30A – Final Reflection

1)     This class as been a completely different experience for me with lots of highs and lows. Being able to come up with new ideas, sharing my idea and being able to interact with people and getting their feedback for my product on the spot was a bit scary and exciting at the same time because I never knew what to expect. Another fun part was reading the business proposals of other students and being able to relate to their problems. Some of the ideas I read were definitely mind blowing and if they were to act upon and implemented in the near future, they could be a game changer in the business world. For me the lows were definitely keeping up with the assignments during exam time because it became quite stressful considering the lengthiness of each assignment but overall, it taught me how to manage time effectively.

2)     The most formative assignment was mapping out our entire business proposal and see it come to plan. While the entire process was long and tedious, it was definitely worth it in the end because it allowed us to see how common and relatable the problem was for so many people during the interview process. This class allowed us to think outside the box and on our feet.

3)     I do not consider myself as an entrepreneur just yet, because there’s still so much I have to see and learn, and I don’t have the skills for it just yet, but I might be closer to be an entrepreneur. I now understand the entire planning and preparation and thinking each business venture requires and I hope to obtain all these skills one day.

4)     One recommendation I can give to students is think about the problems you might face on a daily basis no matter how silly it may sound and then start considering if other people are facing the same problem as well or not and you can do that by talking to your close friend and family circle. Doing so you are trying to identify the unmet need and after that you will be able to plan out your own business proposal. Also never give up on your dream and idea and you should start working on your communication skills at an early age because in orer to start your own business, interviewing people will be really important as it will help you gain insight. Apart from that this class is fun and if you work on your idea from day one you might come out as an entrepreneur after 5 months.

29A – Venture Concept No. 2

EVERGREEN VENDING MACHINES

Opportunity

Food choices and eating habits are impacted by a variety of individual and environmental factors. The school environment plays an important role in modelling and influencing eating behaviours in students, since a large part of their time is spent on school grounds. With the risk of obesity on the rise the school environment in regard to food is definitely a modifiable factor. With a lack of healthy affordable eating options on campus, a lot of students turn towards vending machines because they are fast, easy on the packet, satisfy cravings and easily accessible. Only problem is vending machines that are placed on each corner of campus are stocked with empty calories food items, sugary and fatty foods that provide little to no nutritional value to students. Vending machines are found in 98% of high schools and colleges, 74% in middle school and 43% in elementary school. Since vending machines are so commonly found all across schools, banning them will not be a good idea because it can lead students to look for food options elsewhere. Instead vending machines can be restocked with healthier options that meet USDA standards, ensure schools revenue is not decreasing and students stay satiated throughout the day.   The unmet that I have identified is for high school and college students. Over time students are becoming more aware of the risk and diseases associated with healthier eating habits and hence the opportunity i have identified will be successful because my service will be providing students with healthier options that satisfy their requirements and will be cost friendly as well. My product is meant for students currently in high school and college in the United States, from ages 15 to 24 and I later plan on expanding this idea globally. To attract students, our products will come with a nutritional value chart that will be displayed on the screen before purchasing it. The customers I interviewed were all health conscious, who either meal prep at home or when they are short on time, they prefer to buy a salad bowl or a wrap, burrito or protein poke bowl. Upon asking if they have stayed loyal to the food place where they purchase from, most replied yes and said that once a while they prefer cheat meals so i know my venture won't be facing any problem in regard to this. As long as students remain woke about their health, this window will remain open for a long time.

INNOVATION

To gather a better idea of student’s food eating habits for younger students of ages 15, a questionnaire will be made to address the questions of how many time students eat fruits and vegetables and how many times do they have other unhealthy options. To get more responses we plan on partnering up with schools we plan on setting up our vending machines in, to make this 5-minute questionnaire mandatory for all students. After that we plan on holding health campaigns across school.

Our idea is simple. We at Evergreen plan on partnering up with vendors who produce vending machines to design our own machines with appealing posters and colours that will attract students from afar. By collaborating with local startups we plan on stocking our vending machines with at least 10 items that will range from healthy wraps, burritos, grilled chicken or beef salad, fruit bowls, chicken poke bowl and the rest of the items will be decided accordingly. I also plan on packaging them in biodegradable materials that will be eco-friendly.  We also plan on keeping some food options for students with dietary concerns and restrictions which we plan on asking in the questionnaire. Later on we will also stock up on fruit juice. Since our products will be locally available, we will be taking customer feedback and reflecting on changes accordingly.

VENTURE CONCEPT

Health and good nutrition are essential during a child development stage. Students in their younger ages are really active and a good amount of their energy is spent in school activities. If they don’t fuel their bodies with healthy and nutrient dense foods, then in the long run that can lead to a lot of problems like obesity and diabetes, blood pressure etc due to unhealthy eating habits. With healthy vending machines on campus, students can especially develop a balanced diet and will have more options available to them. With vending machines placed on campus, students can avoid the hassle of standing in long lines, and since all college students are broke or are on a fixed budget, this would be the perfect fit for them. It might be a bit harder for some students who are picky eaters to switch but we plan on conducting weekly evaluations so that students' concerns can be addressed and reflected in a fast-fashioned manner. My competitors will be the fast food options on food courts. Their weakness is that students cannot afford to have food from there every day due to it being pricey and no good benefit. Since my father has a food packaging company, I plan on starting up something similar to that or may take over it after my dad retires. My vending machines will be located in convenient locations all across campus that will be easily accessible and will be placed in locations where students are mostly seen gathered. I plan on starting up with 2 other business partners and then 7 employees, whose roles will be collaborating with restaurants and delivery services, gathering feedback, organizing health campaigns and social media marketing, budgeting our costs, packaging etc.

The three minor elements.

My most important resource will be the skills that I have gained by working alongside my father in his packaging company where he exports food items. Seeing the machinery and items required I have a better idea of how food is prepared and stored and what machines are required.

My next venture will be expanding this locally in my home country, because back home the majority of the schools have no concepts of vending machines, instead they have a single cafeteria. So, I think it would be easiest to establish it there.

I plan on doing my masters and establishing my own accounting and tax firm. This venture is something on the side because it's something I have struggled with personally and therefore am passionate about making this work.

FEEDBACK: A lot of the feedback I received from students was quite positive and they seemed excited to know more about this business venture. The recommendations I got were to incorporate all kinds of cuisines, so students get a taste of different cultures as well as stay satisfied with just a simple salad or wrap. Most students had concerns regarding the price, but I reassured them it wouldn’t be pocket friendly and something they would be able to afford on a day to day basis if they chose to eat out every day. Speaking to the principal of my high school back in my home country, she would definitely love to see an idea like that in her school.  

28 A YOUR EXIT STRATEGY

11)  My exit strategy is growing my business and expanding it in different states before I sell it to for a great profit margin in 5-8 years’ time, so that I have enough to start my  next entrepreneurial endeavor.

22) I have selected this particular exit strategy because as a young entrepreneur this is our age of taking risks and try out and experimenting in different fields. I plan on travelling to different areas, learn about their culture and see the problems they are facing and if it’s a universal problem I plan on working on  that as my last business venture before I pass it on my

children.

3) My exit  strategy has definitely influenced my decisions in the course because it has helped me think accordingly for the long run. I have been able to identify my future goals and the planning that needs to be done for it. I have also learnt the skill of identifying new problems and the unmet need and the necessary resources that are crucial to a business operation

27 A Reading Reflection No 3

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

In Mindset: The New Psychology of Success, Carol S Dweck talks about 2 mindsets that allow us to persevere in the face of challenges and shortcomings. Her main argument is that while our genes do influence our intelligence and capabilities, they aren't fixed at birth , instead they change and develop over time through new experiences. But the minute we start thinking the latter, then we have a fixed mindset. With a fixed mindset we have this need of trying to prove ourselves to everyone. Dweck gives the example of her own school experience and  mentions how teachers and parents exert a big influence on what mindset we adopt. In schools for instance we are taught to look smart, and when we adopt that identity we spend way too much time in protecting that title. In doing so we ignore the fact, we steer clear of challenges that might jeopardize that title and hence aren't actively learning in the process. Another thing she mentions is that when a person with a fixed mindset experiences failure at life, instead of trying to overcome it, they blame it on the world  and start victimizing themselves. They arent able to learn the trait of coping in case of challenges. A perfect example she gives where this mindset is somewhat reflective is the CEO disease and mentions the CEO of Chrysler Motors. Lee Lacocca was initially successful in his business venture, but then he kept designing and manufacturing the same models with a few minor changes and in the end noone wanted his product. Instead of owning up to his mistake, he  disassociated himself from all his critics.
The most important mindset that she mentions in Growth mindset, which is achieved through experiences, hard work, training and persistence. According to Dweck, "they believe a person's true potential is unknown and its impossible to forsee what can be be accomplished with years of passion, toil and training." To prove her point she gives examples of renowned figures like Ben Hogan. We are told to hide our weakness and only go for the true and tested ways. what we arent told is to overcome our shortcomings and experience things for ourselves so we can truly figure out what works for us.

2) How did the book in your opinion, connect with and enhance what you are learning in ENT 3003?
The most important thing i learnt from this class is taking initiatives and embracing failure. This class is structured in such a way that it allows students to embrace the growth mindset and now the fixed mindset. Professor Pryor encourages us to come up and pitch new ideas no matter how dumb they might sound because that means we are constantly aware of our surrounding and the problems that other people are facing. The assignments that he assigns allows us to think about our strengths and weaknesses.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise be?
Based on the book, I would come up with a set of questions or statements that would help students distinguish which mindset category they fall under. While they could be a mixture of both talents, its important for them to navigate towards one so that they can truly understand their mindset.

4) What was the biggest surprise or aha moment?

There personally want any aha or surprise moment for me in this book, because I had written a research paper on this for my Psychology class so they were pretty much aligned with what i expected from the book.  But i like the examples and personal experiences Dweck mentions in the boom and her explanation is brilliant.

26A Celebrating Failure

I started off my first semester at UF with three courses and at a good pace. While all my courses were online, I made the effort of waking up on time and attending all the in person lectures for my classes, atleast for 2/3 of my classes. Transitioning from a community college to UF, I honestly thought he journey would be easy but it wasnt. For me personally my biggest failure was not realizing and reaching out on time for business finance and underestimating the level of hardness for my courses. For weeks I was struggling with business finance, I watched countless videos on Youtube and viewed numerous sites and the more sites i viewed the more confused i became with all my concepts. Despite numerous people telling me about another tutoring service, i rejected all their claims and decided to pursue it on my own, not willing to give up at this point. But when exam 1 came close I realized the mistake I had made about not taking anyone's advice, and the stress level had a negative impact on my health which negatively impacted my other classes. I neglected my other courses, missed assignments and lectures and because of that my overall grade dropped

The most important thing i learnt was knowing when to give up and seek help. If i had taken on the tutoring service in the start, i probably wouldnt have suffered so much. In my mind i was looking at the small cost, instead of looking at the bigger picture. if i were to fail that course, i would have to take it again in the summer and that would mean and extra waste of time and money.

I personally feel that success comes from acknowledging your person weaknesses and failure. once you are able to clearly see the wrong in your actions and identify your biggest weakness only then you can work on improving them. I have been a very indecisive person since the start and over time that has gotten worse. i tend to act alot later than when i actually should and while i get the work done, it always have some kind of negative impact on my mental state of mind. Despite doing horrible on my first exam, i learnt from my mistake and saw the wrong in my actions and how it just wasnt worth it in the end.

23 A

1) Hard work
a) Valuable: persistent when it comes to getting things done. I am goal oriented and because I have personally struggled with this problem, I know I can get the job done
b) Rare: answer depends from person to person because a lot of people do possess this quality but it depends on their efforts in eradicating the problem
c) Imitable:  Yes with time effort and dedication.
d) Non substitutable: No.

2) Friend who is majoring in nutrition
a) Valuable: My friend has an immense amount of knowledge when it comes to nutrition and evaluates diets and offers customized diet plans accordingly.
b) Rare: No because there are nutritionist out there but my best friend is someone I have close contact with and I know she will be there to support my business plan.
c) Imitable:  Yes, it all depends on your closeness and bond with the person.
d) Non substitutable: No because her loyalty and hard work and knowledge is far greater than any other source.

3) Friend who has been in the cooking industry and has her own startup business
a) Valuable: because she produces and delivers healthy food items as well as baked goods all across the country back home and also went to turkey famous cooking school to get more experience. So she is well aware of all the different cuisines and cultures.
b) Rare: it is rare because of her cooking experience and classes she’s taken from at least 6 countries all over the world.
c) Imitable: yes because there are a lot of people who are passionate about cooking.
d) Non substitutable: this is not substituted by any resource.

4) Market expert in food items
a) Valuable : Having a friend who exports food across the country can be of great value to me
b) Rare: Kind of it honestly depends but someone who can help project future trends and analyze revenue models can be a great asset.
c) Imitable: yes because there are a lot of market experts involved in different fields.
d) Non substitutable: No because there are computers and software that analyze market trends by depicting graphs etc.

5) Significant amount of research and feedback
a) Valuable: the interviews that I conducted for my business plan was definitely valuable because it helped me get a better understanding of this unmet need that college students have and how to go on about it.
b) Rare: not really because there are a lot of people I could have interviewed for this
c) Imitable: it is because I can interview new customers and get the same response in most cases
d) Non substitutable: Feedback from customers is a vital aspect in the success of any business hence its definitely non substitutable.

6) My father owns his own packaging industry back home where he packs food goods in sealed vacuum tins.
a) Valuable: yes because I was able to learn a lot about how food items are stored and the packaging materials required to maintain the freshness of the food and the machinery required for it.
b) Rare: Back home it is rare because the machinery for it had to be built and the parts were imported.
Imitable: yes
Non substitutable: No because there are really specific ways of packing food items.

7) Leadership skills
a) Valuable: I have had numerous experiences of being a leader which has really enhanced my confidence over the years. I was able to learn how to work with a team and lead a team at the same time.
b) Rare: Everyone possess leadership skill but therstyle can vary so I wont say it’s a rare trait.
c) Imitable: I don’t think it is because it’s a skill that cant be practiced.
d) Non substitutable: No because its important to stand firm and maintain your position for people to respect you and take you seriously.

8) Contacts with vendors
a) Valuable: having connections with vending machine companies and sharing my ideas with them is valuable because they are a key component in my business.
b) Rare: rare that the idea exists but it could be pulled of if anyone trid.
c) Inimitable: yes because its not something that can’t be done by someone else but they might not share the exact vision like mine
d) Non substitutable: yes because any student could easily come up with this idea.

9) Social media marketing experts
a) Valuable: social media marketing skills are needed for the promotion of startup ventures
b) Rare: no because everyone has easy access to social media platforms
c) Inimitable : no because that would come under copyright
d) Non substitutable : yes

10) Designing experts
a) Valuable: I have a certain design for my vending machines that I shared with my friend who has been designing for the past 5 years.
b) Rare: no because there are a lot of graphic designers.
c) Inimitable: no because the design I have in mind is specific and catered to my requirements and vision
d) Non substitutable: no.

 For me my top resource would be the experience I have from working alongside my father in his packaging industry and seeing and working with machineries required to package food and perishable items to maintain the freshness. Working alongside him, I have gained a lot of new set of skills that cant be matched by any other resource for instance keeping track of all the production units and seeing if the target requirements are being met. Being in his shoes gave me image of what its like to run a business.

25 A WHATS NEXT

EXISTING MARKET

I think what’s next for my venture, as a result of feedback from potential feedback from customers, is supplying packaged healthy meal plans to offices by offering monthly subscriptions. A lot of people working in offices get short lunch breaks and hence don’t get enough time to get meals due to the hassle of long lines etc. So by speaking to a few potential customers, they said that either I could provide them with ready made meals that they can freeze in their homes and warm it up when hungry or I could just deliver them meals during office hours. Another thing they are looking for is a variety in terms of taste and different cuisines. People are tired of having the same burger, pizza, salad and sandwiches and want to expand their palette so maybe introducing items like quinoa salad, chicken tikka with a flax seed wrap, almond flour beef tortillas serviced with beef , cauliflower rice served with chicken parmesan is something people are willing to try. For my venture, if I feel its working in the long run I plan on starting a health café.

NEW MARKET.

Since my main targets are college students, I think the next part of my market that I would like to target are supplying to non-profit organization schools. Students coming from underprivileged backgrounds have limited resources available and hence resort to cheapest options available because they have no other way. Due to such restrictions, they aren’t aware of how their unhealthy eating habits can cause them problems in the long run. I have taught in NGO schools for a few years and hence have gained relevant experience and skills as to how to target such markets. The first most important thing is to conduct workshops with health experts who can explain to them the adverse effects of unhealthy eating habits and how healthy eating habits can be made affordable if done the right way. Then I would contact important agencies who could sponsor my product so I can successfully supply schools with ready to eat meals that targets all nutritional deficiencies. Eating healthy helps improve our cognitive function, helps us focus and retain information.  I have spoken to a few teachers from these schools and gotten some valuable insight. A lot of students who show up don’t have meals in a day and survive on snacks so I think this kind of an idea would be really helpful. This market is more attractive for me because I have always wanted to set up my own NGO and help give back to the society that played an important part in my growth.

24 A VENTURE CONCEPT 1

EVERGREEN VENDING MACHINES

Opportunity
Food choices and eating habits are impacted by a variety of individual and environmental factors. The school environment plays an important role in modelling and influencing eating behaviours in students, since a large part of their time is spent on school grounds. With the risk of obesity on the rise the school environment in regards to food is definitely a modifiable factor. With a lack of healthy affordable eating options on campus, a lot of students turn towards vending machines because they are fast, easy on the packet, satisfy cravings and easily accessible. Only problem is vending machines that are placed on each corner of campus are stocked with empty calories food items, sugary and fatty foods that provide little to no nutritional value to students. Vending machines are found in 98% of high schools and colleges, 74% in middle school and 43% in elementary school. Since vending machines are so commonly found all across schools, banning them won't be a good idea because it can lead students to look for food options elsewhere. Instead vending machines can be restocked with healthier options that meet USDA standards, ensure schools revenue isn't decreasing and students stay satiated throughout the day.   The unmet that I have identified is for high school and college students. Over time students are becoming more aware of the risk and diseases associated with healthier eating habits and hence the opportunity i have identified will be successful because my service will be providing students with healthier options that satisfy their requirements and will be cost friendly as well. My product is meant for students currently in highschool and college in the United States, from ages 15 to 24 and I later plan on expanding this idea globally. To attract students, our products will come with a nutritional value chart that will be displayed on the screen before purchasing it. The customers I interviewed were all health conscious, who either meal prep at home or when they are short on time, they prefer to buy a salad bowl or a wrap, burrito or protein poke bowl. Upon asking if they have stayed loyal to the food place where they purchase from, most replied yes and said that once a while they prefer cheat meals so i know my venture won't be facing any problem in regards to this. As long as students remain woke about their health, this window will remain open for a long time.

INNOVATION

To gather a better idea of students food eating habits for younger students of ages 15, a questionnaire will be made to address the questions of how many time students eat fruits and vegetables and how many times do they have other unhealthy options. To get more responses we plan on partnering up with schools we plan on setting up our vending machines in, to make this 5 minute questionnaire mandatory for all students. After that we plan on holding health campaigns across school.
Our idea is simple. We at Evergreen plan on partnering up with vendors who produce vending machines to design our own machines with appealing posters and colours that will attract students from afar. By collaborating with local startups we plan on stocking our vending machines with at least 10 items that will range from healthy wraps, burritos, grilled chicken or beef salad, fruit bowls, chicken poke bowl and the rest of the items will be decided accordingly. I also plan on packaging them in biodegradable materials that will be eco-friendly.  We also plan on keeping some food options for students with dietary concerns and restrictions which we plan on asking in the questionnaire. Later on we will also stock up on fruit juice. Since our products will be locally available, we will be taking customer feedback and reflecting on changes accordingly.

VENTURE CONCEPT
Health and good nutrition are essential during a child development stage. Students in their younger ages are really active and a good amount of their energy is spent in school activities. If they dont fuel their bodies with healthy and nutrient dense foods, then in the long run that can lead to a lot of problems like obesity and diabetes, blood pressure etc due to unhealthy eating habits. With healthy vending machines on campus, students can especially develop a balanced diet and will have more options available to them. With vending machines placed on campus, students can avoid the hassle of standing in long lines, and since all college students are broke or are on a fixed budget, this would be the perfect fit for them. It might be a bit harder for some students who are picky eaters to switch but we plan on conducting weekly evaluations so that students' concerns can be addressed and reflected in a fast fashioned manner. My  competitors will be the fast food options on food courts. Their weakness is that students can't afford to have food from there every day due to it being pricey and no good benefit. Since my father has a food packaging company, I plan on starting up something similar to that or may take over it after my dad retires. My vending machines will be located in convenient locations all across campus that will be easily accessible and will be placed in locations where students are mostly seen gathered. I plan on starting up with 2 other business partners and then 7 employees, whose roles will be collaborating with restaurants and delivery services , gathering feedbacks, organizing health campaigns and social media marketing, budgeting our costs, packaging etc.

The three minor elements.

My most important resource will be the skills that I have gained by working alongside my father in his packaging company where he exports food items. Seeing the machinery and items required I have a better idea of how food are prepared and stored and what machines are required.
My next venture will be expanding this locally in my home country, because back home the majority of the schools have no concepts of vending machines, instead they have a single cafeteria. So I think it would be easiest to establish it there.
I plan on doing my masters and establishing my own accounting and tax firm. This venture is something on the side because it's something I have struggled with personally and therefore am passionate about making this work.

21A – Reading Reflection No. 2 Due

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

1) What was the general theme or argument of the book?
Scott has made a lot of great points in his book and he’s given the readers his formula to success, but he doesn’t want everyone to blindly follow it. As he explained in the book, its important to examine the ways of people who have become successful and try to learn some of their tricks and strategies that could work for you. Success doesn’t come easily to everyone and it takes time and effort. But before we get to that stage its important to look after yourself first by eating healthy, exercising and staying positive, then look after your economics and then the world. The next important thing he talks about is not setting goals but instead establishing a proper system to work towards achieving that success. The problem with goals is that our vision becomes focused and limited to that one single thing and we aren’t able to see other opportunities. When we think about establishing a system he tells us to prioritize things that we should get right in order for those to thrive. A lot of us believe that passion leads us to pursue things and that’s what makes us successful. But Scott believes that passionate people will take big risks for goals that may have no outcome or return which could result in failure instead of success. According to him, we feel passion when things work out well for us. But a combination of mediocre skills, new learning experiences, optimization are all what makes us more valuable.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
In this class, one thing I have learnt is pursuing opportunities that are important for us and tasks that we are skilled at or at least have the knowledge of how to go about that particular task. In class, even though we are focused on establishing a goal or a plan for a single startup ideas, Scott encourages us to have multiple startup ides because if one idea fails, you still have other ideas to fall back on. Most importantly failure isn’t a bad thing. It becomes bad when we fail and decide to give up on everything, but Scotts story and success is living proof that failures doesn’t mean the end of ones career instead, it’s a main reason behind ones success.

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 first involve students in looking after themselves by eating healthy, exercising, staying fit and positive. With the right attitude, its easier to deal with failures. I would definitely assign this book to all students and ask them to reflect on some of their recent failures, what impact did that have o them, how did they overcome it and what did they learn from it. Also instead of asking students to focus on one startup idea I would give them the chance of changing their idea because this way they are more aware of their surrounding and opportunities around them.

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 biggest aha moment for me was not have a goal-oriented approach, but instead having a more systematic approach to sort “truth from rubbish” as Scott would out it. Instead of going after things youre good at, its important to try out new experiences. Scott Adams was a lot of thing before he decided to be a cartoonist. To ensure you are happy, you need to learn how to manage and control your schedule.