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.