14a- Halfway Reflection

1.) What are the behaviors that you have used (or developed) to keep up with the requirements of this course?

I am taking 15 credits this semester plus an internship. Time managment is key for me. ENT3003 has a lot of work but it is duable. I expect about two maybe three assignemnts a week for this class. You will have assignemmnts that require interviews. For those assignemnts I reccomend doing them early. Finding people to interview can be a challenge because the professor does not want them to be people you know. I space out my lectures for this class to prepare me for the cupcake. If you take notes during the lecture you should get the points for the cupcake. This classes pushes you to think and be innovated, so that you be able to see business opportunities. 

2.) alk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

Some assignments are more work than others for this class. I am taking a lot of credits this semester and when I see ENT3003 assignments that are more in depth and require more time, I sometimes feel like skipping it. However, I have come to figure out that the assignments grow on each other. Giving up on one and skipping it would not be benificial. Maybe I would still get the A but at the end of the day what matters is if you learned something. ENT3003 is not about getting an A.

3.) What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?

Don't settle. When it looks like you are doing good, always tell yourself you can do better. Get inolved at UF and get out of the comfort zone. The more you do the more you grow. Opportunities come when you put yourslef out there. Find balance while in college. School work can get heavy sometimes, try to find things to do other than academics. Go to the gym or read a book in something you are interested in. 

13a- Reading Reflection #1

1.)    I read Shoe Dog. A memoir by Phil Knight the founder of Nike.

What surprised you the most? The shoe business was so much different back then. Shoe Dog takes place from the early 1960’s the 1980. Today shoes are highly engineered and are designed for very specific wear. Shoe prices were also a lot different and more expensive today. When Phil Knight first started his company, it was very small. His shoe business was not called Nike. The original name of hist first business was Blue Ribbon Sports. He started his business in 1964. I wasn’t until 1971 when he rebranded and started Nike. I was also surprised that Phil Knight got his shoe idea from a spontaneous trip to Japan.

What about the entrepreneur inspired you the most? I was most inspired by his dedication and work ethic. There were so many stressful times in his work where most people would have stopped. Phil loved his work. Running was his passion and selling running shoes was like a dream to him. It didn’t matter about the money. In the beginning of his shoe business he was making nothing. While he was making very little, he saw so much potential in his idea. Knight was a track runner at Oregon University and used his track connections to his advantage. He showed the importance of networking and how good communication pays off.

What about the entrepreneur did you least admire? Was not a fan of his love life. To me it seemed kind of creepy, but it is not my business. When he was starting his shoe business, he was a professor at Accounting professor at University in Portland. He ended up getting married to one of his students.

Did the entrepreneur encounter adversity and failure? If so, what did they do about it? Yes, he did many times. He was always short on money. For the most part sales were not an issue for Knight. His main problem was finding money. A lot of people around him did not believe and have good trust in Knight. They did not see success and ended their support early. People saw big competitors such as Adidas, and didn’t see how Knight could compete. However, Knight was determined and eventually got his brand in professional races. He had Prefontaine, one of Americas greatest athletes, sign a shoe deal with him.

2.)    What competencies did you notice that the entrepreneur exhibited? Knight was good a have good strong connections. He might not have had a lot of connections but the ones he did were very good. Knight was able to have connections overseas, which in the 1960’s was extremely hard. Communication was different back then.

3.)    Identify at least one part of the reading that was confusing to you. The part I found most confusing was the big lawsuit Nike was involved in with a big shoe manufacture in Japan. It was confusing because Phil Knight was the author of the book so it was obviously bias towards Nike. I am not sure how innocent Nike was in the law suit. I know Knight did some shady things with Japan and did some small lies. For example, Knight told the Japanese company that he had a shoes business before he actual had one, just so he could purchase shoes and stock up.

4.)    If you were able to ask two questions to the entrepreneur, what would you ask? Why? I would ask him if he thinks it is possible to start a business-like Nike today? I would ask him this because I would like to know what opportunities entrepreneurs have today. I would also ask him, when did he first see his Business as a success? I would ask him this because I would like to know if he always saw it as a success from the beginning, or it wasn’t until he started seeing lots of revenue and profit.

5.)    For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion? I believe Knights opinion of hard work is similar to mine. Hard work pays off if you are doing what you enjoy. Working hard at something that you love is great, even if you are bad. Knight loved sports and running. He put all his work into what he loved. He was good at writing and accounting but did not put all of his work into those skills. He used those skills to help his dream.

12A- Figure out buyer behavior NO. 1

My market segment: For this assignment I chose to interview three people who live in an off-campus apartment.

Interview Summaries:

Two of the students had a printer one did not. Two of them lived in apartment complex's that had printers. Some lived in apartments closer to campus than others. The student without the printer, lived in an apartment complex right across from campus. His apartment complex had a printer and did not find printing as difficult on campus as other because it was an easy commute. He said his apartment complex’s printer was not as reliable and seemed to always be out of ink. The two people who I interviewed that had printers lived farther from campus. The student who did not have a printer in the complex, said he strongly relies on his printer to work. He has a car but uses the bus to commute because he does not want to pay for parking. Printing on campus for him is inconvenient, especially when it is last minute. The other student that lives in an apartment with a significant distance from campus, had some of the same problems. However, this student did not live in a complex with a printer. He had one himself and so did his roommate. He asks his roommate to print if his is not working.  

How they solve the problem:

All three solve the problem differently. One student attempts to use his complex printer first then a printer on campus if it does not work. Another uses his printer first, then has the option for his apartment complex printer, and if that does not work campus. The other student will use his printer then ask his roommate, and the resort to campus.

What I learned:

I learned that on campus printing seems to be the last resort to the problem. For the student who lived closer to campus printing on campus is not much of a problem as it is to others. If the person first attempt of printing does not work the will allude to using the printer closest to them. For the students who lived off campus they preferer to either use their apartment complex printer or roommates printer before going to campus.  

Conclusion: The segment was bigger than I thought and can be narrowed down. People living close to campus could have been its own segment, as could people who live far from campus. The more options the student has the print, the less likely they will use printing app. I believe the printing app will be used before on campus printing. Studnets that have less printing options before on campus printing would be more likely to use the app. 

11A - Idea Napkin No. 1

About Me

My name is Tyler Pratt. I am a junior at the University of Florida majoring in Food and Resource Economics with a specialization in marketing and management. I am also pursuing a minor in Business Administration. I have a talent with marketing. I am currently involved with the American Marketing Association. Last semester with AMA, I worked on a marketing project with Yin and Yang Apparel, a startup street wear and music festival clothing company. This semester I have a marketing internship with a local craft beer store and restaurant. I am running all the social media platforms and helping raise awareness of the company. I believe with my skills in marketing and promoting business's on social media will help me launch my printing app. A good business idea can not going anywhere if it is not marketed well.

What am I offering.

I am offering a product that takes away the stress from last minute printing for college students, or simply an alternative way for people who do not have a printer or have a printer that is not working a way to print. I have seen borrowing apps, mainly for college students. For example, there is a borrowing app for game day outfits catered towards college students. My app will have a similar concept to a borrowing app. I am also thinking about adding more things to borrowing app such as coffee machines. Many students want that fix of coffee in the morning or at night to study. Being able to buy coffee directly from a college neighbor can save time and money. For students who do not have a coffee machine they tend to go to the Starbucks and buy over priced coffee. Sharing a coffee machine would save money and give students loaning their machine money.

Who am I offering to

I am offering a product that caters towards college students. Money and time are usually short. Students are always busy and always broke. Not everyone can afford a printer or a coffee machine. But these things are a necessity for many students.

Why I care.

I am a college student and I can relate to the struggle. I have had trouble with printing and prefer a cup of coffee while studying for an exam. I also like marketing and would have a great time marketing a product that I believe benefits college students.

My core competencies

There are borrowing apps out there, but as far as I know the ones that cater towards students are for clothes. This app stands out because both parties benefit. The person loaning their equipment makes money and the consumer gets what they need at a good and fair price.

Summary

The five elements do fit together. My business concept is not directly related to my major, club or internship. However, I believe I have learned key concepts and tools to help grow a business. Being able to know what I am offering and who it is for is important. I can be offering something that is really good. However, if I am not offering it to the right person it is bound to fail. I do not have experience with how to create an app, which would be my week point. I need to know how other borrowing apps function.

   

10a - Elevator Pitch

https://www.youtube.com/watch?v=RdBYKEJmZHc&feature=youtu.be

9a - Testing the Hypothesis Part 2

Who: My opportunity was with college students who needed a more reliable way to print. In my new interviews I reached out to some online college students. I also interviewed some people who are recent college graduates.

What: The online college students I talked to didn’t have the same printing issues to the extent of on campus students. Some of the online students print but, a printing app wouldn’t be as convenient. The only online student that saw the app as a bonus was a UF PaCE student because he lived near campus. The some recent graduates I talked to had printers, and others did not. In one interview the person said she did not find it as difficult as it was in college. One told me he finds himself printing a lot more than he did in college. He has a need to print more important documents. 

The printing opportunity seems to be bigger near the college but is still a need outside.

Why: Online students turn all their assignments through canvas or email, unlike on campus students who can have assignments due in person and need to be printed. There was a UF online student who interviewed, and he lived near campus because they are in the PaCE program. While, this person turns all of his assignments on canvas, he prefers to print sometimes. The recent college graduates I interviewed had some problems with printing but not to the extent of existing college students. One reason was, almost all had printers and unlike college students, they had jobs and could afford buying new ink. Another was, if their printer was not working their job had one, they could use for free. Not every recent grad had money or a had job that offered printing. 

Inside the boundary

Who

• ·       On campus college students who do not have a printer
• ·       PaCE students
• ·       Younger people recently out of college who do not own a printer

What

• ·       Any student who is struggling to print an assignment
• ·       Students who prefer print but cannot print
• ·       People outside of college who need to print a document but do not have the means to do so.

Why

• ·       On campus college students still need to print assignments in and turn them in on print
• ·       Some students prefer print over constantly looking at a screen
• ·       Not everyone owns a printer. Younger people outside of college do not own printers sometimes. They might need to print an important document but can not.

Outside the boundary

Who

• ·       100% Online college students
• ·       Young graduates with a stable job and who own a printer

What

·       Do not need the frequency of printing

·       Already have reliable ways to print

Why

•  ·       Own printers and can afford ink
• ·       Their jobs have printers
• ·       All assignments are turned in through canvas or email.