Celebrating Failure: YAAAAY

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. 

Well for my other class in Sales Management we have a fundraising project and I have failed multiple times trying to get donations for our cause. Ive failed at individuals and businesses but had to keep asking.

2) Tell us what you learned from it.  

I learned how to personal sell from failing over and over. I had to raise money so I couldn't just give up and it is really awkward trying to ask random people to donate.

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? 

I guess I hate to fail but honestly My view of failure used to be anything but an A in school now I feel like it is anything above a C as long as I put my effort into it and learn things from the class. This class kind of helped feed into it because entrepreneurship is similar to trying to raise funds and experiencing failure is common. 

My Exit Strategy

1) 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?

In all honesty if I was to start this business from the time I launch till like 5-10 years after I would hopefully be a big enough player that at least one of the large shipping companies wants to buy us out for a good chunk of change. 

2) Why have you selected this particular exit strategy?

Basically I want us to be a big enough partner/competitor that they want to buy us out because we proved it was a good idea but we want out because we can't compete with those companies that is not our goal. Our goal was never to start a shipping company from scratch. 

3) 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 don't think it effected everything because the capital would be crazy to start a shipping company. We are essentially acting as a middle man so we are not trying to compete with the big box shippers

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Week 12 Reading Reflection: Some more reading

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 to me was the Categories thing and the percentage used. I had no idea what those even were.

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

The entrepreneur Strategy Matrix Model was confusing because there were a lot of things happening in that section. 

3) If you were able to ask two questions to the author, what would you ask? Why?

In figure 13.1 what is the differences between the strategic actions beside just naming them?

What us the difference between bureaucratization and decentralization?

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

I did not see anything wrong with the chapter I didn't know most of the stuff so its hard to know its wrong. 

Venture Concept No. 1

Opportunity. 

My opportunity is two fold in that the potential customers are consumers and business. The customer side deals with the unsatisfactory commitment to customer service they feel and the anger they have when shipping and/or receiving packages in the mail whether via family, friends, or businesses.  The second side is the businesses themselves like the shipping companies but also amazon and other companies. The shipping companies benefit from the added customer service and the "last mile" as well as the B2B exchange. 

Ideally; geographically the territory is open because uses ships everywhere so does UPS and Fedex so therefore our clientele could be limitless in potential. Realistically we would start small and then scale so start with one company and then use our proof of concept to roll out to the others. The current satisfaction is based on what each company offers. There is no universal standard you expect better quality from the private companies but at a much higher cost sometimes. This opportunity as previously mentioned is enormous in a potential aspect because almost everyone as some point ships things and every business does as well. I believe this window of opportunity will be open until there is a radical shift in the way we send mail whether it be much faster or what have you. 

Innovation. 

The innovation in my company is incremental but necessary and crucial. It doesn't radically change the entire landscape of shipping but companies always strive to help their last mile and bottom line numbers which this does exactly so. Essentially this is a two way app on the customer side they create an account, set up personal info and can combine any shipping companies in their area i.e. ups, uses, fedex, dhl etc. They can see the price comparisons for each company when they go to ship things and even print labels from their phone/computer. They also can put any tracking number and do anything from their end on the receiving side like specify where to drop off, change of address etc. 

On the business side they don't have to worry about customer complaints and issues as far as once things have been shipped we become a middle man for them to free up some crucial time and more importantly less lines in store. We deal with the complaints as well as relay things over to the companies. As far as pricing goes we would charge a monthly fee depending on how much people ship starting at $5 up to $50 for ebay people but also offer discounted shipping for each tier to entice them. The business side I am not 100% sure as to pricing because I do not know that area as well.

Venture Concept. 

The reason I see people wanting this product on the consumer side is personally for me and many other people who ship things on a semi regular basis there is damage as well as lost items and so on. I personally see photos sent in the mail with do not bend all over it and they bend them in half to jam into a mailbox. Those kind of things will be addressed and stopped through this to help the shipping companies offer better customer service as well. Switching to this is very easy because one of our core competencies is convenience of the app. A lot of the ancillary questions regarding this would be specific to a product but as a service based company we would have to roll it out and then see where people have the most complaints and adjust that way. 

Secret Sauce: I think that once we get going and the first to market by the time people get into the large shipping companies we would be established and hard to undercut us. 

Next Steps: I think a secondary service is for local shipping instead of driving to drop something off or spend a stupid amount of money and take 3 days to go an hour we would offer almost an Uber of sorts for shipping.

Me: If this was a real venture within five to ten years I would want to see myself working with every American shipping company and shifting to international as well and learning how to better suit those clients. 

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Week 11 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 have found that rms rarely articulate strategies to align their innovation e orts with their business strategies" This excerpt I found interesting just because it is practical as well as surprising for him too!

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

I guess what was confusing to me was when talking about myopic innovation what really would that constitute. How far different does something have to be for it to be special?

3) If you were able to ask two questions to the author, what would you ask? Why?

What would you say after working in different arenas or areas are the most innovative industries?

How should an entrepreneur view innovation versus strategy? Should they try to reinvent the wheel or invent a new thing altogether? 

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

People now like to use innovation and Apple together but one thing he was wrong/failed to mention was how its more of the people then the company. Apple has lost its innovation as far as creating new things instead of making it better since Jobs died. 

Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 

App sales, Membership opportunities, Direct to customer, Direct to business

• Describe what kind of product offering you believe should be next. What's the next thing your customers want?

This is hard to answer because my idea is a service not a product but I think the next step would be offering a way to print and ship from your phone almost like just a barcode or qr code and scan that to know where your product goes. 

• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

I think being able to print from your phone directly makes things more convenient for the consumer and if the technology works a barcode or raid would be easier for the shipping companies as well.

• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

Not applicable because Im selling a service...

• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

Not applicable because Im selling a service...

• Describe what design/usability changes you'd make to the product. 

Not applicable because Im selling a service...

• Describe why you think this product would make a good addition to your current product/service offering.

I think this offering would be an extension of my brand not a new product because it helps the customer shipping things.

My Unfair Advantage

1) Me
VRIN: I am unique just like anyone else which gives me a different perspective. Basically the VRIN definition.
2) My contacts through friends and family friends
VRIN: The contacts that I know aren't 100% unique to me because other people can know them but the combination sets me apart.
3) Likability across different individual groups
VRIN: Again this is the same as #1 now looking back on it so the same as the first point.
4) Everybody has to ship things
VRIN: Literally everyone ships which makes this important and valuable but people can ship through other companies.
5) Lots of people are upset about shipping prices and damaged items
VRIN: A lot of people have many complaints which makes this important and valuable but not all people have issues.
6) Fun friendly young environment
VRIN: I find that especially the millennial age like to work in places where it is relaxed which makes it valuable but it isn't that rare now a days.
7) Technological copyright of the app
VRIN: The app being proprietary would be very rare and valuable because no one can copy what we do. Honestly I believe that this is one of the most important things.
8) Convenience
VRIN: The convenience is valuable but not rare or inimitable.
9) Experience in shipping a lot of things
VRIN:Me being good at shipping things again isn't very rare.
10) Willingness to work hard to get it done
VRIN:This is kind of a hard thing to quantify where everyone in entrepreneurship has.

My most important resource is the app itself because it optimizes the rare, valuable and inimitable thing because its proprietary.

Week 10 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 knew most of these sections but the pro forma statements were new to me.

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

Why does simple linear regression help the operating budget. That section was pretty confusing to me.

3) If you were able to ask two questions to the author, what would you ask? Why?

Wit do you think is the best way to approach accounts receivable payments from people who aren't paying? 

Ive always been curious who decided what to put on each balance sheet and income statement and why that was the case beside it just is?

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 find anything wrong considering this chapter is mainly just facts and definitions.

Growing My Social Capital

Person 1)

1) Who they are and what their background is.

Elio Navarro Went to USF and has been a solutions cod developer for the past 8-9 years.

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

I am filling the domain expert slot with Elio because he is a programmer coder and I need someone who knows how to build an app.

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

I know Elio from working with him and he also worked with my dad in the past so he is a family friend. I just connected him through Facebook because we were already friends. 

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

Im not sure what this point is but there isn't a return expectation because we get along already and he helped me in high school so he mentored me a little. 

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

Well including Elio to either personally help or use his network to meet other coders would help me in building the actual product. 

Person 2)

1) Who they are and what their background is.

Carl F. Downing has worked with USPS for a while and worked up the company to manager in the Gainesville area.

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

I am filling the market expert because he is a manager for usps so he is in the field I would work in or even directly with. 

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

Honestly I wasn't sure how to find this person so I just went online and found out and then went to the local post office and got his contact info. 

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

Again this doesn't really apply I just spent a few minutes with him to satisfy the requirement and make an establishment together.

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

Hopefully his knowledge would help me with USPS in general and the market. 

Person 3) Honestly this is hard because I am providing a service so there isn't really similar things out there currently.

1) Who they are and what their background is.

Mason Padgett works for one of those self shipping services in a strip mall. He worked for a couple other shipping companies before getting close to retirement and starting his own store.

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

Supplier slot because he offers a similar shipping service although it is a physical store.

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

I actually used the store last week so I went in and he's a very nice older man who was willing to talk to me a little because he wasn't busy. 

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

n/a

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

Like i said it doesn't really help much but it was interesting to see a similar style of business. 



This experience was more like prospecting where you have to do research on a potential client or customer to see who fits your bill. It helped in that aspect of research and development. 

Elevator Pitch No. 3"

I basically just shortened the pitch based off of the feedback. Everyone liked the idea but said to shorten it which is what I did.

Week 9 Reading Reflection: Reading Yet Again

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 think the developing information gathering portion was surprising just in the fact that I didn't know some of the steps. Like all of the pre question process.

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

The different pricing models were confusing mainly without examples. I knew some but others were more abstract.

3) If you were able to ask two questions to the author, what would you ask? Why?

What makes you decide on which marketing research to ask? I.E. what differentiates between asking distribution and markets or any others. 

Which of the 9 or so tactics would you say is the most commonly used and which is the most successful?

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

I just felt like this book has a very simple definition of social media marketing. It isn't necessarily wrong but there is so much more in depth that they could have got.

My Secret Sauce ;)

1) Describe five ways in which you think you have human capital that is truly unique. What is it about you, exactly, that makes you different? Write this up in a detailed list. 

1. My drive for helping other.

2. Loyal follower/good listener

3. Hard working

4. Independent 

5. Caring 

2) Interview the five people who know you the best. Ask them what they think makes you different -- remember, focus on your knowledge, skills, abilities, emotions -- in other words, your human capital. Try to stay away from discussing your other types of capital (such as who you know). Record each interview. In your blog post, please post each interview, as well as a two-three sentence summary of each interview, explaining what your key takeaways are.

I had a lot of things going on this week and an exam so I couldn't record anything but had to text and email all the questions to everyone.

Kind, sweet, dependable, hard working

Caring, hard working, friendly, helpful

Quick on his feet, nice, goes out of his way to help others, funny

Reliable, dependable, kind, great heart

3) Reflect on the differences. How do you see yourself, and how do others see you? Are there differences in how you assess yourself compared to others? What do you think causes these differences? Do you think your interviewees are correct about you? Finally, going back to your list from part 1, would you make any corrections to the list? How? 

There are things that others noticed that I didn't consider myself. I think this is because others can see what you are like I don't really pay attention. I think that they mentioned other good qualities and would probably change caring to funny or quick on my feet.

Idea Napkin No. 2

You

My name is Garrett. My talents include organization, attention to detail, quick learner. I have worked for multiple companies on short term basis and I am just graduating this year. If I started this business I would need to find someone who could help implement it for not a lot of money and find someone who has connections to the carriers. 

What Am I Offering to Customers?

I am offering something that helps people save time in their day to day lives and makes it more convenient. Instead of spending time on the phone or internet or in the store rerouting packages or trying to set up when to pick up my product will be streamlining all of this in one location on your phone. This way it helps customers in that everything is conveniently in one place. The businesses gain help in the “Last Mile” which is where they strive to get better the most.

Who am I offering it to?

I am offering this not to one specific demographic but to anyone who ships packages or business who ship packages as well. It is two fold in consumer and business applications. 

Why do they care?

On the customer/consumer side it saves them hassle and time by rerouting a package or getting updates as to where it is or where they left it. In business this helps streamline shipping and if its going B2B it is even more critical that they stay on time.

What are my core competencies?

It is more of a core competency in the way that we will help streamline and shorten length times. We also deal with customer service so we help save the businesses like USPS, Fedex and UPS by saving them from paying more customer service providers.

I think that everything is very cohesive the only weak spot is figuring out the logistics about developing an app or something of that sort since I do not code.

1)    The idea goes over well with people

2)    Work on explaining it in more detail about the business end

3)    Use it on the business side like amazon etc

4)    Good service industry application and customer service

5)    Day to day operations are important