1) This semester I had a hard time keeping up with my course load of 17 credit hours. Since this class is not related to my construction classes and is online, I had a hard time keeping up with the assignments in this class. Overall, this semester tested my ability to be organized and to figure out how to do assignments for all of my other classes along with this one.
2) I learned that keeping up with classes this semester was harder than past semester due to the high level of courses i am taking in my major along with the online classes that I am taking. I also learned to do the assignments for this course early in the week, or I will often forget to do them by the due date.
3) I learned that failing an assignment because you forgot about it is not fun, nor is it good for your grade. Even though I did not like it when it happened the first time, it still happened more than once because I didn't change my actions soon enough. I don't think I'm any more likely to take risks than I was before taking this course. I do believe, however that this course showed me that there's a lot of ideas out there that can lead to success that haven't been thought of yet.
Monday, November 27, 2017
Friday, November 17, 2017
25A - What's Next?
What I Think Is Next?
Existing Market:
I believe that the next step in my market would be to cater the restaurant services specifically to college students. The more that the college students support and promote the services, the more that the general public would support and promote them. In terms of growing my business in an existing market, I believe that it would be best to partner with local businesses. They would be willing to help and support the business as well as help me with ideas on how to better promote the business.
New Market:
A radically new market for my company to emerge in would be an older, more sophisticated and family oriented crowd. I don't think that our apartment would do as well in this type of market because those that are in families are less likely to order meals to eat instead of cooking. The reason that this market is intriguing for college students because they tend to have little time to cook for themselves. It is also more expensive to cook for one person then it is to cook for four people.
Reflection:
After interviewing for the new market, I realized that it would in fact work better in a college market then it would in a more family oriented market. After interviewing a family of four, they decided that it is much cheaper to cook for a family of four than it is for a single college student to cook. I don't believe that this market is as attractive as the existing market, however I think that there are ways to change my idea to cater to different markets. One of my interviews said I had a great idea but it was very much catered to the market that I was trying to pursue.
Existing Market:
I believe that the next step in my market would be to cater the restaurant services specifically to college students. The more that the college students support and promote the services, the more that the general public would support and promote them. In terms of growing my business in an existing market, I believe that it would be best to partner with local businesses. They would be willing to help and support the business as well as help me with ideas on how to better promote the business.
New Market:
A radically new market for my company to emerge in would be an older, more sophisticated and family oriented crowd. I don't think that our apartment would do as well in this type of market because those that are in families are less likely to order meals to eat instead of cooking. The reason that this market is intriguing for college students because they tend to have little time to cook for themselves. It is also more expensive to cook for one person then it is to cook for four people.
Reflection:
After interviewing for the new market, I realized that it would in fact work better in a college market then it would in a more family oriented market. After interviewing a family of four, they decided that it is much cheaper to cook for a family of four than it is for a single college student to cook. I don't believe that this market is as attractive as the existing market, however I think that there are ways to change my idea to cater to different markets. One of my interviews said I had a great idea but it was very much catered to the market that I was trying to pursue.
Friday, November 10, 2017
23A - Your Venture's Unfair Advantage
1. Lack of Competitors
V: This is very valuable, because there will be less competition to be successful
R: It is pretty rare not to have a lot of competitors. Typically most ideas have a lot of businesses chasing it.
I: This can be imitated in different ways, but i don't think may people will have the exact idea that I have.
N: There are other resources that can provide resources like food, but none that can provide exactly what i'm offering.
2. Being close to a college campus
V: This is very valuable because it will be easy for the students to get to the restaurant from class.
R: It is not rare for restaurants to be close to campus
I: This can be imitated because other restaurants are open close to campus.
N: This cannot be substituted.
3. Delivery Service
V: This is very valuable because not a lot of student will want to go to the actual restaurants to pick up their food.
R: This is not rare for restaurants to have a delivery service.
I: It can be imitated because any restaurant can open up a delivery service
N: It cannot be substituted
4. Support of student organizations
V: Getting the support of student organizations would be very valuable, it would cause students to be more involved in the product.
R: It is not rare for student organizations to promote a particular product
I: It cannot be imitated.
N: It could be substituted by the support of a different organization.
5. Give samples out at the start of the business
V: I think this is a very valuable resource because it keeps people coming back, plus every college student loves free food.
R: It is not rare for a restaurant to give out free food to promote their company, especially at the beginning.
I: It could be imitated by competitors who want to get their product displayed
N: It could be substituted by not giving out free samples.
6. My capabilities
V: I think my capabilities to be outgoing and meet people would help me start the business
R: It is not rare for the owner of the company to be extremely outgoing
I: It could be imitated by other owners and entrepreneurs.
N: It can't really be substituted.
7. Using an app and website
V: Making an app to be able to order food online would be beneficial to the company as many students use technolofy
R: It is not rare to find apps for companies who deliver food
I: It could be imitated by other companies who have a similar idea
N: It could be substituted by a website or promotional ads
8. Contacts
V: Having the right contacts can really help your business take off
R: It is not rare to use the contacts you have to make for a better company
I: No, different contacts allow you to do different things within your company.
N: Yes, it can be substituted. People are always networking.
9. Leadership
V: I have taken on many leadership roles that would allow be to play an important role in the company
R: It is not rare to have leadership skills.
I: I use my leadership skills in my schoolwork, and social life.
N: Leadership is a quality that really cannot be substituted.
10. Public Speaking Experience
V: Having public speaking experience will be a huge plus to start this company.
R: It is not rare, a lot of great entrepreneurs have good public speaking skills
I: It can be imitated
N: It can't be substituted, having public speaking is vital for the company.
I think that most valuable resource is the contacts that you have. I think when starting any business or product idea you have to know someone who has some sort of experience in the area of work that you are trying to get into in order to have a successful product. In this case, I think that knowing people in the food industry and also in the social media world would help my product the most.
V: This is very valuable, because there will be less competition to be successful
R: It is pretty rare not to have a lot of competitors. Typically most ideas have a lot of businesses chasing it.
I: This can be imitated in different ways, but i don't think may people will have the exact idea that I have.
N: There are other resources that can provide resources like food, but none that can provide exactly what i'm offering.
2. Being close to a college campus
V: This is very valuable because it will be easy for the students to get to the restaurant from class.
R: It is not rare for restaurants to be close to campus
I: This can be imitated because other restaurants are open close to campus.
N: This cannot be substituted.
3. Delivery Service
V: This is very valuable because not a lot of student will want to go to the actual restaurants to pick up their food.
R: This is not rare for restaurants to have a delivery service.
I: It can be imitated because any restaurant can open up a delivery service
N: It cannot be substituted
4. Support of student organizations
V: Getting the support of student organizations would be very valuable, it would cause students to be more involved in the product.
R: It is not rare for student organizations to promote a particular product
I: It cannot be imitated.
N: It could be substituted by the support of a different organization.
5. Give samples out at the start of the business
V: I think this is a very valuable resource because it keeps people coming back, plus every college student loves free food.
R: It is not rare for a restaurant to give out free food to promote their company, especially at the beginning.
I: It could be imitated by competitors who want to get their product displayed
N: It could be substituted by not giving out free samples.
6. My capabilities
V: I think my capabilities to be outgoing and meet people would help me start the business
R: It is not rare for the owner of the company to be extremely outgoing
I: It could be imitated by other owners and entrepreneurs.
N: It can't really be substituted.
7. Using an app and website
V: Making an app to be able to order food online would be beneficial to the company as many students use technolofy
R: It is not rare to find apps for companies who deliver food
I: It could be imitated by other companies who have a similar idea
N: It could be substituted by a website or promotional ads
8. Contacts
V: Having the right contacts can really help your business take off
R: It is not rare to use the contacts you have to make for a better company
I: No, different contacts allow you to do different things within your company.
N: Yes, it can be substituted. People are always networking.
9. Leadership
V: I have taken on many leadership roles that would allow be to play an important role in the company
R: It is not rare to have leadership skills.
I: I use my leadership skills in my schoolwork, and social life.
N: Leadership is a quality that really cannot be substituted.
10. Public Speaking Experience
V: Having public speaking experience will be a huge plus to start this company.
R: It is not rare, a lot of great entrepreneurs have good public speaking skills
I: It can be imitated
N: It can't be substituted, having public speaking is vital for the company.
I think that most valuable resource is the contacts that you have. I think when starting any business or product idea you have to know someone who has some sort of experience in the area of work that you are trying to get into in order to have a successful product. In this case, I think that knowing people in the food industry and also in the social media world would help my product the most.
Friday, November 3, 2017
20A - Growing Your Social Capital
1. Andrew, who manages a restaurant. He has been managing it for 10 years now, and has had a lot of experience catering to different groups of people.
2. Domain expert. Andrew knows the market of managing a restaurant and interacting with a variety of customers very well.
3. Andrew is a family friend. I have known him for awhile. I reached out to him via text message and told him about my entrepreneurship class and my ideas.
4. They told me that I could come to them with any questions I had about my idea and that I could come into his restaurant and shadow him if i were to pursue this idea.
5. Including him in my idea would allow me to actually follow through with it and have a reference to contact if I ever had a question or came across a new idea.
1. Steve, who manages a bar in gainesville. I chose Steve because he was located in gainesville and would be able to relate to catering to college students needs.
2. Market expert. Steve knows the market of gainesville really well and what the young students are looking for.
3. I simply was talking to the manager about my idea for my entrepreneurship class. I spoke to him in person.
4. They said that college students can be tricky to please because we constantly change what we like to do, however since I am in college coming up with an idea like this could be more successful.
5. Including him in my idea would allow me to go to him with questions when it comes to the young generation in gainesville and how to be a successful business in a college town.
1. Andrea, a supplier for organic vegetables. I chose her because she knows which restaurants order organic foods.
2. Supplier. Andrea supplies foods to local restaurants that order organic vegrables.
3. I asked a local restaurant that uses organic vegetables where they get them, and contacted the company via email and told them about my idea.
4. They told me I could use them as a supplier if i were to follow thorough with my idea an gave me the names of other places that i could go to.
5. Including her in my idea would allow me to put my ideas to practice by ordering healthy and inexpensive food.
Reflection:
I believe this experience has made me more intrigued to attend more networking events in the future. Although I don't plan on following through with my idea, I would be interested in learning about other ideas and hearing about other people success.
2. Domain expert. Andrew knows the market of managing a restaurant and interacting with a variety of customers very well.
3. Andrew is a family friend. I have known him for awhile. I reached out to him via text message and told him about my entrepreneurship class and my ideas.
4. They told me that I could come to them with any questions I had about my idea and that I could come into his restaurant and shadow him if i were to pursue this idea.
5. Including him in my idea would allow me to actually follow through with it and have a reference to contact if I ever had a question or came across a new idea.
1. Steve, who manages a bar in gainesville. I chose Steve because he was located in gainesville and would be able to relate to catering to college students needs.
2. Market expert. Steve knows the market of gainesville really well and what the young students are looking for.
3. I simply was talking to the manager about my idea for my entrepreneurship class. I spoke to him in person.
4. They said that college students can be tricky to please because we constantly change what we like to do, however since I am in college coming up with an idea like this could be more successful.
5. Including him in my idea would allow me to go to him with questions when it comes to the young generation in gainesville and how to be a successful business in a college town.
1. Andrea, a supplier for organic vegetables. I chose her because she knows which restaurants order organic foods.
2. Supplier. Andrea supplies foods to local restaurants that order organic vegrables.
3. I asked a local restaurant that uses organic vegetables where they get them, and contacted the company via email and told them about my idea.
4. They told me I could use them as a supplier if i were to follow thorough with my idea an gave me the names of other places that i could go to.
5. Including her in my idea would allow me to put my ideas to practice by ordering healthy and inexpensive food.
Reflection:
I believe this experience has made me more intrigued to attend more networking events in the future. Although I don't plan on following through with my idea, I would be interested in learning about other ideas and hearing about other people success.
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