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!