Venture Concept No. 1

Opportunity.
The opportunity that presented itself for my product was the abundance of scooters here in Gainesville and the insane amount of rain we get here which is part of the reason Gainesville has the nickname "The Swamp". Scooter culture is vast and ever-growing and with that comes a line of different opportunities for products to become successful. I noticed that a vast majority of scooters don't have any sort of cover for them and that most scooters are stored outside. Anyone who owns a scooter understands that if you leave it out for a few days without using it that it will take several tries just to start it up. In the long run this is not good for the scooter, so this is just one of the things that made me realize that scooter covers could and should becomes the norm when owning a scooter. The elements will take a toll on scooters, which would lead to ever increasing maintenance costs. Of course I don't expect students to put the cover on every time they get off the scooter, but perhaps at night or certainly when they know they won't be using it for awhile. The market is defined geographically as basically universities around the nation (starting with the University of Florida) that have scooter culture with the target demographic of course being college students. Eventually I'd hope to have partnerships with scooter dealers to allow scooters to come standard with a weather cover, thus allowing the weather covers to become the "norm". Customers are not currently satisfying the need, unless we define it as maintenance repairs at the local scooter shop. The idea here is to make customers realize that they have a need and then proceed to give them the product that satisfy this need. The opportunity is as big as the the scooter culture around the country. Of course the opportunity can and will lead to other opportunities, so I would argue that the opportunity is enormous. The window of opportunity for this specific product will be open so long as nobody succeeds in making scooter covers the norm. 
Innovation.
Specifically speaking my product is a all purpose weather scooter cover for scooters here in Gainesville. It is made out of a waterproof fabric of sorts and has elastic "waistbands" to fit around the scooter which also allows it to say onto the scooter. It goes over the scooter to protect it from natures elements when stored outside whether it be rain, sun, wind, etc. thus increasing the longevity of the scooter. It works simply by going over the scooter when being used and when it's not being used it folds up and fits comfortably;y into the storage compartment of the scooter. I will make money by having the scooter covers mass produced overseas (sorry USA) to be able to sell them at an affordable price. $25 for a good scooter cover would be my price with a roughly $10-$20 profit margin per scooter cover. If sales are lacking and customers want something of a higher quality and American made, I have no issue with going that direction as well.
Venture Concept.
Customers would undoubtedly switch to my product because there is no current mainstream scooter cover for scooters here in the Swamp. In my case it is not a matter of getting them to switch from one brand to mine, but rather to get the customers to buy into the idea to have a scooter over in the first place. If marketed correctly I do not see this is a particularly difficult challenge. $25 for a scooter cover that will save hundreds of dollars down the road in maintenance is simply logical. The competitors are companies that already have scooter companies, however seeing as they do not have much popularity with scooters here, there isn't too much competition. Location is huge in terms of my scooter covers, because if there are no scooters around, then my product will fail. Thus I will only go to places that have scooter culture, starting here in Gainesville. Customer support is essential to any business, I have to win that battle. I would organize a business to support the continued production of my product having different teams with different departments completing different tasks, with myself overlooking everything. No more than 10 employees are needed to begin with, as we grow as a company, more employees will be hired.
Three minor elements.
My ventures secret sauce is not EXACTLY the product itself, because the product is relatively simple. My "secret sauce" is being able to take advantage of Universities that have scooter culture and market to the college students (who are always looking to save money somehow) with the pitch that makes them think that buying my product is the only logical thing to do. My companies versus my competitors would have the advantage in the marketing game. I will only be located where scooters are abundant, where as most competitors believe the bigger picture is with motorcycles around the country. I'll be able to market my product to the point where everyone that has a scooter also has one of my scooter covers. The net opportunity for the venture is not something I can simply predict out of thin air. Opportunities present themselves as time drags on, but I would argue something dealing with scooters would be the next step for my company. What exactly is next for me? I would not restrict my life as an entrepreneur solely to scooter covers. If I am able to successfully market scooter covers, I do not see why I wouldn't be able to market actual scooters at different universities around the country and even more so around the world.

Amazon Whisperer

For my business, the main method of making money is obviously selling m product which is a oocter cover for scooters here in Gainesville. The next thing my customers might want would possibly be an indirect relationship with scooter companies here. If they buy a scooter it will come with a scooter cover kind of thing. It will enhance my product because it will allow the product to become standard with scooters. The product will move on to become the "norm" and people who don't have scooter covers will realize they should probably have one.

This is similar to what I would think of selling, but with a hefty price tag. The customer reviews are overwhelmingly positive. They like what it does, it's ease of use and of course the quality. They don't like the price. I would design the product to be more specific to scooters and find some way to make them cheaper without compromising quality.

Week 11 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 surprise I had in the reading was that execution of ideas is not the main reason for failure.

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

The general point of everything sort of went over my head, aswell as the fact that when a company lacks some sort of business strategy, specific fields can try to make things cater to them.

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

-How do strategies work for different kinds of businesses?

-How does a business strategy allow a company to win the customer service battle?

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 in the article I disagreed with.

My Unfair Advantage

1. Patience
-V: Valuable in any situation in life
-R: Patience, although well known, I not a very common quality among people, it is rare
-I: Patience cannot be copied, but only self-taught through life experiences
-N: no
2. The ability of seek out opportunity
-V: Valuable as it allows me to take advantage of situations when they arise
-R: Rare because it is a quality of true entrepreneurs
-I: Cannot be copied, but only self taught in very few individuals
-N: No, seizing opportunities is a  quality that is unique to itself
3. Ability to bring people together
-V: Valuable to be able to bring people together, can use it to bring people around a product.
-R: Rare because not many people have the ability to bring people together
-I: Can potentially be copied, by mimicking what I do, however if they don't truly know what they're doing, they'll have difficulties
-N: No
4. Financial backing
-V: I am lucky enough to know people who would be willing to invest in my company
-R: Rare because I know people who have a lot of power and wealth that believe in what I can do
-I: Can be copied if people know the correct thing
-N: No, financial backing is essential to a business
5. People Skills
-V: Valuable because I know how to make people like feel comforted
-R: Not so rare because people can develop people skills relatively easily
-I: Can easily be copied if people just learn how to be nice
-N: No, people skills are essential towards building a business
6. Connection to a market expert
-V: Valuable because it can allow me to seek advice about the market I am in
-R:  Rare, yes because not too many people have a direct connection like this
-I: Can be copied if someone knows the same person
-N: No, nothing can lead to knowledge
7. Creativity
-V: Valuable because it allows you to be diverse
-R: Not rare
-I:  The quality cannot be copied, the process can be
-N: No
8. Time
-V: Valuable because this company will be my career
-R: Time is rare indeed
-I: Cannot be copied
-N: Yes, efficiency can lead to the same results
9. Connection to a supplier
-V: Valuable because it allows me to create my product
-R: Rare, no.
-I: Can be copied
-N: No
10. Connection to a distributor
-V: Valuable because I have places that will sell my product
-R: Rare, not necessarily
-I: Can be copied if someone goes after the same distributor
-N: No

I think the ability to seek out opportunities is my best quality because it allows me to take advantage of situations as I see fit which can only lead to success.

Week 10 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 statement cash flow was slightly confusing but also surprising because it really highlights the fact that in the age of technology we live in, cash is still king.

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

This same thing, the statement of cash flow confused me because supposedly an analysis of cash availability and cash needs shows the efficiency of a company

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

-In the age of rapid technological advancement, will cash remain dominant or will digital currencies take over in the future?

-If an entrepreneur has created a company but has not yet made any sales, how will efficiency be measured?

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

Seeing as the author is the expert on the subject and I have only just been exposed to the new material, there is nothing I thought the author was wrong about.

Elevator Pitch No. 3

The feedback I received from the earlier elevator pitch was overall very helpful. I was told to not be so monotone and seem a little more enthusiastic. I had a problem hitting that minute mark however, so I wonder if there is any tips on lengthening the process out.

Based of the feedback I received, I changed what exactly was said and how I went about saying it. Before it was too long (now its sort of short). I definitely like the constructive criticism for sure.

My Secret Sauce

1) Describe five ways in which you think you have human capital that is truly unique.
-I am very open minded. Unlike many people in the world, I will not discredit you simply because we have different ideas and/or opinions. Tell me your side, if i like it then sweet, if not then I'll use my knowledge to back up my opinion. I try to not be ignorant.
-I have the ability to see opportunities when they arise. I am definitely not the most motivated and driven individual out there. A lot of the time I simply do what I am supposed to do and then proceed to take advantage of a situation when something comes up.
-I am good at giving people advice. I help people during their time of need. I usually know what to say in situations (whether it be some simply drama or something much more serious)
-I have the ability to learn almost anything and become good at it. I understand that practice makes perfect. That goes with anything in life.

-I am truly multicultural. Being half Thai and half American, I have gone through the culture shock many a time when visiting Thailand and understand that the world is a very very big place.


Seeing that all the people that know me the best are not in Gainesville, I texted the 5 people and put out conversations below



 The main takeaway was simply the respect I gained for this person and the knowledge that they have respect for me.It was nice to see nice things being said about me from this person, because all we ever do is joke around.

 

What my friend said here about street smarts reinforces the idea I said about seizing opportunities when I see them. She knows I work my way into positions with less effort than most people, simply because I can see an opportunity and take advantage of it.



What is said here means a lot more than it looks to be. This is my best friend who said this, and there is plenty of backstory and evidence to back up each statement. Makes me happy to know I have a friend like this person, whom I will know for the rest of my life.



This one is from my father. So it truly truly truly means a lot to me. We don't often talk about much besides politics and sports, so this was a nice change of pace. Everything I know and all of my qualities I can thank to that man. 




Arguably one of the smartest people I know. Met him in high school,  we have very similar mindsets when it comes to work so he understand the academic side of me very well.


Reflect on the differences
The way in which I see myself and how others see me is generally very similar. I try to be the same person both inside and out. I would say the interviews are correct about me, because if I do not know who I am, then these people most definitely do. I wouldn't make any "corrections" to my list from part 1. I would simply add to it over time.

Week 9 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? 

Definitely one of the biggest surprises was the fact that companies and corporations still heavily use traditional methods of surveying. I just assumed everything would've been done with technology. 

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

The different philosophies (customer-driven & sales-driven) are independent from one another. I personally don't see how these two couldn't be directly related to each other.

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

-Is social media going to take over marketing anytime soon? Has it made a significant impact?
-In terms of surveys, will companies continue to rely on traditional methods or will they readily switch to using technology?

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 in-particular that the author said that I disagreed with.

Idea Napkin No. 2

1) You.

My name is Anan Samuel Lagana. I am half American half Thai. I'm a freshman here at the University of Florida majoring in Business Administration with a possible goal of a minor in entrepreneurship. Some of my talents include being skilled at tennis, golf, and downhill long boarding. I am able to make connections with people relatively easily. Some of my experiences are working as a sales associate at Brookstone, running a concession stand, and as a Database Systems Administrator at Culinary Systems, Inc. My goals in life can be narrowed down to one thing: being happy. To go into more details, I hope to own my own business (do not like the idea of working in a cube or under someone in a repetitive lifestyle), I hope to have a family of 2-4 kid and a wonderful wife. Hopefully having the financial stability to be able to provide my family with the life is accustomed to, making sure my parents are good to go, and of course loving what I do. If I started a business regarding scooter covers, I would without a doubt expand it to deal with more things. Whether it is becoming a scooter dealer or having more innovative products in similar industries. It would completely change my life.

2) What are you offering to customers?

An all purpose weather cover for scooters here in Gainesville and places they have major public transit for vehicles. They protect against the elements for scooters stored outside, thus increasing the longevity of the scooter.

3) Who are you offering it to?

Expanding on the original idea, a vast majority of my customers are still college students. However I recieved feedback to expand to cities with major public transportation. Even overseas. For example, in Thailand there are many places where scooters vastly outnumber cars. So there is a good market there.

4) Why do they care?

Customers will pay money for my product because they spent a minimum $1000 on a brand new scooter and they'll want to protect their investment. If my product can ensure that the scooter will last longer, then customers will be willing to pay it.

5) What are your core competencies?

With weather covers already in existence, I will win out with reliability, price and ease of use. I have the ability to talk to scooter owners and dealers in regards to scooters.

The elements go together relatively well however there is one aspect of my product I need to solve. How do I prevent the covers from getting stolen? Or make them cheap enough to the point where if they are stolen, people won't fret over buying another one. Aside from that everything falls into place. There are scooters in Gainesville, there aren't many scooter covers.

Feedback Memo

The feedback I received on the first Idea napkin was 100% positive. Therefore there was nothing I had to drastically change with my idea. However, the feedback got me thinking about how I could expand the idea to more places. One person suggested expanding to cities with major public transit and such. While I would have to research the city and its respective demographics, this helped my think even bigger. I came to realize that I was restricting myself to only thinking about the United States. I am half Thai and I have been to Thailand over 15 times. Any who has been there knows that motorcycles and scooters are HUGE there. Boom. Prime market. Ultimately the feedback was positive and reinforced my idea was ha