23A

Valuable: Does it have innate value for the completion of my idea?

Rare: Is it a rare trait?

Inimitable: Can it be copied?

Substitutable: Can it be replaced with a substitute?

1)Cash

Valuable: Yes

Rare: No  

Inimitable: Yes

Substitutable: No

It’s money so I believe it speaks for itself.

2) Access to a Computer

Valuable: Yes

Rare: No

Inimitable: Yes

Substitutable: No

This may be something not everyone has, but all companies have access to computers, which are key parts of a business logistically.

3) Ability to Prototype 3D models (machines)

Valuable: Yes

Rare: Yes

Inimitable: Yes

Substitutable: No

This is a resource good for prototyping but with cash flow any competitor would have access to it.

4) Connection to Starbucks Management

Valuable: Yes

Rare: Yes

Inimitable: Yes

Substitutable: No

While my connection may be unique it can also be copied by most if not all people in some form.

5) Knowledge of Robotics (vending machines)

Valuable: Yes

Rare: Yes

Inimitable: Yes

Substitutable: No

It is possible to pay someone to build and explain how robotics work so for that reason it is rare and inimitable.

6) Access to 3D modeling Software

Valuable: Yes

Rare: No

Inimitable: Yes

Substitutable: Yes

With so many programs out there this resource is easy to come by for those with the will and or cash to look.

7) Understanding of the Market

Valuable: Yes

Rare: No

Inimitable: Yes

Substitutable: No

This is a basic requirement for launching an operation such as this and would be insane if anyone failed to have this.

8) Clear Plan (Logistics)

Valuable: Yes

Rare: No

Inimitable: Yes

Substitutable: No

This is a basic requirement for launching an operation such as this and would be insane if anyone failed to have this. However my plan is different as my target audience and delivery means are relatively unique.

9) Knowledge of the users

Valuable: Yes

Rare: No

Inimitable: Yes

Substitutable: No

For the same reasons as 8 it receives the same score.

10) Family Recipe for Coffee

Valuable: Yes

Rare: Yes

Inimitable: No

Substitutable: No

This is a unique family resource and as such it is valuable, rare, unique, and non substitutable.

While writing this post I came to understand that perhaps the most important aspect that gives me an advantage in this market would be my family’s recipe for coffee. This is a key component of my idea and is unique to me. I could use this in all aspects from marketing (family recipe) to the product itself (where it’s sold). In closing this is my most important resource as it is the rarest, most versatile, and completely my own with no other source having access to it.

Elevator Pitch 3 22-A

https://youtu.be/bZygBmKqOWE 

So with the third iteration of my pitch I was told to focus more a better flow of information and to practice my pitch more. So in order to change this I walked through it multiple times and tried to remain constant and well versed with concise information. 

Over all it’s by far better than my first but as the prompt says practice makes perfect. 

Reading Reflection 2 21A

The book I have chosen to review and reflect upon is Cognitive Surplus, by: Clay Shirky.

1. The over all theme of the book is how we can spend our free time more productively and as such can work in such a way that can advance ourselves and society as a whole.

2. This book connected with the them of productivity and resonated with me as I struggled initially to allocate my time effectively. This helps me connect this to one of the major themes of being an entrepreneur which is to be efficient in all aspects possible. This also reminds me that in my free time I can be bettering my product such as through sales pitch practice, new ideas, or problem solving.

3. The exercise I would ask the class to do would be similar to the bug list where for a set period of time (a week or so) I would ask students to record what they are doing in their free time, then attempt to be more productive with it. One other option would be to take the list and add time to each activity so that students would realize just how much time they could be spending bettering them selves or their project .

4. In the third chapter Motive I realized how important motive was and at the time my biggest drive to complete my product was simply to finish it. I had little motivation to improve it, be the best it could be, or simply to even make money. This chapter made me sit back and reflect on myself and re evaluate my motives, which ultimately straightened them. I was not expecting this as I only sought the book because I was curious as to what exactly the author meant by cognitive surplus.

Growing your Social Capital 20A

Domain Expert (Zac Trampel) 

Mr. Trampel has spent over 20 years in the field of vending machines and understands which type to place where and how to achieve maximum results. He fills in this spot through his expert with selling and maintaining the type of machine that I wish to produce. I was able to find him when I reached out to family as my uncle once worked for him. The exchange was simple he would answer my questions and the favor that I would return was to continue my schooling. By bringing him into the fold I am able to have insight into the field and have access to the experience that I am lacking when it comes to choosing select locations. 

Market Expert (Brandon Yang) 

Mr. Yang has been a multi store manager for all of the UF campus's Starbucks, which allows him to fill this spot as I am to target similar markets with my caffeinated beverages. I was able to contact this person by simply walking into a Starbucks and asking for who was in charge until I was told "this is it kid". Once I asked him for insight into the market he was able to answer my questions and in exchange for this favor I was requested to fill out a survey and buy a coffee, which I did with ease. By bringing Mr. Yang into the fold I was able to gain a potential ally for coffee statistics which can help my marketing plans a great deal, due to his experience. 

Supply Expert (Chase Holcum) 

Mr. Holcum has contact within the Pepsi organization more specifically the vending machine supply aspect; which allows him to fill in the supply expert role. I was able to meet and talk with Mr. Holcum when I simply saw him filling out the vending machines on campus and asked for a moment of his time. He answered all my questions and gave me the contact info for his supplier/boss which I may use in the future, as for the favor he asked from me he simply asked me to "stay in school and if it takes off don't forget about the guy who helped you out." With Mr. Holcum in the fold he may be able to increase my understanding and social capital with bigger name suppliers. 

Reflect

This experience has allowed me to see the potential in networking and forced me to be more aware of who exactly is in the room. This differed from my past experiences as it forced me to look for ways into a monolith with very little time, days and weeks as apposed to months. 

Idea Napkin 2 19A

YOU: I am Connor Colson I am a student at the University of Florida. My skills and experiences allow me to see thing differently. This is due to my experience working and studying around the clock, with this I hope to strike the market by serving the on the go and odd hour (early or late hours) customers. My goal is to fulfill this markets need and profit. 

WHAT: I am offering customization caffeinated drinks (coffee and tea) made fresh that taste good to those who don't have the normal time or means to enjoy them regularly. The will be customization through the machine with a series of screens and menus. 

WHO: I am offering my service to those who cannot afford to sacrifice time or convince for a cup of caffeinated beverage. This could mean college students who are late to class, those who are up super early or late and need caffeine, or just anyone who wants a good cheap beverage fast.

WHY: It allows the users to have access to coffee and other drinks that they may not have access to normally, I am selling convince and caffeine to those who need it.

WHAT:  I am different because with the use of vending machine I will have 24/7 service to customers while keeping costs low due to that lack of an overhead and employees. My doing so I may have on average 12 or so more hours of potential sales over my opponents.

I believe that these elements go together well. On paper I have a nearly trapped audience who cares for convenience, price, and taste, However in practice I still have much to learn.  The machine may not always create the same type of coffee and I may not be able to achieve the same level of customer service as a machine does not have a talking face. I do believe my product will be successful because everything else (the audience, service, and product) all fit well together. 

The feedback I received was mostly kind but they told me I was clear but sometimes the sentence structure was off. So in order to combat this I tried to ensure the sentences were easier to read and still told the message clearly. 

Creating a Customer Avatar 18A

My Customer Avatar is a 23 year old woman named Michelle who is focused on her work and as such feels much older than she is. She has recently enrolled in a masters or higher learning degree at any campus across the nation. She enjoys reading, watching the newest drama, and has an addiction to caffeine as most people do. She has no children but is in a committed relationship where she attempts to balance her home and school life. She spends most of her day at the library attempting to get ahead and tackle the events before her. She enjoys dogs, and is always looking for more hours in the day, in an attempt to stay safe during her commutes and have an edge on the competitions she drinks her caffeine at all hours in the day so to always stay alert and awake.  

The only things I have in common with my avatar is that I enjoy dogs, books, and want to succeed in school. The reason for this is that they are very common traits that many of my friends share and since they have been my group for questioning they have become part of my ideal customers. 

Elevator Pitch V2 17A

Elevator Pitch V2

So with this pitch I wanted to focus on some of the feedback I received from both the comments and from friends who asked to see the video. The most common feedback that I received was that I talked to fast and it didn't sound rehearsed. So while all feedback is welcome and thus useful (to some degree) I attempted to change my pitch accordingly. How I changed it was I walked through it a few times, and that I mentioned the customization, the target market, and that I had plans for the future.