Assignment 24A: Venture Concept No.1 (Daily Diagnostic)

• Opportunity:
• Until recent years, society has associated the words "health" and "healthy" to one simply just not having an illness or being sick. Health has taken a whole new meaning now as people associate health with not only being free from illness but connecting the mind and body and being the best self you can be. The global market for health/wellness has been growing rapidly in the past few years and, according to Euromonitor International, has reached $686 billion in the year 2016.
• The doctors office always take longer than you actually think they will. By the time it takes to get there, check-in, wait in the waiting room, have the nurse take your vitals, wait for the doctor, have the doctor examine you, check out, drive to the nearest pharmacy and wait 10-15 minutes at the pharmacy it feels like your whole day is gone. It is not actually the doctor visit itself but the whole process that takes so long. In fact, Medscape released a report that stated typical doctor-patient time is only 13 minutes long. 
• The need is for people to be able to know their levels of vitamins/nutrients in a timely manner and not need to make a lengthy/expensive visit to the doctor's office. Currently, customers simply do their research online and take what they think they need not what they actually need. This need has not been satisfied in a way of prevention. People often wait until they are at their absolute worst to go to their doctors and often it is something that could be preventable.
• Potential Customers: multigenerational households, university owned buildings, millennials willing to pay (in general, people who wish to maximize their health)
• 
  
• Innovation:
• For both individuals and colleges, I will sell toilets that will be advertised as personal performance identifiers and health monitors because that is what is unique to the toilet. This product will analyze your urine after you urinate and give you an electronical list on a screen of various things you are deficient in. This product is a fast and easy way for people to monitor their health and be more proactive about their body. The way I see my product is there being a sensor that will detect when you urinate. Once this sensor is triggered, the toilet will open a compartment or simply extract a sample to analyze. Once it is finished analyzing, the toilet will dispose of it down the pipe as a toilet normally would dispel of its contents. I am selling a toilet along with a scanner and screen for between $400-$500 depending on how advanced the technology is. In general, a good quality toilet is between $200-$300 so if I would have to estimate I would add a couple hundred on that for the screen and scanner.
• For families, I would also like to include a downloadable app that will notify parents of their children results. This way, parents can keep track of their child's health without being a super helicopter parent.
• Venture Concept:
• Customers will buy my innovation simply because it will save them time and money in the future. They will switch because this is a more efficient process due to the fact that they are doing something they do everyday, the bathroom. They don't have to change their routine, thus, making it easily adaptable to their lifestyle. Customers will also buy this products so they don't constantly waste money on vitamins/nutrients their body is not deficient in.
• The competitors include businesses where people have to send in their "sample" of saliva or  urine to get tests that can take weeks to come back.  In today's society, people seem to have an obsession with quickness. It is always "I want it now" or "I don't have time for that". My product will give you the results at that moment so there is no waiting or handling involved. 
• The price point must be perfectly balanced as it cannot be too expensive so young millennials will be able to buy them. Although my main target segment is multigenerational households, millennials are the most willing to take initiative on healthy eating habits and wellness experiences (Nielsen). I believe that influencer marketing is one reason behind this. This online community has created a space where people can share recipes, wellness tips and healthy habits as well as products that fall within this category. This information can be quickly shared with millions of people. I think this is something I should take into consideration with the distribution of my product to millennials who use social media frequently.
• Unfair Advantage:
• Never underestimate the power of social media. After reading "The Art of Social Media" by Guy Kawasaki, I truly realize the importance of your brand's reputation/consistency on social media. My familiarity with social media and the knowledge that I gained from reading this book will definitely help me jump start my business. 
• What's Next:
• My goal for this product is not to ruin physician's careers but rather reduce the amount of visits that can be easily solved and prevented with my product. I could easily add a different product category of powders that change colors for the most common vitamin/nutrient deficiencies.
• For Me:
• I want to continue to promote healthy lifestyles and being proactive about the state of your wellbeing. If this product is scientifically feasible, I would look forward to creating a health brand out of this. One day, I would hope to take it beyond just the toilet in order to promote healthy habits globally. 

Assignment 23A: Your Venture's Unfair Advantage

1. Time Management:

• Valuable: This is valuable as it will allow me to focus more on my product and get things done in a more efficient manner.
• Rare: I don't think this is rare at all but it does take a lot of patience and time management skills to open up and run a company.
• Inimitable: It is individualistic in nature and changes from person to person but yes it can be imitated.
• Non-Substitutable: I could probably find someone who has these skills as well and hire them but that would just be extra money spent.

2. Top 10 Public University:

• Valuable: I do think this is valuable as investors will look at me differently from coming from a top 10 public university. Also gives me many great networking opportunities and helps me gain respect.
• Rare: Since it is top ten, there is only a certain percentile of individuals that attend these universities.
• Inimitable: The other competitors in top 10 can easily compete and imitate the qualities but outside competitors cannot.
• Non-Substitutable: Attending a top university is not substitutable.

3. Social Media Presence/Awareness:

• Valuable: Having a interactive/reputable online presence is very valuable to companies as the online world is growing.
• Rare: Most companies have individuals who are smart about connecting through social media
• Inimitable: A lot of people my age would have experience of social media since it is the world we grew up in. 
• Non-Substitutable: I don't think this can be substituted to anything else effectively since it is so huge to have an online presence.

4. Passion for Health:

• Valuable: I think the most important thing behind a product is your attitude so showing you have passion and enthusiasm for it is a must.
• Rare: With all these big businesses, it is hard to find people who do it because they love it and not solely for monetary or social gains
• Inimitable: It is hard to imitate being genuine and excited about something.
• Non-Substitutable: Since this is not my field of degree, then hiring someone who is could bring more passion?? depends on person 

5. Prototypical customer interviews:

• Valuable: Taking this class just brings me one step ahead from all the other hopeful entrepreneurs 
• Rare: I think this experience is rare, a typical class is not formatted like this, even at other schools
• Inimitable: It is hard to imitate these raw interviews and reflect on them as we do in this class
• Non-Substitutable: Could hire people to look at research data from other companies but this is the most raw and genuine way to receive feedback

6. Access to scientists/pharmacists:

• Valuable: Networking is HUGE with trying to create your own business
• Rare: Information is not rare but knowing someone can take you a huge step forward
• Inimitable: Information can be copied but the connection/relationship you have with someone cannot
• Non-Substitutable: Would cost money to get information elsewhere

7. Alumnae from my sorority:

• Valuable: Again making those connections and networking, you never know who knows who and where it can take you
• Rare: A lot of people in college have this connection, or connections through parents 
• Inimitable: No one can replicate my exact sisterhood but it is not a unique thing within greek life.
• Non-Substitutable: Could bu substitutable with a longer and harder route of getting to where you want to be

8. Customer service experience:

• Valuable: Helps me with my communication skills and handling conflict management
• Rare: No, a lot of people have held customer service positions
• Inimitable: Have to be in a stressful situation to really know how to handle it
• Non-Substitutable: Could be substitutable by people who have worked longer in this position or a higher one but would cost money to hire

9. Achiever Attitude:

• Valuable: My drive is very valuable as it brings me the energy to work long hours.
• Rare: I think it is pretty rare to find someone who has the mindset that they have to achieve something everyday no matter how small the achievement.
• Inimitable: This cannot be faked or copied as people just give up or have no drive anymore
• Non-Substitutable: This could definitely be substituted with a different attitude that will allow you to accomplish your goals as well.

10. Knowledge of Dr.Mercola:

• Valuable: My mom being the highest subscription/member of this website is valuable because he shows the latest health trends/products.
• Rare: While he is well-known, not a lot of people are aware of his website and all the things he does.
• Inimitable: Don't think there is another platform like this out there
• Non-Substitutable: Could be substituted by another general health/product website but nothing like the community that is built on his.

• After conducting the VRIN analysis, determine what your top resource is. Explain why it's more important to your venture than all of the other resources.

Honestly, after a lot of thought I think my top resource is having a social media presence. It is very important to creating a brand and opening up a business as you have to get the word out and connect with people. These connections will allow the sharing of your content hence spreading the word of your product.

Assignment 22A: Elevator Pitch No. 3

Here is my 3rd elevator pitch:  https://youtu.be/DFQOqW4GmOI




2) A reflection on the feedback you received from your last pitch.

The feedback of three comments that I got were all positive. They were all impressed by how I took the time to reflect on my last elevator pitch and said they could really see the changes in the latest one. Specifically, they all could tell that my voice definitely was stronger and more confident which is something I wanted to change.

3) What did you change, based on the feedback?

It is becoming way more comfortable to speak in front of the camera and not feel awkward. The comfortability of being in front of a camera is definitely affecting the way I speak and present myself. After watching all three in a row, I can really tell a change in my confidence and my demeanor. I did not really change anything in specific as I didn't have an critiques in my feedback; however, I am practicing in becoming a better public speaker. I am using this as an opportunity to improve my storytelling skills to really connect with my audience. I changed my hook just a little bit. I wanted to see what else I could come up with.

Assignment 21A: Reading Reflection No.2

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

This book was all about how you could "rock" social media whether that be your personal account or your business/organization's account. It gave you tips and tricks on how to gain people's attention and the right ways to do it. 

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

In ENT3003, we are learning the stepping stones for creating our own business. This book talks about how businesses can make their brand more consistent among all the different types of social media and how to put out content that will be re-shared by anyone with an account. I believe this is important because when you first start out with a small business you want to get your idea out there and what better way to do that than the constant sharing and connecting of social media. I found some very useful examples from the book that I would like to share:

• "Your picture is your social media logo." Keep your profile picture consistent among all your social media accounts so you can be easily recognizable 
• Think "Will people reshare this post"
• "Seize the (Holi)Day" Time your posts with holidays or include in your initial phrase/title the holiday
• Pick a short hashtag and add share buttons 

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

The exercise would be to create your own social media account whether that be Facebook, Twitter, or Instagram based on the product/business you are creating for the class. This would include all the key points from the book and would help you practice how to run a business social media. This assignment would have you post or reshare 3 different things in the nature that the book talks about. The resharing must be something similar to your product but also something that would catch your followers (or just anyones) attention.

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 wouldn't call this an 'aha' moment but it was definitely something I was surprised about since I didn't know it existed. There are services that can automatically distribute your posts at certain times of the day whenever you want it to so you don't have to manually go in and do it yourself. This is perfect for people who love planning and have busy days where they don't have time for real-time posting. Some services that can do this for you are Buffer, Do Share, Friends + Me, Hootsuite, Post Planner, and Sprout Social. All these services optimize your time and sharing. 

Assignment 20A: Growing Your Social Capital

Domain Expert: Julia Haber with Wayv

Who they are, what their background is:
I decided to choose an entrepreneur that is around the same age as me and would most likely have a similar mindset and style. Her name is Julia Haber and she runs a company called Wayv.

How this person is a “domain expert”:
I wouldn't say she is a domain expert because her company doesn't relate to mine. I would consider her someone I could relate to more (since she just graduated college) and that is why I wanted to talk to her.

How I found and contacted this person:
I direct messaged her on Instagram. She did not answer in time but luckily she posted a youtube video answering questions that were very similar to what I would ask about her. entrepreneurship process.

Nature of Exchange: What they did for me, what is the return expectation:
Since she did not respond, I could not really get advice specifically on my product. However, I did get amazing advice from the video which explained how she started up with being so young and finding the resources to do so.


How will including them enhance my ability to exploit an opportunity:
In the video, she gave advice on what to do now in college and then the transition phase from college to the real world. It was very comforting to see someone so young be able. to get the resources and do something she loves.

Market Expert: Nick's Dad with DNAforME

Who they are, what their background is:
Manfred Althammer is actually my roommates boyfriends dad. He owns a company that's called DNAforME that's currently only in Europe.

How this person is a “market expert”:
This business has people send in a swab of saliva to the company so they can run tests and give you a customized booklet that shows what vitamins/nutrients you are deficient in. There is an option to do a subscription service that gives you the certain vitamins you need monthly.

How I found and contacted this person:
I had my roommates boyfriend put me in contact with him. I had to use WhatsApp since he lives in Austria.

Nature of Exchange: What they did for me, what is the return expectation:
I explained my product idea and asked questions on whether he believes it is feasible or not since he is more aware of the science side of things. He does not speak English very well so there was a little bit of a language barrier where I couldn't really directly communicate what I wanted to.

How will including them enhance my ability to exploit an opportunity:
By having someone who is already in the business of personalized nutritional supplements, personalized skincare products and personalized weight-loss programs it really gives me great insight into the industry I am diving into. He gave me the link to their website and I enjoyed the aesthetically pleasing nature of the website and how it is all about promoting health.

Industry Supplier: Lowe's

Who they are, what their background is:
I couldn't think of anyone in specific besides a brand who supplies toilets so I chose
Lowe's. I asked to speak to someone who specializes in the appliance department. I did
not get his name.

How this person is a “industry supplier”:
He works and specifically helps people in the appliance department of Lowe's. He deals and knows most brands of toilets.

How I found and contacted this person:
I just called the store on 13th street and spoke over the phone. 

Nature of Exchange: What they did for me, what is the return expectation:
I explained how I was a college student at UF in an entrepenuership class and needed some information/advice on my product. He was very nice and happily explained what his position is at Lowe's.

How will including them enhance my ability to exploit an opportunity:
Up until this point, I have not been informed or researched all the new toilets that are out there. He told me the basics of buying a toilet and what you should look for. They are: whether it is one or two pieces, the toilet bowl shapes, and available space. I never realized how intensive the buying process can be and all the different models that are out there.


Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?
In future networking, I will definitely do more active listening. These interviews can be a bit intimidating (at least for me) and as all the nerves are boiling up you realize you are not really digesting the information they are saying. I never thought toilets would be something I would be discussing so often. Before this class, I never really thought about how some people's jobs are actually dealing with the production/sales/marketing of toilets.

Assignment 19A: Idea Napkin No. 2

1) You. 

My name is Grace Turner. After reflecting on my past assignments, I have found common themes within my life. In specific, the secret sauce assignment where five of the closest people in my life has made me more self-aware. I am someone who needs structure and order to be productive in my work. I am someone who wholeheartedly will put their time and energy into relationships and work. I am already someone who puts their health as a number one priority so having this business in my life would definitely help keep that up there. Health and a good wellbeing is something I am passionate about and would love to promote with my product.

2) What are you offering to customers? 

Nothing has really changed in regards to what I am offering. It is a personal health monitor that will allow individuals to see in real time what they lack and what issues they can prevent. This can be done by having a toilet which will give diagnostics on a screen of what vitamins/nutrients you should take.

3) Who are you offering it to? 

Through feedback, many people agreed that this product is for someone who wants to maximize their health not just "be healthy". The main target market would be multigenerational households as multiple people can get use out of the product. I had multiple people comment that younger generations may also benefit from this product as more young people are becoming aware of their health. By talking to some older adults, I can definitely say that younger generations have become way more conscious about their health with it almost being "cool" and "trendy" to want to be healthy.

4) Why do they care? 

This answer has also not really changed. People will spend their money on this product as it is only saving them time, energy and money in the future. Not having to go to the doctors as often and wasting money on vitamins/nutrient supplements that you are not deficient in are benefits this product can give. People are so "go go go" in their lives that they don't have time to do the research or go to the doctors for something as simple as vitamin deficiency. Even though this may be simple thing, vitamin/nutrient deficieny can be a serious health risk depending on what it is. 

5) What are your core competencies? 

In the time spent between this assignment and the last, I actually became aware of a new product that may be similar to mine. Care/Of gives personalized daily vitamin packs after you take a quiz to determine your lifestyle and what your body "needs". However, these surveys are not necessarily scientific and accurate as you don't really know what your body needs unless you do testing. This brand does not do this, it is solely what you want to get out of it. Our bodies are also constantly changing and with these vitamin packs you only take the survey/quiz once. My product has real time testing and lets you know exactly what  you need and don't.

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 believe that these elements do fit well together. I think the majority of us in this class are intimated by the fact of actually starting a business. It is terrifying once you realize all the connections/resources you must acquire before starting on this massive project. However, with the right attitude and mindset I believe anyone can make anything work. One specific thing though that is definitely weaker in these elements is the scientific side behind my product. I am not someone who is very "science smart" so I would definitely need to do some feasibility testing with educated people on the subject.

For the "feedback memo" -- please summarize at least two main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin. 

1. Although I did not include this in my idea napkin, I believe it is important to my product. Someone gave me feedback that the delivery idea is something that should be the primary way of receiving the toilet. With that, there should be included installation with the delivery. This goes with the idea of ease and quickness, which is something my product represents.

2. With multigenerational households being my target market, it is more than likely that older more financially stable people will be purchasing my product. With that idea in mine, quality would definitely be one of the more important factors even if it costs a little bit more.

Assignment 17A: Elevator Pitch #2

Elevator Pitch #2:

https://youtu.be/mIr-CFqi5w8

For my first elevator pitch, I was surprised by all the positive feedback I got. Of the three comments I received, all of them loved my introduction with a hook as it really got them to pay attention to the rest. Because of that, I will be keeping my introduction! One of the comments gave me constructive criticism on my speaking, which I do agree with. I really need to learn to speak up more confidently and enunciate better. So with that, I tried my best! The comments also enjoyed the way I talked with my hands as it made me look more enthusiastic about my product. The only thing I changed in my elevator pitch was my enunciation and "direct eye contact". 

Assignment 18A: Create a Customer Avatar

Prototypical Customer Avatar Description

My prototypical customer is a mom who not only has the responsibilities of taking care of her two children but her parents who live with her. She cares about all of their health as well as hers. Her hobbies includes researching and being up to date on the newest health trends. She loves watching shows such as This is Us and Kelly and Ryan. My prototypical customer most likely drives a mini van or crossover of some sort. She is most likely in her late 30s but wishes she felt younger which is why she is so health conscious. She worries about every sickness her children have and worry about whether her parents are doing their best to be healthy.

She probably lives in a nice suburban house and her kids go to an A rated school. Although she is very health consciousness, she feels as though there is not enough time in the day (taking her daughter to her soccer game, taking her son to his baseball practice, making dinner, going to her eye doctor, picking up her mom from the ear doctor...). This is something she struggles with but stills tries her best to be healthy and fit. 

What do you have in common with the customer avatar? If you have anything in common with the avatar, do you think that is a coincidence? Why?

The only thing I would have in common with the customer avatar is we both share a very health consciousness mind while also dealing with very busy days. College students, including me, can have multiple classes a day while also having meetings for organizations, interviews, sorority obligations and other things that may come up. Sometimes your health can bite you in the butt when you aren't realizing it as you feel like you are constantly going from place to place with no time to rest.