Assignment 30A – Final Reflection

1.  During this class, I learned so much about the different aspects of being an entrepreneur. I thought the bug list assignment was an excellent way to begin the course because it allowed me to have a greater connection with the world around me. I also enjoyed coming up with a business idea and developing it throughout this semester, as it allowed me to apply the knowledge I learned into a real-world setting.

2.  My most formative experience was when I completed my elevator pitches. They allowed me to think from the perspective of an entrepreneur and come up with creative ways to market my product. Although I have previous public speaking experience, they helped me come out of my shell and not feel nervous about being videotaped. By the third elevator pitch, I felt more confident!

3.  I definitely see myself as an entrepreneur! I feel I enhanced my entrepreneurial mindset during this class.

4.  A recommendation I would make to future students is to stay organized. This course is different from others at UF because of its format where blog assignments and declarations are due Friday at noon, and peer reviews are due Monday at noon. As a result, it is essential to have excellent time-management skills. I recommend using a paper planner and/or phone calendar to keep track of the due dates for this class.

Assignment 29A – Venture Concept No. 2

Feedback incorporated is indicated in yellow.

Part 1

Opportunity
The group of people who require the need for my product is pet owners who have one or more dogs. This product would also be beneficial for people who live in neighborhoods, homeowners’ associations (HOA), or apartment complexes. The primary nature of the need is a reduction in the amount of dog waste in local areas. The forces and changes in creating this opportunity are increasing dog waste in these areas. As a result, people recognize this need because their neighbors may not regularly pick up after their dogs, and this is frustrating to them. This market is extensive demographically and geographically, as there is a wide range of neighborhoods that experience this problem. Specifically to my venture, this market is defined demographically and geographically as people 30 to 60 years old who live in Palm City, Florida. Customers currently satisfy this need by using products like pet waste bags. They purchase them through their local pet stores or a subscription service like Chewy. While they are loyal to the products they currently use, they wish there was a long-term solution to reduce pet waste in their communities. This opportunity is significant because the reduction of dog waste leads to cleaner communities. I believe the window of opportunity is open for a more extended period because unclaimed dog waste is a continuous (and messy) problem. 

Innovation
My innovation is the Doggie Dooty Station, which is a receptacle that enables dog owners to properly and safely dispose of their pet’s waste. This goal is accomplished through a designated slot that accommodates soiled pet waste bags. If a dog owner forgot to bring a bag, they could obtain one for free at each station. Or, they can also get a pair of gloves if they don’t like the thought of solely using a pet waste bag to pick up after their dog(s). Each receptacle also has signage that informs dog owners about the harmful effects of unclaimed dog waste and the importance of using Doggie Dooty Stations. Lastly, treats will be available for dog owners to give to their furry friends each time they use the receptacles. Not only is this incentive-based and a simple method of positive reinforcement, but it is also a measurable way to determine how many people use the stations over a certain period, such as per month. There are numerous ways I will make money through this venture. The installation fee for each Doggie Dooty Station is $200. The user cost of the station is included in monthly HOA dues of apartment rental fees. Also, for each instance of a dog owner not picking up after their dog(s) and their neighbor(s) seeing/reporting the situation, they will be fined $25 per incident.

Venture concept
I think customers will switch to this new product because of the convenience it offers dog owners where they can obtain both pet waste bags and gloves at each station. With this being said, I think it will be easy for them to switch because having these features removes any excuses for dog owners on why they aren’t using the receptacles. There are no competitors within my business location (the Treasure Coast, which includes Martin, St. Lucie, and Indian River Counties), which I think is another unique aspect of my venture. Packaging, distribution, customer support, and business location are crucial aspects in defining my business concept because these elements work together to generate customer interest, which leads to their use of the receptacles and loyalty towards the Doggie Dooty Station brand. To organize a business, I would first obtain a warehouse so the stations can be produced in a safe and centralized location. Next, I would build a team of employees to help scale the company. These employees would include a Supply Chains Manager, Customer Service Representative, and HR Manager.

The three minor elements

My most valuable resource would be branding my product. My objective is to create a strong brand that makes people want to use the Doggie Dooty Stations. My next venture would be creating a small pet waste bag dispenser that clips onto a dog’s leash with a slot like the one on the receptacles to dispose of soiled bags, and it would be called the “Doggie Dooty Dispenser.” This product would be useful if the dog owner is not near a Doggie Dooty Station but needs to dispose of their pet waste bags properly. Before I launch my product, I will develop a prototype of the Doggie Dooty Station. Afterward, I plan to reach out to local HOAs to determine if they would be interested in purchasing or loaning a station for testing. After the prototype is developed and there are no flaws, I plan to reach out to local veterinarians and pet groomers to see if they want to advertise their businesses on the receptacles. If so, their logos can be wrapped on one or more stations. In five years, I would have successfully launched my product in neighborhoods throughout Palm City, Stuart, and Downtown Stuart. Then, I would begin to look at additional areas in the Treasure Coast to install stations. 

Part 2

Overall, I received positive feedback on both my first venture concept and "what's next" assignments. In regards to my first venture concept, the majority of the feedback was that my next venture idea to include additional accessory products was smart. Also, Rachel's feedback was that no competitors in the area are excellent, and she liked the features offering gloves and treats. For the "what's next" assignment, the main feedback I received was that moving onto apartment complexes as a new market is a great path to take. David agreed that my venture's current step is to develop a prototype of the Doggie Dootie Station, and Rachel and Isabella liked my idea of partnering with local veterinarians and pet groomers to advertise their businesses on the stations.

The main piece of feedback I received was from David, stating that it would be advantageous to reach out to local HOAs to see if they would be interested in purchasing or loaning a Doggie Dootie Station for testing.

Part 3

I adapted my feedback based on the information in Part 2. Furthermore, I incorporated this feedback into my three minor elements because it helps illustrate the long-term objectives for my venture.

Assignment 28A – Your Exit Strategy

1)  My ideal exit strategy is to stay with the business for several decades and retire. I plan to retire in my late fifties or early sixties.

2)  I selected this particular exit strategy because, during this time, I can help my venture grow to its full potential. I can also oversee the development of additional features/accessories for the Doggie Dootie Station and make sure this product is at the highest standards and quality. Once I am ready to retire, I will make sure to leave my business with someone who shares the same values as me. 

3)  One of the most valuable lessons I learned from this course is there are many aspects to starting a business. I tried to complete each of the course assignments with an open mind while being realistic about my business idea. I don't think my approach towards this assignment was different from the others because I thought about the various components involved, including financial and social capital. I think my exit strategy influenced the other decisions I made in my concept because it will give me more time to enhance the Doggie Dootie Station. As a whole, this decision will provide me with the ability to grow my venture before I retire. If I stay with it for an extended period, then I want to utilize my venture's resources to make sure the Doggie Dootie Station is the best product in this market. In regards to my social capital, I want to continue maintaining the professional relationships I cultivated in my local community because these connections are valuable to my business. 

Assignment 27A – Reading Reflection No. 3

For this assignment, I chose to read "How to Fail at Almost Everything and Still Win Big" by Scott Adams.

1) The book is primarily about Adams' life and how he learned from the failures he experienced. Moreover, Adams details them and explains how specific techniques, like understanding psychology, can help increase the probability of a person becoming successful. He also discusses how these failures led to his big win, which is his Dilbert cartoon. The general theme I took away from reading this book is that this book gives insightful yet light-hearted advice on how to succeed in life.

2) This book connected with what I am learning in ENT 3003 because our last assignment pertained to embracing failure. It emphasized that failure is a normal part of life, and it can also be viewed as a learning experience. In my post for that assignment, I mentioned how I am working on improving how I handle failure. When I began reading Adams' book, I was intrigued by learning about specific techniques I can utilize when I experience failure. 

3) If I had to design an exercise for this class based on this book, I would create one similar to the bug list we completed earlier this semester. But, instead of "bugs," I would have students write down five times they experienced failure. The list would include the failure, why it happened/why they failed, and what they learned from that experience. My objective for this exercise would be to help students see that it is okay to fail and that failure leads to success.

4) A part of this book I found to be surprising was when Adams discussed the importance of implementing systems rather than goals. Furthermore, he said a system is equivalent to when a person continuously searches for something better, like a job. In contrast, he explained that a goal is specific and always in the future. I was surprised when I read about this because before this class, I never perceived systems and goals in these ways. I think goals are a valuable asset in keeping a person motivated, but I think a system keeps them on a steady progress where they can achieve their goals.

Assignment 26A – Celebrating Failure

1.  One of the courses I am enrolled in this semester is Employee Communications. Earlier this semester, I had a case study project due in that class, where I was assigned to work with two other students and complete a case study presentation on an internal communications case in public relations. We had to submit our final assignment as a PowerPoint with audio included. One of my groupmates agreed to send in the project, and she submitted it the minute before it was due (the project was due at 11 p.m.). Right after, she noticed that the audio for the PowerPoint did not go through. I immediately went to my computer and noticed she was right. She emailed our professor the next morning explaining she made a mistake submitting the project, and our professor allowed us to resubmit it! I spent an hour on the phone with my groupmate that day trying to fix the sound on the PowerPoint, and my solution worked! The long story short is that our professor advised me to submit the PowerPoint because all of the audio ended up working on my computer, and she could hear the second version of the presentation. The second best part is that my group got an 87 on the project!

2.  Although this experience did not directly happen to me, it would have affected my group as a whole if my professor was not as understanding as she was due to the nature of it being a group project. From this experience, I learned two key lessons. First (on a general perspective), it is always a good idea to submit assignments early and make sure all the required components are included. Second (from a personal aspect), I learned that I am a good problem solver. A valuable lesson my father taught me is that cool heads prevail. While I was upset that night, I had a cool head the next morning and quickly identified the issue my group had with the presentation. 

3.  In general, I do not handle failure well. When I fail, I become upset because I feel like I did not do the best I could. After I process it for a little while, then I feel better. However, I am working on accepting failure. One of the things this class taught me that failure is okay because it is a part of life. When upsetting things happen, I tell myself that if we do not fail, then we will not learn from our mistakes.

Assignment 25A- What's Next?

Existing Market

Step 1: The next step in furthering my venture would be to develop a prototype of a Doggie Dooty Station. After the Doggie Duty Station prototype is created and there are no flaws, the next step would be to reach out to local pet groomers and veterinarians to see if they want to advertise their businesses on the receptacles. If so, they can have their logo wrapped on one or multiple stations. 

Step 2: Due to the COVID-19 pandemic, the interview component of this assignment was suspended. But, based on my knowledge of my existing market, I can conclude that this is a reasonable path for my venture. From the production aspect, it is beneficial to design a prototype to test out the features and grasp which ones need to be improved. If there is a feature that does not work, then this can hurt customer loyalty. From the advertising perspective, I came to this conclusion for two reasons. First, advertising could be an additional revenue driver for my venture. Second, advertising with like-minded professionals such as local groomers and veterinarians is an excellent way to build credibility and establish community partnerships. Due to these endorsements, people would be more likely to learn about and eventually support this venture.

Step 3: I first hope to install Doggie Dooty Stations throughout neighborhoods in my town of Palm City, and then throughout Stuart and Downtown Stuart. For the future, I believe Doggie Duty Stations can be installed in communities throughout the Treasure Coast within the first three to five years of my product's launch. On a broader scope, I think this product can be installed throughout neighborhoods in South Florida within ten years. As long as this expansion is done strategically and successfully, I feel this goal is possible because it will slowly expand my venture's customer base while promoting the Doggie Duty Station brand on a larger scale.  

New Market

Step 1: Since I have been mainly targeting homeowners, a radically different market would be people who live in apartment complexes. This is because this group of people is more likely to live in urban areas.

Step 2: This venture would create value because it would enhance the apartment complex like they have an extra amenity. In other words, it would make them seem more accommodating to allow pet owners to have their furry friends because there is a pet waste receptacle within walking distance of the building.

Step 3: Due to the COVID-19 pandemic, the interview component of this assignment was suspended. However, I can conclude that my business would help these customers because it reinforces tenants' responsibilities to help keep the apartment complex clean. If there is a pet waste policy incorporated in their lease, then it will be easier for them to enforce this behavior modification. It is less expensive for the apartment complex to have a Doggie Duty Station installed than to lose revenue from unhappy tenants. The main adaptation I would make to the Doggie Duty Station for it to be successful in this market is promoting participating apartment complexes (if they have logos) in addition to local pet groomers and veterinarians. It is positive PR for the apartment complexes and a way for the Doggie Duty Station to acknowledge them for their support towards the product. I would also recognize them on my business's social media pages and website to drive interest from online consumers.

Step 4: Overall, this market is a good backup plan if there are any obstacles with getting Doggie Duty Stations installed in local neighborhoods, especially if they have stricter HOAs. Geographically, this is a quick way to reach a large customer base in a short amount of time due to the number of people who rent apartments (more people coming in and out of the building per month).

Assignment 24A – Venture Concept No. 1

Opportunity

The group of people who requires the need for my product is pet owners who have one or more dogs. This product would also be beneficial for people who live in neighborhoods, homeowners’ associations (HOA), or apartment complexes. The primary nature of the need is a reduction in the amount of dog waste in local areas. The forces and changes in creating this opportunity are increasing dog waste in these areas. As a result, people recognize this need because their neighbors may not regularly pick up after their dogs, and this is frustrating to them. This market is extensive demographically and geographically, as there is a wide range of neighborhoods that experience this problem. Specifically to my venture, this market is defined demographically and geographically as people 30 to 60 years old who live in Palm City, Florida. Customers currently satisfy this need by using products like pet waste bags. They purchase them through their local pet stores or a subscription service like Chewy. While they are loyal to the products they currently use, they wish there was a long-term solution to reduce pet waste in their communities. This opportunity is significant because the reduction of dog waste leads to cleaner communities. I believe the window of opportunity is open for a more extended period because unclaimed dog waste is a continuous (and messy) problem. 

Innovation

My innovation is the Doggie Dooty Station, which is a receptacle that enables dog owners to properly and safely dispose of their pet’s waste. This goal is accomplished through a designated slot that accommodates soiled pet waste bags. If a dog owner forgot to bring a bag, they could obtain one for free at each station. Or, they can also get a pair of gloves if they don’t like the thought of solely using a pet waste bag to pick up after their dog(s). Each receptacle also has signage that informs dog owners about the harmful effects of unclaimed dog waste and the importance of using Doggie Dooty Stations. Lastly, treats will be available for dog owners to give to their furry friends each time they use the receptacles. Not only is this incentive-based and a simple method of positive reinforcement, but it is also a measurable way to determine how many people use the stations over a certain period, such as per month. There are numerous ways I will make money through this venture. The installation fee for each Doggie Dooty Station is $200. The user cost of the station is included in monthly HOA dues of apartment rental fees. Also, for each instance of a dog owner not picking up after their dog(s) and their neighbor(s) seeing/reporting the situation, they will be fined $25 per incident.

Venture concept

I think customers will switch to this new product because of the convenience it offers dog owners where they can obtain both pet waste bags and gloves at each station. With this being said, I think it will be easy for them to switch because having these features removes any excuses for dog owners on why they aren’t using the receptacles. There are no competitors within my business location (the Treasure Coast, which includes Martin, St. Lucie, and Indian River Counties), which I think is another unique aspect of my venture. Packaging, distribution, customer support, and business location are crucial aspects in defining my business concept because these elements work together to generate customer interest, which leads to their use of the receptacles and loyalty towards the Doggie Dooty Station brand. To organize a business, I would first obtain a warehouse so the stations can be produced in a safe and centralized location. Next, I would build a team of employees to help scale the company. These employees would include a Supply Chains Manager, Customer Service Representative, and HR Manager.

The three minor elements

My most valuable resource would be branding my product. My objective is to create a strong brand that makes people want to use the Doggie Dooty Stations. My next venture would be creating a small pet waste bag dispenser that clips onto a dog’s leash with a slot like the one on the receptacles to dispose of soiled bags, and it would be called the “Doggie Dooty Dispenser.” This product would be useful if the dog owner is not near a Doggie Dooty Station but needs to dispose of their pet waste bags properly. In five years, I would have successfully launched my product in neighborhoods throughout Palm City, Stuart, and Downtown Stuart. Then, I would begin to look at additional areas in the Treasure Coast to install stations.