk to the services and include him as a partner when I start my business. E) Joe is a very valuable resource, he possesses a lot of knowledge about this field and would be a great partner to have when creating my business. II. Brad A) Brad is a local restaurant owner in Gainesville. His target market is college students, which will be my primary market as well. B) Brad...
17A: Elevator pitch No. 2 I found out that the length was great in my pitch and also that I emphasized in depth knowledge about the subject. When reviewing my comments someone said I showed great emotion. When I reviewed the video myself I thought I didn't show enough emotion and it was something I needed to work on. I think the commenter was just being nice but I think that point wasn't accurate. I took inconsideration the distance of my camera so you could see my motions more precisely. I changed the position of the camera and tried to be more enthusiastic. I put the camera further back so you could see my hand motions better as mentioned in one of the comments. I tried being more enthusiastic because I think personally thats what I need to work on.
19A: Idea Napkin No. 2 Me: I am a college student at the University of Florida. My skills are working with all different kinds of people and relating with them them differently and being liked upon all. I have extensive experience in the restaurant industry working in it since I way 15 (I am 20 now). My aspirations are to work hard, period. As of right now I do not know exactly what I want to do, but my plan is to figure it out within the next two years and work super hard at what it is I love to do. If this business unfolded in my favor I could see a great daily life for myself. Running the ParkBuddy app I would be dealing with a bunch of people and having to create great relationships to make everyone apart of the team happy. What am I offering to customers: I am offering peer to peer parking where people can make money renting out their empty parking spaces from people around the area who need a guaranteed parking space at a reasonable price. Who am I offering it t...
18A: Create A Customer Avatar My Avatar is a UF college student. Parking is a hassle on campus that is why I decided to make an everyday college student my ideal customer. This avatar comes from a different town and thinks Gainesville is "alright" of a city. He is very studious and will find him on his way to Library West about 4 days a week. If he's not at the library he is probably at Social with the boys because he also needs his "college experience" during his years at UF. He bleeds orange and blue and binge watches Netflix shows like its his night time job. Currently he is watching The Office for the 4th time, because that show never gets old. His daddy paid for a nice new BMW for high school graduation so he loves whipping it around campus blasting drakes new album. He feels like he is on top of the world during these years... but for some reason parking is the only thing that aggravates him every day of the freaking semester. If only there is a...