Final Reflection

1. After reading my blogs from this semester, I can definitely tell where my highs, lows, fun and moments of drudgery. I would say my low moment of this class was when I was trying to figure out a lot concept that I would be able to roll with for the rest of the semester, and have the passion for it that would keep me motivated to complete the tasks at hand. My high for the semester was when my concept was coming together to my liking and getting feedback to continuously tweak it to make it better, which started happening around the Idea Napkin number 2 assignment. I would say the overall process of this class was the fun aspect of the semester, and just reflecting on it now.  

2. The most formative experience for me that I will remember for years to come was when we had to grow our social capital, and the process we had to take in order achieve success for the assignment. I definitely took a lot out of it, and it was great to meet people in the industry I would potentially get into with my venture concept.  

3. I wouldn't necessarily say that I am an entrepreneur at this moment, but I definitely think I have a great foundation to build upon if I want to continue down this path of becoming an entrepreneur. Additionally, I do believe that I have moved closer to developing an entrepreneurship mindset, and now I know the basics of what it takes to become an entrepreneur and the process one takes.  

4.  The one recommendation I have for students who are taking this in the future would be pick something you have a passion for, and something that you truly believe needs an addition to in order to make it a better product or service for the consumers. Also,  I would recommend that they build a solid schedule for this course in the first few weeks of the semester so that they build a strong habit in completing the assignments on time when they pick up in difficulty later on in the semester to preform best in this course. Finally, in order to foster this mindset, students have to be committed to process of the experiences in the assignments regardless if they succeed or not along the way, and to not give up after missing an assignment or two early on because they can still succeed in the class, while getting a valuable experience out of the class. The student is going to get out of the class what they put in to it!!  

My Exit Strategy

1. I intend to stay with my concept for at least the next decade, and I would like to retain majority ownership. I am not against giving up a certain percentage of my business up for further financial investment, and guidance. 
2. I have chosen this strategy because I would like to see the business grow, and see how it positively impacts the communities the product will be in. Also, I will be able to continue to grow my social and human capital in the process, which could lead to discovering more unmet needs in the environment. Thus, leading to potential opportunities that could lead to more business ventures overall. 
3. I believe my exit strategy has greatly influenced the decisions I have made for my concept. From the beginning, when I was trying to figure out an opportunity I wanted to do something that would make a difference for the future, and something that I would be able to be apart of for the start up and growing of it. Also, by being able to acquire additional resources definitely involves the growth of my concept from the Gainesville area to around the United States. Thus, leading to my initial thoughts of my exit strategy, and how I would like to be involved for quite sometime. 

Making It Real

Link for Resume----MAKING IT REAL!

My updated resume is attached!!

Venture Concept No. 1

Opportunity 

The opportunity that I have identified was the need for more electric vehicle (EV) charging stations in specific locations. I believe the dependence of crude oil by the United States is extremely disturbing, and until there is an alternative that is easily accessible to the majority of our citizens it is going to continue this way. Furthermore, the market for electric vehicles is starting to gain traction and become a necessity for a healthier environment for the future. Also, with more automakers manufacturing more EVs in their product line there is slowly becoming an unmet need for charging stations around the country, specifically smaller/rural communities. The need is for individuals who need to charge their vehicles when they are and out and about, and away from their home charger if they have one. Additionally, with Tesla set to release their Model 3 at the end of 2017 that is going to be more affordable for the average person this is also adding to the need of having more charging stations throughout the country because Tesla's vehicles are able to travel longer distances with less stops to charge than the average EV of other automobile manufacturers. This is also a force that is going to have automakers think of how they are going to be able to compete with Tesla in the future for the EV market, so in order for that to happen they are going to have to make EVs that will be able to travel a few hundred miles on a single charge. On the other hand, the vehicle these automakers have right now are the prime market for EV charging stations, since they need more charges more frequently. This opportunity would be tested here in Gainesville with the current EV market, and local residental and commercial properties. The current customers of EVs are meeting their need of charging stations by currently owning one at their residences, if they are homeowners or they are using the 10 or so stations currently around the Gainesville area. They are extremely loyal to this process because these are their only options to charge their vehicles. Finally, I believe this is a huge opportunity given the trend of electric vehicles on the road now, and the continuous process of research and development going on to produce even more in the near future, which means I believe the window of opportunity for this is only going to be open the next 3-4 years.  

Innovation 

• GREEN TANK-- FOR A GREENER TOMORROW!
• My innovation is a incrementally innovation to a product that is already on the market. 
• I would like to expand the electric vehicle charging market of the Gainesville community.
• My product would be provide current EV owners with more areas to charge their vehicles and have the freedom to go anywhere in town without the hassle of not being able to find a station near them or that is occupied. 
• I would sell the charging stations to local properties, such as residential and commercial places. 
• These properties would be charged for the station itself at a cost of $3,000 dollars per station, and installation fees, which vary depending on the amount of work needed to be done to install the station, so from $500 to several thousand on installation costs.
• I would get a commission off each station sell, as well as a small royalty if the property charged its customers to gain additional revenue. 

Venture Concept 

• Green Tank will provide a hassle-free option for consumers to charge their vehicles, while going about their busy lifestyles.
• Customers will buy this product because it gives them an added resource their to property along with an additional revenue source to promote. 
• It will allow companies to show customers they are environmentally conscious and forward thinking, which could attract new customers to their properties. 
• The current competitors the companies who have charging stations at the University of Florida, parking garage downtown, and Magnolia Park in Northwest Gainesville.  
• Their vulnerabilities are they are only have one or two stations at each location.
• The customer experience and support with the business locations play the biggest role defining my concept because I want to build a reputable brand that promotes positivity, while supporting an alternative to a pressing issue.
• Also the price point is not extremely high because most of the cost is up front and more of an investment.

Minor Elements

1. My social capital would have to be my concept's secret sauce, since I am building a relationship with a company that manufactures and distributes electric vehicle charging stations nationwide. 
2. The next opportunity would be partnering with this company to become an independent distributor for them, and promote both brand's in the process, while gaining valuable connections and credibility in the process. 
3. I would love to for this concept to be my everyday job in the next five years, and having my hands dirty in the day-to-day operations of this business. Also, if I were to build enough capital in this business I would like to add additional concepts to my portfolio that are geared towards environmentally friendly initiatives something that would bring intrinsic rewards.  

Celebrating Failure

Failure 

I would say the most I have failed at in the past few months were assignments associated with this class. The assignments I failed at were ones that we had to get interviews with because I would not find the right amount of people that I needed to be able to complete the assignment, while getting sufficient information in the process. It took me a few times of failing at these particular assignments for me to realize that I needed to take a different approach in being successful in the assignments rather than be starting the assignment earlier in the week or setting a goal of how many people to approach to get a rewarding interview that I would be able to use. 

Learning Experience 

The learning experience that I took from failing a few assignments with similar guidelines with this class was that I needed to find a method that would work with my personality and free time that would help me be successful with future assignments of this sort. Also, I learned that just because I didn't complete a few assignments and may have not got the experience out of the assignment that I should have it was still a learning experience that will allow me to handle similar situations of trying to get interviews again. 

Reflection 

I believe that failure is a necessary step in everyone's life that we all need to experience to some level. This is one of the only ways that we as human beings are going to learn, and I believe that the majority of the time when someone fails, myself included you get more out of that experience than if you would have completed it successfully, which will make a person gain multiple attributes out of that experience, such as resiliency and determination.  I would say that I handle failure in multiple ways because the majority of the time I am pretty hard on myself when I feel at something that I am determined to not make that same mistake again, since it affects me negatively. Other times, if I am stubborn and want to do something my way when others say maybe I should look at it another way, and then I fail at that task than I am not as hard on myself because I should have listened to other's feedback. However, I think I need to experience failure sometimes in order to get me going in the right direction again. Finally, I do believe this class has given me a new perspective on failure, and I think I am more likely to take risk now than I was at the beginning of this class because it is not as bad as you think it is when you fail at something. I think it was more about myself mentally telling me how bad it is going to turn out than actually doing something and failing at it, and not having that experience. 

Amazon Whisperer

1. REVENUE DRIVERS

Charging Station: The charging station is the main revenue driver for my business concept mainly because the concept centers around adding more electric car charging stations. This would include the sale of the stations to home owners, residential and commercial properties. Also, whoever decides to purchase a station, and decided to charge a fee to it's customers in order to use would have given a portion of the revenues they make from it. 

Franchise option:  If someone wants to become part of the electric vehicle movement and would like to make a living from it they have the opportunity to partner with my business, while selling charging stations in their location. This is where I would get additional revenue for franchise fees, and royalty payments. 

2. PRODUCT EXTENSION

The next big thing that my customers would want to see if  are mobile trucks that have charging stations built into it, which would drive around the city to the most demanding customer area. Also, these trucks would make multiple stops at a list of locations each day. This extension would have to me tested a highly saturated electric vehicle market to ensure the success and adaptability of this product to the industry. 

3. ENHANCING THE CURRENT PRODUCT 

The mobile trucks would enhance my existing product because it would continue to promote the brand by having massive exposure to a specific city, such as Gainesville, which would evolve the awareness of the physical- standalone locations of the charging stations. Additionally, it would make the customer feel secure in using our product, since we are thinking of ways to continually reach our customers no matter the time or place, which hopefully translates to stronger relationships with them and increase loyalty.  Thus, it would improve the users experience with our product because of the no-hassle availability of our charging stations. 

4. SIMILAR PRODUCT 

I was unable to find a product that would be a direct competitor, however, I found a product by Ebusbar that would a car charger that is portable. This product is a level two charger with 240 volt charging power that includes water proof, leakage, overvoltage, and overcurrent protection. It is compatible with a majority of the electric vehicles on the market. 

5. CUSTOMER REVIEWS 

85% of the customers who purchased this product gave it a 5 star review with 94% of the entire customer review base gave it at least  4 stars. The few customers that did not like this product were mostly for personal preference and expectation of the product as well as long living up to the description of it. On the other hand, the customers who approved of this product liked how inexpensive it was in relation to other car chargers in the market. Also, how fast the charger would charge there vehicles. 

6. DESIGN CHANGE

I would change the weight of the product as it is currently 8 pounds, and other portable chargers are coming in around 4-5 pounds. Also, I would add a retractable cord so that it is easier to maintain and increase the longevity of the product. On than  that, it is a pretty effective model. 

7. GREAT ADDITION 

This product would be a great addition to my current product offering because it would bring a customer base that has a solid following and name recognition with the electric car charging industry. Also, it would bring excellent customer service ratings along with a proven track record for selling product.

Elevator Pitch No. 3

Elevator Pitch No. 3

I unfortunately did not do the last elevator pitch, so I did not receive any feedback. However, I did change some things from the feedback I received from the first pitch. I made an attempt to have higher energy when describing my product. Also, I have done a lot more research, and I have talked to more individuals about my idea, so hopefully my confident level shows in regards to that. Other than that, I received positive feedback and look forward to hearing more reflections on this pitch.

Growing My Social Capital

Domain Expert: 

Randy Etman is a National Account Manager for SemaConnect, which is a nationwide company that is a provider of electric vehicle amenities, such as car charging stations and assistance. He is in charge of sales for the state of Florida, and is based in Orlando. I would say he fills the domain expert position because he the company he works for deals with multiple aspects of the car charging stations for electric vehicles and they sell these products to both commercial and residential clients. I found Randy, by searching a combination of Google and LinkedIn connecting him by email and direct message on LinkedIn. He provided me with insight into how people go about the process of purchasing charging stations and maintaining them through SemaConnect, and he did not expect anything in return, while providing this information. I now have the ability to connect with him through email or phone if I have anymore questions regarding my concept and the process from here on out, therefore, being able exploit this connection for future opportunities. 

Market Expert: 

Tim Swazey is one of the Sales Manager of Gainesville Nissan. He is in charge of supervision and direction of the sales team at Gainesville Nissan. I would say he is my market expert because I was able to learn a lot of information from him over my target audience in regards to owns and who are looking for electric vehicles in the Gainesville area. I found Tim by researching the car dealerships in Gainesville about a month ago, and who dealt with the selling of electric vehicles. I called Gainesville Nissan, and did a general inquiry of what I was looking for,  and they set me up with Tim. Furthermore, I told him what what kind of information I was looking for, and what I could do in order to find out more about my target audience. He then spent sometime explaining what a typical customer of electric vehicles does when purchasing one, and the method they go about, which was very sharp information and exactly what I was looking for.  He was more than willing to provide me with additional information anytime I would need it, and he did not expect anything in return. I believe I would be able to go back to him and update him on my idea for the target audience and see what type of feedback he would for it, thus, exploiting Tim to enhance my business concept.

Supplier Expert:

I was unable to find a supplier expert for my business concept, as no one returned my request for information. However, I do believe that Randy Etman and SemaConnect would fall under this category as well because not only is this company a domain expert that knows the electric vehicle industry very well, but also supplies products and services to individuals from electric vehicle charging stations to mobile apps for their clients to track information on these stations. 

Reflection: 

This was an excellent experience that helped me gain more networking experience for the future, and show that it is not as difficult as I thought it would be. I believe this has shown me that if you go out of your way and make attempts to contact people you would not have beforehand, and explain to them what you are trying to do more than likely they will be willing to help out. Also, I believe showing initiative helped as well. Furthermore, I differently believed this experience differed from my previous networking experiences because this time I had to put a lot more effort in and personally contact this individuals in order to get a response, and I did not have this set up, for instance, like a networking fair at UF.  

Reading Reflection No. 2

For my second reading reflection I read "The Long Tail: Why the Future of Business Is Selling Less of More" by Chris Anderson.

General theme or argument of the book? 

The general theme of this book was focusing on the long tail of the curve in regards to products and services in overall business industry. It emphasizes how the old rule of 80/20, where 80% percent of business comes from a 20% of a businesses consumers is not going to work for the future of businesses because we are at a time where there are so many niche markets that making a lot of products or a select few will be more successful and substaintable.  

How did the book connect with and enhance what you are learning in ENT 3003?

This book is connecting with and enhancing what Dr. Pryor is instilling us with in this course because it shows that we do not have to focus on one specific idea or industry to be successful, which Dr. Pryor is having us do by coming up with a business concept and going through the process. Again, by having multiple ideas, products or services in niche markets a company can be successful by reaching a few hundred thousand to a million people that has that specific interest in that item instead of making a product or service that has to appeal to the mass market in order to be successful. 

Design an exercise for this class, what would the exercise involve? 

If I were to make an exercise for this class based of this book it would involve having students research a long tailed company, such as Google, Ebay, Amazon, or KitchenAid, etc. to see how these companies have a variety of products available to everyone, while making the process of finding something easy. Then I would have them relate and reflect that research into the process of developing their business concepts to provide additional perspectives and experiences to continue building an entrepreneurial mindset.  

What was my biggest surprise or 'aha' moment when reading this book? Basically, what did you learn that differed most from your expectations? 

I had no idea what the long tail meant in the economic world and how it uses graphs about products and their sales to describe this term. So, once started reading the book and realizing how prominent this idea is in today's markets of sales is amazing. Also, given the fact that this book was written in 2006, Anderson's idea of how aggregators, such as Amazon can be a pure digital retailer and still have mainstream success was one of the biggest surprises to me because that is exactly what Amazon is doing for today's markets. Finally, how much insight Anderson provided for economic points is thought-provoking.

Idea Napkin No. 2

Product Name: GREEN TANK

YOU

Not much has changed with myself, since the first idea napkin. I am a rising senior majoring in sport management, and my skills and experience include customer service, management, event management, data analysis, and international travel. However, I have gained more knowledge in the electric car industry, which is helping enhance my idea to improve my business concept. 

WHAT ARE YOU OFFERING?

I am offering a product where people can travel around their city with no worries about having to find somewhere to charge their electric car by having car charging stations readily available. These car charging stations we will be strategically placed so that it is convenient for whoever needs a charge regardless of what they are doing. I would still like to start this concept in the Gainesville area.

WHO ARE YOU OFFERING IT TO? 

I will be offering this product to two segments of a target market. The first segment are people who own an electric car, and are the individuals who need this product the most. These individuals may have the option of having charging station at their house, if available. However, people who do not have access to a charging stations regularly would benefit the most. The second segment would be restaurants and business owners who would like to expand their business model and reputation by adding charging stations to their property. This product would not have to take up a lot of parking spaces for businesses that have limited space, and who still want to make an eco-friendly difference. For example, restaurants in the downtown Gainesville area that have limited space, such as The Top or OAK would still have the option to add a charging station or two that would bring value to their mission and reputation, and the same would go for local businesses in the area. On the other hand, an area like the Oaks mall would not have a problem adding multiple charging stations because of the amount of parking available. 

WHY DO THEY CARE?

These two segments would be acting together to use the charging stations because people who own electric cars are thinking about the future of the environment, and are taking an initiative to make a difference. This goes along with the businesses who have that apart of their vision and mission statements to make a difference by making changes for the future. Therefore, if they see a company that shares their same values and vision for the future they are more than likely going to support this venture and invest in it. Also, by doing this these groups will spread awareness of the service by letting people know in their groups that there is an expansion of car charging stations. 

CORE COMPETENCIES 

In addition to my drive to wanting to see a better tomorrow and making a difference. I believe that the research and probing of the Gainesville area shows that there is not much focus or attention of adding more car charging stations to the area. This only helps my concept in regards to trying to add more stations here, and gives me a small advantage in doing so. Therefore, this is continuing to be my strongest competency during this journey.

I have a strong belief that these five elements are slowly coming together and making a strong chance for this idea to work as a business concept. As I continue to get further into the idea through research and continuous brainstorming to improve the idea, I believe I will be able to at least get to meet the right social capital in order to hear me out, and potentially investment in furthering it. Thus, by being able to get the necessary financing for this idea I would be able to continue to use the Gainesville area as a test market for further expansion to other cities in the future. 

FEEDBACK MEMO 

1. Great idea for the future 
2. Financing is biggest obstacle 
3. Continue with passion wanting to make a difference with potential to making it a full-time job.
4. Need to build awareness of electric cars 
5. Maybe to early in the electric car industry to see success of this idea, but could see success in the decade or so. 

I really did not get too much negative feedback for my business concept. One of the only things others recommended was how to expand this idea into other markets, such as the public transportation system. Also, I continued to incorporate how I want to make a difference for the future by making a change in how we commute by going with more environmentally-friendly options. I appreciate the feedback part because it truly helps me expand and see things that I might not have thought of beforehand. 

My Secret Sauce

1. Description of my human capital 

• Accepts Responsibility- This trait makes me different because I believe it shows self-evaluation, and being able to see and understand when something goes wrong when I am at fault. For instance, not finishing a homework assignment by the deadline, therefore, getting points deducted or not receiving a grade at all, which means I have to accept responsibility for my actions and deal with the consequences associated with it. Then I figure out what I need to correct in order to not repeat the same mistake. I believe this holds true when running a business as well because if one does not accept responsibility for certain actions that could be a detriment to business instead of benefitting it.   
• Authentic- I believe this trait makes me unique because I am able to be a trusted employee by being able to have a professional and personal relationship with my co-workers and superiors, which in my experience has built and maintain long-term trust and respect in the workplace and made valuable relationships in the process. I think this is a major trait an entrepreneur should have when running a business and be able to build and maintain relationships with clients as well as one's employees. 
• Cultural Awareness- I believe this makes me unique because I have been fortunate enough to travel to many different countries around the world from my military service. This has allowed me to be immersed in different cultures for an amount of time to gain appreciate for it, and be able to empathize with the differences between their culture and mine, which than leads to better understanding on my part, and I am able to build a connection with them. Therefore, I have knowledge on how to interact with different cultures, and I don't assume a culture will know what I am talking about if they have little knowledge of our society and ways. It is then fun to exchange stories, and continue to build upon my international experiences. 
• Even-Tempered- This trait is extremely important to my uniqueness because it is probably one of my strongest traits. I believe I am able to be this way because I try and see situations from both sides, therefore, leading to a more neutral approach, and not becoming hot-headed or holding grudges for minor altercations. 
• Adaptability-  I believe my ability to adapt to certain situations, such as moving to a new place or starting a new job helps my uniqueness. This trait is valuable because being able to adapt to change regardless of the situation is very important in all aspects of life. Also, I am able to work effectively with people in team working situations, and I am able to contribute to the mission, while taking  beneficial information from these experiences. 

2. INTERVIEWS 

Interview One-Julia- This interview was with my sister Julia, and it basically sums up to how she believes how I have been resilient in up until this point in my life. Also, how I have an even-temperament in situations others may deem stressful.

Interview Two-Mom This interview was with my Mom, and it comes down to how I show compassion and empathy for others, while building upon my character from an early age.

Interview Three- Autumn This interview was with my girlfriend Autumn. She explains how what may stress the average person in everyday life from their personal to work life does not seem to effected me in the same way, which could be a positive trait in the workforce for me when burnout could be evident from these stresses. Also, she explains how when I truly commit myself to something that I have discipline and drive to complete the task.

Interview Four- Karen This interview was with my aunt Karen. She explains how I have been warming, caring, and hard working for an early age. Also, how my adverse upbringing has solidify my character into being compassionate and ability to listen to others, which leads be my resilient attitude.

Interview Five- Damon This interview was with my cousin Damon. He explains how my time in the military has really influenced the person I have become today, while providing me with life experiences and challenges that may be different from my peers. Also, he mentions how I have discipline and multicultural awareness that will only help me strive when going into the workforce.

3. DIFFERENCES 

For the most part, the five individuals that I interviewed and myself perceive me in similar ways. They may not have said the same traits the way I mentioned them, but they go hand in hand in regards to my overall human capital. I do believe how my interviewees see me is correct, and they also provided me with some feedback that I had not necessarily seen in myself, namely the resilient part, but it makes sense after hearing it. Finally, the only change I believe I would make from my list based on the interviews is the 'Accept responsibility" trait to the "resilient" trait.

My Customer's Avatar

For my women customer, I see her as an adventurous person who loves to travel, and do outdoor activities such as, hiking, camping, and yoga. Also, she is a mother who can't stand to be away from her children, but is also passionate about her career. She drives a white Toyota Prius (Hence, she is my customer for electric cars!!!) for her around the town activities and short mileage trips. Her family has an SUV to travel longer distances, but are looking into investing in the Tesla Model X (Tesla SUV). She has a garden for her herbs and vegetables, while doing most of her shopping at the local fresh market with trips to the farmers market on the weekends. Also, her favorite television shows are Grey's Anatomy, anything on the Food Network channel, and the HGTV channel for housing shows. Finally, her age ranges from mid-thirties to early fifties (35-50).

For my male customer, I see him as a person who is passionate about his career, such as an owner of a local brewery or professor of electrical engineering who wants to make a difference with what he is involved in. Also, he is an outdoor's person who likes to go on weekly road-biking trips with the occasional mountain biking trip, while fishing on the weekends in the summer, and teaching his children safety tips at the same time. Furthermore, he is was laid-back family man that enjoys grilling local organic steak and having a fresh green salad from his garden with his family. He bikes to work, since it is close proximity to his house, while using the family SUV for longer road trips. He enjoys watching the World Fishing Network, National Geography, and documentaries. One of his favorite fiction authors is Clive Cussler, and he is in his early forties to mid-fifties. (40-55). 

I would say that I have a few similarities with my customers in regards to liking to do outdoor activities and supporting local businesses, such as local food products and breweries.