13A- Reading Reflection 1

13A- Reading Reflection 1

1) You read about an entrepreneur:

In reading the autobiography about Nike’s founder, Phil Knight, I learned a lot about how his path changed along the way and the different challenges he faced motivated him even further. All of the obstacles and challenges that Knight faced contributed to the success that he has today. A few lessons I learned from Knight’s story was to take risks- Knight made sure to emphasize that taking risks is necessary for big time opportunities, and the best time to take risks is when you’re young and have little to lose. I also learned from Knight that having a mentor is helpful in the long run- having someone who has complimentary skills and wisdom can often help you tremendously in your success in the future. This person also must display trustworthiness in order for things to work well. Something that surprised me about Knight’s story was the way that Knight really started the process in his shoe-making company. Knight had the courage and confidence to cold call a prominent Japanese shoe companies CEO, Mr. Onitsuka, and actually got the offer to distribute shoes in the United States. While overall Knight was an inspiration and great motivator, there were some aspects of character that I believe he fell short in. After his amazing entrepreneurship goals took place, he practiced in production techniques that harmed the children of Japan and other developing countries that he took advantage of. Child labor exploitation has been a huge issue for Nike, and I’m not sure how generous Knight may have been to these employees.

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

Knight had the unending drive to be great, which is something I value greatly. His ability to take risks and go out of his way to do something extraordinary is inspiring. From one small idea, Knight built a billion-dollar company, and it was cool to see how these unmet needs that we talk about in class can often lead to great ideas and eventually companies that are recognizable to nearly every eye. Knight also showed competencies in integrity and a solid organizational message that drove Knight and his company to the success they have today.

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

One part of the reading that was confusing to me was the uncertainty of Knight’s financial future. Knight had received a MBA from Stanford, one of the most prestigious universities in the United States, you would think when he graduated he had some sort of job offer or connection that would give him at least a little stability coming out of college.

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

My two questions:

Who has had the largest impact on you as a person and why?

What has been your favorite project while working for Nike and why?

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

I think Knight values hard work- if he hadn’t, I don’t think that he would have the success he has today. You can also see Knight’s hard-working traits as he faces a lot of challenges before he actually builds his success from the ground up. I share the same opinion on hard work with Knight because as a child I always had to earn what I was given- I worked multiple jobs and paid for what I needed. I did receive help from my parents in many ways, but ultimately it was up to me.

12A – Figuring Out Buyer Behavior

12A – Figuring Out Buyer Behavior 

1) Segment I chose: Drivers (age 16+)

2) Three people chosen:

A) Roommate (College student 19 y/o)

B) Professor (Adult 43 y/o)

C) Uber driver (around 20-25 y/o)

3) Beginning with need awareness:

When asking the three subjects about when, where, and how their need awareness occurs, I found that my opportunity is truly spontaneous. Obviously, when you lose your keys, you only realize your need is apparent when you need to leave and go somewhere. Since my opportunity is tracking your lost keys with an easy-to-use app, need awareness only becomes evident when the users have misplaced or lost their keys. The good thing about my concept is that it practically resolves the unmet need before it even happens, because when users are a certain distance away from their valuables, they will receive a notification. Basically, my interviewees need is most salient when they realize they’ve lost their keys, and have something urgent to attend.

4) Moving to information search: When the person you are interviewing becomes aware of their need, what is the very first thing they do to find a solution to their problem? What sources of information do they look for? When they search in Google, what are their search terms? Do they talk to friends and family.

When the people I interviewed become aware of their need, they first told me that they panic. Losing your valuables, especially keys, causes your eyes to go wide and immediately worry about where they could possibly be. They all told me that the first thing they would do when they are aware of their need is retrace their steps- a pretty logical solution to losing your keys. They also said that they would search places where they usually kept their keys or valuables, and if they still can’t find them, they would either ask family/ friends if they’ve seen them, or call the last place they were when they know for a fact they were in possession of them.

6) Drawing conclusions:

Based on my segment, which was drivers (age 16+), I would say that their need awareness and information search is pretty simple. My idea is not something that happens all the time, but when it does occur, they feel sick to their stomach! The fact that others could be in possession of their valuables makes people go into panic mode, especially when they have urgent things to do. My interviewees also stated that my opportunity has been filled by Tile, but the features I add gives me an opportunity to compete with them, which really boosted my spirits. Ultimately, the segment i chose provided me with critical information about their need awareness and information search whenever they lose their keys/ valuables.

10A- Elevator Pitch 1

11A – Idea Napkin No. 1

11A – Idea Napkin No. 1

1) You

I am Drew Lindbeck, a freshman Business Management major at the University of Florida. I am originally from Tampa, Florida where I have lived my entire life. I had been involved in multiple organizations such as Student Government in high school, and continue to stay involved in college. This goes beyond the business school as I participated in UF’s Young Leaders Conference where I had the opportunity to go through several workshops with high school students teaching them about different aspects of leadership and what it means to lead others. I want to live a life full of financial freedom and have a healthy and loving family along my side. I also strive to serve others around me who are in need; this being said, my business idea is to spread the privilege of online education to a country or city that is financially unable to access them.

2) What are you offering to customers? 

The service that I intend to offer to “customers” is the unique opportunity to be provided an online education in cities that have high poverty rates. In my eyes, the only way to really help the youth in these poverty-stricken areas is to give them a chance to learn and grow. In some places, education is poor and not up to the standards of others, but with a little help of using apps and access to the internet that can be provided to these children, they will be able to develop into smart young kids and hopefully get a chance of attending further education. I will have tutors from experienced backgrounds to help them in all subjects, while most will speak multiple languages to break that barrier if needed.

3) Who are you offering it to? 

The few traits that all of my customers have in common is their inability to access online education due to financial reasons, and the age range I am targeting is specifically from around 6-18 years old. These children and teens will be provided chances to learn further with the help of my service.

4) Why do they care? 

I believe that customers will find my service valuable because it allows children and teens from poor areas to receive an inexpensive online education on top of the education they may already be receiving. I also think this service could be extended to parents and adults who feel they may need additional education as well. Most parents believe that education can lead to a greater life, so providing additional resources of online education to parts of the world that need it can be extremely helpful in my eyes and theirs.

5) What are your core competencies? 

All my life I have had a passion for service, whether it was helping and interacting with the special needs students ay my high school, to giving out scholarships to students who wanted to attend the University of Florida’s Young Leaders Conference, I have always been one to reach out to those in need. I believe my business concept is good, and can provide the underprivileged youth in today’s world with an inexpensive and effective online education. I know companies like this may already exist, but there are always places that could use a little more help with a little less money being used, and I believe with the proper plan and technological support I can make this happen.

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

Before, I said my business model is good, which I truly do believe, but I do know that my concept needs work and there are a few things that I have yet to figure out. I think my intentions are good and the elements that my services provide will make the world a better place, I just need resources and investment behind me so I can get the ball rolling. I am excited to see what I can do, and with time I think I can truly make a difference.