Final Reflection

1) Read through your posts 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.

• Based on all of my posts from the semester, I didn't necessarily have any lows or moments of drudgery. I found each assignment/blog post to be interesting to write. The highs from all the posts would be the ones where I was able to have more creative freedom like the "what's next" post or the "what's your secret sauce." I found the most challenging assignments to be the interviews because it was hard to summarize exactly what I learned when talking to people and was overall difficult to find people who would be a good match for the assignment. 

2) 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?

• The most formative experience for me in this class was finding something that I was passionate about and imagining myself making a product out of that. It was fun to do research about my potential product and research people who have done similar things and be able to tweak it to be a truly unique product. I also think it was fun to do research on how exactly I could create my product since I am already so passionate and interested in the leather industry, and finding possible sustainable materials was very entertaining for me. 

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

• I don't necessarily see myself as an entrepreneur, as I find the business world to be very boring and I couldn't ever really see myself being at the forefront of it, however, I do think the idea of creating a product to be very intriguing. I have always had this idea of creating a good leather alternative, so it was fun to really research the idea and explore it more in-depth. I definitely have learned more about what exactly becoming an entrepreneur entails and am now more open to the idea of starting my own company one day. 

4) 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?

• I would recommend future students understand that the product they chose in the first few assignments is going to be the one that is discussed for the entirety of the entirety class, so make sure you really want to talk about it and have a passion for it. I didn't really know when I first decided on my product that I would be focusing on it for the entire class, so I am glad I chose the product I did and it was something that could be expanded upon and something I am truly interested in.  
  

Venture Concept No. 2

Opportunity:

• There is currently a huge worldwide market for leather and fur. The industry is one of the largest in the world and is contributing negatively to both humans, animals, and the environment. The leather industry is both an environmental and humanitarian crisis. The tanning of leather creates many dangers to both the environment and those that work within it. The environmental threat involves the dumping of solid and liquid waste that contains leftover chromium and other hazardous compounds. 
• The chrome pollution that comes as a result of the tanning process is extremely damaging to the environment, as well as the water waste that is produced in this process. The large doses of chromium produced when tanning leather can damage fish and plants in the area it's dumped in. 
• Due to the rise in environmental sustainability and veganism in society, there is a need for a good leather alternative. Many people are starting to become aware of the cruelty that goes on in the animal agricultural industries, and it's creating a market for animal alternatives. 
• This is a big opportunity because there is not a large market for a leather alternative. This leaves a lot of room for a company to come in and rule the market for vegan leather, and possibly many other vegan alternatives. 
• The potential customers are those who have an interest in environmental sustainability, veganism, and humanitarian efforts. 

Innovation:

• My innovation will be a sustainable alternative to leather, which will be made from plant materials. This product will be good for the environment and not pose a threat to animals or humans, which leather does. This product will be able to be compostable when desired, but it will be as robust as real leather and will be used in the same materials. There are leather alternatives that exist, but none are made from plants and made to be sold in large quantities. This product will be sold to individuals in the form of shoes, car seats, and handbags. 
• This product will be sold in bulk to businesses who want to reach a larger audience and demonstrate that they care about the environment. I would sell this product by the amount or weight of the amount being purchased, possibly around $250 per yard. 

Venture Concept:

• Individuals will buy my product if they are concerned with the environment and the way that animals and humans are treated in the leather industry. They would buy my product at boutiques or clothing stores where they would normally buy shoes or handbags.
• Businesses will buy my product to show that they care about the environment and are taking a stance for something positive. People want to buy from companies who want to make a difference in the world and put their hard-earned money into the hands of people who care. Many companies now are starting to be more environmentally conscious due to the huge growing concern about the state of the earth. People are willing to change little things in their life more than ever in order to possibly minimize their environmental impact. Businesses are realizing this and are starting to take the initiative to "go green" in little ways, which piques the interest of buyers and therefore boosts their sales.
• People will switch to this product if they have the proper education about the leather and fur industry. It might not be an easy feat to get people to switch from a product they have been using their whole life, but it is possible with the proper education. I would have to create a large ad campaign to demonstrate to people how important making the switch is. Advertising would have to play a huge role in the success of this business endeavor.
• Price point: The price point for leather products are currently not high, but it depends on the brand. My specific leather would be made from plants, so the price will be comparable to real leather. I would also make it my mission to pay my workers well and create a friendly working environment, which might increase the price of the product.
• Distribution: I would start distributing this product to vegans since they are already the target audience. Vegans already have an interest in buying meat alternatives, so they would definitely be willing to explore leather alternatives.
• Employees: I would definitely start with a small number of employees. Creating a faux leather would not take a lot of manpower, but would need to focus more on skill. It takes a lot of knowledge to create a sustainable alternative to any product, so creating a leather out of plants or fruit skin would take a lot of effort. I would also make it a goal to treat employees as best as possible and create a good working environment.

Unfair advantage:

• I think it would be hard for competitors to have the same motivation that I have for creating this product. It isn't easy to maintain strong ethics and morals when going into a business, but if I can uphold these then it will be hard for competitors to get a leg up. Consumers are attracted to companies that have a strong backbone and a passion for sustainability. Other companies can create a similar product, but having the ethics surrounding my product cannot be matched. 

What's next:

• I want to make sure that people realize that they are constantly supporting an industry which is so detrimental in so many ways. People are very unaware that when they buy something, they are directly supporting a whole industry with their money. 
• For me, I would like to learn more about industries in the world that are so negative but people aren't aware of it. There are many industries out there that are running on poor ethics and destructive ideas, and I want to make sure I am not supporting them.

Interview reflection:

• All in all, this segment opened my eyes to different features and possibilities of the product. Over anything else, the faux leather needs to be perfect in order for people to consider it. I should go to a place that already sells a leather alternative and considers what can be improved on in terms of material, texture, and the product. If I have a product to compare to and improve on, it would make the product better. From conducting these interviews I learned that there was a lot of pushback to using faux leather due to the fear of customers now being interested. There was a common concern of the loss of customers since it is such a huge change for companies to switch over such a desired material. The demand for faux leather might not be that high because there are not a lot of people who are educated in the leather industry. I learned that people are really afraid of implementing new products into their business because they are fearful of losing sales. I do think the concern is valid because people, in general, don't like change, but with something so detrimental to our environment, I think people would be willing to buy a leather alternative if people were educated on the topic. 

How I changed: 

• Based on the feedback I received, I changed a few things regarding my product. Firstly, I noticed that people wouldn't necessarily be willing to completely switch over to fully vegan leather, so I thought maybe I could incorporate some recycled leather in order to help the environmental waste as well as help transition people. I also found out that people aren't educated on the industry so I would have to focus a lot on advertising and making sure that people are informed on why I am selling this product. 

Your Exit Strategy

1) 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 plan to stay with my faux leather product until I make enough money to be financially stable enough and can afford to not work for a good amount of time. I would keep this plan until I decide to start another business or work on another project. After working on my product for a while I would probably sell it to a company who has the same ideals and ethics that I have and will maintain the value of the product.

2) Why have you selected this particular exit strategy?

• I selected this exit strategy because I want the opportunity to branch out creatively, and this would give me that chance. In order to keep life interesting and creatively fulfilling, I need change and the opportunity to be completed with a project and move on to something else. 

3) 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 think this exit strategy reflects my importance on maintaining a certain ethical code with my product and the people who would be working on it. I would make sure that the company I sell my product to would have a good background and would make it a priority to stick with the morals that I have, and also have the same passion about the product. Knowing that I would eventually leave the business would impact how I present the product and would allow me to open myself up to other business owners since I know that I want to work on other things at some point. It would allow me to make connections and network, and not close myself off and focus solely on one project. 

Reading Reflection No. 3

• I read The Art of Social Media: Power Tips for Power Users, Guy Kawasaki

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

This book discusses the ways in which social media can benefit your life or be detrimental to it. The book discusses how there is a strategy in using social media so that it can benefit you and not be something that weighs you down. The strategy discusses is to stay focused on what you want to gain and don't allow other things to get in the way. The book also discusses how to get started on social media and how to use it for marketing. 

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

This book was really beneficial for any entrepreneur or young person who uses social media to read. It gives a different perspective on social media and how to use it for your benefit, not just to connect with your friends and develop unhealthy habits from it. The book gives a list of strategies to implement into your time spent on social media so that can achieve success. It relates to this class by discussing target audiences and marketing techniques, which we also discuss. 

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

I would have everyone create an Instagram account or a blog and attempt to implement the techniques listed in the book. This would be a type of experiment to both see how easy it is to use these marketing strategies and also to see if they work in the real world. The class would create demand for a product, drive online traffic, build a following, and create a network for their product. 

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 surprise while reading was how this book is very focused on marketing through social media and not much else. I was expecting this book to focus on the social aspect of social media and the individuality that makes it appealing for people, but it really focused on brand and product recognition and marketing. I think it could have focused more on how if you portray yourself a certain way online you can also achieve the same things, but without a product. You can use social media to simply market yourself and capitalize off of yourself, and have brands reach out to you wanting to work with you. I think the book should have discussed this more, not focused so much on products. 

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. 

• A time last semester I felt a huge amount of failure was in my news reporting class. I was going through a really hard time in my personal life and found the class extremely difficult to well in. We were required to write in AP style and turn in a "breaking news" story every week, which I found very challenging, especially for Gainesville. My TA was really strict on grading, and learning an entirely new way of writing proved to be very difficult for me. I was doing very poorly in the class for the first couple of weeks and received my first F on an assignment in college. Eventually, I did a ton of extra credit and starting to get the hang of the class and the assignments, but the first couple of months left me feeling really defeated. 

2) Tell us what you learned from it.  

• This class made me realize that not everything is going to come easy to me and there are going to be very difficult classes in college. It was the first class I truly thought I might not get through, but I forced myself to push through and I eventually passed. It definitely was a wakeup call for me that not everyone is going to be helpful to me at such a big university, and I will be having to figure things out for myself. 

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 just a few months ago?

• Failure is hard, but it is something we all have to go through to realize that life is not easy. Some things are going to come really easily, but there are some things that are extremely difficult that you might not be able to handle. It's important to experience failure in order to grow from it and learn from your mistakes. Failure is definitely a really hard wakeup call, but we all need to go through it. This class changed my perspective on failure because I learned that you can fail momentarily but succeed in the end if you try hard enough and don't let the failure consume you. 

Whats Next?

What's next for my product and service:

• I think the next product I should consider should be marketed to those who don't necessarily feel like branching out with faux leather but are somewhat interested in the idea. As of now, these individuals do not have any experience with faux leather and don't necessarily know what it entails, so I would branch out and talk with them. I think my product should manufacture a product that contains some leather recycled leather, but is overall mostly made with plant and fruit cells and stems.

Market Interviews:

• I interviewed a girl who is vegetarian and tries to limit her use of leather and animal products. I talked with her about I asked her several questions about what her opinion was about the leather and fur industry, and she didn't even seem to be aware of the environmental impact. She said that she had a vegan diet but sometimes if she found a bag or pair of shoes that she really liked but were made with some leather, she might consider buying them. She was surprised to find out that the working conditions for people producing leather were very poor and she said she would be very interested in buying a good leather alternative. 
• I interviewed an engineering student who is vegan and is starting to incorporate alternatives in all aspects of his life. He seemed to care more about the fact that there is a large environmental impact, not so much about the ethics of the industry. He is an engineering student who tries to budget while in college, so the leather is not something he thinks very much about. He said he owns a few leather products, but would reconsider the materials of his shoes next time he decides to go shopping. He said his main concern when buying products is the price, so if the alternatives are priced well, he will buy them 
• Lastly, I interviewed a man who has been vegan for 30 years and has slowly cut out any and all animal products. He is very passionate about veganism and has been an advocate for several years and has strong beliefs about the fact that the leather industry is both cruel for animals as well as our environment. He would be very interested in the faux leather that I would be creating.

Reflection:

• After talking with people who are already in the market that I would be going into, they would be very willing to buy my product. There is a strong community of those who are passionate about veganism and animals, and they would be my main target. From these interviews, I learned that it would be pretty simple to use vegans as my target audience, and they would be very willing to try my product if I labeled it as vegan and promoted the idea that leather is detrimental to the environment.

New Market:

• The new market would be those who are either against veganism or are very passionate about leather and are very set in their ways. Some people prefer the traditions in life and don't appreciate branching out in any way. This new market would be very difficult to penetrate, but in order to have a successful product, you need to target everyone.

New market interviews:

• This interview was conducted with a library staff member who has been working in the library for 6 years. He is an older man who doesn't shop or think about material items much. I asked him what he thinks of the leather industry and he didn't have much to say about it other than it was a "necessary evil." I proposed the idea of an alternative to leather in order to cut down on the environmental impact of leather and he said he would prefer to buy items that had less of an impact on the environment. He said he wouldn't go out of his way to make the switch but if it were in front of him, he would buy a faux leather. 
• In this interview, I talked with a male grad student. We discussed the fact that leather and fur are extremely detrimental to our environment, as well as cruel for animals. He seemed to care more about the fact that there is a large environmental impact, not so much about the ethics of the industry. He is an engineering student who tries to budget while in college, so leather is not something he thinks very much about. He said he owns a few leather products, but would reconsider the materials of his shoes next time he decides to go shopping. He said his main concern when buying products is the price, so if the alternatives are priced well, he will buy them.
• This interview was conducted with a female student who said she mostly wears leather shoes and she doesn't consider it an issue. She said that she knows that an animal will have to die for the shoe but she thinks eating meat could be considered just as wrong, and therefore, doesn't consider it an issue. She mentioned that she has never given leather alternatives a thought because the quality is not the same and it isn't as easily attainable.

Reflection:

• These interviews made me realize that it would be difficult to get into this new market, but not impossible. Everyone I talked to said they would consider buying this product but would need to test it and experience the fact that it would be just as good as real leather. Overall, I think it would be very easy to sell this product to vegans and those who have an understanding of the leather industry, but very difficult to sell and market to an audience of those who are very set in their ways. 

Venture Concept No. 1

Opportunity:

• There is currently a huge worldwide market for leather and fur. The industry is one of the largest in the world and is contributing negatively to both humans, animals, and the environment. The leather industry is both an environmental and humanitarian crisis. The tanning of leather creates many dangers to both the environment and those that work within it. The environmental threat involves the dumping of solid and liquid waste that contains leftover chromium and other hazardous compounds. 
• The chrome pollution that comes as a result of the tanning process is extremely damaging to the environment, as well as the water waste that is produced in this process. The large doses of chromium produced when tanning leather can damage fish and plants in the area it's dumped in. 
• Due to the rise in environmental sustainability and veganism in society, there is a need for a good leather alternative. Many people are starting to become aware of the cruelty that goes on in the animal agricultural industries, and it's creating a market for animal alternatives. 
• This is a big opportunity because there is not a large market for a leather alternative. This leaves a lot of room for a company to come in and rule the market for vegan leather, and possibly many other vegan alternatives. 
• The potential customers are those who have an interest in environmental sustainability, veganism, and humanitarian efforts. 

Innovation:

• My innovation will be a sustainable alternative to leather, which will be made from plant materials. This product will be good for the environment and not pose a threat to animals or humans, which leather does. This product will be able to be compostable when desired, but it will be as robust as real leather and will be used in the same materials. There are leather alternatives that exist, but none are made from plants and made to be sold in large quantities. This product will be sold to individuals in the form of shoes, car seats, and handbags. 
• This product will be sold in bulk to businesses who want to reach a larger audience and demonstrate that they care about the environment. I would sell this product by the amount or weight of the amount being purchased, possibly around $250 per yard. 

Venture Concept:

• Individuals will buy my product if they are concerned with the environment and the way that animals and humans are treated in the leather industry. They would buy my product at boutiques or clothing stores where they would normally buy shoes or handbags.
• Businesses will buy my product to show that they care about the environment and are taking a stance for something positive. People want to buy from companies who want to make a difference in the world and put their hard-earned money into the hands of people who care. Many companies now are starting to be more environmentally conscious due to the huge growing concern about the state of the earth. People are willing to change little things in their life more than ever in order to possibly minimize their environmental impact. Businesses are realizing this and are starting to take the initiative to "go green" in little ways, which piques the interest of buyers and therefore boosts their sales.
• People will switch to this product if they have the proper education about the leather and fur industry. It might not be an easy feat to get people to switch from a product they have been using their whole life, but it is possible with the proper education. I would have to create a large ad campaign to demonstrate to people how important making the switch is. Advertising would have to play a huge role in the success of this business endeavor.
• Price point: The price point for leather products are currently not high, but it depends on the brand. My specific leather would be made from plants, so the price will be comparable to real leather. I would also make it my mission to pay my workers well and create a friendly working environment, which might increase the price of the product.
• Distribution: I would start distributing this product to vegans since they are already the target audience. Vegans already have an interest in buying meat alternatives, so they would definitely be willing to explore leather alternatives.
• Employees: I would definitely start with a small number of employees. Creating a faux leather would not take a lot of manpower, but would need to focus more on skill. It takes a lot of knowledge to create a sustainable alternative to any product, so creating a leather out of plants or fruit skin would take a lot of effort. I would also make it a goal to treat employees as best as possible and create a good working environment.

Unfair advantage:

• I think it would be hard for competitors to have the same motivation that I have for creating this product. It isn't easy to maintain strong ethics and morals when going into a business, but if I can uphold these then it will be hard for competitors to get a leg up. Consumers are attracted to companies that have a strong backbone and a passion for sustainability. Other companies can create a similar product, but having the ethics surrounding my product cannot be matched. 

What's next:

• I want to make sure that people realize that they are constantly supporting an industry which is so detrimental in so many ways. People are very unaware that when they buy something, they are directly supporting a whole industry with their money. 
• For me, I would like to learn more about industries in the world that are so negative but people aren't aware of it. There are many industries out there that are running on poor ethics and destructive ideas, and I want to make sure I am not supporting them. 

Your Venture’s Unfair Advantage

1. Human capital: having friends who are interesting in this product and would be willing to venture into the idea together. This is important because it allows me to have people to discuss ideas with.
Valuable: This is important because it will allow me a backbone in the business and help me feel more comfortable
Rare: not rare, everyone has people help them in businesses
Inimitable: this is able to be imitated but, not always efficiently
Non-substitutable: you can't substitute people you trust

2. Social Capital: UF journalism school can possibly help spread the word about my product since I am involved in journalism organizations.
Valuable: The journalism school is one of the best in the country and they have a lot of connections for publicity.
Rare: This is rare because not every school or person has journalism connections
Inimitable: This can't be imitated because journalism is hard to get into
Non-substitutable: This can be substituted, but it would be difficult

3. The uniqueness of venture: there aren't many faux leather products on the market currently, which gives me an edge up and the opportunity to run this specific market.
Valuable: This is very valuable because if my product was the same as others, it wouldn't sell
Rare: This is rare because of how saturated many markets are currently
Inimitable: This can't be imitated, either your product exists of it doesn't
Non-substitutable: Can be substituted if someone makes something better

4. Support by public and organizations: since so many people are currently interested in environmental sustainability, there would be a lot of public support.
Valuable: This is valuable because it spreads the word about the product
Rare: This isn't really rare, everywhere has oragnizations
Inimitable: This can be imitated
Non-substitutable: Can be substituted with other public relationships

5. Publicity: veganism and sustainability are both buzz words in society right now. By creating a product that includes these issues, will bring about a lot of publicity
Valuable: This is valuable because it peaks public interest
Rare: This is rare because not everything is a buzz word
Inimitable: This can't be imitated because it's a societal decision
Non-substitutable: This can't really be substituted

6. Sales experience: I have experience in retail and commission sales, which would help me in understanding the world of product sales and customer interests.
Valuable: This is valuable because I have some knowledge about how to talk with customers to get them to buy products
Rare: This isn't rare, a lot of people have worked in sales/retail
Inimitable: This can be imitated, you can have other experience dealing with customers
Non-substitutable: Can be substituted, I could have worked with people in a different way and have a similar experience.

7. Personal relationships with business owners: I have personal relationships with business owners in my family who could possibly help me on the business side of starting a company since I am not confident in that field.
Valuable: This is very valuable since I have the comfort of discussing business with family members who won't judge me and will give me honest feedback
Rare: This isn't rare, usually people have at least one family member with business experience
Inimitable: This can be imitated, pretty much everyone has a family.
Non-substitutable: This can't be substituted since it's a personal relationship

8. Social capital: UF environmental and vegan organizations: there are several organizations at UF that are passionate about veganism and environmental sustainability and would help me obtain contacts for other organizations and would be interested in the product themselves.
Valuable: This is very valuable because not everyone has connections within their school
Rare: This isn't very rare, there are organizations everywhere
Inimitable: Can't be easily imitated
Non-substitutable: Could be substituted for local clubs/organizations

9. Social capital: public speaking experience. Having experience speaking publically makes me more comfortable to discuss important issues in front of any audience, like when I would have to pitch my ideas to investors.
Valuable: This is very important because talking to people confidently is a huge way to sell your product
Rare: This isn't rare, but mastering the skill of public speaking is rare
Inimitable: This can be easily imitated with practice
Non-substitutable: This can't really be substituted unless I hire someone to talk for me

10. Social capital: contacts with boutiques who would be willing to see this product. I have worked with several boutiques in Fort Lauderdale and the South Florida area and have contacts whom I can talk to and discuss the possibility of selling faux leather.
Valuable: This is very valuable since I would get an insight into businesses who would possibly sell this product
Rare: Not very rare, most people have connections with potential buyers of a product
Inimitable: This can be imitated
Non-substitutable: This can be substituted for other businesses or potential clients

I would say the top resource would be the uniqueness of the venture and the fact that the current market for faux leather is not saturated by a ton of options and alternatives. There are a few options for it, but none that are controlling the field I would be interested in.

Elevator Pitch No. 3

https://youtu.be/9vGzF6bvLP0

Reading Reflection No. 2

Thinking, Fast and Slow by Daniel Kahneman

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

This book discusses how there are essentially two systems in your brain that are consistently fighting for control over your behaviors and your actions. This book basically is an instructional guide to teach you how some people have errors in your judgment, memories, and decisions and what you can do about it. 

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

This book enhanced my knowledge about how to create motivation within yourself, which goes hand in hand with entrepreneurship. This book discusses how your brain has two systems - conscious and automatic, which influences your decisions. The author relates this book back to making money and how to use your conscious brain to make decisions about money and leave your emotions at home. 

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

I would create an exercise in which there is a list of decisions and motivations and you have to match which system of the brain they relate to - conscious or automatic. Then, you would be asked to evaluate which decisions would be made from error in memory or judgment.

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 surprise when reading this book was that your conscious brain is aware and considerate and best for making hard decisions, and your automatic brain is impulsive and emotional. I didn't realize that we had control over these systems in our brain and if we manipulate and understand them, we can make better decisions. 

Growing Your Social Capital

Bill Fisch - President of Mitchell Performance Faux Leather 

1) Who they are and what their background is.

Bill is the president and owner of the Mitchell Group. Mitchell was established in 2004 and is a major converter of coated fabrics to various upholstery markets around the world. 

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

Domain Expert 

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

I did some research on large faux leather companies that produce faux leather and outsource it to companies, like my business would do. The Mitchell group seems to be one of the biggest suppliers of faux leather and I found the owners' contact  information on their website 

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

I did not exchange anything for talking with Bill. I asked him for some information about himself and his business for this assignment but I didn't give him any information in return, as I don't really have anything valuable for his business. 

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

Including Bill Fisch in my network would give me a better idea of the industry I want to get into and would help me understand how it's like to work with companies and sell them faux leather. It would be helpful to get information from someone who has already been in your shoes and made it out being successful. 

Manny Kohli - President and owner of Matt & Nat 

1) Who they are and what their background is.

Manny Kohli is the president and owner of the vegan Canadian accessories brand, Matt & Nat. He is from India and was drawn to the company due to his love for animals the culture he grew up in. 

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

Market expert 

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

I found Manny Kohli by researching companies that sell vegan handbags and accessories. Matt & Nat is one of the most well-known companies creating vegan leather to create handbags and accessories. 

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

Including Manny Kohli in my network would be extremely beneficial to me and my business. He is extremely knowledgable on the faux leather/vegan accessories industry and would know how to go about creating this business and how to properly market vegan leather. 

Matt Foster - Owner of Maverick Leather Company 

1) Who they are and what their background is.

Matt Foster is the owner of a large leather supplying company. He has been in this business for 30 years and focuses on supplying the best quality leather to companies or individuals. 

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

Supplier 

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

I did some research on real leather suppliers that I would possibly be in competition with for vegan leather, and I discovered Maverick Leather Company and Matt Foster's contact information was located on their website. 

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

Including a competitor in my network would be helpful because I can attempt to have an edge up in regards to marketing techniques. I could also learn how and why leather is more desirable than faux, and learn about the overall market. 

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Elevator Pitch No. 2

https://youtu.be/9vGzF6bvLP0

Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

My name is Lauren. I have discovered, after talking with people close to me, that I am reliable and independent. People tend to consider me a person they can count on, and if I say I am going to do something, I always do it. In regards to my business concept, this business would probably make a positive impact on me due to the positive effects it could have on the environment. Hopefully, this business would make a good amount of money so my life would be different in that way and I would have 100 million more responsibilities. 

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

This has not changed since the last idea napkin, my business concept is still the exact same. I found that people were really interested in the product when conducting my interviews. I initially thought I would be the one designing the faux animal products, but after talking with a bunch of different people, I realized selling to bigger companies so they can use the material as they choose is a better idea. So my product is going to be a sustainable leather and fur alternative made out of fruit skins, plant cells, etc... It would be created in bulk and sold as material for companies to implement into their products. 

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

The demographic for this product would be anyone who has an interest in animal product alternatives and those who understand the impact that leather has on the environment. It doesn't have to just be people who are educated on it, but maybe those who just don't want to wear animals. The product would probably pertain to a younger audience (20s/30s) and would probably be for a more environmentally conscious shopper. Someone who drives hybrid cars, shops at Whole Foods, vegans/vegetarians, people who have religious or cultural beliefs that make it hard for them to wear leather. 

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

Customers will pay money for this product because the environment is in such a bad state. Everyone knows that climate change is getting worse by the day, and people are really wanting to do anything they can to help. If educated about the leather industry, people will buy this product with the hopes of making a positive difference. Companies will choose this product because it looks good for big corporations to be environmentally conscious. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

There aren't too many competitors in this field, at least none that have had the same goals as me. It seems that most companies who produce faux leather don't have the intention to sell it to other companies as material, they usually make their own products with their faux leather. What sets me apart is my bigger picture viewpoint. I think faux leather should be implemented in every company, at least so consumers have the opportunity to see how easy it can be to make the switch. 

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

I think all these elements fit together. With any business, there is a risk that no one will like the product or it can be a little tricky to get people to understand your vision, so that can definitely be a factor for my product. I would need to develop the perfect leather alternative that people would be willing to pay for and switch over from real leather, so that could be very very difficult.

Create a Customer Avatar

My product can be sold to businesses that can be later sold to individuals. I will focus on the individual who would buy my product of faux leather and fur.
She is a 20-year-old girl who lives in California, one of the most environmentally conscious states in America. She goes to the University of Southern California and studies environmental sciences. She has been living on a plant-based diet for over two years and tries her best to be as conscious as she can when buying her everyday products. She loves fashion and buying second hand. She tries to cut back on her environmental impact by mostly going thrift shopping, limiting her plastic by bringing reusable bags to the grocery store and using reusable coffee mugs and straws.
She drives a black 2015 Hyundai hybrid SUV to the grocery stores and shopping but takes the bus to class in order to limit her C02 emissions. She spends a lot of time on research both for school and for her blog where she promotes a healthy, minimalist lifestyle. She doesn't spend a lot of time watching TV but her favorite show is Gilmore Girls and her favorite politician in Bernie Sanders.

What do you have in common with the customer avatar? 
Both the avatar and I try to limit our impact on the environment and try to live a healthy lifestyle. We also are both in college and spend a lot of time on homework and research. 

What’s Your Secret Sauce?

Describe five ways in which you think you have human capital that is truly unique. 
1) I'm responsible
I'm really true to my word and usually feel extreme guilt if I go back on something I promised, so this attributes to my responsibility. If I have something to do, I always do it, even if I have to wait till the last minute and if I really don't want to do it. 
2) I'm very honest 
This is almost to a fault. If you want my honest opinion, you will get it. I try to read the room when voicing my opinion because I can come across as ~too~ honest if I say the wrong thing in front of the wrong people. 
3) I usually like animals more than humans 
I'm not sure if this has to do with human capital, but I couldn't think of a lot to write. I think I connect with animals more than humans. Animals can't lie or be evil, they just do what is in their instinct with no evil intentions. I love animals lol. 
4) I'm really independent 
This also could be considered a fault because sometimes I unintentionally isolate myself until someone calls me 10 times and forces me to leave the house. I'm really good at doing things by myself, I don't need the push of my friends or family in order to do anything. 
5) I usually have a different viewpoint than the majority. 
I'm not exactly sure what this means, but my mind kind of works differently. I seem to interpret things differently, like poems or books. I'm sure my analysis essays are really 
~interesting~ for my professors to read because they are so different from anyone else. I guess it's good for creativity in business because I will always have a random, different standpoint on things that others might not think about. 

 Interview the five people who know you the best.
I interviewed my mom, my brother, my friend Chloe, my friend Bella, and my friend Christian and asked them what they think makes me different. Here is what I took from the interviews. My mom claims there is a lot that makes me different. She mentioned how extremely independent I am and how most people my age aren't so comfortable being alone, but I prefer it at times. My brother had a hard time with this because I take it he doesn't think about things like this, but he said I have a really interesting, dry sense of humor. I'm not sure if this relates to human capital but this is what he told me. My best friend Choe said I am really creative and that I have a lot of unique qualities. She said the way I think about things is really different than a lot of people and that makes me super creative. I asked Bella what she thinks makes me different and she said I'm really good at saying what I think without holding back. She said this can be a bad thing sometimes, but most of the time it's good to hear a blunt, honest opinion about things when others won't give it to you. Lastly, I asked Christian what he thinks makes me unique. He said something similar to my mom about my independence. He said it's good to be as independent as I am because you don't feel a sudden uncomfortableness when things go a certain way and you have to deal with things or situations on your own. 

 Reflect on the differences. 
I think people I am close to see me in a very similar way as I see myself. For some reason, people are always telling me what they think about me and sharing their opinions about me even when I don't ask them to. With that being said, I could pretty much assume what they were going to comment in the interviews. They all pretty much said things I know about myself. I think the way I portray myself to people I'm closest to is identical to how I truly am, so of course, they are going to say the same things I said about myself. 

Figuring Out Buyer Behavior No. 2

Segment: 
I chose a segment of established business leaders. All three of my interviews were with people who own a business.

Alternative evaluation
From the interviews, I learned that people who own companies are very picky with what they sell. The boutique owner I interviewed said she would need to see a really good leather alternative before considering switching over and that the price would be a huge factor. She and the other business owners I interviewed all said they have guidelines they follow when selecting items to sell since it is a portrayal of their business. From these interviews, I learned that price and quality are the main factors.  

How/where do they buy?
I learned that business owners are more likely to select the products they want online or if they see something in a store they really connect with, but mostly they do all their picking online.  

Post-purchase:
What seems to matter most about the business owners when selecting items to sell is price, quality, and making sure the product will be appealing to customers. The main objective for business owners is pleasing their customers to make sure they stay in business. They would be willing to sell a leather alternative if they believe their customers will appreciate and buy it. The quality has to be in line with their standards and the price has to be acceptable. 

Interview:
I talked to the man who owns a small boutique in Fort Lauderdale and asked him what he thought of my product idea and if he would be willing to invest in a leather alternative. I talked with him about the different ways in which leather is bad for our environment and he showed some concern. He said it would be hard for him to switch over completely since his customers come for specific items and he might lose business, but he said he would be willing to incorporate the product into some of his items. The woman who is the manager of a department store said she thought my idea was really interesting but showed the same concern as the man I initially interviewed. Some customers might get upset about a changing product. The owner of the shoe store was very interested in the uniqueness of using fruit as a leather alternative and said she would be interested in using it for her handmade items, but said it might be difficult to sell to big corporations due to the societal norm of leather in products.

Conclusion:
All in all, this segment opened my eyes to different features and possibilities of the product. Over anything else, the faux leather needs to be perfect in order for people to consider it. I should go to a place that already sells a leather alternative and considers what can be improved on in terms of material, texture, and the product. If I have a product to compare to and improve on, it would make the product better.

14A – Halfway Reflection

1) What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 

The behaviors I have used to keep up with the requirements of this course are time management and being able to look for opportunities. I try to use my time wisely throughout this course by completing assignments throughout the week so they don't pile up and leave me stressed at the end of the week. Being able to look for opportunities everywhere is another behavior I use, and is something required to implement on almost every assignment.  

2) Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

A moment I felt like giving up was yesterday morning when I realized I had a four-hour drive home and a big paper to write that was due on Monday. The thought of driving from South Florida all the way to Gainesville was so exhausting and then having to immediately sit and write a paper as soon as I got home was so stressful to me. I weighed all my options and considered how I could make this the least stressful experience for me and decided I just had to get the paper done. I wrote half of it when I got home and then decided to leave the other half to finish in the morning in order to leave off some stress for myself. 

3) What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?

1. Reach out for help if you need it. Some things in this class were a little confusing to me in the beginning so I reached out to the professor, as well as fellow classmates. It helps to relate to other people going through the same thing and also get clarity on what you are confused about. 
2. Develop time management skills. There are a lot of assignments due for this class, which require a lot of time. I would say to complete at least one assignment or half of an assignment every day so that you don't get overwhelmed. You can also break up the lectures so it's not too much all at once. 
3. Developing the "tenacious mindset." This will allow you to stay motivated and working hard even when you have a lot on your plate. 

Reading Reflection No. 1

For this assignment, I read Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, Ashlee Vance

1) 

• What surprised you the most? What surprised me the most is how in depth they looked into the mind of Elon Musk. What surprised me is that he is considered slightly manic and not always completely put together like you would think such a successful person would be. I was also surprised at how openly he discussed dealing with stress and how he seems to not let it affect him too much. 
• What about the entrepreneur did you most admire? I admire the way Elon Musk has such a strong passion to limit the amount of oil we use on Earth and how conscious he is of making our technology more sustainable to reduce environmental impact. He seems to be so determined and motivated to succeed in the things he wants and has never shown any signs of his motivation slipping. He incorporated old-school Silicon Valley and combined it with the modern Apple-like design in order to create something that would be both sustainable and appealing. 
• What about the entrepreneur did you least admire? I don't like how Elon Musk seems to be arrogant. His passion and drive can come across as egotistical and he makes a lot of big promises that he might not always keep. His ideas seem to be a little too far fetched, and it makes me question his sanity a bit. He feels such a strong need to accomplish anything he thinks of that I don't know if he stops himself to consider if it is a good idea or not. He is too impulsive, but the impulsivity has attributed to his huge success. 
• Did the entrepreneur encounter adversity and failure? If so, what did they do about it? Elon Musk did encounter somewhat of a failure. He sold PayPal, and used the liquidity to start SpaceX. The startup forced him to go broke, and when he sold everything he had to live on couches. He scraped by until he was able to get a government contract and start Tesla. 

2) What competencies did you notice that the entrepreneur exhibited? The skills Musk is most competent in is his ability to keep moving forward. After losing all his money, he was able to push through and create one of the biggest companies in the world. He is really good at not letting his downfalls get the best of him, which keeps him moving forward.

3) Identify at least one part of the reading that was confusing to you. One part of the reading that was confusing for me was his talk about SpaceX. I don't really understand why he went into that business and was confused when they discussed it in the book. It seemed like a huge dream idea he made up in his head and decided to try it in real life. I was also confused about the interviewing process of the book and how they seemed to incorporate both interviews with non-fiction content. 

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why? I would ask Elon Musk how he stays confident and motivated and I would also ask him what he does in his free time when he's not focused on business. 

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion? Elon Musk would probably consider hard work both extremely important but also I feel that he likes to get things done as easily as possible. He works extremely hard himself, but he tends to accomplish things very quickly. If this is his opinion, I would share the same exact opinion. 

Figuring Out Buyer Behavior No. 1

Segment: 
I chose a segment of established business leaders. All three of my interviews were with people who own a business. One is a man who owns a small boutique in Fort Lauderdale and has had several successes and failures in his business ownership. Another is a woman who has been the manager of a department store for six years. The third is the owner of a shoe store in Gainesville, who sells her own handmade products, along with a variety of brands and styles.

Interview:
I talked to the man who owns a small boutique in Fort Lauderdale and asked him what he thought of my product idea and if he would be willing to invest in a leather alternative. I talked with him about the different ways in which leather is bad for our environment and he showed some concern. He said it would be hard for him to switch over completely since his customers come for specific items and he might lose business, but he said he would be willing to incorporate the product into some of his items. The woman who is the manager of a department store said she thought my idea was really interesting but showed the same concern as the man I initially interviewed. Some customers might get upset about a changing product. The owner of the shoe store was very interested in the uniqueness of using fruit as a leather alternative and said she would be interested in using it for her handmade items, but said it might be difficult to sell to big corporations due to the societal norm of leather in products.

What I learned:
From conducting these interviews I learned that there was a lot of pushback to using faux leather due to the fear of customers now being interested. There was a common concern of the loss of customers since it is such a huge change for companies to switch over such a desired material. The demand for faux leather might not be that high because there are not a lot of people who are educated in the leather industry. I learned that people are really afraid of implementing new products into their business because they are fearful of losing sales. I do think the concern is valid because people, in general, don't like change, but with something so detrimental to our environment, I think people would be willing to buy a leather alternative if people were educated on the topic. 

How I would describe this segment:
I think that there are a lot of successful people who have thought about how to better their products and how to reach a broader audience. This segment would not necessarily switch over their whole business to being cruelty-free, but they would consider implementing the leather alternative. This segment does understand the purpose of the product and would consider using it, but they need some time to consider their target audience.