30A – Final Reflection

    To be completely honest, ENT3003 was a really fun and enjoyable class. I truly believe that I have learned a lot in this class and I am excited to use what I learned in class and apply to my future. The most fun I had in the class was when I had to think of a local problem and I had to find a solution for it. I believe this ranges from assignments 2A to 9A. I also had fun interviewing people for the assignments that needed an interview. The assignments I came to dislike were the elevator pitches because those were time-consuming since I had to convert the video to my laptop. 
    The assignments that were the most formative experience for me were the interview assignments. I had to get out of my comfort zone and go out and interview random people so I was nervous at first, but I believe I definitely got better as I did more interviews. I believe the assignment I had the most joy in doing was coming up with the idea of a gym app since it was my own original thought. That assignment is also my proudest. 
    At the beginning of the semester, I did not have an entrepreneurial mindset. However, now at the end, I see myself closer to being an entrepreneur. I definitely believed that I have moved closer to developing an entrepreneurial mindset. For the students that are to take this class, I recommend keeping up with and making your own schedule and following it. I didn't do a few assignments because I never followed a schedule and that really messed me up. Overall, this class was really fun and I am excited to see what the future holds. 

29A – Venture Concept No. 2

1)

Opportunity

I started working during summer B of my freshman year and it grew to be my favorite hobby because it helped me take some stress off of school. It also made me feel better and healthier. However, the two gyms during the spring and fall semesters are always packed. Due to it being packed, it is hard for me to use any equipment at all. This left me bitter and sad. I could not get a good workout at the gym and I would sometimes leave early just because I grew annoyed that I could not use any of the equipment. I felt like I wasted my time and I could be doing other activities. One day I was walking across the street and I realized that I can solve my problems with going to the gym. I will make an application that will show the live feeds of both the Student Recreational Center and the Southwest Recreational Center. I told many people with it and they all told me that it was a genius idea. They told I should contact the University of Florida in order to get permission. I knew around that time that this was the million dollar idea that happens once in a lifetime.

Innovation

I planned to create a gym application that integrates with cloud technology. All you would is an account that is easy to set up. In the gym application, I plan to have the live feeds of both the Student Recreational Center and the Southwest Recreational Center. The gym application will also feature a gym journal where you can write down your repetitions and weights you used so can keep track. You can also write as many workout programs in the application as you want. The best part of the application is that it will feature many workout guides with videos and long descriptions on how to perform the workout to the best efficiency. The gym application will also feature a food tracking journal. In the food tracking journal, you can plan what you ate, as well as count your macros and micros. Using Apple's new health software, the application will allow people to keep track of their heart rate as well. The gym application will be free to download and use because I want people to download it. If I did not make it free, it would not survive in the market due to the competition. There are just so many gym applications on the market and many of them cost money. If I made it free, people would be incentivized to get my application because it is free and does not cost money. I will a lot of money from sponsorships. I will be talking to a lot of famous gym personalities like Arnold Schwarzenegger. There will also be a few ads on the application. An ad every hour on the application. While talking to my accountant, there are around 52 thousand students at UF. My statisticians informed me that at least 30 thousand students will download my application. Each ad view by a student is 5 dollars. So I will be making at least 260 thousand dollars a day if people open the app at least once a day.

Venture Concept

My gym application will solve the problem of when to go to the gym because people will be able to look at the live feeds of either the Student Recreational Center or the Southwest Recreational Center and look to see if it is crowded or not. They can then decide for themselves if they want to go to the gym or not. I have a hunch that many people will download this as many people have this problem.

2) The feedback I received was all supporting and very nice. One of the comments said he would be much more motivated to download my app if it was affiliated with Arnold Schwarzenegger. 

3) Based on the feedback, I did not make any major changes since there seems to be nothing wrong with my venture concept no. 1. 

4)  

28A – Your Exit Strategy

1. I will most definitely sell my business to anyone who offers the most money. As long as it is a lot of money than I really do not care who I sell it to. 

2. I chose that exit strategy for many reasons. One of them is because I do not want it to become a family business. I much rather have my children come up with their own ideas and profit from it. Another reason is that I would love to retire before I am 30. That would be the goal.

3. My exit strategy has affected how I will use my resources for my business. Since I am selling it to the highest bidder, I plan to use my resources so I can gain the most efficient and maximum output. That way, it will look good to outside investors. 

27A – Reading Reflection No. 3

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

The book I chose was Innovation and Entrepreneurship by Peter Drucker. The general theme of the book is explaining innovation and entrepreneurship as a practice and discipline.

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

The book explains what entrepreneurship is all about and ENT 3003 is all about entrepreneurship. 

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

I would have students go and come up with their own business ideas. First I would have them come up with needs and then an explanation of how they would fulfill those needs. Entrepreneurship is all about coming up with ideas to satisfy needs so I believe this exercise would be perfect. 

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?

One of the biggest surprises in the book for me was that there was a difference between innovation and entrepreneurship. I thought they were different, but the book explained to me that they are two different things. 

26A – Celebrating Failure

1. I have failed many times in this class. A majority of them is forgetting to submit a URL for assignments.

2. I learn to always pay attention to everything I am doing.

3. Every time I fail an assignment because I forget to submit the URL makes me very frustrated. I put a lot of work into each post and then I learn it was all for nothing. However, this class has taught that failure is okay because without failure, I would never learn from my mistakes. Becoming a successful person means to work hard and being able to learn from one's failure.

25A – What’s Next?

Existing Market

I went and interviewed three people who frequently told me that they used the gym. The first person told me that I should advertise what makes my app different from other apps. The second person told me the same thing. I should focus on what makes my application stand out. The third person told me I should try to check out the user experience of the app. He told me that I should make as easy to use as possible because this is a simple app. He is right that this is just a gym app and not some big tax app so everything should be easy to use.

New Market

I went and interviewed three people who have never worked out in their entire life. The first person told me that my application should offer workout guides with video demos on how to do them in the application. That seems to me like a great idea because it incentivizes people who never used the gym to download it. The second person told me that I will not be able to do it because UF will never give me permission. The third person told me that the idea was horrible and a waste of time.

24A – Venture Concept No. 1

Opportunity

I started working during summer B of my freshman year and it grew to be my favorite hobby because it helped me take some stress off of school. It also made me feel better and healthier. However, the two gyms during the spring and fall semesters are always packed. Due to it being packed, it is hard for me to use any equipment at all. This left me bitter and sad. I could not get a good workout at the gym and I would sometimes leave early just because I grew annoyed that I could not use any of the equipment. I felt like I wasted my time and I could be doing other activities. One day I was walking across the street and I realized that I can solve my problems with going to the gym. I will make an application that will show the live feeds of both the Student Recreational Center and the Southwest Recreational Center. I told many people with it and they all told me that it was a genius idea. They told I should contact the University of Florida in order to get permission. I knew around that time that this was the million dollar idea that happens once in a lifetime.

Innovation

Throughout the history of time, humans have come up with numerous ideas and inventions. One of the greatest invention humanity has ever created is technology. As time has gone by, technology has improved tremendously. The reasoning for this is due to globalization and the increasing knowledge that humans have gained as time goes by. One of the greatest inventions in the past century is the Internet. The emergence of the Internet has revolutionized the world and has brought great changes. It allowed people to connect with one another easier. If someone was in China, a person in the United States could talk to them by emailing them. Soon after the arrival of the Internet emerged another technology that is currently revolutionizing society and impacting industries. That is cloud computing. With cloud computing, people are able to store data in a cloud A.K.A the Internet. People no longer need to go and buy expensive new hard drives, they could save everything online. Examples of things that integrate with cloud computing are Dropbox, Google Drive, Instagram, etc. Cloud computing has also cut expenses and costs as well. Companies and businesses would spend millions buying the new software for their day to day operations, but with cloud-based software, everything is up to date so people do not need to go out and buy the newest update. In addition to this, cloud computing helps save space since everything is online. People do not need to go buy new memory cards or even new computers in order to use cloud-based applications. Companies love cloud computing due it being so flexible. It does not matter if the business is small, medium, or large. With cloud computing, companies can scale the cloud-based software to their preference base on their businesses. Another important feature of cloud computing is data security and back up. Have you ever wrote a huge report that is over five thousand words and then your power goes out and everything is lost? Well, most people would say yes to that and it is a common problem. However, with cloud-based software, everything is saved automatically due to real-time tracking. In another scenario, let's say that your computer dies and all your work is gone. With cloud-based technology, you can access your work and data from different devices such as desktops, laptops, tablets, and smartphones. It is amazing how far technology has come!
That is why I planned to create a gym application that integrates with cloud technology. All you would is an account that is easy to set up. In the gym application, I plan to have the live feeds of both the Student Recreational Center and the Southwest Recreational Center. The gym application will also feature a gym journal where you can write down your repetitions and weights you used so can keep track. You can also write as many workout programs in the application as you want. The best part of the application is that it will feature many workout guides with videos and long descriptions on how to perform the workout to the best efficiency. The gym application will also feature a food tracking journal. In the food tracking journal, you can plan what you ate, as well as count your macros and micros. Using Apple's new health software, the application will allow people to keep track of their heart rate as well. The gym application will be free to download and use because I want people to download it. If I did not make it free, it would not survive in the market due to the competition. There are just so many gym applications on the market and many of them cost money. If I made it free, people would be incentivized to get my application because it is free and does not cost money. I will a lot of money from sponsorships. I will be talking to a lot of famous gym personalities like Arnold Schwarzenegger. There will also be a few ads on the application. An ad every hour on the application. While talking to my accountant, there are around 52 thousand students at UF. My statisticians informed me that at least 30 thousand students will download my application. Each ad view by a student is 5 dollars. So I will be making at least 260 thousand dollars a day if people open the app at least once a day.

Venture Concept

My gym application will solve the problem of when to go to the gym because people will be able to look at the live feeds of either the Student Recreational Center or the Southwest Recreational Center and look to see if it is crowded or not. They can then decide for themselves if they want to go to the gym or not. I have a hunch that many people will download this as many people have this problem.