Final Reflection

What sticks out to me the most as a formative experience is getting all of the many, many interviews necessary to do the assignments in the class each week. I really thought it would be a lot easier to find this many people, but I was ultimately wrong. What I’ve taken away is that in order to really get an idea of how people will accept your business idea, you need to do a lot of work and actually talk to them. A lot of them. My proudest accomplishment during this class was hearing from professionals in areas that I would need to work with in the development of my product that it was a good idea and had a lot of real world potential.

I guess I feel like I have more skills in entrepreneurship because I’ve put them to use in this class, but I don’t really see myself as much more of an entrepreneur than I did at the beginning.

One recommendation I’d make to the students venturing onto this path would be to prepare yourself for all kinds of questions from interviewees, both negative and positive, when putting your idea out there. You want to seem like you know what you’re talking about…even if you don’t. It’s all about confidence and preparation. To perform best in this course, just do the assignments early in the week, so you don’t have to worry about scrambling to find people to interview last minute.

Venture Concept No. 2

There are millions of people who use water as an environment for leisure, work, and play by using boats, jet-skis, and other water treading machines daily. However, these activities we partake in have extremely detrimental effects on the life below the water’s surface, and these issues we create for the life in bodies of water have gone unchecked for too long. Therefore, the opportunity I’ve discovered is a way to help marine animals of all kinds stay out of danger when people decide to use their habitats for personal gain without thinking of the repercussions they may be causing.

I'm hoping that those who use water as a place for activity will feel inclined to take simple measures to make their habits less impactful on marine species, which is why I’ve come up with the product that I have. It is cheap, easy to manufacture, requires no set up or building after purchasing, and is expected to last a long while and do its job well. Most likely, people who both use boats/other motorized water equipment and are environmentally conscious will be inclined to use my product, as it will prove to be the most economically feasible and structurally innovative design on the market once the venture process has gone full swing.

The market I am trying to break into has a lot of room for growth and development, as not a lot of products have been introduced to combat the issue of injuring marine animals while on the water that have been both affordable and effective. Currently, the best option out there are caged metal ring motor covers, which, while they protect the motor blades from coming into contact with animals, are expensive, not overly eco-friendly, and can still catch smaller animals and debris inside, either hurting those smaller species and/or breaking the boat motor.

To go more in depth, my product is essentially a cling fit cover to protect each individual blade on a propeller, made with durable material, with a soft buffer on the inside. This way, if the blade comes in contact with an animal, its strike will not be as harsh or injurious, and will lessen the impact on that animal. Each blade will have an individual sleeve, and the sleeves will connect in the middle so they remain on the propeller as it moves through the water. The idea is to lessen the sharpness of the blades without altering the water dynamics of the propeller itself, still allowing the watercraft to cruise along at normal speeds, and protecting the marine life that may come into contact with it. I will be selling the propeller cover by individual sleeve, so that propellers with all different numbers of blades can be accounted for. They will all come with the necessary connectors to attach in the middle. I’m assuming that each sleeve will run no more than $10, as the materials needed to manufacture are not overly expensive, and there is little engineering needed in the making process.

I believe that, while my innovation won’t entirely eradicate the issue of harming marine animals when using boats on the water, it will help not only lessen the intensity of the issue, but also bring awareness to the problem itself. It is a great way to bring light to the situation when many people may not be completely aware that it exists. I also believe that, being it is so much more affordable than the current “solutions” on the market — caged propeller protectors that run anywhere from $200-$300 — it will reach the far ends of the bell curve of customers that may have not taken safety measures to save marine animals because they could not afford to. It is such an easy concept that I’m surprised hasn’t been put on the market already by a different entrepreneur with a mind for saving animals. I am extremely passionate about the underlying issue behind this product and am therefore extremely invested in the success of it.

I think the most important resource to me in this venture process is the low cost and ease of manufacturing this product. With a lot of new products on the market, they include a multitude of technological components that require a lot of skilled assembly before they can be used by consumers, not only jacking up the price, but also subjecting consumers to technical difficulties with the product. My product is not fancy in any way — it is just practical and makes sense. In the next steps in my venture process, I am planning on making accurate prototypes and testing them to see if my idea actually holds up in the real world. It is easy to assume that it will all work out when simply talking about it, but for this product to be successful, it obviously has to work and do the job that it’s promising to do. Therefore, this is a crucial next step for me to take as I continue forward. I am hoping that my product will materialize into something great that consumers will really want to invest in. Myself and my product stand for a great cause that needs to be brought more into the public eye, and I believe that once people recognize that, it will be extremely successful. “Help the animals” is always an appealing campaign as it is, because consumers can’t help but sympathize with cute pictures of manatees and dolphins with boat strikes on their backs. So, when I’m offering a solution that can be so easily implemented into the everyday lives of people who use water for any sort of activity, I believe it will really be a hit. I am excited to keep going in this process and really see where my idea goes from here. I have already received a lot of positive feedback from potential customers, which is a great sign. I’m excited to take steps to really help save marine animals, as I am so passionate about the issue.

________________________________________________________________________________

The feedback I received from my previous concept was all relatively positive, except for a few helpful tips on how to explain my product better so people can understand it without an illustration (although now I always try to include an illustration). 

People mostly said they really enjoyed how passionate I am about the cause behind my product, and that it reflected through my assignments and explanations of my venture concept. I also got helpful feedback that it was hard to visualize my physical product without some sort of illustration of it, so I either need to include that or change my description so that it paints a better visual picture. 

Since the first venture concept form that we filled out, I have changed the way I describe my product so the idea is easier to grasp.

My Exit Strategy

As my exit strategy, I plan to do it within the next few years once the business has had enough time to test out its success. Honestly, I do not plan on pursuing this business as a career, but I am willing to hold onto it past this class to see if it could gain any real world traction. However, After a few years, I will most likely just add it to my list of great experiences and move on. While I’m passionate about the cause, I’m not overly keen on going into business as a career field. Plus, I could possibly pawn off the idea to someone more qualified and better at manufacturing, marketing, and selling merchandise. I would need al lot more experience to actually pursue this long term, and a lot more of a desire to. Regardless, I am appreciative that I’ve been able to learn about the venture process so in-depth, as I believe all skills are useful skills, and will be used in small and large increments throughout my lifetime.

I think that my exit strategy has influenced my diminished desire to really succeed with this venture process, as I don’t feel I will be taking it in any given direction once my college career is over, and therefore I haven’t put nearly as much effort into these steps as I could have, if I decided to move along with my product and overall idea. However, on the bright side, it has influenced how I identify opportunities, and has helped me to see that there are a lot of important steps that lead into being successful in all important aspects of life, and carefully navigating each and every step of this venture process has helped me to look at big decisions or tasks differently, and really break them down and analyze them in smaller, more feasible pieces.

Reading Reflection No. 3

In the book “Thinking, Fast and Slow” by Daniel Kahneman, the idea of cognitive biases and the dichotomy between two modes of thought, slow and fast, is studied and broken down. Kahneman dissects the difference between these two “systems” of thought, and why each of them is important in their own way. There is “fast” thinking, which is automatic, frequent, emotionally charged, and often unconscious thought. I immediately thought of this as instinctual decision making, similar to “trusting your gut”. On the contrary, “slow” thinking requires more of an effort, it is more infrequent, logical, and consciously done. This would be the process of anticipating something, as you are thinking about it before it happens. The book describes how even with the same inputs, these two thought processes will arrive at different results. It is very interesting to listen to the reasoning behind human decisions based on research.

I think the book connected to what we’re learning in this class in its emphasis on putting thought into things and making our actions intentional. As an exercise for the class based on this book, I would suggest giving a set of hypothetical scenarios, and having students report on which ones they came to immediate, intuitive conclusions, and on which ones they had to sit and think about their answer to. Then, they could reflect on why they believe the conclusions they came to within seconds occurred as “fast” thought evoking scenarios, and vice versa regarding the “slow” thinking conclusions they came to. It would be helpful to the student so they can better understand their chronological processes of thought.

Celebrating Failure

This semester, I definitely failed at a lot of things, both big and small. There were tiny failures, like forgetting to do my cupcakes week after week (oops), and bigger ones, like needing to drop organic chemistry because my grade was so low (double oops). 

I have learned that I need to learn how to organize my time and priorities better than I’ve been doing thus far. Clearly, I was not together enough to remember to do the weekly cupcakes in this class by noon on Monday, and I wasn’t dedicated enough to organic chem to diligently study the material each and every day. Now, I know that I 1. Need to set reminders on my phone to do the cupcake assignments, and 2. Need to prioritize certain classes and studying their material over taking naps or TV breaks. It has been a hard pill to swallow studying my you-know-what off for a class that I don’t particularly care about, and still failing the exams (talking about orgo). In order not to feel like an idiot and a total failure, I had to realize my strengths at some point, and understand that chemistry is just not one of them. And that’s okay! There are still ways I can end up having a fulfilling career and life without needing to take the organic chemistry sequence.

I take failure very seriously, and am often too hard on myself about it. Even when I fail at the smallest thing, it conflates in my mind and blows the situation out of proportion. It also causes me to forget about all the small and big victories that I’ve had, to negate the failures. All in all, I am still moving in the forward direction, even if there are small steps backward here and there. It is important to understand that failing doesn’t make you a failure — because even through it we’re learning to be better as people and understand ourselves more. 

Venture Concept No. 1- My Boat Propeller Cover

That there are millions of people who use water as an environment for leisure, work, and play by using boats, jet-skis, and other water treading machines daily. However, these activities we partake in have extremely detrimental effects on the life below the water’s surface, and these issues we create for the life in bodies of water have gone unchecked for too long. Therefore, the opportunity I’ve discovered is a way to help marine animals of all kinds stay out of danger when people decide to use their habitats for personal gain without thinking of the repercussions they may be causing.

I'm hoping that those who use water as a place for activity will feel inclined to take simple measures to make their habits less impactful on marine species, which is why I’ve come up with the product that I have. It is cheap, easy to manufacture, requires no set up or building after purchasing, and is expected to last a long while and do its job well. Most likely, people who both use boats/other motorized water equipment and are environmentally conscious will be inclined to use my product, as it will prove to be the most economically feasible and structurally innovative design on the market once the venture process has gone full swing.

The market I am trying to break into has a lot of room for growth and development, as not a lot of products have been introduced to combat the issue of injuring marine animals while on the water that have been both affordable and effective. Currently, the best option out there are caged metal ring motor covers, which, while they protect the motor blades from coming into contact with animals, are expensive, not overly eco-friendly, and can still catch smaller animals and debris inside, either hurting those smaller species and/or breaking the boat motor.

To go more in depth, my product is essentially a cling fit cover to protect each individual blade on a propeller, made with durable material, with a soft buffer on the inside. This way, if the blade comes in contact with an animal, its strike will not be as harsh or injurious, and will lessen the impact on that animal. Each blade will have an individual sleeve, and the sleeves will connect in the middle so they remain on the propeller as it moves through the water. The idea is to lessen the sharpness of the blades without altering the water dynamics of the propeller itself, still allowing the watercraft to cruise along at normal speeds, and protecting the marine life that may come into contact with it. I will be selling the propeller cover by individual sleeve, so that propellers with all different numbers of blades can be accounted for. They will all come with the necessary connectors to attach in the middle. I’m assuming that each sleeve will run no more than $10, as the materials needed to manufacture are not overly expensive, and there is little engineering needed in the making process.

I believe that, while my innovation won’t entirely eradicate the issue of harming marine animals when using boats on the water, it will help not only lessen the intensity of the issue, but also bring awareness to the problem itself. It is a great way to bring light to the situation when many people may not be completely aware that it exists. I also believe that, being it is so much more affordable than the current “solutions” on the market — caged propeller protectors that run anywhere from $200-$300 — it will reach the far ends of the bell curve of customers that may have not taken safety measures to save marine animals because they could not afford to. It is such an easy concept that I’m surprised hasn’t been put on the market already by a different entrepreneur with a mind for saving animals. I am extremely passionate about the underlying issue behind this product and am therefore extremely invested in the success of it.

I think the most important resource to me in this venture process is the low cost and ease of manufacturing this product. With a lot of new products on the market, they include a multitude of technological components that require a lot of skilled assembly before they can be used by consumers, not only jacking up the price, but also subjecting consumers to technical difficulties with the product. My product is not fancy in any way — it is just practical and makes sense. In the next steps in my venture process, I am planning on making accurate prototypes and testing them to see if my idea actually holds up in the real world. It is easy to assume that it will all work out when simply talking about it, but for this product to be successful, it obviously has to work and do the job that it’s promising to do. Therefore, this is a crucial next step for me to take as I continue forward. I am hoping that my product will materialize into something great that consumers will really want to invest in. Myself and my product stand for a great cause that needs to be brought more into the public eye, and I believe that once people recognize that, it will be extremely successful. “Help the animals” is always an appealing campaign as it is, because consumers can’t help but sympathize with cute pictures of manatees and dolphins with boat strikes on their backs. So, when I’m offering a solution that can be so easily implemented into the everyday lives of people who use water for any sort of activity, I believe it will really be a hit. I am excited to keep going in this process and really see where my idea goes from here. I have already received a lot of positive feedback from potential customers, which is a great sign. I’m excited to take steps to really help save marine animals, as I am so passionate about the issue.

What's next?

Existing Market

I believe that what’s next in my venture is to actually attempt to manufacture the product and run it through durability tests to make sure that the design is sound and won’t cause problems. After interviewing customers already part of the market I’m looking to move into, they agreed that I should test the safety and ability of my product before I start to market it. Moving from here, I want to work on making prototypes with the same or similar materials that the real product would contain and test them by making impact with different materials that would represent the skin of an animal in the water, to see how it holds up.

New Market

I’m planning on targeting people who don’t own boats or other water sport apparatus, as they would virtually have no interest in my product.

I honestly don’t think my concept would be able to create value for these people, unless they were hesitant to partake in activity on water in other people’s crafts because of harming the safety of animals. I suppose a way to bring them in would be to target those who do touristy things like glass bottom boat rides and renting jetskis, and tell them that my product could give them peace of mind while taking part in these activities.

I interviewed people from this market, and they think that the idea is good but should be marketed as saving more than just marine animals- I also need to put emphasis on the environmental and economical benefits my product can have. With the already existing caged ring motor protectors, they decay, rust, and fall apart in the water, leaving harmful debris floating around, and also don’t last long if not taken care of properly. Additionally, these can cost hundreds of dollars to replace. However, my product has no external apparatus that would disintegrate into the water, and is so cheap and easy to manufacture that if it breaks, it is an easy investment to buy another one.

I think I was able to draw a lot from this new market and learned to emphasize a lot more of the economic and business aspect of it, rather than the humanitarian one. I was correct in assuming that the people I interviewed wouldn’t have a large personal investment in the cause behind the product, and I don’t assume that these same people would be buying it. However, I gained some valuable and objective insight from them regardless.

My Venture's Unfair Advantage

1. Passion for cause behind product

V- consumers love to see people passionate about their product

R- not every entrepreneur may feel overly connected to their cause

I- not everybody feels such a strong pull to help marine animals

N- you simply won't find many other people who care this much.

2. Strong connections to relevant network

V- useful when needing to consult experts to help improve product/business

R- it can be hard to break into the community behind a business

I- essentially the same reason it is rare.

N- you can’t get expert opinions from experts in other, irrelevant fields

3. Personal investment in cause and success of product

V- this will keep me motivated throughout the venture process.

R- not everybody develops a product that has to do with their main interest (mine is marine biology).

I- I feel my amount of passion about this issue is pretty hard to surpass.

N- You need a passionate person to make this work, so you can’t sub that out for anyone else

4. Minimal yet effective design

V- product won’t be confusing to consumers

R- many new innovations require a lot of engineering and tech that can create challenges

I- it takes a lot of planning and skill to come up with products that are this easy to be made

N- there is no need to make this design any more complicated.

5. Few materials needed for product

V- product will be cheap to manufacture

R- many new products on the market require a complex amount of materials

I- I suppose it isn’t hard to copy

N- Not sure how to answer this one, honestly

6. Relatively undeveloped market with room for new innovations

V- there is much room for growth in this market.

R- many other types of markets, such as tech, are oversaturated with people trying to push their products into it.

I- not every market such as marine safety has this much opportunity for innovation

N- there aren’t other resources that can provide these benefits.

7. My extroverted and relatable personality

V- helps me to connect with people

R- a lot of smart people with great ideas are introverts.

I- just try finding someone else with this sense of humor.

N- nothing beats a good pun

8. Confidence in product

V- you gotta believe in yourself to make it.

R- not every entrepreneur may believe in their product.

I- not everyone has such a great product!

N- there aren’t other resources that can provide these benefits.

9. Knowledge of website design

V- will help if I want to sell my product online

R- not every entrepreneur necessarily has computer skills to help build their business

I- it is not hard to copy

N- You could always hire someone to build a website if you weren’t good at it.

10. Ability to design and produce promotional videos

V- can help with the marketing of my product

R- this isn’t a rare skill.

I- this can be copied by others

N- you could just use person-to-person marketing instead of being online.

After my VRIN analysis, I think my top resource is the fact that the market I am emerging into is has a lot of room for growth, and this will be great when introducing my product as it is most likely going to be the only “brand new” idea for a while. The other resources are helpful, obviously, but in the end, what determines the success of a product is how much exposure it gets, and if there aren't a million other innovations overcrowding my product when it debuts, it will most likely be more successful and remain relevant for a longer period of time.

Reading Reflection No. 2

1. The general theme of this book was describing how failure and mediocrity can actually contribute a lot more to success than people may think. It also discusses how to increase what you get done throughout each day. The book states that one of the most important tricks for maximizing your productivity involves matching your mental state to the task.

2. I think the book connected with me because I am always pushing myself way too hard to work hard and be successful, and sometimes when things don’t go my way, I feel like a disappointment, a failure, and I am crushed. Therefore, reading about how failing can lead to success in a way I hadn’t thought of before, it was really helpful to hear. I think this applies to what we’re learning in this class as it encourages you to “think outside of the box”, and this opinion is definitely an out there idea, and a perspective that I wouldn’t usually take on when I fail at something.

3. I would design an exercise that asks students to list a moment in which they epically failed at something that they worked hard for or on/something that they weren’t expecting to not go their way. Then, I would have them examine what good actually ended up coming out of that failure, and how it ended up contributing to a future success or taught a valuable lesson.

4. I think what I learned that surprised me the most was the goal vs. systems idea. The book states that there is a difference between a goal, or a long term achievement you’re striving towards, and a system, something you do every day that makes steps towards that goal. While having goals has always been a way to motivate me to work hard, the book shares that goal-oriented people exist in a state of continuous pre-success failure. That really hit me. One should have a system, like exercising every day, as opposed to a goal, like losing 20 pounds. In a system, at least you are making positive changes in an aspect of life that you wish to alter. So, even if you don’t reach the goal, you don’t feel like you’ve failed. 

Growing Your Social Capital

1.  This person is the owner/manager of a marina in South Florida. Therefore, they know a lot about the ocean and the boat traffic that comes through. They also operate a small bait and tackle shop in the marina, and would most likely carry the type of product that I’m trying to sell.

2.  They are the domain expert in my industry.

3. I found this person by looking online. I have family in South Florida that live near the beach and knew of a marina that was very large and well established. I contacted them over email.

4. They were happy to answer my questions for no return favor. They are a supportive member of the marine community and therefore weren’t expecting any favors to be done.

5. Having this person in my network will give me the opportunity to present my product to the exact market that I’m looking for.

_________________________________________________________________________________________________________________

1. This person is a supplier of silicone and rubber products.

2. They are the important supplier to my industry.

3. I found them by google searching people who mass distribute silicone materials to businesses that need them to manufacture their products.

4. They were also willing to answer my questions without expecting any favors in return.

5. Including this person in my network would be a great way to obtain the silicone materials I’d need to make my product.

_________________________________________________________________________________________________________________

1. This person is the head of PR of a company who sells caged metal rings to put around boat propellers (the most popular option on the market currently).

2. They are the expert in my market.

3. I found this person by google searching, and emailing the contact I found on their website.

4. They expected nothing in return.

5. This person was able to give me helpful info into what its like to sell a product in this market and what it would most likely be like to enter it as a new competitor with a new product.

Idea Napkin Part 2

1. I am a college student currently studying marine biology, a recent change from where I previously wanted to become a vet. I have an ungodly amount of compassion and love for animals and therefore think it will serve me well in the field I want to go into. I am also extremely funny (at least, I think so) and I think that helps me a lot to make connections with those who can help me reach my goal, as I can be seen as more relatable. I think my business concept kind of reflects what I want to do and my love for all things animal related (it’s literally a product to help preserve marine species) and I think working in the field of marine biology, the perfect field for this product, would be an amazing platform to market and sell it.

2. I am offering to customers a product that will have little to no impact on their boating experiences while helping to save close-to or already endangered species from being put in harm’s way. 

3. I’m offering this product to the boating community, and/or anybody who participates in activities that exist out on the water. All of my customers have in common that they make an impact on the aquatic world that they exploit for these activities.

4. I would hope that those who use the water for their own personal gain would care a little about the species that live underneath, therefore, they would want to take measures to make sure they aren’t harming the aquatic ecosystem. It would most likely give them more peace of mind.

5. I think what I have that sets me apart is an idea that isn’t technology-based. It seems like the majority of innovations these days have something to do surrounding computers or tech, and that always creates a large gap and learning curve for those who may not use the product because they do not understand this. My product is just a tangible, non-digital thing that everyone can understand how to use.

I think these elements fit together in the sense that there isn’t a better field to go into, other than marketing, where I could reach the community of animal lovers. Those who care about the wellbeing of aquatic animals would then be able to spread the word to people who boat and do other water-related activities, and could come at it from an angle of compassion.

Creating a Customer Avatar

For my product that puts a protective cover over boat propellers, I imagined the "typical customer" as not the boaters who would be using them, necessarily...but the boaters' spouses. Mostly because the women of the family are historically more sympathetic to environmental causes (from my research, not just making an assumption), I would like to think that they would be the one to see the product and buy it for their family boat. Therefore, here's "the boater's wife" customer avatar:

I assume this boater's wife, probably named something like Amy, saw the pamphlet for my product in the bag of merch her husband brought home from the latest boater's convention. She saw the booklet and thought "this propeller cover would save the manatees!". So, she went online and bought it. 

Amy is in her early 30's, and probably has two little kids of her own who have grown up fishing and swimming with their family. They go to her in-laws' lake house every Summer to jetski, waterski, and bounce on those water trampoline contraptions. Now, she can tell them that while they're having fun on the water, they are helping to preserve nature's most beautiful species, and hopefully her kids will grow up being well-rounded environmental activists, all thanks to my product.

The car she drives is a high-mileage economy SUV, and her husband's car is a boat.

I think I have in common with Amy that we both care (at least topically) about the environment and therefore felt propelled to do something about it that was also extremely easy to do and required minimum effort. Being we are using the water environment for our own personal benefit, it makes sense that we take the precautions that are presented to us to protect the species that thrive in the water.

My Secret Sauce

My human capital:

1. I’m really, really funny (in person, at least). A genuine dry sense of humor is a really great characteristic to possess because they are few and far between, and it really helps me to connect with people who I would otherwise have no angle of approach with. It is a good way to draw people in and keep them engaged in conversation.

2. My passion for animals. I know I’ve probably doted on this too much, but I really do think its a trait that sets me apart in the market that I’m trying to weasel my way into. It’s always a great selling tactic to evoke that pathos in customers, and when anyone sees a seller that seems truly emotionally invested in their product, it instantly makes it more appealing. Like, if it has the ability to make them so passionate, it could have that same effect on you.

3. The extreme pressure I’m always putting on myself. Not to pat myself on the back, but I am fully aware that I’m a crazy hard worker. However, whatever I do never feels like “enough” to me, even if it is to everyone else, and therefore I’m constantly pushing myself harder and further to do better or be smarter or work harder — sometimes to my own detriment. Being I’m the only one putting that kind of pressure on myself, I'm the only one who can take it away, and I just don’t know how to do that.

4. My cynicism. This may seem like a weird trait to embellish or put on a pedestal but I really think a strong sense of pessimism is necessary in business. If you’re always looking for the positive in things, you can sometimes miss signs of change that could be in your future, and you won’t be prepared for them, which can cause big problems. It’s important to doubt certain things and coin certain opportunities as “too good to be true” because sometimes, a little skepticism can take you a long way in a world where others are constantly trying to dupe you.

5. My extroverted introvertedness. It’s definitely an interesting combination, but helpful — I know how to work people, but also am happy to be left alone all day to get work done, and can easily recharge with some good alone time. Plus, possessing both kinds of personality helps me a lot to read people more easily and get an idea of how outgoing or shy they are.

_________________________________________________________________________________ 

The five people that know me best all described me as hard working and relentless when it comes to giving myself even the slightest bit of credit, which is definitely true. I’m hard on myself and rarely give myself a pat on the back for doing all the things I do. They also mentioned my ability to connect with people through humor. Mostly everything they said I had already assumed about myself, so its good to know I’m projecting exactly what I’m thinking. Consistency is key.

Figuring Out Buyer Behavior #2

After conducting the three interviews to assess buyer behavior, I concluded that most consumers prefer products that are not only convenient to obtain, but also provided at a reasonably low price. It seems that, even when taking measures to protect the environments around them, boaters don’t want to spend any exorbitant amount on something to make their boats safer to marine life. They care, but not if it takes too much cash out of their pocket. Additionally, it seems that the ability to purchase products online appeals the most to buyers because it is not only convenient, but they can evaluate that product based on the customer reviews provided. 

I presented the people I interviewed with either my boat propeller sleeve, an entirely internal boat propeller that doesn’t protrude from the frame of the boat at all (the safest option), or a metal cage-like feature to put around their boat propeller (what mostly exists on the market now). My product was the cheapest, but because of the wide popularity of the caged protector — that does its own special damage on the ecosystem surrounding it — they were likely to be interested in that product as well. Still, the cheaper option appealed to them, and with the novelty of my idea, that is what won them over. While the internal motor would eradicate the issue entirely, it is extremely expensive to buy and maintain, so it was the least popular option by far. All of these propeller options could be found online, which was seen as an upside, as it was the easiest method to get the product from business to front door. 

I would use basic human understanding to assume that consumers deem a purchase worthy if it appears similar enough to its online presence and holds up in the activity it was purchased for. For example, if they ordered my product and it did exactly what it promised to do without falling apart, they would be happy with their decision to try it. However, if it started to disintegrate after the first use and proved to be a pain to get on/off the propeller to clean, they would most likely be dissatisfied.

I would say overall that consumers are happiest when cheap products do the same job that more expensive products along the same strain would do. People love to feel like they scored a bargain on an effective product, and the ease that online ordering has brought to the consumer market is an important factor when considering which products buyers will invest their money in.

Halfway Reflection

1. The behaviors I’ve utilized the most in being successful in this course are diligence, responsiveness, and organization. It’s important to be diligent about doing the assignments every week, as they are almost 100% of the grade weight in this course since there are no tests or finals (aside from the cupcakes). It’s also important to remember to do the peer reviews even though they carry over into the beginning of the next week. Responsiveness is enacted when completing peer reviews, as you need to write comments on other’s posts that both respond to what they wrote and tie into your own post and the assignment overall. Organization is also definitely key- if you don’t plan out at the beginning of the week when you’ll take care of your assignments for this course- you’ll most likely forget and not get the grade.

2. I felt like giving up the most when I came across the assignment where we had to come up with a vague business idea. Before I had the idea to use one that I came up with in the past, I was trying to think of something completely new, and had absolutely nothing. There was nothing inspiring me to create, and I think the idea I came up with was pretty underdeveloped and awful- so I’m glad I’ve since changed it. But, when trying to come up with that “new” idea, I just couldn’t for a while- and really wanted to throw in the towel. What kept me going was the fact that I need a good grade in the class and knowing that giving up simply wasn’t an option.

3. Three tips I’d give a student taking this next semester would be:

1. Pay attention to when the cupcakes are due! Being due on Monday at noon has really thrown me for a loop as we’re so used to things being due at 11:59pm. Make sure you put reminders in your phone to complete them BY NOON on Monday!

2. Let the assignments build on each other as you go. At the beginning of the class I didn’t really feel like I knew what I was doing, but as the assignments go on, a lot of the past ones can help with the current and future ones, and you can use the skills you learned after completing those older assignments to help you through the process of completing the new ones.

3. Make your posts enjoyable to read. It’s easy to become monotonous and just complete the assignment for the sake of the grade, but other students have to read and reply to what you write, and you don’t want to make it so boring that it’s almost impossible to get through reading your posts. You want people to be able to relate to what you came up with, so put your own personal flair into each passage you write.

I wasn't sure what type of photo to include in this post, so here's a very enjoyable picture of my dog, Chloe:

Reading Reflection No. 1

1. What surprised me the most was how relatable Mary Kay was- I wouldn’t have known without reading the book that she experienced such hardship and adversity so close to the launch of, and during the running of, her business. It made her seem more like a real person who has dealt with issues similar to us all, and made me appreciate her work ethic much more. I really admire the fact that she did not let any of the hardships that came her way stop her from achieving the goal she set up for herself. Even after having sick family members, and losing her husband, she just reached out further than before for support to continue working hard despite what was happening in her personal life. Mostly- the fact that she never lost sight of her goal. I really couldn’t say what I least admire about her.

2. I noticed that Mary Kay has many, many competencies that she uses in her every day life and business to get her through. She discusses knowing how to balance both work and family, and where and when to draw lines between the two. She is able to market her “woman who has it all” public personality as attainable to her customers, and also brings amazing advice to the table, such as giving off great one liners like “the only difference between a successful person and an unsuccessful person is extraordinary determination”. It really makes it seem like she has it all together and that makes her and her brand much easier to market.

3. A part of the reading that confused me was the overarching message that Mary Kay was an “incurable optimist”, and that only those type of people stand a chance of succeeding in life. I disagree with that, and believe that possessing even a small amount of pessimism is necessary to handle reality and truly appreciate the good things that do come. I think it is important to see negatives in certain things to really put an emphasis on the positives. Also, being life is never without struggle, it’s crucial to have the emotional intelligence to deal with those problems, and a lot of times, you can’t just “happy” away your issues.

4. I would ask Mary Kay what exactly inspired her to pursue a make-up business, as in, what part of her saw that as being an attainable goal. To me, I would shy away from that market due to the extreme complications that can arise with chemical engineering of cosmetics. I would also want to ask her if there is anything she would go back and change now that she has amassed such a huge success and following.

5. I think the entrepreneur sees hard work as the number one thing that predicts success, and therefore wouldn’t have gotten to where she is without it. I agree with her- in the line of work I want to pursue, if you don’t work hard, you’ll very quickly be beat out by competition and by those who are willing to work circles around you to climb the ladder.

Buyer Behavior Part 1

The segment I chose was people who know a lot about the issue of manatee protection and endangerment, as they would be able to provide me with the most insight into what the true needs of the effort are. I was actually able to meet with a researcher within UF’s Large Animal Aquatics department, who conducts research on manatees and their migration habits. She was able to provide me with a lot of helpful information regarding what dangers they put themselves in when unable to move out of the way of incoming boats, and how it affects them long-term. The other people I interviewed were an animal rights activist and a boat owner. They came at the issue from very different angles, obviously, but both seemed to care about the wellbeing of aquatic animals- just to different degrees. 

After this, I realized that when these individuals are looking for options to reduce their impact on aquatic ecosystems, they look for alternative ways to do the activities they are already used to doing, or for products that will make it easier to be kind to the environment without truly impacting their day to day doings. 

I think that the awareness is relatively out there in the boating community and that people know manatees and other large aquatic animals are being affected by our activities, but there haven’t been solutions marketed to them that seem to make it “easy enough” to care more. People are looking for quick, effortless ways to be more worldly and aware, and I think my product offers that more than others do.