Individual #1: Gilbert
Who are they and what's their background?
Gilbert owns a construction company that builds apartments and homes up from scratch. They have owned the company for around 15 years now and has been in the industry for around 20 years. His primary location for conducting business is in Miami, Florida.
Which slot is this individual filling?
This individual, Gilbert, is filling up the spot as the domain expert in my industry.
How I found and contacted the person
Gilbert is one of my dad's good friends that helped him build our past homes. I haven't met him since I was a baby but my dad told me about him once I mentioned my assignment. He gave me his phone number and I proceeded to contact him about filling up the domain expert slot in my industry.
The nature of exchange I have with this person
The nature of exchange I have with this person is pretty one sided: Gilbert is simply doing me a favor by helping me out and providing me with information about the industry.
How will including this person enhance my ability to exploit an opportunity?
This person will be essential to my operation as he will lay the foundation for my parking garages and will know all about the contracts, property laws, and things as such that goes into play with the construction of large structures.
Individual #2:
Who are they and what's their background?
The second individual I have chosen to join my force is Chance, a parking garage owner in South Beach, Miami.
Which slot is this individual filling?
This individual will be filling up the spot of the expert on my market.
How I found and contacted the person
I found this person by doing a little of research about parking garages in my area and stumbled across him on the internet.
The nature of exchange I have with this person
After briefly talking to the guy and having a friendly conversation with him, he seemed willing to help me out just for the sake of it. I asked if there is anything I can do in return and he said that he's just looking to help.
How will including this person enhance my ability to exploit an opportunity?
Since this person has all the knowledge and experience needed to raise a parking garage, he serves as a valuable asset and can really help me know the ins and outs of building garages such as the structural design, materials to be used, and tips for maintenance.
Individual #3:
Who are they and what's their background?
The third individual is a contractor and buildings material supplier named Miron who has been in the industry for almost 10 years.
Which slot is this individual filling?
This individual is filling the slot of an important supplier to my industry.
How I found and contacted the person
I actually found this individual through my market expert Chance, as he was in charge of providing the materials needed to build up the Chance's South Beach parking garage. I was given his number and contacted him with a phone call.
The nature of exchange I have with this person
Just like with Chance, Miron seemed enthusiastic about my idea and just wanted to help. Thus the exchange was pretty one-sided: he helped me out of kindness.
How will including this person enhance my ability to exploit an opportunity?
Having Miron on my team will significantly enhance my ability to exploit the opportunity as he will be the main supplier that provides all the essentials I would need to construct a parking garage. Without these materials, it wouldn't be possible to solve the unmet need of limited parking in the city of Gainesville.
Reflection:
I really feel like this experience shaped the way I would participate in any future networking events. First and foremost, it taught me how to speak to people of a higher up position and who's help I need. I feel like the communication there is a key aspect of getting a long with people and social networking. It also taught me that everyone is connected in some way or another. As such, I was able to meet Miron from my market expert, Chance. I feel like this experience taught me that networking means branching out and making new connections with different people. I have never really networked like this in the past since I've never considered a legitimate business so my networking experience does differ from that in the past.
Thursday, March 26, 2020
Assignment 19A - Idea Napkin No2
Who I am
I am a second year finance major with an economics minor at the University of Florida. I have a lot a skills when it comes to the market as I've been into trading stocks, securities and cryptocurrencies since I was 13. I eventually aspire to lead a hedge fund, in Wall Street preferably. If not, I wouldn't mind owning a small time business and living comfortably. At the end of the day, I would just like to be my own boss. Regarding this business concept, I only see it playing a role in my life to the extent in that it will be my primary source of income.
What I am offering to customers
The problem I am trying to address is the very limited parking that is available in Gainesville. In order to tackle this issue, I am offering to buy out single-leveled parking lots in active areas throughout the city, then proceed to build them upwards into multi-leveled garaged. Afterwards, I would set up a subscription system in which people have access to all the parking garages all around the city for a low monthly price compared to other decals. My garages would be technically innovative and would track the amount of spots at any given time during the day. All of these garages would be linked and shown on an app to offer customers parking at any given moment. This would solve the parking problem in Gainesville and allow residents to quickly find convenient parking.
Who am I offering it to
My business concept is tailored towards people who live in Gainesville, own a car, and yet have trouble finding parking. Naturally, the concept is geared mainly to college students since campus is the tightest area when it comes to parking yet there other people might still find it handy in certain busy areas.
Why do they care?
My target group would most definitely care about my service since there are always gonna be times when they have trouble finding parking and sometimes, the only thing that will be available would be my garage so they would inevitably be drawn towards it. This would especially be the case during football game day where a lot of people visit from out of town, if that's still a thing in the upcoming year.
My core competencies
What sets my business idea apart from anything else like is it is that my business would implement the most advanced and technologically efficient way to find parking at a moments notice. What makes it most unique is an app that will be linked to my parking system which displays all current available spots in nearby garages, in order to provide customers with the best experience and to help them find a spot as soon as possible.
Compatibility of elements
In all honesty, I feel like all the components of my idea fit really well together. My concept tackles the parking opportunity in the best way by offering more affordable and convenient parking in the busiest parts of the city. It's also so very different from all other parking systems around it which makes me think it might be a game changes. The technological aspect, financial aspect, and logical aspect all add up fairly well and I feel like the idea would fare well in the city of Gainesville.
Feedback memo
Unfortunately, I did not receive any feedback on my first idea napkin so I didn't really have anything in mind to improve. I feel like one main critique I would've gotten is to bem ore expansive about my idea and how it will actually provide the means to better parking and I have made sure to be more specific about that in this post.
I am a second year finance major with an economics minor at the University of Florida. I have a lot a skills when it comes to the market as I've been into trading stocks, securities and cryptocurrencies since I was 13. I eventually aspire to lead a hedge fund, in Wall Street preferably. If not, I wouldn't mind owning a small time business and living comfortably. At the end of the day, I would just like to be my own boss. Regarding this business concept, I only see it playing a role in my life to the extent in that it will be my primary source of income.
What I am offering to customers
The problem I am trying to address is the very limited parking that is available in Gainesville. In order to tackle this issue, I am offering to buy out single-leveled parking lots in active areas throughout the city, then proceed to build them upwards into multi-leveled garaged. Afterwards, I would set up a subscription system in which people have access to all the parking garages all around the city for a low monthly price compared to other decals. My garages would be technically innovative and would track the amount of spots at any given time during the day. All of these garages would be linked and shown on an app to offer customers parking at any given moment. This would solve the parking problem in Gainesville and allow residents to quickly find convenient parking.
Who am I offering it to
My business concept is tailored towards people who live in Gainesville, own a car, and yet have trouble finding parking. Naturally, the concept is geared mainly to college students since campus is the tightest area when it comes to parking yet there other people might still find it handy in certain busy areas.
Why do they care?
My target group would most definitely care about my service since there are always gonna be times when they have trouble finding parking and sometimes, the only thing that will be available would be my garage so they would inevitably be drawn towards it. This would especially be the case during football game day where a lot of people visit from out of town, if that's still a thing in the upcoming year.
My core competencies
What sets my business idea apart from anything else like is it is that my business would implement the most advanced and technologically efficient way to find parking at a moments notice. What makes it most unique is an app that will be linked to my parking system which displays all current available spots in nearby garages, in order to provide customers with the best experience and to help them find a spot as soon as possible.
Compatibility of elements
In all honesty, I feel like all the components of my idea fit really well together. My concept tackles the parking opportunity in the best way by offering more affordable and convenient parking in the busiest parts of the city. It's also so very different from all other parking systems around it which makes me think it might be a game changes. The technological aspect, financial aspect, and logical aspect all add up fairly well and I feel like the idea would fare well in the city of Gainesville.
Feedback memo
Unfortunately, I did not receive any feedback on my first idea napkin so I didn't really have anything in mind to improve. I feel like one main critique I would've gotten is to bem ore expansive about my idea and how it will actually provide the means to better parking and I have made sure to be more specific about that in this post.
Thursday, March 19, 2020
Assignment 18 - Create a Customer Avatar
My protypical customer is a student who lives in Gainesville and who commutes to campus and all around the city on the daily. They tend to drive a blue 2015 mustang GT and is always zooming from place to place, and thus requires a more efficient and reliable means of parking.
This image depicts how he typically looks on an average day:
My customer loves to drag race and game on his free time. He also enjoys trading stocks and such of the sort. He's always hanging out with friends and he's always out and about. He doesn't have any children since he's around 21. His favorite color is blue. Although, I should note, that he doesn't like to read, but instead rather watches anime like Naruto and One Piece. His favorite politician is Bernie Sanders. He always feels great and radiates positive energy from a day to day basis.
What I have in common with this avatar:
I also feel very free and open to doing a lot of things. I, too, am always out and about and hanging out with people. Most importantly, though, what I have in common with it is that I have a very important need of improved and reliable parking. I don't think that it's a coincidence that I have a lot in common with it since I myself am the creator of it.
This image depicts how he typically looks on an average day:
My customer loves to drag race and game on his free time. He also enjoys trading stocks and such of the sort. He's always hanging out with friends and he's always out and about. He doesn't have any children since he's around 21. His favorite color is blue. Although, I should note, that he doesn't like to read, but instead rather watches anime like Naruto and One Piece. His favorite politician is Bernie Sanders. He always feels great and radiates positive energy from a day to day basis.
What I have in common with this avatar:
I also feel very free and open to doing a lot of things. I, too, am always out and about and hanging out with people. Most importantly, though, what I have in common with it is that I have a very important need of improved and reliable parking. I don't think that it's a coincidence that I have a lot in common with it since I myself am the creator of it.
Assignment 17A - Elevator Pitch No. 2
Here's the link to my second elevator pitch:
https://www.youtube.com/watch?v=GoomI7KsCyE
Hope you guys enjoy!
A reflection from the feedback I received from last pitch
On my last pitch I got a lot of feedback saying that I did indeed acknowledge the problem of parking, but I didn't really delve into the details of my solution. After re-watching my first elevator pitch, I too was able to see this and noticed what they were talking about: I was just beating around the bush.
What did I change?
On this second elevator pitch, the big difference that I worked on was being brief on the introduction, and trying to provide a more thorough explanation of the process I would work on to take advantage of the opportunity that exists in the city. I explained in more detail the parking system I had envisioned and believe that although I still think there is some room for improvement, it's still a step up from my first pitch.
https://www.youtube.com/watch?v=GoomI7KsCyE
Hope you guys enjoy!
A reflection from the feedback I received from last pitch
On my last pitch I got a lot of feedback saying that I did indeed acknowledge the problem of parking, but I didn't really delve into the details of my solution. After re-watching my first elevator pitch, I too was able to see this and noticed what they were talking about: I was just beating around the bush.
What did I change?
On this second elevator pitch, the big difference that I worked on was being brief on the introduction, and trying to provide a more thorough explanation of the process I would work on to take advantage of the opportunity that exists in the city. I explained in more detail the parking system I had envisioned and believe that although I still think there is some room for improvement, it's still a step up from my first pitch.
Friday, March 13, 2020
Assignment 16A - What's Your Secret Sauce?
1.) I'm always cracking jokes about the most random stuff and possess the ability to make people laugh.
2.) I am very easy to talk to and personable. People can come to me if they're having problems and I make sure to keep a keen ear out for what they have to say and try to help as best I can.
3.) I am very socially outgoing and am good at starting and holding conversations. I'm able to talk and have nice and meaningful conversation with just about anyone.
3.) I am very socially outgoing and am good at starting and holding conversations. I'm able to talk and have nice and meaningful conversation with just about anyone.
4.) I am very creative in terms of conceptual and abstract thinking. I love solving riddles and playing brain games that challenge my brain since I firmly believe you have got to keep the brain very active daily.
5.) My expansive knowledge about the stock market could be considered human capital. I am very proficient at analyzing trends using a wide array of indicators as well as technical analysis.
Interview 1: My first interview was with my roommate Kevin that I have known since high school. He says that what makes me very different is how outgoing I am and how I can talk to literally anyone with confidence.
Soundcloud link: https://soundcloud.com/user-513397407/interview-1-kevin
Interview 2: My second interview was with my other roommate's girlfriend, Kassandra, who I've known for a bit over a year now. She says that what makes me different is how much of a peoples person I am, how comfortable I am with people, and how naturally smart I am
Soundcloud link: https://soundcloud.com/user-513397407/interview-2-kassandra
Interview 3: My third interview was with my ex-girlfriend, who surprisingly didn't have too many good things to say. She states that one of the things that makes me different is the way I carry myself, how I can talk to literally anything and be entertained.
Soundcloud link: https://soundcloud.com/user-513397407/interview-3-kathleen
Interview 4: My third interview was with one of my fraternity pledge-brothers, Marcos. He states that what makes me different is that I am resourceful and relatable, and that it is very easy to get along with me.
Soundcloud link: https://soundcloud.com/user-513397407/interview-4-marcos
Interview 5: My fifth interview was with another one of my close pledge-brothers. When asked what makes me different, he states that I always do what I want contrary to the norm such as the way I carry myself and dress.
Soundcloud link: https://soundcloud.com/user-513397407/interview-5-jordan
Reflecting on the differences: Based on the five different interviews I conducted, it seems as if people feel the same way about me as I do about myself. Each and every interview at list hit one point that was on my list if not more. The only difference was in my fourth interview, in which Marcos states that I am very relatable and resourceful, which is not a way I've really felt about myself before. Going back to my list in the first part of this assignment, I still would not change anything about my list since I feel like it reflects five key points that sets me apart from other people and that they are all equally true and important.
Thursday, March 12, 2020
Assignment 15A - Figuring Out Buyer Behavior No. 2
The people whom I've interviewed all fall under the segment of college kids who live around campus and have trouble finding parking.
Interview 1: The first individual I interviewed was my roommate, who is a junior at UF and commutes to campus by car. When I asked him about the most important aspects regarding parking in the city, he said that it has to be affordable, widely available, and reliable. He pointed out that the alternative UF decal and nearby neighborhood decals can come at a hefty cost and are often not reliable, although they are widely available. He claims that it is rare to find parking that is quick and easy, and also relatively affordable. When these conditions are met, his opportunity is considered satisfied. He only believes that paying for parking somewhere would only be a bad purchase if he did not find a convenient spot.
Interview 2: My second interview was with my neighbor who also commutes to school by car daily. When asked to pick out of all the available parking alternatives such as the UF decal, Neighborhood parking, or paid parking garage, he claimed that he prefers garage parking simply due to the fact that he is almost guaranteed to find a spot. In contract, the single-floored parking lots for UF decals fill up very rapidly throughout the day and often stay full, forcing people to park even farther away from their destination. He explained that if he were to pick out the most important thing for parking it would have to be reliability since he is always on a time schedule when trying to make it to his classes. When asked what helps him determine if his purchase was a good idea, he says that as long as he is parked close to where he needs to get, then the purchase is a good idea.
Interview 3: The third interview I conducted was with my friend Sean who also drives around the city in a car and has trouble finding parking in many areas such as UF campus, midtown, and downtown. I asked him what matters the most to him when it comes to parking, and he claims that he is satisfied as long as its cheap and easily accessible. He states that alternatives such as university decals and neighborhood parking are just too hard to find and they're not available when he needs them the most. He seemed to be a firm believer that the city needs to improve the parking situation and that he would even be willing to pay more if consistent and reliable parking was provided. For him, as long as he is able to find parking close to where he needs to go, he is satisfied.
Conclusions: After conducting these three interviews, a general trend that I've realized is that people are actually willing to spend money if it means having a reliable means of parking. As such, the most important factors when it comes to parking is reliability, and consistency. A plausible reason for this, especially on campus, is that people are on a time crunch and need to find parking within a certain span of time to avoid being late. For all of these interviews, post purchase behaviors indicated that as long as a convenient spot was acquired, the customer is satisfied.
Interview 1: The first individual I interviewed was my roommate, who is a junior at UF and commutes to campus by car. When I asked him about the most important aspects regarding parking in the city, he said that it has to be affordable, widely available, and reliable. He pointed out that the alternative UF decal and nearby neighborhood decals can come at a hefty cost and are often not reliable, although they are widely available. He claims that it is rare to find parking that is quick and easy, and also relatively affordable. When these conditions are met, his opportunity is considered satisfied. He only believes that paying for parking somewhere would only be a bad purchase if he did not find a convenient spot.
Interview 2: My second interview was with my neighbor who also commutes to school by car daily. When asked to pick out of all the available parking alternatives such as the UF decal, Neighborhood parking, or paid parking garage, he claimed that he prefers garage parking simply due to the fact that he is almost guaranteed to find a spot. In contract, the single-floored parking lots for UF decals fill up very rapidly throughout the day and often stay full, forcing people to park even farther away from their destination. He explained that if he were to pick out the most important thing for parking it would have to be reliability since he is always on a time schedule when trying to make it to his classes. When asked what helps him determine if his purchase was a good idea, he says that as long as he is parked close to where he needs to get, then the purchase is a good idea.
Interview 3: The third interview I conducted was with my friend Sean who also drives around the city in a car and has trouble finding parking in many areas such as UF campus, midtown, and downtown. I asked him what matters the most to him when it comes to parking, and he claims that he is satisfied as long as its cheap and easily accessible. He states that alternatives such as university decals and neighborhood parking are just too hard to find and they're not available when he needs them the most. He seemed to be a firm believer that the city needs to improve the parking situation and that he would even be willing to pay more if consistent and reliable parking was provided. For him, as long as he is able to find parking close to where he needs to go, he is satisfied.
Conclusions: After conducting these three interviews, a general trend that I've realized is that people are actually willing to spend money if it means having a reliable means of parking. As such, the most important factors when it comes to parking is reliability, and consistency. A plausible reason for this, especially on campus, is that people are on a time crunch and need to find parking within a certain span of time to avoid being late. For all of these interviews, post purchase behaviors indicated that as long as a convenient spot was acquired, the customer is satisfied.
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