What's Your Secret Sauce?

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

When it comes to human capital, there are quite a few things that make me unique. First and foremost, I take pride in my Nicaraguan roots (my mother is a native), and visit there pretty often. These trips lead me into some of my passions: surfing, snowboarding, and skating. I've always been a fan of the extreme, as my father has since he was in high school, and they have led me to a variety of different experiences. I've been to California, Colorado, North Carolina, Nicaragua, Ecuador, The Galapagos Islands, the Dominican Republic, Puerto Rico, and a variety of other locations in pursuit of those passions. These experiences have allowed me to interact with and understand a variety of cultures, and make me an overall more well-rounded individual. I am musically obsessed as well, spending my free-time juggling records and playing guitar with friends in makeshift bands that allow me to work well in creative environments, loud environments, and collaborative environments.

When I was about 15 and a half, I began the long and extensive, both physically and mentally, to become a Volusia County lifeguard (that's right, if you visited Daytona Beach for spring break I was probably working). It was a multiple month long process, but it has shaped me in so many ways, I couldn't begin to list them all. I've saved people firsthand from drowning, preformed medical assistance on victims such as those stung by stingrays, and carried out a variety of other tasks at my office, the beach, that have shaped my adult character.

2. Interview the five people who know you best.

Each interviewee answered the question, What makes me different?

One: You are the most creative guy I know! You can draw, play guitar, surf, skate, I don't know I just think there's a lot of creativity going on in there that stands you apart from other people I Know.

Two: You're not as judgmental and annoying as other guys; I'd rather go get a coffee and talk about my problems with you than most other boys because I feel like you're more understanding and nice then most of them.

Three: You always find a way to get it done. Sure, maybe you procrastinate some stuff but everything is always done right and on time and I'm impressed on the way you always manage to do just that, impress.

Four: You're relatable! We can talk about pretty much anything and there's never any awkwardness even though we only met last year. Even if we don't agree or can't share the same experience, you can find a way to respectably and engagingly keep the conversation going.

Five: You're way better at being able to juggle life and finances and schooling than I am, that's for sure. I know you have to work hard each summer and don't get the same kind of  money from your parents that I get, and I bet it's gonna ensure a better chance at success in the future.

All of these interviews led me to realize that I mostly got the majority of my things, but people are much more fond of my personality (charisma, work ethic, etc.) then I previously thought. I think these are important entrepreneurial skills, and I'm glad to see people talking about them.

3. Reflect on the differences.

While a lot of the ways I view myself and others do tend to match up, there were some things that I just wasn't aware of. For example, I've had a county job since I was 15 (I know, I was supposed to be older) and money was always an interest and almost priority to me. Since I don’t live in other's brains, I wasn't aware of this lack of recognition of the importance of finances that I had and others lacked. I'm grateful for those experiences that shaped me to this day.

I don't think there are many corrections I need to make to my list, except to maybe add some specific personality traits of myself. This is another thing I personally find better heard from peers, but it is something I could add.

Figuring Out Buyer Behaviour No. 2

1. Find three people who would fit that segment and arrange to interview them.

For my assignment, I conducted my three interviews at a sporting event this past weekend; I'm a team captain on the UF Surf Team, and I got three interviewees at our contest this past weekend.

2. Begin with alternative evaluation.

There is only one alternative to my product: ice. This is a MAJOR problem in my business model, because companies and people may just be more interested in using free ice rather than my product. I think price is the only factor here, because otherwise, my alternative would be more beneficial than using ice cubes.

3. How/Where do the buy?

I think, in respect to customers, that this product would likely be a cash purchase at a grocery store, or something that is offered at a restaurant.

4. Post-Purchase Evaluation

This purchase is a mostly environmental choice, in my opinion. While I'm sure there are people who will like the product solely because their favorite beer or soda will taste cold but not watered down, I think the environmental benefits of saving freshwater is going to be the biggest factor that made this the "right" purchase.

5. Report the Findings

All three of my interviews were very similar to the ones I've conducted before; it has already been made aware to me that most people don't realize the necessity of this product until they hear of it from me. These interviews solidified this point.

I also learned that the interviewees would rather not buy these strips on their own from grocery stores, or rather they were 50/50 on whether or not they would buy them or not. However, they were all open to the idea of using these strips in a restaurant setting. That being said, these interviewees would not consider themselves "active environmentalists" by any means.

6. Draw Conclusions

I think this product would do well if there was some major advertisement, maybe focused on targeting the new adults immerging in social media. The idea is conceptually good, and delivering it to the brains of those on their phones could be a good way to get the idea out to the public. I just think that this is unventured territory, but that doesn't meant that there is no way to profit from the idea.

Halfway Reaction

1. Tenaciousness is a competency.

In order to keep up with this course, I've had to do quite a few things; however, I feel as if the most important of these challenges were time management and forcing myself to think deeper about the everyday world to try and synthesize a product from the world's "bug list". It was difficult to try and make connections at first, but the course allowed me to do this very well. As for time management, the course demands a bit of work, and it has emphasized allowing the student to work to their liking and set up their own schedule.

2. Tenaciousness is attitude.

Honestly, I did give up. I changed my idea halfway through the course, but that's okay! Part of being an entrepreneur is knowing how to deal with failures and how to come back even stronger. With this mindset and a new vision, I persisted; it is unarguable that this experience has contributed to my "maturing" in terms of entrepreneurial thinking, and it has definitely grown over the past 2 months.

3. Three Tips

My main tip to anyone taking this course next semester would be to make sure you schedule the content accordingly with your week; it isn't a difficult amount of coursework, but entrepreneurial thinking doesn't happen in one setting, it happens daily. Your mind won't always make the same connections as it might in fresh thinking. I'd also recommend people truly "go-in" so to say on the bug list at the beginning of the class, it will set you up for more potential success! And finally, people just need to be open to failure or criticism from others in the blog, the road of success requires some tinkering.

Reading Reflection - To Be Loved, Berry Gordy

1. As a music fanatic, the story of Berry Gordy was just mind blowing to me; it was crazy to me to see the literal entrepreneurial process in such textbook format. One of his first ventures, 3D Record Mart, expressed his interests in a company, but it wasn't profitable. Him continuing to the extreme music success he now has was truly admirable. There really wasn't much I didn't admire.
2. Berry Gordy's competencies included his talent in music and his drive and persistence that allowed him to capitalize on this ear for music.
3. I was a little bit confused by some of the music side of the reading, but it was otherwise straight forward.
4. "I'm an aspiring musician, how do you think I should capitalize on my talent like you did?"

            " Who was your favorite musician to work with?"

5. I think Gordy thought it was likely hard work at the beginning of the entrepreneurial process, when funds are low and your drive needs to be at an all high to make it. I share this opinion whole-heartedly.

Figuring Out Buyer Behaviour

I conducted three interviews amongst everyday members of society.

Need Awareness

Two of my three interviewed guests did not realize there was a need for the product until I started to explain the advantages of minimizing ice use. One of my interviewed guests, on the other hand, immediately thought of how ice waters down his wine and that this would be a great way to fix this issue. It seems to be that the people saw this need as more of a restaurant need, but were open to the idea of buying the product for their home.

Information Search

This problem is currently being solved by the use of ice cubes. This seems to be a decent solution until the drawbacks are explained, and the advantages of my product are better described.

Findings and Conclusions

It seems to be that most people do not realize that this need is unmet until they really start thinking about the idea and the advantages of my product. While it does seem that most people just use ice cubes, they were excited by my concept and immediately recognized the advantages to the product. I don't think the majority of the market is aware of the unmet need, so my company will have to convey the right message in order to be successful. I do not think this lack of awareness is a major issue, and I could still make profit.

Idea Napkin 1

1. Me

My name is Francis Gilday, and I'm an avid surfer and skateboarder from New Smyrna Beach, FL. I am talented in not only these domains, but much more creative outlets, such as music (guitar) and painting. I love to travel, and I've been to places including the Galapagos Islands and a variety of Central American countries.

My current business concept is to develop and distribute a substance, similar to that of a mint strip, that makes what you are drinking taste cold; I think it could consume my financial prosperity adventures if I were to carry out the idea. Not only would I be making money, but I'd be assisting the planet by allowing more fresh water (less wasted in iced drinks) to be utilized for consumption.

2. What am I offering to customers?

Have you ever chewed mint gum and quickly after taken a sip of water? It tastes weird, doesn’t it? It's almost like the water tastes cold, but still lingers with an odd accompanying mint flavor. My product would serve as a similar effect, a strip that you put on your tongue before drinking, that would make room temperature drinks taste cold. However, the strip would be tasteless and not have any other effect on the beverage.

3. Who am I offering it to?

These strips could be sold directly to consumers at grocery stores, but I feel like the largest market could be the restaurant industry. They could supply these strips at the table, where customers could use them to their preference.

4. Why do they care?

People have been fans of cold drinks for years, and this product could revolutionize the market. People can now enjoy their favorite cold soda without experiencing the side effects of melted ice watering away the taste of a sip. Environmentalists could also jump on the wagon, seeing as this frozen and often wasted water that is used in ice can now be distributed to other people who need it.

5. What are my core competencies?

This product is not currently offered, to my knowledge. The closest thing would be mint breath strips, but they contribute flavors that would alter the drinks taste.

I personally feel that these elements of the concept all fit well together, and that the business could be very strong if carried out. The only difficulties I can see would be the research required to create such a product.

Testing the Hypothesis Part 2

A lot of opportunities are overhyped, but here are some reasonings behind by opportunity, the method to my madness!

Who: There is a large portion of people that aren't going to be affected by natural disasters, and these people would fall out of my boundary

What: Disaster relief varies from other services and products because at the end of the day, it's borderline essential. When a disaster hits, someone is going to have damage necessary of fixing. And there are going to be people who would rather invest money in products that would limit this damage.

Why: Outsiders who won't need the products or services live outside an actual geographical barrier that makes natural disaster far less likely where they live. For this reason, they won't invest in the product.

Interviews:

1. Disaster Relief Company CEO

Q: Have you seen an increase in natural disaster?

A: Oh, of course. Literally within the last few years, since hurricane Michael, I've had a busy work season each fall.

Q: Do you think this is a very location dependent job?

A: Well I would have said that a while ago, but look at the polar vortex; I guarantee some people are gonna have some damages in need of fixin'.

Q: Do you think the market is oversaturated with companies?

A: My office is located in Dayton Beach, but I'm getting calls to do work over in the panhandle left and right. I don't know if that answers your question, but I think if there were more companies, they wouldn't be calling me.

2. Financial Advisor

Q: Have you seen an increase in natural disaster?

A: I don't know if I would say yes? I'm not sure, but they definitely seem to be more intense.

Q: Have you noticed this impact on the stock market?

A: Yes. I can't really tell you about things I do but I've noticed company stocks increase and decrease with direct correlation to hurricanes or the fires.

Q: Do you think there's enough money to be made in starting a business in the disaster relief field?

A: Yes. I've witnessed the money to be made in the market firsthand.

3. Hurricane Survivor

Q: Have you ever experienced a hurricane firsthand?

A: Yes, I've witnessed a bunch throughout my stay her in New Smyrna but it's definitely amped up in the past few years.

Q: Have you ever experienced damage to your home?

A: Oh yes. I had to replace all of my windows with hurricane glass, I've had my roof on my previous home completely removed, it's been a hassle.

Q: If you care to share, would you be comfortable sharing how much you've paid disaster relief companies?

A: Sure thing sweetie, I've spent a good couple of thousand in the past few years alone, but I don't really remember entirely.

4. Restaurant Owner

Q: Have hurricanes ever directly affected your business?

A: Oh don't get me started. This was maybe 15 years ago or so, but once my power wasn't restored for days and all of my inventory became spoiled or rotten. I almost never got back up and running.

Q: Who do you think get affected worst by natural disasters?

A: Anyone in nature's path, obviously. Maybe business owners? I'm not sure how to answer that.

Q: Would you invest in equipment offered by disaster relief companies to help secure your business?

A: If I had the funds, certainly.

5. Meteorologist

Q: Have you noticed any different weather patterns?

A: Of course, it's kinda hard to deny climate change at this point. Our winter was warm, followed by some freezing days, then back to warmth. Much more extremely high tides, you know the drill.

Q: Do you think natural disaster's are going to be increasing in frequency?

A: I don't think, they already have. It's common sense, look at the facts.

Q: Why do you think a disaster relief company would be a good or bad idea to implement?

A: It's not a bad idea. But I don't know the facts, just make sure that the market isn't oversaturated.

Inside the Boundary	Outside the Boundary
Those living in accident prone areas	Those living in geographically "sound" areas
Assistance after or before disasters	Disaster assistance or precautions
Natural disasters are unpreventable	Some people may just not want to spend money

Elevator Pitch One

Here y'all go!

https://www.youtube.com/watch?v=hhleskRiZk4&authuser=0

Solving the Problem

My opportunity was that of the increase in natural disasters in places like the United States; whether it be Hurricanes Michael and Irma or the California forest fires, disasters cost people millions.

I think that the opportunity offers a mix of services and products, primarily a service, however. When disasters strike, people are eager to pay companies to fix their homes, yards, or other things. Product and service mixtures could include reinforcing roofs, installing hurricane windows, or installing drainage systems that limit water seepage into homes.

I am completely aware that this is not a new concept; however, neither are restaurants and bars, and those open frequently and are frequently successful. I just think that with the prominence of disaster occurrence, this could be a solid opportunity.

Testing the Hypothesis

The Opportunity: Increase in Natural Disasters

• The Who: Those who live in areas prone to natural disasters, for example: southern Florida and California.
• The What:
• The Why: With climate change being a very real phenomenon, natural disasters such as flooding, fires, and hurricanes are becoming more common. Consider the past few years (Hurricane Irma, Hurricane Michael, the current polar vortex, California fires).

Hypothesis: As climate change increases, natural disaster relief-related companies are going to be a good business opportunity.

Interviews:

1. Disaster Relief Company CEO

Q: Have you seen an increase in natural disaster?

A: Oh, of course. Literally within the last few years, since hurricane Michael, I've had a busy work season each fall.

Q: Do you think this is a very location dependent job?

A: Well I would have said that a while ago, but look at the polar vortex; I guarantee some people are gonna have some damages in need of fixin'.

Q: Do you think the market is oversaturated with companies?

A: My office is located in Dayton Beach, but I'm getting calls to do work over in the panhandle left and right. I don't know if that answers your question, but I think if there were more companies, they wouldn't be calling me.

2. Financial Advisor

Q: Have you seen an increase in natural disaster?

A: I don't know if I would say yes? I'm not sure, but they definitely seem to be more intense.

Q: Have you noticed this impact on the stock market?

A: Yes. I can't really tell you about things I do but I've noticed company stocks increase and decrease with direct correlation to hurricanes or the fires.

Q: Do you think there's enough money to be made in starting a business in the disaster relief field?

A: Yes. I've witnessed the money to be made in the market firsthand.

3. Hurricane Survivor

Q: Have you ever experienced a hurricane firsthand?

A: Yes, I've witnessed a bunch throughout my stay her in New Smyrna but it's definitely amped up in the past few years.

Q: Have you ever experienced damage to your home?

A: Oh yes. I had to replace all of my windows with hurricane glass, I've had my roof on my previous home completely removed, it's been a hassle.

Q: If you care to share, would you be comfortable sharing how much you've paid disaster relief companies?

A: Sure thing sweetie, I've spent a good couple of thousand in the past few years alone, but I don't really remember entirely.

4. Restaurant Owner

Q: Have hurricanes ever directly affected your business?

A: Oh don't get me started. This was maybe 15 years ago or so, but once my power wasn't restored for days and all of my inventory became spoiled or rotten. I almost never got back up and running.

Q: Who do you think get affected worst by natural disasters?

A: Anyone in nature's path, obviously. Maybe business owners? I'm not sure how to answer that.

Q: Would you invest in equipment offered by disaster relief companies to help secure your business?

A: If I had the funds, certainly.

5. Meteorologist

Q: Have you noticed any different weather patterns?

A: Of course, it's kinda hard to deny climate change at this point. Our winter was warm, followed by some freezing days, then back to warmth. Much more extremely high tides, you know the drill.

Q: Do you think natural disaster's are going to be increasing in frequency?

A: I don't think, they already have. It's common sense, look at the facts.

Q: Why do you think a disaster relief company would be a good or bad idea to implement?

A: It's not a bad idea. But I don't know the facts, just make sure that the market isn't oversaturated.

Write-Up:

I had a little bit of trouble focusing on one of my opportunities for this assignment; I decided that this prominent issue of natural disasters could be an interesting one to dedicate my focus to. Step two, however, was simple for me to synthesize.

When I decided to conduct some interviews, I decided to ask people in the field, whether that be company administration or hurricane survivors. These interviews helped me realize that the issue here isn't going to be the opportunity, because everyone can agree on the increase in natural disasters. The problem will be seeing if the market needs companies in the field or not.