Your Exit Strategy

1. Because of the fact that I am providing an initiative, I think it's very difficult to develop an exit strategy. Generally, I see an exit strategy if you are developing a product versus an initiative or a service. I do not intend to sell the business concept after five years because it will be part of the state government laws and proposals. When building an initiative I don't think that I will keep the legacy of the concept in the family for several decades but it will definitely go down in history as a reform to the current college/university system in the United States. Personally, as a future legislator who wants to reform a bunch Of state and national policies and laws, it is not possible to pass that down to your family unless they want to pursue a career in politics as well and in that case, you can provide guidance and awareness. 

2. My exit strategy would have to be if I decide to retire or do not work for the government any more in building reform. That would be my only option compared to that of the CEO of a company who could step down from the position and pass the Position to someone else either in their family or in their immediate circle. I think for an initiative that is extremely difficult and I don't think it is even possible. This exit strategy would be my only choice and that's sad to hear but if that's what is possible then that is what I have to do. 

3. Generally, I don't think this exit strategy has influenced any of the other factors in my business concept. I just think that it has definitely limited its ability to be substituted by another option. Using the concept that Professor Pryor taught us about the VRIN analysis, it really helps with any kind of business concept no matter though if it may be a product, service, or/and idea. I mentioned in a previous post but I plan to start in the county and maybe expand statewide and if it goes further we can even go nationwide in this concept of receiving a college degree can provide a lot of opportunity to many to pursue their dreams. The mission of this initiative is to reduce the amount of student loan debt in this country first in foremost. 

Reading Reflection No.3

1. The theme of the book is how to craft a social media page that will help the person to want to learn more about you on the page and even on a deeper personal level. 

2. As an upcoming entrepreneur, it is essential to understand the power that social media possess in the transactional and globalizing world. Kawasaki really informs the reader of how your social media presence Should be catered around your target audience just as a product or service would be. So, for example, Kawasaki uses the fact that If your account is promoting Androids, the best type of information to post on that page would be things that would apply to Android users because that's how you can gather enough following and wouldn't need to rely on other factors. He says, "Success favors the bold as well as the interesting on social media, so don't hesitate to express your feelings and agenda" (Kawasaki, 67). Many people are often afraid to express feelings on social media, and the author makes the point that to not be scared because the goal of social media is to promote outreach and a following and to gather narrow interests and not please everyone. 

3. After reading this book, I think an exercise that I would include in this course is to "Reach out, and Cold Call 3 People on LinkedIn" and see if they would be willing to perform an Informational Interview to build social capital. I know it can be terrifying to complete an Informational Interview, which I understand entirely. Still, I think that that fear only prohibits us from reaching a growth mindset, as Dweck says. Personally, I believe that learning from other people's mistakes is the best way to avoid making your own. Still, you know every situation and every person is different, so I think that hearing from other people's experiences could maybe help one grow further as an entrepreneur. Especially if you make an effort to seek someone out, I think it exerts a massive amount of confidence and assertiveness that you want to get where they are. A lot of these professionals like to talk to about themselves, so seeking them out on their expertise is a great way to build a relationship with someone. Social Media makes the world feel so much smaller. 

4. People often use social media as a source to produce contrary word-of-mouth about a product, service, or/and idea. I think that it is essential to understand that you're allowed as an entrepreneur to delete those posts that prevent new viewers from coming to your page to seek the guidance that they may need. Guy Kawasaki says as an entrepreneur, you do not have the moral obligation to respond to everyone's comments, and you don't have to owe them a response. And personally, I found this extremely helpful because I am the type of person to let what other people say affect me. I think that he really just set it out and said, don't let that get to you because whatever you say back to them only pushes you lower than them. 

What’s Next?

Existing Market

1. Katelin Dang: a 17-year-old incoming high school senior looking to pursue the different options available for her college. 

2. Dominic Mellone: a 17-year-old incoming high school senior looking to pursue opportunities either out-of-state or maybe even considering studying internationally. 

3. Gabriella Aulisio: a 17-year-old incoming high school senior who is looking at a variety of schools that offer scholarships for soccer. 

    Personally, I believe that because a lot of my existing market, in this case, would be U.S citizen high school seniors, it would be critical to include testimonials or quotes of these high school seniors' concerns in my pitch. These testimonials and quotes can provide insight to the state government officials that these are widespread concerns that many of the students face. Incoming high school seniors can help in creating a way to promote the initiative as well as gathering support from their classmates. 

    I know that Gabriella Aulisio goes to a small school in Oak Hall in Gainesville, and by gathering the support of the kids in her class as well as maybe their parents can be extremely beneficial. Dominic Malone goes to a school in downtown Orlando, and I think that downtown is very close to where the action happens for Orange County. I believe that starting small is extremely important before we decide to expand to Alachua County and even the entire state. I know that Katelin Dang goes to Lake Nona high school, and that was the high school that I graduated from, so she knows a lot of people who can help provide awareness in the Student Government. Knowing the fact that there is a state representative in almost every single district really helps in trying to seek recognition in the matter. With that being said, I think that Rep. Anna Eskamani would be in full accordance with this matter. 

New Market

The primary purpose why I am bringing up this initiative is that there are a lot of limitations to receive specific funding from the government. Under the Bright Future scholarship, it requires you to be a U.S. citizen who would mean that many people in Florida would not be eligible to obtain the bright future award strictly because of their immigrant status and not their academic ability. Looking at the eligibility requirements, it says that a person can qualify for Bright futures if they're an eligible noncitizen. Personally, I have no idea what that means. Does that mean that they need to have a work visa I need to hear more information to see how this works? If this is confusing to me as a U.S. citizen, imagine a person who has never set foot to the United States and is considering moving due to a better opportunity. With this being said, I wouldn't know what that opportunity is and what is required just by using the word "eligible noncitizen". The Florida residence educational initiatives will bridge the gap between the limitations that the Bright Futures Scholarship has. The 12 public universities in the state of Florida receive a lot of funding from the state governments because they are funded by the state, and I think that my initiative has a great opportunity in these institutions because of the amount of money that is provided to them. 

Danna Ferrer: a 19-year-old college student isn't eligible for Bright Futures because she isn't a U.S. citizen yet. 

Manuel Delgado: a 19-year-old college student isn't eligible for Bright Futures because he isn't a U.S. citizen yet but But will have to pay Florida Residency tuition and fees price.

My initiative has provided the fact that it will help all Florida residence no matter if they are U.S. citizens or not, and I think that generally sets me apart from Bright Futures, who only look at candidates who are U.S. citizens eligible. The Florida Residence Educational Initiative looks beyond the citizenship status of incoming U.S. immigrants. Still, it looks at providing the ability to have a college education without the threat of student loan debt for all students seeking a Bachelor's Degree. Maybe offering a pathway for citizenship by the time they graduate from a four-year institution could be extremely beneficial to receive U.S. citizen benefits. What has surprised me most about this new market is that a lot of the times, these are Venezuelans who are moving to Florida to pursue a better opportunity pay for everything in cash because in Venezuela it is challenging to qualify for the credit, which is a different appeal to that of Americans. Americans are very used to paying for items with credit cards debit cards etc. and Venezuelans and people from other countries, in general, are very used to paying things with cash. Because of the various interactions that I've had with Venezuelans at my high school, I think it was very expected that this was a common theme that I traced with speaking with all of them. Many of them are looking to seek professional degrees in this country. This market has a lot of potentials, but I need to work harder to obtain support from their families as well as those in the existing market. As an incoming entrepreneur, I think it's essential to have that growth mindset that are potential is it limited by factors. It's actually unlimited. 

Venture Concept Florida Residence Educational Initiative

Opportunity.

The opportunity that I have identified is a way for Florida residents to attend state-universities. The potential customers would be incoming high school seniors as well as state government officials. The nature of need is the fact that the state governments fund these state universities, and they can't provide enough funding to everyone to receive a college education. I am looking to see if some of the Florida taxpayer dollars can go into funding future college students' learning. Because a college education is now seen as an expectation rather than a luxury, I believe that this is a significant force that creates this opportunity for many who can't afford to go to college have at least the ability to obtain a college education. I believe that this country has a lot of ignorance regarding specific issues, and I think a college education could help and combat that ignorance. This market is defined geographically as in the state of Florida and demographically from all kinds of backgrounds. Customers currently satisfy this need utilizing the Bright Futures scholarship provided by the Florida lottery, which covers tuition and fees for students who are US citizens and residing in the state of Florida. I believe that this country is the land of opportunity for many As many people come here to live a better life for themselves as well as their future generations. Currently, there has been legislation to further create jobs based on skill rather than a degree because of the expensive cost of possessing a college degree. I believe that this opportunity will start very small within the county then expand to the district and then eventually the state. Still, it also can cover the entire United States because now a college education was seen as the same as a high school diploma 20 years ago. I believe that the window of opportunity will be open for a long time.

Innovation

My innovation is referred to as the Florida Residence Educational Initiative. This initiative will allow Florida residents to receive a college education based on the taxes paid for by Florida residence, just as if it were public schools in the state. The way it would make money is by gathering the money from the taxes as well as finding local investors who would be willing to provide money To assist any student that might need financial help to pay for textbooks. This money could come from grants as well, but I cannot give an amount of money that it would cost to produce. It will make money by using the Florida taxpayer dollars as well as other resources.

Venture Concept.

    This innovation will solve the problem of student loan debt in the state of Florida and even go further into reducing the amount of student loan debt in the current United States climate. Customers would switch to this product because it is more affordable for their kids to attend a public university versus a private university. This initiative would cover all 12 public schools in the state of Florida but can provide good scholarships for those who are considering attending private universities around the country. It will be hard to get money to switch because many schools often have programs and areas of study is that other schools don't have. Currently, the competitors would be Florida Bright Futures because it covers tuition and fees for students who want to attend public universities as well as private schools. The possible weaknesses are they only include tuition and fees, not housing for those who don't want to participate in a college in their area. I believe that house is the most expensive expense of going to college, not the tuition and fees. Personally, because this is an initiative, there is no rule that packaging plays in the equation, but providing customer feedback and support is of utmost importance because people like to know where their money is going to. As well as being located in Florida is incredibly essential because it will help people afford Florida colleges. 

    To support the ongoing production of the service, I will work with state government officials to propose this bill into action and see if the governor would be up to pay for that resource that will benefit all Florida residents. Currently, I don't have several employees that I would like to work with to make this idea a reality, but the more, the merrier—the roles in the venture our business as well as a government official role. I believe that social capital and networking are very hard to replicate in a business sense. Because everyone has a way to gather different people into believing and supporting their business idea, it is understood that social capital is challenging. So let's say that it does work, and the governor decides to pass it, I believe that my next opportunity would be to tackle the Florida private school system because I think it would be more comfortable but also more difficult because of the nature of public schools and how they receive profits and money going inside the institution. I believe that this has the potential to go nationwide because of the fact being that a college education is now seen as an expectation rather than a luxury like it was in the past. In about five years, I could see myself going to different states and touring and promoting my ideas about I included college education that bridges the gap between geographical and demographic areas.

Celebrating Failure

1. Personally, I believe that I have failed to how to further enhance my planning and assignment schedule to finish the course before the end of the semester. 

2. What I have learned about failure is that if that when you make a commitment, you have the job to complete the tasks you have pushed yourself to do instead of piling up until the deadline you have set for yourself. 

3. Personally, I hate failure. I am tough on myself and harsh to finish on assignments. I will literally tell my family that I can't go to the beach because doing online college classes has caused me to be more motivated and self-disciplined. Every single week this class has 3 assignments due, so when I heard that we had a 2-week Summer Break due to the 1-week Summer Break as well as an extra week because of the Summer B semester starting later, I decided to take advantage of it. I decided that I needed to get most of the class finished by the end of the first week of Summer Break. I am also a student in the Innovation Academy, which means that I have a Spring/Summer schedule versus a Fall/Spring, which means I am taking a full-time program this summer, so this class, along with 3 other courses, is a lot. I also am taking one of the main classes for my major, and that is a lot of work as well, so this break is coming in the clutch to work harder and more effectively. By watching more productive people, it has really helped me and building a system that works for me. Because I believe that it is essential to work smarter, not harder. Also, we must understand that productivity is about not the quantity of work we can get done but the quality of the work we can get done effectively. I have grown as a person just by being alone and creating a routine during this time because it makes me feel like everything's OK and "normal" and helps me in understanding more about how I use my time. I don't see failure as something weak but as an attributes that needs to be worked or improved upon. 

Reading Reflection No. 2

1. The theme of the book Mindset: The New Psychology of Success by Carol Dweck is to inform the reader that an entrepreneur's mindset is critical to their success and perception of the world, how it can rule your life, how to understand others' mindsets, and how to change it if you find yourself not at the position you want to be in (Dweck 3). 

2. As an entrepreneur, have a growth mindset is critical for the success of your company. Dweck really places a unique perspective for the reader when she mentions that she does in research to ensure the credibility of the findings and evidence to present her case on how mindset really helps in becoming a successful individual. At the beginning of the novel, she mentions that "believing that your qualities are carved in stone—the fixed mindset—creates an urgency to prove yourself over and over" (Dweck 5). I think it is a high point when she mentions that a fixed mindset creates a need for a person to seek recognition in the endeavor they are considering pursuing. Hearing this as an incoming entrepreneur really helps because it helps the reader understand that intrinsic motivation pushes further than extrinsic motivation. It teaches the reader to move towards a path of assertiveness. The exercises and the way class ENT3003 is structured as a blog creates a concept that I have seen has shown that entrepreneurship can easily be changed and adapted as new ideas spark. Professor Pryor asks us to propose a business idea just as we would when we go into the workforce, so when that time comes, we are more than ready to take on the project ahead. 

3. Personally, if I had to create an exercise for this course, "Create a Zoom Networking Mixer" with people in the class. The class is filled with 500+ students, and I think it would be really great to get to know the people in the class. During this Summer semester, I have built a platform during a program I chose to participate in that is now virtually being taught. As an incoming entrepreneur, I believe networking is one of the most significant aspects one can partake in. Building those relationships with mentors and people who have pursued similar endeavors before you are incredibly critical. With that being said, every single Saturday and Tuesday at 11 AM and 1 PM on Tuesdays, I host networking mixers for everyone to have a chance to build a social capital even through a virtual platform. Because I believe that can take you very far in whichever endeavor you decide to pursue. 

4. I believe that the most surprising thing about this entire book was the number of examples of building that mindset to further propel success were included. The author is an incredible author who really wants to engage the reader for them to understand the value that a growth mindset has in an idea/product/service's (etc.)'s success. Dweck uses stories of entrepreneurs we know and love but also her personal experiences in the area, which creates a more manifest reality of mindset's importance. With that being said, I would like to add that I completed these assignments, not in the order that they were intended to be, so I decided to do Assignment 23A, which was Your Venture's Unfair Advantage. In that assignment, I discussed the importance of having a growth mindset and used a VRIN analysis to address its concern.

Your Venture’s Unfair Advantage

1. Innovation Process

Valuable: Yes, this resource will be valuable as it will provide incoming college students the ability to expand their potential further. 

Rare: This resource isn't rare because there are many people that already possess this skill without having gone to college but it is a skill that is acquired not inborn.  

Imitable: The resource is imitable with current websites like LinkedIn and Skillshare which are paid subscription services. 

Non-Substitutable: Because this resource is available to learn across many platforms, it is non-substitutable because many platforms are paid but none at this point are free to learn. It costs me to learn something no matter the circumstances. 

2. Customer Understanding 

Valuable: Yes, this resource will continue to be valuable as the initiative gathers many constituents that can help contribute to its funding. 

Rare: Yes, this resource is rare because the initiative will gather to assist in building a network of state government officials to assist in proposing the initiative. 

Imitable: The resource is imitable as it can provide the adequate connections needed to push the legislation to the next step. 

Non-Substitutable: The resources that I possess are non-substitutable that have provided me with insight into the governmental climate. 

3. Growth Mindset 

Valuable: Yes, this resource is valuable as it helps me grow my business further. 

Rare: Yes, this resource is rare as it helps the initiative have more potential to reach more people. The initiative is designed to assist students of all kinds. 

Imitable: This growth mindset is imitable because it can lead to more outreach across various states to produce initiatives just like my own. 

Non-Substitutable: The resource is non-substitutable because one doesn't want to lead an initiative with a fixed mindset thinking there is a limit to the amount of potential that it can provide. 

4. Problem-Solving Skills

Valuable: Yes, this resource is valuable as it can help in fixing and combat any small details that can prevent the initiative from being proposed. 

Rare: This resource is not rare because every product and service must encounter a problem that needs to be solved. 

Imitable: The process to solve problems in business is not imitable because we all solve problems in different ways. 

Non-Substitutable: The process to solve problems is non-substitutable because every type of business encounters a problem that within the firm is very difficult to solve and might need to seek outside resources. 

5. Social Capital

Valuable: Developing those networking skills can really benefit the business moving forward. 

Rare: Social capital isn't rare but it is vastly underrated in terms of its importance in the current business climate. 

Imitable: The resource is imitable as the skills you use for one person can be transferred to another. 

Non-Substitutable: Because our social capital can reach far horizons to help us, they are non-substitutable for our busy ideas. 

6. Expressing Employee's Strengths

Valuable: These strengths are valuable as they provide a way to examine every participating member's qualities and attributes. 

Rare: These combinations of strengths by Clifton Assessments are rare because they are unique to each person who takes the examination. 

Imitable: The strengths individually are imitable across different people because one person may share strength with someone else and that can enhance efficiency. 

Non-Substitutable: All of these strengths examine the best qualities that can be represented within one's own skillset. 

7. Work Experience

Valuable: The fact that I have worked in an environment that provides a service is a valuable aspect because it helps in understanding the consumer's needs with the product/service. 

Rare: The resource is not rare as many people are often inspired by working somewhere to start their own business. 

Imitable: The resource is imitable because many people can build their work experience. 

Non-Substitutable: The resource is non-substitutable because work experience is different for everyone. 

8. Business Ethics

Valuable: Business ethics are valuable as they ensure that the company you are working for is in check. 

Rare: Business ethics are rare because some companies have their best interest to make a profit in mind. 

Imitable: This resource is imitable because many companies can learn more about producing products/services sustainably. 

Non-Substitutable: Ethics are non-substitutable because they provide a way to produce effective and righteous policies. 

9. Time Management

Valuable: Time management is valuable as it stimulates productivity and efficiency. 

Rare: The resource is rare because many often think we must work harder but we should actually work smarter.

Imitable: The resource is imitable to other companies to use a proper method to execute their tasks. 

Non-Substitutable: The resource is non-substitutable because it ensures the well-being and active collaboration in the team within a time frame.   

10. Leadership Experience

Valuable: To execute legislation, we must expend the great resource of leadership to expand our initiative's goals. 

Rare: The resource isn't rare because many companies have an executive but this executive may not execute leadership. Leadership is about service, not position. 

Imitable: Leadership is imitable because it has the ability to acquired and spread across many of the initiative proponents. 

Non-Substitutable: Leadership can't be exchanged but can be enhanced and sharpened. 

Personally, I believe that my top resource is the expression of employees' strengths. When I go into my workplace, I want every employee who begins as an employee of my venture to take the Clifton StrengthsQuest Assessment. The assessment outlines each person's talents and qualities that make them an adequate candidate. The information provides from this assessment can help the company's leader assess these strengths and assist the candidates in providing benefits to those who sharpen those strengths and exploit them and view it as an opportunity. There is a lot of opportunities for those who choose to share their strengths with the company. They can find a couple of qualities similar to those in the workplace but the combination of their unique selves. 

Elevator Pitch #2

https://youtu.be/8okgu3q7TjY

Unfortunately, I didn't receive any feedback on my first Elevator Pitch. But looking back at my last elevator pitch, I think I need to show the audience of investors more emotion to convey my pitch more memorably. For the second round, I have produced more feelings to help the investors understand the devastating problem faced by many incoming high school seniors. The most significant factor that influences many on choosing where to go to college is the cost of attendance. Many can afford this cost as it is now seen more as an expectation to attend rather than a luxury. Genuinely, by mentioning that the funding will be assisted by Florida taxpayers, it provides a transparent approach and solution that encompasses the majority of the Florida resident population. It is essential to mention that to the investors because the investors (audience) can be state government officials to help begin proposing the idea. I think it can be a compelling opportunity to undertake, but the magnitude of the solution is so much bigger. 

Growing Your Social Capital

1A. Representative Anna V. Eskamani is a Florida Representative for District 47.  

1B. Domain Expert: With the fact that Ms. Eskamani is a Florida Representative, she has the voice of the people in Congress. She proposes legislation and is one of our United States representatives. 

1C. Anna Eskamani is the representative from Orlando. I contacted this person through my friend Danna who is an intern for her. 

1D. She mentioned to me the fact that you looking to propose more legislation to promote economic opportunities and reduce inequalities as she is an Iranian-American. The return expectation is that she is looking to support anything to promote economic opportunities for future generations. 

1E. She can help my idea start in the mayor's office and then expand to the county and then the Florida state government to pursue funding. 

2A. Peter Luu is a realtor in my area of Lake Nona. 

2B. Marketing Expert: The facts are that Peter Luu is one of the most well-known realtors within my neighborhood in Lake Nona. He conducts a lot of marketing research on how to promote and sell the houses within the area.

2C. Peter Luu is on my neighborhood Facebook group so I contacted him via Facebook messenger and asked for his advice and how to market this initiative based on how he markets the houses in the neighborhood. 

2D. The favor that he provided me with more insight on how to target my customers even further as he has the environmental trends of the housing market in my neighborhood before, during, and potentially in the future of the COVID-19 pandemic. The return expectation is that he is looking for a chance to be a shareholder in the initiative to propose it. 

2E. Peter Luu has a massive following in my community when it comes to selling houses. He can really assist in helping me market to the several demographics present in the community especially because there's a lot of younger and smaller kids with younger parents. 

3A. Sonya Labosco is a government law enforcement official in Lake Nona. 

3B. Supplier: The fact are that Sonya Labosco is one of the district governors of the law enforcement association for my area. She knows a lot of government officials and has spoken to Congress. 

3C. Sonya Labosco lives near my neighborhood and I was briefly introduced to her but fully knew more about her job more recently.

3D. The favor that she provided me was the time frame she spends looking for resources from Congress. She tells how difficult it is for a proposal to be proposed. The return expectation is hopefully the people she knows in Congress like senators and representatives who can assist in proposing the initiative. 

3E. Sonya Labosco is one of the most known government law enforcement officials as I looked her up and she has spoken to ABCnews and many other media sources. 

Personally, I have attended many networking mixers because of my involvement in Interact Club. I personally love getting to know people who live in my community. I have only lived in Lake Nona for 4 years since the beginning of high school. Before moving to Lake Nona, I lived in Gainesville actually for 11 years. With that being said, I am very grateful for the network my parents have assisted me. In Lake Nona, the networking began as I participated in Interact Club. To enhance future networking opportunities, I host networking mixers on Zoom every Saturday and Tuesday to get to know new people. This experience broadened my horizons more because these are people I don't know so it is always nerve-racking knowing what type of person they are to help me in this proposal. 

Idea Napkin No.2

1. You

My name is Sophia Rodriguez, and I am a first-year Business Administration student at the Warrington College of Business at the University of Florida. As a freshman in college, I have started to gain valuable skills to enhance my leadership through partaking in the Leadership Development Program. Leadership Development Program is "an organization...that enables participants in the school to learn the steps to grow personally and professionally, pursue involvement opportunities, and establish a network through mentorship and experiential learning". The opportunities to network with my mentors Ben Sisarsky and Lexi Stoloff, who have gone to do jobs at Blackstone Group and Proctor and Gamble. As a person who is continually looking for the next step in their academic journey, I am looking to pursue law school to further my education on how the law works and propose legislation to assist future generations. 

2. What are you offering to customers? 

I am offering a way for future generations not to worry about student loan debt. I will be proposing an educational initiative to use portions of Florida taxpayer's dollars to fund our future generations of a college education. 

3. Who are you offering it to?

The service is being proposed and offered to investors to enhance and curate the taxpayers' funds to go towards incoming high school graduates' college education at the Florida public universities. 

4. Why do they care? 

The customers who will partake in this initiative will care about it because it will reduce the amount of debt from student loans beginning in the state of Florida. This initiative has the potential to go and attract other states to do the same to reduce the amount of student loan debt in this country. If anything, this initiative will assist people and being motivated to pursue professional degrees without the threat of student loans holding them back. 

5. What are your core competencies? 

By partaking in a law program this summer, I have learned that the majority of incoming lawyers for law school have degrees in political science, philosophy, psychology, or/and sociology. Personally, I am coming from a business degree before attending law school, which sets me apart from the many applicants in the pool. Learning these business skills before attending law school will provide me with a more well-rounded approach to how to propose legislation. 

Personally, I believe that the part about what I am offering to customers can be perceived as very vague because it is tough to learn which segments are the best to market this initiative. This product has many market segments, which include investors, shareholders, stockholders, incoming high school seniors and their parents, etc. Learning how to divide the market segments is critical for any business to find success. When proposing laws, I am looking at the information given to me from the incoming high school seniors because they are ones leaving and starting to apply to college. They all mentioned to me that college is expensive and they want to pursue professional degrees beyond their Bachelor's. It is complicated to find out the proper and best segments to market this initiative effectively. In my last Idea Napkin, I received feedback from Bridget, and she asked what kind of policy I am looking to implement and how I plan to achieve it? To answer Bridget's questions: I believe that the type of procedure I am looking to implement is one that reduces the amount of student loan debt by using Florida taxpayers' money to fund students' college education. I plan to meet with legislators in the state of Florida and hopefully Florida senators and the governor to propel this initiative into action. I have used Bridget's feedback to enhance my response from Idea Napkin #1 for number two of this Idea Napkin, which is of what I am offering to my customers. 

Create a Customer Avatar

The prospective customer in the segment I am beginning to look at are incoming high school seniors. At this moment in time, this incoming senior is named Jamie, and she is starting to look at schools in which their SAT scores can help her apply but start building an academic resume to include all their activities and extracurriculars. The hobbies she participates in are Interact Club, volleyball, theatre, working at Mathnasium, babysitter, etc. The kind of car she drives is a Toyota Camry, a cost-effective option for the first cars. Her favorite TV shows are Outer Banks and the Vampire Diaries because they show teenagers and how they live their lives. She has no children as she is looking to pursue higher education. She is 17 years old, going on 18 years old. She isn't adopted and is depending on her parents. Her favorite book is The Outsiders by S.E Hinton. She isn't very involved in politics but her friends are. She feels as though she is already a college student as she wants independence and freedom from her parents. She is ready to move out as she wants to pursue her dreams of becoming a neuropsychiatrist. She decided that she wants to study sociology and philosophy before attending medical school to get a competitive edge in the applicant pool. 

Jamie and I have a couple things in common in terms of our goals, aspirations, and mindset. The customer avatar Jamie and I are both looking in a career beyond our undergraduate journey. Jamie wants to go to medical school while I want to go to law school. Jamie and I both like the Vampire Diaries. I think she is on Team Stefan and I am on Team Damon. Jamie and I are both self-proprietors in our very own babysitting and tutoring service businesses. I think that it could be a coincidence because the customer is having a need met by the person who originally had the unmet need and is working to meet the needs of others like Jamie who faced the current problem. 

In this post, I have attached a picture of Jamie and the Vampire Diaries. 

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What's Your Secret Sauce?

1. Describe five ways in which you think you have human capital that is truly unique. 

• Ambitious: I believe that I can do anything I put my mind to if I manage to stay organized and focus. 
• Confident: I believe that an assertive and confident person can seize many opportunities.
• Aware: I am continually seeking out more ways to enhance my steps along the way to my career path. 
• Conscientious: I am incredibly attentive to detail to ensure and maximum productivity and success. 
• Polite: By being respectful towards others, it can show that I acknowledge their time to meet with me. 

2A. My Dad, Ramon: https://soundcloud.com/basicallysophie/ramon-interview/s-yAGBpV9l4Pz

As an upcoming entrepreneur, my dad described me as a motivated, active learner, passionate, and kind individual. I asked my dad to represent me in 5 adjectives, and he said they would be industrious, altruistic, generous, friendly, and joyful. He mentioned that I should improve upon my organization and deadline commitments. 

2B. My Mom, Jennifer https://soundcloud.com/basicallysophie/jennifer-interview/s-ZIUMLKYLlWT

As an upcoming entrepreneur, my mom described me as a spontaneous, smiling, and assertive individual. I asked my mom to use 5 adjectives to represent me, and she mentioned confident, funny (good sense of humor), task-oriented, diligent, and assertive. She suggested I can improve upon the patience and delivery of projects.  

2C. My Brother, David https://soundcloud.com/basicallysophie/david-interview-1/s-EG3ZpLLZ87R

As an upcoming entrepreneur, my brother described me as an active learner. He chose the 5 adjectives of curious, caring, kind, adventurous, and smart. He mentioned I can improve upon my problem-solving skills and having a great mindset. 

2D. My Best Friend, Lilly https://soundcloud.com/basicallysophie/lilly-interview/s-ae5PLuUdwZy

As an upcoming entrepreneur, my best friend, Lilly, has known me since my freshman year of high school. She chose the 5 adjectives of considerate, ambitious, diligent, generous, and passionate. She mentioned that I can improve on my over description and simplification. 

2E. My Best Friend, Danna https://soundcloud.com/basicallysophie/danna-interview/s-IpUyGeG4zSr

As an upcoming entrepreneur, my best friend, Danna, has known me since my junior year of high school. She chose the 5 adjectives of perseverant, hardworking, dedicated, kind, and unique. She mentioned that I can improve on my patience. 

3. I see myself as a strong independent girl who wants to take on the world. Others probably see as an extremely passionate girl who radiates sunshine and potential which is similar to what I see in myself. The others see me, and the way I see myself are the same and different in a few ways. I see myself as a humble individual who is the living byproduct of her parent's hard work and dedication. Others probably see as one who is exceptionally productive and likes to seize opportunities that are critical to note. These differences are likely caused by the experiences I have captured and accomplished in such a short time and extremely young. The interviewees are correct about me but not fitting with the fact that this is the way they see me today. As a person who likes to implement change and spontaneity, the person I am today is probably not going to be the person I am in a couple months, years, etc. Going back to Part 1, I wouldn't make any corrections, but I would add to the list. The list is only 5 words, but it can definitely expand as I expand my skillset. 

Figuring Out Buyer Behavior No. 2

1. Many segments can apply to my business concept of an educational initiative. For these interviews, I decided to interview three more high school juniors:

2A. Justin Pourteau, a 17-year-old incoming high school senior exploring his options for college.   

2B. Sophie Murphy,  a 17-year-old incoming high school senior is considering out-to-state universities because her sister attends one. 

2C. Christian Camacho, a 17-year-old incoming high school senior that is considering moving to New York and attend Tisch at NYU to pursue a musical theatre career path. 

Begin with an alternative evaluation

3A1, 3A2, and 3A3. Based on these high school juniors, all are concerned with the cost of attending college post the COVID-19 pandemic. Honestly, these high schoolers know that the price of attending college is increasing every year and with merit scholarship programs like Bright Futures, attending college in Florida doesn't seem like a bad idea at all to them. Having known before the pandemic and during the pandemic has provided even greater insight on that of the price of attending a four-year university. Some are currently the dual enrollment students to make their GPA higher and receive their Associate in Arts degree before they graduate to save money and time in college. While others are still doing AP (Advanced Placement) courses to graduate and attend out-of-state or/and private universities. 

Purchase Decision

4A1, 4A1, 4A1. Because this is an educational initiative, it would be classified as a B2B and B2C purchase. There are different people involved in the buying center. The information search would be extensive due to the nature of the matter. Companies would not know what they are going into by participating in this educational initiative if they don't gather enough information. As a concept, my initiative seeks to partner with the way for Florida residents to pay for the taxes and the money allocated for these taxes will also fund college student's education. 

Post-Purchase Evaluation

5A, 5B, 5C. What matters most to your customers when they think back on the 'rightness' of the purchase is in the B2C purchase, the Florida taxpayers' money to going to fund a college student's education to reduce the amount of student loan debt. What matters most to your customers when they think back on the 'rightness' of the purchase is in the B2B purchase, the people who handle the taxes know that the money can reach further for the greater good. What sorts of things make the B2B and B2C think the purchases were a bad idea are that there not being enough funds being collected to support this initiative and ensure fair distribution of the money. 

Reflection

6. Many of the students present in the segment spoke with their parents and providing me with more information about how they plan to apply for jobs post-COVID pandemic. Many are on the job search to help and support their education as many have high hopes and aspirations. I am very inspired by the students who choose to apply to jobs. These students are looking more and more for options to exploit their talents and expand their work experience. 

7. Knowing the segment and the interviews, these incoming high school seniors are faced with the dilemma of staying here and saving money (prices) or finding external funding. This group of individuals are extremely active in their school and community with pushing their boundaries further which is a magnificent feat. Their parents are working remotely which is extremely difficult for them to handle so they want to help. They are concerned about how the tax dollars will be allocated and distributed as a part of the purchase decision. If this educational initiative goes through, they let me know that they would be filled with delight after the decision goes through. 

Halfway Reflection

    The behaviors that I have used to keep up with the requirements of this course are to WRITE out all the assignments for the entire course in a planner or calendar system. Making the most out of your time is critical to stay on top of this class. I remember deadlines more if I WRITE them rather than TYPE them. Also, every week I wrote that they are all due by 12pm until the end of the semester. By emphasizing that they are all due by 12pm every week, it permanently imprinted the deadline in my head to ensure I wouldn't forget any assignments and their requirements. Actually, for the assignment Elevator Pitch No.1 that was due two weeks ago, I felt like giving up. This was because I wasn't sure that my Elevator Pitch was good enough until I checked the assignments for the rest of the semester, and I noticed this was only Elevator Pitch No. 1 out of 3 for the entire semester. This let me know that my Elevator Pitch was and is a work in progress.

    I believe that I have developed a tenacious attitude during these 2 months that have caused me to push farther than what is expected of me. This semester I decided to buckle down and take 16 credit hours this summer, which is extremely intense. I know! I decided to revamp my routine and wake every day at 7am and start working on school work and as well as enhance my professional development skills through leadership and public speaking opportunities. The experiences that most likely contributed to this were those getting to know my professors more profoundly as well as seeking out the business career services to assist me in pursuing an internship for my Fall semester. My three tips for an upcoming student in this class would be to I haven't done this yet. Still, to foster and develop tenacious skills (I will do during this Halfway summer break) I would recommend the future student to send their Elevator Pitch to Professor Pryor for feedback, to read every single one of the comments students have said on your posts, and take notes on what is expressed in the video as it can be beneficial in your future endeavor with business. To develop a tenacious mindset, I believe that you must start by waking up early so you start your day refreshed and ready to take on the world and all the tasks on hand. To foster the skills of being tenacious, you must understand there is a big difference between staying busy and staying productive. 

Reading Reflection No. 1

1) You read about an entrepreneur:

What surprised you the most?

The thing that surprised me the most about Elon Musk started out at an internship at the company "Pinnacle Research Institute. Based in Los Gatos, Pinnacle was a much-ballyhooed start-up with a team of scientists exploring ways in which ultracapacitors could be used as a revolutionary fuel source in electric and hybrid vehicles" (Vance 36)

What about the entrepreneur did you most admire?

The thing about Elon Musk that I most admire is the fact that he started in the 1990s and just like many of the others valued the risk of leaving college to pursue his first dream Zip2. The book mentions it like this "He initially intended to pursue a doctorate in materials science and physics at Stanford and to advance the work he’d done at Pinnacle on ultracapacitors. As the story goes, Musk dropped out of Stanford after two days, finding the Internet’s call irresistible" (Vance 37). 

What about the entrepreneur did you least admire?

The thing about Elon Musk I least admire is the fact that he gave up control of his company Zip2 too quickly. The book mentions the fact "the venture capitalists pushed Musk into the role of chief technology officer and hired Rich Sorkin as the company’s CEO. While Musk agreed to the arrangement, he came to resent giving up control of Zip2. “Probably the biggest regret the whole time I worked with him was that he had made a deal with the devil with Mohr Davidow,” said Jim Ambras, the vice president of engineering at Zip2"(Vance 40). But the thing that I don't admire is that he didn't think anything through before deciding. 

Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

I noticed a couple things while reading the book as it mentions that Elon Musk received a lot of internships in a variety of fields that helped produce the initial startup. He obtained one at "the Bank of Nova Scotia. His big takeaway from that job, that bankers are rich and dumb, now had the feel of a massive opportunity" (Vance 46) 

2) What competencies did you notice that the entrepreneur exhibited? 

The core competencies that I noticed that Elon Musk is his approach with other companies and the internal marketing environments. The original name of PayPal was X.com in June of 2001. "Musk and Moritz, though, urged the board to reject a number of offers and hold out for more money. PayPal had revenue of about $240 million per year and looked like it might make it as an independent company and go public. Musk and Moritz’s resistance paid off and then some. In July 2002, eBay offered $1.5 billion for PayPal, and Musk and the rest of the board accepted the deal" (Vance 52). 

3) Identify at least one part of the reading that was confusing to you.

Many people wrote articles about Musk, one being by "Eric Jackson, an early Confinity employee, wrote The PayPal Wars: Battles with eBay, the Media, the Mafia, and the Rest of Planet Earth in 2004 and recounted the company’s tumultuous journey. The book painted Musk as an egomaniacal, stubborn jerk, making wrong decisions at every turn, and portrayed Thiel and Levchin as heroic geniuses" (53). Compared with others like Jobs and Gates, Musk had a personality in which many thought he couldn't take criticism. His ex-wife mentioned that "Musk’s grim childhood and the intense range of emotions he could exhibit" (Vance 54). 

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

If I had to ask Elon Musk a question, I would ask him "Why did you give up PayPal so quickly?" and "With your current project SpaceX, how far do you think you will remain CEO of it?". These questions would allow Musk to think about the critical choices he made and will possibly make. 

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

Elon Musk's opinion of hard work is that Musk "sets unrealistic goals, verbally abuses employees, and

works them to the bone" (Vance 13). I strongly disagree with that opinion because there is a line between verbally abusing employees and motivating them. We must motivate employees to exceed expectations but not to overwork them. You can set unrealistic goals because goals are meant to be achieved in steps. 

Figuring Out Buyer Behavior No.1

1. Many segments align with my business concept of an educational initiative. One of the significant segments within that is that of high school juniors getting ready to apply to college.

2A. Danna Chacon, a 17-year-old incoming high school senior who has a wide array of college on her watch to pursue as an option to go to for college. 

2B. Matt Schalch, a 17-year-old incoming high school senior, involved in the Student Government Association as Student Body Secretary in charge of delegating and hosting executive meetings and looking at private 4-year universities for scholarships. 

2C. Maya Jawhari, a 17-year-old incoming high school senior, involved in the Dual Enrollment program looking to attend an in-state 4-year public university where they accept her Associate in Arts degree from Valencia College. 

Begin with need awareness.

3A. When did you first become aware of the problem regarding paying for a college education?

3A1. I haven't taken in the problem yet because I am still deciding on where to apply to college. The application process sounds absolutely nerve-racking to me to even start thinking about. I am always on the fence if I should go to a public and private college or university. 

3A2. I have taken notice of the problem because I want to pursue a professional degree. I know the financial aid offered by private universities can either be sufficient or very little, which can help assist me in making the right choice for college. 

3A2. I had taken notice of the problem when I first spoke with my guidance counselor. She mentioned to me that Bright Futures is looking for 3 things: SAT/ACT score, GPA, and community service hours. For myself, I get test anxiety, so it is complicated to focus on such an extended test. 

3B. Has the COVID-19 pandemic interfered with your plans to pursue a college education?

3B1. The COVID-19 pandemic has resulted in many losing their jobs. As an intern for my local state representative, I have been assisting her in filing unemployment claims. There have been so many in the state of Florida thus far. 

3B2. The pandemic has only caused me to push my limits further. I am looking to pursue all the opportunities I possibly can. Housing is the most expensive part of college for in-state universities. 

3B3. I have been looking at maybe staying home and going to the University of Central Florida. It saves money and time if I want to become a doctor. Medical school is very, very expensive. 

4C. Move to information search. 

4C1. My number one source of information is my teachers at school. Because it is so easy to talk to them, I continuously am curious they stay so up-to-date. I have received a lot of college advice from my teachers to save money. I search for help from others versus the Internet. 

4C2. My parents are a great source of information because they always have me on their minds. They are still willing to help with whatever I need. I just need to have a mentor who guides me further from an educational and financial perspective. I have been looking for many scholarships online provided by the guidance counselor. 

4C3. The guidance counselor has the latest updates. Our school offers college visits and college fairs to help steer people in the direction of having a higher education. These resources have very helpful. The brochures often have information that is difficult to find on the school website. 

5. I have learned that many factors play a role more than ever when wanting to pursue higher education after a pandemic. These students are amongst the wide variety of student involvement and service projects. All of them are a part of the Interact Club, which is a service-based organization that specializes in Service Above Self and the importance of networking. It was a pleasure to interview them as they all have big dreams. These kids are all learning as they go because their parents can't go help and engage them on how to pursue higher education after a worldwide pandemic. 

6. These prospective college students are working hard to pursue their dreams and provide awareness to me that they have passion. They are igniting and sparking a flame to initiate this educational program. I hope it can help future students to pursue higher education without the worry of a worldwide pandemic occurring and affecting them financially. 

Idea Napkin No. 1

1) Who

As a person who wants a future lawyer, I am looking to make the world better through producing policy. My talents include public speaking, interpersonal communication, and international synergy. My aspirations are to work for the federal government to provide foreign affairs with other countries. My business concept is a proposition for legislation to reduce student loan debt faced by many in our country. 

2) What

I am offering an opportunity to propel students to succeed in seeking professional degrees. I will solve the customer's unmet needs by exceeding the general objectives of education. College degrees can help reduce one's ignorance. 

3) Who 

I am offering the business to prospective students looking to pursue their dreams and aspirations. The demographics of characteristics include young adults ages 18-19 right after they graduate from high school. All of the prospective customers will live in Florida and want to attend Florida in-state 4-year universities. All of my customers are all looking to receive funding for a college education to eliminate student loan debt accumulation. 

4) Why

The customers care because they would like to pursue an achievement without it costing them a cent. Customers who help propose this legislation are investing in coverage included with the taxes they pay as Florida residents. This is extremely valuable because Florida residents will fund this initiative to make Florida a better state for education. Providing these opportunities will open so many doors for our future generations. 

5) What 

Some of my core competencies are that of active participation, service, and a growth mindset. I think of 5 things that can set me apart from everyone else. These are my 5 StrengthQuest Themes: Learner, Achiever, Discipline, Futuristic, and Maximizer.  One thing I have that nobody else has is to me my intrinsic value is higher than my extrinsic value when I accomplish efforts. 

Reflection: Looking deeply into my business concept, I notice and believe some elements fit together (continuous) well while others have some do not. The weak parts of my business concept are that the business concept starts at the county level for it is to be a small scale enough to expand further. The customers of the concept will be a combination of both prospective college students, investors, and state governments who fund the program. It is extremely difficult to propose a concept that is more mainstream and widespread as well as not being tangible. But this can be an advantage as I move further to progress the process.  

Elevator Pitch No.1

https://youtu.be/-8qDP2m2Vsk

Testing the Hypothesis, Part 2

Local Vocational/Trade School Student: Due to the current circumstances, it has been challenging for me. I am trying to convince myself to apply to as many scholarships as she can pay for her school. Florida Bright Futures is a great opportunity, but it is still costly to spend so much money for me to go to the Florida school of her dreams. My dream school is the University of Florida, where my husband and I both attended, and she just is fascinated by it. If the state government could help pay for my tuition, I would go in a heartbeat. But due to the nature of the situation, I am not a prospective consumer because, after careful consideration, it is too expensive for me to attend a four-year university with housing not being included. 

Local Valencia College Student: I have lived here in Orlando all my life, and I know that to go everywhere, it takes 20 minutes. At Valencia College, there is housing now partnered with UCF. Still, on the usual campus, it is usually commuter, so having tuition paid for by the state government would be useless in my case if I chose to go to Valencia to stay home and save money on tuition and fees compared to a four-year university. Valencia College is way cheaper than a four-year university by saving more than half of the cost. Community colleges are two-year institutions, and higher education should be encouraged, but I don't want to pursue student loan debt in housing. 

Local Technical School Student: Living in Orlando and going to high school here has really helped me realize one thing, I can commute to my University whenever I have class. I don't need to live there in on-campus because it is costly. I can drive to and from school and come back to my house. I can save around $2,000 a semester by doing that I may get a job while being a student. I want to be a doctor, and medical school is expensive, so I decided I wanted to stay here so I can save money and gather to see if there are post-graduate grants or/and scholarships to pay for medical school. Having tuition paid for all four years would be excellent, but I want to join the workforce and work for myself. 

Prospective Dual Enrollment Student: I am currently a 9th Grader who is going into the 10th Grade at Lake Nona High School. As a freshman in high school, I learned about the opportunity of Dual Enrollment through my guidance counselor. My guidance counselor mentioned that I could start taking college-level classes (not AP) in 10th Grade through the Collegiate Academy. The Collegiate Academy pays for me to take college-level courses while still in high school. I don't have to pay for these classes as they are paid for by the county. The textbooks as well are free. I can graduate with my Associate in Arts Degree by the time I graduate high school. My goal is to get my Associate in Arts and then transfer to Rollins College, which is a private college because I want a Liberal Arts Education. 

Older Woman (65+): I am an older lady who has seen the price of college increase over time. This need would definitely help incoming students. But this is not a need I possess, but I wish it could pass for America. I am not a prospective student because I am too old. 

Who: Out-of-state students share the same position in going to the school of the in-state students. Prospective college students apply to all sorts of schools. 

What: According to Maslow's hierarchy of needs, I feel that my opportunity would follow under the personal needs. Our own needs can be financially stable. The opportunity can be desirable to many prospective students who want to make a difference in the world. 

Why: The people who are outside the boundary are concerned with the current lack of the need. Most individuals outside of the boundary are commuting to their college campus and utilizing grants to improve the finances to afford the college. 

Inside the Boundary		Outside the Boundary
Who is in?	People who have or want to pursue a professional degree, in-state college students, non-scholarship recipients.	Who is not in?	Elderly individuals, Florida dual enrollment students, community college students
What the need is?	The need is a way to achieve college aspirations without the economic hindrance of cost.	What the need is not?	The need is not a way to give for state governments more funding.
Why the need exists?	The need exists because there is a lot of debt involved with taking on educational loans.	Alternative explanations	The need exists because many people want to pursue professional programs without accumulating a lot of debt.

Solving the Problem

In our current society, many encounter and struggle with financial hardships due to the high costs of obtaining a college education. The Florida state government has partnered with Florida Lottery, "authorized a lottery through a constitutional amendment, enacted by a two-to-one margin that would use its proceeds to enhance public education in Florida" (Florida Lottery). The full-tuition scholarship requirements have changed for the upcoming 2020-2021 school year being the fact it requires an SAT score of 1330 or ACT score of 29. Also, the 75%-tuition scholarship requirements have changed to requiring 1210 or ACT score of 25 (Florida Student Financial Aid Handbook). Being the fact that the Florida Lottery Bright Futures only covers tuition of these schools, many people struggle with paying the housing and room and board of their desired school. To solve this problem, I propose that the Florida state government will provide a service called the Florida Residence Educational Initiative that allows for some of the Florida tax allocations to be used to fund college student's housing expenses. To initiate this plan, I will begin to plan to speak and meet with local state representatives from the Orlando area to see if they may start this initiative in the Orlando area for prospective students that want to go to the University of Central Florida, and then we can see if we can expand further and maybe reach the state level.