28B

The exit strategy I want to plan is to sell my company to a larger national company like Lime or Bird in a couple years for at least a couple million dollars. I plan on using my current venture to fund my future endeavors. I think that my exit strategy has not affected my choices in directing my venture. I have always wanted to grow my venture regardless of how it ends.

27B

Innovation and Entrepreneurship by Peter Drucker

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

The main theme of this book revolves around pillars of innovation and entrepreneurship in the Business World. It talks about the actions people take in order to solve problems in an innovative manner.

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

This book relates to what I'm learning in class because it talks about the different ways that people can pursue entrepreneurship. It enhanced my earning by showing me that I can think of innovation as something achievable and can work towards, therefore creating a better mindset.

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

I think I would create a problem in class, such as an employees on strike issue or something of that nature. I would then divide the class into groups where they would discuss how to solve the problem in the most innovative way. At the end of this exercise the class would vote on who had the best solution to the problem and we would discuss why. This would demonstrate how innovative the class can be when approaching serious issues.

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?

I think the biggest moment I had was when the author describe the biggest "new age" technology as not being computers or literal technology. The author stated that the biggest innovation was entrepreneurial management. It is interesting to think of entrepreneurship as a technology and/or tool to use when running a business. I guess it surprised me because I would have never  connected the two.  

26 B

1) One time this past semester that I failed was in one of the hardest classes that I've taken to date. The exams in this class are some of the hardest exams that I've had to take. Because of that I don't feel too bad about failing but I do wish that I did better.

2) What I learned from failing this past semester is that you always have to continue looking forwards and that it's beneficial to have backup plans just in case some plans fall through.

3) Failure is hard and it has different effects on different people. Everyone reacts to failure in different ways. This class has changed my perspective on failure because I learned that failure is a part of life and a part of evolving. Just because you failed doesn't mean that it's the end of everything because that failure might open a better opportunity. Because of that I am more likely to take 

25 B

Step 1: What's next for my venture is to start raising capital and start finding places to store the scooters and start finding ways to spread the word. 

Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about your ideas of what customers might want next. 

Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.

New Market.

Step 1: Identify a radically different market from what you're currently planning to target. If you're currently targeting B2B, think about going after a B2C market. If you're currently targeting an affluent part of society, think about targeting a very poor part of society.

Step 2: Once you have identified a radically different market, describe how you think your venture concept might be able to create value for people in that market. You may have to get creative with this -- that's OK -- and perfectly welcome!

Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market? 

Step 4:  Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on. 

24 B

My venture was was created by the realizations of an opportunity that there was a lack of e-scooters in the Gainesville area which is a trend appearing in a majority of other large cities and college towns. I noticed this by visiting other college towns and noticing that they all had a bunch of e-scooters around them so I took this idea and realized that there is a market that is basically guaranteed and open.

The innovation aspect of my venture I realized is that I will source stronger and faster scooters than other companies and by starting off with a good relationship with the school which will lead to better deals with working with the school.

My venture concept is to source stronger and faster e-scooters than competitors for the Gainesville area. With a large customer base (50,000+ students) combined with a good relationship with the school my venture with not only be successful but better than the competition.

23 B

1. My Financial & Economic Awareness

• Valuable = yes
• Rare = no
• Inimitable = no
• Non-substitutable = yes

2. Relationships with small business owners in my community

• Valuable = yes
• Rare = yes
• Inimitable = yes
• Non-substitutable = yes

3. Experience working in and managing small business

• Valuable = yes
• Rare = yes
• Inimitable = no
• Non-substitutable = no

3. Supported by the Environmentalist Movement across the US

• Valuable = yes
• Rare = yes
• Inimitable = yes
• Non-substitutable = no

7. Relationships with Charity organizations in my community

• Valuable = yes
• Rare = no
• Inimitable = yes
• Non-substitutable = yes

2. Access to student loans 

• Valuable = yes
• Rare = no
• Inimitable = yes
• Non-substitutable = no

5. Experience working with graphic and web designers

• Valuable = yes
• Rare = yes
• Inimitable = no
• Non-substitutable = no

9. Access to Free Labor and Advising through Relationships with UF Staff & Students

• Valuable = yes
• Rare = no
• Inimitable = no
• Non-substitutable = no

6. Access to the University of Florida's resources 

• Valuable = yes
• Rare = no
• Inimitable = yes
• Non-substitutable = no

10. Having lived in a liberal/eco-friendly area for all of my life

• Valuable = yes
• Rare = no
• Inimitable = no
• Non-substitutable = yes

After completing a VRIN analysis of the different advantages that my venture has I have come to the conclusion that my relationships with local businesses and their owners throughout the local community is my most advantageous because of the benefits that comes with it.