Week 15 Reading Reflection

I think that what stood out to me the most from this article was the whole idea and intention behind SKS. I didn't even know about this business until I read this article. I think it's really interesting how it is all a cycle and how people actually have the best intentions for others through their small ventures. I did not find any part of the reading confusing. If i had to ask the author a question I would ask "What do you think is the most crucial factor of financially keeping up with a non-profit business that is trying to help others financially?". I did not find any part of the reading confusing, I thought it was very interesting and I am glad that it opened my eyes to something new and important.

Final Reflection

What sticks out to me as the most formative experience in these past few months is the whole journey in itself. I think I cannot recall one specific instance that I can say was the most formative for me. My patience has been tested tremendously. Being able to handle so many things at once has really impacted my life as a whole. I am most proud of myself for always pushing through and toughing it out. The amount of effort I put into everything I do always shows and I am rewarded for it.

Yes, I definitely feel that I have moved closer to developing an entrepreneurial mindset. I see myself as an entrepreneur. However, I have a lot to practice and much to go over. It is far too extensive to just jump into it. I think that people assume being your own boss and creating to be successful is easy. It is not and it is also something I would like to advocate before people presume the wrong things about the responsibility being an entrepreneur entitles.

One recommendation I would make to the students that are going down this path is to have an open mind. One has to be open to failure and many downfalls in order to achieve the goal in entrepreneurship. I think the best thing to say about succeeding in this course is to manage your time wisely. It is super difficult to so it's best to make lists and prioritize. 

Venture Concept No.2

Keeping in mind that I did not complete the first Venture Concept, it is safe to say that I am entitled to some room for error. 

            I know that there is so much opportunity within my field of service. I chose to give students a better way of transportation on UF’s campus. Keeping in mind that my service, Go-Go Rides, is a self service it makes sense that students are what make up the whole essence of my concept or business. Without them, it would be impossible to get my business going anywhere. I know and I state this with all confidence that my venture would not fail since students are the heart of it. They will be nothing but appreciative of my service. It is solely for bettering the lives of students, particularly UF students. Getting from class to class, meeting to meeting, or to anything important without the help of a promised parking spot on campus would not be of concern to anyone on campus anymore. There are thousands and thousands of students that feel the desperation everyday and there is not much that we can do about it, or that people think we can. I am very passionate about the unmet need of my customers and only wish to fulfill these needs, as they apply to my life as well. The difference between other ventures and Go-Go Rides is that customers are currently not satisfying their need of reliable and quick transportation from class to class on a daily basis. It is absolutely so crucial that students on our campus meet their need, considering that I too am a part of this community. In my opinion, this opportunity is absolutely immense. I do not believe that the “window of opportunity” will ever vanish or even decrease as log as our population remains and our parking lots relatively stay the same. It is absolutely impossible to build a space large enough for all of us to be able to park our cars at the same time. There are literally over 70,000 students in our community, which is a little ludicrous. I do not believe that we should succumb to the little or few resources that are offered to us. We should make the most out of opportunities that are presented in front of us through unmet needs. This is why I am so interested in this specific idea for a business concept because I know that it is not a temporary issue.

The innovation behind my self-service concept for my business is not radical. Go-Go Rides is a self-service bike rental that focuses on targeting UF students. Students will be able to rent on their own account with hourly rates. These hourly rates will rate from $2.50-4 per hour. It would be a little more to rent the skateboard since I feel they are more delicate. I am not selling anything; I am just providing a very convenient service for all UF students. I think that maybe rates will decrease more as it gets more popular.

Since there is not a service being offered already then I think it would be very easy to get the word out and advertise my venture. In this case, my innovation all depends on the way I approach how the design of the kiosk will be.

Elevator Pitch No. 4

In this last elevator pitch I chose to be even more enthusiastic than the last time. I also incorporated different factors that I've been thinking about for my service. I might have said um too much or paused at unexpected times but I really liked how I confident I was and how I didn't have to read off a paper or script anything before hand!

Week 13 Reading Reflection

The most surprising thing in this reading for me was how extensive and tedious the due diligence evaluation is. However, I can only imagine how essential and useful it would be to a business owner. I did not find any part of this reading confusing, I thought it was very interesting and informative. If I had to ask the author two questions I would ask "Do you think that a business owner could get by without a tool like the due diligence evaluation?" and "What do you think is the best way to keep records clear and organized as far as finances and clientele go?". I do not disagree with anything the author stated, I actually really enjoyed this reading.

Celebrating Failure

This semester has been the most challenging one thus far. It has shown me what I am really capable of handling and I think the class that has challenged me the most has been painting. My patience has been tested beyond my comprehension in that course. I learned that if you really want something you are the only one that can help yourself. No one is going to do anything for you if you just feel bad for yourself. The best way to approach a difficult assignment or work of art is to breathe and experiment. Without failure everything would not be worthwhile. I am a very emotional person so it is difficult for me not to let my emotions take over and affect absolutely everything. I think that this class in particular has helped me overcome my fear of failing. It has shown me that there is only one way to go after making a mistake and that is up. I feel that I am definitely more likely to take a risk now than I was four months ago. 

My Exit Strategy

1) I definitely intend to sell Go-Go Rides in the next 5 years for a large return or something along those lines. I do not think it is worth investing my whole life in it and going to the extent to pass it down to my children.
2) I have selected this particular exit strategy because I do not intend to stay in Gainesville for too long. I think it is something that would work well if students ran it too. There are many options I think.
3) I had not thought much about my exit strategy until I saw these questions. I think that it will influence decisions or opinions from now on.