Venture Concept No. 2

Opportunity 

There is no recycling pick up in Marion County, which creates an amazing opportunity. The only available options are the landfill and the small recycling trash cans at Publix. The environment is changing and more people are believing the effect humans have on the earth. Knowledge is readily available at the fingertips and I think people are more interested in recycling more than ever. Recycling can help reduce the effects of global warming significantly. I think the hardest part is conditioning people to use the service because even though people understand that global warming is real, ignorance still exists. When people start using the service I think they will be loyal. The reason being is because they will feel good about contributing to a healthier and green practice. This window of opportunity will last until someone created their own recycling venture. I would also try to strike a deal with the county so we can offer this service. 

Innovation 

The innovative service that I will be providing is curbside recycling pick up. This is not offered in the County. Instead of offering this service for a monthly or yearly fee. I want to get funding from the County to be able to offer this service for free. I want to be able to recycle as many items as possible. The service will be provided once a week. The pickup day will vary depending on location in the County. This service will also be provided to business owners as well. The service will also be using new recycling techniques.

Venture Concept 

Being funded by the County will make it easier to startup my venture. If I'm able to get this funding I won't have to worry about any competitors. People won't have to go out of their way to recycle, my service will come to them. I don't think I will have a problem with people switching if the serviced is offered for free. This venture will still have weaknesses and vulnerabilities. Many people today, still don't know how to properly recycle. That makes it very difficult for the service to run properly because of that. So, it will be our responsibility to teach everyone that's using the service on how to properly recycle.

Minor Elements 

My unfair advantage will be the funding from the County. Being able to get those funds will make startup easier and allows to stay afloat. As long as my venture does their job correctly, our funding should stop any competitor from gaining an edge in the service.

My next opportunity could be to start making items out of the recycled items. This opportunity can be focused on new and future customers. With the recyclables, you can make new shirts, foam packaging, and many other items.

In the next five years, I would like to expand and gain funding from other counties to start the service in their county. The more counties the better, I'm focused on make the environment cleaner. The earth is a beautiful place and it would be a shame for the human race to destroy it. As an entrepreneur, I would focus on projects that can possibly reverse the effect of global warming.

Feedback

I have gained some really good feedback that helped me revise the assignment. One of the ideas was that I should try to get the County to fund my service. Another was that it would be hard to convince to recycle.

So, based on the feedback what I have changed instead of charging for the service I will gain funding from the County.  This way people don't have to worry about affording the fee and everyone can recycle, the more the better.

Final Reflection

                                    


This entire semester has been a roller coaster for me, so it's a good thing that I love roller coasters. Even though I dread the struggles, something in me enjoys it at the same time. Struggling allows me to learn and improve. I hated doing the elevator pitches, but it has honestly made me improve on my conversational skills with people. This course has been one my favorites in my journey through college, also the Professor is cool.

I have gained a lot of experience this semester. The course has taught me it that it is ok to fail, but it's what you do after the failure that matters. That's going to stick with for a while, maybe forever. I'm proud that I was able to keep up the course load and get a good grade in the class. This course on top of my other courses has made it difficult, but I have succeeded.

I'm not sure if I would technically call myself an entrepreneur, but I have gained that mindset. If I wanted to be an entrepreneur I know where to start now. This course has given me the knowledge to succeed and to keep working through failure. I know where to look for opportunities.

To be successful in this class you have to PLAN ahead, emphasis on the plan. You have to make sure you have enough time to complete your assignments alongside your other classes. It's ok that you fail in your elevator pitches and have trouble with other assignments. The whole purpose of the class is to improve your entrepreneurial skills.

Your Exit Strategy

1&2.  I would want to keep this business venture in the family and pass it down to my children, that's ideal for me. The reason I chose that y venture is that I would love to have a family business You get to work closely with family and keeping the world cleaner and more sustainable while doing it. The children could come up with innovative ideas that change the way we recycle. Our family could be known as advocators for a healthier environment.

3. I think my exit strategy has influenced my venture. Not that I care about the money, but it would be nice for my family to not worry about it. So I guess that's why I would want my company to grow and expand into different cities. It's a dream of mine to run business with my children, maybe because that means I have succeeded in life and they will too.

Reading Reflection No. 3

Entrepreneur: Berry Gordy

What suprised me the most?
Berry Gordy started one of the biggest record labels called Motown at the age of 29 with an $800 loan. This is the record company who produced artists like Micheal Jackson, Marvin Gaye, Stevie Wonder, and other popular artists. With that said, the creation of Motown helped influenced the music desegregation. Berry Gordy is a legend and after reading his autobiography I can see why. He influenced popular music for generations, with his taste and love for music.
What about the entrepreneur did you most admire?
What I admire the most about Berry Gordy is how he made the company. He started the company with an $800 loan. He fought through adversity, but his passion for music drove him.
What about the entrepreneur did you least admire?
Even though he did great things to make the record label there has been many cases of his artists saying that he cheated them, he refuses. Even though he refused the charges, why would the artist assert such allegations if not true?
Did the entrepreneur face adversity/failure?
Absolutely, Berry Gordy founded Motown in the late 50s, the 50s were a rough time for minorities. He fought that through that adversity and created an all minority record label, which was the first one. Like I said before, he helped influence desegregation in music.


What competencies did you notice the entrepreneur exhibited?
Benny Gordy was innovative, but he also radically innovative. He created the first all-minority record label. He had an ear for great music and was able to create something special at Motown records.

Identify at least one part of the reading that was confusing to you.
At certain points in the book, it can get boring like most autobiographies( at least to me), which made parts hard to follow.

If you were able to ask two questions to the entrepreneur, what would you ask? Why? 
First question: How did you create something this special?
Second question: How did you find all of these talented artists?
I think these questions are important, Bery Gordy found many amazing artists and it's amazing. But, not only that that. He created a special innovative business that changed popular music forever.

What do you think the entrepreneurs opinion was of hard work? Do you share that opinion?
 He created one of the biggest record labels at the age of 29. I would agree that is hard work. Especially getting artists such as Micheal Jackson, Marvin Gaye, and Steven Wonder.

Celebrating Failure

1.  My failure deals with forces outside of class. I've been getting into the creation of music lately, mostly progressive types of metal, but other melodic genres. Examples include The Contortionist, Volumes, thenightyouleft (yes it's one word), and Saviour. I picked up learning the guitar and drums over a year ago, but I still consider myself a novice and not really great at either. With that said, I'm still learning and progressing at each. School has made it difficult because it's hard to find time to practice when you have friends and family. When I sit down to create something, my creativity seems to be sucked out of me. I understand that I won't be able to create anything technical, but I can play simple things that sound decent (at least to me).

2. What I've learned from this experience is that everything will be ok. It's not an ideal situation, but this failure could be something a lot worse. The good news is after school I will have more time to practice and create music that I love. I will continue to get better and work on my recording and mastering of music as a hobby.

3.  Of course, failure is dreadful, but it's apart of life and makes us better. I'm usually really harsh on myself after failure. Lately, I try to not let things bother me anymore emotionally because it's unhealthy. Family and friends get me through the difficult times. This class has shown me it's ok to fail, everyone fails, even the popular entrepreneurs. I have noticed myself taking risks more often than I have ever before. I'm not sure if the class has made me for confident or it's just me growing up.

What’s Next?

Existing Market

What's next for my recycling venture? I think there will be opportunities to grow and expand in the market. After discussing my venture with the three interviewees, they have given me their opinions on the matter. The interviewees think I should get ready to reduce prices, they think the $18 a month service may be a little pricey. They also talked about how expensive it may be to start up this venture, which is true. I asked, what should we plan for next as a company? They also said possibly expand, if the company succeeds. They didn't really have much more to offer than that. It's difficult to come up with other opportunities for recycling, but it's not impossible.

I think it would it be possible to grow and expand in the market. Reach other cities that don't provide people with curbside pickup. For this venture to grow I may need to reduce pricing. I would keep that in mind, but $0.60 a day is reasonable. For this venture to grow I will have to persuade future customers the benefits of recycling. With the internet, there are many ways to advertise a business.

The interviews helped me figure out what I need to expect. Their opinions are useful and can help contribute to making a stronger venture. I wish they would've given more information on venture though. But, I know it is tough to come up with other opportunities in this business. I know the opportunities are there I just have to find them.

New Market

My company would be in a business to consumer market, but with a radical change in markets, I would be a business to business market. For this venture to work I will have to obtain businesses to use my recycling service. This would be a mutual benefit.  During these interviews, I have received useful feedback. My service would allow these companies to be more sustainable. They could show their customers that they green practicing company by recycling. Also, I may need to find alternative recyclables instead of just paper, plastic, batteries, and aluminum 

I agree that my venture could help other companies practice green methods. Like the interviewees said, I could offer different types of recyclables. Some of these different types of recyclables could include rubber, glass, and metals. The more recyclables I can offer the more opportunities I have. 

This market is just as attractive and possibly even more than the business to consumer market. I may be able to grow faster as a company I can receive more opportunities in these businesses. The interviews helped shaped more of my venture and allowed me to think more over my concept. It was surprising that the interviews were that useful. It gave me fresher ideas to be more innovative.

Venture Concept No. 1

Opportunity

In Ocala, FL there is an absence of curbside recycling. Since there is no curbside pickup the alternative is the landfill, which is located on the outskirts of the city. Curbside pickup is a need amongst the people who would like to recycle, but don't have time to take the trip to the landfill. Like I said before, the alternative is the landfill. People are more interested in recycling compared to the past. With technology, news, and the internet, everyone is more aware of global warming and our human waste problem. It's easier to communicate the benefits of recycling. Recycling significantly can contribute to the reduction of greenhouse gasses. Now with the escalation of global warming, recycling is needed more than ever. With 75% of the waste being recyclable and only about 30% is recycled. This opportunity may not last forever, because the county may eventually try to fund their own program. I think would be loyal to recycling, when they see their contributions are keeping the county cleaner and more sustainable. Others would enjoy seeing the landfill reduce in size. Marion County is the biggest county in Florida. With that said, I think it is time for the county to be green. 

Innovation

The innovative service that I will be providing to clients is a curbside pickup of recyclables that include plastics, aluminum, batteries, and paper. This service will be offered at a price of $18, which is $0.60 a day. The yearly subscription of the service is $180, that is a savings of $36 a year. How does this service work? Every Thursday there will be a curbside of all the recyclables, the recycling bins will be provided. The company will be providing new ways of recycling, technology today has made recycling more effective. None of the operations will be radical for they have been done before in the business. The company will be using the latest recycling methods.

Venture Concept 

It may be difficult to get customers to use my service because they are not used to paying for recycling. The reason why they may switch from the usual landfill drop-off is that it can be time-consuming. Everyone doesn't have the capability to take their time out of the day to do recycling each week. We live face paced world now and people don't have time. The competitors include landfill and the small recycling bins at Publix. This venture has its weaknesses and vulnerabilities. Many people are still ignorant of global warming and the effectiveness of recycling. My service is also not free, the landfill offers the recycling for free. There are more strengths than weaknesses for this venture.

Minor Elements 

What sets me apart from competitors right now is the curbside pickup. The business niche will be the secret sauce for the company. The company will approach challenges and offer innovative types of recycling. This will make it harder for competitors. I want the company to have a clan structure, which is a family type culture in an organization. The company vision is to see a cleaner environment and for companies to be more sustainable.

My next opportunity could be to make products out of the recycled items. Recycled plastics can turn into shirts, sweaters, and even foam packaging. The recycled papers can be made into office paper, toilet paper, and cardboard. This opportunity could be targeted toward new and current customers. There are many things you could create with recycled items.

Where do I see myself in 5 years after venture launch? I would like to venture and other cities that don't have curbside pickup. The more people recycle the better. My vision is to see a healthier, cleaner environment. I want to help reverse global warming if possible and start getting rid of landfills. 

Your Venture’s Unfair Advantage

Venture Resources

• Resources: Social capital, Education, Business Plan, Recycling Method Ideas, Human Capital, Loan Startup Capability, Investor Capability, Growth Capability, Niche, Entrepreneurship.

VRIN Analysis

Social Capital
How is it valuable? 
It's important to be friendly and keep relationships internally and externally.
Rareness?
It's not rare for a company to have social capital.
Imitability?
It's not difficult to imitate this resource.
Non-substitutable?
There is no substitute for social capital.

Education
How is it valuable?
It's critical to have knowledge on the subject that you're managing your venture off of.
Rareness?
This is 50/50 because many people don't know the factual benefits of recycling and keeping the world clean. Competitors should know the benefits.
Imitability?
Education on the subject is not something you can just imitate. Is it possible to learn? Absolutely, it would just a lot of research and dedication.
Non-substitutable? 
You can't replace any other resource with education on the subject.

Business Plan
How is it valuable?
The business plan sets up my mission, vision, and goals as a company.
Rareness?
It would be rare for a competitor to have the same business plan as me. Especially the same mission, vision, and goals.
Imitability?
A competitor could imitate my business plan.
Non-substitutable?
The only substitute would be to not have a plan to successfully t startup the company.

Recycling Method Ideas
How is it valuable?
The innovative types of recycling methods including a bacteria method that devours the hardest plastics.
Rareness?
Some of the methods will be rare because it's new technology, but other methods won't be rare.
Imitability?
The recycling methods are definitely imitable.
Non-substitutable?
Each method could be replaced with another method, there's multiple ways to recycle an item.

Human Capital
How is it valuable?
It's important to invest in human capital because it contains the necessary knowledge and skills for the organization to succeed. Also, it's a strength in the SWOT analysis.
Rareness?
It's not rare for a company to invest and have human capital. It's important to have in an organization.
Imitability?
Every organization could imitate the idea of human capital, but they wouldn't have the same knowledge and skills as my company would.
Non-substitutable?
There is not a substitute for Human Capital.

 Loan Startup Capability
How is it valuable?
Being able to get a business loan is valuable to get the organization started.
Rareness?
It's not rare to get a business loan, many small companies start off this way.
Imitability?
Yes, it is imitable. Other companies can follow the same suit and get a startup loan.
Non-substitutable?

There is substitutes to a startup loan. You can have investors or even use your own money.

Investor Capability

How is it valuable?

It's ideal for a small company to have an investor at the startup,, so it makes it valuable.

Rareness?

It's not completely rare for a company to have investors.

Imitability?

You can't really imitate investor interests in a company. My company is definitely capable of getting an investor because of the lack of recycling in Ocala.

Non-substitutable?

There is substitutes to investments company.

Growth Capability

How is it valuable?

The ability for your company to grow is important, therefore valuable.

Rareness?

For some companies it can be hard for them to grow, so it can be rare, but not always.

Imitability?

Growth capability isn't something you can imitate.

Non-substitutable?

There is no substitute

Niche

How is it valuable?

A business niche is important to target specific market needs and demographics, including segments and price range.
Rareness?
It would be are for a company to have the same business niche as mine.
Imitability?
It is possible to imitate, but not likely. The competitor would want to have a different price range and probably focus on a different market than my company.
Non-substitutable?
A company doesn't need to have a niche and there is some alternatives.

Entrepreneurship

How is it valuable?

It's valuable to have the entrepreneurship state of mind because of wanting to be innovated and focused on opportunities. 

Rareness?

It can be rare to have that state of mind, it's not for everyone.

Imitability?

It would be hard to imitate the same ideas, but it's possible.

Non-substitutable?

There is substitutes to being a entrepreneur.

My business niche is the most important resource to me. The reason why is because my company niche is what makes the company different from the others. Focusing on different markets, having a different price range than competitors is just some examples. Our niche is focused on those who want a great recycling service, with the price around $15-$20 a month. We want to offer different types of recyclables. It want to also offer innovative ways of recycling.

Elevator Pitch No. 3

1. https://www.youtube.com/watch?v=QB4MY9GCcPQ&feature=youtu.be

2. The feedback was helpful once again. I didn't think there was any unreasonable advice. The entire group is really helpful when offering their opinion on the elevator pitch.

3. This time for my pitch I took feedback into consideration. I tried to record where there wasn't a window directly behind because there were lighting issues. The difficult part is that there is a window everywhere in the house, but I tried my best. With that said, I tried to make the pitch not sound like a speech, which was difficult when looking at a screen. I did feel more comfortable with the camera though because I have done this pitch a few times now. Thank you for the feedback, and look forward to more of it.

Reading Reflection No. 2

1) What was the general theme or argument of the book?

 Innovation and Entrepreneurship by Peter Drucker is about the strategies of leadership, the importance of innovation, being a proficient manager, and entrepreneurialism in business. Peter Drucker provides exceptional analysis and information into the business world.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

Peter Drucker just gives excellent insight into ideas that we're already learning in the class. He talks about taking risks, being innovative, don't be systematic because it's boring.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

My exercise would involve a group, and there would be questions that would ask each member for their innovated thought. After, the group could rate each other's thoughts. The purpose is to experience and exchange thoughts. There is no right or wrong answer in the exercise.

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

The book was inspiring because Peter Drucker brings up how entrepreneurs keep the economy going. Even through recessions, especially in the 60s and 80s, where there was job growth from small and medium-sized businesses. 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

Elevator Pitch No. 2

1. https://www.youtube.com/watch?v=KnKQUJXca14&feature=youtu.be



2&3. What stood out the most is how much everyone supported the video. I think everyone understands that not everyone will be a great public speaker on their first try. I didn't think any feedback was silly, most of it was useful. I know I needed to make the pitch longer, and that I needed to work on my tone. I can get anxiety sometimes for the most ridiculous reasons, but I always get through it, and you could see it in the video. For the next pitch, I tried to work on my tone, stance, length, and attitude. It still needs work, but I  think I have improved, and that is what matters to me. Thank you, classmates, for the feedback and I'm glad we get to work with each other for this semester.

Create a Customer Avatar

Hobbies: Hiking, Golfing, Fishing, Kayaking.
Vehicle (color: white, blue, green): High mpg or battery powered Sedan/Suv.
TV Shows: HGTV, History, Discovery, HBO, ESPN, CNN.
Children: Maybe
Favorite Books: Harry Potter, The Stand, Lamb.
Favorite Politicians:  Bernie Sanders, Ralph Nader, Barack Obama.
Age: 21-45

What do I have in common?
I enjoy golfing, kayaking, and fishing. I have a high mpg Ford Focus, but the color is silver. I don't really like watching HGTV OR CNN, but similarly, I like HBO, ESPN, Discovery, and History. I'm not really into reading books at the moment because the University requires so much of it already. Bernie Sanders was one of my favorite politicians in the past election, alongside Gary Johnson. I am 21 years old and I find all the similarities just coincidences. I don't think what a person likes and doesn't like gives an understanding of that person's ideology, well politically it does, but that's all. I grew up in a Republican household, but I grew up and forged my own ideologies. People can like different shows, vehicles, hobbies, politicians, and still would want to recycle.

Idea Napkin No. 2

1. Name: Christian Lawson
Skills/talents: Problem Solving, Collaborative, Adaptability, Focus, Work Ethic.

I have experience working in a doctor office and working outside for a utility company. My aspirations are still to graduate from the University of Florida and starting a career in the front office of a sports organization. Since I've always been inspired to help clean the environment because it's such a vital part of our humanity, my business would play a huge role in my life. It would be quite a change and responsibility, but worth it at the end ( hopefully).

2. My service will be providing customers with a curbside pickup that includes paper, plastic, aluminum, batteries, and glass. The idea is to inform the public of the importance and benefits of recycling. Eventually, if there's success, I would plan to branch out to different cities.

3. To be successful, I need to branch out to people who are concerned with pollution, waste, and the environment. Also, branch out to those who are opened minded to the idea of recycling. 

4. Customers would pay for this service because they know the importance of sustainable practices and a clean environment. Recycling significantly reduces pollution. It's also a convenient curbside pickup that includes paper, plastic, aluminum, batteries, and glass.

5. My service provides the convenient curbside pickup that no one else provides.

I can use my talents and skills to help gain customers for the business. Showing people the importance of customers can help persuade them into using my service. There can be some weak points. It may be hard to get people who don't usually recycle, pay for the service. Even though no one else provides curbside pickup, there is recycling at the dump that is free. It may be difficult to branch out to different counties too.

From the feedback, I know now that it will be a  tough startup. The service can't be too expensive and when successful I will branch out to different cities/counties. It will take a lot of resources, but everything is manageable.