30A – Final Reflection

Experiences
   Looking back through all the posts was quite a journey. There were many experiences had along the way and a few stood out even more than others. I remember the first steps well in this course of recognizing opportunities around me. I felt this was a very formative experience as its the first step for any entrepreneur to make. I'm most proud of developing my elevator pitch because this was something I was initially not excited to do. Memorizing lines always seems like a daunting task but after a few attempts it comes much easier.

Mindset
   After completing this course I feel I have gained a much better insight into the entrepreneurial mindset. I'm not sure I have a fully developed entrepreneurial mindset but I do feel I've made progress in capturing it. I know that through experience I can develop it further and this course has provided great experiences to do that. Through this course I have learned what makes an entrepreneur great is not only recognizing opportunity, but acting on it. Following this course, I am more willing to take risks and more apt to deal with the failures that follow.

To the Students who Follow
   To get the most out of this course I would recommend getting out of your comfort zone. This may mean that you will hit a few roadblocks along the way but roadblocks will only make your resolve stronger. Overcoming these obstacles will help build confidence in your product as well as yourself and you can use these victories to help tackle anything that comes in the future.

29A – Venture Concept No. 2

This is the second venture for my package storing product. This will further delve into the opportunities that this product presents to the world and covers the innovation driving these changes. This will also include notes regarding changes due to feedback in the first report.

Opportunity:
 With the growth of modern day online shopping consumers have found it easier than ever to buy packages and ship them to their homes. But within this modern day shopping Renaissance there lies a problem. Packages which are shipped to homes are often left unguarded and in plain sight for any thief that happens by. There is a huge opportunity for a product that can reliably keep your packages safe and out of sight of anyone who passes by your house. Consumers who regularly buy packages online have this need for security. This market is defined by homeowners who have packages sent to their homes and live in either urban or suburban areas. This opportunity will exist so long as their are unguarded packages being delivered to homes. Customers currently have few options to satisfy this need other than having packages not delivered without a signature or having a mailman hide the package.  Consumers are not very loyal to this option and are looking for a change.

Innovation:
 This product would be a secure containers capable of receiving mail or packages that have been shipped to you. Unlike a standard mailbox, this product would allow mail to be placed in but not taken out until unlocked by the owner. Built into these devices would include hardware which would monitor when the product has been delivered. This would give total privacy and security to your mail and packages that you have shipped to you. There would be three sizes made available for small, medium and large packages. I would be selling these products for $50, $100, and $200 respectively. Customers could then further personalize their product by picking a color scheme. Along with the customization aspects, customers could subscribe to a monthly service which would send text and email alerts to their phone when the package has been delivered. This service would charge $4.99 per month.

Venture Concept
Customers will want this product for the security it provides them. When online shopping many people may not purchase an expensive item for fear that it may be stolen before they can receive it. This also allows people to order products that would be delivered during the work week which they could otherwise not do. The business that grows from this product will be structured around the sales of this product. The service fee for subscription members would also provide a diversified and lasting revenue pool. I would start with only a few employees for sales and have the product produced elsewhere to minimize initial start up capital. The product would be heavily featured and targeted towards online shoppers. These shoppers would be directed towards the website for the company where information on the product could be found and potential buyers can customize the product to their needs. Major competitors include Amazon with their new unlocking doors to have products delivered inside your home. This is not a well received idea by many due to privacy concerns. Switching to my product will be easy as it will essentially replace the mailbox outside the home. After ordering the product it would be delivered and set up outside the home. Packaging on this product will be for the purpose of protecting it during transport and the price will cover the production and distribution of the item.

Three minor points
My firms secret sauce will be the peace of mind my product affords the consumer. Other products just can't match the reliability of my product and peace of mind it provides.
The next venture for this product may include surveillance for the home. This would pair well with a security device for your mail as you would have even more protection over your goods.
In five years I'd like to be selling this product to Amazon. After this I would start on my company seizing a new opportunity in the market.

Feedback
After the first venture concept I received a lot of great feedback about my product. It was suggested that I diversify the income streams of my company. This was something I hadn't thought much about but providing a subscription fee for added information on your product seemed like a great place to start. 
Another point that was made was the need for more customization of the product. Online consumers who I would be targeting can be very picky so I decided to give them the tools to make the product to their satisfaction. I gave them the power to customize the product to find not only the right size, but the right color to match their home. Hopefully these changes will entice more of the market into buying the product.

28A – Your Exit Strategy

1) Identify the exit strategy you plan to make.
Following the five year success of my product my plan is to sell the company. Investors who I think would be interested in the product include Amazon or Walmart due to the fact that my product synergizes with their online business model. This product would prompt consumers to use their online marketing service more and for higher priced goods. This is due to the confidence boost my product would provide in securing their product. I don't see this product as a family business because their will likely be many competitors in the near future if the product does see success and I feel it would be smarter to move on to the next opportunity.

2.Why have you chosen this particular exit strategy?
This exit strategy would provide capital which could be immediately invested in the next opportunity following this product's sellout. This product is not patented and I believe that if it sees commercial success, competitors will emerge with very similar products and price points. The main advantage of my product would be the fact it is first on the market which would give it a stronger presence. This may entice large online retailers to simply buyout the company rather than compete with it.

3) How do you think your exit strategy has influenced the other decisions you've made in your concept?
This exit strategy has influenced how the product will ultimately be made. The product will be constructed by a third party to reduce initial upfront costs of opening up a manufacturing plant. By having less capital invested in the infrastructure of the company, selling the rights of the product and leaving the company will be made much easier. In the meantime, I plan to grow the company as big as possible before selling off the rights to another company.

27A – Reading Reflection No. 3

The book I read was The Art of Social Media: Power Tips for Power Users, Guy Kawasaki

1) What was the general theme or argument of the book?

This book delved into how social media can act as an effective tool for marketing. It discussed the various platforms and how to take advantage of situations within them. By utilizing these platforms one can provide an effective outlet to express a product or a company to the intended market.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

In this course we have examined various ways to connect and communicate with our intended market. While we have mostly done on the ground work such as interviews with pedestrians or professionals in our market, this book provides a good contrast of the other side of marketing. By having a media presence you can present your service to your intended market and get consumers talking about it.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

This book emphasized different media outlets and their usages. For our exercise I would have us create a Facebook or Pinterest page for our company where we can express our product or service that we are selling.

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

The biggest thing that surprised me was the fact that Kawasaki stated that while the general principles of the book do work well no one has social media completely figured out. There is no definitive plan for success and the things that trend on social media are vastly different and constantly changing. I thought this was surprising but refreshing to hear that no one has all the answers and there are many paths to success.

26A – Celebrating Failure

Time I failed:

I have experienced many failures this semester. Some were larger than others. Some could have been prevented. Some could not. One particular failure that comes to mind this semester was my first exam in Business Finance. I put a lot of work into doing problems and studying but when push came to shove I got a 68. 

What I learned:

This was demoralizing to say the least, but with failure comes lessons to be learned. I learned just how much work is needed to do well in the course. Although I thought I was working at an adequate standard for the class this showed I was wrong. After this point, better work habits were established and I did well on the proceeding exam.

Why Failing is important:

Failure is not something anyone wants to go through, but it is important for many reasons. Failure is embarrassing but it helps expose the fact that the current system is not effective. After failing one is then able to adjust and make changes. With enough failures and enough changes one will be able to succeed and be prepared for any failure they receive in the future. This class has opened my eyes on how to deal with failure and I feel more prepared for any future failures to come. In the future, I will be more likely to take risks and with those risks will come many failures and hopefully a few successes.

25A – What’s Next?

Existing Market:
After talking to potential customers on the street regarding my product I have set sights for a new direction the company can potentially pursue. While my product currently provides protection for the mail customers suggest I provide increased protection with the use of surveillance cameras. By
expanding into this new product line their could be potential for even increased security of your items as you can see when they have been delivered or if someone has tried to tamper with your secure container. I would have these cameras be view able on mobile devices with an app. This would allow customers to see exactly when their product was delivered and from wherever they want.

New Market:
With the new product of security cameras and apps, my company could invest into a data storage facility. This could be used to host data from security cams we have currently been selling as well as sold to other companies as a cloud storage facility. This new market of data storage would let us target other data heavy companies. This would create value by letting the companies rent data storage for a period of time.

Before going into this I knew very little about data storage. After consulting with my interviewees, they suggested I find customers by talking to local businesses or franchises that may want to use this product. Something that surprised me about this market is that there is limited competition with these data storage facilities and it is a tough market to breach into. This is because the larger companies can give lower rates as they have a strong base of customers. This new market seems less ideal than previously thought and I would keep my venture in its current state instead.

24A – Venture Concept No. 1

 This is the first venture concept for my package storing product. In this report we'll dive in to the opportunities this product is presenting to the world as well as the innovation driving it. The final topic covered will include the breakdown of my venture concept.

Opportunity:
 With the growth of modern day online shopping consumers have found it easier than ever to buy packages and ship them to their homes. But within this modern day shopping Renaissance there lies a problem. Packages which are shipped to homes are often left unguarded and in plain sight for any thief that happens by. There is a huge opportunity for a product that can reliably keep your packages safe and out of sight of anyone who passes by your house. Consumers who regularly buy packages online have this need for security. This market is defined by homeowners who have packages sent to their homes and live in either urban or suburban areas. This opportunity will exist so long as their are unguarded packages being delivered to homes. Customers currently have few options to satisfy this need other than having packages not delivered without a signature or having a mailman hide the package.  Consumers are not very loyal to this option and are looking for a change.

Innovation:
 This product would be a large secure container capable of receiving mail or packages that have been shipped to you. Unlike a standard mailbox, this product would allow mail to be placed in but not taken out until unlocked by the owner. This would give total privacy and security to your mail and packages that you have shipped to you. I would be selling this large secure container for $200.

Venture Concept
Customers will want this product for the security it provides them. When online shopping many people may not purchase an expensive item for fear that it may be stolen before they can receive it. This also allows people to order products that would be delivered during the work week which they could otherwise not do. The business that grows from this product will be structured around the sales of this product. I would start with only a few employees for sales and have the product produced elsewhere to initial start up capital. Major competitors include Amazon with their new unlocking doors to have products delivered inside your home. This is not liked by many due to privacy concerns. Switching to my product will be easy as it will essentially replace the mailbox outside the home. Packaging on this product will be for the purpose of protecting it during transport and the price will cover the production and distribution of the item.

Three minor points
My firms secret sauce will be the peace of mind my product affords the consumer. Other products just can't match the reliability of my product and peace of mind it provides.
The next venture for this product may include surveillance for the home. This would pair well with a security device for your mail as you would have even more protection over your goods.
In five years I'd like to be selling this product to Amazon. After this I would start on my company seizing a new opportunity in the market.

22A – Elevator Pitch No. 3

Here is the pitch!
https://www.youtube.com/watch?v=iwejfJWyrag

Based on feedback I changed a few things this time around.
-Less long awkward pauses.
-Less box throwing
This time around I tried to present my ideas faster and even more clear. No one wants to sit through a boring presentation so I tried to keep the energy high but still business like. I hope y'all enjoy my latest installment.

23A – Your Venture’s Unfair Advantage

Resources my product has:

Human Capital:

1. Ingenuity

V: It is important to have someone who thinks outside the box

R: There are many people who do this

I: It is hard for others to come up with the same unique idea

N: You can not substitute a good mind

2. Strong collaboration skills

V: It is valuable to collaborate well with others

R: There are many people who also collaborate

I: It is easy to copy in other firms

N: You can't substitute good collaboration

3. Emotional Intelligence

V: It is important to react to others thoughts and opinions

R: Many people have strong emotional intelligence

I: This is fairly easy to copy

N: There is no good substitution

4. Proactive problem solving

V: It is important to combat problems before they arise

R: There are a lot of people also with this skill

I: This makes it easily copied in other firms

N: There is not a good substitute for a good problem solver

Technical Resources:

5. Technologically sound

V: This is a product which needs very little research and development because the technology is currently used in other systems today

R: This is not rare

I: This is easily copied as it is public domain and no longer patented

N: There has not been a cheaper substitute made but their are variations on the schematics

Capabilities:

6. Peace of Mind

V: This will allow online shoppers to feel more comfortable making larger purchases

R: There have been many attempts at trying to provide peace of mind to online shoppers

I: It is hard making the customer feel safe

N: There are few current substitutes on the market

7. Security

V: This would provide security for all delivered mail

R: There have been little advancements in physically protecting shipped goods

I: There is no patent on this product so it could easily be copied

N: There are very few other products on the market that would do this job

Social Resources:

8. Social capital with supplier

V: Having social capital with a supplier could help to get the product on market shelves for customers to see

R: This is not a rare resource as most companies know their suppliers

I: This is easily copied

N: Another option would be making and distributing the product yourself

9. Brand displayed well

V: The product will be visible on the street raising brand awareness

R: Not many products are used out on the street

I: The brand would not be able to be copied

N: Advertising on T.V is another way to spread brand awareness

10.  Synergies with online retailers

V: Amazon and Walmart may want to pick up the product to increase online sales

R: Not many products would increase the sales of online retailers

I: If this product were to be successful it would most likely be copied

N: The Amazon doorbell is the current alternative to this product

I'd say the most important resource my product provides customers is the peace of mind. This is why people will buy the product. It will allow them to feel safe in their purchase decision and let them go about their normal day to day business instead of worrying about their online orders.

21A – Reading Reflection No. 2

How to Fail at Almost Everything and Still Win Big, Scott Adams

1) What was the general theme or argument of the book?

The theme of the book centered around how failures help you to grow as an individual which will ultimately lead to more knowledge and eventually success.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

I thought the book was similar in a lot of aspects to what we are learning in ENT 3003. For instance one of the main points of the author focused on looking out to the community. This felt somewhat related to our previous assignments where we went out into the community in search of feedback and critiques of our products.

I felt it enhanced what I was learning in ENT 3003 with its message of not giving up when hitting failures but instead learning and growing from them.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

In the book the author talk a lot about looking after yourself first in foremost. I would give the class an assignment to track their sleep, meals and exercise to make sure they are looking after their own health.

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

I thought it was really interesting that the book talked about taking care of yourself before looking out for others. This made a lot of sense when creating a business because its survival is the most important aspect. Being selfish to achieve success is still achieving success which was a huge takeaway.

20A – Growing Your Social Capital

1) One person must be a domain expert in your industry.
Someone who sells home products

1) Who they are and what their background is.

This week I met with a Mary Crawford who works as a seller of home goods.

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

This is my domain expert.

3) A description of how you found the person and contacted the person.

I sent an email to my local home goods store and later got a chance to speak with Ms. Crawford.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

I told Ms. Crawford about my assignment and gave her the pitch for my product. She gave me tips on how to sell home improvement items to customers such as pushing the positive aspects of the product.

5) How will including this person in your network enhance your ability to exploit an opportunity?

If I am ever looking for new ways to market my product to consumers I could ask for more tips on how to sell my product.

2) One person must be an expert on your market.

1) Who they are and what their background is.

I got in contact with Jacquelyn Owen who works for a home insurance company.

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

This person is a expert in my market.

3) A description of how you found the person and contacted the person.

I sent an email to the home insurance company and later went in to talk with Ms. Owen.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

I told Ms. Owen about my assignment and my pitch for the product. I let her know that we have the same market of young homeowners and I asked her tips on how to target the market. She gave me feedback on being direct and courteous to my customers.

5) How will including this person in your network enhance your ability to exploit an opportunity?

Having Ms.Owen in my network will prove useful if I have more questions about my target market which are young adults which own homes.

3) One person must be an important supplier to your industry

1) Who they are and what their background is:

-The industry supplier I got in contact with was Brian Nunez. Mr. Nunez works as a manager for a home goods store in my hometown.

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot:

This is my important supplier.

3) A description of how you found the person and contacted the person.

I got in contact with the store via email and later met with Mr.Nunez in the store. 

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

I talked to him about the assignment and gave him my elevator pitch for the product. As a favor he gave me feedback about my product and and the kind of market that may be interested in such a product.

5) How will including this person in your network enhance your ability to exploit an opportunity?

Having this person in my network may help my product reach the shelves of a home goods store where customers will see it. This could potentially kick-start its sales.

19A – Idea Napkin No. 2

1) You. 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 Travis Dye. I am a junior in the college of business at the University of Florida. I have experience working in a retirement community and I aspire to get a master's in healthcare administration so that I may one day run such a facility. When it comes to my concept of a secure container to hold ordered packages playing a big part in my life if I pursued it. I find it a a problem that is suffered by many and no one  has made a clear solution to the problem yet.

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 
- My product would provide a safe compartment for packages to be delivered by the postal service. It would achieve this using the same technology as a post box which would allow packages to be placed in but not be taken out. Once the homeowner decides to receive their package they can unlock the box and take their package.

3) 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?
- My target customers are homeowners who shop online. This has become quite a diverse group as more and more people are using online retailers to buy their products. This group includes both Millennials and Baby Boomers. The majority of my customers would also live in either the city or suburbs.

4) 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. 
- People care about this product because it gives them peace of mind. OFten times staying home all day to wait for a package is not an option and this product would allow consumers to go about their day as normal. This also saves the consumers time and energy if their package was to be stolen which would force them to file a claim to the online retailer.

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 
-My core competencies include the fact that I'm hard working and dedicated to my product's success.  I want to see this product succeed because it would help solve a problem which is very real in my own life. I do not think anyone else has the drive to see this product succeed like myself.

I think these elements of business model work together very well. There is a problem, a market, and I am offering a solution. The points that are unknown are whether or not this product will succeed if it put out onto the streets. This is due to the fact their are many uncertainties such as overall cost and effectiveness of the product.

Memo-For this assignment I tries to be even more specific on how my product would work.
I also tried to include even more reasoning behind the customer demographics that would purchase my product.

18A – Create a Customer Avatar

My customer avatar:

My customer avatar is a young couple who are homeowners. They do regular online shopping and have a house either in town or out in the suburbs. They are about 30 years old and have a moderate to high income job.

What do you have in common with the customer avatar? If you have anything in common with the avatar, do you think that is a coincidence? Why?

Like my avatar I am young and living in a home on the street in town. I also do a lot of online shopping. This is not a coincidence because I experience the same problem that my product is trying to solve. I am creating this product to keep packages which are delivered to your door safe until you get home and can open them yourself.

17A – Elevator Pitch No. 2

1) The pitch

https://youtu.be/uLP2Q506200

2) A reflection on the feedback you received from your last pitch
I tried to make this video dynamic by making gestures with my arms. I also included the use of props such as an amazon box during the speech.

Another point I made sure to improve on was good natural lighting.

I also dressed professionally for this interview.

3) What did you change, based on the feedback?

Although I did not complete the first pitch I sought feedback through others videos and attempted to correct mistakes others had previously made.

16A –What’s Your Secret Sauce?

1) Describe five ways in which you think you have human capital that is truly unique
1. I am proactive in finding solutions to problems.
I don't wait for someone to tell me solve a problem. I instead actively seek at solutions to problems I find.
2. I think outside outside the box.
When it comes to solving problems, I find solutions that others overlook.
3. I work smarter, not harder.
When it comes to finding solutions brute force may not always be the best method. If i find a easier solution I will take it.
4. I take criticism well.
I don't brush off remarks that are given to me. Instead I try to improve myself based on the feedback I receive.
5. I collaborate with others.
When I'm in a tough spot I look to others for solutions and create synergy.

2) Interview the five people who know you the best.
My interviews: https://drive.google.com/file/d/0BwuGxJSsvp-qQkxfcDBVMkRhRy1zd3JHYTcybldpeW1RdllB/view?usp=sharing

1. My first interviewee talked about my work ethic and emotional intelligence. He remarked I am able to read body language 
2. My second interviewee described my commitment to my word. He also commented on my sleep habits and how I wake up early to start each day.
3. My third interviewee commented on my good mood. She also commented on my wide knowledge of facts. I like to learn something new everyday.
4. My fourth interviewee also commented on  my work ethic. He also described how I solve problems around the house.
5. My last interviewee talked about my musical talents as well as my ability to cooperate with others easily.

3) Reflect on the differences.
I think others view me similar to how I see myself. If I were to add anything to my first list it would include having a high emotional intelligence. I find this to be useful when talking with others one on one as you can judge how the conversation is going and correct it based on nonverbal feedback.

15A – Figuring Out Buyer Behavior No. 2

Begin with alternative evaluation.
After interviewing my segment a set of alternatives to package security was created. This list includes:
1. Having the package left at a backdoor.
-This was chosen because it is a cost effective option. It is not full proof as the package is not always left where specified. 
-Other times, people do not have back or side-doors where packages can be left for them.

2. Staying home and waiting for packages to be delivered to you.
-This option is effective but it is time ineffective. 
-People who stay home all day to receive a package will not be able to leave until they have receive their package.

3. Contacting the product provider if their package is stolen and requesting a refund.
-This can be risky as it doesn't guarantee your package safety. 
-Another reason this is not full proof is because you may not always receive a full refund from a company for a stolen product.

How/where do they buy? 
The people that I interviewed bought their online products through Amazon and Alibaba. These products were bought online using debit or credit cards.
People involved in the purchase decision included themselves and sometimes their roommates or family. It also included reviews of the products they were going to buy online.
No one that I interviewed currently had bought enhanced security for their packages.

Post-purchase evaluation.
The interviewees were usually happy with the products they have bought online. This is because they research the items before they buy them. The consumers were more likely to think a product was a good idea if they could get the product either for very cheap or receive it very quickly. 
Bad purchases included ill fitting clothes and products that did not work upon arrival.

Draw conclusions. 
This target audience is very aware of the products they are receiving. They see the need for enhanced security of their goods but they are very money conscious. They also read lots of reviews about their products before making a decision. If this product could demonstrate that it could cost effectively protect packages sent to people's homes I feel it would do very well in this market.

14A – Halfway Reflection

1) Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 
For a new student coming into the course I would say consistency is key. If you want to keep up with an online course you must schedule time during the week to watch lectures and work on assignments. Once you have a schedule made, you must stick to it to avoid missing anything in the course.

2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?
I first struggled with what my entrepreneurial idea would be. But, I didn't give up and I racked my brain for an opportunity that would relate to myself. I very happy with the opportunity I have decided to pursue and I'm learning quite a bit about a topic that interests me in the process. Since the problem is is one that I suffer with too I feel I am more tenacious in my efforts to pursue a solution.

3) Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?
My three tips would include:
1. Don't be afraid to ask questions and dig deep.
2.Choose a problem that you can relate with.
3. If you ever hit a roadblock don't give up. You can always ask others for advice!

13A – Reading Reflection No. 1

For this exercise I chose:
The Wright Brothers, David McCullough
1)

• What surprised you the most?

I thought it was surprising that the Wright Brothers didn't even begin to pursue their passion of aeronautics until they were both around 30 years old.

• What about the entrepreneur did you most admire?

I admired the fact that they did not give up on their pursuit of flight despite failures and over 10 years of work.

• What about the entrepreneur did you least admire?

The brothers often had many lofty goals which kept them from pursuing their dream of flight.

• Did the entrepreneur encounter adversity and failure? If so, what did they do about it

The Wright brothers endured many failures on their pursuit of flight but each failure brought them even closer to their final goal.

2) What competencies did you notice that the entrepreneur exhibited? 

The Wright Brothers were extremely innovative and were able to learn from their mistakes.

3) Identify at least one part of the reading that was confusing to you.

I thought it was confusing that the United States didn't immediately see the benefits of the Wright brothers' invention. The fact that they had to first go to Europe to achieve success did not make much sense to me.

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

What kept you motivated while dealing with failures?

I'd ask this question because I find it daunting to restart a task after I have not succeeded in it.

What motivated you to start this daunting journey?

I'd ask this question because I find I need a strong motivator to keep me working harf.

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

I'm sure the Wright brothers believed hard work was necessary to achieving success. I do share this belief with them.

12A – Figuring Out Buyer Behavior No. 1

Pick a segment.
For this exercise I picked the segment of young adults aged 18-30.
These people live in houses and shop online for items which will later be sent to their homes.

Interview 1:
The first person who I interviewed was a 20 year old male and met my target demographic. He was a frequent online shopper and had packages delivered to his home address.
Need Awareness:
 He was aware of his need for increased package security due to having his packages stolen before. He determined the need was most prevalent when the package would be shipped to him on a week day. This is because he would be at class for long periods of time and would not be able to receive his package in person.
Information Search:
Currently, the interviewee would have his roommates stay home to get the package if he was not there. He also tracks the packages he receives on his computer to get a better sense of when they will arrive.
The search terms on google relating to this are Amazon, Track ]Package\

Interview 2:
The second interviewee was a 21 year old female who lived in a house. She online shopped frequently.
Need Awareness:
She was aware of the need for increased security of her packages because she knew of people who have had their package stolen. She felt the need was the most prevalent when she was not able to stay at home and wait for a package to arrive.
Information Search:
To combat this problem, she has the delivery driver leave packages at the side of her house instead of the front door. This includes leaving a detailed note on the shipping information on where to leave the package.

Interview 3:
The final interview was a 25 year old male. He rents a home in Gainesville and online shops.
Need Awareness:
This interviewee was aware of the need for increased package security. He has had packages taken before he arrived back from work.
Information Search:
The current actions taken for increased security include ordering packages so that they will arrive on the weekend when he is not working. This means that his packages or items  arrive late on some occasions to fill this need. This person has also filed reports to have new packages sent once they are stolen.

Conclusion:
Young adults, who buy items online to have shipped to their house, are aware of the need for increased package security. People are already making steps to make their packages harder to steal but it is not 100% effective at stopping thieves. This would be a good market toi target regarding increasing their package security.

11A – Idea Napkin No. 1

1) You.
My name is Travis Dye. I am a Finance major at the University of Florida and I am an online shopper. I am the head developer of my new product which will revolutionize the way people receive packages and mail.

2) What are you offering to customers?
I am offering a product that will keep your online ordered packages and mail safely stored while you are out during the day. This would be a secure container that would allow packages to go in but would require a key or pass-code to open. This would in turn prevent your packages from being stolen while you are not home.

3) Who are you offering it to?
This new package receiving box would be marketed towards online shoppers who are also homeowners. The demographic most closely associated with this would be ages 18-34, as well as people aged 55+.

4) Why do they care?
I have had packages stolen from me. The outcome of such a crime can be anywhere from an inconvenience to a major hassle especially if time is valuable to the customer of the package. This product would give online customers peace of mind from the moment they purchase the item to the moment it is in their hands that they need not worry about this package being stolen.

5) What are your core competencies?
This product would be valuable because it provides security, discretion, and convenience. You do not have to go to a post office and pick up your package in front of other people. It also does not allow for anyone to enter your home, such as the new amazon door lock service. It is simply an improvement on the mailbox to accommodate modern day shopper's needs.

   I believe that the elements of this product do work well together. Nearly every home in America has a mailbox and this is an improvement on that invention. People more than ever value security and discretion in all aspects of their life. The weakest point this product has is getting people to implement it into their homes instead of using their standard mailbox. The reasons for this would include that the device would have to be cumbersome in order to prevent theft and large enough to fit most online purchases.

9A – Testing the Hypothesis, Part 2

Interviewees:
This week I interviewed five individuals. Their ages ranged from 21-55. Some were college students around the University of Florida area. The older interviewees were from my hometown of Bradenton. Despite the age difference and different locations they answered my interview questions very closely from one another.

Data Gathered:
Who? Who does not share the need for an increased package security system?
There are those with security systems already i place like most businesses which have a receptionist to sign and take packages.
Some apartments have packages delivered to a main office where they are looked after for the residents.

What? At what point does your service differ from another need?
This system only provides security for your packages and does not provide the added benefit of being able to sign for a package.

Why? 
Packages are often marked delivered but are not found by homeowners. Often times security cameras only provide the a blurry image that your package was taken and provide no added security.
                                     

                                                                               Table:
Inside the boundary                                                                                       Outside the boundary
Who?                                                                                                                            Who?
Homeowners, people living in apartments                                                              Businesses
without a front desk which takes packages

                                                                       What the need is?
                                                       Increased security for delivered packages

                                                                      Why the need exists
                                                 Online shopping technology has surpassed our
                                                 ability to keep packages safe. Thieves are willing
                                                 and able to take unsecured goods.

8A – Solving The Problem

Identifying the problem:
Goods that are shipped from online retailers have little protection from thieves once they reach their destination.

Finding a solution:
The solution to this problem would be a product that would serve as a new kind of mailbox delivery system. This product would serve as the primary mailbox for the home as well as being capable of receiving large packages. This new product would be a secured container that would allow packages to be placed in, but using current post office technologies not allow for any mail to be taken out. This product would also have an optional camera that could be be bought with an advanced package for even greater security of the delivered goods. All in all, this would be a completely revolutionized mailbox that has added security for modern day online shopping.

7A – Testing the Hypothesis, Part 1

1) Pick an opportunity you would like to pursue:

A package security system for shipped goods.

2) Clearly state the opportunity you have identified:

People living in houses are unable to securely protect packages shipped to their front door from thieves on the street.

The who: People who are living in houses

The what: They are unable to protect their shipped goods

The why: Thieves can easily identify and take unguarded packages from in front of homes.

3) This is your 'hypothesis' about the opportunity

After interviewing five different people I have recorded their responses as to the who, what and why that were not previously covered.

Testing the who: 

Anyone who buys online goods and does not have them shipped to a secure location for them to be watched over shares this need.

This may include people living in apartments.

Testing the what: 

Are all packages a problem?

Mostly small items are stolen which can easily be grabbed but large unguarded goods such as grill are often also stolen from homes.

Are all houses at risk?

Houses with heavy foot traffic by them or which have public sidewalks near them are the most at risk.

Is it just Amazon packages that it would guard?

This system could also help protect your mail from thieves and entirely replace the mailbox.

Testing the why:

This product can also deliver peace of mind to shoppers that their package will be protected if they are not home to receive it.

This product prevents you from having to file reports on a stolen package.

After consulting with five different people on the topic I learned that it offers a variety of selling points. This product could serve as a new type of mailbox and would provide a sense of security for your delivered goods. I learned from one of the interviewees that Amazon is already trying to take steps to solve this by implementing their custom door lock which allows Amazon delivery drivers access into your home. This idea has some drawbacks, such as privacy concerns, and is currently in testing.