Book: The Art of Social Media, by Guy Kawasaki
1. This book contains many various insights on how to utilize social media for your institution. The book is designed to help people understand how to use social media to grow their digital assets.
2. This book is similar to the lessons on building social capital. Companies can use tips present in this book to grow their digital capital by optimizing company profiles and attracting views and clicks. Growing your digital capital through social media is similar to building social capital except the people you are connecting with are strictly on social media. The main difference is that social capital is more directly beneficial to a business, whereas social media capital is geared towards the businesses exposure and appearance. I would say that growing social capital is more important early in a company's life, and growing digital capital comes later.
3. An exercise relating to this topic would involve studying different companies presence on social media. The students would be asked to give some examples of good use of social media usage, and some bad examples of social media usage. They would be asked to give their reasoning for coming to these conclusions, and would likely cite information from the book itself.
4. There is a section titled, "feeding the content monster". In this section, it discusses the struggles of finding enough content to satisfy the needs of social media users. What I did not expect was the fact that too little content was a bad thing. I was under the impression that if you did not have sufficient content, it would be wise to not post anything at all. It turns out that in order to keep your media presents, that you have to either "create, or curate" content for your followers.
Friday, November 30, 2018
Assignment 30
1. What sticks out to me reading my old posts is how much I fleshed out my actual concept. It started off as just a thought I've had for a business, to a fully formed idea with feedback and specific details. The experiences that I will remember are the ones where I had to buckle down and actually form the full business concept. The most joyous experience for me was the act of actually thinking, in the mindset of an entrepreneur, about how I would run this type of business. I am most proud of my ability to find and specify certain details of the business, given certain topics and feedback.
2. I believe I have a more entrepreneurial mindset after this course. I believe this because before this course, the idea of selecting a specific customer group was foreign to me. When I was younger, I always just assumed everyone was a potential customer. This is not the case. If you want to form a business, you must find out all the possible information so you can focus your efforts.
3. My biggest recommendation for students in this course is commit to an idea that you feel very passionate about. I chose to make a business revolved around cars, as I am a huge car guy. This will make it very easy to get into the nitty gritty of the assignment and commit to putting in a good effort.
2. I believe I have a more entrepreneurial mindset after this course. I believe this because before this course, the idea of selecting a specific customer group was foreign to me. When I was younger, I always just assumed everyone was a potential customer. This is not the case. If you want to form a business, you must find out all the possible information so you can focus your efforts.
3. My biggest recommendation for students in this course is commit to an idea that you feel very passionate about. I chose to make a business revolved around cars, as I am a huge car guy. This will make it very easy to get into the nitty gritty of the assignment and commit to putting in a good effort.
Assignment 28
1. I believe my exit strategy will be dependent on a variety of factors. But if I had to pick a certain exit strategy given the correct events, then I would choose to sell my business for a return after some time. The amount of time that it would take also depends on certain things. For instance, if in 5 years I can sell my business for a large enough return to retire, then I will sell it after 5 years.
2. I have selected this strategy because given a large enough return, I can safely invest that money into an annuity type account and live off the returns for the rest of my life. Obviously that would require a hefty down payment, but if I can make it happen, then I will be a happy man. I am willing to put in the time required to grow my business in order to make that required return. I am not the type of person to pursue more profits for the sake of profits.
3. My exit strategy will influence my business plan. For however long it takes me to grow my business, that is how long I will tend and nurture it. I wish to grow that business to the point where I can sell it to someone trustworthy, and live off the return as a retirement.
2. I have selected this strategy because given a large enough return, I can safely invest that money into an annuity type account and live off the returns for the rest of my life. Obviously that would require a hefty down payment, but if I can make it happen, then I will be a happy man. I am willing to put in the time required to grow my business in order to make that required return. I am not the type of person to pursue more profits for the sake of profits.
3. My exit strategy will influence my business plan. For however long it takes me to grow my business, that is how long I will tend and nurture it. I wish to grow that business to the point where I can sell it to someone trustworthy, and live off the return as a retirement.
Assignment 26
1. This semester has been much different from past semesters. I am an online UF student, coming from Santa Fe where I took in class courses. This semester I took 16 credit hours instead of 12. One thing that I have failed, countless times this semester, is keeping a normal sleep/wake cycle. Because I am online, I do not need to attend a class at a set time, which means I normally don't fall asleep until much later. This in turn makes me wake up much later, and that throws my balance off. I have tried to get to sleep early, but eventually I just wake up late again even if I got more then enough sleep.
2. What I have learned is that in order for me to fix my sleep schedule, I must commit to some activity early enough in the morning. If I have a reason to be awake, I am much more inclined to be active much earlier.
3. I believe failure is a good thing in general. If you NEVER fail, are you truly learning anything? As someone who played varsity sports in high school, I understand that failure is something you should learn from, but try your best to avoid. I handle failure in what I think is a healthy manner. I try to assess how I failed, what caused that failure, and how I can better myself from that failure. Failure does not hurt me emotionally. I am more likely to take risks if I know that there is something to learn from it. This class has taught me that in order to succeed, you must first fail, even if it is 1000 times. I believe there is a certain skill in evaluating what sort of actions are worth the risk of failure, and what aren't.
2. What I have learned is that in order for me to fix my sleep schedule, I must commit to some activity early enough in the morning. If I have a reason to be awake, I am much more inclined to be active much earlier.
3. I believe failure is a good thing in general. If you NEVER fail, are you truly learning anything? As someone who played varsity sports in high school, I understand that failure is something you should learn from, but try your best to avoid. I handle failure in what I think is a healthy manner. I try to assess how I failed, what caused that failure, and how I can better myself from that failure. Failure does not hurt me emotionally. I am more likely to take risks if I know that there is something to learn from it. This class has taught me that in order to succeed, you must first fail, even if it is 1000 times. I believe there is a certain skill in evaluating what sort of actions are worth the risk of failure, and what aren't.
Friday, November 16, 2018
Assignment 24
Opportunity
My opportunity revolves around the unmet need of people with cars that they want to fix themselves. This can also apply to people who frequently change parts out of there car like exhaust, body panels, wheels, etc. The difference between, say, someone with a full garage and a set of tools, and my customers, is the fact that my customers won’t have that full garage and that set of tools. The group of customers that would meet this need are car owners with experience or desire to work on it themselves, yet they would most likely be college students or recently graduated. This means that they wouldn’t be able to make the investment on the tools and workspace to fix a car themselves. This is where my business comes in. I provide access to tools and lifts to these people at a rate that is substantially lower than the standard shop rate. It saves the customer money in the long run, and they can learn how to maintain their car at a cheaper rate over time. Forces that create this opportunity might be the increasing complexity of newer cars. With newer cars being less likely for home repair, graduates and car enthusiasts are more likely to buy older, slightly used cars that still hold value and are easily fixable by someone with the right knowledge. My market would start out in the local Gainesville area only. This area has the highest potential market because it contains graduates and students alike. My customer base most likely fixes their own cars my themselves at their home or brings it to a shop that will charge them a labor fee. They would be willing to try my business to see how cost effective it is for them. I believe my window of opportunity is big enough to cover the cost of the business, but not big enough to see huge growth in a short time. It is possible that the window of opportunity will only be open for a few more years, as electric cars are on the rise. I personally believe we are a long way from eliminating older, more fixable cars from the market.
Innovation
My business is relatively simple and cheap to run. It In involves having the necessary capital to purchase or rent a location, buy or rent the lifts themselves, and stock the location with tools and other amenities. For example, if I rented a location with enough space for 2 post style lifts and a wing for bathroom, sink, office, then that cost would only be ($5000 x 2) + (rent/building costs). Since the lifts and building costs are one-time capital expenditures, we can discount that from our variable and fixed costs. So, to make money, we must rent out the lifts to people at a rate that can cover the rent/electric/water costs each month and any other small overhead costs that arise. Standard shop rates globally are around $100 an hour. As a start, I will charge anything under that and calculate how many customers/day I would need to break even. As for how the business functions from a customer perspective, it would start by either calling or driving to the location and scheduling an appointment. If there are open bays on that day, then it is first come first serve. I would probably set up a camera on a website that customers can access to quickly see how many lifts are in use at any point in time. Plus, an accessible calendar. Since this type of business requires little labor as the customers work on their car themselves, I will be the one who stays on location and oversees the operation. Customers can rent a lift on an hourly, daily, or monthly basis, with discounts at each level. If a customer wants to use bay 2 for a weekend, then he/she would pay for the 2 days. Picture renting a storage unit, but that unit can lift your car up.
Venture Concept
Customers that cannot afford to take their car to a shop, don’t have the tools to do it themselves, or want to learn how to maintain their car will utilize my opportunity. Because my rates will be lower than shop charges, my store will be stocked with tools, and I can provide expert help to any customers free of cost, my business will be perfect for the customer type stated above. I believe that car enthusiast will flock to my business in order to see how they can make it work for them. Others, however, will not be so quick to jump on the boat. People that have normally taken their car to the shop won’t think otherwise. This will be the hardest market to penetrate, which is why I am content with a small business at the start. Competitors are any automotive shop that charges for labor. What my business can provide over other shops is a friendly, safe, learning environment. People will want to come to my location, even if their car works fine, just for the opportunity to meet others like them. It will be a location where car people can gather, work on their rides, and enjoy themselves. The customer experience is a key factor to my business concept, which is why I would want to oversee the early operation of the business. Like I’ve said before, employees are almost not needed. If I can be on location, then that is all there needs to be. For future growth, I would need at least 1-2 people on hand to help customers with any technical difficulties, while also being a knowledgeable helper for them.
3 Elements
1. My secret sauce is myself. Anyone can create my business but only I will be able to provide the knowledge and friendliness that will keep my customers coming back.
2. The next step for my business would be expanding to a larger building with more lifts for a higher at once capacity.
3. I want to be working from home, managing the location remotely with only a few employees on my payroll. Assuming that I am still Gainesville located, this is where I want to be in 5 years.
Assignment 23
1. The function of the car lifts themselves
2. The stock of tools on location
3. My affiliation with multiple automotive parts companies
4. My experience and knowledge of automobiles
5. My open and friendly attitude towards customers
6. My affiliation with the Gainesville car scene and its connections
7. A location for car enthusiasts and learners to conglomerate and have fun
8. Special amenities for customers while they work on their car
(bathroom, phone charging, computer access)
9. Easy scheduling
10. Cost effectiveness
V: It is valuable for people in the car scene to meet with new people and enjoy themselves, save money working on their car, and have expert opinions around.
R: Not many companies have this unique combination of attributes. Other places have some or most of these at any given point, but not all 10.
I: This is an imitable business model in the sense of the physical attributes. What I bring that is different is my expert knowledge and friendly attitude.
N: No other place in Gainesville allows you to use a lift on your own without the labor costs associated with the company.
I believe my top resource is my person. (#3-6) The physical attributes are easily imitable, but I will bring a level of understanding of my customers and the business that no one else in this industry brings.
2. The stock of tools on location
3. My affiliation with multiple automotive parts companies
4. My experience and knowledge of automobiles
5. My open and friendly attitude towards customers
6. My affiliation with the Gainesville car scene and its connections
7. A location for car enthusiasts and learners to conglomerate and have fun
8. Special amenities for customers while they work on their car
(bathroom, phone charging, computer access)
9. Easy scheduling
10. Cost effectiveness
V: It is valuable for people in the car scene to meet with new people and enjoy themselves, save money working on their car, and have expert opinions around.
R: Not many companies have this unique combination of attributes. Other places have some or most of these at any given point, but not all 10.
I: This is an imitable business model in the sense of the physical attributes. What I bring that is different is my expert knowledge and friendly attitude.
N: No other place in Gainesville allows you to use a lift on your own without the labor costs associated with the company.
I believe my top resource is my person. (#3-6) The physical attributes are easily imitable, but I will bring a level of understanding of my customers and the business that no one else in this industry brings.
Assignment 25
Existing Market
1. I believe what is next for my venture would be local expansion. What I mean is a larger building, in a better location, with increased advertising.
2. The people I talked to mostly seemed worried about keeping my business secure. How to manage customers, tools, and access to amenities. The general consensus is that the business can work, but would need hard supervision.
3. Before setting my business off, I would need to devise a way to keep my capital secure. I can imagine that I would need a camera system with a server to hold the last week or so worth of footage. I would also would need to hire a man to work this system, or maintain it in the event it breaks. I also would need a way to secure the property. With people's cars in my hands, It is my responsibility to insure that their cars are safe. Something I have seen at Gun Ranges are videos that people must watch before participating. For safety, there will always be a safety video on operating tools and lifts for the customers to view. For first time people, this will be mandatory.
New Market
1. A new market I would want to penetrate would be the market of people that dont work on their car themselves, but instead go to the dealer/shops.
2. A concept for this market could be something like ride share, but for working on cars. Customers that would normally take their car to a shop can have the ability to contact other customers at my business and negotiate prices for the work to be done at my business. The key here is that the prices are negotiable and can be done for free or for a premium depending on the work. What sets this apart from a real shop, is that you aren't stuck with that shops price. You can find someone that will change your brakes for $100 cheaper than the shop, at my location with a discounted rate. There is also the chance that my business will have a stock of old parts that you can use for cheap instead of a shop charging you to ship a new part.
3. The main concern from the people I talked to is the quality of the work being done. How do you know if the person you hired will do a good job? I believe this is a VERY valid concern and I believe it is one that is hard to solve. If my company was bigger, I could possible allocate resources to creating a social media place that customers can chat and discuss work to be done. Others can give reviews of their work and people can develop a portfolio that potential (out of market) customers can view.
4. This market will be very hard to penetrate. I believe that many people will be hesitant to try my business given the pretenses above. My expectations were that people would be weary of working on their own car/others working on it at my business. These expectations are correct. I was also expecting to hear things relating to securing my business. Keeping things from being stolen or abused. The new market would be very costly to incorporate, and would require extensive marketing analysis and customer research. It would not be impossible to reach, but would require much more work to utilize than my current market.
1. I believe what is next for my venture would be local expansion. What I mean is a larger building, in a better location, with increased advertising.
2. The people I talked to mostly seemed worried about keeping my business secure. How to manage customers, tools, and access to amenities. The general consensus is that the business can work, but would need hard supervision.
3. Before setting my business off, I would need to devise a way to keep my capital secure. I can imagine that I would need a camera system with a server to hold the last week or so worth of footage. I would also would need to hire a man to work this system, or maintain it in the event it breaks. I also would need a way to secure the property. With people's cars in my hands, It is my responsibility to insure that their cars are safe. Something I have seen at Gun Ranges are videos that people must watch before participating. For safety, there will always be a safety video on operating tools and lifts for the customers to view. For first time people, this will be mandatory.
New Market
1. A new market I would want to penetrate would be the market of people that dont work on their car themselves, but instead go to the dealer/shops.
2. A concept for this market could be something like ride share, but for working on cars. Customers that would normally take their car to a shop can have the ability to contact other customers at my business and negotiate prices for the work to be done at my business. The key here is that the prices are negotiable and can be done for free or for a premium depending on the work. What sets this apart from a real shop, is that you aren't stuck with that shops price. You can find someone that will change your brakes for $100 cheaper than the shop, at my location with a discounted rate. There is also the chance that my business will have a stock of old parts that you can use for cheap instead of a shop charging you to ship a new part.
3. The main concern from the people I talked to is the quality of the work being done. How do you know if the person you hired will do a good job? I believe this is a VERY valid concern and I believe it is one that is hard to solve. If my company was bigger, I could possible allocate resources to creating a social media place that customers can chat and discuss work to be done. Others can give reviews of their work and people can develop a portfolio that potential (out of market) customers can view.
4. This market will be very hard to penetrate. I believe that many people will be hesitant to try my business given the pretenses above. My expectations were that people would be weary of working on their own car/others working on it at my business. These expectations are correct. I was also expecting to hear things relating to securing my business. Keeping things from being stolen or abused. The new market would be very costly to incorporate, and would require extensive marketing analysis and customer research. It would not be impossible to reach, but would require much more work to utilize than my current market.
Friday, November 9, 2018
Assignment 22
Here it is! https://youtu.be/8BThd8vr95w
Very similar to my last pitch, I feel I got the information down. I did not get any feedback this time either :( but I did make an adjustment. I did add a bit on how we will determine price, as I cannot simply create a price to work in this scenario. Enjoy!
Very similar to my last pitch, I feel I got the information down. I did not get any feedback this time either :( but I did make an adjustment. I did add a bit on how we will determine price, as I cannot simply create a price to work in this scenario. Enjoy!
Assignment 21
The book I read was Cognitive Surplus, by Clay Shirky.
1. This book was originally written as a sequel to a first book titled, Here Comes Everybody, which discussed the impact of social media. The general theme of Cognitive Surplus talks about how people's interaction with technology can impact the world and society. People are learning to use free time more constructively by interacting with social media and technology. Creative acts as opposed to consumptive ones.
2. One of the topics in the book are the different forms that "Cognitive Surplus" takes place (personal, communal, public, and civic). Shirky discusses that the civic value of interactions are the most powerful because they can actually change society. The ability for social media to impact society is what Shirky argues should be celebrated by the internet. I believe that this connects well with ENT3003 recently because we have discussed the importance of connecting with different people to grow your social capital.
3. I would have students give a report on how social media is used in one of the 4 forms discussed in the book: personal, communal, public, and civic. Use social media to gain information and describe how that fits into one of the for forms of cognitive surplus.
4. Each of the 4 forms of cognitive surplus are described as almost an increasing level of importance. Personal value deals with a singular motive on a whim. Communal value means sharing ideas that benefit a small group. Public value benefits a larger set of people outside of the original group. And last, Civic deals with values that serve to better society as a whole. When Shirky said that Civic was the most important, this is what connected with me. It is the most important because it helps the biggest group of people.
1. This book was originally written as a sequel to a first book titled, Here Comes Everybody, which discussed the impact of social media. The general theme of Cognitive Surplus talks about how people's interaction with technology can impact the world and society. People are learning to use free time more constructively by interacting with social media and technology. Creative acts as opposed to consumptive ones.
2. One of the topics in the book are the different forms that "Cognitive Surplus" takes place (personal, communal, public, and civic). Shirky discusses that the civic value of interactions are the most powerful because they can actually change society. The ability for social media to impact society is what Shirky argues should be celebrated by the internet. I believe that this connects well with ENT3003 recently because we have discussed the importance of connecting with different people to grow your social capital.
3. I would have students give a report on how social media is used in one of the 4 forms discussed in the book: personal, communal, public, and civic. Use social media to gain information and describe how that fits into one of the for forms of cognitive surplus.
4. Each of the 4 forms of cognitive surplus are described as almost an increasing level of importance. Personal value deals with a singular motive on a whim. Communal value means sharing ideas that benefit a small group. Public value benefits a larger set of people outside of the original group. And last, Civic deals with values that serve to better society as a whole. When Shirky said that Civic was the most important, this is what connected with me. It is the most important because it helps the biggest group of people.
Friday, November 2, 2018
Assignment 20
1. Domain Expert: The person I chose for this is a worker at Tires Plus on 34th and Uni. He is someone who is an expert in working on cars and provides useful feedback to their customers. I found this person by personally taking my car to this shop and talking with the employee. The exchange we have is that he saves me time and money by telling me what is wrong and the actions that need to be taken. He works on my car and guides other workers through the process. What I do in return is I recommend anyone I can to his shop. Anyone that asks me where is a good place to get their car worked on, this place is my answer. If I ever need any advise on the auto shop business, he can provide me with the information I need.
2. Market Expert: This person is a mobile auto repair business owner who works out of his truck. I believe he in an expert because he can provide the same general business to my market, but he is mobile and does not require a standing location. I found this person when my girlfriend needed her car fixed while not being registered. He drove out to help us, and we exchanged information with each other with the idea of helping each other. Again, I recommend him to someone who cant move their car, and wants a good price. Again, I believe this person can provide me with information on my market, and I can ask him things related to customer base. Who would be my main customer base in Gainesville? How many clients does this person see a day?
3. Supply Expert: For this one I chose to use the company Z1 motorsports. They are a supplier of Nissan specialty parts worldwide. I have bought many parts from them and it is how I found them. The exchange I have with this company is a bit vague. Mostly phone calls and asking for information. The favors that they do for me are mostly related to information. If I have any questions about their products, their customer service is great. With this person in my network, I can provide my customers with a place to get good priced, good quality parts for their Nissan. I believe this works in this scenario as Gainesville is full of Nissan cars. The Gainesville Nissan is one of the most highly rated Nissan dealerships in Florida.
This experience has been somewhat similar to actions in the past. If someone provides me with quality service, I am apt to suggest their service to another. I believe that word of mouth and personal connections are how a business can grow quickly from the ground up. Only after you gain a local customer base can you start to worry about statewide/nationwide services.
2. Market Expert: This person is a mobile auto repair business owner who works out of his truck. I believe he in an expert because he can provide the same general business to my market, but he is mobile and does not require a standing location. I found this person when my girlfriend needed her car fixed while not being registered. He drove out to help us, and we exchanged information with each other with the idea of helping each other. Again, I recommend him to someone who cant move their car, and wants a good price. Again, I believe this person can provide me with information on my market, and I can ask him things related to customer base. Who would be my main customer base in Gainesville? How many clients does this person see a day?
3. Supply Expert: For this one I chose to use the company Z1 motorsports. They are a supplier of Nissan specialty parts worldwide. I have bought many parts from them and it is how I found them. The exchange I have with this company is a bit vague. Mostly phone calls and asking for information. The favors that they do for me are mostly related to information. If I have any questions about their products, their customer service is great. With this person in my network, I can provide my customers with a place to get good priced, good quality parts for their Nissan. I believe this works in this scenario as Gainesville is full of Nissan cars. The Gainesville Nissan is one of the most highly rated Nissan dealerships in Florida.
This experience has been somewhat similar to actions in the past. If someone provides me with quality service, I am apt to suggest their service to another. I believe that word of mouth and personal connections are how a business can grow quickly from the ground up. Only after you gain a local customer base can you start to worry about statewide/nationwide services.
Assignment 19
1. I am a junior student at the University of Florida Warrington School of Business. Topics I take special interest in are natural sciences like Geography and Astronomy. I have experience working on different types of cars. I have experience working with computers. I have worked on my own cars, and I have built my own computers. My skills include being able to thoroughly diagnose problems and trouble shoot issues based on my knowledge of these two skills. My aspirations are to work for myself in the future, by owning my own business or being a partner in a business. This business works perfectly for me as I can work with cars, and also provide useful information to my customers as a service.
2. I am offering a place for car owners to come and rent out the use of a lift to work on their cars. They do not have to pay labor costs as they do the work themselves. Most tools will be provided to them so it can be a simple in and out event for most people. Specifically, a car enthusiast unmet need to do work on their car that requires a lift would be met. This is no different from my first idea napkin, however I would like to add a service to my business mode. My added service would be provided by me personally, and would include my helping my clients with any trouble shooting and problem solving that they might need. This is because in my feedback, I was told that many people who don't work on cars would be turned off by my business. With this added service, I can help people who don't know how to solve their problem. This will hopefully draw in more people who would otherwise just take their car to another shop.
3. My biggest market will be enthusiasts that work on their own cars. The probably won't have just one car, and hopefully I can make most of my business off of these individuals who need to keep their car at my shop for extended periods of time. With my added service, however, I hope to attract a smaller, more niche group of people. This group would be people who don't normally work on their own cars, but are willing to learn and save money with my business's help. My customers all need to have their cars fixed.
4. My business will save them money. It might not save them as much time as another shop, but the value of learning and working is more valuable to some than others. My customers will value their time working more than someone who will take their car to a normal shop.
5. I have the ability to prove useful and understandable feedback to my customers on a per scenario basis. I can provide useful trouble shooting tips and help them solve their problems. My customers won't be in the dark spending their time at my business.
6. I believe my elements fit together nicely. I believe the disconnect happens when customers who dont work on cars come to my business. How much of their time is worth working vs not working on their car? How much less/more are they willing to spend in order to have it done completely for them? This is something that would require more research to understand.
What I took away from my feedback is that my customers will already have to now how to work on their own cars to use my business. I have updated what I provide to include help to these individuals who do not know how to work on their own car.
2. I am offering a place for car owners to come and rent out the use of a lift to work on their cars. They do not have to pay labor costs as they do the work themselves. Most tools will be provided to them so it can be a simple in and out event for most people. Specifically, a car enthusiast unmet need to do work on their car that requires a lift would be met. This is no different from my first idea napkin, however I would like to add a service to my business mode. My added service would be provided by me personally, and would include my helping my clients with any trouble shooting and problem solving that they might need. This is because in my feedback, I was told that many people who don't work on cars would be turned off by my business. With this added service, I can help people who don't know how to solve their problem. This will hopefully draw in more people who would otherwise just take their car to another shop.
3. My biggest market will be enthusiasts that work on their own cars. The probably won't have just one car, and hopefully I can make most of my business off of these individuals who need to keep their car at my shop for extended periods of time. With my added service, however, I hope to attract a smaller, more niche group of people. This group would be people who don't normally work on their own cars, but are willing to learn and save money with my business's help. My customers all need to have their cars fixed.
4. My business will save them money. It might not save them as much time as another shop, but the value of learning and working is more valuable to some than others. My customers will value their time working more than someone who will take their car to a normal shop.
5. I have the ability to prove useful and understandable feedback to my customers on a per scenario basis. I can provide useful trouble shooting tips and help them solve their problems. My customers won't be in the dark spending their time at my business.
6. I believe my elements fit together nicely. I believe the disconnect happens when customers who dont work on cars come to my business. How much of their time is worth working vs not working on their car? How much less/more are they willing to spend in order to have it done completely for them? This is something that would require more research to understand.
What I took away from my feedback is that my customers will already have to now how to work on their own cars to use my business. I have updated what I provide to include help to these individuals who do not know how to work on their own car.
Friday, October 26, 2018
Assignment 17
Reflection: This time I did not introduce myself. I also tried to be more composed and concise with my words. This video is about the same length as the first pitch, and I feel that is something interesting. I actually didn't get any comments on my first pitch so there isn't anything I can really reflect on from that perspective. Overall I feel I am getting the hang of the pitches, this one took me a lot less time to do.
Thursday, October 25, 2018
Assignment 18
My prototypical customer would be a car owner who enjoys working with their car/ other cars. My customers can be male or female, but given the nature of car enthusiasts, most would be male. Average age would be early 20s to 40s. My customers would be the type to always look for ways to improve their car, tinkering with different aspects to make it their own. I believe that all walks of life are part of the car community. However, on average, most car enthusiasts are single men that make enough money to support themselves and their hobbies. Common phrases spoken by my customer would be "my car is the only girl I need". Some customers will have girlfriends. Most won't have children, some will. Their hobbies would be mainly focused on their car. They would watch mainly action shows and play video games in their spare time. My customers wouldn't read books often. Politics isn't important to my customers. Many of my customers would be going through a mid-life crisis where they buy a sports car and try to feel young again. These would be the customers around the age of 40.
I am very similar to this prototypical customer because I own a sports car and I do work on it often. I play video games and watch action movies. Many of the things described in my avatar are similar to myself. I have a girlfriend that enjoys what I do, and I am on the younger side at 21. I believe this is not a coincidence because I understand what my customers want. I understand what they want because I am a prototypical customer. If I had the opportunity to use my business idea when it was not my own, then I would.
I am very similar to this prototypical customer because I own a sports car and I do work on it often. I play video games and watch action movies. Many of the things described in my avatar are similar to myself. I have a girlfriend that enjoys what I do, and I am on the younger side at 21. I believe this is not a coincidence because I understand what my customers want. I understand what they want because I am a prototypical customer. If I had the opportunity to use my business idea when it was not my own, then I would.
Friday, October 19, 2018
Assignment 15
1. My segment was used car owners, and owners that modify their cars.
2. Through my interviews, I found that it is common for car enthusiasts to work on their own cars. For example, 2 of my interviews were a couple with the same car, both modified. The boyfriend works on semi-trucks as a profession, so his answer to alternatives to my business was to just fix it himself at his house. I asked them what do they do if they cannot fix it and they said they take it to the nearest Nissan dealership (they drive Nissan 350z). It seems that fixing it right matters the most to them in this scenario. If they can't do it right themselves, they will find someone who can. I asked my third interviewee what he does when he needs to take his car in to the shop and he said he finds the place that will charge him the least. So for alternatives, price and quality matter the most.
3. Most people will buy car parts online as that is where the best prices come from. However, sometimes they will buy used parts from other car owners. These are usually discounted heavily because of the wear. Cash is usually whats used. So price is a major factor. How fast the shipping is also another factor.
4. I asked how they usually feel after a purchase and the couple in my interviews said that they are always happy with a purchase. If the purchase puts a smile on their face then they made the right buy. For example if they finally get their car fixed after a long time being broken, they won't be able to stop smiling after they get their car back. If they made a purchase and eventually found a cheaper option, then they wish they would have waited.
5. Interview 1/2: this is the couple that owns the same modded cars. They basically are willing to work on their car themselves until they no longer can fix the problems. Then they take it to a dealership. They judge their purchases on how happy it makes them.
Interview 3: This person mostly tries to buy his parts in stores to save time on shipping. He might not find the best deals but the time waiting is worth it to him. He also will work on his car whenever he can, and send it to a professional when the work gets too advanced. He determines if the purchase was good or not based on weather the part worked well with his car, and if it was the feeling he was looking for.
6. The alternatives for this segment are other professional shops, but only to the extent that they cannot fix the problem themselves. purchase decisions are made based on price and quality, usually being bought online. Post purchase evaluation is mostly based on the happiness that it generates for them at the time of purchase/installation.
2. Through my interviews, I found that it is common for car enthusiasts to work on their own cars. For example, 2 of my interviews were a couple with the same car, both modified. The boyfriend works on semi-trucks as a profession, so his answer to alternatives to my business was to just fix it himself at his house. I asked them what do they do if they cannot fix it and they said they take it to the nearest Nissan dealership (they drive Nissan 350z). It seems that fixing it right matters the most to them in this scenario. If they can't do it right themselves, they will find someone who can. I asked my third interviewee what he does when he needs to take his car in to the shop and he said he finds the place that will charge him the least. So for alternatives, price and quality matter the most.
3. Most people will buy car parts online as that is where the best prices come from. However, sometimes they will buy used parts from other car owners. These are usually discounted heavily because of the wear. Cash is usually whats used. So price is a major factor. How fast the shipping is also another factor.
4. I asked how they usually feel after a purchase and the couple in my interviews said that they are always happy with a purchase. If the purchase puts a smile on their face then they made the right buy. For example if they finally get their car fixed after a long time being broken, they won't be able to stop smiling after they get their car back. If they made a purchase and eventually found a cheaper option, then they wish they would have waited.
5. Interview 1/2: this is the couple that owns the same modded cars. They basically are willing to work on their car themselves until they no longer can fix the problems. Then they take it to a dealership. They judge their purchases on how happy it makes them.
Interview 3: This person mostly tries to buy his parts in stores to save time on shipping. He might not find the best deals but the time waiting is worth it to him. He also will work on his car whenever he can, and send it to a professional when the work gets too advanced. He determines if the purchase was good or not based on weather the part worked well with his car, and if it was the feeling he was looking for.
6. The alternatives for this segment are other professional shops, but only to the extent that they cannot fix the problem themselves. purchase decisions are made based on price and quality, usually being bought online. Post purchase evaluation is mostly based on the happiness that it generates for them at the time of purchase/installation.
Friday, October 12, 2018
Assignment 13
1. I read about Elon Musk in Ashlee Vance's biography. What surprised me the most is how hard Elon's upbringing was. He had to get away from the bad life he had in South Africa and move to Canada to make his start. I admire his worth ethic. He was determined to make it big in America and he made all the sacrifices necessary to accomplish that goal. In Vance's book, she talks about how Ideas influenced his work ethic. But others have said that he worked so hard because he believed his ideas were unassailably correct. I do not admire this kind of thinking as it can be a slippery slope to self satisfaction. Elon encountered the most hardship during his home life in South Africa. His father was abusive and would make Elon and his siblings sit silent for hours while the father lectured them. He over came this adversity by leaving his home life to start anew in Canada.
2. I think Elon displays the ability to sacrifice when he knows its better for him. He had to leave his family to get away from what was holding him back. According to the 21 laws of leadership, Sacrifice is important when leading.
3. I am confused by the later half of the book. It seems that it steers away from a biography and more of an admiration of Musk.
4. Q1: How hard was it to leave your family at such a young age? I want to know how much of a sacrifice it truly was for him.
Q2: What kind of metrics does Elon account for when hiring employees for his companies. It must be hard to impress Elon and I would be interested to know this.
5. I think Musk's opinion of hard work is putting in all the time you believe is necessary to accomplish your goal. Elon worked 100 hour weeks when building a business and was very hard om himself. He never skipped a step and considered all the options.
2. I think Elon displays the ability to sacrifice when he knows its better for him. He had to leave his family to get away from what was holding him back. According to the 21 laws of leadership, Sacrifice is important when leading.
3. I am confused by the later half of the book. It seems that it steers away from a biography and more of an admiration of Musk.
4. Q1: How hard was it to leave your family at such a young age? I want to know how much of a sacrifice it truly was for him.
Q2: What kind of metrics does Elon account for when hiring employees for his companies. It must be hard to impress Elon and I would be interested to know this.
5. I think Musk's opinion of hard work is putting in all the time you believe is necessary to accomplish your goal. Elon worked 100 hour weeks when building a business and was very hard om himself. He never skipped a step and considered all the options.
Assignment 14
1. One thing that I can recommend as an online student is keep up with the lectures. Be sure to look out for any details that might be on a Cupcake. They are easy point quizzes that come straight from the lecture. I think another important behavior is to try and put yourself in the shoes of someone/something you're writing about. It really helps connect the information.
2. As someone taking 16 credits of online, I felt like some of the assignments weren't even worth my time. But after consideration, I felt that the assignments were necessary to keep me engaged and up to date with the information. This class is not meant to challenge you in the same way a statistics class or calculus class does. It makes you think about the real world in a "what if" sort of way. I felt like I have build a tenacious attitude. I have given myself a regimen that I stick to in order to balance all the work I have.
3. My three tips are:
1) Don't give up on any 1 assignment
2) Keep up to date with the lectures. Don't skip class.
3) Put yourself in the shoes of an Entrepreneur. It will help you stay focused on what is important. Don't enter this class as a student. Enter as a business owner!
2. As someone taking 16 credits of online, I felt like some of the assignments weren't even worth my time. But after consideration, I felt that the assignments were necessary to keep me engaged and up to date with the information. This class is not meant to challenge you in the same way a statistics class or calculus class does. It makes you think about the real world in a "what if" sort of way. I felt like I have build a tenacious attitude. I have given myself a regimen that I stick to in order to balance all the work I have.
3. My three tips are:
1) Don't give up on any 1 assignment
2) Keep up to date with the lectures. Don't skip class.
3) Put yourself in the shoes of an Entrepreneur. It will help you stay focused on what is important. Don't enter this class as a student. Enter as a business owner!
Friday, October 5, 2018
Assignment 12
1. I chose to pick used car owners and enthusiasts that have modified their own car.
2. All three of my interviewees own cars that occasionally need work done to keep running, and they also like to add things to their car here and there. They enjoy the car scene and are an active part of it.
3.All three of my interviews responded with the need for a place to do work on their car. One interview said that he works on his car in his hometown, but somewhere closer would be better. Another said that he would use my service just because it wasn't something he had considered. The same person said that if his car had broken down, he would tow it to my business and work on the car himself to get it running. There is a clear need for people in my market.
4. The first thing they google is nearest car shop. Depending on what work they want done, it might be a muffler shop, body shop, mechanic shop etc. The second thing they look for is pricing. Before that, they think "can they do this themselves?" This is something I can relate to as when considering work on the car, I ask myself how easy would it be if I did it myself. Ease of completion and pricing are two big factors in the decision to use my business or not.
5. What I found is that there are two main things people consider when choosing a business similar to my own: ease and price. If they can do the work themselves and it wont take them too much time, then they consider taking it to my business. I assume that if the work is too time consuming then they will just take it to a professional place and leave it at that. Now if ease of completion is not a factor then they will consider price. This is somewhat objective as a shop will charge you but you won't charge yourself. The experience gained from doing the work is worth the time spent.
6. I think my business would be more popular given that it had time to develop. Current automotive shops hold a big part of the market and most people don't second guess those choices. My business would mostly be popular with the car enthusiasts that enjoy the car scene. I can imagine that some people might use my business as a way to meet new members of the car scene and that could potentially grow my business.
2. All three of my interviewees own cars that occasionally need work done to keep running, and they also like to add things to their car here and there. They enjoy the car scene and are an active part of it.
3.All three of my interviews responded with the need for a place to do work on their car. One interview said that he works on his car in his hometown, but somewhere closer would be better. Another said that he would use my service just because it wasn't something he had considered. The same person said that if his car had broken down, he would tow it to my business and work on the car himself to get it running. There is a clear need for people in my market.
4. The first thing they google is nearest car shop. Depending on what work they want done, it might be a muffler shop, body shop, mechanic shop etc. The second thing they look for is pricing. Before that, they think "can they do this themselves?" This is something I can relate to as when considering work on the car, I ask myself how easy would it be if I did it myself. Ease of completion and pricing are two big factors in the decision to use my business or not.
5. What I found is that there are two main things people consider when choosing a business similar to my own: ease and price. If they can do the work themselves and it wont take them too much time, then they consider taking it to my business. I assume that if the work is too time consuming then they will just take it to a professional place and leave it at that. Now if ease of completion is not a factor then they will consider price. This is somewhat objective as a shop will charge you but you won't charge yourself. The experience gained from doing the work is worth the time spent.
6. I think my business would be more popular given that it had time to develop. Current automotive shops hold a big part of the market and most people don't second guess those choices. My business would mostly be popular with the car enthusiasts that enjoy the car scene. I can imagine that some people might use my business as a way to meet new members of the car scene and that could potentially grow my business.
Assignment 11
You: Who am I? This is always difficult for me to talk about myself. My name is Phillip Haley, I am currently getting my BSBA at UF after transferring from Santa Fe. I have experience working on cars as I've personally owned four. I also have experience with computers as I've built two of my own. I've been told that I am a quick learner and that I can understand topics easily (general I know). I enjoy learning about natural sciences like astronomy and geography. I take a special interest in the long term effects of humanity on the planet and our ability to live as a species. My aspirations are to work for myself after graduating. Not directly after, but eventually I want to be my own boss. This business theoretically would be perfect for me as I can work for myself and I also have experience working on cars. If it were to become real, I see it becoming a big part of my life.
Offering: I am offering a place for car owners to come and rent out the use of a lift to work on their cars. They do not have to pay labor costs as they do the work themselves. Most tools will be provided to them so it can be a simple in and out event for most people. Specifically, a car enthusiast unmet need to do work on their car that requires a lift would be met. Most people that mod their cars cannot afford to have their own lift. Rental rates would be lower than the average labor rate in the city so customers can save costs.
Who to: I believe the biggest market I will hit is the car enthusiast that likes to work on their own car. Most likely the car they come to my business with won't be their only car. I feel like my customers will be like me, who enjoy changing out parts on their car to make it their own. Many of my customers will probably be returning customers, and they hopefully recommend it to other car enthusiasts. There aren't many alternatives to this idea in Gainesville specifically, and I can only find a similar business in Miami. My business can also cater to people who want to fix their own cars to save money. This demographic might be lower as most people cannot afford to take the time to work on their car, and would rather pay someone else to do it.
Why: Customers will pay me money because they value the ability to use a lift without owning one. Some car work does not require a lift, so purchasing one would be a big investment for someone who occasionally works on their car. If I am able to provide them with the ability to rent this lift, then they are inclined to consider my offering. They also value not having to take it to a standard shop and pay labor fees since they are able to do the work themselves. This is very important to me specifically as I have stated before that I changed my own compressor saving more than $1000.
Competencies: I think what sets this business apart is that I am a car enthusiast myself. I am offering the ability to use a car lift to other car enthusiasts. I can connect to my customers on a deeper level than most shops. I can provide insight and experience to new customers and I can have meaningful interactions with my returning customers. This business is something I haven't yet seen in Gainesville, and it would be a new business venture. I think that I have a passion for this business that no one else has shown. I also think that this business has the potential to grow as my potential customer base is anyone with a car. I know that is not realistic but the opportunity is still there.
Evaluation: I think my elements fit together in theory. My worry is that my business simply will not see much traffic for a variety of reasons. One being that people can't afford to spend time working on their car. Another is people not having the knowledge to work on their own car. This is why I specifically stated that my customers would be enthusiasts that LIKE to work on their own cars. I think the standard shop business will be a huge competitor and I would have to strive for a competitive advantage over these businesses.
Offering: I am offering a place for car owners to come and rent out the use of a lift to work on their cars. They do not have to pay labor costs as they do the work themselves. Most tools will be provided to them so it can be a simple in and out event for most people. Specifically, a car enthusiast unmet need to do work on their car that requires a lift would be met. Most people that mod their cars cannot afford to have their own lift. Rental rates would be lower than the average labor rate in the city so customers can save costs.
Who to: I believe the biggest market I will hit is the car enthusiast that likes to work on their own car. Most likely the car they come to my business with won't be their only car. I feel like my customers will be like me, who enjoy changing out parts on their car to make it their own. Many of my customers will probably be returning customers, and they hopefully recommend it to other car enthusiasts. There aren't many alternatives to this idea in Gainesville specifically, and I can only find a similar business in Miami. My business can also cater to people who want to fix their own cars to save money. This demographic might be lower as most people cannot afford to take the time to work on their car, and would rather pay someone else to do it.
Why: Customers will pay me money because they value the ability to use a lift without owning one. Some car work does not require a lift, so purchasing one would be a big investment for someone who occasionally works on their car. If I am able to provide them with the ability to rent this lift, then they are inclined to consider my offering. They also value not having to take it to a standard shop and pay labor fees since they are able to do the work themselves. This is very important to me specifically as I have stated before that I changed my own compressor saving more than $1000.
Competencies: I think what sets this business apart is that I am a car enthusiast myself. I am offering the ability to use a car lift to other car enthusiasts. I can connect to my customers on a deeper level than most shops. I can provide insight and experience to new customers and I can have meaningful interactions with my returning customers. This business is something I haven't yet seen in Gainesville, and it would be a new business venture. I think that I have a passion for this business that no one else has shown. I also think that this business has the potential to grow as my potential customer base is anyone with a car. I know that is not realistic but the opportunity is still there.
Evaluation: I think my elements fit together in theory. My worry is that my business simply will not see much traffic for a variety of reasons. One being that people can't afford to spend time working on their car. Another is people not having the knowledge to work on their own car. This is why I specifically stated that my customers would be enthusiasts that LIKE to work on their own cars. I think the standard shop business will be a huge competitor and I would have to strive for a competitive advantage over these businesses.
Friday, September 28, 2018
Assignment 9
Who: I have no doubt that there are certain people that I THINK should need this opportunity, but don't show signs of it. For example, one of my coworkers likes to learn about cars, owns 2 used cars, and does not like the expensive bills that standard shops charge. When asked if he would utilize my opportunity, he said that he probably couldn't see himself working on his own car unless he had the help of someone trustworthy. There are also the group of people that have the money to spend on repairs/upgrades to their cars without the need of doing the work themselves. They share the same need (adding/replacing parts), yet they do not require the work to be done by themselves as they have the extra cash to spend at a shop. I also gathered from my interviews that there are people who share the same needs as many in my opportunity, but simply do not have the capability to work on a car themselves. They want to save money, but don't feel confident that they can complete the task.
What: This opportunity varies from similar needs when discussing labor prices at standard shops. Most people will end up paying the $100 dollar an hour rates that most places charge, not knowing that they can do the work faster themselves by skipping certain steps that shops are inclined to do because of the hourly rate. If the hourly rate of using the lifts is lower than the average shop charge, then the customer walks out with more money. This opportunity also varies from other needs because this service is aimed at people who like to wrench on their own vehicles for various reasons. I personally like to make sure things are as good as they can be, and I know what work has been done. I can imagine that most people just want their car to be up and running so they can get to work. I think the line between my opportunity and your average shop is drawn at how much the user wants to work to save money. I think the time investment is positive as not only do you generally save time, you also have piece of mind.
Why: Why people fix their cars is obvious. They want it to run. That is no different in my opportunity than it is at a regular shop. People outside my boundary get their cars fixed because they need the car, and there is nothing more to it. People inside my boundary fix their cars to save money, have piece of mind for their vehicle, or generally challenge themselves. Again, the line is drawn at how much people value their time spent working versus spent on other things.
Inside Boundary
Who: People who want to save some cash and have piece of mind
What: A place where they can accomplish this task without their own investment in tools
Why: Because shops charge more than some people are willing to spend
Outside Boundary
Who: People who can afford the high shop costs.
What: Not a place for people who don't have time/knowledge to work on the car themselves
Why: Not everyone wants to work on their car, some people are not confident in their work and would rather a professional do it.
What: This opportunity varies from similar needs when discussing labor prices at standard shops. Most people will end up paying the $100 dollar an hour rates that most places charge, not knowing that they can do the work faster themselves by skipping certain steps that shops are inclined to do because of the hourly rate. If the hourly rate of using the lifts is lower than the average shop charge, then the customer walks out with more money. This opportunity also varies from other needs because this service is aimed at people who like to wrench on their own vehicles for various reasons. I personally like to make sure things are as good as they can be, and I know what work has been done. I can imagine that most people just want their car to be up and running so they can get to work. I think the line between my opportunity and your average shop is drawn at how much the user wants to work to save money. I think the time investment is positive as not only do you generally save time, you also have piece of mind.
Why: Why people fix their cars is obvious. They want it to run. That is no different in my opportunity than it is at a regular shop. People outside my boundary get their cars fixed because they need the car, and there is nothing more to it. People inside my boundary fix their cars to save money, have piece of mind for their vehicle, or generally challenge themselves. Again, the line is drawn at how much people value their time spent working versus spent on other things.
Inside Boundary
Who: People who want to save some cash and have piece of mind
What: A place where they can accomplish this task without their own investment in tools
Why: Because shops charge more than some people are willing to spend
Outside Boundary
Who: People who can afford the high shop costs.
What: Not a place for people who don't have time/knowledge to work on the car themselves
Why: Not everyone wants to work on their car, some people are not confident in their work and would rather a professional do it.
Friday, September 21, 2018
Assignment 8
My opportunity involves people who work on their own cars, whether
it be building a race car or fixing a daily. In my experience, and through interviews,
using a lift is easier for someone working on a car. This is the reason most shops
use these lifts. Lifts are expensive, and most people make due with low level
jacks and stands.
My service I wish to provide is rental of these lifts, in a
safe environment, for people who wish to do automotive work on their own
vehicle. It is as simple as that. Have a warehouse big enough for multiple
lifts. Space for cars and simple amenities like bathroom and sitting room. Some
tools will be provided, but you also can bring your own. This shop would
feature a large compressor for air driven power tools. Charge by the hour, day,
or any time period specified by the customer. Few employees are needed. I
personally can over-watch the operation and even provide tips. In terms of size,
starting off at 2-3 total lift bays would be enough as a starter. Depending on
total business that number can change. Location would mostly depend on rental
rates of certain warehouses, but best case would be near other shops or
automotive commercial enterprises.
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