Final Reflection

1. Looking at all my posts this past semester, it's hard to believe my freshman year has come to an end. Starting out in January creating a base platform and idea for the rest of the semester I had no idea what I was getting myself into. Now looking at my first elevator pitch, It's hard to believe that was still me. Without knowing it, I have improved so much with being able to present myself in front of others. In addition by the time I got to customers interviews round #3, I was a pro at approaching people and asking them their basic thoughts on my ideas. However, the journey was not always easy. From having to track down random entrepreneurs for a quick 2-minute interview to having to track down domain and market experts was definitely an experience I'm glad I do not have to repeat. Overall from this course, I have been able to definitely grow an idea and develop as an entrepreneur. With the help of this class, I can now say that I AM AN ENTREPRENEUR.

2.For me, my most formative expereience was Venture Concept #1. With this activity, I was really able to showcase my idea and really see the magnitute of what I had created come together for the first time. This activity gave me a great outline and base to actually make my idea a reality. Because of this activity, I can go back any time and forever see the full extent of my idea. Even though it was long and a lot of information, It was my most joyous experience and my most proud.

3. Through this class, i have acquired the entreprenurship mindset. Through these activites, I'm more likely to take risk and try something new. I will now question the norm and try to innovate to create something better. I will no longer stand as a background to the developing world around me. Instead, I will choose to be a forerunner and innovater to make my imapct and leave my legacy.

4. The key to sucuess in this class is forming a schedule and branching out from yourself. By developing a sense of confidence, anyone can sucueed in thois course. To foster the mindset of an entreprenuer, be sure to think outside the box. Choose something you are passionate about! Don't just go through the motions in this class. If you put in the effort, at the end you will have an idea that you can be proud of that can actually be put in place and invested in.

Week 15 Reading Reflection

1. One of the fascinating things I learned from this reading was the idea of microfinance. Before reading this, I did not have any idea of what microfinance even is. It's incredible how this is able to change the lives and impact so many people by providing such small loans and such great amenities. Even though the returns rates are slow and low, I find it amazing how this company is able to thrive off of sheer numbers alone and is able to survive with such a high repayment rate.
2. The most confusing part is how this company was able to grow so rapidly when investors heard the fact of repayments of as low as $1 per week.
3. How were you able to seduce investors initially and encourage them to contribute to your company? How profitable is microfinance and how successful is it at helping its customers escape poverty on average?
4. I did not disagree with anything. I really enjoyed this story about microfinance and this amazing company.

Venture Concept No.2

Opportunity, Innovation, and Venture Concept:

Hi, my name is Justin Schlakman and I'm offering a solution to having to sprint across campus to make it somewhere on time. My program consists of installing bike docking stations all across campus and replacing the normal clutter of dormant bikes racks.  UF bikes would be available 24/7 365 days per year, and would allow service at a quick swipe and touch of a button.  Rather than students having to rent a bike for a whole semester, to hardly ever use it, UFBIKE would give every student the opportunity to use a bike whenever most convenient for them, at a low trip, or semester price. On campus, bikes would be available at every docking station in which they can then be returned to any docking location.  For students, who already have a bike and do not live on campus, additional docking spaces will be available for regular bikes, so students would no longer have to bother with normal bike rack and locks.

 In addition, I would like to introduce an app in which students would be able to log on to view a record of their bike history that would allow them to report maintenance problems with their bike. The app will also allow students to avoid the kiosk line by allowing you to directly sign up for a bike through the app. The app will also provide a feature that allows users to view which biking stations have available bikes.

To address the problem of bike theft, bikes responsibility would be primarily up to the user in which they must ensure that the bike is properly docked/locked up, like any other bike. A potential solution could be a tracker to find bikes after they are reported stolen. Because bikes are not traveling large distances, mileage is not too much of an issue and would not create many maintenance problems. In order to maintain all bikes, we can expand the bike center here on campus and partner with them and their department and allow students a chance at work. 

            The UF student population is similar to other schools in the fact that we are just a group of students trying to learn and get an education. In other words, we are all just a group of normal young adults striving to do something better with our lives. With the daily struggles of everyday student life, there are plenty of times when students run late or need a better method other than walking or taking a bus to get from point A to B on campus. The current bike system is practically non-existent, and the bikes that UF has for rental are sub-par. In addition, UF doesn’t have any opportunity for the student to use a bike on demand for even just recreational use. Out of these primary factors, my opportunity has manifested itself.

            My market demographics include not are not limited to the following groups: faculty, staff, students, and visitors. In addition, my market includes people of all ages who know how to ride a bike or wish to learn how to ride a bike. My market additionally includes people who currently own a bike and do not have access to a bike. However, the primary target for this program will be new students who are going to be living on campus and do not want to buy or bring a bike from home to school. If new students no longer have to buy bikes as freshman, they would no longer have to maintain it for the next few years and UFBIKE’s would eventually see a steady increase in use.

            Customers currently satisfied their need for travel by either walking, riding a bike, or taking a bus, and driving. Generally, people use the most convenient method of transportation available to them, so I want to integrate my system so that it's readily easy and convenient for those traveling on or through campus. This opportunity has the potential to be quite large, in that I would want to incorporate it throughout the entirety of the UF campus centralizing in the more populated regions but spreading out to the outskirts as well. This window of opportunity has the potential to last for many years as long as bikes are maintained and updated as needed to accommodate student’s needs. Because I want to focus my market by targeting new students who don’t have a set method of transportation yet, I do not think it will be hard for students to switch to this new method.

            Now you may be wondering how much my idea will cost and how the bikes would be made. Here is a brief description of how I envision the bikes to be made from a Wikipedia article from a similar idea currently in place in NYC: “The bicycles are utility bicycles with a unisex step-through frame. Their one-piece aluminum frame and handlebars conceal cables and fasteners in an effort to protect them from vandalism and bad weather. They are equipped with a Shimano Nexus three-speed, twist-shifter-operated internal geared hub, full mudguards/fenders and chain guard. The heavy-duty tires are puncture-resistant and filled with nitrogen to maintain proper inflation pressure longer. Twin LED rear lights of the pre-2015 design are integrated into the frame.” Because many bikes need to be produced, I imagine the startup cost would be a few million dollars. Semester bike passes will cost around $40 and individual trip prices will be based on time used or even by miles road.

            To increase my market base and create opportunities for additional revenue my new innovation includes creating a partnership with Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers via the Fitbit Surge. Depending on the features that students desire these can range from $100-250, and are not limited to cyclist users.

            Since at its core, UFBIKE is just another transportation service it deals with a lot of competitors such as SNAP, Busses, Cars, Scooters, and all working pair of legs. However, both buses and SNAP take forever at times, and not everyone can afford access to cars and scooters.  In addition, the role of packing, price points, distribution, customer support, etc. is very important in my business concept because without these guidelines to maintain, my product will not be used or readily available. Lastly, I would organize my business by utilizing sponsorship and branding to make my idea reality. Working with other companies that have already made this system possible will provide me a base and a resource to ensure success in my venture. To get the staff we need, we can prioritize on giving students an opportunity to work on our maintenance team. The primary roles include maintenance, distribution, and customer service. By partnering with other companies, I'm hoping that the university could reduce the startup cost and have student government use their funds to supply the rest of the budget needed to cover the expenses.

Three minor elements:

1.  One of my top strengths is communication. I love surrounding myself with people and I have no trouble presenting myself in front of large groups or audiences. I'm good at presenting and just being myself even when I'm surrounded by strangers. Using this strength of mine I’ll be able to actively work with other companies and the different branches of the school to make this opportunity possible.

2.    2.   My next venture markets my idea as a fitness product. Please see above in the innovation section.

3.     3.  With this product, I want to leave my legacy here at the University of Florida. I want to be able to see students going to class and traveling throughout campus on my bikes. In addition, I want to see the current disaster of the normal bike racks solved. For the next 10 years and as an Entrepreneur, I could see myself working alongside some of these other companies who sponsored my idea and continue to implement this system in big cities across the world. This opportunity will have given me the experience needed to do just that.

As a whole from ever

Feedback/how I've developed my idea: 

Overall, my idea has become widely accepted by so many students. The general consensus is that people really like my idea, and it would have a future here at the University of Florida. Because I have already addressed on all negative feedback throughout the semester, I have graciously only been left with positive feedback. To counter some of the things I have had to change to my idea were providing an app, setting up a cost system, expanding the maintenance department here at UF, and working towards new products to endorse my product as more than a transportation device. Overall for my product to be most effective, I have to deal with the current market of students who already have bikes. To counter this, I would like to get freshman signed up at Preview in order to prevent this market from existing in the first place. With this, students would no longer have to buy bikes before coming to school. After a few years and a reduction of the amount of people who already own bikes, my idea will begin to thrive completely. 

Week 14 Reading Reflection

1. The most interesting thing I read about was intrapreneurship. I had no idea that concept even existed. Rather than just having one worker creating ways to improve, and instead having all employees are board, can help create a more productive and more successful company.
2. Like in a lot of the chapters, I have a hard time following the different charts and graphs that the author uses. I feel as though if set up or explained better they would be a lot better of a resource.
3. How should companies reward employees for their innovations? In what areas of a business are ethics most important?
4. I did not disagree with what the author wrote in these chapters, and agreed with everything they said.

Google Gold

1. Overall this semester, I was not aiming to get my blog out there to as many people as possible. Instead, I used it as a medium for myself to learn and grow my own ideas. The main way I have been spreading my ideas and thoughts, has been by sharing my blog with others, either by linking my post or by commenting on other students blogs. As far as the content goes within my blog, I generally kept a similar writing style and made sure to fully complete each assignment with as much detail as needed.

2. My primary keyword I used derived from the name of my new business adventure called UFBIKE. With the help of NYC's Citibike, I thought of our own transportation system that could be used here, thus, UFBIKE was born. Because I stuck with the same idea throughout the entire semester, I did not change my keyword.

3. I did not capitalize on social media much throughout the semester. I did not want to connect my school life with my social life through the means of social media, so i decided to refrain from sharing my blogs on things such as google plus, facebook etc. Because it was school related, I do not think it would have been receptive by the public.

4. My most viral post was my "Celebrating Failure" post. I think this was my most viral post, because it was the most relatable to my audience. Not only have I failed at least once in my lifetime, everyone else has too. Because of this, we often seek out others and their own stories to see that we are not alone and that failure is normal and a part of life.

5. From my keyword UFBIKE, I did not make it to the first page of google results; however, I did make it to the 3rd page! However, from my blog name, the daily schlak, I made it to the very first result.

Very Short Interview, Part 2

For this assignment, I interviewed Laurie again. After working with DECA Inc. for many years, Laurie decided to use her knowledge and begin being an entrepreneur and decided to start helping the brand and students involved within the organization. In order to help students, Laurie decided to start publishing work for DECA including guides, workbooks, and other supplements to help students have a better understanding and guide when competing. Looking back on our initial interview now, I trust her opinion very much. Her ideals and concept of entrepreneurship have very similarly aligned with this course and the models that we learn about. For this second follow-up interview, I asked her the following questions:

1. How has being an entrepreneur affected your life?

Being an entreprenuer has affected me in several different ways. Being an entreprenuer has made me a seeker of opportunity. In addition, being an enterpreneur has made me very detailed oreiented and has allowed me to grow in all aspects of management.

2. Has being an entrepreneur caused you to be more or less risk adverse?

Being a an enterpreneur has caused me to be less risk adverse. Part of being an entrepreneur is failing. In order to fail, you also have to take risk; however, as long as you are taking the right measurements before hand and doing the proper research, the risk should pay off. 

3. What are three skills that help contribute to being a good entreprenuer?

To be a good entrepreneur you have to approachable and a good leader. An entrepreneur deals with a lot of different people and has to work closely with them. In addition, an entrepreneur needs to be able to manage many things at once and be patient with his or her own ideas. 

After learning so much about how to interact with people, I feel as though I have really grown a lot through this course. Because of this course, I know have the confidence to go up and talk to strangers, unlike before. Because me and my entrepreneur have remained close, she has been able to seen my grow as a result of this class, and she is really proud of how confident I have become when interacting with new people for the first time. 

Celebrating failure

When coming here to UF as a freshman, one of my biggest goals was to get involved. Being in the business school, one of the primary programs you here about is the Florida Leadership Academy and how great of an opportunity it is to be apart of it. After learning more about the program, I made it my primary goal to get into this top program.  After already becoming involved in so many different programs, I was extremely confident that I had a chance to be apart of such an amazing group of people. After applying and receiving an interview, I even participated in several mock interviews. All in all, after getting so far and working so hard to get to that point, I was not invited to join the new class. From this experience, I learned to not be so closed-minded and be more proud of the things I've  done in my life up to this point. Because I was so focused on getting one thing, I forgot about everything i should of been proud of in my other involvement. If anything the experience showed me that one person or one organization is one failure is not going to change or define my future. People always see failure as a bad thing; however, it's not bad at all. Failure is necessary for people to become great. In addition, failure also brings out the best and worst in people and allows them to learn from it and shape who they are as a person. Because I'm have a happy go lucky type of personality, I generally handle failure fairly well. I don't let it stop me, and I'm always trying to think on the bright side and the happier things in life. As mentioned, it's not the end of the world. I'm still going to live life to its fullest and enjoy being happy. For this class, failure is almost inevitable either with your ideas or being shut down while trying to get an interview. In this sense, failure has been a great learning opportunity for all of us to keep trying and never stop believing in ourselves, our dreams, our hopes, or our futures. Because of this, I would say I'm more likely to take a risk. 

Week 13 Reading Reflection

1. One thing that surprised me was all the factors that going into buying a business. There are so many questions that need to be answered before you can properly analyze the business and the potential value and growth capabilities the business has.
2. I was slightly confused with the different valuation methods. I understand the main premise of each, but I'm not sure when one would be better than the other and how you actually gather the information to use them.
3. For which kinds of companies would you use each valuation technique? Why would a company ever use a non-binding agreement?
4. I did not disagree with the author in this chapter.

My Exit Strategy

Overall, I intend to stay with my business for several decades and then retire for quite a few reasons. My idea consists of installing bike docking stations all across campus in which bikes can be rented and returned at any docking location. Because of the nature of this project, it would take a couple of years alone to get this project implemented and expanded to stretch across all campus. In addition, It would take a few years after this system was initiated before it became in full use. Because many students already own bikes or have their rigid routines to get around on campus, my product would have to target incoming freshman and focus on developing them as my consumer base, so, it would take a few years before I can also include my new market. With this system, it is going to be expensive to implement, so it will need to be constantly maintained to remain in good working condition. This idea has made me seek to expand my maintenance team and using direct customer reports to make the necessary repairs. In addition, it has made me focus on bikes that can remain durable with a high mileage count and withstand the extreme Floridian weather. In general, this idea stems from my own experiences on campus when I need to get home after the buses have stopped running and am forced to walk home. 

What's Next

Existing Market: The existing market I'm trying to capture includes Students who do not own or do not have access to a bike.

Step 1: Current Idea: Currently I'm offering students a new way of transportation, in which students can rent a bike from one station and return the bike to any other station.
Here is what I want to do next: The next product I'm offering is an attempt to expand my customer base by marketing my product as a fitness device. The next item I'm offering stems from a partnership and sponsor that's similar to a Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers.

Step 2: Here is what customers thought of instead of my idea or what I might add or change instead to possible incorporate new students into market who already have met their needs:

Step 3: 
In my first interview, Audrey wanted me to focus on more on the market to see what level my demand actually is from people who do not have access to a bike. Like her, Audrey doesn't have a bike and she just does not want to bike and would rather walk. Instead, Audrey would rather have a more focused projection on the numbers of actual potential customers. In my next interview, Ben, there was also not much more I could offer him because he simply prefers walking and just does not want to bike around campus. However, in my third interview, Brandon said I should capture more young students by starting off by selling semester passes at preview when parents and young students are eager to buy new things that might be beneficial for them. 
For the future, a good point was mentioned here. I need to remain marketable and capture which customers I actually have a chance of getting to use my product. First, I need to focus on this group, before I can try to outreach my program to students who might not have initially used this program. I think having a good marketing platform of potential uses for my product can help encourage more students to participate.


New Market: 

Step 1: Students who already own or have access to a bike in which I'm trying to get them to ditch their own bike and use my service.

Step 2:
A lot of people are routine and enjoy the normal schedules that they have. Because of this, it can often be hard to get people to change what they are doing for something else. In this circumstance, the best way to capture this audience was to market the other ways that this product could be used, such as a fitness or recreational product that you can do with your friends. Also with my idea, these students would not have had to buy a bike in the first place. Here are the ideas of what they proposed rather than my Fitbit idea to possibly get them into my market.

Step 3: In my first interview, Olivia talked about incorporating a sign-up program for the beginning Fall of each year by adding a booth at preview to sign students up early when parents are eager to throw money at different opportunities. This way, it can help contribute to start-up and maintenance for each new year. In my second interview, Jeremy talked about adding a few double bikes where friends can ride and bike together for recreational purposes. In this way, we are also continuing to build on the community standard that we create here at UF.  Lastly in my third interview, Malik thought of an idea about adding a point reward system to encourage people to ride more miles, in which points can then be traded in for things such as food or discounts.

I learned that people don't always like change, so breaking into this new market might be a little hard. I may just have to wait till this market fizzles out a few years after my program was initiated. With my idea, I'm trying to get rid of this market in its entirety by stopping consumers from purchasing bikes or bringing their own bikes from home. Once students who want a bike but do not have access to a bike are ready to use a bike, they will then be able to use UFBIKE's and my program will see an increase in sales and use.  In my existing market, I expected more people to want to use a bike to save time, however, it seems not everyone agrees with that. 

This new market has lots of potential to become a part of my existing market. If my idea was implemented, students would be able to get rid of their bikes and sell them. With this, students would no longer have to maintain their bikes or worry about them getting stolen.

Week 12 Reading Reflection

1. In this chapter, I really enjoyed how the model of business planning was broken down and which components need to be addressed for successful expansion, to combat competition, or when there may be a lack of experience/knowledge at hand.
2. I found Category 1 planning: no written plan to be a little confusing. If a business was trying to plan ahead for the future, it doesn't make any sense why they wouldn't write any of it down to try to figure it all out on paper rather than in your own head. It makes sense that firms with better planning tend to do better in their respective industries.
3. What are some of the ways we can get the data/measure the market so that we are able to have enough information to plan effectively? To be an adaptive and innovative firm, how can a firm continue to grow and grow and expand their ideas when they hit a potential "writers block" and no longer have any good new ideas?
4. Nothing in this chapter was confusing! I liked all the topics covered in this chapter.

Venture Concept No. 1

Opportunity, Innovation, and Venture Concept:

Hi, my name is Justin Schlakman and I'm offering a solution to having to sprint across campus to make it somewhere on time. My program consists of installing bike docking stations all across campus and replacing the normal clutter of dormant bikes racks.  UF bikes would be available 24/7 365 days per year, and would allow service at a quick swipe and touch of a button.  Rather than students having to rent a bike for a whole semester, to hardly ever use it, UFBIKE would give every student the opportunity to use a bike whenever most convenient for them, at a low trip, or semester price. On campus, bikes would be available at every docking station in which they can then be returned to any docking location.  For students, who already have a bike and do not live on campus, additional docking spaces will be available for regular bikes, so students would no longer have to bother with normal bike rack and locks.

 In addition, I would like to introduce an app in which students would be able to log on to view a record of their bike history that would allow them to report maintenance problems with their bike. The app will also allow students to avoid the kiosk line by allowing you to directly sign up for a bike through the app. The app will also provide a feature that allows users to view which biking stations have available bikes.

To address the problem of bike theft, bikes responsibility would be primarily up to the user in which they must ensure that the bike is properly docked/locked up, like any other bike. A potential solution could be a tracker to find bikes after they are reported stolen. Because bikes are not traveling large distances, mileage is not too much of an issue and would not create many maintenance problems. In order to maintain all bikes, we can expand the bike center here on campus and partner with them and their department and allow students a chance at work. 

            The UF student population is similar to other schools in the fact that we are just a group of students trying to learn and get an education. In other words, we are all just a group of normal young adults striving to do something better with our lives. With the daily struggles of everyday student life, there are plenty of times when students run late, or need a better method other than walking or taking a bus to get from point A to B on campus. The current bike system is practically non-existent, and the bikes that UF has for rental are sub-par. In addition, UF doesn’t have any opportunity for student to use a bike on demand for even just recreational use. Out of these primary factors my opportunity has manifested itself.

            My market demographics include not are not limited to the following groups: faculty, staff, students, and visitors. In addition, my market includes people of all ages who know how to ride a bike or wish to learn how to ride a bike. My market additionally includes people who currently own a bike and do not have access to a bike. However, the primary target for this program will be new students who are going to be living on campus and do not want to buy or bring a bike from home to school. If new students no longer have to buy bikes as freshman, they would no longer have to maintain it for the next few years and UFBIKE’s would eventually see a steady increase in use.

            Customers currently satisfied their need for travel by either walking, riding a bike, or taking a bus, and driving. Generally, people use the most convenient method of transportation available to them, so I want to integrate my system so that its readily easy and convenient for those traveling on or through campus. This opportunity has the potential to be quite large, in that I would want to incorporate it throughout the entirety of the UF campus centralizing in the more populated regions but spreading out to the outskirts as well. This window of opportunity has the potential to last for many years as long as bikes are maintained and updated as needed to accommodate student’s needs. Because I want to focus my market by targeting new students who don’t have a set method of transportation yet, I do not think it will be hard for students to switch to this new method.

            Now you may be wondering how much my idea will cost and how the bikes would be made. Here is a brief description of how I envision the bikes to be made from a Wikipedia article from a similar idea currently in place in NYC: “The bicycles are utility bicycles with a unisex step-through frame. Their one-piece aluminum frame and handlebars conceal cables and fasteners in an effort to protect them from vandalism and bad weather. They are equipped with a Shimano Nexus three-speed, twist-shifter-operated internal geared hub, full mudguards/fenders and chain guard. The heavy-duty tires are puncture-resistant and filled with nitrogen to maintain proper inflation pressure longer. Twin LED rear lights of the pre-2015 design are integrated into the frame.” Because many bikes need to be produced, I imagine the startup cost would be a few million dollars. Semester bike passes will cost around $40 and individual trip prices will be based off of time used.

            To increase my market base and create opportunities for additional revenue my new innovation includes creating a partnership with Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers via the Fitbit Surge. Depending on the features that students desire these can range from $100-250, and are not limited to cyclist users.

            Since at its core, UFBIKE is just another transportation service it deals with a lot of competitors such as SNAP, Busses, Cars, Scooters, and all working pair of legs. However, both busses and SNAP take forever at times, and not everyone can afford access to cars and scooters.  In addition, the role of packing, price points, distribution, customer support, etc. is very important in my business concept because without these guidelines to maintain, my product will not be used or readily available. Lastly, I would organize my business by utilizing sponsorship and branding to make my idea reality. Working with other companies that have already made this system possible will provide me a base and a resource to ensure success in my venture. To get the staff we need, we can prioritize on giving students an opportunity to work on our maintenance team. The primary roles include: maintenance, distribution, and customer service. By partnering with other companies, I'm hoping that the university could reduce the startup cost and have student government use their funds to supply the rest of the budget needed to cover the expenses.

Three minor elements:

1.  One of my top strengths is communication. I love surrounding myself with people and I have no trouble presenting myself in front of large groups or audiences. I'm get at presenting and just being myself even when I'm surrounded by strangers. Using this strength of mine I’ll be able to actively work with other companies and the different branches of the school to make this opportunity possible.

2.    2.   My next venture markets my idea as a fitness product. Please see above in the innovation section.

3.     3.  With this product, I want to leave my legacy here at the University of Florida. I want to be able to see students going to class and traveling throughout campus on my bikes. In addition, I want to see the current disaster of the normal bike racks solved. For the next 10 years and as an Entrepreneur, I could see myself working alongside some of these other companies who sponsored my idea and continue to implement this system in big cities across the world. This opportunity will have given me the experience needed to do just that.

Amazon Whisperer

1. The primary revenue drivers for my rentable bikes via the docking stations are UF students who need to cut through campus to get from point A to point B in a timely manner. In addition, other revenue drivers include students, faculty, and anyone else who wish to use the bikes for recreational or fitness use. With this, people can pay by either buying a semesterly pass or by paying per trip.

2. The next product I'm offering is an attempt to expand my customer base by marketing my product as a fitness device. The next item I'm offering stems from a partnership and sponsor that's similar to a Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers.

3. As previously mentioned, this new product will enhance my existing market by allowing users to track their fitness stats as they ride throughout campus. Since customers will now have access to view their fitness stats, the user experience will improve and customers loyalty will increase as they continue to seek positive results.

4. http://www.amazon.com/Fitbit-Surge-Fitness-Superwatch-Black/dp/B00N2BWF6Q/ref=sr_1_2_a_it?ie=UTF8&qid=1457541459&sr=8-2&keywords=fitbit+surge

The Fitbit surge is perfect for the cycling industry allowing users:

• GPS Tracking- See distance, pace and elevation climbed & review routes and split times
• Get continuous, automatic, wrist-based heart rate and simplified heart rate zones
• Track workouts & view workout summaries; plus all day activities including steps, distance, calories burned, floors climbed and active minutes
• Monitor your sleep automatically and wake with a silent alarm
• See call and text notifications on the touchscreen display
• Sync stats wirelessly and automatically to your computer and over 150 leading smartphones
• Utilize the sizing tool in Product Details below to ensure proper fit

What Customers like:

1.Accurate Heartrate Tracking

2.Functions as a sleek, comfortable watch

3.Large Battey Life

What Customer don't like:

1. Alarm must be set on the app

2. Lack of a stopwatch feature

3. Manufacturing issues upon arrival

5. With it being an electronic watch. The company has already gone underway and provided numerous updates to features such as the stopwatch and cycling tracking. Because these changes have already been made, I have nothing more to add.

6. This product will allow customers to directly view the positive and healthy contributions my product offers as a bonus benefit while using it on a regular basis. All other information has been previously mentioned.

Week 11 Reading Reflection

1. The idea that I found most interesting was the idea of Routine Innovation in which companies continue to build upon their technological competences and fits with its existing business model—and hence its customer base. With routine innovation, companies are constantly producing better models of their products.
2. I found the supply-push approach to be slightly confusing. When innovating or creating a new product, I would think you already have a market base in which you are trying to make their lives easier.
3. Which method of innovation is best for start-up companies trying to expand their brand? What are some examples of companies that have used and benefited from crowdsourcing?
4. This chapter was straightforward, and I did not think the author was wrong.

My Unfair Advantage

My Resouces:

1. Location - Efficiency

VRIN - With locations all across campus and a plethora of bikes ready for demand, bikes are always available on demand and ready to get you to where you need to go on time and as fast as you can peddle.

2. Social Capital - Theft Prevention

VRIN - With these new bikes, people no longer have to worry about having their own bike stolen. With the docking stations, bikes will be extremely secure and bike theft rates will see a decrease.

3. Financial Capital - Low-cost travel service

VRIN - Students will no longer have a need to purchase a bike and maintain it for the next four years. Instead students will be available to buy a semester pass or pay per trip.

4. Human Capital - Leadership skills

VRIN - Being able to communicate well and interact with others has helped me become a leader. Using my leadership skills, i'll be effective in managing my company and working with employees.

5. Social Capital - Customers can update the company through our app to report bike problems

VRIN - Implementing an app into our service allows us to receive direct feedback and work directly with customers to provide speedy mechanical and customer service.

6.  Financial Capital - Industry sponsored

VRIN - Getting sponsored by bike company will cut start-up services immensely. Working directly with a bike company, will allow us to meet the large demand for bikes.

7. Social Capital - customers will be able to see at which bike stations will be available

VRIN - With our app, customers won't have to worry about running to a station to find out no more bikes are available. Instead, customers will be able to directly view where both pick-up and parking locations are available.

8. The ending of dormant bike-rack clutter

VRIN - By implementing this new program, we can say goodbye to normal bike racks. With the removal of the normal bikes racks, campus will no longer be cluttered with old bikes that have been left and compiled over the years.

9. Social Capital - Fitness alternative

VRIN - Remaining fit seems to be very important on college campuses. Implementing this program would allow another option for students to remain fit rather than going to the gym and walking to class.

10. Market Research

VRIN - After doing research and interviewing customers, This opportunity for students seems to really be in demand. Having this research and potential market base ready and available will allow our company to succeed. 

The most valuable resource that our company possesses is the efficiency that we provide to students. Our platform is based off  students being in a hurry when running late and needing a speedy option to get to class. Having many locations with lots of bikes available will allow our customers to make it to the places they have to be on time. 

Growing My Social Capital

Domain Expert:

1. Assistant Manager at the Reitz Bike Repair, he works with the dealing, buying, selling, and repairs of different bikes.
2. He is filling in as the domain expert.
3. I walked to the bike repair shop at the Reitz and asked to speak with whoever was in charge to ask a few questions.
4. I asked different questions about what are the popular bikes brands that are cheap for students but are also durable and can sustain a long life. He also gave me his opinion on my idea of installing bike stations, and possible ways of how I could partner with the school and the on-campus shop. There was no return expectation.
5. Having this person would give me a sponsor and co-partner to turning my idea into a reality on campus.

Expert on the Market:

1. Manager of Chain Reaction Bicycles. He manages and runs the store that sells bikes primarily to UF students.
2. Filling in for the Market Expert.
3. I walked into the shop and requested to speak with the manager to ask some basic questions.
4. For this interview, I wanted to know who they primarily market too, which was UF students. In addition, I wanted to find out what techniques they used to market their product line and how they reach out to their market via advertising. In addition, I asked how they can continue to grow their market and gain interest. There was no return expectation.
5. This person was able to give me ideas to expand my market and continue to advertise my products.

Important Supplier:

1. I spoke with a representative of SCOTT Sports biking department one of the suppliers for Chain Reaction Bicycles.
2. Filling in for important Supplier.
3. While at Chain Reaction Bicycles, the had someone representing SCOTT Sports, so I approached him and asked him a few questions.
4. I asked about their different models and the different styles of bikes that the supply. I asked about the style of bikes that students typically prefer. In addition, I asked how cost plays a role into bike model and durability that students choose.
5. Having this person as a contact will allow me to supply bikes for my idea, if it was implemented here at UF.

Reflection:
After participating in this assignment, I am no better at going out into the world and talking with strangers. This assignment requires you to make contacts and put yourself out there. Having connections allows you to really start focusing on your ideas and begin the process of bringing them to life. It also supplies you with a support line for if you are having trouble or even beginning to fail. In addition, these connection provide you with a basic guideline for success.

Week 10 Reading Reflection

1. The most surprising thing to me was the amount of detail that companies need to have on their money in the forms of charts and budgets. I am unfamiliar with the amount of charts and work that needs to be used to ensure that all gains/loss are recorded and accounted for.
2. Having little knowledge of accounting, I found the section on capital budgeting methods to be very confusing. I have trouble grasping when to use each method, and how each method actually works and is implemented within a company.
3. Which kind of capital budgeting methods work best for which kinds of companies? How is the information for these charts and data gathered?
4. I did not think the author was wrong.

Elevator Pitch No. 3

As always, to be successful and act professional, you have to dress the part. One important thing when giving a good pitch is being able to stand still and not shift your weight and move from side to side. In addition, this time, I made sure to be more audible and clear while being more engaged with the audience. I still need to work a little of memorizing my idea completely, but I'm still able to perform it 50/50 perfect without the notecard. I had no negative feedback and made sure to make the necessary adjustments to improve my performance. Because my feedback was very complimentary, I did not change my pitch very much but worked on the attributes mentioned previously.

Week 9 Reading Reflection

1. One thing I found surprising was the amount of factors or areas of market research data needed to effectively market products. There are so many different areas that have to be assessed before a product can be released or for it to bring in the largest amount of possible revenue for a company.

2. One confusing thing I read was the idea that "Buyers expect to pay even-numbered prices for prestigious items and odd-numbered prices for commonly available goods." This idea seems very strange to me, and I do not understand how or why this became an actual marketing principal.

3. Which ways to research the market are most common, and how is the data then organized? Which techniques are more expensive, and are the more expensive techniques worth investing in?

4. I did not disagree with the author.

My Secret Sauce

1. One of my top strengths is communication. I love surrounding myself with people and I have no trouble presenting myself in front of large groups or audiences. I'm get at presenting and just being myself even when I'm surrounded by strangers.

2. Another strength of mine is that I'm very personable. I love being able to connect with others, so I always try to spread myself and reach out to new people and try to connect with them. This also plays a large role in my happy-go-lucky type personality.

3. I also pride myself on my drive to get things done. Whenever I want to do something, I always put in 100% effort until the job is fully complete. Having this drive also keeps me from procrastinating and staying on top of my work.

4. In addition, I do not really care what other people think about me. I'm very in-tune with myself and my abilities. This allows me to live my life freely and allows me to be happy with my choices.

5. Lastly, I'm very focused on details. This skill allows me to be very organized in group settings and helps set a path to get things done on time and correctly. Having this strength also contributes to my abilities as a strong leader.

Here is what my friends thought of me:

This is Malik. He says I stand out because I enjoy dressing professionally wherever i go, I stay on top of my work, and I have a lot of charisma in my voice when i speak.

This is Kennedy. He says I stand out because I'm very personable, friendly, and that I also have no trouble putting myself out there. In addition, I'm always the first person to offer help whenever someone is in need.

This is Brandon. He says I stand out because I'm hard working, a great leader, and that I am good with people.

This is Eric. He says I stand out because I'm not afraid to be myself. I do not care about what other people think, so I am able to enjoy the things that I like to do. In addition, he says I am a happy-go-lucky type of person and a good leader.

Matt says I stand out because I am hardworking, friendly, and dedicated to whatever I set my mind too.

I see myself in the ways I mentioned above about my strengths. Generally, I am just a really friendly, happy person. As mentioned this is the same way, I come off to a lot of other people. I never really considered myself a good leader, rather I just see myself as someone who likes to get things done. Being in charge and proving myself to some of my friends has showed a lot of them that I am a good leader. I agree with everything said about my interviewees. I think my list still accurately portrays me.

Idea Napkin No. 2

1) You. 

Hello, my name is Justin Schlakman and I'm currently a first-year Finance major. One of the main talents and strengths I possess is being able to communicate easily with strangers. As far as UFBIKE goes my experiences include renting a bike and having to walk all across campus to get from point A to point B. My primary aspirations in life are to be successful and to also be happy. If I were able to start this business it would personally affect me because I would have another convenient way to get across campus. It would also make me happy knowing that I was able to make an impact and leave the University of Florida with a part of me by leaving my legacy. It is also reassuring knowing that I would be providing an eco-friendly way to travel and that I would be making other students lives more convenient. 

2) What are you offering to customers?

I'm offering students a new innovative system to traveling on campus.  UFBIKE is a designed program that consists of installing bike docking stations all across campus and replacing the normal clutter of dormant bikes racks.  UF bikes would be available 24/7 365 days per year, and would allow service at a quick swipe and touch of a button.  Rather than students having to rent a bike for a whole semester, to hardly ever use it, UFBIKE would give every student the opportunity to use a bike whenever most convenient for them, at a low trip, or semester price. On campus, bikes would be available at every docking station in which they can then be returned to any docking location.  For students, who already have a bike and do not live on campus, additional docking spaces will be available for regular bikes, so students would no longer have to bother with normal bike rack and locks. In addition, I would like to introduce an app in which students would be able to log on to view a record of their bike history that would allow them to report maintenance problems with their bike. In addition, the app will also allow students to avoid going to a kiosk and just sign up for a bike through the app. Also, the app will show students if bikes are available at every docking station. I'm hoping that the university could co-partner with a bike company to reduce the start up cost and have student government use their funds to supply the rest of the budget needed to cover the expenses. To address the problem of bike theft, like any bike would be primarily up to the person renting the bike to make sure that they dock the bikes properly/use a bike lock. A potential solution could be a tracker to find bikes after they are reported stolen. Because bikes are not traveling large distances, mileage is not too much of an issue and would not create many maintenance problems. In order to maintain all bikes, we can expand the bike center here on campus and partner with them and their department and allow students a chance at work. 

3) Who are you offering it to? 

The customers I'm trying to market to include any person who is currently on campus and needs a quick form of transportation to get from point A to point B. These people include but are not excluded to faculty, staff, students, and visitors. In addition, my market includes people of all ages who know how to ride a bike or wish to learn how to ride a bike. In addition, my market consists of people who currently own a bike and do not have access to a bike. This program will also primarily target new students. If new students no longer have to buy a bike as a freshman, they would no longer have to maintain it for the next few years and the bikes would eventually see a steady increase in use.

4) Why do they care?

I initially asked customers this question as a platform for my idea, "Have you ever been running late and began to feverishly hurry to try to make it somewhere on time on campus, and then thought to yourself “Oh man I wish I had a bike right now to use?” People are not always on time and don't always have access or do not wish to use uber, take a bus, or sprint across campus to get to the places they need to be at. UFBIKE offers solutions to customers: a quick, efficient, and easy way to travel. With this program, students would never have to worry about running late and people will now have another way to go directly through campus rather than just going around the major areas of campus. 

5) What are your core competencies? 

I admit, my idea is not entirely unique. It's already been established in many major cities across the world. Instead, I'm mainly looking to incorporate this system here at UF or maybe even the city of Gainesville. From the system already in place here of either renting a bike for a whole semester or buying a bike permanently yourself, UFBIKE would allow you to rent a bike at whenever most convenient instead of having to be in a long-term relationship with your bike.

I do believe these elements fit very well together with the model I have created. I feel as though my idea is both well rounded and complete that has the potential for a large market base that would actually use them. Unlike some others, I feel like my idea has the potential to actually become a reality and benefits students. 

Feedback Memo:

1. Putting in place a large-scale project like this will be very expensive, so I figure that we can afford this by either through a partnership or student government.

2. "How will you know if bikes are available?" Setting up an app to display where bikes are available would be very helpful.

3. How will we control maintenance? We will expand the bike center here on campus and employ students to cover the wide-scale maintenance.  

4. Do bikes have to return at the same station in which you got it? No, bikes can now be returned to any docking location. 

5. Will people actually use this service, since a lot of people already have bikes? Maybe not initially, but if we cut down a number of bikes people have to buy as a freshman, then eventually bikes the bikes would gain more and more popularity.

Week 8 Reading Reflection

1. The most surprising thing in this chapter was learning about the role of  venture capitalist, and how much influence they can have on either a start-up company or an individual idea.

2. I was a little confused about regulation D and all that it encompasses, such as rules placed on accredited purchasers.

3. During the venture capitalist evaluation process, what information is most important before pitching? Where are places that venture capitalist go to find these opportunities of investment?

4. I agreed with everything the author wrote in this chapter.

The Twenty Percent

For this assignment, my friend Matt Thompson(who is also taking this course) and I decided to go together and interview a Gator Alumni named John Malanchuch who has his own business. HIs business is commercial painting and repair.
For the complete interview click here:

Who are his customers?
His customers include university departments, residential homeowners, multifamily complex, general contractors, etc.

Where do you find your customers?
Word of mouth, leads, bid invites from general contractors, calls directly from UF, Shands, and other departments, websites, facebook, and Angie's list

What is your customers demographics?
Depends on the market. If UF department, then it deals with physical plant managers or mainteance. If specific properties, then property managers. For homeowners, typically professionals, who have enough money to invest back into a home, including professors, lawyers, couples above 30.

What kind of media do your customers consume?
Do not know much about this. Most customers are corporate entities. Generally do not pursue most leads via social media. Generally word of mouth.

What are your customers problems?
Getting screwed over by contractors. Work isn't going to go well. Time is going to be wasted. For painting, not going to like the color. Can i get it done cheaply, timely, and will it help re-sale value?

What are customers doing to fix their problems?
Might reach out to other entities. Have to be able to fit to your customers individually.

After this interview, I went to go ask customers about some of their problems.

Our entrepreneur definitely understands his customers problems. There were no differences between problems he discussed and the problems that customers discussed. The main problems were having to wait for long periods of time, and the job not getting done correctly. Overall, he had a clear understanding of his customers.

Half-Way Reflection

For this course, there are TONS of deadlines. That means you can't procrastinate much for this class, or else you will probably forget and miss your assignment, or you may not have enough time to gather all the information/videos for your assignments. To keep up with all the requirements, It is best to set a schedule and plan out when you are going to do each assignment. Looking ahead and realizing what you are going to have to accomplish is also a great way to stay on track. 

Lots of the assignments require you to step out of your comfort zone and approach strangers. The times you have to go out and track down people can become overwhelming when you already have a lot on your plate. During some of these moments, I have definitely felt like giving up, and maybe not submitting an assignment. To get through the day, you need to establish a positive outlook on this course and realize the values of how it can help benefit you. Once you realize this, you begin to realize that by not completing assignments you are only hurting yourself as you are losing out on the experiences this course provides you. I already had a tenacious attitude, so I do not think I have changed it very much since the class began. Following a routine though has definitely helped to get my work done. 

My three tips are as follows:

1. Do the assignments the correct way, on time, without procrastinating. 

2. Look ahead to plan out your schedule.

3. Maintain a positive mindset when doing the assignments and reflect on the skills you are learning while participating when venturing out into the real world.

Week 7 Reading Reflection

1. The most surprising thing in this article was about all the behind the scenes and data needed to be able to market effectively via segmentation. I enjoyed being able to see the examples provided of how different companies could use different strategies to expand their markets to generate higher profits, such as the luggage carrier expanding to international fliers based on the data.

2. I found the general article itself confusing. I understand that not all products are meant for all people. However, should we be trying to make products that are convenient for all customers to maximize profits? Or is it actually better to specialize and focus on groups via segmentation?

3. What are some examples of new marketing chiefs taking over large-scale companies and rebranding or adding new segmentation to the company? What are some of the best ways to gather information on a customer population in order to acquire the data needed for segmentation?

4. The author was not wrong with anything written.

Free Money

For this assignment, I decided to just wander about and try to target people who seemed to be distracted by something, either a cell phone, a laptop, or a TV.  To get the conversation going, I would just approach people and tell them that today was  "Act of Random Kindness Day" and then I would give them the dollar. After getting their response, I would tell them to have a nice day and be on my way. Using this strategy and acting like I was performing a random act of random kindness, I was able to give away every dollar. Here is what I got:

Overall, my experience was pretty easy. I feel when I approached people on the phone, who seemed busy, ended up more likely to take the dollar quickly because they wanted to get on with that they were doing. I feel if I tried a different reason, such as just receiving my paycheck and having a few extra dollars, might have caused people to be less hesitant to take the dollar. Because of this, I thought giving away the dollar was pretty easy. I assumed that people would be a little annoyed to after approaching them while they were busy; however, once they found out money was on the line they were quick to be more engaged. If i learned anything, It is that people love money, especially if its free.

Elevator Pitch No. 2

After reading my feedback from my last pitch, I realized I needed to slow down. Additionally, I realized that instead of speeding right through it all, I needed to pause and take a break here or there. I also needed better phrasing and pronunciation. I was surprised to hear that my pitch was one of the most professional they have seen compared to my other peers. I thought everyone's opinion was helpful and nothing was wrong or silly. Here is my take two on it:

This time, I kept a notecard so that I could have help instead of restarting over and over if I got lost. In addition, I made sure my pronunciation was better and was sure to speak slower and more audible. 

Week 6 Reading Reflection

1. The most surprising thing in this article was they way in which competition plays an effect in the world of business. Generally, when most people think of competition, they just think about new competitive industries, however, other factors such as suppliers and consumers are major things to consider within a business plan.

2. A confusing part to me was how companies merge but can still lose profit. With a company becoming bigger, I would think the company would be larger and appeal to more customers, thus causing them to gain profit.

3. What made you think of these five different factors to break this model down into? Are some forces more powerful than others, or are all forces considered equal?

4. I really enjoyed this article and did not disagree with anything. I think the article was very convincing and made a lot of sense.