1. The book I chose for this assignment is How to Fail at Almost Everything and Still Win Big by Scott Adams. The book discusses many common concepts within businesses and life that he thinks is wrong. For example, Adams believe that instead of setting goals, like what most of us are taught to do, set up a system that creates the process of obtaining your goal. Another main component of Adam's book discusses the importance of self-maintenance. He argues that the top priority to focus on for yourself is yourself. As you maintain your health, family, and relationships, then you will do a far better job at your business and/or employment.
2. It connect with what ENT3003 has been teaching me by both preaching the concept of prioritizing elements whether it is in your life or your business, we tried to find out which resources is your 'secret sauce' in which Adam's book points towards the fact that is yourself that is most important.
3. If I were to create an assignment for the class that relates to this novel, I would have the students create a system for their goal. Have them first set a goal that want to accomplish, then create a detailed process that explains what they have to do on the daily basis as well as general tasks that they need to do and accomplish that will eventually help them achieve their goal.
4. A surprising element of the book to me was the part where Adams discuss how success creates passion, and you shouldn't really prioritize passion in your employment. This really caught me by surprise because I've heard so many times, from successful people to my own parents, that if you chase your passion, you will be successful. However, Adam's approach to these two concepts was dramatically different from what I was used to.
Friday, July 27, 2018
Your Exit Strategy
1. My ideal exit strategy for my business would be to hold on to it for a while and see how things are. There wouldn't be any reasons that I can see now where I sell the business in the foreseeable future. Unless the workload becomes unbearable or it interferes with my personal life and goals, I would like to keep the business and tell my children about it.
2. The reasons for my strategy is because my business is an application that doesn't require a a large amount of human capital, and it is very unlikely for the business to expand into something huge where I am incapable of being in charge of it. However, I am not against the idea of selling the business if it gains momentum and I feel like that part of my life is done.
3. I think my strategy of hoping to keep the business by my side has influenced my decisions about the opportunity in a way that I am not so concerned about the application making a huge profit, but more so just solving peoples needs. I'd be making decisions to maximize my businesses chances of making a lot of profit if I had the goal of selling it in the future.
2. The reasons for my strategy is because my business is an application that doesn't require a a large amount of human capital, and it is very unlikely for the business to expand into something huge where I am incapable of being in charge of it. However, I am not against the idea of selling the business if it gains momentum and I feel like that part of my life is done.
3. I think my strategy of hoping to keep the business by my side has influenced my decisions about the opportunity in a way that I am not so concerned about the application making a huge profit, but more so just solving peoples needs. I'd be making decisions to maximize my businesses chances of making a lot of profit if I had the goal of selling it in the future.
Thursday, July 26, 2018
Celebrating Failure
1. An example of failure that I experienced recently was my inability to find a job during the start of the summer. I had the goal of working during this summer to try and save up some money for the future. When summer started, I began to apply for typical job positions that a freshmen college student would fit for (retail, restaurant, etc) However, I wasn't able to get any of the jobs that I had applied for, mainly due to the fact that the employers told me that they aren't really looking for seasonal workers. I was fairly discouraged at all my failed attempts.
2. I learned the importance of not giving up after your failures. Soon after my first couple attempts fell short, I found a great opportunity in a summer camp working as a counselor. It taught me how crucial and important it is to keep trying and reaching for the goal even if failure happened.
3. I typically don't like to deal with failure, after all, who does. However, I have realized that failure is inevitable and it is far better to treat it as a lesson and room for improvement rather to shy away from it. This class also showed me that failures are common especially in businesses, and how you respond to it can mean the difference between total failure or succeeding.
2. I learned the importance of not giving up after your failures. Soon after my first couple attempts fell short, I found a great opportunity in a summer camp working as a counselor. It taught me how crucial and important it is to keep trying and reaching for the goal even if failure happened.
3. I typically don't like to deal with failure, after all, who does. However, I have realized that failure is inevitable and it is far better to treat it as a lesson and room for improvement rather to shy away from it. This class also showed me that failures are common especially in businesses, and how you respond to it can mean the difference between total failure or succeeding.
Friday, July 20, 2018
What's Next
Existing Market
I believe the next step for my venture concept is to improve on the mechanism behind the application. The whole concept of being user-driven has some flaws within it. Also to finalize on the programming part and have the technology created. Once that is done, it will be to reach out to brands to make agreements on advertising.
After interviewing people within the market, the general feedbacks I received were that the application should take into account scooters and scooter parking. The reason behind this they said is because on our campus, there are more people that own and ride a scooter than driving an actual car. Scooter parking is something I haven't thought of including within the app.
It makes the most sense to establish contacts with the school to register to parking spots on campus within the system, and to also have programmers program those spots within the algorithms. I believe the technology part is at the forefront of the business plan.
New Market
A different target from what I am trying to target would be older generation of people that also have the problem of parking but don't necessarily have the same availability or usage of smart phones and apps. This is a completely different market because my venture concept relies heavily on the people using technology. This market presents a huge hurdle to get over.
An initial idea I had to cater to those people is to set up a phone line where they can call and receive the same updated version of parking map instead of having to utilize the app itself.
The result of the interviews were in line of what I expected, most older people would rather just look around for parking spots instead of calling a number and asking for directions. They also presented a good problem for the venture itself of how will the company make profit off those callers. This is a huge problem that makes the new market far less attractive than the existing one.
I believe the next step for my venture concept is to improve on the mechanism behind the application. The whole concept of being user-driven has some flaws within it. Also to finalize on the programming part and have the technology created. Once that is done, it will be to reach out to brands to make agreements on advertising.
After interviewing people within the market, the general feedbacks I received were that the application should take into account scooters and scooter parking. The reason behind this they said is because on our campus, there are more people that own and ride a scooter than driving an actual car. Scooter parking is something I haven't thought of including within the app.
It makes the most sense to establish contacts with the school to register to parking spots on campus within the system, and to also have programmers program those spots within the algorithms. I believe the technology part is at the forefront of the business plan.
New Market
A different target from what I am trying to target would be older generation of people that also have the problem of parking but don't necessarily have the same availability or usage of smart phones and apps. This is a completely different market because my venture concept relies heavily on the people using technology. This market presents a huge hurdle to get over.
An initial idea I had to cater to those people is to set up a phone line where they can call and receive the same updated version of parking map instead of having to utilize the app itself.
The result of the interviews were in line of what I expected, most older people would rather just look around for parking spots instead of calling a number and asking for directions. They also presented a good problem for the venture itself of how will the company make profit off those callers. This is a huge problem that makes the new market far less attractive than the existing one.
Venture Concept
Venture Concept for EZPark
Opportunity - The group of people that has the need that my idea is seeking to meet are people that drive on college campuses are often run into the issue of having a hard time finding parking spaces. This can be students, professors, staff, faculties, etc. The nature of the need is based on the person's desire to spend time and allocate the time spent looking for open spots on something that they find more meaningful.
- The forces in the environment that are creating this need are the increasing amount of population and the limited amount of land for parking spots to be created.
- Geographically, the market will be defined within the boundaries of populated areas, specifically college campuses. Demographically, the market will cater towards typical college students age from 18-28.
- The customers are currently satisfying the need by doing short cups such as risking a ticket to park somewhere illegally, or paying a lot of money for a spot near by the school and walking. They are not loyal to their current situation and are very willing to look and adapt if new ways occur.
- The opportunity is fairly big as the issue of parking will only continue to get worse if the status quo remains the same and nothing changes.
- The window of opportunity will be open as long as people are still struggling to find parking.
Innovation
- My innovation that seeks to meet the customers need about parking is an application that allows the users to see near by vacant parking spots that are most recent. By utilizing locational services as well working with the school to log all the parking spots on campus, the app will have a system where users can mark a spot as either taken/vacant. The app will also utilize a time stamp as to how long ago the spot was marked vacant to provide users the most accurate and updated version of the parking spots. Users to encouraged through a reward system to mark the spots as they use to app as a way to self-maintain the system and keep it updated. I have surveyed the main group of people that I want to cater this app to, and overwhelmingly the people liked the idea but they said they wouldn't want to pay for the app. The way for my idea to make money is to have brands such as Starbucks, Dunkin Donuts, Nike, Chipotle; brands that are popular among college students to have their ads as well as their brand being part of the rewards to pay the business to advertise as the main source of income.
Venture
- My innovation will address the opportunity I identified because people are tired of looking for spots by just driving around and wasting their time. It provides the users with a faster and easier way to find parking. Especially in a period of time where technology is so accessible for everyone, an application that seeks to solve one of the most common yet traditional issue in a modern way that also provides the users with rewards is the reason why customers will want this application/
- Customers will want to switch to this method because it will save them time and is overall a more conventional way to solve their problem. It won't be hard for them to switch at all because all they need to do is download the app.
- The competitor could possibly be the city of Gainesville and their street parking decal. The weaknesses for those is that is costs quite a bit of money and street parking is sometimes far from campus.
- Only customer experience play in my business concept because the application is reliant and the users to follow the mechanisms.
- I would organize the business in a small but cohesive way. I want to have a few drivers that will be hired to go around the campus and mark spots as open/taken just so the map stays updated even if users aren't marking them. As well as having people that seek to connect with brands in terms of advertising.
Reflection
- I think my most important resources are the human/social capital, the large amount of customers that are ready and present for the idea to launch, as well as my personal connections that will make the process of branding and reaching out to other businesses so much easier.
- I want to tackle cities if the idea works well first at college campuses, and then keep moving on to larger populations.
- I want to continue to develop ideas despite if this current one succeeds or fails. This first venture provided me with great background and backbone to how businesses work and what mindset is needed to do well.
Thursday, July 19, 2018
Your Venture’s Unfair Advantage
1. The best solution compare to the alternative.
V: Extremely valuable as people want an easier way to find parking and that's what the service is for.
R: Rare because there are currently no new ways to find parking besides just driving around.
I: Would be easy for others to create a similar application with the right resources.
N: Non-substitutable as of now.
2. A wide range of targeted audience to sample the idea.
V: Valuable because getting feedbacks about the idea is crucial to improve and adjusts.
R: Not rare because others can access this same group as well.
I: Won't be hard for others to do the same thing and gain feedbacks from a targeted group.
N: Cannot be substituted because other groups of people would not have this need.
3. The reward system incentive.
V: Very valuable because it encourages users to follow the mechanism that allows the application to work smoothly.
R: Not rare because other applications and businesses have utilized this.
I: Won't be hard for businesses to do the same thing as long as they have connections with brands that can offer them the deals.
N: Can be substituted with other rewards.
4. Knowing people with programming capabilities.
V: Extremely valuable as the application itself need to be programmed for it to become a business and I can save cost
R: Not rare because others can program as well.
I: Won't be hard to imitate because programming is common.
N: Can't substitute the programming otherwise the app won't exist.
5. Having brand connections to provide the rewards.
V: Valuable because this will path an easier route to gain sponsorships for the app.
R: Not rare because most businesses look to gain sponsorships.
I: Inimitable because anyone can look to businesses for sponsorships.
N: Can't substitute the connection.
6. Customers that are already willing to buy the service.
V: Valuable because the application is user driven, having customers at an early stage of the app is crucial.
R: Rare because sometimes it is very difficult for an application to launch at the start.
I: Won't be able to copy the customers as each of them are individual and unique.
N: Can't substitute customers.
7. More and more people are having access to smart phones.
V: Valuable because as more people have access to smartphones, the likelihood of them being exposed to the application goes up.
R: Not rare because technology is moving at a fast pace and everyone is being exposed to technology.
I: Easy to intimidate as everyone has equal access to people with smartphones.
N: Can't substitute as the people with smartphones is an essential part of the application.
8. Enough start up capital to create the business.
V: Valuable because there are costs that is crucial for a business to start up and having the financial ability to cover that is important.
R: Not rare because every business requires money.
I: Other businesses can have the same ability or even more capable financially to start.
N: Can't substitute what is financially necessary for a business.
9. Ability to put in the time necessary to work on the idea.
V: Valuable because as a college student I have more time to put into the idea as compare to if I was older with a job/family and other obligations.
R: Rare because sometimes ideas fade because not enough attention was given.
I: Other businesses can achieve the same result by putting in equal amount of time or more.
N: Can't substitute the time and effort that is needed to put into a project.
10. Ways to promote the application on campus.
V: Valuable because exposure is very important for a start up business to gain momentum.
R: Not rare because others have the same platform.
I: Can be imitated due to the variety of ways to promote on campus.
N: Cannot replace the promotion and advertising part of business.
I believe my top resources are my social capital ones, all the connections I have that can help me make the idea more efficient and cohesive. Those are extremely important than others because it is very difficult to get a business started with just one person, with more people the idea's capability to expand and become successful increase exponentially.
V: Extremely valuable as people want an easier way to find parking and that's what the service is for.
R: Rare because there are currently no new ways to find parking besides just driving around.
I: Would be easy for others to create a similar application with the right resources.
N: Non-substitutable as of now.
2. A wide range of targeted audience to sample the idea.
V: Valuable because getting feedbacks about the idea is crucial to improve and adjusts.
R: Not rare because others can access this same group as well.
I: Won't be hard for others to do the same thing and gain feedbacks from a targeted group.
N: Cannot be substituted because other groups of people would not have this need.
3. The reward system incentive.
V: Very valuable because it encourages users to follow the mechanism that allows the application to work smoothly.
R: Not rare because other applications and businesses have utilized this.
I: Won't be hard for businesses to do the same thing as long as they have connections with brands that can offer them the deals.
N: Can be substituted with other rewards.
4. Knowing people with programming capabilities.
V: Extremely valuable as the application itself need to be programmed for it to become a business and I can save cost
R: Not rare because others can program as well.
I: Won't be hard to imitate because programming is common.
N: Can't substitute the programming otherwise the app won't exist.
5. Having brand connections to provide the rewards.
V: Valuable because this will path an easier route to gain sponsorships for the app.
R: Not rare because most businesses look to gain sponsorships.
I: Inimitable because anyone can look to businesses for sponsorships.
N: Can't substitute the connection.
6. Customers that are already willing to buy the service.
V: Valuable because the application is user driven, having customers at an early stage of the app is crucial.
R: Rare because sometimes it is very difficult for an application to launch at the start.
I: Won't be able to copy the customers as each of them are individual and unique.
N: Can't substitute customers.
7. More and more people are having access to smart phones.
V: Valuable because as more people have access to smartphones, the likelihood of them being exposed to the application goes up.
R: Not rare because technology is moving at a fast pace and everyone is being exposed to technology.
I: Easy to intimidate as everyone has equal access to people with smartphones.
N: Can't substitute as the people with smartphones is an essential part of the application.
8. Enough start up capital to create the business.
V: Valuable because there are costs that is crucial for a business to start up and having the financial ability to cover that is important.
R: Not rare because every business requires money.
I: Other businesses can have the same ability or even more capable financially to start.
N: Can't substitute what is financially necessary for a business.
9. Ability to put in the time necessary to work on the idea.
V: Valuable because as a college student I have more time to put into the idea as compare to if I was older with a job/family and other obligations.
R: Rare because sometimes ideas fade because not enough attention was given.
I: Other businesses can achieve the same result by putting in equal amount of time or more.
N: Can't substitute the time and effort that is needed to put into a project.
10. Ways to promote the application on campus.
V: Valuable because exposure is very important for a start up business to gain momentum.
R: Not rare because others have the same platform.
I: Can be imitated due to the variety of ways to promote on campus.
N: Cannot replace the promotion and advertising part of business.
I believe my top resources are my social capital ones, all the connections I have that can help me make the idea more efficient and cohesive. Those are extremely important than others because it is very difficult to get a business started with just one person, with more people the idea's capability to expand and become successful increase exponentially.
Friday, July 13, 2018
Reading Reflection 2
1. The book I chose to read for this assignment is Makers: The New Industrial Revolution by Chris Anderson. The overall argument of the book is that the society is going to enter a "Makers Movement" in the future. Anderson claims that as technology advances, we are soon going to enter another industrial revolution. This time, the revolution revolves around individuals producing products in their own homes through digital softwares.
2. The content of the book connected with what ENT3003 is teaching me in the way that it shows the endless possibilities of thinking outside the box. By breaking free from the conventional way of thinking or conducting business, you are able to achieve far more than you can imagine. In the novel, Anderson talks about how a printer is often viewed as a one-dimensional tool. However, he views it also as a revolutionary act, a political statement, and so much more.
3. If I were to create an exercise around this book, I'd probably have the students possibly draft up a design of their own production business and what type of products they would manufacture and a brief explanation of their customers and industry.
4. A part of the book that surprised me was when Anderson described the new movement as similar to Second Industrial Revolution. I found this out of line with my expectations because I thought that so much has changed not only technology wise, but as a society in general. That for this futuristic movement to have many similarities to one that happened a century ago caught me by surprise.
2. The content of the book connected with what ENT3003 is teaching me in the way that it shows the endless possibilities of thinking outside the box. By breaking free from the conventional way of thinking or conducting business, you are able to achieve far more than you can imagine. In the novel, Anderson talks about how a printer is often viewed as a one-dimensional tool. However, he views it also as a revolutionary act, a political statement, and so much more.
3. If I were to create an exercise around this book, I'd probably have the students possibly draft up a design of their own production business and what type of products they would manufacture and a brief explanation of their customers and industry.
4. A part of the book that surprised me was when Anderson described the new movement as similar to Second Industrial Revolution. I found this out of line with my expectations because I thought that so much has changed not only technology wise, but as a society in general. That for this futuristic movement to have many similarities to one that happened a century ago caught me by surprise.
Elevator Pitch 3
1. https://youtu.be/AcH9eEH8m2s
2. The feedback that I got from Mario in my group really stood out to me. He pointed out a potential flaw in my mechanism about how the opportunity will fall apart if the customer simply doesn't utilize the system. That is something I haven't thought about before and really provided me with insight on how to approach my idea in the future. The other feedbacks were mostly on voice fluctuation and facial expression which i will continue to improve.
3. I changed my pitch to follow Mario's feedback by talking more about the unmet needs that my idea will satisfy and what extra services the application will provide to the users, and less about the mechanisms itself. This way, the potential hole won't be as obvious to the investors.
2. The feedback that I got from Mario in my group really stood out to me. He pointed out a potential flaw in my mechanism about how the opportunity will fall apart if the customer simply doesn't utilize the system. That is something I haven't thought about before and really provided me with insight on how to approach my idea in the future. The other feedbacks were mostly on voice fluctuation and facial expression which i will continue to improve.
3. I changed my pitch to follow Mario's feedback by talking more about the unmet needs that my idea will satisfy and what extra services the application will provide to the users, and less about the mechanisms itself. This way, the potential hole won't be as obvious to the investors.
Thursday, July 12, 2018
Growing Your Social Capital
1. Christopher Relyea, a law teacher in Broward County for the last 15 years.
2. This person is under the domain expert because prior to his teacher career, he owned a large fashion apparel that targeted the same demographics as my business idea. While doing so, he has established networks with major clothing brands such as Nike, Addias, etc, as well as technological brand like Amazon. All of which are brands that my audience would be interested in getting rewards from.
3. I contacted this person through email. We remained in contact after graduating and I sent him an email explaining the assignment.
4. Mr. Relyea provided me with general business insights that everyone could benefit from, as he was once a business owner. He explained the importance of knowing your numbers in terms of everything that your idea is related to. He wishes to be kept in touch as my idea progresses.
5. Including him in my network is a huge benefit as he has many business connections for me to establish networks. He is overall one of the smartest person I've known and is great to ask advice from in anything.
1. Aaron Algave, a second-year finance major at University of Florida.
2. He fits under the market expert because he is extremely adapt in customer researching. The reason for this is because he had worked for Brooks Law Group, he was a legal blog writer for them that had to survey the audience of the topic he had to write about. He said he had learn the different methods and resources it required to effectively gather feedbacks.
3. Mr. Algave is a friend I met in college and I contacted him through text messages.
4. The exchanges were very informative as he told me that busy college campuses are among one of the easiest location to gather customer opinions. He also taught me the most approachable way to have the highest chance of successfully interviewing a stranger.
5. Having Mr. Algave in my network would give me great confidence in my ability to gather feedbacks about my idea. He is also someone that fits in my demographics.
1. Matthew Redler, a third-year business major that has a start up business, Ankor.
2. This person is the supplier due to the fact that his start up is selling services to a similar industry as me. people that are in college or post-graduates.
3. I met Mr. Redler at a career convention at my school, and we exchanged contact information and I emailed him about this assignment.
4. His responses were very helpful. He gave me a brief explanations on the basics of starting your own businesses, provided me with what he needed for his own start up and what he wished he had known. He also critiqued the opportunity behind my idea.
5. Having him in my network will provide me with a possible route to incorporate my idea in, especially if his start up gains momentum.
Overall, this assignment was a great step in making the idea a reality as it provided new feedbacks and possible networking opportunities. This experience was different from past ones because this time it was with an actual business idea rather than general networking.
2. This person is under the domain expert because prior to his teacher career, he owned a large fashion apparel that targeted the same demographics as my business idea. While doing so, he has established networks with major clothing brands such as Nike, Addias, etc, as well as technological brand like Amazon. All of which are brands that my audience would be interested in getting rewards from.
3. I contacted this person through email. We remained in contact after graduating and I sent him an email explaining the assignment.
4. Mr. Relyea provided me with general business insights that everyone could benefit from, as he was once a business owner. He explained the importance of knowing your numbers in terms of everything that your idea is related to. He wishes to be kept in touch as my idea progresses.
5. Including him in my network is a huge benefit as he has many business connections for me to establish networks. He is overall one of the smartest person I've known and is great to ask advice from in anything.
1. Aaron Algave, a second-year finance major at University of Florida.
2. He fits under the market expert because he is extremely adapt in customer researching. The reason for this is because he had worked for Brooks Law Group, he was a legal blog writer for them that had to survey the audience of the topic he had to write about. He said he had learn the different methods and resources it required to effectively gather feedbacks.
3. Mr. Algave is a friend I met in college and I contacted him through text messages.
4. The exchanges were very informative as he told me that busy college campuses are among one of the easiest location to gather customer opinions. He also taught me the most approachable way to have the highest chance of successfully interviewing a stranger.
5. Having Mr. Algave in my network would give me great confidence in my ability to gather feedbacks about my idea. He is also someone that fits in my demographics.
1. Matthew Redler, a third-year business major that has a start up business, Ankor.
2. This person is the supplier due to the fact that his start up is selling services to a similar industry as me. people that are in college or post-graduates.
3. I met Mr. Redler at a career convention at my school, and we exchanged contact information and I emailed him about this assignment.
4. His responses were very helpful. He gave me a brief explanations on the basics of starting your own businesses, provided me with what he needed for his own start up and what he wished he had known. He also critiqued the opportunity behind my idea.
5. Having him in my network will provide me with a possible route to incorporate my idea in, especially if his start up gains momentum.
Overall, this assignment was a great step in making the idea a reality as it provided new feedbacks and possible networking opportunities. This experience was different from past ones because this time it was with an actual business idea rather than general networking.
Friday, July 6, 2018
Idea Napkin 2
1. I believe I am well-resourced in the field of getting feedbacks and possible improvements from my idea. Since my application targets mostly college students, I have plenty of ways to get opinions and objective criticisms for my idea to be improved. I want to business to play a rather large role in my life, specifically for the remaining time I am at college. I want myself as well as my peers to utilize this app to make the process of parking on campus easier.
2. The service I am providing is a more modern as well as easier way to find parking. The app will have registered most of the parking spots on campus, and by utilizing a user-driven mechanism, where users log on and mark parking spots as taken or empty once they leave. When someone is trying to find a spot, the app will use locational services as well as time stamp to show the user the most recent vacant spot that someone has marked.
3. The targeted audience for my application are students, facilities, and staff that run into the constant problem of struggling to find parking spots on campus. Those demographics would also have an easy access to smart phones.
4. This idea is valuable for them for two reasons. One, it will provide them a more convenient route to find parking on campus, especially during rush hours. Second, by using the app and following the mechanism for a certain amount, they will receive promotional prices such as BOGO coupon and gift cards with the app's reward system.
5. I believe I have the ability of of motivating and relating to those around you. Through coaching high school debate for a few years, I have realized that in a tough journey like starting a business, it is essential to be able to work cohesively and efficiently with others, and lead that group when necessary.
I believe most of these elements fit well together for my business idea. The extensiveness of my resources with the targeted audience means very well for the public opinion side of the idea. A weak side of my idea would most likely be the developing phase. I'd need to find someone with a different set of skills that focuses on the technology side which I lack.
I did not receive much feedback from my previous idea napkin. However, from what I can gather from the comment I did receive the person made it clear that this application would be extremely useful during the rush hours on campuses. I have incorporated this feedback to the time-stamp element of my idea. The time-stamp will give the users the most accurate and recent update of open parking near you, which is crucial when there are an extra influx of drivers around that time.
2. The service I am providing is a more modern as well as easier way to find parking. The app will have registered most of the parking spots on campus, and by utilizing a user-driven mechanism, where users log on and mark parking spots as taken or empty once they leave. When someone is trying to find a spot, the app will use locational services as well as time stamp to show the user the most recent vacant spot that someone has marked.
3. The targeted audience for my application are students, facilities, and staff that run into the constant problem of struggling to find parking spots on campus. Those demographics would also have an easy access to smart phones.
4. This idea is valuable for them for two reasons. One, it will provide them a more convenient route to find parking on campus, especially during rush hours. Second, by using the app and following the mechanism for a certain amount, they will receive promotional prices such as BOGO coupon and gift cards with the app's reward system.
5. I believe I have the ability of of motivating and relating to those around you. Through coaching high school debate for a few years, I have realized that in a tough journey like starting a business, it is essential to be able to work cohesively and efficiently with others, and lead that group when necessary.
I believe most of these elements fit well together for my business idea. The extensiveness of my resources with the targeted audience means very well for the public opinion side of the idea. A weak side of my idea would most likely be the developing phase. I'd need to find someone with a different set of skills that focuses on the technology side which I lack.
I did not receive much feedback from my previous idea napkin. However, from what I can gather from the comment I did receive the person made it clear that this application would be extremely useful during the rush hours on campuses. I have incorporated this feedback to the time-stamp element of my idea. The time-stamp will give the users the most accurate and recent update of open parking near you, which is crucial when there are an extra influx of drivers around that time.
Thursday, July 5, 2018
Create a Customer Avatar
The prototypical customer for my segment is most likely a college student with the age range from 19-25. This is a typical college student, enjoys going out occasionally and just hanging out with friends. Just like most students, sometimes the customer struggles with waking up for class. They often run late, and the problem is worse after a nights out. They drive their car across campus, and almost always have their smartphones in their hands.
I have a lot in common with the prototypical customer. I fit most of the demographics in the segment, I'm a college students who struggles with getting to class and always have my phone on me. I don't think it's a coincidence that I have so much in common as my customer. I believe the reason for this is because I am able to realize the needs of myself as well as my peers and that is reflected upon the audience that is targeted with my idea.
Monday, July 2, 2018
Elevator Pitch 2
https://www.youtube.com/watch?v=nvZs3DI8-QI&feature=youtu.be
I was not able to complete the first elevator pitch assignment, so I did not have feedbacks to reflect upon. However, I did go through a few of my classmates videos and all their feedbacks prior to doing this assignment. A lot of the critiques I read were about having more vocal variation and make the pitch sound more alive. With that in mind, I tried to make my tone throughout the pitch more exciting and have vocal fluctuation. I also read that gesturing is a helpful tool when giving a presentation like a pitch, so I attempted to add hand movements at points that I want to have emphasis on.
I was not able to complete the first elevator pitch assignment, so I did not have feedbacks to reflect upon. However, I did go through a few of my classmates videos and all their feedbacks prior to doing this assignment. A lot of the critiques I read were about having more vocal variation and make the pitch sound more alive. With that in mind, I tried to make my tone throughout the pitch more exciting and have vocal fluctuation. I also read that gesturing is a helpful tool when giving a presentation like a pitch, so I attempted to add hand movements at points that I want to have emphasis on.
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