Assignment 30A- Final Reflection

1. This class definitely provided me with a lot of moments throughout the semester. In terms of lows, I believe the beginning of finding out opportunities and writing up little summaries were tedious and almost a waste of time at first. But, as the class started continuing, I realized that there was a purpose and it was actually incredibly useful. The rest of the class after that got a lot better, and I have been enjoying it ever since.

2. For me, both my most formative and joyous experience revolves around the Elevator pitch. The first pitch was the most formative, it reminded me how bad of a public speaker I was and how I really needed to improve my skills. The 3rd was the most joyous because you could see that you are getting better in such a short time, that you feel more comfortable in front of the camera. I think the act of posting a video for everyone to see and critique was really beneficial in showing that it is not such a big deal after all.

3. I believe I have more of an entrepreneurial mindset, but I am not an entrepreneur yet. In order for me to become an entrepreneur I would need to start acting on the thoughts I have written out during this class. I think this class sets the perfect mind frame and plan for how to begin being an entrepreneur, but at the end, you have to do it yourself.

4. I would say my one recommendation is to actually act on the ideas you have presented in your blog. I believe actually doing something will make this class infinitely times more productive for yourself. That is what i would personally recommend. 

Assignment 28A- Your Exit Strategy

1. My exit strategy would be to build the business up from Gainesville first, then move from college city to city and try to keep building the business up. I would try to create a large corporation that runs rentals for college students. After that point, I would most likely retire and pass down the business to someone in my family.

2. I chose this exit strategy because it requires the longest time, but has the greatest reward. If something works in Gainesville, I want to replicate that in other cities and expand my existing business. I am the type of person where I like to obsess over things and do as much of it as I can. Just doing this project and selling it in 5 years when it is somewhat popular is not what I am here to do. Also, I like the idea of working on something that is my own, reaping all of the rewards. I do not want to work for someone else's business and make them rich.

3. It definitely has implications on the decisions the firm makes. My business decisions revolve around patience and reputation. Since I am here for the long-game, I need to be swift and aggressive while also knowing that I have all the time in the world to work and get better. It is that yin and yang which is so important in business.

Reading Reflection No.3

The Book I chose was Mindset: The New Psychology of Success.

1. The main argument in the book is that there are two different kinds of mindsets: growth and fixed. A fixed mindset is someone who believes their abilities are pre-determined and that regardless of what they do, they will remain the same. This can be thought of as the "genetics" argument or "you get what you get and you don't get upset." The other kind of mindset, the one most successful people have is a growth mindset, the belief that you can get better and that you're abilities are not pre-determined. The book explores who the growth mindset is the way to go if you want to be successful.

2. The book definitely enhanced the idea in the class that you will suck at things when you first do it, but you will get better. It is exactly like the elevator pitch. The first one is awkward and pretty nerve-racking for most, but by the third it is so much easier and you are so much more fluid. It is living proof that you get better at things, that the growth mindset is what entrepreneurs need to have.

3. If I had an exercise for this class based on the book it would be one where people take something they believe they are horrible at and make them do it for one month with a growth mindset and see what happens. Say for example, I believe I am just a horrible dancer and cannot change it. I would have to go to a dancing studio for one month straight and believe I can get better and see what happens. I think if you make that exercise, students would see just how wrong they are in their ideas of what they are good and bad it.

4. I think  the biggest "aha" moment I had was the fact that even people we think of as the greatest in their field did not start out that way. Even Michael Jordan did not begin his basketball career as the greatest player in the NBA. I think its the fact that reading this book makes you realize just how important work and consistency is at making you really good at something. It is amazing to me that these people we idolize and look up to were probably not that amazing when they first started, but worked harder than everyone around them.

Assignment 26A- Celebrating Failure

One of the most pivotal failures that comes into my mind is when I got a D in geometry. In my school we had a teacher who was extremely passionate in her field and decided that anybody who was not good at math was destined in her words "to become a garbage man". Being an 8th grade kid who liked playing video games more than actually sitting down to study, I did horribly in the class. That failure really messed up my personal confidence and how intelligent I believed I was. It made me falsely believe that I was not smart enough to comprehend math or not good enough to get into a good college. 

I did learn something about myself though. I learned that I was more resilient than I thought. When I got into UF I ended up taking Calculus 2 and getting an A even though I never needed to take that course. I wanted to prove to myself that I was not a failure and that I could understand higher level math. What that instance taught me about failure in general is that it can be used as fuel. It fueled me to get into UF and maintain a 4.0 GPA because I wanted to prove to myself and those around me that I could compete intellectually. I do not know if it that is a healthy way to cope with failure, but it definitely helped me study on the days I did not want to. This class did teach me that failure is a positive thing and that failing fast is a perfectly viable option. I am glad I could learn more about myself and recount on my experiences with failure by taking this course. 

Assignment 24A- Venture Concept No.1

Opportunity: My opportunity lies in assisting college students in Gainesville with paying for summer rentals when they will not nor will they need their rentals during the summer months. The forces that create this dilemma are simple: landlords are trying to maximize as much profit as possible. Students who I have interviewed are tired of this current situation, yet they use acceptance or what I like to call "It is what it is" in order to diminish the need. What I love about this opportunity is that it brings to light an unsolved need that people forget they even had. Most people already hate the management and rental situation they are already put in, so naturally they do not have much loyalty altogether. This opportunity is relatively big as it can capture a large part of the rental market in Gainesville, but also we must remember it is narrowed down to Gainesville locals only. This window of opportunity will be available until another student think of this idea and acts on it because landlords and leasing companies will never move away from maximum profit.

Innovation: My innovation is simple, create a flexible contract where Students do not have to pay for 12 month contracts if they do not like. The idea is to take the rental amounts landlords will lose during the summer months and allocate an agreed upon percentage to the rest of the months. For example, if a landlord were to be losing 2000 dollars that summer, the agreed upon contract would state that half of that lost money will be spread across the 8 months students do pay. Thus students would pay 125 more dollars per month (1000/8), but not have to pay for the summer. Now understandably, landlords will not like this proposition because they are losing money. That is why my company would own a small apartment building and begin with this idea to show the consumer demand for it.

Venture Concept: It is very easy to see why customers would switch very easily to my idea, they save money and get more freedom. Students already need to live somewhere, so it makes sense to take away customers who are in worse situations and bring them to mine. It is also important to note that this venture will not work out if two things happen: customers do not find out about us and competitors quickly adopt this reform. My competitors in this scenario are the large leasing companies such as Trimark. Since I believe their weaknesses include a lack of response to customer feedback and a slow action time, I think I will be able to attack quickly and gain attention in consumers minds. In terms of product display, the most important things will be price and advertising. Customers need to know that we exist and that we are the cheapest available option. The segment I am going for is the student who uses their own money to pay for college, and who is looking for the cheapest option that will satisfy their basic needs of living in a college town. Comparatively, I am the Spirit Airlines of Gainesville rentals. Ideally, this venture would include student employees who have a far outreach such as large instagrams or snapchats. I would pay them to advertise my living area so that I could create customer awareness and later customer demand.

Minor Details: My most important resource will definitely be speed. I need to move so fast that my competitors are stunned and have already lost market share. I also need to be quick in responding to customer feedback and making sure everything I promise gets done quickly. After solving this issue of summer month rentals, I hope that my venture will move on to looking at other component parts of a contract. Specifically, I hope to negotiate items such as electricity bills, water, etc. to make a more custom rental experience. Lastly, if I were to launch this venture I would hope that in 5 years I have created a whole new rental experience where I am the market leader in Gainesville and can move my product to other larger cities such as Miami.

Assignment 25A- What's Next?

Existing Market: After speaking with people in my existing market, they seemed to be hung up on the idea of flexibility in their rentals. Most people believed that there should be more flexibility in how much electricity they have to pay for, or water, or how furnished their place comes. It seems as if the rental market wants more choice in not just their overall rental payment, but what is being added in to get that calculation.

That got me thinking, what if I could actually include the component costs of the rental price, and allow people to pay more or less depending on what they want. For example, if someone wants slower internet, but cheaper electricity bills, they should be able to have that option afforded to them. Most condos or buildings just assume that all people want the same thing. They end up charging everyone for parking when they may not need it, or expensive internet when they tend to use the library mostly. I think the future of my venture would be to make a lot more things in a rental contract custom and able to be negotiated online. Something that maintains the landlords profit margin, but allows people to get creative with how they want to live.

New Market: In terms of the new market, people believe I have the opportunity to sell the rental idea to the landlords or businesses without having to incur the fixed costs of actually paying for land and apartments. If I could create a program or site that would adjust your monthly prices so that you save money from paying for the summer months while still allowing landlords to maintain a level of profit, it could be a happy medium.

That being said, I think it is a harder market to pursue for sure. I think businesses are stuck in their ways and no one has challenged them yet. I think I would first need to create a huge consumer demand because most companies probably feel the demand for this is not as high as they believe. So, probably expanding my existing market is the better idea than going into a new one.

Assignment 23A- Your Venture's Unfair Advantage

1. Since I am a the first entrant proposing this idea, speed to the market.
Valuable: I believe it is incredibly valuable to be first because it gives you the power to make the first decisions, set the standards, and gain market share.
Rare: Since I am the first one doing the idea, it definitely is rare.
Inimitable: This idea could be copied, which is why speed to market is extremely important.
Non-substitute: There is no substitute that I can think of that provides the same benefits as being first to the market.

2. Ability to reason logically rather than emotionally.
Valuable: Incredibly valuable, emotions plague decision making and lead to bad consequences.
Rare: I believe it is rare to find people who do not let their emotions interfere with their rationality.
Inimitable: A person could theoretically think the same way, but it is very hard to start doing so when you are used to using emotion.
Non- substitute: There is no substitute for good old-fashioned logic.

3.  Smaller sized firm which could adapt more easily.
Valuable: I think when competing with larger real-estate firms and brokers, it is incredibly important to be able to move quickly and answer to customer feedback swiftly.
Rare: In Gainesville, it is rare to see a small firm making an impact in the real-estate market.
Inimitable: Any small firm could crop out and start competing, no doubt.
Non-substitute: I guess a large corporation could provide smaller divisions which could act in the same manner, although it would still be difficult.

4. Access to successful real-estate brokers and agents.
Valuable: Real-estate agents and brokers know the most about what customers want in a certain area.
Rare: To ask for feedback from agents and brokers, I do not know how rare it is.
Inimitable: Anyone could create relationships with brokers and agents, but they cannot re-create my specific relationships.
Non-substitute: Creating customer surveys could provide you with customer info.

5. College students from UF and Santa Fe are employees.
Valuable: Since college students are our customer base, it makes sense to employ some that understand the market.
Rare: In Gainesville, I believe it is rare to have only students work for you.
Inimitable: You could hire students, but I plan to hire the best ones that you can not imitate.
Non-substitute: There is no substitute to a knowledgeable work force.

6. Open corporate culture where everyone's opinions matter.
Valuable: Since I believe the best ideas can come from anyone you employ, I believe it is highly valuable to create an open corporate culture.
Rare: Extremely rare, most companies use a formal hierarchy.
Inimitable: This structure can be copied, but people like their power so I dont know how willing they would be.
Non-substitute: Not that I can think of.

7. Social Media Marketing
Valuable: Since everyone's attention is on their phones, social media marketing is the best way to get to them.
Rare: It is not rare to see social media marketing, but it is rare to see it done well and consistently.
Inimitable: Anyone can make social media accounts, so you must be posting the highest quality things.
Non-substitute: Theoretically, you could use traditional marketing, although I do not think it is nearly as effective.

8. Good Written and Oral Communication Skills:
Valuable: To effectively communicate is a highly valuable skill.
Rare: I would say it is not extremely rare but somewhat rare to find people who truly are good communicators.
Inimitable: You can definitely get good communication skills, so it is something you can copy.
Non-substitute: No, there is no substitute for good communication skills.

9. Thorough understanding of the market.
Valuable: To understand your market is everything. It is the starting point for any good business.
Rare: I think these days in Gainesville it is rare for businesses to understand the needs of college students.
Inimitable: Its hard to stay up to date on trends and feedback from students as a larger business.
Non-substitute: No, without an understanding your business will fail.

10. Incentive based pay and benefits
Valuable: I believe if  you tie a persons pay to their performance, they feel more empowered and will do more for the company.
Rare: It is not too rare to see incentive based pay, especially in real-estate.
Inimitable: Easily copied.
Non-substitute: A good salary could provide the same benefits, but you could end up over-paying.

I think my best resource is definitely my speed to market. I believe without speed to market, the whole idea is something that can be copied by a larger firm before I get a chance to really break ground. Since the real-estate market is definitely something slow moving, a firm that enters quickly will probably not truly be affected for quite some time. This gives us the opportunity to start taking customers and market share before anyone else reacts.

Assignment 22A- Elevator Pitch No.3

Yeah, I definitely think practice makes perfect. Last pitch I had feedback that it was much better, so it gave me confidence to keep going and do even better again. This time the pitch was 60 seconds, so I had to speed up and really try not to stumble when making my pitch. I was a bit over the time limit which is something I will have to work on. No feedback was silly, and mostly all were very positive saying I was doing better. I think the exposure effect of being in front of a camera helps a lot in making better pitches. It is crazy how less awkward it feels the 3rd time around. It still feels a bit uncomfortable, but not merely as bad as the first time. 

Assignment 20A- Growing Your Social Capital

Domain Expert: The person I spoke to whom I consider an expert in the real estate domain is my good friends father Marat. Marat owns a real estate company and is a real estate broker so he is very knowledgeable on contracts, business setups, etc. I found him by basically asking my friend if I could speak to him about my entrepreneurial idea and to learn a little bit about the behind of the scenes of the industry. He told me that the idea is solid, but he is worried about how I am going to remain profitable If I am losing months of rent while still maintaining relatively large fixed costs. Additionally, he explained a bit that real estate moves very slowly and to remain patient even if it seems the market is not accepting my product or idea. In exchange I listed respectfully and thanked him, there was no monetary or return expectation necessary. Including Marat in my network as someone I can ask for advice will definitely allow me to gain additional insights and alternative points of view before making large decisions.

Market Expert: The person who I chose to be my market expert is actually my brothers friend Chris. Chris is a real estate agent in Miami, having done a considerable amount of deals. He is very knowledgeable on customer needs and wants, and how to market an idea to a customer. I told Chris about my product and he was actually pretty shocked no one else had done it already. In miami, there are a lot more flexible contracts in  terms of renting and he was surprised it was not commonplace in a college town especially. He also indicated the need for me to up my social media game and start creating a personal brand in order to help grow a following and eventually a customer base. In return, I bought him some Chipotle. Keeping him in my network will help a lot with marketing as he is someone who has created a significant following on Instagram himself.

Supply Expert: In terms of suppliers, I spoke to my brothers friend Kevin who is a lawyer who deals mostly with contracts. He supplies a lot of the contracts and negotiating terms for corporate real estate buyers and sellers and for huge condos. I got into contact with him through my brother. He told me there is basically nothing legally tricky about my idea, and its a fairly straight forward solution I can implement as soon as possible. Keeping kevin in my circle will hopefully allow me to get some legal advice if I ever need it in the future.

Reflection: I realized that my social network is not very strong and that my brother actually is a lot better at networking then I am. That being said, this experience definitely showcased to me that I need to get more involved in clubs and organizations to start building my social network myself. Since i never really networked, I dont have any other experiences, yet I can say it was very challenging yet rewarding. There are a lot of people who can give advice, but only a select few who can give truly great advice.

Assignment 21A- Reading Reflection No. 2

Book Title: How To Fail at Everything and Still Win Big:

1. Central Theme: I would argue that this book does not have one general theme, but many different themes. If I had to paint with a broad brush, I would say that the theme I took from the book is that failure is something that should be embraced and seen as a stepping stone to success and the fact that you must do things in your life that maximizes your personal energy. It all starts with yourself, which includes your health, thoughts, etc.

2. I think the book really complemented the idea that failure is inevitable and something we should not look at as a problem, but rather something very attractive. In this course and in the book, the author talks about how things you learn that are seemingly pointless today may actually become incredibly important in the future. It reminds me of the idea where Steve Jobs took a calligraphy course in college that seemingly had nothing to do with computers, but ended up being a competitive advantage for Apple in the future.

3. I think the best exercise the author spoke about  was the difference between systems and goals. I would make an exercise where I would tell students to instead of writing down their goals for their companies, write down what they need to do everyday on a consistent high-level in order to be successful. I would ask them to think about the process rather than the finish line to help with their entrepreneurial ideas.

4. I think the biggest 'aha' moment for me was that it might actually be better to be a jack of all trades. Growing up, I thought it was for sure always better to be the best at one specific, narrow field. This book opened up the idea to me that maybe success is found rather in being above average at a plethora of things instead of being the best at one thing. I think that point really stood out to me personally and really granted insight to me.

Assignment 19A- Idea Napkin No. 2

Who I am: I am a college student who attends the University of Florida. I like to believe my talents include being a logical thinker and ability to grasp information and feedback relatively quickly. My skills include being an innovative thinker and an ability to not get emotional when it comes to anything in business. In regards to my business concept, I see my business playing a huge role in my life. It would allow me to become a customer of my own product, benefiting from the lower costs I want to bring to the market.

What am I offering: My product is a flexible contract which will allow students to not have to pay for summer months rental prices if they do not wish to.

Who I am offering it to: My customers all share one common thing: location. You must live in Gainesville to utilize my product and be a college aged student. Beyond that, there is nothing special or any requirements that you need to utilize my product.

Why they care: They care because they will save money on renting and allow them to have more freedom in how they use their time.

Core competencies: My core competency would be my ability to think differently and challenge traditional thinking. Having that competency allows me to move first, something that is incredibly important in any business endeavor.

I believe all of my elements fit together extremely well. I believe since my concept is relatively simple, its something that is universally appealing. There is nothing that particularly differentiates it or requires a certain customer  type, mostly anyone in Gainesville fits. Since I also have the problem, I understand the why and how my core competencies help my business. Overall, I do think the elements fit together nicely.

Feedback Memo: Two main points I took away are be simple and be fast. In terms of simplicity, I made  sure to make it very easy for anyone to understand my business idea. In terms of speed, I made sure to point out the fact that it is my core competency. Simplicity and speed is what makes my business idea viable and able to be implemented in the market. 

Assignment 16A- Whats your secret sauce?

Five Ways I believe I am different:
1. My ability to reason rationally and not let my emotions over-ride my logic.
2. My ability to work harder than everyone around me when I am passionate about something.
3. Accepting when I dont know something, and learning from others.
4. Constantly trying to grow and get better, not letting myself get content with average or whats good now.
5. Constantly searching the market and staying in tune with customer feedback.

1st interview: The 1st interviewee describes my ability to search my environment effectively. Additionally, he describes my ability to expose weaknesses for the better. 

2nd Interview: The second person describes my grit and persistence. They ultimately describe that I do not like giving up, and will try until I succeed. 

3rd Interview: The 3rd person describes my ability to use logic and reasoning. Essentially stating I know how to find solutions to problems. 

4th Interview: The fourth person states I am an effective team builder. I know how to get people together for the greater good. 

5th Interview: The last person states I am good at responding in critical situations. I know how to respond swiftly and appropriately. 

I believe the way others see me and the way I see myself are very accurate. I think I am a persistent, hard working person who likes to rely on logical solutions. I believe the interviews emphasize that well. I would not make any corrections to my list as I believe they were very closely aligned to what was stated. I am actually very happy that the self awareness that I have actually aligns with people's beliefs about me. If there was a large difference, that would be a problem. In terms of weaknesses, I think it is important to note that no one should I had a great ability to connect or create interpersonal relationships. Thats something that I also notice within myself and know that I have to fix in order to be truly an effective leader. 

Assignment 18A- Create a Customer Avatar

My prototypical customer is a college student that attends the University of Florida or  Santa Fe and is between the age of 18 and 25. They are not taking summer classes and do not live in Gainesville. They want to live off-campus but are worried about paying for summer months. They are definitely financially responsible and sensible, looking for the best options for themselves. They are not a part of a fraternity or sorority where they are given housing either. They would prefer to leave Gainesville during the summer and go home to be with their family, but feel bad about paying for something they don't use. I definitely fall into the prototypical customer because I first identified my own unmet need before coming up with this idea. It is definitely not a coincidence that this is occurs. Since my idea is not a specific product or tangible good, it does not require a very specific customer type. What that means is that almost all student who attend university in Gainesville suffer with these problems, creating a great base of potential customers and high demand.

Assignment 17A- Elevator Pitch No.2

I thought the feedback that was most useful was to speak a little longer because my last pitch was a little too short. Also, people tended to like the tone I used and how it sounded, so i tried to keep that stable as well. Most of the feedback I assumed was very positive, so I tried to just repeat what I did but make sure I hit the time requirement. None of the feedback was silly thankfully so everything was constructive. I think this time it felt a little more natural, and hopefully will continue to get better and better.

Assignment 15A- Figuring Out Buyer Behavior No. 2

Alternative Evaluation: According to my interviews with Gainesville Students who lease off campus housing, price and location are the two most important aspects when deciding where to live. Usually, there is a tradeoff in Gainesville between being closer to the school and having to pay more money to rent. Depending on the students budget and specific desires, the student would go online and find options suitable to their search criteria. Once, that has been done, they look at peer reviews and ask friends and family for advice. There has been numerous times people have liked a property but because their friends told them it was not a great place to live, they never looked back. Your property must be appropriately priced, not too far from the school, and have positive word of mouth.

How/ Where you buy: This process is relatively uniform for everyone. If you wanted to sign a lease, you would go to the leasing office, tour the place, and then sign a contract. Most likely, the price would be non-negotiable, especially for places that are commonly sought after in the area.

Post- Purchase: Most of the time when students lease housing, they don't necessarily look for the positives of the home, only that there are not any negatives. For example, if your neighbors are quiet, the internet is reliable, and maintenance is quick and efficient, you could live in a low quality home and still be very happy with your purchase. Whats most important for college students is that everything works, and when they do have a problem, it is resolved in a timely manner.

Conclusion: In conclusion, students look for appropriately priced, relatively close schools with a positive word of mouth. Almost all students use leasing offices to sign a contract for a 12 month lease. As long as the students get what they were promised and do not get bothered excessively, they believe their purchase was a good one.

Assignment 14A- Halfway Reflection

1. Competency: What most helps to keep up with the course is to dedicate time out of your day to work on it. Mostly, I tell myself on Thursday I am going to give myself a few hours to complete the assignments I must get done. When something becomes a habit, it becomes less about forcing yourself to do it because you become used to it. That's why the first few weeks of school are the most difficult because you do not have the habits in place.

2. Attitude: I do not remember the last time I felt like giving up if i were to be truthful. I always believe that with time and hard work you can become good at anything you put your mind to. That belief and attitude has served me well because when others want to quit, I see that I am close to getting over the learning curve. I believe my grandparents instilled a tenacious attitude into me growing up because I always saw them working hard and fighting for what they believe in. As immigrants who came to this country with nothing, they did anything they could to succeed and would not allow themselves to give up as they knew they had a family to support.

3. Three tips:
1. Believe you can always get better if you work harder.
2. Put things in context. When you feel like giving up, think about how lucky you are to have the opportunities awarded to you.
3. Understand that giving up is your choice and can lead to serious consequences.

Assignment 13A - Reading Reflection 1

Book Title: Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future

1. What Surprised me the most: What surprised me the most about Elon Musk is his ability to succeed and achieve in fields that seem unrelated. Specifically, the ability to tackle online banking, solar energy, space travel, and electric cars seems impossible for any one human. I guess what I am alluding to is that i was surprised by the brilliance and ambition of Elon musk even when I already knew of him previously.

What I most Admired: The thing I most admired about Elon Musk is his risk taking even when he already achieved success. After becoming a billionaire through pay-pal, the fact that Elon tied up almost all of his assets into the Space-X startup was what I most admired. If I were to become a billionaire I do not know if I would be willing to take another such large risk in order for me to continue pursuing my wild goals. That aspect really stuck out to me particularly.

What I least admired: What I least admired isn't necessarily Elon's fault but it is that Elon seemed not fulfilled with his life and goals. It seemed as if he was constantly looking forward and thinking about new inventions and aspirations instead of realizing how much he has achieved and done for the world. So i would say I least admired his ability to take a step back and realize how great he truly is, despite how ironic it sounds.

Adversity and Failure: Elon's whole life is basically about adversity and failure. What particularly stuck out to me was Space X's first three failures. Elon was out of money, having to borrow a loan in order to finance his last launch effort. If he were not able to successfully launch that rocket, his company would have been over. His ability to perform with grace and poise under that stress and demand mentally was something I correlated wit his overall success as an entrepreneur.


2. Competencies: The two competencies Elon has is what makes every person successful, talent and hard work. Elon was obviously born very gifted, but also spent hours daily as a kid through adulthood constantly reading, thinking, and refining his inventions and pursuits .Even now, he is known to work 80-100 hour work weeks and constantly stays up to date with new technology. Additionally, his rationality is what also makes him special. Some would define it as cold or unemotional, but it is actually perfect in business to remain calm and collected.

3. Confusing part: What confused me throughout the whole book was how Elon is able to learn and synthesize all of the information he digests. From my own perspective, it does not make sense how one human being can revolutionize so many industries and transform so much of our daily lives. I was confused and jealous how he his mind works and why he is able to understand such esoteric and difficult subjects in many fields.

4. Two questions: Number 1: What is your method for learning new information? Do you visualize, explain it to yourself, what is your secret?
Number 2: Do you believe talent or hard work is more important in learning?

5. 100 percent, Elon believes you must work hard to succeed. There is no doubt in my mind that he believes without hard work you cannot succeed. I completely agree with him. Its very simple to understand that if everyone else is working 40 hours per week and you are working 80, you are going to have an edge.

Assignment 12A- Figuring Out Buyer Behavior No. 1

Segment: The segment I am targeting is students in Gainesville. Specifically, I interviewed three people who all reside in Gainesville. One student is a Female that attends Santa Fe while the other two are males who attend the University of Florida. All three are specifically not wanting to stay in Gainesville this summer and still have to pay rent. They fit my segment perfectly.

What I learned: While speaking to all three interviewees I realized that their needs are all fairly similar. All of their needs begin in the spring semester and end during the summer where they have to look for new leasing for next year while also having to find out how to pay for their current summer rent. The need is extremely predictable which is important because it could help me or another business figure out when is the best time to advertise and go after students demand for housing. This need does not apply to freshman because they tend to live in dorms their first years, although it may apply to a few. In terms of information search, there are basically two main categories, the internet and family/friends. Students tend to search online for rentals through google and also try to ask their peers and family members where they believe the student should live. Not surprisingly, word of mouth is an extremely valuable resource for info on Gainesville rentals. Their google searches tend to be "gainesville off campus rentals" and they try to filter for fall and spring only leases, yet they mostly are unsuccessful.

Description of segment: I would describe this segments as having  a seasonal need which begins in spring and ends in the summer. To solve this need, the segment will either use the internet, friends and family, or a mixture of both. Word of mouth is crucial for a customer to be able to identify and want to rent at your apartment or home.

Assignment 11A- Idea Napkin No. 1

1. You: I am a college student at UF who shares the same frustrations with rentals and leases as everyone else does. My talents and skills as it pertains to my business idea is a strong motivation to fix something I believe to be unjust and the ability to think outside of the box and create novel solutions to fit this unmatched need. My aspiration is simple: create off campus contracts that do not include summer months if the student does not want it. If my business were to be created and flourish, it would not only help me financially, it would help hundreds to potentially thousands of students in Gainesville alone.

2. Offering: I am offering alternative rentals for college students that do not include the summer months if the student does not wish to pay for it.

3. Who I am offering it to: I am offering it to any student in Gainesville looking for off campus housing. The only commonality my customers have is that they are located i n the same rental market.

4. Why do they care: My customers care because it will save them money and increase their freedom. The two aspects my service provides if financial and emotional. Financially, students will save money in the long run. Emotionally, it will make them feel more empowered and less restrained during the summer months.

5. Core competencies: The two things that  will set us apart is speed and being attuned to customer feedback. Too many businesses in Gainesville do not listen to their customers and are too slow in enacting new policies. People change, so businesses have to as well.

I personally believe all these elements fit together perfectly. I represent what I am offering, meaning I would be a customer for my own business. Who I am offering my business to and what I am offering fit together very well because it is simple and extremely well defined. Everyone, including myself would like to save money and feel a greater sense of control in their daily lives. I believe our core competencies reflect that, and the business continues to reflect what young college students are feeling.

Assignment 10A Elevator Pitch 1

Assignment 9A - Testing the Hypothesis, Part 2

Who: Through my interviews I did find students who attended the University of Florida who accepted and were fine with paying for summer months. These students were ones who were taking summer classes, those who lived in on campus dorms, and those with enough social connections to consistently get sub-leases. I would define these students as ones who acknowledge the current system and find ways to either beat it or cope with it successfully.

What: My need specifically addresses overpaying for rent, but this need can definitely more broadly be defined as the need to feel fairness in a paying arrangement or the need to be financially responsible and empowered.

Why: Yes, i think there is a big difference between those inside the boundary and those outside. From the people who I interviewed, those who controlled their finances more felt more upset and personally affected by overpaying whereas students whose parents took care of the finances did not nearly care as much. One group sees it as just something you must accept whereas the other group sees it as an unnecessary evil they would love to change.

                  Inside the boundary                                                Outside the Boundary:

Who:  UF and Santa Fe students who                                    On campus students, students taking
do not want to pay for summer months                                   summer classes, those who get sub-
they are not utilizing.                                                               leases.

What: The need to feel empowerment                                   Accepting certain situations.                      and save on your finances during the
college years.

Why:  Students who are on a tight budget                             Landlords have to get money for all 12
see two or three months rent as a huge expense                     months or it is unfair to them to lease.
they probably would have to work or take a loan
to pay off.

Assignment 8A: Solving The Problem

Opportunity: Students in Gainesville who attend the University of Florida or Santa Fe and would like to live off campus are subjected to paying for summer months they do not need and do not want to pay for when they are going back home for the summer.

Solution: My solution is simple, yet capital intensive. It would require me to purchase or take over the management of a residential building in Gainesville. After that, we would create contracts where students would have to pay a little more per month, but would not have to pay for any summer months if they do not want to. Understandably, if this goes well, other leasing companies would soon follow but that is why our competitive advantage needs to be the speed at which we implement. In the beginning we charge a little less per month than we want, potentially breaking even or even creating a small loss, but we disrupt the rental market in Gainesville so much that people are bound to hear about us and want to rent.

Assignment 7A- Testing the Hypothesis, Part 1

Opportunity: On campus students who attend the University of Florida and Santa Fe but do not live in Gainesville year round are subjected to over-pricing during the Summer because landlords are trying to maximize profits.

• Who: Students who attend the University of Florida and Santa Fe.
• What: Over-priced for summer terms they neither need nor want to pay for.
• Why: Landlords do not want to have a property not earning any cash during the summer, they are maximizing profits

Testing the who: There are students who attend University who are actually utilizing the summer months to take classes, but a vast majority do not. Additionally, this problem is most likely Gainesville specific because it is a very small city where a few own most of the rental properties.

Testing the what: The boundaries here are mainly that it is summer specific. Additionally, as previously notes, not all students dislike being here for the summer, but there is a large enough group that actually truly dislikes it.

Testing the why: I would say most people dislike it mainly because of financial/ independence reasons. They feel stuck to their contracts and know that if they leave the city, they feel as if they are wasting money. Additionally, many people want to go back home to be with their family or even potentially get a summer job, so having to pay is very unfortunate and unnecessary.

 

Interview 1: This male student attends the University of Florida so they do fall under the who boundary. They currently live off campus and dislike the idea of having to pay for 3-4 months of rent when they are not going to be here. Mainly, this is causing them to debate whether they should stay here for the summer or not, when they truly do want to go home. 

Interview 2: This male student also attends the University of Florida. They are an engineering student and are actually going to stay here for the summer to do courses. Thus, they do not mind having to pay for the summer months but do understand and empathize with others as well.

Interview 3: This female junior attends Santa Fe. They currently live in Tampa and have accepted the fact that they will have to pay for the summer months even though they are not going to be living there. They hate that they have to pay but understand the fact that 12 month leases are the norm. Interestingly, their frustration turns into acceptance because they believe thats just how college is.

Interview 4: This female attends the University of Florida. Interestingly enough, her father was actually going to purchase a property in Gainesville so that she could live there with her friends and split rent with them. When asked about paying for summer months, there wasnt much frustration, most likely because her parents pay for everything. 

Interview 5: Lastly, I interviewed my mother. She does not fall within my who boundary becuase she is not a student, but does hate that I have to pay for the summer. She of course wants me to go home but understands that it would be a waste of money to pay for a room I do not use. She lives in Miami and knows that there is a lot of bargaining within rentals, so she does not understand why you cannot find a fall and spring only semester rental. 

Summary: I found that most people really do struggle with this problem. Something new I learned is that people have basically accepted that they have to pay, but when you bring it up, they get fairly livid. Potentially, a marketing campaign notifying students that they should still at least try to bargain instead of just accepting their leases could help. A lot of people also brought up the valid point that landlords would never accept not getting any money for a whole summer. 

Assignment 6A Identifying Opportunities In Economic & Regulatory Trends

Economic Opportunity #1: Rise of artificial intelligence

• Source: https://www.nytimes.com/2018/01/30/business/economy/populist-politics-globalization.html?rref=collection%2Fsectioncollection%2Fbusiness-economy&action=click&contentCollection=economy&region=stream&module=stream_unit&version=latest&contentPlacement=4&pgtype=sectionfront
• What: This article describes how artificial intelligence is going to take over traditional jobs such as truck driving, packaging, etc. I believe there is an opportunity here to re-train these workers so they do not get displaces and are prepared for new work. If a company was willing to explain the situation to these workers, they could train them to potentially work with AI or some other vocation so they do not become unemployed. An idea such as this one would probably even get subsidies from the government. 
• Who: Any person affected by AI, especially low skilled, repetitive tasks.
• Difficulty: This is definitely a difficult task to undergo because you must first identify which sectors of the economy will be affected the most by AI. Additionally, you have to figure out what jobs these people could do once they are displaced. 
• Why: I believe I saw this opportunity because I remember learning in economics about different types of unemployment and how people are displaced from their jobs, such as those who worked in blockbuster. I always remember saying why isnt the government or a private business telling these people and getting them prepared for what to do next. Its as if we do not want to spread awareness to the people who are going to be the most affected.

Economic Opportunity #2: Growing GDP Rate

• Source: https://www.nytimes.com/2018/01/26/business/economy/gdp-economy.html?rref=collection%2Fsectioncollection%2Fbusiness-economy&action=click&contentCollection=economy&region=stream&module=stream_unit&version=latest&contentPlacement=2&pgtype=sectionfront
• What: This article describes how the US GDP is growing and that consumer spending is steadily increasing. Overall, demand is increasing and consumer confidence is rising. I believe there is an opportunity here for anyone to invest in an index fund. By doing so, you are basically betting that America will do well, and I believe that is a very smart decision.
• Who: Anyone wishing to invest and make money.
• Difficulty: Very easy. Anyone can go online and invest in a low fee index fund and just hold their money. You do not need to know about stocks to win.
• Why: I am now taking a business finance course so I am constantly thinking about investment opportunities. Seeing America doing so well makes me believe more and more that investing in America over the long term will always be profitable.

Regulatory Opportunity #1: Loosening Laws In Saudi Arabia

• Source: http://money.cnn.com/2018/02/01/news/saudi-arabia-women-jobs-passport-control/index.html?iid=hp-stack-dom
• What: This article describes how 107,000 women applied for a job with only 140 available positions. This showcases that women in this area are eager to get to work. I believe there could be an opportunity here to outsource American jobs to that area. With such a large potential labor force, companies can most likely get really great priced labor. 
• Who: Any company wishing to lower prices.
• Difficulty: Potentially difficult. Whether or not the Saudi Arabian government would allow its women to work for American jobs is very hard to say. Probably not in the short term, but I do believe in the long term it could be very possible.
• Why: Again, I am thinking of economics here. You have such a high demand of women who want jobs, with such little supply. This is a classic case of shortages. Any business or government could cash in on this huge supply of labor, having more latitude on pay, benefits, etc. I think its a smart business move.

Regulatory Opportunity #2: Federal Spending On Infrastructure

• Source: https://www.nytimes.com/2018/01/31/us/politics/trump-infrastructure-plan.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news
• What: This article describes how Trump wants to spend 1.2 billion on fixing Americas infrastructure. The problem is that Congress does not know how to get that kind of money to spend. The opportunity here is simple, be the company that could tell the government, we can do it cheaper.
• Who: Any company who has the resources to competitively bid on such a project.
• Difficulty: Very hard. You would need to be a huge corporation. 
• Why: As a person who reads the news fairly regularly, I am tired of watching Congress basically argue over the same things. I believe the government is horrible at doing these kinds of programs. I would love to see a private company come in and do it for much less. 

Assignment 4A: Forming an Opportunity Belief

I believe there is an opportunity in Gainesville to provide off campus housing to students who only want Fall and Spring Semester Contracts, and not 12-month contracts. After doing a lot of research, there is barely any rentals that are not 12-month contracts. This creates a problem because a lot of students actually want to go home for summer break and will end up either paying for rooms they do not use or staying in Gainesville because they don’t want to feel as if they are losing money. Dorms provide these kinds of contracts, but most people after their freshman year do not want to stay in a dorm and would like to live off campus. If we could provide the amenities and luxury of off campus housing with the flexibility of an on-campus contract, I think it would be a huge disruption and opportunity in the rental market.

#1 Sophomore Male Who Lives Off Campus:

1.      Are you staying in Gainesville this summer? Possibly.

2.      Do you have a 12 month rental? Yes.

3.      If you are staying in Gainesville this summer, why? Catch up on courses.

4.      Do you prefer on campus housing or off campus housing? I prefer off campus housing that is close to campus.

5.      Would you like to be able to have Fall and Spring only rentals instead of your current rental? If so, why? Most definitely because a 12 month rental creates unnecessary stress. It forces you to either stay for the summer, try to sublease, or pay rent for a place you are not even living in.

#2 Junior Male Who Lives Off Campus:

1.      Are you staying in Gainesville this summer? No.

2.      Do you have a 12 month rental? Yes.

3.      If you are staying in Gainesville this summer, why? Not applicable.

4.      Do you prefer on campus housing or off campus housing? Definitely off campus. I hated the dorm beds and lack of space, it felt like a prison.

5.      Would you like to be able to have Fall and Spring only rentals instead of your current rental? Yes, I would love that. When I leave for Miami this summer, I am going to have to pay for rent I am not using.

#3 Sophomore Female Who Lives Off Campus:

1.      Are you staying in Gainesville this summer? No.

2.      Do you have a 12 month rental? Yes.

3.      If you are staying in Gainesville this summer, why? Not applicable.

4.      Do you prefer on campus housing or off campus housing? Off campus. I like living with my friends, and feeling more freedom than on campus.

5.      Would you like to be able to have Fall and Spring only rentals instead of your current rental? For sure. There are not many of those options available at all. It would save me a lot of money.

Reflection: I learned that people actually really agree with the idea. Most surprisingly, people actually went on rants about how annoying it is, although I did not include it. People seem to really hate the fact that they are forced to pay when most don’t want to.

Summary: I think all of my original opportunity is still there in terms of demand. Although my sample size was extremely small, I am constantly seeing people post about subleases for the summer. Its because so common these days, people forget to even question why we have it in a college town in the first place. I don’t know if my opportunity is more accurate now, but I do believe it is more justified now. In terms of feedback, I believe entrepreneurs who do not adapt are going to fail. If you can’t take criticism or alternative opinions, you are not serving your customer base. Part of what makes a small business threatening to a corporation is their ability to transition and not remain firm. People change, so ideas must change as well.

Assignment 5A- Identifying local opportunities

1.     1. Trump tax cut might keep the cost of craft beer down — or put it out of business

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A2F3144196C58?p=WORLDNEWS

This article describes how small craft breweries are excited about trumps tax cuts because they say it will save them a lot of money and allow them to produce more beer at a lower price. On the surface, it looks as if it is a huge win for small businesses, but it actually may be worse for them than they thought.

Problem: Trumps tax cuts help small craft breweries, but disproportionately helps large beer corporations even more. The article states that those who brew less than 6 million barrels a year will only save 80 million out of the 4.2 billion. Thus, the article highlights how a supposed win for small Miami breweries may be the cause of their downfall.

Who it affects: The problem here is definitely for the small breweries around the country.

2.      2. He messed up on Tinder, so a college freshman emailed every Claudia on campus

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A2F314DE10A20?p=WORLDNEWS

This article showcases an entertaining story on how a college freshman used persistence and a lot of emailing to find a tinder match he lost. The freshman had to e-mail all of the Claudia’s on campus in order to find the one he was looking for. In the end, the freshman at Missouri State found who he was looking and eventually set a date for them to get donuts.

Problem: The problem here is pretty funny but actually something a lot of people struggle with. On tinder, if you swipe the wrong way and do not like the person, it is very unlikely you will ever get a chance to match with them again. Although tinder does have a service where you can go backwards if you messed up, it costs money, and most users only use the free version.

Who it affects: A freshman using the free version of tinder, but actually anyone who uses tinder.

3.   3.   Why is filling up the tank expensive again? Your local gas station isn't the reason

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/16997D89694E8238?p=WORLDNEWS

This article very quickly talks about how gas station prices are rising very quickly and have actually increased 9 cents statewide and 6 cents in Miami just in the past week.

Problem: With the rising cost of oil, and the fact that right now is “refinery maintenance season”, people all over Florida are experiencing gas prices, something that supposedly happens a lot at this time of the year unfortunately.

Who it affects: Anyone in the state who visits a gas station for gas, especially those on a budget where a couple dollars affect them greatly.

4.  4    Gossip Extra - Burnie's hijinks lead to another lawsuit against Miami Heat

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699AF91B3D950C0?p=WORLDNEWS

This article talks about how a guard at American airlines is suing the Miami Heat because the mascot apparently bumped into her in a “negligent” manner. Apparently, the mascot endangers the Heat personnel, so she is suing the Organization.

Problem: The problem here is specific to the woman who was injured, but actually poses a larger question. Should organizations be held responsible when their mascots injure others doing their job? Is it the responsibility of the person to avoid being hurt doing entertainment stunts or should the mascot be more careful?

Who it affects: In this article, specifically a Heat guard who was injured, but potentially any employee who works near entertainers.

5.    5.  A cigarette butt left on a bedroom floor landed a Florida woman in jail

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/16995A3445BBF4E0?p=WORLDNEWS

In this article, a man who evacuated his home during Hurricane Irma actually had been looted by a criminal woman. Fortunately, a cigarette butt left on the floor held DNA which connected police to the criminal to apprehend.

Problem: How do you keep your home secure when you must evacuate it for natural disasters or anything serious?

Who it affects: Anyone who leaves their home for an extended period of time.

Assignment 2A: Bug List

1. The light on Archer Road to turn left near the shell gas station is always slow and has long lines.
Why It Occurs: I believe Gainesville uses an old traffic system where the light only stays on for a pre-determined amount of time instead of adapting to the amount of cars present in the line.

2. The grip on the bottom of my basketball shoes always lose grip quickly, causing me to buy new pairs constantly.
Why It Occurs: When I play on outside basketball courts the abrasive surface on the concrete floor erodes the grip on my shoes very quickly.

3. E-mails and texts do not convey tone of voice and context very well at all.
Why It Occurs: Even with the invention of emoticons, I still feel as if my jokes and statements are often misinterpreted because people cannot see my face.

4. The Wifi in my room is extremely slow.
Why It Occurs: The router is downstairs in the living room which is too far away from my bed in my bedroom to achieve excellent signal.

5. It is very hard for me to cook anything that truly is delicious.
Why It Occurs: Online recipes are way too complicated and there are not many resources out there to help teach low-budget college kids how to create simple, delicious meals.

6. I always end up dehydrated.
Why It Occurs: I dont have any intelligent or interesting way to track my daily water intake, and I end up being dehydrated at the end of the day because I am not consuming enough water.

7. My jeans fit perfectly in the groin area, but end up having way too much fabric in the calf area.
Why it Occurs: Taller men do not have the best options when it comes to choosing jeans, so we end up having to buy a larger waist size which ends up with too much fabric in the calf area.

8.Women on tinder very rarely ever meet up with guys they meet on the app.
Why it Occurs: Women are most likely afraid of men not looking as good as they do online, or being labeled bad words by their peers for meeting up with  a stranger.

9. The same toll free numbers keep calling me and annoying me every day.
Why It Occurs: I don't have a site or app where I can report these numbers to stop calling me, and I do not believe the fines are being enforced on these people.

10. People on PS4 and Xbox One cannot play with each other online.
Why it Occurs: Since sony and microsoft are competing platforms, they do not want users to play with each other although I believe it could benefit both companies actually.

11. A lot of clothing companies do not make shirts for taller individuals.
Why It Occurs: I believe companies haven't realized yet that there is a huge market for extended sizing to fit athletic tall people.

12. A lot of jobs require experience before you can get a job, leaving it hard to get a first job.
Why It Occurs: Employers want employees with experience and recommendations so they are not wasting time and taking a gamble.

13. A lot of business teachers make us buy custom course packs and textbooks which end up being expensive.
Why It Occurs: I believe the school is trying to squeeze extra money from students under the false labeling of "student enrichment".

14. Affordable alcohol usually does not taste good and leaves you feeling horrible.
Why It Occurs: Cheaper alcohol is not distilled as much, causing it to not be as healthy and good tasting.

15. Chipotle raised their prices but their quality has dropped.
Why It Occurs: Chipotle is trying to raise revenue by increasing costs instead of retaining customers by increasing consistency and quality.

16. There is only one small lecture hall for hundreds of students in UF business school courses.
Why It Occurs: I believe UF is trying to cut costs by putting such a large quantity of students in one classroom, which in my opinion, lowers our educational quality.

17. The tolls to get from Miami to Gainesville are fairly expensive on the turnpike.
Why It Occurs: Since the turnpike is considered a luxury and not mandatory, the state charges us a hefty fee to raise money for other state sponsored programs.

18. In UF, we have to pay per credit hour where in other schools, students just pay tuition and can take as many courses as they like.
Why It Occurs: I believe UF does not want students to take any courses they wish because students may graduate slower and take too long to pick a focus.

19. The UF gym is over-crowded no matter what time you go.
Why It Occurs: There most likely is not enough space on campus to build another gym, and people have not demanded enough for there to be more space.

20. In most of Gainesville, most off campus leases are 12 months which makes students pay for summer rent even when they are not here.
Why It Occurs: Most companies and landlords understand that students will basically pay for anything and do not have a lot of bargaining power in their situation.

I did find the process of thinking about problem difficult at first. But, once i started coming up with the first 5 or so bugs, it got a lot easier after that. It definitely did feel like something you can get much better with if you practice enough. Additionally, i tried to think of the solutions to the problems i wrote down and most are either difficult or too expensive. Overall, its much easier to list problems then find solutions.

Assignment 3A: Your Entrepreneurship Story

I remember the first time I felt like an Entrepreneur was in 9th grade. Me and a friend decided we would start our own E-Bay business. What we decided to do was buy keyboards for computers online and sell individual keys. So for example, if your space bar on your computer broke, we would ship you just the key so you would not have to buy a new keyboard. This turned out to be an extremely lucrative business, and we ended up doing this for a few months and making a few hundred dollars. Doing that really encouraged and motivated me to want to create my own form of income and not have to rely only on a boss. That being said, I enrolled in this course to learn how i can create a side business or even a large scale project to create hopefully a passive income source. Additionally, i enrolled in this course to begin doing things that made me uncomfortable, hopefully failing and learning to accept failure. I know that i only get from this course as much as I put in, so i hope to put in a large amount of effort in order to gain a lot of knowledge. 

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