Elevator Pitch #3

Here is the link to my third and final pitch.

Reflection

Three people said that I needed to make the pitch more conversational, as if I was talking to one person. That made sense so I decided to try and do that as well as I could, while still making sure I would be able to give this pitch to any number of different potential investors. I did not want to personalize it too much to make it seem obscure to some investors, but also didn't want to leave it too vague so that no one could feel connected. That was about the only real feedback I received about the last pitch.

What I Changed

Like I just said I tried to make the pitch more personal and conversational from the last one. This was thanks to the advice I received from the comments on the last pitch.

Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 
• Describe what kind of product offering you believe should be next. What's the next thing your customers want?
• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.
• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
• Describe what design/usability changes you'd make to the product. 
• Describe why you think this product would make a good addition to your current product/service offering.

Revenue Drivers

Advertising	Donations	Subscription	In-App purchases
Selling ad space	Self explanatory	Premium Membership	Partner with bars for BOGO deals
Promotional Events	Ex. Wikipedia	More deals available
Advertise for a bar		Point  System
Advertise for a restaurant		Badges for special achievements
Promote Special Events

With my app the next thing customers would probably want would be to  not only show food deals and special events, but also find bars that would be interesting to go to. This would improve customer experience  because they would be able to use this app for more than just food. It would increase switching costs because they would have to have two apps to my one. It would foster customer loyalty because they now have more needs being met than before.

I have an app as my product so it is not available on Amazon.

The design for my product will be strictly military. Meaning no waste and everything has a purpose. I want the app to tell consumers the information they need and not confuse them about all the minor details.

I think adding bars/clubs to the mix will make a good addition because people will now be able to plan an entire night out using one app. Not only this, but they will also be able to save as much money as possible using the deal of the day function.

Growing My Social Capital

Person #1

1.       Name: Jose Background: computer science and statistics major

2.       Slot Filled: Domain Expert

3.       He is a new co-worker of mine and I was working a shift with him and started talking about majors and when I found his out I started asking more questions to see if he could help me.

4.       I asked him if he could help me learn how to code an app and he agreed. He did not ask for any monetary return because he really enjoys coding and wants to be able to master it. He thinks teaching will really help him gain a new perspective on how to code.

5.       With his help I will actually be able to get my app off the ground and functional. I do not currently know how to code which is a problem when making an app. However, now that I have someone to teach me the plan becomes much more feasible.

Person #2

1.       Name: Steve Background: Owner of a popular pizza restaurant in Gainesville

2.       Slot filled: Important supplier

3.       One of my friends did his physical therapy and got to know him pretty well. I asked her if she knew of any way to get into contact with him. She told me of an event he was holding and that she could introduce me.

4.       I showed him my idea napkin and asked for his opinion on the type of app I want to make. He gave me advice and his opinion on what makes an app a success and how delicate the food industry can be. He thinks in theory my idea is good, but it will be hard to overcome competition and gain traction in the market.

5.       He will help me exploit my opportunity because he offered some really helpful information on the market and what to expect.

Person #3

1.       Name: Mark Jacob Background: Advertising Major

2.       Slot Filled: Expert on the market

3.       I met him at a bar and used the communication strategies I learned from the book I read for the second reading reflection to start up a conversation. I asked what his opinions were on advertising to college aged individuals.

4.       He helped me realize the importance of advertising, but also that advertising alone will not make a product a success. He told me I have to direct my attention to a way that people in the demographic will see it. Ads are not effective if they are never seen by the target audience.

5.       He gave me a whole new understanding on the world of advertising and made me realize that if I ever want to get serious about this idea I would seriously need to consider hiring an advertising specialist.

I have never really done much networking in the past so this was a unique experience. The book I just read for the class really helped me get out there and start conversations with people I did not know and make them feel normal. It also helped knowing people who know people. I think that will be an important lesson. It never hurts to reach out to friends and family to see if they have any potential contacts that will help you out. Friends and family are some of the most likely to help you out, so if they know anyone and get you in contact with them they will help you out as much as they can.

Reading Reflection No. 2

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

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

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

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

________________________________________________________________________

1) For this second reading reflection, I read How to Fail at Almost Everything and Still Win Big. The general theme of this book is that it is okay to fail at things. Scott Adams talks a lot about how in the corporate world he got promoted several times because he was bad at his current job, but reached out to people above him and got promoted. Even with average competencies he managed to get promoted despite failing at, as the title suggests, almost everything he did. He also talks about his comic career and how he has mediocre drawing and writing skills, yet he started a small following that has exploded into worldwide popularity. He speaks about the fact that if you can combine skills you can overcome obstacles and make yourself a more desirable employee or entrepreneur.

2) In my opinion the book has enhanced what we have learned because it talks a lot about building your human capital. He breaks down his entrepreneurial past and discusses how even when he failed at many, many ventures, he learned a lot of marketable skills and knowledge in the industry. Adams even used the phrase secret sauce and idea napkin.

3) If I were to make an exercise based off of this book I would require people to interview five people. In these interviews, you would have to ask each person about one of their most notable failures and how they have grown from the situation. I think it would be useful to see that failure is not the worst thing and it would be cool to see that you can overcome anything you might go through.

4) The biggest surprise that I had from this book, was that Adams failed his way to better and better jobs. He eventually hit barriers, but would simply change jobs before he would get fired. He managed to make his way into upper management jobs simply because he was able to communicate with his superiors and find ways to improve himself through working.

Idea Napkin No. 2 - The Napkin Strikes Back

1. Me? - 

I am highly motivated when I find the right venture. I am an excellent communicator and leader and can motivate others to reach a goal. I have worked in management for a year and have managed up to 45 people. My aspirations with this business are to develop something that can be useful for others because I like to help people and eat, sometimes at the same time. I am not looking to make a huge monetary gain but it would be nice to make a little side money with my first entrepreneurial venture.
 
2. What am I offering to customers? - 

The product I am offering to customers is an app, Food for Thought, that will aid in deciding where to eat or go grab a drink on a night out. It will split up the restaurants and venues by type of food offered (Italian, Mexican, etc.) and "Deal of the Day" to appeal to those who want good food but do not want to pay a lot for a meal out.

3. Who am I offering it to? - 

I will focus on individuals in the 18-25 year old age bracket, starting first with students at major universities (UF).

4. Why do they care? - 

Many college students eat out several times a week and generally go to the same places because it is what they know. My app will attempt to break this cycle and will also help students save money. Chipotle is a great place to go, but there is a cheaper alternative with a shorter line, with equally good food.

5. What are my core competencies? - 

I think the thing that will set me apart from other similar services is that I will have the multiple dimensions on choosing. Yelp you can view different types of restaurants and price ranges, however, it does not show deals which are important to college students. It also shows the chain restaurants more regularly than the small, local restaurants.

I think these five areas could work together really well. The college demographic is missing a food app directed directly at them. Plus my ability as a speaker and leader would allow me to gain traction and market value for my app. If I could get a solid foothold in the Gainesville/UF market, I could expand to other college campuses where students would  be interested in a similar product.


Feedback Memo

5 Takeaways

1. People are interested in my app
2. People tend to try to find cheap places to eat
3. People tend to go to the same few restaurants
4. People are interested in diversifying their palates
5. Advertising might be the most difficult part once the app is functional

Based on the feedback on Idea Napkin No. 1, I changed very little. All the comments were positive and seemed to fit the demographic I was aiming for. I took this to mean that my idea was solid and that now I just have to start gaining popularity at UF and I will soon have a huge app.

My Secret Sauce

My skills: As told by me

1. I am a great communicator both in private and public spheres
1. I have completed a communication studies minor, which involves taking 1 beginning and 3 advanced level public speaking courses.
2. I have served as a middle level manager for 6 months and have constantly communicated expectations from my boss to those below me
3. I have become better at one on one communication through practice and class work
2. I am a natural leader and like to push people to work toward a common goal
1. I was the captain of my soccer team from the time I was 10 until the end of my career
2. I have been promoted twice into higher level management spots due to my leadership abilities
3. I am competitive and constantly strive for success 
3. I have an extensive knowledge of food: both cooking and eating (Specific to my product)
1. I am constantly the person people come to for advice on choosing a place to eat or what is good at certain restaurants
2. I am passionate about my cooking and what goes into my body
4. I am calm under pressure
1. Even in stressful situations I maintain composure and refuse to take shortcuts
2. Pressure helps me achieve my best work, as I do not want to half ass something important
5. I am willing to put in the work
1. In this weeks lecture a lot of the conversation was on betting on yourself and putting in the necessary work to get a venture going
2. I have noticed that with my promotions has come a new mindset and willingness to strive above and beyond the call of duty.

My skills: As told by others*

1. Interview #1: High School Friend
1. In this interview my friend pointed out that I was convincing and well organized. We talked about how in high school I was the one to plan events or organize our friend group to do something. He said I was able to communicate effectively with everyone to make sure we were all on the same page and showed up at the right spot (most of the time).
2. Interview #2: Current Roommate #1
1. This interview was with my current roommate who I have lived with since freshman year. We were randoms when we met so his opinion was based on me in college. He remarked that I have a knack for organization, in my own sense. He said that while I am not one of those people who are a neat freak, I never miss assignments or show up late to work shifts or group meetings. He pointed out that we have never had many issues together and he saw this as a result of my communication skills and willingness to talk things through.
3. Interview #3: Current Roommate #2
1. This interview was with my roommate who I have known since freshman year and we are currently doing the same major. He talked about my willingness for adventure and my strength when I find something I'm passionate about. We study abroad together and he said not many people would have dropped everything they were doing and plan a semester in Australia, but he knew I would. He mentioned that the second I got serious about going he knew it was a done deal because he saw the passion and that I would not give up until we made it.
4. Interview #4: My Twin Brother
1. This interview I felt was fitting because who knows me better than my identical twin brother, am I right? He talked about growing as an endless competition and that we constantly pushed each other and tried to one up the other. He said my competitiveness was a huge motivation for him and helped him reach the point he is at now. He was always the co-captain of the soccer teams we were on and he mentioned that he always saw me change my leadership style depending on who I was talking to and the needs of the team.
5. Interview #5: Best Friend at Work
1. In this interview my friend talked about my leadership style and ability to cultivate a positive atmosphere. He said that I am not an in your face leader and I trust everyone to do their job, however, if I need to get something done or make a point I can do so. He also mentioned my positivity at monthly training's, and just my aura whenever I'm working. He said it was easy to feel more upbeat when he saw me around.

*My phone apparently is not water proof and I lost my phone and all the interviews. I did my best to give a more detailed summary of the interviews I conducted.

Reflection

After doing the interviews, it appears that depending on the situation people see me in different ways. No one person stated all 5 of the skills I thought I had, however, they did mention one or two in some way. I think that my actions do depend on where I am, especially when comparing a friend from high school to my friend at work. These are two completely different levels of professionalism and communication so it makes sense they differ. I do not think I would alter my original list, I do think I would add organization somewhere into the list because it was brought up a couple of times.

Elevator Pitch No. 2 - The Return of the Pitch

Here is the link to my second elevator pitch, please comment on it.

My topic is that it is impossible to decide on a restaurant to eat at. I came up with the app "Food for Thought" to break down all of the restaurants in Gainesville by food type or Deal of the Day which would allow you to pick a place based on what kind of food you want or what place had the best deal.

The feedback from the last elevator pitch was ok. It had more to do with the app than improvements for the pitch. However, everything the one person presented as improvements made sense.

In this video I changed the following:

• I used my phone to hopefully fix the problem of background noise
• I stood up
• I wore something more professional than a t-shirt

Those were the only suggestions I received after the first pitch.