30A – Final Reflection

1) Read through your posts from this semester. Recall all of the experiences you've had along the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread. What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

I think the most formative experiences came from the interviews and elevator pitches. Interacting with others and receiving their feedback is the most important part of the entrepreneurship process in my opinion. I really enjoyed coming up with these ideas and discussing them with others and I'm proud of myself for keeping up with the assignments and getting out of my comfort zone to interview others.

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

I think I have learned a lot through this course, but would only think of myself as an entrepreneur if I were really considering opening a business and being my own boss. I think I would need to sacrifice a lot more and realize my dreams before giving myself the title of "entrepreneur". I am also really proud of myself for being able to at last spell entrepreneur without second-guessing myself!

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

Pick a topic that interests you and affects you personally. We are more passionate about these things than, say, curing world hunger (although that's a great goal, it's not tangible and difficult for us to visualize). Consider doing assignments at the beginning of the week because it can be quite stressful to come to a Friday and want to relax when, oops! You realized you forgot you had three assignments due in three hours! But the most important thing is to just choose something that interests you because the course will be very boring if you don't.

29A – Venture Concept No. 2

Opportunity:

Students have the need for access to a hot and nutritious meal throughout their busy days on campus; the solution needs to be affordable and convenient for them because students are becoming aware of how much money they are spending on food that isn't great; buying food everyday or even a couple times a week is not sustainable on a college kid's budget.

Innovation:

Heating stations in combination with frozen food vending machines would make it more convenient for students who pack a lunch to enjoy their leftovers on campus as well as for students who want to avoid a long line and overpriced meals but still want something satisfying for lunch.

Venture Concept:

Students will appreciate this new addition to campus because it is easier on their wallets, almost as convenient, and a much more nutritious option. Unless students are fully aware of the option of heating stations, it may be difficult for this idea to be successful, so advertising is a must. If students aren't aware of this option, they will continue to purchase meals from the various restaurants on or near campus.

The Three Minor Elements:

My most important resource is my connection to a leader of student government. She can point me in the right directions in order to get this idea implemented on campus.

My next venture might be to begin implementing these heating stations and frozen foods vending machines in other areas or schools.

I don't know where I will be in 5 years but I am sure this venture will help me in the future because I am now somewhat familiar with the process of becoming an entrepreneur.

Provide a summary of the feedback from your last venture concept post:
My peers unanimously agreed that my venture concept was very clear, understandable, and to the point. There was no constructive criticism. In the "What's Next" post, my peers also agreed that college campuses are the best place for the heating stations, although one student did consider other college campuses as new markets which I had not considered before.

What did you change about this venture concept based on feedback from your last venture concept?
I re-read my venture concept looking for something to add, delete, or change, but I feel that it is very clear and to the point and I don't think I would change anything about it.

Source: CudaKitchen

28A – Your Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

I would plan on implementing the heating stations across campus and then leaving when I graduate. I don't expect to make any money off of this product and see no way I can benefit from it after graduation.

2) Why have you selected this particular exit strategy?

It's the only one that makes sense.

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

I think it makes this project not much of a priority for me since I will not benefit from it in a year from now. It's a very short term goal that won't do much good for me but can help many other students for years to come.

27A – Reading Reflection No. 3

1) You read about an entrepreneur:

• What surprised you the most?

When I'd first heard of Elon Musk, I thought it was a men's cologne. Since then, I've come to learn that Musk is not a scent, but a person. In all seriousness, I was most surprised to learn that Musk studied economics as an undergrad! I find this particularly interesting because this is my undergrad major also,

• What about the entrepreneur did you most admire?

I really admire that in addition to earning a BA in economics, he also earned a BA in physics, and then continued his education to work towards a PhD in energy physics. You have to have some kind of motivation and will to live (both of which I feel that I lack) in order to pursue education as he did.

• What about the entrepreneur did you least admire?

I least admire Musk's success, or lack thereof, in marriage and family life. I really hesitate to write my thoughts here, but I disapprove of Musk's divorce especially since there are five children involved and also his seemingly non-committed relationship with actress Amber Heard.

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

See above.

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

Dedication, hard work, communication, and a touch of genius are all competencies that Musk has exhibited through his education and career.

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

I don't think I was every confused.

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

What motivated you through college? Did you have an end goal in mind? Did you know what you wanted to do when you were 20 years old?

I struggle answering these questions for myself, so hearing the answers of someone successful would be beneficial I'm sure.

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

I think Elon Musk would say that there would be no reward without hard work! Good things don't come easy. And I absolutely share that opinion.

26A – Celebrating Failure

Our friend, Thomas Edison, once remarked -- rather famously! -- that he didn't fail to invent the lightbulb 1,000 times. No! He just discovered 1,000 ways that didn't work. 

In this exercise, bare your soul.

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. 

2) Tell us what you learned from it.  

3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were just a few months ago?

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This semester has been a time of great growth for me. I feel that I have been pushed to my limit several times but each time I think I grew a little more as a person. That hasn't always been reflected in my grades, but I think that as I am lying on my death bed, I don't stress about the grades I did or didn't get but rather reflect on how I lived my life. I'd like to break this post into a few sections in order to show how I've grown in different areas of my life through failure.

Grades

This is one area of failure we can all relate to. In my economics classes I've not done as well as I have in the past. I have received C's and B's and that's not something I'm used to. Regardless of how much effort I've put into my assignments, I feel that i always come up a little short. The same goes for my Chinese class; remembering characters, tones, Pinyin, and the endless grammar rules feels overwhelming. We have quizzes once or twice a week, so it's difficult to stay on top of it all.

Work

As a pharmacy technician, I'm always learning something new. Whether it's how to handle insurance or what each drug does, each day is full of potential to learn. And oftentimes I've failed to learn due to stress or how busy we get.

Spiritual

I've noticed that when my prayer life suffers, so do the other areas of my life. And I think perhaps that's the reason for being constantly overwhelmed and not being able to manage my life as well as I think I should be able to. I feel tired 99.9% of the time and so I neglect my readings and prayers more often than I'd like to admit. In this way, I feel that I have let myself down.

25A – What’s Next?

Existing Market

I think the next step for this idea is to simply follow through; implement the heating stations in one area of campus; if students like it, we can invest in more heating stations so that the majority of students can have access a cheap, hot meal. There will be less waste since Florida Gators can bring a meal from the night (or three) before and enjoy it on campus instead of forgetting about the spaghetti from a few days ago and remembering only once it's spoiled.

After we have decided whether or not this idea's benefits outweigh the cost (or at least break even), we can then possibly begin reaching out to other schools and bring this idea to them, thus resulting in less wasted food and healthier, richer students.

New Market

I think that anything outside of a college or university setting would qualify as a "new market". Examples could include a place of work or even grocery store. I don't think my idea would work as well in a public area since it depends in part on users cleaning up after themselves and I don't trust the general public to do that. College students know who is using these heating stations: college students. And we trust each other for the most part. A large company could find heating stations useful, although not practical.

24A – Venture Concept No. 1

Opportunity:

Students have the need for access to a hot and nutritious meal throughout their busy days on campus; the solution needs to be affordable and convenient for them because students are becoming aware of how much money they are spending on food that isn't great; buying food everyday or even a couple times a week is not sustainable on a college kid's budget.

Innovation:

Heating stations in combination with frozen food vending machines would make it more convenient for students who pack a lunch to enjoy their leftovers on campus as well as for students who want to avoid a long line and overpriced meals but still want something satisfying for lunch.

Venture Concept:

Students will appreciate this new addition to campus because it is easier on their wallets, almost as convenient, and a much more nutritious option. Unless students are fully aware of the option of heating stations, it may be difficult for this idea to be successful, so advertising is a must. If students aren't aware of this option, they will continue to purchase meals from the various restaurants on or near campus.

The Three Minor Elements:

My most important resource is my connection to a leader of student government. She can point me in the right directions in order to get this idea implemented on campus.

My next venture might be to begin implementing these heating stations and frozen foods vending machines in other areas or schools.

I don't know where I will be in 5 years but I am sure this venture will help me in the future because I am now somewhat familiar with the process of becoming an entrepreneur.