Final Reflection -- 30A

Throughout this course I have been faced with many challenges in creating a business idea I felt was actually decent and relevant in todays market to modern consumers. I think this was a key in defining my most formative experience from the class considering I eventually did start to feel like my idea was solid and could be a real business, not just for the sake of the course.

My most formative experience were definitely the ones where we had to go out and talk to people about our business idea, taking what they had to say or any suggestions and applying them back to our business idea for further improvement. This was challenging, yet worth it, as I feel that a business idea without consumer input will fall flat and that was a key component in me finding value in the work we did this semester and the business product we had as a result. Not only did talking to those people do that, but it also helped me with communicating my ideas and incorporating feedback in to make it better, which is critical in almost every field of real world work.

While I did feel challenged during this semester, I think it was rewarding in the end. I didn't really think I would finish this course feeling like I had a grip on what it would take to actually be an entrepreneur and start a business from scratch, but through all the blog post and assignments, I now feel like I really understand the process an entrepreneur goes through to an extent. The questioning and refining, it's tedious but I can see why it is necessary to be so thorough throughout the entire process of crafting the idea for any business, product or service.

My recommendation to future students for success in this course is to stay on top of the work -- don't procrastinate! Also, think outside of the box from the beginning and really find a business idea or market to tap into that you genuinely have an interest in. Resonating with the problem you are trying to solve will make the experience feel more fun and relevant. By doing this, you will make the most of the semester and subject, learning skills that will carry you not only as an entrepreneur but in any career.

Venture Concept No. 2 -- 29A

Opportunity -- Glow Facial Bar

• There is currently not a specialized business specific to the facial or skin care market, creating an opening for fast, efficient skin-care only services.
• The global skin care products market size is valued at $134.8 billion and is only projected to expand. With the high popularity of skin care, a specialized service business catering to facials and skin care services will tap into the already established market. 
• Skin in general is a huge insecurity and priority for many people, though without the right practices, products and guidance, consumers are hard pressed to establish professional level skin care from their own home. 
• With that being said, Glow Facial Bar, capitalizes on the trend set by other sole-service powerhouses, like the Dry Bar, catering to one market and doing it at an appealing price with the convenience of not having to go to a full-fledged spa.
• The market for this opportunity is defined traditionally by women ages 18-40 but I don't think it should be limited to gender or age, as it could appeal to men as well and any age really. With that being said, I think this facial bar would be most popular with women of that age demographic. 
• Customers are currently satisfying their need by getting their facials or skin care services completed at a spa when they have the extra time or money available. More likely though, I think most of my potential customers are not seeking professional services at all considering the gap in the market. To replace their lack of professional services, potential customers are most likely supplementing with at-home skincare products. There is a sort of loyalty to at home services or a professional a customer is comfortable with but overall I think they could be swayed considering there really aren't very many alternatives to be loyal to. 
• Potential customers: Mostly women ages 18-40, not limited to men. I will target services to women but through the service menu and promotional opportunities, I will capitalize on how to incorporate men with a tailored male facial service on the menu in addition to couples deals, etc. 

Innovation

• The business I came up with to meet the demand and gaping need in the skin-care service industry is Glow Facial Bar, similar to that of Dry Bar, which caters to a blow out and style for your hair market. 
• The facial bar will offer specialized services of varying types of facials. 
• It would be membership-based in addition to welcoming of walk-in or appointment clients. The memberships would offer more perks, like package deal discounts, private offers, group offers, etc. Glow Facial Bar is a true experience from the moment a client walks in the door to the moment they leave. 
• This means the atmosphere, options and deals create the perfect ambiance to ensure clients will return to and want to spread the word about through social media and their friends commending its quality and prices, uniqueness and trendiness.
• Profits will come from the services themselves, in addition to products and alcohol being sold on location. Additionally, membership packages or fees will produce profit as well.

Venture Concept

• My innovation will accommodate this open gap in the market of an already successful industry by presenting a service of the facial bar to a customer base that has limited options. 
• Again, customers will use Glow Facial Bar due to the lack of another alternative, in addition to the experience factor and convenience of the quality facial without the high price tag or hassle of a full-fledged spa.
• Customers with already established estheticians or favorite salons will switch to my service because of its access, overall experience, appeal, quality and lack of competitors for a paralleled service that Glow Facial Bar will offer. 
• Pricing is extremely crucial because my business is offering an expenditure that is more of a luxury, however, I am targeting my prices to make them affordable and accessible so that clients can create a maintenance routine of coming into the facial bar, much like a woman gets her nails done consistently, she could use the facial bar as another maintenance point.
• Customer service is also really important, considering the facial bar will be wholly client-based and cater to a unique experience, our employees will be trained to make each client and service be special and centered to a particular client's needs. A key part of establishing this high customer service and clientele will be through building our social media following, launching campaigns to show how tailored to each customer our service truly is to create that consistent clientele.
• I think starting small with the number of employees will be a main proponent of early success in the business in order to accurately match the clientele, menu of services, and amount of clientele. Starting small and growing our business along with our clientele is the most logical so that we don't overuse funds. 

Three Minor Elements

• My most important resource and my declared unfair advantage truly is that there is not really another business catering to this market. With the proven success and prevalence of skincare and maintenance for beauty in general, this is what will drive customers to try out Glow Facial Bar and hopefully return. Being able to hone my business in a market of limited alternatives will leave my customers not having much to compare it too, which in essence will allow the quality, pricing and purpose of my business idea to speak for itself and establish the clients.
• What's next for my facial bar is to find people willing to invest in Glow in efforts to get it off the ground. These investors will have to be the right fit and truly understand the vision and appeal of what the business could be not only right now or in the near future, but longterm perhaps expanding into multiple locations or even our own line of skincare.
• What's next for me personally, if I would continue on with this business idea, would probably be to refine my plan for the business and identify whether I see this going the distance as my sole career or if I would be okay growing it to a profitable point to sell and then start from scratch again on another path.

Feedback

• My feedback on my last Venture Concept was generally positive. All of the feedback really commended my idea and identified the attention it could attract due to the similar success of express hair services in addition to the lack of competition. I also had a comment that suggested this idea might take a while to get off the ground, so I adjusted to find a solution to work ahead and build a following leading up to the opening and after through social media campaigns. I definitely read through my last Venture Concept as well on my own and refined my ideas in terms of why my business idea is unique and a draw to a potential market. I additionally adjusted my market after I decided to incorporate service central and targeted to men on my service menu in order to hopeful expand my client target market and in turn drive more profit. 

Your Exit Strategy -- 28A

I think it is hard to definitively say whether I would sell my business in 5 years or keep it more long-term. I would say it would all depend on the status of the business -- should it turn enough profit and be hitting a stride in 5 years time then no, it would probably not be the best financial decision to sell the business. However, I think there are other factors to consider as well such as longevity, mental state in terms of your relationship with the business, etc. I am not personally super attached to the business idea so keeping it for a family business sake is not really something I would consider. I think the most realistic exit strategy is to plan on selling at a certain point that it makes the most financial sense, whether that be 5, 7 or even 10 years -- as long as the deal is right.

I have selected this strategy because as a child of an entrepreneur who has owned and sold several businesses, I see the tole it takes on an owner -- mentally, family wise, etc. The sacrifices are vast and it comes to a point where it is hard to find joy in the same thing you once did, but the profit and financials have to be in order to step away confidently, which I have learned from my business-owner father.

My exit strategy has influenced certain aspects of my decision-making during the development of my idea through these prompts. For example, I think my natural venture progression would be to start selling products made and housed specific to my facial bar, but this would only be a good move should I see some sort of longevity within the business instead of viewing it as a short-term startup that I would sell off quickly after starting.

Reading Reflection No. 3 -- 27A

The Art of Social Media: Power Tips for Power Users by Guy Kawasaki

1) The general theme of The Art of Social Media: Power Tips for Power Users by Guy Kawasaki is how to master social media and get the most out of platforms, giving tips, tricks and insights to aid a reader's social media growth.

2) I think this book relates greatly to the modern idea of entrepreneurship and running a business considering how large of an element social media and networking, advertising and marketing through popular platforms is at the root of a successful idea or business.

3) If I could design an exercise for this class based on this book, the exercise would be to research a social media platform (Facebook, Twitter, Instagram, Snapchat, YouTube, etc.) and figure out how vast the reach of one is to an audience. Additionally, I would have students select a viral social media moment or campaign from the last 5 years, researching/understanding what made it so viral and what the effects of the vitality did for the user, business, etc.

4) One "aha" moment I had while reading this book was within one of the lessons from the book: to pick two social media platforms and reach your audience through those by doing cross-platform content. With so many social media platforms prevalent to users today, it would be very overwhelming and nearly impossible to maintain and use them all at the same frequency. Thus focusing on two would allow you to produce better quality content.

Celebrating Failure -- 26A

1) As a journalism major, I am constantly pursuing story ideas. This semester I am in a course which requires me to get stories published with WUFT News, UF's news outlet run in the College of Journalism and Communications. The level of difficulty is increased in this course due to the fact that our story ideas must be news in a certain county or zip code. My initial story ideas were not on par and I experienced failure right off the bat, even considering I put in a ton of effort to come up with them. I had to go back to the drawing board in efforts to actually produce a newsworthy story after failing with my first round of ideas.

2) After this, I didn't have much time to turnaround and produce quality story ideas, however, I knew it was what I had to do. Thus, I had to start from scratch and approach my assignment and potential stories from a fresh, different perspective. I started looking for stories in other places and changing my approach to finding news central to the area and outlet. This taught me that oftentimes I need to step back, change my approach to something and think outside of the box in order to produce the most quality outcome.

3) Failure, for me, is particularly difficult. As someone with a hard work ethic who applies a lot of pressure on myself, failure can feel, at times, like I am falling apart. However, as emotionally stressful as this failure is, it often subsides and creates a fire under me to retry whatever I failed at and exceed the established expectation. This portion of failure is rewarding and the upside to being so emotionally prone to failure. For me, nothing can be more motivating the urge to redeem myself or not fail again or even to not fail in the first place, but this wouldn't have been my mindset had I not experienced so many important failures.

What's Next? -- 25A

Existing Market

Step 1 --
After creating enough of a clientele through memberships and consistent customers, I think expanding into a more in-depth brand and business would be the next move. This could include Glow Facial Bar partnering with a cosmetics company or skincare brand to sell products in our location that are recommended by estheticians. Additionally, I think the next step would be taking the exclusivity and accessibility to another level by offering a travel facialist that will go directly to certain clients that want a more private experience. Again, both of these options would provide a greater presence with our clients and further our business and brand.

Step 2 --
I interviewed three women of varying ages in the Gainesville area. The women exemplified my target market. Based on the questions I asked and responses they gave, they all agreed selling products or offering in-home services seem to be like a natural next step once Glow Facial Bar turns a profit and establishes a consistent clientele. They agreed that the experience overall would be a big pulling factor to return and that having complimentary cocktails or other perks included in memberships would definitely be a better incentive and would only enhance the  experience. Two of them definitely thought I should target my advertising and marketing on social media and word-of-mouth in order to reach my target demographic, as that is where most people find new businesses to try.

Step 3 --
After my interviews I felt like I was really on the same page as my potential and targeted customers based on the three I had interviewed. Social media was one of the biggest, more prevalent topics of discussion which I knew would be a large part of my advertising/marketing, but speaking with the women opened my eyes further to just how much weight they put on social media and online personas when they are considering spending money on something.

New Market

Step 1 -- My target market, as I have previously identified, is women ages 18-~40. While age is not really a main limitation for my service, if I had to state a cut-off age I think it would be around 40. A radically different market I could target could be males in their 20s.

Step 2 -- While they aren't my main target market, I think males could be a minority customer market for Glow Facial Bar, but they might be hard to reach using the same strategies that I would for my current target market. I think I could create value for males in their 20s or 30s within my venture concept by executing a few small strategies that would make Glow Facial Bar seem more inclusive for men to the outside eye. I think running specials specifically targeted to males or even creating a special package for couples could be a solid idea to bring males into my business.

Step 3 --
My interviewees all concluded social media would still be a great way to reach a male audience. However, they did agree it would be more of a challenge to not only reach them but also get them wanting to actually come in to Glow Facial Bar. One of my interviewees mentioned incorporating a men's-centric facial to the service menu that way it would feel more inclusive. Another interviewee mentioned couple specials, like I originally thought of that way women and men can bring their significant others and share the experience while also establishing new clientele and further success.

Step 4 --
     I learned a lot while diving into my new market. I knew males could always be a part of my customer base but I wasn't sure just how vast it could be and how I could reach them and build the male clientele to that point. I realized that while it will be a challenge to tap into both male and female markets, it is definitely a possibility.
     I was surprised the most at the amount of ways I could incorporate male-driven strategies into the business plan in order to make Glow Facial Spa more inclusive to both genders. I think my interviewee who suggested a male-centered facial on the service menu was spot on and a new idea I hadn't considered. Whereas, for specials and boo deals for couples I thought of but didn't know it was a solid idea until I was able to confirm it with my interviewees.
     While I don't think the male audience is as attractive and large to me as the female driven market, I do think I could establish a solid male clientele which is something I really didn't think prior to this assignment.
 

Venture Concept No. 1 -- 24A

Opportunity -- Glow Facial Bar

• Who has the need? People who need my service are people who care about skincare and desire to get regular facial services but do not necessarily have the time or budget to go to the spa each time.
• Nature of the need: This need can be described as wanting to get skincare services but not go to a spa each time. A customer in this market wants to get facials at a trendy, unique place with great prices and availability.
• What forces create this opportunity? This opportunity is created by the fact that skincare is a leading insecurity and care for people around the world. The skin care industry is also extremely profitable leading many potential customers to desire skincare services from a professional when at-home skincare just isn't cutting it. The problem is that not everyone has the time or budget to hit the spa whenever they choose. This paired with the success of other sole-service businesses, like Dry Bar which offers only blow dry and styling services for hair, creates a gap in the market that I think my service could fill. 
• How is this market defined? The market is traditionally defined by women ages 18-34, but is not limited to any gender or age. 
• How are customers currently satisfying this need/how loyal are they? Customers are currently satisfying their need by either getting limited spa services when they have time and extra money, not getting professional services at all, or trying to do self-facials with skincare products you use at home. I think there is a sort of loyalty to this but I think the loyalty is due to the fact there are not limited alternatives to be loyal to.
• How big is this opportunity? I think this opportunity is rather large considering there is a lack of competition or alternatives than a traditional spa to extensively satisfy this need.
• How long will the window of opportunity be? Again, due to the lack of competition in quality, professional alternatives available in the market, I think the window of opportunity would be vast and would only narrow once the facial bar idea became replicated, much like with the similar business Dry Bar as now there are blow-dry only salons popping up all over the place.

Innovation

The service I have created to meet this need is Glow Facial Bar. Glow Facial Bar is a business offering specialized services of various types of facials. Glow Facial Bar is both membership-based and walk-in/appointments. Members will receive perks and deals of packages in order to keep a consistent clientele and ensure returning customers. It is also largely experiential and caters to the target audience of women promoting relaxation through aesthetics and trends. This experience will aid in returning customers as well as becoming a space women want visit, post on their social media, and bring their friends to as it is quality services for a relative price and has a uniqueness factor. 

Venture Concept

This service will meet the need by providing a haven for specialized facial services in a accessible, affordable environment. This taps into my market and creates desire to my target audience to want to purchase a membership package and continue returning for more services. Customers will choose Glow Facial Bar because of it's access, overall experience, quality and lack of competitors or alternatives for the a paralleled service. 

Three Minor Elements

1. My biggest resource is the lack of competition in the market I am trying to break into. While there are spas and at-home skincare options, there are not many facial-centric businesses that I have heard of which offer an experience and membership deals. 
2. The next venture for this service/business would be to start marketing toward my target audience to be certain and receptive I am encapsulating everything they would want in Glow Facial Bar.
3. Assuming I launched this product and it garnered major success, I would consider opening more locations and possibly even franchising, similar to the way Dry Bar became a franchised blow-dry/styling salon all over the country. Another possible track after reaching success could be a product line. 

Your Venture's Unfair Advantage -- 23A

1. Limited Competitors: Lack of competitors in the market producing a similar business idea and service.

• Valuable -- Uniqueness and competition are two extreme factors that lead to a successful factor, limited competition means more of an audience and higher chance of consistent customers. 
• Rare -- Coming up with a product or service that is non-existent anywhere else is nearly impossible so pursuing an idea with not a lot of competition is a rare opportunity. 
• Inimitable -- This lack of competitors is important because with less competitors there will be less commonality and options for your customers to switch to.
• Non-substitutable -- My idea for a facial bar service is hard to be substituted in terms of quality as you cannot really execute a spa-level facial service at home. 

2. Public Speaking: Experience public speaking in front of audiences, forming speeches and executing with ease, being able to both memorize and think on my feet.

• Valuable -- Public speaking experience is invaluable because it is entwined in almost every aspect of bringing  a business idea to fruition. 
• Rare -- While many people are good public speakers and able to memorize something, I feel my experience is rare in that I can also think under the gun when speaking. 
• Inimitable -- Quality cannot be replicated though others may be strong public speakers as well.
• Non-substitutable -- Having a strong ability to public speak is unavoidable and essential in this field when making pitches and business presentations regarding your service. 

3. Experience in Pitching: As a journalist, I make pitches for stories weekly and executing research and determining factors of why people will care and why an idea is relevant.

• Valuable -- This is valuable as pitching a business idea is kind of the same idea in that you must know who will care (establish customers), why it is needed (business peg), and then sell it to whoever you are pitching to (networking, investors).
• Rare -- This training I have received at UF is a basic skill for my major, that I learned and have now practiced ad nauseum, which gives me a leg up in this aspect. 
• Inimitable -- Quality and experience cannot be replicated so the years of experience I already have in pitching will take others time to develop.
• Non-substitutable -- Pitching, like public speaking, is unavoidable when trying to get your business off the ground with investors or other contacts.

4. Graphic Design Speciality: I have a specialty in graphic design, which I have honed in my time at UF.

• Valuable -- Immense attention to detail and eye for creative and aesthetic side of the business.
• Rare --  Rare because many business owners may not have these skills that can truly make the business stand apart from competitors.
• Inimitable -- An eye for design and the creative side of business is hard to just develop and copy, this will set the business apart from others. 
• Non-substitutable -- By having this experience, I can create a uniqueness to my idea that sets it apart while also being able to source design work in-house instead of paying someone else to do it.

5. Media Background: With a major in journalism I understand the power of the media. 

• Valuable -- This is so valuable with the level of business media has the power to drive now. 
• Rare -- It is a unique skill to have in order to be able to pitch to news contacts to push your business. Others may not have the contacts or idea of where to even start with media. 
• Inimitable -- Crafting an angle to make your business marketable to media is hard to imitate unless you know how a newsroom or media organization operates.
• Non-substitutable -- Becoming a succesful business is almost important without some sort of media traction.

6. Leadership: Natural leader with a continued urge to take the helm of projects.

• Valuable -- Leadership is important in guiding and running a business.
• Rare -- Rare because some might not feel like a natural leader and struggle with being assertive. 
• Inimitable -- Inimitable, but not leading like I would. 
• Non-substitutable -- I could lead my own business and employees without having to hire someone to do so for me.

7. Social Media Experience: Extensive experience in social media platforms and different apps aiding in targeting audiences, marketing, etc. 

• Valuable -- My target market is directly in the thick of the social media craze, so having this knowledge is extremely valuable in targeting. 
• Rare -- Rare, though others could have experience in this, but some may not have the extensive experiences I have in terms of strategies of reach.
• Inimitable -- Inimitable, but level varies.
• Non-substitutable -- Again, hiring a social media manager would mean losing money and contracting outside of business. Also, it is unavoidable for a business to be present in social media if they want to be successful. 

8.  Fundraising: While I do not have a huge background in fundraising, I understand the importance of finding sources of money when trying to start a new business. 

• Valuable -- It is valuable to know how to reach sources of money to fund a new business.
• Rare -- Not too rare, but takes experience and trial and error.
• Inimitable -- Could be imitated, but targeted differently from person-to-person.
• Non-substitutable -- You can not start a new business without investors or loans aka fundraising. 

9. Marketing: I have knowledge of marketing through experience in communications, public relations, advertising and graphic design all of which feed into marketing.

• Valuable -- Marketing is super valuable in creating a customer base.
• Rare -- Somewhat rare, as I have a unique background that will allow me to execute varying forms of targeted marketing.
• Inimitable -- Inimitable, but not like I could. 
• Non-substitutable -- Essential skill to have when building a successful brand and business.

10. Work Ethic: My work ethic and drive is a personal strength.

• Valuable -- As a business owner and entrepreneur hard work and smart business moves are what pushes you to the forefront even through challenging times. 
• Rare -- I believe my work ethic is rare because in the face of challenges I push myself to surpass the obstacle and continue on. This determination helps me thrive under pressure where some might crumble. 
• Inimitable -- As mentioned above, a solid work ethic is either something someone has or doesn't have, it can be hard to develop it after the fact as a solid work ethic needs to be  present as a foundation for all success.
• Non-substitutable -- It can be difficult to substitute a strong work ethic and working well under pressure because without them a entrepreneur or business cannot flourish and thrive as they go hand-in-hand. 

Top Resource: Limited Competitors

I think my top resource is that there are limited competitors for my business idea. This is extremely rare to find as it is hard to have a completely unmet need. With limited competition, I will be able to tap into a niche market to build my business and hopefully establish returning, satisfied customers. This is crucial because more competition would mean I didn't really have an unmet need in the first place, which means by entire idea would be entirely discredited. 

Elevator Pitch No. 3 -- 22A

After reading feedback from my previous elevator pitch, I definitely made a few changes in what I talked about during my pitch. Some of my feedback touched on how I would specifically differentiate my facial bar business from regular spas. This made me discuss the opportunity for membership rates and packages, which I mention in my pitch above. This leads into my next feedback that I took into consideration, which was how prices would be determined and deemed worth while, giving me the idea of creating a membership program.

Additionally, I received feedback on the delivery of my previous pitch in terms of pauses and speaking too quickly. I get nervous public speaking even through a camera so this is one thing I tried to make a conscious effort on based on the feedback but ended up being harder for me to accomplish as I wanted to hit all my points and be sure all of my content was still in the pitch. I felt that some of my speech was a bit memorized but other parts were more conversational.

Reading Reflection No. 2 -- 21A

I read the book How To Fail at Almost Everything and Still Win Big by Scott Adams.

1) I think the general theme of the book is having persistence and determination throughout your career and life, even when things aren't going as you hoped or expected. Adams portrays this through his story by showing readers you can fail, fail, and fail again and in the end it is helping teach you lessons that will amount to an eventual success -- as long as you persevere through the failures and learn major lessons from them.

 2) I think the correlation between this book and this course is strong. The lessons and themes Adams  discusses in his book are super relevant to our course work and further our life/careers. Being determined, motivated and persistent when you face obstacles, challenges or failures in your life is what builds you up, makes you stronger and contributes to the goal you will eventually reach. In this course, we as students have had to be determined to overcome our obstacles we have encountered in our blog posts and business/product developments taking feedback and holes in our ideas and transforming that 'failure' into a better product which will impact the end result.

3) If I had to describe an exercise based on this book, I would have my exercise deal with taking risks and diving into things that may not be the most comfortable but are manageable enough to actually help your end goal by slowly taking steps to overcome them. Risks are essential to achieving success, so identifying what your strengths are and where you need improvement as a weakness, figuring out that middle ground and finding a starting point can really help to make strides in getting comfortable with the idea of breaking out of your safe zone.

4) I think I was most surprised by the mind frame of Adams in terms of his belief of finding his energy rather than finding his passion. We hear the phrase of finding our passion so often that it was refreshing to read about someone approaching life from a different angle that I hadn't thought of before. Finding your energy is all about staying motivated with your energy so that even when you do fail you can pick yourself up and figure whatever it is out and that managing this energy through different facets can still lend itself to success through that failure. To me, that was such an interesting perspective and really made me think of my own failures, what future failures I could encounter, and how I can further handle them by channeling my energy.

Growing Your Social Capital -- 20A

1) Domain Expert: Christine Falcon
Christine Falcon is an esthetician in Key West, Florida. She has been an esthetician for almost 8 years and offers facial services, waxing services, spray tans, etc. out of a day spa. I contacted her via text as Falcon is my family's  esthetician and I have a personal contact with her as she has been performing skin care services on myself, my mother and even my brother for years. She has a zest for skincare and tons of knowledge on products, techniques, and customizes the advice, knowledge and service to the client. Having her in my network will offer me a lot in terms of how to keep a consistent client base and what prices are deemed fair enough to keep the customers coming back, in addition to how to branch out into selling products with the facial services.

2) Market Expert: Brooke Atwell
 Brooke Atwell is my peer and friend here at the University of Florida. She is a market expert because not only is she directly in my target demographic as a young female in her 20s, but also she actively participates and understands the skin care market -- frequently getting facial services at all kinds from local spas in Gainesville and her hometown of Key West. I decided to talk to Brooke via phone call because she sees the opportunity for a more accessible facial service business in addition to really  understanding the power of a unique experience and what social media can do to help the business take off -- which is one of the main focal points of my business in terms of creating an experience to keep customers coming back. She will offer an interesting perspective as someone who sees herself in the market and I can clearly ask her what she thinks does and doesn't appeal to my target customers.

3) Industry Supplier: Sara Fulton
Sara Fulton is the co-founder of Vivant Skincare. As the first woman to own and operate an FDA-approved manufacturing facility, it's safe to say she understands the market and strength of the skincare industry. She also has extensive background in acne treatments and research, her products are formulated to target and heal skin safely. I personally use the Vivant Skincare system and it is great, which proves that she would offer me invaluable information and advice in future endeavors of my facial bar business idea. It would be important to have someone like Dr. Fulton in my network as she really knows her stuff in terms of what products work for which individuals, which is customizable and can of course be trained and passed onto to further estheticians working a the facial bar.

This assignment was harder than I anticipated. I found it difficult to really think about who would best fit my network and understand my facial bar business idea. I really wanted to make sure I reached out to valuable people who each could offer different perspectives and ideas through different avenues and levels. For the future, I definitely wouldn't hesitate to reach out to people as this assignment taught me that gathering contacts and advice/information really can help to further develop your idea and diversify your opinions and thoughts. This assignment was a little more difficult than my previous networking assignments because of the parameters, considering I do not have much of a background (besides being a consumer and customer) in skincare, it was intimidating to contact professionals in a field outside my comfort zone. I think I will continue to seek the opinions of others, whether in these parameters or outside of them, as all thoughts and information can usually help to further your idea in some facet or way, in my opinion.

Idea Napkin No. 2 -- 19A

1) My name is Rachel Spencer and I am a senior journalism major with an outside concentration in business here at the University of Florida. As a journalism major with an affinity and passion for media, I want to use my skill set I have been building throughout my college years in order to find a creative outlet via digital communication. Throughout my coursework in both journalism based courses and design based courses, like media influenced graphic design, I have realized I want to creatively pursue something that encapsulates both of these areas, while also using my entrepreneurial spirit to guide me and create my own path.

2) I am offering to customers a service that capitalizes on the desires of men and women to place importance on skincare and relaxation. Most of my customer base wants to maintain a skin care service with a professional but are unaware where to find an esthetician or do not have time to book a complete, full-fledged spa service. My facial bar business would also appeal to the idea of experiences, playing into the brand of luxury and relaxation with the access that would accommodate a larger customer base. 

3) While I would mainly target women for this service and business idea, I also wouldn't rule out men as potential customers either. However, I think the female market would be easier to tap into given the idea of my facial bar. These women would be wanting to seek out facial and skincare services but might not necessarily have the time to head to a spa for a likely over priced service. I want to capitalize on the experience factor as well, considering the social media demographic of women wanting to share their unique, fun and trendy experiences online with friends and followers.

4) I think my targeted customers would care because there is a gap in the market for a business that solely caters to your skin. I have made the comparison multiple times over the semester to the immensely successful Dry Bar, which solely offers a service of shampoo, blow dry, and styling of women's hair plus a plethora of other avenues they have expanded into, such as hair products and hair tools. This proves that an isolated service can work and can become something women treat themselves with but can also make part of their maintenance routine, instilling a consistent clientele as it plays into the fact that it is more convenient than heading to a spa.

5) I think the concept itself sets it apart from other businesses and ideas. In addition, I am trying to target a direct market that I am a part of, linking me to the business idea in a way that I can relate and understand what is wanted in this market and how others could potentially react to my idea. Lastly, I think there is an opportunity to establish a membership type deal for the facial bar, which seems to be effective when people can purchase packages for a service and feel like they are getting their money worth on a service they want.

I do think these elements all fit together. With my background as well as experience and understanding of my target market, I feel like I could definitely tap into the need I see as unmet. Again, as I mentioned in my first  idea napkin, I think my biggest obstacle will be with pricing, figuring out a sweet spot of sorts in order to ensure quality, consistent clients and then further actually making a profit. The two main points I took from my previous feedback were pricing conditions and my target demographic changing these in this updated post to reflect the thought of creating a membership price in addition to a standard price for the service as well as redefining my target demographic to show a more specified and explained customer base.

Create A Customer Avatar -- 18A

My service would be targeted toward all women, but has a focus mainly on women in their 20s and 30s in urban areas. My custom avatar exemplifies this targeted market and would be what I would consider my ideal customer. This woman is 24, living in an urban area who uses experiences and hobbies as a way to pamper herself. She loves traveling, sharing her experiences via social media, and indulging in a different pass times in her spare time. She values skin care and frequently gets her nails and hair done, but cannot seem to squeeze in an extensive visit to the spa for a facial, especially when it is accompanied by a hefty price tag. My avatar hasn't had very many professional facials but would love to get them should the time and price be right, making for a feasible alternative to the at-home face masks she usually does. She often values experiences that feel well-rounded and tailored to her with an emphasis on how it makes her feel overall and whether it is deemed worthy in her mind, whether that be in price, quality, etc.

I have a lot in common with my avatar. I also love sharing my experiences on social media and when an experience or service is appealing in aesthetics or quality, I love to share it with friends through social media. I, too, am into pampering myself through getting my nails and hair done, particularly doing so when I am having a bad day or just want to relax. While I have had a lot of professional facials, contrary to my avatar, I do still see the opening for a more affordable facial, both cost and time efficient, like my facial business.

Figuring Out Buyer Behavior No. 2 -- 15A

Through my three interviews within my segment, I was able to figure out some valuable information. With the majority of my target segment doing their research through internet sources like Google, Yelp and social media platforms. This brought up a few key components which dictated how they select a product or service. While two out of three interviewees said they rely on reviews from Yelp or other similar sites, my third interviewee said in addition to social media and review sites, she puts  a lot of emphasis on reviews from people she knows and trusts, such as friends or family. All of my interviewees said for a service like mine that is more of a luxury, they would definitely put a lot of weight on price, making it a huge proponent or deterrent. They also mentioned that while price is a factor, the quality of the facial would need to be on par in order to justify the price or signify a good deal. The quality of the facial and overall experience/style would need to exceed the cost and make it worth it in the mind of the client.

While my facial bar would require an in person purchase and completion of service, it could also be targeted to my audience's use of technology, facilitating certain things with the use of an app to pay with card, schedule appointments, purchase online products, etc. all of which would contribute to the ease and experience factor of the facial bar.

I think overall experience and worth are the most important post-purchase factors in determining the rightness of spending their money at the facial bar. Should the facial service they receive be deemed a quality service coupled with an experience they enjoyed, that would mean they are more likely to not only be returning customers, but also feel good about what they paid for. To the same extent, a bad facial or experience would equate to feeling like the money paid was not worth it and associate a poor purchase with little to no likelihood of the customer returning again.

When looking back, I think my interviews confirmed my suspicion that while there certainly is interest from my target segment, the service and experience would have to appeal and make a direct impression to thrive on a returning customer basis, all of which is rooted in quality and pricing of my services and products offered at the facial bar.

Halfway Reflection -- 14A

1) This course can be tricky at times, as you can set your own pace and work on your own schedule. This is something I definitely had to adapt to and adjust my behaviors for the course accordingly in order to not only meet the requirements of the course, but also feel like I was making substantial strides in the assignments I was completing each week, as they all lead into the next week and are constantly building onto each other. With this, I had to train my brain to think outside the box for these assignments, considering different angles before I just wrote my obvious answer to whatever assignment we had for the week. In addition, I also feel as though I had to establish a higher level of consistency week-to-week in order to maintain the quality of work and not be over my head in the assignments.

2) I've definitely had a moment or two throughout the semester where I felt like I was drowning in the concepts of this course or like I wanted to give up. Particularly during the early stages, I felt like I really didn't know enough about entrepreneurship to be developing ideas, which showed in my output of work. This was a hard mental block to overcome in order to get into the headspace where I could produce a quality idea and run with it. I definitely feel like I have become more tenacious as the semester progresses in that I feel like I have had to take on tasks differently than I have in the past for this course, which was frustrating at first but now just feels natural as I challenge myself to move past  roadblocks and really challenge myself to produce something I am proud of.

3) My first tip to future students is to really hone and commit to a business idea or opportunity that you think can go the distance early on, so you can really focus and grow the idea as much as possible throughout the semester.

Second, I would preview and plan assignments ahead so as to have time to develop and understand what is expected and have enough time to accomplish the tasks, such as the interviewing part of certain assignments.

Lastly, I would recommend to new students to always read the peer reviews being left on your post, as this will provide insight, suggestions and feedback that will only help to make you and your ideas better!

Reading Reflection No. 1 -- 13A

The book I chose to read and reflect on was Steve Jobs by Walter Isaacson. Isaacson's biographical novel on Jobs was built upon over 40 interviews with Jobs over the last few years of his life. This gave Isaacson ample material to write the biography. While I know of Steve Jobs generally in terms of his role in the domination of Apple and it's rise in the technological world, I did not know much about his life and experiences prior to reading this novel.

One thing, of many, that I found interesting was how quickly the very first Apple product became profitable. Jobs and Steve Wozniak's first foray into Apple technology was the instant success because they used their entrepreneurial instincts to seek out a gap in the consumer market and create a product that birthed the modern computer. While I see the opportunity for obvious success of the Apple I computer at that time, I am not as surprised at the profitability but at the fact that on the very first venture of Apple, it was a success, considering most entrepreneurs have to try, try, try again to identify a market and problem, perfect an idea and actually make a profit.

I think the thing I most admired about Jobs throughout the book is his drive and ambition to keep creating and updating, constantly wanting all Apple products to be the absolute best in the field, no matter what it took.

By contrast, I least admired the accounts of how Jobs treated employees as described in the book. For  example, he frequently berated employees who presented ideas writing them off as bad ideas only to later present them as his own, taking credit and further deepening the apparent disconnect in my opinion between Jobs and his employees.

Steve Jobs definitely faced adversity and failure during his career, even though he also earned massive success. I think one of his earliest obstacles he needed to overcome was when he realized he no longer was benefitting or wanting to attend college in efforts to earn a degree. Thus, he dropped out and was challenged to use his ambitious and aggressive attitude toward life to kickstart something to earn him money and self-fulfilment. In addition, the massive company he founded essentially kicked him out of the company, until he later rejoined after rocky relationships with Apple, pulling the company out of its indisputable downward spiral at that time, and kickstarting it again into the empire that it is today.

I think one of Jobs' greatest competencies was his ambitious spirit and go-getter drive to achieve a perfect product. It could be his greatest asset at times, but also a deterrent, however in the end it helped him build the enormity of what we know as Apple today. This is introduced in the novel as the 'reality distortion field' a term coined by Bud Tribble, and means that Jobs with his spirit and driven nature could convince almost anyone of anything, especially regarding the quality Apple products. He also was a mastermind in knowing a good opportunity when he sees one, able to recognize ideas, open gaps in a market, and target niches, taking these ideas with a lot of potential and the having the ability to bring them to fruition. All of these are key aspects to being a powerhouse entrepreneur, which he was to his very core.

One part of the reading that was confusing to me and a bit hard to follow was the back and forth of Jobs' history with Apple, from founding it, to getting kicked out of the company, to working on other projects outside of Apple when he hadn't quite left it yet, to being brought back when the company was failing. In all, it is just a bit confusing because from the outside, Jobs has always appeared as the face of Apple but there were times when he wasn't even involved with the company at all, which in interesting.

If I could ask Steve Jobs any two questions I would ask:
1. Looking back at your life, would you want to go back and change anything, do something over or take back a certain decision?
2. What do you think contributed most to your success?

I think Jobs' opinion on hard work is that it is worth it in the long run, and it will drive you to accomplish great things. Jobs' also probably saw it as a necessary and crucial component to the success he achieved throughout his life. I agree with this wholeheartedly, as I was constantly raised and reminded to view hard work as an essential skill of life. In addition, I agree that it will motivate you to reach your goals as the hard work you put in is going to yield the results you desire.

Figuring out Buyer Behavior No. 1 -- 12A

1) The segment I chose was women, as this is the targeted audience and majority of who I think my business idea of a facial-only business would apply most to, without restrictions of age.

2) For this assignment, I have decided to interview three women currently living in Gainesville. I decided to interview three different age ranges, one is an 18-year-old high school student, another a college junior at UF, and the third woman is a 35-year-old mother who works a full time job.

3) The need is definitely apparent, as indicated by each female I spoke with. All of them recognized the gap in the market of speedy spa-related services, as there are not businesses dedicated solely to one service. They expressed that while they do value skincare and are always wishing they could head in for facials periodically, their schedules and wallets do not always allow for that. My interviewees agreed that certain times could present more of a need, for example before a big event they are attending or if they've had a rather bad day or week and just want to treat themselves on the spot.

4) My interviewees collectively said the first thing they do when wanting to potentially schedule a spa service like a facial is consult Google to find businesses offering the service and further look into pricing, appointments, reviews, etc. The high school student and college junior both acknowledged that they also look to social media, such as Instagram or even Yelp after recognizing their need and seeking out a solution, while the 35-year-old mother consulted websites of the spas and occasionally consulting local friends or Facebook.

5) Through my interviews with these women, I learned that there is definitely an unmet need as they all expressed wanting to get a facial or other spa-related service at some point and backed out due to accessibility, scheduling or pricing issues. The convenience of my proposed facial bar gained interest from each woman as they liked the idea of being able to walk-in and have a target, customizable service performed speedily. The high school student and college junior also really resonated with the comparison to the Dry Bar, as they had both been aware of that business and the experiential factor  (the Instagram-ability of it) and would jump at the chance to use the service should it be available in Gainesville, even as a once-in-a-while treat to themselves as opposed to coming on a consistent basis when on a budget.

6) This segment was really helpful as the interviews I conducted within it helped me to see where I get more traction from women age-wise.  It also helped to solidify that I am targeting my business correctly in terms of how it could be branded as an experience with trendiness which capitalizes on the 'fad'-like attraction for customers to certain ideas. I definitely think this segment has an opening for a facial bar in the market of the purchase of pampering services.

Idea Napkin No. 1 -- 11A

1) As someone who identifies as a creative with an affinity and keenness for communications, I think this is wildly influential over not only who I am, but also my current and future aspirations as well as which of my experiences I place the most value on. In terms of skills besides being a strong communicator with my background in journalism, I also am fascinated with the elements of branding whether it be design, concept, or marketing a business to a target audience through extensive branding, social media and aesthetics. Through my background in journalism, I have explored varying levels and fields of graphic design, which definitely would come in hand in my proposed business idea of an aesthetically driven facial spa, marketed toward the experience value in everything from the services and products offered to the interior and exterior layouts, etc to make the facial-only spa stand out from similar competitors. I think should I really launch this business, it could potentially become a huge part of my life, as most business owners can attest to. I see there being loads of opportunities along with the actual business as I could sell certain products with services, host events, promotions or create other opportunities to customize the experience and potentially increase profit and awareness of the business.

2) I am capitalizing on the unmet need of the majority of women's desire to maintain a skin care regimen with a professional but not have to go through the hoops and scheduling of booking with a full-fledged spa. My facial business would be more of an experience that caters solely to your skin, customizing facials for a speedy, but effective service that promotes the luxury and experience of a spa but does not have the time commitment or hefty price tag of a spa service.

3) As I mentioned, I feel as though much of my targeted demographic would be women seeking out facial services that want to feel pampered but might not necessarily have all the time in the world to head to a spa. Comparing my business idea to that of the Dry Bar, which also targets solely women and offers hair blow-out and styling services only, I would capitalize on the "experience" factor women seek out and care about when selecting businesses to use, especially considering the landscape we live in today, where women love to document their unique experiences via social media.

4) Again, I think customers in my targeted demographic would care about my offered service and business because it is capitalizing on a gap in the market, follows an already successful formula as documented by Dry Bar, and caters to the experience factor while not breaking the bank and becoming too much of an inconvenience in terms of time.

5) I think the idea at its root is what sets it apart from other businesses as I haven't really seen many ideas similar with the same purpose, capitalizing on an open market with slim competition and an already set-up, established demographic wanting to seek out these services, yet they are seemingly non-existent in the format I am proposing.

I do think these elements all fit together in a way that can create a functioning business that could become a trend and attract consumers to fuel the idea, especially considering there are various avenues to grow the business and generate more opportunities within. My only concern with the prospective business idea is with pricing because the business is contingent upon it as it determines how widespread our range of customers would be. If prices are too high, then customers may not feel the service is worth it, which would definitely be the downfall. However, should the element of experience exceed expectations as I hope, I think the prices would be seen as fair and valuable once a crop of customers has been established.

Elevator Pitch No. 1 -- 10A

This is my elevator pitch for my business opportunity GLOW Facial Bar.

Testing the Hypothesis Part 2 -- 9A

My opportunity and business idea lies within the open market of people who value spa services, specifically facials, but do not have enough time to settle into a spa for an extensive service. I conducted five interviews to further refine my business idea and opportunity.

Interview Summaries:

Interview #1: Male undergraduate college student

Does not feel completely in tune to the target demographic as he couldn't necessarily see himself going into a facial bar for a spa service. He stated he does not really have the need for an immediate access skin care facility.

Interview #2: Female college student who has their own esthetician

This female student has their own esthetician here in Gainesville. They are happy with the service and price given and make regular appointments bi-weekly to receive a facial. They stated they would be hesitant to leave their usual esthetician even for my idea of a more accessible facial service bar.

Interview #3: Female high school student

This interviewee likes the idea of the immediacy and experience of the potential facial bar but said she would likely not be able to justify spending her salary from her part-time job on the service. This is because she would not deem it valuable enough to her personally.

Interview #4: Mother of two kids

This mother also likes the idea in theory however she feels as though she wouldn't be able to use the business to it's fullest as she does not have enough time or feel that she could sacrifice time to play into the convenience factor of the business.

Interview #5: Male law school student

Similar to the other male I interviewed, this interviewee did not see himself coming into a facial bar as he has a simple skincare routine that works for him and does not see the need for much else in that realm. Also, money did play a factor as he has little room for surplus spending on non-priority expenditures.

Solving the Problem -- 8A

Idea: An express facial bar

Opportunity: Women in general love pampering themselves, from their nails, feet, hair, almost anything can turn into a service targeted to women. However, it can be hard to find time and access to a spa, thus the appeal of an express facial bar that offers facial services that are effective in quality yet don't waste time.

Product/Service: This facial bar would offer an experience that is customizable and specific to each customer, offering walk-ins appointments and creating a relaxing environment without committing to an expensive, drawn out spa service. To appeal to these express services, this would be comparable to the Dry Bar, an exclusive blow dry salon that offers express hair wash, blow out and styling services that creates an experience that appeals to women with a vibe of luxury that will keep them wanting to continue coming back. It combines access with glamour yet is realistic of timing and pricing to give value to the express facial.

Testing the Hypothesis -- 7A

1. Opportunity: Express facial bar/experience

2. Who: Marketed toward women of all ages

What: Capitalizes on the demand for express services in a trendy, accessible and luxurious environment creating an experience comparable to the extremely popular Dry Bar, but instead of blow outs and hair styling, it offers facial services.

Why: Most women love pampering but do not necessarily have the time for a whole facial at a full-fledged spa, thus the express element

3. Testing the who: Women would be the targeted demographic, not limited to a specific area or age, but I think men could also have the need for express facials.

Testing the what: One question to ask is, "Would people value the express facial or feel it would not be a valid service to provide and spend their money on?" This is an important question considering the fact that should potential customers not see value and worth in the service then the business idea is essentially defunct.

Testing the why: I feel as though there is an opportunity to capitalize on the demand of "express services." As a girl, I love pampering myself and when pairing the idea of glamour and luxury with access you end up with a model that has been tried and true as a hook for the female demographic.
The idea of "express services" relates back to the idea of access and pairing it with the luxury and glamour of a speedy, but effective facial could create an experience that is useful and worthy for consumers. In this age, so much of our generation makes decisions based on instant gratification and an experience factor to rave about to others, both of which I think will be touched on in this opportunity.

4. Seeing as my targeted demographic is mostly women, I decided to focus my interviews on them, however, I still asked one male what his opinion would be. Overall, the interviewees were interested in the concept of an express facial bar with a similar tone and concept to Dry Bar, though there were concerns. Interviewees 1, 3 and 4, all female college students, thought the idea was strong but their willingness to actually (in theory) go to the facial bar for a service all depended on how much the service would cost stating that the price would determine if they could spare the money on a quality service as well as how often they would be able to get the service. Additionally, interviewee 2, a female in her twenties said the idea had great potential as she was familiar with these type of express service businesses, like Dry Bar, supporting the idea of creating an overall experience that will help define the brand and business. She also voiced concerns similar to interviewees 1, 3 and 4 though about having reflective prices to make the time allotted to the facial deemed worthy of her money. Interviewee 2 did have an interesting suggestion of combining walk-in services with membership services of a flat fee for a certain amount of facials, perks, drinks, etc. at the facial bar. My only male interviewee is a college senior who has gotten facials before. While he could not personally see himself going into an express facial bar, he pointed out that many females love having spa services and having more access to them would probably increase the pool of females wanting to go to a business like this. He also pointed out that the experience side of social media could skyrocket this type of idea, capitalizing on the uniqueness of doing something others could see as "exclusive."

5. After conducting interviews and working through the who, what, why specifics of this opportunity and business idea, I definitely see more potential in an express facial bar than I did prior. The feedback from the interviews really made my thought process dart toward how crucial pricing is and got me to wonder how I could concoct a menu of prices for the services of the facial bar that is both profitable but also deemed appropriate for the customers. This could be one of the biggest challenged of any business really as the pricing really dictates consumership. Each of my interviewees also alluded to the fact that it could be limiting to only target women but that it would be the most obvious and attainable demographic to market toward, given the obvious that men typically do not frequent spas, though I would not rule them out of my demographic completely and perhaps specials for couples or males-only could widen my target audience. To conclude, this activity and my interviews gave me a lot of insight and inspiration for my opportunity and potential business idea, highlighting holes in the concept as well as noting the hole in the market for what could be an express facial bar.

Identifying Opportunities in Economic & Regulatory Trends -- 6A

Economic Trends 

1. Minimum Wage Increases

• I found this opportunity on the website "The Simple Dollar". On January 1, 19 states raised the minimum wage for workers due to various factors. The increase ranges depending on the state but year-round workers who receive the increase will see their annual pay rise anywhere from $90 to $1300. The opportunity exist for workers making a minimum wage to pocket a higher pay from the increase. The opportunity is applicable to not only the surface-level thought of minimum wage workers like the high school teen working a part-time job, but also the huge population of people working for minimum wage pay and trying to support themselves, a family, etc. I think it is relatively easy to exploit and reap the benefit of the minimum wage raise as people earning this wage have had to live on it since the last raise so anything more will be beneficial. 
• I saw this as an opportunity after reading about and seeing a lot of poverty in America and understanding that so many people do not make a livable wage and it creates such a financial hardship when earning minimum wage pay.

2. Consumer Shifts: End of Ownership -- Renting Is On The Rise

• I found this opportunity on an article posted to Forbes' website about 2019 business trends. Consumers are shifting away from an ownership business model, appealing more toward a renting business model instead. Netflix replaced video stores as well as ZipCar for actually owning a car. The opportunity for businesses to tap into the appeal of renting by changing their business model in order to appeal to and maintain an audience who zeroes in on the idea of access, shifting with the consumers instead of getting left behind only to have to remodel later. The prototypical customer is the consumers who are tailoring their business selections to those with the most access. I think the opportunity is relatively easy to exploit because if businesses choose not to shift with the consumer who values access then the business will cease to exist. 
• I saw this as an opportunity because I am a part of the consumer audience that tailors my selection of a business or service based upon the access factor, so I firsthand feel that it is a legitimate shift of modern consumership. 

Regulatory Trends

1. Massachusetts regulation on Airbnbs

• I found this opportunity on a Massachusetts news outlet. Airbnbs have been a continuing trend around the world, with the rise stemming various regulations depending on the state the Airbnb is located in. Massachusetts recently signed in a regulation to tax Airbnbs the same 5.7% state tax that hotels pay. It will also allow towns and cities to levy their own taxes of up to 6% on rentals over a certain number of days. This will take effect July 1, 2019. This is an opportunity for the state to profit off of an exploding market that has the staying power to generate big numbers. This is relatively easy to exploit because there is no way around the regulation for Airbnbs and the market for them will easily stick around to generate revenue for the state (the prototypical customer).
• I saw this as an opportunity considering the popularity of Airbnb with modern consumers who like that they can easily access a site with photos of the property and instantly book a whole home for less than a hotel price in most circumstances. This appeal leads to the obvious assumption that Airbnb popularity is not going anywhere anytime soon and thus can be a solid way to profit for the state government. 

2. Legalization of Marijuana

• I saw this opportunity on governing.com's website. Marijuana has been legalized recreationally in 10 states while it has been medically legalized in 33 states. There is an opportunity here within the legalization of marijuana for both medical and recreational use in that it could become a taxable entity providing a revenue source for the government which in turn stimulates the economy. The opportunity is applicable to both the government and businesses that participate in the marijuana market. I think this opportunity would be relatively easy to exploit as more states continue to debate and legalize marijuana medically or recreationally and considering the extreme benefits the industry can generate economically.
• I deemed this an opportunity after analyzing and evaluating just how prosperous and advantageous the marijuana industry has proven to be from a business-like viewpoint.

Identifying Local Opportunities -- 5A

1. Tropicana Field to become cashless this season

• Tropicana Field will become a cashless venue this season accepting payment in the forms of all major credit cards, Rays gift cards, mobile payments like Apple Pay, and season-ticket holder Rays cards. Cash can be exchanged for a gift card at retail locations around the venue.
• This may cut down transaction times by eliminating cash transactions, but for attendees who do not usually make cashless transactions it can create a hassle when trying to enjoy yourself at Tropicana Field events because you will have to go out of your way to find the exchanging spots, get your gift card and then complete the transaction you were attempting to make. 
• The problem pertains to people who do not use cards or electronic payment who are attending  events at the venue as it creates another step for them to complete before actually purchasing something. 

2. Florida teacher shortage: More than 2,200 jobs open halfway into school year, union says

• Florida's public schools have more than 2,200 open teaching spots to fill across the state, spanning in subject area and grade level. The volume of vacancies has increased since last year. Without filling these slots, the education of students falls more and more behind. 
• As more and more teaching positions go unfilled and become open, the quality of students' education goes down as the options to fill the spots keeps decreasing. In all, the shortage is causing students' needs to be unmet.
• The school systems across Florida (and the nation) are encountering this problem but it is mainly impacting the students who are needing these teachers in order to obtain a quality education.

3. Gainesville delivery services expand options for staying in

• The trend of a third-party delivery services has skyrocketed in popularity during the last few years. On the rise almost everywhere, including Gainesville, one can get delivered food from a slew of restaurants partnered with Bite Squad or even get their groceries delivered by way of Instacart. This new propellent of staying in by use of technology has become a norm here in Gainesville. 
• The problem with this type of consuming goods through delivery could bring stiff competition for stores and restaurants who are not partnered with a delivery service, as they could be passed off and lose business as more and more people opt to just dine-in or shop from someone who offers delivery through the services. 
• Restaurants and grocery stores not partnered with a delivery service could be targeted by this problem as they lose business to competitors who are.  

4. Belt buckles and beer: Federal shutdown hits businesses hard 

• Businesses across the United States who rely heavily on federal employees as customers have had a resounding struggle since the government has shutdown. Many are being forced to cut workers' hours, lay off employees or purchase less from their suppliers as federal employees who are not being paid are deciding to conserve their resources during the shutdown, thus creating a deficit for businesses who are fueled mostly by these people. 
• The problem is that for these businesses even though the shutdown is temporary, the effects of not making money or profit can be prolonged even after the shutdown is resolved. 
• Business owners who rely on federal employees for their business are being severely impacted.  For example, in the article the owner of a few restaurants near an Army base which houses around 70 federal agencies, is being highly impacted with their sales dropping 35 percent.

5. City of Orlando to install parking boxes for Lime bikes

• The bike-sharing company Lime has been gaining popularity across the United States, including in Orlando, Fl. However, with the popularity of the bikes, there has been issues arise for some people as there are no designated parking boxes for the bikes. Thus, the city of Orlando is now getting ahead of the issue by launching a plan for painted bike squares for cyclist to park these specific bikes. 
• The problem arises from the Lime bikes often blocking sidewalks or ramps in the city when left wherever by renters. 
• Orlando residents and pedestrians attempting to walk or ride other forms of transportation on sidewalks or these ramps are being impacted by the inconveniences and blockages these bikes can create.

Forming an Opportunity -- 4A

1. Over my time here at the University of Florida I have come to realize and become frustrated with one particular issue: the parking, or lack thereof both on campus and in surrounding areas of the campus. UF sells decals to any student or faculty looking to purchase but this doesn't guarantee a spot as the amount of people with decals far exceeds the available spots.

2. Not only are students vying for parking but faculty members are as well. While the effort on campus is there in the form of parking decals and designated lots, the capacity of cars looking to park far exceeds the amount of parking actually available, making it almost impossible to find available parking in a correlating decal area. I think this need has always existed on some scale but in recent years the need has quickly multiplied and become hard to ignore. I am very confident (about 95 percent) that most would describe UF's parking situation as an opportunity to improve on within the university.

3. The prototypical customer would widely be students, even though faculty members are impacted they have more decal-specific driven lots with less competition than students.

Student 1 Interview:

-This student lives off-campus and states that the need of limited parking options is really apparent. This need came into play for her mostly in her two years prior as she lived too far from campus to walk to class. She stated that part of her decision to move closer to campus was to be closer to campus and minimize the struggle to find parking by being able to walk to class. While the student's rent increased being closer to campus, it eased the stress of having to go scour for a parking spot, like she had previously done for the last two years. This was an effective solution to her problem as now she can get to class in about 15 minutes whereas at times in her previous situation she would spend upwards of 30 minutes driving around looking for any spot, not even necessarily close to her class, and at the chance she didn't find anything she would have to just risk getting a ticket in order to just make it to her class.

Student 2 Interview:

Student 2 is also a student living off-campus currently but lived on campus for their first year at UF. The need for more parking often impacted him when living in the dorms as he would park his car and not move it unless absolutely necessary in fear that when he would come back there would be no spot to park his car in again. This seemed to be collective for dorm residents as most do the same and go long periods of time without moving their car. This limited him from driving to places like Publix, going to restaurants, etc. Now this student found a solution in living off-campus in a near apartment complex so they walk to school with ease, but this contributed greatly to his decision on signing with an apartment complex within walking distance to the college.

Student 3 Interview:

Student 3 is a freshman living off-campus in an apartment who decided to live off-campus to avoid having to park her car in on-campus parking while living in the dorms. She was impacted this last fall semester and currently in the spring as she does not live within walking distance to UF and still has to drive her car to campus, being unaware at the time of selecting her apartment that parking was so limited on campus. Her current solution is to try and park on campus but more often than not, in order to avoid missing or being late to class, she parks in the Reitz Union, paying hourly fees for however long she is on campus, risking and receiving tickets for expired meters in the last semester. She also attempts to take the bus when she can in effort to avoid the chaos of parking. Her future solution is to sign a new lease in an apartment building that has designated parking spots and a closer walk to campus.

Reflection & Summary:
From my interviews, I can conclude that most students at UF are impacted in at least some form at some point in their time at UF. Whether it be students living in dorms on-campus or off-campus students who opt to drive their car to school as opposed to taking the bus. These students which I interviewed may encounter the problem differently, they are still impacted by the same issue at the core: not enough parking. Overall, it was obvious from my interviewees that more parking would adequately suit the UF student population, evening out the ratio between the amount of parking and  number of students looking for that parking as certainly having more would not present a negative impact.

In all, I think my opportunity is still prevalent and relevant to the University of Florida population, even after conducting and analyzing my interviews. With both on and off-campus students being impacted, it is a pretty big indicator that the opportunity and problem identified is spot-on. I think the more people I talk to the more would agree that limited parking is an issue, as even if they are not impacted directly odds are they know someone who is or has been at some point. Customer feedback is essential to entrepreneurs in my opinion, as one would want their developed product or solution to be as effective as possible in order to be not only successful but valuable as that is the whole point. Without customer feedback I feel as though entrepreneurs have little guidance, though I don't think it is necessary to "adapt" every opportunity based on each person's opinion as in most cases you cannot please everyone.

My Entrepreneurship Story -- 3A

I have been exposed to entrepreneurship my entire life. This is because my father is a small-business owner and entrepreneur. My father's most recent entrepreneurship venture was opening a beach bar/restaurant in my hometown of Key West, Florida called Lagerheads Beach Bar & Grill. He opened it in 2013 but the process as as a new business owner began way before the opening, as he had to build it from the ground up by hiring employees, acquiring licenses, renovating the building, constructing a menu and recipes, acquiring all necessary materials for running a beach, etc. All of this was done on top of running his already established boat rental and repair business, which essentially meant having two full time jobs with both businesses open seven days a week, requiring a total entrepreneurial mindset and spirit.

In the two years after opening Lagerheads Beach Bar & Grill, my dad, as well as my entire family, made various sacrifices for the success of the business, such as all taking shifts working at the business and my mother taking a leave of absence from her career to run it and get it in tip-top shape. Even with such little time as an actual developed business, the potential value of Lagerheads allowed us to strike a lucrative deal which made the business a successful venture and investment for my father as we sold it to new owners at the end of 2015. 

The business dealings and entrepreneurial mind of my father has given me a new perspective throughout my life as he taught my siblings and I to see things from an entrepreneur's perspective, having exposed us to the internal side of owning and starting businesses as well as the process of identifying and launching new ideas and dissecting what could or could not be a good opportunity on the business front. 

I am in this class to meet the requirement of my concentration in Business, but I specifically chose this course because of my direct exposure to entrepreneurship, as stated above. It has always been a part of my life and is a topic I want to explore and learn more about. 

Bug List -- 2A

1. Parking at  Publix
The parking at the recently opened Publix near campus on 13th Street (across from The Standard Apartments) is always jam packed with little movement from most cars at almost any time of day.
When cars do move, the area is so small and the capacity of waiting cars is so big that it becomes an issue to let cars out in order for spots to then become available. This is in part due to the limited number of spots available for a widely-used Publix but also because there are workers parking in the same parking lot and not moving until their shift is over, thus taking spots away from customers.

2. Lack of Macbook USB
My Macbook is marketed as being state of the art and  high performance with the sleekness and appeal of weighing virtually nothing. It checks out in this sense, but the tradeoff is that the ports for the computer are limited to that of a charging port and a headphone jack, without a USB port to charge my phone. I understand that the computer is too slim to add it in, as that is what I bought the computer for so I wasn't toting around a heavy laptop but it would still occur to me that  a USB port would be necessary for almost any laptop as customers may want to charge a phone or plug in a flash drive without purchasing and carrying an adapter to do so.

3. Scooter Parking
Scooters are a huge method of transportation here in Gainesville. As a result of this, apartments, campus, etc. have designated certain spots for scooter parking at establishments, however, many times I see scooters taking up car parking spots. This is problematic for car drivers because the tiny amount of space left when a scooter parks in a regular parking spot is impossible for a car to also fit in. This is because there is a surplus of scooters around town and not enough scooter parking to accommodate them.

4. Prevalence of social media at all times
Social media is a key component of our generation. I love it and am on it more time than I would probably like to admit, but when I sit down to a meal or am trying to have a conversation with someone who is constantly on their phone it is really frustrating. I think the commonality of this occurring is because social media has become what most millennials are constantly thinking about creating a reliance on it and inability to not use it at certain times.

5. Long lines at Midtown
When trying to let off steam from a stressful academic life, my friends and I like to head out to Midtown, however in the last 2 years the long lines have become such an issue that it is hard to gain access to bars and restaurants in the area without waiting a minimum of at least 30 minutes. These lines are due to the high volume of students and the slim number of bars and restaurants in the area thus making it difficult to go anywhere without encountering a line.

6. Street parking in residential areas
Street parking in the residential areas of Gainesville is extremely limited. Paired with the fact that housing and apartment complexes near campus have a high volume of students attempting to park causes a lot of stress for people trying to park their cars in regular street parking. With the limited number of spots available many people park in whatever street parking spot they can find and do not move for as long as possible. Thus creating even more of a limitation and causing street parkers to drive around and around looking for a spot that could be close to their apartment or house or even blocks away.

7. Starbucks on campus 
Finding a Starbucks without a line on-campus is often an extremely difficult task. This is because of the high volume of students, like me, with need for their addicting coffee to give us energy, and the minute amount of workers in comparison. Thus the ratio of drinks to worker is inadequate and causes a long wait time to get your drink, even when pre-ordering via Tapingo.

8. TSA lines at airports
TSA lines at airports are often long and slow. While it is for our safety and I am glad we have them, it can be both annoying and make you miss your flight if you do not space out enough time prior. These long lines can be attributed to not enough staff to accommodate the volume of people trying to get through security. More prevalent at this time, it can also be due to the government shutdown.

9. Pedicure Problems
I get annoyed with my nail salon when they put me in my pedicure chair and run the water before they are actually ready to do the pedicure. The water ran 20 minutes prior to my actual service is always cold by the time they get to me and I end up wishing I would have just waited in the lounge area. This could be due to the workers wanting to accommodate me but not having enough workers but also poor customer service.

10. Traffic on Archer Road
Traffic on Archer Road anytime after probably 4:00 p.m. leading up to around 7:00 p.m. is always a nightmare. The capacity of cars taking that road compared to the amount of lanes and stoplights creates time-consuming traffic. This is a huge issue considering it is a prevalent road in Gainesville, having turning points to the University, a ton of restaurants, stores, etc., and also leading to the highway.

11. Inbox Spam
My e-mail is a cess pool for spam emails from any store, place or company I have ever encountered. The spam emails are attempting to promote the sender to me and potentially increase sales, but the volume at which the companies do so makes me either unsubscribe from the list or delete the emails without even looking at them.

12.  Excess candle going to waste
I am a huge addict to Bath & Body Works' three-wick candles. These candles smell great but if you don't consistently trim the wicks every time before burning, then at the end of the wick you will be left with an excess amount of your candle and no wick to burn it with. This makes me feel as though I have wasted my money. The excess candle annoyance can be attributed to poor design and production of the candles or even a grander marketing scheme to make me purchase more and more candles before I technically need to.

13. Frozen yogurt cups
Frozen yogurt is another one of my addictions, however it drives me crazy that there is only one size cup offered and it is huge. This is definitely a marketing strategy so that you spend more money because you cannot gauge how much yogurt you're actually putting into the massive cup. It is effective though because I always end up getting too much yogurt and spending more money than I needed to.

14. Foundation shade
As a girl who enjoys makeup, it is insanely important for me to own the right shade of foundation to match my face and body. However, sometimes a makeup brand's foundation will appear to match correctly in the store but after a certain amount of time it will oxidize and essentially turn orange or another shade which definitely doesn't match. This is due to the company releasing a poor product that may only work for some and not others.

15. Key West driving route
Being from Key West, an island most people see as paradise, is amazing. However, anytime we have to travel out of Key West is a headache until you get to Miami. This is because there is only one road in/out (US1). This means every accident or traffic jam is felt all the way down to the Keys, making traffic unavoidable. This is due to the limited amount of space to build another highway leading in and out of the Keys.

16. Prices on Feminine Products 
Women's products such as tampons and pads are something we must all purchase as we simply do not have a choice. These are pretty expensive and can be problematic for women on tight budgets as there is no way around having to purchase them. In my opinion, the expense of these products is because companies know women will buy them at whatever price they designate considering they are a necessity.

17. Starbucks' drive-thru line on Archer Road
The drive-thru line at Starbucks on Archer is congested more often than not. Cars wrap around the  entire building and behind the plaza. This is not only a problem for cars in the drive-thru but people trying to enter and exit the plaza as cars from the drive-thru are blocking them. This is from a poor design and location of the line and the Starbucks overall.

18. Winter clothing in a summer state
Every clothing store rotates their clothes based on season. This becomes tough for Floridians trying to find weather appropriate clothing during winter months, as it may get cold in some places at some times but may likely be hot on other days. Stores generally don't consider this and options are slim when shopping for Florida's "winter" weather. This is due to clothing stores providing for the majority of the United States, as it is the most financially and logical approach to stocking a chain clothing store.

19. When my mom makes trivial things into a full blown lecture
She does this because she cares about me and wants the best for me, though acts as if some of the points she makes have never occurred to me, putting more pressure on me than necessary because I have likely already lectured myself introspectively.

20. When coffee shops do not have adequate wifi or do not make it easily accessible
Coffee shops are now a common place for students or even adults to go and get work done or leisurely browse the internet via a computer, yet some coffee shops remain without adequate, strong wifi for customers or do not have it easily displayed around the shop. This is because coffee shops do not have to supply wifi for their customer and can opt not to give customers the wifi details.

Reflection:

I definitely did not anticipate this assignment to be as challenging as it was. While I am a chronic complainer, it was more difficult than I thought it would be to articulate exactly what these "bugs" are and why they are so annoying on the spot. As a result, after about 8 examples, it started to get increasingly more difficult to come up with specific instances. However, as tedious as it was, I found  myself able to logically explain why, from a different perspective, these bugs exist pretty easily once I thought of the initial scenario.