28A - Your Exit Strategy

There are many different factors that come into play when it comes down to an exit strategy within a business that you have created.  I think some of the factors include, how long-term will the business or idea last, can the business grow with technology or will technology pass it by as well as how large the business can become. 
My father sold his business after 36 years and made an enormous profit, and now he has started another business, the exact same type of business just with a new name.  I think that is the option I would choose as you already have the knowledge to do it, so you are essentially paying yourself a large profit and starting over again.  Yet, you still have the ability to pass it along to your children.
All businesses come to an end, whether it is hundreds of years or just a few months, so I would get out while on top and move onto the next idea.

27A - Reading Reflection No. 3

Inbound Marketing was a book that I really took a strong liking to.  A book about how to get away from the traditional methods of marketing such as calling randomly, door-to-door salesman and email blasts and how to usher in the new methods of marketing, that are also much more cost effective, in social media posts and other forms of social media such as a hashtag.  This new form of marketing is everywhere in the world, even when you go to football games they post pictures from Instagram of people tailgating and the #PublixTailgate and they select a winner for a $500 gift card.

26A - Celebrating Failure

Everyone has had countless failures in life, whether it comes from a lack of communication or just a lack of performance or effort.  The main failures I have had are from a lack of remembering to remember.  For example, just three weeks ago my cousin was having a huge engagement party at their house.  I was supposed to work on that Saturday and forgot to take the day off in order to attend.  Of course an hour into the party and I am at work and my phone is going crazy from my family asking where I am, so I had to rush out of work, shower and change and head over only to pull into an empty driveway as the party was over and everyone had already left...

25A - What's Next?

I am very glad that this assignment was apart of this class as I did not know in what other direction to really go after I had completed my invention and marketing the first product.  Many of my would-be customers were just about as flabbergasted as I was when it came down to other products and how to grow the company into other subjects within the same industry.  One customer offered an idea, making different options much as the garbage disposals that go in your sink work.  You need to be able to offer three different levels of the same product, one that is cheap and noisy, one that is moderate in both categories and one that is silent but expensive.

The other way we all decided that would continue to grow the company would be expanding into other industries such as hospitals, hotels and the workplace, instead of just a household product.  Another idea would be creating a service center as well as other products that deal with hygiene and bathroom products such as cleaning kits and personal care.

20A - Growing Your Social Capital

1) Josh Johansen - Marketing Director for plumbing installation company, 20+ years selling and retaining customers, domain expert.
I found and met Josh at my local Home Depot actually looking throughout the plumbing section and monitoring which of his companies products were selling more rapidly. 
I chatted with him for about 5 minutes about my idea and where I expected to be withing 5 years of launching.  He liked the idea and said to keep him updated throughout my process as he may want to get his company involved.

2) Michelle Klipper - Sales Manager for the same company as Josh.  Been in that position for 12 years now.  Marketing expert.
I met Michelle through the means of Josh as he gave me her contact information in order to help me with this project.
We exchanged emails and she stated that the money it would take to inform the customers about the product and how it works may put me in a huge hole up front but eventually, if it is a quality product, the sales will be profitable.

3) Mike Roell - Plant Manager for the same company.  Has worked in the warehouse for 40 years. 
Once again, Josh hooked me up with his plant manager.  It will be expensive to build prototypes and fill small orders but once it gets rolling it will become cheaper.

21A - Reading Reflection No. 2

The book I chose to write about is called, "The 7 Habits of Highly Effective People".  The theme of the book is the main habits of the more successful entrepreneurs of this era and how those habits have helped them achieve the most they can achieve.  The book navigates through how these people discovered, unlocked and mastered their 7 habits that have made them amongst the most successful people on Earth today. 

This book absolutely enhanced what we are learning in this class as it ties directly into what we are learning about.  Entrepreneurship is not just about how to create a business and be successful, it is about how to enhance your traits and build habits that will help you be successful for years to come.

The exercise I would design would be based off of a model experiment.  An experiment where you create your business with and without the 7 habits and predict the success rates of each of those businesses. 

The biggest surprise was how simple most of the habits are.  They are everyday values that have seem to been forgotten but they really are the difference maker when it comes to success.

16A - What's Your Secret

1. Experience - I have so much managerial experience as well as experience handling difficult situations and making on-point decisions when it comes to business and handling different personalities.
2. Personality - I have a personality that is very outgoing and knowing how to make people laugh and smile.
3. Desire - I have a huge desire to make things out of nothing.
4. Success - I have an uncanny ability that is second to none in making bad situations successful ones.
5. Conversationalist - A word that is not very common, I have an ability to hold a conversation with anyone about anything.

My fellow comrades had a good variety on what makes me special.  Three of them went back on my previously successful business ventures while the other two were more focused on the path that lies ahead and my current business venture.  Mainly the focus was on the fact that I have a great personality.  I have an ability to go out and talk to people and figure them out without saying too much.

I am such an outgoing person that I do not keep anything inside of me.  When I go out to do something I leave it all out there.  That makes the others around me very aware and keen on the type of person that I am which is why their interviews and my own were so closely related.  

15A - Figuring Out Buyer Behavior Part 2

This is a new invention so there is no alternative besides hiring an expensive plumbing company. 

This item will start in stores as it needs a tutorial, but as it becomes a popular item, our main source of sales will be online.

We will have a ton of after sales reviews as we need them to perfect our first generation of products.

14A - Halfway Reflection

This course takes a ton of discipline and planning in order to succeed.  It has definitely made me a more organized and also a more opinionated person already, I look forward to seeing how much more I will change and adapt.

Giving up is a common thing in my current field of work, boats and fishing.  I have seen too many people give up and fail to ever want that feeling.

Be organized.
Be percise.
Be ON TIME!

13A - Reading Reflection No. 1

I chose Mark Cuban mainly because I love how he see's business and the people that drive them, especially on the show Shark Tank.

What surprised me most was that he was a door to door salesman.
That is also what I admire most about him.
I do not admire how biased he is with new businesses sometimes. 
He encountered tons of failure along with homelessness and hunger.

He is very headstrong and business timing smart.

It confused me that he is now on the show because he seems to hate media.

What gave you your idea and how did you get it to explode?

Hard work is a must, not an option.

12A - Finding Out Buyer Behavior

The three people that I interviewed were about the same percentage as all of the other interviews conducted in this class.  Two of them agreed that the need is there and that this is a good solution while one was in accordance with the need but thought that the solution may be a bit difficult to market, sell and maintain due to various previously stated reasons.  It seems to me that the idea will become effective as 7 of the 10 potential customers I have spoken too said they would pay up to $100 or even more for the product, which is the price point that we were looking to sell the product for.  Many people said they would not Google or search a product like this because something like that does not exist, but, with a wide marketing plan they would be able to search it and easily find the product.

11A - Idea Napkin

1) After working for nearly a decade as a manager and boat salesman, I have learned the essential qualities of sales and negotiation.  What also comes along with being a commission only salesman, is the fact that you need to rely on yourself in order to make a living.  Budgeting is also a key factor in making ends meet, there is no set bi-monthly paycheck.  I believe that these skills will help the business take off while still being able to handle its finances in a responsible way.
2) The product works much in the same way as a garbage disposal does in your sink, except in your toilet.  The toilet will have two flushing options, one for just liquid and one that includes paper.  When the paper option is selected, the toilet grinds up the contents of the bowl, preventing any clog to ever occur in your pipes, likewise, pretty much any type of bathroom product can now be disposed of through the toilet.
3) I believe that all of the potential customers share one common and very simple goal, they do not want to deal with messy toilet clogs or the embarrassment of an establishment like a restaurant having clogged toilets.  I believe that it is an extremely common, and expensive, problem.
4) Who would not pay money in order to avoid clogged toilets, pipes and any other type of toilet related issues?  In my interviews I had people that were absolutely shocked how such a simple, yet great, idea can go so many years without someone thinking of implementing it.
5) The entire concept sets us apart from the rest of the world.  There is no product on the market today, or in ever for that matter, that does and saves the money that his one does.

I see this idea as being completely fool-proof.  There are people in the country that need this product and we are going to provide them with that service.  Although some people may not like the idea or the concept, we believe in it and will make it happen.

9A - Testing the Hypotheses Part II

After getting further into detail and conducting ever more interviews, the idea is not for 100% of the population that I initially thought would find it useful.  In fact, most people would prefer not to deal with the hassle of having another appliance in their homes that needs service, would need to be installed and having the possibility of breaking.  Of the 5 interviews I conducted for this part, only 2 would have used them in their businesses.  And both of these businesses were food businesses or restaurants.  The other 3, a local hardware store, a building supply company and a local bar owner said it was not worth the hassle and were all handy enough to fix the, “Not as common as you think”, clogging situation.  It seems that the idea, although still seems very profitable and popular, needs to be fine-tuned and marketed towards the right people and businesses. 

	Inside Boundary	Outside Boundary
Who is in/Out	Restaurants, households, hotels, other “clean” places with heavy traffic flow	Most retail stores
What is needed/Noy	A resolving issue to clogged toilets that can lead to a bad image for places	Does not apply to retail areas as much as a hotel or clean restaurant
Why it exists/Alternatives	Exists because of need and wanted of the consumer	Regular toilet, this is a new invention, not many alternatives

8A - Solving The Problem

Okay, a few problems with the concept derived from the 5 interviews.  Most people that had an issue were concerned with the cost of the product, installation, noise level, and one was just happy with the good ole fashion toilet. “If it ain’t broke, don’t fix it”. 

In order to counteract these issues, we will simply have our own company of welly trained staff to install and service the product, as well as a long outstanding warranty on parts and labor.  The cherry on top will be a 90 day satisfaction guarantee or your complete money back.  I believe that competitive, and great, customer service will keep people interested and happy as well as a no risk trial.

7A - Testing the Hypothesis

The toilet bowl garbage disposal idea can apply to pretty much every person whom has a toilet in their home or business.  It can help with all types of clogging and septic tank issues.

I chose 5 co-workers to interview about the garbage disposal inside the toilet invention.  Here is what they said:

1) Mike said that the idea is very innovative and can indeed be successful as long as the prototype works as well as it should work when you look at the idea and design.  He claimed that he would use it in every bathroom in his home as long as it is reasonably priced and the install is either a do it yourself or cheap to install.

2) Maria, whom has 5 children all under the age of 10 was begging for a product like this, her children are constantly clogging toilets and use way too much paper she says. 

3) Susan said that as long as people are disciplined, as they should be after using toilets and being taught how to use them their entire lives that this product will fail.  She is concerned about the price and the effectiveness of the product. 

4) Joey, who has a toddler and another baby on the way said he would not use the product until the children were older due to the fact that garbage disposals are extremely noisy and it will wake sleeping children, especially infants.  After I stated that the newer garbage disposals are much quieter, he agreed but cost about 3 times as much as a traditional one.

5) Brett said. “Bring it on”!  He stated issues with clogged toilets and has been waiting for an idea such as this to “invade” the nation.

After my interviews, it seems that there are definitely some faults with the idea and the productivity of it.  There are concerns with the noise factor as well as the price to install.  I think that people need to look more at the cost savings of a plumber to come in and fix problems and compare it to the install and cost of the unit.  I predict it to be paid for by itself after just one plumber visit.  I also think that electric to the pump could be an issue as no one usually has electrical plugs down by the base of a toilet and a wire running up to the vanity would look quite ugly.

6A - Identifying Opportunities in Economic & Regulatory Trends

1)      I found this article here: https://www.lifewire.com/most-current-trends-on-the-web-3486016

I think with all of the trends around GIFs and other social media things currently going around, there should be an app or way to create GIFs or emojis that are current to you.  An app to upload your own pictures and create your own GIFs and emojis to share with the world, personalize them.  I think that this targets all cell phone users and is extremely easy to exploit.

I see this because I see the need for it myself and I rarely use GIFs and emojis, so if that is the case than it must be a huge market out there.

2)      This is an idea that I have come up with and did not find an article. 

I think that companies and celebrities should be able to trademark and purchase specific hashtags.  Such as, say the Miami Dolphins own the “#GoFins”.  A royalty will be paid to everyone that uses the hashtag.  It is also away for people to make money, buying and selling hashtags much like we do for websites.  I think this applies to all large companies, sports teams and celebrities alike.

I see this need due to the fact that everyone is trying to get out there and make money, this is an opportunity for the rich to pay others for a quick service.

3)      Here is the article: http://www.businessnewsdaily.com/7671-regulatory-issues-changes.html

We are basically saying that making minimum wage and paid sick days needs to be a regular thing for all businesses.  It is unfair to walk into a new job and have to spend 6 months to a year before you can even start to accumulate sick/vacation days.  The fact that most jobs make you use a vacation day for being sick is a bit absurd as well.  This applies for anyone with a job and will catch on quickly.  We need an agency to go out and police companies for their sick days and vacation days.  Plus, no one wants to work with a sick person because they cannot miss a day, then the entire business gets sick.

This is a much needed item, especially as the new President is working on changing the structures of business and government in the near future.

4)      I work in the marine industry, EPA is constantly on our butts about disposing of oils, gas, diesel, cleaning products, etc.  There is absolutely nothing about the marine industry that is clean or does not harm the environment.  However, many of the changes they make, are without consulting or spreading news of the changes to marinas.  Therefore I am stuck finding myself trying to locate any new regulations they may have changed on a weekly basis.  In order to appeal to the marine industry, there should be a blog website or other source of information of anything people are hearing, both local and nationwide, about any new restrictions or regulatory changes.

This would help the entire marine industry and the environment equally.

5A - Identifying Local Opportunities

1)      $200K car's bulletproof windows foil burglar, deputies say

http://www.sun-sentinel.com/local/broward/dania-beach/fl-sb-dania-beach-six-car-burglary-20170921-story.html

This tells the story of a man who broke into 4 parked cars stealing thousands in items ranging from cash to jewelry before finally trying to enter a car with bulletproof windows.  He could not enter the car and frustratingly couldn’t enter the car.  The problem is obviously the 4 cars who were not broken into.  Tinting windows helps tremendously when it comes to blunt force impact with an object for breaking and entering vehicles.  Pretty much every caw owner has this issue in the back of their heads and it can be easily saved with even a clear protective film if tint is unwanted.

2)      In Venezuela, they were teachers and doctors. To buy food, they became prostitutes.

http://www.miamiherald.com/news/nation-world/world/americas/venezuela/article174808061.html

This is an article that is disturbing to say the least.  The economic disaster in Venezuela has doctors and engineers evacuating to other countries where they resort to prostitution in order to make ends meet.  The problem is simple and clear, things need to change and President Trump has warned Venezuela to help its citizens and protect them from entering this stage in life.  I think that this problem can become much larger if not settled and it can be settled by the U.S. government stepping in and trying to end it.

3)      Irma was a teachable moment for Miami-Dade. Have we learned its lessons?

http://www.miamiherald.com/news/weather/hurricane/article174721831.html

Considering Irma hit us just under two weeks ago, this is a very current issue that is still a problem today.  The article is about how ill-prepared we really were for Hurricane Irma.  Since Andrew, our building code has changed dramatically for the better, but it is still not where they should be.  This is an issue that effects everyone in Florida and one that needs to be addressed more often.  We need to take advice and always be ready for hurricanes, not wait until the mad rush and everyone is sold out of supplies.

4)      Medical marijuana shop opens in Dadeland area

http://www.miamiherald.com/news/health-care/article174561316.html

Medical marijuana was recently passed for the state of Florida.  This article is about how much the medical marijuana will help the state’s economy as well as provide jobs for local residents.  Medical marijuana is a proven concept that helps people with all types of social and physical ailments and disorders.

5)        Protect nursing home residents, not bad facilities

  http://www.miamiherald.com/opinion/editorials/article174764581.html

  Another incident involving preparedness and hurricanes.  The article discusses the fact that    most nursing home facilities do not have the means to survive a hurricane or even generators to  help make the residents more comfortable in natural disaster situations.  This is an ongoing issue and needs to be addressed.  We are not saying that every nursing home needs to be a self-sufficient fortress, but rather protect the patients and evacuate them for natural disasters.  

4A - Forming An Opportunity Belief

I have thinking about this need for quite some time now and this is a great opportunity to get some other opinions and thoughts on it.  This is an item that every single person on the planet should put inside each and every bathroom they have.  Think of a garbage disposal, but connected to your toilet.  You can throw anything you want into the toilet and when you flush, it will grind it up just like a garbage disposal in your sink, and flush it to your septic tank or to the sewer system.  There will never be another clog in your toilet ever again.  I see the demand for this product to be sky high as it will be the latest, and greatest, household item to hit the market since its sister item, the regular garbage disposal, was introduced.
I took the time to speak to three potential customers on the idea and here is what they had to say:
Customer #1 a restaurant owner:  I spoke with Mike about the idea, and he had nothing but good things to say about it.  He says it is almost a daily occurrence where people flush feminine products or paper towels down the toilets and clog them, sending in an employee or sometimes a plumber to clean up and solve the issue is not only time consuming but expensive and can give his restaurant a bad rap with “dirty bathrooms”.  He said the idea is innovative and with proper testing he would be extremely interested as it is a cheaper and more effective solution to his problem.

Customer #2 a local friend who has a septic tank:  I have known Hank since I was born, a local family friend in his mid-60’s with a lot of life behind him.  He was ecstatic with the idea as septic tanks are extremely finicky solution to sewage.  When there is no city sewer system, the people are basically left on their own to deal with sewage issues.  He told me that he constantly has issues with guest coming over and flushing too many times or too much toilet paper which backs up the septic tank and sometimes can even come back up through the shower drain, especially after plunging.  He said if this item were on the shelf and did not cost an arm and a leg, he would buy it immediately.

Customer #3 my father:  My dad loves the idea and is concerned with how much money it will take to jumpstart it, get funding, build a prototype and then go out and sell the brand new product to a world who has never seen it before.  He says that it is one thing to improve an existing product but a totally different challenge to create an entirely new product.
Reflection:
After all of the words spoken to with the three interviewees, I have learned that the product has potential and certainly fills a void in the industry.  It will safe time, money and a reputation or two along the way.

3A - My Entrepreneurship Story

Entrepreneurship has been in my family for some time now.  Both of my grandfathers started their own businesses and were successful, my father’s father started and sold one every few years, he chased the market.  My father started his own business at the age of 21 and actually just sold it about 18 months ago for quite a large sum of money, he is now retired at the age of 54.  I have always sought and learned the values of starting, operating, maintaining and growing a business from these three men.  I am now 24 years old and have had my own company, JLC Marine Management LLC since 2011.  I look after customers boats, keep the clean and make sure they are up and running as well as captaining the vessels for them.  The experience is a good one but also a scary one, waking up realizing you have bills to pay and no paycheck to pay them unless you get out there and make it happen.  I had no clientele at first, but through the full-time job I got in the marine industry, I met clients, enough to where I did not have enough time to work full-time and started working on my business full-time, plus overtime!  I am at the point where I would like to grow and hire an employee or too and this led me to this class.  I do graduate in April and this class was a must before I left UF.  I am honored to be in this class and am honored to be surrounded by other entrepreneurs and future ones as well!

2A - Bug List

Bug List
1) I know this may sound a bit repetitive due to the example given, but I absolutely cannot stand it.  The Starbucks on the corner of Davie Blvd and US-1 is the only one near me with a drive-thru.  These lazy Americans wrap the line 30 cars long almost a mile down US-1 during rush hour morning traffic!  The funny thing is, there are available parking spots and no line inside, laziness.
a. This is all caused from the lazy American way.
2) Slow walkers are something that drives me crazy.  Nothing can get my heart racing more than walking in a crowded Galleria Mall with distracted people walking at the pace of an injured turtle.
a. This is simply because people are stuck in their own worlds and should move to the side if they want to stop and talk or walk at a turbo turtle pace.
3) The, “5 minute”, wait.  The go-to wait time for this country no matter you are waiting for your doctor or waiting to get a table is 5 minutes.  5 minutes really means 5 minutes to an hour.
a. I believe this is because white lies are so common in the world today and people do not want to lose business if you say an hour wait.  But honesty is the best thing in the world and I would wait longer at an honest facility.
4) Distracted drivers could possibly be the sole concern for traffic jams and accidents.
a. Whether they are on the phone or messing with the stereo, every time you pass a swerving, slow driver, they are on their phone or stereo.
5) Rude employees are another major bug in my life.  When you ask a waitress or waiter for silver-ware, because they never gave you any in the first place is like asking for their first born.
a. Service employees are always so annoyed in life and they should change their career path if that is the case.
6) Boaters that do not know the rules of the water, they can cause accidents and still carry a sense of entitlement.
a. All boaters should be required to take a safety course just like getting a driver’s license.
7) Security guards when leaving retail stores.
a. They always check your receipt and are too lazy to actually check your bag to see if you stole, they should be held accountable for all thefts.
8) Doctors’ appointments are never on time, for the highest paid people in our country you would think that they could be punctual with their time.
a. They should spend more time caring about their patient’s time and less about the bottom line.
9) Foreign call centers and sales calls are getting out of hand.  They do not take no for an answer and will keep calling daily.
a. They should make the no-call list much stricter so that your phone number is not so easily accessible.
10) It is amazing that some of us still suffer from slow internet speeds.
a. We are all old enough to have put in our time in the 1990’s and early 2000’s to suffer through slow internet.  Internet should be lightning fast everywhere and providers are responsible for making that happen.
11) When your Word document freezes and you lose hours’ worth of work.
a. Once again, computer program companies and the creators themselves should have the proper technology in order to end this issue.
12) Another driving bug, slow drivers in the left lane or HOV lane.
a. These lanes are meant for faster or higher occupancy vehicles, do not drive slowly in them and the police should enforce this rule!
13) Driver’s that wait in the turning lane in order to cut in front of everyone going straight.
a. Another one that the police should enforce but especially because this is extremely dangerous and can cause fatal accidents
14) Junk mail and email is a daily occurrence that causes me to distract from my work and home life.
a. There should be some sort of mail police that allow you to call them and they can stop companies from sending junk mail and email, much like the “no-call” list.
15) Suck-ups and brownnosers, the fake ones that make your boss feel like they are the best thing since sliced bread.
a. We should be able to record and expose the things they say undercover without fear of losing your own job.
16) Change left in the washing machine, not money, just change.  Money left is like free money, change beats up your machines and sounds like a freight train is rolling through your house.
a. This one is solely on us, we should check all pockets before we put our clothes in the washing machine much like we do before we go through airport security.
17) Paying to park, nobody likes this besides the owners of the lot or garage.
a. We understand you need to make your money back for your investment, but that does not take away the annoyance!  We should offer more free parking and people would probably go out more!
18) People who talk into their text messages in public.  We get it, you do not like to text, but please wait until you’re alone to talk your texts!  Especially when the other person doesn’t know that Siri is reading their messages aloud.
a. Just another one that we all do that we should not do.
19) People who mumble, especially on the phone.
a. Learn to speak like an adult and open up your mouth and enunciate!
20) Last but not least, fads.  The coolest thing in the world, for about a month.
a. Stop trying to be like everyone else in the world and create your own path.\
Conclusion
Going in, I thought this would be a piece of cake!  Fast forward a few hours and it was a real struggle, that is a long list but I can say that I think I covered most of it for me anyways.

TEST!