30A Final Reflection

1.)I truly enjoyed being able to expand on all my thoughts through the blog. I also enjoyed reading through other blog posts and seeing different perspectives.

2.) The elevator pitches fall under all the questions asked here. I used the feedback given to me and I was able to improve with each elevator pitch.

3.) I do see myself as an entrepreneur since I was really able to visit several different aspects associated with running a business. I'm aware of the time commitment that successful entrepreneurs need to make.

4.) In order to perform best in this class, getting work done ahead of time is a key part. The due dates for blogposts are also 12pm so that's something students need to pay attention to. Also, being passionate about the product or service they choose to take on since you'll be working with it all semester.

 

29A Venture Concept No. 2

Opportunity

The people who have the need are middle-aged working class people who shop online as their preferred method of obtaining goods. There's also a market for college students out there because they often use the internet to order their textbooks or apartment essentials. College students don't have much time and money on their hands so it's important that those things are well accounted for. In terms of the nature of the need, people want their packages to be delivered safely on-time. Often times, that's not the case since the package can be reported as missing or it could've been stolen. I've spoken to several people about this topic and it's evident that this is an issue they experience as well. Having to endure long wait times on the phone about a missing package is not what people would prefer doing. Also, sometimes a police report is required if the package is believed to be stolen and that requires even more time and effort. The forces in the environment creating this opportunity is the increasing use of online shopping, especially in times like this where traditional shops are limited due to the virus. Aside from that, some people live in apartments where the package is just sitting in front of the door waiting to be claimed and often times, it isn't the right people claiming it. The market can vary based on geographical locations. For example, an apartment complex with college students would probably bring about more customers for this product in comparison to a gated community. Now just because a community is gated doesn't mean any crime can't take place so there's also that to consider as well. I see the opportunity being pretty bug because I have't heard something like this in the field before and the benefits that come along with it are tough to pass up. I say the window of opportunity will be open as long as online shopping continues to be a prominent component of shopping. There will also be promotions aimed to help people purchase the product. These promotions will be targeted towards mainly college students.

Innovation

To give an overview, this product helps facilitate the safe delivery of products to consumers front door. The product would be a hard plastic box that is installed outside the front door/porch of people's residence. This box will be secured with a unique pin that allows access to the box. The box will also be available in different sizes and the price would vary based on the size of the box. The original style sized box would be sold for $29.99 with free installation and a lifetime guarantee. By doing this, we show our confidence and value in our product. Manufacturing the box shouldn't take much money so the margins will be beneficial to the company.

Venture Concept 

In terms of switching to this product; there isn't a true competitor in this field so it's mainly just selling the customer on this new product and it's effectiveness. It'll take elaborate marketing strategies along with tutorials on how to use the product just to ensure there isn't any confusion. We don't want our customers to be mislead so being transparent is also another large part of what we stand for. Customer support is something that the company really wants to focus on because the purpose of this product is to reduce any hassle involved with the delivery of packages ordered online and we want to ensure that is taking place. We will receive customer support and feedback through surveys and reviews. When thinking about creating a whole business instead of one product, that is something that I definitely have in mind because I want to create multiple products of this nature. That would require hiring more employees and assigning managers to work with these employees. We don't want to get to a point where we hire too many people.

Three Minor elements 

The most important resources would be satisfying our customers to a level where they are doing the advertising for us, in a sense. That is by them taking part in word of mouth to their peers and family members. What we have will make it tough for competitors to match since I'm establishing this to be more than just a product, I want the customers experience to be unmatched. Next for the venture, I want to expand the product line where a need for safe delivery is present. In 5 years, I want to have fully established my product in the domestic market and then integrate it internationally. This first venture will give me experience as to what will and won't work in terms of the product and customer service. Actually, instead of 5 years, I was thinking to keep the company for at least 10 years and then sell it for a large return.

Feedback: The feedback I received was mainly centered around being more elaborate and descriptive towards my product. I did this by including more examples and details about not only the product but the service thats associated with it.

28A Your Exit Strategy

1.) In terms of exit strategy, I plan on holding onto my company for at least 10 years before selling it for a large return. I say 10 years because I want to establish my company and ensure it's sustainable. 

2.) I selected this particular exit strategy because I want to expand my diversity in the types of business I deal with. I don't plan on working within the same industry my whole life. I'm someone who enjoys change and takes it as a challenge to enhance my work. I also wouldn't consider making it a family business for generations to come because what if that particular trade isn't something they're interested in. Growing up, kids develop different interests and I would want my kids to exploit those interests by pursuing careers that they value. 

3.) One thing my exit strategy may affect in my concepts were my plans of expanding overseas once my product is domestically established. There's a 10-year window for that to take place so it may still be a possibility. Other than that, I don't think it influences any of my concepts as I had this exit strategy in mind initially. 

27A Reading Reflection No. 3

Book choice: The Art of Social Media: Power Tips for Power Users, Guy Kawasaki

1) What was the general theme or argument of the book?

- The general theme of the book was pretty much advice and tips on ways to perfect your social media in a sense. This aim at perfection will be used to build a professional platform which will help drive one's business.  It ranges from giving you examples of using things to do all the way to telling you exactly what not to do as that won't help you achieve your purpose. 

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

- It connects with what we're learning in this class because we're taught to carry ourselves professionally and brand ourselves as how we want to be perceived. This book gives enhances what we're learning by giving specific examples of things to partake in on our social media which is now a large part of our generation.  

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

- That exercise would involve the class to make a list of their own in terms of what activities and posts they believe are appropriate for their social media. Afterwards, we would discuss the list and evaluate the impact of every decision. 

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

- Honestly, my biggest surprise was the specificity of the examples that were being used. Often times, we're given advice that can't be applied to every situation but in this book, there was literally no room for interpretation. I expected it to be very baseline and sort of things that we were already aware of.  

26A Celebrating Failure

A time this past semester where I failed was my idea of going to the gym consistently. I've played sports my whole life but ever since college started, my schedule started becoming very hectic providing little room for extracurricular activities. One of those activities being, going to the gym. I would often tell myself, tomorrow is the day I'll start going to the gym. Tomorrow would come and I would make up some excuse not to go. This happened for at least a month; I would constantly try to go to the gym but something would prevent me from going. I took this as a failure because I wasn't getting this one thing that's constantly on my mind done. I learned that it was my motivation that was lacking so I did a few things to help improve that. In terms of how I handle failure, it's primarily behaviorally. If I fail at something, I need to learn why that outcome happened and a change in behavior must be put into place to prevent the same outcome as before. This class did impact my perspective on failure, I realized the value in every opportunity and how it doesn't make sense not to chase an opportunity because the worst case scenario will be failure and at the least, you're learning something about why you failed.

24A - Venture Concept No. 1

Opportunity

The people who have the need are middle-aged working class people who shop online as their preferred method of obtaining goods. There's also a market for college students out there because they often use the internet to order their textbooks or apartment essentials. College students don't have much time and money on their hands so it's important that those things are well accounted for. In terms of the nature of the need, people want their packages to be delivered safely on-time. Often times, that's not the case since the package can be reported as missing or it could've been stolen. I've spoken to several people about this topic and it's evident that this is an issue they experience as well. Having to endure long wait times on the phone about a missing package is not what people would prefer doing. Also, sometimes a police report is required if the package is believed to be stolen and that requires even more time and effort. The forces in the environment creating this opportunity is the increasing use of online shopping, especially in times like this where traditional shops are limited due to the virus. Aside from that, some people live in apartments where the package is just sitting in front of the door waiting to be claimed and often times, it isn't the right people claiming it. The market can vary based on geographical locations. For example, an apartment complex with college students would probably bring about more customers for this product in comparison to a gated community. Now just because a community is gated doesn't mean any crime can't take place so there's also that to consider as well. I see the opportunity being pretty bug because I have't heard something like this in the field before and the benefits that come along with it are tough to pass up. I say the window of opportunity will be open as long as online shopping continues to be a prominent component of shopping.

Innovation

To give an overview, this product helps facilitate the safe delivery of products to consumers front door. The product would be a hard plastic box that is installed outside the front door/porch of people's residence. This box will be secured with a unique pin that allows access to the box. The box will alos be available in different sizes and the price would vary based on the size of the box. The original style sized box would be sold for $29.99 with free installation and a lifetime guarantee. By doing this, we show our confidence and value in our product. Manufacturing the box shouldn't take much money so the margins will be beneficial to the company.

Venture Concept 

In terms of switching to this product; there isn't a true competitor in this field so it's mainly just selling the customer on this new product and it's effectiveness. It'll take elaborate marketing strategies along with tutorials on how to use the product just to ensure there isn't any confusion. We don't want our customers to be mislead so being transparent is also another large part of what we stand for. Customer support is something that the company really wants to focus on because the purpose of this product is to reduce any hassle involved with the delivery of packages ordered online and we want to ensure that is taking place. We will receive customer support and feedback through surveys and reviews. When thinking about creating a whole business instead of one product, that is something that I definitely have in mind because I want to create multiple products of this nature. That would require hiring more employees and assigning managers to work with these employees.

Three Minor elements 

The most important resources would be satisfying our customers to a level where they are doing the advertising for us, in a sense. That is by them taking part in word of mouth to their peers and family members. What we have will make it tough for competitors to match since I'm establishing this to be more than just a product, I want the customers experience to be unmatched. Next for the venture, I want to expand the product line where a need for safe delivery is present. In 5 years, I want to have fully established my product in the domestic market and then integrate it internationally. This first venture will give me experience as to what will and won't work in terms of the product and customer service.

25A- What's Next?

Existing Market

In terms of what is next, I want establish the domestic market to ensure my product is sustainable. After that, I want to expand it internationally because I feel like the need exists there as well. After speaking with a few people, it's evident that a need for effective marketing needs to be put into action to advertise to different age groups. In terms of what customers want next, if they see the value in the initial product, they're most likely going to look for other products the company offers. I would want to either make an extension of the product or create a new product for a different line.

New Market

A market that I'm planning to target is the college student market. College students are often ordering products online so that results in a higher number of packages being put out. College students are always on the move so it's important that they're not wasting their time trying to deal with the hassle of a missing package. Aside from the time, most college students are living on a budget so having their package being stolen or misplaced wouldn't turn out too well for them. After interviewing a couple people, they again spoke about how the marketing of the product is essential especially to different age groups because nowadays, people are drawn in by creative marketing strategies.

Reflection

What I learned about the new market is that there is definitely opportunities there because I'm a college student and I feel like this product would be useful. That was later confirmed by other college students which actually made it believable. I'm not sure if it's attractive as my initial market because college students don't have the luxury of disposable income so it may be tougher for some students to buy products that they don't use on a regular basis.

23A – Your Venture’s Unfair Advantage

1. Social capital

• Valuable- People working with me will have ample experience in the field.
• Rare- To an extent, there are certain people who have credibility in the field, they just have to be found. 
• Inimitable- To have the exact type of team as me including all the different perspectives people bring to the table.
• Non-substitutable- Wouldn't exchange the people on my team. 

2. Simplicity

• Valuable- Won't be a hassle for the customer to figure out how to use product
• Rare- With all the technology today, use of products can be tricky for different age groups
• Inimitable- A patent could be put into play 
• Non-substitutable- Only product of its kind in the market 

3. Convenient Product

• Valuable- It'll make the lives of people easier
• Rare- Many products are tough to use/handle 
• Inimitable- Hard to replicate 
• Non-substitutable- Essential for those who work long hours

4. Maintenance Product

• Valuable- Not much maintenance required 
• Rare- Easy to sustain
• Inimitable- Tough to replicate 
• Non-substitutable- Serves the right purpose 

5. Experience

• Valuable- Expertise in the field
• Rare- Great team of workers who have credible experience 
• Inimitable- Tough to match skills on team
• Non-substitutable- Takes a whole team effort to successfully carry out protocol

6. Affordability

• Valuable- Helpful for our target market
• Rare- Tough to match price 
• Inimitable- Sustainable in comparison to competitors
• Non-substitutable- Quality isn't degraded because of convenient price

7. Customer experience

• Valuable- Retention and word of mouth to acquire new customers
• Rare- Truly care about giving the customer the best experience possible
• Inimitable- Connect with customers on a personal level
• Non-substitutable- Leave a great impression of our company with each and every customer 

8. Insurance guarantee

• Valuable- Shows our confidence in the product
• Rare- Not many companies match this
• Inimitable- Ensuring our product lives up to the standards of the customer
• Non-substitutable- Giving the customer peace in mind if anything happens to the product

9. Friendly Atmosphere

• Valuable- Make customers comfortable to reach out and address any concerns or questions
• Rare- Making an effort to truly interact with customer
• Inimitable- Being authentic helps strengthen relationships
• Non-substitutable- Making the customer feel welcome and appreciative of their business

10. Technology 

• Valuable- Makes it simpler for people to control
• Rare- New method that's being introduced into field
• Inimitable- Making our product unique to our customers
• Non-substitutable- Making it evident that our product lives up to expectations through effectively marketing

22A Elevator Pitch No. 3

1.https://www.youtube.com/watchv=jJfZb8rAUGQhp4t

2&3. The feedback I received was primarily about bringing up the energy from past videos. To do that, I altered my script a bit to include some parts that I can be more enthusiastic. Another thing was to include a few more details about the product which I also revised and included in the script. All the feedback I received made a lot of sense so I carried out the necessary actions. 

21A Reading Reflection No. 2

How to Fail at Almost Everything and Still Win Big, Scott Adams

1. In this book, Scott Adams discusses his many failures that he encountered throughout his career but that didn't stop him. The key was that he learned from all these failures little by little which eventually led him to get it right. 

2. This book connects with ENT 3003 because it's similar in the sense that the important part is learning from mistakes and improving your work based on feedback. It's about the progression since it's essential to take everything in. 

3. If I had to design an exercise for the class, I would ask them to tell me of a time where they learned a valuable lesson from a mistake that occurred. I wouldn't ask for too much info, I just want the theme or lesson that was taken into account. 

4. My biggest surprise was a bit of 2 things. First one, I didn't know he struggled that much but I see now that it all played a part. Also, he was very involved in the community with donating money to charity and providing funding for startups.  

20A Growing Your Social Capital

Domain Expert:

The person who has experience in this field is my uncle living in Canada. He owns a local delivery business in Canada that specialize in delivering all types pf goods. He started the business 20 years ago so it's been well-established at this point. This is family so nothing in return is really expected. Including this person will help me expand my product beyond borders and enhance my network.

Market Expert:

Somebody I would consider a market expert for this area is Dan Risick. He's conducted ample consumer research in my area since he recently opened up a restaurant in Gainesville. Dan has experience in typically the restaurant business so he's really good at predicting the type pf crowd he's going to see. I knew this person prior therefore, I just reached out to him. In terms of returning the favor, he didn't seem like he wanted anything in return but I'll give him a complimentary unit since he seemed very interested. This will enhance my networking because it'll expose me to different fields.

Supplier to Industry:

I reached out to my aunt who works in the supply chain in an industry related to this one. She's been working in supply chain for over 15 years now. She really gave me some useful information regarding where to incur the lowest costs in terms of manufacturing in a certain region. Being able to have her in my network enables me to really expand my supplying options.

Reflection:

This experience will help me ask the essential questions in terms of networking for a certain product. In the past, I've networked to look for jobs or internships so that's really the only way the two differ from one another. It's not really product focused, it's more about yourself.

19A Idea Napkin No. 2

1.) I am a junior attending the University of Florida, majoring in business management. I'm originally from West Palm Beach with my family being from Lebanon. My main talents are being athletic and playing sports. I played basketball all 4 years of high school including travel basketball. My experiences through interning with Wells Fargo the past two summers have helped me develop skills such as effective time management and team leadership. Aside from that, I also worked in a retail setting with Pandora. My goal is to push my product as far as it could possibly reach in terms of availability and effectiveness. If I were to start this business, it would definitely be a large part of my life because if I invest in something I really want to give it my all and see where I could take it. I don't want to have any regrets or 'what-if' thoughts afterwards so thats why I would give it all I got.

2.) The type of product that I'm offering to customers is one that ensures safety when receiving packages to one's home. The product is a glass or hard plastic box that is installed outside the front door of the house and a key/combination is required to open the box. The box will be offered in different types of sizes which will correspond to the price of the different boxes. There will also be different colors available to try and match the color of the apartment/house if the customer wants to go that route. The customer will also be given the option to have the box installed by us upon arrival at no additional cost.

3.) I'll be offering this to all people living in residential areas and apartment complexes. I would consider my customers to typically be aged 25-50 years-old who like to shop online for most of their needs. They would also be typically women since they prefer to do the online shopping. There seems to be more of an issue in places where crime rates are higher and salaries are lower. This makes sense since most of these resident areas aren't gated in comparison to ones in different areas of the city. One thing my customers all have in common is that they value convenience and don't want to go through hassles that'll waste some of their time.

4.). They care because once their package is reported as missing or stolen, they're the ones who have to go out of their way to contact the company, trying to resolve the issue. These companies often times do investigations or ask for some sort of proof which only makes the process more exhausting and time-consuming. Customers will play money for my product because they will see the value in ensuring packages are properly delivered the first time. Having the added peace of mind knowing that your package is safe and secure waiting for you outside your front door is something that is truly underrated.

5.) My core competencies is satisfaction and effectiveness. Ensuring my customers are satisfied with their decisions is a large part of my motivation towards this product. People are always looking for ways to be more safe and secure especially when it comes to their valuables, this is a great innovative way to do it. The more of a purpose the product serves, the more passionate I'll be towards it.

I believe that these five elements fit together since it's important to evaluate things holistically and from different aspects. Asking those type of questions will distinguish someone's aspirations from reality in terms of their ideas are exploitable. Taking all those things into consideration before hand may prevent failure or loss of money in some cases.

The feedback I received was regarding the details in my answers. I was told to use more concrete examples and details so I tried to incorporate that throughout my answers. I feel like it went well since my answers seem more credible in a sense.

17A Elevator Pitch No. 2

The feedback that was most useful was talking about how this product will benefit the customer. I gave an overview of what the product would do but didn't really hone in on how it'll potentially benefit the consumer. I also got some feedback regarding my opener, I was advised to use some type of fact to give some quantitative evidence.

The link to the video is posted below.

18A Create a Customer Avatar

My typical customer would most likely be a woman aged 23-30 years old. A hobby that my customer would have is online shopping since they're not fans of traditional shopping. They tend to drive Toyota or Hyundai sedans that are economically efficient. In terms of color, I'd say something subtle like a black or gray. They tend to watch reality TV shows. At this point in their life, they may have a child or two. They want to usually feel like they're making a difference with all of their decisions, they want their decisions to have a positive impact on the environment. Something the avatar and I have in common is the method of preferred shopping as we both rather shop online than in the store. I don't think it's a coincidence, it's just the generation we live in. 

16A Whats your Secret Sauce?

1. I come from a background where my parents didn't attend college so everything at UF so new to me. I enjoyed the challenge of constantly being pushed to learn and stay quick on my feet.
2. I had to mature at a younger age than those around me due to certain family situations.
3. I love sports and anything dealing with sports.
4. I love my family, each member is so unique is their own way.
5. My passion to be successful grows by the day.

Interview reflections:

Every person thought of what they would want in a product in a different way. Price and quality were definitely the top determinants however. Age, gender, and geographical location all play a part in these differences.

15A Figuring Out Buyer Behavior No. 2

1. 19 year-old male, minority university student

After speaking with this person, it was evident that price was a large factor on whether or not they would purchase the product. In this stage of their life, college students aren't as financially stable as they would wish. This causes students to spend their money in wiser ways. Although all the other aspects still play a part in consumer decision, price was definitely the clear cut determinant here. They're also more likely to pay with cash. 

2. 28 year old female, Accountant

When speaking with this person, it was apparent that price and quality were both large factors and the person didn't want to experience a drop off in quality just for a lower price. This person is more likely to finance such purchases in order to build their credit. When thinking about a purchase, they often access their daily use of the product and the impact it has on them.

3. 34 year-old, college graduate

At this point in this person's life, the main thing concerning them is the quality of the product. They believe that better quality products last longer and perform more consistently than their competitors. This person would also decide to finance such purchases since they believe it doesn't make sense to always use cash. They evaluate the effectiveness of the product by accessing how much they paid for it in relation to how much value it brings them.

Conclusion:

It's apparent that although price plays a part, the quality of products is what truly attracts the customers and makes them want to come back for more. The price seems to play a larger role in consumer decision for the younger crowd.

14A Halfway Reflection

1) To keep up with this course, I try to work ahead instead of leaving all assignments to the last minutes. I make reminders as to when which assignments are due to ensure that I don't miss any. I also read the assignment instructions ahead of time in order to know how much time I need to delegate to it as some assignments take longer than others.

2) A moment where I felt like giving up was 2 weeks ago on Friday when he had assignments due. I had visitors from a different state so I was very busy that week, however, the thing that pulled me through was my determination to receive an A in this class. I know important it is to not miss assignments which is why I ultimately got them all done. An experience that contributed to this was back in high school when I used to play on the basketball team. There were several times where the physical demand on my body was a lot but I kept on working to improve the shape I was in.

3) Three tips I would offer are:

1. View the assignments as something fun and innovative rather just something that needs to get done. 
2. Start working on assignments ahead of time since we're all college students and we know how things can come up out of nowhere. 
3. Have a planner if you don't already, it makes it a lot easier to keep track of when assignments are due since there are days where multiple assignments are due. 

This is a screenshot of a day where three assignments were due for this class all at the same time. Stay on top of it! 

13A Reading Reflection No. 1

Coco Chanel, Lisa Chaney 

1.) You read about an entrepreneur.

• The thing that surprised me the most was the fact that Chanel took part in all activities she wanted to, regardless of what others thought. Especially in a different generation back then, people were very judgmental and often classified each other. I really admired her will power and determination since that isn't something you see to that extent in many people. The thing that I least admired about her was probably her feeding into the hype in terms of her career when she knew where her true passion lied. Then again, people are always going to want to try different things so I can't really blame her. Chanel definitely encountered some adversity and failures throughout her career but she used them as lessons on how to improve. People often fail at something but don't realize that the biggest part of failure is the learning aspect. Chanel was able to learn as to why the outcomes were coming out the way they were and she took proper action in correcting them. 

2.) What competencies did you notice that the entrepreneur exhibited? 

• One essential competency that Chanel portrayed was awareness. In the field she is in, there are constantly changes and new fashion trends taking place so it's very important that she was able to stay on top of societal changes by using her great awareness. Aside from that, Chanel had a go-getter mentality which really drove her towards her success. 

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

• I was pretty confused about her personal relationships in terms of significant others. 

4.) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

• The first question I would ask is 'What is the largest obstacle that you had to overcome in the early stages of your career?'. The second question I would ask is 'On days where you weren't feeling the motivation, what would drive you?'. I would ask these 2 particular questions because I want to examine how she overcame her challenges during rough times. 

5.) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

• I believe that their opinion towards hard work was very much centered around the end goal or the light at the end of the tunnel. The entrepreneur knew it's a large part of the success they want to experience. I definitely share that opinion, since hard work has been by far the largest testament to my success.  

12A Figuring Out Buyer Behavior No. 1

Interview 1:
The first person I interviewed was a recent graduate from the University of Central Florida. They moved back home to West Palm Beach upon graduation. When speaking to them about need awareness, I realized that this issue is pretty prominent to them around Christmas time since they do a majority of their holiday shopping online. I asked them how often it occurs and they responded by saying at least once every holiday season. They then added that even it happening one time is an inconvenience because of the hassle of the refund process. The first thing this person did to try to find a solution was contacting their friends and seeing if they had the similar issue.

Interview 2:
This person works at TD Bank in West Palm Beach, Florida. When speaking to them, they said this issue often occurred during the beginning of college semesters. They have 3 kids who are all in college and they buy textbooks from Amazon that are shipped to their home. When they realized how inconvenient the return process was, they knew they had an issue on their hands. Once they recognized the issue, they instantly tried finding a solution for it online. Some examples of the type of searches included 'packages', 'safe', and 'secure' on Google.

Interview 3:
The last person I interviewed was a recent graduate from UF who shops online pretty frequently. They spoke about how their packages were stolen on 5 different occasions during the course of his last semester at UF. The place where he lived was a bit farther from campus than everything else. When they became aware of the issue, first thing they did was contact their neighbors seeing if this was an issue for them as well. They also tried speaking with the apartment complex where they resided but 'that didn't really help out much.' They tried asking around for a solution, but it was to no avail.

Findings/ Conclusion

After conducting the interviews, I realized that this segment is one that is heavily targeted with the issue. The interviewees described this issue as something that many people experience. This leads me to believe that targeting the right segment would only benefit the product. This issue is something that really inconveniences people especially with their busy lives but a solution has finally been found! 

11A Idea Napkin No. 1

1.) I am a junior attending the University of Florida, majoring in business management. I'm originally from West Palm Beach with my family being from Lebanon. My main talents are being athletic and playing sports. I played basketball all 4 years of high school including travel basketball. My experiences through interning with Wells Fargo the past two summers have helped me develop skills such as effective time management and team leadership. Aside from that, I also worked in a retail setting with Pandora. My goal is to push my product as far as it could possibly reach in terms of availability and effectiveness. If I were to start this business, it would definitely be a large part of my life because if I invest in something I really want to give it my all and see where I could take it. I don't want to have any regrets or 'what-if' thoughts afterwards so thats why I would give it all I got.

2.) The type of product that I'm offering to customers is one that ensures safety when receiving packages to one's home. The product is a glass or hard plastic box that is installed outside the front door of the house and a key/combination is required to open the box. The box will be offered in different types of sizes which will correspond to the price of the different boxes. The customer will also be given the option to have the box installed by us upon arrival at no additional cost.

3.) I'll be offering this to all people living in residential areas and apartment complexes. I would consider my customers to typically be aged 25-50 years-old who like to shop online for most of their needs. There seems to be more of an issue in places where crime rates are higher and salaries are lower. This makes sense since most of these resident areas aren't gated in comparison to ones in different areas of the city. One thing my customers all have in common is that they value convenience and don't want to go through hassles that'll waste some of their time.

4.). They care because once their package is reported as missing or stolen, they're the ones who have to go out of their way to contact the company, trying to resolve the issue. These companies often times do investigations or ask for some sort of proof which only makes the process more exhausting and time-consuming. Customers will play money for my product because they will see the value in ensuring packages are properly delivered the first time. Having the added peace of mind knowing that your package is safe and secure waiting for you outside your front door is something that is truly underrated.

5.) My core competencies is satisfaction and effectiveness. Ensuring my customers are satisfied with their decisions is a large part of my motivation towards this product. People are always looking for ways to be more safe and secure especially when it comes to their valuables, this is a great innovative way to do it.

I believe that these five elements fit together since it's important to evaluate things holistically and from different aspects. Asking those type of questions will distinguish someone's aspirations from reality in terms of their ideas are exploitable. Taking all those things into consideration before hand may prevent failure or loss of money in some cases.

10A Elevator Pitch No. 1

Above is the elevator pitch for my proposed solution.

9A Testing the Hypothesis Part 2

After the process of conducting 5 more interviews, I recognized that my opportunity is something that definitely has the potential to be exploited. I realized that some people experience the problem but they weren't aware how it directly impacted them. People above the age of 40 or so are more likely to physically go to the store and purchase their needs. On the other hand, people between the ages 20-35 years-old would rather shop online as they believe it's more convenient and at times, more affordable since there might be flash sales or discounts on the website. Of those people who shop online, at least 70% have experienced an instance where their package was missing when prompted to deliver it to the door. I also interviewed a few college students who I assumed would have this unmet need as well, however, I didn't consider the fact that a lot of students live on campus in dorms so their packages are picked up through the front office. For the students living off campus, they also try to receive packages through their front office but thats determined by how large the package is. For college students, implementing a solution for safely receiving packages might not be the most ideal opportunity especially since most students live somewhere temporarily.

Who: Are there certain people or certain businesses that, although they share a lot in common with the others in your opportunity, nevertheless fall outside the boundary? Why?

• College students are the ones who share a lot in common with the others corresponding to the opportunity since most of them would rather shop online as they find it more convenient and suitable for their busy college schedule. However, they would still fall outside of the boundary due to their choice of residence. As stated before, there are safer ways to receive packages through on campus housing in relation to a single home located somewhere in Gainesville. For students not living in apartments or on-campus housing, they're still able to be inside the boundary. 

What: At what point does the need you identified differ from another need? (Is thirst the same as hunger? Or is the desire to appear fashionable the same as the desire to be loved by others?)

• I feel like this need is something that's pretty distinctive and specific which doesn't leave much room for misinterpretation. It's about a particular issue that occurs when people order things to their home for delivery. One factor that may cause the need to differ is the geographical location of the person's residence. 

Why: Is the underlying cause of the outsiders' need different than people who are inside the boundary?

• The underlying cause of the outsiders is slightly different but that's largely due to where they currently reside. There may be more opportunity at a place where there isn't an established process for safely receiving packages. 

Boundary Table 

Inside the boundary:  Frequent online shoppers ages 18-40 years-old	Outside the boundary: People ages 45+, students living on campus
Who is in:  Frequent online shoppers, including students, graduates, full-time workers	Who is not:  People who don't prefer shopping online, students living on campus
What the need is:  Safely receiving packages prompted to be delivered to someone's home	What the need is not: People who already have an efficient way of receiving packages at their home
Why the need exists: Packages sometimes are reported missing, stolen, or 'delivered' but never really delivered	Alternative explanations:  Either traditionally shopping in stores or physically waiting at home to receive package

8A Solving the Problem

1. Selected Opportunity: Provide home residents with an option to have a secured box implemented outside their front door to safely receive packages.

• People who do a majority of their shopping through the internet seemed to have reported at least one missing package at some point in their experience. They also expressed their frustration with these missing packages since fixing the issue is pretty time consuming. 

2. Product:

• The product is a secured box that requires a key to open and this box will sit outside of the residents front door/porch. The box would be hard plastic and it would be offered in different types of sizes according to what the customer wanted to have. The pricing would range in correspondence to the size of the box. 

6A Identifying Opportunities in Economic & Regulatory Trends

Opportunity 1: Create an application that has live updates and information about any health threats in one's area.
The Economic Impact Of An Infectious Disease

https://www.npr.org/2020/01/29/800973274/the-economic-impact-of-an-infectious-disease

With the outbreak of the Coronavirus in China and fellow Asian countries, there have been worries that it'll eventually spread to the states and rightfully so. There's been about a dozen reported cases in the United States but I'm positive that some people may still be unaware of the news. As we all know, this is news that can potentially impact one's life. I came across this article online, then started thinking that this is something that everyone should know about while also receiving regular updates. Aside from the economic impact, headlines as such strike fear into citizen's which influences their decisions. Having an application that one could always turn to has to serve as some peace in mind in a time of crisis. The prototypical customer would be anyone who values applications regarding their personal health and the health of their families. For the most part, I think it'll be relatively easy to carry this out if the right expertise is sought out. I saw this opportunity because I'm someone who wants the best for those around me and having this type of application will cause people to always have their health on their mind. 

Opportunity 2: Create an all-inclusive package for homeless people where they're able to buy goods at highly reduced prices. 

Law Enforcement Officials Argue Rural Homeless Services Worsen Problem

https://www.npr.org/2020/01/21/797497926/law-enforcement-officials-argue-rural-homeless-services-worsen-problem

This article describes how law enforcement services that bringing in homeless people to neighborhoods around the city would eventually increase crime and make these neighborhoods less attractive to potential residents. I found this article online, then I immediately started thinking of ways to make homeless people feel more welcome. These homeless people come into neighborhoods knowing that they're going to stick out in some way; showing them initiatives are being taken to improve their lifestyle will go a long way. The prototypical customer in this situation would be homeless people. I believe the opportunity is relatively easy to exploit since there are many different grocery stores and many of them look to help people outside of their organization. I saw this opportunity because I often drive past streets with homeless people and just wonder where they sleep at night or what happens if it starts raining. These type of thoughts drove me to think of a way to help improve the lives of these homeless people.

Opportunity 3: Introduce a package plan that includes all public transportation for one price. 

Public Transit Hits a Speed Bump: Not Enough Drivers

https://www.wsj.com/articles/public-transit-hits-a-speed-bump-not-enough-drivers-11580994000

It's been tough trying to find public bus drivers. Why? They feel as if they're underpaid with the addition of their work not being appreciated. I found this article online, then it brought me to realize that public transit in certain cities isn't as important as it is in other cities. The cities where public transit is primarily used, there are several other means of transportation such as train, taxi's, etc. Shaping public transit as a compliment to all these other means of transportation should reinvigorate its relevance. The prototypical customer in this situation would be anyone who relies on public transportation as their means of traveling. I would say this is something relatively easy to carryout since a majority of aspects are in place, negotiation and agreement are the key factors. Since I've come to college here at the University of Florida, I've been using the public transit as my main way to transport to school. Now for UF students, the bus fare is included in our tuition but for others that aren't enrolled at a university, their story is different. Having a package that would include all types of public transportation would generate more revenue making public transmit more relevant.


Opportunity 4: Implement a program where barbers get assigned schools to cut the hair of those students who are financially disadvantaged.
Palm Beach County schools to ban discrimination against hair styles
https://www.wptv.com/news/region-c-palm-beach-county/palm-beach-county-schools-to-ban-discrimination-against-hair-styles

I came across this article scrolling through the West Palm Beach local news. Going through high school, I realized some students couldn't afford regularly getting a haircut which would sometimes result in embarrassment. In this scenario, the students in school would be the prototypical customers. The opportunity seems pretty easy to exploit, aside from that, safety concerns are something that needs to be addressed. I don't like seeing others being disadvantaged when something can be done about it. This is a potential way to help out students.       

7A Testing the Hypothesis, Part 1

1. Opportunity: Option for home residents to have a secured box implemented outside their front door to safely receive packages.

2. People often struggle with receiving packages to their home whether it's been stolen, damaged or undelivered. This leads these unsatisfied customers to spend additional time to try and get their situation figured out.

The who: People who shop online.
The what: Inconsistency with packages being delivered to homes.
The why: Packages are being stolen, damaged, or misplaced.

3. Hypothesis:

• Testing the who: There are others that share this need, for example, people who ship packages from place to place.
• Testing the what: How often is your package reported missing? Was it a hassle to redeem your missing package or to obtain a refund? Does this happen to anyone of your peers that you're aware of? 
• Testing the why: In this situation, the range of whys offered typically stem from theft, damage, or misplacement. Outside of those, there are cases with certain circumstances that ultimately result in the same outcome.  

4. Interviews

35 year-old female, frequent online shopper

• How often do you shop online? 
• 3-5 times a week 
• Have any of your packages been reported missing? 
• Yes, there's been times where the package was off schedule but still showed up. Then there has been instances where the package never showed up and I had to manually take care of that. 
• Would you consider missing a package as an inconvenience? 
• Definitely, some companies have really long wait times on the phone and there's been instances where more than one phone call was required. 
• Why do you continue to shop online after these delivery mishaps?
• The main reason is the convenience factor in comparison to physically going in person. 
• Do you wish there was a better way to facilitate deliveries? 
• Yes, that would save me lots of time especially around holiday season! 

50 year-old male, frequent online shopper

• How often do you shop online?
• Roughly 4 times a week
• Have any of your packages been reported missing?
• At times, it happened a lot more often when I used to live in an apartment complex but since moving, that hasn't really been a significant issue. 
• Would you consider missing a package an an inconvenience?
• Yes, it's a long process to receive a refund or reshipment of the item. 
• Why do you continue to shop online after these delivery mishaps? 
• Main reason is because I work lots of hours at work so its tough to find time to go to the store.
• Do you wish there was a better way to facilitate deliveries? 
• Definitely, having no missing packages at all is better than having any missing package! 

25 year-old male, moderate online shopper

• How often do you shop online? 
• About twice a month but a lot more than that during holiday season. 
• Have any of your packages been reported missing?
• Yes, it actually happened relatively recently and it was a total hassle just to prove that my item was never delivered in order to receive my refund. 
• It's evident that a missing package seems like an inconvenience, why do you continue to shop online? 
• I feel like there are better deals online and the convenience factor also plays a part in that since I work full-time. 
• Do you wish there was a better way to facilitate deliveries? 
• Yes, I actually do. Some companies drop off the item at the front door and at that point it can easily be stolen or damaged. 

41 year-old female, frequent online shopper

• How often do you shop online? 
• Typically about 4 times a week. 
• Have any of your packages been reported missing?
• Yes, its definitely happened a few times. 
• Would you consider missing a package an inconvenience?
• My experiences with certain companies' customer service department is pretty good, however, being on the phone with these representatives does take a lot of time out of my day. 
• Why do you continue to shop online after these delivery mishaps?
• At the end of the day, there are better overall deals online and it's also a lot easier to compare certain products when contemplating what to purchase.
• Do you wish there was a better way to facilitate deliveries? 
• If it didn't cost to outrageous then yes that would definitely help ensure packages are safe and secure. 

29 year-old female, frequent online shopper

• How often do you shop online? 
• Roughly 4-5 times throughout the week. 
• Have any of your packages been reported missing?
• A couple in the past, but not of late
• Would you consider missing a package an inconvenience?
• It's definitely an inconvenience since the package is supposed to be at a certain place by a certain time and if it's not then it going to disappoint the customer. 
• Why do you continue to shop online after these delivery mishaps?
• I've always been the type to order things online since I've found it to be easier. 
• Do you wish there was a better way to facilitate deliveries?
• Yes, I feel like there's definitely something that can be done about this since I know many of my peers who often report missing packages. 

Summary: 

Overall, it's pretty evident that this is something that affects more people than we think. Many people expressed different types of frustration when it came to speaking with customer service to resolve a simple issue. Something that I also found out after conducting interviews is that the younger crowd are typically more passionate about online shopping and what it entails. 

5. Conducting interviews has lead to show me that people rather just receive their package the initial time and not have to go through a hassle. People have very busy lives so spending time on a call hold isn't the most ideal way to utilize their time. I also learned that geographic locations can play a deeper role than initially anticipated.