30 A

I will remember for years to come having to ask people that are close to me what they think makes me different. I just found the whole process very weird when I had to ask these five people that are close to me that question. Maybe it is because I was worried about what they thought was different about me. The most joyous experience has to be when I was reading about the founder of McDonald's. It is interesting to read about the road to the creation of one of the most successful businesses in the world. I am most proud of when I was able to make that bug list in the beginning. That was the most challenging assignment, and I was extremely happy when it was completed.

I believe that I am closer to developing an entrepreneurial mindset. After completing this course, I now realize how under-rated risk mitigation is. If you are able to take calculated risks that will not destroy the business if you are wrong, then you will be a much better business owner. For future students of this class, I would tell them to have a specific day or two a week that they use to do this course. It is very easy to get off track when you do not have a day or two dedicated to this class. Also, for future students, I would advise them to complete all assignments as they are supposed to be done. You should read every book, and you should conduct every interview, even if it is not recorded. By completing the class as it should be, you will be able to develop your entrepreneurial mind.

29 A

Opportunity:



The people that I am selling this product to are busy. They are college students that have a pet and have a full schedule. They are the young families that are busy all day. The kids are going to school for most of the day, and both of the parents are working, leaving the dog home alone. These busy groups of people are usually worried about their furry friends that are left alone to their own devices. They are worried about the possibility of their dogs causing damage to their homes due to separation anxiety. Also, these people could be worried about the safety of their homes from intruders. This is quite a big opportunity. There are millions of families and individuals across the world that are busy every day with pets they care about. Currently, these people will buy multiple new toys a year because their dog destroys every single one they purchase. I believe that the people that are currently buying new dog toys on a monthly basis are not loyal to what they are buying now. I believe that once they hear of an indestructible dog toy, they will switch. I believe this window of opportunity will be open for a long time because I only know the recipe for the indestructible rubber used in every toy.



Innovation:



The Indestructible Dog Toy will be sold for $19.99 in stores and online on my website. The toy will be indestructible due to the special rubber that is in it. This toy has been tested with dogs large and small, to see if any breed could break it. Not one dog was able to do any damage whatsoever. Also, there is a hidden camera and speaker inside the toy. So, if you see your furry friend is tearing up the rug, you can play a loud sound from the toy, or you could speak into your phone to tell your dog to stop what they are doing.



Venture Concept:



In terms of the feedback from the last assignment, I received positive words from Abby Tucker. She mentioned that the price of the product was "reasonable." Additionally, She did mention that for some groups of people I could market it using the security feature, and for others, I could focus more on the fun aspect of it. I will then make sure that I make multiple versions of the same commercial in order to appeal to the different consumer groups. This piece of advice will allow me to make a lot more money in the long run. I am very thankful that Abby provided this great advice.



I will be in competition with many different businesses. Since I will be advertising a fun toy that has security features with it, I will be competing with dog toy and security businesses. I believe that consumers will see that they will be able to get a great bang for their buck when they see all the features in the product I am offering. I believe that packaging plays a large role in selling my invention. I will need packaging that makes my toy stand out when it is in the toy aisle at PetSmart. I will have a colorful box with huge letters that emphasize how indestructible the toy is. The pricing of the toy is important too. Since I am using a market penetration strategy, I will make sure that my price is one of the lowest in order to compete with the other toys. I also believe that the customer experience is important in continuing the success of my business. I think that word of mouth promotion is one of the most important parts of growing a business. If someone you know and respect recommends a product or service to you, you will likely try it if you have a need for it. I believe the business location will not be that important because my product will be sold at multiple different pet stores that I will not own.



I would ensure that my business is well organized to ensure success in the future. I will have a CEO, CFO, and a COO to run the long term strategy of the business. The floor managers will be responsible for more short-term product goals. I will try to only hire the best employees for production as possible for the lowest cost since I will not have that much money when I start the business.



I believe that my secret sauce is the special rubber that is used in every dog toy I produce. It is made from using ingredients found only in isolated places around the world that I will not mention. I have connections with multiple suppliers that can get me the ingredients form a reasonable price.



Next, I will begin the development of an Indestructible Dog Toy that has more features and price it higher to appeal to more affluent consumers. It is always a great idea to reduce your risk as an entrepreneur. Having multiple products will reduce the possibility of failure in terms of having to shut down the business because sales from one product can offset losses from reduced sales in another one.



I plan to continually grow this business by creating more products that will appeal to more consumer groups in order to make more money. I plan to continue running the business until my children come of age. At around the time they become adults, I will begin to slowly transfer ownership of the business to them.

28A

  In the next five years, I will probably decide to keep running my business. Since I will only be twenty-five years old, I do not think I will be able to live on what I received from selling the business. I will likely continue running the company until I am in my mid-forties. This will give me enough time to teach my children how to run the business and be successful. Then, at around forty-five, I will be able to retire happily, knowing that I have enough money saved up to have a great many golden years and that my children will be able to lead great lives like me. I believe that my exit strategy has influenced other decisions made in my concept. I decided last week that it would be beneficial to add features to my dog toy and increase the price in order to appeal to more affluent individuals in our society. I did this because I wanted to ensure that my business could do poorly on one toy and still survive with sales from another one. I will continuously innovate in order to grow and keep my business successful for many years to come.

27A

What surprised you the most?
I was most surprised by how close the two brothers were. The fact that they always ate together and had a joint bank account shows how much they value their relationship and trust each other.

What about the entrepreneur did you admire?
I liked that even though Orville Wright almost died in one of his flights, he was still determined to continue doing his work. Orville shows that if you are determined enough to see your goal get achieved, you should be willing to possibly die.

What about the entrepreneur did you least admire?
This is quite a hard question to answer. I liked pretty much everything about the Wright brothers. They are an example of what hard work and determination can get you in the United States of America. I least admire the fact that they did not have more safety features in their earlier models. They could have saved the life of the one American soldier that died in a test flight.

Did the entrepreneur encounter adversity and failure? What did they do about it?
The Wright brothers did encounter adversity and failure. During the testing of their plane at Huffman  Prairie, they failed multiple times before eventually getting a successful flight. Although they had a few failures they decided to try using a catapult to help with the initial takeoff. Their perseverance paid off when the plane flew.

What competencies did the entrepreneur exhibit?
These entrepreneurs exhibited that they were determined to see their hard work through to the end. Even if one of them ended up seriously hurt, they would not give up. Specifically, Orville showed the qualities of a businessman. He was able to take criticism and was nice to others. He had great soft skills.

Identify at least one part of the reading that was confusing to you
What was confusing for me was when the U.S. Army did not even respond to the first message that the Wright brothers sent. When I think of the U.S. Army today, I think of the best military in the entire world that spends more than the next ten best armies. Upon doing research, I found out that the U.S. Army was not as great as it is now in the early 1900s.

If you were able to ask two questions to the entrepreneur, what would you ask and why?
I would ask these two questions: If you were given ten million dollars when you were just starting to develop your plane, would you have continued with it? I would ask this question because I want to see just how dedicated they were to their craft. Secondly, I would ask: What is your outlook on the future? I am just interested in seeing how the two brothers viewed the world before the two global conflicts that would shape it forever happened.

What do you think the entrepreneur's opinion was of hard work? Do you share this opinion?
I believe that the two entrepreneurs believed that hard work was essential. The two brothers used the proceeds from their two businesses to fund the research and construction of their famous plane. Then, they continued working on their project even after running into multiple failures. I know that without their belief in the necessity of hard work, they would not have developed their plane.

26A

This past semester, I failed in getting the grade I wanted on the first and second marketing exams. During the leadup of the first exam, I only studied for four days because the Business Finance test was five days before the marketing exam. I put FIN3403 first because I am a Finance major, and I needed to do extremely well on this exam. On the second exam, I studied for eight days and fell short of my desired score by 1.8 points, which is the equivalent of one question. Now, I have another marketing test coming up. Hopefully, this attempt will be more successful.

I learned from these failures that I need to invest more time in studying for exams. Four days is not enough time to study in order to get the grades I desire. For the final exam, I decided to start studying earlier a little bit at a time. I did this because the final for Business Finance was only four days before the Marketing one. I do not want to repeat the results of the first exam, and I am determined to give it my all.

I handle failure by eating a lot of junk food the day I get the undesirable result. I also will usually start a new television show and binge-watch the entire thing. This class has changed my opinion of failure. This class has taught me that failure is not completely bad. If you can learn from your mistakes, you will come out better prepared to handle other failures.

25 A

Step 1: I believe that the next step for my company is to expand more into the dog toy industry. I will use the special rubber I have access to in order to create better versions of dog toys that are currently popular. I will also try to make the application I have for the toy to be easier to access. There are still some bugs that need to be fixed that I currently cannot afford to correct.  I will also attempt to make all future products inexpensive.

Step 3: After talking to customers, I found that they like the fact that I will attempt to keep my products cheap. One mother said that one of the reasons she likes my product over other random dog toys and cameras is the price difference. She said it would cost her double to buy the dog toy for her dog and a camera for home security if she was looking at the low end of both items. She enjoyed the high quality that she got from my product for the low price of 19.99. I will listen to what she said and continue to provide the same quality for an affordable price. She was happy to hear that one of my goals was to continue making affordable products.

            Another individual I interviewed brought up the idea of increasing my marketing efforts. If I am selling a product that does not have the highest margins, then I should try my best to sell the item to as many people as possible. He brought up the idea that if people have never heard of my product before, then they will likely not leave their home or go on their computer to purchase it. This suggestion makes total sense. Everyone I have talked to previously has not heard of my invention before. Most of them stated they like the product and would most likely purchase it. I just need to either hire someone to be part of my marketing team or I could outsource the work to another company.

New Group:

I want to target a wealthier group of consumers. I believe that I will be able to change the current design of the product to allow more customization. Also, I could always call the same product “premium” in an effort to market to wealthy people. Lastly, I could add more features to the existing dog toy.

Reflection:

Reflect: I talked to an older businessman who also liked my product. He pitched a helpful idea. He said I should try to continuously innovate on the existing product I have. He said I should add more features while increasing the price in order to appeal to more affluent families. This strategy would save my research costs because I would only be improving an existing product instead of starting all over. I already have some ideas on how the make this product better. I could add wheels to it, I could make it light up, and much more. These add-ons would cost very little for me and I would be able to mark up the price, which would make my margins a lot

            In the end, I like the idea of branching out to a different group of consumers. If I am able to add these features to my existing product, I will be able to make more money per item sold. Additionally, since my business model for this new item will be focused on selling to a smaller portion of the population, then advertising costs will not be much higher than I already pay to promote to poor and middle-class individuals. Also, I like being able to shift my risk from only one product to two. As an entrepreneur, I want to run a successful business and take as little risk as needed. For example, if I only had one item selling and it was not making sales expectations one year, then I would need to rethink my entire business model. On the other hand, if I have two items targeting two entirely different groups of consumers, then the chances of my business failing decreases. If one item has fewer sales for one year, the other item can help reduce the impact on the business. Consequentially, I am confident that expanding my business to appeal to more distinct groups will allow my business to thrive and survive.  

24 A- Joe's Indestructible Dog Toys

Business Name: Joe's Indestructible Dog Toys

Opportunity:

My indestructible dog toy has groups of people that have the need for this product. These are people who are generally extremely busy and also have a pet dog. These people can be young or old. However, in my research, I have found that older people are less likely to purchase my invention because of the technological aspect of it. One of the idea groups is college students that are gone for most of the day due to their classes and social lives that also have a dog. Another group that could use my toy is busy families. Usually, these families will have the house vacated most of the day because the children are at school and the parents are both working, leaving their dog alone. Moving on, the nature of the need is the desire to be able to have a dog toy that does not have to be replaced often and to also have the ability to see if the animal left at home is causing trouble when the other members of the household are out. From my research, I have found that most individuals try to deal with these two problems by buying multiple dog toys annually and also letting the dog’s misbehavior run its course. However, just letting a dog mature takes time, which can lead to massive amounts of damage before maturity. I have heard stories of dogs ruining expensive couches and rugs. By the time the owner gets home, it is too late to punish the dog. Consequently, the cycle keeps going on until the dog ages and learns how to properly behave. I believe that potential customers will likely adopt my product because they want to save money in the form of new dog toys and new furniture. Additionally, I believe that this opportunity is large. This toy can be used by millions of households across the United States and the world. It is cheap and easy to use. Therefore, I strongly believe this product will be able to serve the needs of millions and also make me millions of dollars. Lastly, I believe this window of opportunity will be open as long as dogs are owned as pets, which will be a long time.

Innovation:

My innovation to the marketplace is the Indestructible Dog Toy. This product is able to withstand the pressure of dogs as large as German Shepherds and Pit Bulls. This feature will allow consumers to save money because they will not have to continuously purchase new dog toys every time the last one is destroyed by their furry friend. Additionally, this toy has a hidden camera and speaker inside of it. Customers will be able to connect to their toys through an application. Using the application, the owners will be able to see a clear 4k video feed and will be able to speak into their phone to produce sound through the speaker within the toy. For example, if the mother of a busy family checks in on their dog during her lunch break at work, she will be able to see a clear picture. If she sees the dog causing damage, she can either speak into her phone, which will emit a sound from the toy, or she could play a variety of different sounds to tell the dog what they are doing is not correct. This toy will sell for the low price of $19.99. It is being sold so low because I am engaging in penetration pricing. I want to get as many sales as possible and have as many of my inventions in as many homes as possible.

Innovation:

This product will be able to address many different opportunities. For example, you could use the toy as another layer of security in your home. My company had over one-hundred people enter a staging room and asked each individual to find the hidden camera. Not one person was able to find the camera. Secondly, you could also use the toy in order to prevent your dog from causing damage when you are not home. Using the camera and speaker inside the toy, any owner connected to the product through our great application will be able to see what their dog is doing at any time, and will be able to create sound to alert their pet that what they are doing is wrong. Thirdly, consumers will save money when they buy my invention because they will never have to buy another toy due to its durability. I think that customers will want to switch to my product because of the three reasons mentioned above. My main competitors will be individuals in China that will be able to produce similar versions of my product at lower costs. I believe though they will have a hard time copying my toy because the formula used to make the rubber is patented. I believe that pricing, packaging, and distribution will play a large role in selling my merchandise. As a result, I am willing to compromise on price, and I will do my best to ensure I have the best distribution of my toys. Finally, I would hire at least ten people to support my production.

1) My secret sauce will be my customer service. I will always be available to talk to customers whenever they may have a problem. If my company forgets to send a purchased product, we will give a fifty percent discount on it.

2) I would like to venture into the home security space. I got a lot of great reviews talking about the security aspect of my invention. I would like to offer security that is affordable and provides great quality.

3) I would like to continue expanding my workforce. I will base my manufacturing in the United States in order to develop a great relationship with the American market.

23 A

1) Fundraising capabilities: This ability will allow me to raise money, which will allow my company to survive. This is something that everyone can do. However, not everyone has the same great people skills that I have. You could just take a loan out from a bank if you do not have the people skills and are willing to take on additional debt.

2) Quality Customer Service: This feature of my business will increase retention rates in customers to ensure they will continue to make repeat purchases. Many firms have great customer service while others have bad customer service. If you have the proper people in customer service, then you can imitate this ability. You also could outsource your customer service overseas and get the same end result most of the time.

3) Affordability: This is a valuable power that my business is able to accomplish. This will allow customers to feel that they are taking less risk when they are purchasing my product. There are many products out there that are affordable. This is not that hard to copy if you move manufacturing overseas. 

4) Competent Employees: Great employees will provide great end results. This feature is rare in firms that are just starting and do not have a lot of money. However, as a firm gets bigger and bigger, it will able to afford to pay competent employees. Also, companies can automate parts of their production process in order to get the same results.

5) Durability: This element will allow my product to stand out because there are no toys like mine on the market that actually are indestructible. Additionally, it is hard to copy my product because of the secret recipe of the rubber used in my item. Competitors could try to find other materials to imitate what I have. Regular rubber could provide the same benefits.

6) Positive cash flow: This aspect of my business will allow me to pay my employees, pay my bills, and continue to grow the business. Many companies across the world have positive cash flows. If you have proper goals and have great employees, and have a popular product or service, then you should have a positive cash flow. There is not a good substitute for a positive cash flow.

7) High Market Share: This strength will allow my business to use the same market share to sell more products to. Also, as sales increase, production costs generally go down. Many companies have large market shares in their respective industries. If you want to increase your market share, you can use penetration pricing to attract more customers. Instead of having a high market share of the general population, companies can try to use a skimming approach in order to attract only a large section of high-income consumers and still get the same end result.

8) Connections with Competitors: Being able to call competitors that I know in New York and California will help me know ahead of time what people in the same industry are doing. This ability is not rare because everyone is connected to everyone somehow. Thus, it is not hard to copy this strength. You could always just call your competitor and ask what they are planning to release next. The worst they can say is that information is confidential.

9) Innovative: I have the ability to continuously make new and better products. As a result, I will be able to continue making sales and gaining market share. Innovation is something anyone can do. However, not everyone is great at this skill. Instead of being innovative as a company, you could always buy a smaller company and use the ideas, products, and people they have in order to stay ahead.

10) Connections to get the ingredients of the rubber cheap: Without these connections, I know that I would not be able to sell my product at this low price, which would have decreased my market share. As far as I know, I am the only person able to get each raw material at such a discounted price. Others could try to get the discounts I get. On the other hand, I large corporation could build factories and that just focus on generating the materials needed for the special rubber. 

Top resource: Connections to get the ingredients of the rubber cheap:

Since I am the only person who knows the recipe for the special rubber, no one else would know what resources to even attempt to get a discount for. Consequently, I will be the only one who can produce this product and be able to produce it at such a low price.

Assignment 22

1) Video link: https://youtu.be/Ei56fESB1kI


2) Once again, I did not get any feedback for the elevator pitch I did. As a result, I decided that I would try to change my presentation a little.

3) To change my presentation and make it even more refined, I decided to include more hand motions, and I also decided to use more fluctuations in the volume of my voice just like Phil Swift of Flex Tape does. Also, since this is the third time I am doing this pitch, I have my script memorized. This means that there will be no pauses like what happened during the first attempt at this assignment a few weeks ago. Also, I tried to decrease my use of fillers to almost zero. I believe when you use many fillers, you look like you have not rehearsed the presentation enough, which shows you do not care enough about your work. I hope you enjoy my third pitch.

Assignment 21

Book: The Long Tail, by Chris Anderson
1) General theme or argument of the book:
The general argument of this book is that it is quite possible to survive and thrive as a business that offers a plethora of products that appeals to many small groups of consumers. An online video-game store can offer a larger library of products than a brick and motor store can. As a result, this online video-game store will be able to attract more customers and possibly get more purchases than the brick and motor store that only has the most popular games on the market.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT3003?
This book enhanced my learning in ENT3003 because it thought me that you do not have to rely on one or two products you are selling in order to run a successful business. In order to mitigate your risk, you should offer as many products that appeal to all different demographics and preferences to be prosperous.

3)If you had to design an exercise for this class, based on the book you read, what would the exercise
 include?
If I had to design an exercise for the class, I would have everyone develop ten products. These ten products would have to appeal to as many people as possible. The person who has the most "purchases" would win the exercise and would be given candy.

4)What was your biggest surprise or "aha" moment when reading the book? In other words, what did you learn that differed most from your expectations?

What differed most from my expectations was the fact that anyone offering many different "niche" products online can compete with the bestseller product of the category. This makes a lot of sense. Before reading this book, I believed that an entrepreneur should try their best to offer one or two products that will get a massive amount of attention and sales. However, this way of thinking goes against one of the biggest principles of entrepreneurship: risk mitigation.

Assignment 20

Domain Expert:

1) This person is a manager at PetSmart. This person is young and has been working at PetSmart since she was 17. She is currently twenty years old.

2) Domain Expert

3) I am friends with this manager. I knew her in high school, and I am still in contact with her on a weekly basis.

4) I went out to lunch with this person and paid for it. In exchange for that favor, she allowed me to ask as many questions as I wanted about her time at PetSmart.

5) Having this person in my network will allow me to catch trends that are developing in other dog toys. Also, she can tell me what customers are buying on a daily basis.

Expert:

1) I contacted Koltin Hammer of Kong Dog Toys

2) Expert

3) I contacted Koltin through LinkedIn because he is an online marketing coordinator for one of my competitors: Kong


4) I contacted Koltin through LinkedIn. I sent him a request to connect, and I asked him about his online marketing strategies.

5) Having this person in my network will allow me to learn how to properly market my product online, which is absolutely necessary.

Important Supplier

1) I contacted the supplier for the "Pet Toy Dog Cotton Blend Rope Tug Dog Rope Playing Chew Toy." This toy has quite the name

2) Supplier

3) I Contacted the supplier using the option that is available on Alibaba because I wanted to ask questions about their process of being a supplier for that dog toy

4) Contacted the supplier using the option that is available on Alibaba.


5) This person will be available for any questions I have about have to deal with suppliers in the future, which will be beneficial for the business.

Reflection: I believe that these experiences will allow me to better prepare for future networking activities. Having a list of prepared questions when taking someone out for lunch would be a better approach for next time. Also, I will bring my computer or phone in order to take notes on what the person says. Lastly, these experiences did not differ that much from my previous networking activities.

Assignment 19

1) My name is Joseph Cuillo and I am a student at the University of Florida. I am a proud member of the Heavener School of Business. I am very skilled at talking and getting deals for items I purchase when I shop on Craigslist. My aspiration is to grow my business to be worth over one billion dollars. My business will be my entire life. I will give up time with friends and family to help my business.

2) I am offering an indestructible dog toy that has a camera and stereo inside of it. I am offering security for a family's house and also a one-time purchase that will never have to be repeated.

3) I am offering this product mainly to people that are very busy and also have a pet. 

These customers will generally be young, meaning they are either in college, just started their first job, or are just starting their family. I would like to include older people in this list; however, they are more likely to stay at home and are usually not great with technology.

4) My customers will pay for my product because they want their dogs to be happy, and they also want to ensure their homes are safe when they are away

5) What sets me apart is that nobody has a product that has features like this. My product will stop dog owners from having to replace destroyed toys, and it will also provide security. Also, I am willing to outwork and outsmart anyone that tries to compete with me.

I believe that these elements fit together well. I am willing to work hard to provide the best product to my customers. My business has a strong product to stand behind for a long time. However, only having one product is a downside that my business has. If this product does not perform well, then my entire business will be in ruins. As a result of discovering this flaw, I will begin research and development of a new product to decrease the risk my business currently has. I believe that since my customers are extremely similar, they will be able to form brand communities, which will help the promotion of my small company. Additionally, it is great that my customers and I are so much alike. I will be able to relate to them easily when creating my new product and when I am doing promotions myself.

Lastly, I did not get any feedback from the first version of this assignment. So, this is not much to say in the feedback memo. 

Assignment 18

My prototypical customer is someone who belongs to a busy family and also has a dog. The father and mother both work long hours. The father is an engineer and the mother is a busy manager at a successful hotel. The kids are in school most of the day. Meanwhile, their dog is left alone all day long. This family is one that is always rushing to get out in the morning. See the picture below for better clarification.

The mother has a large red minivan, and the father drives a Toyota to save money. This family is one that is young. The parents are in their late twenties and the children are just going into kindergarten. The father loves to watch football every week, and the mother likes to watch the Bachelor. The family has a modest house as it is their first one. The father is almost finished with paying off his student loans from his master's degree. The mother generally cooks the most, but the father can always substitute as needed, such as when the kids are rushing to get ready for school in the morning.
The family feels bad that they have to leave the dog alone.

The mother and father especially hate it when all the toys they buy for their furry friend are broken the next day. They have already spent $100 on dog toys this year. Also, the neighborhood the family lives in has a house that was just broken into a week ago. The family cannot afford expensive security systems.


Similarities:
The customer avatar is extremely similar to me because I am always on the go. I also have a Toyota vehicle in an effort to save money. Additionally, the avatar and I are both young, and we both have a dog that needs attention. I am not surprised by these similarities. The Indestructible Dog Toy that also acts as a camera was invented because I always wanted security for my apartment. Also, my dog is great at destroying any toy I buy him.

Assignment 17

Looking back at my comments from the previous elevator pitch, the reviewers really liked the statistics I included in the video. Also, they liked the confident tone I used when speaking.
However, I did get a complaint that my video showed up upside-down. I thought originally that it would make me stand out from the rest of the posts. I will make sure the video is not upsidedown.
One comment complained about the camera possibly having negative effects on the dog. The comment did not elaborate on this statement. As a result, this comment was not very helpful.

https://youtu.be/a6_xvtrbbGc

16A

Five types of human capital that make me unique:
1) I believe my determination in terms of studying makes me unique. I am willing to outstudy anyone in order to get the grade I want. For business finance, I studied over one-hundred hours for each exam in order to get the grades I needed.
2) I also think my interest in finding out who I am related to makes me unique. I have always wanted to discover my ancestry. I took a DNA test for Ancestry.com and found out my ethnicity. I also discovered people who had similar DNA.
3) My ability to isolate myself and focus on a task is what makes me unique. When I have a huge test, project, or assignment that needs tremendous time and effort to be completed, I am able to completely devote myself to that one job. Although many people may call this unhealthy when I lock myself up in my house to get something done, I know I will do whatever is necessary to meet a challenge head-on.
4) My ability to day-trade successfully at the age of 19 is what makes me different. I love to invest in crypto, stocks, and ETF's in order to make a quick dollar. Day-trading is not for everyone. Generally, I devote myself for hours at a time without eating in order to make a profit on any given trade.

5)Finally, I believe that my ability to be calm, cool, and collected even in the most stressful situation is what makes me special. Specifically, during the first exam for business-finance, I was able to complete the exam and get a great grade. During the two-hour test, I stayed calm and was happy with the results. 

5 Interviews:
Mom: https://soundcloud.com/joseph-cuillo/mom/s-rWAw4#t=0:49
My mom told me that my work ethic is far beyond what a regular person has. Just like I mentioned above, I am willing to outwork anyone in order to get the result I want.

Nick: https://soundcloud.com/joseph-cuillo/nick/s-aWTgZ#t=1:28
My brother here shows he is still angry that I did not get any food for him at McDonald's a few weeks ago when I was home for the break. Nick says here that I look out for others instead of myself.

Dad: https://soundcloud.com/joseph-cuillo/dad/s-hr9ls#t=4:01
My dad mentioned in this conversation that I have a great "thirst for knowledge." He went on to say I have always been interested in politics and current events since I was very young, which is not common.

Manny: https://soundcloud.com/joseph-cuillo/manny/s-zdrQn#t=1:23
Manny says that he finds me different because I like to invest in cannabis stocks.
This is definitely a rare hobby for someone my age.

Nana: https://soundcloud.com/joseph-cuillo/nana/s-xZdoq#t=1:47
My grandmother says I am unique in the way I greet them when I come over to their house.
I generally try to be bubbly and energetic whenever I greet anyone because I think it shows the person that I am happy to see and talk to them.

Reflection:

I believe that how I view myself and how others view myself is quite similar. I think of myself as someone who works hard, loves investing in stocks, and I also like to be vivacious. I am happy that these five people see me this way. I believe that these interviewees are correct about me. Going back to my list from part one, I would not make any corrections to my list because they are so similar to what the people I interviewed said.

Reflection: 

15A

Interview 1:
Does price matter more than quality?
Answer: It depends. Usually, I like to find deals when I am shopping. So I guess I like to get the best quality for the least amount.

Does style matter?
Answer: For this item, it does not.

Are you more likely to buy online or in-store?
Answer: In-store. I love to go shopping at stores so I can talk to people. I am retired and do not always get to talk to people other than my husband for a week at a time if I don't go shopping.

Are you more likely to buy in cash or would you finance?
Answer: Cash. I listen to Dave Ramsey all the time, and I can't stand the stories of people getting into credit card debt.

What made you think this was a good item to purchase?
Answer: I liked the two for one deal. I.liked that I had security and my dog now has a toy.

Interview 2:
Does price matter more than quality?
Answer: Quality is king. That is all I have to say.

Does style matter?
Answer: It depends on the product.

Are you more likely to buy online or in-store?
Answer: in-store

Are you more likely to buy in cash or would you finance?
Answer: It depends on the item. I would pay cash for this item since it is so cheap.

What made you think this was a good item to purchase?
I wanted to get a dog toy that would not be destroyed in two days. I could not care much about the security aspect.

Interview 3:
Does price matter more than quality?
Answer: I view the more expensive an item is the better the quality. So, I believe if you want a good quality item, you need to pay more money.

Does style matter?
Answer: Yes. What you buy needs to fit your house.

Are you more likely to buy online or in-store?
Answer: I would buy online because I do not want to catch the Coronavirus. I like how easy it is to buy items while I am lying in bed.

Are you more likely to buy in cash or would you finance?
Answer: Either or is fine. I like to buy items using crypto like Bitcoin.

What made you think this was a good item to purchase?
I just imagine that no intruder would think a dog toy has a hidden camera. I like the security it provides.


Conclusion:
It seems that my segment is more likely to pay in cash due to the fact that my item is so cheap. Also, it seems that my segment is happy to buy my items even if they do not seem to like the style since it is a toy for their dog. It also seems that all three interviewees were happy with their purchase and did not think the item was too expensive. I will try to ensure that I can keep the price of the indestructible dog toy low for this segment.

Assignment 14A

During this course, I developed into someone who is much more responsible. What I mean by this is that all my assignments are turned in early and they are done to the best standard possible. This also shows that I am a results-oriented kind of person when it comes to this class and everything else I have to do this semester.

I felt like giving up last semester when I was taking Calculus Two. This class was the hardest math class I have ever taken in my entire life. After scoring the lowest on my first test compared to my many previous math courses, I felt lost. However, what kept me going was my determination to get my degree in finance. In the end, I was able to complete the course, and I am on my way to getting my degree.

Tips:

1) Have an end goal in mind: Why are you doing this course? Because you want to be an entrepreneur or something like that.

2) Take a look around the world. What I mean by this is you need to look at how people are living in Africa, Asia, and South America, and use your desire to be well off in order to motivate yourself. Although this is not a nice way to put it, I found myself much more determined to work hard after driving through a crime-ridden neighborhood or reading global news.

3) Develop a routine of success. Always do the best you can do in any assignment. Try to find a routine that allows you to achieve success, and you will find yourself doing better on exams and assignments.

Assignment 13A

I was surprised the most that McDonald’s was essentially stolen from the original owners of the restaurant. I most admire Ray’s determination to be successful. However, I did not like Ray gave up his family for his business. Ray did have trouble dealing with the McDonald’s brothers as they were not helpful at all with expanding the business. They were more focused on running their restaurant in California. Ray exhibited that he was able to negotiate with the meat cartels in California so that he would be able to sell hamburgers at fifteen cents each. Honestly, I found the part about the “meat cartel” to be most confusing. Why was the federal government not doing anything about these horrible suppliers that were ripping off businesses? That part definitely confused me. If I could ask Ray two questions I would ask about if he would do it again. What I mean by that is would he dedicate his life again to his business if he had a do-over, or would he spend more time with his loved ones? Also, with the foresight you have now, what would you change in your business strategy from day one? I know that Ray believed in hard work. From selling paper cups to playing the piano for extra money, Ray knew that hard work was required in order to be successful. I completely share this opinion.

Assignment 12

Choosing a segment:

I decided to choose mothers and mothers that have at least two children and a pet.

These three couples that I chose are generally all extremely busy. Both the father and the mother of each set were working full time as well. These examples are the perfect sample of the people that would most likely busy my product.

Interviews:

What I learned-

I learned that there is still a great demand for a product like mine. One father mentioned that he liked how he could have a two-in-one purchase: the dog toy and camera. The mother chimed in saying she liked being able to view from her phone a live feed of the camera in the toy. I asked the families if they found it annoying the product would require battery changes every month. One father stated he found it a little tedious. However, he said that that factor would not stop him from purchasing the product. One of the couples stated that they had a break-in recently and the robber hit the cameras in their home with a baseball bat when they were out of town. That was the moment they decided they needed a security camera that was untraceable. They tried searching online on Amazon to look for a hidden camera. I should probably put this item on Amazon and promote it on the website.

Assignment 11

You: I am a junior at the University of Florida, and I am majoring in finance. I have certifications in Microsoft Word, PowerPoint, and Excel. My aspiration is to own a profitable business. I believe my business will end up taking up most of my time.

What you are offering: I am offering a two in one product: a dog toy and a camera for home security. Every year, thousands of homes in the United States alone are broken into. Additionally, thousands of pet owners experience problems from animals that have separation anxiety. This device will function as both an indestructible dog toy that will save the owner from having to buy more and more dog toys and also serve as a security measure with the camera inside.

Who are you offering to: I am offering my product to younger employed pet owners and busy families that also have pets. These owners can be of any race, gender, or color. Mostly, younger people and families that are busy will be the key market segment.

Why do they care: People will pay money to use my product because of the efficiency of the purchase. Instead of spending hundreds of dollars on security cameras and security subscriptions, people can spend 19.99 on my indestructible dog toy that so happens to be a dog toy too. Also, this toy will limit the number of dog toys purchased over the years.

Core competencies: Nobody else has thought of having an indestructible dog toy that also acts as an additional layer of security. I would have the entire market share for this product in the beginning.

I believe that these elements do fit together. I have a clear goal of establishing a business that will be profitable. I also have a great product that nobody else is offering at the moment. Also, I have a large market to advertise this new product to. Additionally, people will see that this one-time purchase would save them time, worry, and money. Moreover, this product has an affordable price at only 19.99, which will make it easy for people of all economic backgrounds to buy.  At the end of the day, this is a new, smart product that any American and anyone around the world would like to have.

Assignment 10A

Assignment 9A

Who: Throughout my interviews, I found one section of the population that would not want to buy my invention: older people. The toy I am bringing to the market will be for active people that are often not at their homes. Seniors generally are less active than young people with jobs and younger families. Also, this toy will require the client to be tech-savvy, which many seniors are not the most tech-literate.

What: The older gentleman made a great point. Once the dog/pet is used to its surroundings, then this destructive behavior will likely subside. While this is a fantastic point, I believe people will also get the toy as a sense of security too.

Why: The people outside and inside the boundary have a similar problem. However, the people outside the boundary are much less likely to have the problem due to their lower activity levels.

                           Inside the Boundary                                                                  

Who:            Younger-working people, busy families                                                

What:            Security, home-protection                                                                          

                                                                                                                         

                                        

Why:        Busy individuals or families may not                                               

                 have time to always be home with                                                   

                their animal.

                          

                          Outside the boundary

Who:  Seniors

What: home protection from animal damage

Why: These people are more likely to stay home

Assignment 8A

·       My invention is an indestructible dog toy that allows the owner to see and speak to their pet when they are not home. This product will have a camera for viewing, and it will be accessible through an application that can be downloaded on your phone or computer. Using advanced technology, the camera on the toy will be able to identify when the dog is in the process of destroying an object and will alert the owner through in-app notifications.

·       Every year, thousands of homes across the United States and the world are damaged as a result of pet separation anxiety, which is caused by the isolation of the animal without any other being present. I believe that my invention will save individuals thousands in damage and will also act as security when they are not home. What robber is would think the dog toy has a camera in it?

·       I believe millions of consumers will buy my product because of the two-for-one deal they get: security and destruction safety.

Assignment 7A

Assignment 7A

Animal Separation Anxiety:

·       Opportunity:

o   Every year, thousands of pet owners have to deal with the consequences of leaving their animal alone at home.

o   The Who: pet owners of all ages

o   The What: pets causing damage when left alone

o   The Why: leaving pets home alone, which causes separation anxiety and damage

Testing the who: These pet owners can be from around the world as this is a worldwide problem

Testing the what: I will interview dog, cat, and other animal owners in order to get to the bottom of this problem that impacts so many animals.

Testing the why: I understand already why this occurs. Many animals will suffer from separation anxiety when left alone, generally at a younger age.

Interview 1: In this interview, conducted with a twenty-five-year-old male, I discovered that this man ran into trouble with his pet when he had to start working longer hours. In college, he usually had to leave his dog alone for four hours at the most.

Interview 2: Next, I interviewed a female of a similar age to see if this was true of both genders. At the end of the interview, I was able to confirm that this indeed was not just a problem for newly working females.

Interview 3: Next, I interviewed a middle-aged female that had a family of five. She had never experienced this problem of separation anxiety because she never had to leave her dog alone for long periods of time due to the fact that she was a stay at home mom.

Interview 4: I talked to an older gentleman, who so happened to be my grandfather, over the phone. He had a similar response to the lady above. Due to the fact that he was home most of the time, he does not remember a time his cat damaged the house.

Interview 5: Lastly, I interviewed someone I knew had a dog suffering from anxiety. She said that she would give the dog treats whenever she got home, and the house was not damaged. When the house was damaged, she brought the dog to the scene of the crime and punished the dog.

Given your interviews, what do you know about your opportunity that you didn’t know before?

I know that I am targeting people that have busy lives. Thus, older people are not going to be one of my top customers. Also, I now know that I have a great idea. Many Americans and people around the world have pets that have separation anxiety. As a result, I am happy I am pursuing this opportunity.

Assignment 6A

Economic Trend: Federal Reserve Leaves Interest Rates Unchanged

o   Source: https://www.usnews.com/news/economy/articles/2020-01-29/jerome-powell-federal-reserve-leave-interest-rates-unchanged

o   There is an opportunity here. The Federal Reserve of the United States has been lowering interest rates for the past year in an effort to increase market liquidity. The response to the news could cause an economic downturn.

o   The ideal customer would-be investors and Americans that have access to vast amounts of disposable income.

o   I saw this opportunity because I am extremely interested in the stock market. The average American would see this headline and think that this change is no big deal. However, with my experience, I know this one move from the Fed could end this bull market fast.

Economic Trend: Sentiment Among U.S. Consumers at an 8-Month High

https://finance.yahoo.com/news/sentiment-among-u-consumers-rises-150000910.html

o   There is a great opportunity here. Looking at the results from the University of Michigan’s consumer sentiment survey. The sentiment index is up to 99.8 from 99.3 in December. This fact shows that consumers are not worried about the state of the economy, which means they are not changing their spendi9ng habits anytime soon

o   The ideal customer would be the average American consumer. These people can be part-time or full-time workers.

o   This data would be a welcome sign for corporations wondering if they should increase investments in the United States.

o   I saw this data because I am always looking at the health of the United State’s economy.

Regulation: Fix the “Hodgepodge Cryptocurrency Regulation in the United States

https://www.coindesk.com/andrew-yang-us-has-to-fix-its-hodgepodge-crypto-regulation

o   This is a great opportunity. Although there has been no clear federal regulation of cryptocurrency, it would be beneficial to have one set of rules in the United States regarding this new currency. Clear regulation would allow businesses, scientists, and entertainment personalities to be supported by fans and others in different ways.

o   The ideal customer would be businesses across the United States, scientists, and others to get funding for their work from across the world.

o   I discovered this opportunity because I have run into this exact problem myself when using crypto. It is annoying to have to read state by state rules on this currency.

Regulation: U.S. Agencies Debut New Biotech Regulation Website

https://www.world-grain.com/articles/13132-us-agencies-debut-new-biotech-regulation-website

o   I believe an opportunity exists as a result of the creation of this new biotech regulation website. This new website, which was created as a result of an executive order of President Trump, will allow innovation to occur more easily.

o   I believe all inventors will benefit greatly here. Now that this website has been created, it will allow innovation to become more efficient and less costly as it will be easier to see all the regulation.

o   I discovered this opportunity because I always wondered how innovators knew what regulations they had to follow. It seems now that this new website will streamline the process.

Assignment 5A: Identifying Local Opportunities

#1) “Gov. Ron DeSantis, Florida legislature not addressing Medicaid shortfalls, health advocates say” by Jeffrey Schweers of The Gainesville Sun

https://www.gainesville.com/news/20200130/gov-ron-desantis-florida-legislature-not-addressing-medicaid-shortfalls-health-advocates-say

·       Medicaid in Florida has shortfalls

·       Unemployed individuals cannot get healthcare from Medicaid

·       Florida Senate passed a bill expanding Medicaid a few years ago, no support in the house

·       Currently, cuts are being proposed to Medicaid in Florida, which would affect the four-million people that rely on it

·       3000 older Floridians died due to this gap

The Problems: Possible cuts to Medicaid would leave millions of people without proper healthcare.

The People: Older Floridians, the children of low-income families, disabled individuals and pregnant women

#2) “High-Priority Violations: Alachua County restaurant inspections (Jan. 20-25) by The Gainesville Sun Staff” https://www.gainesville.com/photogallery/LK/20200129/PHOTOGALLERY/129009984/PH/1

·       This article features restaurant inspections from January 20-25

·       The Florida Department of Business and Professional Regulation is responsible for these reports, many of which will disturb you

·       The Hilton University of Florida Conference Center received five high-priority violations

Raw meat was stored above ready-to-eat food, which can cause cross contamination

·       Cross contamination can cause an upset stomach, nausea, and diarrhea and other food poisoning consequences

·       Additionally, the salad-bar did not have a sneeze-guard window, which would have helped prevent the transmission of disease

·       The Samurai Japanese Steak House and Sushi Bar also stored uncooked meat above ready-to-eat food

·       These two restaurants could have caused serious illness, just imagine eating sneezed on salad

The Problems: Many restaurants in Alachua county are not upholding safe food cooking and storing standards. These violations in basic restaurant code could lead to serious illness for unsuspecting customers.

The People: The residents of Alachua county

#3) “Earthquake off Jamaica felt in Florida” by Michael Williams of WPTV

https://www.wptv.com/news/state/earthquake-off-jamaica-felt-in-florida

This brief article discusses what happened in Miami on January 28^th. An earthquake that occurred off the coast of Jamaica caused hundreds of office workers to be evacuated from high-rise buildings in Miami. Generally, Floridians have to prepare every year for hurricane season. This earthquake is a change from what Florida has experienced in the last few years. However, in this age of climate change, global warming, global cooling, or whatever you prefer to call it, it is important to be mindful that the climate of the world is constantly changing. This change is not always a good one, much like what happened in Miami. This creates a great business opportunity. If earthquakes begin to become more frequent near Miami, the city government may require new building codes, which savvy builders can take advantage of.

The Problem: Climate change is hitting Miami, and it is not a great change. Instead of facing hurricanes every year, people in Miami and Florida may have to prepare for earthquakes.

The People: Floridians, homeowners, business owners

#4) “UF Health monitors rumors of coronavirus spreading to Gainesville” by Hannah Phillips of The Independent Florida Alligator https://www.alligator.org/news/uf-health-monitors-rumors-of-coronavirus-spreading-to-gainesville/article_69a9b1a0-426c-11ea-86b2-87354e5a2a4e.html

·        The City of Wuhan, China was quarantined last week. However, five million of the residents of the city are unaccounted for as of today

·        Currently, UF Health is monitoring the situation but is not worried: “We will not be concerned until we know there’s a confirmed case.”

·        The rumor spread from a popular Chinese social media app called WeChat

·        A message on WeChat said that a UF parent flew to Wuhan over the winter break for the New Year

·        The UF International Center also identified four people who traveled from China in the last two weeks. None of them traveled specifically to Wuhan

·        As the number of infected across the world continues, people will continue to get more worried

·        For example, the Chinese Student Association has canceled its Spring Festival

·        Interviewed students stated they were happy the event was put off due to fear of spreading the virus

The Problem: There is a rumor at the University of Florida that the virus is already here. Students are worried about the possibility of catching the virus by going to class.

The People: University of Florida student, professors, Gainesville residents

#5) “Chicago woman infects husband with coronavirus, first human-to-human spread in US” By Julian Crews of WGN9 News

https://wgntv.com/2020/01/30/chicago-woman-infects-husband-with-coronavirus-first-human-to-human-spread-in-us/

There is significantly troubling news coming from Chicago. As of January 30^th, the first human-to-human spread of the Coronavirus has just occurred in the United States, specifically in Chicago. Before the event, the only people sick with the disease were people who had traveled from China to the United States. Health officials are saying currently that there is “no local emergency.” However, this could turn into a huge problem. Once a person catches the virus, they can spread the disease for 14-days until symptoms appear. Currently, there are over 10-thousand people infected with the Coronavirus.

The Problem: The Coronavirus is continuing to spread. The first human-to-human transmission of the disease has taken place in the United States.

The People: The people of Chicago, Americans, doctors, nurses.