Final Reflection

1. Overall, this semester pushed me to my limits when it came to having to interview that many people. I found it difficult to connect to strangers since I work so much when I'm not working on school assignments. I did struggle with getting my assignments completed because of this a well. With that being said, I gained a lot of knowledge when it comes to planning and starting your vision. The only thing I really dreaded for this class was the noon deadlines. It's easier for me to get the full extension to midnight with my busy schedule. 

2. I think my most formative experience was having to network. As an introvert, it definitely pushed me out of my comfort zone. 

Years later I will remember the awkward video pitches we had to do.

My most joyous experience was being able to see a business plan through. I thought it was very insightful and I believe I'll be able to use that information for my future. 

I am most proud of myself for being able to finish reading 3 books within a semester. I am not much of a reader and it did take a lot of self motivation to actually get through. 

3.) I do believe I have some entrepreneur qualities, but I believe I may be better suited as a behind the scenes type. Something in accounting and reports like profit/losses for a business. I think I can develop the mindset overall, but I'm not sure if that's something I'd be fully happy with doing. I may be better with just supporting someone else and offering them what I can bring to the table. 

4.) I would recommend for them to take it seriously. Even though the exercises you're doing in class just seem like it's for a grade, you can actually gain a lot of knowledge on how to maneuver in this world. I would recommend they dedicate a little more time than other classes. For me I think that's where I messed up. If they are willing to put the work and effort in, I believe that's the start of the entrepreneurial mindset. 

Venture Concept No. 2

Opportunity:

My business will provide a service in which targets college students who have tobacco addictions. This is a major need, especially with students who decide to go to college outside of their hometown, because they no longer have easy access to their friends and family for support.

We have had significant impacts to our society with the COVID-19 and personally, I have dealt with issues with even being seen by a doctor. Many college students are turning to tobacco products to help reduce their anxiety and stress – and with COVID-19, they have to social distance, creating a gap between their current support system. We want to act as a bridge in which provides them the assistance they need to get well while quitting their tobacco addiction.

I believe this window of opportunity will always be available, because although the use of cigarettes have decreased, the use of e-cigarettes or vapes have increased. Since they are new to the market, many students still are not understanding the long term effects they will have on their body. Many believe they are not as harmful, because they are vaporized, but health complications such as “popcorn lungs” has become prominent.

Our goal is to not only provide services and products to help kick the tobacco addiction, but to also raise awareness of the burden these products will create in your life.

Innovation:

In order to provide service that is personalized to each individuals needs, we will begin with a questionnaire along the lines of- 

-          What tobacco products do you use?

-          When did you start using these products?

-          How often do you use these products?

-          Have you tried to stop before? What was the result?

-          Did someone in your family use tobacco products when you were growing up?

-          Do you or an immediate family member have any mental illnesses?

Based on the information provided, we will set up a plan in which addresses the best way to end their habit, while also ensuring they don’t need any additional help that’s beyond the tobacco use. You will get paired with an advisor whose sole focus is to ensure the plan is effective, and if not they will act accordingly. The advisors will be the customers main point of contact for the services which are listed below-

-          Provide nicotine patches/gum

-          Therapists

-          Group support

-          24/7 access to phone calls, emails, text messages etc. if you need to talk

-          List of affordable health programs

We are a non-profit organization which heavily relies on the support from our community. We will provide different rallies in order to raise money and we are also very dependent upon volunteers. These rallies will include fundraisers that will also raise awareness to our brand and service. 

We are looking for volunteers within the same demographic to our target customers, that way they are able to relate to one another easier. This business plan is a slow walk in the beginning until we are able to get more established.

In the future, we hope to have financial backing from companies such as CVS since they have also made the decision to become tobacco-less. We believe they will support us for having similar views and the same goal.  

Venture Concept:

My innovation will solve the opportunity, because it allows a customized plan in which will be most beneficial to our customer. For example, someone who smokes cigarettes out of stress will need a different plan of action for someone who says they just smoke when they are drunk. While one understands that they have an addiction, the other is not as aware. We must cater to each individuals persons needs in order to best suit them.

If we provide enough relevant information to our target customers, they will understand the harm they are causing to their body and will at least be interested in the next steps to quit. We understand that with our business, a key element is the customer actually wanting the service. “You can lead a horse to water, but you cannot force it to drink.” Although we will provide all of the services they need, they will also have to be a willing participant and understand why quitting will improve their life.

Our biggest competition would be Tobacco Free Florida. They are an anti-smoking organization based in Florida and also administered by the Florida Department of Health. They are a well-known company, but I think they lack the personal relationships. Although I see their commercials and their smoke free zones, I do not see them targeting this demographic. The commercials commonly reflect older individuals and the smoke free zones I have seen are at places like my job, which is a law firm and a bank – mainly individuals who are older.

Three Minor Elements:

1.       I think my most important resource will  be the support for the community.

2.       The next venture will include all drug addictions, not just tobacco.

3.       In the next five years I want to continue to help individuals in the community who do not have the same support and privilege as other people do.

Feedback of Summary:

I received positive feedback in which agreed to my point of the increased vape usage in young adults. I was given the idea to add fundraising as a way to raise more funds for my service. I do not believe right now I want to charge a small fee for services, especially with how the market is now. Many people are living paycheck to paycheck and no longer have the extra funds coming in from unemployment. I want to be able to help people and not have them worry about the costs of it. 

Changed Venture Concept: 

Not only will I expand to fundraisers, but I will also add something similar to an "exit interview." Once someone is finished with the program, I would like to know what they struggled with and if there would have been anything that could've helped them out during that time. I want to know how they were treated by the staff and if any changes needed to be made to ensure we are assisting them properly. 

Reading Reflection No. 3

1. The theme of How to Fail at Almost Everything and Still Win Big by Scott Adams is about embracing your failures. Scott Adams provides examples of failure from his life, but emphasizes the positive impact you can have if you're able to learn and understand your mistakes. This book is about being able to achieve success based on your past mistakes. The hard work and effort you put in will have a direct impact in how well you achieve your goals. 

2.) This connected and enhanced what I'm learning in ENT 3003, because both have provided real information about being an entrepreneur. I find it encouraging to know that failure is normal, and that you can make the best of it by learning from those decisions. It doesn't give you a sugarcoated, unrealistic image, which I think a lot of people try to sell you on. You may not get exactly what you expect, but you can turn that around for yourself. 

3.) Based on this book, I would design an exercise that provided a scenario and gave many different ways to react. Within this exercise, you will realize sometimes the option you think is the best - isn't. I think this will be an effective way to weigh out pros in cons. 

4.) My biggest surprise moment while reading this book was that goals are too vague. I have always been conditioned to set goals and whether they were short or long term. Scott Adams explained how systems are better since they can adapt to change. It's almost like a process you take and you have to decide which road you're going to take. With goals, if you take one wrong turn, you can just end up disappointed. 

Your Exit Strategy

1. In the next five years I intend to keep expanding my business. If this means selling this business to a buyer which has the same agenda I do, that's the option I will go with. My goal is to expand this business enough to where it can help many different types of people, not just one targeted group. I believe the business should go to someone who is just as passionate, if not more, about stopping tobacco and drug use. 

2. I have selected this exit strategy, because I think it would be what's best for the people who need the service. If another business professional can bring more value than I can, I believe it's what's ethically correct for the community. 

3.) I think my exit strategy has influenced other decisions I've made in my concept, because it's not about the profit. The opportunity is helping people that may not have the resources and support they need. It has influenced my growth intentions, because I realized there are more people that need the help. 

Celebrating Failure

1. I had a really rough semester. Between balancing a full time job while being a full time student, the pandemic and my mental health in general, I've been struggling to feel like myself. This has drastically impacted both my work and school performances. 

At work, I was having a difficult time with being present. I was so distant that everyone was concerned about the sudden disconnect. 
At school, I felt like I suddenly lost interest and had no desire to put my best foot forward. 

In both situations, I felt like I was content with the bare minimum. I failed at giving each opportunity I'm given the best effort. I tried to see a doctor for my mental health and get on prescription medication. I tried to set a new schedule for both work and school to get back on track. I tried reaching out to loved ones to let them know where I was at and see what advice they had to offer. 

There were many scenarios and different things I tried to get myself back to where I needed to be. 

2. I learned that nothing is permanent and change is imminent. I learned that in order to give other people my best self, I must be my best self to begin with. As cliche as it sounds, this pandemic has given me a lot of time to reflect on self care. I've gained healthier habits and I've also dropped toxic people out of my life. I've realized that who you are and what you surround yourself with has a big impact on how you go about executing your goals. 

3.) In general, I believe failure is necessary. It is hard, but it makes you appreciate when things are easy. There's this book, called "No Mud, No Lotus." This book explains the need for the nasty mud, aka struggle, that the lotus needs in order to grow into this beautiful flower. The author explains that the key to success is how you handle your suffering. You must be self aware, understanding and have patience for yourself. Personally, I internalize failure and it may be something that impacts me negatively. 

This class has also led me to believe that we need to learn from our failures. 

What’s Next?

Existing Market

Step 1: In terms of products and services for my next venture, I think it would be beneficial for my brand to start public speaking for middle and high schools. This will allow my demographic to expand, not only focusing on college students.

Step 2: I interviewed 3 customers and they all believe this will be beneficial for my brand, because it can provide knowledge to a younger group, in hopes that they will not get a tobacco addiction in their future.

Step 3: Based on my own expectations and feedback that I’ve received from customers; I believe it will be a slow start but it will eventually gain the momentum needed to become profitable.

We will start within our local community, focusing on college students who are struggling with a tobacco addiction. We will provide all the resources they need in order to help overcome this obstacle in their life and once we become well known, we will reach out to CVS, a tobacco-less company, for financial backing or donations.

At this point, we will be able to broaden our horizon and reach out to a younger demographic. We will have volunteers of people who have had and overcame a tobacco addiction in order to educate and answer any questions these kids may have. Our goal is to prevent any future tobacco addictions from happening.

New Market

Step 1: I believe we can enter a different, but at the same time similar, market by then focusing on young adults with drug addictions.

Step 2: My venture concept might be able to create a value for people in the market, because we are already familiar with personalized plans for each individual. Although we will probably have to have a medical expert employed, it would be worth it to help as many people as possible.

Step 3: I have interviewed 2 people who have/had struggled with drug addictions and they believe it will be beneficial, especially if it’s targeted towards young adults, because many people feel alone at this time. Our personalized plans will make them feel important and hopefully this will encourage them to want to help themselves.

Step 4: I thought this new market put a lot into perspective for me, because many people are seeking help and they are not necessarily getting the results that they hoped for. They feel like a burden or that they have already been given up on before they even begin. It surprised me how hand in hand tobacco use and drug use can be – not saying that everyone who uses tobacco also uses drugs, though. I think this will be a great expansion for my existing market.

Venture Concept No. 1

Opportunity:

My business will provide a service in which targets college students who have tobacco addictions. This is a major need, especially with students who decide to go to college outside of their hometown, because they no longer have easy access to their friends and family for support.

We have had significant impacts to our society with the COVID-19 and personally, I have dealt with issues with even being seen by a doctor. Many college students are turning to tobacco products to help reduce their anxiety and stress – and with COVID-19, they have to social distance, creating a gap between their current support system. We want to act as a bridge in which provides them the assistance they need to get well while quitting their tobacco addiction.

I believe this window of opportunity will always be available, because although the use of cigarettes have decreased, the use of e-cigarettes or vapes have increased. Since they are new to the market, many students still are not understanding the long term effects they will have on their body. Many believe they are not as harmful, because they are vaporized, but health complications such as “popcorn lungs” has become prominent.

Our goal is to not only provide services and products to help kick the tobacco addiction, but to also raise awareness of the burden these products will create in your life.

Innovation:

In order to provide service that is personalized to each individuals needs, we will begin with a questionnaire along the lines of-

-          What tobacco products do you use?

-          When did you start using these products?

-          How often do you use these products?

-          Have you tried to stop before? What was the result?

-          Did someone in your family use tobacco products when you were growing up?

-          Do you or an immediate family member have any mental illnesses?

Based on the information provided, we will set up a plan in which addresses the best way to end their habit, while also ensuring they don’t need any additional help that’s beyond the tobacco use. You will get paired with an advisor whose sole focus is to ensure the plan is effective, and if not they will act accordingly. The advisors will be the customers main point of contact for the services which are listed below-

-          Provide nicotine patches/gum

-          Therapists

-          Group support

-          24/7 access to phone calls, emails, text messages etc. if you need to talk

-          List of affordable health programs

We are a non-profit organization which heavily relies on the support from our community. We will provide different rallies in order to raise money and we are also very dependent upon volunteers. We are looking for volunteers within the same demographic to our target customers, that way they are able to relate to one another easier. This business plan is a slow walk in the beginning until we are able to get more established.

In the future, we hope to have financial backing from companies such as CVS since they have also made the decision to become tobacco-less. We believe they will support us for having similar views and the same goal.  

Venture Concept:

My innovation will solve the opportunity, because it allows a customized plan in which will be most beneficial to our customer. For example, someone who smokes cigarettes out of stress will need a different plan of action for someone who says they just smoke when they are drunk. While one understands that they have an addiction, the other is not as aware. We must cater to each individuals persons needs in order to best suit them.

If we provide enough relevant information to our target customers, they will understand the harm they are causing to their body and will at least be interested in the next steps to quit. We understand that with our business, a key element is the customer actually wanting the service. “You can lead a horse to water, but you cannot force it to drink.” Although we will provide all of the services they need, they will also have to be a willing participant and understand why quitting will improve their life.

Our biggest competition would be Tobacco Free Florida. They are an anti-smoking organization based in Florida and also administered by the Florida Department of Health. They are a well-known company, but I think they lack the personal relationships. Although I see their commercials and their smoke free zones, I do not see them targeting this demographic. The commercials commonly reflect older individuals and the smoke free zones I have seen are at places like my job, which is a law firm and a bank – mainly individuals who are older.

Three Minor Elements:

1.       I think my most important resource will  be the support for the community.

2.       The next venture will include all drug addictions, not just tobacco.

3.       In the next five years I want to continue to help individuals in the community who do not have the same support and privilege as other people do.