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/