Final Reflection

1) Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

This class has really put my entrepreneurship skills to the test. The first day in class I knew I would enjoy this course. Finally a course where we can actually work on one of our own tangible products. The first class we were split up in groups and sent out to interview others. I often dreaded having to interview strangers ,but in the end it was a great opportunity to truly test my business concept. 

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

I was especially proud after finding business owners in my field. I was able to network with business owners at the downtown organic Market. Meeting others and learning from their experiences was definitely my favorite experience. I will remember their faces and their enthusiasm for my idea. 

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

I feel like I have had the mindset for a while now. This course really reinforced my prior goals. I am an entrepreneur.  

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

They need to learn how to think outside of the box. I also would suggest taking a basic speech class before taking this course. Those with any stage fright might not perform well. 

Special thanks to everyone who has followed and interacted with my blog!

Cheers!

Venture Concept No. 2

Venture Concept 2

To explain my venture concept I will divide this report into three sections. The first section will pertain to the Opportunity that I am fulfilling. The Second Section will incorporate the elements of Innovation that run alongside my project. The Third section will map out how I plan to use my Venture Concept to take advantage of said Opportunity. This assignment gives the reader a good idea of how I plan on taking advantage of a market where an opportunity is present. The concept is slightly different from the last to compensate for market fluctuations if the euro is strengthened. 

The Opportunity that exists is a lack of sufficient alternatives. Most wine drinkers that are ages 21-30 tend to buy their wines at the supermarket. After interviewing many millennials on their wine habits I also have discovered that they usually don’t pay more than fifteen dollars for a bottle of wine. The shelves at the supermarket are stocked with Californian wine. It is hard to compete with Californian wines in the current market. There is too much competition. The opportunity is to introduce a French wine that can beat the California wine in price, environmental impact, and taste with less toxic chemicals. The Forces driving change in the Industry are increased pressure on companies like Monsanto that control the Food and Beverage industries. Reports are showing that many of the pesticides used on Californian wines are leaving residual toxins in the end product. The wine industry has fed the demand for cheap wine by increasing yield and production at the cost of our health. I feel that as more reports come in we will have a movement towards what I like to call “BIO” wines. Bio is the word used in Europe to describe Organic “Biologically” friendly products. Another Opportunity that exists is a weakening Euro. The weakening Euro is friendly to European exportation. I will be able to Import French wines that can compete with the low prices of Californian wines. One member of our classe asked what I would do if the Euro strengthens again. I would do what Europe did during the recession. I would switch my focus towards catering to Asian markets who have grown fond of wine. I would also consider exporting organic wines from the United States to Asian markets if our currencies gain strength. The Market is defined both demographically and geographically. Demographically I have to focus on lower cost wines because of the Demographics of Gainseville.  Geographically I am comparing California’s Nappa Valley to Frances’ Bordeaux, Burgundy, or Rhone Valley Regions. Geography is important in the wine industry because the land is the deciding factor to whether a wine will be good or not. It is a common practice to add minerals and other nutrients to soil before the grapes are grown. This practice is not necessary in many regions of France where the natural weather cycle of the year has been recycling nutrients to produce nutrient rich land for hundreds of years. I have also noticed in my interviews that the average American customer is not loyal to the current selection of wines they now have. Most simply by the wines because of the price and have fallen accustom to the often sub-par taste. When I mention French wines they feel that they are not sophisticated enough to appreciate or afford them. Little do they know that Europeans are drinking wine from the supermarket at 6 dollars a bottle. The Opportunity is huge but I want to focus city by city. Florida definitely has a drinking problem which is one of the reasons I would start here. The Vacation style living found in Florida is a perfect catalyst for a strong wine industry. The window of Opportunity is open until someone capitalizes on the current Market situation.

Innovation strategy is a key element in any business venture. I plan on providing an innovative product in an innovative way. My line of French wines have been using the same techniques for hundreds of years. My Venture is Innovative because I’m bringing products that have never seen the United States. Technology has definitely made the wine industry more efficient. Most Wineries now have sorting machines where they can place the grapes through to ensure that only the highest quality grapes are used for the end product. The Machine vibrates the grape bundles so that all the dirt and extra stems fall from the grapes. It also lets small malnourished grapes fall through giving the wine a more uniform/consistent taste. Hybrid vines are also being used to combat pest issues and weed issues. The new hybrid vines are also more resistant to periods of drought. My company will make money by selling each bottle with a certain margin. The price I sell to stores and restaurants will be enough to pay for the taxes and fees that come with importation. I will use the majority of my sales to then secure more contracts and increase shipment sizes.

My Venture Concept is geared towards bringing in organic French wines to areas where European wine isn’t present. I will select different wines for cities with different Demographics. I will meet the demand that exists for exotic wines that taste better and are better for the environment. Our generation is becoming more aware of our impact on the environment and I want to be a part of the movement towards sustainable consumer products. I will have little competition on the low end side of the price index. I will need to visit more wineries that produce organic wine at reasonable prices. My biggest competition would come from California wines moving towards organic. Fortunately I’ll still be able to beat them when it comes to taste. My greatest resource currently is the connections I’ve made with wineries that are exporting around the globe just not in the United States. This experience in the Import/Export business will strengthen my knowledge of international markets and get me started on a project I am passionate about. Hope you guys are as inspired as I am. Cheers!

The Feedback I received was very positive. It got be excited to think that this could work and that other members of our class agree. One comment that helped the concept was the idea that a profitable environment for importation could change with a currency shift. This was beneficial to my concept and is something that I will try to prepare for. Overall I think the Venture Concept was a success and I feel that I'm on the right track. 

Week 14 Reading Reflection

Week 14 Reading Reflection:

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? In chapter three there was a story about the firm Signode. I was surprised that they chose to displace their Intraprenuer team off campus. I feel like they would be more creative if they had access to the rest of the companies resources. 

2) Identify at least one part of the reading that was confusing to you. It is confusing when the author gives us both the roles of middle managers and first line managers in the text. It is not clear whether they are able to alternate entrepreneurial tasks.  

3) If you were able to ask two questions to the author, what would you ask? Why? I would ask the author to go more in depth with his explanation of ecovision. I would also ask specifically whether a ecovision outlook is profitable in the long-term. 

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I couldn’t find anything that was wrong with these too chapters. 

Google Gold

1) A discussion of your general approach and strategy to search engine optimization (SEO). What were some of the activities you did for each blog post to pursue SEO? By following the guidelines set in this class I was able to improve my SEO. Sharing my blogs url address was one of the methods that increased my search results. Only a month into the class I was unable to find my blog until the third Google page. My blog now comes up as the 6th choice in a google search if I type in alexandvon. If I add the keyword wine then it comes up as a direct match. I did this on purpose so that I could use alexandvon and a brand name if needed. 

2) What were your keywords. How did you select those keywords? Did you change or refine your keywords through the semester? The main keywords I used were French Wine and Organic. 

3) How did you use social media to enhance your SEO efforts? What your your surprises or general impression of using social media to improve your blog's profile? Was social media generally receptive of your blog, or did it get ignored? I used links to relay viewers to my blog. I posted the url to the comment sections of dozens of posts. 

4) What was your most "viral" post? In other words, which post obtained the most traffic? Why do you think? My most viral post was my first elevator pitch. I think people are more likely to view videos.

5) Finally, did you make it to the first page of Google results for your keywords? If not, what page of results did you make it to? Yes if you type in alexandvon. My other keywords increase the ranking on the first search page. 

Celebrating Failure

Celebrating Failure

1.       This Semester I failed to attend the job fair. The job fair for Warrington offered many different internship opportunities. The job fair is the perfect place to find a payed internship. I also failed to attend all of the E-Club meetings. I was involved in the beginning of the semester and then stopped going.

2.       I had no excuse to why I missed the job fair. Many of my friends were at the event. I learned that events like a job fair are great for networking. During a time where we are always attached to our phones it is good to share some facetime with employers. Next e-club speaker event I will definitely go.

3.       Failure is a part of life. Today I watched Allen Iverson talk about failure. He has the mantra that you get knocked down but you always have to get back up. The only way to truly learn is through failure and trial and error. Whenever I fail at something I make sure not to make the mistake again. 

My Exit Strategy

1)   Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

My exit strategy depends on the future of the wine market. A change in the climate could reshape the wine industry. Warmer annual temperatures are shortening harvest windows around the globe. I would like to use strategic planning every year to determine whether the industry is growing or waning. If I did decide to sell, I would sell with enough capital to start a new venture. As an entrepreneur you can’t become too attached to any specific project. Entrepreneurs are able to follow different Market trends and capitalize on supply and demand gaps. My end goal would be to start a family business that I could pass down to my children. It may not be in wine but it definitely could be. The majority of wine Chateaux’s in France are family operated businesses passed on for generations. I think more about the future of my family then my own retirement. I also want my businesses to have a positive environmental impact. An exit into the real estate and conservation market is currently my dream exit strategy.     

2)   Why have you selected this particular exit strategy?

Like I explained before I want to make sure I leave something for my children. As the world becomes more populated the concept of scarcity is a reality. I want to make sure I am not part of the problem contributing to global warming and the destruction of our fisheries and forests.

3)   How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

In this particular business venture my exit strategy is definitely apparent. If I get into the food and beverage industry I only want to sell organic products. Growth would have been an issue ten years ago when the majority of consumers were ill informed about the environmental impact their product choices have. Thanks to social media and the internet more Americans are going green and buying organic. The success of stores like Whole Foods and Trader Joes is a perfect example. There is plenty of opportunity in the organic food market. 

Week 12 Reading Reflection:

Week 12 Reading Reflection:

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? The chapter didn’t go into detail about the research stage of any growing venture. Research and Development is a key component to determining whether a venture is high risk or Innovative.  

2) Identify at least one part of the reading that was confusing to you. It is confusing when the author gives us both Administrative and Entrepreneurial goals, but doesn’t explain in which situations they work best.

3) If you were able to ask two questions to the author, what would you ask? Why? I would ask the Author about teambuilding. When hiring the first group of people for a project how do you determine starting salaries? Should work contracts only last a year considering most startups have turning points after a year?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I couldn’t find anything that was wrong. One thing that has changed is small business ownership in Greece. Figure 13.7 shows Greece as having one of the highest rates of Entrepreneurship. After the collapse of Greece’s economy that figure has definitely changed. 

Venture Concept No. 1

Venture Concept

To explain my venture concept I will divide this report into three sections. The first section will pertain to the Opportunity that I am fulfilling. The Second Section will incorporate the elements of Innovation that run alongside my project. The Third section will map out how I plan to use my Venture Concept to take advantage of said Opportunity. This assignment gives the reader a good idea of how I plan on taking advantage of a market where an opportunity is present.

The Opportunity that exists is a lack of sufficient alternatives. Most wine drinkers that are ages 21-30 tend to buy their wines at the supermarket. After interviewing many millennials on their wine habits I also have discovered that they usually don’t pay more than fifteen dollars for a bottle of wine. The shelves at the supermarket are stocked with Californian wine. It is hard to compete with Californian wines in the current market. There is too much competition. The opportunity is to introduce a French wine that can beat the California wine in price, environmental impact, and taste with less toxic chemicals. The Forces driving change in the Industry are increased pressure on companies like Monsanto that control the Food and Beverage industries. Reports are showing that many of the pesticides used on Californian wines are leaving residual toxins in the end product. The wine industry has fed the demand for cheap wine by increasing yield and production at the cost of our health. I feel that as more reports come in we will have a movement towards what I like to call “BIO” wines. Bio is the word used in Europe to describe Organic “Biologically” friendly products. Another Opportunity that exists is a weakening Euro. The weakening Euro is friendly to European exportation. I will be able to Import French wines that can compete with the low prices of Californian wines. The Market is defined both demographically and geographically. Demographically I have to focus on lower cost wines because of the Demographics of Gainseville.  Geographically I am comparing California’s Nappa Valley to Frances’ Bordeaux, Burgundy, or Rhone Valley Regions. Geography is important in the wine industry because the land is the deciding factor to whether a wine will be good or not. It is a common practice to add minerals and other nutrients to soil before the grapes are grown. This practice is not necessary in many regions of France where the natural weather cycle of the year has been recycling nutrients to produce nutrient rich land for hundreds of years. I have also noticed in my interviews that the average American customer is not loyal to the current selection of wines they now have. Most simply by the wines because of the price and have fallen accustom to the often sub-par taste. When I mention French wines they feel that they are not sophisticated enough to appreciate or afford them. Little do they know that Europeans are drinking wine from the supermarket at 6 dollars a bottle. The Opportunity is huge but I want to focus city by city. Florida definitely has a drinking problem which is one of the reasons I would start here. The Vacation style living found in Florida is a perfect catalyst for a strong wine industry. The window of Opportunity is open until someone capitalizes on the current Market situation.

Innovation strategy is a key element in any business venture. I plan on providing an innovative product in an innovative way. My line of French wines have been using the same techniques for hundreds of years. My Venture is Innovative because I’m bringing products that have never seen the United States. Technology has definitely made the wine industry more efficient. Most Wineries now have sorting machines where they can place the grapes through to ensure that only the highest quality grapes are used for the end product. The Machine vibrates the grape bundles so that all the dirt and extra stems fall from the grapes. It also lets small malnourished grapes fall through giving the wine a more uniform/consistent taste. Hybrid vines are also being used to combat pest issues and weed issues. The new hybrid vines are also more resistant to periods of drought. My company will make money by selling each bottle with a certain margin. The price I sell to stores and restaurants will be enough to pay for the taxes and fees that come with importation. I will use the majority of my sales to then secure more contracts and increase shipment sizes.

My Venture Concept is geared towards bringing in organic French wines to areas where European wine isn’t present. I will select different wines for cities with different Demographics. I will meet the demand that exists for exotic wines that taste better and are better for the environment. Our generation is becoming more aware of our impact on the environment and I want to be a part of the movement towards sustainable consumer products. I will have little competition on the low end side of the price index. I will need to visit more wineries that produce organic wine at reasonable prices. My biggest competition would come from California wines moving towards organic. Fortunately I’ll still be able to beat them when it comes to taste. My greatest resource currently is the connections I’ve made with wineries that are exporting around the globe just not in the United States. This experience in the Import/Export business will strengthen my knowledge of international markets and get me started on a project I am passionate about. Hope you guys are as inspired as I am. Cheers!

Week 11 Reading Reflection

Week 11 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? I didn’t expect to read about any trade-offs when it comes to Innovation Strategy.

2) Identify at least one part of the reading that was confusing to you.

I could not figure out the connection between Leadership Strategy and Innovation Strategy. Innovation seems to lean more towards R&D.

3) If you were able to ask two questions to the author, what would you ask? Why?

When creating a business plan where is the Innovation strategy placed? The Author also doesn’t go into detail how to implement specific Innovation strategies.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I don’t disagree with anything the Author said but I wish the Author could have used Innovation strategy examples of smaller firms. It doesn’t help me to know how a big company like Kodak failed to Innovate. I’d rather learn how a small company used Innovation to expand its market. 

The Amazon Whisperer

Revenue Drivers:

My first and foremost driver would be retail revenue. I could also include online sales through websites such as Amazon.

Next Product offering:

After my wine gains popularity I will sell bottles from different French regions and different types of wine. The key is to provide enough variety to reduce cannibalization. I plan to increase loyalty by creating a selection group of wine. I could represent my French wines in different events/competitions across the United States.

The wine Chateau de Surs sells for only 10 dollars in France compared to 20 on Amazon. The Reviews praise the wine saying that they shared the wine with wine enthusiasts. It is very possible that the unique origin of the wine effected the consumer’s response to the product. What’s nice about the reviews is that you could sell only wines that people like and not worry about investing in large crates of one specific wine.  

I haven’t tasted this specific French wine so I could not comment whether I would add it to my collection. The price is about what I would sell my wines at though. 

My Unfair Advantage

My Unfair Advantage

Resources

1.1      Human Capital: I currently speak both French an English which is a major asset in the wine industry. I also have taken personality tests that indicate I adapt well to tough high stress environments. There is no substitute for a unique personality.

2.2       Social Capital: When I served in the Belgian Army I was forced to work with individuals with different personality types in rigorous environments. This experience translates into leadership skills that I can bring to my team when starting my business venture. Military training has only a few substitutes that offer the same level of mental testing.

3.3       Financial Capital: I have saved enough money during my working life to launch my own small business venture. Others might seek out loans but I have enough capital to avoid interest rates.

4.4       Producer lines: Recent visits to Bordeaux France created a new network of wineries that are willing to expand their ventures to the United States with my support. There is no substitute for a direct connection with a supplier.

5.5       Network: I’ve been building my network both here in the United States and around the world. I have friends from many different countries that are willing to collaborate with me. My network is unique and covers the globe which means there is no substitute.

6.6       Time: All my classes are online which means I can watch the lectures when it is convenient. This means I have enough time to devote to a business venture. There is no Substitute for time.

7.7       Environment: Gainesville is a great environment for any business opportunity. It has a wide set of Demographics. It is unique because of how many millennials there are. Other large college towns could be a substitute.

8.8       Digital Media: I studied Digital media in my arts high school as a major. This specialization taught me how to brand and market products I intend on selling.

9.9       Clan Organizational culture: I like working with close friends and family. This is an asset because they are people I can trust. I don’t have to worry about the integrity of the company. I could choose between the other 3 cultures but clan provides the best fit for a small start up.

1.10   Work ethic: When I set out to accomplish a certain task I attack it until it is completed. There is no substitute for a strong work ethic.

Top Resource:

My top resource is my network. Through my Network and mentors I have learned so much. Without the help of my network I wouldn’t have the vast unique set of resources that I now have. 

Reading Reflection Week 10

Reading Reflection Week 10

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

What surprised me about this week's reading was it's similarity to my financial accounting course. It was a recap of basic financial accounting. 

2) Identify at least one part of the reading that was confusing to you.

The key key variables used in regression analysis were not clearly explained. We are given the general formula ,but they only give us one basic example. 

3) If you were able to ask two questions to the author, what would you ask? Why?

At what point is it more convenient to hire an accountant?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? 

The traditional accounting equation they use Assets=Liabilities+equity is too basic for any practical use. 

Elevator Pitch No. 3

Elevator Pitch No. 3

Reflection:

My last elevator pitch was a overall success but missed a few key elements. I was told it was professional. First I did not talk about the geographic locations where i want to launch my business. I also failed to explain what makes my products different compared to the competition. 

Changes: 

This time around I included a bit of history for my products. I also shared why I felt consumers would be interested in my environmentally friendly products. Hope you guys liked my pitch! Its difficult with only 60 seconds!

Week 9 Reading Reflection

Week 9 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? I was surprised to learn how much entrepreneurs can struggle to find the right Market. Every time I attack a new idea the market I want to work on is always my first objective.

2) Identify at least one part of the reading that was confusing to you. I wasn’t confused with the chapter but I do wish he went more in depth into specific Marketing strategies such as street/gorilla Marketing.

3) If you were able to ask two questions to the author, what would you ask? Why? What has changed in the Marketing sphere in the last 10 years with the emergence of social media? How does Marketing affect political campaigns?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I didn’t disagree with anything in this chapter. I learned about most the topics already from my prior Marketing Course. 

My Secret Sauce

Secret Sauce

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

1. I am bilingual and can speak French and moderate Spanish. 

2. I served in the Military.

3. I pride myself in being very trustworthy.

4. I'm outgoing and connect easily with strangers.

5. I'm observant and able to adapt to difficult situations.

2) Interview the five people who know you the best. Ask them what they think makes you different -- In Order. William/Greta/Erich/Joe/Daniel

3) Reflect on the differences. 

For my interviews it seems like there was two major trends. My experiences in the Army and Overseas in Europe make me unique. I am able to relate with a broad spectrum of people and operate well under pressure. It is very interesting to see how my friends set me apart. I am very lucky to have such close friends and family and through this exercise i can sharpen my strengths. 

Idea Napkin No. 2

Idea Napkin No. 2

In my second Idea Napkin I included the following sections as required.

About me:

My Project:

What I am offering:

My Target group:

Why choose my product?

Overall, after completing my Idea napkin I felt like the different sections blended together quite nicely. The one pairing that I felt was a little weaker was the pairing of my target group and the reason why to choose my product. After feedback from my four interviewees I found out that I should also target local business owners to sell my products at produce markets and wine tasting events. I shouldn’t merely focus on graduating students and newcomers to wine.

For my feedback memo I took away 5 important points.

1.      Expand my connections with local farmers to obtain valuable local markets to sell French wine.

2.      Concentrate on French wines that have low environmental impact.

3.      Present my wine selections at local wine tasting events to increase popularity.

4.      Talk and collaborate more with local businesses to understand how they manage distribution.

5.      Talk to the owners about their success stories and see if they will collaborate with you to sell your product.

Below are my 4 recorded interviews. Jenny, Michael, John, and Gene.

Gene preferred that he wasn’t recorded while working but agreed to share his feedback.

 Jenny--   https://soundcloud.com/user-707812648-744012805/new-recording

John--   https://soundcloud.com/user-707812648-744012805/john

Michael--  https://soundcloud.com/user-707812648-744012805/hindu

Gene is a Manager at ABC wine a liquor on University and 11^th street. After talking about demand he explained that there was a larger demand for wine in West Gainesville. At his store specifically he showed me that there selection was quite bare. He felt my concept would work best by actually opening a small retail store in Northwest Gainesville along 34^th. He pointed me in the right direction by explaining that the archer store had a larger collection.

Overall I feel that the business owners I talked too really liked my idea. This was a great assignment and I timed it perfect by visiting the local Market to conduct my interviews. 

Week 8 Reading Reflection

Week 8 Reading Reflection:

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? I was surprised to learn how much of an impact recessions have on the lending market. I didn’t realize how sensitive Banks were when giving out loans.

2) Identify at least one part of the reading that was confusing to you. I felt that the portion of text explaining the Investor Roadshow was confusing. For some reason it is listed at the 4^th step in going Public. If the chapter is all about funding shouldn’t’ finding investors be the 2^nd step? Also shouldn’t a company seek out its major investors before it decides to go Public?

3) If you were able to ask two questions to the author, what would you ask? Why? What type of credit is needed to make large business loans over 25,000. Can you land a large business loan with a good business plan alone?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? Honestly there was nothing the Author said this week that I particularly disagree with. 

Half-Way Reflection

Half-Way Reflection

1) Tenaciousness is a skill. What are the behaviors that you have used (or developed) to keep up with the requirements of this course? Confidence is key! This course is all about getting out their and taking risks! It is not easy putting your idea's out there. By sharing your ideas with others you get important feedback. I kept a tenacious spirit by realizing that every interview i did would improve my people skills. 

2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this? During the third round of interviews I almost felt like giving up. My target group was unwilling to have themselves recorded talking about their alcohol consumption. Fortunately the professor changed the ruling on videos and I was able to interview customers anonymously. That change is what really pulled me through. 

3) Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ? The first is stay positive. Even though someone might not like your idea take their opinion with a grain of salt. They might not be in your target group. Second tip is to check your assignment deadlines every day. Their are a lot of assignments in this course each with their own deadline. I missed a few deadlines and lost easy points because I didn't check every day the first month. The third tip is to never give up. Even if you have to change your business vision never give up. Every day is filled with new oportunities. Someday you will find the perfect fit for you. Good Luck!

The Twenty Percent

The Twenty Percent 

The Snapshotr: A Mixologist's best friend.

For my interview I decided to contact Mr. Andrew Levin founder of Snapshotr. We talked a bit about his company and how it has grown. I explained to him how the Pareto Principle works when targeting customers. The idea that 20% of a companies customers produce 80% of it's revenue runs true, After a quick chat he explained to me that his target group was college kids. Next I found 3 potential customers in that target group and asked them each about their thoughts on having a two chamber shot glass. Does it fit their needs? We'll see!

Daniel 23: I met Daniel of University near Heavener. I explained to him the concept. He said he would definitely invest in such a product. He also thought it would be a great idea to target Fraternities here at UF. 

Shelby 22: Shelby is in my Management class. I asked her about the idea of a two cylinder shot glass. She was interested ,but said she would prefer to buy one that was made of glass for the current price. When I mentioned that the product could be introduced to Greek life she agreed. She thought it was a cool innovative idea ,but it didn't quite meet her need because it wasn't made of glass. 

Chris 23: I met Chris at the Salty Dog Saloon. I told Chris about the idea and he thought it was great. He is studying nutrition. He said that it added a fun element to drinking and that it was a great concept. He felt that college students would definitely love to have one in their apartments.

Overall I think Andrew's target group was spot on. Its a great concept and I think it could really flourish here in UF. There is a large group of his target Demographic here in Gainesville. I look forward to helping him expand his already successful business here in the Swamp. Check his site out!

http://www.thesnapshotr.com/ 

Reading Reflection Week 7

Week 7 Reading Reflection: Rediscovering Market Segregation.

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? I didn’t expect the article to be so heavily focused on advertising. I knew that advertising helped appeal to certain segments ,but I did not understand that it is used for segmentation.

2) Identify at least one part of the reading that was confusing to you. The Section concerning which customers drove profits confused me. The example they used was banks segmenting their customers based on the managers they worked with. How can you segment a group by the employees you already matched them with.

3) If you were able to ask two questions to the author, what would you ask? Why? At what point should a company or a startup create a marketing department. What kind of surveying is most effective for segmentation?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? They used mens razor blades as an example. The Author said that men prefer just what gives the closed shave. I disagree. I don’t necessarily want the closest shave but I want a razor that is quick and easy and doesn’t cut my skin. 

Valentines Day!

Happy Valentines Day! Don't forget the wine!!

Interviewing Customers No. 3

Interviewing Customers #3:

This weeks Interviews consisted of honest feedback from individuals on my idea. 

I wrote a 1 paragraph note card outlining my project. 

Wine for Thought:

Can you Remember the last time you bought a bottle of wine? Did you look to see where it was from?  Even if your'e not a wine expert would you be willing to give French wine a try? The Euro is down compared to the American dollar making European wines cheaper to buy and import. Would you like to see a more diverse wine list at your go to restaurant? I plan on importing French wine to restaurants here in Florida. Do you think it would be a good idea? Thanks for your honest feedback!

I decided to wait outside a wine store on archer (ABC liquors). After starting up conversation with a couple individuals i got some interesting feedback.
1) The first lady i met was named Rachel, she was very nice but when i asked if i could film the interview she was reluctant. She explained that alcohol was a sensitive subject for her work reputation and she preferred to stay anonymous. Rachel was 37 years old explained to me about the difference in wine selection here in Gainesville compared to her hometown in New Jersey.  She said that it was a great idea but that there was a lack of high class Italian restaurants in Gainesville.
(after my first interview I realized that most would feel uncomfortable being filmed outside a liquor store; to get honest feedback i needed the interviewees to feel comfortable.)
2) Jefferey and Lucy are in their 40's. They explained to me that they rarely drink wine but on this special occasion they were going to buy champagne. I asked them what kind and they said the real stuff. I was excited to hear that someone was buying real champagne. They explained that when they do buy wine it's usually at the supermarket and under 12 dollars. They explained that they would buy nicer wines to bring  over to friend houses. This gave me the idea that i could incorporate some sort of wine gifting service into my venture.
3) Ricky was 48. After reading my notecard he explained that although he doesn't often drink wine he would rather buy American. I noticed this in some of my other interviews. There is a significant portion of people who would rather buy a Californian wine because its made domestically.
4)The 5th person i talked to was Henry who was 32. He was impressed by the idea and suggested selling the wine in ABC liquors. He said he would buy the french wine if it was under 20 dollars. He was actually going in to buy wine for a date with his girlfriend. He also said that when he gets wine at restaurants he only gets by the glass.

My main takeaways from these interviews was that I should possibly incorporate some sort of holiday themed gift basket sets. I also realized that i could try to sell my wines to liquor stores. It was a great experience. Happy Valentines Day!

Week 6 Reading Reflection

Week 6 Reading Reflection: The Five Competitive Forces that shape Strategy.

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? I was sad to see that wine and brandy are under the national return percentage of 15%. I would have liked to see that percentage higher considering it is the Industry I want to get in to.

2) Identify at least one part of the reading that was confusing to you. I feel like the Author could have numbered the Forces Better. The different forces are scattered throughout the text and are hard to find.

3) If you were able to ask two questions to the author, what would you ask? Why? I would ask the author how we can learn more about specific industries. Can we really trust what major companies tell us? What’s to stop companies controlling a certain Industry to make false claims about how competitive their market is or what substitutes might exist.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I disagree with the idea that eliminating competition is risky. It is not risky when you could be the one who is eliminated. In the words of Ricky Bobby , “If you’re not first your last.”. ;)

Idea Napkin No.1

Idea Napkin!!

Idea Napkin!

1) You. Idea Napkin!!

I’m Brandon von Unruh. I was born and raised in South Florida. I lived in our beautiful state until 2009 when I decided to move to Europe. I learned French while living abroad and got to try all sorts of different foods and beverages from around the world. I grew to adore French wine and in my travels I visited Wineries in the west and south coasts of France. I see myself using the winery connections I have made abroad to start my venture into wine importation here in Florida.

2) What are you offering to customers? 

I am offering high quality wines at a fair prices. When you drink a French wine you are drinking a piece of history. The wines I will be selling have been in operation for centuries. My wines will have low environmental impact with tastes that get even better with age. I’m offering a quality product in a market over saturated with impure cheap wine.

3) Who are you offering it to? 

I want to start in small restaurants and eventually expand to franchise groups. My target area was originally South Florida.

4) Why do they care? 

Now that the economy is starting to move again people will invest in quality products. It’s time to restock the wine cellar. I want to give the average restaurant goer the chance to purchase a French wine. My hope is that they will take the leap and discover that when it comes to wine France knows best.     

5) What are your core competencies? 

I have traveled the world and I have studied different cultural gaps that exist in the Marketplace. I am an American and a European dual citizen which means I can work and trade within the United States and the European Union. I am bilingual which gives me an edge when dealing with French speaking countries and the United States. 

Interviewing Customers No. 2

The Idea: Importing a variety of French wine to Florida. 

1) Fine tune your opportunity. You began with an idea of what an opportunity might be. After your first round of interviews, what do you think, now? 

After my last interviewees I have realized that my Targer Group needs to be older students. I found that the Juniors/Seniors I interviewed were more likely to drink wine. 

2) Fine tune the "who." Did you talk to the right customers last time? What did you do differently this time? How did you adjust your conceptualization of who your customers are?

This go around I am interviewing customers at a Super Bowl Party. This will give me a good mix of different age groups. My prior interviews were soley students in their 20's. 

3) Tweaking your interview questions. You might need to ask different kinds of questions to get at a fuller, richer idea of what your opportunity is. What kind of changes did you make?

I have added the question, "How old are you" to get a better idea of generational trends. 

5) Tell us what you learned about the opportunity. You now have 10 interviews under your belt. What do you think about your opportunity now that's different from where you started?  

I hope to get a fuller picture of everyones specific wine tastes and not just students. 

6) Tell us what you learned about interviewing customers. You're practically an expert on interviewing customers. Please write three tips that you'd like to offer students in this class next semester about interviewing customers.

I think the key is to catch people outside of events. This is how I did week one interviews. After the Super Bowl party is over I will edit the videos and add them to the post. Cheers!