Reading Reflection #2

I decided to read "How to Fail at Almost Everything and Still Win Big" by Scott Adams. I really enjoyed the book and feel like I've learned a good amount from it. It also gave me a lot of relief to any anxiety I had regarding my own personal talents and my future.

I felt that the general theme or argument related heavily to the title of the book, which is that you don't have to be the best or even amazing at one thing to succeed. You can market yourself and your talents in a way to make yourself unique and eventually, win big. Also, that a big secret to success lies in not putting your faith in just your goal, but rather the system that is going to get you where you want to be.

The book helped me put what I have been learning in this class into perspective. In entrepreneurship, you are not only just marketing an idea or a product, you are marketing yourself. How do you expect an venture capitalist or investor to take you seriously and invest in you if they don't have faith in you?Its not about being the best or "most passionate" its about finding the things you do well and marketing them.

If I were to design an exercise for this class based off the book I read, I would have students paint a picture of where they want to be in five years. List things such as their physical appearance, the house they live in, the job they possess, if they are considering starting a family, etc. and really visualize what they want. Then, I would want them to list the specific systems or processes that would get them where they want to be. An example given in the book is if an individual wants to lose 20 pounds, they should focus far more on healthy eating and exercise than just the goal of being 20 pounds lighter.

What I learned that really threw me for a loop was that he believes and makes a great argument for the idea that passion is not everything when it comes to success. In life we are told that the glory goes to the person who wants it most, the individual that craves that more than anything and lives for the activity itself. However, he points out that its simply just not true. Its better to invest in the person that wants to simply succeed and make money, not someone willing to risk it all in order to follow their passion for, for example, collecting stamps.

Growing your Social Capital

One domain expert in my industry is my previous boss, Laurencno Fuller, who own three nightclubs in my hometown and makes his living entirely off the nightlife industry. He employs plenty of people and is entirely in charge. He is an expert in owning his own small business ass well as the nightlife industry in total. I have kept a close mentor/mentee relationship with him throughout my years of working with him in the summers when I return home to Boca Raton, Florida, and can always speak to him asking for advice while I'm away in Gainesville. He is always around to give me guidance and advice and I am very lucky to know him. He is also a close family friend as well and has a great relationship with my parents. He just expects some work from me when I am available in the summers, however I have already spoken to him about a potential internship I am completing this summer which means I could not work for him and he is very happy and excited for me! I will always have him in my circle considering he is a close family friend and mentor and I am so happy to him him and his family in my life!

One person who is an important supplier in my industry is actually my mother! She and her best friend work with a winery in Napa, California, and provide various wines to restaurants and bars across the country. I love my mom so much and I'm so blessed to be her confidant and know so much about the wine manufacturing industry and its subsequent selling and placement. My mom is always trying to teach me about her various business ventures and I'm so blessed to have her! She always provides me with opportunities for learning an involvement and will because we are family! Italians always take care of our own.

Someone who is an expert in my market is my good friend Justis Mendez who owns his own app as well as a participates in a group of young investors and entrepreneurs. I know him through various social circles and we have been friends for about a year! He has been a great friend and mentor and always provides advice and opportunity to me without asking for anything in exchange which makes him one of the best people I know. Including him in my network allows me to always have his guidance and he is an excellent example for anyone looking to open their own business venture regardless of what negative people will say.

This experience shows me how blessed I am to have so many people in my life who can guide and help me start my journey in entrepreneurship. This activity really helped me sit down and think about the people of influence in my life who guide me and care about my well being. In the future I will try to find even more people who can guide me in similar ways and potentially provide business opportunities. This really will guide my networking experiences in the future because I will try to forge similar relationships that are mutually beneficial.

Idea Napkin No.2

I am Samantha Maughan. I consider myself a bubbly and social person who has a passion for people and human connection. I have a lot of experience working with children and in customer service so I know how to work with individuals and groups as well as take a leadership role. I have also participated in many extracurriculars throughout my high school and college career. I would love to own my own business one day and be my own boss. Having that position of control and power over my own life and schedule is super appealing to me. My app idea means a lot to me and I could see myself going pretty far with it.

I will solve my customers unmet needs by helping them schedule their free time and weekend nights out to ensure they have a better time and don't waste their precious few hours of fun! This app will allow individuals to see real time pictures and videos of events and nightlife happening in their area. They also can find wait times, drink specials, cover fees and more!

I am mainly offering it to college students and young adults who have more free time than those outside of their age range and wish to coordinate it in the best way possible. The demographic is between the ages of 18-24, however, adults looking to have a special night to or date night to spice up the mundane can use it as well. Individuals must be 18+ to use this app.

Customers would play the $2.99 monthly fee in order to use this app because they will be saving time and money far greater than this little monthly fee. Discovering drink specials, deals on cover, saving money on typical wasted Uber rides, etc. are all ways the app pays for itself and provides value to the customer.

I am different from other entrepreneurs in my field because I truly want this app to provide joy and ease to others. I see a need for this app in my own life and I think it could truly help others as well. Despite making money based on my own accord rather than an hourly wage or commission cap and being my own boss, which first drew me into the prospect of entrepenurship, I want people to be happy and social together. I want to make the world a fun place, and I think that truly sets me apart from others.

I believe these elements fit well together because they focus on curating experiences. They focus on the individual user experience and how that can help others build off each other to ensure everyone gets the most out of this app. Also, the fee is small enough to justify itself, because most of the places users will visit will cost money and their app can help lesses those expenses exponentially. I think these all work together to create a fun experience for users. The only weak aspect I would consider is the social media aspect, considering theres are so many social networking sites that users may feel overloaded.

I did not receive feedback because I did not complete Idea Napkin No. 1.

Elevator Pitch No. 2

https://www.youtube.com/watch?v=NJ1kYvD5XRs

Here is my second elevator pitch as well as a description of the changes I made according to the feedback I received.

Create a Customer Avatar

My Avatar and typical user would be a 20 year old college student looking to celebrate the best 21st birthday possible. She lives in a college town and goes to a university but is typically extremely busy with schoolwork as well as her job, so she doesn't have time to waste waiting in lines and doesn't know the nightlife scene very well. She would download and use the app in order to plan her limited free time so it goes as smoothly as possible. She typically spends her free time hanging with friends, cooking, traveling and seeing live music around her city. She drives a white Jeep with an open back and her and her roommates have a golden retriever. She watches Law and Order, The Bachelor and Breaking Bad. She is young and has no children while pursuing her education as well as working as a server in a nearby restaurant. She is economically conservative but socially liberal however does not favor any specific politician. Her favorite color is purple, she loves Italian food and is a big animal lover. She recently got out of a relationship and is now spending her newfound free time exploring new hobbies and activities. She reads a lot of meditation books and is currently studying the law of attraction.

This a picture of my potential customer, 20 year old Amanda.

I do have a few things in common such as age and current stage in life as an undergraduate college student. I differ with this character in terms of her specific hobbies and characters, but I could see myself being friends with them. I don't think it’s a coincidence that we have these things in common because I created the idea of this app from my personal life and experience, and could find individuals like me using it.

Secret Sauce

I believe I am unique in my human capital because I have a sparkling personality and passion with everything I do. I’ve always had a fake-it-till-you-make-it attitude and I’ve essentially trained my brain into giving my all with a smile on my face, even when I don't want to. I am also extremely blunt and not afraid to speak my mind even if my opinion is unpopular. I have an extreme independence about me as well, and have no issue walking into new and uncomfortable situations. I never quit due to my pride, even when I should, and am utterly determined to get the results I deserve. Also, I can work in a team or on my own with the exact same effectiveness. If someone has incredible ideas and leadership skills I am willing to take a backseat for the betterment of the goal.

This video from my father expresses how he recognizes my ability to face reality and problem solve. He has always tried to instill these values in me it really warmed my heart to hear him say that and I felt that he truly believed it.

This video from my roommate Ember really took me back. Her words really encompassed something about me that I love which is that I try to always be authentic and tell it like it is 100% of the time.

This video from my friend Ally really made me smile because I try my hardest to be a positive and uplifting person. I want to help others succeed and be happy like myself and the fact that my friends recognize that is so wonderful.

This short and sweet video from my roommate Sabrina made my day. Although I try to be hardworking and motivated, my friends and family come before anyone else and the love I have in my heart goes out to them always.

This video from my friend Kendyl makes me so happy because I try my hardest to be there for people in their time of need as well as everyday life. I believe you receive what you put into the world and I always strive to be a compassionate and caring person.

These interviews really opened my eyes as to how my friends and family see me. I didn't want them to feel pressure going into this as if they had to state only kind things about me, and I really felt they spoke from the heart. I felt my analysis of myself and my attributes really aligned with theirs and that means the world to me. I try to be an authentic and positive person and the fact the people in my life recognize that means the absolute world to me. I would not correct my list at all, I’m honored to have these people in my life to understand and cherish me so well.

Figuring out Buyer Behavior Pt. 2

Interviews: For this assignment I decided to interview three students I am in a project group with for a seperate class. They consist of two girls and a boy over the age of 21+ who are also juniors at the University of Florida.

Alternative Evaluation: According to the three of them they really liked the idea and could definitely see a need for it in college campus life. Since I set the price point around $2.99 a month two of them had no issue with it, however they collectively agreed that the service of the app would have to be cellular and fast considering the posts are supposed to be made in real time and oftentimes venues dont have free wifi. That is an issue I would have to work to fix.

Buying: The buying aspect of my product is very simple because all it requires is a wifi enabled phone and access to an application store, such as an iPhone or Android. It can be purchased with a credit card and that same card can be used to make the monthly payments.

Post-Purchase Evaluation: They will determine if the product was a success for them if their nights out or upcoming events improve and run significantly more smoothly than previously. The app is designed to help manage free time in an effective and successful way so that our precious weekend activities won't be squandered. If they find better events and avoid duds then they would consider my app a success.

Findings: Both girls I interviewed seemed very much on the same page, although they are not thrilled to pay a monthly fee for using the app they agreed that in the long run it would save them money and create better experiences. They mentioned the concerns that my app must be cellular accessible because many of these places do not provide free wifi and a major aspect of the app is posting real time videos and pictures of events. The boy I interviewed was adamant about not paying for apps and believing it was a waste of money. He is extremely studious and does not spend his free time socializing and would rather be introverted. However, he did see that there was a need for the app mainly within the Greek Life community. 

Conclusion: My research has brought up some valuable points that I did not foresee within this app. I did not realize that the wifi may be an issue and that there are many individuals who do not want to pay for something intangible such as an experience or a digital application.