30A – Final Reflection

What sticks out to you as the most formative experience? 

Assignment 20A- growing your social capital taught me a lot.

The experience that you'll remember years later? 

Definitely all the elevator pitches, i feel they were the most constructive assignments

What experience are you most proud of yourself for accomplishing?

Assignment 16A- what's your secret sauce? because of the interviews and the responses.

Do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

I wouldn't say i see myself as an entrepreneur yet just because i haven't been in a position of actually starting a business or taking any real steps towards it. However, i have developed more of an entrepreneur mindset for sure throughout this class.

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?

For those taking this class in the future i recommend being organized with the assignments and completing them on time. If you do that alone you should be able to get an A in this class. For the cupcakes i recommend watching the videos and taking quick notes on it for reference purposes.

29A – Venture Concept No. 2

Opportunity:
There is an unmet need for one-stop-shop clothing brand for quality ‘basics’. This exists because although theres many clothing brands most are a mix of cheap quality pieces, or the ones that are good quality, are expensive for the everyday consumer. Also, theres almost no competitors for this very specified brand concept of basics, most clothing brands now a days have breadth but not depth in their merchandise. This opportunity is targeted to middle class women ages 18-30. There's about 22,000,000 women in the US within that demographic (Census 2010), a big amount are found in the south and west regions of the US. I believe the window of opportunity for a business like this is now, it's a competitive industry and many new brands are being build in this day and age.

Innovation:
My business concept can be described as incrementally innovative, because compared to the clothing brands that currently exist this concept improves the depth of merchandise. It provides different forms of basics- casual shirts, formal shirts, blouses, casual pants, formal pants, blazers, sweaters, and cardigans- all in a more neutral color spectrum including white/black/nudes. This is innovative in a way because I can't pinpoint one brand with that spectrum that has good long lasting quality in a medium price range- they are all expensive! $30 for a simple casual shirt - no thanks! This concept makes money by selling the clothing pieces for a range of $15-$70. Also the business would strive on being more than 50% sustainable overall and it would grow alongside those who make it possible.

Venture Concept:
This concept addresses the opportunity mentioned above because it would fill the gap in the market for good quality essentials and all at the ease of a one-stop-shop. Customers would switch to this brand because it provides them with an ease of shopping, by having all the essentials in one place, for a reasonable price. This concept is also special because of its sustainability efforts and community growth which is rare for clothing companies. If done correctly, this can go a long way.

The Three Minor Elements:

1. As identified in the prior assignment my most important resource is  the support of my family and friends. Its really important as a start-up to have people who believe in you and can invest in you. It's also important for you to trust the person(s) who give you money. It's easy for someone to be starting their first business venture to get scammed or start partnerships with bad character people.

1. The next step in this business would be creating an extension online where customers could pair different pieces in a virtual model to see what outfits they could create before or after they purchase the clothes. Also have a photo gallery with outfit ideas and you can click on it to be redirected to the page of the specific clothing article.

1. In five years I want the brand to be known in the United States, specifically having stores in major cities and shipping nationwide. I want to start thinking about expanding outside the US by then and having a great team of talented and expert professionals working side by side with me.

Feedback:

This venture concept is very similar from the first one. I received 1 feedback from my first venture concept which was all positive feedback making it hard for me to change anything about the concept. 

28A – Your Exit Strategy

1) Identify the exit strategy you plan to make. 

My immediate thought when reading this question is that I would want to stay with the business for several decades; however, the future is unknown and depending on where the business stands in 5 years i might sell it. 

2) Why have you selected this particular exit strategy?

I would want to  stay with the business because its something that i am passionate about, and when i put my heart and hard work into something i stick to it and want to grow with it. i think it would be hard for me to sell any of my future businesses. 

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? 

My exit strategy has influenced the way i think about this business and therefore the long-term goals that i have of growing the company and expanding. 

27A- Reading Reflection No.3

For this assignment i chose to read Coco Chanel: An Intimate Life. This biography tells the compelling story of Gabrielle (Coco) Chanel life. I picked this book to read because Chanel is such a prestige brand and i was interested to get to know more intimate aspects of the brand and its creator. 

• What surprised you the most?

what surprised me the most was Chanel's past. I would have never guessed that the founder of such a known and high valued brand would have such a dark and challenging upbringing. 

• What about the entrepreneur did you most admire?

What i admired the most about Chanel is her persistence and resourcefulness when building her brand and now is an icon in the fashion industry.

• What about the entrepreneur did you least admire?

I least admired the way she viewed relationships, the book described that she had affairs with men who were rich and powerful in order to move up in the industry. 

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

Yes, Chanel went through a lot of failure and hardships. She had to keep persisting and work smartly in order to get achieve her goals. 

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

She exhibited determination, resourcefulness, and good decision making. 

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

What confused me was how secretive Chanel was about her life, she had destroyed a lot of documents which indicated she was hiding some things. 

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

- If you saw how your business is now, what would you change about it? Design wise and company wise. 

-What would you say is the thing that helped you the most in the success of your career?

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

I think Chanel's opinion on hard work was positive, she hustled a lot to get to where she got. She did what she saw as necessary in order to be successful. 

26A – Celebrating Failure

1) This past semester I failed many times on my goal of going to sleep by midnight. I am trying to make it a habit of going to sleep "early" so that I can wake up earlier. Given the lack of structure and schedule in my life due to quarantine- class is online and i'm not currently working- I really have nowhere to be at certain times anymore. I have been trying to self- discipline myself as far as my sleeping habits... but no luck so far lol! 

2) I basically learned that I have no self discipline, at least in this situation. I understand that its okay to not have the best sleeping schedule right now but i think that my goal isn't super hard to do because i try not to make goals that are too demanding- like is i said 10pm instead of 12. 

3) My failure has showed me that it is hard to motivate ourselves to change our habits. Something as simple as my above experience can be applied to more drastic examples like managers trying to change or adapt their management ways or business owners having to motivate themselves to keep pushing themselves even when they only encounter failure. I handle failure okay-ish I definitely need to improve and being less bummed out when it happens and seeing it as an opportunity to learn and change. This class has kinda changed my perspective on failure because it shows how the basis for entrepreneurship is failure and its about how you rise up from that.

25A – What’s Next?

Existing Market:

1. As mentioned before what I plan on doing in the future is creating an extension online where customers could pair different pieces in a virtual model to see what outfits they could create before or after they purchase the clothes. Also have a photo gallery with outfit ideas and you can click on it to be redirected to the page of the specific clothing article.
2. After interviewing the three customers what they said where things they saw next for this business where expanding the product line to include workout pieces, dresses, and more bottoms. Also, one mentioned expanding the color line to include light pink, baby blues, and soft colors.
3. Growing in my existing market will include adding product lines for dresses, skirts, activewear, etc. Also, experiments can be done with incorporating color in the brand, primarily soft colors in a way that keeps the pieces timeless and elegant. I also think incorporating the virtual software in which customers can pair pieces together and create outfits would be helpful in growing the user interface of the website and attract new customers within the market.

New Market:

1. Targeting lower income women ages 18-30
2. Value can be create for people in this market by having lower prices and maintaining the good quality. 
3. The interviewees mentioned that having something like this venture would be great for them because what they can find now in the market is cheap quality clothes. They find that instead of having super formal clothes, that they would benefit more from casual and semi-formal clothes. 
4. What i learned about this market is that i would have to adjust the product mix of the company to better adjust to the lifestyle of the market. I don't think it is attractive for a business concept like mines to enter this market because it would diminish the image and value of the brand. The whole point is to have good quality clothes for reasonable prices while being sustainable and not supporting fast fashion. Entering a lower income market would prompt us to cut costs at a certain level which would impact sustainability. 

24A – Venture Concept No. 1

Opportunity:
There is an unmet need for one-stop-shop clothing brand for quality ‘basics’. This exists because although theres many clothing brands most are a mix of cheap quality pieces, or the ones that are good quality, are expensive for the everyday consumer. Also, theres almost no competitors for this very specified brand concept of basics, most clothing brands now a days have breadth but not depth in their merchandise. This opportunity is targeted to middle class women ages 18-30. There's about 22,000,000 women in the US within that demographic (Census 2010), a big amount are found in the south and west regions of the US. I believe the window of opportunity for a business like this is now, it's a competitive industry and many new brands are being build in this day and age.


Innovation:
My business concept can be described as incrementally innovative, because compared to the clothing brands that currently exist this concept improves the depth of merchandise. It provides different forms of basics- casual shirts, formal shirts, blouses, casual pants, formal pants, blazers, sweaters, and cardigans- all in a more neutral color spectrum including white/black/nudes. This is innovative in a way because I can't pinpoint one brand with that spectrum that has good long lasting quality in a medium price range- they are all expensive! $30 for a simple casual shirt - no thanks! This concept makes money by selling the clothing pieces for a range of $15-$70. Also the business would strive on being more than 50% sustainable overall and it would grow alongside those who make it possible.

Venture Concept:
This concept addresses the opportunity mentioned above because it would fill the gap in the market for good quality essentials and all at the ease of a one-stop-shop. Customers would switch to this brand because it provides them with an ease of shopping, by having all the essentials in one place, for a reasonable price. This concept is also special because of its sustainability efforts and community growth which is rare for clothing companies. If done correctly, this can go a long way.

The Three Minor Elements:

1. As identified in the prior assignment my most important resource is  the support of my family and friends. Its really important as a start-up to have people who believe in you and can invest in you. It's also important for you to trust the person(s) who give you money. It's easy for someone to be starting their first business venture to get scammed or start partnerships with bad character people.

1. The next step in this business would be creating an extension online where customers could pair different pieces in a virtual model to see what outfits they could create before or after they purchase the clothes. Also have a photo gallery with outfit ideas and you can click on it to be redirected to the page of the specific clothing article.

1. In five years I want the brand to be known in the United States, specifically having stores in major cities and shipping nationwide. I want to start thinking about expanding outside the US by then and having a great team of talented and expert professionals working side by side with me.

23A – Your Venture’s Unfair Advantage

Resources: 
* below are the 10 resources my venture has. I will only mention the VRIN of each resource if it contains it.
** quick reminder this is based on my business idea for a clothing company for basics

1. My experience with online and traditional shopping
• V- valuable because it gives me reference to things that make the customer experience better with both methods of purchase. 
• N- not substitutable
2. My experience with putting together coherent and fashionable outfits
• V- valuable because it gives me a sense of style that can be expressed in the brand 
• R- not necessarily rare, but definitely has a room in the market as far as creating a brand with a website that shows different ways to style the pieces 
3. Social responsibility
• V- growing attention to customers and stakeholders in company's social responsibility. Creates value.
• N- not substitutable 
4. My attention to detail:
• V- allows me to notice things that many others cannot, specially in design 
• R- moderately rare 
• N- not substitutable
5. Business Major 
• V- courses and overall involvement I have in school can help me in my business
• N- degree is not substitutable
6. Support of family and friends- moral and financial 
• V- can help in encouraging me, and help financially in the beginning 
• R- kind of, many relatives of start ups aren't supportive and can't financially help 
• I- kind of hard to have supportive people that believe enough in your business idea that would help financially 
• N- perhaps it can be substitutable, but having family support is different 
7. Connections to alumni and university's social capital 
• V- very valuable because gators help gators, and university has many connections that are transferable to its students 
• I- can't imitate the amount of social capital that the institution can offer
• N- not substitutable 
8. No outstanding debt
•  V- valuable to start a business without any debt already on your back
• N- not substitutable 
9. Long-term vision
• V- valuable because it sets a path for the business in a way that you can break it down to short-term goals
• R- depends, many start ups don't have a business idea they have a product 
• N- not substitutable 
10. 2+ years of working experience 
• V- no matter the job it gives you experience with working with people, shows you the value of money through hard work, teaches you life lessons

My top resource seems to be the support of my family and friends. Its really important as a start-up to have people who believe in you and can invest in you. It's also important for you to trust the person(s) who give you money. It's easy for someone to be starting their first business venture to get scammed or start partnerships with bad character people.

22A – Elevator Pitch No. 3

Reflection: I received great responses on my last pitch, people seemed to like it and saw the passion I put into it. After receiving great constructive feedbacks the main points made to improve my pitch were:

• project my voice more (speak louder)

• increase the length of video 

In response to the feedbacks I kept in mind to speak louder (without seeming mad or screaming) throughout the video, and although the script didn't change i tried to control the speed in which i was talking. 

21A – Reading Reflection No. 2

For this reading reflection I chose The Art of Social Media: Power Tips for Power Users, by Guy Kawasaki

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

the main point the book made was how social media is a key asset in today's world in growing a business. Social media can have positive or negative effects on a business and Kawasaki with his background at Apple, shows the reader how to take full advantage of it. The book provides over 100 tips, tricks and insights on how to set up a successful social media account. 

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

this book connects with what we are learning in this class because it teaches you how to connect with your audience. As we have seen before knowing your target customer is very important and connecting with them is essential. Social media is the #1 way you can connect with the younger generations and show them what your business is about, having a strong social media present today is very important for a successful business. The book gives advice on how to comment, what to post, and how to set up your profile so that it matches your target audience.

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

the exercise i would design for this class based on the book would be for people to create a social media account for their business. For those who actually already started their business or are in the beginning stages i would ask them to start an account (if they havent already), and for others who are just brainstorming business ideas i would ask them to find accounts of their potential competitors and print out the things they like and dislike about their page.

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

my biggest 'aha' moment while reading the book was how serious social media is to companies. As a daily user of it i see it more as a form of entertainment where i can find funny memes and see what my friends are up to, but as a business platform it can take a lot of time and effort to make your business stand out and get into peoples radar. He mentions how people only spend a few seconds in a post, so it is critical to optimize it as much as you can.

20A – Growing Your Social Capital

1.) Domain Expert

• Who they are and their background: I interviewed my friends mom who owns a jewelry kiosk in the mall. Although this isn't a clothing store, it is in the retail industry so I felt like it would give me some insight.
• What makes them an expert: she has been successful in her business for many years, and can manage inventory really well.
• How I found this person: friends' mom
• Nature of exchange: I simply asked her for her time over the phone, i explained to her the business idea i have and wanted to get a perspective of working in the retain industry. 
• How this person will enhance my ability to exploit an opportunity: including this person in my network can help me understand the factors that go into starting a business

2.) Market Expert

• Who they are and their background: the girl i interviewed owns a small online clothing boutique 
• What makes them an expert: although i don't know the profits of her business, i know she has a great platform and followers
• How I found this person: i got in contact with her through instagram 
• Nature of exchange: at first i didn't think she would even reply, but was surprised when she was so helpful and nice. I explained to her I am a student and the assignment. In exchange I just shared one of her posts in my story.
• How this person will enhance my ability to exploit an opportunity: including this person in my network can provide me with great contacts. She has been in this market for a while and can give me helpful advice

3.) Industry Supplier

• Who they are and their background: the person i interviewed buys clothes in bulk and resells the pieces online
• What makes them an expert: she has been doing this successfully for 2 years
• How I found this person: on campus, through a friend
• Nature of exchange: i just texted her and asked if she could answer some questions 
• How this person will enhance my ability to exploit an opportunity: including this person in my network can help me build my business by giving me advice.

4.) Reflection: finding and asking these people questions was a bit challenging because it was out of my comfort zone. The ones i was already acquainted with was just a matter of asking for a favor which can be scary, but it showed me that the worst that can happen is them saying no.

17A – Elevator Pitch No. 2

2) A reflection on the feedback you received from your last pitch
After receiving great constructive feedbacks the main points made to improve my pitch were: 

• to specify what type of clothing range the brand provided to help target a specific audience

• to make the pitch longer 

3) What did you change, based on the feedback?
The changes I made were all based on the previously mentioned bullet points. I now feel like the pitch has improved from the first one by adding the range and values of the business.

19A – Idea Napkin No. 2

I believe these elements fit together because they reflect the values which can be seen as the foundation of a business. This didn't change much from my first idea napkin because although I found more about the consumer most things stayed the same. In describing who I am I took what I learned from the previous assignment where people had to describe me and used it in here.

*Feedback memo:
I didn't receive any feedback from my 11A assignment.

18A – Create a Customer Avatar

My customer avatar is a 22-year-old woman who loves to explore coffee shops and trendy restaurants. She drives a grey 2017 toyota corolla and her main priority in her life at the moment is her career. She loves hanging out with friends and coworkers, and loves to dress up whenever she gets a chance. Her style is simple but chic, her closet color palette can be described as neutral (black, whites, nudes) with only a couple colorful pieces. She's an adventure seeker and loves to plan small trips that fit her busy work schedule.

**What do you have in common with the customer avatar?
The avatar and I have the age range in common as well as the overall lifestyle such as car type and adventurous spirit. We both also have similar clothing style which fits the product i am developing. 
**If you have anything in common with the avatar, do you think that is a coincidence? Why?
No, its not a coincidence because the product I have been focusing on in this course reflects myself and my style, so its only fair that the prototypical customer is similar to me.

16A –What’s Your Secret Sauce?

Five things that make me unique:

1. I have lived in two countries which hold different values and have different cultures. This gives me an open mind and adaptability to new environment and things.
2. I am very organized. I find satisfaction in crossing out things that I finish in my agenda. It keeps me focused and on track to achieving my goals
3. I am an easygoing person. I don't hold grudges and don't stress over matters that don't add value to my life. This makes it easy for me to be social and develop friendships.
4. I am hardworking and have strong work ethics. I will do extra steps and things that are not necessarily required to make sure my job is done well. 
5. I am grounded on my values. Although I am very open-minded there are things that I will not be influenced to do such as things that violate basic human rights and treating people badly. 

Interviews: (I couldn't figure out for my life how to record/add audio under google docs)

• My mom said that my ability to adapt to new things sets me apart. She says I don't get anxious or scared to venture into new experiences.

• My dad mentioned how I am a hard worker, how I have always been focused and know what I need to do in order to have a good life in the future.

• Liz, my best friend, said she admires how I am dependable and easy to rely on. She said when she needs something I am the first person she would think of asking for help.

• Rafaella, my close friend, mentioned how I am focused on whatever I put my mind to and she admires that about me.

• My boyfriend also mentioned how I am a hard worker and give my 110% to whatever project or task I do.

Reflection:Seems like how I see myself is similar to how others see me. I think of myself as someone who is caring, hard worker, and grounded. A difference is how my friend described me as dependable, I didn't realize that before maybe because I never really thought about it, it's just something you do. Other than that there seems to be no other differences. I wouldn't make any changes to the original list because I still feel like those are my human capital. There's much to improve on and there's definitely many things that I want to add to my portfolio.

15A – Figuring Out Buyer Behavior No. 2

Segment: my market segment is a demographic of middle class American women between the ages of 18-30. They have the need for finding their essential clothing items (shirts, pants, sweaters) in one store that they can trust to have good quality for reasonable prices.

1. My first interviewee said that when evaluating alternatives, she's usually left between buying from Zara and Isabelle's Cabinet. Both have good quality pieces and are around the same price range, but what usually plays a role in her decision is the style of the clothes. Although she buys from both stores, her style is more of girly and soft colors so she prefers Isabelle's Cabinet. She classified herself as an online shopper mainly because it is easy and she can see the full scope of products. After receiving and trying out the clothes she said that she determines if it was good purchase by the shipping time, and if the quality of the clothes matches expectation.
2. The second interviewee said she shops primarily in-stores because she likes to go to outlets and malls and try on the clothes before purchasing. She has several stores that she is more drawn to, but ultimately she bases her decisions on price, when she feels like she's getting a good deal. This she said, doesn't mean she only buys cheap clothing, it can be a more expensive item/brand as long as it's discounted. Quality and price is how she determines if the purchase was good or not.
3. My last interviewee was similar to the first in the aspect that she shops mostly online. However she is price conscious and shops mostly through Shein, Misguided, and H&M. When choosing between alternatives she says it's a combination of style, reviews of the products, and price. These stores, she said, can be a hit or miss so it takes her a bit longer to decide but now she is more aware of what to look for.

Conclusion: After the interviews it seems that the main factors that influence customers decision making is quality, price, shipping, and reviews. This segment shops both online and in-stores and they evaluate their purchases mostly by the quality of the pieces. 

14A- Halfway Reflection

1) To keep up with the course I have been keeping organized by writing down the weekly assignments and making sure to remind myself that they are due at noon on the due dates. This way I get them done a day before so that I don't risk turning it in late. Also, I have learned to ask better questions when interviewing people, questions that require a more extended answer. 

2) A moment in this course that I felt unmotivated, not necessarily "giving up", was when I left to do an assignment the day it was due and I had to force myself to get up early so I could have it done by noon. It was something I didn't necessarily want to do but I knew I had to. I definitely have developed a tenacious attitude this semester having to push myself and keeping me in check with all my online classes. 

3) Three tips that I have to foster/develop tenacity are :

1. writing down short-term goals 

1. reward yourself for completing those goals in any way you prefer

1. have a vision board of what you look to achieve or be in the future and think of how the present things will help you do that

13A- Reading Reflection No. 1

The book I read was Shoe Dog by Phil Knight 

1A) What surprised you the most?

What surprised me the most about Phil Knight is that he served one year in the U.S Army after he graduated from University of Oregon. This is surprising because often when we think of top businessman, like Knight, you tend to forget they are normal people, and oversee their lives before reaching success. 

1B) What about the entrepreneur did you most admire?

One thing I admire about Knight was his courage to just try out his "crazy idea". He went to Japan by himself to pitch the idea of importing Japanese running shoes to America and found someone who believed in him. Also, I admire him making a business out of something he was passionate about which was running.

1C)What about the entrepreneur did you least admire?

This isn't something I didn't necessarily admire about Knight, just one thing that I didn't agree with was that his brand Nike promoted health and exercise but his management team didn't reflect this given that they were obese and overweight. I am not saying the company should discriminate and hire based on appearance, but that he should promote the same to both consumers and the internal environment of the company.

1D)Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

Yes, from the start Knight was met with adversity when he needed money in order to go follow his "crazy idea". He was lucky enough to have someone near him, his father, who could give him the money but it still took courage to ask. Also, in the beginning of his business when it gained traction Knight struggled to keep up with the demands so he had to work in storage rooms which isn't ideal. These along with many other adversities were overcome by Knight because he learned to get over failure quickly and kept his eyes on his passion and goal of selling running shoes. 

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

Phil Knight's best competency, in my opinion, was his open mind to the world. His curiosity for the world and applying what he observed in people to the development of his idea really impressed me, specially since this was back in 1962. Also, the fact that he was open to work with Japanese businessmen and didn't have a negative view on them given the past incidents between American and Japan. 

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

One thing I was confused about this book was if Knight kept a diary or notes about the occurrences in his life, or does he just have amazing memory? Because the book was published in 2016 and I would think it took several years to write the book, but the meticulous details included, such as what he ate in his flight to Tokyo in 1962, just amazes me.

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

Did you think now with all the knowledge you have gained, if you were to distance yourself from the situation and looked at it with an outsider lens:

-Was making a 50-50 partnership with Bill Bowerman fair? 

-Even if it was your "crazy idea" and initiative?

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

I think Knight's opinion of hard work is that it comes from within and like he mentioned in the beginning of the book it's about the journey and the persistence, you can't stop until you reach your goal. His idea of hard work was developed by him being an athlete and having to push his limits to reach the finish line.

12A- Figuring Out Buyer Behavior

Segment: my market segment is a demographic of middle class American women between the ages of 18-30. They have the need for finding their essential clothing items (shirts, pants, sweaters) in one store that they can trust to have good quality for reasonable prices.

Interviews_Need Awareness and Information Search 

• My first interviewee was in her mid- twenties and she said she notices this need when she goes out to shop and spends so much time to find simple clothes. She enjoys going out to stores to shop, but gets frustrated when she can't find good clothes in her price range. When this happens, she will look online for whatever the item description she is looking for, but she says she prefers buying in person so she can try on the clothes.
• The second qualified interviewee was 18 year old who said they notice this need when they have to browse different stores to find pieces. They like different stores depending on what category of clothes they are looking for (tops, bottoms..), and it annoys her to have to do that. She does mostly online shopping and even though it bothers her to not have a brand that she can really identify as one where she buys most of her clothes, she does't look for change.
• The third interviewee was in her early twenties and she said similar things to the previous person. She also mainly online shops and notices the need when she has to go to different websites to find different pieces. She doesn't have a go-to brand and she says this annoys her.

Findings: From the interviews I can say that consumers with this need become aware of it when they spend time looking for clothes in various stores (either online or in person). They don't have a go-to brand that they can trust and rely on to find most of their basic clothes.

Conclusion: this segment's need awareness occurs when they are shopping, either online or in store, and they spend more time than they would wish for to find pieces. Also, they don't identify with one brand where they get most of their things from which is the cause of the issue. In order to find a solution to this, some search online for specifics on what piece they are looking for.

11A- Idea Napkin No. 1

I believe the elements of my business concept are cohesive and fit well. Based on the information I received back from previous customers interviews I was able to define a bit more what the customers would want. Sustainability and worker's rights are big moral philosophies I have and when creating my future business I want to keep this is mind. Also I am big on simplicity, and not complicating things unnecessarily, so I envision a brand that is simple (bright, spacious atmosphere).

10A- Elevator Pitch No. 1

9A- Testing the Hypothesis, Part 2

WHO: two of my interviewees said that although they get their 'basics' from different sources, they are not bothered by it and enjoy browsing multiple stores. Another interviewee mentioned that she buys all her 'basics' from one store and therefore doesn't have that need. The last two interviewees said that although they do buy from various stores, they don't spend much money on 'basics' and therefore wouldn't be attracted to a brand that sells them for a medium to high price range. 

WHAT: the need I identified was the need for a clothing brand that deals with only  "basics" with good quality and reasonable prices. This differs from the need of getting seasonal or style-specific clothing.

WHY: those outside the boundaries of my need either need cheaper options for 'basics', don't value having good quality for 'basic' pieces, or don't have the need at all.  

	Inside the Boundary	Outside the Boundary
Who	People who find it challenging getting good quality ‘basics’ in one place with reasonable prices.	People who don’t find it challenging to get ‘basics’ from one place, or are not bothered by having to browse different stores, or don’t want to spend much money on it.
What	Need for a one-stop-shop clothing brand for quality ‘basics’	Do not have the need for ‘basic’ pieces
Why	Need exists because it is difficult to find good essential clothing items in one brand.	Could alternately have the need for cheaper price point, or already have set preference towards a brand.

8A- Solving the Problem

The Problem:
Difficulty of finding keys or other objects in purses or bags.

The Product:
Various sized and colored detachable pockets that can be easily inserted and taken out of the inside of bags. The mechanism that would allow it to stay put is a form of adhesive tape that would be located on the back side of the pocket that once in contact with different material purses wouldn't damage once taken out. The pockets would be made with strong and machine washable material so that if there is any spills or dirt it can be cleaned with ease.

7A- Testing the Hypothesis, Part 1

Opportunity: clothing brand that deals with only "basics" for women ages 18-30. With good quality products for reasonable price.
Background: I find it challenging to find good quality basics in one place without it being overpriced. I end up looking at a bunch of websites and getting my pieces from different places.

The who: women in the United States between 18-30 year old who are looking to buy 'basic' essential clothing pieces
The what: one-stop shop for clothing that focuses on quality 'basics' for reasonable prices
The why: difficult to find a brand that specializes in quality essential 'basics' for medium reasonable price.

Testing the who: another demographic that might also have this problem is men , and women older than 30.
Testing the what: boundaries are style, not everyone in the targeted demographic will like the style of brand. Also, not everyone in demographic will likely be able to afford the pieces or will prefer to spend more on clothing.
Testing the why: not everyone will thinks it's challenging to find good quality 'basics' for a good price.

• Interview #1: Elizabeth is a 19 year old female who buys most of her clothes online through various stores. She describes her style as very neutral-toned and simple. She thinks finding good 'basics' can be hard at times mostly because the stores that she trusts for great quality clothes are the ones that are out of her price range and she only buys from them once in a while to treat herself. Also, she said that she sees 'basic' pieces as an investment because she knows that she will use them a lot. She thought my idea was great and wished there was a brand like that.

• Interview #2: Maria is a 25 year old female who buys her clothes both in-store and online depending on the category. She describes her style as casual and often wears athleisure. When asked about how easy/hard it is to find good 'basic' pieces she said she doesn't have a particular brand that comes to mind, but it also ins't very hard. She says she does't mind spending a bit more on clothes because they make her feel good. She thought my idea sounded interesting.

• Interview #3: Gianna is a 19 year old female who buys her clothes mostly in-store. She describes her style as edgy. She mentioned how finding 'basics' isn't too hard, but the quality often reflects the price she paid. She said she liked my idea, but the only concern she had was the price range of the brand.

• Interview #4: Kelsey is a 21 year old female who buys her clothes mostly online but also occasionally in store. She describes her style as classy. She said she gets most of her basics from Zara, H&M, and Topshop. She doesn't find it hard to find good basics but still likes my idea and can see it doing well. 

• Interview #5: Rafaella is a 23 year old female who buys most of her clothes in store. She describes her style as boho. She said that she doesn't find it troubling to find basics but she also doesn't give much attention to clothes. She likes my idea but would't necessarily see herself as a customer. 

Summary: after the interviews I feel more secure with my proposed opportunity because everyone liked my idea. It also showed me differences in how people shop, their styles, and opinions on basics. It also showed me that not everyone would be a potential customer, or interested in the idea which is expected because it's impossible to satisfy everyone. Overall, I think this is a strong opportunity.

6A- Identifying Opportunities in Economic & Regulatory Trends

Questions:
(a)where you found it ?
(b)what leads you to believe that this information suggests an opportunity might exist
(c)who do you think is most likely to be the customer with the opportunity (i.e., the prototypical customer)
(d)is the opportunity relatively easy or relatively difficult to exploit, and why do you think so?
(e)Is there something in your experience, work history, emotions, attitudes, and desires that helped you find this opportunity?

Economic Trend #1- rise in unemployment rate
(a) https://www.bls.gov/news.release/pdf/empsit.pdf
(b) although unemployment is a horrible thing, it can create opportunities for those looking to buy property. As seen in the past, dramatic rises in unemployment causes consumers to have less spending money and therefore prompting a recession. Current unemployment rates just in the month of April increased to 14.7%.
(c) financially well off people regardless of current situation, as well as investors who are looking to buy houses
(d) This opportunity is relatively easy to exploit because if you have the means to buy a home you will be benefitted by the current and projected future decrease in house prices (specially in certain areas).
(e) I noticed this opportunity due to the amounts of friends and family that I see becoming unemployed or being put on furlough. I made the connection between unemployment and recession due to previous knowledge.

Economic Trend #2- stock market prices 
(a) https://tradingeconomics.com/united-states/stock-market
(b) although the stock market is recovering from its steep fall during March-April, it still is a good time to buy stocks given that some companies stock prices have decreased due to the corona virus.
(c) people that invest in stocks
(d) this opportunity is relatively easy depending how knowledgeable you are about the stock market and investing in it.
(e) I noticed this opportunity because of previous knowledge I have of how stock markets work.

Regulatory Trend #1- California Consumer Privacy Act (CCPA)
(a) http://leginfo.legislature.ca.gov/faces/codes_displayText.xhtml?lawCode=CIV&division=3.&title=1.81.5.&part=4.&chapter=&article=
(b) the CCPA "creates new consumer rights relating to the access to, deletion of, and sharing of personal information that is collected by businesses." (https://oag.ca.gov/privacy/ccpa) This can provide opportunities for the state of California and lawyers who can earn money from this.
(c) state of  California and lawyers
(d) this opportunity is relatively difficult to exploit because the reinforcement of such laws are difficult.
(e) I noticed this opportunity because I was seeking to find an opportunity out of this, which made me more aware of what could be taken out of this situation.

Regulatory Trend #2- 2020-2021 proposal to Open Eight National Wildlife Refuges (NWR) for hunting and Sport Fishing
(a) https://www.regulations.gov/document?D=FWS-HQ-NWRS-2020-0013-0001
(b) if passed, this proposed regulation can provide opportunities in the hunting/fishing gear market, specially in the locations near these NWR locations.
(c) people who hunt and fish
(d) i think this opportunity is relatively easy to exploit because there's room to expand on technologies related to hunting and fishing.
(e) I noticed this opportunity because I used to live by a Bass Pro Shop so this reminded of how lucrative the industry is.

5A- Identifying Local Opportunities

Gainesville man arrested after reportedly stealing landscaping equipment from hardware store

https://www.firstcoastnews.com/article/news/crime/gainesville-man-arrested-after-reportedly-stealing-landscaping-equipment-from-hardware-store/77-bbcf70de-df23-4d92-a9dc-c0f3a21ff48a

• Summary: Man was arrested after stealing landscape equipment from Ace Hardware store in a spam of two days and fleeing from officers later on. He stole various plants, mulch, soil, water infiltrators and more which he later would resell from $100 to $120. He was arrested and is being held in a $75,000 bond.

• Problem: security surveillance at store was lacking effectiveness since they didn't notice the theft the moment it occurred.

• Who: Stores of any kind that lack effective equipment or surveillance can have this problem.

VA reports increase in number of appointments at North Florida/South Georgia VA HCS health facility in Gainesville (573QD) in February

https://flbusinessdaily.com/stories/534559321-va-reports-increase-in-number-of-appointments-at-north-florida-south-georgia-va-hcs-health-facility-in-gainesville-573qd-in-february

• Summary: New patients under the Veteran's Affair Health Care System may wait up to 70 days for an appointment when they first enroll for benefits. 97.3% of appointments made in February had a wait time of 30 days or less and 2.7% were scheduled more than 30 days out. The VA says that the wait time is due to the fact that when veterans apply for benefits they are assigned to one of eight priority groups and appointments are placed accordingly. 

• Problem: wait time for patients are long and system is ineffective. 

• Who: patients under the VA HCS

Gas prices begin to rise again in Florida

https://www.wcjb.com/content/news/Gas-prices-begin-to-rise-again-in-Florida-570762651.html

• Summary: Gas prices are rising again, after the memorial day holiday gasoline costs 11 cents more than a week ago across Florida. Gainesville has the second-highest prices in the state at $1.95 a gallon. 

• Problem: with the increase in gas prices along with the environmental situation of Covid consumer's discretionary spending goes down, and many people drive less.

• Who: stores that specialize in non essential products can be affected by having less customers. 

LifeSouth in need of blood donors

https://www.wcjb.com/content/news/LifeSouth-in-need-of-blood-donors-570788311.html

• Summary: local blood bank has seen a big drop in blood donations during the pandemic. LifeSouth asks for donors of any blood type, anyone who donates will receive a free COVID-19 antibody test to help those ill from the virus.

• Problem: significant decrease in blood donations

• Who: patients who are sick and in need of blood

Betsy DeVos releases new Title IX regulations for college campuses

https://www.alligator.org/news/campus/betsy-devos-releases-new-title-ix-regulations-for-college-campuses/article_abeb5ad4-9e04-11ea-81f6-ab0b0be0b2de.html

• Summary: new Title IX regulations were passed for college campuses and will be effective on August 14, 2020. It redefines sexual harassment as "conduct that is so severe, pervasive, and objectively offensive that it effectively denies a person equal access to education". This new definition is more specific and excludes many previous nature of allegations. If allegations don't fit the new definition the school can dismiss the complaint entirely. The changes to the regulation is causing talk between those who support it and others who don't.

• Problem: new regulation is more narrow and can cause dismissing of cases that don't fit the "severe, pervasive, and objectively offensive" meaning if it's not all three components such as if a case is "severe but not pervasive" it can be dismissed. 

• Who: future sexual harassment victims that are college students