30A - FINAL REFLECTION

1) Remembering the beginning of the semester I realize that I could continue with the assignments, even though sometimes they were time consuming and that you have to know how manage your time really well in order t to have an A in the class. I think what I liked the most of the class were the reading reflection assignments, I appreciated each book that I read because each one left me a message. I think the assignment that was the hardest for was the one in which we had to create a business idea and in part, the whole class was based on that business idea.

2) I think that with this class I learned to manage my time in a better way, I also learned the steps of how to begin with your idea and become on a entrepreneur based on that. I really enjoyed the reading reflections.

3)  Seeing myself as an entrepreneur I have advanced, but nevertheless I feel that I still have a long way to go. Now, I have an idea of ​​how to start and how an idea is developed and studied, which is a good step to start

4)  First, I would tell them to try to find a business idea that they are passionate about and that they devote the necessary time to find that idea, since many assignments of the class are based on that. I would advise them to set fixed days to do their assignments and an alarm on Mondays so they do not forget the cupcakes or to make the peer reviews

29A - VENTURE CONCEPT #2

Venture Concept #2

For this assignment, I tried to improve the way I wrote the first venture concept. I did not receive any feedback based on the concept, or something I needed to improve... Either way here it is

1. Opportunity

• Who has the need and nature of the need

This product is directly presented to students from the University of Florida who want to keep a healthy lifestyle, but it is hard for them because of their student budget or lack of time. That is why the idea is to create a space in which students of the university (and outsiders as well) can feel motivated and integrated to keep eating well and exercising every day. We will help them by preparing the meals with high quality ingredients and at a great price and also creating routines that will be adapted to their lifestyles and desired goals

• How are customers currently satisfying this need?

I first notice this need when I arrived to Gainesville and wanted to join a gym that will have trainers to tell me exactly what I need to do (somewhat like orange theory concept) but there is not this kind of gym close to campus, now I am proposing a gym with group training close to campus, so students can easily fit between classes a workout time  without taking to much time from their day

• How big is this opportunity?

I think this is a great opportunity, specially among woman, staying healthy and eating well is a trend that I think will not go away

2. Innovation

• What I am offering is a combination of affordable, fast and healthy meals and snacks. I plan to create a kind of club in which woman will be comfortable with themselves, we will have trainers specialized for each area, and everything will be close to campus. So, you are able to workout in that break of hours that you have between classes or after class. You will be able to also grab a healthy and delicious lunch for an incredible price
• prices in here are going to vary, if you just want the meal package it will be $60 a week including every meal from Monday-friday, if you want the whole package which includes access to all classes and all meals it would have a cost of $80 a week

3.   

• What are the reasons to think customers would switch to this new product?  How hard will it be to get them to switch? 

I think they will switch because they will be able to select what to eat each day, it is convenient and the location will be perfect for students

• Who are the competitors?  What are their possible weaknesses or vulnerabilities?  

My competitors will be every gym or every company that does meal preps. But I think this is great because customers are going to have all the services in one business which will make their lives easier.

•   What role does packaging, your price points, distribution, customer support, the customer experience or the business location play (if any) in defining your business concept?

I think this is an important point because I plan to bring products that are not available in Gainesville at the moment, such as healthy snacks like nutritious cakes, cupcakes, cookies made out of protein, oatmeal and stevia. The company that makes this kind of snacks is located in Miami, so she will ship her products every week to maintain the freshness of her cakes.
Location is also an important thing, that is why I chose a location that is near the University of Florida, so students will be able to take an hour to exercise without having to leave the university which I think is a plus, because they will go when it is convenient for them 

• How would you organize a “business” to support the ongoing production of your new product, service, or process? How many employees? What roles are in the venture

Since I want to have two concepts under one business, I can have one receptionist that will take care of both, at least two persons taking care of the "restaurant" part plus two cookers. For the gym, at least 2 trainers to take care of different classes throughout the day 

3 minor things... 

• What will I have that competitors don't have?   I think my main advantage is that I am covering two concepts under one business, to make the customer daily routine easier and less time consuming 
• What is next for the venture? After creating this, I will also like to add a space for a spa, girls can get their nails done, enjoy a relaxed massage, or a facial 
• What is next for you?  If this store has success I would like to expand to different college towns to offer the same kind of business

28A

28A

1. Since the business idea that I propose is a service, I hope it lasts as long as possible to satisfy and meet the needs of my target market. It is an idea that this proposal to both the city of Gainesville and the University of Florida, so this service should last much more than five years

2. Well as explained in the previous service, my idea is to propose the service to the city of Gainesville and the University of Florida so the idea is that they will then be responsible for continuing with the service once implemented

3. I think it is a basic and necessary service, and I think it would also be necessary that later on, those in charge of continuing and taking charge of the idea (once it has been implemented and functioning) are in charge of the system that already exists, since my idea it is only a contribution to improve the existing one.

27A

27 A

Thinking, Fast and slow by Daniel

1. He presents his ideas on systems of thought, which are two: the system 1 that represents fast thinking and system 2 that represents slow thinking. System one operates in a fast way and drawing conclusions, provides the possibility of effectively controlling simple activities but also generates opinions errors. System two is only activated when mental effort and concentration are needed to complete an activity. His idea 2 is the associative memory and priming, priming is a first stimulus that alters our behavior. Idea 3 talks about the halo effect, it refers to the tendency that you like everything about a person, even what you do not know about a person, with positive or negative associations. Idea 4 talks about the law of small numbers, which says that when the observed sample is very small it is possible to draw an erroneous conclusion. The idea 5 talks about the heuristic of availability, information that you find first hand that seems more reliable but may not. Idea 6 talks about the heuristic of representativeness. The idea 7 is about the retrospective bias, it is the influence of the final result, it refers to judging by the final results.

2. Many times while doing assignments about looking for a business idea to develop I let myself be led by what I thought was necessary but after based on surveys, I realize that my idea was not as necessary as I thought it was. That's where the slow thinking system 2 would apply

3. I think it would be great to implement examples of idea 1 while giving a lecture, in order to see how students respond to certain cases and apply fast or slow thinking, to demonstrate and teach the importance of using the right kind of thinking

4. I think the book explains very well the idea 1, in many examples that are put in the book about whether you are system 1 or system 2, always falling for the trick because with quick thinking many times we accelerate our conclusions

26A

26A-

1) This semester I am taking business finance, the class that most business students are most afraid of. Despite having studied a lot for the first exam of this class I did not get the grade I wanted to obtain for everything I studied

2) However, the poor grade in the first exam helped me understand the precise way to study for this class. I dedicate at least 3 hours a day, I practice with the quizzes every time I finish a chapter and after that, when I am close to the exam I take the practice test given by the teacher and then I look for exercises similar to the ones that are in the exam. With the new procedure that I learned after the first exam, I managed to achieve a 95 on the second exam

3) Failure is definitely hard, after having tried so hard to get something and to not achieve it, it can be quite discouraging. However, I think that you learn from your mistakes and it feels much better to get something after much effort and dedication and that is exactly what happened to me in this semester with the Business Finance class

25A – WHAT IS NEXT?

25A – WHAT IS NEXT?

EXISTING MARKET

·      Step 1

What I think is next in terms of products is to add even more options to the menu, more snacks which I think is what people tend to fail the most when trying to eat clean, sometimes they buy a cereal or protein bar thinking it will be healthy but it is full of sugars and fats. Also add more trainers to implement different kinds of workouts during the day

·      Step 2

Fist interview: What should we be doing that we aren't planning to do?

She answered that she will add a sauna, so members can have a time to relax before or after their workout

Second interview: What should we be doing that we aren't planning to do?

She said that she will add a complete meal plan for specific results. Client see with the nutritionist of our company, and then we make all the meals for the day of that person, so she/he will be able to achieve the desired results

Third interview: What should we be doing that we aren't planning to do?

She said she will add to the menu vegan options

·      Step 3

I think that first I can extend the menu and add trainers so members will be more satisfied with the service. Then if I have enough success start adding things like the sauna

NEW MARKET

·      Step 1

Well, since I am offering my service to customers, If I have enough success I can start selling my products (meals and snacks) to other businesses so there will be more availability of the product

·      Step 2

I am thinking about selling online as well as to other business through the state

·      Step 3

Interview 1: from this interview, I learned that people will find my product more attractive if I offer a fast delivery

Interview 2: The girl I interviewed told me there are already companies with this concept so I really have to do something to stand out

·      Step 4

After doing the interviews, I realized that currently there are companies that cover this need. However, if I stand out the idea can have some potential. So, the idea is to interview the people with an online test to find what are they goals with their body, and their schedules and lifestyles… After that, a professional will create a specialized meal plan for that person and also an exercise guide with videos of what they need to do daily. We will keep track of every advance of the person every 15 days to make sure everything it is going as planned