Week 8 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The section "Dispelling Venture Capital Myths" was pretty surprising. I thought it was interesting that the text pointed out that venture capitalists invest in good ideas and good management, not just good ideas. I also thought it was surprising that venture capitalists will generally avoid investing unless the returns are very high. 

2) Identify at least one part of the reading that was confusing to you.

The section "Equity Financing" was confusing to me. I am not entirely familiar with many of the technical terms mentioned in the section so I wasn't able to gain much usable entrepreneurial knowledge from reading that section.

3) If you were able to ask two questions to the author, what would you ask? Why?

Do you think that the advantages outweigh the disadvantages for debt financing?

    

Which factors do you think are most critical for venture capitalists to use in the evaluation of new       ventures?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

The author claims that venture capital firms do not want to own control of your company and tell you how to run the business. I am hesitant to think, however, that venture capitalists do not have solely their own financial interests in mind when making an investment. I would take everything a venture capitalist says with a grain of salt.

Half-way Reflection

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

Refraining from procrastinating is very helpful in this course because you will increase your chances of finishing the more difficult assignments before their deadline. I have also embraced talking to strangers on campus a little more because of some of the requirements of our assignments.

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

Our first few assignments that required a video were definitely extremely difficult to do. I missed a deadline for two or three assignments early in the semester but I have gotten more familiar with the course and have gotten much better at these assignments. Watching my classmates' videos on their blogs was very helpful in giving me an initial idea of how to approach doing certain video assignments such as the interviews. I have definitely developed a tenacious attitude during the past two months. I have noticed improvements my time-management and also thoroughly enjoy some of the video assignments such as "Free Money" and the "Elevator Pitch" because they make you go out of your comfort zone. 

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

     a) If you miss an assignment or two, don't get down on yourself. Instead try and          make up some points on yellow-dig. 

     b) Plan ahead and give yourself a few days to do the video/audio recording                  assignments.

     c) Don't get discouraged if you are having trouble doing an assignment that requires      a recording. Continue talking to people and you will be surprised how quickly you        can get assignments done once you get the hang of it.

     

Week 7 Reading Reflection

What surprised me the most was how non demographic segmentation has rapidly replaced demographic segmentation to the point that demographic segmentation is sometimes no longer a very effective way of segmenting markets. I thought certain demographic characteristics such as age and gender would be better indicators of customer preferences than non demographic ones. I was a little confused about how non demographic segmentation has come on so quickly in recent decades. I wasn't sure why this type of effective segmentation wasn't developed by earlier marketers. If I could ask a question I would ask which type of segmentation strategy Yankelovich & Meer think was most effective at certain points in history. Another question I would ask is how Yankelovich & Meer think technology will impact market segmentation over the next several decades. I think this is an extremely important factor in shaping market segmentation and would love to hear some of their thoughts. I didn't really disagree on any major points and I feel like the examples provided were very detailed and relevant.

Free Money

1) I will walk around UF campus

2) I will approach UF students as they are walking through campus and/or listening to music with headphones.

3) I decided that I will approach these students on campus saying "Hey, I am giving away a free dollar if you say GO GATORS on camera."

4) I don't really have a long plan for the conversation. I will start with my opening statement and hope to keep the exchange short and sweet while making sure to not mention it is for a class.

5) Out of five dollar bills I was able to give away 4. However, one of the four people pushed the conversation so far to the point I had to say it was for a club for her to do it.

This exercise was probably my favorite one so far. I enjoy going out of my shell and this exercise definitely makes you confront people in a way that you normally wouldn't around campus. I probably need to work on my camera angle for future video exercises to be sure to get the persons full body in the video for the majority of the video. I will definitely work out that kink for future reference but I am hesitant to use a 3rd person as a cameraman because I enjoy the spontaneity of doing it firsthand. Giving away the dollar was actually a lot harder than I anticipated. Girls, especially, were a bit hesitant to take free money from a random boy which I found very humorous. I did not really make any assumptions about the people I planned to talk to besides them being UF students on campus.

I also thought it would be interesting to do an extra video and give away a free dollar to someone who was single. So I've also included a video of that for entertainment's sake. Enjoy!

Elevator Pitch No. 2

Unfortunately, the comments on my elevator pitch no. 1 were more of praise for my opportunity rather than advice on how to give a better second pitch. The comments I received gave me confidence that I am on the right track with my pitching as well as my opportunity. I was surprised by some of the feedback I received acknowledging the global water crisis. Many people denounce it as a major issue but we can see that even in the US places like Flint, Michigan are dealing with major clean water issues.

My pitch is very similar to my first pitch but I did want to make sure to emphasize this time that only parts of the Dominican Republic suffer heavily because of this issue, not the entire nation.

Week 6 Reading Reflection

1) What was the biggest surprise for you in the reading?

I was surprised by the author’s point describing how a fast-growing industry does not necessarily guarantee success. I would initially think that a fast-growing industry would be very successful and I’d be curious to hear more examples disproving this.

2) Identify at least one part of the reading that was confusing to you.

The section describing threat of entry described expected retaliation as an indicator of whether or not a firm chooses to enter or stay out of an industry. I found this confusing at first and didn’t previously think of it as a possible threat to entry into an industry.

3) I would ask the author

a) How he views government interference in industries?

b) When is a fast-growing industry not a good thing?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

There was nothing that I necessarily disagreed with in the article. It provided a lot of insight into how all of the factors collectively influence an industry.  The article contained more support and detail than some of our past textbook readings, which I appreciated.

Idea Napkin No. 1

1) My name is Joey Carrillo. I am Cuban and I was born and raised in Miami before coming to UF. I speak both English and Spanish and enjoy playing the guitar. I also love nature and athletic activity. I am always ready to joke around and I love meeting new people. I also pride myself in being able to work hard when needed. These qualities are helpful in enjoying a trip to the Dominican Republic with BLUE. BLUE is a nonprofit organization that I first brought to my high school. I led my first trip in the summer of 2016 before my freshman summer b. From the moment I became a leader in the organization I embraced it as my own. My aspiration is to  gather UF students to begin the UF chapter of BLUE so that we can go on our first BLUE@UF trip to the Dominican next year which I will be leading.

2) BLUE's goal is to provide clean drinking water/faucets to poor communities' homes in parts of the Dominican Republic for the very first time. The trip would be next upcoming summer for about 7-10 days. BLUE trips are an incredible immersion experience in which 15-20 young american adults work hand in hand with dozens of locals to complete the water project. Three meals are provided daily in the cost of the trip as well as flight costs and sleeping arrangements. Once more in-depth stages of my opportunity begin to unfold, I will be able to provide detailed packing lists as far as what clothing, footwear, and miscellaneous gear would be beneficial. Lastly, considering that we can not drink the local water, we have sponsorships that provide us with dozens of 5 gallon purified water jugs for the trip.

3) My ideal customers are ages 18-24. Really, anyone in UF undergraduate or graduate programs would be a primary customer. BLUE trips are an exciting and exhausting cultural experience. Spending a week living more simply is an eye-opening experience for many sheltered americans (like myself) but also requires you to be healthy and in relatively good shape. This, along with the fact that our age group is open to multicultural experiences, makes 18-24 year olds my primary customers.

4) I have already gotten dozens of friends and family involved in our organization and it is really inspiring to see the lasting impact that our trips have on high school and college students. By participating in a BLUE service trip you're not only doing community service, but also making so many lasting memories with both your peers and the locals. Moreover, while the trip is exhausting and some of our time is spent either hiking or shoveling, there is PLENTY of time for play, relaxation, mediation, cultural immersion, meeting local children, you name it! Toward the end of the trip we may even go to a nearby beach and/or waterfall. BLUE is a service organization but my experiences have definitely felt like a vacation looking back on it.

5) I have the experience of going on two BLUE trips already and leading one of them. I have the resources in place for my fellow gators to participate on a trip co-led by me and enjoy it to the fullest. I am bilingual which helps me communicate with the local workers in spanish. However, I have friends that speak zero spanish and have had an incredible experience with the locals on BLUE trips as well. 

While I have a clear definition of my opportunity, it is a bit complex so it is hard to describe without speaking directly with a customer and/or showing pictures and videos. Thus, my response to number 2 may leave certain customers still asking questions about what exactly my opportunity is and what it provides for them. Hopefully with some feedback I will be able to refine my descriptions of my opportunity so that customers can get an even better understanding of what BLUE has to offer. Other than that, I feel like I have a clear target audience and great support base to reach my goal of having a BLUE@UF trip next year.

Week 5 Reading Reflection

        The biggest surprise for me in the reading would probably be  the "Why New Ventures Fail" section. I didn't really think about factors such as poor timing could cause a new venture to fail even if it is a good business idea. After the reading, I now understand more of the factors that affect  the success of a new business venture.
        The section about profile analysis and the feasibility criteria approach was a bit confusing to read. It gave a good overview of the ways to analyze the internal strengths and weaknesses that exist in a new venture but a specific example or two would have given me a clearer understanding. One question that I would ask the author would be "do you think that the feasibility criteria approach or the comprehensive feasibility approach more effective?" A second question I would ask is "Which factor do you think is most important to the success of a new business venture?"
         I don't necessarily think that the author was wrong about anything in this chapter but I would have liked to have seen more support for the section called "Ignorance of Legal Issues." The author stated that businesses and start ups must abide by legal requirements to be successful but did not go into much detail at all describing this.

Elevator Pitch No. 1

       
          The global water crisis is a huge issue around the world. Many of us even put it near the top of our list of the world's biggest problems. Millions of people in less developed countries around the world do not have clean drinking water in their communities and homes. However, clean drinking water should be accessible for every person on earth.
        BLUE Missions is an organization that is aiming to fix the global water crisis. BLUE takes college students on service trips to the Dominican Republic to help provide communities with clean water faucets and aqueducts for the first time. Make sure to visit our website www.bluemissions.org if you're interested in volunteering or to help spread awareness!

Every drop counts, THINK BLUE!