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29A – Venture Concept No. 2

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Opportunity: The opportunity I found has to do with students and faculty at the University of Florida who like coffee but do not have the time to go to a store to wait in line for their coffee. These people have busy schedules and like to have a convenient option available for them when they need things. This is why I am starting a portable coffee bike. I will be able to meet customers in places like Turlington saving them time and cutting down on wait times with a flavored, premade coffee product. My customers are people who value quality coffee and their time equally causing them to seek a higher degree of efficiency in their schedules. Waiting for coffee in a 20-minute line at Starbucks isn't always an option for people on campus. The nature of this need is that there is a lack of convenient coffee options on campus. In our increasingly convenience-driven society, students and faculty are searching for ways to fill their coffee addictions in a more efficient manner. Because t...
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30A – Final Reflection

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This semester for me has been really fun! The most formative experience was by far the development of this plan. I have been able to walk through a business concept in ways I hadn't imagined prior. Planning my exit strategy and learning what the customers want most and valuable tools that I would've thought to do much later in the process than I have learned here. I was forced to walk around and talk with people and learn the habits of UF's many coffee lovers. The interviews are what I will remember the most because they have been unlike any assignment I have been given at UF up to this point. I am proud of myself for stepping out to talk with people. I believe I see myself with entrepreneurial qualities and characteristics, however, I don't see myself as an entrepreneur. It is hard to explain but it seems as if I am wired in a different way. Over the course of this class, I have made much progress in this development and will continue developing this mindset which I...
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27A – Reading Reflection No. 3

Inbound Marketing by Brian Halligan 1) In this book, Brian Halligan and co-author Dharmesh Shah talk about a new revolution of marketing. Away with traditional marketing techniques and in with new, internet marketing tips/tricks is the main theme of the book. In a world where "outbound marketing" is becoming less and less effective on consumers, companies must adapt to get ahead of the curve by developing effective "inbound marketing" strategies, i.e. utilizing SEO, social media, PPC ads, and blogs to increase market exposure. 2) I chose to read this book because Professor Pryor mentioned that is was one of the top two books on the list. I was hesitant because it is from 2010, however, I realized when reading it that Pryor learned a lot from its content. This book talks about how to market your company and gain exposure with are the next steps to take with the plan we have for our respective companies. Halligan's instructions on creating blogs have helped m...
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28A – Your Exit Strategy

My Exit Strategy My exit strategy for my business is simple: I want to run and establish my company for seven years before selling out. I believe that in seven years my company will have expanded to 5 coffee bikes functioning at full capacity at different places on campus every day. In the breaks (when students are on break), I believe we will have a high demand for our services throughout the Gainesville community. When the opportunity has been exploited, I will sell out, potentially to family. I would like to step out of the business at this time because I believe that college campuses will no longer be used like they are right now .  Online schooling has the potential to really hurt on-campus businesses as the future of high education is online. Also, it is demanding work with an opportunity ceiling that is reachable in those seven years. I have chosen this strategy because I believe that new ideas must be brought into to a company in order for it to maintain success. I wil...
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26A – Celebrating Failure

1) This semester I was interviewing for Gators of Tomorrow (G.O.T.), a leadership program for the top 25 Freshmen at UF, when I failed big time. I had made it to the last stage of interviews and with much preparation, I felt beyond ready. I had planned what I was going to say and which ideas I would propose when they asked what needed to change on campus. However, during the interview, the President of G.O.T. put a weird spin on the question; no worries, right? I changed my entire answer away from what I had planned to say and it was a flop. I ended up not being accepted into the program due to this on-the-spot failure to stick to my plan. 2) However, I took a very positive life-lesson away from this. Be prepared and then stick to your preparation no matter what comes your way. It is likely that things in life will turn out differently than you anticipated, however, don't walk away from your plan. 3) Failure is brutal; I find it so hard to wrap my mind about the positive benefi...
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23A – Your Venture’s Unfair Advantage

My Unfair Advantages My Passion Valuable: Yes, new businesses need this. Rare: No, there are millions and millions of passionate people. Inimitable: No, passion is developed by experiences and cultivation. Non-sustainable: No, one can prevent burning out through careful care and consideration. My Work Experience  Valuable: Yes, I won't be stepping in clueless. Rare: No and Yes-on this campus, yes, overall, no. Inimitable: Yes, my work experience in my life is unique and special.  Non-sustainable: These are experiences crucial to being successful in this industry. My Adaptability Valuable: Yes, life is always changing and I must be willing to adapt to change. Rare: No, everyone during this COVID-19 pandemic is developing this trait. Inimitable: No, everyone can develop this trait if they work at it. Non-sustainable: It is learnable which means the trait can be adopted/become second nature. My Strong Work Ethic Valuable: Yes, you won't succeed without t...
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25A – What’s Next?

Existing Market Step 1: The next step for my business is to build a system that each of my coffee bikes can follow. This system will be one that optimizes our routines to let us speed up our lines and decrease wait times. This will allow us to branch out beyond simply selling coffee, opening coffee bikes for malls and other markets. This system will keep our quality and service consistent across our many future platforms. Step 2: This part of the assignment got cut; because of this, I haven't interviewed any customers in my market about the potential next steps of my coffee business. Step 3: First, I need to get operational. This means getting my license to sell on the UF campus and getting my coffee bike ready to sell. I will also need to come to terms with the Ellianos corporation to determine how I can make my coffee product. Once I have my product, my bike, and my license, I will be operational. When I start selling, I will be out of the estimations and into the real wo...
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