14A- Halfway Reflection

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I want to reflect on my time in this course, as I have learned a lot about the skills needed to be a successful entrepreneur. 

To start I want to discuss behaviors I have used to be successful. Before this course, I simply did assignments when they were due, or at random times. This blog has taught me consistency and routine. I know when the posts are due, and I think about what I am going to write all week long. Another skill I have learned is how to brainstorm ideas, then use logical reasoning to figure out which ideas work and which aren’t so great. 

There have been a few moments when I wanted to give up. Specifically, I had a week where I had several exams and 3 posts for this class. However, this course has taught me to be tenacious with my writing, and has enhanced my written communication skills.

If I could offer tips to future students in this class they would be:

1.    Stay up with the assignments, it can be very easy to fall behind and not earn the grade you want.

2.    Think outside the box. Many people who brainstorm ideas think about solving the world’s greatest challenges. Make use of the bug list and solve something that you deal with on a daily basis.

3.    Write your blog with a purpose. Not only does it satisfy the course requirements, it offers me a level of personal reflection I didn’t know I had before.

Me, A successful student and future entrepreneur

13A- Reading Reflection 1

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For my first reading reflection, I explored the Biography work titled “Steve Jobs” by Walter Issacson. It consists of 40 interviews over 2 years, before Steve Jobs, the famous leader of Apple died. Here are some of my take-aways:

·     What I found most interesting is that Jobs was unlike other entrepreneurs in which he shaped his efforts and products to meet the opportunities around him. Instead, he would warp his reality to make a product that everyone desired. This was termed by his team as his Reality Distortion Field.

·     What I admired about Jobs is his unwillingness to quit. He was fired from the company that he founded, and yet he still pursued his dream and changed the world

·      I didn’t admire how hard Jobs was on his employees, according to them he was an overdemanding perfectionist

·     Jobs did encounter a couple failures and adversity. He was fired from his own company, and then started another firm NeXT, which was seen as a failure and blackhole for money. 

I also noticed that Jobs had a vast competency in software/hardware engineering. Many times, entrepreneurs can run businesses effectively, but need outside help with the actual development of the product. In Jobs case, he could do both. 

I found the part about him naming the firm apple kind of confusing. From reading, I gathered that Jobs was a calculated entrepreneur, and when he named his company Apple, he did it randomly, which surprised me.

If I could ask Jobs anything, it would be about him not only pioneering a product, but an industry as a whole. Additionally, I would ask him about his strategies to set apple apart from the competitors. I would ask him this because growing up, everyone I knew treated Apple as a step above the rest of the computer manufacturers, but oftentimes they had the same specifications as Apple computers at a cheaper price.

Jobs was driven by hard work, it was what made him successful, he doesn’t think about hard work, he embodies it. 

12A- Buyer Behavior Part 1

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For this portion of my journey to provide parking for UF commuter students, I interviewed three potential customers based on their needs regarding transportation to campus. 

The first person I interviewed regarding a parking solution is Amanda. She used to live in Broward Hall with me during our freshman year. She now lives further away from campus on Southwest 34^thstreet. I started the interview by asking about her routine commuting to campus. She explained that she uses the UF park and ride system, but the need for a better parking solution arises when she has different meetings across campus and at variable times. In general, Amanda’s schedule allows her to use the parking system at UF in order to commute to class. However, she is involved with student government, and also a sorority, which is located on Sorority Row. When she has to be on campus very early, or stay late, which is several times per week, the park and ride system is efficient for her. To solve her problems, she splits up her parking on different days at either a friends house close to campus, or parking illegally on the street, hoping she doesn’t get a ticket. I asked her if she has tried to find other parking via the internet, and she claims that when she googles parking in Midtown (her ideal solution) there is no viable options. Essentially, her need occurs when she cannot find free/affordable parking close to campus. She would rather have a semester long pass that could compete with UF rates.

The next person I interviewed also has a need that occurs at specific times. His name is Jack and is a undergrad student who lives north of 8^thavenue on 13^thstreet. He usually is able to take the bus to class as there is a stop right by his apartment. However, his unrealized need for parking became apparent when he got a job in midtown as a bouncer. His shift starts pretty early, around 5pm, not allowing him to go home in between class and work. He explained that the bus doesn’t run after 9pm, making getting home after work a challenge. The bar he works at doesn’t provide parking for its employees, as the vast majority drive scooters or park on the street after hours. He has tried asking co workers and friends what to do about parking, but none of them have the time constraint that Jack does. He needs a solution that will allow him to park all day and night, for a fee that is monthly or longer, as he doesn’t want to pay for hourly parking all day. 

The final person I interviewed was a student club athlete friend. Her name is Jordan and she is on the club swimming team, with practices at the O’Connell center morning and night. While she doesn’t live extremely far from campus in the sorority row area, her classes and swim practice are on the west side of campus, making the commute a challenge. In addition, she has class at different times throughout the week. She explained that her need arose from her fluid schedule, as finding an efficient parking option didn’t exist. She wants to be able to park in proximity to class and swim practice at anytime of the day, as her schedule changes weekly. 

Overall, I have realized how specific each UF student parking needs are. The common theme is that each student at this University has an individual schedule with different times of commuting to campus. The traditional 9-5 commute doesn’t work for many students, and when they are unable to participate in campus or work activities after hours, the current park and ride system just doesn’t work. While some students are able to find a solution in the grey area between parking at friends houses in midtown, or parking illegally, many students are discouraged from participating in the activities this university has to offer after hours, simply because the parking solution doesn’t work with their schedule. This segment is aware of its needs, but there is a lack of solutions and information regarding the issue. 

11A- Idea Napkin 1

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Here is my napkin,

The five elements of my business strategy fit together well because they all serve the specific needs of parking for students. As someone who has struggled with campus parking before, I know that students want a worry-free solution to parking, allowing them to park whenever they need and get to the center of campus quickly. This parking will be open to everyone, but will be tailored toward commuter students who each have very different schedules for parking. The facility will be accessible 24/7. Additionally I will be offering jobs to student employees. The students will see value because it will be affordable and easy access. Additionally, I set myself apart from others because of my solutions emphasis on efficiency for busy students and proximity to the center of campus. Overall these elements work jointly together to provide students a solution to a very real problem at this university. 

10A- Elevator Pitch Number 1

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Here is my elevator pitch for Student Parking Solutions

Hope Everyone Enjoys!

9A- Testing my hypothesis part 2

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To further test my hypothesis, I interviewed 5 others who commute to campus everyday. However, these five do not have issues with parking, albeit they should. 

The Who:

Two of the guys that I interviewed, Max and Paul, both are able to park to come to class at a friends house. Two of the other guys, Brian and Christian, work with me at the AC Marriott at The Standard. They are able to park in the garage, right by the business school. Finally, the last guy I interviewed, John, parks his truck at the park and ride lot, then rides his bike to the center campus. 

The What:

All of these people are able to effectively commute to campus on a daily basis, however due to special circumstances, have access to free//affordable parking, or in the case of John, work around the inefficient system. Without these, the need for a parking solution still exists.

The Why:

The guys I have interviewed have went out of their way to make their commute easier. Either by reaching out to friends, getting a job with benefits, or finding their own solution, they have found a way to reach campus efficiently. With that said, this is a small minority of undergrad commuter students, and these perks do not apply to all students. 

Here’s a table regarding those who face this issue and who doesn’t:

Inside the boundary, Who, What, Why	Outside the boundary, Who, What, Why
Undergraduate commuter students who need parking	Students who have a parking solution. Professors, staff, and graduate commuters
These students need access to easy parking near the center of campus	These students and staff do not need parking because they already have access
UF and the City of Gainesville do not offer easy parking	These students have worked around the issue, and staff/grad students have UF parking access.

8A- Solving the Problem

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While thinking about my opportunity regarding parking at UF, I have come up with a tentative solution to the problem. The problem is centered around the fact that undergrad students have difficulty commuting to campus as a result of UF not issuing commuter lot decals, and the inefficiency of the park and ride system. In order to provide a solution, private offsite parking could be developed in the areas behind midtown. Several apartment complexes have been acquiring land in the area, meaning that owners of property in the area are willing to sell. Additionally, large structure garages could be built, allowing a large amount cars to park. If two or three garages are developed, the parking situation could be alleviated to an extent. Also parking has relatively low overhead, and can result in solid profits as a result of the demands. In this, students could be offered semester, monthly or daily parking rates. If made affordable, the garages will be a popular business for students, gator fans, and guests.

7A- Testing my opportunity hypothesis

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The opportunity that I would like to pursue is one I have already discussed, which is the parking situation at UF. Right now UF and the City of Gainesville do not provide adequate parking for commuter students who are on campus everyday.

The details of this opportunity are:

The Who: UF and the City of Gainesville

The What: They do not provide ample parking for students commuting to campus

The Why: UF assumes that undergrad students live in proximity to, or on campus. The city of Gainesville is not concerned with student parking issues.

My hypothesis is based on the fact that I have first hand knowledge of the problem, and have spoken with several people that deal with the issue on a daily basis. From what I gather, if UF and Gainesville continue to not provide adequate undergrad commuter parking, then there is a huge opportunity for entrepreneurs to provide low cost parking in proximity to UF, because no direct municipal competition exists and the demand is extremely high.

While interviewing five of my fellow students at the Heavener Business School, I know this hypothesis has validity, because all five have issues with parking near UF. Either their midtown apartment doesn’t offer affordable parking, or they are a commuter student who cannot find parking to begin with. They all had a negative opinion on UF’s Park and Ride system, as it doesn’t allow students to get to class in a reasonable amount of time. This is something I had no idea about, but after speaking with students who use this on a daily basis, it is clear to me that the system doesn’t work.

6A- Broader Opportunities

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While researching the latest trends in regulation and economics, I found 4 different opportunities.

The first opportunity I discovered is a result of the new trade deal in North America. I watch the news often, so I was well aware that the previous trade agreement that existed, NAFTA, was being renegotiated with Mexico and Canada. After reading an article from Michigan State University regarding the deal, I discovered that Canada is now relaxing tariffs and quota’s regarding the dairy industry. Previously Canadian consumers were unable to buy dairy products from the US, which has a vast dairy industry with diverse product selection. There is now an opportunity to become an exporter of dairy goods from the US to Canada. This opportunity would serve Canadian foodservice and retail consumers, and would be relatively easy to set up, as you wouldn’t have to be the manufacturer of the products, but just the distributor/exporter.

 I saw this opportunity because my father worked in the dairy industry. I know the ins and outs of the business, and how vast the market is. The dairy industry is strong in the northern US, which borders Canada and shares similar culture, making exportation and marketing easier than products created in the southern US. 

The second opportunity was also the result of the new trade agreement mentioned in the MSU article. As a multilateral agreement, it covers all types of commerce between the countries. As a result the tariffs affecting the Steel industry were raised. Now there is a 25% tariff across the board for imported steel in the US. Here in lies the opportunity for US steel. American companies that previously were overlooked as a result of cheap imports, now have a huge opportunity. Even more so, the business that support the industry, such as marketing and distribution all have a new opportunity to serve buyers of steel. These buyers consist of heavy manufacturers, construction firms, etc. While becoming a steel manufacturer may be difficult, setting up a support business such as a steel marketing firm may not be, as customers are going to actively be seeking American made products. 

I realized this opportunity exist as a result of the numbers presented in the article. While many see high percentage tariffs as a discouragement from trade, I saw it as an opportunity if used to an entrepreneurs advantage. 

While regulatory based opportunities exist, there are also several that stem from the latest economic trends. 

One in particular that I came across was the 3D printing industry. According to IBISWorld, a leader in publish industry reports, the 3D printing business is the fastest growing industry in the US right now. While the design and production of 3D printing may be difficult to enter, the main opportunity lies in the resale and distribution of the products. Right now, only advanced departments at universities, and high level firms have regular access to 3D printers. The opportunity exists in marketing these to everyday business consumers, and creating business applications for 3D printers, allowing them to become common in most workplaces. 

I realized this opportunity because I have previous experience with 3D printers. My high school won a grant for a printer and I had limited access to it. However, there are everyday applications that could make them marketable to students and businesses.

Another opportunity I found as a result of my research was Massage franchises. According to the same research website as before, consumers spending on luxury goods has surged in the last 5 years. This is a result of the strong job market and overall economy. Massage businesses would be relatively easy to enter, and a single entrepreneur could manage several locations. The main customers served would be middle to upper class consumers, whose numbers are growing. 

I saw this opportunity because I often have issues managing my stress. While massages to me seem like an unnecessary luxury, several people I know manage their stress with massage therapy on a weekly basis.