Assignment 23A – Your Venture’s Unfair Advantage

Resources in my venture:

1. Financial Support from Potential Investors

a. Value: This resource is very valuable to my business and will allow me to pursue my opportunity.

b. Rare: Somewhat rare, it depends on who your investor is and if they are involved.

c. Inimitable: This is easy for others to copy, especially with how you started your business.

d. Non-substitutable: Other resources allow you to still get your business started, like other businesses.

2. Network of Partnerships to Help the Business

a. Value: This resource is very valuable because these people in your network can help you with starting your business.

b. Rare: Somewhat rare because others might have special people in their network too. However, I have a unique set of people that I know that can help me succeed in my business. 

c. Inimitable: Others can obtain people to help them with their businesses, so this is easy to copy.

d. Non-substitutable: There are other resources like the internet that can help people. However, my network is not replaceable and unique.

3. Dedication

a. Value: Very Valuable to any entrepreneur or someone that is striving to achieve their goals. 

b. Rare: I consider my dedication very rare as I believe that I am the most determined person I know, and my friends and family would agree with me.

c. Inimitable: This is very hard for someone else to copy because dedication comes from your heart and mind and experiences. Not everyone has the dedication I have.

d. Non-substitutable:  There are no other resources that can provide the same benefits, so this resource is non-substitutable. 

4. Unexplored Market for Scooter Courses

a. Value: This is the most valuable resource because there are no courses in Florida, and if there were any, they don’t offer a discount on buying a scooter.

b. Rare: This is very rare because there are currently no scooter courses offered in the state of Florida.

c. Inimitable: There is no competition and so it would be hard for others to copy this resource.

d. Non-substitutable: There are no other resources that can provide the same benefits, so this resource is non-substitutable.

5. Leadership

a. Value: Very important and valuable in starting a business and getting people to follow your lead.

b. Rare: This is rare because the leadership style and knowledge that I possess is different for everyone. Based on research leaders are mostly made, and only somewhat born. 

c. Inimitable: This can be easily copied by other people from learning new styles and how to be a better leader.

d. Non-substitutable: Some resources can provide the same benefits, like professional help from people in a leadership position.

6. Employees

a. Value: They are important and valuable to help you start conducting your business and help customers.

b. Rare: Somewhat rare depending on the type of people that you have working for you, then it becomes not so rare as more time passes.

c. Inimitable: It is easy for others to copy and obtain employees for their business.

d. Non-substitutable: Other resources are depending on your business that can allow you to achieve the same benefits as automated systems (A.I.).

7. Social Capital: Important Supplier for my business is Jeremy Smith. He is the manager and part of the Market Analytics & Product Education Group for Kawasaki Motors Corporation.

a. Value: There is so much value in knowing and being able to contact this person. This person is so valuable to learn how to educate riders.

b. Rare: This is very rare and not that many people can have a supplier like this already.

c. Inimitable: It is hard for others to copy this because they don’t know this person, and as an entrepreneur it is about who you know, not what you know.

d. Non-substitutable: There are no other resources that can provide the same benefits, so this resource is non-substitutable.

8. Location of my Business

a. Value: There is value about having my business in Gainesville with a large population of scooter riders.

b. Rare: It is somewhat rare; it depends on where you decide to conduct your business and if there are a lot of scooters in that city or town.

c. Inimitable: It is easy for others to copy by just opening their business in the same town or a college town.

d. Non-substitutable: You can get some value by going to a different city with a college nearby, it will depend on the percentage of scooter riders.

9. Equipment

a. Value: The is some value from my product/service mix because they are unique and nothing like it in the market.

b. Rare: This is reasonably rare since this mix is new to the scooter industry but not the motorcycle industry.

c. Inimitable: It is difficult for others to copy because they would need to get all the businesses to be in sync with each other. 

d. Non-substitutable: There are currently some other resources to provide the same benefit. For example, motorcycle courses and the internet.

10. Knowledge of Business Management and how to apply them to my business

a. Value: My knowledge is useful for helping my business progress and attract committed employees.

b. Rare: This has some rarity because for my age and where I am at in life compared to the same age group, I benefit from my knowledge.

c. Inimitable: Others can copy this with the internet or books to achieve the same benefits.

d. Non-substitutable: You can research these things on the internet to obtain the same benefit. However, my knowledge and experience is unique and non-substitutable.

Top Resource: In conclusion, my top valuable resource is my unexplored market for scooter courses and being able to obtain a new or used scooter. VRIN has allowed me to acknowledge my most valuable resource and will help me take advantage of it. The reason it is the most valuable because it is very valuable, rare, can’t be copied by others and not many other things that can be substituted with it. There is currently no competition with my product/service mix and it’s hard for others to get the same value if there were any substitutes in my market.

Assignment 22A – Elevator Pitch No. 3

1) Link for Elevator Pitch No. 3:

https://www.youtube.com/watch?v=3toVT-Oacuw&feature=youtu.be

2) The feedback that I received on my previous elevator pitch shows that I did improve a lot from the first time and that I perfected it my second time. The feedback that I found important is that eye contact and the practice that I put into the pitch will help me reach my audience. The feedback I received on my power stance shows it was a key factor this time with proper eye contact, enthusiasm and knowledge of my pitch. Based on the feedback on my previous pitch, it shows that I rose to the challenge of fixing and perfecting my pitch. This new improved pitch will allow me to connect with my audience better about my product/service mix.

3) According to the feedback, I did not change anything with my previous pitch because I received positive feedback and nothing negative to improve on for this new pitch. Even though the feedback was all positive, I decided to self-critique my elevator pitch and do some minor fixes. I decided to dress up nicer for this final elevator pitch. Next, I practiced and memorized my speech more so I can make sure there is even better eye contact on this pitch. Finally, I fixed up the speech by fixing anything grammatically so it can flow better.

4) I found a lot different from the first time to this time that I completed the elevator pitch. My pitch is almost or is memorized because of the amount of times that I practiced and did the pitch. I am a lot more comfortable speaking to the camera and looking at it as if I was talking to a real audience. Finally, the pitch is overall better now after three times than it was the first time. This is due to the increased practice and knowing my pitch better, so I am more confident about my product/service mix.

Assignment 21A – Reading Reflection No. 2

How to Fail at Almost Everything and Still Win Big, Scott Adams

1) The general theme of this book is how the author learned to take care of himself first, so then eventually he could go from loss to loss, until eventually, he won big. Adams shares his story about how he kept himself happy, motivated and healthy through this difficult time of failing. The successive failures in his life mounted up and it all eventually led to his success in life. He suggests that you need to first look after yourself and your life before you look to anyone else. The reason for this is because if you don’t look after yourself first you will become a burden on your friends and family. The author shares a strategy of inviting failure into his life, embracing that failure and then overcoming it to ultimately succeed in life. Which he makes choices in his life to maximize his energy so then it will be easier to manage other priorities in your life.

2) In my opinion, the book connected with and enhanced what I am learning in ENT 3003 by it shows that through perseverance and pushing through the tough times makes you a better person and leads to success. The book enhanced that tenacity is very important for someone to have especially as an entrepreneur. You need to be very determined in your life if you want to succeed either with a new product or in school. Success is not wished for or given; you must pursue it effectively with a schedule that keeps you on track. This book has connected with my knowledge from this course and showing that your mindset and determination are vital in everything you do.

3) After reading this book, the exercise that I would is for the entire class to pick something that they are good or successful at and take that feeling of success and apply it to something else in their life. Then after doing that, the class will reflect on the steps that they took to apply the success and the outcome. If the student fails at applying the success to something else, then they can embrace it and reflect on what they have learned and what they’ll do differently. All the exercise parts will be included in a blog post. The blog post will allow other students in the class to read about other students’ experiences. This exercise is about how to apply a successful mindset to life because success can be habit-forming. You may not succeed, but that is a part of life, what you must do next is get back up, and learn from it for the future.

4) I learned from the book is it constantly states to look after yourself or in words from the book to have a selfish form outlook on life. This outlook is something different from my expectations because throughout my life I have been taught to look after your friend and family first before yourself. Most people I know are not selfish, so at first, reading this and going through some of the book I was surprised that the author said to be selfish. However, after reading the book more and understanding what the author was explaining I agree with the author’s point of view. For example, one of my favorite statements from Scott Adams was, “The most important form of selfishness involves spending time on your fitness, eating right, pursuing your career, and still spending quality time with your friends and family.” This statement resonated with me and I believe it is a great philosophy for some to live their life.

Assignment 20A – Growing Your Social Capital

1. Domain Expert in my Industry: The first person I interviewed was Joe Williams, and he is the lead sales representative for Powersports USA. He has been working with them for 5 years and he sells motorcycles, scooters, and anything dealing with their equipment. He is the domain expert for my product/service mix. Mr. Williams fills this spot because he has been working around scooters for some time and owns a motorcycle himself. He knows scooters and motorcycles and knows what it is like to sell scooters to college students. The way that I found the person was looking up local scooter places in my hometown and then picking one to go to talk to someone. He was the first person I approached, and he happily talked to me. The favor that he did for me was offering me valuable and vital knowledge of the scooter market today and some more facts about scooters that I did not know already. The return expectation is that I will refer some people I know to the store so they can check out the merchandise they are selling. Including this person into my network will enhance my ability to exploit this idea by I will have a better network connection on more information about trying to sell them to college students and more things to learn about scooters.

2. Expert in my Market: The second person that I reached out to was Mr. Joe Wilson, and he is a Division Manager for Motorsports Training Yamaha Motor Corporation. He has been with Yamaha Motor Corporation for approximately 12 years and he loves what he does. He is going to be the market expert for my industry. He fills this spot perfectly because he is targeting the same market with a similar service and will help me gain vital research. I found his information on the internet and decided to contact him via email. The favor he did for me was that he shared his knowledge on how to better research my customers so I could better attract customers to my product/service mix. The return expectation was that I will update him on my service and how I am doing on it. Having this individual in my network will allow me to gain insight on how to attract more customers to my service. Also, it will help me have an ability to network with him and others that he knows.

3. Important Supplier for my Industry: The last person that I contacted was Jeremy Smith. He is the Manager and the Market Analytics & Product Education Group for Kawasaki Motors Corporation. He has been with his company for 20 years. He will be my supplier and he fills this spot because he has been with the company for a long time and has more connections with the education world for two-wheel transportation. I found the person on the internet and decided I was going to email him and find out more information regarding selling my services to other firms in my industry. The favor that he will help me with how to supply the riders with vital riding and safety knowledge. He said that he just expects me to use this information so I can succeed with my idea to keep roadways safer. Also, I will keep in contact with him as well with the help with my idea from him. By including him into my network it will aid me in gaining more knowledge on the education aspect for my service. Then it helps me have more people to help me with getting my business idea to others. This process allows me to gain businesses to offer the scooter to the rider for completing the course which will increase their sales.

Reflection: This experience will shape how I network in the future by I will be more confident to approach people to gain insight into what they do and if they can help me. This experience is a great place to start so then I will have a bigger network of people to communicate with. Yes, this experience did differ from my past networking experiences because I was selling myself to the people in the past. In this situation, I am selling my idea and solution to them, so I can gain valuable knowledge about the market and industry. I am selling myself somewhat, so these experiences have some things in common, but I had a specific mindset going into this networking experience. This experience was successful and will be worth it in the long run.

Assignment 19A – Idea Napkin No. 2

1) I am a senior at the University of Florida (UF) majoring in Business Management. I have switched my major from Engineering to Business while going through my educational journey at UF. Some of my key talents and skills are Leadership, decision making, reliability, communication skills, athleticism, integrity, and dedication. Also, I am in Air Force ROTC, so I have gained experience in Leadership, decision making, communication, and integrity. Some experiences are that I have played football since I was about six years old, I have played soccer for some time as a kid, did track & field in high school, and won the scholar-athlete award in the District 7A high school football state championship. My successful completion of AFROTC Field Training has shaped me because it is a 13-day intense leadership evaluation while being under tremendous stress. Switching majors while being in college has also made me into the person I am because I had realized I wanted to do something that I have an interest in. Upon graduation from UF, I will commission into the Air Force as an officer and I will start my career. I will still be using my education in management as I will be applying principles learned in my classes to my leadership and management style. If I were to start this business, it would make my life busier, but it would also provide something I could do in my off-time and help run it. This business will help make me some more money, so then I can help change the world by helping keep scooter riders safe. This business will help me learn some business techniques and some valuable life lessons as well.

2) The service that will be offered to customers is a scooter course at local dealerships that offer scooters. This course will help educate new or current scooter riders on the proper driving and safety skills. Also, people who complete the scooter course will obtain a discount on a new or used scooter. The idea of pairing up the service with the discount on a scooter will help not only the people taking the courses but will also help the dealership make more money. Everyone that completes the scooter course will gain vital rider and safety knowledge. Also, there will be more money that will flow into the market and the economy. The unmet need of people that ride/own a scooter that lack rider and safety knowledge will decrease.

3) In general, people that have been involved with a scooter in common by either owning, riding or having a thought of owning a scooter in the future are all customers for this service. The demographic characteristics of my customers are students or people in Florida that would be involved with a scooter. The older scooter riders might not find value in taking these courses before buying a scooter or even after owning a scooter for some time. Dealerships that sell scooters are included in who the service will be offered to since they will find value in it with the added business that the course will bring. People that own a scooter already are included in the customer base but are not the target market because they will feel that their driving is good and don’t need the course.

4) This is a unique service that I will offer to customers because it will be the one way that people can gain the proper rider and safety knowledge that is specific to scooters. Additionally, along with gaining important rider and safety knowledge for scooters, the customer that completes the course can purchase a new/used scooter at a discount from the dealership. The only other way to gain rider knowledge is through a motorcycle safety course, in which you gain motorcycle knowledge. People would want to learn information on the specifics of riding a scooter. This service will be beneficial to them because it will keep people safe on the roads by knowing proper riding techniques.

5) The thing that sets me apart from everyone else is that there is currently no service that offers scooter courses in Florida. After completing the course, you will earn a discount on a new or used scooter. I have a service that is linked to a discount of a scooter in the dealership and this product-service combination is the only one like it. This product/service mix will lead to more changes involving scooters to help maintain rider safety, including legislation on scooters in Florida.

Evaluation: I believe that all these elements fit together well because it is important to make sure everyone driving on the road know how to drive their vehicle and how to be safe. All the elements go with my idea of keeping everyone safer on the road and to cut out on expensive hospital visits for people. The state will realize that there was a problem with scooter riders and then will show more support for the provided education for two-wheel transportation. It fits well with myself since I own a motorcycle and have been riding for over two years. As a motorcycle rider, I have even more in common with my market segment.

Feedback Memo: I received no negative feedback on the information that I presented in my first blog post. The things that I did revise in this post are that I cleaned up any grammatical errors that made the text confusing and unreadable. The other point that I fixed was removing anything that I already mentioned or that was unrelated to the question. This allowed my post to be clearer and more concise. I incorporated the feedback by rereading this idea napkin for any discrepancies and I fixed them. Also, I made sure to clean up run-on sentences and sentences saying what was already said.

Assignment 18A – Create a Customer Avatar

The customer segment that I am focusing on is the younger generations in the demographics segment. The prototypical customer for this service and product mix is any person or college student that owns a scooter already or looking to buy a scooter in the future.


The hobbies that my customers have are hanging out with friends, going out to the bars or clubs, sports, going to the gym, running, and some play video games and other customers prefer shopping. The kind of car they usually drive are trucks, sedans, coupes or convertibles. Also, the customers drive scooters and motorcycles as well. The color of the car that they prefer is blue, grey, white or black. The TV shows that they watch includes The Bachelor, the Office, Game of Thrones, Parks and Recreation, Brooklyn Nine-Nine, Grey’s Anatomy and It’s Always Sunny in Philadelphia. The customer does not have kids and most if not, all are not adopted. The people that I interviewed said they don’t read that much in their free time so I would not have an idea of what this segment’s favorite book is. Most of the customers in this segment preferred not to say their favorite politician or they aren’t that invested into it. The age range of the customers is 18-24 years old. They feel as if they are a lot older. For example, some people under 21 years old, feel as if they are 22 or 23 already.

I have a lot of the same likes with hobbies and TV shows, and I am a college student currently as well. I do feel somewhat older than I am and if I had a car, I would like it in the same colors that they prefer as well. Most of the hobbies that prototypical customers are the same as mine. Overall, I have a lot in common with the avatar or the customer segment. I think that the things I have in common with the avatar are a coincidence because I think that some if not most college students like about the same things. Being a college student and targeting a customer base that I have a lot in common with will allow me to gain more investments and better sell my service/product mix.

Assignment 17A – Elevator Pitch No. 2

Link for Elevator Pitch No. 2:

https://www.youtube.com/watch?v=UL9pXSqSfcw&feature=youtu.be 

1) A reflection on the feedback you received from your last pitch.

I received a couple of comments on my previous elevator pitch and they are both useful and insightful to sharpen my new elevator pitch. First, the big takeaway is that us important to the new elevator pitch is delivering the message better while still making eye contact with the viewers. I can accomplish this by memorizing my speech more. Next, although I did have a power stance in my first elevator pitch, I will move some more during transitions, and add more body movements. These movements will ensure I can be more enthusiastic in my speech and will engage the viewers more to the pitch.

2) What did you change, based on the feedback?

Based on the feedback that I received from the previous elevator pitch assignment, I decided to revise a few things for my elevator pitch. First, I will memorize my pitch better so then I will not have to look off the screen as often. This memorization will allow me to make more eye contact with my viewers. This increased eye contact will help my viewers be more engaged in my product/service mix. Next, throughout the pitch, I will show more enthusiasm to help convince potential buyers or investors. Finally, to allow I will move a little more in my presentation to be more fluid. Finally, to attract more attention and to support my pitch I will do more body movements and move around more during transitions in the elevator pitch.