Customer Interviews No. 1

1) Find an opportunity. 

I chose solar power as my opportunity as it was listed as a growth sector in an earlier chapter.

2) Figure out who might have the unmet need.

I went to several houses that looked like they could be equipped with solar panels and spoke to the residents about what they knew about solar.

3) Come up with a list of questions.

I chose to ask questions relating to how much they are currently paying for electricity to see how much these similar houses were paying.  I also asked what they knew about solar and if they ever considered it as an option.

4) Go talk to customers!

This gentleman didn't want his face to appear on camera. (as did many of the people that declined to be interviewed for that reason.)

5) Tell us what you learned about the opportunity. 

We can gather from the sample that there is a market for residential solar panels.  The company that capitalizes on this market will have to ensure that the concerns listed by the residents are addressed before finalizing production.  It seemed many of the people I spoke with were positive about the future prospects of solar power but thought they could not afford it at this time.  Due to Florida not allowing special financing of solar panels, it makes sense that consumers wouldn't know much about the product.

6) Tell us what you learned about interviewing customers.

I learned that many people are willing to do an interview unless they are being recorded on video.  I also learned that marketing will be important for the future of solar sales as many people are not familiar with the product.  A successful company in this field will offer some type of warranty for the roof for the duration of the life of the panels.

Week 4 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I was surprised by the list of idea killers listed after the example of Fedex was given.  I've heard many of the "idea killers" told to me and I am guilty of telling people the same thing.  When the idea of overnight shipping was given and a person responded by saying that if it was profitable, the post office would have done it.  I thought this was interesting as Uber is a new ride share idea that I'm sure received a lot of negative criticism before being implemented.

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

The four types of innovation include, invention, extension, duplication, and synthesis.  I found it hard to think of the differences between extension and synthesis as they both use existing ideas to create a new formulation.  At what point does an extension of a product turn into synthesis of a new product?

3) If you were able to ask two questions to the author, what would you ask? Why? 

I would ask the author to give better examples explaining the differences between extension and synthesis.  I would also ask the author to better explain the potential answers to the appositional relationship exercises that I completed.  After completing the exercises, I wasn't sure if my answers were what the author was looking for or not.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

After reading this chapter I have to wonder if really anyone can be the innovator/entrepreneur that is described by the author or if these traits are reserved for certain personality types.  Being an ENTJ, I often find myself agreeing with most of the statements regarding entrepreneurs, but I know many other personality types that are opposite and don't fit the entrepreneur description because of their personality type.  I agree with the author that anyone can be an entrepreneur and problem-solver with practice, but there are others that are better suited for the task.

Top 5 World Problems

Top 5 Problems (Most serious to least serious)

1. Religious extremism is a serious threat to the globe as extremely ill-minded individuals get their hands on dangerous weapons.  These groups also recruit weak-minded individuals to join them to increase their numbers.

2. Global warming is a serious issue that threatens all of our planet's inhabitants. If steps are not taken to curb carbon emissions, we could deplete our limited resources and pollute our planet to an uninhabitable state.

3. Political and social instability is a factor influencing most of the world to some degree.  This varies from location to location but is a threat as people become discontent with their political or social situation.

4. Each healthcare system in every part of the world has its own problems.  Many people around the world have no access to healthcare due to location or income level.

5. As the entire world's economy becomes interdependent and individuals begin to lose faith in their fiat currency, a cascade event might occur that creates a global economic crisis.

Reasoning:  I chose religious extremism as the most serious threat to humanity because it could potentially destroy the world at a faster rate than the others in my list.  Global warming is a slow process that we might be able to find solutions for.  Political and social instability could provoke civil wars unless global relations become strained in which case a third World War could break out.  The other two would take complex financial policies to fix.

Top 5 Solutions (Most-possible to implement to least-possible to implement)

1.  We can slow the rate by improving wildlife conservation efforts and putting higher restrictions on harmful business practices.

2.  Implement proper birth control education and per child policies if necessary.

3.  Reward environmentally friendly business practices and consumer habits.  Give incentives for people to recycle instead of throwing everything away.

4.  To lessen the impact of the collapse, the government should implement programs to soften the blow to those hardest hit.  The economy is cyclical and will bounce back.

5.  A gradual reduction in carbon dioxide emissions with the introduction of a combination of different alternative energy sources.  Government incentives should be put in place to motivate the transition to sustainable sources of energy.

Reasoning:  I put them in the order that I think the government would have the easiest time creating policies for and fixing.  In Florida, whenever there is an environmental amendment on the ballet to conserve wildlife, it easily passes.  For this reason I think the next generation may be even more prone to pass wildlife conservation initiatives.  The others on the list may receive more resistance as they would potentially cost more money to implement.

Identifying Local Opportunities

Five Opportunities

1) Title: Florida gunman distracted by no-firing gun scared off by armed victim who took own shot
Link: Click here
Description of story: A man demanded that another man be quiet and go inside a house.  The man did not comply and the assailant attempted to shoot him. His gun malfunctioned and the victim pulled out his own gun and fired a warning shot that scared the attacker away.
Description of problem: The attacker had a malfunctioning weapon.
Who has the problem: The attacker.

2) Title: 15-year-old girl accused of bomb threats at Keys schools
Link: Click here
Description of story: A 15-year old girl and a male were accused on several charges of bomb threats directed at two different high schools. Thankfully, they were both false alarms and no bombs were at the schools.
Description of problem: The two people responsible are going to face criminal charges.
Who has the problem: The 15-year old girl and a male accomplice.

3) Title: Weather alert: 40s in South Florida, with a warming trend this week
Link: Click here
Description of story: A snowstorm is hitting the east coast and affecting many people.
Description of problem: Cold weather is causing more than 20 flight cancellations at Miami International Airport.
Who has the problem: Miami International Airport

4) Title: Andrés Oppenheimer: The future of our jobs
Link: Click here
Description of story: The World Economic Forum had a meeting and made a forecast that robots will destroy more than five million jobs over the next five years.
Description of problem: Many people are going to lose their job to automation.
Who has the problem: Although automation will affect many different industries, the article states it will have the highest impact on sales people, cashiers, administrative clerks, assembly line workers and taxi drivers.

5) Title: BankUnited reports 2015 earnings results
Link: Click here
Description of story: BankUnited reported their income results for the year and decided that retail residential mortgages were hurting their bottom line.
Description of problem: The retail residential mortgage business requires a lot of scale and is not suited for BankUnited's strategic mission.  They have decided to exit the business.
Who has the problem: BankUnited's retail residential mortgage business.

Week 3 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

I really enjoyed reading "Entrepreneurial Fear 101" in chapter 2.  In this passage it talks about Wilson Harrell, an entrepreneur in Jacksonville, Florida. I particularly liked this because I am currently living there also.  The passage described how Wilson had to deal with the fear of losing his entire business.  Entrepreneurial fear is a fear of never succeeding and fading into oblivion having never to have left your mark.  He ended up succeeding and making a deal with his biggest client to remain partners.

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

The figures used to explain flow chart information in chapter 2 were quite confusing.  I tried to follow them but couldn't apply any real world situations to what they were describing.

3) If you were able to ask two questions to the author, what would you ask? Why?

I would ask the author if he thought a specific Myers and Briggs personality type was specific to entrepreneurs.  I would ask this because I am an ENTJ and I possess many of the qualities of an entrepreneur.

I would also ask the author if he thinks there is a correlation between the failure rates of businesses and the owner's personality type.  I would ask this because I would be interested in seeing the different percentages.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I disagree with the author when he said that entrepreneurs needed to empathize with their clients, I believe entrepreneurs can suffice with sympathizing.

Very Short Interview No. 1

For my short interview, I interviewed John King, owner of Beach Blvd Automotive.  Mr. King opened Beach Blvd Automotive in 1967 after receiving financing from his brothers.  He passed on the business to his son, John King Jr, who continues running the business today.  He qualifies as an entrepreneur as he started his business believing he could provide better service to the community than the competition.

Q1)  How old were you when you started your business, and how long has the business been operating?

A1)  I opened the business when I was 21 years old.  Over the 49 years of service, I've turned it from just a couple of guys working on used cars into the largest used car dealership in Jacksonville.

Q2)  Is there anything you wish you had been told before you started your business?

A2)  Keep family out.  I don't mean that like it sounds, my business is family owned and operated and I am very proud of that.  But when I wanted to open up shop, I didn't have enough money for the land so my brothers invested in me but it ended up causing a lot trouble between us.

Q3)  What advice would you give someone looking to start their own business?

A3)  Learn everything you possibly can about the product you want to sell, and figure out how financing works.  You need to be able to buy the components for the product you are trying to sell, and if you can't figure out the financing, you may find yourself losing money even after you sell your product.

I initially didn't think that a used car dealer qualified as an entrepreneur according to this class, but after speaking to him about the innovative techniques he used to stay in business, I definitely consider him an entrepreneur.  It surprised me that he immediately said to keep family out of business but I can understand how money comes between friends and families.  I enjoyed interviewing Mr. King and look forward to asking him some new questions in the future.

World's Biggest Problems

1. Religious extremism is a serious threat to the globe as extremely ill-minded individuals get their hands on dangerous weapons.  These groups also recruit weak-minded individuals to join them to increase their numbers.
The most practical implementable solution would be to reinforce the importance of education worldwide.  This should decrease the amount of people susceptible to these extreme actions.

2. The exponentially rising population is a concern to our limited resources and waste management capabilities.
Implement proper birth control education and per child policies if necessary.

3. Each healthcare system in every part of the world has its own problems.  Many people around the world have no access to healthcare due to location or income level.
A solution could be to combine the best parts of the universal and private healthcare systems to create a system better for everyone.

4. Global warming is a serious issue that threatens all of our planet's inhabitants. If steps are not taken to curb carbon emissions, we could deplete our limited resources and pollute our planet to an uninhabitable state.
A gradual reduction in carbon dioxide emissions with the introduction of a combination of different alternative energy sources.  Government incentives should be put in place to motivate the transition to sustainable sources of energy.

5. As the entire world's economy becomes interdependent and individuals begin to lose faith in their fiat currency, a cascade event might occur that creates a global economic crisis.
To lessen the impact of the collapse, the government should implement programs to soften the blow to those hardest hit.  The economy is cyclical and will bounce back.

6. As humans consume more and more of earth's resources, species are becoming extinct at an alarming rate.  Habitat destruction can destroy species that we are not even aware of yet.
We can slow the rate by improving wildlife conservation efforts and putting higher restrictions on harmful business practices.

7. Despite our planet being three-fourths water, less than one percent of that water is potable.  This means people still drink water that makes them sick or die from dehydration.
The most likely solution will come from a scientific think tank on the issue to come up with sustainable desalination technology.

8. Our planet is our home but also our waste basket, and pollution is a serious problem. Potentially harmful chemicals can leak into the ground and destroy surrounding environments.  Not only is putting all of the trash underground dangerous but it is also wasteful of the materials that could have been recycled.
Reward environmentally friendly business practices and consumer habits.  Give incentives for people to recycle instead of throwing everything away.

9. As robots begin to replace most of the low level workforce, poverty is going to become a serious issue for the newly unemployed.  This problem is escalated by a limited food supply and growing population.
A restructured government assistance program that does more than hand out money should be put into place.  Safe sustainable farming practices should be incorporated and research should be done on safely genetically modifying crops for higher productivity.

10. Political and social instability is a factor influencing most of the world to some degree.  This varies from location to location but is a threat as people become discontent with their political or social situation.
Re-instill trust in the government with social programs aimed at easing areas of instability such as income inequality and healthcare reform.

Bug List

1.  My computer at work is so old that both the customer and I have to wait nearly twenty seconds for it to finish searching for their profile.
-This bug exists because businesses save money by using the same computers every year instead of upgrading them.

2.  After purchasing an inexpensive garlic mincer from Walmart, it broke after one use.
-This bug exists because there is a consumer segment that does not want to spend nine dollars on a garlic mincer but still wants minced garlic.

3.  When you call a customer service number and you get a robot.
-This bug exists because companies save money by trying to get robots instead of humans to answer common questions.

4.  When you call a customer support line but the person cannot understand you because they barely speak English.
-This bug exists because companies save money by outsourcing call centers.

5.  When you sign up for a Walmart family plan thinking you will be paying the advertised price but they charge something much more.
-This bug exists because Walmart doesn't advertise with taxes calculated into the price. (The T-mobile plan I had prior did.)

6.  When the new security chip reader on credit cards takes longer than a minute to process.
-This bug exists because I assume upgrades should make things faster.

7.  My car needing a new timing belt after 60,000 miles, while the next generation of my car having a timing chain that only needs to be replaced every 90,000 miles.
-This bug exists because technology is improving and I bought my car a year too soon.
 
8.  My hot water heater taking 45 minutes to heat up yet the hot water only lasting 15 minutes while in the shower.
-This bug exists because I live in a single bedroom apartment with a small old water heater.

9.  The air conditioning in my apartment blows out air that is barely cooler than the air already in the apartment.
-This bug exists because I have a forty year old air conditioner.

10.  When you look at your bank statement only to find out that the bank has charged some random fee hoping that you don't ever notice.
-This bug exists because some banks are bad at investing and need to make money by charging fees and hoping the customer doesn't complain so they have to give it back.

11.  When you use a band-aid that ends up ripping off the surrounding skin where the original wound was.
-This bug exists because someone complained that their band-aid fell off too often, so they started using super glue instead of the regular adhesive.

12.  Those lighters that are incredibly inexpensive and usually clear but don't last nearly as long as a Bic.
-This bug exists because Bic is known for having a long lasting lighter and the generic competition can charge less because their product is inferior.

13.  Having to get an oil change every 3,000-5,000 miles.
-This bug exists because of the nature of oil to go bad after prolonged driving.

14.  My girlfriend's iPhone battery dying at 20% and turning back on saying it has 55% but only really has 10%.
-This bug exists because a lot of iPhone batteries were defective.

15.  My bike seat cushion hurting me after biking for too long.
-This bug exists because it is a road bike with a slim seat.

16.  When I pull my white T-shirts out of the laundry and they have little tiny holes in them.
-This bug is because of the detergent that I use destroying my laundry.

17.  I dislike the fact that casinos now use player's cards instead of cash because now I can't see all the coins fall from the machine when I win.
-This bug exists as a way to better control the flow of money in casinos and to monitor their players.

18. The fact that my car was brand new in 2011 and still didn't come equipped with cruise control.
-This bug exists because I bought a very inexpensive car with very few luxuries because vehicles only depreciate in value.

19.  When I get out of the shower to turn off the alarm on my phone but the touch screen doesn't work because my fingers are still slightly wet.
-This bug exists because touch screens don't work if your hands are wet.

20.  My brand new shoes make this very annoying squeaking noise every time a take a step,
-This bug hopefully exists because they are brand new shoes and not because they are made from a material that squeaks when it rubs against itself.

This list was difficult at the start as I am not used to thinking about products or services that annoy me.  It started getting easier as I started recalling more things that annoyed me and I started getting more annoyed.

Week 2 Reading Reflection

Kuratko Chapter 1

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

I was surprised to read how many different entrepreneurship schools of thought there are.  There has been a lot of research on the topic of entrepreneurship management that I was not aware of.

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

The term, "entrepreneur" can mean so many different things to many different people.  It seems like it would be hard to disagree with someone else's definition of "entrepreneur."

3) If you were able to ask two questions to the author, what would you ask? Why?

I noticed that solar energy products was on the list of emerging entrepreneurial opportunities.  I would ask the author their opinion on solar energy as an alternative.  I would also ask how long they think the green trend will continue or will it be until Earth is self-sustaining?  I would ask these questions because I am interested in solar energy products myself. 

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I did not think the author was wrong about anything, and did not disagree with them.

My Entrepreneurship Story

I have been exposed to entrepreneurship from an early age starting with my grandfather, Stanley.  He lived until he was 86 and was an inspiration to many people, including myself.  My grandpa was not a serial entrepreneur but he did start his own business after getting out of the Navy.  What I admired most about him was his ability to combine mechanical parts and create or fix any device that someone needed.  Below is a picture of him riding bumper cars, which was very similar to his normal driving habits.

I am taking ENT 3003 because I admire entrepreneurs and would like to improve on my entrepreneurial skill set in order to open my own business one day.

Introduction

My name is Robert Rogers and I have lived in Florida my entire life.  I will be graduating with my bachelor's degree in Business Administration this semester.  I originally started at UF in the chemical engineering program but switched to business after speaking with many chemical engineers. I have some career ideas but I am still contemplating all of my options.  I believe that this degree will open many new opportunities for me and I'm excited to find a career that I can enjoy.

I currently live in Jacksonville with my girlfriend, Krista, but we are considering moving to North Carolina for cooler weather.  My parents live in Wesley Chapel with my dog, Julie, that I had to leave there for school.  She is a 13 year old pit mix but she is still a puppy to me.  Below is a picture of Julie.

Entrepreneur's Mantra.

First Post!

It's me!