30A - Final Reflection

• My most formative experience throughout this class was the entirety of the lectures. I have taken a lot of notes that are genuinely going to prove useful in my future, unlike a number of classes we must take. Frankly, my most joyous experience was when the rest of the semester's  Cupcakes were graded as 100%, because I knew I could earn the grade I wanted afterwards! I also agreed we students deserved a bit of leniency with everything currently going on. The experience that I'm most proud of is having created this blog! After looking back upon the whole thing, I see that I truly did some in-depth research for my business venture, most notably, all the interviews.
• Now that we are approaching the very end, I would definitely consider myself to be an entrepreneur! This class has taught me that being an entrepreneur is a fairly experimental venture, because we must expect failure and learn from it. Alongside the long list of other things I've learned, my biggest takeaway is that it takes an immense amount of effort from a suitable group of people to successfully execute an entrepreneurial venture. I considered myself an entrepreneur before entering this class, but now afterwards I can confidently say I have improved my entrepreneurial mindset.
• The one recommendation I would make to the students who might be following this path is explained perfectly by the cliché: don't wait til the last minute. The weekly assignments along with the lectures/cupcakes add up, especially for an online class. To perform best, I'd recommend students complete at least 1 assignment ahead of time during weeks that have 2-3 assignments due. To foster this mindset, students should keep a schedule/agenda and make themselves stick to it. All this being said, those who are taking this class should be able to get an A so long as they follow these tips!

29A - Venture Concept No. 2

1. Venture Concept

• The opportunity I chose to pursue throughout ENT3003 was the issue of chores not being evenly distributed amongst household roommates. This problem is inherent, because people often have different standards of cleanliness.
• The driving forces creating my opportunity are lazy roommates, messy roommates, and the high prevalence of students entering college with careless, random roommates.
• People in this market comprise the majority of college students, suburban families with young kids, and young adults who live with their friends. Geographically, this market exists in college towns, big cities, and the smaller cities surrounding them.
• Customers only two current options for satisfying this need are either asking roommates for help or hiring a maid. They are probably not inclined to constantly ask for help since this comes off as a hassle, but if they have had a maid for years then they are likely very loyal to them.
• My innovative solution to this issue is a digital algorithm that will optimize the balance of chores and other household duties based on users' personal preferences within individual households. Users will input their preferences (chores they don't mind vs. ones they hate) from a thorough list of options, and my algorithm will evenly distribute daily chores to each roommate individually. This way, the work is coordinated and users will only sometimes have to do a chore they despise.

2. Feedback

• I received a fair amount of feedback on both my first venture concept as well as my "What's Next?" assignment, and I think all of it is undoubtedly worth considering. The feedback that stood out most to me was a peer's very thorough comment about how things could be done differently. He used a lesson we learned in class (could your goals be executed in a simpler manner?) to show that my venture concept COULD be done by something as simple as a poster around campus or something similar. This would also foster a healthier environment, since my venture concept heavily relies on people's increasing use of technology.

3. Change

• Although I value the 3rd-person perspective I gain regarding my venture concept, I can't just pack up and quit because a poster MIGHT be just as effective. I don't think it's possible to put up posters around hundreds of college campuses, and my technology will be inherently widespread since it has never been done before. One change I know will be beneficial is my endorsing universities to push my application on their students. I'm confident it would prove to be an organized way of splitting up chores amongst roommates.

28A - Your Exit Strategy

1. Exit Strategy

• I intend to hold on to my business until it reaches a value that I am comfortable making a sale at. This could be anywhere from 5-10 years down the line. If I received an offer that I could see myself comfortably living and further investing off of, then I would gladly take the offer.

2. Why?

• I have selected this particular exit strategy, because the business does not revolve around something that I am extremely passionate about. Furthermore, I don't think turning it into a family heirloom would suffice for my children either, because not many people out there are devoted to doing chores.

3. How?

• My exit strategy has influenced my promotion and advertising tactics, because I want to achieve the highest rate of growth as possible. Me knowing that I don't want this venture to be passed on to my kids causes me to aggressively advertise in order to yield the optimal amount of exposure as well as word-of-mouth. Finally, it has increased my overall use of resources, because I don't want to be stuck "scraping by" years down the line.

27A - Reading Reflection #3

1.

• I decided to read Coco Chanel by Lisa Chaney, because I have an interest in the fashion world and I have heard many controversial things about her. What surprised me the most about her was the fact that her designs were used as a source of inspiration for extremely well-known artists, including Pablo Picasso and Salvador Dalí.
• The thing I most admire about Gabrielle "Coco" Chanel was the way she pioneered into the fashion industry as a woman in the 20th century. Equal rights were not as set in stone as they are today, so she was evidently very influential for her time.
• The thing I least admire about Gabrielle Chanel was her immoral antics. Chaney reveals that she had a history of drug abuse, lesbian affairs, and even a German lover in the midst of World War II.
• Coco Chanel certainly faced adversity during her era, considering how the Great Depression occurred in the middle of her business' rising success. Nobody had money for expensive clothes during a time like this, and wearing them was seen as snobbish. To deal with it, she simply closed up shop and didn't return for decades.

2.

• The competencies I noticed that Gabrielle Chanel exhibited were her unique design skills, which paved the way for many luxury houses we know today, as well as her endurance through a biased industry and harsh critique.

3.

• The main part of the biography that confused me the most was when Coco moved from Paris to Switzerland in order to live away from the media's spotlight, only to come back many years later.

4.

• Two questions I'd ask in order to get a better understanding of the overall process of her success:
• What made you want to return to your brand after so many years hiatus?
• How did you overcome the harsh male critics of your day, who were obviously biased?

5. 

• In a sense, Gabrielle Chanel has a contradicting work ethic as told in this biography. She worked extremely hard against adversities in order to turn her brand into a success. However, when the Great Depression came around, she threw her hands up in the air and essentially gave up for a number of years. I definitely share the initial part of her work ethic with Coco, but I can't ever see myself completely giving up on my venture.

26A - Celebrating Failure

1. My Failure

• One failure I experienced this semester that quickly came to mind was my failure to upload an initial elevator pitch. When I look back on my Canvas calendar, I see that I had an exam as well as tons of work outside of this class that particular week. I turned in 9A and 9B, which were due at the same time, but I remember feeling very overwhelmed to the point where I just didn't do the first elevator pitch. I probably stayed up late a couple other nights that week, and I figured I could afford the points to get a good night's rest.

2. What I Learned

• Since this was a rather simple failure that didn't cost me much, the lesson learned was mild, but practical: don't wait until the last minute to do your work, or else you'll regret it for more reasons than one. Those reasons being a potentially bad grade and a lack of sleep. This lesson is one all of us students have certainly been taught, but sometimes the temptation of procrastination gets to us.

3. Reflection

• In the moment, failure can feel like an utter nuisance, perhaps a point of restarting entirely. But it's important that we look back upon our failures not as embarrassments, but as guidelines on what not to do. I personally try to do this as quickly as I can after my failure occurred, because it relieves my mind of the embarrassment, which is usually inevitable. I think that this class has certainly made me more likely to take risks, especially as an entrepreneur who is graduating soon!

25A - What’s Next?

1. Existing Market

• Step 1
• In my previous post, I entertained the idea of creating a somewhat different adaptation of my current venture, regarding a service that would allow parents to assign chores and other household duties to their children. I think this or some other sort of adaptation that makes use of my algorithm would be a fine addition to my brand.
• Step 2
• After interviewing three people in my current market, I got the idea that I should set goals not only to advance upon my current technology, but also to create similar services that are more tailored to other specific target markets.
• Step 3
• To set up a path for the future of my company, I must gauge the rate of growth that we will undergo. My expectations tell me that we will see a fair amount of success in our first year if we promote properly; if this is the case, then we can perform some more research to see which demographics best fit into the opportunity of our new market. Currently, my best idea is targeting parents of young children with a different adaptation to my original idea, ChoreMate.
• My interviewees gave me more general advice in regards to planning for the future of my company. It is not quite easy to think of similar but different markets to target, so I didn't blame them. They told me to set goals for keeping my algorithm up-to-date, for branching off into new markets, and for finances and profits.

2. New Market

• Step 1
• Since my primary target market is fairly specific, I will need to expand upon it in order to develop branching products and/or services. One market that is radically different from college students is that of elderly people.
• Step 2
• I had a hard time thinking of the value ChoreMate creates for elderly people, because their homes are never typically messy. Perhaps, I could tweak my algorithm so that it gives elderly people reminders for all of the household work that there is left to do, on a less stringent timeline than that of ChoreMate.
• Step 3
• Hmm... Who are two old people that I can call up for interviews during this quarantine? My grandparents!
• Step 4
• I learned quite a lot about this new demographic that I may consider targeting from my grandparents. Their household is always clean, because they still have the same maid that they did a decade ago! My grandma did mention how some of her elderly friends have learned to enjoy chores and cleaning as they got older. However, the most glaring surprise I got was my grandpa's brutal honesty, "that would never work." He followed up with the fact that old people use technology far less than younger generations.
• Since I knew how radical it was to choose the elderly to target with a new technology, my assumptions were spot-on. This new market does not appear as attractive as my existing one, because the demographics simply don't match up with the utility of the software.

24A - Venture Concept No. 1

ChoreMate

Opportunity

• The opportunity I chose to pursue throughout ENT3003 was the issue of chores not being evenly distributed amongst household roommates. This problem is inherent, because people often have different standards of cleanliness.
• The driving forces creating my opportunity are lazy roommates, messy roommates, and the high prevalence of students entering college with careless, random roommates.
• People in this market comprise the majority of college students, suburban families with young kids, and young adults who live with their friends. Geographically, this market exists in college towns, big cities, and the smaller cities surrounding them.
• Customers only two current options for satisfying this need are either asking roommates for help or hiring a maid. They are probably not inclined to constantly ask for help since this comes off as a hassle, but if they have had a maid for years then they are likely very loyal to them.
• This opportunity has the potential to be huge; the sheer size of this market as well as the constant influx of college students infer that there will always be a need to solve this problem.
• The "window of opportunity" will be open until someone successfully implements a groundbreaking, new solution to the problem, considering that there are only two other options.

Innovation

• My innovative solution to this issue is a digital algorithm that will optimize the balance of chores and other household duties based on users' personal preferences within individual households. Users will input their preferences (chores they don't mind vs. ones they hate) from a thorough list of options, and my algorithm will evenly distribute daily chores to each roommate individually. This way, the work is coordinated and users will only sometimes have to do a chore they despise.
• My means of profiting from this idea will be selling the software through mobile applications, but I will touch on this more in my venture concept. The app will be free with advertisements, but it will also offer the option to pay $1/month to remove all ads. I feel this is the most profitable execution for my software, because customers would likely be scared off if they were forced to pay some amount, which might quadruple depending on the amount of roommates.

Venture Concept

• As stated earlier, the way I plan to apply my algorithm to the real world is through a free mobile application that will give users all the customization they want, so long as they keep up with their chores.
• The primary reasons customers might switch to my app are the high costs of maids and the hassle of always having to ask roommates for help with chores. It will probably be fairly easy to get cleanly people in this market to switch to my solution; however, it might prove very difficult to get their messy roommates on board. This is another reason the app will have a free-with-ads option.
• The sole competitors who share my target market are maids / housekeepers. Their vulnerabilities consist of high expenses for the customer as well as the difficulty of retaining loyal customers.
• Since my solution is a service, my packaging will come in the form of my app's logo and design. It will be simple, clean, and streamlined for the average user. Price points are very definitive in my venture concept, because they are the driving force for switching competitors' customers to my solution. Distribution will be handled by the respective app stores of different mobile phones. Finally, customer support will play a big role, because my company must be open to new feedback as a startup.
• To organize the business, I would hire around 5 digital engineers to develop the app, 30-40 people as customer service agents, 2-3 chief managers, and a good lawyer to protect my patent. I will hire new agents in accordance with the growth rate of the company.

Three Elements

• In the previous assignment, I decided that my patent was likely the most important resource for my innovation. I still think this holds true, because it would prevent any other company from imitating the unique algorithm used in my application.
• I think since college students would be the primary user base of my app, my next business venture would be creating a similar app that is more tailored to suburban families with children. Rather than evenly splitting the chores, this app would allow parents to assign chores to their young children, who in this day and age are always on their phones, meaning they'd have no excuse for not doing them.
• In 5 years, I want to remain confident in the lasting power of my software, so I know my app was not simply a trend. Furthermore, it'd be beneficial for all if colleges picked up on the app and recommended it to incoming freshman who will soon be living in dorm rooms. In a decade, I want to look back upon my entrepreneurial venture and be able to enjoy both the ups and downs in the long-run; frankly when the time comes, I'd like to sell the company in order to pursue another venture!

23A - Your Venture’s Unfair Advantage

1. Human Capital / Connections

• V: I have valuable connections with engineers who have fresh knowledge on things like coding, which are essential for my app's development.
• R: As a student, I have just happened to befriend a number of engineering students who would be more than willing to help me out.
• I: My connections are inimitable, because I have known these people as friends for a number of years. I could replicate this, but it might take years.
• N: This resource is fairly substitutable, but like I said before it could take years to develop the same relationships.

2. Experience

• V: I've considered myself an entrepreneur for many years, so I have experience with profit margins, common mistakes, etc.
• R: I'd consider my 6+ years of experience pretty rare, especially for my age.
• I: This is only imitable through gaining years worth of experience of your own in the industry/field you desire.
• N: There are not any other resources that could substitute the benefits of my experience.

3. Approachability

• V: My approachability is valuable, because anybody with an idea can come to me for feedback and consideration.
• R: It is also fairly rare, because it is a known stereotype that bosses/managers can be overly narcissistic.
• I: It is not very imitable, because it stems from a combination of my enthusiasm, my appearance and my likelihood to smile.
• N: There are certainly no other resources that could reap the same benefits as this.

4. Dedication

• V: My dedication to this opportunity is valuable, because I will quit at nothing to prove my idea would work in the real world.
• R: Most entrepreneurs are genuinely dedicated to their ventures, so I wouldn't consider this a rare resource.
• I: Dedication is also fairly imitable, because it is easy to look up to successful brands and follow their practices.
• N: There are other resources listed that can substitute the benefits of dedication, because they go hand-in-hand with it.

5. Individuality

• V: The individuality of my service is undoubtedly valuable, because this idea has never been tested in the market, hence it is one of a kind.
• R: Individuality in branding is very rare, as proven by the rampant competition across all industries.
• I: Individuality is highly imitable, especially once the word gets around. It's almost guaranteed someone will reform your idea in the market.
• N: The benefits of individuality can and will be substituted by those of my patents, another resource I list.

6. Diverse Target Market

• V: The sheer size of my target market is very valuable, because it helps measure my potential for success.
• R: Having a diverse target market is not a particularly rare resource for a brand to have, unfortunately.
• I: This resource can easily be copied by any entrepreneur, because it's not difficult to come up with an idea that could benefit millions or more.
• N: This resource is non-substitutable, because my target market is already set in stone.

7. Patent

• V: The patent I plan to acquire on my app's algorithm will be very valuable, because it will eliminate the majority of copycat entrepreneurs from my business.
• R: Patents are fairly rare, especially in the mobile application industry.
• I: The whole concept of a patent is protecting your product/service from imitators.
• N: While the benefits of a patent cover those of individuality, the opposite is not quite true; therefore, this resource is non-substitutable.

8. High Interest Before Launch

• V: Having a general scope of the demand we anticipate is very valuable information for our digital management team, who will need to implement some number of servers.
• R: There is a fair amount of consumer interest in my venture solely based on prior research, which is definitely rare for a small, up-and-coming brand.
• I: Having high demand before even having a release date is an inimitable resource, evidently.
• N: The benefits of having high levels of consumer interest before launch tie into the benefits of having a large target market, in the sense that both gauge my brand's potential for success.

9. Financial Capital / Cost-Effectiveness

• V: Since my business venture is a service, there are not many fixed costs. With that being said, I must have a formulaic way of estimating variable costs for tasks like server maintenance. This would be an extremely valuable resource, because I could estimate things like profit, costs, and growth rate.
• R: An entrepreneur providing a service with minimal fixed costs rather than a product is not rare at all.
• I: All websites and applications providing a service try to cut costs in the same way, so this resource is highly imitable.
• N: There are certainly other resources listed that could help to cut costs, so this resource is substitutable.

10. Organizational Culture

• V: I want to develop a welcoming and neighborly office environment; this will be valuable, because my employees will love coming to work everyday.
• R: Having a rather informal, comfortable working environment is pretty rare these days when every other employer requires you wear a suit.
• I: Having a balanced organizational culture is pretty inimitable, because it all depends on the attitudes of the employees.
• N: The main benefit of this resource is the overall happiness of our staff, which is not reinforced by any other listed resources.

I believe the best resource I own that correlates with my venture is the patent that would protect my brand name, logo, and the algorithm used by my app. Individuality is up there too, but since the benefits of a patent are overbearing, I would say this is my most important resource. The next top resources I'd list would be my human capital as well as my experience, but they did not check off the VRIN analysis as thoroughly as my patent does. Most of my other resources were imitable, substitutable, or a combination of both, so again my patent stood out the most to me.

22A - Elevator Pitch No. 3

1. Pitch

• https://youtu.be/N0SyVJa7ElM

2. Reflection

• The feedback I got on my previous elevator pitch that stood out the most to me was that I should prop up my camera so that I wasn't looking down at it. I feel this is a bit more essential criticism as opposed to insightful criticism, because it really made a difference. Furthermore, I was advised to grab the viewers' attention in the beginning and to possibly include a quantitative statistic that would support my pitch.

3. Changes

• The main change I made to this elevator pitch was lifting my camera, so I wouldn't be looking downwards like I was in my last elevator pitch. Another cinematographic change I made was moving my camera to a different side of my room, so that I could have much better lighting in my pitch. Because of this, my third elevator pitch was a lot more engaging and less blurry than my previous. Finally, I cut down on the hand gestures and experimented with my articulation, so the true focus of the video is what I have to say.

21A - Reading Reflection No. 2

1. I chose to read How to Fail at Almost Everything and Still Win Big, by Scott Adams because I thought it had the most interesting title of all of our options. The general theme of the book is to reevaluate your overall perspective of life by disregarding social biases in order to look upon your failures as learning experiences rather than embarrassments. In other words, failure is perfectly okay in the long run.
2. The main point that I associated to lessons in our class was that failure is actually necessary for success in entrepreneurship. Adams contributes tons of evidence that failure is often times a crucial step in an entrepreneur's journey to success. Furthermore, he wants readers to think in a rather unorthodox way; he states that we should be more open-minded and unbiased in regards to our individual values as well as societal norms. I think this lesson is also underlying in this class, since we are urged to think freely and do what makes us happy in the entrepreneurial world.
3. If I had to design an exercise based on the book, I would have students pick the 10 values they prioritize most from a list on at least one hundred. Then, I would have them read a controversial entrepreneurial story asking them what they would do in this specific situation. We could discuss as a class how they might have had to break their values to become successful or how they accepted defeat because of their values. We would then look at the controversy from a perspective that epitomizes Adams' beliefs of making a learning experience out of it.
4. I think Scott Adams' most surprising topic of conversation was his discussion on the benefits of being selfish. I personally make a point to be as considerate and polite as possible to family, friends, roommates, and even most strangers. However if I were to look at his discussion from an unbiased point of view (like he would want me to), I'd have to agree that selfishness can be useful, to an extent.

20A - Growing Your Social Capital

1. Domain Expert

• Tyler is my childhood friend who always had a passion for the internet and all things online. He is currently on track to graduate this semester from a different school with a software engineering degree. For the past year or so, he has been working on an app that helps users create memes with tons of different formats.
• Tyler fills the domain expert slot, because he has experience in the process of actually coding and developing a mobile application. Also, he knows the preferences and restrictions of both Apple's and Android's app stores, so we could avoid those issues from the start.
• Tyler is one of my good friends to this day, so I FaceTimed him to show him some of my blogposts and get his opinion. I have been friends with him since elementary school.
• Tyler did me the favor of providing genuine constructive criticism on my opportunity. He mentioned that a one-time fee might not be sustainable for the company. He also said it would be a pretty awkward conversation for one person who wants to download the app to get their roommates on-board. Luckily for me, he has an idea of what the app might look like to be streamlined for the common user.
• Including Tyler in my opportunity would be a huge help, because he truly enjoys designing applications. He also has a degree of professionalism when it comes to mobile applications, so he could advise me which ideas to keep and which ones are mistakes, before actually releasing my service to the public.

2. Market Expert

• Dilma is the maid that my parents back home hire to clean the house every two weeks or so. She immigrated to the USA and now runs her own private cleaning services business all by herself. She is married with two kids. We have become good friends with her in our house.
• Dilma fills the market expert slot as a maid, because we are essentially targeting the same market: people with messy homes. She is also very experienced.
• My parents found Dilma and her services through the internet, where she is highly rated locally in my hometown. I simply texted her showing her some of my work and asking her opinion, because we are very friendly with her.
• I had Dilma look at a couple of my blogposts that explain the nature of my opportunity. I wanted to get a grasp of how she thought my idea would play out in the market. She advised that I had a pretty good idea that could be tweaked around a little bit to potentially become a true success. She also made note that if my app went viral, then her customer base might start falling.
• Since Dilma has over a decade of experience in cleaning services, she is very familiar with the basics, like pricing and manners. She also knows the demographics of people who don't like to clean versus those who don't mind.

3. Industry Supplier

• Since I don't personally need a supplier to run my opportunity idea, I went with suppliers of cleaning goods. Shauna was the very nice sales associate at Dyson, who took the time to go over my idea.
• Shauna fills the industry supplier slot, because she is a sales associate for Dyson, a household appliance / care company. She quite literally supplies appliances like vacuum cleaners and mopping tools to cleaning service companies. She has had a number of clients who requested bulk orders.
• Since I was at a loss trying to find someone, I called Dyson's customer service number to connect with their sales team. Shauna was nice enough to help me out instead of trying to make a sale, which was probably what she was expecting.
• Shauna explained to me that cleaning service companies are often very successful, because they do not need a constant supply of much, besides rags and towels. Every other appliance can be reused for years on end, so there is rough competition for my service. She also stated how COVID-19 is affecting the industry, mentioning that she hadn't made a sale in days.
• I probably wouldn't directly include Shauna in my opportunity idea, because I myself don't need cleaning supplies for my brand. However, she could help me exploit information, such as cities with the highest sales volumes, which ties into how my opportunity would function in the real world.

Reflection

• This experienced helped my networking skills, because now I can make connections between my own ideas and others' to see if there is a potential benefit for both parties. I know who to include and who to eliminate in my future networking endeavors, so no time is wasted. This particular experience differed greatly from other past networking experiences, because I had to do everything over the phone! All my past networking experiences have always been in-person, because that is simply how it's done so each party gets an idea of what the other is truly like. Thanks to COVID-19 I was limited in the personification of myself as well as my questions, because none of the interactions were face-to-face. Regardless, I enjoyed it as I do all networking opportunities.

19A - Idea Napkin No. 2

1. You

• My name is Blake, and I consider myself to be a good negotiator, a quick learner, and a fairly experienced entrepreneur for my age, because I have been running my sneaker business on the side since 2012. One day, I want to own my own successful business with a loyal client base. I believe this opportunity I have found will suffice, because I have conducted a considerable amount of research and have taken tons of constructive feedback.

2. What are you offering to customers?

• Keeping your household clean, especially when living with roommates in a college town, can become a real hassle if the work is not evenly split. My solution is an app that would coordinate chores and cleaning amongst a group of roommates through an algorithm that considers their preferences. This way, all roommates will have at least one chore to take turns doing, so all of the chores won't fall into one person's schedule. Furthermore, if you input specific preferences, the algorithm will try to prioritize chores you like (or don't hate) over ones you don't.

3. Who are you offering it to?

• I believe college students aged 18-24 would comprise the primary demographic of my target market. I say this, because college students are more than likely living with roommates, and there is a fairly high chance that these roommates are random. Random roommates are notorious for not caring what their other roommates think, which creates the problem I am trying to solve. I believe big cities with expensive rent would also fall under my target market, because people often split rent costs with their friends and family. Finally, the app could be used in family households with children or teens as a way to motivate them to keep up with their chores. This app would likely benefit a number of these people.

4. Why do they care?

• I believe the unique algorithm I plan to use within my app will make the difference between it being a free app versus a paid one. Through my research, there is no similar app that will take into account one's chore preferences and use this information to tailor them simple household chores. This shows that maids and cleaning services make up the majority of my competition, yet my service is a bit more unique since it requires the user's effort. I only plan on charging a one-time fee for the app, rather than a monthly bill, which would likely scare customers off.

5. What are your core competencies?

• The solution to my problem has never been tested before, meaning that if my app worked then I could expect my target market to assist in my marketing simply through word-of-mouth. Furthermore, during my time here at UF I have made connections with potential investors who likely also feel strongly about having a clean house. Lastly, I have a blog filled with research on how my opportunity might actually pan out in the market.

Evaluation

• I believe most of these elements fit together well enough for me to turn my opportunity into reality. Not only do I think my target market is substantial, but I also believe people would have a valid reason paying for my app, since it is such a unique service. I think the weakest aspect of my opportunity is the fact that it requires effort amongst an entire group of roommates; if people were not on-board with chores and housework before, why would an app change this? I still need to conduct plenty more research and hypotheses in order to establish my brand, but I am pretty confident that my idea could be successful in this day and age.

Feedback Memo

• I received a few comments on my previous idea napkin, and I tried my best to incorporate this feedback into this idea napkin. One of the main takeaways from my feedback was that I should keep my service how it is in terms of pricing: a one-time fee. The next main takeaway I got was that there is another part of my target market that would get great use out of my service: family households who are trying to teach their kids the value of chores and cleaning. I added this information into their respective parts of my napkin, where I agree that they belong.

18A - Create A Customer Avatar

Since my business idea is centered around a mobile application that coordinates cleaning efforts and chores amongst a group of roommates, I would categorize my target audience under college students. My customers must also have the desire for a cleaner home, so they likely have hobbies that require them to leave the house, such as sports or club meetings. Perhaps, some would also have hobbies that keep them in the house, such as video games; in my personal experience, these are one of the messiest types of people. My customer likely still drives their first car, which is probably a beginner-level car, such as a Honda, Toyota, Chevy, Hyundai, etc. With my knowledge and research of other college students, I would say that my prototypical customer uses a streaming service to watch TV, ranging from cartoons and sitcoms to reality TV and crime shows. For the most part, they are aged 18-24, and are still trying to figure out how to be an adult.

I have a ton in common with my target audience, since I am literally a part of it as a college student. I have the desire for a clean home, I still drive my first car, I have both indoor and outdoor hobbies, and I use the majority of streaming services out there! I basically got this information from my own and my friends' habits, which I know to be not only true but also widespread. I came up with my idea because it was a problem I recognized in my own household; therefore, I do not think it's a coincidence I share qualities with my target audience, because I am fully aware that I am essentially targeting myself and others like me.

17A - Elevator Pitch No. 2

Here is the link to my second elevator pitch:

• https://youtu.be/aA1AsjK8I5A
• I didn't receive feedback on my first elevator pitch, but I feel that I did a good job explaining what my product is, experimenting with tones based on what I was saying, using hand gestures, and making use of a proper conclusion. Also, sorry for my shrug at the end of the video; I messed up one little word at the very end.

16A - What’s Your Secret Sauce?

1. My Human Capital

• I have entrepreneurial experience through the sneaker business that I've explained in previous blog posts. To summarize, I try to get popular clothing/sneakers when they release before they quickly sell out. These popular items then go on to resell for prices higher than their retail cost. I have been doing this since 2012, and have since amassed an extensive collection as well as tons of 5-star feedback.
• I consider myself very approachable and neighborly all around. I don't like to spread hate or hold grudges, because one friendly conversation can make someone's day. I try to make use of this value on a daily basis.
• I have been told that I make some people feel safe and secure. Although I'm not quite sure the reason (I'm not a giant or anything), I like to think this quality can be used in a workplace effectively.
• Relative to my entrepreneurial experience, I consider myself a very good negotiator. There is a lot more psychology behind negotiating than one would think, so I think this skill is very useful in practice.
• Finally, I'd say that I'm a very outgoing and ambitious person. I hate leaving any minor or major chores at the back of my head, so I try my best to complete my daily routine and any other tasks as soon as possible.

2. Interviews

• Interview #1: Mom
• https://soundcloud.com/laslake/interview-1
• My mom explained some of the human capital I've gained through my sneaker business, as I mentioned in my first point.
• Interview #2: Cameron (Good Friend)
• https://soundcloud.com/laslake/interview-2
• Cameron also explained some of the skills and experience I've gained through my sneaker business, since he is a fellow entrepreneur. I have also made a number of transactions with him directly.
• Interview #3: Randell (Good Friend & Roommate)
• https://soundcloud.com/laslake/interview-3
• Randell brought up my organizational skills as well as my punctuality. Since he is my roommate, he sees how I handle my daily routine.
• Interview #4: Nolan (Good Friend & Roommate)
• https://soundcloud.com/laslake/interview-4
• Nolan is also my roommate, and funnily enough he used the exact word I used to describe myself: approachable. I think this is my favorite answer from all of my interviews.
• Interview #5: Todd (Good Friend)
• https://soundcloud.com/laslake/interview-5
• Todd mentioned my conversational skills, highlighting how I can keep any conversation going. This skill is mostly useful for everyday activities and keeping my friends entertained.

3. Reflection

• After conducting these brief interviews, I figured that a lot of the human capital I consider myself having is pretty apparent to people like my friends and family. A lot of the stuff I mentioned before the interviews was brought up directly or similarly when I asked these people who are close with me. Randell brought up my organizational skills, which I did not mention but I also humbly agree with what he had to say. I think my interviewees are definitely correct about me, because I view myself in a similar way. Going back to my original list, I'd probably replace the fifth point with my organizational skills, because this is something I highly prioritize; I just didn't think to add it at the time.

15A - Figuring Out Buyer Behavior No. 2

1. Interviews

• Zack, 21, UF Junior
• Nico, 22, UF Senior
• Rachel, 20, FSU Junior

2. Alternative Evaluation

• For this particular part of my interviews, I asked questions based on other services that would compete with mine in the real market. Figuring out what people within my segment thought of cleaning / maid services was my main focus here. I learned that Zack has never actually hired a maid for his apartment with 3 other roommates, yet he was pretty glad when I mentioned that it is not very expensive if split amongst 4 people. Nico has hired a maid for his house in Gainesville, where he lives with 1 other roommate. He does so on a monthly basis, so the costs definitely add up. Rachel lives in an apartment complex in Tallahassee with 3 other girls. She said that when it gets messy, she and her roommates would make a collective effort to clean up. She brushed off the idea of paying for a cleaning service.

3. How/where do they buy?

• Potential customers for my service are most likely to buy online, since the basis of my idea is a phone application. These customers would also likely search for alternatives online, where they can research and compare cleaning services based on prices, ratings, etc. Since the costs for both my service and alternatives are always a one-time service fee, customers are most likely to use cash, as opposed to financing. There is no B2B interaction for my service or others', so only the customer, our company, and our host platform are involved in the business decision. When I brought up my idea to Zack and Nico, they said it's definitely something they'd try to make a habit out of; they also agreed that a paywall would be smarter than incorporating ads into my application. Rachel was frank in telling me that it's not something she would try, but mostly because she already has a fair system amongst her roommates.

4. Post-Purchase Evaluation

• After purchasing a cleaning service, customers will likely take a detailed look around to see if the job was well-done. If they decide it was, they will feel that the money was well-spent, and they may even take further precautions to make sure that their home remains clean. If the job was not well-done (e.g. the customer can tell there are many missed spots that are still dirty), the customer will likely feel like the money was wasted, perhaps because they could've done a better job themself. As for my app, customers will feel it is well-worth the money if they can incorporate the service into their weekly routine.

5. Findings

• Since my service is fairly unique, there is not much competition to be considered in regards to cleaning services, since the overbearing majority either hire maids or clean up themselves. I learned that there are people in my target segment who do hire maids and also people who would not mind at all to split costs amongst their roommates for a cleaning service. I also learned how they weigh out whether or not the service was worth the money, and how my idea compares in terms of price, effort, and accuracy.

6. Conclusions

• This segment would highly consider my app over a cleaning service, primarily because of the difference in cost. They also don't see much of a problem paying for a maid service by splitting costs amongst their roommates in the first place. This shows that price is not a major factor in their purchase decision, because my app requires effort. For my idea to work, I will need to find an effective way to incorporate the app into the varying weekly routines of people in the segment.

14A - Halfway Reflection

1. Tenaciousness is a competency.

• Despite the lure of having no exams, this class requires a substantial amount of time and tenaciousness. Multiple weekly assignments and peer reviews often consume hours of your time, but there are ways to learn to enjoy it. If you go in with an open mind, especially with this class, you will notice that the collective lectures, assignments, and readings comprise valuable entrepreneurial guidance that is practical for real life. I sometimes find myself thinking, "This class can make me some money!"

2. Tenaciousness is also about attitude.

• I felt like giving up when the Bug List was assigned towards the beginning of the semester. The assignment was very tedious, and I thought that all upcoming assignments would reflect that. There was still time to drop the course, but I decided to persist after looking through the upcoming assignments and seeing how much freedom we have with our blogs. At this point, I enjoy doing most of the homework, because I am slowly building on this entrepreneurial opportunity, which simulates what I want to do after I graduate. I have definitely developed a tenacious attitude through this course, because I want to prove that there would be demand for my product.

3. Three tips.

• Stick to a schedule for when you complete the homework assignments and always make sure you declare your submissions. There are no exceptions for mistakes here.
• Don't be afraid to use constructive criticism in your blog comments. It helps you rethink your ideas about your own opportunity and provides an outside perspective on your peer's business decisions.
• When possible, try to choose topics that you have a genuine interest in. It makes the class more easygoing when you enjoy the work you're doing.

13A - Reading Reflection No. 1

1. I chose to read Walter Isaacson's Steve Jobs biography, because he was the entrepreneur I always looked up to while growing up. One thing that surprised me while reading the book was learning that Steve Jobs was a co-founder of Apple. Rumors told me Apple started and bloomed out of Steve Jobs' garage, so I have always thought he was the sole founder. I was also surprised to learn that he became a billionaire not directly from Apple's success but rather from an IPO with Pixar, which he owned an 80% share of. The quality I most admire about Steve Jobs was his extreme passion for his project; he would go to whatever lengths in order to match his ideas with his products. What I least admire about him was his nit-picky attitude; the book mentioned that Jobs had fired multiple co-workers over small mistakes and disagreements. Steve Jobs definitely encountered adversity during his entrepreneurial journey, such as when the company's sales started to decline after a falling out between Jobs and another head officer. He left Apple to pursue NeXT, which was subsequently bought out by Apple. Apple named him CEO once again, and he revitalized the company with his unique management style.

2. The main competencies of Steve Jobs I identified while reading this biography are his successful management skills, his ambition to bring his company from the ground up, and his eagerness to improve. From his own garage with fellow engineer Steve Wozniak, Steve Jobs turned his idea into the revolutionary technology we know and love today.

3. One part of the biography that confused me was Steve Jobs' affiliation with Pixar. There is a timeline showing many of the entrepreneurial decisions he had to make, describing that he became a billionaire from his ownership of Pixar. This was not something I knew about, and I'm having trouble finding why he would heavily associate himself with an entertainment company.

4. If I could ask Steve Jobs two questions, they'd be:

• If you could offer only one piece of advice to a striving entrepreneur, what would it be?
• What was your biggest regret during your entrepreneurial journey?

I would ask these questions, because together his answers would provide excellent advice on both motives to follow and precautions to take during my own entrepreneurial journey.

5. Based on my new knowledge of Steve Jobs and his aspirations, I would imagine he would say that hard work coincides with fun and satisfaction when you love your work. This is an opinion I totally agree with, because I often enjoy work when it resembles one of my hobbies or skills.

12A - Figuring Out Buyer Behavior No. 1

1. Segment

• College-aged students who must do chores and clean up after their roommates, who refuse to do the work themselves

2. Interviews

• Cameron, 21, FSU Senior
• Emma, 21, FSU Junior
• Ryan, 19, UF Sophomore

3. Need Awareness

• Although the people I interviewed all fit within my segment, they had some differing causes of need awareness. I learned from Cameron that his need for his roommates to help him with chores mostly only occurs on the weekends, when his roommates and their friends make a mess and leave it sitting there until Sunday. He sometimes cleans up after them, and he emphasized how much of a hassle this was. Emma fits within my segment, because she has one particular roommate who never cleans up after herself. Emma noted that she has told her to help with chores a number of times before, but the girl simply refuses to make an effort. Ryan considers himself a cleanly person, so when his roommates make a mess or refuse to help with household chores, he just does it himself. He stated he wishes they would clean up after themselves, but has since stopped asking for help since he realizes he is much more cleanly than most people.

4. Information Search

• All of my interviewees had told me that the first thing they do when this need occurs is ask their roommates (particularly the ones who caused the mess) to help clean up or stay on top of their household chores, such as taking out the trash. This answer varies further when looking in-depth into my interviews, because the roommates who are asked to help don't always contribute, even though some said they would. Frankly, them asking their roommates is the only reliable source for satisfying this need, other than a maid. Although none of them had previously used Google to satisfy this need, the key search terms I picked out from their hypothetical answers were "how to keep a clean house," "how to make sure roommates do chores," and "maids near me." They do talk to their families about their need, because the cleanliness of their homes concerns their loved ones, especially parents who are often paying the rent.

5. Research Findings

• From my interviews, I learned that there are varying causes for the need to maintain a clean house. This means that there are multiple reasons why people fit into my segment, so there are distinguishable psychographics of my target market. I also learned that not all college students with roommates have this need, because I had to call more than 3 people to get people who fit into my segment.

6. Conclusions

• My segment comprises college students who have roommates who either often or only sometimes leave a mess for someone else to clean up. The need is particularly present on weekends, when roommates have friends over who collectively make a mess. It is also very present in households in which one or two of the roommates are either too selfish or too lazy to do chores. The people who feel the need will likely ask the roommate(s) for help, but they are not always willing.

11A - Idea Napkin No. 1

1. You

• My name is Blake, and I consider myself to be a good negotiator, a quick learner, and knowledgeable in most markets. I believe I am an experienced entrepreneur for my age, because I have been running my sneaker business on the side for many years now. One day, I want to own my own successful business with a loyal client base. I hope this opportunity I have found will suffice, because it would be both fun and engaging to embark on this business through research, business decisions, sales, etc.

2. What are you offering to customers?

• In my previous post, I noted that I had discovered an opportunity and a potential solution to a common unmet need: clean households. My solution is an app that would evenly coordinate cleaning efforts amongst a group of roommates through an algorithm that considers their preferences. This way, all roommates will have at least one chore to take turns doing, so all of the chores won't fall into one person's schedule.

3. Who are you offering it to?

• I believe college students aged 18-26 would make up the primary demographic of my target market. I say this, because college students are more than likely living with roommate, and there is even a fairly high chance that these roommates are random. I believe big cities with expensive rent would also fall under my target market, because people often split rent costs with their friends and family. This app would also likely benefit a number of these people.

4. Why do they care?

• I believe the unique algorithm I plan to use within my app will make the difference between it being a free app versus a paid one. Through my research, there is no similar app that will take into account one's chore preferences and use this information to tailor them easy household work. Also, I only plan on charging a one-time fee for the app, rather than a monthly bill which would likely scare customers off.

5. What are your core competencies?

• The solution to my problem has never been tested before, meaning that if my app worked the word would spread around naturally. Furthermore, during my time here at UF I have made connections with potential investors who may also feel strongly about having a clean house. Lastly, I have a blog filled with research on how my opportunity might actually pan out in the market.

Evaluation

• I believe all of these elements fit together well enough for me to turn my opportunity into reality. Not only do I think my target market is substantial, but I also believe people would have a valid reason paying for my app, since it is such a unique service. I still need to conduct plenty more research and hypotheses in order to establish my brand, but I am confident that I would be successful in this day and age.

9A – Testing the Hypothesis, Part 2

1. Interviews
Interview #1: Nick, UF Junior

• Although Nick fits the profile of a consumer who I would generally target with my opportunity, he doesn't quite feel the need to have a system of keeping his household clean amongst his roommates. He says it's because his roommates are "on top of their things," meaning they already keep their home clean on a regular basis. He noted that all four of their individual  efforts make up the reason why his house remains clean. However, Nick has been in Gainesville for three years, and thus has seen many houses that are cluttered and dirty.

Interview #2: Joseph, FSU Senior

• I called Joey up for this interview, because I figured he lies outside the boundary of my opportunity. He has three roommates in his Tallahassee apartment, where cleanliness is simply not a priority. He told me that his stove had leftover food everywhere and that his kitchen sink was filled to the brim as we were speaking. Quite the opposite of Nick's home, Joey's apartment remains dirty, because nobody living there makes an effort to clean up after themselves. The main reason why he lies outside the boundary of my opportunity is because none of his roommates care to have a clean house.

Interview #3: Catherine, UF Grad Student

• Catherine is a grad student here at UF in the pharmacy school who lives with only one other roommate, her boyfriend. She doesn't seem to need a cleaning system in her apartment either, because she is "antsy about keeping the house clean." Her boyfriend is also busy as a pharmacy student, so she does most the cleaning and doesn't mind doing so. Catherine lies outside the boundary of my opportunity mainly because she finds satisfaction in keeping a clean house already.

Interview #4: Taylor, FSU Senior

• Taylor is a senior at FSU who lies outside of my boundary. She doesn't have a need to clean or to have a system in place for cleaning, because she lives in her sorority house where they have their own maid. She mentioned that most girls in the house clean up after themselves anyway by either putting their dishes in the dishwasher or taking out the trash when needed. She also said that their maid cleans on a daily basis, so the house is almost always spotless. The reason Taylor lies outside the boundary of my opportunity is that her rent costs include maid services, meaning she would not be a prototypical customer.

Interview #5: Alejandro, UF Senior

• Alejandro lives with three other roommates here in Gainesville. He said that he keeps a clean house by hiring a maid who he met through his occupation. She gives him a discount on her service, and he and his roommates split the cost evenly on a monthly basis. They avoid the hassle of weekly chores and cleaning by doing so, and this is why Alejandro could very well be in my target market yet outside the boundary of my opportunity.

2. Inside/Outside the Boundary

3. Summary

• I found out that while my target market is still fairly accurate, there are a number of exceptions. These people would likely see my advertisements or hear about my service, so this would be wasted marketing. I know that the number of exceptions is somewhat high, because it wasn't too hard to think of people I know for the interviews who lie outside of the boundary of my opportunity. Nevertheless, I still feel strongly that my idea would hold up in the market due to the continuous influx of college students who could make use of a digitalized cleaning system amongst their roommates. I believe this because it was even easier to find students who were inside the boundary for my previous interviews.

8A - Solving the Problem

1. Opportunity

• The opportunity I found in my previous blog post came from the issue of lazy people who don't contribute to household chores, leaving behind extra work for their roommates. This problem is inherently widespread, because the truth is some people are not as cleanly as others. Some people were also raised in such a way that they think, "if I don't do it, someone else will," and being on your own for the first time in college with this mentality is very problematic. The issue is very apparent in college towns populated by students, since very few can afford to live in a studio apartments. I feel it is also apparent nationwide in big cities, where high rent prices force people to room together to split costs. These are the people who will make up the main target market for my solution.

2. Solution

• In my interviews I asked people if they would consider an organized system of splitting up household chores amongst their roommates. My idea for a solution to the problem at hand will be a service in the form of a mobile application. My app will distribute chores amongst a set number of roommates based on an algorithm that is personalized by the group's preferences. Customers will input a chore list as well as their individual chore preferences, and then synchronize this information with that of their roommates. It will then evenly split up chores on a daily/weekly basis to best fit their preferences. It will also give the user a notification of his/her daily chore as well as his/her roommates daily chores. That way, others will know who needs to do what, in case someone ignores their chore. Since people might consider this app a hassle because it revolves around doing work, I will be sure to incorporate entertaining features, such as a "birthday chore pass" and a trendy design/aesthetic. The interface of the app will be a very simple calendar listing each roommate's daily chores, so it is streamlined for all potential users.

7A - Testing the Hypothesis, Part 1

1. Opportunity

• The opportunity I chose to pursue for this venture comes from my bug list. The issue at hand is lazy roommates who expect simple household chores, such as washing the dishes, taking out the trash, or sweeping the floors, to be done for them so long as they don't contribute long enough for someone else to do it. Since I am inherently more sanitary than a couple of my roommates, I am constantly picking up their wrappers, cleaning up after their messes, and so on. Since this is likely a common issue, I feel that there is an opportunity hidden behind it.

2. The Who, What, & Why

• The who of my opportunity are people who have roommates, whether they are friends or not. This means that college towns and big cities will be a huge part of the target market of my opportunity.
• The what of my opportunity is that sometimes roommates can be lazy in a number of ways when it comes to household chores, such as by piling dishes in the sink, ignoring an overflowing trash can, leaving wrappers behind, etc.
• The why of my opportunity is that those who ignore chores or even don't care to clean up after themselves are simply lazy. They likely either expect someone else will do it or don't mind living in filth.

3. Hypothesis

• Testing the Who: I know for a fact that there are plenty others with the same need to get rid of this issue. As I mentioned earlier, college towns are heavily populated by students, and only a small percentage live in studio apartments. Furthermore, big cities are also dense with friends, colleagues, families, and even acquaintances living with each other in order to split rent costs. That being said, most of my aforementioned "who" shares this exact need.
• Testing the What: Since I want to ask questions testing the boundaries of my opportunity in my interviews, I will dig deeper into which chores people do not mind, which ones people hate, and which ones people totally ignore. I will also ask questions pertaining to the solution I have in mind without actually revealing it. These questions will revolve around how my prototypical customers feel about sharing chores amongst their roommates.
• Testing the Why: I hypothesize that the why of my opportunity is fairly accurate for the majority of people with roommates. However, some people may be biased and say that their roommates are out to get them or possibly that they enjoy cleaning up.

4. Interviews
Interview #1: Robert, UF Senior

• Do you consider yourself a cleanly person?
• "I'm not a clean-freak like some people, but I make sure to clean up after my messes."
• What are some daily household chores that you don't mind doing?
• "I don't mind doing my laundry, because I usually listen to music to make it go by quicker. I also don't mind chores that go by quick like taking out the trash."
• Which chores do you hate finding yourself doing?
• "I hate cleaning because it takes a while, and half the time I clean the living room I realize 99% of what I'm cleaning up came from someone else."
• Are there any chores that you utterly ignore, praying that your roommates will eventually do them?
• "I don't necessarily ignore it as much as I forget, but I am very bad at refilling our Brita. I know because my roommate who bought it never forgets to let me know when I left it empty."
• Do you have some type of organized system amongst your roommates for doing chores? If not, would you consider it?
• "No, we don't, but I'd definitely consider it! The reason being that my roommates are the party-type, so our living room gets messy on the weekends."

Interview #2: Tim, UF Junior

• Do you consider yourself a cleanly person?
• "No."
• What are some daily household chores that you don't mind doing?
• "I don't mind taking out the trash, because it takes 2 seconds. Usually one of my roommates get to it before me, though."
• Which chores do you hate finding yourself doing?
• "I hate almost all chores, but mostly cleaning the dishes because we don't have a dishwasher, so sometimes I have to touch gross stuff that's been sitting there."
• Are there any chores that you utterly ignore, praying that your roommates will eventually do them?
• "Can I say doing the dishes again? Plates pile up in our sink, because my roommates and I are all messy people."
• Do you have some type of organized system amongst your roommates for doing chores? If not, would you consider it?
• "We don't, no, but I would definitely consider it, because our house is constantly cluttered."

Interview #3: Randell, UF Senior

• Do you consider yourself a cleanly person?
• "I want to say yes, but I'd probably be lying."
• What are some daily household chores that you don't mind doing?
• "I don't mind vacuuming my room or the living room. because it feels refreshing afterwards."
• Which chores do you hate finding yourself doing?
• "I hate doing my laundry and cleaning the kitchen and stove counter, because they are both long processes."
• Are there any chores that you utterly ignore, praying that your roommates will eventually do them?
• "I don't think I've taken the trash out all semester so far. Don't tell my roommates that. Usually when I see it's filled, I ignore it because my roommates are pretty good about doing that."
• Do you have some type of organized system amongst your roommates for doing chores? If not, would you consider it?
• "No, and I'm not the overly-clean type, so I probably wouldn't consider it."

Interview #4: Cassandra, UF Senior

• Do you consider yourself a cleanly person?
• "Yes, I definitely do."
• What are some daily household chores that you don't mind doing?
• "I don't mind doing the dishes, feeding my dog, laundry, or anything like that."
• Which chores do you hate finding yourself doing?
• "The one chore I hate is taking out the trash. We live in an apartment building, so we have to carry it down the hall to the trash chute."
• Are there any chores that you utterly ignore, praying that your roommates will eventually do them?
• "No, I'm a very sensible person, so taking care of myself and my belongings is a priority."
• Do you have some type of organized system amongst your roommates for doing chores? If not, would you consider it?
• "Yes, we actually do. We have a whiteboard in the kitchen for household chores, and we cycle our names through it weekly. It works really well."

Interview #5: Gabriel, UF Senior

• Do you consider yourself a cleanly person?
• "Yea, probably more than the average person."
• What are some daily household chores that you don't mind doing?
• "I don't mind running the dishwasher or cleaning, because it feels gratifying to have everything in the house be fresh."
• Which chores do you hate finding yourself doing?
• "I think I hate doing my laundry the most, but that's just because I don't like folding clothes and putting shirts on hangers."
• Are there any chores that you utterly ignore, praying that your roommates will eventually do them?
• "No, at least I don't think there are. It's rare for our house to be messy, and I've never heard a complaint about myself."
• Do you have some type of organized system amongst your roommates for doing chores? If not, would you consider it?
• "We don't have a system, but we're all pretty cleanly people overall. We just kind of randomly do what needs to be done, and it works for the most part. Because of that, I probably wouldn't consider a system for doing chores."

5. Summary

• I think my analysis of these interviews will definitely help me come up with an ideal solution to this problem. From these interviews, I clearly learned that there is a wide spectrum of people when it comes to overall sanitation. Some are cleanly with messy roommates, some are messy with cleanly roommates, and some households are just messy. Furthermore, some people hate chores that others don't mind doing, and vice-versa. Most of the people I interviewed answered that they would consider an organized system for doing chores, which is what I plan to create as a solution to this issue.

6A - Identifying Opportunities in Economic & Regulatory Trends

Economic Opportunity #1: Tesla stock experiences biggest stumble in 7 years

a) https://www.marketwatch.com/story/tesla-off-the-accelerator-as-stock-takes-worst-stumble-in-more
-than-6-years-2020-02-05

b) Tesla stock saw a meteoric rise over the past few days, but it was quickly followed by a near 15%

plummet as of today. I think this might be an opportunity, because the volatility of the stock can result

in quick gains, especially right now that the price is low, comparatively.

c) The most likely customers who have this opportunity are investors, brokers, and Tesla fans who know how to turn this opportunity into profit.

d) This opportunity is difficult to exploit, because no one would quit their job to pursue these volatile

gains, since the stock market is simply not a reliable source of income without an insane amount of

savings.

Why?) My recent research in the stock market led to me believing there is an opportunity behind

Tesla's current low stock price. Now that I will be graduating soon, I want to begin investing at an

intermediate level.

Economic Opportunity #2: Oil prices decrease amidst coronavirus outbreak

a) https://www.cnbc.com/2020/02/05/oil-prices-may-slide-further-amid-coronavirus-outbreak-

analyst.html

b) Oil prices are steadily decreasing in China as the coronavirus spreads, leading to an international

decline in oil prices. Frankly, I see this as an opportunity to fill up my car with gas at a cheaper price

than I can remember!

c) The most likely customers who would turn this opportunity into an advantage are people with cars,

motorcycles, and/or any other gas-powered vehicles. Amongst these drivers, people with long

commutes and yacht-owners would get the most use from this opportunity.

d) This opportunity is relatively difficult to exploit, because you would have to use your vehicle in

excess to truly take advantage of it. Furthermore, worldwide oil prices will slowly recover.

Why?) I recognized this opportunity, because I am a person with a weekly commute to class. I also
own a car as well as a scooter, so the opportunity for me is double that of the average person.

Regulatory Opportunity #1: The legalization of marijuana

a) http://www.drugpolicy.org/issues/marijuana-legalization-and-regulation

b) I believe there is an opportunity in this market, since it is constantly facing progressive regulatory
changes. In states that are pending legalization, there is huge untapped market space for companies
or entrepreneurs to delve into.

c) Growers, those already in the legal industry, and those who want to work in the industry are the
most likely customers for this opportunity.

d) Since the drug is not legal nationwide, it is very easy to exploit this market. People can simply go
to where it's legal and take it back to their home state where it's not. Even when it is nationally
legalized, the business is instinctively shady since it will always be recognized as a once-illegal drug.

Why?) Since the topic is on the news almost daily, I have always looked at the opportunity behind it.

I feel that most people who are watching are mostly interested in whether or not it will be nationally legalized and how that measures up with their morals.

Regulatory Opportunity #2: Statewide ban on texting while driving in Florida

a) https://www.jacksonville.com/news/20190507/floridas-new-texting-amp-driving-law-what-you-

need-to-know/3

b) I personally think there is an opportunity behind this regulation, because even nowadays I

regularly see drivers texting and driving. We need to make people more aware that there is a law
against it, perhaps through an advertising campaign that is run throughout Florida and sponsored by
local car companies.

c) The most likely customers of this opportunity would be people/companies in Florida who realize the
magnitude of this ongoing issue and who feel strongly enough to help in a campaign against it.

d) This opportunity is not easy to exploit, because it regards a campaign raising awareness of a

statewide ban. However, the opportunity to exploit this specific law is very easy, since all you have to
do is take out your phone while driving, which is often very tempting.

Why?) As opposed to anyone else, I saw this opportunity to create an ad campaign against texting and
driving not only because I am an advertising major, but also because I once did a project on the topic in
high school, before there was a law in effect.