1. The idea of micro finances in general really surprised me. My grandmother grew up in a poor area and I really think this idea could have helped her.
2. The reading was really straight forward.
3. What happens if someone couldn't pay the loan? Do you have a way to check their credit?
4. I don't think she was wrong about anything.
Sunday, April 24, 2016
Final Reflection
1. This semester went by extremely fast! This was my second semester here at UF and it definitely went by quicker than the first. I was more involved with things such as, E-Club, working out, and working at the dealership more often. This class has it high and lows throughout the semester. I remember a couple times I missed assignments because of the infamous 9 P.M assignments due time and dreading to go out and record people for my assignments. Looking back I think this class has really helped me here at UF. The 9P.M due time has made me take care of some assignments early and better my time mangement. The assignments have all helped me in some way. Interviewing customers and other people taught me how to get public opinion on ideas. I find myself asking random people what they think of my business idea I just came up with. Looking for opportunities comes a lot easier to me now because my entrepreneur mindset has really developed in this class.
2.The hardest assignments this year has to be the Venture Concept because it required me to really scope into my venture and plan it out as if I was opening this business in the upcoming future. The experience I will remember a couple years from now is probably interviewing customers. Some moments were funny, awkward, and enjoyable.
3. My entrepreneur mindset seed has definitely been planted this semester! Everyday I think of something that has to do with entrepreneurship. I always seek to find a solution to a problem by creating an idea or asking others if they think my idea will work. This class has 100% facilitated my entrepreneur mindset by the assignments we had to do.
4. Some recommendations I have for students taking this course next are to be diligent when performing these assignments because they can get overwhelming when your always behind and doing everything last minute. Spacing your time with the harder assignments makes the class a lot less stressful. To develop a entrepreneur mindset you have to be very open minded. Stick to an idea if you think its really good but be open to improvements or even trashing your idea entirely. This will leave room for a new idea to blossom because failure is going to happen you just have to handle it properly and learn from it.
2.The hardest assignments this year has to be the Venture Concept because it required me to really scope into my venture and plan it out as if I was opening this business in the upcoming future. The experience I will remember a couple years from now is probably interviewing customers. Some moments were funny, awkward, and enjoyable.
3. My entrepreneur mindset seed has definitely been planted this semester! Everyday I think of something that has to do with entrepreneurship. I always seek to find a solution to a problem by creating an idea or asking others if they think my idea will work. This class has 100% facilitated my entrepreneur mindset by the assignments we had to do.
4. Some recommendations I have for students taking this course next are to be diligent when performing these assignments because they can get overwhelming when your always behind and doing everything last minute. Spacing your time with the harder assignments makes the class a lot less stressful. To develop a entrepreneur mindset you have to be very open minded. Stick to an idea if you think its really good but be open to improvements or even trashing your idea entirely. This will leave room for a new idea to blossom because failure is going to happen you just have to handle it properly and learn from it.
Wednesday, April 20, 2016
Tuesday, April 19, 2016
Venture Concept No.2
Opportunity: On
this venture concept I have once again changed my idea! I have decided to hold
off on the idea of renewable energy by using motion in the gym because the idea
is simply too expensive and isn’t feasible at the moment for me. However,
recently I have new inspiration to start a business on amazon through FBA. You
know how you buy products on using amazon prime? Well I will be the supplier of
some of those products! This idea came up during an entrepreneurship club
meeting and one of the speakers spoke on this topic. I find this to be a great opportunity
because of the low start up cost for me and the large margins I can make
because of the cheap product. Some forces that have allowed this opportunity to
come about is amazon. Amazon allows suppliers to send their products to the
shipping factories at amazon. When a customer purchases the product they ship
it out for you and handle everything else. This makes it easy for both parties
to buy and sell. Another key to the opportunity is the supplies; which are
coming from china. Finally, the last aspect of this opportunity is the consumer.
In recent years, more people are purchasing online and less in the stores.
Every year the deals get better attracting more and more people. With a
combination of cheap prices and fast shipping this trend isn’t going away
anytime soon.
Innovation: As
of right now, I have no innovated anything for my business venture because I
intend on entering a market that already exist with less competition. Selling
on Amazon is all about quality control so I might innovate an existing product
with better materials.
Venture Concept:
Now I will explain the process on how my venture works. First, I will research products
I can buy in China and possibly tweak it to my own liking (in the process).
After, I find a product that I want to produce I will contact the company in
China and discuss the prices and hopefully speak with someone of higher
position to ensure I am getting what I paid for. The next step is to receive the
product and making sure everything is ready to ship out to amazon. Once it
ships to amazon it is a waiting game as the products slowly start selling.
After a customer purchases the product I will follow up with an email seeing if
they have any problems and if they would rate my product. Ratings are important
because it makes the product seem more reliable to customers and makes the feel
safer about purchasing the product. After the product starts to sell better and
I have more revenue I will begin with the second and third product line. To
keep up with production I will outsource my employees so while I am busy they
can handle my emails and place orders for the business. My end goal is to make
a business that can stand on its own away from Amazon.
Minor Elements
The most
important resource for this venture is the supplies. The quality must be on par
with other products or in some case better to attract and keep customers.
In five years, I
see myself in the same industry. I want to keep producing products and weaning
myself away from amazon into my own company.
This venture concept is completely different from my last concept. On this venture concept I have once again changed my idea! I have decided to hold off on the idea of renewable energy by using motion in the gym because the idea is simply too expensive and isn’t feasible at the moment for me.
I did not use the feedback from my last venture concept.
Sunday, April 17, 2016
Week 14 Reading Reflection
1. I was surprised to see the many different divisions of entrepreneurship all over the world from the corporate side to the individual level. It really excites me the levels I can enter.
2. The reading was really straight forward so there was nothing that confused me.
3. How can you get a position for corporate innovation? What is the biggest division of entrepreneurship?
4. I didn't find anything wrong with the chapters because it was well written.
2. The reading was really straight forward so there was nothing that confused me.
3. How can you get a position for corporate innovation? What is the biggest division of entrepreneurship?
4. I didn't find anything wrong with the chapters because it was well written.
Google for Gold
1. I didn't pursue SEO with my blog post.
2. The key words I used in my blogs were the weekly labels.
3. I didn't make much effort to promote my blog in social media. I tried using twitter and sharing a link to my blog but I didn't get much attention.
4. My most viral blog post would have to be Customer Interviews No.3 because it got the most views (15). I think it was my most popular because 4 people had to comment on it and I commented on 4 other post with a link to my blog post. Additionally, it had 4 youtube videos on it and that might've brought some attention as well.
5. Yes, I was on the first page on my google search!
2. The key words I used in my blogs were the weekly labels.
3. I didn't make much effort to promote my blog in social media. I tried using twitter and sharing a link to my blog but I didn't get much attention.
4. My most viral blog post would have to be Customer Interviews No.3 because it got the most views (15). I think it was my most popular because 4 people had to comment on it and I commented on 4 other post with a link to my blog post. Additionally, it had 4 youtube videos on it and that might've brought some attention as well.
5. Yes, I was on the first page on my google search!
Tuesday, April 12, 2016
Very Short Interview No.2
1. From where I stand now I think I picked good questions for the interview. I asked how he started the company, why he did, and how did he scale it.
2. Interview:
Question 1: When did your start up began to make money? Mobile Phone Geeks started making money right away because we were a service business for consumers and all we had to do was order parts and from there the money started coming in.
Question 2: What other services so you offer now that you didn't before? In the beginning we stuck to fixing iPhones and other phone's screen. Then we transition to more phones. Finally, we began to do it all in the phone industry; we bought and sold phones, sold cases, and did orders through the internet.
Question 3: How long do you plan on staying in the industry? I plan on staying as long as business is good. I believe the smart phone industry will stay for a while and people will always need their phone fixed. When the time comes for a new product we will transition to fix those as well.
3. In the beginning of this class, I had no clue on how to start a business or come up with ideas. Now I feel comfortable with my entrepreneur skills. I can see problems clearer and ideas seem to come at me without even thinking. I turn every problem into an idea and I am 100% sure now I want to be an inspiring entrepreneur. I started to go to the e-club and that really helps listening to entrepreneurs speak about there idea and how they started and they did everything this class teaches me. The assignments have helped me develop my skills when it comes to approaching customers. Although, I don't think I have come up with a solid idea from this class, the seed has been planted and I have the right skills to become a business owner and entrepreneur!
2. Interview:
Question 1: When did your start up began to make money? Mobile Phone Geeks started making money right away because we were a service business for consumers and all we had to do was order parts and from there the money started coming in.
Question 2: What other services so you offer now that you didn't before? In the beginning we stuck to fixing iPhones and other phone's screen. Then we transition to more phones. Finally, we began to do it all in the phone industry; we bought and sold phones, sold cases, and did orders through the internet.
Question 3: How long do you plan on staying in the industry? I plan on staying as long as business is good. I believe the smart phone industry will stay for a while and people will always need their phone fixed. When the time comes for a new product we will transition to fix those as well.
3. In the beginning of this class, I had no clue on how to start a business or come up with ideas. Now I feel comfortable with my entrepreneur skills. I can see problems clearer and ideas seem to come at me without even thinking. I turn every problem into an idea and I am 100% sure now I want to be an inspiring entrepreneur. I started to go to the e-club and that really helps listening to entrepreneurs speak about there idea and how they started and they did everything this class teaches me. The assignments have helped me develop my skills when it comes to approaching customers. Although, I don't think I have come up with a solid idea from this class, the seed has been planted and I have the right skills to become a business owner and entrepreneur!
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