Customer Interviews No. 1

Customer Interviews No. 1

1. I opportunity I decided to focus on was the fact that people tend to have to frequently go out and buy many similar items that they consistently use. The potential solution to this time suck could be an efficient subscription service through Walmart that at least could deliver their top most frequently bought products to their homes instead of requiring them to physically go out to buy these products.

2. The people who may need or take advantage of this service could really be anyone who frequently uses certain products like bread, soap, etc. Some people who might really benefit could be the busy individual who needs to be more time efficient.

5. I learned from this exercise that this opportunity probably would not be a very utilized one as most people seemed to not really be interested in the service. The opportunity also probably would not work as most people seemed to enjoy actually going to the store to purchase their products. Also, most people buy different things each time and not always the same products.

6. From actually interviewing customers, I learned that most people don't actually like being approached randomly and asked to be interviewed, even if it is for class. For the nice people that helped me out, I appreciate it and thank you!

From Youtube:
https://www.youtube.com/playlist?list=PLOPfO014gaS343eRDBu9duww0tbh0svJK

Week 4 Reading Reflection

Week 4 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?

     One of the biggest surprises to me from this reading was the side Entrepreneurship in Practice page. It discussed a program called Faith Popcorn that can predict major trends that it sees happening. I found the trends that it talked about very interesting and found it surprising that a program could accurately predict trends.

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

Nothing in the reading was necessarily confusing.

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

If I were able to ask the author some questions, I would ask him/her to elaborate on the recognizing relationships topic, and also; what are some good ways to develop your creative side?

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

I don’t think that it is always wise to follow the trends. Maybe for a short-term venture but if you are looking for a long-term business, I think that you could get in trouble if all you do is follow trends.

Top 5 World Problems

Top 5 World Problems

The Problem(s):

1.    World Economy.

This should be one of the top priorities for the countries around the world, as the economy plays a huge role in every problem that faces the world. 

2.    International Terrorism.

This is obviously another huge issue that the world has got to face. Innocent people are being killed because of individuals who don’t value human life. This will continue to destroy countries and will continue to add to the refuge crisis.

3.    Consumerism.

I think that consumerism is another significant problem. The over-spending and over-consumption that many people face today, leads to a multitude of issues: obesity, disease, etc.

4.    Human Trafficking.

Human trafficking is a horrible disgusting epidemic that the world should focus more on. This is somewhat of a shadowed world as the spotlight remains off of it.

5.    Overpopulation.

Overpopulation is an issue simply because of what it can eventually lead to. Overpopulation in any country in all of history proves to lead to problems.

The Solutions:

1.     Stop all the quantitative easing, let interest rates rise back to healthy historical levels, create jobs by taking away regulations and high taxes on the private sector, and cut down on government spending.

2.     Join up with other nations/countries to fight the terrorist organizations. Also, attempt to train the Middle Eastern soldiers and provide resources so that the fight can remain centralized, as well as keeps American soldiers out of harms way. This also will help to ensure that terrorist groups can’t quickly rise back up again.  

3.     Provide more healthy options at both fast food restaurant’s and in school cafeterias. Make fast food and unhealthy food way more expensive than healthy food. 

4.     More contraceptive use. Teaching kids more about smart parenting as they grow up. Not encouraging government handouts and social security payments for having more children.

5.     Help build infrastructure that supports clean sanitation. Finance sanitation projects in third-world countries.

Week 3 Reading Reflection

Week 3 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?

One thing that I found rather surprising was the amount of stress that can come along with starting a business.  Not only can it be stressful, but it can also be very mentally and physically draining. I always knew that starting your own business was difficult and that the majority of them do not last for very long, but this idea about the stress was surprising.

2.     No part of the reading was necessarily confusing for me.

3.     Two things that I would ask the author might be: Have you had any personal experience in running a business? If so, which part of the business (such as financial, operational, etc. ) did you find the most ‘stressful’? I would ask these questions as I believe they would add context to the reading, as it would provide some real life examples.

4.     I do not necessarily think the author was wrong about anything specifically, although I think that you could find stress in any business setting, especially one like starting your own business, which requires a lot of energy and major time commitments. 

Identifying Local Opportunities

1.     Title: Tornados ripped roofs off Siesta Key Condo Building

http://www.heraldtribune.com/article/20160119/ARTICLE/160119570?Title=Tornado-ripped-roof-off-Siesta-Key-condo-building

     This story refers to the recent tornados that unexpectedly came through the island of Siesta Key in Sarasota, Florida. One of the biggest problems that occurred during these storms, was the city not being able to reach everyone to let them know. Only some of Sarasota residents received alerts. This makes the city as well as the residents have a problem as it proved it could be dangerous.

2.     Title: Snowstorm cancels Charlotte flights at SRQ

http://www.heraldtribune.com/article/20160122/ARTICLE/160129878/2107/BUSINESS?Title=Snowstorm-cancels-Charlotte-flights-at-SRQ-

     The problem discussed here is about all of the flight cancellations out of the Sarasota (SRQ) airport. Many of these flights were cancelled relatively last minute which leaves short notice to travelers. This causes problems for the travellers who are flying out of SRQ as it disrupts their schedule.

3.     Title: Three Cold Weather Shelters in Sarasota County to open tonight.

http://www.heraldtribune.com/article/20160124/ARTICLE/160129789/2416/NEWS?Title=Three-cold-weather-shelters-in-Sarasota-County-to-open-tonight

This newspaper article discusses the need for more homeless shelters in Sarasota county, as the cold temperature and stormy weather makes it brutal for the homeless. The city has a problem here as they have to raise more money for employees and volunteers to help oversee these additional shelters, and also the homeless residents obviously have a problem as they are in need of warm shelter.

4.     Title: Goodbye, golf clubs. Hello, hiking boots.

 http://www.heraldtribune.com/article/20160124/ARTICLE/160129908/2107/BUSINESS?Title=Goodbye-golf-clubs-Hello-hiking-boots-

This story reports about the new trend in Sarasota of retired senior citizens giving up golf for the more physically demanding sport of hiking. Now, this doesn’t seem like a problem at first glance, but this could create a problem for the many golf courses that are located in Sarasota. This article also talks about an organization that provides various hiking memberships. Another problem here though is the fact that Sarasota is a very flat area so good hiking might be difficult to find.

5.     Title: Zika Virus, What you need to know.
 
http://health.heraldtribune.com/2016/01/21/zika-virus-what-you-need-to-know/

     This article focuses on the new virus that has been recently found in the US. As of right now, the containment of the virus has been pretty effective with only about a dozen confirmed cases so far. The main group who the CDC is trying to alert is pregnant women. Traveling right now to anywhere in South America could expose you to someone carrying the virus. This is a problem for anyone who does not want to catch the Zika virus.

Very Short Interview No. 1

Very Short Interview No. 1

For my Very Short Interview, I interviewed our good family friend Skip Ennis. Skip is a very successful businessman who co-founded a multinational jewelry/diamond business. His business sells high-end jewelry and provides custom diamonds out of New York City. Skip has been running this business for about twenty-one years.

1.    How did you end up in the jewelry and diamond business?

SE: I rather stumbled into it in a sense. I always considered myself artistic but it wasn’t until I met my business partner who was a great jewelry designer, that the idea to partner up and create a jewelry business started.

2.    Would you consider yourself an Entrepreneur? And if so, what do you think that means?

SE: Yes, I would consider myself an Entrepreneur. I believe anyone who starts a business that can create revenue and supplies a product that consumers will pay for, is an Entrepreneur. I think that Entrepreneurship can take many different forms and there is no white and black answer.

3.    Anything that you wish you had learned in school or would recommend to me to learn, regarding entrepreneurship?

SE: One thing that I really believe helped me was learning and developing a hard work ethic. That is extremely important regardless of what type of business or field you go into. Study shows that it’s not mainly your natural talent that will make you successful or not, it really comes down to just being able to work hard and effectively.  So, I would highly recommend doing just that while you are still in school and coming out of school.  Developing a good work ethic.

Reflection: The interview went really well, and the fact that we are good family friends made it easy. He is a very nice and smart guy so he was very open to helping me out. Since I also don’t know a lot about the jewelry business, it was interesting to hear and learn about it.

World's Biggest Problems

World's Biggest Problems

World Economy: The world’s economy today is hurting. Most of Europe is bankrupt, China’s growth is starting to slow, the Middle East is being beaten down by suppressed oil prices and political instability, and the US is still struggling with slow growth and low interest rates.

Solution: Stop all the quantitative easing, let interest rates rise back to a healthy normal levels, create jobs by taking away regulations and high taxes on the private sector, and cut down on government spending.

International terrorism: The increasing threat of terrorism. Everyday, there seems to be a new terrorist attack somewhere in the world.

Solution: Join up with other nations/countries to fight the terrorist organizations. Also, attempt to train the Middle Eastern soldiers and provide resources so that the fight can remain centralized, as well as keeps American soldiers out of harms way. This also will help to ensure that terrorist groups can’t quickly rise back up again.  

College Tuition: College tuition is a current problem and I believe it will continue growing into a bigger problem. Tuition today is getting more and more expensive and families are going into debt over tuition payments.

Solution: Stop tuition inflation. Limit the amount of student loans someone can pull out which will in result, decrease school income which will force them to lower costs.

Obesity: I believe that this is a major issue today. Obesity is at an all time high and I believe that it is a relatively solvable problem.

Solution: Teach consumers about what they are eating and what a healthy diet looks like. Encourage more exercise in school and life.

Lack of Clean Water: is a significant issue that the world faces today. Millions of people do not have access to clean water and therefore end up getting extremely sick from dirty contaminated water.

Solution: Help build infrastructure that supports clean sanitation. Finance sanitation projects in third-world countries.

Human Trafficking: Trafficking is a major problem today that isn’t talked about much. It is extremely sad and happens all around the world. These girls that experience it are extremely abused.

Solution: A solution could be to fund a lot more organizations to fight this problem. Also, use more investigative focus on trafficking.

Overpopulation: The world’s population is increasing every day and many parts of the world really do not have the resources to accommodate. Overpopulation leads to poverty, a decrease in natural resources, and a lack of food.

Solution: More contraceptive use. Teaching kids more about smart parenting as they grow up. Not encouraging government handouts and social security payments for having more children.

Consumerism: Consumerism is a big problem today that leads to selfish behaviors and greedy kids. The media and holidays such as ‘Black Friday’, leads to unnecessary buying and high credit card bills that people can’t afford.

Solution: Don’t offer credit as easy to individuals. Higher sales tax.

Child Labor: Many companies around the world employ impoverished children so that costs are cheaper. Many of these kids are physically and mentally abused by this work.

Solution: Encourage more local manufacturing and business by removing business regulations and provide benefits to companies that hire local well-paid workers.

Fast Food and School Food: Fast food and the food that most public schools provide are extremely unhealthy and also quite dangerous. This leads to obesity and lazy individuals. This also does not help kids learn what good food looks like and what bad food looks like.

Solution: Provide more healthy options at both fast food restaurant’s and in school cafeterias. Make fast food and unhealthy food way more expensive than healthy food. 

My Entrepreneurship Story

     I have always somewhat considered myself an entrepreneur.  From a very young age, I have always seen problems or limitations with certain practices and have created many theoretical business ideas that could provide solutions to these limitations/problems. I have two recent entrepreneurship stories that I experienced.

     Two years ago, my cousin and I entered a collegiate business plan competition where you had to develop a winning business idea, and really think through all of the different aspects of a business such as financials, competitive strategy, etc. We came up with a business called “Juntos” that was essentially a different type of Ebay. We made it all the way to finals with it before we were eliminated. It was a great experience and it put me in touch with some other great entrepreneurs.

     Additionally, this past summer, two of my friends and I started a business called RecoveryWithCare LLC. It is a post-surgical recovery business that is still being worked on today. The website is www.recoverywithcare.com. Our logo is posted underneath.

     I am taking ENT3003 because I have always been extremely interested in entrepreneurship and I believe that this course will give me a firm foundation in the subject.