Assignment 30: Final Reflection

1. I definitely had a lot of good moments doing some of these posts for this class. Although I think I had a rough time coming up with the 20 bug list ideas was pretty difficult, it was different thinking about how many things actually bugged me. However, it did get to the point where I had to start thinking about things that didn't necessarily bug me but could bug somebody else. The interviews were definitely annoying because of having to go to so many more different people. It was really hard to find the time to go out and interview people. The assignments were all quite easy, but the venture concept was probably the most time consuming one of all. took a lot of thought for each section that you had to put into it. I liked the elevator pitches, just a little, because it helped me get better at presenting in front of a camera. 
2. The most formative experience that I had in this class was the elevator pitch because, like I said, it helped me better my skills in performing in front of a camera. It helped me focus on being natural and being who I really am instead of cracking down under pressure. The experience that I'll remember for years later will be the reading reflections because of how interesting and eye-opening the books I chose were. The books helped me think of failure in various ways and helped get a deeper understanding on Phil Knight. My most joyous experience is the one I have now because of this semester being done knowing that this will be the last post I'll be writing. The experience I am most proud of is the elevator pitch again because I was never good at performing in front of cameras. This assignment allowed me to stem from comfort zone and overcome something I still was yet to accomplish. 
3. Now that this semester is over, I do feel that I've acquired an entrepreneurial mindset. I now see things as opportunities and I also see things as learning experiences rather than failures. I do feel like I am progressing further and further into an entrepreneurial mindset.
4. For future students who will be taking this class, I would recommend that they do the assignments ahead of time. Some of these assignments will interfere with other exams and you will just stress yourself out if you leave the assignments till the day that they are due. Oh and watch the lectures because the cupcakes are just bombs with frosting on them. To foster this mindset, I would say to dedicate yourself time within the day to work on the assignments for the class. If you feel like you can't do the assignment, take a break and think about something else and then come back to it. If you decide to do this at 11:30 on the day the post is due, then good luck.

   

Assignment 29: Venture Concept No.2

Bulk Bites

Opportunity

The opportunity that I am going for is creating a product to satisfy the hunger in between meals for people. The people who have the need are those in the gym and college students. The product is made to be an aid to increasing muscle mass for those who go to the gym, and it is also a nice little snack to eat while going in between your classes for college students who are unable to take time to go to a place to pick up something to eat. The nature of the need is everyday for college students because of the lack of time created by studying and going to classes. The nature for gym goers is also everyday because they normally want to keep their muscle mass size up. The forces and/or changes in the environment creating this opportunity is the lack of time college students have to get things to eat in between their meals, and the sometimes the lack of effort gym goers and college students have to make their own snacks. Currently, the market is targeted towards Gainesville and Boynton Beach in Florida because of me going to school in Gainesville and living in Boynton Beach. In terms of demographics, I'm targeting those who are between 15-35 years old, men, and woman. These individuals are normally people who go to the gym and college students who lack time to get snacks or make them. Currently, people are satisfying this need by buying protein bars from the grocery store or making their own protein shakes. However, I feel that people are not too loyal to these forms because of the lack of tastiness of protein shakes and the lack of knowledge of what's put into making the store-bought protein bars. The opportunity really isn't that big because not a lot of people find this as a problem. I think the "window of opportunity" will remain open because of the new generations to come for college will acquire the same problem that current students are having, there will also be people who are trying to increase muscle mass at the gym. 

Innovation

The product that I am selling is made up of peanut butter, oats, honey, protein powder, raisins, or any other ingredient that is recommended to me for their batch. The product satisfies all the nutrient values for protein, carbs, fats, fiber, sugars, and fruits. This product is meant to satisfy hunger in between meals for a short time in order to keep you full till your next meal. The product is meant to be eaten as about 2-3 "bites" per in between meals. The product is meant to help build on the gains at the gym and satisfy the huger for college students in between meals. I'm selling the product in bulk (hence the name) by 10 and 25. I am selling the batches for $15 and $25 respectively.

Venture Concept

My product will address the opportunity of hunger by supplying people with a healthy, homemade snack that they can eat in between their meals. People will buy my product because it's not too expensive, it's healthy, and it's homemade. The reason I think that people will switch to my product is because people get bored of eating the same protein bars and protein shakes. I design my product around personalization where people are able to choose some of their added ingredients as opposed to getting the same product all the time. I feel that it won't be hard to get people to switch because of the factors of taste and mystery involved in what you're getting out of the alternatives. The competitors are the grocery stores/people who supply their protein bars in the store and protein shake companies. The vulnerabilities and weaknesses of these companies is that they don't have homemade products and they normally have ingredients that nobody can pronounce. They also don't allow someone to personalize their products because of how expensive it is for companies to do that. The role in packaging, price points, distribution, customer support, and the business location don't really play a huge role in my product. The role of customer experience does because I'm allowing my customers to put in any ingredients on top of the base ingredients that they want into the bulk bites (raisins aren't a base but is good for a first batch). I wouldn't grow my business bigger to the point of gaining employees. The general role of my venture is to be small and emphasize the homemade factor of my business. 

Three Minor Elements

1. The most important resource of my venture is the homemade factor. By staying small, I am able to appeal to those customers who worry about what's in their snacks and foods. It would be hard for companies to match this because of how inefficient they would be if they were to try and achieve this goal. 

2. What's next for my business would probably sell to-go containers for the bulk bites. I was thinking about making the containers in the shape of little spheres that will house maybe 3-4 bites. I was thinking about designing them to look like things in world culture such as dragon balls or poki balls. Probably sell these containers at around $5-$10 each.  

3. For the future, this will serve as some side income as I'll be dedicating most of my time to firefighting. 

Summary of Feedback

Almost all of the feedback that I received was positive except for my feedback on the Bulk Bite Kits. The comment talked about how the kits will enable people to learn about how the product is made and prevent them from purchasing from my company again because of them having the recipe. They talked about how this is the reason why recipes are so heavily guarded by companies. Other than that, people really supported how detailed I was in the innovation aspect and that the new potential market that I highlighted in the "What's Next?" post were some really good ideas. 

Changes

Based on the feedback that I received, I scraped the idea of making a kit for people to make the product at their homes. Instead, I am focusing on making the little to-go containers that will not only help gym goers and college students transport the bites with them, but it will also serve as a to-go container for outside workers and kids for when they transport the bites via lunchboxes. 

Assignment 28: Your Exit Strategy

1) The way I'm handling my business is that I'm going to keep on doing the service until I find something to replace it. For now, it's a good form of some side income and I don't see much of a threat or competition coming from other people. But I intend on keeping the business small and not doing much to necessarily expand it because I don't want to have it to where I would need to hire employees. This whole venture isn't meant to be the start of some big business plan to be completely honest.

2) I selected this particular exit strategy because I plan on focusing a lot of my time to firefighting in the future and I don't really see this business expanding more than around town. This is also just a little business for me to have some extra cash for college because food is often pretty pricey; especially, when you like to cook a lot of interesting meals.

3) I do think that my exit strategy influenced my other decisions because from the get-go of the whole "creating a business venture" I was already planning on what I was going to do with the business. The resources I chose, especially Adam, is very close to me so I am able to just take a 10 minute drive to get some protein. Plus, I can get the rest of my resources from Publix and Target which are right down the road. I already had this opportunity going before this semester thinking that it wasn't going to be a life-long thing so the opportunity was influenced by the exit strategy. It also influenced my growth intentions because I don't plan on growing a business where I have no intentions on making it my primary job.

Assignment 27: Reading Reflection No.3

Thinking Fast and Slow by Daniel Kahneman

1)  The purpose and argument that the book is illustrating is that people often think irrationally due to faulty intuitions. Kahneman describes two systems: one automatic (impulsive) and another conscious, and how these two systems ultimately shape the reason for how humans behave and react to instances. Kahneman also talks about how your brain is lazy and how this restricts you from using your brain's full potential. Furthermore, with our brain being lazy, this causes humans to make errors when thinking things through. Another thing that Kahneman mentions is that people shouldn't use their emotions when trying to make decisions with money involved. Kahneman explains that humans are more afraid to lose what we currently have as we're trying to receive more.

2) The book connected with and enhanced what I'm learning in ENT3003 by thinking about how reaching to new markets could help our business ideas. If we were to make an impulsive decision (System 1) we would ultimately think that reaching to these more outlier market will increase and benefit our business. However, if we think more about it using more of System 2, we may figure out that trying to reach these out-lying markets will be bad for our business and cause us to lose money instead of earning money. 

3) I would create an exercise where students make a list of things that would require the students to use each of the the two systems. Maybe do five examples of each system. This would require students to examine their day-to-day decisions, classify which system these decisions fall under, and explain why students think that the decision belongs under that system. I believe this will aid in the student's deeper understanding of how we make our decisions and how much effort we actually place on them.

4) What I found surprising when reading this book was how your brain competes with itself into thinking that you've found the right answer through the two systems. Sometimes when reading a question out and planning how to solve it, your brain initially goes through the first System, in which it thinks that it can handle answering the question without the help with System 2. When in reality the question is not as simple as it appears. This causes people to make mistakes because their brains perceive something too simple and not complex.  

Assignment 26: Celebrating Failure

1) During this semester, I tried to balance my time for each class I have; however, I struggled to keep a consistent schedule. For instance, I would dedicate most of my time to either one class like finance and stay away from my other classes until I either had something due or there was an exam coming up. I started in the beginning of the semester pretty well; however, when it came to the second exams for both my Finance and Management classes, I fumbled my time and didn't execute my goal on keeping a consistent schedule.


2) What I learned from this hardship is that if I put more effort into actually being interested in the subjects that I am learning about that I'll have a better time when it comes to test my knowledge in exams. For example, when I was first studying for my first finance exam, I forced myself to become interested in what I was learning. This not only helped me understand the information better but it also helped me have a little more confidence going into the exam. It also helped get a little bit of the stress off my mind.


3) If you haven't noticed, I never used the word "failure" until just now. The reason why I don't use the word failure is because it doesn't exist. People do one of two things: they either quit, or they keep on going. In reality, I don't even think that the "failure" I put in the first paragraph is a failure because I never quit on making the time for each of my classes. Yes, I do create obstacles in my schedule that caused more attention to specific classes, but that's just what they are, obstacles. You're not a "failure" until you've quit on yourself. If we were able to go more into the past for a failure, I would've went back to when I quit playing football. Honestly, how I would handle failure (an obstacle) is by looking past it and sometimes even going back to it to find out why it happened. If I find why and how the obstacle happened, I can alter how I approach the same task in the future. I wouldn't allow the obstacle to bring me down or anything like that because life is basically just a big learning experience. If you approach life with intentions of not having hardships and obstacles, you won't be ready for when they come. In regards to this class changing my perspective on failure, I don't think the amount of risks I'm going to take will change. I sort of understood what failure meant in this class and I feel that it had many similarities with my own personal understanding of failure. 

Assignment 25: What's Next?

Existing Market

1. What's next in terms of my product is to start making prototypes and have people try the bites themselves. I feel like at the price that they're at it's not really that appealing to buy a whole batch just to try one. Furthermore, I would also like to maybe setup some free samples for people to try. Maybe dedicate one whole batch so that people can try the product before they buy them.

Interviews

1. Danny

• Danny talked about how I should be planning my time in case of big orders. Since it takes a lot of time to make, he recommends that I schedule what I need to do that's unrelated to making the Bulk Bites and work around those things. He likes the idea of creating a batch of samples because people don't want to buy something that they don't know what it taste like; especially, if they would be dropping a minimum of $15.

2. Conner

• Conner talked about creating more differential batches when it comes to how many people want to buy. He recommends that I should make lower quantity batches and higher ones as well. After telling him about my ideas, like Danny, he was all for the extra batch for people to sample.

3. Michael

• Michael talked about creating a package for the Bulk Bites. He recommends that I not only have the batches but also a unique package that appeals to the customer. He also recommended that I do a to-go container for people on the go and those who want to take some to the gym. When I told him about my ideas, he recommended that I do make the sample batch, but also do what Conner said and create small batches.

Future Path

For the ideas that I had before the interviews, I'm going to stick with them. I'm going to create a batch of samples so that people are able to try the product before they buy them. I will most likely create different ones with maybe a few ingredients changed so that it highlights the personalize-able aspect that I am trying to implement into my venture. Since all of my interviewees liked the idea of the sample batches, I'll most likely do this in the future.

Reading through the feedback I got in the interviews, my interviewees gave some good ideas that I can put into my business for the future. I've always thought of making more incremental batches for those who were more worried about the price of the batches. I just felt that it would be kind of a headache and inefficient to make the batches too small or too large. I really liked Danny's idea of building a schedule as to when I will be making the batches because it's key that they don't just add stress to my everyday schedule. 

New Market

1. Since it seems that I'm marketing more towards those who go to the gym and college students, I think I may expand my target market to mothers and people working outside. 
2. These two groups would be perfect to market to because of their situations. For mothers, the snack would  be perfect to go into their kid's lunch boxes. The Bulk Bites will satisfy all the needs in terms of nutrition for a growing boy/girl providing protein, carbs, sugar, good fats, and fiber. For those who work at an outside job, the sun is constantly stealing calories from your body causing these individuals to have a need for a surplus of calories. These Bulk Bites would be perfect because they're quick to eat and they supply a high enough calorie content to satisfy the outdoor worker's need for more calories in the day.

Interviews

1. Mike

• Mike thinks that my business can help those who work outside because currently he would normally just run across the street to get something from a fast food place instead of making a snack before he heads to work. The fact that my product is healthy makes it more desirable than continually going to fast food places to get a snack between meals. Mike thinks that I should make a carry to-go container where individuals can just bring a little container instead of the whole batch package.

 2. Carol

• Carol is part of the mother market where she needs to make snacks for her kids to eat while at school. She normally struggles to find things on the shelf that are both healthy and tasty for her kids. Carol said that if my Bulk Bites are tasty, that my product could go the distance in the market. However, some adaptations that she recommended was to increase diversity in the ingredients because a lot of kids are allergic to peanuts and that will affect the reach to these kind of mothers.

What I learned about the New Markets

In terms of the outside worker, I learned that working outside is really detrimental on your calorie storage. The sun depletes a lot of the calories causing a lot of outside workers to burn more calories than those who work in an office all day. So to battle this, these individuals consume a surplus of calories, and it doesn't matter what kinda calories they are. Most of the calories that they consume are unhealthy which is where my product would shine in the market. My expectations about the outside workers market was correct in that they require more calories than the normal in-office individual. I do believe that this market seems to be about the same level as the existing market that I'm trying to reach. 

In terms of the mother market, I learned a lot about the constraints that I would have if I were to enter that market. Things that I would have to watch out for would be how my product tastes. The taste of my product needs to appeal  to the younger generation where they are very picky on what they like to eat and don't necessarily care about how healthy the snack is. Another thing that I need to watch out for are allergies. A lot of kids are allergic to things like peanuts which is one of the main ingredients to my snacks. So I would have to see if I could someway substitute that in the recipes for those with this kind of allergy. However, my expectations for the market were correct where I knew that I was going to battling picky eaters, but didn't realize the peanut allergy situation. On second thought, this market doesn't seem to be as attractive that I thought it was going to be. I feel that it may be more of a hassle than a benefit to my venture.

Assignment 24: Venture Concept No.1

Bulk Bites

Opportunity

The opportunity that I'm pursuing is solving hunger in between meals with a healthy snack. Those who are heavy into working out, this snack is meant to aid them in growing muscle mass by providing this snack to be eaten in between meals. However, for those who aren't heavy into increasing muscle mass, this product is also designed to be eaten to ensure that people are getting their needed calories for the day. Those who have this need are primarily gym goers and college students. The nature of the need is usually an everyday thing. For college students, the product is normally designed for cases where they are overwhelmed with classes and are unable to get something to eat. The snack provides a healthy way that students can get their needed nutrition for the day. Forces and/or changes that are creating this opportunity is the slow shift into more and more people wanting to work out and become stronger. For students, classes are the primary sources of change that create this opportunity. The market that I am targeting are the students at the University of Florida. I'm marketing my product to both male and female. This product is primarily marketed to the 18-30 age range mostly because the product is for those who are students and people who regularly go to the gym. Currently, people are satisfying this need by making protein shakes and buying store bought snacks that they can eat between their meals. I feel that people who take protein shakes aren't too loyal to the shakes because they take too much time to make and there's too much cleaning involved. Those who buy store bought snacks I feel are a little more loyal to what they buy to a certain extent. They like the selection and ease of purchase; however, they can get sick of certain flavors of snacks that are on the shelves. The opportunity isn't necessarily too big because there are a lot of alternatives available and some people already make their own snacks. I feel that the window of opportunity will always be open because there's always going to be new college student and people who are trying to get bigger in the gym. As long as people don't want to spend their own free time and effort into making healthy snacks, the opportunity will stay open. 

Innovation

The product that I am offering is a healthy snack made up of peanut butter, raisins, honey, oats, and protein powder. This product satisfies all nutrient values including protein, carbs, sugars, and fruits. This product is meant to satisfy hunger for a short period of time in between meals. How this product works is that you eat about 2-3 "bites" in between your meals to hold your stomach off till your next meal. Its meant to build on your gains in the gym and satisfy the normal person's hunger. I'm selling my product in bulk (hence Bulk Bites the name) at 10 and 25. The prices for the Bulk Bites are $15 and $25, respectively.

 Venture Concept

The Bulk Bites will solve my opportunity because its designed to help individuals who go to the gym a more satisfying way of in-taking protein powder, which is what they might use to make shakes. For the college students, the snack is quick and easy to eat because of how small they are. They're easy to transfer and normally 2-3 satisfy the hunger of a normal college student; therefore, each 25 batch will last a while for them. Gym goers and college students will buy my product because it's healthy and it provides a new way of getting their needed nutrition for the day. Among the alternatives like protein shakes and store-bought snacks, my product is far tastier than any shake and healthier than any snack that's on the shelf. The reasons why gym goers will switch is because gym goers understand that it's better to have physical forms of nutrient intake and will see that its a lot more simple and cleaner than a protein shake. Shakes are also less filling than physical food. The reason why college students will switch is because they're almost always hungry and they don't have to put in the time and effort to make their own snacks. I do feel that it'll be hard to get people to switch because people don't know the taste of the snacks. I guess the competitors for what I'm going through are the companies who make protein bars and health bars. The possible weakness and vulnerabilities to these companies is that they don't emphasize the homemade and healthy factor. The customer experience is the main factor that is defining my opportunity because I'm allowing my customers to give feedback on what they may want specialized for their batch. Some individuals may want something changed from the original recipe because they're allergic or don't find it enjoyable. I don't plan on expanding too large to where I would need employees; therefore, I don't have a number for the amount of employees I would have. The role in my venture is to stay small because I want to emphasize the fact that my product is homemade. 

Three Minor Elements

1.  My most important resource is the homemade factor of my product. Because I plan on staying small, I am able to appeal to customers who worry about what's in their snacks. It's hard for companies to match this because it would be inefficient for how big they expanded their business.
2. What's next for my venture is maybe selling a Bulk Bite kit that'll enable individuals to make the product themselves if they wanted to. In this kit, I would include a to-go container that would be designed like unique objects such as a dragon ball or a poki ball. 
3. For the future, I want to have a steady "side income" for this venture because I'll be dedicating most of my time to firefighting in the future.

Assignment 23: Your Venture's Unfair Advantage

Resources

1. Adam who owns a supplement shop

• Valuable - I am able to get a discounted price on protein powder which is one of the most expensive ingredients that I need for my Bulk Bites snacks.
• Rare - It's quite rare to acquire Adam because I've created a close friendship with him that I am able to get deals that a normal stranger might not get the access to. 
• Imitable - It would be quite hard for others to copy because they would have to find someone that is similar to Adam and had formed close relations with them for almost 4 years.
• Non-substitutable - You can't really substitute a person like Adam; however, I'm sure you can find someone like him out there.

2. My Parents Money

• Valuable - I am able to get a startup fund to buy the first round of Bulk Bites. With each round of buying supplies, I would be able to make 2 batches of Bites. This enables me to replace the money I used for the supplies and have extra supplies to make another batch for added revenue.
• Rare - It's not hard to get money from your parents so I don't find this resource very rare.
• Imitable - It's very easy for someone else to copy because they could just ask their parents for some money.
• Non-substitutable - You can probably substitute your parents money by using another family member.

3. Access to Grocery Store

• Valuable - I am able to purchase organic ingredients that go into making my Bulk Bites.
• Rare - Grocery store access is not very rare. There is usually a grocery store within a 10-15 mile radius of where a person lives.
• Imitable - It's easy to copy access to a grocery store because it's public.
• Non-substitutable - There are many substitutes for grocery stores including farmers markets and other local food stores.

4. The large amount of people I know at the gym

• Valuable - The people that I know at the gym are valuable to me because they will pose as a customer base to get my business started. I've already sold some batches to my friends and they've loved them.
• Rare - It's not that hard to make friends at the gym. Usually people that you grow up with would go to the gym so it really isn't that hard to acquire.
• Imitable - It's easy to copy because you just need to make the effort to get to know people in the gym.
• Non-substitutable - You can substitute the people that you know at the gym by just having friends who are struggling with consuming enough calories on a day-to-day basis or are always hungry. 

5. The free time I have

• Valuable - The free time I have is crucial for me because allows me to make the Bulk Bites for people. Plus, the reason I'm making these snacks is to help people not waste their own free time to dedicate to making snacks. That way people can spend their free time on more beneficial activities and activities that align with their interests.
• Rare - Free time is definitely a rare resource because most people procrastinate and utilize their free time for less stressful activities such as taking naps or watching TV/Netflix. People don't want to use their free time to make these snacks.
• Imitable - It's easy to copy because we all have free time in the day. We just choose to coordinate activities in places throughout our day that take away from our free time.
• Non-substitutable - This resource is not substitutable. The only way to substitute free time is to use that time for some other activity.

6. Being a college student

• Valuable - College students would be a big part of my customer base because students don't always have the free time to make their own snacks. Furthermore, college students don't always get their needed calories making them almost always hungry. Also, since I am a college student, it allows me to connect easier with my main customers.
• Rare - I would say that being a college student is moderately rare because even though a lot of people want to go to college, some people feel that college isn't for them. Another reason may include that they don't have the money to go to college. 
• Imitable - Being a student is easy to copy if you feel that college is right for you and that you have the financials to allow you to take classes.
• Non-substitutable - Being a student can be substitutable by not being a college student.

7. Fair amount of money in bank account

• Valuable - It's valuable to have a good amount of money in my account because it allows me to contribute to my own business with personal funds if my parents are unable to supply financial capital. 
• Rare - I feel that this resource is moderately rare because you would have to have a money saving mindset. Not a lot of college students and people have this kind of mindset.
• Imitable - This is easy to copy if you restrict your unnecessary spending. 
• Non-substitutable - This can be substitutable with funds acquired by parents.

8. Openness to self-selection of ingredients

• Valuable - Gives people a uniqueness to the snacks that they are receiving. Allows for the product to be tailored to the customer's likeness.
• Rare - It's not too rare to find a company that'll tailor a product to your likeness. However, many companies that you buy from to get your snacks aren't open for changing a specific ingredient for just one person. Maybe, if they get feedback from a substantial amount of people, then they'll make a new product that has that change.
• Imitable - This is hard to copy because it would cost a lot of money for bigger companies to continually change what they put in their snacks.
• Non-substitutable - The only substitute for this may be to just make a general product and not make it tailored to customers. 

9. The product being made by hand (currently doing this)

• Valuable - Some people prefer that their product be homemade because they feel that the product is unique. Plus, I would save on having to buy a machine for making my product.
• Rare - It's hard to find companies that make their products by hand.
• Imitable - It's hard to copy because most of the companies that are supplying snacks are usually getting high amounts of orders where it would be inefficient to make their products by hand.
• Non-substitutable - Can be substituted with machines to make the process faster and easier, but it takes away from the uniqueness of the product.

10. Product made in bulk

• Valuable - Allows me to have time between orders because of the amount of time it'll take for each customer to go through a whole batch.
• Rare - It's rare to find a company that'll make 25 snacks for one order while also offering smaller orders at 10. Most companies want to make smaller amounts to have the customers keep coming and coming in a short amount of time.
• Imitable - It's easy to copy for other companies because they usually make large amounts of snacks, but sell in small packages. They feel that it's more profitable that way.
• Non-substitutable - I can substitute this by making the snacks in smaller amounts. However, that's why I also offer a 10 snack package instead of the 25 snack package.

Top Resource: Adam (supplement shop owner)

I feel that my top resource would have to be Adam because I would be able to make my Bulk Bites at a lower cost of supplies. This gives me a higher profit margin and helps me save money. If I buy my protein from Adam, it allows me to buy my protein in bulk instead of buying single packets of protein from my local supplement store. On top of that, I would get a discount on the protein I get from him making me pay 50% less than if I bought the same amount from say Vitamin Shoppe.

Assignment 22: Elevator Pitch 3

Elevator Pitch

Reflection from last Pitch feedback

What feedback that I felt was most important about my last elevator pitch was how natural I presented myself. I've always struggled when performing while being filmed; however, the feedback that I received from my last pitch seemed to be the opposite. I carried myself in a way that made it seem that I was more natural in my last pitch and this I felt was my most surprising feedback. A lot of the feedback that I received was based on how natural I presented myself and that I was a lot more natural at that time around. Another comment that I received was about my hook being really good for being thought of on the spot. I tried to incorporate a new one this time around to make a little change as well. It was amazing to hear that my pitch was natural because of how much I struggle to keep composure while in front of the camera.

What I changed based on the feedback

I didn't really change a thing because a lot of the comments were positive. The only thing I really changed in this pitch was the hook again because I didn't want to make it seem that I was just repeating that same thing I did for the previous pitch. I definitely felt that I was more comfortable in the camera this time around and that my pitch almost felt memorized and easier to pitch to the camera. Other than those few things, the pitch was good overall and didn't really need much change.

Assignment 21: Reading Reflection 2

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

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

The general argument in the book is that failure is not always a bad thing. Scott Adams wants us to invite failure into our lives because with failure comes learning. However, if you allow failure in your life but don't learn something, it's not necessarily a good thing. Adams also recognizes that failure is the raw material for success. To achieve success, one must position themselves that favor a high chance of luck.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

One of the things the book talks about success being somewhat dependent on the people you know. Adams points out that a friend helped him give a speech when he was having trouble. This connects with this class because we have a chance to connect with group mates to discuss their perspective on how they may interpret an assignment. This is just like the peer reviews that we have on each assignment. This book enhances what I'm learning in ENT3003 by means of the cupcakes. I usually fail at the cupcakes by how specific and tricky some of the questions are. While it may seem terrible, I'm still learning a great deal of information by taking them which is the whole point that the book is trying to make.

3) If you had to design an exercise for the class, based on what you read, what would that exercise involve?

The exercise that I would design for the class would be to make a list of priorities in your life. Break your priorities into a target where priorities that are for you is the bullseye, the next ring is your personal finance, the following ring is personal relationships, and the outer ring is the rest of the world. You would want to set up a certain rule to manage conflicting interests. This rule will allow you to break your priorities into the four categories. You want to make sure the most important priorities are those that enhance your energy.

4) What did you learn that differed most from your expectations?

 What differed from my expectations that I learned was the fact of incorporating luck into something to consider. I would never have thought that looking for situations that gave a high chance of luck would be part of making key decisions and business moves. It was definitely interesting to hear that you can have average skills, perseverance, and luck and be as successful (or even more) than someone with higher skills and that works hard. Another thing that surprised me was that Adams called passion bullshit and that it is often misleading.

Assignment 20: Growing Your Social Capital

Interview 1: Adam

1) Adam is a supplements vender who markets his supplements on Amazon. He sells things like protein, preworkouts, and fat burners, but most importantly, protein bars and snacks.

2) Domain Expert

3) I go to bootcamps a lot and while I was attending a bootcamp I found Adam. I told him about what I was trying to do and described this assignment and he was more than happy to participate. 

4) The favor that they did for me was give very helpful tips on how to connect with suppliers for top brands. Having one of my main ingredients to be protein powder, the information he gave me will allow me to find and acquire a supplier for my ingredients. 

5) Keeping Adam in my network may allow me to get some key discounts for product that he sells.

Interview 2: Philip T.

1) Philip is a crossfitter who goes  to competitions to compete. He's exposed to a lot of people that I am trying to market to and spread the word of my business. He's also a trainer at some of the crossfit gyms that he goes to.

2) Expert on Market

3) I found Philip just like how I found Adam. Actually, Philip was Adam's personal trainer when I met with him. Philip connected through passions for both working out and playing football. However, our conversation left those two subjects and drifted towards the Bulk Bite idea. I showed him my elevator pitch to see how effective it may be.

4) Philip reviewed my elevator pitch and gave me some helpful tips on how I can market more to my customers. He said not to be so much cut and dry, but to be more lively when I'm talking about my product so I can show people how passionate I am about Bulk Bites. He wants me to make a new pitch and to get back to him on it.

5) Keeping Philip in my network is key because he is a very verbal person and the fact that he travels a lot to many different places, gives me an outlet to spreading the word about my new business.

Interview 3: Brian

1) Brian is a producer of an awesome protein company called GENEPRO. It's a medical grade protein that he markets to people and businesses. Brian is actually one of the suppliers for Adam.

2) Important Supplier

3) When I was connecting with Adam and telling him about the kind of people I needed to interview, he recommended that I see Brian. He told me that he was a supplier for his business and that he could give me some insight for my business. So, I called him up and scheduled a day we can meet in person. From there, I showed him my idea napkin.

4) The favor that he did for me was that he reviewed my idea napkin to supply me with some feedback on how my skills and abilities may help me land some supplier deals. The return expectation was to get back to him in the future if I needed help with finding suppliers for the protein aspect of my business.

5) Keeping Brian in my network will allow me to get key information on how I should go about getting a reliable supplier. Maybe when this business starts to boom, I'll need a big supplier which is where he would come in. Right now, I would probably be satisfied with just Adam's discount on protein.

Reflect

Going through these interviews was very helpful. I discovered a lot of new information on the industry and market itself. This experience will shape how I will participate in future networking events by making me more comfortable in speaking with people on a business level. I noticed that while I was connecting with these individuals, I was fumbling over my words because I was getting a little nervous. If I was more relaxed and calm, I feel that I would appear as more professional and prepared. This experience definitely differed from networking experiences in the past because I feel that I needed to say the right words for these networks. I could probably fumble over my words in the past interviews because it was with people I already knew. These people were new, which carried a sense of how should I tackle these interviews. But overall, I think I made some good progress on expanding on my social capital.  

Assignment 19: Idea Napkin No.2

You.

Some of my talents is being able to persuade people. This could be great for getting people to invest in my idea of creating Bulk Bites. Some of my skills and abilities that I have is being able to socialize and talk with people on a deeper level. I would be able to connect with my customers on a personal level rather than a business level. Some of my past experiences in the fitness industry, such as working for a close friend of mine who sells supplements, helps me understand what to expect when pursuing this market. I see this business as being a side business in my life. I would put being a firefighter ahead of this business.

What are you offering to customers?

I am offering a healthy snack that is natural and affordable. This product would save people time and effort from making their own snacks. 

Who are you offering it to?

I'm offering my product to customers who worry about getting mass and results as a product of going to the gym; as well as, people who worry about being healthy that need a simple snack in between their meals. The age range that I'm targeting is the 18-30 range where people are worried about gaining muscle and mass. I'm also targeting the Gainesville college students because I'm not currently in the vicinity of my original audience. My product is open to anybody and anyone (except for those with peanut allergies). 

 Why do they care?

People will pay for my service because many people don't have the time or effort to go and try out different recipes and make healthy snacks for themselves. People don't want to have a constant worry about making their own healthy snacks which is where I would come in. Fitting this type of thing into their schedule would be quite difficult making it easier for me to slide in and effectively market to these customers.

What are your core competencies?

What sets me apart from everyone else is that I am willing to set aside time from my day-to-day schedule to make healthy, homemade snacks. What I have that nobody has is the authenticity of making the snacks by myself and with no other help. I don't have things like machines or other help that could alter the effectiveness of the snack.

Evaluation

I feel like all these aspect fit together. My ability to socialize and connect with people allows me to spread my business idea. Plus, me understanding the market allows me to vision what my customers require from me and what I feel that I need to do to keep them as loyal as possible. Also, understanding that time and effort is a key problem among my audience allows me to effectively reach them and create something that solves their problem. Furthermore, the facts that I'm exposed to my audience just about 24/7 also helps.

Feedback Memo

For the feedback I received, I feel that the idea of utilizing protein shakes and other marketed protein bars in my thoughts for alternatives gives me an idea of how I can tackle the situation of solving my customer's problem of creating a healthy snack. Also, the feedback I got on changing my audience to those in Gainesville was perfect because I'm there more than half the year. I tried a little more to connect how I am to the opportunity that I am pursuing. I tried to connect past experiences I had in the industry to sort of connect to why this would be a good venture for me.

Assignment 18: Create a Customer Avatar

The Avatars

Description of Customer

I'm targeting men and women who look at themselves in the mirror like the guy in the second photo. I want the people who want to have the goal of being swole. My target market are those who want to gain the muscle that they have been working hard to try and achieve. These people are usually in the age range of 18-40 years old. The "wanting to get big phase" usually starts after high school/during senior year and normally continues through the thirties. These people don't necessarily have a certain haircut or skin tone, they all just have one goal in mind, and that is to get stronger and bigger. How my customers dress is normally a tight fitted shirt or tank tops to show off the progress with basketball shorts. For women I would think compression pants with either a workout bra, crop top, tank top, or shirt. My customers also where Converse, Metcons, Nike Air Max 270s, and sometimes just regular Nike frees. Can't really specify what car they might drive because everyone is different. They listen to either rap (modern and old school) and hard rock (Disturbed, Linkin Park, System of the Down, Godsmack). Some of my customers will bring journals on what they did during their workout and may count their carbs (micros and macros). 

Further Questions

I technically am one of my own customers. I am basically all of the qualities I described for my customer avatar. I'm 20 years old and I wear tight fitted shirts (I kind of have no choice on this). I wear Metcons, basketball shorts, and I listen to rap and hard rock when I'm working out (country and old, nostalgic songs throughout the day though). However, I do not have a journal or count my carbs. I don't think its a coincidence that I have the same qualities as my avatar because I'm in the same boat as my avatar. I want to get bigger and I base my assumptions of my avatar off of past experiences of meeting people and of me. So, there really is no surprise that I almost mimic my customer avatar.   

Assignment 17: Elevator Pitch No.2

The Pitch

Description of the feedback from last pitch

What stood out to me as the most important part of my pitch that I needed to work on was the hook in the beginning. If I'm not able to hook my audience from the start, I won't be able to get my idea across as effectively. The feedback that surprised me the most was a comment about my flow through my ideas. The feedback that I received that was not wrong but outright silly I guess was the comment about my product being 5 stars on Yelp. I think the feedback that I found to be most useful and insightful was the comment about appearing more natural. I do feel like my pitch is a little cut and dry, but I feel like it's from doing this in the morning where I haven't reached my point of energy yet.

What did I change?

The things that I changed in this pitch was trying a new hook in the beginning. I don't know how effective it really is because I kinda just thought of it on the spot. Didn't really plan what I was going to say for the hook. It was between this one and a Taco Bell chalupa box hook. I kept the script the same but tried to be more natural. I feel like I was a little more natural in this pitch; however, I do think that I can do better.

Assignment 16: What's Your Secret Sauce?

Describe five ways in which you have human capital that is truly unique

1. I normally analyze a situation before making any necessary actions. That way I can make a careful and a well thought out representation of my audience.
2. I take into consideration how others feel and try to form my actions accordingly.
3. I'm very knowledgeable when it comes to cooking and working out. For instance, I can name different exercises you can do to target specific areas of muscle.
4. I'm very personable once I come out of my shell and open up to people. 
5. I try to make light of any bad situation. I want to make something positive out of something negative.
6. Good leader and goes all in when passionate about something (Bulk Bites)

Interview 1: Mom

Mom's Interview

For my first interview I interviewed my mom. She made comments talking about how I'm able to adapt to situations and that I can be analytical in different situations. She also pointed out that I am laid back and calm in the midst of problems.

Interview 2: Dad

Dad's Interview

Some things that my dad highlighted was that I was an fast learner and that I adapt well. He also noted that I'm an easy going person and that I always work hard.

Interview 3: Sister

Sister's Interview

For my sister, she noted that I was very personable and that I take other people's consideration and not just my own. She also pointed out that I try to make light of bad situations.

Interview 4: Philip

Philip's Interview

Philip pointed out that I'll assess a situation before I act upon it. He also noted that I was shy at first and that once you get to know me that I tend to come out of my shell.

Interview 5: Jake

Jake's Interview

Jake pointed out that I was a great leader and that I am extremely hard working. He also noted that if I'm passionate about something that I'll go all in for it.

Reflection

Going through the interviews, I didn't find really any differences but rather more stuff to add to the list I made in part 1. One of the new thin gs that came up came from my friend Jake who pointed out that if I was passionate about something that I would go all in instead of giving less than 100%. He also pointed out that I was a great leader which I don't think any of the other interviewers pointed out. The others sort of reinforced the things I wrote about myself in part 1, such as being shy in the beginning, being analytical when it came to acting upon a situation, and taking other people's feelings into consideration when acting upon a situation. I think what causes these differences is that they are more noticeable about my actions than I am to myself. When thinking about it, I do feel like my interviewees are correct on what they said about me. Like I said in the beginning, I may go back and add some stuff but not necessarily change anything I did in part 1. 

 

Assignment 15: Figuring out Buyer Behavior No.2

Interview 1 Summary: Philip

From the information given by Philip, it seemed that Philip wanted a lower priced item when it came to purchasing snacks. Although quality is a big part in his eyes, it wasn't as big as the price. Philip didn't really care about the style of the snack. The style seemed to be the last thing he was worried about. Philip would purchase snacks in store only just because he felt that it was easier and faster than paying online and waiting for them to be delivered. He would also use cash rather than card. Philip would evaluate the purchase by the taste and effectiveness of the product He wants it to taste good and also hold him off until his next big meal.

Interview 2 Summary: Steven

Steven seemed to worry more about the quality of the snacks than anything else. Price and style were least likely to affect his purchase decision for snacks. As for how Steven purchases his healthy snacks, Steven would do something similar to Philip by buying from the grocery store but would do the store pick up. He usually already knows what products he wants from past experiences. For Steven, he wants a product that satisfies his hunger for in between his meals. He doesn't want a snack that holds him off for like 20 minutes before he's hungry again.

Interview 3 Summary: Britt

Britt focused more on the style when choosing the right snack. He would prefer a regular bar than say a protein shake. Britt also cared about the price and quality as well when choosing his snacks. He would often do a little background search of some of the popular brands to choose from. Britt likes to see the snacks in person before he buys, so he would go to either Publix or the Vitamin Shoppe to purchase his snacks. He normally pays cash, but if he doesn't have cash he pays with card. Like Philip and Steven, Britt found that the purchase was a success if he didn't feel hungry after eating the snack in between his meals. If the product failed to cure his hunger, he would deem the product as a failed purchase.

 Conclusion

It seemed that Philip, Steven, and Britt didn't just prefer one aspect of the snack. All of them incorporated price, quality and style within their purchase of the right healthy snack. Same goes with their preferred choice on where to buy the snacks. All of the people interviewed purchased from their local grocery store or health shop to purchase their snacks, as well as using the same form of payment. All of their post-evaluations lined up with each other holding how well the snack battled their problem with hunger in between their meals.

Assignment 14: Halfway Reflection

1) Tenaciousness is a competency.

The behaviors that I use to keep up with the requirements of this course is just reminding myself that this is only for 16 weeks and that I need to just take it week by week. I've also noticed that I would schedule time to brainstorm ideas for how to tackle upcoming assignments. 

2) Tenaciousness is an attitude.

I've honestly never felt like giving up in this course. The only thing that sort of gets to me is the willpower or drive to complete the assignments. What sort of pulled me through many of the times I thought about not submitting an assignment was thinking back about my grandpa who would say to always finish a job that you've started. So, I started this class and I plan on finishing it. I don't feel like I acquired a strong tenacious yet in this course; however, in the future, I can see it developing into something. One of the experiences that kind of contributed to this was the elevator pitch because I really don't like recording myself and listening to my recorded voice, but I had to do it anyways.

3) Three Tips

1. Plan ahead and get things done ahead of time (ie. work ahead)
2. Ask yourself why you wrote something down and make sure to answer the requirements fully.
3. Find a driving force that is always reliable to keep you going through the course. 

  

Assignment 13: Reading Reflection No.1

Book Chosen: Shoe Dog by Phil Knight

1) What I was most surprised about reading Shoe Dog by Phil Knight was the attention to detail from the start of the venture to now. I was expecting the book to only include business moves and such as an overall, but instead the book included year by year analysis of important events that happened in his life. Events including not only his business but his past relationships and family ties.

The biggest thing that I admire about the Phil Knight is his passion for creating the best shoes on the market and the support of his family behind him after knowing what he can do with his business idea. Knight wouldn't stop at anything to keep his vision alive. In the beginning of the book, Knight was promised I believe 13 states in the west to sell his Americanized shoe being exported from Japan. However, another seller being supplied by the same company who agreed for Knight to have the these western states created unnecessary competition in the areas he was selling. What did Knight do? Knight took a trip back to Japan to get this all worked out. Plus, after seeing the venture unfold for creating the best shoe on the market, Knights family started to support him more and more.

What I least admire about Phil Knight was a specific instance in his life when he first started his company. When Knight first pitched his idea he recalled thinking that if he didn't get the deal, he would've been a disappointment to his family and friends back at home. I feel like having this mindset before trying to get a business deal may be effective; however, I also feel that putting that much pressure on yourself can be detrimental. The added stress could ultimately make you slip up your words and cost you the deal.

Phil Knight encountered a lot of bumps in the round including things regarding his company and his relationship. One of the bumps in the road was the instance that I highlighted earlier for when he was sorting out the whole self competition competition that the supplying company was creating. Another, was the thought of love he had for this girl in year 1964 named Sarah. Although this could've been a bad outcome for Knight, losing a possible chance at true love, Knight took something from the whole situation, being a rebel. Even though Knight had this loss, Knight continued forth with his business venture as if nothing happened. How? With the support of his sisters.

2) The competencies that Phil Knight exhibited were both legal and effectiveness that he created through connections. Knight had a previous connection with his cousin who was part of a law firm who helped Knight win the case that would allow him to sell in the western states that he highlighted or was promised. Another instance was having a connection to his old track coach Bill Bowerman. Bowerman was the driving force behind developing the design of the she to make it lighter and more fitting to the US consumer base. Back in college, Bowerman would take apart and alter his runner's shoes and experiment with them during track meets.

3) One of the parts of the reading that confused me was when Knight's bank told him that he was in trouble for having a prediction of 100% growth in his company. Like Knight at the time, I thought having a high growth prediction would be a great thing to have which is why it confused me.

4) What was the hardest obstacle that made you stop and think whether you'd be better off not doing what you're doing? I would ask this question because he had many problem in his book that I would deem very tough to handle. I want to know which was the one that almost took him over the edge.

What would be some tips on getting past that shyness that you mentioned that came with age?
The reason I would ask this question is because I feel I follow in a similar path where I was very outgoing in the earlier years but grew more shy as I became holder.

5) I think the author's opinion of hard work is pushing through your problems to get to your goals no matter how difficult they may be. I feel that I share the same opinion. 

Assignment 12: Figuring out Buyer Behavior No.1

Picking a Segment

The segment that I am choosing is going to be the gym goers between the ages of 17-30 years old. I find that this is around the age where people who really go to the gym are trying to get bigger and focus on getting as much calories in their diet as possible. Therefore, my product would be a perfect fit for this segment.

What I learned from the Interviews

1. Interview with Joe: Joe expected the need every day and throughout the day. Joe, however, does not experience the need over the weekend because he doesn't have classes or much to do on the weekends so he eats frequently. He only seemed to need a snack in between meals because that's when he felt most hungry. Joe experiences the need while going to college because when he's home, his family usually has the house stocked with snacks. Joe would normally go to the store to purchase snacks rather than search on the internet or make them himself.
2. Interview with Oliver: Oliver expected his need only on the week days where he has to go to his job. Oliver described that he would start to feel hungry because he wouldn't eat a lot during breakfast or lunch, causing him to need some sort of snack to eat. Oliver normally experiences the need to eat snacks during work hours where he is unable to make a healthy snack for himself. When he experiences the need, Oliver normally gets something from the vending machine that's at work because its easy and quickly accessible. 
3. Interview with Drew: Drew, just like the others interviewed, said that he normally experiences the need during work because he doesn't have time to leave work and come back. Drew often needs a snack in between his meals because he normally eats a little during breakfast, lunch, and dinner. He also says that he needs some kind of fuel for when he's done boxing. Drew experiences the need for a snack sometimes between meals at work but mostly at home after he's done boxing. Drew would often go out and purchase his healthy snacks at the local grocery store; however, he was the first customer I sold my product to and really liked them.  

Conclusion on Segment

What I can draw about the segment that I've interviewed is that they primarily experience the need for a healthy snack over week days because they don't have the time to make their own to take with them to either work or campus. The average gym goer needs the snacks in between meals because they don't a lot during breakfast, lunch, and dinner. They also need some kind of healthy snack to fuel the muscle fibers that they strained while working out. I would say that this segment experiences the need while at their jobs or classes. The first thing that this segment does to satisfy their hunger is to either locate a vending machine, have a pre-bought snack from the grocery store, or make up for it on their next major meal. 

Assignment 11: Idea Napkin No.1

You...

I am Austin Abramczyk and I am from Boynton Beach, Florida. My talents include being able to persuade others and being able to budget money effectively. I have background in the fitness industry working for a vendor who sells supplements through Amazon. My aspirations are to become a future firefighter in Fort Lauderdale after I finish my four years at the University of Florida. I see this business as being a part time thing in my life because the product is very labor intensive and everything is made by hand.

What are you offering to customers?...

I am offering a product that saves those who make their own snacks time and effort by creating a healthy, homemade snack that fulfills the necessary nutrients an individual needs throughout the day. My product ultimately allows the customer to not have to worry about making their own snacks, or pay for snacks at the store. The product has natural ingredients that allows the customer to be comfortable with what they are eating.

Who are you offering it to?...

Currently, the demographic is the population in Boynton Beach in the age ranges of 15-50 years old. The main individuals that the product is being made for is the everyday gym goer, health nuts, and those with outdoor jobs.

Why do they care?...

Customers will pay for my product because it'll save them time and effort of making their own snacks. A big problem that people face in their day-to-day lives is finding the time to fit extra variable within their schedules. People are too focused on their jobs, working out, making dinner at night, and caring for their children. People just don't have the time to make their own healthy snacks. Also, people don't want to go through the hassle of buying the supplies just to have it sit in their cabinet for ages because they don't have the time to utilize the ingredients to make the healthy, homemade snacks that they find online.

What are your core competencies?...

What sets me apart from everyone else is that people do make these snacks, but nobody has made them to sell. Instead of giving people the recipe to make the snacks, I'm allowing people to pay for me to make the snacks on my own time that way they don't have to waste their time. The thing that I have that nobody else has is time on my hands. I am currently a student and I am only busy for maybe a quarter of the day, leaving the rest of the day for free time.

Evaluation...

I believe that everything ties together in the five elements that I listed. However, the only thing that doesn't really fit is the location that I chose to sell the product. I'm trying to market my product in my hometown of Boynton Beach, but I'm in Gainesville for a majority of my schooling. What's good about my five elements is that my experiences in the fitness industry allows me to connect with the gym goers and health nuts described in my ideal customer demographic. Knowing a lot of people who work out, I know that people who go to the gym don't necessarily have time to make healthy snacks at home. Therefore, this product is perfect for these individuals. Plus, knowing that people normally just share recipes instead of selling them, I won't have very much competition. The only real thing that I need to worry about is the amount of orders I receive at once because of them being made by hand and calculating a reasonable price that benefits both me and the price sensitive customers. 

Assignment 10: Elevator Pitch No.1

Elevator Pitch

Same Video but from Youtube:

Assignment 9: Testing the Hypothesis Part 2

Testing the Hypothesis Part 2

Who: The following are conclusions based on the interviews I conducted with five new individuals who essentially have the need but are already supplementing it with another form:

• Interview 1: I found that some people don't need snacks to supplement calorie deficiency because they would make up for it by eating a heavy amount of calories during breakfast, lunch, and dinner. 
• Interview 2: I found that some people would do a calorie deficit because they wanted to lose weight. They assumed that by burning more calories than they're consuming effectively helps them lose weight.
• Interview 3: In my third interview, I found that people do need that extra snack in between meals to ensure that people get their needed calories; however, instead of snacks they would replace them with protein shakes. I found these individuals to be outside the boundaries of my market.
• Interview 4: In interview four, I found a new market, mothers. Mothers usually supply their kids with protein or granola bars for when they go to school. My product would be a perfect supplement to replace the store bought granola bars and protein bars. 
• Interview 5: I received the same new information that I got from interview one.  

What: The what of my opportunity is not to supply an in-store, mass marketed snack, but to supply those who want a homemade solution to making their own snacks.

Why: I want to supply this product to save people from the time and hassle of making healthy snacks at home.

Inside the Boundary	Outside the Boundary
Who is in: Gym Goers, Outside Workers, “Health nuts”, and Mothers	Who is out: Those without calories deficits, those who eat 3 large meals a day, those trying to have calorie deficit, those with peanut allergies.
What the need is: An alternative to making your own healthy, homemade snacks	What the need is not: A snack that’ll solve your weight problems being coined as “healthy”.
Why the need exists: For people who don’t want to go through the hassle and time to make their own form of healthy snacks.	Alternative explanations: A healthy snack to eat between meals.

  

Assignment 8: Solving the Problem

Solving the Problem

Before this class, I've always had a passion for the fitness industry. So much passion that my first job was working for my buddy's supplement company. Through that job, I have learned much about supplements, personal health, and ways to ensure that I'm getting the right mix of foods in my diet. However, the main problem I would have through many years was that I was having trouble getting the necessary calories to fuel the progress of gains I wanted to achieve as a result of going to the gym. I've tried to search the internet for different recipes for homemade snacks but found nothing that intrigued me. Plus, how was I sure I was going to enjoy the recipe that may have intrigued me? That's when it hit me. I remembered a time back when I first started bootcamp, maybe 6 years ago, this lady would bring these little balls of peanut butter and other things that I couldn't remember and tasted amazing. Using that experience as inspiration, I decided to experiment with different ingredients and came up with a product I like to call "Bulk Bites." I made them with natural ingredients of only oats, peanut butter, honey, protein powder, and raisins. Excited with what I made, I had other people try them. Everyone loved them and told me I should try and sell them. So here I am. I found an opportunity where people had the same problem as me. People were lifting and lifting, but haven't had something to supply to those gains to keep them. They would buy protein shakes, protein bars, and "health" bars, but that would cost too much money. On average, the price for a good protein bar might be 2-3 dollars per bar. However, I would be able to sell Bulk Bites for around a dollar a Bite for around the same benefit. Additionally, people don't want to go through the hassle and take the time to make healthy snacks to eat throughout the day. That's where I come in. I would sacrifice my time to make these Bulk Bites by the batch and sell them by the batch. This saves both me and the customer time, and allows the customer to have about a week and a half supply worth of Bulk Bites. Furthermore, these don't just have to be for people who work out, but they can also be for people who need a quick, healthy snack that they can just pop into their mouth and be good for about 2 hours. So far, I've sold 3 batches and double my money every two batches. Hoping for that five stars on Yelp.  

Assignment 7: Testing the Hypothesis, Part 1

(1) Opportunity
Gym goers in the US are unable to consume the needed calories on a day-to-day basis to fuel their gains because they don't have the time and effort to make themselves a healthy, homemade snack to consume throughout the day. 

(2) Who, What, Why
The Who: Gym goers in the US
The What: They are unable to consume the needed calories on a day-to-day basis to fuel their gains
The Why: They don't have the time and effort to make themselves a healthy, homemade snack to consume throughout the day.

(3) Hypothesis
Testing the Who: Not only do gym goers have the need, but also college students, auto collision workers, 9-5 workers, athletes, and kids.

Testing the What: The boundaries of the need include the people who consume the product. Consumers may have different allergies that may prevent them from consuming some snacks. Another boundary may be for athletes where they are usually sticking to a specific diet.

Testing the Why: I believe that most of the people I identified in my who have the "why" where they don't have the time and/or effort to make themselves a healthy, homemade snack to ensure that they supply their body with the needed calories on a day-to-day basis. The only exception may be for college students who just may not have the effort, while other college students may just not have enough time in the day.

(4) Interviews
Interview 1: Jake
Who do you think has the problem with calorie deficiency?
I think that a lot of people aren't getting the amount of calories needed throughout the day. People that I find to be having this problem would have to be gym goers. They don't seem to be getting the necessary calories to feed their progress.
What do you think is stopping people from making healthy snacks?
I don't think some people have the time to be making their own snacks in the morning because of their schedule. Me, as a college student, don't have the time in the mornings or throughout the day because I am busy with going to classes, studying, and going to the gym.
Why do you think people have the problem with making healthy homemade snacks?
Like I said in the previous question, I just don't have the time to be making my own snacks. I would much rather buy my own snacks from stores who have protein bars and such. If I had time to make my own snacks, I would but I currently just don't have the time to do so.

Interview 2: Geo
Who do you think has the problem with calorie deficiency?
By far people who go to the gym and athletes. They need these calories to fuel the gains.
What do you think is stopping people from getting the necessary calories?
I think whats stopping people from getting the necessary calories is that people don't like what is on the market right now so want to make their own snacks that they can consume throughout the day. Plus, the protein bars that are in stores are expensive to keep buying because of the cost for each singular bar. Also, you don't know what you're actually putting into your body when you consume them. I much rather would make my own if I had the time.
Why do you think people have the problem with making healthy homemade snacks?
I think that the main reason people have the problem with making their own snacks is that they don't really have the time. For me, I just don't have the time. I have a 9-5 job that I can't really find time to go through the hassle of making my own healthy snacks.

Interview 3: Carol
Who do you think has the problem with calorie deficiency?
I don't really have a calorie deficiency by accident but rather on purpose because I want my body to burn more calories than I'm consuming to lose weight. However, I think that some other people that may have the problem would be office workers.
What do you think is stopping people from getting the necessary calories?
People would much rather buy their granola bars and such at grocery stores. For me, I normally purchase Fiber One bars at Target because they taste good and they get the job done. But I do think it's hard for some others because they have allergies where they may be allergic to peanuts and such. This limits the selection of snacks that they can buy and consume from the grocery store.
Why do you think people have the problem with making healthy homemade snacks?
I think what's stopping people from making homemade snacks is that they may not know how to make them. There's definitely a bunch of recipes online but, I don't think that people want to go through the hassle of making it themselves. Plus, for most people the first batch doesn't normally come out good so they just end up giving up on making them.

Interview 4: Beau
Who do you think has the problem with calorie deficiency?
I think people who work outside jobs are the most calorie deficient because they burn more than they're able to consume. In Florida, the heat is terrible because of the humidity and the direct sunlight. Not even the shade can really save you. But I work in collision so I'm always outside.
What do you think is stopping people from getting the necessary calories?
I think people just make a shake or get healthy snacks from the grocery store. My go to is usually a 2000 calorie health shake that I make in the morning to help ensure that I'm getting sufficient calories every day. But these shakes aren't always the greatest things because they have a very thick consistency and they don't always taste good.
Why do you think people have the problem with making healthy homemade snacks?
I think people are lazy and they don't want to go through the hassle of making their own stuff. After working all day in the sun, its hard for me to muster up the energy to even work out at the end of the day. Plus, my job as an auto collision worker, I have to be at my job at 8:00 to work. 

Interview 5: Mike
Who do you think has the problem with calorie deficiency?
I think that people who work outside are the most deficient on calories. The sun drains the energy from their bodies and causes them to sweat. But I can see people in the gym who want to get bigger to have the same problem as well because you usually want something that you can easily pop in your mouth after a workout to make sure your body is getting the necessary carbs.
What do you think is stopping people from getting the necessary calories?
I think what's stopping people from getting the necessary calories is the way people function. Some people are just used to going just three meals a day where they aren't hungry in between meals. Snacks really aren't an issue for them so they can survive without it.
Why do you think people have the problem with making healthy homemade snacks?
I don't think people want to go through the effort of making homemade snacks, and they don't want to go through buying the needed supplies to do a recipe they found online that they'll use only once.

(5) Summary of Interviews
Overall, I believe that I was nearly spot on on what the opportunity called for. I knew that people who were in college, 9-5 workers, and auto collision workers had calorie deficiency; however, many brought up external workers which encompasses more than just auto collision workers. I learned that some people made shakes in place of snacks to ease their hunger and get their calorie number up. Mostly the ones I talked to who went to the gym claimed to be taking protein shakes rather than the grocery store bought snacks while those who didn't always go to the gym bought mostly protein bars and health bars. I found out that people do try and make their own, but they normally do it maybe once or twice before they give up doing it.

Assignment 6: Identifying Opportunities in Economic and Regulatory Trends

Economic Trends

Solar and Wind Power Too Cheap for Subsidies

https://www.bloomberg.com/news/features/2019-09-19/solar-and-wind-power-so-cheap-they-re-outgrowing-subsidies

(a)  In a growing society that puts an importance on renewable energy, I thought that there might be some kind of changes in the renewable energy industry.

(b)  What leads me to believe that there is an opportunity is that the decreasing prices of solar and wind make it easier to sell to consumers. Plus, the decreasing value and the "green" value will be highly attractive to those who both care about the environment without breaking the bank. Because of the drop in prices of solar and wind, the government won't have to put aside money to start-up new plants. This price drop makes it cheaper to get into business selling solar and wind power to consumers.

(c)  I believe the prototypical customer to the opportunity might be home owners, small business owners, large corporations.

(d)  The opportunity would be hard to exploit because the price may influence customers to just purchase their own rig of solar panels.

Why did you see the opportunity?

I've always been a fan of renewable energy. The old house I used to live in had solar panels on the roof that would supply power to some of the house. I remember them being very expensive so, when I saw that they were decreasing in pricing I thought that there might be an opportunity in the making.

Oil Prices on the Rise as a Result of Iran's War Warning

 https://www.bloomberg.com/news/articles/2019-09-20/oil-s-rising-again-as-iran-s-warning-of-war-ratchets-up-tensions?srnd=premium

(a) The last time I received gas for my car, I noticed that the gas prices were starting to rise. So, I thought that maybe it was just that time of the year so I just looked up why they might be rising because I've never known the reason.

(b) What lead me to believe that there was an opportunity is that gas is necessary for just about a majority of those in the area. People need gas for cars, scooters, buses, and motorcycles. 

(c)  The prototypical customer for this opportunity would be car owners, motorcyclists, bus company owners, and college students.

(d)  The opportunity would be difficult to exploit because the rising prices of oil will in turn raise the cost of acquiring the supplies to convert to gas. Also, if customers had incite on the rising prices of gas, customers would buy now and not when the prices were raised. It would almost be like people buying gas before hurricanes. 

Why did you see the opportunity?

I thought of the opportunity because I know that a majority of people in the US need gas on a daily bases. Therefore, we will have a lot of customers regardless of how high the prices may be. 

Regulatory Trends 

FDA moves to regulate CBD oil to protect Big Pharma's Profits

https://fda.news/2019-08-09-fda-moves-to-regulate-cbd-oil-to-protect-big-pharmas-profits.html

(a) I'm interested in the marijuana industry and found this article thinking that there might be an opportunity. Usually, marijuana likes to stir up some controversy so, I thought that there might be something to salvage from its popularity. 

(b) What leads me to believe that there is an opportunity is that the popularity for CBD oil is increasing which means that the product of CBD may be easier to sell to consumers. Plus, the marijuana industry is starting to boom.

(c) The prototypical consumers for CBD oil would be college students, old people, people with tourettes, and people who suffer from depression.

(d) The opportunity may be hard to come by legally unless I go to a place where marijuana is available recreational. 

Why did you see the opportunity?

I have an older brother who has a lot of anger issues so he uses marijuana to cool himself down a notch. So the CBD oil helps him achieve a calmer state of mind. I saw an opportunity because many people actually need the effects of CBD to help medicate different diseases or disabilities that they have.

US and Canada reach last-minute deal to replace NAFTA with new trade agreement 

https://www.independent.co.uk/news/world/americas/nafta-us-canada-trade-deal-trump-trudeau-mexico-usmca-a8562531.html

(a) The source that lead me to form a belief for an opportunity was the upcoming new deal that Donald Trump was trying to resurrect a new NAFTA in place of the old one.

(b) The diary market that Canada houses is highly desirable to the farmers in the US. Plus, officials say that this new agreement will create new jobs and new opportunities for those who live in North America.

(c) The customer with the opportunity would be the farmers in the US who get highly prized dairy from Canada as well as North American citizens who will be able to acquire good, well-paying jobs.

(d) I think the opportunity is relatively difficult because the jobs aren't specified and the dairy business would be a lot of money to try and start up.

Why did you see the opportunity?

I think what helped me find an opportunity as a result of this deal was that I really need a job and this deal promising extra job is not only beneficial to me, but also those who are currently unemployed.