TestNewBlogUF

1) You read about an entrepreneur: Andrew Carnegie by David Nasaw What surprised you the most? I was quite surprised the author saw it necessary to write this book considering there was a different autobiography written about Andrew Carnegie not long after his death. However, the author, David Nasaw, explained how the previous author was likely influenced by Mrs. Carnegie to write a book that was particularly fond of Mr. Carnegie. Nasaw also said the previous author had significantly less information available because he wrote it before the Internet was so widely accessible. Carnegie also became quite involved in politics and served as a type of liaison between Great Britain and the United States. What about the entrepreneur did you most admire? I admire how incredibly hard Carnegie worked.  Once he decided he would give his fortune away, he became incredibly tenacious and driven to make an overwhelming amount of money.  It's such an interesting thought that a man ...

1) Tell us about a time this past semester that you failed -- whether in this class or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester and failed each time.  I assumed the majority of marketing, sales, advertising, PR, and planning for my family's ranch. I'm still responsible for some operations but, since I also work for UF as a graduate research assistant, I am not physically present on the ranch to execute operations on a day-to-day basis.  I didn't imagine this would be that difficult since I was rasing in operations on the farm and have since completed my bachelors of science in Food and Resources Economics, with a specialization in marketing and management.  I felt prepared.  However, the sheer volume of tasks and the mental ability to switch between graduate classes, job one, job two, and volunteering was quite an adjustment. There were several times I needed to have ani...

Existing Market.  Step 1: Talk about what you think is what's next in terms of products and services for your venture. I plan to pick up additional goods through contracts with other producers and vendors.  I can store and deliver their goods at my facility and better satisfy my customers. Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about  your  ideas of what customers might want next.  My customers once again surprised me.  One customer, in particular, asked if I could deliver a wider variety of goods and services, potentially delivering from Walmart and other chain stores for household goods and groceries.  Due to our rural layout, there are no other competitors in this market currently.  However, I'm concerned...

          Three Major Elements:   1) Opportunity Once I get my production humming, I intend to spread out into other semi-local communities with the same problem my existing customers have: lack of supply. There is a huge need for high quality, affordable feed that isn't an hour away. I intend to solve this issue by hiring a driver who will help me expand our reach into surrounding counties. I anticipate this window of opportunity will be open for seven to 10 years. There is no doubt the local communities will grown, although potentially at the same incredibly slow rate they're currently at. Currently, my potential customers are driving 35 minutes to an hour away to buy feed, then trucking it back home and fretting trying to keep it dry. I think I could easily increase sales by 30%, but likely more. The pool is almost completely untapped. 2) Innovation I can also branch out as a vendor. My trucks will already have designated routes. Therefore, I ...

Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.)  Availability Proximity Delivery Superiority Relationship Value Sustainable Repeatable Empowers you to support your local economy Exceptional service Conduct a "VRIN" analysis for each resource. That is, describe, for each resource, how it is valuable, rare, inimitable (how hard it is to copy by others), and non-substitutable (are there other resources that can provide the same benefits?).  Availability -- prices often fluctuate during the year as processors near you begin to slow down or switch products for the season. Proximity--I am by far the closest producer to you.  If I treat you poorly, it will exponentially...

In this exercise, I'd like you to select a book from the second half of the Official ENT 3003 Reading List and report on it. This part of the list focuses on books that cover, generally, entrepreneurship, business, and learning. I'd like you to address the following in your post: Thinking, Fast and Slow by Daniel Kahneman 1) What was the general theme or argument of the book? The general argument is that there is a war within our minds between our subconscious character, referred to as System 1 in the book, and our analytical mind: System 2. The author referenced a variety of compelling psychological research, which certainly backed his claims. We should be aware and intentional in sharpening our System two which will in turn hone System 1, enabling us to make better decisions despite time constraints and difficulty. 2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?  The contents of the book are incredibly significa...

1) Link:   https://youtu.be/aImNxSyj7aw 2)  A reflection on the feedback you received from your last pitch: My groupmates thought the second pitch was pretty good.  They did not comment on any issues. While this was flattering, I'm sure I made a few mistakes. The only issue I could determine from my second pitch was a potential overuse of economic jargon, but I imagine there were probably a couple other issues. 3)  What did you change, based on the feedback? Third time's the charm, as they say. I bet you find a few things different from the first time, including (a) it's almost memorized, (b) you're far more comfortable in front of the camera, and (c) the pitch itself is better. If this is or isn't true for you, please include this in your reflection! Due to my overuse of jargon in the last post, I simplified the language in this third and final pitch.  I also memorized the speech so I did not have to look at the paper much at all. However, I did not ...

[ What constitutes 'contact'?  Social capital exists in the  "potential goodwill"  that exists between two people. For you to establish "potential goodwill" for this exercise, you need to have asked feedback from each of these people on your business idea so far or in some other way created a favor "request." For instance, this could include asking to meet with them to show your elevator pitch or your idea napkin.  How to write up this post.  Break up your post into three parts, one for each person. For each person, describe: 1) Who they are and what their background is. 2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot. 3) A description of how you found the person and contacted the person. 4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?  5) How will including this person i...