Final Reflection

Experiences: I think the assignments that left a lasting impression with me were the Portmanwho? assignment and the Bug List assignment. I had a lot of fun with both of these and I think the reason that I enjoyed them was because I was basically given the opportunity to complain about all of the little things that inwardly bother me every day for one and the other I was given complete creative flexibility to create a new word. I thoroughly enjoyed both assignments, and I can proudly say that I know my family (at least, I haven’t checked in with anyone else) is still using Queception!

Mindset: I definitely think that I have further developed my entrepreneurial mindset. I think that being a part of the Innovation Academy gave me a great head start on developing this way of thinking, but this class has definitely refined it. Even if I never get around to actually completing this venture, I do see myself as an entrepreneur.

Recommendation: If I were to give future students one recommendation, it would be to start early and be aware of your surroundings. Read the schedule early, find your books early, start and complete the assignments early, etc. I also would highly recommend trying to be fully aware of everything around you. Things that bother you, things you hear others complain about, things you complain about, things you take notice of, literally anything. Just be aware of it. I feel like half the time we just go through the motions of complaining or noticing a trend and then we just let it slip away. In the past three hours alone I have complained about slow drivers in the fast lane, people rubber-necking at a crash and backing up traffic even more, and the lines at Walmart being tremendously long. All of these moments are opportunities. The key is to actually notice when you are complaining or when you see a trend, and then take a moment to think if it is an opportunity you could or would want to possibly pursue. If it’s something you happen to be passionate about, go for it!

Reading Reflection No. 3

“The Art of Social Media: Power Tips for Power Users”

By Guy Kawasaki and Peg Fitzpatrick

This book contained 100 and something tips about how to successfully use social media as well as how not to use social media. It actually connected with what we are learning in this class a lot. We are running our own blog for this class, and there was a lot of helpful tips in the book to keep a successful blog running. In addition to this, I think the book serves as a perfect tool for all entrepreneurs as it is imperative in today’s day and age to have a strong social media presence when trying to be successful with a new product or business.

If I had to design an exercise for this class based on this book, I would probably have students recognize their venture’s largest competitor and research how that company uses social media. I would have them describe what they think the company is doing successfully based on the tips provided in the book, as well as how they think the company could improve their social media use. I would then have the students come up with their own social media strategy. I would ask them what they would do the same as their largest competitor, what they would do differently, and why.

The biggest surprise or ‘aha’ moment that I encountered was probably using Google+ as a social media tool. Google+ is not something that I ever really considered as a social media platform, and it is not something that I have used in the past to connect with others other than creating the blog for this class, which is why that kind of surprised me. I never would have even thought to use it as another platform to reach more people.

Venture Concept No. 2

Opportunity

The opportunity at hand is a lack of functional rain gear that is designed to keep both you, and your stuff, dry. The products that are currently on the market usually meet customer needs to stay dry, but there are only a few products on the market that are designed to keep your stuff dry, which is where the opportunity lies.

The market for these products will always be there because the force that is creating the opportunity will always be there – weather. Weather is an unavoidable part of our daily lives, and as such there will always be a need for products that can functionally be used for various parts of our daily lives.

The market is defined geographically by weather, as there is a larger market in areas that receive more rainfall annually. Demographically the market appeals towards people who are regularly exposed to the elements, such as hikers or people who walk/bike to work/class.

The most common way that customers are trying to satisfy this need is by using multiple different products in ways that they were not intended to be used. An example of this would be using two raincoats, one for the customer to wear and one to wrap around whatever it is that you are trying to keep dry. Another way is by using one of the few products that are currently on the market designed just for this, but many are very use-specific and as a result still fail to completely meet the customer’s needs. Because of this, the customer loyalty is not very strong.

The opportunity here is tremendous. The market for waterproof textiles is expected to reach $2.18 billion by 2022, and I believe that the window of opportunity will be open for a while. This need is often overlooked because people have been coping with it for so long that they don’t even think about how to solve it.

Innovation

The PackSaver Raincoat is a raincoat for you and your backpack. An added area in the back of the raincoat allows customers to wear the raincoat over their backpack. When not in use, the pleated sides of the backpack area can be folded in and Velcro-ed shut so that it lies flat with the rest of the raincoat. The backpack area also includes as an interior pocket flap, allowing wearers to keep items dry even when they are not carrying a backpack. The Quick-Dry interior lining helps to wick away moisture for those times when you didn’t get your raincoat on fast enough before it started raining. This feature also helps to decrease overall coat drying time by absorbing some of the leftover water from the outer shell if you roll the coat up after use.

Additional Features include:

• Waterproof breathable outer shell
• Quick-Dry interior lining
• Reinforced seams
• Flexible, detachable visor at the top of the hood to help keep your face from getting wet
• Hidden drawcord system on hood
• Velcro flap over zipper
• 2 zippered front pockets
• 1 interior front chest pocket
• Adjustable Velcro cuff tabs

There are many different color options available to best fit the customer’s wants and needs. The PackSaver would also be available in an insulated option if they are looking for something with added warmth for cold rainy days. The regular PackSaver raincoat retails for $70, and the insulated version retails for $90.

Venture Concept

The PackSaver raincoat addresses the lack of functional rain gear available that keeps both you and your stuff dry. I think that customers will want to buy this because many people have experienced this problem before and have been in a situation in which they end up having to sacrifice themselves or their stuff to keep the other dry. I think customers will be willing to switch because PackSaver can be converted into a normal raincoat, so there is only added benefit with this product. Because of this I think that it will be fairly easy to get customers to switch.

The main competitors would probably be North Face and Columbia. I think their biggest weakness or vulnerability would be their prices. Both sell high quality outdoor wear but at a very high price, and while I want my product to be on the same level of quality as theirs, I think that there are cost saving methods that I could employ in various aspects of business that would allow me to sell my product at a more reasonable price, giving me an advantage. Another competitor would be the Packa, which is a product similar to mine but is designed specifically for hikers with very large hiking backpacks, however it too is very expensive and it does not have any of the design features that my product will have.

Minor Elements

I think the most important resource for PackSaver will be design. It is a completely new design for a raincoat and because there is nothing out there that has even a remotely similar design, I will probably look into getting a design patent. This will make it a lot more difficult for competitors to copy my success.

I think the next thing for this venture would be expanding the product line as well as continuous innovation as feedback from actual customers comes in. If I were to actually launch this, I would like to see it become a household name for outdoor gear and have several other products on the shelves within the next 5 years. I think starting something like this on the side would definitely help me achieve my vision as it would prove that I can take one of the many ideas in my head and turn it into a successful product and company, which would give me extremely valuable experience that I can apply elsewhere in my life. The problem with doing this however is juggling the management of the company while still in school. Because of this, another option that I might consider doing is pitching my product idea to a larger company after I obtain design patents. This would allow me the time to focus on my schoolwork while still getting my product out there on the shelves so that it can benefit others.

Feedback

All of the feedback that I received was positive. People really liked the concept and the features that I plan to offer. They thought that my product was reasonably priced as well, so that feedback was really nice to hear. I had one person mention that I should consider pitching my idea to a larger company such as NorthFace, which I added as an option I might consider for the future. 

My Exit Strategy

My exit strategy for this venture is to obtain design patents for my product and eventually pitch my venture to some of the existing companies out there in the hopes of either selling the rights to the design completely or coming to a deal that would allow them to use my design in exchange for a portion of each item sold. My plan is to do this sometime within the next 5 years. 

I have selected this particular exit strategy because as much as I would like to pursue this further, it is not something I would say I am truly passionate about. I think that selling the rights for a profit would be more beneficial to me in the long run because the money that I make from this would allow me to pursue a venture that I am more passionate about or at least help me to pay off some of my student debt.

I don't think my exit strategy has had all that much influence on the decisions that I've made throughout this venture. I am a perfectionist and a people pleaser, so I've tried to explore every suggestion that has been made to me as well as every opportunity related to my product that has presented itself. I think the one decision that my exit strategy has affected is which product I chose to stick with. I originally had 3 different product ideas that were all related, and I think that if I knew this was something that I planned to stick with and not sell, I probably would have kept the other two around as possible product ideas in the future. But since I knew that this was something I would likely be selling, I instead chose to focus my attention on the raincoat and only made notes about the others in case I ever decided to return to them. 

Making It Real

https://docs.google.com/document/d/16-qcALXzsJCtSxANzvbllcWCCtPugLIaB8drUnx-q_E/edit?usp=sharing

Celebrating Failure

I think my biggest failure this semester was in my finance class. I knew from the beginning that the class is basically set up to fail you (40% midterm, 60% final, EC only counts if your end grade is below a 70% at the end of the course, normal grading curve), and on top of that this is the first time this teacher is teaching the course at UF so all the old exams given as practice tests are only helpful to a certain point because of differences between this professor and the previous one. It was very difficult to keep up with, and I often found myself several times throughout the semester behind on lectures and trying to keep up. Now I’m in a position where if I don’t get a 75% on the next exam I will likely have to retake the class (the average on the first exam was a 51%, so a 75% is a lot harder than it sounds). I think what made it even more frustrating was the fact that it’s a subject that I likely won’t be using very often professionally.

What I learned from this failure was that often times people and things will be going against you because they don’t want you to succeed. Life works the same way as my finance class. Just like this class is set up in a way to fail people that don’t put in enough effort or who just aren’t very good at the subject, employers and businesses only want the best. So they’re going to push you and test you and compare you with others to make sure that you can meet their need for the very best. Starting a business or a venture concept is the same thing. People will try to end your idea or put you out of business because it’s a dog eat dog world.

I think failure is a part of life. We’ve all failed at something, nobody’s perfect. I think I personally handle all of my failures differently because they are different scenarios and should be treated as such. I may get emotional with some that I worked really hard for or get really frustrated when I was really close but didn’t quite make it. I think these are natural reactions that anyone could have to any situation but I think it’s how you handle failure that separates the people who eventually succeed from the people who eventually give up. You have to look at your failures and analyze what went wrong and why and figure out how to change it. You have to look at all the possibilities and decide which course of action should you take next. I think this class has showed me that great things can come directly from failure and I definitely think that I would be more likely to take a risk than I was four months ago.

Venture Concept No. 1

Opportunity

The opportunity at hand is a lack of functional rain gear that is designed to keep both you, and your stuff, dry. The products that are currently on the market usually meet customer needs to stay dry, but there are only a few products on the market that are designed to keep your stuff dry, which is where the opportunity lies.

The market for these products will always be there because the force that is creating the opportunity will always be there – weather. Weather is an unavoidable part of our daily lives, and as such there will always be a need for products that can functionally be used for various parts of our daily lives.

The market is defined geographically by weather, as there is a larger market in areas that receive more rainfall annually. Demographically the market appeals towards people who are regularly exposed to the elements, such as hikers or people who walk/bike to work/class.

The most common way that customers are trying to satisfy this need is by using multiple different products in ways that they were not intended to be used. An example of this would be using two raincoats, one for the customer to wear and one to wrap around whatever it is that you are trying to keep dry. Another way is by using one of the few products that are currently on the market designed just for this, but many are very use-specific and as a result still fail to completely meet the customer’s needs. Because of this, the customer loyalty is not very strong.

The opportunity here is tremendous. The market for waterproof textiles is expected to reach $2.18 billion by 2022, and I believe that the window of opportunity will be open for a while. This need is often overlooked because people have been coping with it for so long that they don’t even think about how to solve it.

Innovation

The PackSaver Raincoat is a raincoat for you and your backpack. An added area in the back of the raincoat allows customers to wear the raincoat over their backpack. When not in use, the pleated sides of the backpack area can be folded in and Velcro-ed shut so that it lies flat with the rest of the raincoat. The backpack area also includes as an interior pocket flap, allowing wearers to keep items dry even when they are not carrying a backpack. The Quick-Dry interior lining helps to wick away moisture for those times when you didn’t get your raincoat on fast enough before it started raining. This feature also helps to decrease overall coat drying time by absorbing some of the leftover water from the outer shell if you roll the coat up after use.

Additional Features include:

• Waterproof breathable outer shell
• Quick-Dry interior lining
• Reinforced seams
• Flexible, detachable visor at the top of the hood to help keep your face from getting wet
• Hidden drawcord system on hood
• Velcro flap over zipper
• 2 zippered front pockets
• 1 interior front chest pocket
• Adjustable Velcro cuff tabs

There are many different color options available to best fit the customer’s wants and needs. The PackSaver would also be available in an insulated option if they are looking for something with added warmth for cold rainy days. The regular PackSaver raincoat retails for $70, and the insulated version retails for $90.

Venture Concept

The PackSaver raincoat addresses the lack of functional rain gear available that keeps both you and your stuff dry. I think that customers will want to buy this because many people have experienced this problem before and have been in a situation in which they end up having to sacrifice themselves or their stuff to keep the other dry. I think customers will be willing to switch because PackSaver can be converted into a normal raincoat, so there is only added benefit with this product. Because of this I think that it will be fairly easy to get customers to switch.

The main competitors would probably be North Face and Columbia. I think their biggest weakness or vulnerability would be their prices. Both sell high quality outdoor wear but at a very high price, and while I want my product to be on the same level of quality as theirs, I think that there are cost saving methods that I could employ in various aspects of business that would allow me to sell my product at a more reasonable price, giving me an advantage. Another competitor would be the Packa, which is a product similar to mine but is designed specifically for hikers with very large hiking backpacks, however it too is very expensive and it does not have any of the design features that my product will have.

Minor Elements:

I think the most important resource for PackSaver will be design. It is a completely new design for a raincoat and because there is nothing out there that has even a remotely similar design, I will probably look into getting a design patent. This will make it a lot more difficult for competitors to copy my success.

I think the next thing for this venture would be expanding the product line as well as continuous innovation as feedback from actual customers comes in. If I were to actually launch this, I would like to see it become a household name for outdoor gear and have several other products on the shelves within the next 5 years. I think starting something like this on the side would definitely help me achieve my vision as it would prove that I can take one of the many ideas in my head and turn it into a successful product and company, which would give me extremely valuable experience that I can apply elsewhere in my life. 

Amazon Whisperer

Revenue drivers:

The products themselves (Packbrella, RainSaver raincoat, PackSaver Raincoat)

Different structural designs (RainSaver raincoat versus PackSaver raincoat, Packbrella versus regular umbrellas already on the market)

Different color options

Different weather options (regular raincoat versus winter option)

Patented designs

What’s next?

RainSaver Rain Boots of course! This will enhance my existing products because it adds to my already existing line of rain gear. It will increase user experience and foster customer loyalty as there are no other products on the market like it.

RainSaver Rain Boots: Many rain boots on the market today are great, but they are only waterproof for a certain amount of time. If you are standing in the pouring rain for 4 hours, your feet will be standing in an inch of water with the boots that are on the market now (true story). This is because over a sustained amount of time water starts to collect in the boot from the opening that you put your foot in. A brand new design will help to keep feet dryer in sustained rainy conditions. A gaiter at the top of the boot to help prevent water from getting in there in the first place and a rubber stopper in the calf that creates a seal against your leg to stop any drips that do get by the gaiter. A supportive arch in the bed of the foot ensures comfort for the wearer. Also available in fleece lined for those cold winter days, as well as short, average, or tall for the perfect boot height fit.

Similar Product:

Kamik Womens Jennifer Rain Boots

Price: $30-$75, depending on size and color

https://www.amazon.com/Kamik-Womens-Jennifer-Rain-Boot/product-reviews/B005DJ227C/ref=cm_cr_dp_qt_hist_three?ie=UTF8&filterByStar=three_star&showViewpoints=0

Pros:

·       Very sturdy/good quality

·       Good height for taller people

·       Stylish

·       Enough room in foot bed for thick socks

·       Made in Canada

·       Reasonable price

·       Light in weight

Cons:

·       tight calf

·       no room in calf area to tuck in pants

·       hard to put on

·       boot scratches easily

·       too tall for short people

·       ordered up in size to avoid tight calf, boot then had a very large calf and rain was easily able to get in them

·       not comfortable, rubber too hard

·       not warm

·       too tight in the top of the foot

My Unfair Advantage

 I really like numbers so I created a numbering system to rate each aspect of VRIN:

1.     Strategic thinker

-        Valuable:                    extremely (5)

-        Rare:                          yes (4)

-        Inimitable:                  fairly difficult (4)

-        Non-Substitutable:     yes (2)

VRIN: 15

As a strategic thinker, I can easily see patterns that others do not. I analyze different scenarios and often ask “what if ?” This is extremey valuable because it allows me to see patterns in data that others do not, such as customer buying trends, patterns in data that show hidden opportunities, or even hidden obstacles or upcoming slumps in certain markets. This would give me a huge competitive advantage in the business world. It is rare because it is a distinct way of thinking and not a skill that can be taught, which is why it is also non-substitutable and fairly difficult to be copied by others. The only way other businesses could copy this resource is to hire someone else who also is a highly strategic thinker.

2.     Creativity

-        Valuable:                      extremely (5)

-        Rare:                           yes (3)

-        Inimitable:                   fairly difficult (4)

-        Non-Substitutable:     yes (2)

VRIN:  14

I am an extremely creative person and I am constantly thinking of new products or inventions that I wish already existed. This is something extremely valuable because it means that I am constantly innovating and trying to improve upon the products that are already out there. This is rare because a lot of people just accept products for what they are and do not think about how they can be improved upon. This is fairly difficult to copy because everyone thinks in a unique way so my exact creative thinking cannot be exactly copied, which is also why it is non-substitutable.

3.     Detail oriented

-        Valuable:                     extremely (5)

-        Rare:                           yes (4)

-        Inimitable:                  average (3)

-        Non-Substitutable:     yes (2)

VRIN: 14

Being detail oriented is extremely valuable because it allows me to see a lot of different opportunities that others miss. Bringing this resource to a business would allow the business to take on opportunities that they previously didn’t even see. Rare because a lot of people don’t pay attention to the little details, or they do but never take the time to write them down so they can pursue them later. This is not a particularly difficult resource to copy, but everyone views the world differently and everyone interprets things differently, so what makes it of average difficulty to copy would be the way that I view things and how I interpret the different opportunities that I see. It is non-substitutable because a lot of the opportunities would have otherwise been missed.

4.     Knowledge of statistical software and data analytics software

-        Valuable:                           yes (4)

-        Rare:                                 yes (4)

-        Inimitable:                        fairly difficult (4)

-        Non-Substitutable:            no (1)

VRIN: 13

This kind of knowledge is definitely useful. It allows me to understand, analyze and interpret data that other people view as “just a bunch of numbers.” It can be useful in virtually any business venture because every business has some sort of data. It is also a rare skillset as it can be fairly difficult to master how to use the various software as well as use it practically. However, it is not non-substitutable because there are other resources and businesses out there that you can pay to analyze data for you.

5.     People Pleaser

-        Valuable:                           extremely (5)

-        Rare:                                 somewhat (3)

-        Inimitable:                        average (3)

-        Non-Substitutable:            yes (2)

VRIN: 13

Being a people pleaser means that I have a natural tendency to listen to the needs of others and try to meet them. In a business venture, this is extremely valuable because it means that I will naturally want to meet all the needs of my customers and genuinely care about what they think of my product/service. This is somewhat rare and of average difficulty to copy. Many businesses want to please their customers because it means more revenue for them, but few put customer happiness above incoming revenue. It is non-substitutable because no other resource can provide the same benefits as putting the needs of customers first.

6.     Entrepreneurial mindset

-        Valuable:                           yes (4)

-        Rare:                                 yes (4)

-        Inimitable:                        average (3)

-        Non-Substitutable:            no (1)

VRIN: 12

Having an entrepreneurial mindset is definitely valuable. It is also something that is rare, but it is becoming less so as more and more people are branching out and actually taking advantage of the various opportunities that they see. It is of average difficulty to copy, as you definitely have to change the way you think and view things around you. It is not non-substitutable however because there are other resources that can bring the same benefits.

7.     Problem solver

-        Valuable:                          extremely (5)

-        Rare:                                 eh (2)

-        Inimitable:                        fairly difficult (4)

-        Non-Substitutable:            no (1)

VRIN: 12

Being a problem solver means that I am quick to come up with solutions to fix a problem without relying on others to help. It can be extremely valuable to a business because it means that they don’t have to rely on outside companies to fix things or come up with solutions for issues that customers have with products. I would say that this isn’t really a very rare resource, but it is fairly difficult to copy as it is a skill that is usually refined over time based on someone’s own experiences, so everyone’s strategies for solving problems will be slightly different. I would say that it is not non-substitutable because companies can always pay others to fix things or come up with solutions to problems for them.

8.     Futuristic mindset

-        Valuable:                           somewhat (3)

-        Rare:                                 somewhat (3)

-        Inimitable:                        fairly difficult (4)

-        Non-Substitutable:            no (1)

VRIN: 11

Having a futuristic mindset is somewhat valuable. The value that it brings is not tangible, but having this sort of mindset means that I am a visionary. I can easily picture the end product right from the beginning, and I can connect goals that I know are years and years down the road to the small actions that I am doing now. This is what keeps me motivated, and it will often times motivate others as well. It is difficult to gauge how rare this mindset is, but from my own experience I have run into a few but not many people who tend to think in this way. It is fairly difficult to copy, as it is again a way of thinking and not a learned skill. However, it is not non-substitutable because other resources could provide the same motivation for myself as well as others.

9.      Microsoft Excel and Microsoft Access Certified

-        Valuable:                           yes (4)

-        Rare:                                 somewhat (3)

-        Inimitable:                        fairly easy (2)

-        Non-Substitutable:            no (1)

VRIN: 10

I would say that having these certifications are definitely valuable as it is a skillset that is somewhat rare. It is fairly easy to copy this skill set, as all it would require is classes and the certification tests, however these can be costly. It is not non-substitutable, as someone who is not certified could also easily possess the same level of proficiency that is required to pass the certification.

10.  Positivity

-        Valuable:                          extremely (5)

-        Rare:                                 somewhat (3)

-        Inimitable:                        easy (1)

-        Non-Substitutable:            no (1)

VRIN: 10

I think that having positivity is extremely valuable. Happiness and positivity in the workplace has been shown to greatly improve the efficiency of workers and as a result lead to increased sales (Zappos is a great example of this). I would say that it is somewhat rare because a lot of businesses overlook this and choose to focus on different aspects of the company. It is very easy to copy, but despite this many companies still do not create this kind of workplace culture. It is not non-substitutable, because the benefits of it (happier workers, increased sales) can also come from other resources.

Based on my ratings of VRIN, my top resource was strategic thinker. I think this is the most important because it is an umbrella resource. Without it, I would likely not be very good at analyzing statistical data and I would be as much of a creative thinker because I wouldn’t be asking “what if” all the time. It goes hand in hand with being detail oriented and gives me the opportunity to take advantage of data patterns and trends that others do not see.  

Reading Reflection No. 2

How to Fail at Everything and Still Win Big by Scott Adams

1.     What is the general theme of the book?

The general theme was about failure and how to accept failure and use it in a way to benefit you. One of biggest things that he talked about was having systems instead of goals. Thinking and acting in a way that requires you to do things on a daily basis leads to more success than having long term goals not connected to the present.

2.     How did this book in your opinion connect with and enhance what you are learning in ENT 3003?

The first thing that I saw a connection with between the book and this class was on failure. Many of us, including myself, have changed our main product/idea over the course of the past 8 weeks. Maybe it was because we simply didn’t like it or weren’t motivated enough to work with it or because we realized that it wasn’t doable. But this was a failure. Which is great! Because we learned something from what we did wrong or what was wrong with the product and we moved on to something else. Something else that I saw a connection with was that Adams wrote about how having a lot of energy or a sense of humor can go a long way in being a successful entrepreneur. It can make or break a product or presentation, and your energy and enthusiasm can often bridge the gap between the product and the people you are trying to sell it to.

3.     If you had to design an exercise for this class, based on the book you read, what would it be?

I have always been a big fan of the power of creative thinking. The author mentioned an experience he had when two completely unrelated thoughts came together in his head to create a new idea. This reminded me of an exercise that I did at a club meeting one time. We had to create a business or a product with some team members based off of 2-3 random words that we were given, but we only had about 5-7 minutes to do it before presenting it. So if I were to design an exercise for this class I would probably do something along the lines of this. I would require students to use a random noun generator online (and include a screen shot of the words that the generator came up with), and come up with a detailed product or business (no matter how silly or random or unlikely it may be) and write several paragraphs about it. The point of the exercise would be to encourage students to think outside of the box and really stretch their creativity. It would also be a good lesson on failure and how coming up with really crazy and outlandish products/businesses that would never succeed can lead to other ideas that could actually be very successful.

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?

I think my ‘aha’ moment came when I read the line about a system versus a goal: “A goal is a specific objective that you either achieve or don’t sometime in the future. A system is something you do on a regular basis that increases your odds of happiness in the long run. If you do something every day, it’s a system. If you’re waiting to achieve it someday in the future, it’s a goal.” This really stood out to me. I feel like I’ve always been told to set goals and then work towards them. But this was such a different way of looking at the big picture of success. A goal is something you are waiting to achieve. If you create a systematic way to achieve that goal, then you become someone who is actually achieving your goal.

Idea Napkin No. 2

1.     Me: My name is Briana and I am in the Innovation Academy here at UF and will be a senior with the completion of this summer semester. I am studying Information Systems and Operations Management and will also be receiving a minor in Innovation when I graduate. I am a very creative person who has a knack for thinking outside the box. I have also been told that I am a very good writer. I have experience in data analytics and decision analysis as well as some basic programming knowledge. I am certified in both Microsoft Access and Microsoft Excel. Despite how hard it is to break into the business, I want to eventually work in the sports industry doing data and player analytics. I could see myself trying to start this business concept. I’ve heard from several people that would buy the product and they definitely agree that there is a need for it, especially here in Florida because it rains so much. However, I do think over time it would definitely become more of a side project. My true passion is in sports and statistics.

2.     The What: The products that I am offering is a line of new and improved rain gear by a new rain gear company called RainSaver:

The Packbrella is an umbrella for your backpack. It would attach at the top of the arm loops in the backpack and would come down over the backpack almost like a turtle shell or one of those baby stroller shades. Just hook it on before you leave if you think there is a chance it might rain, and when you’re ready to use it simply press the button on the side and voila! Your stuff will now stay dry. Would be available in regular as well as large for use with hiking packs.

The RainSaver Raincoat is an improvement on the traditional raincoat out there that keeps your face from getting wet with the addition of flexible, detachable visor at the top of the hood. Made with a waterproof outer shell and Quick-Dry material on the inside to help keep you dry and reduce overall drying time. It would also be available in a winter option that would come with an added layer of insulation for those cold rainy days.

The PackSaver Raincoat is a raincoat for you and your backpack. It would be just like the RainSaver Raincoat described above, but would have added room in the back so that you could wear it over your backpack. The added backpack area when not in use folds in like the sides of a folded paper bag and then can be Velcro-ed to stay shut so that it can still be used as a normal raincoat. Also available as insulated.

3.     The Who: The target market is anyone who does not enjoy themselves or their stuff getting wet when it rains. I think it would be best to focus on marketing to areas of the country that receive large amounts of rainfall, such as the Pacific Northwest, the Eastern Coastline, and the Southeast. From there, I think the 3 main sub-markets to target would be: college students who walk to class; people living in condensed areas such as New York City as many of them often walk at least part of the way to work; and finally travelers/hikers due to their need to carry a lot of stuff while susceptible to weather conditions.

4.     The Why: Many of the products that are currently out there fail to keep us completely dry. Use an umbrella and you still get wet. Use a rain coat and not only can you not see with the rain pounding in your face, but you still get wet. And what’s worse is that there are virtually no products on the market designed to keep your stuff dry.

So let’s take a look at a scenario: Let’s say you’re walking to work (because you obviously care about the environment and want to cut down on carbon emissions), and out of nowhere it starts pouring (like it often does in Florida), and all you have is an ordinary raincoat. You have to then make the split second decision to either heroically give up your raincoat to save your laptop (which has on it the only copy of your plan to rule the world), OR you can choose to keep yourself somewhat-not really dry while wearing the raincoat like it was meant to be worn. So what do you do?!

Well, that’s where RainSaver come in. With RainSaver rain gear, you no longer have to choose between keeping yourself dry or keeping your stuff dry. So not only is your stuff now staying dry, but you will as well. And RainSaver products are guaranteed to keep you dryer than ordinary rain gear with their new innovative design.

5.     Core Competencies: The first thing that sets me apart is the fact that a backpack umbrella does not currently exist on the market. The second thing is design and innovation. The improved design and added features to keep your face and your stuff from getting wet set the RainSaver raincoat line apart from those that are already out there on the market.

6.     Evaluation: I think that with all of these elements, along with constant innovation and improvement, could actually be successful. You have your Northfaces and Columbia’s that produce top notch outdoor gear, but not a single one of them has thought of these design changes or ideas. None of them think to ever change the actual design of what has become standard. Instead they focus on innovations in material and quality. That’s what makes these products actually stand out. And by producing them efficiently and using innovations in production can help to cut costs while still making products of top notch quality to compete with the outdoor retailers already out there.

7.     Feedback Memo: One thing that I added was a target market of the Pacific Northwest. As someone had pointed out to me, they get a lot of rain there as well and my products would likely do very well in the area. Someone had also given me the idea of trying to incorporate quick drying material (similar to that of sports jerseys) into my products so included that as well.

My Customer's Avatar

Gender: female
Age: 26
Bachelor's Degree
Boulder, Colorado
Settling into the professional world, but does not let it get in the way of her adventurous lifestyle. Regularly goes hiking with her dog and occasionally with friends when their schedules line up. Also enjoys rock climbing, white water rafting, and weekend camping trips. Very eco-conscious. Owns a Nissan Leaf but prefers to bike to work for the exercise. Her favorite TV shows are Game of Thrones and New Girl, but also secretly loves the HGTV channel. Currently renting an apartment but is saving up to buy a house in the area. Reluctant Hilary supporter because of Trump's stance on the environment.

Gender: male
Age: 21
Senior at University of Florida
Enjoying college life to the fullest. Walks to class everyday from the frat house he lives in. Owns a BMW Z4 that daddy bought for him, but can't drive it to class because there's never parking on campus. Currently on his second laptop courtesy of the flash thunderstorms common in Florida (he was playing DJ at a tailgate). Loves going to the gym with his bros to work out and get swole. Enjoys bringing all his hot dates to Lake Wauberg to impress them with his kayaking and paddle boarding skills. Favorite TV show is Blue Mountain State. Hates both main candidates because only [insert racist frat here] supports racists like Trump and he ain't gonna vote for no FBI subject either yo.


Commonalities:
Age (21)
Senior (almost, will be at the end of the summer) at UF
Walks to class because of parking issues
Enjoys extreme sports
Favorite TV show is New Girl
Voting third party because I don't like either of the main candidates

I do not think these commonalities are coincidental at all. A lot of ideas and innovations stem from problems that we experience in our own daily lives, so in a way WE AS ENTREPRENEURS are a prototypical customer of our product. We see ourselves in these avatars because the average customer should share similarities with us. If they truly need the product or service they too would have already or will in the future come across the same problem as we did.

Halfway Reflection

This class has put me way outside of my comfort zone. I have never written a blog before, and I’ve always struggled to keep up with online classes. I had to be proactive, as many of the assignments for this course had to be started well in advance of their due date. At the beginning of the semester, I went through and looked at all the assignments and put all of the due dates in the calendar on my phone as well as on my laptop. I think doing so definitely helped me to keep up with all of the requirements for the course.

I definitely felt like I wanted to give up straight from the beginning. A lot of the assignments are very intimidating, especially the ones that involving interviewing multiple people for 10-15 minutes. I’m an introvert and I hate small talk and I hate networking because it makes me feel uncomfortable. Doing those interviews or even getting in front of a camera for an elevator pitch for an invisible online audience is scary. And no matter how many times I do those interviews they always feel fake and cumbersome. Obviously I did not give up as I am still here posting, but it’s hard to say that anything has really pulled me through when I am still here struggling with those assignments. But that’s just how I am, and there really isn’t any “getting over it.” There’s only doing and moving on. If there was anything that did pulled me through, it would be the knowledge that I need a good grade in this class to outweigh the C I will likely be getting in Finance this semester. Yay for professors who are trying to fail you! (not).

I feel like I have always been a very tenacious person, as I tend to be very head strong and once I set my mind to something I usually see it through. But I would say this class has actually made it harder for me to keep that attitude and mindset just because of how far outside my comfort zone many of the assignments are. This class is very hands on despite it being an online class, which is awesome but it is a very different style of learning and it definitely takes some time to get used to.

If I were offer three tips to next semester students, they would be:

1.     Be proactive! Read all the assignments during syllabus week, start well in advance on the ones that will take a while, and find the books you want to read at your local library as soon as you get the reading list and put the ones not available yet on hold.

2.     Think futuristic! To get into that tenacious mindset, think about how your actions now affect your future. And not necessarily just your grades or GPA at the end of the semester, think about how doing well in this class will allow you to graduate, and the skills you learn will be the deciding factor to that dream job you want.

3.     Start with friends and family. The easiest people to interview will be your friends and family as they are much less likely to judge you and can help you get over social anxiety. Even if they don’t fit the segment or target market you need to interview for the assignment, I would suggest to interview them anyways. Doing so will give you more practice and will help you when approaching strangers to interview.