Sunday, January 31, 2016

Customer Interviews No. 1

It took me a really long time to think of an opportunity. I wanted to think of something student related because that would be the easiest group of people to interview. I was thinking of opportunities when I looked at my textbooks and realized how awful buying textbooks is for a lot of students and how that unmet need could be turned into something positive. Coming up with questions was pretty simple. I still don't have a clear idea of what I want to do with textbooks but I think an app could be a pretty good way to solve the problem. So in my questions I asked people what their experience buying textbooks is like, where they get most of their textbooks, and if they would be interested in an app. I tried not to have any one sided questions and keep it fair in order to get the best results.
After going over the interviews, I discovered that people find the textbook process pretty easy now that everything can be done online but people did complain about the delivery process and pricing. The majority of people either use Amazon, Chegg, or the UF bookstore in order to get the textbooks. People seemed to have an interest in the app because it would be an easier alternative to the Facebook page or buying them online. People did say it would have to connect them to people within their major to make it easier. As for the actual interview process, I found it very frustrating especially since the first seven people I asked said no. I realized I had to change my methods a little bit and ask people that were sitting or standing around rather than people who were walking somewhere. Once I did this, the process became significantly easier.

Week 4 Reading Reflection

One thing that I disagreed with Kuratko about was when he said the best ideas come out of the blue. For me personally, I usually get my best ideas for something when I'm working on it. For instance, I got my business opportunity for this class when I was consciously thinking about idea opportunities. I'm sure people do get creative ideas out of the blue but I'm not sure if it's the most common way it happens.
The most confusing part of the reading for me was when Kuratko explained appositional relationships. It doesn't completely make sense at first when he states "things and people exist in the world in relation to other things and people." It makes some more sense after reading more but it's still a confusing concept. I understand now though he's trying to say how creative people can think of a use or connection for any two objects.
The biggest surprise came to me when Kuratko said that technology wasn't the driving force of innovation. While he does admit technology is important, he says the biggest driving force is "market-driven or customer-based innovations." Since I didn't know much about innovation, I always just assumed that technology was the biggest factor but after Kuratko explained, I can see why it isn't.
One of the questions that I would ask Kuratko is what he considers to be the biggest hindrance to innovation. He talked a lot about misconceptions but I'd like to see what he thinks prevents innovation the most. The next thing I would like to ask him would be which arena of creativity he believes to be the most important. They all seem crucially important but I wonder which one he puts above all the rest.

Monday, January 25, 2016

Top 5 World Problems

Top 5 Biggest Problems:
1. Poverty
2. Pollution
3. Water
4. Food
5. Disease
I believe poverty is the biggest issue on this list because if nobody was living in poverty, I think everybody would be living much healthier lives which would prevent a lot of the other problems that I currently have listed. Pollution comes in as the second biggest issue because pollution causes some of the other problems I have listed. Pollution can contaminate food and water that would otherwise be great. With a lack of pollution, it would be easier to help those in need. I have water listed above food primarily because you can live longer without food. If people don't have water to drink, it provides a serious threat to day-to-day life. Food is almost as important as water but I don't see it being above water. Disease is the last issue I have listed because if we can somehow solve the first four issues, I think we would see a huge decrease in disease around the world.

Top 5 Best Solutions:
1. Pollution(tax breaks)
2. Water(wells)
3. Food(aid/less wasteful)
4. Disease(funding)
5. Poverty(government budgets)
I think tax breaks would be something really easy to implement and it would really motivate polluting companies to become more green so that they can save more money. It's a win-win solution for everybody. Wells for water would be the next best solution because it's a gift that keeps on giving. They would help thousands of people and it wouldn't be ridiculously expensive. Humanitarian aid for food is listed below water because I imagine it would be more expensive than making wells. If you took a city in a third-world country, someone would have to build a well once and that would be it. However, we would have to continue donating food when it runs out making it harder to do. I have funding for disease as fourth mainly because nobody in the government seems to have much of an interest in providing funding. They're busy getting money for their own interests and not making a real difference. This is also the reason I have balancing government budgets for poverty as the least possible solution. Countries, particularly the US, are so divided today and can never agree on anything so I would find it hard to believe if two sides came together to come up with a comprehensive plan to stop poverty.

Sunday, January 24, 2016

Week 3 Reading Reflection

I think the most confusing part about Chapter 2 was when Kuratko was explaining the process of metacognition. The whole idea of it was a little bit confusing and sounded almost like cognition inception. If I understand it correctly, metacognition isn't explaining what makes an entrepreneur do something, but rather how the entrepreneur comes up with the ideas that he has in the first place. It's a really confusing concept, especially in terms of entrepreneurship.
One of the most surprising and interesting aspects of this chapter was the paragraph talking about psychic risk. This was talking about how entrepreneurs always take risk but most of the things that they risk can be replaced, like money. Psychic risks differs in that it can affect a person permanently because they may not have the confidence to ever take risk again, which is a crucial aspect of being an entrepreneur.
One question I would like to ask Kuratko would be which way of dealing with stress he finds so effective. It's obviously going to be different for everybody but it would be interesting to see what an expert finds to be the best method. That way I could try it and see if it works well for me. Another question I would ask would be what he found to be the most difficult part of following both moral standards and the law. He talks about how they overlap but it's very easy to cross the line and ignore one of those aspects. I'd like to see if he ever had any difficulty staying within those lines.
I unfortunately couldn't find anything I disagreed with Kuratko on in this chapter. When he talked about the dark side of entrepreneurship and the ethical aspects of it, all of the risks and consequences made sense to me. This chapter didn't seem very opinionated and was mainly just stating facts. Hopefully when we get into the deeper stuff in the book, there will be more opinions that I'll be able to take a stance on.

Saturday, January 23, 2016

Identifying Local Opportunities

1. I found my first opportunity in an article titled "Dole salad recalled in Florida, 20 other states after deadly listeria outbreak" by the Orlando Sentinel. The company Dole in Ohio had to recall several of their salad products around the country due to this outbreak. It began in July but the connection to Dole was made fairly recently after listeria was found in a bag of salad at a grocery. Listeria can have deathly effects on the elderly, pregnant women, and young children. This problem effects both the consumers who have been harmed from consuming the salad and the suppliers who will likely experience a decrease in sales. This could create an opportunity for other salad suppliers to ramp up their sales while Dole is experiencing this setback. The article can be found here: http://www.orlandosentinel.com/business/consumer/os-ap-florida-retailers-recalling-dole-salad-listeria-outbreak-20160122-story.html.
2. The second opportunity I found was in an article titled "Airlines cancel thousands of flights as big storm advances" by the Miami Herald. With the recent blizzard that's been hitting the northeast US, thousands of flights have been delayed or cancelled. This is leaving tons of unhappy and dissatisfied customers in airports along the east coast. The opportunity I discovered was for hotel companies in these areas. It would be smart of them to lower their prices for a little while so they can fill up their rooms with people who can't fly out. People would much rather stay there than an airport terminal. The article can be found here: http://www.miamiherald.com/latest-news/article56192835.html.
3. Another opportunity I found in the Jacksonville Business Journal was titled "Starbucks opens 528 new stores in a quarter, profit falls 30 percent." It described how Starbucks had opened up hundreds of stores but compared to this quarter last year, profits were down significantly. This could really hurt the Starbucks franchise if this trend continues. This creates an opportunity for several groups. It could force Starbucks to come up with better marketing schemes. It might also be a good chance for competitors to lower their prices and really hurt Starbucks. The article can be found here: http://www.bizjournals.com/jacksonville/blog/morning-edition/2016/01/starbucks-opens-528-new-stores-in-a-quarter-profit.html.
4. One opportunity I found was in an Orlando Sentinel article titled "Orlando airport aims for greener environment." The article talked about how big the Orlando International Airport really is. It would be the second largest city in central Florida if it were classified as a city. It is also not a very efficient building in terms of energy use, as it relies primarily on fossil fuels. The goal is to turn it into a greener airport in order to help out the environment. The opportunity here exists for companies that develop green energy. They could sell some of their technology to OIA in order to help them out. It would be a win-win situation for both sides. The article can be found here: http://www.orlandosentinel.com/news/os-cfb-cover-orlando-airport-environment-20160123-story.html.
5. The last opportunity I found was in a Pensacola News Journal article titled "Charter schools cost taxpayers, produce mixed results." This article talked about some of the mixed results that charter schools have had so far. In Escambia county, they have really failed and the less there are, it would be for the better of the school district. The opportunity here exists for public schools to show that they can be better than charter schools. This will hopefully move students back to public schools and prevent a waste of taxpayer money. It would also be an opportunity for companies that tutor students if there are so many students in charter schools that need help with their studies. The article can be found here: http://www.pnj.com/story/news/local/education/2016/01/23/charter-schools-cost-taxpayers-produce-mixed-results/79070036/.

Friday, January 22, 2016

Very Short Interview No. 1

I interviewed Dr. Fogarty for this assignment, who is a chiropractor in Orlando. I've been going to him for several years and he's been in business for many more years. These are my questions and his responses:
1. What was the hardest challenge of starting up your own business? "Overcoming the fear that you will fail."
2. What should my expectations be in this course? "That you will get good insight into what it takes to go out on your own and be successful."
3. What’s the most rewarding part of being an entrepreneur? "The freedom to make your own decisions and be responsible to yourself."
He was really happy to help with this assignment and answer my questions. It was really neat to gain some insight on how to become a successful entrepreneur. He was a great example of somebody who is an entrepreneur and also a small business owner.. I'm excited to come back to him for future interview assignments and see what I can learn.

Monday, January 18, 2016

World's Biggest Problems

1. Terrorism- This has been one of the largest problems facing the world over the past 25 years. It's caused the deaths of thousands of innocent people and not much has been done to stop it over the past year. One of the worst parts of terrorism is that it's effects occur so suddenly and without notice. I think a solution to terrorism could be training the militaries of the nations where terrorism is primarily located in. That way those nations will stand a better chance of fighting it and avoid being taken over.
2. Drugs- Drugs are too widespread and popular in today's society. They can take over teenagers' lives so quickly and do so much damage. One of the biggest problems is marijuana because it is the most common gateway drug into doing harder drugs like cocaine. One solution to combat the drug problem is more education and not legalizing marijuana.
3. Divorce Rate- This is one of the biggest problems because it makes life so much more difficult for children. They grow up always having to deal with two different families and never get to spend time with their parents together. It can hurt the children because they might not have a good example to follow their whole life. It's hard to come up with a solution for this one but perhaps more education on marriage and the consequences of divorce.
4. Lack of Government Leadership- Back in the 80's, parties and nations that disagreed with each other would come together and compromise on different issues. Now it seems like groups that disagree are proud of not working together. This is extremely consequential because nothing ever gets done anymore when both parties are in power. One solution to this problem would be electing the people who are willing to work with their opposition.
5. Poverty- One of the largest problems, particularly in the US, is that the poor are getting poorer. People can't survive with the money they're making and it becomes almost impossible to succeed. Even half of the world population lives on less than $2 a day. One way to overcome this problem would be to make government budgets and taxes so that they provide equal opportunity for everybody to succeed.
6. Hunger- According to the UN, around 21,000 people die every day due to hunger. People in Africa hardly have any food to eat while those in the US waste half of their meals. There are people all over the world who have to think about where their next meal is coming from. One solution to this problem would be increased humanitarian aid and not being so wasteful.
7. Water- Around 1 out of 7 people don't have access to clean drinking water. Like food, if you don't have access to water, you won't survive. In developed countries, we take water for granted and don't think of the consequences that so many people face. A solution to this problem would be increasing the amount of wells in third world countries.
8. Education- In the US, education has taken a major turn for the worst. We force kindergarteners to take standardized tests when they can't even grasp how important what they're doing is. Education was much better back before common core began. While education has suffered here, it's even worse that there are some people who don't have access to any education. One solution to this would be going back to the way education was back in the late 20th century.
9. Disease- Cancer and heart disease account for so many deaths around the world. What's scary is that there are some diseases where we aren't even close to a cure. Unless we do something about it, disease will continue to kill millions of people. The obvious solution is to invest more money into research for cures.
10. Pollution- While this isn't a problem everywhere, it takes a huge toll on the places where it's abundant. I can't imagine having to walk around China with a mask on because the air is too dangerous to breathe in. The people or groups that cause the pollution don't even seem to care about what they're doing. One effective solution could be giving tax breaks to companies that use alternative energy sources that don't pollute.
If we don't do anything about these problems, our world could end up like Wall-E's:

Sunday, January 17, 2016

Bug List

1. My iPhone 6 charger is too short and therefore I can't use my phone in bed while it's charging.
Why? Apple probably wants its consumers to buy an extension cord and spend more money.
2. The shower in my dorm takes way too long to heat up.
Why? The energy used to heat up the water might not be efficient enough.
3. There are still too many mosquitos outside when I try to set up my hammock.
Why? Gainesville hasn't had a big freeze yet this winter.
4. There are too many people in Turlington that are handing out fliers and being annoying.
Why? It's the best place to spread awareness for an organization
5. None of the Marvel Studios movies are on Netflix like they were supposed to be starting in 2016.
Why? It's probably difficult for Netflix to negotiate contracts.
6. There aren't any busses that go to Lake Wauburg on the weekend.
Why? It's probably difficult to get funding for a bus like that for seven days a week.
7. The gym has been packed for the past couple of weeks.
Why? It's a common new years resolution for people to start going to the gym.
8. Papa John's in the Reitz Union doesn't always have breadsticks ready when I go there for lunch.
Why? They probably don't have enough people working to always have breadsticks ready.
9. In the washer room at the Murphree Commons, I often have to wait to use a washing machine.
Why? There are too many people doing laundry at the same time.
10. I'm constantly dropping the uf wifi.
Why? The wifi connection isn't strong enough everywhere on campus.
11. If there is someone without an iPhone in a group chat, the messages aren't deliver and received as efficiently.
Why? It's hard to get two different phone systems to work together.
12. Facebook requires people to download a separate app purely for messages.
Why? There are some people who only use Facebook for messages.
13. There are too many people at UF who think Kanye West is an ignorant rapper.
Why? They probably have only heard a few songs by him and haven't tried to listen to any of his albums.
14. The MyMathLab website is not user-friendly at all and really difficult to use.
Why? It's much harder to do math problems online and format answers correctly.
15. There aren't enough public restrooms on UF's campus.
Why? It might cost too much money to have more public restrooms.
16. There aren't enough quality choices at the dining hall.
Why? It's much easier to make cheap food.
17. I have trouble falling asleep at night a lot.
Why? I sleep in the day too much.
18. I have to use several different methods to mark my attendance in classes.
Why? UF hasn't come up with an app or one method for everybody to use.
19. I can never get my online classes to stream live.
Why? Canvas hasn't made it clear enough on how to do that.
20. The UF Infirmary isn't open as much as I would like it to be.
Why? There probably isn't enough demand for the infirmary on the weekends.
I actually had a really tough time with this assignment. I'm a pretty positive person so thinking of negative things was really difficult. It did make me think of things that bothered me that I don't think about all that often.

Saturday, January 16, 2016

Week 2 Reading Reflection

I think the biggest surprise I found in the reading was when Kurakto mentioned how entrepreneurship has been the agent of change throughout history. It totally makes sense but you never really think of it like that. Technically, man discovering fire and learning to use it was entrepreneurship. It's been the driving force that's changed humanity over time and will continue to be for many years to come.
One thing that Kurakto mentioned that I tend to disagree with is when he tried to claim that entrepreneurs don't usually fail. He cited a study that traced thousands of business over 16 years and found that most of them were still surviving. This makes it seem like the course was easy for those entrepreneurs. Although most of them were still around, I'm sure that the vast majority of those businesses faced multiple failures before becoming successful. I think it would have been better if Kurakto talked about the ability of entrepreneurs to move past and overcome failures.
The main thing that confused me was when Kurakto was talking about the Entrepreneurial Revolution. Earlier he mentioned that entrepreneurship has been the agent of change throughout history. So then why in the twenty-first century are we experiencing a revolution if it's been happening this whole time? He compares it to the Industrial Revolution, but wasn't that entrepreneurship in a sense? Maybe the twenty-first century has just experienced more entrepreneurship than past centuries have. I'm sure he would be able to provide an explanation.
I think one really cool thing to ask Kurato would be whether he considers himself to be on the side of micro or macro entrepreneurship. I can understand both sides and see the benefits of each but it would be interesting to see where an expert stands on that issue. I would also like to ask him what he thinks has been the biggest change to entrepreneurship over the past century. He talks a lot about how people began to recognize entrepreneurship in the eighteenth century but I'm sure there were some large differences back then. It would be cool to see what he thinks has been one of the more drastic changes in the past hundred years.

Wednesday, January 13, 2016

My Entrepreneurship Story

During my senior year of high school, I worked at a local McDonald's. I got the job primarily because my dad knew the owner of the franchise. I've met and worked with the owner a few times and I think he fits the definition of an entrepreneur pretty well. He is extremely strict but never unfair in his work when he comes to visits the stores. He is very quick to respond to any e-mails or problems and when he wants something done, he makes it happen. I think one of his qualities that makes him a great entrepreneur is that he rewards his employees for their work. I've gotten gift cards from him for the holidays and for graduating just so that we knew he cared about our work.
I signed up for this class mainly because I have an interest in the entrepreneurship minor and wanted to see if it was right for me. It seems like this will not be like any class I've ever taken before and I'm really excited about that. The class is set up so that the more work I put in, the more I'm going to get out of it. I hope that during this class, I can really understand what it means to be an entrepreneur and hopefully use the skills I learned to be successful if I ever owned my own business.

Here's a picture of my former place of employment:

Monday, January 11, 2016

Introduction

Hello there everybody! I'm coming writing to you from Gainesville, Florida on this cold January day. I'm originally from Orlando, Florida which is about two hours of south of here and likely five degrees warmer. I lived there for 18 years in the same house with my brother, sister, and parents. My parents both still live in the same house while my brother just bought a condo in St.Augustine and my sister lives with her husband and son in Panama City. We're a very closely knit family that enjoys watching Seinfeld, walking around the neighborhood, and listening to classic rock. Starting off as a freshman at UF, I will be majoring in finance and hopefully minoring in entrepreneurship and real estate. I hope to get involved with FLA, Cicerones, SFG, and hopefully more groups. I'm particularly excited to study abroad this summer in the lovely city of Dublin. I've been to many states in the U.S. and a few countries like Spain and Canada but I really would like to explore more of Western Europe. I don't really have much of an idea of my dream job yet but I could see myself working in commercial real estate or as a financial advisor. I could also work for my father who has his own advising business. I'm a very outgoing person and I love meeting new people and speaking in public. Some of my favorite things in the world are Boston sports, classic rock, ultimate frisbee, playing the piano and relaxing in my hammock. Thanks for reading and I hope to get to know all of you soon!
-Matthew Iandoli