Assignment 28A

Your Exit Strategy

1.) My plan: I intend to keep my business and pursue marketing this innovative technology. I would like to launch this business and have a partner that is more intuitive when it comes to business. It would be great if one day my children were interested in taking over this business, it has great potential for helping others.
2.) Why I have selected this strategy: I believe in this business and I would have to find someone who is equally as passionate about this issue as I am for me to sell. I want this wheelchair ramp to make an impact in the world and I believe that if I am the person leading this movement, that it can succeed.
3.) My exit strategy's influence: I think that is why I have been able to complete assignments in such detail, because I knew that I was interested in pursuing this concept further. I believe that my exit strategy has influenced the identification of my concept because I knew that I had to pick an issue that I was passionate about and that I could see myself genuinely pursuing after the completion of this course.

Assignment 27A

Reading Reflection No. 3

Thinking Fast and Slow by Daniel Kahneman

• 1.) What was the general theme or argument of the book? Kahneman describes how the two systems in the brain are constantly fighting over control of behavior and actions. System One controls automatic and impulsive decisions while System Two controls conscious and considerate decisions. He also introduces the many ways that this constant battle leads to errors in memory and judgement. He concludes with how you can minimize these errors. 
• 2.) How did the book connect with and enhance what I am learning in ENT3003? For many assignments in this course, a great deal of thinking is required. Surface level evaluations are not enough to answer the questions that we are tasked with. Through learning about the two systems in my brain that are always fighting over control, I can better understand how this could cause errors in my judgement. After learning about this, I was able to slow down my thinking process and answer assignment questions in more detail throughout this course. My favorite quote from the book reads "Nothing in life is as important as you think it is, while you are thinking about it". This quote stuck out to me because in life and throughout this course, the swirling tornado of thoughts in my head seemed important while I was thinking about them. But as I started thinking about other things, the importance of previous thoughts dwindled. 
• 3.) If I had to design an exercise for this class, based on the book I read, what would this exercise involve? I would give the students a math problem and see how they answer it. Those that answered quickly most likely used System One to draw a quick conclusion. Those that took longer to answer most likely used System Two to answer. I would then explain to the students the difference between the two systems of the brain and how they affected their decision making. After explaining this, I would suggest a few strategies for knowing when to use System One and when to use System Two. 
• 4.) What was my biggest surprise or 'aha' moment while reading the book? What did I learn that differed from expectations? My biggest 'aha' moment was when I connected my way of thinking to this dual process way of thinking illustrated in this book. Often, when faced with a math problem, I reach an answer relatively quickly, but when I check my work later, I find that I got the wrong answer. My System One thought that it could handle problem but it needed System Two to help answer the question thoroughly. I thought that this book was just going to mention tips on how to slow down your brain. But instead, Kahneman described the background of our thinking habits and patterns to give the reader a better understanding of why we think and behave the way we do. 

Assignment 26A

Celebrating Failure

1.) A time that I failed this semester: This semester, I retook Introductory Chemistry because I had to drop it during the summer semester because I was struggling. I got a seventy-four on my first exam but I got a sixty on my second. This was a bit of a failure for me. After receiving this disappointing score, I swore to myself that I would do better on my last exam.
2.) What I learned: I learned that you have to consistently put in the work and study in order to succeed in a chemistry course. The coursework is rigorous, but it is only preparing me to do well on the final and to soar in additional science courses.
3.) Reflection: Failure is probably one of the most difficult emotions to handle. I hate feeling like I let anyone down or disappointed them in any way. Failure often makes me feel like I have let others down, but the worst part is feeling like I let myself down. I tend to be embarrassed and take failure to heart. When I am forced with dealing with rough emotions, I often cry. When I fail, I tend to have a catharsis and cry to make myself feel better. I used to think that failure was abnormal, but this class and college in general has helped me realize that failure is very normal. Throughout my life, I am going to fail constantly. The failure itself is disappointing, but it's all about how you rebound and continue to grow after that failure.

Assignment 25A

What's Next?

1.) What I think is next: The next step in furthering my business venture would be researching the cost of making this product and a facility.Testing a prototype of my wheelchair ramp is another crucial step as well. Also, talking to more business owners about their likelihood of purchasing my product would be helpful.
2.) Existing market interviews: I interviewed a local business owner, restaurant owner, and movie theater owner. They all agreed that my product sounds extremely innovative and that they would consider purchasing one for their business.They all agreed that I should be testing a prototype and researching a production facility. One business owner added that customers might expect other products like canes or walkers with an innovative twist.
3.) Path for the future: For growth to happen in my existing market, I need to target businesses that have wheelchair ramps and those that do not. By targeting both kinds of businesses, I have a larger target market and more opportunities for growth. I also need to design a working prototype and begin testing it for faults. Once this product is tested, I can begin making and selling the product. I would need to hire employees and find a production facility.
4.) New market: A radically different market to target would be rental apartments and rental homes. Installing wheelchair ramps in these homes could be extremely helpful to renters in wheelchairs.
5.) Creating value: This venture would create value because people in wheelchairs can now live in homes with stairs or a front porch because of the addition of this wheelchair ramp. The apartment communities or rental home companies can now rent to more individuals with this ramp installed.
6.) New market interviews: I interviewed two individuals who own apartment communities. They agreed that being able to have these ramps in their homes would increase their rental options because they can now accommodate those in wheelchairs. They both thought that I should market my product with the fact that my product can be hidden, stored easily, and works like a conveyor belt.
7.) Reflection: This market is not quite as attractive as my existing market. My aim is for businesses to accommodate those in wheelchairs. Apartments and homes are also extremely valuable markets to sell my product. The praise for my product was surprising. I was expecting these owners to be turned off by the investment required for my product. They were extremely receptive and would buy my product if I decided to move forward with this idea.

Assignment 24A

Venture Concept No. 1

Opportunity: 

• 3.6 million Americans use wheelchairs to assist with mobility but there is a serious lack of wheelchair accommodations(specifically ramps) among businesses.
• The forces behind the lack of wheelchair ramps is a lack of knowledge about the needs of those in wheelchairs. 
• Another force is the lack of care of some business owners. Many would rather turn away customers in wheelchairs rather than investing in ramps to accommodate them. 
• The market is extensive demographically and geographically. There is a wide range of businesses that attract different demographics and that are located all over the nation. The one thing these businesses have in common is their lack of wheelchair accommodations.
• There are many businesses that have proper wheelchair ramps, but there are also many that are not satisfying this need. Throughout interviews with business owners, I have discovered that business owners that have wheelchair ramps are not loyal to the companies they buy their ramps from. Overall, many business owners were interested in the design and function of the ramp that I strive to create.
• This opportunity is relatively large, there is a large population of Americans that use wheelchair ramps. 
• This window of opportunity will be open for as long as people utilize wheelchairs, which is indefinitely. 

Innovation: 

• I have developed a wheelchair ramp that can easily be hidden underneath carpet or tile. It also functions as a conveyor belt. 
• This will help wheelchair users feel more independent because they no longer have to rely on others to help them enter businesses.
• After a patron in a wheelchair presses a button, the wheelchair ramp will slowly extend out to them and they will wheel themselves onto the ramp. 
• The ramp will slowly raise a railing behind them that will be extensively safely checked. The ramp will slowly lift them into the business. 
• This innovation will be marketed to businesses that lack wheelchair ramps and will cost between $200 and $400 depending on the size of the ramp. 

Venture Concept:

• This wheelchair ramp will be an alternative to large or inconvenient wheelchair ramps. Businesses will therefore be more driven to install wheelchair ramps in their businesses to accommodate wheelchair users. 
• Customers will buy my innovation because it is convenient and will not damage their business. This product will also attract more customers, specifically those in wheelchairs. 
• Getting customers with wheelchair ramps to switch to my product may or may not be difficult. The innovation of my product could potentially convince them to switch and the price could as well. 
• Competitors are stores like Walgreen's or Lowe's. These stores have a vulnerability of not having a ramp that works like a conveyor belt. They also don't have a ramp that is small and easy to store. 
• Packaging, price points, distribution, and customer support play a large role in this company. 
• To support the ongoing production of this product, many employees and managers would be hired to run a distribution center to sell this product to customers.

Three Minor Concepts: 

• My venture's unfair advantage is my passion. I have a passion for helping others and this is where this business idea stemmed from. I want to make this world a better place and I believe that this ramp has the potential to help many people.
• I would love to tackle the problem of lack of handicapped bathrooms. In most restrooms in restaurants, there is one handicapped stall and people who are not handicapped often use this stall. I would love to develop a way to stop non-handicapped individuals from using this handicapped stall. 
• If I launched this business idea, I would want to have this product thriving in the next five years. As an entrepreneur, I would want to continue helping the handicapped community have more accommodations while also pursuing a career in nursing. 

Assignment 23A

Your Venture's Unfair Advantage

1.) Passion: My undeniable passion for helping others drives not only my business venture but my life. I enjoy seeing the smiles on the faces of others and understanding that I am one of the biggest reasons for that smile.

• Valuable: This quality is one of the most valuable in a business venture, being passionate helps me relate to other people and accurately depict my vision. 
• Rare: This quality is not necessarily rare. However, finding someone with a genuine passion without any stipulations or hidden motives can be rare. 
• Inimitable: This quality can easily be imitated but my passion comes from the heart and this cannot be completely imitated by any other business. 
• Non- substitutable: This quality cannot be replaced or substituted by any other quality. If you don't have passion, then leaders cannot voice their ideas effectively.

2.) Leadership skills: I have been the team captain or co-captain of many class presentations throughout high school and college. I have therefore learned how to lead a team effectively.

• Valuable: This skill is vitally important in appealing  to the masses and advertising any idea of business oppurtunity. Without the support of consumers, a business cannot succeed. 
• Rare: This skill is not necessarily rare. However, the act of being a leader with strong beliefs and a unique way of presenting them is extremely rare.
• Inimitable: This skill can be easily be imitated but my genuine leadership skills and care for others cannot be imitated. 
• Non- substitutable: This skill cannot be substituted by another quality, leadership is necessary in every business. 

3.) Public speaking skills: I took a public speaking course my freshman year that has helped me develop the skills necessary to deliver a speech to an audience.

• Valuable: This skill is very valuable in the marketplace.Anyone can have a good idea, but a business owner must be able to present their ideas. 
• Rare: This skill is not necessarily rare. Delivering a speech is not only about presenting your ideas, a presenter must be able to relate their idea to their audience.
• Inimitable: This skill can be easily imitated. However, every presenter has their own innovative way of portraying their ideas. 
• Non- substitutable: This skill cannot be replaced by another. Being a successful and confident public speaker is vital to launching and maintaining a business. 

4.) Self-confidence: Since starting school at the University of Florida, I have developed an undeniable confidence in my ideas and achievements.

• Valuable: This quality is one of the most valuable in a business venture, being self-confident in my business would help me sell it to consumers. 
• Rare: This quality is not necessarily rare. However, it took me nineteen years to become completely comfortable and confident in myself and my thoughts, which is an accomplishment within itself. 
• Inimitable: This quality can be imitated by others, I think that every person should develop a deeply-rooted love for themselves before they develop a business idea that they wish to sell. 
• Non- substitutable: This quality cannot be replaced with another. If the business owner is not completely confident in the potential of their venture, then consumers will not see this potential either. 

5.) Internship experience: I interned for about twelve weeks with a local health and wellness company. I got an in-depth look into the inner workings of a business.

• Valuable: This experience is extremely important for resumes which can help individuals get future jobs and make connections.
• Rare: This experience is not necessarily rare. Many individuals obtain internships throughout college. However, the lessons that someone learns during their time as an intern vary based on the person. 
• Inimitable: This experience can be imitated by others, but as I said, the lessons learned vary from person to person.
• Non- substitutable: This experience cannot be replaced with another. Being in an environment that challenges students to think in different ways is important to developing a well-rounded portfolio. 

6.) Organizational expertise: Ever since I can remember, I have been extremely organized.

• Valuable: This quality is valuable because of the moving parts that exist within a business. Without some sort of organization, these parts cannot move in harmony and the business cannot succeed in its mission. 
• Rare: This quality is not necessarily rare. Many people are organized and keep calendars or planners of their schedules.
• Inimitable: This quality can be imitated by others but each person organizes the pieces of their life in different ways. 
• Non- substitutable: This quality cannot be replaced, every powerful business has some level of organization.

7.) Connections: I have talked to many different individuals with backgrounds in varying sectors of the wheelchair accommodation business market. As a result, I have made many connections. 

• Valuable: This experience is one of the most valuable in a business venture. I have made connections that could further help my business succeed down the line.  
• Rare: This experience is not necessarily rare. Many students have relationships with those already in the industry. My connections are unique to my potential business venture.  
• Inimitable: This experience can be imitated by others but the relationship that one person has with someone is always different than someone else's relationship with the same person.
• Non- substitutable: This experience cannot be replaced, these relationships help business owners connect with other people. Often, it's not about what you know, but who you know.

8.) First-hand experience: My boyfriend's sister is paralyzed from the waist down and requires a wheelchair to assist with mobility. She is a great resource to run ideas by for the development of my product.

• Valuable: This experience is extremely crucial to the development of a wheelchair ramp that can actually assist those in the wheelchair community. 
• Rare: This experience is rare. Many business owners brainstorm ideas for their business ventures with no background knowledge or buyer contact.
• Inimitable: This experience can be imitated, but much like connections made throughout the industry, many first-hand experiences are unique to the people involved.
• Non- substitutable: This experience cannot be replaced by another, the person that helps you come up with different ways to solve a particular problem is crucial to a business.

9.) Fundraising Experience: I am a fundraiser for Dance Marathon at UF which is an organization that benefits sick children in the Gainesville area.

• Valuable: This experience is very valuable and would be useful when I would need to generate money to launch my business venture.
• Rare: This experience is not very rare. Many students have fundraising experience through different organizations. I have developed tips that are rare in comparison to others.
• Inimitable: This experience can be imitated by others but my fundraising tips and tricks are different than that of other students. 
• Non- substitutable: This experience cannot be replaced, the act of raising funds to benefit an organization is one that helps build character. 

10.) Lack of competitiors: There are no leading brands that have developed a wheelchair ramp that is structured like a conveyor belt and can be hidden underneath carpet or tile.

• Valuable: This quality is very valuable. Without a large amount of competition, my product could flourish.
• Rare: This quality is rare. In many businesses, there is a wealth of competitors that act as barriers for start-up businesses.
• Inimitable: This quality can be imitated by others, but a lack of viable competitors is rare.
• Non- substitutable: This quality cannot be replaced by another, having no competition is the dream for many businesses. 

After completing this assignment, I decided that passion is the most important resource of my business. Without passion, there is no vision. While other companies can develop a similar product, I will always win with my passion for helping others and my drive to make this world a better place. 

Assignment 22A

Elevator Pitch No. 3

1.) Link to video: https://www.youtube.com/watch?v=75W9qdPWAMo

Script

In the year 2013, 3.6 million Americans relied on wheelchairs to assist with mobility. So wheelchairs are everywhere around us and many people use them to help them in their daily lives. But many restaurants and businesses lack accommodations that help these patrons even get into their establishments. Yet public transportation is crawling with wheelchair ramps and accommodations. Ninety-eight percent of public transportation buses have wheelchair accommodations. So, why did these buses have these accommodations but restaurants and businesses neglect to even think about putting them into their restaurants and businesses? That was my question. So, I created an innovative wheelchair ramp that is structured like a conveyor belt.The ramp lifts the patron into the restaurant and makes them feel more independent. They feel more independent because they don't have to have someone push them up a ramp. The ramp can be easily hidden underneath carpet or tile so that it doesn't damage any part of the restaurant or business it is placed in. Once a patron hits a button, the wheelchair ramp will slowly extend down to them and they can wheel themselves initially onto it while it's flat. And then the wheelchair ramp will slowly raise a railing behind it. This part will be extensively checked so that people will not get injured when they're trying to enter this restaurant or business. The wheelchair ramp will slowly move them up into the business. It is like a conveyor belt and it will relieve a little bit of stress for people that help people in wheelchairs move from place to place. These people don't have to push them anymore and it will also make people in wheelchairs feel a bit more independent.

2.) Reflection based on feedback: I received very positive feedback on my second elevator pitch. My classmates were impressed with my confidence and my pace. They also stated that they admired my devotion to solving the issue of lack of wheelchair accommodations. 

3.) What I changed, based on feedback: Overall, I tried to mimic my confidence and pace from my last elevator pitch.  I also tried to include the same amount of information as my other pitches.

Assignment 21A

Reading Reflection No. 2

How to Fail at Almost Everything and Still Win Big by Scott Adams

• 1.) What was the general theme or argument of the book? Adams vividly discusses the elements that make up his life. He shares how he learned how to take care of himself from loss to loss until he eventually won big. A quote that excellently sums up the memoir reads, "The most important form of selfishness involves spending time on your fitness, eating right, pursuing your career, and still spending time with your family and friends." He reiterates this theme of taking care of yourself throughout the memoir. 
• 2.) How did the book connect with and enhance what I am learning in ENT3003? Scott Adams invented the Dilbert office cartoon that is now known all around the world. This is known as his "big success". However, he encountered many failures that led to his success. He touches on how he kept himself motivated, healthy, and happy while racking up all the failures that led to his success. Throughout this course, there were many ideas for my product venture that were failures and I had to move on from them. This memoir illustrated that there is no time limit on success and that you must fail before you can truly succeed. In this course, I have learned how to think and act like an entrepreneur. This depiction of Adams' life further enhanced my experience by showing that living the entrepreneur dream is possible with a little failure along the way. This book enhanced and provided a real-world example of how staying positive and persevering can help you reach success. 
• 3.) If I had to design an exercise for this class, based on the book I read, what would this exercise involve? If I had to design an exercise centered around this book, I would design an exercise that focuses on failure. I would ask my students to write down every failure that they have had in their life, no matter how big or small. Then I would ask them to write down a possible reason behind this failure. I would then ask them to write down their successes thus far and reasons for those successes. Then, I would ask them to compare the failures and successes and see if many of their failures led to later successes. 
• 4.) What was my biggest surprise or 'aha' moment while reading the book? What did I learn that differed from expectations? The biggest lesson I learned was from a piece of advice that Adams shared with readers. He talked about how he preferred systems over goals. A system is going from job to job and always trying to find something better. Goals are more specific and they are always in the future. I was surprised at how differently I started thinking when I started living in the moment rather than chasing far-away goals. Goals are still important, but thinking about them on a smaller and less-specific scale is a key to long-term success. I expected this book to chronicle every failure that Adams experienced and how they led to his success. The memoir was much more vivid and included tips on how to remain successful by taking care of yourself. 

Assignment 20A

Growing Your Social Capital

1.) Domain Expert

• Who they are and their background: I interviewed an individual that owns a medical equipment business. Wheelchair ramps are categorized as an accommodations for those who must travel in wheelchairs. This business owner has a family member that is paralyzed from the waist down and uses a wheelchair. This inspired them to create their own medical equipment business that provides these supplies to those in need for a cheaper price. 
• What makes them an expert: This person has opened multiple stores and dedicated a great deal of their time to researching possible equipment that would benefit those with disabilities. 
• How I found this person: I searched medical equipment communities on google and chose one with significantly lower prices than the others. 
• Nature of exchange: I emailed the owner and we talked on the phone. I asked this person if they could describe the inspiration behind their business venture and if they could listen to my pitch for my own business. In return, I was able to provide a different point of view towards her business. I also gave her a few suggestions for products for her store. 
• How this person will enhance my ability to exploit an opportunity: She will help me network and meet new people with a similar vision for their present and future businesses. 

2.) Market Expert

• Who they are and their background: I interviewed an individual who sells colostomy products for individuals with wheelchairs. Many people confined to wheelchairs because of paralysis use colostomy bags to help themselves use the bathroom. This individual decided to specialize in colostomy products with the aim of enhancing the lives of those in wheelchairs. Their goal of helping others is the link between their business idea and my own.
• What makes them an expert: The man that I interviewed is extremely well-versed in multiple kinds of products designed for those with physical disabilities. 
• How I found this person: They sell medical supplies locally. I visited their small store in my hometown.  
• Nature of exchange: While visiting their store, I explained my vision for my business venture and received feedback. I also suggested how he could expand his business or partner with a business like mine to better help individuals with wheelchairs. 
• How this person will enhance my ability to exploit an opportunity: Through meeting this market expert, I established a contact that could potentially help me establish more in the future.

3.) Industry Supplier

• Who they are and their background: I interviewed an individual who works in a metal factory. They have worked in this factory for over ten years and know the industries that utilize the metal they produce on a daily basis. 
• What makes them an expert: They make the metal that is often used to build wheelchair ramps and other medical equipment. 
• How I found this person: I contacted a local metal factory and asked if I could interview a worker about their knowledge of the metal they produce. 
• Nature of exchange: I interviewed a worker to get more information and in return, I helped them understand their contribution to helping those with disabilities by producing metal. 
• How this person will enhance my ability to exploit an opportunity: The worker and the metal factory are now an important contact and liaison for any future business opportunity. 

4.) Reflection: This experience further pushed me out of my comfort zone and talk to people that I wouldn't normally target. This networking experience was very different from previous ones. Networking experiences in the past were very relaxed but this one had a specific goal and purpose. For future networking experiences, I will have a targeted goal and purpose for every connection that I establish.  

Assignment 19A

Idea Napkin No. 2

1.) You: My name is Autumn Farmer and I am a sophomore here at UF. I am pursuing a Biology major and an Innovation minor. I am specializing in Natural Science with the hopes of becoming a nurse. I am an Innovation Academy ambassador which means that I get to act as the liaison between newly admitted students and parent and the Innovation Academy. I am also a dancer for Dance Marathon at UF. DM at UF is a fundraising organization on campus with all proceeds going directly to the patients at UF Health Shands Children's Hospital. I have a passion for helping others and my product stems from this passion. I have seen the lack of wheelchair accessibility and my desire to help was unleashed. This product would help me achieve my goal of helping others as a result. I have dreams of pursuing a career in the medical field and this product is intertwined with that dream.

2.) What I'm offering to customers: My product is a wheelchair ramp that functions as a conveyor belt and can be easily hidden underneath carpeting or tiling in any business. The ramp is small and portable for easy travel. This product will solve the issue of a lack of wheelchair accessible throughout businesses and help harvest independence for wheelchair users.
3.) Who am I offering it to: My customers all have a lack of wheelchair accessibility in common. This product would be offered to businesses that do not have wheelchair access for their customers. These businesses would specifically have steps that are difficult or impossible for wheelchair users to conquer, thus establishing a need for an innovative wheelchair ramp. The demographic characteristics of my customers varies among all ages, races, and genders.
4.) Why do they care?: My customers will only care about the product if they have empathy for those in wheelchairs. Wheelchair users will care about this product but my target market is businesses that lack wheelchair accommodations. To make these businesses care, I need to reiterate that by adding this wheelchair ramp, they will have an increase in customers and therefore an increase in profits.
5.) What are my core competencies?: This wheelchair ramp functions as a conveyor belt which I have never seen in a wheelchair ramp. It can also be easily hidden and therefore is not bulky and taking up extra space. Business owners can purchase a ramp relatively easily to further meet their customers' needs.
6.) How my elements fit together: I believe that for the most part, the elements of my business plan work together. I think that my passion for helping others carries through all aspects of my business and could help contribute to its' success. I believe that the only outlier of this plan is convincing businesses that lack wheelchair access that they should make the necessary accommodations. Convincing these businesses to make a change might be the most difficult facet of making my business a successful one.
7.) Feedback memo: Two of my classes gave me helpful feedback and praise. One student mentioned that he loved how small and convenient my product is, I incorporated this detail into the description of what I am offering to customers. Another student mentioned that he could sense my passion for helping others through my involvements. This bit of feedback was very much appreciated and I added more justification as to why I love helping others and how my passion connects to my business.