30A- Final Reflection

The experience from this class that stands out most to me is the elevator pitch. I think this was the most valuable experience from this class because it helped me with my presentation and speaking skills. The most joyous experience was also the elevator pitch as I had fun making it with my friends. I would say I am most proud of my venture concept as I think it was well developed. I think throughout this course I developed an entrepreneur mindset. I would say I don see myself somewhat as an entrepreneur. I would recommend to other students to stick with the class, and do all your assignments. Think of this class as a way to improve your entrepreneur skills. Try to visualize your ventures as being something you will absolutely pursue, and that will help you to develop your entrepreneurial concept.

Venture Concept No. 2

Opportunity-

My opportunity tends to the needs of a variety of people as there potential car buyers.

The need may be out of necessity or rather luxury, but the need is very apparent.

The environment in which this opportunity exists is changing, and developing which could lead to a tremendous potential of growth.

The demographic is clearly all people looking for a car, so obviously the market is massive.
I would say though it is based a lot on the age and financial means of the buyer so there are some boundaries to the potential consumer biases.
All customers are looking for a car to buy and need to consider options and prices.
They may or may not have children which can affect their buying decisions, although there are car buyers of all ages.
The consumer of the opportunity could literally be anyone, as many people have the need for transportation, and saving money.
They realize the unmet need and have searched for the right solution, but have not found one.
I can can see that the need is present, and people are looking for an answer to the problem, making this opportunity huge.
The window of this opportunity may be open for some time, but the market is always changing.

Innovation-

My concept for the ever growing automotive industry is established on the idea of my company making money on the idea of saving car buyers money, because of this the only thing that is required is an experienced workforce.

We would have brokers for car buying, this is because many people do not know the value of different cars and often have a hard time negotiating price.

I intended to accomplish this by creating a website, and enlisting many avid car enthusiasts around the United States to become brokers, although first I would need to create a system for how much the brokers get paid per transaction, via car price and the amount of money saved.

I would also need a database for acceptable car values, and teach each broker how to handle the in person business.

So to make things clear I am selling the broker services, which would allow car buyers to have someone find the car of their choice and negotiate the price for the buyer.

The most vital part of this is the “car broker”, these brokers will aid in the effort to save car buyers money and find the right car based on the buyers need.

This concept is great because it creates a more personalized experience for car buyers. This service would assign a "car broker" to each client and they would assist them in finding the right car and negotiating the price for the buyer.

The service would consist of both online and in person help. The car buyer would pay a fee based on how difficult the car was to find/ price and how much money the broker saved the buyer.

For example the fee would vary base on car, so if an easy to find 1,000 dollar car was purchased through the service in which the buyer saved 200 the buyer would pay 5% of the money saved and 2.5% broker fee for finding the car.

This entices both the buyer and broker through saving and making money.A system would be designed for the "car brokers" and buyers to communicate their ideas to each other and, an effective way of allowing "car brokers" to negotiate prices dealerships and individual sellers.

This system would not be generic, but rather a more personalized experience for car shopping which sole purpose is to find the best car for the best price possible.

Other services currently available only give ca options with somewhat set prices.

A "car broker" can check various sources ask if there are any specifics the buyer wants, and then negotiate prices with dealerships or sellers.

Overall, these services help the car buyer with the difficulties they might otherwise face when trying to buy an automobile.

Venture Concept-

My venture concept is one that mainly focuses on the exact struggles the average car buyer faces, and tries to address them with the introduction of the “car broker.” The opportunity is there because of these struggles, customers will buy this service because of the ease associated with it, and the want to save money on an often very expensive purchase. Customers will switch to this product, because all similar business in the market focus on selling rather than saving money. It should be easy to switch since people often do not have a relationship with any specific way of buying a car, and the way of car buying has always been the same until recently. This implementation of the internet with car buying, allows for my concept to exist. The competitors are far and few, as the service is very unique, I could even suggest that competitors would become allies to increase sales. Customer support is the business itself, so it plays a massive role in the success of the business. Locations would only be an important part of the business if the service was not online as well. There is no physical product so many problems companies face regarding that will not exist. The most valuable part of the business will be the employees, which should be in surplus, and the business would be organized around making their part in the business as efficient as possible.The idea of the car brokers job being to save the car buyer money is the biggest advantage this service has over others.

Suggestions and Changes-

The majority of the feedback I received was very positive, however, I received more critical feedback from my whats next post so I incorporated that into my post. The comments suggested that I take things slow with the business, and try the different markets one at a time. So I implemented this into my venture concept. I changed my idea based on how I want to grow and develop my business. 

27A- Reading Reflection No.3

The main point of Innovation and Entrepreneurship by Peter Drucker is to focus on how entrepreneurs act and behave, the author tries to enact innovation and entrepreneurship as a practice. The author provides strategies for entrepreneurs and gives ideas of what entrepreneurship is. He focuses on how entrepreneurs can bring about change and what makes up a business enterprise. He list some different sources of innovation, such as changes in industry, knowledge, and perception. He gives some principles of innovation as well. Also including how to manage strategies in the entrepreneurs venture and gives rules that they should follow. Drucker believes that innovation and entrepreneurship is key to a successful society. I feel like the book directly connected with this class as it helps to provide skills and can teach young entrepreneurs how to properly approach a market with the hope of enacting innovation. The biggest surprise moment from the book was when Drucker said that an entrepreneur should make both innovation and entrepreneurship an everyday practice and that should be the norm. Overall, I thought Drucker gave some good tips on how to better your entrepreneurial practices.

28A- Your Exit Strategy

When thinking of my exit strategy, I often consider whether or not I will be truly invested in the business venture, and whether or not it is successful. I believe it would be hard for me to sell the business, due to my passion being automobiles, however I think I would either make the decision to sell the business after 5 years or keep the business till retirement. This is because I would sell the business for the right offer, or keep the business if very successful and I continue to enjoy my work. I don't see the business being passed down to family due to me not wanting to force anything. I don't believe my exit strategy has influenced my decisions for this concept as I did not necessarily create the concept with the exit strategy as a key influence. It did not change how I identified the opportunity also, because I based it off of my passion for automobiles. It has not influenced my intentions for growth either as I plan to grow the business based on the concepts I bring and the level of success, not what my end goal is.

26A-Celebrating Failure

This past semester I have been trying to be more healthy and physically fit, and in some regard I have failed. This is because I either have not been eating healthy or sometimes I have neglect going to the gym. However, I typically stick to a fairly good routine. From this failure I have learned how to be more discipline and have been trying to better myself. I learned a lot about myself as well, such as how I get past my desires not to do something, and at the very least try my hardest to stick to a schedule. This little journey of successes, but also failures has overall helped me grow as a person. My reflection on failure brings out the point that it often creates low points and makes one discouraged. Failure can be embarrassing and get you down, but it results in personal growth and eventually success. I believe this class has somewhat changed my perspective of failure, as I now think it is a vital part of success and I would be much more likely to take risks I wouldn't have otherwise.

25A- What's Next?

Existing Market-

In the future I see that we could go towards more specific shopping experiences, such as appealing to the collector market and or find rentals for production and so on. I see this as a big possibility for the future of the venture. I interviewed 3 potential customers who are part of the market I have already identified. I asked them what they thought could be the next thing for my venture, more specifically what should the business think about. One of them replied that we could potentially try to become partners with manufacturers. Another interviewee said that we should look into strengthening the businesses position in the market through advertisement. The third interviewee said that we should expand by directly purchasing the selling the cars. Next I asked them about my idea to move towards appealing to high end buyers, and or car rental service. They said it was a viable option for a move to growth, but does not lead to diversity in the venture.

The path for the future of this business venture include expanding the business to appeal to all the customers possible, including those who look for high end automobiles. This includes potentially adding a rental service. I do think that becoming involved with advertisement could be a strong move, but think that moving to selling cars is against the basis of the venture. I think that trying to become a venture which includes a lot of different business ideas could lead to growth.

New Market-

The new market will include this upper class citizen that is looking for the high end luxury automobile. While the old market focused on the general population. I think the venture could create tremendous amounts of value in the affluent market as high end and rare cars generate lots of money and attention. I interviewed two individuals which were potentially in the market for high end cars, and asked them if they thought the service would be of use and if they would change anything. They replied that they thought the service could be of use, but they said they would want everything to be in person.

This new market could bring a lot of growth to the business, although the market is smaller and it would be more costly to provide them with the same service overall. I was not to surprised at anything as I knew how the buyers in the market would act. Overall, I would say that the existing market is more valuable, but the new market has some advantages.

24A- Venture Concept No.1

UPrice Car Service

Opportunity-

My opportunity tends to the needs of a variety of people as there potential car buyers. The need may be out of necessity or rather luxury, but the need is very apparent. The environment in which this opportunity exists is changing, and developing which could lead to a tremendous potential of growth. The demographic is clearly all people looking for a car, so obviously the market is massive. I would say though it is based a lot on the age and financial means of the buyer so there are some boundaries to the potential consumer biases. All customers are looking for a car to buy and need to consider options and prices.They may or may not have children which can affect their buying decisions, although there are car buyers of all ages. The consumer of the opportunity could literally be anyone, as many people have the need for transportation, and saving money. They realize the unmet need and have searched for the right solution, but have not found one. I can can see that the need is present, and people are looking for an answer to the problem, making this opportunity huge. The window of this opportunity may be open for some time, but the market is always changing.

Innovation-

My concept for the ever growing automotive industry is established on the idea of my company making money on the idea of saving car buyers money, because of this the only thing that is required is an experienced workforce. We would have brokers for car buying, this is because many people do not know the value of different cars and often have a hard time negotiating price. I intended to accomplish this by creating a website, and enlisting many avid car enthusiasts around the United States to become brokers, although first I would need to create a system for how much the brokers get paid per transaction, via car price and the amount of money saved. I would also need a database for acceptable car values, and teach each broker how to handle the in person business. So to make things clear I am selling the broker services, which would allow car buyers to have someone find the car of their choice and negotiate the price for the buyer. The most vital part of this is the “car broker”, these brokers will aid in the effort to save car buyers money and find the right car based on the buyers need. This concept is great because it creates a more personalized experience for car buyers. This service would assign a "car broker" to each client and they would assist them in finding the right car and negotiating the price for the buyer. The service would consist of both online and in person help. The car buyer would pay a fee based on how difficult the car was to find/ price and how much money the broker saved the buyer. For example the fee would vary base on car, so if an easy to find 1,000 dollar car was purchased through the service in which the buyer saved 200 the buyer would pay 5% of the money saved and 2.5% broker fee for finding the car. This entices both the buyer and broker through saving and making money.A system would be designed for the "car brokers" and buyers to communicate their ideas to each other and, an effective way of allowing "car brokers" to negotiate prices dealerships and individual sellers. This system would not be generic, but rather a more personalized experience for car shopping which sole purpose is to find the best car for the best price possible. Other services currently available only give ca options with somewhat set prices. A "car broker" can check various sources ask if there are any specifics the buyer wants, and then negotiate prices with dealerships or sellers. Overall, these services help the car buyer with the difficulties they might otherwise face when trying to buy an automobile.

Venture Concept-

My venture concept is one that mainly focuses on the exact struggles the average car buyer faces, and tries to address them with the introduction of the “car broker.” The opportunity is there because of these struggles, customers will buy this service because of the ease associated with it, and the want to save money on an often very expensive purchase. Customers will switch to this product, because all similar business in the market focus on selling rather than saving money. It should be easy to switch since people often do not have a relationship with any specific way of buying a car, and the way of car buying has always been the same until recently. This implementation of the internet with car buying, allows for my concept to exist. The competitors ar far and few, as the service is very unique, I could even suggest that competitors would become allies to increase sales. Customer support is the business itself, so it plays a massive role in the success of the business. Locations would only be an important part of the business if the service was not online as well. There is no physical product so many problems companies face regarding that will not exist. The most valuable part of the business will be the employees, which should be in surplus, and the business would be organized around making their part in the business as efficient as possible.The idea of the car brokers job being to save the car buyer money is the biggest advantage this service has over others.

23A- Your Venture's Unfair Advantage

Venture Resources-

1. Have relationships with people in the automotive community in SWFL, that could lead to potential customers or investors. 
1.  This social capital is valuable because it creates a customer basis and the venture could potentially allocate funds through investors.
2. Our business will provide a more personalized experience for the car buyers.
1.  The more personalized experience for the car buyer will attract many people and is different from most car buying experiences which are lacking.  
3. I have a great understanding of the car market and the buyers within the market.
1. This understanding of the car market and the buyers within the market will help me be successful with helping the car brokers find a the car the buyer wants for a good price.
4. The idea takes little financial capital to start.
1. Because the main capital of the business in the individuals that will be the car brokers helping the customers, the venture takes little capital, but knowledgeable people.
5. The car market is ever growing and electric cars broadens the market, thus leading to growth in the ventures consumer basis.
1. A growing market is a great resource which will lead to growth, although other companies within the same market also have this resource.  
6. The implementation of the car broker idea, helps save money.
1. This is one of the key points of the business idea, in that the broker will be helping the customer find the right car, the right price. No companies to have a non biased salesman.  
7. I have good knowledge on a variety of automobiles, and how to properly price them.
1. This knowledge will help when establishing a database to use to price and find different automobiles.
8. The service is based on saving money for the customer.
1. This is very different from all other services in the market, because most services are based on selling the vehicle and making the most money.
9. I have friends that have learned how to web develop.
1. This will be a great social capital when trying to develop a database, or website.
10. The ability to establish links with established dealerships, to save money for the car buyer.
1. This could be great for the business because it will save buyers money while also making dealerships money because we buy from them.

The top resource is the fact that the service is biased on saving people money, this is very strong incentive for people to use the service, and the fact  the service overall will be personalized for each individual. This is the most unfair advantage this venture has against others.

22A- Elevator Pitch No. 3

Elevator Pitch- https://youtu.be/txNXpLgi7FU


There was not too much feedback, that I could go off of when changing my pitch, but I did go through and think about things that I could change to further develop my pitch and make it more concise. I tried to appear more confident and speak concisely.

21A- Reading Reflection No.2

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

1) What was the general theme or argument of the book?

The general theme of the book was that success does not come quickly, but rather after many failures. The main arguments of the book was that failure eventually leads to success and the author Scott Adams gives lessons and ideas to help you better your life and live a motivated life. Adams gives 3 main life lessons: goals have flaws so build systems to build you life around, work were you are comfortable with the risk, and find an "energy schedule." Adam's says that these will help on your journey for success which often takes time. 

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

I feel like the book connected with this class because it gives skills that as an entrepreneur you may want to know to enhance your skills. I think the life lessons that Adams add to the lessons associated with this class, and overall reading the book gave me new insight on ways to think. 

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

An exercise I could design for the class based on the book would include making a system, which differs from goals because timing is irrelevant and you can adjust your plans day to day. This would also include as way to find your energy to make sure you are energetic and motivated. 

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

Adam's explaining how goals are flawed surprised me the most, and the fact that many people don't succeed till later in life. Adam's explains that goals are inefficient because they are always in the future and too specific. 

19A- Idea Napkin No.2

I am Akash Kalra an aspiring entrepreneur, I have run few small businesses I have started and I am a student at the University of Florida. I am a car enthusiast and have a lot of experience within the car community. My aspirations for a business include the development of a system of brokers for car buying. I see this as a good opportunity because many people do not know the value of different cars and often have a hard time negotiating price.With this service, I am offering to the customer a more positive car buying experience by giving help to those looking to buy a car. This service would assign a "car broker" to each client and they would assist them in finding the right car and negotiating the price for the buyer. The service would be online and potentially in person. I could even be in similar formatting to an auction. The car buyer would pay a fee based on how difficult the car was to find/ price and how much money the broker saved the buyer. This helps the car buyer with the difficulties they might otherwise face. The unawareness of the the car buying market greatly adds to the support for this sort of service. It is clear that the customer is all people looking for a car, so obviously the market is massive. I would say though it is based a lot on the age and financial means of the buyer so there are some boundaries to the potential consumer biases. All customers are looking for a car to buy and need to consider options and prices. Customers care, because they want an easier shopping experience that is more personalized. They also could look forward to getting better prices with this service. A 2016 study showed that 87% of Americans dislike the car buying experience at a dealership. It also showed that 52% of car buyers bought from the dealership that gave the best experience over the best price. With the service I would be providing the consumer would get both a great experience and price.Although you may think this is similar to other ideas such as Car-max, the process will be different entirely. This business idea is different from nearly all other at the moment, because the system is not generic, but rather a more personalized experience for car shopping which sole purpose is to find the best car for the best price possible. Other services currently available only give ca options with somewhat set prices. A "car broker" can check various sources ask if there are any specifics the buyer wants, and then negotiate prices with dealerships or sellers.

I think my elements for the business idea fit together well, and that the idea has the potential to work smoothly. The need is unmet and the opportunity is very available as there is currently not a product or service the provides both the tools to find the right car and tools to get a good price. The biggest appeal to the idea is that the buyer is getting the car the want for a better price than they would have otherwise. 

Feedback memo- I took feedback from multiple post I had made on my idea, and incorporated it into my idea napkin. It was difficult to find things to include, as there were many positive comments and not too many criticisms or changes that were suggested. I included the fact that someone mentioned the unawareness of buyers looking at the car market, and also included different ideas on how to have the service provided to customers. I also tried to explain how the service is different from others and unique. 

17A- Elevator Pitch No.2

Elevator Pitch- https://youtu.be/dhkUw1NC0R4

Many of the feedback I received was positive and gave me some good ideas of information to include in my pitch. One of the comments I received, reminder me of the typical unawareness car buyers face and I included this.

18A- Customer Avatar

My customer base is very large, so when looking at the prototypical customers behavior there is a lot of variety. From previous interviews I have conducted throughout this course I have gathered much formation regarding my customer. Many people are all looking for a service that can provide them with help to get a good price for a car.They have searched for the right solution, but have not found one. Many of the people I consider to be customers have lots of different hobbies, but I will say the largest market may be the car enthusiast. So the main hobby in this case will be automobiles. The next question almost directly pertains to my category, that they typically drive rare, classic, exotic, luxury, or sports cars. They might watch shows regarding auto sports, or automobiles such as GrandTour or TopGear. They may or may not have children which can affect their buying decisions, although there are many car enthusiasts of all ages. The consumer of the product I propose could literally be anyone, as many people have the need for transportation, and saving money. I would say my avatar is how I see one of my customers to be, but the customer could be anyone. 

14A-Halfway Reflection

1) Throughout the duration of this course I have developed and used various behaviors to ensure I keep up with the requirements of this course. I have set a schedule of when I will do the assignments, and look at the assignments ahead of time to make sure I allocate appropriate time to complete the assignments. I would also have to say that throughout this course I have developed better skills regarding imagination, and problem solving, as this course often asks the question "why", "how", and "who". This course also helps to better develop skills associated with questioning, and thinking ahead. This course can make an individual more tenacious, not because of heavy work load, but rather the level of deeper thinking associated with the assignments.

2) To be frank I didn't want to put forth the effort of having to do the elevator pitch, but I did it mostly because of the grade. However, that "struggle" that I endured shows the tenacity that I have developed throughout my life and this course. I think that others comments is one thing that helps a person when contemplating whether or not to do an assignment, because of the amount of support others show towards your posts. So, overall I do think I have developed some amount of tenacity during the duration of this course thus far.

3) Three Tips:
     1) Make sure you give yourself aqueduct time to do the assignments, and thoroughly think about your posts and ideas. This is important because many posts are associated with one another.
     2) To develop a tenacious mindset for this course it is important to thoroughly think about the assignments. If the idea you have is an actual business/venture you might actually want to purse then the assignments don't become as much of a chore, but rather just part of your interest or hobby.
     3) Use the comments you get to better your opportunity. Often I realize that people's comments on my posts have good "criticisms" and suggestions to better develop the opportunity I have, and it makes the assignments less strenuous.

12A- Figuring Out Buyer Behaviour

To find out more on the buyer for my proposed business, I found three people to interview who said they had the unmet need. Each one had the need for the car buying service, but none had heard of the concept before.



Need Awareness and Information Search:



Interview 1:When asked at what time the need would be most present they said that it would be during the physical process of buying a car. When asked in what situation could they use this service, the interviewee said when they are newer to the car buying experience. When asked where he felt the need the most, they said when they are at the dealership. I asked if they have found any solution to the problem that I aimed to solve, and they replied that they often reference car buying sites, but that is only part of the need. When looking for information the individual said that they would look at Kelly Blue Book. Sometimes they ask friends and family for advice on buying a car.



Interview 2:When asked at what time the need would be most present they said that it would be during the search for the right car. When asked in what situation could they use this service, the interviewee said when they don't know the market. When asked where she felt the need the most, they said when they are looking at prices. I asked if they have found any solution to the problem that I aimed to solve, and they replied that they often ask family. When looking for information the individual said that they would look at cars.com .



Interview 3:When asked at what time the need would be most present they said that it would be during negotiating process. When asked in what situation could they use this service, the interviewee said when they don't want to get ripped off.  When asked where they felt the need the most, they said when they are at the dealership. I asked if they have found any solution to the problem that I aimed to solve, and they replied that they often try to buy cars online. When looking for information the individual said that they would look at eBay or Carmax. They normally do not ask others for car buying advice.



Summary and Conclusion: In summary the individuals I interviewed are all looking for a service that can provide them for help either to get a good price for a car, need a better service to find cars, or has difficulty when buying a car. They realize the unmet need and have searched for the right solution, but have not found one. From the interviews I can conclude that the need is present, and people are looking for an answer to the problem. With these problems in mind we can attempt to maximize the marketing efforts to get a strong base of consumers.

11A- Idea Napkin No. 1

1) I am Akash Kalra an aspiring entrepreneur, I have run few small businesses I have started and I am a student at the University of Florida. I am a car enthusiast and have a lot of experience within the car community. My aspirations for a business include the development of a system of brokers for car buying. I see this as a good opportunity because many people do not know the value of different cars and often have a hard time negotiating price.

2) With this service, I am offering to the customer a more positive car buying experience by giving help to those looking to buy a car. This service would assign a "car broker" to each client and they would assist them in finding the right car and negotiating the price for the buyer. The service would be online and potentially in person. The car buyer would pay a fee based on how difficult the car was to find/ price and how much money the broker saved the buyer. This helps the car buyer with the difficulties they might otherwise face.

3) It is clear that the customer is all people looking for a car, so obviously the market is massive. I would say though it is based a lot on the age and financial means of the buyer so there are some boundaries to the potential consumer biases. All customers are looking for a car to buy and need to consider options and prices.

4) Customers care, because they want an easier shopping experience that is more personalized. They also could look forward to getting better prices with this service. A 2016 study showed that 87% of Americans dislike the car buying experience at a dealership. It also showed that 52% of car buyers bought from the dealership that gave the best experience over the best price. With the service I would be providing the consumer would get both a great experience and price.

5) This business idea is different from nearly all other at the moment, because the system is not generic, but rather a more personalized experience for car shopping which sole purpose is to find the best car for the best price possible. Other services currently available only give ca options with somewhat set prices. A "car broker" can check various sources ask if there are any specifics the buyer wants, and then negotiate prices with dealerships or sellers.

I think my elements for the business idea fit together well, and that the idea has the potential to work smoothly. The need is unmet and the opportunity is very available as there is currently not a product or service the provides both the tools to find the right car and tools to get a good price. The biggest appeal to the idea is that the buyer is getting the car the want for a better price than they would have otherwise. 

10A- Elevator Pitch No.1

Transcript: Hello my name is Akash Kalra let me steal 90 seconds you'll never get back. So I have an opportunity for you that I know you will be interested in. I have a new concept for the ever growing automotive industry. with this idea my company will be making money on the idea of saving car buyers money, because of this the only thing that is required is an experienced workforce. this work force would be made up of what I call "car brokers." These brokers will aid in the effort to save car buyers money and find the right car based on the buyers need. This concept is great because it creates a more personalized experience for car buyers, versus the usual generic answers and suggestions other sites give you. With your funding we can start developing a website organized around the buyer, with all employees working for the buyer. We can start research into how develop a system for the "car brokers" and buyers to communicate their ideas to each other and, an effective way of allowing "car brokers" to negotiate prices dealerships and individual sellers. The biggest struggle I see for us would be getting skilled, and experienced employees. As well as the struggle to develop a database for automobiles for brokers to use, although we could use a 3rd party source. I will say I do not think having experienced employees would be too much of a problem however, because I have a strong understanding of the car community. So please consider investing in this venture as its better to have a car broker than a joker.

9A- Testing the Hypothesis Part 2

To reiterate my opportunity is that I would like to develop a system to have brokers for car buying. I see this as a good opportunity because many people do not know the value of different cars and often have a hard time negotiating price.

Who: I believe my opportunity is one that has great potential, because the car buying experience for many is confusing, and although there are other services out there to help with purchasing a car they all fall short with a generic fell, where as my opportunity would be more personal. Another part of my opportunity is the fact that the car buyers assigned "broker", would be responsible for negotiating the price of the car that the individual is interested in. Although there are some websites that find the best price for the car you may be searching for, my service would allow for not only the "broker" to suggest multiple price options, but also help with the negotiations of the car itself to get the buyer the best price possible.

What: My opportunity provides a service that would differ from all other car buying experiences, although it somewhat resembles a live car buying auction, it differs greatly due to the fact that the experience is more personal without the buyer actually having to be present. Also the "broker", could provide tools and knowledge that the consumer may not have access to regularly, either due to little knowledge about the industry or the limitations of the average car buyer.

Why: The needs of both the people inside and outside of the boundary is the same, although the limits on the boundary solely have to do with the age and financial means of  the individual. This is because not everyone is always in the market to purchase a car, however the market and consumer bases is very large and there is always a the unmet need for a better car buying experience.

Interviews: The majority of individuals I interviewed, were not interested in purchasing a car, however the this interview has some bias due to the interviewees being college students. Out of the 5 individuals i interviewed 4 of the 5 said they were not in the market for a car anytime soon, this made me realize that there are certain boundaries to my customer base, mainly age. Many people purchase a car either out of necessity or because they have the financial means to do so. I asked the participants if my opportunity had strengths that other established car related businesses did not. The responses showed that 3 of the 5 thought the idea of a "broker" was an important characteristic that distinguished my idea from others. I proceeded to ask if my need was the same or different from other needs commonly associated with car buying. All of the interviewees believed that the need for a car "broker", was somewhat a foreign concept they had not heard or thought of before. I concluded from this that the need differed from nearly all others in the car buying experience. I ended the interviews with asking, what each individual thought was the main factor that would make a consumer have the need or not. Many said that if you had no previous experiences buying a car then the need is there, but one individual said that the main factor in his decision to use the service would be price, and the quality of the experience.

               Inside the Boundary:                                                         Outside the Boundary:
Who: Anyone searching for a car                                               Anyone not searching for a car
What: Find the right car at a good price                 A listed directory of cars for sale, prices and values
Why: Those without car buying experience           Car salesmen, car enthusiasts*, shrewd negotiators

*Some ,but not all car enthusiasts may be against having assistance with their car buying experience.

8A-Solving The Problem

(1) The opportunity I would like to pursue is one that brings a way to have brokers for car buying, potentially through an app, this is because many people do not know the value of different cars and often have a hard time negotiating price.
(2) I intended to accomplish this by creating a website, and enlisting many avid car enthusiasts around the United States to become brokers, although first I would need to create a system for how much the brokers get paid per transaction, via car price and the amount of money saved. I would also need a database for acceptable car values, and teach each broker how to handle the in person business. So to make things clear I am selling the broker services, which would allow rare or exotic car buyers to have someone find the car of their choice and negotiate the price for the buyer. 

7A- Testing the Hypothesis

The opportunity I would like to pursue is one that brings a way to have brokers for car buying, potentially through an app, this is because many people do not know the value of different cars and often have a hard time negotiating price.

The who: Anyone wanting to buy a car.
The what: Car buyers often over pay for a car, or do not understand car values.
The why: A knowledgeable car broker would be able to negotiate the price for buyers.

Hypothesis: I believe many car buyers will want this service available to them, so they understand the value of the car they are considering buying and have the means to get a fair price. Although not everyone will need this service I believe there are many people willing to pay a "car broker" to get a better price. Often people think that car salesmen lead to them overpaying for a car, but I see it as car buyers not being very shrewd negotiators.

Interviews: From the interviews I have found varying information, but all promising for the opportunity to exist. I must give notice that all the interviews were men, so some bias may exist. I first began each interview by asking a hypothetical that stated: if you were searching the market for an automobile would you be willing to pay a car broker to assist you in finding a good deal and negotiating price? The majority of the people I interviewed said they would be willing to pay for a car broker, although one individual that was an avid car enthusiast said he would consider the idea, but he believed he had enough knowledge to find good prices. I followed up the question by asking what a fair percentage of the cars cost would you be willing to pay the broker. Many of the people had different values, and one gave me an idea all together. The answers to this question consisted of 3%, 2.5%, 3.5%, and 5%. One person said that the percentage should be based on the cost of the car and how much money the broker saved the buyer. Next, I asked the participants in the interview what they believed would be the best way to deliver the service to the customer. Many of the participants said that the initial parts of the service should be via website, while the actual buying of the car should be an in person service where you meet with a broker. The final question I posed to the participants was if the service should be for the average consumer of automobiles, or if it should be for rare or exotic cars. Three people said that the service should be for rare and exotic cars, while two of them believed that the service should be available for the average consumer.

I learned much about the opportunity I posed from the interviews, and even gained some insight to good ideas on how the opportunity may be done. Through the process of the interviews I learned that the opportunity still exists and that many think the opportunity has potential. I now know that the cost should be based on multiple factors, and that the market is more or less considered niche due to the participants saying that the idea is better for rare or exotic cars.

Opportunity Belief

I have a belief that the opportunity exists to create a product to counter the struggle of forgetting to charge your phone at night. There is an unmet need for a device to automatically charge your phone without plugging it in specifically when you forget to do so. Many people have this need as a majority of people in the United Sates have a cellular device now a days, and sometimes we forget to plug the phone into the charger. Whether we fall asleep with our phone, leave it else where in the house, or even if a charger is not accessible. Although this need is somewhat new, with the growing population of phone users the need is becoming greater. There are many different types of charges on the market today, such as wired, wireless, and even cases that charge your phone. I am fairly certain that this opportunity exists, although my idea involves implementing old technology with new ideas. That is having a phone case that charges via solar power, but automatically when the battery is low, the light conditions are dim, and the phone is not plugged in. The case would be charged via solar power throughout the day and the battery would only be used in these conditions, or unless otherwise turned on by the user. The prototypical customer is every phone user who has come across this problem, but I believe it is largely a problem for college students, those who have either stayed up late studying and pass out, or those who party hard and just forget to plug their phone in due to their circumstances.

Interviews:

Late-night studying student: The nature of the need for those who stay up late studying often include needing to charge their phone, but forgetting and not having enough time to charge it before class. They become aware of the need only after it has occurred multiple times, but it does not occur often. They have not thought about the need too much because they are fairly consistent in charging their phone, so they do not necessarily have the need. They first became aware of it when they feel asleep doing math homework while listening to music on their phone. They are not currently addressing the need, as the need arises only after they have found the problem that their phone is about to die or is already dead. They believe that the solution is a decent idea although the problem does not occur enough for them to consider the solution given.

Party student: The nature of the need for those who stay up late partying included wanting to have a charged phone for the day, but not having it charged when leaving the house. They become aware of the need when they wake up slightly inebriated, and their phone isn't charged. They have thought about it a few times the morning after, and the problem irritates them, but not enough for it to be a serious problem. They first became aware of it when they pass out after a long night and grab their phone in the morning to check the time.They do not address the need they just, "deal with it." They think the solution is a cool idea, but wonder how costly and effective it would be.

Average student: The nature of the need for those who are the average student is that sometimes the are watching YouTube or Netflix and fall asleep. They become aware of the need after it has happened a few times, but it only happens sometimes. They have not thought about the need because it is not a priority. They first became aware of it when they fell asleep with their phone. They do not address the need because it is difficult to predict the event. They believe that the solution would work, but it is not overly useful.

I would say that little of my original opportunity is still their because the need is not always apparent and the idea is only somewhat useful. Yes, I believe my new opportunity is more accurate than my original. I think entrepreneurs should adapt their opportunities based on customer feedback, because the opportunity for a product or business in only there if the customer has the need and thinks the product is worth buying.

My Entrepreneurship Story

My Story: My entrepreneurship story starts off in middle school, with my friends group. One of my good friends started making survival bracelets made out of para-cord and selling them to our other friends. I though this was a very good idea and thought I could make money off of the bracelets too if my friend taught me how to make them. So I asked my friend to teach me how to make the bracelets and ordered the materials online to start making them. My mom told me of a art show which people were selling numerous kinds of art, so with my new inventory of bracelets and money I had saved, I bought a booth to sell my survival bracelets. I offered custom color combinations, where I would make the bracelet for the customer at the booth and also sold the inventory I had already accumulated. I continued attending the event, buying materials with profits and making money. It was a great learning experience for middle school and built my understanding of business and sales. This was my first venture as an entrepreneur and in the end I had made a decent profit and learned how to start a small business.

Why I Enrolled: I enrolled in ENT 3003, because I want to learn the skills needed to start or run a business, I feel that it is important to know how businesses create products, find a customer basis, and how they efficiently sell the product, to produce steady revenue. 

Bug List

1. Forgetting to charge your phone before going to bed, then not having battery for the day.
1. This happens because I fall asleep while on my phone.
2. The amount of time it takes to get a machine at the gym.
1. This happens because I go to Southwest Rec which is typically congested, and I go at bad times.
3. The amount of time wasted waiting for public transit.
1. This happens because the bus driver are required to stop at each stop, and other people need picked up.
4. When a computer slows down due to build up of downloads.
1. This occurs because overtime, the build up of software on the computer slows the rates of applications starting.
5. Having to carry lots of groceries, but only wanting to make one trip.
1. This exists solely because I don't want to have to make multiple long trips to the car.
6. Needing to wash your laundry, but not wanting to use the gross laundry machines in dorms.
1. This occurs because many people use the laundry machines, and water sits in them over time.
7. Having to call customer service then being on the phone for 2 hours.
1. This exists because there are to many customer calls for all the employees to answer.
8. People being antisocial on their phone.
1. This exists because people are becoming addicted to their phones.
9. People who are on the phone when driving, and can not multitask.
1.  This occurs because people answer phone calls while driving and do not have hands free calling.
10. When a show goes to commercial right before a main part of the plot.
1. This occurs to hook the people watching to continue watching TV, including the commercials.
11. When people stop in the middle of a walking path and you are trying to get around them.
1. This is typically because people are looking at their phone and not paying any attention to their surroundings.
12. Driving slow in the fast lane on the highway, and not moving out of the way.
1. This typically occurs with out of state drivers or the elderly.
13. Getting to the dorm and having a full parking lot when there were spots when you left, only minutes before.
1. This happens because students are always out, but then there are not enough parking spots when I get back.
14. When internet connection is free, but when you connect the internet does not load.
1. This exists because you typically have to sign in over the internet after you connect to the "free" wifi.
15. When I text someone and it takes them a week to reply. 
1. This happens because people are busy and forget to text back until they look at their messages and realize they forgot to text back.
16. When people try to talk about a hobby you know a lot about, but they don't actually know what they are talking about.
1. This happens because they are trying to relate and impress you. 
17. Being really hungry, but can't find any food at the house to eat.
1. This happens when you forget to buy groceries.
18. Forgetting that you have an assignment due, and then realizing right before its due.
1. This exists because I get really busy and forget to look at assignment due dates.
19. People who can not park properly or do not correct their parking.
1. This typically occurs because people are too lazy to correct their parking so others can fit into spots.
20. Wanting to get food at chick-fil-a, but then seeing that their is a huge line.
1. This occurs because may students on campus have just gotten out of class and go to chick-fil-a at the hub to eat lunch.

Refection: I found this assignment somewhat difficult as it was hard to think of 20 things that "bugged" me and could be explained. To do this assignment I just thought of things that happen almost every day that sometimes irritate me. 

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