Reading Reflection No. 3

Reading Reflection 

of  

The New Rules of Social Media Series by Brian Halligan and Dharmesh Shah

Emphasizing the importance of Chapter 7, 8, 9 
- Topics: Getting Found in Google, Getting Found in Social Media, Converting Prospects Into Leads

To piggyback off of the foreword penned by David Meerman Scott, online marketing strategist and author, this book is great because for any business person or social entrepreneur that's looking to find practical steps and solutions to grow and spread an idea made from scratch. Inbound Marketing can even teach those who already dedicate their time, money, and energy into effectively reaching out to customers and retaining a loyal consumer base.

Shah outlines in Chapter 8 how we can look past using just the standard trending social media outlets - Facebook, Twitter, Intragram - and add them to a more diverse arsenal. There are sites on the rise, such as LinkedIn, that can be used as resources. Halligan and Shah write on how to use the features of LinkedIn to connect with others in your network. After a while, you begin to realize that to stay with or above your competition you should know them like you know your friends on your personal Facebook page.

In summation, I feel that this text has help prepare me to enter the business industry. With a budget close to around $35 (the balance in my savings account), I'm sure that I will need to certainly gain knowledge of how I can use PR agencies and resources to my advantage. Moreover, when considering the institution that I will have to set up for my business, the concepts explained toward the back half of the Inbound Marketing text will help me in recruiting the team that I'll need to serve specific roles in my strategies.

Venture Concept No. 2

Brian Dusape
Pryor
7.26.2016

Venture Concept No. 2 – KAJUKO Coolers

Opportunity

There is an opportunity to tap into the Bluetooth technology market. This market is worth upwards of $500 billion. We’re living in a society that embraces, and sometimes obsesses over, technology. According to the Pew Research Center, 68% of American have smartphones and 45% have tablet computers. Ownership of digital devices has grown within the past two decades. In fact, the same research report found that cell phones are the most commonly owned devices.

To continue, with the innovation of Bluetooth technology, more customers are buying Bluetooth devices for their cell phones, entertainment systems, vehicles, and much more. Bluetooth allows for tech users to experience their modern technology without having to deal with power cords. 

Cords tangle up, and tech users want products that they can use wirelessly. The average home hardly uses its landline; owning a “home phone” is not largely considered a priority as it used to be in the 1990s and the early 2000s. Giant cable network companies such as Time Warner Cable and Bright House Networks are offering more wireless product packages to their customers.

People are accustomed to enjoying sounds while they are on the go, and many tech-savvy consumers are now buying Bluetooth speaker devices on the Internet.

Potential customers have adapted to the world’s new technological climate by Google searches and word-of-month. Potential customers, within a wide age range, consult all of the resources that they have on hand before spending their money.  

KAJUKO’s target customers are millennials, or young adults between the ages 18-25. Because KAJUKO has collected an extensive list of the consumer habits and lifestyle trends of this demographic, our research is the most important resource in this venture. The younger generation enjoys all the different ways that someone can feel in control of their life.

The people of this generation recognize great ideas. Millennials are constant seekers of "life hacks", or products and services that make living a lot easier (i.e. the worldwide popularity of customers buying hover boards).

What my customers all have in common: the rationale to buy new products and services and the technology to view the various platforms used for marketing and promotion. I am looking to extend product lines which appeal younger generations as well. 

Modern consumers search online for what is trending. Online consumers do their research on what they need to shop for and who to buy it from. Online consumers (just like every other customer) want quality products and services from brands that they can trust. To continue, an online customer usually purchases a product at a fair value after collecting input about products from Internet articles on blogs and talking with their peers.

With that being said, there is a big opportunity to reach a market of tech users who heavily rely on mobile devices, celebrate wireless technology, and love music. A company could attract these potential customers via blogging conventions and strategic marketing via smartphones. These customers are loyal to brands that utilize these channels.

Once more, the younger customers are the prime target for KAJUKO’s innovation. The best window of opportunity will remain open for the next 5-7 years. Some of the most tech-friendly cities: Seattle, Washington; Washington, D.C.; Boston, Massachusetts; Los Angeles, California; Denver, Colorado, San Diego, California; Houston, Texas; Philadelphia, Pennsylvania; Portland, Oregon; and Atlanta, Georgia.

Innovation

KAJUKO coolers are set to sell at $199.99.  Our model unit has Wi-Fi capabilities; Bluetooth technology; two large dual stereo speakers; a 5” x 4” LED touchscreen interface, four wheels (for easy transportation); four cup holders; a THERMOS cooler that can fit at least 28 regular-size canned beverages; one RCA connector port; and two auxiliary cord ports.

At the core level, customers need a product that can not only store their favorite drinks but also liven up the party with friends. At the tangible level, the product combines premium-quality insulation packing with modern technologies. Customers can purchase this product instead of having to buy its two separate components. At the augmented level, the product is offered with a 12-month manufacturer’s warranty.

KAJUKO has a goal of selling 200,000 units by the end of 2018. Units will be sold at large box department stores such as: HHGregg, Target, Best Buy, Wal-Mart, Home Depot, Lowe’s, and Kohl’s. It will also be sold in smaller electronic stores such as RadioShack.

As mentioned before, the company looks to employ unique strategies for marketing and promotion. We plan to offer the product with BOGO sales during the summer of 2017. We plan to offer a 10% discount when customers share the sale with their friends through Facebook and other social media sites such as Twitter, Instagram, and so on.

After testing the product with potential customers, we know that a sample of them are concerned about the durability of the product. Making sure that the Bluetooth cooler has a strong structure is a large concern – as well as making sure that it is waterproof. Because customers are worried about the unit failing on them after its purchase, we will offer free trial periods. The average free trial will be seven days after its delivery to the customer. Some customers would love to enjoy the product on a beach or in other remote areas; a few had a suggestion to create a unit that has solar panel technology to recharge the unit while it is outside.

Because KAJUKO aims to be a leader in the electronics industry, we want every product from the company to keep up with the updates to digital technology. KAJUKO plans to launch an app for the karaoke feature of the device. This will allow consumers to sift through different songs and playlists to sing with their friends. It will also have an option for customers to buy certain song packs that KAJUKO plans to organize with music directors and composers. Lastly, the app will be accessible for phones, laptops, and tablets. It will work in conjunction with the cooler device if it is connected to a television or a projector (with the HDMI port). 

VENTURE closing

In the next five years, I want to see the first model created. I just want to see it used for what it should be used for: a great time. As an entrepreneur, I want to be able to create products that innovate the way that we paint our lives. I hope to learn more about the tech retail industry so I can appropriately channel my ideas and innovations onto paper. It’s one thing to have the vision, but it’s another thing to have the ingredients to mold your ideas into existence. 

Feedback:  
Most of the feedback that I received was on the marketing and promotion of the products and services which I listed above. My interviews outlined my step-by-step plan to target Millennials, or young adults. One peer recommended not using the Internet as a brick-and-mortar for my future operations for the company. He argued that I should only go for it if the product is viral and is able to realistically survive off of its popularity. Others recommended not going ahead with promoting the product through magazines and catalogs; my peers (who are mostly Millennials) say that those media are outdated and would be ineffective in reaching out to my target demographic. What I've changed with my concept is the direction in which I plan to storm the market with the product. Ultimately, this will shift how KAJUKO takes off and how we can not only sell to Millennials but also to older customers, such as those who were born in the Baby Boomer generation. 

Making it Real

Here is my entrepreneur's resume:

Final Reflection

• Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.
• An obvious low point in the class for me was the first few weeks. I felt overwhelmed of the idea of taking class, but I still enrolled to see pursue my passion for entrepreneurship. I hope to own my business or be a part of a fresh start-up after graduating from UF. That's why I ended up sticking with the class. I mostly dreaded the moments when I had to interview strangers. It wasn't that I don't know how to conduct an interview; I dreaded the thought of expressing my business ideas for others to openly criticize. After a while, I enjoyed a high point in the class when I was accustomed to interviewing customers about my unique products and services. 
• What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?
• I believe the most formative experience was creating our venture concept. For me, that assignment brought everything full circle. In my opinion, the rubric for the task explained how each element - elevator pitches, idea napkins, interviews, commenting exercises - could play a role in my career in the future. My most joyous experience was being a part of the ThunderDome group. It was truly inspiring to just be a part of an incubator for ideas that I could visualize in the world. I am most proud of learning about my secret sauce because it led to a very positive, yet deep, reflection of what I have in my arsenal for when I graduate college. 
• At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?
• I have always seen myself as an entrepreneur because I believe that I am natural-born leader with a positive mindset and confidence in myself. I do think that this class has accelerated my development as an entrepreneur and has encouraged me to take more tangible steps to creating my own company. 
• What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?
• One recommendation that I would make is making sure that you know what your potential customers are saying about your product. Feedback defines the gap between where we are in the present in our idea and where we want to be. To perform well in this class, manage your time effectively around your schedule and work (and/or involvement) schedule so you can make the appropriate amount of time to interview people. I recommend using the simple technology that you keep around you -- like the calendar on your phone or a whiteboard in your room. 

My Exit Strategy

• Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?
• I do intend to sell my business after a few years for a return. Ideally, I would like to sell it after 5 years but I'd like to be organized enough to be able to wait for a great offer before deciding to sell out. I intend to stay with the business that buys the idea for a while, but I'm not sure about sticking around for decades. I'd like to be involved with the business long enough to see its growth. I'm passionate about all my ideas - they are all like my babies. Also, if I should ever choose to formulate other products or services, i want to be able to include tweaks that I've learned from pushing my older ideas. I'm not necessarily looking to protect the venture as a family business. However, if it would make sense to pass it down to my children, I will. 
• Why have you selected this particular exit strategy?
• To be quite simple, I've selected this exit strategy because it seems to be the most effective way to do business. Everything moves in cycles; trends start and they end. Businesses rise and some fail. In the end, I want to be an entrepreneur to innovate the way that we live our lives. But, if I were to particularly stick through with an idea all the way through until I retire it would have to undoubtedly be able to create a future for my other ideas. Otherwise, each product/service will be used a stepping stone as I collect more capital in my life. 
• How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?
• I don't think my exit strategy has influenced my decisions. However, I will not remain ignorant to the possibility that my end strategy could have support some decisions in how I plan to expand on my ideas. Ultimately, they're up for sale. So, I try to fully think of the development and sales of my products to attract potential customers, investors, and employees. 

Venture Concept No. 1

Brian Dusape
Pryor
7.19.2016

Brian Dusape
Pryor
7.19.2016

Venture Concept No.1 – KAJUKO Coolers

Opportunity

There is an opportunity to tap into the Bluetooth technology market. This market is worth upwards of $500 billion. We’re living in a society that embraces, and sometimes obsesses over, technology. According to the Pew Research Center, 68% of American have smartphones and 45% have tablet computers. Ownership of digital devices has grown within the past two decades. In fact, the same research report found that cell phones are the most commonly owned devices.

To continue, with the innovation of Bluetooth technology, more customers are buying Bluetooth devices for their cell phones, entertainment systems, vehicles, and much more. Bluetooth allows for tech users to experience their modern technology without having to deal with power cords.

Cords tangle up, and tech users want products that they can use wirelessly. The average home hardly uses its landline; owning a “home phone” is not largely considered a priority as it used to be in the 1990s and the early 2000s. Giant cable network companies such as Time Warner Cable and Bright House Networks are offering more wireless product packages to their customers.

People are accustomed to enjoying sounds while they are on the go, and many tech-savvy consumers are now buying Bluetooth speaker devices on the Internet.

Potential customers have adapted to the world’s new technological climate by Google searches and word-of-month. Potential customers, within a wide age range, consult all of the resources that they have on hand before spending their money.  

KAJUKO’s target customers are millennials, or young adults between the ages 18-25. Because KAJUKO has collected an extensive list of the consumer habits and lifestyle trends of this demographic, our research is the most important resource in this venture. The younger generation enjoys all the different ways that someone can feel in control of their life.

The people of this generation recognize great ideas. Millennials are constant seekers of "life hacks", or products and services that make living a lot easier (i.e. the worldwide popularity of customers buying hover boards).

What my customers all have in common: the rationale to buy new products and services and the technology to view the various platforms used for marketing and promotion. I am looking to extend product lines which appeal younger generations as well. 

Modern consumers search online for what is trending. Online consumers do their research on what they need to shop for and who to buy it from. Online consumers (just like every other customer) want quality products and services from brands that they can trust. To continue, an online customer usually purchases a product at a fair value after collecting input about products from Internet articles on blogs and talking with their peers.

With that being said, there is a big opportunity to reach a market of tech users who heavily rely on mobile devices, celebrate wireless technology, and love music. A company could attract these potential customers via blogging conventions and strategic marketing via smartphones. These customers are loyal to brands that utilize these channels.

Once more, the younger customers are the prime target for KAJUKO’s innovation. The best window of opportunity will remain open for the next 5-7 years. Some of the most tech-friendly cities: Seattle, Washington; Washington, D.C.; Boston, Massachusetts; Los Angeles, California; Denver, Colorado, San Diego, California; Houston, Texas; Philadelphia, Pennsylvania; Portland, Oregon; and Atlanta, Georgia.

Innovation

KAJUKO coolers are set to sell at $199.99.  Our model unit has Wi-Fi capabilities; Bluetooth technology; two large dual stereo speakers; a 5” x 4” LED touchscreen interface, four wheels (for easy transportation); four cup holders; a THERMOS cooler that can fit at least 28 regular-size canned beverages; one RCA connector port; and two auxiliary cord ports.

At the core level, customers need a product that can not only store their favorite drinks but also liven up the party with friends. At the tangible level, the product combines premium-quality insulation packing with modern technologies. Customers can purchase this product instead of having to buy its two separate components. At the augmented level, the product is offered with a 12-month manufacturer’s warranty.

KAJUKO has a goal of selling 200,000 units by the end of 2018. Units will be sold at large box department stores such as: HHGregg, Target, Best Buy, Wal-Mart, Home Depot, Lowe’s, and Kohl’s. It will also be sold in smaller electronic stores such as RadioShack.

As mentioned before, the company looks to employ unique strategies for marketing and promotion. We plan to offer the product with BOGO sales during the summer of 2017. We plan to offer a 10% discount when customers share the sale with their friends through Facebook and other social media sites such as Twitter, Instagram, and so on.

After testing the product with potential customers, we know that a sample of them are concerned about the durability of the product. Making sure that the Bluetooth cooler has a strong structure is a large concern – as well as making sure that it is waterproof. Because customers are worried about the unit failing on them after its purchase, we will offer free trial periods. The average free trial will be seven days after its delivery to the customer. Some customers would love to enjoy the product on a beach or in other remote areas; a few had a suggestion to create a unit that has solar panel technology to recharge the unit while it is outside.

VENTURE closing

In the next five years, I want to see the first model created. I just want to see it used for what it should be used for: a great time. As an entrepreneur, I want to be able to create products that innovate the way that we paint our lives. I hope to learn more about the tech retail industry so I can appropriately channel my ideas and innovations onto paper. It’s one thing to have the vision, but it’s another thing to have the ingredients to mold your ideas into existence. 

What's Next

• Interview 1
• Interview 2
• Interview 3 
• Interview 4 
• Interview 5
• Interview 6 
• In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.
• Because I plan to sell to millenials, I know that for this venture to be successful I have to be aware of the trends happening in the online B2C market. I know that many of them like to purchase products only after consulting with friends, family, or well-known online reviewers. 
• What would make the most sense is allowing free trial periods to bloggers who are interested in the product. If the company wants to create a large brick-and-mortar presence online, creating a positive influence among reviewers is crucial. The next phase would be through online advertisements through social media. 
• In two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on. 
• I know that there is a large market in gift catalog sales and traditional information advertisements. I was correct in my expectation that most consumers would not prefer to buy something after seeing it in an infomercial. In fact, some customers said that even though he relies heavily on online review before buying electronics, he still distrusts informercials. I was not correct in assuming that young adults would not purchase gifts through catalog magazines. 

Celebrating Failure

• 1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time. 
• This makes me a recall at time when I suffered a huge failure in a class that I took last semester. In the past spring semester, I was taking a core course called News Reporting. It's a class that's well-known among the journalism and communications majors at UF. It's been called "a boot-camp for future journalists." It felt like a boot camp. We were required to news stories every week outside of the class - not to mention weekly lab meetings in which we would write and edit stories with an hour deadline.
  
  News Reporting took away any time to sleep and my sanity after I received terrible grades on my weekly assignments. There was a week in the semester in which I did well on all my outside and in-class assignments. And in that following week, I received the lowest grade that I ever received on an assignment. I misspelled someone's name in a news story. In News Reporting, a misspelling or AP error on anything that you submit is like a signature of your death note. And I signed mine that day. 
• 2) Tell us what you learned from it.  
• It felt terrible after receiving low grades on my assignments in the beginning of the semester. It felt really bad receiving a low grade after I saw major improvements in the prior week. 
• I learned to appreciate success more for what it is. Failure will always be around the corner to meet up with you, but success truly needs to be meticulously sought out to be achieved. And I eventually achieved success in the class after learning from all my failures which were largely due to small errors that I never detected. 
• 3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were four months ago? 
• I am usually in a mildly emotional state in the first moment that I realized I've failed at something. I try not to let it affect my behavior anymore because I believe that you assign significance to events that happen in your life by how you react to them. I'm not as embarrassed to fail any more. This class changed my perspective on failure because I feel that there is a message that failing over and over again equates to being a step closer to achieving success. I am more likely to take a risk doing something that I thought about now than I was four months ago. 

Elevator Pitch No. 3

Opportunity:

People want to have the convenience of enjoying their favorite drinks and listening/singing to their favorite songs from the radio.

Solution:

KAJUKO, a portable Bluetooth cooler device that you can roll to wherever the party is! The device has a system that has a radio with Wi-Fi capabilities. The radio has a karaoke feature and a mobile application. Along with that, the product can store up to 6 megabytes of music.

VIDEO: Elevator Pitch 3

• A reflection on the feedback you received from your last pitch. Describe what stood out to you as important, what feedback surprised you the most, what feedback you think was outright wrong or silly. 
• I got some good feedback. People staid to record the next pitch standing up to make it easier. People also felt that my revised pitch was still too long. 
• What did you change, based on the feedback?
• I stood up while I recorded this pitch; I was able to find something to sit my laptop on. I also made this pitch more concise and straight-to-point without mentioning any warranties. I also spoke more about the company. 

Unfair Advantage

• Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) 
• Resources: 
• Social capital - I have built a large networking community in Florida and New Jersey 
• Human capital - I know many people who would be willing to join any serious projects as my employees. 
• Financial capital - I am in contact with a few investors who would be willing to mentor me as I look to get into the stock market. 
• Human resources - I am talented in maintaining and leading any public relations/human resource sector in a group project (capability) 
• Ability to implement reactive business strategies - I am able to seek and identify competition for group projects which will allow for planned opportunities to sell products (capability) 
• Organizational culture - I plan to organize a company culture that will hire self-motivated employees who want to be leaders within the company because of what we stand for. Most of my ideas seems to deal with electronics, so I would want to also encourage a culture that is obsessed with technology. 
• Knowledge of information technology - I'm not unfamiliar with most information technology so I'm sure that competency will help when I brainstorm for different products to develop and sell (capability) 
• Emotional resources - As an entrepreneur, it's very important to remain adaptive, persistent, and patient. I am able to keep my emotions under control and push the ideas that I plan to develop into products or into any services (capability) 
• Great writing ability - While I mainly study effective marketing and public relations strategies, I write very well. Here's an example of my work in the Alligator newspaper: http://www.alligator.org/news/campus/article_07f32758-e5ae-11e5-8a75-0b525e0c5685.html
• Futuristic - I am able to analyze how well products would sell in the future and how they fit it in with current news trends (capability) 
• Conduct a "VRIN" analysis for each resource. That is, describe, for each resource, how it is valuable, rare, inimitable (how hard it is to copy by others), and non-substitutable (are there other resources that can provide the same benefits?). 
• VRIN
• Social capital - I have built a large networking community in Florida and New Jersey 
• Valuable 
• Human capital - I know many people who would be willing to join any serious projects as my employees. 
• Valuable 
• Financial capital - I am in contact with a few investors who would be willing to mentor me as I look to get into the stock market. 
• Valuable 
• Human resources - I am talented in maintaining and leading any public relations/human resource sector in a group project (capability)
• Rare
• Ability to implement reactive business strategies - I am able to seek and identify competition for group projects which will allow for planned opportunities to sell products (capability) 
• Valuable
• Organizational culture - I plan to organize a company culture that will hire self-motivated employees who want to be leaders within the company because of what we stand for. Most of my ideas seems to deal with electronics, so I would want to also encourage a culture that is obsessed with technology. 
• Inimitable 
• Knowledge of information technology - I'm not unfamiliar with most information technology so I'm sure that competency will help when I brainstorm for different products to develop and sell (capability) 
• Valuable 
• Emotional resources - As an entrepreneur, it's very important to remain adaptive, persistent, and patient. I am able to keep my emotions under control and push the ideas that I plan to develop into products or into any services (capability) 
• Rare 
• Great writing ability - While I mainly study effective marketing and public relations strategies, I write very well. Here's an example of my work in the Alligator newspaper: http://www.alligator.org/news/campus/article_07f32758-e5ae-11e5-8a75-0b525e0c5685.html
• Valuable 
• Futuristic - I am able to analyze how well products would sell in the future and how they fit it in with current news trends (capability) 
• Valuable 
• After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.
• My top resource is my organizational culture because I believe that people gravitate toward powerful messages. Building any company from the ground up requires diligence to overcome common obstacles. Culture is what inspires people to act on their visions, and if I can instill a culture into employees that inspires them to build products that honestly makes life easier for our customers despite the roadblocks that will come, I should be successful. 

The Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 
• In my business concept, I plan to make most of my revenue throughout the summer and the fall/winter seasons. I plan to have an online store as the brick-and-mortar for product offering. 
• Describe what kind of product offering you believe should be next. What's the next thing your customers want?
• The next thing that my customers would want is BioRead. For BioRead, I want to develop a mobile application that can give customers the ability to use biofeedback technology which will assess their physical and mental state. I want to also create a complimentary device that would remind consumers to track their BioRead throughout the week. 
• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
• I believe that it will enhance my existing product because it will be add to our brand's technological product lines which will be marketed and sold during the summer and fall/winter seasons. It will improve the user experience by simply offering a better lifestyle product to fans of our other products. It will foster customer loyalty and brand loyalty. 
• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

• The producer of Mindplace describes it as the leading manufacturer of Biofeedback devices since 1988. It is used learn to control psychological stress and overcome anxiety; improve focus and concentration; increase mind/body awareness and relax deeply; and for meditation. It is being sold on Amazon for $99 per unit.
• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
• The customer reviews are mostly positive. Customers do not like the product's design and the setup/installation process for each session. However, what most people like about it is its effective use during meditation/yoga practices.
• Describe what design/usability changes you'd make to the product. 
• I'd make it with tougher metal/wood instead of plastic. No matter how great product is, if it has a cheap plastic design then consumers will undervalue the product. In this picture, the product appears to have metal style and finish. But some customers, when they opened their package that they were discovering a lesser version of what they ordered online. 
• Describe why you think this product would make a good addition to your current product/service offering.
• It will add a bit of variety to my current product offering. I want to open product lines that allow for all types of innovation which will improve people's lives and keep customers satisfied and excited for what will be created next by us. 

Idea Napkin No. 2

• Who I am
• I aspire to become a chief executive for a successful business venture. I am a public relations student with a good background in social studies, statistics, business marketing and writing. My talents include the ability: to effectively lead groups for small and large projects and to strategically communicate to communities using a variety of a different channels. 
• What I am offering to customers
• I am offering a brand which gives customers the piece of mind that comes from purchasing my products and services. We don't buy the things that we need; we usually buy the things that we think we need. And usually that list is influenced by other people who may not even be in our lives. What I offer is a convenient customer services and products that minimize the list of hassles that we deal with every day. 
• Who my customers are
• My customers are young adults, aged 18-25. They are the demographic that I have the most knowledge on. The younger generation is control and the people of this generation recognize great ideas. My peers and I are constant seekers of "life hacks", or products and services that make living a lot easier. What my customers all have in common: the rationale to buy new products and services and the technology to view the various platforms used for marketing and promotion. I am looking to extend product lines which appeal younger generations as well. 
• Why my customers will spend money to use my product/service
• Customers would actually pay money to use my products and services because, simply put, they are things that solve the unmet needs of the average young adult in the U.S. Also, these products/services stand to benefit kids, the old, and families in the long run. 
• What my core competencies are.
• What I have is confidence and the vision for planning. I think my charisma sets me apart, and ultimately, this sets my products apart. Many ideas can be great, but they need driving forces for them to truly reach their full potential. I also have patience, and as en entrepreneur I realize how that factors into any ventures that I will choose to take in the future. 

Feedback Memo 

1. So far, the feedback that I've received was mostly positive. I see that others agree with the brand that I am attempting to build for my ventures. I will persevere with this idea. 

2. I'm very sure after I receive more feedback for my ideas that I will find many solutions to "bugs" for unexploited opportunities. I should do more to reach out to potential customers about feedback for my ideas. 

 3. I am looking to use my core competencies and strengths to reach out to the young adult demographic aged from 18 years of age to 25 years of age, but I will also do research and learn how to target children for products/services. 

4.  I should continue to promote "life hacks" as part of my brand in the future. 

5.  I will continue to have the mindset that I have toward all the product lines that I plan to develop. 

Growing My Social Capital

1) One person must be a domain expert in your industry. This would be someone who's engaged in the same type of business activity as you would like to be. They may own the same kind of company that you would like to own, or they may be a technical expert who knows a lot about the kind of product or service that you would like to produce.

2) One person must be an expert on your market. This would be someone who is targeting your market with similar products services -- or knows a lot about conducting customer research in your area -- or represents a major piece of your market (this might be most applicable with B2B markets).

3) One person must be an important supplier to your industry. This would be someone who is selling products and services to other organizations/firms in your industry. 

I have an idea which will allow the children/caregivers to track to the amount of stress in a senior citizen's system using biofeedback technology. It is BioRead. I want to open up this service through a thriving hospital such as UF Health Shands. This would be a helpful service for families who care to maintain the mental health of older people and for consumers who desire to use the product and remain updated on fundraising initiatives by the hospital. It would act like a blood pressure machine at the pharmacy, but BioRead would allow families to do this anywhere. 

Jim Greenwood (domain expert) 

1) Who they are and what their background is.

Jim Greenwood is the president of Greenwood consulting group. He is an expert in grant writing proposals and in soliciting professional advice for companies. He could play an essential part on the team. 

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Greenwood is the domain expert because he is good recognizing how features and benefits could appeal to the government about certain issues and research ventures. Moreover, he is an excellent writer who could advise BioRead's company to sell to potential host hospitals. 

3) A description of how you found the person and contacted the person.

I first found Greenwood at the UF Innovation Hub. He gave a lecture on SBIR proposal strategies, which means he gave a speech on how to receive federal grant funding for innovative ideas that you could sell to the government. We were able to speak after his speech, and he gave me his business card. 

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

He really didn't want a favor. He thinks the idea is very big and will need some development. If this were to take off, he would just want to help out initially with how to plan for this product. 

5) How will including this person in your network enhance your ability to exploit an opportunity?

He will enhance our ability to exploit how important the service is to those who understand how mental health plays a huge part in preventing depression and sadness for older people. 

Alex Powell (market expert) 

1) Who they are and what their background is.

Alex Powell is a former Director of Sales for HarborChase of Gainesville and the marketing director of UF Health Shands. He has an extensive background in business administration and has experience working within a hospital. 

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Powell has expertise in the marketing field and in business management. He could service to provide the vision for promotion strategies for the host hospital. 

3) A description of how you found the person and contacted the person.

I met Powell at a HIV/AIDs awareness event hosted by a service organization over the weekend. He gave me his phone number, and I added him on LinkedIn. 

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

Alex only asked me to assistant him for a political campaign which he is managing for a local preacher running for the city's commission. I'll just be passing out fliers and setting up post signs. 

5) How will including this person in your network enhance your ability to exploit an opportunity?

Alex will provide a great direction for where the company to go and how to pitch BioRead to potential buyers. 

Amy Bucciarelli (supplier) 

1) Who they are and what their background is.

Amy Bucciarelli is a board-certified art therapist and licensed mental health counselor at the UF Health Shands Arts in Medicine. 

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Bucciarelli would supply for this idea by managing the team who will develop the service for families and testing the biofeedback technology out on groups. 

3) A description of how you found the person and contacted the person.

I called ahead before visiting UF Health Shands to schedule a quick meeting with anyone who worked with or studied mental health. I reached Amy, and she was happy to talk with me for a little bit about my idea. She gave me her card to call back later. 

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

Amy asked for her profile to be exhibited on the digital service since it will be using her expertise and her connections in the hospital industry for BioRead's biofeedback technology. 

5) How will including this person in your network enhance your ability to exploit an opportunity?

Amy will help enhance this opportunity by pitching this to the UF Health Shands administration or competitors who could be potential buyers. 

Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?

This opened my eyes to how deliberate you have to be when you go out to networking events. Moreover, knowing what you would want from a person and what that person would expect back in return should be reflected on before you officially meet the person if it's possible. Before, I networked to make connections to just have them. But now I see how effective networking through purposeful engagement can open better opportunities for big ideas. 

Bringing in A Second Opinion (Reading Reflection No. 2)

Reading Reflection No. 2 

Inbound Marketing: Get Found Using Google, Social Media, and Blogs 

BY: Brian Halligan and Dharmesh Shah 

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

The general argument of the book is that the world of public relations and marketing has changed significantly in this new digital era. Oftentimes, the authors stress that since the landscape has changed, then the strategies must change as well. Halligan and Shah determined that today's shoppers have different concerns and can be mostly reached through today's social media, blogs, and Google. To continue, the general theme of the book is connected to understanding consumer habits and solving key issues in marketing campaigns by using inbound marketing. 

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

In my opinion, the themes in Inbound Marketing strongly support ENT 3003's core principle -- that you need to know who your customers are. In this class, we've learned that not all consumers are the same; people have unique lifestyles and issues that help explain what they will buy and what they will not buy. 

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

I would design a regular customer survey exercise for everyone who has ideas for the products that they wish to develop and sell to the public one day. Taking into account the 80/20 rule, I think that it is important to emphasize that brand loyalty is what keeps most companies afloat after initially reaching out to them with effective marketing strategies. 

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

My biggest aha moment was when I read about the authors' comparisons of the social media campaigns employed by the 2008 presidential candidates. Halligan and Shah drew up comparisons from Barack Obama's social media campaign and from Hillary Clinton's campaign. They say that anyone can objectively measure the difference and that even though Clinton had more money to employ expensive outbound marketing tactics, Obama was able to target and engage with his following online in a better way. My aha moment made me realize that anyone has a shot of being successful with their entrepreneurial ventures. All it takes is recognizing the opportunity and seizing it.