I had many enjoyable and interesting experiences in this class and it has truly changed my outlook on the world. I have developed a more problem solving orientation, and now feel ready to attack the holes in markets. The most formative experience was the day I attended class for the extra credit workshop. That was also my favorite experience from this class and will be my most memorable. I loved meeting everyone in the class and hearing their ideas for solving problems in the community. That ties into the thing that I am most proud of in this class: the bug list. The bug list was my favorite assignment this semester because it really helped me make the connection between entrepreneurship and the world around me. It showed me that the true meaning of entrepreneurship isn't just starting your own business or being creative, it is about solving the problems that exist in our society. I now understand that and it has proved to me how I am a natural entrepreneur who has that problem-solving mindset and always will. My recommendation for people in this class is to really focus on their original concept and make sure it's something they really want to delve into and learn about. That is the one thing I regret and that has made this classical a little more difficult. I wish I would have known the class would be a buildup of our concept; I loved the structure and the idea of it, I just wish I got more out of it. So, to the next student, do better than I did and get more out of it.Friday, April 19, 2019
30A Final Reflection
I had many enjoyable and interesting experiences in this class and it has truly changed my outlook on the world. I have developed a more problem solving orientation, and now feel ready to attack the holes in markets. The most formative experience was the day I attended class for the extra credit workshop. That was also my favorite experience from this class and will be my most memorable. I loved meeting everyone in the class and hearing their ideas for solving problems in the community. That ties into the thing that I am most proud of in this class: the bug list. The bug list was my favorite assignment this semester because it really helped me make the connection between entrepreneurship and the world around me. It showed me that the true meaning of entrepreneurship isn't just starting your own business or being creative, it is about solving the problems that exist in our society. I now understand that and it has proved to me how I am a natural entrepreneur who has that problem-solving mindset and always will. My recommendation for people in this class is to really focus on their original concept and make sure it's something they really want to delve into and learn about. That is the one thing I regret and that has made this classical a little more difficult. I wish I would have known the class would be a buildup of our concept; I loved the structure and the idea of it, I just wish I got more out of it. So, to the next student, do better than I did and get more out of it.
29A – Venture Concept No. 2
My name is Griffin Goldstein, and I am starting a business to help parents and grandparents deal with their teen pregnancy. Teen pregnancy has always been an issue in society; whether it's having children when you are too young or having them without being prepared emotionally or financially, people need help to deal with these situations. That is the goal of this company: to provide a support system to the parents who do not know how to properly handle such a difficult situation. The company will offer educational products like guides as well as experts to talk to and ask questions to. This post will have four parts: first, I will talk about opportunity; second, I will talk about innovation; third, I will talk about the venture concept for this potential company; and lastly, I will talk about three elements of my business and how they impact the company as a whole.
Opportunity
The opportunity for my company involves targeting a product segment that is relatively desperate for any help possible. We will be attacking the unmet need of utilizing trained experts to support parents and grandparents whose children have recently become pregnant too early in life. When someone's child experiences early pregnancy, it is extremely tough for the family and very difficult to maintain solid relationships. It is important that this unborn child does not break up a family and that is why we are here. The change in the environment that motivates me to solve this problem is the future issue of overpopulation. We need to start valuing the creation of human life more so that lives will be generally better for future populations. Geographically these opportunities are in the United States; however, we will start on a smaller scale, locally, to get our product moving. These customers are satisfying this need by simply enduring the situations and dealing with them to the best of their ability. However, more often than not, that is not sufficient enough to prevent broken relationships or to prevent a birth that will not be beneficial to the family or the potential child. This opportunity I feel is pretty big and will only continue to grow. However, in order to get the most out of it, we need to be the first on the scene.
Innovation
This company will have two fronts of innovation: product and services. First, we will offer a product that is incrementally innovative which serves to provide vital information for someone trying to figure out how to handle a situation in which their child or grandchild has become pregnant. This product will be a guide that is sold online for a price of $20 and we will frequently offer discounts to promote the product. The second thing is the service. Eventually, we would love to provide a multitude of services to support these people in the target market; however, to start, I believe we should begin with one simple service of offering one-on-one expert question and answers to customers. I believe we could set up a website that allows people to book these experts for periods of time in 30-minute increments where the first 30-minutes is 50$ and every 30-minutes after that is 35$ extra with a cap of 2 hour sessions. These two offerings will allow us to target the same market but in different ways. For the people who like to read and are alright with getting information from a guide, we offer it; and for the people that want to talk to someone about their specific situation, we offer it as well.
Venture Concept
Although the forms of the products and services are common, the information gained from each can be qualified as radically innovative. This is because there is not currently a company, guides, or services that are in place to solve this SPECIFIC issue in the community. Yes, it is true that some companies offer free advice to help with this issue, ours will be different and more helpful than most. It's because of the reputation our company will garner as specialists that I believe will lead to success. Customers will want to utilize our resources once they respect us as experts in our respective field. These customers are the ones who are desperate for support in dealing with their child's early pregnancy. Once people are aware of this as a solution I believe it will be quite easy to get people to utilize our resources in a time of dire need. The competitors of my business are basic family therapists and companies like planned parenthood; however, there is no company that only does the specific services we want to offer. People don't want help for their problem from someone who is a jack of all trades, they want a master of the trade in which the problem exists, and that's what we will be. This business would be organized to realize quick early growth and then stable off in the future. All of the revenue generated will be going back into the business to grow it as to achieve my goals, we need to have extensive resources in both human capital and economic capital. However, once all of these necessities are met, our company will then be fully prepared to meet the needs of our customers.
The Three Extra Elements
1) I believe my most important resource is the connections to the sources of information and experts in the field. In order for my business to be successful, we need qualified people to help in the formation of the guide as well as offering the services to these customers in the one-on-one sessions. My current connections to these experts are extremely important because I need to get these people to come work for me.
2) The next big thing for this company will be expanding our website to offer samples of our product to potential customers or people who just want general information that may assist them with their issue. It may seem like any old doctor could help with these issues, but our qualifications and testimonials will prove that it's simply not true. Only we have the experience and the know how to provide qualified advice to people in such traumatic times.
3) In five years I want this company to have garnered all the necessary resources to properly serve our clients. This means having a reputable and quality guide to help parents and grandparents, as well as having experts to service these clients with their specific problems. In the next decade as an entrepreneur, I want to have an understanding of what it means to start a business as well as start to generate an actual income from it. I want to be living off of my entrepreneurial ventures by this time rather than the job I got right out of college.
Feedback and Change from Original Venture Concept
One of the major concerns of my feedback was that I may have a hard time providing differentiated information. However, I addressed those concerns in my venture concept and extra elements sections. We will have the qualified people with strong reputations and backgrounds all collaborating to help thee particular people with their particular issue. I was also complemented on the direction of the company and I plan to continue that path. One of comments requested an interview and I would love to help but I believe I have also provided all the necessary info for my business and while it will be a success.
Friday, April 12, 2019
28A - Your Exit Strategy
1) My exit strategy is one of two parts. First, I will attempt to expand my business using some of the strategies mentioned in previous posts in this blog. I have big aspirations for this company, and I believe I can expand it into a worldwide brand bigger than one's wildest dreams. However, if I am attempting to do this and I find that expansion is plateauing, I will immediately sell my business and enter another venture.
2) I have selected this strategy because it allows me to still shoot for the stars and not consider the possibility that I might be out of the business in a few years. It allows me to, first, see if I can access the maximum potential of this company. However, as this is my very first venture while I am still young, I have no ties to it as I know flaws are inherent. I plan to use this as a learning experience to apply to my next venture if I find that I can not expand my brand how I dreamed.
3) Yes, I believe that my exit strategy has impacted the way I plan to operate my business. I now understand what the objective is with this venture and I can devote all my resources to realizing that goal: expanding this company into a worldwide brand beyond anyone's wildest dreams! And if I fail, no hard feelings, move on to the next one chief. That is the mentality that I believe is key to success in entrepreneurship. Failure is inevitable but it is never a reason not to try!
2) I have selected this strategy because it allows me to still shoot for the stars and not consider the possibility that I might be out of the business in a few years. It allows me to, first, see if I can access the maximum potential of this company. However, as this is my very first venture while I am still young, I have no ties to it as I know flaws are inherent. I plan to use this as a learning experience to apply to my next venture if I find that I can not expand my brand how I dreamed.
3) Yes, I believe that my exit strategy has impacted the way I plan to operate my business. I now understand what the objective is with this venture and I can devote all my resources to realizing that goal: expanding this company into a worldwide brand beyond anyone's wildest dreams! And if I fail, no hard feelings, move on to the next one chief. That is the mentality that I believe is key to success in entrepreneurship. Failure is inevitable but it is never a reason not to try!
27A - Reading Reflection
The Art of Social Media: Power Tips for Power Users, Guy Kawasaki
1: The objective of this book was to empower the reader with knowledge about Social Media and how imperative it is to the success of business in today's market. Kawasaki organized this informational novel through 100 tips.
2: One thing that I learned from this class is that entrepreneurship is about being outside your comfort zone sometimes and that is okay. This book connected with that feeling because I know that I need to step outside my comfort zone and increase my social media presence because I know it will help me in the long run.
3: The exercise would include 3 parts: first, a quiz to inform them about how truly important social media is in today's society; second, I would give good and bad examples of uses of social media to convey the most significant teachings of the book; and lastly, I would have them take what they've learned and apply it to their own social media.
4: The biggest 'aha' moment I had when reading this book is one that I seem to have a lot just in different forms. I keep learning from life how you need to be more considerate of what the audience might want from you as opposed to what you might want to convey. This book showed me that I sometimes have to appeal to my audience's desires if I want more success and growth. This really resonated with me and I think it is one of the major takeaways from this book.
1: The objective of this book was to empower the reader with knowledge about Social Media and how imperative it is to the success of business in today's market. Kawasaki organized this informational novel through 100 tips.
2: One thing that I learned from this class is that entrepreneurship is about being outside your comfort zone sometimes and that is okay. This book connected with that feeling because I know that I need to step outside my comfort zone and increase my social media presence because I know it will help me in the long run.
3: The exercise would include 3 parts: first, a quiz to inform them about how truly important social media is in today's society; second, I would give good and bad examples of uses of social media to convey the most significant teachings of the book; and lastly, I would have them take what they've learned and apply it to their own social media.
4: The biggest 'aha' moment I had when reading this book is one that I seem to have a lot just in different forms. I keep learning from life how you need to be more considerate of what the audience might want from you as opposed to what you might want to convey. This book showed me that I sometimes have to appeal to my audience's desires if I want more success and growth. This really resonated with me and I think it is one of the major takeaways from this book.
26A - Celebrating failure
One aspect of my life in which I have failed in this past semester was procrastination. I failed to stick to the schedules I set throughout the semester and it led to stress and anxiety. I feel like I failed myself and it motivated me to be better. I learned that in the real world there isn't going to be time to not do what I need to do, if I want to maintain my sanity. I have to stay on top of my life and the objectives I have set forth. Even though it has not made it so I haven't accomplished my goals, it's the manner in which I have accomplished those goals that I have to change. This was a difficult time for me as I had trouble eating and sleeping. This class has helped me learn that I need to make leaps in my life if I want to enact real change. I want to hit 225.
Friday, April 5, 2019
24A- Venture Concept
My name is Griffin Goldstein, and I am starting a business to help parents and grandparents deal with their teen pregnancy. Teen pregnancy has always been an issue in society; whether it's having children when you are too young or having them without being prepared emotionally or financially, people need help to deal with these situations. That is the goal of this company: to provide a support system to the parents who do not know how to properly handle such a difficult situation. The company will offer educational products like guides as well as experts to talk to and ask questions to. This post will have four parts: first, I will talk about opportunity; second, I will talk about innovation; third, I will talk about the venture concept for this potential company; and lastly, I will talk about three elements of my business and how they impact the company as a whole.
Opportunity
The opportunity for my company involves targeting a product segment that is relatively desperate for any help possible. We will be attacking the unmet need of utilizing trained experts to support parents and grandparents whose children have recently become pregnant too early in life. When someone's child experiences early pregnancy, it is extremely tough for the family and very difficult to maintain solid relationships. It is important that this unborn child does not break up a family and that is why we are here. The change in the environment that motivates me to solve this problem is the future issue of overpopulation. We need to start valuing the creation of human life more so that lives will be generally better for future populations. Geographically these opportunities are in the United States; however, we will start on a smaller scale, locally, to get our product moving. These customers are satisfying this need by simply enduring the situations and dealing with them to the best of their ability. However, more often than not, that is not sufficient enough to prevent broken relationships or to prevent a birth that will not be beneficial to the family or the potential child. This opportunity I feel is pretty big and will only continue to grow. However, in order to get the most out of it, we need to be the first on the scene.
Innovation
This company will have two fronts of innovation: product and services. First, we will offer a product that is incrementally innovative which serves to provide vital information for someone trying to figure out how to handle a situation in which their child or grandchild has become pregnant. This product will be a guide that is sold online for a price of $20 and we will frequently offer discounts to promote the product. The second thing is the service. Eventually, we would love to provide a multitude of services to support these people in the target market; however, to start, I believe we should begin with one simple service of offering one-on-one expert question and answers to customers. I believe we could set up a website that allows people to book these experts for periods of time in 30-minute increments where the first 30-minutes is 50$ and every 30-minutes after that is 35$ extra with a cap of 2 hour sessions. These two offerings will allow us to target the same market but in different ways. For the people who like to read and are alright with getting information from a guide, we offer it; and for the people that want to talk to someone about their specific situation, we offer it as well.
Venture Concept
Although the forms of the products and services are common, the information gained from each can be qualified as radically innovative. This is because there is not currently a company, guides, or services that are in place to solve this SPECIFIC issue in the community. It's because of the reputation our company will garner as specialists that I believe will lead to success. Customers will want to utilize our resources once they respect us as experts in our respective field. These customers are the ones who are desperate for support in dealing with their child's early pregnancy. Once people are aware of this as a solution I believe it will be quite easy to get people to utilize our resources in a time of dire need. The competitors of my business are basic family therapists and companies like planned parenthood; however, there is no company that only does the specific services we want to offer. People don't want help for their problem from someone who is a jack of all trades, they want a master of the trade in which the problem exists, and that's what we will be. This business would be organized to realize quick early growth and then stable off in the future. All of the revenue generated will be going back into the business to grow it as to achieve my goals, we need to have extensive resources in both human capital and economic capital. However, once all of these necessities are met, our company will then be fully prepared to meet the needs of our customers.
The Three Extra Elements
1) I believe my most important resource is the connections to the sources of information and experts in the field. In order for my business to be successful, we need qualified people to help in the formation of the guide as well as offering the services to these customers in the one-on-one sessions. My current connections to these experts are extremely important because I need to get these people to come work for me.
2) The next big thing for this company will be expanding our website to offer samples of our product to potential customers or people who just want general information that may assist them with their issue.
3) In five years I want this company to have garnered all the necessary resources to properly serve our clients. This means having a reputable and quality guide to help parents and grandparents, as well as having experts to service these clients with their specific problems. In the next decade as an entrepreneur, I want to have an understanding of what it means to start a business as well as start to generate an actual income from it. I want to be living off of my entrepreneurial ventures by this time rather than the job I got right out of college.
Opportunity
The opportunity for my company involves targeting a product segment that is relatively desperate for any help possible. We will be attacking the unmet need of utilizing trained experts to support parents and grandparents whose children have recently become pregnant too early in life. When someone's child experiences early pregnancy, it is extremely tough for the family and very difficult to maintain solid relationships. It is important that this unborn child does not break up a family and that is why we are here. The change in the environment that motivates me to solve this problem is the future issue of overpopulation. We need to start valuing the creation of human life more so that lives will be generally better for future populations. Geographically these opportunities are in the United States; however, we will start on a smaller scale, locally, to get our product moving. These customers are satisfying this need by simply enduring the situations and dealing with them to the best of their ability. However, more often than not, that is not sufficient enough to prevent broken relationships or to prevent a birth that will not be beneficial to the family or the potential child. This opportunity I feel is pretty big and will only continue to grow. However, in order to get the most out of it, we need to be the first on the scene.
Innovation
This company will have two fronts of innovation: product and services. First, we will offer a product that is incrementally innovative which serves to provide vital information for someone trying to figure out how to handle a situation in which their child or grandchild has become pregnant. This product will be a guide that is sold online for a price of $20 and we will frequently offer discounts to promote the product. The second thing is the service. Eventually, we would love to provide a multitude of services to support these people in the target market; however, to start, I believe we should begin with one simple service of offering one-on-one expert question and answers to customers. I believe we could set up a website that allows people to book these experts for periods of time in 30-minute increments where the first 30-minutes is 50$ and every 30-minutes after that is 35$ extra with a cap of 2 hour sessions. These two offerings will allow us to target the same market but in different ways. For the people who like to read and are alright with getting information from a guide, we offer it; and for the people that want to talk to someone about their specific situation, we offer it as well.
Venture Concept
Although the forms of the products and services are common, the information gained from each can be qualified as radically innovative. This is because there is not currently a company, guides, or services that are in place to solve this SPECIFIC issue in the community. It's because of the reputation our company will garner as specialists that I believe will lead to success. Customers will want to utilize our resources once they respect us as experts in our respective field. These customers are the ones who are desperate for support in dealing with their child's early pregnancy. Once people are aware of this as a solution I believe it will be quite easy to get people to utilize our resources in a time of dire need. The competitors of my business are basic family therapists and companies like planned parenthood; however, there is no company that only does the specific services we want to offer. People don't want help for their problem from someone who is a jack of all trades, they want a master of the trade in which the problem exists, and that's what we will be. This business would be organized to realize quick early growth and then stable off in the future. All of the revenue generated will be going back into the business to grow it as to achieve my goals, we need to have extensive resources in both human capital and economic capital. However, once all of these necessities are met, our company will then be fully prepared to meet the needs of our customers.
The Three Extra Elements
1) I believe my most important resource is the connections to the sources of information and experts in the field. In order for my business to be successful, we need qualified people to help in the formation of the guide as well as offering the services to these customers in the one-on-one sessions. My current connections to these experts are extremely important because I need to get these people to come work for me.
2) The next big thing for this company will be expanding our website to offer samples of our product to potential customers or people who just want general information that may assist them with their issue.
3) In five years I want this company to have garnered all the necessary resources to properly serve our clients. This means having a reputable and quality guide to help parents and grandparents, as well as having experts to service these clients with their specific problems. In the next decade as an entrepreneur, I want to have an understanding of what it means to start a business as well as start to generate an actual income from it. I want to be living off of my entrepreneurial ventures by this time rather than the job I got right out of college.
25A - What's Next?
Existing Market
1) The future of our business includes an initial product launch to attract consumers to our business. This initial product will be our guide to parents and grandparents dealing with teen pregnancy. Our business will also then offer support for this product as well as experts to help parents one-on-one with their situation. These meetings or sessions can occur over video call or in person. I think our success will come from being the best in a very specialized field.
2) I interviewed 3 people that may be apart of my current existing market. When I spoke to each of these interviewees, I made sure that I did not spoil them with what I had in mind for the future of my company. This way, they were able to be creative and unique with their answers, and that they were. One interviewee mentioned how the business should evolve into a large organization that has a website with Q&A's, free information to help people, as well as paid offerings such as the things mentioned previously. Another mentioned how it sounds like this business could become a non-profit, in which it helps people and finds funding from outside sources. This is an interesting idea and it makes sense for what I am trying to offer to my customers. We could work with planned parenthood to be the support system for the families of the people utilizing planned parenthood's resources. The last interviewee thought that we could just continue to come out with more and more informational guides to sell to consumers about different information once credibility is earned.
3) All in all, these interviews sparked a lot of ideas for the potential growth of this business. I see this business going in a direction in which the community would see us more as a socially responsible, helpful organization rather than a normal for-profit business. This includes offering free services as well. I think these free services may act as samples for our paid products and services as well as general help for problems. I don't think it's fair to limit the expectations of my company. Therefore, I will reach for the stars. I believe this company can eventually become a household name in the area of teen pregnancy and the relationships between children and their parents. This can be done through extensive product offerings and service offerings as well. These products will include more guides and brand merchandise, while the new service offerings may be therapeutic sessions with experts, general online advice, free online information, and possibly abortion or medical services.
These new services will help expand our existing market. We need to establish a strong reputation and encourage the spread of our company through word of mouth. I think we can implement a loyalty and referral program as well to assist in these efforts. After all these new products and services are offered and our reputation is solid, I believe our existing market will gain significant size.
New Market
1) I think a new potential market can be in Africa, or other locations that suffer extreme poverty and population issues. I think that if we were able to expand our services into Africa, possibly in the form of a non-profit, we will be able to find a whole new market. Not only that, but I believe that putting in good work in these locations will bring back a strong reputation for our company.
2) As mentioned in the paragraph above, I think that in order to serve people that cannot pay for the services we would need outside funding. Our organization would operate as a non-profit in some aspects and as a profit-driven company for some. Our services would mainly be motivating change in these communities so that people may be less inclined to have children for the sake of having children and start considering that child's future.
3) After interviewing two people about extending my company's market, I found that it would be incredibly difficult to provide services to these people because of their way of life and religion. One interviewee mentioned how it's how the culture is in some parts of the world that drives early pregnancy and that it would be incredibly difficult to convince them to change their ways. I mentioned to the second interviewee what the first interviewee said and she had a different opinion about the situation. She believes that even though it is apart of some cultures if change is necessary then we should strive to be the change in the world that we seek. However, I am not trying to bankrupt my company providing probono services to people who don't want the help.
4) I learned that this idea of targeting poorer markets that might be too expensive and not viable. However, if my company did become a large organization with a lot of capital, then this opportunity may become more viable. So, for the sake of this post, let's pretend my company has the capital to help these people. Each new market would have it's own different challenges. That is one thing I did not seriously consider when thinking of this new market. Different cultures are more receptive than others for things like this and I think we would have to ween ourselves into this program and earn credibility before we extend into some of the markets that are less receptive to the program.
The other aspect of this is that the people of these countries have different life goals. To put this into perspective, salmon are known to swim upriver for miles just to mate, spawn babies, and then die. This is their natural instinct; people in these countries may have different natural desires out of life including making new life as a high priority. So it would be hard to convince these people that the thing they are living for may not be the best thing to live for in order to get the most out of life. All in all, I am not sure how this would look considering to them it might seem like we are pushing some sort of religion onto them, even though that is not the case. Maybe instead of trying to change people, we can try just support them in the situations that they are already in.
1) The future of our business includes an initial product launch to attract consumers to our business. This initial product will be our guide to parents and grandparents dealing with teen pregnancy. Our business will also then offer support for this product as well as experts to help parents one-on-one with their situation. These meetings or sessions can occur over video call or in person. I think our success will come from being the best in a very specialized field.
2) I interviewed 3 people that may be apart of my current existing market. When I spoke to each of these interviewees, I made sure that I did not spoil them with what I had in mind for the future of my company. This way, they were able to be creative and unique with their answers, and that they were. One interviewee mentioned how the business should evolve into a large organization that has a website with Q&A's, free information to help people, as well as paid offerings such as the things mentioned previously. Another mentioned how it sounds like this business could become a non-profit, in which it helps people and finds funding from outside sources. This is an interesting idea and it makes sense for what I am trying to offer to my customers. We could work with planned parenthood to be the support system for the families of the people utilizing planned parenthood's resources. The last interviewee thought that we could just continue to come out with more and more informational guides to sell to consumers about different information once credibility is earned.
3) All in all, these interviews sparked a lot of ideas for the potential growth of this business. I see this business going in a direction in which the community would see us more as a socially responsible, helpful organization rather than a normal for-profit business. This includes offering free services as well. I think these free services may act as samples for our paid products and services as well as general help for problems. I don't think it's fair to limit the expectations of my company. Therefore, I will reach for the stars. I believe this company can eventually become a household name in the area of teen pregnancy and the relationships between children and their parents. This can be done through extensive product offerings and service offerings as well. These products will include more guides and brand merchandise, while the new service offerings may be therapeutic sessions with experts, general online advice, free online information, and possibly abortion or medical services.
These new services will help expand our existing market. We need to establish a strong reputation and encourage the spread of our company through word of mouth. I think we can implement a loyalty and referral program as well to assist in these efforts. After all these new products and services are offered and our reputation is solid, I believe our existing market will gain significant size.
New Market
1) I think a new potential market can be in Africa, or other locations that suffer extreme poverty and population issues. I think that if we were able to expand our services into Africa, possibly in the form of a non-profit, we will be able to find a whole new market. Not only that, but I believe that putting in good work in these locations will bring back a strong reputation for our company.
2) As mentioned in the paragraph above, I think that in order to serve people that cannot pay for the services we would need outside funding. Our organization would operate as a non-profit in some aspects and as a profit-driven company for some. Our services would mainly be motivating change in these communities so that people may be less inclined to have children for the sake of having children and start considering that child's future.
3) After interviewing two people about extending my company's market, I found that it would be incredibly difficult to provide services to these people because of their way of life and religion. One interviewee mentioned how it's how the culture is in some parts of the world that drives early pregnancy and that it would be incredibly difficult to convince them to change their ways. I mentioned to the second interviewee what the first interviewee said and she had a different opinion about the situation. She believes that even though it is apart of some cultures if change is necessary then we should strive to be the change in the world that we seek. However, I am not trying to bankrupt my company providing probono services to people who don't want the help.
4) I learned that this idea of targeting poorer markets that might be too expensive and not viable. However, if my company did become a large organization with a lot of capital, then this opportunity may become more viable. So, for the sake of this post, let's pretend my company has the capital to help these people. Each new market would have it's own different challenges. That is one thing I did not seriously consider when thinking of this new market. Different cultures are more receptive than others for things like this and I think we would have to ween ourselves into this program and earn credibility before we extend into some of the markets that are less receptive to the program.
The other aspect of this is that the people of these countries have different life goals. To put this into perspective, salmon are known to swim upriver for miles just to mate, spawn babies, and then die. This is their natural instinct; people in these countries may have different natural desires out of life including making new life as a high priority. So it would be hard to convince these people that the thing they are living for may not be the best thing to live for in order to get the most out of life. All in all, I am not sure how this would look considering to them it might seem like we are pushing some sort of religion onto them, even though that is not the case. Maybe instead of trying to change people, we can try just support them in the situations that they are already in.
23 A
- Me
- V: I am unique, intelligent, and motivated to succeed.
- R: there is only one of me
- I: it is very hard, quite impossible in fact, to copy me and what I can offer to a company.
- N: There may be other people who can do the things I do, but there is no one who thinks like me.
- Computers
- V: Useful in advertising, marketing, finances, and many other business needs.
- R: Common
- I: This resource is replaceable and upgrade-able.
- N: This resource is substitutable.
- Knowledge of Social Media marketing
- V: useful in business building and new market openings
- R: this is a valuable skill nowadays so more and more people are starting to learn
- I: this is a skill that cannot be imitated exactly
- N: This resource is not particularly substitutable but others do have similar knowledge.
- Connections with potential customers
- V: this is imperative for the beginning of our company to start income generation
- R: this is a rare resource that needs to be valued highly
- I: this resource cannot necessarily be replicated because of the customers I would have would be mine and no one else's with respect to this product segment.
- N: This resource may be substitutable because you can find new customers
- UF connections
- V: this is very valuable for many reasons: finding new customers, educational resources, and contributors to the future product.
- R: this is a relatively rare capability for people in my product segment
- I: this is not imitable
- N: this is not a subsitutable resource
- Connections to professors and other sources of information for product
- V: this is extremely valuable and necessary for the production and success of my product
- R: this is a rare resource
- I: this resource is pretty hard to copy
- N: this resource contains knowledge and knowledge is different for each individual so I would say this is a relatively non-substitutable
- Desperate customers
- V: the target market for my product is valuable because it will improve sales and garner growth
- R: this is a hard/rare market segment to target and appeal to
- I: This is an imitable resource but not easily
- N: This resource is not easily substitutable but it is possible
- Money
- V: capital is vital to the startup of a business
- R: This resource is not rare
- I: This resource is imitable
- N: This resource is substitutable
- Vision and business plan
- V: this is valuable because it is important to know the long term direction of the company if you want to succeed
- R: This resource is rare
- I: this resource is a vision in my mind so it is very difficult for someone to copy
- N: this resource may be substitutable but only in different variations
- Specific market targeting
- V: This is valuable because I know who I am trying to sell my product to so it makes it much easier to advertise and market
- R: This resource is not rare
- I: this resource is imitable
- N: This resource is not substitutable but there may be ways to achieve something similar
My top resource might actually be the connections to the sources that make my product truly beneficial to consumers. These people are imperative to the success of the company because I do not have the knowledge yet to provide an educational guide to dealing with problems related to early pregnancy. Without these people, my product would no longer be viable.
Friday, March 29, 2019
21A - Reading Reflection no. 2
I read How to Fail At Almost Everything and Still Win Big by Scott Adams. The general theme or argument of this book is that on the path to success one must experience failures, and it is how you react to those failures that will define your success. In life it is imperative that you try new things and take risks even if you might fail. There were 3 main opportunities that Adams really provided were living life around systems as opposed to finite goals that make you afraid to fail, test out career paths or jobs until you find what is truly right one, and lastly to find what keeps you motivated. This book connected to entrepreneurship in the way of connecting to the entrepreneurial-ship mindset, and what it takes to succeed as an entrepreneur. It helped me analyze the everyday tasks I was doing and how they were helping me towards the path I want to be on. This idea leads me to the experiment I would give to the class that relates the book; I would tell everyone to analyze the tasks they are doing on a daily basis, and try to turn them into things that they can learn from. And they also need to see what risks they are taking in their life and if they can reach farther and leap higher. The biggest aha when reading this book that differed from my expectations was the feeling it gave me when reading about Adams' idea of achievement and how it needs to be accomplished: I felt like I already knew what he was telling me and that I just needed to go out there and do it. So while this book was centered around Adams' life experiences and how his failures have translated into success, I felt more empowered by it than I did learned from it. I don't see that as a bad thing and I am happy I got the opportunity to read the book because I now feel ready to attack some things in my life I've been waiting for the chance to pounce on.
Friday, March 22, 2019
20A - Growing your social capital
1) Interviewee (Domain Expert) #1: Monsterdue otherwise known as Kyle. Kyle is a fitness instagram influencer who sells guides to his followers. I direct messaged Kyle and asked if I could ask him some questions about business. He does not have a large following but his content sells well enough to support him and his family so I was wondering how he differentiated from the numerous other fitness guides. He said you just gotta talk about what you truly believe and usually it will come out unique. I found this interesting as I believe it opens the door to creative solutions in the future. I talked to Kyle about my fitness journey and asked him if he could help me with giving me a recommendation on my product offering and he said sure. I asked how I could market my product or create a following for an online product when most of my consumers are older and not on social media as much. He recommended getting ads with google and other advertising locations on the internet. I think that was a great idea and it will surely help the success of my company.
2) Interviewee (Expert on Market) #2: I contacted my old friend Hannah Pate who studied at the University of Central Florida and now works in social care. I asked her if she knew anything about underage pregnancy and how prevalent she comes across that in her work. She said a lot of the children she cares for are being put into foster homes because of the fact that their parents are too young or too unprepared to care for them, not a majority of them but a lot. So in knowing that she had some knowledge in this field and dealing with these families, I told her about my product and asked for her opinion. She said she likes the idea as it can be very hard to cope in a situation where you're the parent of a pregnant teen and you may not have control over the situation. However, she doubts the viability of the product, wondering how it can be more in-depth and worth more than going to a real person like a therapist to help solve the problem. I will therefore have to make sure my product is of high enough quality and credibility to survive in this market. I asked Hannah if she would be there when I had an MVP ready or if I ever had any questions and she said she's there for me.
3) Interviewee (Important Supplier) #3: I could not think of a person that would sell products or services to other organizations in my industry to interview, but I thought of a person who sells advertising to other firms in my industry. My friend Alex Kenworthy currently works at Google in California and I still talk to him actively so contacting him was not a problem. I asked him what he knew about google ads and if I could ask him some questions that might relate to my business. He said his knowledge about google's ad program was pretty limited, but he said he could give it a shot. I first and foremost asked him if he would have a way for me to get involved with google and maybe they could provide lower-price ads for my potential company and he said that may be a possibility (jokingly as I will likely not pursue this product). However, I asked him how google chooses what ads people see and how firms get to choose what people see their ads. He answered in saying that they have a bunch of algorithms that decide what person may be most likely to click on the presented ad through information from search history, video history, and purchase histories. So, I learned from Alex that I might actually be able to target my market segment a little more directly than initially anticipated, and that's great news.
The one thing that really benefited me from doing this assignment was simply the act of reaching out to new people or people who just havent talked to in a while. It is important to take your shots especially when support is vital to any successful business. This gave me practice "hitting people up" if I simply want their help/support. Do not be afraid to take your shot.
2) Interviewee (Expert on Market) #2: I contacted my old friend Hannah Pate who studied at the University of Central Florida and now works in social care. I asked her if she knew anything about underage pregnancy and how prevalent she comes across that in her work. She said a lot of the children she cares for are being put into foster homes because of the fact that their parents are too young or too unprepared to care for them, not a majority of them but a lot. So in knowing that she had some knowledge in this field and dealing with these families, I told her about my product and asked for her opinion. She said she likes the idea as it can be very hard to cope in a situation where you're the parent of a pregnant teen and you may not have control over the situation. However, she doubts the viability of the product, wondering how it can be more in-depth and worth more than going to a real person like a therapist to help solve the problem. I will therefore have to make sure my product is of high enough quality and credibility to survive in this market. I asked Hannah if she would be there when I had an MVP ready or if I ever had any questions and she said she's there for me.
3) Interviewee (Important Supplier) #3: I could not think of a person that would sell products or services to other organizations in my industry to interview, but I thought of a person who sells advertising to other firms in my industry. My friend Alex Kenworthy currently works at Google in California and I still talk to him actively so contacting him was not a problem. I asked him what he knew about google ads and if I could ask him some questions that might relate to my business. He said his knowledge about google's ad program was pretty limited, but he said he could give it a shot. I first and foremost asked him if he would have a way for me to get involved with google and maybe they could provide lower-price ads for my potential company and he said that may be a possibility (jokingly as I will likely not pursue this product). However, I asked him how google chooses what ads people see and how firms get to choose what people see their ads. He answered in saying that they have a bunch of algorithms that decide what person may be most likely to click on the presented ad through information from search history, video history, and purchase histories. So, I learned from Alex that I might actually be able to target my market segment a little more directly than initially anticipated, and that's great news.
The one thing that really benefited me from doing this assignment was simply the act of reaching out to new people or people who just havent talked to in a while. It is important to take your shots especially when support is vital to any successful business. This gave me practice "hitting people up" if I simply want their help/support. Do not be afraid to take your shot.
Idea Napkin 19 A - Griffin Goldstein
Idea Napkin:
My name is Griffin Goldstein, and my experiences as a math tutor, student, friend, and family member are mostly responsible for my talents. These talents include strong academics, kindness, communication, and perspective. It's these qualities that I believe will be the main drivers in my future success. These qualities have led me to want my future company to be defined in similar ways: informative, responsible, helpful, and caring.
My company will be offering a series of in-depth guides to help mothers in particular situations that they may not be fully equipped to deal with, such as if your teen child were to become pregnant or impregnate another. These potential customers would likely be parents or new grand parents between the ages of 40-100. These customers also must actively use internet applications to become aware of my product as it will advertised almost entirely online. This product is for people who need support in a very tough situation in their lives, so they must all not be fully prepared or competent enough to handle a situation like teen pregnancy. I will use my ability to perform under pressure and to perform in high intensity situations to drive the success of the company.
I think these attributes match well with each other and can work harmoniously and create a better, more-successful business. What I got from the feedback is that I need to find ways to differentiate my product, and I think the route to do this is to release an innovative interactive guide that will be in-depth enough to satisfy broader needs of customers. I plan to extend this business outward with new products but this is the first product my company will attempt to sell, not necessarily the last.
My name is Griffin Goldstein, and my experiences as a math tutor, student, friend, and family member are mostly responsible for my talents. These talents include strong academics, kindness, communication, and perspective. It's these qualities that I believe will be the main drivers in my future success. These qualities have led me to want my future company to be defined in similar ways: informative, responsible, helpful, and caring.
My company will be offering a series of in-depth guides to help mothers in particular situations that they may not be fully equipped to deal with, such as if your teen child were to become pregnant or impregnate another. These potential customers would likely be parents or new grand parents between the ages of 40-100. These customers also must actively use internet applications to become aware of my product as it will advertised almost entirely online. This product is for people who need support in a very tough situation in their lives, so they must all not be fully prepared or competent enough to handle a situation like teen pregnancy. I will use my ability to perform under pressure and to perform in high intensity situations to drive the success of the company.
I think these attributes match well with each other and can work harmoniously and create a better, more-successful business. What I got from the feedback is that I need to find ways to differentiate my product, and I think the route to do this is to release an innovative interactive guide that will be in-depth enough to satisfy broader needs of customers. I plan to extend this business outward with new products but this is the first product my company will attempt to sell, not necessarily the last.
Friday, March 1, 2019
16A - What's your secret sauce?
Five ways in which I believe I am different:
1) Ability to think outside the box. I am a born skeptic and that helps me stay out of the current when it comes to commonly believed thought.
2) Ability to perform in the clutch. My ability to perform under pressure and in clutch scenarios are why some of my friends say I am a "Hall of fame clutch performer".
3) Ability to learn. I learn quickly and can apply what I've learned to different situations.
4) Ability to think critically. I am good at using my different perspective to give productive feedback to groups or to work that I am analyzing.
5) Ability to lead. I believe that I am a natural leader and it happens a lot in my life that I will be chosen to lead a group.
5 Interviewees and the access links to their interviews:
carlie: https://soundcloud.com/griffin-goldstein/carlie-interview/s-qhTFk
jackson: https://soundcloud.com/griffin-goldstein/jackson-interview/s-GXpGK
travis: https://soundcloud.com/griffin-goldstein/travis/s-G7kIX
tyler: https://soundcloud.com/griffin-goldstein/tyler/s-cZfXl
tomer: https://www.youtube.com/watch?v=r9DStj63sjQ
Conclusion:
In general, a lot of the interviewees agreed with the things I said about myself. However, I was surprised by a few things that were said. For example, I was surprised by how I am thought of as someone who connects to people in the ways that were mentioned. I always thought my ability to connect with others was not a strong suit, but I guess I have been working on it and it's been paying off. I think I would revise my list and add caring for others which is something I think I have improved greatly and I also believe it is a vital skill when dealing in business. One needs passion to succeed.
1) Ability to think outside the box. I am a born skeptic and that helps me stay out of the current when it comes to commonly believed thought.
2) Ability to perform in the clutch. My ability to perform under pressure and in clutch scenarios are why some of my friends say I am a "Hall of fame clutch performer".
3) Ability to learn. I learn quickly and can apply what I've learned to different situations.
4) Ability to think critically. I am good at using my different perspective to give productive feedback to groups or to work that I am analyzing.
5) Ability to lead. I believe that I am a natural leader and it happens a lot in my life that I will be chosen to lead a group.
5 Interviewees and the access links to their interviews:
carlie: https://soundcloud.com/griffin-goldstein/carlie-interview/s-qhTFk
jackson: https://soundcloud.com/griffin-goldstein/jackson-interview/s-GXpGK
travis: https://soundcloud.com/griffin-goldstein/travis/s-G7kIX
tyler: https://soundcloud.com/griffin-goldstein/tyler/s-cZfXl
tomer: https://www.youtube.com/watch?v=r9DStj63sjQ
Conclusion:
In general, a lot of the interviewees agreed with the things I said about myself. However, I was surprised by a few things that were said. For example, I was surprised by how I am thought of as someone who connects to people in the ways that were mentioned. I always thought my ability to connect with others was not a strong suit, but I guess I have been working on it and it's been paying off. I think I would revise my list and add caring for others which is something I think I have improved greatly and I also believe it is a vital skill when dealing in business. One needs passion to succeed.
15A - Figuring Out Buyer Behavior
In this blog post, I will reconcile the information received from three interviews. These interviewees were all in the segment of mothers in Gainesville. I spoke two 3 different moms in the Gainesville area to analyze their buyer behavior because I am expecting most of the people buying my product to be moms from the age-range 40-60. Overwhelmingly, these women all preferenced money as their main factor when it comes to purchasing an item like mine. They also mentioned that it would matter how they came about the product; for instance, one would likely purchase it if it was recommended to them from but would be less likely to purchase if they saw it advertised. Also, I realized that I am more targeting a growing age of moms, as opposed to the current generation of them. This is because my product will be likely purchased online. And because the price was a heavy factor, my product will not be expensive enough to necessitate financing. There was something that two interviewees mentioned when it came to an evaluation of the product. They said that the product needs to provide information that isn't common sense, so they aren't reading it and saying to themselves "well I already know this". The other thing emphasized by the interviewees was that they all wondered how a 19-year old male college student would be able to provide credible information relating to teen pregnancy. Therefore, I have to address the issue of credibility with my product and ensure that I have qualified sources for my information.
When I first told these moms what the product my company would offer was, they almost didn't take it seriously. I think this was for two different reasons: first, they were curious about how I could have anything to tell them about this weird unprecedented situation in people's lives; and second, it came out of nowhere and they might have not thought it pertinent to their current lives.
This sample of moms from Gainesville exhibited characteristics that favored cheap pricing for an informational product that they had to read, credibility, creative solutions to difficult problems, and accessibility. As long as my product can retain all these qualities, then I should be able to market effectively to this segment.
When I first told these moms what the product my company would offer was, they almost didn't take it seriously. I think this was for two different reasons: first, they were curious about how I could have anything to tell them about this weird unprecedented situation in people's lives; and second, it came out of nowhere and they might have not thought it pertinent to their current lives.
This sample of moms from Gainesville exhibited characteristics that favored cheap pricing for an informational product that they had to read, credibility, creative solutions to difficult problems, and accessibility. As long as my product can retain all these qualities, then I should be able to market effectively to this segment.
Friday, February 22, 2019
14A - Halfway Reflection
This course has really brought the best out of me. It has forced me to be diligent with deadlines and it's one of the first courses I've connected well with. I have had to increase my organization skills to succeed in this class but even that is sometimes not enough. To get over those humps, I had to change my mindset about the course and about life in general. I believe that my perspective on life and my understanding of the difficulties some people go through day in and day out are the two things that have gotten me this far in this class. I think if people can first, develop this mindset; second, understand that there is worse you can be doing than learning; and third, I would tell the future students to go into this class with a specific idea they want to actually investigate as opposed to just picking one for the sake of it. I am sure a lot of people in this class did that and now regret it.
13A Reading Reflection
David McCullough can be considered one of my favorite authors of all time, especially after reading his Wright Brothers biography. Wilbur and Orville successes were of course because of their individual prowess, engineering capability, and unending curiosity; however, what surprised me about these two entrepreneurs was their ability to work together and breakthrough conflict. These are two traits I feel will be imperative to my own success. I would ask these men to mentor me as there's not enough to learn in two questions compared to as many as I have for them. If I did have to choose two, I would ask them to analyze my life and tell me where I can be better (with respect to entrepreneurship), and I would also ask them what their ambitions were to see if their ambitions were related to their business/engineering goals or if they were working towards a life external to their work. It's because of this that I would believe their opinion of hard work would be relatively convoluted. For instance, they had such a love for what they were doing WHILE they were doing it that I don't think they would consider what they did hard work. I believe the hardest work is that of which you have to do and yet you do not want to. Their drive to succeed is what set them apart from other entrepreneurs and believers alike, and I wish I could find a passion similar to that of Wilbur and Orville so I could exert the same drive towards a singular goal.
Friday, February 15, 2019
12A - Figuring Out Buyer Behavior
The segment of people that would likely have the highest affinity for my potential product would be parents or grandparents that have children who have become pregnant (or impregnated another) before the age of 21.
Interviewee 1 (Relative, preferred that name not be disclosed when I told her what this was for):
This interviewee is someone who has experienced both ends of the spectrum with respect to early pregnancy (or what may be considered early in today's society): she had a kid at age 20 and then that kid had her kid at age 20 as well. So she has experienced this both as an young parent and as a 40 year old grandmother. When I spoke to her about my potential product, she had a few concerns. First, she wondered how I could build enough credibility to make my product respectable enough to purchase. And second, she mentioned how it could help people going through these situations; however, people are becoming more and more distant from reading and she thinks it would be difficult to find enough people who will actually take the time out of there day to read anything anymore.
Interviewee 2 (Elizabeth Conerly): This interviewee is a 75 year old great grandmother whose grandchild just had her first kids at the age of 19. She spoke about how this was hard on the family both financially and with respect to the relationships. With respect to my potential product, however, she says that the information contained may be useful. She also said though that people may not be inclined to take advice from a guide that may not have pertinent information to their specific situation. I explained how it would be very specific for people in a very specific situation, and she said that it just can't possibly account for all the intricacies of a certain family. I understand what she is saying, but I just see this as a buyer perspective that would make people less inclined to buy the product.
Interviewee 3 (JJ Ledbetter): JJ has two kids at ages 9 and 11. He had his first child when he was 22 and his ex-wife was 20. He talked about how it created a rift between him and his family who thought less of him for having children so early in life. He believes that my potential product could have saved their relationship during that time if they better understood the difficulties relating to these types of situations. However, similar to other interviewees, he was not a fan of the form in which my product was offered.
These interviews with people who have gone through the targeted experiences have taken away some confidence that my product will be successful, even with proper marketing. I will have to reconsider the form of my product and if it can it is even still viable.
Interviewee 1 (Relative, preferred that name not be disclosed when I told her what this was for):
This interviewee is someone who has experienced both ends of the spectrum with respect to early pregnancy (or what may be considered early in today's society): she had a kid at age 20 and then that kid had her kid at age 20 as well. So she has experienced this both as an young parent and as a 40 year old grandmother. When I spoke to her about my potential product, she had a few concerns. First, she wondered how I could build enough credibility to make my product respectable enough to purchase. And second, she mentioned how it could help people going through these situations; however, people are becoming more and more distant from reading and she thinks it would be difficult to find enough people who will actually take the time out of there day to read anything anymore.
Interviewee 2 (Elizabeth Conerly): This interviewee is a 75 year old great grandmother whose grandchild just had her first kids at the age of 19. She spoke about how this was hard on the family both financially and with respect to the relationships. With respect to my potential product, however, she says that the information contained may be useful. She also said though that people may not be inclined to take advice from a guide that may not have pertinent information to their specific situation. I explained how it would be very specific for people in a very specific situation, and she said that it just can't possibly account for all the intricacies of a certain family. I understand what she is saying, but I just see this as a buyer perspective that would make people less inclined to buy the product.
Interviewee 3 (JJ Ledbetter): JJ has two kids at ages 9 and 11. He had his first child when he was 22 and his ex-wife was 20. He talked about how it created a rift between him and his family who thought less of him for having children so early in life. He believes that my potential product could have saved their relationship during that time if they better understood the difficulties relating to these types of situations. However, similar to other interviewees, he was not a fan of the form in which my product was offered.
These interviews with people who have gone through the targeted experiences have taken away some confidence that my product will be successful, even with proper marketing. I will have to reconsider the form of my product and if it can it is even still viable.
11A - Idea Napkin
1) My name is Griffin. I was a math tutor at my old school which changed my perspective on life. I tutored many people from 14 year old high school students to 90 year old war veterans. I met people from all walks of life and it gave me a perspective into where I might want to be at those different times in life. I believe that entrepreneurship may be the key to reaching those points. I don't think selling a guide to help with family struggles related to teen pregnancy is my best problem-solving idea, but it could work.
2) This product will serve as a guide to helping people through an unprecedented time in their life. Through research and knowledge from experts, my guide can serve as THE guide to how to help you and your family through that difficult time.
3) This product would be offered to the parents whose children have just become pregnant with their grandchild.
4) In times like this one, sometimes it can feel as if you have no options or no way out. However, this guide can serve as answers when they are needed most.
5) What I feel sets my apart is my perspective on life and my ability to think critically/outside the box. I do not feel contained within the mental society that I feel envelops much of the population.
I think the idea and its potential is not phenomenal because of the way society is today. However, I feel that the combination of these elements and the idea can bring about something unprecedented and different to any competing products.
2) This product will serve as a guide to helping people through an unprecedented time in their life. Through research and knowledge from experts, my guide can serve as THE guide to how to help you and your family through that difficult time.
3) This product would be offered to the parents whose children have just become pregnant with their grandchild.
4) In times like this one, sometimes it can feel as if you have no options or no way out. However, this guide can serve as answers when they are needed most.
5) What I feel sets my apart is my perspective on life and my ability to think critically/outside the box. I do not feel contained within the mental society that I feel envelops much of the population.
I think the idea and its potential is not phenomenal because of the way society is today. However, I feel that the combination of these elements and the idea can bring about something unprecedented and different to any competing products.
Friday, February 1, 2019
8a- Solving the problems
Because of the awkward situation that a parent is put in when their child becomes unexpectedly pregnant (or impregnated another), I think a great solution would be a quick, readable guide that helps these parents not only cope with the situation but also helps them guide their children in the right direction, wherever that might be. This guide could be organized sort of like a decision tree, "if you want abortion read this, if you don't read this" etc. Hopefully, the guide could serve as comfort in this unknown situation of theirs. To accomplish this, I would have to do research with parents who have already gone through this and how they handled it. Also, if we gain enough traction, we may be able to do something like personal situation analyses for more complicated situations that we could use our expertise to help solve their individual problems. Therefore, we could be a business that operates on two fronts: selling guides and information as well as servicing our customer base for their specific needs.
7a - Testing The Hypothesis - Teen Pregnancy
There is a huge problem in the United States and across the world where people are having children without having the ability to support them. This is most likely due to the fact that the parents are too young, possibly young enough to be considered children themselves. While there are no direct solutions to solving the world's problem of early pregnancy, there are ways that can make it easier for the new parents and the grandparents to cope with the situation. A potential way to help this issue is a guide written for parents whose children become pregnant early. This could help give them a better understanding of an unprecedented situation that they have come by. This guide may include how to talk to the teen/potential parent about their options, as that may be extremely difficult in that time. I spoke to 5 different people about this subject and the findings were quite interesting, and they changed the way I thought about this opportunity. One unexpected result was that they all talked about the idea of abortion and how it relates to the guide. One interviewee even said the guide can be titled, "how to convince your pregnant child to have an abortion." While this may be a little extreme, it showed me that there is an opportunity to sell information to parents in this desperate time. Another interviewee mentioned how relatively small a 20$ investment is compared to having to support a child that's not even yours. Because of these interviews, I realized that I may be more successful if I am more direct in my targeting strategy.
Friday, January 25, 2019
6A - Identifying Opportunities in Economic and Regulatory Trends
Opportunity #1, Economical
My cousin explained the recent blow up of investing in bitcoin and other cryptocurrencies and how it has changed the way people think about money. Now, these electronic currencies can help make purchases online while keeping them relatively anonymous. Because of this, I think there is an opportunity to educate the world about this fast-growing way of exchanging goods or services. I would start a youtube channel to teach others (especially young people) about this as it will be a significant part of everyday life in within the next 20 years. I think this opportunity may be quite difficult to exploit as our content would have to be different and better than the content already out there. I saw this opportunity because of my natural desire to search for ways to make more money.
Opportunity #2, Economical
Everyone is wondering about what's the next big stock to invest in or what money markets people should put their money in to watch it grow. According to the presenter at the last student investment club meeting, in the last 50 years, there has proven to be only one consistent money maker and that is the market itself. I believe that there is an opportunity to invest in the market itself (possibly the S&P 500, or the DOW) for long term growth. I think anyone can exploit this truth relatively easily. Also, I believe I saw this opportunity because of my ability to think outside the box and explore things that others may have not.
Opportunity #3, Regulatory
All over snapchat and the TV is the recent news of weed legalization spreading throughout the states. Along with the legalization of a widely used comes significant business opportunity. I believe people with enough capital can join and exploit this by setting the foundation for their businesses before the legalization becomes federal. I also believe that this will be a relatively easy regulatory change to exploit as the demand is as wide-spread as alcohol, and yet the legal supply is null. I saw this opportunity because of the word of my friends in desiring easier access to their respective choice of inebriation, whether it be alcohol or marijuana, they wish it was easier and cheaper to come by.
Opportunity #4, Regulatory
The news is currently talking about the government shutdown and why it's occurring. It is over the building of the wall between the United States and Mexico. I think an opportunity exists along this wall to capitalize on the movement of people towards the border as there will need to be people there to build it. The wall also opens the opportunity of placing restaurants or other places of business near the entry and exit points of the wall wherever they might need them. The wall will change the flow of traffic into and out of the US and therefore will change the locations in which businesses are required. If I were the owner of a chain operation or something of the sort, I would look for opportunities to expand my business to places that will see more activity because of the wall. However, I think this is a relatively difficult thing to exploit as a lot of capital and experience is required to make a move on this. I think I saw this opportunity because of my natural way of thinking about how changes change the things around them as opposed to the change itself.
My cousin explained the recent blow up of investing in bitcoin and other cryptocurrencies and how it has changed the way people think about money. Now, these electronic currencies can help make purchases online while keeping them relatively anonymous. Because of this, I think there is an opportunity to educate the world about this fast-growing way of exchanging goods or services. I would start a youtube channel to teach others (especially young people) about this as it will be a significant part of everyday life in within the next 20 years. I think this opportunity may be quite difficult to exploit as our content would have to be different and better than the content already out there. I saw this opportunity because of my natural desire to search for ways to make more money.
Opportunity #2, Economical
Everyone is wondering about what's the next big stock to invest in or what money markets people should put their money in to watch it grow. According to the presenter at the last student investment club meeting, in the last 50 years, there has proven to be only one consistent money maker and that is the market itself. I believe that there is an opportunity to invest in the market itself (possibly the S&P 500, or the DOW) for long term growth. I think anyone can exploit this truth relatively easily. Also, I believe I saw this opportunity because of my ability to think outside the box and explore things that others may have not.
Opportunity #3, Regulatory
All over snapchat and the TV is the recent news of weed legalization spreading throughout the states. Along with the legalization of a widely used comes significant business opportunity. I believe people with enough capital can join and exploit this by setting the foundation for their businesses before the legalization becomes federal. I also believe that this will be a relatively easy regulatory change to exploit as the demand is as wide-spread as alcohol, and yet the legal supply is null. I saw this opportunity because of the word of my friends in desiring easier access to their respective choice of inebriation, whether it be alcohol or marijuana, they wish it was easier and cheaper to come by.
Opportunity #4, Regulatory
The news is currently talking about the government shutdown and why it's occurring. It is over the building of the wall between the United States and Mexico. I think an opportunity exists along this wall to capitalize on the movement of people towards the border as there will need to be people there to build it. The wall also opens the opportunity of placing restaurants or other places of business near the entry and exit points of the wall wherever they might need them. The wall will change the flow of traffic into and out of the US and therefore will change the locations in which businesses are required. If I were the owner of a chain operation or something of the sort, I would look for opportunities to expand my business to places that will see more activity because of the wall. However, I think this is a relatively difficult thing to exploit as a lot of capital and experience is required to make a move on this. I think I saw this opportunity because of my natural way of thinking about how changes change the things around them as opposed to the change itself.
Identifying Local Opportunities 5A
Source Newspaper: The Palm Beach Post
Opportunity #1:
Title of Article: FPL Stunned by 2.3M Tax Bill from Puerto Rico
Article Link: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=154846148682703364107690035638
What Happened: After the recent devastation in from a Hurricane, a majority of Puerto Rico was left without power. So, FPL sent some of its resources to help restore power. However, after donating their services, the city of Bayamon sent a 2.3 million dollar tax bill to FPL.
Problem in Story: The Puerto Rican government said thank you to FPL by taxing them 2.3 million dollars. The response from FPL was basically like, "are you serious?" An opportunity for FPL to help their American community was founded when the hurricane struck, and they acted. However, they were thanked with a massive bill despite the expenses they incurred on their own.
Who has the problem: FPL is more than capable of paying this 2.3 million bill, despite their unwillingness to do so. This is understandable as the Puerto Rican government was out of line in their billing. Now I would say the problem lies with the Puerto Rican Government as they now either have to revoke the bill or suffer the negative societal consequences of seeing this out for the sake of money.
Opportunity: #2
Title of Article: FPL Crews Deploy to Puerto Rico to Help Speed Restoration Effects
Article Link: https://global-factiva-com.lp.hscl.ufl.edu/ga/default.aspx?imt=2
What Happened: This story gives more clarity to the story spoken about previously. Puerto Rico suffered a major hurricane that devastated their country, so FPL went out of their way during the holiday season to help restore electricity to the country.
Problem in Story: Puerto Rico people were left helpless after hurricane and support was delivered through the good will of other Americans.
Who has the problem: Puerto Rico had a simple need that was severely unsatisfied: electricity. Just as a good business would operate to fulfill that unsatisfied need for the sake of profit, FPL did it for the sake of good will, attempting to be the solution to Puerto Rico's problems.
Opportunity #3
Title of Article: FPL buys 10m tract for Solar PLant
Link to article: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=154846148682703364107690035638
What Happened: FPL was unsatisfied with delivering non-renewable energy, so they are making large steps to combat that issue by purchasing the first parts of their new solar plant.
Problem in story: Non-renewable energy sources exist as one of the biggest hinderances in life today. We always need to burn more and more gas to fuel our world that it is negatively impacting the Earth as a planet.
Who has the problem: The problem exists today for all people of Earth. FPL is a company, however, in a strong position to do something about it, unlike 99% of society. So, they are taking steps to help us with a worldwide issue.
Opportunity #4
Title of Article: FAU cancels graduation over threat
Link to article: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=1548463456852008233314974988692
What Happened: A sticky note was found in a women's bathroom on campus that threatened the safety of the people at the upcoming graduation ceremony, so the FAU president was forced to cancel the event.
Problem in Story: A credible threat was made against the FAU graduation ceremony, so the President of the college was forced to decide on whether or not to cancel the event or to let it run and risk the safety of the people.
Who has the problem: I believe that the problem was the President's primarily because he was the one who had to make the decision as to whether or not the risk is worth it.
Opportunity #5
Title of Article: Champion Gender Equality, social decency with action
Link to article: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=1548463456852008233314974988692
What happened: FAU falsely reported numbers to the government to hide the fact that they are simply not a gender equality school. It showed that women receive almost no scholarship money.
Problem in story: FAU unethically falsified data to hide another unethical action. This tarnishes the schools reputation; however, they are given an opportunity to remedy the situation after receiving a slap on the wrist from the government.
Who has the problem: FAU is now working to restore their crappy reputation, despite the expectation of many that they will never do so. This is not the first time FAU has chosen money over principle and it likely wont be the last.
Opportunity #1:
Title of Article: FPL Stunned by 2.3M Tax Bill from Puerto Rico
Article Link: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=154846148682703364107690035638
What Happened: After the recent devastation in from a Hurricane, a majority of Puerto Rico was left without power. So, FPL sent some of its resources to help restore power. However, after donating their services, the city of Bayamon sent a 2.3 million dollar tax bill to FPL.
Problem in Story: The Puerto Rican government said thank you to FPL by taxing them 2.3 million dollars. The response from FPL was basically like, "are you serious?" An opportunity for FPL to help their American community was founded when the hurricane struck, and they acted. However, they were thanked with a massive bill despite the expenses they incurred on their own.
Who has the problem: FPL is more than capable of paying this 2.3 million bill, despite their unwillingness to do so. This is understandable as the Puerto Rican government was out of line in their billing. Now I would say the problem lies with the Puerto Rican Government as they now either have to revoke the bill or suffer the negative societal consequences of seeing this out for the sake of money.
Opportunity: #2
Title of Article: FPL Crews Deploy to Puerto Rico to Help Speed Restoration Effects
Article Link: https://global-factiva-com.lp.hscl.ufl.edu/ga/default.aspx?imt=2
What Happened: This story gives more clarity to the story spoken about previously. Puerto Rico suffered a major hurricane that devastated their country, so FPL went out of their way during the holiday season to help restore electricity to the country.
Problem in Story: Puerto Rico people were left helpless after hurricane and support was delivered through the good will of other Americans.
Who has the problem: Puerto Rico had a simple need that was severely unsatisfied: electricity. Just as a good business would operate to fulfill that unsatisfied need for the sake of profit, FPL did it for the sake of good will, attempting to be the solution to Puerto Rico's problems.
Opportunity #3
Title of Article: FPL buys 10m tract for Solar PLant
Link to article: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=154846148682703364107690035638
What Happened: FPL was unsatisfied with delivering non-renewable energy, so they are making large steps to combat that issue by purchasing the first parts of their new solar plant.
Problem in story: Non-renewable energy sources exist as one of the biggest hinderances in life today. We always need to burn more and more gas to fuel our world that it is negatively impacting the Earth as a planet.
Who has the problem: The problem exists today for all people of Earth. FPL is a company, however, in a strong position to do something about it, unlike 99% of society. So, they are taking steps to help us with a worldwide issue.
Opportunity #4
Title of Article: FAU cancels graduation over threat
Link to article: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=1548463456852008233314974988692
What Happened: A sticky note was found in a women's bathroom on campus that threatened the safety of the people at the upcoming graduation ceremony, so the FAU president was forced to cancel the event.
Problem in Story: A credible threat was made against the FAU graduation ceremony, so the President of the college was forced to decide on whether or not to cancel the event or to let it run and risk the safety of the people.
Who has the problem: I believe that the problem was the President's primarily because he was the one who had to make the decision as to whether or not the risk is worth it.
Opportunity #5
Title of Article: Champion Gender Equality, social decency with action
Link to article: https://global-factiva-com.lp.hscl.ufl.edu/ha/default.aspx#./!?&_suid=1548463456852008233314974988692
What happened: FAU falsely reported numbers to the government to hide the fact that they are simply not a gender equality school. It showed that women receive almost no scholarship money.
Problem in story: FAU unethically falsified data to hide another unethical action. This tarnishes the schools reputation; however, they are given an opportunity to remedy the situation after receiving a slap on the wrist from the government.
Who has the problem: FAU is now working to restore their crappy reputation, despite the expectation of many that they will never do so. This is not the first time FAU has chosen money over principle and it likely wont be the last.
Friday, January 18, 2019
Forming an Opportunity Belief: A Twist on Opportunity Identification
In-person shopping seems ultimately inferior to online shopping because of inventory capacities.
The need is to have what you want. All people have shared this need to get the things they want in life, it's natural to be driven and motivated, even if it comes to shopping. People are now accessing a broader inventory of things on the internet so that they can more accurately satisfy their respective needs. This human adaptation 100% exists.
For this assignment and ease of completion, I will be interviewing 3 of my 4 roommates on this topic:
The need is to have what you want. All people have shared this need to get the things they want in life, it's natural to be driven and motivated, even if it comes to shopping. People are now accessing a broader inventory of things on the internet so that they can more accurately satisfy their respective needs. This human adaptation 100% exists.
For this assignment and ease of completion, I will be interviewing 3 of my 4 roommates on this topic:
- Interviewee - Tomer Levi
- Tomer believes that the exact nature of this belief comes down to natural greediness of the individual, stating simply, "people are selfish". He believes that people are aware of this need since "they are still nursing their mothers". Tomer thinks this is an example of an early desire to get what you want where you want it. Tomer believes that people address their need of having things not by acquiring items but by working and studying to make the money to buy those things. Tomer thinks people are satisfied with the online shopping solution to this desire despite the current inaccuracies associated with online clothes shopping.
- I learned that this desire is innate to human society and the drive to satisfy it will continue to exist and just change over time. I thought it was surprising that he believes money itself is a form of satisfying a need.
- Interviewee - Jackson Campbell
- Jackson thinks that people have always wanted to buy whatever they want from a limitless inventory. He says that hasn't been possible until the internet. Jackson thinks that people have had the need to buy lavish items since medieval times, and that people have always been aware of their need to have better things. But he retracted that statement as he believes we only started wanting better things after we overcame the struggle to survive. Jackson thinks that online shopping is an OK solution to the problem but it's not perfect and has flaws such as delivery times.
- I agree with what Jackson said and it describes the basis of where this problem came from in my head as well. However, he also reminded me how comfortable our lives actually are relative to how it was thousands of years ago.
- Interviewee - Filip G.
- Filip believes that the desire to have things and get exactly what you want actually comes from how you are raised. He thinks it all depends on the parents and children are sometimes not aware of their greed or selfishness until later in life, if ever. Parents are expected to give everything to children so that they can flourish, but this is sometimes taken too far and people can become spoiled. This is what drove them to create the internet and quick delivery, so that they could have, have, and have! People can now get whatever they want over the internet, from drugs to guns, so yeah the needs are well met.
- I learned that people can actually buy whatever they want over the internet. It's hard to realize the scope of it until someone reminds you.
I now believe this opportunity can be executed on better than current internet retailers do.
No, because it went from 100% to 100%.
I think customer feedback should be significantly considered in creating and adapting, as they are the most important aspect of keeping your business going. However, it is also important to not lose sight of the long run and what you believe will truly satisfy the customers.
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