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.