Week 15 Reading Reflection

FINAL REFLECTION EVER!!! LOL

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

It wasn't so much as a big surprise, but it was definitely that hooked me to the article: the intro.  From the title I wasn't sure what to expect, but reading about the personal experience of someone with so many negative forces against them, and being able to still continue is amazing.  I admire that Akula's firm fights against all odds to improve the world of microfinancing for the less fortunate, even if it means they may not be on the winning end.  I did not expect the article to be this interesting based on the title.

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

No part was necessarily confusing, per se. If I had to choose something it would have to be the concept of microfinancing as a whole.  I know the gist of its definition, but I don't necessarily know how it works.  While the author was talking about how he was working in microfinancing, he talked about how there had to be a better way to scale up microfinance in India to better help the poor population.  I got what he was trying to say, but I wish I understood more of the logistical parts.

3) If you were able to ask two questions to the author, what would you ask? Why?
You've done tremendous work in India, do you plan on expanding to other poor countries to improve conditions there in terms of microfinancing? Why or why not?  If you could go back in time, is there anything you would do differently in terms of your own business?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

This is my final time saying this....no I do not think the author was wrong about anything in particular; my reasoning behind this (for the 100th time) is that I can't really argue on a subject matter I am not proficient in and/or an expert in.

Final Reflection

Here is my final reflection of everything that has gone on this semester!

1) Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.
I think some of the highs of this semester is that I surprised myself with how much I could actually accomplish.  I used to be very shy and I wouldn't really be able to approach people randomly to interview, so being able to confidently interview other students was a big step for me.  Some of my low moments were definitely the times where I would forget a deadline to an assignment; it happened way too often in the beginning and regret that very much, but I was able to recover in the end!  I think I had the most fun being able to develop an idea and see it grow throughout this semester; I never thought I'd be doing something like that but I enjoyed the experience.

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?
The most formative experience was the venture concept, it really allowed me to delve into detail about what I wanted to accomplish with my business idea and it put it into a more organized format.  The experience I will remember the most is the elevator pitches, and how many times I screwed up and had to film all over; I had never done a pitch like that before.  My most joyous experience was the free money assignment; just seeing the smiles on people's faces and approaching them randomly was really fun to me haha.  The thing I am most proud of is this blog itself; I have put a lot of work into these assignments and the blog has showcased all of them the best way possible.

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?
Even though this experience has taught me well, I still don't think I am a full blown entrepreneur...not just yet.  I still think I have much more to learn before I can confidently say I am an entrepreneur, but at least I can say I am heading in the right direction.

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?
My best recommendation is to give this your all; you will only get what you put into it.  Really try your best to complete the assignments to the best of you ability because then you'll be able to really see progress in yourself.  To foster the entrepreneurial mindset, don't be to quick to say no or that you can't do it; if you haven't tried, then you don't know.  Make sure to push yourself outside of your comfort zone, and that's when you will truly see growth.

Venture Concept No. 2

Here goes nothing!!

Opportunity

It feels as time goes on, the amount of pressure and stress college students suffer from increases more and more.  According to an Associated Press survey taken in 2008, 80% of college students from some type of stress at any given time.  Unfortunately, not many students have an outlet for this stress and too much stress can possibly lead to anxiety and other serious health issues. This is where I saw that I have an opportunity to help college students find a positive and fun way to alleviate their stress.  I think the reason so many young students are so stressed is because as the world keeps evolving, the real world gets more competitive; it is not enough to be okay, but we have to strive to stand out and be the best in our area of expertise.  Geographically/demographically the main issues are on or near college campuses and wherever students are really.  I think the current way that students try to de-stress is by exercising, picking up a craft, reading, etc.; the only problem with this is that each method is not as applicable to a wide variety of people or many students still don’t feel relaxed after it, so there’s not much loyalty there.  I think this window opportunity will only continue to open if society and college keeps running the way they does.

Innovation

So my innovation isn’t really new in terms of idea, but it is new in that it has never really been introduced to Western society yet: a dog café.  Dog cafés are a big part Asian culture and society, ESPECIALLY in South Korea (I spent 5 months studying abroad there).  So I thought it would be great to introduce this concept to the U.S: like Starbucks but more fun.  So at this café, people will get a chance to order from a diverse menu (coffees, teas, smoothies, specialty drinks, cakes, cookies, sandwiches, etc) that all have a sort of dog theme to them, all while being able to play and pet loving puppy friends.  The price range, for reference, is similar to what Starbucks offers.

Venture Concept

So with my innovation of the dog café, I really think I can make a positive impact on college campuses and their students.  By locating these dog cafes near the edges of college campuses, I want to be able to give students where they can retreat from their daily school struggles and unwind with a good bite to eat and some happy furry friends that will give them lots of slobbery kisses until they smile.  Research studies have shown that dogs have the ability to lower blood pressure, stress, and anxiety in people; UF has brought dogs onto campus during exam weeks in order to help students unwind.  My concept would be more of a permanent solution.  I think that many students would enjoy my service because the café environment is relaxing and a social area where they can openly play with dogs whenever they want; I don’t think the switch will be hard because many students I have interviewed and talked to have mentioned that they would like to have dogs but their living situations or schedules won’t allow them, so this is a less risky solution.  Currently there are no competitors in my field! This is the most advantageous aspect of my venture.  My possible vulnerabilities would be late competitors or copy cats.  My business concept is defined primarily on the customer experience; I want everyone walking into the café to feel great once they leave.

Final 3 Elements

My most important resources is of course the actual dogs.  I want to be able to work alongside the Alachua Humane Society and other animal shelters in Gainesville to be able to use the dogs; that way we support adoption and give these dogs a better chance at new lives and more human interaction. I think the dogs, alongside with my dog themed menu and design, will make it hard for competitors to surpass me once I hit the ground running.
As for what’s next for the venture, I am not necessarily sure.  I think the next opportunity would be maybe create a cat café? Haha
As for what’s next for me, I am also not sure.  I want to pour my all into this business and make it the best it can be before I move on to bigger and better things.  Whatever I end up doing I hope that it will have a positive impact on at least one person; if I can do that then I feel like I have already won.

**Bau House: top cafe in Seoul, South Korea**

Elevator Pitch No. 4

LAST ELEVATOR PITCH!!!!! AHHHHH!

So once again, I decided to not deviate that much from my second or third elevator pitches because a lot of the feedback I have received from all of you has been positive and all constructive criticism I adjusted to in the earlier pitches.  I think for this pitch my main focus was to seem more relaxed and approachable; I know it may not sound so professional, but I didn't want my tone to come off so stiff like it had in previous videos. Also, I think it's super hard to fit all that I want to say about my business in 60 seconds haha. Hope you all enjoy and let me know what you think!!

** sorry for the awkward thumbnail of my face xD **

Google Gold

Hello everyone! Here is my overview for my blog and the work I've done for SEO

1) A discussion of your general approach and strategy to search engine optimization (SEO). What were some of the activities you did for each blog post to pursue SEO? 

To be honest I don't think I really had and SEO strategy, which is unfortunate.  All the way during this class I was so focused and being able to complete my blog posts and work on my skills, I never really thought of how to make my blog more visible online.  I think the one strategy I actually did try was to make sure I had a unique name for my blog and not a generic "ENT3003" name so that way I would show up online.

2) What were your keywords. How did you select those keywords? Did you change or refine your keywords through the semester?

Like I had said, I didn't realize much for keywords.  I think the only real key words that I used were in my blog's title because if you looked up the words in the title my blog would show up on Google. As for other keywords, I used very generic ones, like entrepreneurship, innovation, elevator pitch, etc., but that doesn't really help me reach the top for Google searches.

3) How did you use social media to enhance your SEO efforts? What your your surprises or general impression of using social media to improve your blog's profile? Was social media generally receptive of your blog, or did it get ignored?

This is one thing I was actually very active on.  So I constantly shared my blog posts every week to my Facebook page and family and friends would then share my post.  I think that because I was able to share on social media, I got a bigger view count on my blog; it was more than just the 2 or 3 students from the class that HAD to comment on my post (no offense guys).  I think social media was receptive depending on how interesting the content of the post was, and even more receptive when there were videos involved. 

4) What was your most "viral" post? In other words, which post obtained the most traffic? Why do you think?

My most viral post was actually a tie between my first and second elevator pitches haha.  I think because a lot of us students in the class had a different approach to our own pitches that we looked to other people's pitches for comparison or to see what we liked in their pitch that we would like to incorporate into our own in the future.  This was one of the bigger assignments we had this semester so I think that's why it might have been my top post.

5) Finally, did you make it to the first page of Google results for your keywords? If not, what page of results did you make it to?

I most definitely did not make the first page of the Google results for my keywords; I didn't even make it to page 4 so it is a lost cause.  What I do make the top of the page for is if you type in my blog's title into Google haha.  I will try to pay more attention to SEO for future reference, because maybe if I had been more attentive my blog's traffic could have been higher.

Week 14 Reading Reflection

Here is my reading reflection for chapters 3 and 4 for this week.

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 
I thought it was incredible reading about the Arkenstone Reading Machine.  I really admire how people believed that there wasn't enough of a customer base for those who needed and wanted to understand different things but couldn't because they were blind and there was no braille available.  Yes they may be a minority but they are still a part of the whole. I thought it was phenomenal that Benetech was able to create something that would actually be cheaper and more helpful to these people, and in the end they were much more successful than others' expectations. That was my my favorite part of the reading.

2) Identify at least one part of the reading that was confusing to you.
I think the one part of the reading that I found somewhat confusing was the section explaining obstacles to corporate venturing, especially the chart that detailed the traditional management practices, the adverse effects, and the recommended actions.  It was much more detailed than I thought so I didn't think it would be that extensive.  Also the figure demonstrating the integrative model of corporate entrepreneurship strategy; it was slightly chaotic where it felt like a pain trying to follow it.

3) If you were able to ask two questions to the author, what would you ask? Why?
You talked about corporate venturing and corporate entrepreneurship, so I am curious if there are any companies (today in the 21st century) you think need to implement this strategy or that will benefit from it? Please be specific.  On the topic of ethics, do you believe that ethics and morality are lost as someone climbs the corporate ladder or as a corporation becomes more successful? Why or why not?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
As I say every week, I don't necessarily think the author was wrong about anything. Why? Because this is a subject matter that they are an expert in and I am not.  This is not my forte so I can't really argue  that they are wrong if I am not an expert.

Very Short Interview Part 2

Hey everyone! So I unfortunately did not complete the first "very short interview" assignment since I missed the deadline for it. So for this assignment with this assignment I will do my best with what I have done so far.  I decided to reach out to Valentina Devia, she is an architect, real estate agent, and started her own interior design company couple years back.  Since she lives in South Florida, I wasn't able to go see her in person and she said due to her reputation and the company, she did not want to be recorded in video or voice.  However she was more that happy to respond to all my questions via email so her responses will be seen below!

For this exercise, I would like you to revisit that first conversation you had with an entrepreneur. In that initial interview, you asked an entrepreneur three questions. Now, revisit this interview and think about the questions you asked and the answers they provided you. From where you stand now, what is your impression of that initial interview?
Like I said, I unfortunately did not complete the first interview so I don't have much to talk about in that aspect.  In a broader view, I think all the experience that I have gained in the class has made me more knowledgeable about entrepreneurship and maybe if I did do the first interview, I would probably notice very basic questions, slight nervousness, and uncertainty.

Second, visit the entrepreneur again. Record the interview if possible. The three questions you ask this time are entirely up to you. Let your experiences in this course drive what questions you ask -- and that will be very different for each of you! 
*her responses are in quotes*:

Q: Is there anything you wish you had done differently with your start-up?
A:"There's not a moment where I haven't thought about that.  I think the one thing in particular I wish I had done differently is network more with other interior design firms and try to create a better network BEFORE opening up business.  I guess I was too timid at that time, maybe not as confident in the work I was doing, that I didn't want to talk to people about it until it was done.  Now I regret that decision, because it was a lot more difficult creating my network once my business was up and going.  Its been years, and now I am just starting to really see my network; maybe if I had done it earlier I could have been more successful,who knows."

Q: How did you keep your momentum going during the whole process of coming up with and building your company?
A:"It is all a mental game.  I know this sounds harsh, but starting your own business is not for the overly emotional or the weak.  I had 2 years during the creation of my business, where I was losing more money than I had expected, no investors wanted to invest in my company, and I had to juggle another job just to stay afloat.  Thankfully I had a great group of people encouraging me, along with the fact that once I start something, I need to see it to the end."

Q: Any comments or advice on my business concept? (showed her my work)
A: "You are heading in the right direction.  I think what I admire most about your idea is the reason why you are working for it.  You want to help others with your concept; the selflessness you radiate will keep you going and fighting for this business and it's success. Of course there is MUCH more you need to do in order to actually get this going in the next few years, I can see that it is something worth pursuing."

Third, after the interview, try to gather some sense of how far you have come in this class. In your post, discuss your comfort level in talking about entrepreneurship in this interview now, compared to three months ago. Did the entrepreneur convey a sense that they thought you had progressed in your journey?
I think anyone, including myself is uncomfortable talking about a subject matter they are unfamiliar with or know nothing about; at the beginning of this semester I wasn't entirely sure of what I was getting into, so I am sure my first interview would have been nerve wracking.  Now that I have gained some experience and confidence, I feel much more comfortable to go and talk to ANY entrepreneur and learn from them in the future.  Valentina, who has known me for a long time, said she noticed there was a new found confidence in myself; she saw a sort of spark in the way I talked about the work I had done this semester.

Thanks for reading guys, and feel free to check out my other posts!

Week 13 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 
The biggest surprise in the reading was the Due diligence section where there was a figure that demonstrated the checklist for Analyzing a Business; I was so shocked that there was such a long list and how each of the section went into such detail about what to analyze and how.  I imagined analysis would be extensive but I didn't know how much until I saw the list.

2) Identify at least one part of the reading that was confusing to you.
Once again, the text is not that difficult to understand, so I wouldn't say I was confused.  If I had to pick something then it would have to be the section that mentioned the Roll-up frenzy and how entrepreneurs would sell their business and then later on buy them back with the value being less than when it was acquired.  I think the way it was written, it took me more than one reading to really understand it

3) If you were able to ask two questions to the author, what would you ask? Why?
What tip or suggestion would you give to overcome the emotional bias of the seller? I think that being able to overcome the emotional bias could make a business owner better.  Why is the control factor so important? I get the effect it has but I just don't see why so I'd like an explanation.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I didn't see anything that the author was wrong about, in my opinion.

Celebrating Failure

Well guys here is my failure for the semester!! 

1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time.
This semester I have been trying to find an internship for digital marketing and I have applied to maybe over 20 different positions.  It has been very frustrating because I really want one for the summer but so far I haven't been called back for interviews or anything so I really feel like I've failed.  I have a pretty good resume with a lot of experience in the field so I don't know why I still haven't been called back. There are times where I think, "what more can I do?",

2) Tell us what you learned from it.
I am not used to failing, and I say it in the most sincere form, so what I have learned from this experience is that I am no where near perfect and that it's okay if I haven't been called back. It is not because I'm not good enough, so I just gotta keep trying until I land one.  I can't give up no matter what.

3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were four months ago?
Failure is most definitely hard.  Whenever I came across failure I would always immediately get discouraged and I would let it manipulate me.  Through this class I became better with accepting failure and that it's normal and to just keep going.  I am much more likely to take risks now than I would have 4 months ago because my new philosophy is "it is better to take the risk and fail, then to not take the risk and always wonder what if".

My Exit Strategy

Well here is my exit strategy!
feel free to check out some of my idea napkin to see what my business concept is! lovetravellives.blogspot.com

Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children? Why have you selected this particular exit strategy?
I am not 100% sure whether I would sell my business of if I would intend to stay with it.  If I start my business now, or in the next year, I think I would sell it after 5 years or so of business.  My reasoning is that I am barely 21 and my business is aimed for the UF area and other college towns, so I still want to grow and experience things in other places instead of settling in Gainesville; I would just stay throughout my graduate school and then leave Gainesville to find a better place where I can fit in.  Although, I am not sure how attached I would become to my business and if I would be willing to let it go.  If I start the business once I'm older and settling down, then maybe I would be more willing to stay with the business until I retire.  It would be nice to have it as a family business, but I wouldn't want to pressure my children to take over, so whatever happens I don't care as long as it's someone who can do what is good for the business and employees.

How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
I think throughout this whole process of developing the business concept, the idea napkins, the elevator pitches, etc., I never really thought about what my exit strategy would be.  I think now that I have considered what my exit strategy would be, I feel my concept would still stay the same, its just I'd have to better prepare my team of employees; so I guess more thought and effort would have to go into finding the ideal management team that could take over once I decide to move on.  I think it has influenced my growth intentions because it will motivate me more to make this business the bestit can be and network early on to find the best connections out there.

It is kind of hard to think of the end of things because we are so focused on jut moving forward, but I hope that if this business comes to life and once the time comes to end it I will have a better understanding of what I would like to do with it. Thanks for reading!

Week 12 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I found interesting the Entrepreneurial Strategy Matrix, because it detailed each of the 4 sectors, and then it explained what strategies were best fit for each of the 4 sectors; it simplifies the decision process for which strategy works best for your business.  I also found the section on community pressure interesting because I never really though about the effects a community can have on a start up business.

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

I wasn't really confused by the chapter's content, it was not that hard to follow.  If I had to say something it would have to be figure 13.1 that explains the strategic management process.  It is a flow chart of sorts but it is really detailed that it kind seems confusing but I think once you get the hang of it, it is a lot easier than it looks.

3) If you were able to ask two questions to the author, what would you ask? Why?
At one point in the reading you mention how whether it is a high performing or low performing firm, a lot of them have issues with long-term/long-range planning; what are some tips to combat that issue and help firms acquire the skill?  You also mentioned the emergence of global entrepreneurs; in your personal opinion do you believe local entrepreneurs (in the US) have a higher success rate, or do global entrepreneurs? and why?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I don't think the author was wrong about anything, not from what I read in the chapter.