Assignment 30A - Final Reflection

My most formative experience was determining different needs and formulating a complete venture idea. Before this class I never thought about what issues I would want to fix as an entrepreneur. My most joyous experience was finally deciding on what product to create for my idea, because I was struggling to come up with something I was interested in. I'm proud of myself for staying on top of the assignments for this class because there were a lot of them and I am not the biggest fan of online classes.

I feel that I have moved closer to developing an entrepreneurial mindset after going through the class. Before, I only had broads ideas of what an entrepreneur might go through, but now I feel that I have more of a complete understanding of what it means to be an entrepreneur and how to accomplish related goals.

If I could make one recommendation it would be to create a schedule for the assignments. Some assignments obviously take longer than others, but set aside a portion of the week to get everything done so you can stay on top of everything. To perform best in the class you just need to do the assignments. You cover many different topics of entrepreneurship and you gain a lot of knowledge as you go through the class. To help foster the entrepreneurial mindset, students need to have that drive to learn. These assignments can be completed and you can still learn nothing if you're not trying to get anything out them. By having that desire to learn and drive to better yourself, you could get tons of knowledge from this class.

  

Assignment 28A - My Exit Strategy

Exit Strategy/Why I Chose It: 

• Within the next 5 years I plan to sell the business for a large return. I feel that the idea/product could be better utilized by a larger company with better manufacturing and marketing abilities. With their resources they could transform the portable fish/depth finder and help I can take the product to new heights. The return that I gained from the company could possibly be reinvest in another project or put the return into a fund and use it for retirement as I start my business career. 

Exit Strategy Influences: 

• This exit strategy has not influenced how I identified an opportunity. I feel that I started off with intentions of making this product the best out in the market, but I realized that it is hard to compete with a lot of these big companies that are well established. Picking the strategy I did has influenced me to take the return and work to reinvest the earnings. It has influenced me to think ahead to the future and do what's best for me.  

Assignment 27A - Reading Reflection No.3

The Long Tail: Why the Future of Business is Selling Less of More, Chris Anderson

General Theme:

• The general theme of this book is that popular items aren't as successful as they used to be once everything became available via the Internet. The Internet has allowed for an enormous number of products to be sold, because there is no shelf limit as to what a company can hold online. Popular items sold before the Internet accounted for a large amount of revenue, but today these "hits" will not account for as much revenue as they used to. Anderson is arguing over the importance of selling large amounts of items with smaller demand because these items still matter. Although the top items still account for a large amount of money, we can't neglect the mass number of items still bringing in a good amount of revenue.

How did it Connect With the Class?:

• The idea of present times changing and adapting to these changes can be a connection with the class. Entrepreneurs must be able to adapt their businesses with the times and take advantage of the changes. Also, broadening your thinking is important. If we are only looking for "hit" ideas, or ones that will make an extreme amount of money, then we may miss the abundant amount of ideas that may still bring in profit, but not as much as the "hits".

Exercise Based on the Reading:

• An exercise could be identifying businesses that haven't aged well as technology continues to improve. Looking at how these companies failed because they couldn't adapt with technology could be an interesting exercise, or you could identify companies that have aged well with technology and have thrived because of their changes. This could show students the benefits of being able to adapt, and maybe give some ideas to students for their own businesses for a path to follow.

The "aha" Moment:

• I chose this book because I wasn't sure what to expect from the name, it caught my attention. I wasn't familiar with the term long-tail, but after reading his message it all made sense. The idea is something we don't often think about, or take for granted, but technology has changed businesses a lot. Being so young, I take for granted being able to purchase nearly everything online, when 20-30 years ago things were much more different. It was a good book overall, it really made me think.

Assignment 26A - Celebrating Failure

Past Failure This Semester:

• This was a unique failure that I experienced this semester. I say unique because nearly the entire class I was in experienced the same issue. In my risk class we were all given individual codes for a simulation program and we were given multiple assignments over the semester. Sounds straightforward, and it was, until the class ran into an issue. We failed to get the program to work properly. The program would randomly not work for nearly everyone in the class. No matter how many times we tried redownloading the program or working towards fixing bugs, the program just wouldn't work. It was very mentally draining, and the professor didn't offer much assistance at all. It was a time where I felt like giving up on the whole program, but eventually after working together with classmates we figured out how to solve the issue. It took some technical knowledge and emailing the creator of the program to figure out what was wrong with it, and how to solve the issue that had been present for weeks.

What I Learned From the Failure: 

• This failure was frustrating to me, because I needed to rely on my limited computer knowledge to solve an issue. On the other hand, the beauty of this failure is that I wasn't the only one struggling. so I had people to offer a hand and pick me up. This isn't an emotional failure or one of super importance, but it taught me that there will be times when other people around me are struggling with the same issues and being able to be there to offer/receive support is key for overcoming failure.  

Reflection: 

• Teamwork is often a necessity for overcoming failure. We often hear about individuals overcoming a big challenge, such as Thomas Edison with the lightbulb, but there are many cases of overcoming failure as a team. I experienced this semester that getting to know people and establishing connections can be very beneficial, because you never know when you'll need someone to be there for you. Also, failure doesn't define who you are. We all have strengths and weaknesses, and that's why we are stronger if we work together instead of always dealing with challenges individually. 

Assignment 25A - What's Next?

What's Next In My Venture

• I do not believe that changing the technology or anything that drastic should be done moving forward, unless the product didn't work. After giving it some thought, I feel that the next logical move would be to improve the app that is connected to the device. I haven't put too much thought into the app yet, as the product would still need to be created. I do feel that the app has a lot of potential, and I think it would be nice to be able to store the information you received from the device and if you could share locations with other anglers. Lastly, being able to upload pictures of the fish anglers catch, along with the location could be useful information and cool if you could share them with other anglers.

Interviews

• The first angler I interviewed didn't talk too much. What I gathered from the interview is that he wasn't too sure of what I could do next. He mentioned that just getting the product out would be the first logical step, and he agreed that the app adjustments would be smart. 
• The next angler I interviewed said it would be interesting if I made a non-portable sonar next, like the ones you find on the bigger boats. I personally do not feel that this is a good idea, because there is so much competition already present. He didn't have much to say about the app idea. He was just more concerned with the product working.
• The last angler I interviewed didn't have too many great ideas for what to do next, He mentioned advertising some different ways, but they were a little far-fetched. When I talked about improvements to the app, he liked most of the ideas. He said he wouldn't like the location sharing, because people want to keep their fishing spots to themselves, so they don't become over fished. 

Next Step In the Existing Market

• Other than finding some new ways to advertise the product, the interviews were not all that useful. I believe that the changes to the app seem like a good idea, and I believe that the changes will be beneficial. I will have to look into the location sharing aspect a bit more, but overall, I think it'll be some good changes. 
• Next, I could conduct some interviews to see what kind of changes and adjustments people would like to see within the app. Also, I could conduct more interviews to see if people had any other ideas for the existing market, because the individuals who I interviewed did not have many ideas.

New Market

• A radically new market I could target would be a sonar system for divers or snorkelers. I could create a device that will give them a general idea of what's down in the water before they go in themselves. I haven't done too much research on the area, and there may be plenty of products out there already. I just figured it's a new market, and it sounds like it could be an interesting idea. I'm not sure what specific information the sonar could pick up or would need to pick up for a diver, I would have to look more into it. 

Interviews

• I have some friends that are marine science majors, so I interviewed them. After interviewing both I understood that the device I'm proposing wouldn't be necessary in diving. They both said that sonar isn't used too often, because places people dive are often known. My first friend was saying that for deeper dives they're going to use specialized technology, and that would be a tough market to get into. Also, my other friend was saying that sonar might be used in underwater archaeology, but she wasn't too confident on that. 

Next Step in the New Market

• While conducting the interviews I found that creating a sonar device for diving or snorkeling would not be a great idea because sonar isn't used that often. Divers often practice on well-known locations or areas which have something important. If divers are looking for something important for research or just to practice, then more than likely they will not look for an area which is unknown and will need sonar. 
• Underwater archaeology was mentioned in the interviews and it sounds like an interesting market, but I think the technology may be too complicated. Archaeologist are going to extreme depths in many cases and that will take even more expertise to build a device to handle that. I am still trying to figure out how to get my portable device built first, so creating a new device is not the main priority. Overall, the market does not seem as attractive as I initially imagined.

Assignment 24A - Venture Concept No.1

Opportunity

• Fishing is a huge recreational and commercial activity around the world. Many people with different backgrounds and cultures partake in fishing daily, using many different techniques. As simple as it seems, fishing requires patience and it can often lead to frustration for many anglers if they are not catching anything. There are many factors which affect fish behavior, and this is why fishing can be so difficult if you do not have a lot of experience. The need that is present is that people often do not know where to fish or what structures lies on the bottom of a body of water. 
• The market of customers which I am trying to reach are anglers who fish fairly often and would like to take advantage of portable sonar technology to make their fishing experiences more successful. The target audience will range from ages 16 to mid 30's, because these customers may not have enough capital to get their own upper tier boat with expensive sonar technology, yet they still fish often and would like to have some technology available to them. Sonar technology is current available to solve this need, but currently it is fairly expensive and most attach directly to upper tier fishing boats on a center console or on a mount. Most of the portable sonars that are out in the market currently are not castable, and they have a wire attached to them and must be dropped down manually.
• For the customers currently with the more expensive sonar technology, I feel that they are loyal because the technology works. With my product being castable I am trying to tap into a separate market for anglers with canoes, small boats, or anglers without boats. With a new market there are many unknowns, so I cannot say for sure how big the opportunity will be. 
• The "window" of opportunity is also unknown. A new product like this could come into the market at any time and take over. With the product still being developed, it does leave room for competition to develop a product and come into the mix and take some of the market away. 

Innovation

• This castable fish and depth finder is a portable sonar fishing device that can be cast from a fishing rod, like an artificial bait or lure. You can then cast the device in any section of the water which you believe may be a good fishing spot. This sonar technology will be able to tell the angler the depth of the body of water, what structure and/or vegetation is nearby, and if there are large pockets of fish within range and where they are located. The information is sent directly to the user's phone through Bluetooth, and the data is displayed on the corresponding app for the device. Any experienced angler knows the importance of these factors while fishing and having this sonar technology present gives the opportunity for all potential anglers to have sonar access, regardless if you have a boat or not. Currently, the only way to successfully utilize sonar is on a large enough boat, which many anglers do not have access to, nor the money to purchase the sonar technology. The device we are creating will be small, so it is portable, and it will be much less expensive than the current sonar technology which can be found for up to a few thousand dollars. I plan on selling the product online, but the focus will be selling the product in stores. I feel that by allowing anglers to get their hands on the product and seeing for themselves how it works, will be a great selling point. In my interviews I conducted, most people within the target audience mentioned they do most of their shopping in stores, so they can compare products and see their quality before they make a purchase. 

Venture Concept

• I've already described earlier how the innovation will solve the opportunity and why the customers would want to buy the product. Having a successful day of fishing can really brighten up an angler's day, and if my product can help accomplish that and help to limit unsuccessful fishing days, then I can feel good about the product. I do not believe getting customers to switch to this product is the problem. This product is unique, and it targets an audience which currently doesn't have the access this product can give. With that being said, there are some competitors, but not directly. The other sonar technology available differs from this product, but they still are competitors. The more expensive sonar technology is already established and has a loyal customer base. I am looking to target those anglers without large boats which capable of having that technology, and currently in the market there are some products which could pose some competition. The main difference between those products and mine is that those products are not castable. They usually have a wire, or something attached to them and this limits the functionality and use of the product. Selling my product in stores is important to me, as I mentioned earlier. There are anglers everywhere, but if I had to target areas specifically, I would place product in areas where fishing is more common. I would need employees to help with creating the technology, marketing the product, distributing the product, and to help deal with selling the product online. 

Three Minor Elements

• My "unfair advantage" is the uniqueness of the product. There isn't something like this product right now, and to keep the competition from copying the idea I could patent the sonar technology I create, but that isn't a guarantee that someone could make something similar. 
• The next venture would to get the product created and tested. As of now, I only have an idea. Creating the product and displaying it to potential investors would be next.
• Assuming I launched, I would love for this product to at least be sold around the U.S and being used frequently by anglers. In the next decade I would love to see the product go global, and still be a frequently used tool by anglers. Also, I would like to create many more products by this time and hopefully have an established brand with a lot of loyal customers. This first venture would help me a lot by getting my name out there and showing what I am capable of. 

Assignment 23A - Your Venture's Unfair Adventure

1. Fishing Experience/Knowledge.
• Valuable: Very valuable, as this knowledge helps understanding the needs of anglers and what they look for in a product.
• Rare: Not very rare, many people have it. 
• Inimitable: Not that hard to copy. Nearly anyone can get fishing knowledge.
• Non-Substitutable: I could get someone else with experience/knowledge for the product.  
2. Ability to talk with anglers about the product and their needs.
• Valuable: Very valuable, because the more knowledge you have about your audience the better.
• Rare: Not vary rare, but still nice to have.
• Inimitable: Not that hard to copy. There are anglers all over that anyone could talk to.
• Non-Substitutable: I could have someone do a survey or talk to anglers. So it's sort of substitutable. 
3.   Having friends and family who fish in tournaments and fish casually around the south.
• Valuable: Kind of valuable as they can help spread the word in this area to anglers, or advertise the product on their boats.
• Rare: Not that rare, but not super common either.
• Inimitable: If you have people you know that could help advertise then you could copy this. 
• Non-Substitutable: I'm sure you could substitute the advertising somehow by finding a similar audience.
4.   Having the energy to help the product grow.
• Valuable: Very valuable. I am young and have the energy and drive to get things done.
• Rare: Not that rare, but still useful.
• Inimitable: Anyone could copy it if they are healthy and willing to do so.
• Non-Substitutable: Hard to substitute being young, but anyone at any age could have the same energy or drive if they pushed hard enough.
5.  Connections within the FFA (Future Farmers of America).
• Valuable: Can be valuable, as many people within agriculture partake in fishing, and it could be a good market to advertise to.
• Rare: Not that common, but not super rare either due to the organization being so large. 
• Inimitable: If someone has connections within the organization they could copy it.
• Non-Substitutable: There are other organizations which are similar that could be marketed to.
6.  The product is fairly niche.
• Valuable: Very valuable because it leaves the market pretty open.
• Rare: Very rare. There's many ideas/products like it. 
• Inimitable: If someone had to technology they could potentially take the idea.
• Non-Substitutable: I don't think there is a great substitution that is portable. Other products have some flaws/limitations. 
7.  Access to communicate with companies and important individuals through the internet. 
• Valuable: Can be valuable if they respond positively and are willing to help.
• Rare: Not rare at all.
• Inimitable: Can be copied easily by others.
• Non-Substitutable: I could communicate with them through other ways.
8.  Good financial standing which can allow for loans.
• Valuable: Can be valuable for a starting company or business. 
• Rare: Not very rare.
• Inimitable: It can be copied, but it's hard if you're in bad financial standing currently.
• Non-Substitutable: Not really another substitute unless I just get a lot of capital from a different source. 
9.  I am a very social person.
• Valuable: Can be valuable when trying to market the business and talking with potential investors.
• Rare: Not very rare, there are a lot of social people.
• Inimitable: Can be copied by people, it's not that hard.
• Non-Substitutable: Not sure if you can replace being social. It's one of those traits where either you have it or you do not.
10.  I am a very patient person.
• Valuable: Can be valuable when dealing with a product or business. Not everything happens in a day.
• Rare: Not that rare at all.
• Inimitable: Someone could copy how much patience I have, or how I handle certain situations.
• Non-Substitutable: I don't know if you can substitute patience. Either you have it or you do not.  

After conducting the VRIN analysis, I believe my top resource is the uniqueness of my product. I feel that it's more important than my other resources because it is very valuable. Having a unique product can open up a new market and can end up being very lucrative if it is successful. Being a unique product speaks for itself on the rarity. I feel that the product could be copied by others if the technology isn't patented, but we hope to create a product that's so great that it will outshine any imitators. There also isn't a great substitute on the market that has the mobility and the ease of this product which makes it so unique and great. 

Assignment 22A - Elevator Pitch No.3

Reflection/What I changed: I tried to smile more this time and I fixed the camera angle. I had to put a chair on top on the dining room table, so that's the best I can offer. It ended taking away from the hand gestures because it was so high, but you win some and you lose some. I changed up the script a little, and I feel the end was lacking, but that's because there is still a lot of unknowns I am dealing with. It's hard to pitch a product that hasn't been created yet. Overall, I think I liked the second pitch more, but it is what it is. There's still more research and work that needs to be put in on this project before I feel that I can properly pitch it. But I am enthusiastic about the product and truly believe it can help with a need that is present.

Assignment 21A - Reading Reflection No. 2

How to Fail at Almost Everything and Still Win Big, Scott Adams

General Theme/Argument: The title truly speaks for itself. The book was a memoir about Scott Adams, who created Dilbert comic strip. His story tells us about his constant losses until eventually he found success. Scott spent a large portion of his career working a corporate job, and eventually he created a multi-million dollar comic strip company. Some of the main points he talked about were figuring out the price to success and paying it, making sure you take time to care for yourself and do what gives you personal energy/motivation to achieve what you want. He also made a point to build systems in your life instead of setting goals, because goals tend to have flaws while systems allows yourself to make adjustments.

Connection With the Class: The connection with the class I found was that to find success you're going to have to ultimately pursue it. Opportunity doesn't always fall in your lap, so if you want to achieve something big it comes with a price and you must be willing to put in the work it get it. He also made a good point in that you should take advantage of things you're good at. Identify your skills and utilize those to your advantage with jobs and other aspects of your life. 

Designed Exercise: I would create an exercise where students write down their strengths and what jobs could utilize those strengths. Also, I would have the students try to convert there goals into systems like Adams mentioned, because goals can have flaws. One flaw he mentioned was that goals are very specific, so it can lead to disappointment even if what you accomplish is close to the goal. 

The 'aha' Moment: What surprised me was how much Adams emphasized personal health and energy. Adams made it clear that taking care of your body and getting enough sleep is key. Eating healthy and exercising are also important and he mentioned that you need to find something in your life that motivates you and helps to get you up in the morning with some energy. I honestly was expecting just a broad point about putting in hard work and failing a bunch until it works out, but Adams had different ideas. He surprised me and I did enjoy his story. 

Assignment 20A - Growing Your Social Capital

Domain Expert: 

• Who they are: Jason, works for Garmin and deals with their fishing sonars. He didn't give much personal information. 
• How I found the person: I found him through the Garmin website. I wanted to pick a company that also dealt with sonars in the fishing industry. I emailed him through their website to get contact, and we exchanged a few emails. 
• The nature of the exchange: I told him that I was a student at UF and about my idea and he expressed some positive feedback. He made it clear that because he working with another company there isn't much he can really do, other than give some advice. He did not create the company, but he just knows a lot about the technology. He told me that starting would tough because a lot of technology has patents and Garmin has been in the industry for awhile. So creating a whole new system is a tough task, without the assistance of technology experts. he did not expect anything in return.
• How can they help my opportunity: I feel like Jason can help me by offering more advice in the future. Due to him working for another sonar company there isn't too much he can do but that. 

Market Expert:

• Who they are: Marsha, works with marketing through Bass Pro in their fishing/hunting department. 
• How I found the person: Again, I found this person through the Bass Pro website. She is not the head of marketing or anything high up, but she does have knowledge on the subject. It took emailing a few other people until I finally got in contact with her. 
• The nature of the exchange: She offered me some good advice, mostly stuff we have already covered such as looking into buyer behavior and conducting interviews. She was saying it'll be tough to identify a market for a product that hasn't been created yet or finalized. She did mention that for a lot products in the outdoor market a lot of the purchases are made through word-of-mouth or people often look for established brands. It's tough for new brands to enter because people tend to buy what they're used to or what they grew up with. In the case of sonar it's a bit different because it's fairly new, so she said a lot of research would need to be conducted. She did not expect anything in return.
• How can they help my opportunity: She said to contact her again if I had any more questions, and that she was happy to help. There was a lot of good advice, although the news wasn't that great about the marketing. 

Important Supplier:

• Who they are: Mr.Ron, or Ronald, is my friends uncle. He helped create a small fishing tackle company in Florida. They are currently selling to local shops, and are working to get in contact with bigger companies such as Bass Pro and Gander Outdoors. 
• How I found the person: Through my friend I've known for awhile. We grew up together and he put me in contact with his uncle.
• The nature of the exchange: We were able to talk on the phone a bit, and he was very friendly. He told me a bit about the nature of getting in contact with these bigger companies, and how with everything in life it's all about who you know. Creating connections is key, and you've got to be always working and perfecting your product. He offered great advice, and said I am always welcome to contact him again if I had any questions. He did not expect anything in return. 
• How can they help my opportunity: With his knowledge on getting fishing products to stores and with his contacts with these stores, it could help me to get my product in these places when it is created and finalized. 

Reflection: Networking is all about who you know and how willing you are to reach out to other people. You cannot fear rejection, because if they do not respond or say no, then you're not any worse off than you were before. You can't let the fear of rejection hold you back from getting where you want to be in life. This differed from my other networking experiences in the past, because this time I needed to reach people in higher places. It took some time, but perseverance pays off. 

Assignment 19A - Idea Napkin No. 2

1) You - My name is Brevyn Foreman, and I am student at the University of Florida currently seeking a Master of Agribusiness degree. Growing up in central Florida, where fishing is huge, I have seen the positive impacts that recreational fishing can have on individuals. I have been fishing since I was a young boy and it has always been a huge passion of mine. My aspirations for this idea of a portable depth finder is that the product will be inexpensive enough so that people of all economic standing can obtain the device and that the product works effectively and there is a large demand for it. I want the device to become available to everyone who fishes so they can experience a great day of fishing and retain their interest in the activity. 

2) What are you offering to customers? - I am offering a product that will allow the user to utilize a castable sonar device which can determine the location of fish, if there is vegetation, and the depth of the body of water that that is being fished. The device will be wireless and it will be able to be tied to any fishing line like an artificial bait is. Once tied to a fishing line, the device can be cast out and it will send the sonar information back to the users phone through Bluetooth. There are currently sonar fishing devices available for boats, but they are very expensive and not castable. With the device being castable, it allows the angler to target specific areas of the body of water without moving the boat and it gives sonar access to anglers who are fishing from the shore.

3) Who are you offering it to? - There are plenty of anglers who fish on boats without fish finders and anglers that fish from the shore that would love to be able to determine where to locate certain fish, and this is who the product is targeting. I am wanting the product to be available for people of all economic standing, but to truly target my audience I would say mostly males, ages 16-35, who go fishing during their free time or on weekends. I feel that this is a large proportion of people who are very serious about fishing and would utilize a product like this. This audience would most likely be middle class, and they would do most of their shopping in stores so they can visualize and test the product. The audience is very hands on, and they spend most of their times outdoors as they grew up hunting, camping, and or fishing with close friends or family.

4) Why do they care? - Any experienced angler knows the importance of a fish and depth finder. Fishing is a very complex activity, because fish have very sporadic behavior. They have different movement behavior and feeding behavior based on the time of day, the weather, the temperature, the season, and many more factors. Being able to target fish through sonar and having the ability to identify where ledges or drop-offs are located in a body of water is critical, because these are often areas where large fish hide and wait to ambush prey, making it an ideal spot to fish. Without sonar it is near impossible to locate these areas unless you have prior knowledge about the body of water that you are fishing. Without sonar you are essentially "fishing blind", and anglers would care about this product because it would offer a fairly inexpensive method to identify important/productive fishing areas, regardless if they have a boat or not. "Fishing blind" can be quite frustrating, as it can lead to hours on end without getting even a single bite. This device will help improve people's fishing experiences by revealing key fishing areas and showing areas where many fish are located. 

5) What are your core competencies? - There are a few other products that are considered portable depth/fish finders, but they usually have a wire attached to a device and must be dropped and pulled in manually by an individual. This is not only inconvenient, but it also disallows anglers who are fishing on the shoreline to utilize the device because it cannot be thrown very far by hand. The device I created is castable, and it links to an individuals phone with a very easy to read user friendly app that displays the sonar information. And also because it's castable, it makes the device easy to retrieve because it can be reeled in. The app on the phone would also allow users to save certain locations (longitude and latitude) they find while fishing, so they can save them and come back to fish them later.

Evaluation: I believe most of the elements work well together. I feel that price of the device and the target audience are very key aspects. I feel that I have done a better job of identifying the target audience and as an angler I know the need is there for a product like that, because growing up I would have loved a product like this. My biggest issue now is developing the product. This will take a large amount of capital, and capable engineers. To really grow the product more, the sonar, Bluetooth, and the app all need to working together in harmony without a hitch. This will require gaining some connections with large companies, but I believe they will show similar interest in the product when they are introduced. 

Feedback Memo: I received some good feedback, and the two main takeaways I received were about the manufacturing and the target audience. The manufacturing is still up in the air because it will take a lot of capital to get the ball rolling to produce this capital. On the other hand, I feel that I now have a better sense of the target audience. I included a few changes here and there to the idea napkin, mostly talking about the manufacturing and the target audience. Other than that, a lot of the ideas were pretty similar on the topic areas I felt more confident about. 

Assignment 17A - Elevator Pitch No.2

Reflection on the feedback:

I got a few comments on the lighting so I am hoping this pitch was a bit better. My house is pretty dim, so this was the brightest place I could find. I think it turned out a bit better. The angle is still pretty low, but it's the highest place I could find in the room so you win some and you lose some. I also received feedback on not grabbing the audiences attention in the beginning of the pitch, and trying to seem a bit more excited about things.

What I changed:

The lighting improved hopefully, and I tried to add a bit of a hook to the pitch and be a bit more energetic. I've always gotten feedback on smiling a bit more when speaking, but most of the time I am too focused on what I am saying to smile. It's something I am working on, so hopefully it'll come around eventually. I am genuinely excited about the topic, it just might not show.

Assignment 18A - Create a Customer Avatar

Prototypical Customer:

• ~25 years old male, but feels younger and ready for adventure and great outdoor experiences.
• Loves to fish whenever possible, mostly on the weekends due to work.
• Drives a gray truck to haul his boat.
• He loves sports and outdoor shows.
• Grew up hunting and fishing with his family.
• He feels youthful and wants to fish, explore, and enjoy the outside.
• No kids at the moment, but if he did he would take them fishing when they're old enough.

Commonality:

• I am also a male and I love fishing. I also love watching sports and outdoor shows. I do not have any kids either. I do not own a truck, but one day that is the goal and I hope to get a boat. I would love to fish most weekends, but simply do not have the time with school.
• I do not think it is a coincidence we have a lot in common, because I am basing my product off of an issue that I personally have faced. I made this avatar reflect who I feel would be the biggest target audience.  

Assignment #15 - Figuring Out Buyer Behavior No.2

Findings:

My first interview was with a male student at UF who goes fishing during most breaks and occasionally on weekends. He was interested in the product, but said that an actual purchase would depend on a few factors. He said the price was very important because of the possibility of losing the device. He was saying it could get snagged or your line can break and the device would be lost. He was saying style isn't a huge deal, but quality is probably the biggest concern. He made it clear that no matter how inexpensive the product was, if it didn't work he wouldn't buy it.

The second interview I conducted was pretty similar. The woman interviewed grew up fishing with her dad. She was saying the style of the device and app truly wouldn't matter. Due to the device being so niche it would be understandable if it had a high price. She made made it clear that quality of the product was the most important thing, because no matter the uniqueness or the price it all depends on if the product works. Both this interview and the first interview made it clear that they would purchase the device in a store instead of online because they would like to see it before making a decision. Also, ensuring the device works is what would decide whether the purchase was good or not.

The last interview conducted was with a male in his early 30's. He goes fishing on most weekends and was interested in the product. He also made clear that the quality of the device was very important. What was different from this interview was that he said that the price isn't a very big deal, but the style could play a big role. He was also saying how it should be easy to distinguish what the device is saying and how it should be easy to read the results. He also said that he would purchase the device online as long as the reviews were of the product were good. To determine if it was a good purchase or not he said if the device can last a year or so then it would be a good purchase.

From all the interviews I understand that the quality of the product is definitely a key factor in buyer behavior. Price and style both matter, but they do not play as big of a role as quality. This leads me to believe that I would need to put extra time in when designing and creating the device/app. Ensuring the product can last and it can function properly is key before releasing the product. Also, it seems that there is a customer base for store and online purchases. Before I worry about that though, making sure the device works and can continue to work for a good amount of time is the biggest priority.

Assignment #13 - Reading Reflection No.1

The Wright Brothers, by David McCullough

1)

• What surprised you the most? - What surprised me the most was that the brothers accomplished something never done before. I believe we take for granted the ability to fly across the world and having the ability to travel nearly anywhere in about a day. They were some of the pioneers of flying and their control inventions helped to make a fixed-wing powered flight possible.

• What about the entrepreneur did you admire the most? - I admired that both brothers were both knowledgeable without going to college. Imagine engineering something that would eventually change the world, and you did it without a college education. Also, I thought it was really cool how they brought what they were passionate about (bicycles) and used their knowledge to help assist them when they were creating flight designs.

• What about the entrepreneur did you least admire? - What I admired the least about the brothers is that they did not display a lot of emotion. Maybe it was the way the author portrayed them, but it was just hard to fully understand the brothers reality and how they felt as they went through their failures and successes.

• Did the entrepreneur encounter adversity and failure? If so, what did they do about it? - Yes, the brothers had many designs that failed, but they never gave up. They were very smart and great mechanically, so they would analyze what went wrong on their attempts and they would learn from the mistakes and fix them.

2) What competencies did you notice that the entrepreneur exhibited? - I noticed that each brother had their own strengths and weaknesses. They exhibited the ability to lift each other up and rely on one another's strengths to help each other where they showed weakness. I have a brother of my own, so I understand a bit what the brothers went though. Having a family bond and knowing you can rely on each other is essential, and that is a huge reason why I believe they were successful.

3) Identify at least one part of the reading that was confusing to you. - Most parts about the designs, structure, and engineering were all slightly confusing. I understood them a bit, but there were parts where it got a little nerdy and went over my head. I do not have an engineering background, but I can understand a bit and appreciate what they did.

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why? - I would ask them if they believed people would ever get to the moon and to outer space? I would ask this, because they helped to solve something many people believed couldn't be accomplished, such as travelling to the moon. Lastly, I would ask them if they believed they would have the same success if they were working together, but they were not brothers. This is just out of curiosity.

5) For fun: What do you think the entrepreneur's opinion was of hard work? Do you share that opinion? - Their opinion of hard work was to just get it done. They traveled far to gather interests in their work, although they didn't have connections in high places when they started. They failed multiple times, but kept grinding and finding solutions. I do share this opinion, and I feel that it is something that should be shared by all people. Putting in a ton of work is most of the time the key to being successful in whatever you do.

Assignment #14 - Halfway Reflection

1) To keep up with the course I have just used my off days to focus on the course. The course is pretty time consuming with the assignments, so you have to dedicate a certain block of time to it. The class really makes you brainstorm to come up with ideas, so you have to be very open minded and always thinking of new ideas. I found myself going throughout my days and thinking about buyer behavior, new products, and markets, etc. To be successful, I used my own experiences and needs and applied that to my assignments which tended to help a lot.

2) A lot of these assignments are long, and most of the time I do not want to do them. To answer the question, yes, there have been plenty of times where I did not want to do an assignment and give up. The class is very time consuming and I could be using my time elsewhere for other classes, but I need an elective so I need to pass this class. What pushes me through is the thought of graduating and getting my Master's degree so I can be done, and start my career. I feel like I have developed a tenacious attitude in the past two months because I haven't missed an assignment.

3) Three tips I would offer about: Fostering the skills that support tenacity, and developing the "tenacious mindset".

• I would say just push through and stick with doing the work, even if you don't feel like it because passing and getting good grades is important.
• Stay ahead of the assignments and have great time management. 
• Use your past experiences and think of your own problems that you face and work to solve them in the course. That can help to keep it interesting and help you to stay focused. 

Assignment 12A - Figuring Out Buyer Behavior

1) Pick a Segment - For my product, the portable fish/depth finder, the segment I am choosing is younger anglers (ages ~16 - 30) of a all economic standing. I am choosing this segment because I feel that younger anglers spend a lot of time fishing, and although they do not have money necessarily to buy an expensive boat with a nice depth/fisher attachment, the need may still be there to locate fish. The first individual I interviewed was a an early 20's male, who fishes nearly every weekend. The second individual was a young ~18 year old male who fishes often, but mostly on the shore. The last person interviewed was in his late 20's and was a father who goes fishing often with his kids.

2) My Interviews -

• Interview 1: When I was talking to the ~20 year old man, he told me that he loves to fish, but can only really go on the weekends. Due to work it is nearly impossible to find fishing time during the week. The man said he does have a tiny Jon boat that he takes fishing on the weekends. He often visits lakes around the Alachua area, but his preferred locations are a bit further down south. The man expressed his frustrations with slow fishing days and the uncertainty that comes with fishing new large bodies of water. He showed interest in the idea of a depth/fish finder, but has been hesitant in purchasing one because the products for his boat type are "complicated" and seem a bit cheap. The man felt that a device that doesn't have to attach to the boat seems nice, but he also expressed concern with breaking it or losing it when casting. He said his need obviously occurs when he's fishing, but particularly in new bodies of water. If he does't know the area too well, he feels that having a depth/fish finder would be a huge asset. When asked what information he looked up to research, he said he went to a few fishing stores and asked employees and also a few of his fishing friends.

• Interview 2: The next individual I interviewed was a teenage male, who fishes often but does not have a boat. He told me that he has been fishing in the Alachua area for awhile, and he expressed the difficulty that comes with fishing from shorelines. He mentioned how its difficult to see a lot of obstacles in the water and also how it's tough to identify where the fish hang out. He said he realized he had a need for something like a depth/fish finder when he would go hours on end at a spot and not catch anything. He feels that a depth/fish finder would help a lot, but he only thought they could be used on boats. He looked a few up devices online, but did not find a product that could help him. He said he never found anything feasible he could use on the shore, because he didn't know something like the device existed. He said he would definitely be interested in a product like a castable depth/fish finder if it actually worked, if it was priced fairly, and if it wasn't easy to lose in the water. 

• Interview 3: The last individual I interviewed was a male in his late 20's that goes fishing occasionally with his kids. He said occasionally he borrows his friend's boat to fish, and sometimes they will just go and fish the shore of random lakes. When asked if he ever had the need for a depth/fish finder he said yes, but because he doesn't own the boat he feels that he wouldn't spend a ton of money investing in one. There were multiple times where he took the kids out to fish and they would get bored quickly, because they weren't catching anything. I mentioned the idea of a portable fish/depth finder that could be casted and he was very interested in the idea. He felt that it would be a great thing to have when fishing with the kids on the boat and the shore, but he was concerned about losing it in the water. He told me how often the kids lose their baits while fishing, and that it could be a bit concerning. By the end he said it is an interesting product, and felt that it provides good utility for an issue that probably many people face. He talked a bit about pricing and also the use of the app. He was concerned with bringing his phone on a boat and getting it wet, and how the device would connect to the phone.

3) Findings - Talking to the individuals I interviewed I found that there are young anglers who do find themselves with a need for a portable fish/depth finder. I found that most of the young anglers are interested in the product because they are usually shore fishing or they have a boat without a depth/fish finder on it. What I found is that a lot of these people look up some similar products to fill the need, or they talk to people in a store or friends, but they had no idea there was a product like this in the market. There was concerned expressed about the price of the device, and also the functionality with the Bluetooth and the app. All concerns aside, they thought the idea was cool and they were interested in it. 

4) Conclusion - I feel like I picked a good segment, because young anglers spend a good amount of time fishing, yet they do not always super nice boats with fish/depth finder on them. Many of the young anglers fish on the shore, and this product is great for that. As long as the product is fairly priced and it functions well I feel it could be successful if marketed properly, but there's one big question mark on the device if it can actually be created.

Assignment 11A - Idea Napkin No. 1 - Portable Depth/Fish Finder

1) You - My name is Brevyn Foreman, and I am student at the University of Florida currently seeking a Master of Agribusiness degree. Growing up in central Florida, where fishing is huge, I have seen the positive impacts that recreational fishing can have on individuals. I have been fishing since I was a young boy and it has always been a huge passion of mine. My aspirations for this idea of a portable depth finder is that the product will be inexpensive enough so that people of all economic standing can obtain the device and that the product works effectively and there is a large demand for it.

2) What are you offering to customers? - I am offering a product that will allow the user to utilize a castable sonar device which can determine the location of fish and the depth of the body of water that that is being fished. The device will be wireless and it will be able to be tied to any fishing line like an artificial bait is. Once tied to a fishing line, the device can be cast out and it will send the sonar information back to the users phone through Bluetooth. There are currently sonar fishing devices available for boats, but they are very expensive and not castable. With the device being castable, it allows the angler to target specific areas of the body of water without moving the boat and it gives sonar access to anglers who are fishing from the shore.

3) Who are you offering it to? - There are plenty of anglers who fish on boats without fish finders and anglers that fish from the shore that would love to be able to determine where to locate certain fish, and this is who the product is targeting. There is a need while fishing to know the depth of a body of water and where fish are located. Although you can still catch fish without sonar, any experienced angler knows how important this information is and how it can lead to a successful day of fishing. I am hoping to make the device fairly inexpensive so people of all economic standing can have access to the device.

4) Why do they care? - Any experienced angler knows the importance of a fish and depth finder. Fishing is a very complex activity, because fish have very sporadic behavior. They have different movement behavior and feeding behavior based on the time of day, the weather, the temperature, the season, and many more factors. Being able to target fish through sonar and having the ability to identify where ledges or drop-offs are located in a body of water is critical, because these are often areas where large fish hide and wait to ambush prey, making it an ideal spot to fish. Without sonar it is near impossible to locate these areas unless you have prior knowledge about the body of water that you are fishing. Anglers would care about this product because it would offer a fairly inexpensive method to identify important/productive fishing areas, regardless if they have a boat or not. Without sonar anglers are basically fishing in the dark, and if you've fished before you know how frustrating it can be to go hours on end without getting even a single bite. This device will help improve people's fishing experiences by revealing key fishing areas and showing areas where many fish are located.

5) What are your core competencies? - There are a few other products that are considered portable depth/fish finders, but they usually have a wire attached to a device and must be dropped and pulled in manually by an individual. This is not only inconvenient, but it also disallows anglers who are fishing on the shoreline to utilize the device because it cannot be thrown very far by hand. The device I created is castable, and it links to an individuals phone with a very easy to read user friendly app that displays the sonar information. And also because it's castable, it makes the device easy to retrieve because it can be reeled in. The app on the phone would also allow users to save certain locations (longitude and latitude) they find while fishing, so they can save them and come back to fish them later.

Evaluation: I believe most of the elements work well together. I feel that price of the device and the target audience are very key aspects that still need to be a bit more well defined to get a better sense of the idea. As an angler I know the need is there, because growing up I would have loved a product like this, but doing some more research and interviews is definitely important. To really grow the product more, the sonar, Bluetooth, and the app all need to working together in harmony without a hitch, and this will require some very technical and precise work. Also, the marketing and areas where the product will be sold are key because this could make or break any product. This will require gaining some connections with large companies, but I believe they will show positivity when they are introduced to the product.

Elevator Pitch - Portable Fishing Depth Finder

Assignment 9A - Testing the Hypothesis, Part 2

It came to my attention from a classmate's response to one of previous blogs that the idea of a parking app was already spoken about by Professor Pryor, and he said the costs to accomplish this are too high and the University of Florida has already rejected similar proposals. This idea came to my mind before ever watching the lecture and I did not realize he said this, so for the sake of things I will just continue the idea for the assignment and in the future I may come up with a potential way to avoid these huge costs and find a way to make the app successful.

Who: Based on two interviews with a female and male student on campus they both separately brought up a good point that I heard from the last set of interviews, and they said that people who have been driving to campus know the parking areas pretty well and have a good idea of when parking is and is not available. They felt the app might be better suited for students who are new to campus or for people who are visiting. Another good point that was brought up is the price of the app. A different female student that I interviewed brought up the costs of the app, as she said some people may be hesitant to purchase an app like this because more than likely it will be fairly high priced and people have already spend so much on decals and just life. She also asked if it would have a one time cost, or would there be timely payments so you only pay when you're in school or just visiting for the day. A faculty member that I spoke with mentioned that parents may be difficult to convince to get the app. If they are visiting their children they are usually told by the student which places they can probably park and which lots will most likely be open. The faculty I interviewed also mentioned that she's seen parents just park wherever and oftentimes they will get tickets. Due to the available parking being so far away or the available lots being full, the parents will often just park wherever available.

What: When I asked the individuals what they felt is the real issue with parking I got one response from the first female whom I interviewed that really stood out to me. She mentioned that parking is basically an issue everywhere, and if you really waited to find a spot you could. The issue isn't always finding a spot, she said a big problem is finding parking close to where you need to be. She gave an example in a nutshell, "If I need to get to Library West, and the only parking I can find is on Frat Row that would mean I have to walk over a mile or so to get there if I don't bus. At that point I might as well just bus because I won't find close parking". I believe the problem of finding parking on campus is still a big issue, but she brought up a good point that even if you find parking it is not always convenient.

Why: After the interviews I felt that the need of the outsiders' was not necessarily different. Parking is still difficult to find, but students/individuals who have dealt with it for awhile have adjusted and learned to cope with it. The app isn't creating new parking, it is more providing information to individuals who are not used to the situation.

Inside the Boundary                                          Outside the Boundary

Who: Newer students not used to campus                        Students who have been parking on campus 

           parking.                                                                   for awhile.

          Individuals who may be visiting for                        Visiting Parents/family.

          awhile and are planning to be away from

          their vehicles.                                                           Experienced faculty/staff.

          Visitors for large events on campus.                        Individuals who don't want to spend money 

                                                                                           on something so niche/luxury.

What: A service for parking                                              A way to increase parking.

            Information on where you can and                         A way to make the parking areas more

            can't park.                                                                convenient for you. 

Why: Everyone who drives to campus needs                    With experience, you learn the ins-and-outs 

           to park their vehicle somewhere.                             of parking on campus.

          Parking on campus is competitive.                          

Assingment 8A - Solving The Problem

I talked a bit about my product on assignment 7A, and what I am planning to sell is an app for your phone that will be used to assist in parking on college campuses. The app will relay information to the user that will tell them which parking spaces are open for specific lots. The app will also allow the user to input if they have a decal or not, and the app will give corresponding information to what lots they can and cannot park at and during what time. Also included in what products I will be selling, is the sensor technology for the app. A sensor needs to be created that will be able to be placed into outside parking lots and also parking garages that can withstand all types of weather without getting messed up. The sensor will know if a car is parked in a spot or if the spot is available.

I am planning on selling the app to anyone who deals with vehicle parking on college campuses (scooter lots not included). This could be students, faculty, staff, parents, and all kinds of visitors. The sensor technology will be placed on college campuses, so the customer would have to be who is in charge for parking/high authorities on the college campuses. If these products works well on college campuses I am hoping to move forward and sell these products to other large areas like those that hold sporting events and other large events.

Assignment 7A - Testing the Hypothesis, Part 1

Opportunity: College Campus Parking App

Parking on college campuses can be a nightmare, as most lots are generally full and it can be difficult to determine what areas you can and can't park at and during which times. I've seen parking garages in larger cities that tell you how many spots are available on each floor. If there was a way to utilize these sensors on parking areas in and outside parking garages and send the data to an app then the idea could work. I am proposing the idea of an app that will let the individual user know what parking spot is available to them during a given time by having sensors in parking areas that will tell the app if the spot is available or currently taken. By letting the app know if you have a certain decal or do not have a decal it should be able to tell the user which parking lots and spots are available to them at the current time. 

• Who: Colleges professors, students, parents, faculty, and all types of visitors who come to college campuses
• What: Finding parking on college campuses
• Why: Finding parking on college campuses can often be difficult because many people drive to campus and have to put their cars somewhere

Testing the Who: This need is bigger than college campuses. In many big cities parking can be nearly impossible, and people who visit these places are often confused of where they can and cannot park. Anyone who has a car potentially has been in a situation where they couldn't find parking or they weren't sure if they could park in a spot without being towed. 

 

Testing the What: I don't believe the app needs to cover every single parking space, because obviously that seems impossible. I feel that the app could work for large popular areas, such as college campuses, large sporting event areas, large city parking lots, and a few other large areas.

Testing the Why: As long as we still have cars, parking will more than likely be an issue because people need to get to certain places. I feel that this opportunity will continue to exist and that's why I feel it can be exploited. I feel that an app is a good way to approach this opportunity, because technology is continuing to grow and many people have access to it in someway. 

Interview #1 - UF student, early 20's female, 2nd year student

When asked about parking on campus, she expressed difficulty with the matter. She said she only drives when she absolutely has to. The idea of the app got a good response and she said she would love it if it could actually be a thing. She said she has used the parking garages before that let you know how many spots are left and she says they can often be misleading or incorrect. She liked the idea and said she would be interested in the app if it worked properly. Also, she felt that if it could work at UF then it definitely had potential to be used in other large areas. 

Interview #2 - UF employee at the Reitz, 30-40's male

The man interviewed said parking can get pretty crazy, but because he comes to work early it generally is not a problem. He did acknowledge the issue though, and thought the app was a neat idea. He personally said he would not use it for UF, but said there is potential for other large areas if the technology actually worked. He said he is not a big tech guy, so the app would need to be very simple to use. 

Interview #3 - UF student, early 20's male, 3rd year student

He went on for a bit about how frustrating parking on campus can be and how he is often late to class. He said there's been times where hes circled a lot for 20-30 minutes and not even found a spot. He says he has resorted to using the bus a bit, but the route doesn't come by very frequently. He said if the app could actually work and was reliable he would definitely look into it. He also expressed a cost concern, because he felt that an app that useful would have to be fairly pricey. He expressed a similar reaction to the others who were interviewed in that if the technology was reliable then it could for certain be used elsewhere in larger areas. One concern he had though was that the technology may be delayed and by the time you go a spot that you think is open then it might be taken by someone.

Interview #4 - UF teacher's assistant, female

She said she's been dealing with parking at UF for just over 3 years, and she has a decent understanding on when and when not to drive. If she has to get to campus early she will drive, otherwise she said she rides the bus. She said her first year at UF was a nightmare to find parking and she was often confused about which spots she could park at. She felt the app was cool, but said it would be difficult to actually accomplish and difficult for the school to allow you to use them to make money. She was uncertain about how the technology would work outside and if it would be affected by weather or other factors. Overall, she felt it was a good idea and could potentially be used in larger ares, but suggested to test the technology on smaller areas and perfecting it before moving forward. 

Interview #5 - UF student, early 20's female, 1st year student

She said that she uses a scooter to get campus and says that parking can occasionally be difficult, but people just cram their scooters into spots and create room. She said the app would be a good idea, but wasn't sure if it could be used for scooters because there is not defined spots. She doesn't think she would use the app unless she has a car, and she mentioned that the car parking does seems a bit hectic and confusing. She liked the idea and felt that enough people would probably use it. She thought highly the idea of using the technology and app in other large areas, she was just a bit concerned of the technology being accurate and not having a huge delay with the data. 

What I learned: I learned the app has potential and that people think highly of the app. I also learned students, staff, and faculty would potentially be interested in the app, but it depends how often they drive to campus. I feel that the opportunity is there for college campuses (well at least UF), but only if the technology is accurate, durable to weather and doesn't have huge delays in sending parking data. Getting the technology to accomplish this seems a bit of a daunting task, but with the brains and technology I've seen today I know it is possible to do. The opportunity is for sure bigger than just college campuses as many of the people interviewed thought highly of the technology moving to other large areas if it is reliable and not crazy expensive. Lastly, I'm not sure how it would be accomplished, but campuses and areas would have to allow the technology to be implemented. Maybe if they received a bit of compensation then they would jump on board.