28A- Your Exit Strategy

With this type of business venture, I plan on keeping the business as a family business. There will be always be great advances and technological changes made to make a more efficient and effective ways to improve the community. However, the need will always be there.  As long as I am able to continue to advance with the market and not lag behind, if pursued, I would one day like to pass it down.

I have  selected this particular exit strategy, because there is power in ownership and it is also a form of residual income and community advancement.

My decision didinfluence my opportunity. I did think  far in advance to the future, I was thinking both in the now and in the future. I chose a more long standing opportunity, that had great opportunities to grow in a field I was more passionate about. Because I have made my decision to make this business longstanding, my goal would be to grow and hire experts in this field to help me along this journey.

27A- Reading Reflection No. 3

The book I read for my final reflection was The Wright Brothers by David McCullough. I read this book because although I'm not fascinated with planes, the names seemed very familiar. The Wright's Brothers were very inexperienced with planes, however they were dedicated to the process. This surprised me, because most often we associate great inventions with people who are masterminds of their craft, but these two brothers had a great idea and they went after it. I most admire about them, there will power to try even when people doubted their ability. This still applies today, but many people do not take that negativity and persevere through. These two gentlemen, learned, failed forward, and conquered.

I accredit the Wright Brothers with the ability to fail foward. This trait is very admirable, because from their failures came great success.

I was surprised to find out the United States ignored this great invention. The U.S., seems so tech savvy, that I would've expected a push for more research, improvements, and the desire to even have the blueprint for this invention. However, the French were the first to notice.

I would ask, what made them go from owning a bicycle shop to one day inventing a plane? I would also ask, what gave them the strength to persevere through all of the negative critiques of their work and how did it shape their mindset moving forward?

As stated above, their hardwork is admirable. I associated the name with the invention, but I never truly knew the success story.

26A- Celebraing Failure

There have been many times I have failed this semester, especially outside of this class. In my Geology class, I procrastinated on studying, rarely particpated in discussion assignments, and when I realized that I needed to make a change I was already a little over a month in. I began studying, paying attention to lectures, however, I failed my first exam. I took a different apporach, looked up tips on how to study, tried not to procrastinate, even though I found myself falling back into those old habits. I had to drop the class, because I didn't want to ruin my GPA.

From this moment, I realized that I failed forward. I realized that it took me failing to realize that there was a problem within me I needed to fix, and that when I tried to change, although I didn't get the end result I wanted, I saw the progress that can and will be made from change.

I think failure, if done right, can be very beneficial. It is so easy to get caught up in stressing and thinking you are a failure, however, if you fail forward in anything you do, it can eventually lead to success. I was stressing, because I didn't want to fail. I wanted to be the best of the best even when I wasn't doing what was necessary to accomplish it. But I realized that every failure you have control over in the end. You have the control to change, to realize your mistakes, and you have the power to look at it as a stepping stone and not a hinderance in your future endeavors. Along with life, this class has taught me that there are so many different aspects that will challenge you, and that you won't always succeed at. The business world is a key example of failing forward. One failure can lead to the creation of a masterful innovation. Because of this class, I am more willing to risk it all, for a better end result regardless of the failures that may follow, as long as I learn from them.

25A- What's Next

Existing Market:

I spoke with a three random people who were very familiar with and actively participated with non-profit organizations. I pitched them my idea, and they were impressed and was looking forward to this idea being implemented on the market. When I asked them how do they see this business moving forward within the community, they said they believe my target audience would be great. Their biggest concern was making sure I was focused on the main needs of the students and families, and not trying to stretch myself thin by attempting to solve every problem at once.

I took this into consideration and realized that I needed to have a more focused plan, that eventually expands in the future. I will need to talk to more people who are more familiar with this field.

New Market:

I contacted a few people I knew who lived in the Alachua County school districts that were experiencing these educational gaps. I pitched them my idea and asked them similar questions to that of the previous interviewees. They liked the idea, but their main concern was longevity and continuous public awareness. They expressed a lot of times people are concerned because the awareness is new, but eventually the “hype” dies down.

After listening to their concerns, in order for me to maintain active awareness and activity, I have to continue to find ways to make people passionate and willing to give back to schools and the community consistently to make a difference.

24A- Venture Concept No. 1

Opportunity: There has been an increase in the educational gaps in the world, however, locally in the Alachua County area. Minority children, especially Blacks, face the challenges of their environment affecting their education and increasing the probability of their chances of being imprisoned, suspended, or lack of success in the future. This issue has persisted for decades and the problem has yet to decrease in statistics. By providing students and their families with the materials, resources, and more that they need, the likelihood of success will increase. 

Innovation/Venture Concept: After understanding and researching my opportunity and target audience, I came up with the idea of Students Succeed. Although Students Succeed is similar to many organizations that give back to the community, it adds a more inclusive approach from many people within the community. Families, students, and teachers are unable to receive the resources and supplies they need to create a more efficient learning environment. By presenting a foundation that not only gives back to the community, but places each student, family, school, and teacher in an environment to want to succeed and exceed statistics and personal doubts.

Three Minor Elements: My ability to work hard, social capital, and the ability to relate to the customers through similar experiences will be the advantage that sets me apart from other customers. To bring this venture to the next step, I will need to do some more demographic research, interview and speak with other non-profit organizations and get their take on providing this service, talk about the pros and cons, and possible successes and failures. For me, I am going to take what I have learned from this experience and set forth to begin my own business or non-profit in the near future. The tools learned from this class is an asset for future endeavors.

23A- Your Venture's Unfair Advantages

Advanced Technology:

With the use of advanced technology, I can expand my brand/product as technology persists to change. Due to me being in a tech savvy generation, I will be able to keep up with these advances and apply them. Not everyone is able to use or understand the complexities of technology, however, everyone can attempt to learn. There is no substitute for this, because technology is always changing in order to stay relevant and enhance my organization, this skill is a must.

Adaptability:

Having the ability to adapt to new changes that occur locally can benefit my service in the community and in the business world. Being able to adjust and make changes that will benefit the community and suppliers will advance my organization forward. Anyone can learn to adapt; however, some companies do not know ow to properly balance adapting. 

High Demanding Market:

There is a high demanding market to give back to the community. By understanding this market and appealing to it, this organization venture can flourish. There are a variety of large markets for different problems within the community. It is not hard to notice this market; however, it is difficult finding a new and advanced way that works that provides solutions. 

Connections: 

Having a startup company with connections in the very beginning is a plus. Not many companies have connections, and this can hinder their growth. By having connections, you have open access to valuable information, suggestions, and access to other business connections. This is not rare, but many companies get their connections later on in their business career.

Experience:

Experience is a key factor. By having experience, you already know some of the basic ins and outs of a business. Because my mom owns her business, I have been exposed to the basics of the business world. Having experience can also create an array of connections that can be beneficial in the later future. Many people do not have experience and jump headfirst into starting a business. This can be dangerous as you may not know certain steps to take, but it also leaves you open to learn various information about the market and business you are trying to enter. It is not hard or rare to find experience depending on the field you are entering. Many companies are looking for interns who are willing to learn about their business, be an asset, and be a reliable connection for you.

Customer Service Experience:

It is not hard to find a job field that is customer service. Many jobs interact with people and clients every day. Having customer service experience, in my opinion, builds character. Understanding both sides of the spectrum can also make you empathize and relate to the customer on a more personal level. You are more driven to take care of their needs in a timely, effective, and efficient manner, because you want it to be reciprocated if you were the customer. Some people do not have this experience; however, they are able to provide great service.

Patience:

I believe patience is key when starting a business. It is not something that can be learned but an attribute/characteristic you have obtained throughout your journey in life. A business without patience can self-destruct. There are many businesses who do not experience true broadcasted success (being well known by many) until they are 8+ years into their business. Having patience will allow yourself and your business to grow within its right timing.

Social Media:

Having a social media presence is not hard to obtain and many people have access to it, but many people do not maximize their full use of social media. Being able to access social media, using the tips and tools from the book I read, and more, social media can help me expand and reach my target audience better and more efficiently. This can be used to spread information, promote/advertise, and keep my audience up to date on new activities and events associated with my business/product. Social media is key in a day in age where technology is advancing, and everyone has a phone in their hand.

Location:

Location is very vital, as you have to market yourself in an area that is profitable. Expanding my business into an area that is highly populated by college students, and middle-class families, geographically is the best, as they are most often willing to give back to neighboring communities. It is not rare for companies to analyze the location of their business, as well as view the competing businesses within your ideal location. You also have to make sure the location/area is safe for customers and employees. It is not hard to copy as there are many companies with the same type of business in the same location; however, no one business is the same and every business provides something different. There are no other resources.

Strong Work Ethic:

Work ethic is very important, because the work and time you place into your business will show through your results, if not now then in the near future. Having a strong work ethic is rare in certain aspects. Many people start something and do no finish it. Strong work ethic can also be overshadowed by laziness and procrastination. Anyone can work hard, but the length of time that lasts is inimitable. There is no exception to strong work ethic. If you are not the specific person with a strong work ethic in your business, there is someone else behind the scenes putting in the extra work to make your business successful.

I believe strong work ethic is very important. People are not always going to be able to see your vision and understand the love and reasons on why you were birthed with this vision. Because others are most times not able to see this, they will not give 100%. However, having strong work ethic within yourself can help expand, advance, and push your business towards success. Strong work ethic/hard work beats talent when talent does not work hard.

22A- Elevator Pitch No 3

Link: https://www.youtube.com/watch?v=GXrGdW2pl&feature=youtu.be

21A- Reading Reflection No. 2

For this reflection assignment, the book I read was "The Art of Social Media: Power Tips for Power Users" by Guy Kawasaki. The theme of the book is helpful strategies to maximize one's use of social media. In the book, the author gives tips on how to attract and increase the number of followers, integrate social media and blogging, build your foundation, and more. These tips continue on and on as the book helps the reader conquer the social media world. 

In my opinion, this book connects and enhances what I am learning in this class. In order to market my idea, social media will be a key factor. As I learned from reading this book, social media goes beyond a simple post and a few likes. Social media is a gateway to expand your brand, and by adding this asset of knowledge learned from this class, it aids in better understanding of the business world. 

The exercise I would design from this book would involve taking an older company who is experiencing a decrease in their sales and needs marketing help, and have the participants trasnform and enhance their social media using the methods and strategies performed in the book. 

One of the 'aha' moments in the book for me, was utilizing the wants and needs of your target audience to grab their attention. I did know that centering the content around your audience was key, however, I also thought by using what you felt fit your brand would be the key to making your social media a success. 

20A- Growing Your Social Capital

Vincent McCoy (Domain Expert in Industry):

Mr. McCoy is a marketing director of his own startup company. We used to go to the same church in my hometown. I reached out to him regarding some information about marketing. He once assisted my mom with some marketing strategies for her own business. Although he is not directly associated or connected with this particular industry, he is well aware of the strategies needed to influece, directly/indirectly target the audience I was seeking in relation to my service. In asking him this, he said social media, a websire, and community wor of mouth is the best way to advance my foundation.

"Teens, college students, and many middle-aged adults are heavily on social media. They tend to use Google, use Twitter, Facebook, etc., and nothing seems to get by them. If they hear/see about something new and innovative they are more prone to check it out over the older generation Word of mouth is also your easiest and cheapest way of targeting your audience; however, it can also be what can destroy your brand. Once your business is up and running, and you get one good review, that person will spread the word, and your clientelle/ volunteer involvement is bound to increase."


Sonya Scott (Expert on Market)

Ms. Scott is a caterer and the owner of her own catering business, who I knew through association with my mom. Although she is not in the market for organizations, she does know about the care and handle of providing quality food and services at weddings, galas, charity events, etc. With her assistance, I was able to understand the need to keep food at proper temperatures, opening up a staffed kitchen, and more.

“I believe the key to providing key quality service is open and clear communication. You must be open to lay out standards and expectations of your staff to ensure they follow clear guidelines and execute great customer service. However, customer service and food quality are two different things, but go hand in hand. In your case, not only must you make sure the food is kept at sufficient temperatures, you have to make sure you provide great quality by having the best equipment possible to keep food properly insulated, and more. You have to consider the tangible and intangible.”


Mario Hall (Supplier in Industry)

Mr. Hall is the founder of his own charity foundation, who I met through association with my mom. He is very knowledgeable about the giving back process, the financials, and receiving and giving the supplies to families and children.

“There is a lot that goes into charity foundations that many people don’t understand. There are documents, financial forms and more that must be filed each year when you receive, spend, etc. with the money. That is the biggest thing in your case. People will be passionate about giving back, however, you must ensure you are able to keep up with your finances and inventory to ensure your foundation continues to run.”

This experience made me realize that connections, understanding your product and market, and educating yourself on the market you are going into is essential. In the future, I will need to know specifically what I want to accomplish, with an open-mind to possible adjustments in regards to the way I can reach my target audience and how to effectively provide quality service to them. This experience was similar to some of the other networing experiences I had in the past, except these were via email and not face to face. I was open to the knowledge they gave, and the criticism/ support they gave. However, with each experience I learn something new about the market and platform.