22A - Elevator Pitch 3

Elevator Pitch 3

1) https://www.youtube.com/watch?v=4O3O2oD2BK4

2) The feedback I received this time was mainly positive. As such, I simply just practiced what I had done and executed the pitch.

3) I honestly rerecorded what I had originally and changed the wording a little bit. Nothing major.

21A - Reading Reflection No. 2

21A - Reading Reflection No. 2

1) The general theme of Cognitive Surplus by Clay Shirky was that there's a certain way people utilize new technology when it comes their way. Also, Shirky covers how the population was treated by the media before and after the social media revolution. Finally, he covers how when money is an incentive it often doesn't lead to a good place.

2) The book was very helpful at analyzing behaviors. This book uses a lot of motivation theory from the field of Psychology, where people's thoughts and actions play a role in figuring out the behavior or people. As such, the book sort of quantified people down to organisms when trying to understand them. This can help with trying to understand the customer and buyer behaviors, a key topic in ENT3003. 

3) The exercise from this book would be mimicking Edward Deci's motivation experiment. Where he had two groups solving a puzzle, one paid and one unpaid, and studied their motivation to complete the puzzle during a "break session." You could attempt this experiment, but when hiring employees to see who would have a good work ethic or be motivated. 

4)My biggest surprise moment was when reading about the Deci experiment, and how money played a role, it truly didn't help out much. Furthermore, Shirky brought up data where the Norwegian government was looking to see public approval for a plant near a town, when offering money, the approval rating dropped. These scenarios show that sometimes, money isn't the endgame. In a society where materials and surplus seem desirable, it often won't lead anywhere truly incredible. 

20A - Growing Your Social Capital

20A - Growing Your Social Capital

Domain Expert:

1. Who are they and what is their background: Deena, a worker of New Life Workforce Housing, of Catholic Charities of the Archdiocese of Miami, Inc.
2. How is this person a "Domain Expert": This person is a domain expert because her company is currently working on a project identical to my idea in Key West. Where they are currently making housing for homeless people.
3. How I found and contacted this person: I found this person through their website and contacted them via email.
4. Nature of Exchange: What they did for me, what is the return expectation: I spoke about my intentions through this entrepreneurship course, and discussed how they get funding, and how they decide upon people in need. 
5. How will including them enhance my ability and exploit my opportunity: Including them in my project will help me receive insight from someone who already knows the ropes of this domain. That way I am getting into this with some reference.

Market Expert:

1. Who are they and what is their background: Ricky, my mom's friend, has been a commercial and residential real estate appraiser for over 20 years. 
2. How is this person a "Market Expert": She knows the market of Key West properties better than most, so I spoke with her about the feasibility of this project from a financial standpoint.
3. How I found and contacted this person: I called her. 
4. Nature of Exchange: What they did for me, what is the return expectation: I asked her about the costs of something like my project. As well as how I could obtain funding for such a project.
5. How will including them enhance my ability and exploit my opportunity: Having her involved can help me determine what I should be paying for when investing into this project. Knowing the cost of the land, plumbing, construction, materials, and much more is a necessary key for building the firm.

Industry Supplier:

1. Who are they and what is their background: Corey, works for a construction firm in Key West, Florida.
2. How is this person a "Industry Supplier": He's worked with this form for a few years and knows about what it costs/ takes for buildings to be built in Key West through regulations, costs, and other factors. 
3. How I found and contacted this person: I contacted him on the phone.
4. Nature of Exchange: What they did for me, what is the return expectation: I spoke with him about why it's so expensive and time consuming to get things done in Key West, especially when funded by the state. 
5. How will including them enhance my ability and exploit my opportunity: Including Corey will allow me to see what I am dealing with fund-wise. So I can overcome my first hurdle when starting this firm.

Reflection: This assignment was pretty tough because it is very hard to find people who fit these specific needs. But after networking it can be done. It's very impressive to see how useful and beneficial your social capital can really be. Knowing the "right guy" can really get you quite far. I will definitely pay a little more attention to people when talking about themselves in case I were to dive into their field in an entrepreneurial manner. 

19A - Idea Napkin No. 2

19A - Idea Napkin No. 2

Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

• My name is Zach Wilson. I am a freshman at UF and I'm a Finance major who's not quite sure what they want to pursue. I play 4 instruments, love music, and love working on my car. I know how to use many programs and can work well in groups. My business is my opportunity to be a leader and a role model. Being the oldest sibling, my entire life I have managed to be a good role model to my younger brother. In this same way, I hope to be a role model to the homeless people that I assist.

What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

• I am offering to customers a chance to restart. A chance at the game of life to begin and get back on one's feet. For those in need, they will be granted housing, sanitation, and food in return for labor and volunteer work. These people will get a chance to restart their lives no matter how down and out. As entrepreneurs, we know that one opportunity is a priceless thing, so why not sell that?

Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

• I am offering this product to people who cannot afford to live in Key West. Some may have lost to unemployment cycles, or they may have mental health issues that stop them from working. A multitude of reasons can turn a person homeless. However, all/most of them are unemployed, making no income, with no substantial net worth. These people will be given another chance.

•  Also, this product can be sold to local governments of cities who also would like to help the homeless in their respective locations. The product can be uniquely designed for any city. This project can be funded by legislation, or by donations via a charity.  

Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

• I'd like to think that homeless people in desperate need would want to be helped and would feel obliged to do the volunteer work as an incentive for living in the housing. However, if they would not like to comply then someone else can take that opportunity to be helped. Considering that the homeless people do not pay for this product, someone else is. Hopefully, the taxpayer's dollar will be used to fund this program, or someone feeling rather philanthropic will assist in the matter. Again, this project will by no means be a cheap one, it's simply an act of grace rather than a profit driven firm.

What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

• My core competencies consist of giving the homeless people housing, whilst giving them a more unique/personal experience when they live in an individual home rather than a giant facility. Furthermore, the homeless can personalize and decorate their houses to individuate themselves even more. This small change will help readjust them to society knowing they have some kind of home. Rather than this being a bland government program, it will be a passion-driven experience in pursuit of bringing people a better life.

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

• I believe that in concept my business is a good, wholehearted idea. However, when looking at the expenses, it is a costly feat. My parents have run an appraisal company in Key West for the last 20+ years, when I told them my plan they said it was "ultimately unfeasible in Key West." Due to the high costs of land, materials, service, etc, this project would need a philanthropic Venture Capitalist to take off with no real hope for getting one's money back.

Feedback Memo: 

1. In this section, I talked about what makes me unique, through my passions and strengths. Having many interests and talents, I always feel confident when tackling something new.
2. I am still offering it the same people, homeless people in need. The idea of selling an opportunity is the motive, and they need it. Also, I added that the public could donate as a form of charity, simply because the return on investment will be low and the firm will need as much subsidized funding, and donations as necessary.
3. Same why, we'd like to hope that the helpless homeless people would want a second chance at life. If they work for the firm, they will have the amenities of living at the firm.
4. Ultimately it's the same product. The product isn't the problem, it's finding the funding.
5. My core competencies are the same. The feedback I received was primarily positive with no room for adjustment.

18A - Create a Customer Avatar

18A - Create a Customer Avatar

My business is all about helping homeless people get back on their feet. However, it isn't possible without investors attributing to it's completion. In this case, I will focus on investors. The investors could look like just about anyone. They could be you or me, donating a small amount, they could be angel investors giving away thousands, or they could be the government giving funding. 

I will focus on the small donation side, as it's the largest and most feasible of the options. Someone giving small donations could be a college student looking to help their society. Being full of knowledge from multiple subjects, these people know how much it would mean for homeless people to have a second chance to contribute to society. These people could be wealthy or poor, and still know the value of opportunity. They're probably thankful for what they have, leading to them wanting to help others. These people could be of any age, they just have to have empathy for those in need, and a desire to help.

What do you have in common with the avatar?

The avatar and I both understand how hard life must be whilst homeless. We know that these people deserve a second chance to turn their lives around, and in the right scenario, can bounce back. The avatar and I understand how much an opportunity can do for someone. I see this as no coincidence. I believe that seeing the opportunity is just what a true entrepreneur feels.

17A - Elevator Pitch No. 2

17A - Elevator Pitch No. 2

1)  https://www.youtube.com/watch?v=IDnyqMTNazk

2)What stood out to me is that everyone agreed that my pitch was good. They thought the presentation, use of data, and idea was quality. However, there was one comment to mention that this entrepreneurial opportunity is more of a philanthropic jab rather than a profit churning corporation. So I made sure to mention this. I also added some graphics on a board to add to the presentation.

3) I added in that this opportunity is solely to help those in need, rather than to make mass amounts of profit. Also, I added graphics on a dry erase board to show a rough blueprint of what the houses will look like, as well as the data being presented forth.