Sunday, December 1, 2019

30 A Reflection

ENT 3003 was a great class that truly sharpened my skills as an entrepreneur and helped me become much more vigilant in looking for opportunity around me.

  • The most formative experience in this class was learning how to analyze your own issues in the business. I run my own small online business, so I sometimes have issues that I'd love to correct, like conversion rates or abandoned carts. Through ENT 3003, I learned about the categories of features customers face, from Exciters (awesome things about your brand), to the features you just deal with, and even the features you hate. All are important in improving your business.
  • I really enjoyed the elevator pitches. I liked talking about something I'm passionate about, and it gives you good experience in how to communicate business ideas to others. Plus, the feed back helped me improve on my pitch.
  • I'm proud of accomplishing a venture concept. That is a big analysis of something you're doing (almost like a business plan), so to do such for just an idea was a big step for me. If I have a great idea for a business, that will be one of the first things I'll do.
 Now that I've finished the course, I truly believe I have an entrepreneurial mindset. Before the class, I truly looked for opportunity in every aspect of the world- from the Internet, to small corner stores, to groundbreaking businesses. But after finishing the class,  I think I have the skills necessary to carry out these ideas. Or, at least, enough insight to go and get help from entrepreneurs around me. I also think I can characterize good ideas with bad ideas now. I can look through the possible risks that putting that idea into action would create, and then judging whether or not it's worth pursuing. All of these skills are essential to being a great entrepreneur.

One recommendation I have for future business people and ENT 3003 students is to keep an open mind. Even if you don't think you're interested in having a business some day, still be curious. The world nowadays respects those who take risks, and no doubt about it, entrepreneurs are risk takers. However, the payoff is remarkable, and if someday you wake up hating your job, you can always come be an entrepreneur.

Image result for entrepreneur

29A Venture Concept 2

Opportunity


There are two big issues our planet currently faces. The first is the steep incline of plastic in our society. We're producing so much (150 million tons) that the planet is dying due to it. Second, the world has too many hungry humans. We know that 30-40% of food created is wasted. However, we still have 815 million hungry people globally. The opportunity here is quite simple- two big global issues that can be solved using business as a mean of solution. Bulk food stores are a very apparent solution, as they provide less waste, and people who shop aren't accidentally buying more then they can eat. People will want to help out, especially in a college town like Gainesville, so it will most likely be a success.
  • Human ignorance is the main problem causing this opportunity. We keep creating more than we can maintain, and this is killing our Earth.
  • Global is possible (and will probably happen sooner than later), but right now college towns with concerned populations is most attractive.
  • Younger college students want to transition, but it's still hard to make big changes. A BFS would help them and help the environment as well.
  • This opportunity is big and still growing. 
  • The window will be open for a little bit, but companies are doubtful to transition just yet, making it the perfect time to open.
Innovation

Bulk food stores are stores that don't have packaging, or pricetags. You get paid by the pound on how much food you consume. It's cheaper, more sustainable and even more attractive to younger audiences. We can undercut other grocery stores in the area, while also advertising our environmental impact. That way we can drive in more business.

Venture Concept

My innovation is simple: Provide low-cost bulk food that creates less plastic and food waste than other grocery stores. 
  • Customers would switch over, as they feel guilty of their impact on the environment, and want to help in any way possible. This would draw customers away from other stores too.
  • The competitors are Walmart and Publix (big superstores or grocery stores). These places provide the same service without any environmental benefit. So if we could help them out, then we would be much better off.
  • Packaging is very limited, price points are low as possible, distribution is through storefront, customer support is small but there (limited employees), and location is vital. A low-budget attitude is taken place when making a BFS, which can help bring in young customers.
Minor Elements

1. Our secret sauce is that we are environmentally ahead of others. While they adapt, we already forecasted the market, and it will definitely work in our favor.

2. Next, if we were successful, then we would definitely work on branching out our brand while also keeping close to college campuses that we know our profitable.

3. Finally, I would try to teach someone how the business runs, who is also passionate for our world and it's issues. Then I would bounce with my royalties and watch as it becomes the #1 BFS in the world.

Feedback and Changes
A lot of people enjoyed my idea, which is good. It's important that people at UF like the idea, because they would be the potential customers. However, I got some good feedback after I did my first concept. One was that I should add more facts to my opportunity. Someone said they understood the issues at hand, but by giving some facts, it would be much more dramatic and cause them to truly think about their past decisions, and what they can do in the future (like shop at my business). I also was told to stress my secret sauce is that we're not focusing on the present- we're focusing on the future. That's why I stressed that we are ahead, and while others adapt, we work on forecasting where we need to be, not screaming about issues now. Finally, I highlighted where I wanted to be, which is leaving the business in the hands of somebody capable, who has the same values as I do. Then I know the company will be profitable once I leave.

Image result for bulk food store

Monday, November 18, 2019

28 A Your Exit Strategy

1) My dream would be to grow my business, until it can run completely on it's own. Then, I would let it keep making me money passively, while I would have to put little amounts of work in here and there to make sure everything is running smoothly. Finally, in around 15-20 years, if it became too much work, or if it was time to liquidate my assets, I'd sell the stores for lots of retirement money.

2) This is the same type of thing my father did, and it worked very well for my family and I. Personally, doing the same thing would give me the same quality of life as my parents, which is all I need to be happy in this life.

3) My exit strategy proves that I'm in it for the long run, so I definitely look towards making the opportunity work for me. I think that in whatever venture I choose, this would be my plan for most of them to exit. So when I look at new opportunities, I should always keep this in mind!

27 A Reading Reflection 3

For my reflection I read "Elon Musk: Tesla, Space X, and the Quest for a Fantastic Future" by Ashley Vance. It was very intriguing to see an influential entrepreneur, and how he grew up.

1)

  • What surprised me the most about Elon was honestly that he was always different. He loved things that people didn't even admire back then (like computers and coding), and his mother stated he'd always go into long, deep thinks where he would sit for hours imagining things outside our comprehension. Very interesting.
  • I most admire Elon Musk's persistence. Bullied terribly in South Africa, he came to America where he wandered and did odd jobs for a bit, then failed multiple companies until striking gold on Paypal.
  • I least admire Elon Musk's fear of intimacy. Ashley Vance, the author, said Musk is built like a walnut, who is extremely hard to crack and dive deep into his thoughts. I'd like to be an open book to everyone and a friendly face to all.
  • The adversity that Elon Musk endured is incredible. Born from divorced parents, he was bullied for being a nerd by the jocks of South Africa. He was pushed down stairs, left to bleed, and one time they made his best friend shun him or they'd beat him up. This would tear down a regular person, but Musk put his passion into his brain, thoughts and future.
2) Elon Musk had three main, awesome competencies that are essential for entrepreneurship. One was his ability to think and visualize solutions. Not many people can see things so clearly, but any solution Musk had, he had the ability to create it in his head down to the smallest details. This is extremely helpful in problem solving. Second is his persistence. Stated above, he was bullied extremely hard, and most of his companies were shot down for being "too absurd", when in reality he was designing the future he dreamt of. Third, I think Musk's ability to solve issues is impeccable. From the multiple failed launches of Space X to the almost impossible build of the Tesla, Musk has solved all types of issues with the help of others.

3) One part that I didn't expect was how rough Elon Musk's younger life was. Apartheid had it's affect on younger kids, so the jocks were worshipped and would prey on the week. Elon Musk's birthday gift to himself was to escape this nightmare and move to Canada, where he roamed and did odd jobs for a while. I thought he went right into the big things, but I guess everyone needs time to find what they really want to do.

4) First question: So many people have negative things to say about you, from 4.9 billion in government subsidies, to the choices you make with your company. What do you have to say to them? Do you think your actions will make the world a better place overall?
Second question: To young entrepreneurs, what is the best thing they can learn early on to get ahead?

5) I think hard work to Elon Musk was just something embedded in him. Instead, I think he was fueled by passion and a vision for the future that he couldn't let go of. And he has done everything he can to reach that dream. I think that's something everyone can look up to.

26 A Celebrating Failure

1) This past semester, I have applied for many positions or clubs that I've been rejected from. It's upsetting, because most of the time I feel as though my resume is built correctly, and I would fit in great with the club/position I'm applying for. 

2) I learned a lot; one is that I'm extremely persistent and not deterred easily. Secondly, I've learned the importance of networking and making those extremely good connections that help you later on. Thirdly, my interviewing skills have improved massively and I've become a much greater at knowing what to say in order to be remembered.

3) I hate failing- but I know it's extremely important to grow and become better at everything. But I've learned to keep going, always, in the face of resistance and failure. Overall, I want to be an entrepreneur in the future, and know that being positive and working in the face of adversity and failure is vital to being successful. I believe that's what this class has taught me. I have to keep going even when it all looks rough ahead. I'm much more ready to take risks now, because I know it's not the end of the world if I fail, and if I do, I'll at least learn from it.

Monday, November 11, 2019

25 A What's Next?

Existing Market
My existing market is the college students buying from my bulk food store.

1. I first interviewed a 21 year old named Maddy. She told me that if she was running the store, she would reach out to college students as "influencers" to market the store in their clubs, organizations or greek groups in order to increase customers and overall revenue.

2. Then I interviewed a girl named Jessica (20). She is very involved with environmental issues and told me the best thing to do is to advertise on campus the overall impacts that our store has. She said this could greatly increase the amount of people showing out, because they'll know we're an eco-conscious store that cares about the Earth.

3. Finally, I interviewed a guy in class, Joe (22). Joe let me know that he thought by moving to other college campuses, we could increase the amount of influence we have, and keep recreating the same model every-time to be successful in each town.

Overall, it's extremely interesting to see what students at the school are suggesting; this gives me more insight in the future as to what I can do. The plan would be this. First, open the store. Then set up openings for store influencers (people who table at Turlington or hype up our business at meetings in exchange for pay or discounts). These influencers then will stir up traffic into our store, greatly increasing sales and buzz about the new bulk food store in town. Slowly, we will grow the business, and when it's booming and requires no more work, we will move on to new towns.

These new towns will consist of other big, profitable college campuses who have an emphasis on helping the environment. Then, we can move in, do the same model (hiring college students to hype us up), and then taking over the bulk food store market there. We can spread like this for a while.

New Market
For a new market, I decided to look at the business-to-business model, by selling bulk food to other smaller stores.

1. I talked to a Publix Manager, Mark, who has looked at bulk food as a possible option. He said by creating more businesses, and then transitioning to bulk selling to other stores is dumb. He said I'm better off looking for an easier way to accumulate a bulk food path from factory/farm to Publix, and we would be payed monthly for that path.

2. I then talked to a small convenience store owner, Todd, He said that as a business owner, it would be difficult to create a bulk food path for smaller stores, but doable. He advised it'd probably be easier to create your own bulk food supplies and then sell them yourselves, instead of being a middleman.

Overall, this market does not seem as attractive as the last market. Business to business is extremely hard, when the model I've been planning on doing the whole time relies on customers. However, some of the suggestions were intriguing. It would be interesting to create a bulk food path from farmer to store, which costs less money and less inventory than any of the other suggestions. But this means that we would be working on the inside, and not publicly building a brand, which is half the project.

The brand showcases our compassion for the environment. Without the brand, we will have trouble growing, and this will be detrimental to our mission. Therefore, I believe our existing market is the way to go to create the greatest amount of growth in the long run. Plus, the storefront with our existing market will be the best for the environment, too.


24 A Venture Capital

Opportunity

Right now, we're facing two extremely prevalent issue. For one, plastic is on a steep incline. Our dumps, cities, forests and oceans are being filled with plastic, that is not bio-degradable (we produce 150 million tons a year). This plastic is choking nature, killing animals, plants and, overall, the quality of the Earth. Secondly, the world is extremely hungry. Just in the US, it's estimated about 30-40% of food created is wasted. And yet, over 815 million people globally suffer from chronic undernourishment. So with these two big issues, there is a way to make a business that not only is profitable, but also benefits these causes and creates an overall positive impact on this Earth. This opportunity is bulk food stores (grocery stores that don't have boxes, you bring your own jars and fill up with what you need as needed). These stores are for environmentally conscious consumers, but as time moves on, every individual who can buy food cheaper and help save the environment. At the beginning of its life, the customers targeted are college students, with lots of knowledge and passion for the environment, who want to save the Earth, which makes Gainesville a great place to start. The nature of the need is simple- people feel guilty for what prior generations have done to increase poverty and decrease the environmental health. Therefore, they are more likely to take action in their own hands and do what they can to help, like buy at bulk food stores.

  • The forces creating this opportunity is human ignorance to the problems lying in our world. We keep creating excessive plastic, and wasting food, when in reality we need solutions like bulk food stores to battle these issues.
  • This market geographically can be global, but at the start will rely on the city of Gainesville and the population of UF to fulfill its needs. Demographically, anyone can buy, but the target would be young people in their 20's to 40's, as their more likely to get involved and shop.
  • Younger customers right now are trying to limit their plastic waste by reusing items, like straws and bottles, but a bulk food store can make these issues much easier to solve. If the solution, like BFS are easier, than they would easily transition over.
  • This opportunity is big and still growing. 
  • The window will be open for a little bit, but companies are doubtful to transition just yet, making it the perfect time to open.
Innovation

This new innovation is bulk food stores. These stores are new, as nobody is offering unpackaged, pay-by-weight grocery options like bulk food stores do. You pay for the exact amount of food you want, which is cheaper, requires less plastic and overall creates less food waste overtime. In this way, we will make money by undercutting our costs compared to bigger stores, while advertising our positive impact on the environment. That way. we'll be able to drive in more business, even though our inventory and employees cost less than bigger stores, so we'll make more profit.

Venture Concept

My innovation is simple: Provide low-cost bulk food that creates less plastic and food waste than other grocery stores. 
  • Customers would switch over, as they feel guilty of their impact on the environment, and want to help in any way possible. The switch shouldn't be hard, as long as the new alternative (bulk food stores) is easily accessible and still generally cheap.
  • The competitors are Walmart and Publix (big superstores or grocery stores). These places provide the same service without any environmental benefit. The only way to beat them is to stress their impact on the environment, compared to our benefit to the Earth.
  • Packaging is very limited, price points are low as possible, distribution is through storefront, customer support is small but there (limited employees), and location is vital. All of these elements will stress the low-budget bulk food store we're looking for that has the greatest profits and environmental impact.
Minor Elements

1. Our secret sauce is this: one, the younger generation cares much more about the environment than other people do. They are much more likely to buy at bulk food stores than older generations have been. Second, by being the first in the business, we'll establish ourselves as the most notable and ethical bulk food store brand, keeping customers for longer when the market picks up.

2. Next, if the Gainesville venture is successful, would be spreading to other liberal/"eco-concious" locations to build up our storefront. Then, move into every town buy giving low-cost substitutes to big brands.

3. Next for me would be working on it until I wasn't passionate in it, than handing it down and working on something else (while making royalties or shares of my business).

23 A Unfair Advantage

MY TEN RESOURCES (FOR BULK FOOD STORES)

Knowledge about sustainable shopping
I run my own brand of sustainable goods, so I contain valuable and rare insight into what shoppers want in an eco friendly brand. Because this is an up-and-coming idea, it's hard to imitate and it's the only substitute I know of at the moment.

Less inventory to setup
There is less inventory involved with setting up a bulk food store, which is rare among other stores.

Adaptability to the culture
I have an ability to understand where the eco-friendly niche is heading, therefore I can adapt when necessary to fit the changes. This skill is both valuable and rare, and although its not inimitable, it's still a good skill to have.

More eco-friendly
This business is extremely environmentally friendly, with less waste and plastic involved than other businesses. This is a valuable and rare trait we can use to attract more customers. You can imitate it, but the substitutes are currently non-existent.

Work Ethic
I have extremely good work ethic, after working in my parents restaurant for so long. This skill is definitely valuable and rare in this workforce, so I should be able to beat others out in the same area.

Community
Through a bulk food store, you can create a community that is rare among other stores. Through a passion for the Earth, there is an actual community at these stores, that can not be replicated at Walmart or other stores.

Money
I got money. Rare and valuable resource.

Less employees
Bulk food stores require less employees, as stocking and other jobs are less frequent than at other bigger stores. This makes us keep money, a rare and valuable resource, while differentiating us from competition.

More traffic by college kids
By building the business in a college town, we can dig into the emotional gravity that college students feel about our environment. Their more invigorated to save the Earth, a rare and valuable asset that can be used to increase our bulk food store's profits.

Persistence
I am extremely persistent. I will be told no 1000 times, and yet I just keep trying. This is my most valuable and rare skill, that cannot be substituted or imitated. Sure, others are persistent too, but I will never give up.

MY TOP RESOURCE: Persistence
This would be my top resource because all of these other resources may come and go, but I will never stop trying. It's something that can't be taken away, and when starting a business, it's the most important skill to have. That's why it's at the top of my VRIN scale and my most important resource.

Tuesday, November 5, 2019

22 A Elevator Pitch 3

https://youtu.be/Dwe-8JXYoy4

1) My feedback was mostly positive, although I had some feedback as to make it better. One was that I didn't seem as personable as I should be. As I'm talking about a touchy and emotional subject, environmental issues, I should seem a bit more sensitive and not as bland. Secondly, I seemed not as professional as I could be. My posture was slouched and timid, and I could have been more loud and excitable.

2) Based on the feedback I tried to really work on my posture and business presence. I wanted to communicate that I had a full and interesting business proposition, not stating some idea that I might have in store. I think this helped me look more professional and persuasive. Secondly, I used my hands a lot more. I wanted to convey more emotion than my last pitch, so by using my hands meaningfully, I think I did that.

21 A Reading Reflection 2

1) I read Guy Kiwasaki's "The Art of Social Media: Power Tips for Power Users", mostly because I run a dropshipping business, and use my social media as my main source of traffic. The general theme of the book is telling us how to look more professional and competent online, and in turn create content that will inhibit more likes, comments and followers.

2) This book enhanced a lot of my views about business and entrepreneurship in general. Guy states in the book that social media is the most important marketing tool out there right now, as it's instant, free and easy. So, in order to raise a profitable business, you must have a general idea how to harvest the power of social media. Entrepreneurship is all about solving problems, and by using the best marketing tool out there, you can target a much larger audience and solve problems on a bigger scale.

3) I would actually think it's be fun to run a social media account for the semester, and see which student gets the most followers. It'd be an interesting activity that actually constitutes real merit in the business world. By harvesting the best social skills, like content creation, competency and engagement online, you can set yourself apart on social media. Have everyone start an instagram or twitter, and have it be about anything. Then, as the semester goes, you can log how many followers were gained, how their engagement rate is and who is doing the best job at creating viral content. It would be fun and interesting, plus if you get a lot of followers you can sell your account at the end.

4) The "aha" moment for me was realizing that every type of social media has a timeline. For example, Instagram's post are typically engaged for 2-3 hours before they die out. For Pinterest, they have no timeline. And for Twitter, it's about only 20-30 minutes! Knowing these timelines is important, meaning that you should post more frequently on some forms of media, and not so often on others!

Monday, October 28, 2019

20 A Growing Your Social Circle

1) The first person I met who is a domain expert is a guy named Steve. Steve is especially well versed in e-commerce, a field that I'd love to be more knowledgable of, and I found him through mutual friends. We sat down and talked, and he showed me what he was working on (a Shopify store among other things) and I asked him what it took to run an online store. He taught me all about it and then we parted ways. He said whenever I want to start up my own store, just give him a call and he'd help walk me through it. By keeping this guy in my network, he will help create a skill that could increase my capabilities in the market.

2) The second person I met was a older man, around 30, named Mark, who runs a store selling eco-friendly bulk foods. He's a family friend and I sat down to talk to him about his drive in the market. He told me about why he got into eco-friendly business, and how I could do so too. He taught me that it's actually a less-expensive alternative then everybody makes it out to be, if done correctly. In the future, I will keep up to date with him, as he and I have generally alike target audiences, and he will be able to help outline changes in their consumption patterns.

3) Finally, I talked to my dad's friend Dave, a guy who does packaging for other businesses. He said his jobs a little complicated but overall most links are sold through online methods. He pretty much outlined my how he did his business, and what I would have to expect with a sustainable packaging endeavor. Many businesses would go with regular packaging out of convenience, but was sure with the sudden upturn in sustainability, we could make it happen. Dave is good to keep because he's a valuable insight in the long-time business.

Overall, targeting networking is strange, but it works, because people with like minded ideas often have like minded interests as well. I got along with all three of these people, because of my ability to connect and ask meaningful questions. I would definitely do this again to get more insight into how to network and find more business.

19 A Second Shot at Idea Napkin 2

1) My name is Nick Baldino, a sophomore marketing student at UF. Personally I'm someone with a drive to work hard and be successful, so with an accompaniment of skills in digital marketing, e-commerce, writing and many others, I believe I can be someone who can make big changes on this Earth. I love nature, surfing and the gifts that the Earth gives us, so I aspire to be an ethical businessman, someone that makes money but with intentions on helping our Earth stay healthy. I want to create a business that can give back to the environment, or at the very least, make little to no impact on our Earth.

2) What I'm offering is an online service to other businesses. We know that the world is changing, and more people are demanding companies to slow down their waste consumption and create alternatives to single-use plastics. Our company is your solution. We have low-cost compostable packaging that is usable to package all products big or small.

3) We're offering this service to any business wanting to make a change in their environmental footprint. More so, we're offering an extremely eco-friendly and low cost packaging plan that is less wasteful and costly than our competitors. The companies that we're selling to are small businesses, generally 40-50 employees, who are exporting a notable product that needs packaging. Most of these businesses will be selling from their online stores, making it easier for us to package their products and ship them out.

4) As this world's view of businesses change, from prioritizing "lower cost" to now wanting "eco-friendly service", businesses must change too in order to survive. By not linking with our business, you'll be left behind in the old world of lowest cost, no matter the impact. But if you choose to implement compostable packaging, you'll gain reputation as an eco-friendly brand, along with attracting more sustainable customers.

5) What sets us apart is that we have 2 goals: one, to lower our impact on the environment by offering a sustainable solution to wasteful packaging, and two, help businesses limit their plastic waste by providing a low cost alternative to their current packaging. Other companies like us are either secretly hurting the earth or the business; however, we are focused on accomplishing both.

I believe in this idea napkin, I did a better job knitting together what my mission was for the brand, and how to accomplish it throughout it's run. Last time I gave very small details about the business, but I feel this time I showcased what it was, why it mattered and why a business should get involved with us. Overall, I think it's possible to make this business a reality, if given a little more planning or product testing.

For the feedback, I feel like I implemented it into this idea napkin. It mostly talked about how sustainable costs often drop (like with electric cars), so I implemented how we could make it low cost.

Sunday, October 20, 2019

18 A Customer Avatar

My customer avatar for bulk food stores is about 22, fresh out of school with an abundance of knowledge. Because of their phone usage, they're very informed about the issues that plague our society, and most scared about issues like plastic pollution, sustainability and climate change. They know politicians like Bernie Sanders or Elizabeth Warren have taken note of these issues, so it's likely they'll fall into this category. Furthermore, a lot of these customers will be women, as a large majority of women do grocery shopping, as well as care deeply about these issues, when compared with their male counterparts. Their insight into these issues also sink into their purchases, like a eco-friendly car and other small changes. Hobbies they enjoy are hiking, being outside and even attending local political rallies. Overall, this customer is involved, passionate and environmentally conscious.

I believe I have some aspects coinciding with this market. I'm not entirely in their "boat" when it comes to involvement and political parties, but I do care deeply about the environment, and my outdoorsy hobbies make me want to take a stand and make it healthier. That may be one reason I chose this idea and want this idea to become a reality.

17 A Elevator pitch 2

https://youtu.be/P84PUOj5x2M 

Overall I think this elevator pitch went a lot better. I tried to be more personable and driven, but also clear with my idea. Last time I wasn't as open, didn't talk as clearly and rushed my idea. This time I slowed down, made good executive presence and delivered my idea from beginning to end.

Monday, October 14, 2019

16 A Secret Sauce

My Human Capital Traits

  1. I think I am an extremely creative human. My mind is always humming with things to do, start or create. I love to do creative activities and just think outside the box. I feel like this is a skill that's necessary in any career or aspect of life. 
  2. I believe I have really good work ethic. I've been working since the age of 12 at my parents restaurant, and ever since I have developed a pride in everything I work on. I feel like it's a reflection of myself, so when I work on things I'm passionate (or not passionate) about, I make sure I do the best I can.
  3. I'm extremely persistent. When I want something, I get it, and when I don't get it, I try harder to get it. I don't give up easily, and better yet, I rarely get discouraged. If I do, I reset for a second, and then go at the problem with even more vigor. 
  4. I'm enthusiastic. Everybody that is friends or works with me lets me know that they love my optimism. I try to always bring a light-heartedness to everything I do, and it's refreshing when you meet somebody that is passionate about succeeding, and yet very happy at the same time.
  5. I love to write. I enjoy writing about my experiences, life, and just stories in general. I want to write more, to strengthen this skill and create things that people enjoy.

What other people said about my Human Capital:

  1. I interviewed my dad first. He told me if one thing were to stand apart about me, it would be my work hard, play hard mentality. He said he loves that I work so hard and yet still have time to do the things I'm passionate about. He stated that if you keep that skill throughout your life, you'll be golden. Furthermore, he also said that my ability to love is contagious. He said that whenever I walk in, I light up the room with my love and enthusiasm for everything.
This was very insightful to me, especially from my dad, who is one of my role models. This advice will help me guide my future towards my skills and emotions.
  1. Next I interviewed my mom. She told me she always loves to see me, because my humor and personality are extremely enticing to be around. She said she misses when I leave, because a certain enthusiasm is out of her life for a bit. She also told me (as she was my manager for a while) that my ability to work hard will greatly assist me in this world.
My mom is full of wisdom, so this is helpful. She can see more emotional aspects of me.
  1. After, I interviewed my brother. He said that my ability to talk to other people, strangers or friends, is very useful. He said that I can talk to anyone and make them feel welcomed, and my ability to make friends so quickly is admirable. He also stated that whenever I'm in a room, I can always lighten the mood and make people feel warm and invited.
My brother rarely gives me compliments, so in this instance, it must mean that this skill is very good and prevalent. Definitely something I can work on.
  1. I also interviewed my sister. She told me that my creativity is unmatched. She kept saying that I always have the craziest ideas, dreams, anecdotes and everything in-between. She also said that my persistence makes for a good combination with my creativity, and that anything I set my mind on will be somewhat of a success. She said that I may not be the smartest guy in the room, but my enthusiasm, social skills and creative nature make up for it in bounds.
My sister is one of the smartest people I know. She told me that my creativity and persistence is key, so I will definitely take that to heart.
  1. Finally, I interviewed a good friend of mine. He said that we've been friends for so long because of my ability to be nice and always try to lighten up the mood. He said that I fit all the parts of a good friend, whether that being the class clown, or someone who wants to hear you and help you feel emotionally fulfilled. He said my spirit overall is just fun to be around.
My good friend has known me for so long, so it's helpful to see why we've been friends for so long. It also helps me understand how to keep making meaningful connections.

Analysis

When I think of what others think of me,  I usually think of my skills- whether that be my creativity, writing or speaking skills. However, after analyzing what my family and friends said, I have to admit that most people love and are attracted to me because of my personality. As a nice, funny and enthusiastic guy, I tend to be the center of attention and love to make people feel good. I always noticed that I did that, but I never thought people enjoyed and valued it as much as they do. If I could make corrections to my first list, I would move some items around, so people knew how valuable my enthusiasm and spirit is to have around, not just my skills.

15 A Buyer Behavior #2

Last Buyer Behavior assignment, I interviewed potential customers how they felt about buying at bulk grocery stores, in order to reduce waste and cost less money. There were open to the idea- but this week, I will tell them the alternatives and see what they choose. The four options I will be asking about are buying at a regular grocery store (Walmart, Publix), buying groceries online (through Amazon or Publix online), buying at a bulk food store, or buying bulk foods online.

1) I interviewed a girl in one of my classes (19), as she does her own grocery shopping. When given the options, she first chose regular grocery shopping, but also said she be open to buying bulk food at a store. When asked why, she told me two reasons. One, she knew exactly what she wanted, and where to get it a Publix. And two, she said the convenience of having a Publix so close to her makes her other options seem unreasonable (she doesn't want to go far). After, I told her why bulk food stores should make more sense- better for the environment and altogether, cheaper. She recognized these and liked them, but unless a bulk food store was close to her like Publix was, she wouldn't go 15 minutes out of her way to shop there. However, she did say when she thinks back on her purchases, she wishes she could be more eco-conscious and shop at somewhere like a bulk food store consistently.

2) I interviewed a passerby in Turlington that I thought fit my target audience (female, 22). I asked about the four options, and she told me she was passionate about the environment. She said even if a bulk food store was 10 minutes farther than a Publix, she would go there. She also said, however, that she would much rather have a bulk food store closer to where she lived than 10-15 minutes farther then her nearest regular grocery store. She then continued to talk about why she'd pick a bulk store- less costly and better for the environment- that causes her to frequent those stores.

3) Finally, I interviewed a girl I frequently work out with (21). I asked her what option she would choose. She said she usually does Publix, but if online was viable, she would take that route. I asked why, and she said it would save her a lot of time that she could be using studying. Then I asked, if there was an online option for regular stores and bulk stores, what would she choose? She told me that if bulk was cheaper, then definitely bulk. She would also be happy supporting the environment as well.

Analysis
Overall, I think I learned valuable information in this assessment. Bulk food stores seem like a perfect business to me, but after talking with some people, there is some alternative competition. To make a bulk food store that can outperform its competition (like Publix) is hard, but doable. First, you would have to find locations extremely close to people who would buy there, as convenience was number 1 in the issues I observed. You would also have to make sure to advertise cheap items, and finally create a definitive online way to buy that could outwork other online stores. Overall, if you could do these things, I think you would have a profitable bulk food store.

Monday, October 7, 2019

13 A Reading Reflection 1

For my reflection I read "Steve Jobs" by Walter Isaacson. I was surprised to learn so much about, debatably, one of the greatest and most influential entrepreneurs of our time.

1)

  • What surprised me the most about Steve Jobs was his ability to get things done. After looking at what he's accomplished, the list is so incredibly large that it makes you gasp. He founded his own company, which he started in his garage, and built it into an empire. Then he was kicked out of his company, went and helped found Pixar, another billion dollar company, which afterwards he went back to Apple and created even more innovative and groundbreaking products. 
  • I most admire Steve Job's creativity. He was such a free spirit, and the reason nowadays that Apple isn't thinking "as differently" then they were is because they lost their shining star. 
  • I least admire Steve Job's reluctance of family. He had a family but was so encapsulated with his projects that he spent little time with them. I personally feel like if I was an entrepreneur, family would have to be one of my most important aspects.
  • Steve Jobs encountered tons of adversity. He was born an orphan (didn't know his biological family), then he was an outcast at school, only interested in playing with computers. Later on he started a company with nothing (major adversity) only to later get kicked from it. He may be one of the most gritty people of all time.
2) Steve Jobs was lucky in that he had three main, awesome competencies that are essential for entrepreneurship. One was his ability to learn (things he was passionate about). He understood computers on a deep level, and when talking about them, knew exactly how they worked and was always learning about them. Second was his creativity, his ability to drive away from the norm and develop new things that he knew were groundbreaking. And third was his ability to lead and inspire. No way would he have so many people by his side if he didn't inspire them everyday with the mission of Apple- to provide products that think differently.

3) One part of the reading is the beginning, where for a good section Steve was not a good school kid. I always thought that this was one of his key skills, but I guess it also outlines the fact that Steve was too smart for school- gravitating more towards his passions then what the institution wanted him to do.

4) First question: There are so many more entrepreneurs nowadays that think they'll make "the next big thing". Why do you think you were so successful, and what life skills should young entrepreneurs learn to replicate it? (I want to be a big entrepreneur and I think this would answer a lot of questions for me)
Second question: What does "thinking differently" mean to you? And how can more people do it? 
(This was Apple's big thing, so I'd like to see how he'd react to this question)

5) I think hard work to Steve Jobs wasn't a time frame. I think it was a mission. Hard work was whatever amount of work it took to make his dreams a reality. I think if I could work as hard as Steve at anything I'm passionate about, I could make it happen.

Sunday, October 6, 2019

14 A Halfway Reflection

1) I think tenaciousness is a competency. Personally, I've always had a resilient nature, but after stepping into college and this class, you're definitely put to the test. I truly think that scheduling my time and working hard when you have the time are two key skills that need to be sharpened in college. By obtaining these behaviors, it's a lot easier to keep up with the coursework and not fall behind.

2) Especially for this class, a few weeks ago I forgot to turn in my assignments. It's a pretty terrible feeling, when you've worked hard on something and fumbled at the 1-yard line, metaphorically speaking. I did feel like giving up then. But everyone makes mistakes, because everyone is human. The difference in tenaciousness is whether or not you give up from then on. I could have given up, but instead, I made it a point to submit every assignment early from now on, and solved my past issue. It's all about making new solutions and learning from your mistakes quickly that adds to tenaciousness.

3)
First tip: build a good schedule. For this course, you need to know when assignments are due- don't wing it.

Second tip: start the assignments early. Sometimes the blogs take 30 minutes to an hour, but other times they can call for a lot of prior work that can take more than an hour. Make sure you know this so you're not surprised on the last day.

Third tip: push yourself. Make goals and strive for A's in all your classes. It will help you become a better and more tenacious person if you are setting goals for yourself.

Sunday, September 29, 2019

12A Figuring Out Buyer Behavior

1. If I were going to go and do an environmental packaging company (looking for a alternative to plastic), then I would try to focus on demographic segments in order to increase sales. I would have to tailor to a younger demographic (20-35) because more younger people are environmentally conscious. Furthermore, I would tailor, at least in the beginning, towards women, as they constitute 80% of the market. Finally, I think I would look for college students for my interviews, because they're in higher education and more likely to be up-to-date on how the Earth is doing.

2a. I interviewed a friend of mine who goes to UF- she's 21 and very aware about the environment. She told me a packaging company looking for green alternatives would be fantastic and compliment what she wants to achieve. She told me the trends for eco-concious living is increasing steadily right now, with more climate strikes and focus on our environmental crises happening everyday. She also told me that packaging is the hardest thing to control when looking towards our future, as it makes up almost half of plastic pollution, and if there was a solution, she would immediately sign up.

2b. I also interviewed an older TA at UF- she's about 24, going for her graduate degree. She told me she hasn't always looked for ecofriendly alternatives, but with more focus on the environment recently, she said she'd definitely be open to it. She said that social media has had a big impact on how she looks at the environment, and it truly has made her more worried for our future. She also stated that if I actually thought about doing a project like an environmentally friendly packaging, the social media route might be the best and most successful marketing plan I could take, due to how much focus for the environment is on there right now.

2c. Finally, I interviewed a girl from my hometown who attends USC- she's about 20. She told me that she liked my idea, but wasn't sure she'd go out of her way in order to purchase from me. More specifically, if she could buy on Amazon, and get the packaging for an extra price, she said she would easily do it. But she said she was not open to giving up such an important shopping site to use my products. Possibly pairing up with a bigger brand to offer my product might be a better way to get it done. She said when looking for environmentally conservation products, she talks to friends and family that know about what she's looking for.

Analysis:
Overall, the three interviews were very helpful. All 3 girls were in the same demographic- young, women college students who cared about our environment. And we could see that they needed an environmentally friendly packaging alternative. And even though they may have had three different perspectives on branching out, they all agreed there was a big need for this alternative.

Conclusions:
What I learned about in my interviews is that there is a need for environmentally friendly packaging. It's mostly in a young, women demographic (at the moment) that will hopefully branch out. The best way, right now, to kickstart this project would be marketing heavily on social media, and teaming up with brands to slowly incorporate our brand's packaging into their brand. Then, we could move up to bigger brands. The interviews were helpful in clearing up where to put our need-based focus.




11A Idea Napkin

1. I'm a business student passionate about building relationships with others, surfing and the environment, and having a general curiosity for the world. My talents include gab, resilience and an ability to learn. I also have a lot of experience in working for restaurants, and ecommerce (marketing through social media and influencers). Overall, in the future I want to use my resiliency and ability to learn to create many cash flows, hopefully through ecommerce. I want a work-hard play-hard lifestyle that allows me to get the most done with my day.

2. Online, what I'd want to offer people is a way to get packages to them with the least amount of waste possible. Other corporations, like Amazon or FedEx, package their goods and create large amounts of excess plastic thats terrible for our environment. My mission is to create a type of packaging that allows for little to no plastic packaging, which would cost less and really help the environment.

3. First, I would have to team up with eco-friendly brands in order to market my idea towards eco-friendly and sustainable customers. This is necessary because, if the packaging costs more money,  then I need to market it first to people who actually care for the Earth and are willing to put their money where their mouth is. But with enough capital, I'd get the packaging cheap enough so that it would be just as much money, if not less, than regular plastic packaging. Then, I could sell to Amazon and have my packaging distributed to everyone.

4. They would care for my solution for two reasons: one, it's extremely good for the environment. Over 141 million tons of plastic packaging is thrown out every year. To even slice this amount in half would help every single living being on Earth. Secondly, once enough research goes into it, I believe I can create a form of packaging, whether that be mushroom based, or a specific structure, to make a cheap alternative to plastic packaging. If I can make a product thats better for the Earth and your wallet, no doubt everyone will use it.

5. What would set us apart is the fact that we care about where the plastic goes. We're not like the other conglomerates that turn a head when talking about excess plastic production, and we are actively trying to make our Earth a better place. Simon Sinek says to define your why before the how or what, and our why is to save this Earth that we're smothering in plastic. Thats something everyone can get behind, especially nowadays.

Analysis
I truly believe that this exercise can help you craft a business. Every single one of these questions must be clearly defined, either on paper or in your head, before you truly start on the journey of creating your own business. And I feel especially for the sustainable, eco-friendly perspective, all of these elements definitely fit together. I mean, YOU don't have to be so in love with the environment to create something that helps it out. We all live here and have to make a difference. So why not try?

Wednesday, September 18, 2019

8A: Solution to Opportunity

The solution to a carbon tax would simply be making a biofuel, sustainable enough to save the Earth, but durable enough to work as good as regular gasoline. This is an extremely difficult task, but if it could be made, the rest is easy. If a carbon tax was implemented, mostly everyone would make the change over to biofuel, including big factories and vehicles, too. After that, we could spend more money refining the fuel in order to help the Earth as much as possible and lowering carbon emissions.

7A Opportunity Assessment

The opportunity I'll be pursuing is creating a biofuel in order to take advantage of rising/upcoming carbon taxes.

Who: Drivers or factory owners in the US
What: Unable to easily run their businesses/vehicles with gasoline if their is an upcoming carbon tax.
Why: They'll be taxed, and it's bad for the environment.

I believe this opportunity of biofuel is appealing to anybody owning a business or vehicle, as they would be able to lower their taxes and help the Earth at the same time.

Interviews:
1. The first person I talked to was a CEO that I know (50). He told me that biofuel would be extremely great for the factories where they create computer parts. It takes a lot of energy to get that much work done, so biofuels would save them a lot of money on the carbon tax alone, and the help to the Earth would be a plus as well.
2. Second person was a truck driver (who drives trucks for a living) (50). He said that they've been pushing for biofuels for a while, and have just started to move in the direction of natural gas. He believes that biofuel would be a good change as well, although it will probably take another year or two to even get natural gas as the mainstay. Meaning getting biofuel into every vehicle and factory may take up to 15 years to do.
3. Third person I talked to was my sister, (21) a marine biologist. She told me she thinks it's possible to create a lasting biofuel out of algae, but it wouldn't be easy. They're already doing research on it,  and will probably need hundreds of thousands of dollars to make the finished product. But the product would definitely be profitable, if done right, because it would allow people to dodge the carbon tax and help the Earth as well.
4. Fourth person I talked to was a friend of mine (25), an advocate for environmental policy. She told me that she would definitely get behind a biofuel conversion- she would even strike, protest and spread news about it if possible. Organic traffic is a big thing in the environmental field, of getting these products to a national level of understanding.
5. Fifth person was a friend of mine, who drives a Camaro (19). He told me he probably wouldn't use the product, even if their was a carbon tax, as he believed you would have a car that ran much better with regular gas. He thinks biofuel would cause disturbances in the car that would cost more to fix than the actual tax itself.

Summary:
I believe it's important to see how others view your product. And although there is almost an universal understanding that biofuel would be better for everyone, getting everyone on the same page is difficult. Some want it for an eco friendly reason, others for a money reason, and some for both or none at all. Now I know how my product might be viewed by the public, and will take this information into consideration if I continued on this problem.

6A More Opportunity Identification


1. More Online Schools 
https://www.thebalance.com/us-economic-outlook-3305669

Coming up, more jobs will be created these upcoming years (20.5 million between 2010 and 2020), with 88% of all jobs experiencing growth. However, it's important to note that "jobs requiring a master's degree will grow the fastest, while those that only need a high school diploma will grow the slowest." So, we must think about the growth of online college. College prices are out of this world, and the accessibility to the internet will definitely see a growth in online colleges. I think I see this opportunity because this has been happening, and I was attentive with a solution to the trends.

2. Biofuel
https://www.thebalance.com/us-economic-outlook-3305669

Due to climate change, the Government is looking to put a carbon tax on dangerous greenhouse gas emissions. The green route is the way, and that means I bet biofuel will not only be popular, but subsidized by the Government. It's the best time to create this, because if you do, you own the next 50 years. I believe I see this opportunity because I have knowledge of eco friendly issues and can see the way it's heading.

3. More Crypto Currency Trading
https://ext-marketing.com/marketing-articles/u-s-regulatory-trends-2019-and-beyond/

Crypto Currency got a lot of attention in the last 5 years due to its boom and skyrocketing exchange rates. However, the SEC will not allowed it to be traded publicly on the Stock Exchange. But they could change their mind in 2019, which is something to be looking at. If they do, it's best to buy early, as they increase dramatically in price right out the gate. I see this opportunity because me and a friend in high school used to study bitcoin for fun.

4. Fiduciary with Best Interest
 https://ext-marketing.com/marketing-articles/u-s-regulatory-trends-2019-and-beyond/

Fiduciaries are people that take your money and look over your assets for a fee. However, they do not always show results, making them a waste of money. The Department of Labor's Fiduciary Rule was a proposed rule that made sure fiduciaries acted in the customer's best interest, trying to make them the most money, not experiment with it. However, this proposal has been shut down. I think someone should make a trustworthy fiduciary focused on the best interest on the customer, to make both them and the fiduciary the most money. I know about this because I read a book on fiduciaries (96% of market managers do worse than index funds) and know they could do better.

Tuesday, September 10, 2019

Identifying Local Opportunities


1. "Marriott Banning Little Shampoo Bottles By 2020"
https://www.tampabay.com/news/business/2019/08/28/marriott-banning-little-shampoo-bottles-by-2020/

This story is essentially how Marriott has made a mission to phase out all small shampoo bottles by 2020. They're the worlds largest hotel chain, with 7,000 venues in more than 131 countries. They've been trying to get rid of them for years, but now the President feels as though they can appropriately get the job done now. The problem in this is that they'll need a new supplier of bio-degradable packaging quite soon, which is a business that will be booming in the oncoming years, with most corporations being urged to switch. I believe starting a business that creates bio-degradable packaging would be extremely beneficial to the environment and bigger corporations like Marriott.

2. "Walmart to Stop Selling Handgun Ammunition"
https://www.tampabay.com/news/business/2019/09/03/walmart-to-stop-selling-handgun-ammunition/

This story is about how Walmart has made the decision to stop selling short-barrel and handgun ammunition after the shootings last month, one of which happening inside a Walmart store. The problem here is that, although this may help people with mental illnesses, many hunters in rural areas depend on Walmart for their ammunition. This means that they'll either have to look for ways online to get it, or not go hunting at all. I think Walmart should look for a better way to resolve this problem. One way would be allowing Walmart to have free mental health checks, which would help make sure the buyers of their ammunition are mentally secure, and they wouldn't lose any more customers.

3. "Home Sales and Prices Jump In Parts of Tampa Bay"
https://www.tampabay.com/news/business/2019/08/21/homes-sales-and-prices-jump-in-parts-of-tampa-bay/

This story is about how many places in West Florida are finding an increase in house prices and sales. In Hernando, sales have increased 17%, and in Pasco, prices have risen 10.2%. Although there were talks of a recession, this seemed to have zero impact on the market. The problem here is how realtors were going to sell these houses, that were increasing in price, during the threat of a recession. One way to solve this would be offering larger payment plans or less money down to begin with, in order to hook customers before a possible recession hit.

4. "Climate Change is Turning Florida's Sea Turtles Female. How Long Can These Species Survive?"
https://www.tampabay.com/business/climate-change-is-turning-floridas-sea-turtles-female-how-long-can-these-species-survive-20190812/

This story is about turtles and their female transitions. Turtle gender is determined by heat, so if it gets too hot, then the gender for all turtles will be female. Climate change is causing this change. The problem that the government will end up dealing with is how to keep some of these turtles male during this heat change. One way would be setting up covers over turtle nests to lower the temperature. I'm sure starting a turtle-nest-covering business would be sponsored by the government and make a lot of money.

5. "Dorian Didn't Come To Tampa Bay... So Where Are My Amazon Orders?"
https://www.tampabay.com/news/business/2019/09/04/dorian-didnt-come-to-tampa-bay-so-where-are-my-amazon-orders/

This story is about how, because of Hurricane Dorian, people weren't getting their Amazon orders (even though the hurricane missed the majority of Florida). This was also because most Amazon Flex drivers were not online, most evacuating, meaning a mass of packages not getting delivered. Amazon could solve this problem by providing incentive to get back on the road as quickly as possible for these drivers. Or adding zones that pay more (where more people haven't received packages).

Opportunity Belief

1. I truly believe that there is an opportunity in our world right now for more bulk food stores.

2. With the rising concern for our environment, more and more people want to get involved and know that their purchases are helping some bigger cause. Bulk food stores are where people can see that difference- by witnessing their waste reduction, it's not only good for their wallet (bulk food can cost up to 89% less than packaged foods), but also for the Earth around them. The need would come mostly from younger generations, 20-40 year olds who would like to make a difference. Right now, people are trying to change this issue- by speaking up on social media and protesting for better environmental policy. But bulk food stores are a tangible change that surely make people feel much better and more green than previously stated methods.

1ST CUSTOMER

3. This prototypical customer is someone younger, in their 20-40's, who cares deeply about the Earth, enough so to showcase it through their wallet. Luckily, this target audience is growing increasingly fast nowadays, with the pressure of climate change and every other environmental catastrophe on the cusp of beginning. Younger people are looking for a place to help out and see the fruits of their labor- bulk food stores are the answer.

4. I talked to my sister, who quite easily falls into this category. And I questioned her if she would shop at a bulk food store. She told me she knew there are some drawbacks to bulk food stores- bringing your own container, less convenience, but overall she gave an enthusiastic yes to the idea. Of course, I had to ask what swayed her thinking. She told me that the large scale impact that bulk food stores can have in positively changing the Earth is enough for her to switch over and lose a little convenience on her side. After this, I asked her what first drove her to change to bulk food stores. She stated it was after the news started to showcase how our consumption patterns are killing our Earth. She found it hard to keep on the sidelines and feel powerless when such big things were happening- here she said this was why people like her looked for opportunities like the one's I was showcasing.

2ND CUSTOMER

3. This prototypical customer is a mother, about 35-50, who has her own kids and may be taking the environment a little more seriously now that she's older. Plus, mothers do a lot of shopping in the family, so it makes sense to be targeting to them. As these adults come into a parenting position, they come to realize the damage their doing to the environment and how they're leaving the Earth for their kid. That's why they're good to target.

4. I talked to a mother I know who shops at bulk food stores. She states she does it for two reasons. The bulk food store provides her with easier ways to get what you need without need for serving size (ex. she can get 1 and 1/2 pounds of beans instead of just 1 or 2). Plus, she feels as though it helps her make a difference for her kid. She acknowledges that she can't change everything, but she changes what she can in her life, and what she can change is where she shops. I asked her why she feels she needs to make this change, and she told me she imagines that the world will be unlivable for her kids if they continue on the path that they're on, and she has to make a change now in order to help out. This made sense and is definitely something marketable.

3RD CUSTOMER

3. This prototypical customer is one specifically focused on savings, about 20-40 years old. They don't care too much about the environment, or perhaps it's not their first priority. Instead, they'll come to bulk food shops because they know the savings are much more apparent, and they can get the exact amount they need for a lower price.

4. I talked to a friend who's really into savings and shops bulk. First, I wanted to know why she needed these savings. She put it simply as if she can find ways to lessen her spending grocery shopping, than that money can go somewhere that she cares more deeply about. I thought that was a good point. She told me as well that she shops at places like Aldi and Costco for savings, but for her bulk necessities, like rice, beans or vegetables, these bulk food stores were a necessity. I also asked her if the downsides bothered her. She said no- for example, bringing her own packaging and jars to these places didn't bother her, as long as she was still saving money. This customer is also essential and making a bulk food store run properly.

REFLECT

All 3 customers were interesting to talk to, because of their varied situations and how they would approach the opportunity. For example, the 20-something who shops bulk for the environment is much different than the 35-year-old male who shops to save. However, they're both shopping bulk for their own reasons, and this in turn creates a business that is profitable in all aspects. I was surprised that, although some customers cared more deeply than others, how all were worried about our environment. Even the savings customer, who wasn't there primarily, still highlighted the impact her shopping had on the environment, and showcased that anyone who shops bulk has a secondary reason to do it. The evidence by these customers still makes me feel as though bulk food stores are a viable opportunity and are only growing in size and popularity.

SUMMARY

A lot of my original opportunity is still here. At the beginning, I stated that starting more bulk food stores would ultimately be a good form of cash flow in the long run. I still believe this, even after talking to a few customers. But of course, I think the opportunity has changed from the beginning. I think possibly marketing bulk food stores to specific audiences would be much more effective than trying to compete with food titans like Publix or Costco. And I do think that adaptation is a huge part of entrepreneurship- there are always curveballs when starting a business, and you can either roll with the punches or give up. I believe after talking to prototypical customers, I've seen some curveballs in the industry, but I wouldn't give up on the idea and ambition to take hold of the opportunity.

Wednesday, September 4, 2019

My Entrepreneurship Story

Image result for boathouse restaurant lbiMy father and mother are the reason I've become so interested in entrepreneurship. My dad started as an electrical engineer, doing sales at a company called Xilinx. He loved it, but as he moved up the corporate ladder, he realized that he didn't want to raise his kids from afar, always traveling and putting the company first. So, instead, my parents sat down and took a good look at the lifestyle they dreamed of. They decided to open a seasonal restaurant on the Jersey Shore, allowing them to work hard for 6 months of the year, and fish in Florida during the winter. My mom would do more of the day-to-day floor work, and my dad would focus on growth and other bigger issues. This pairing worked great, and 25 years later, they sold the restaurant, and still had a profitable catering company on the side. They're my inspiration when it comes to hard work and lifestyle design. Entrepreneurship is an extremely difficult path, but with the right amount of planning and dedication, it can be extremely profitable, rewarding and give you the lifestyle you choose to have.
Image result for boathouse restaurant lbi

I took ENT3003 because I personally want to increase my entrepreneurial skills. This summer was my first real introduction to entrepreneurship. I started my first business this summer, an online drop-shipping store called Erasing Waste. Since then we've cultivated hundreds in sales and over 5,000 Instagram followers. I want to learn more about starting all types of business, and would love to learn all about it through this course.

Thursday, August 29, 2019

Bug List Nick Baldino

Bug List

  1. Weird coffee menus at Starbucks (Why: to make it seem more authentic I guess)
  2. Straws everywhere (Why: Convenience)
  3. When people post stuff about a bigger issue on their social media. That doesn't solve anything (Why: awareness I guess)
  4. When you get a product and it's super hard to set up, like furniture (Why: laziness I think)
  5. People at fast food chains that try to hide that they're bad for you like saying their 100% natural or what not. It's probably not good for you so why hide it. (Why: larger audience)
  6. When you open a bag of chips and theirs like 6 chips in the bag. (Why: to keep the chips from getting crushed)
  7. Cleaning a pan after cooking something really easy like eggs. They should just have a way to wipe a pan clean without anything sticking. (Why: convenience)
  8. Measuring cups are dumb because why can't you just use one cup? Like you don't have to use 4. (Why: to better measure I guess)
  9. I hate when people cover fruit in the grocery store with plastic. Thats why the have a skin. (Why: I got not clue freshness??)
  10. I dislike museum tours, they're pretty boring. They should make museum tours but have like funny characters voice them. (Why: boring)
  11. I hate when people eat with bad manners. There should be a way to make them stop. (Why: bad manners)
  12. I hate when the gym is packed. There should be a more efficient system of getting people in and out. (Why: bad system)
  13. I hate getting take out and wasting all that stuff. Like the styrofoam and all that. (Why: convenience)
  14. They should make biodegradable baby wipes/ wet wipes. They clog drains and stay forever in landfills (Why: cheaper)
  15. Bright synthetic light. Natural light is much better. Keeps your eyes healthier. (Why: cheaper)
  16. When my towel is still wet when I put it on a hook. There should be quicker drying towels. (Why: convenience)
  17. I dislike when companies don't have a backbone. I think it'd be nice to have a brand that takes a stand when things go wrong for them. (Why: fear)
  18. Pencil sharpeners. Why they gotta be loud. Make them silent. (Why: probably cheaper)
  19. I hate when people walk really slow. There should be lanes on sidewalks (Why: Idk different paces)
  20. Water bottles. Everyone should just have a cheap renewable way to fill up water. (Why: cheaper to produce)

I thought this was pretty difficult. It's hard to think of things to bug you, but when you walk around day-to-day, it feels as though everyone is complaining about what they can change. You don't think entrepreneur-like until you have to, but I'm hoping to keep thinking creatively like this and look at the world in a different light.