Week 8 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

I was surprised about how many ways there are to raise money to start a company. There are really so many different ways to raise capital.

2) Identify at least one part of the reading that was confusing to you.

I was a little bit confused about the different types of private placements that the reading talked about. 

3) If you were able to ask two questions to the author, what would you ask? Why?

"What's the easiest way to get into venture capital?"
"Do many entrepreneurs end up being venture capitalists?"

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I don't think the author was wrong about anything!

Half-Way Reflection

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

The most useful thing that has helped me keep up with this course and get all of my assignments in on time is a calendar. I use a very scheduled calendar app on my phone called "Tiny Calendar", and it has every assignment for every class, and everything that's important that I need to do everyday. Without it, I would definitely fall behind.

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

A lot of times the assignments in this class are due on Sundays at 9pm, which is a time when absolutely nobody wants to sit down and do homework. There have been times when I've considered just not doing it, but I always push through and finish the assignment. I am motivated by having a good grade in this class. I think I've had a tenacious attitude in this class, and that's because I'm a generally self-motivated person.

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

1) Have a very neat calendar with everything in it 2) check Canvas regularly to make sure you didn't forget anything 3) have fun with the assignments, it'll make you more motivated to keep doing them

Free Money

Today I went to a random apartment complex’s pool near my apartment to find random people to give a dollar to. It was really awkward. I predicted that I wouldn’t have a hard time giving away free money, and my prediction was correct. My tactic was to go up to them and just be very blunt and straight forward, and so that’s what I did. I approached them and asked if they wanted a dollar because I was “feeling generous today”. Yes, I got weird looks, but they took the dollar. All of the people I approached were busy reading, studying, or listening to music. 

https://www.youtube.com/watch?v=U2RUKFhMKOY

https://www.youtube.com/watch?v=9RMLeiyY_Jc

Week 7 Reading Reflection

Biggest surprise: What stands most to me in this chapter is the great variation of company types, and how those decisions affect your company in the future. Although I suppose you can change your company type later on in the life of the company.

Confusing: Nothing in this reading was confusing to me, except perhaps the gravity of decision spectrum.

Two questions: I would ask the author what he thinks is the easiest type of company to run, and whether it is more effective to give the consumer as much information about a product as possible, or to appeal to their emotions.

Disagree: I don’t disagree with the author about anything in this chapter.

Elevator Pitch No. 2

https://youtu.be/YW_vohkVYig

From my third round of interviews, I learned a lot. I learned that no matter what, there is going to be a group of college-aged students who will not eat out at restaurants, no matter how appealing. They are on a tight budget and they realize that cooking at home is more cost effective. I also learned that serving alcohol would be incredibly beneficial to my restaurant's income, and would attract a lot more customers. The concept of mimosas and bloody marys seem to be very popular and get students excited about the restaurant.

Interviewing Customers No.3

This week, I had my interviewees read this paragraph about my restaurant and then give me a genuine reaction to the idea and any feedback they deemed critical:

My name is Laura Siciliano and I plan on opening a breakfast/brunch/lunch restaurant in midtown Gainesville. It will serve classic breakfast dishes such as french toast, pancakes, crepes, and waffles, along with breakfast sandwiches and lunch sandwiches. The food will be delicious, the employees will be friendly and helpful, and the atmosphere will be quaint.

I learned from this experience that there is a large unmet need for bottomless mimosas and they present a huge market opportunity for my restaurant. I think that I will serve $13 bottomless mimosas on the weekends.

https://youtu.be/1QA5d78jIKc
https://youtu.be/HGY3ymiOiTs
https://youtu.be/1157hOZiUEY
https://youtu.be/Vg5wgtIuHsE
https://youtu.be/vYt9PjrkVO0

Week 6 Reading Reflection

1. The part I found most surprising was the emphasis on family as being essential to helping you and your business grow. I find this to be accurate because nothing can compare to support from the people you care about the most.
2. I didn't find any of this reading to be confusing. I thought it was very simple to understand.
3. If I could ask the author two questions I would ask, "Which of the five forces do you think is the most important?" and "Do you think it is beneficial for an incumbent to respond vigorously to newcomers?".
4. I agreed with everything the author said in this chapter.

Idea Napkin No. 1

1. You
1. My name is Laura Siciliano. My talents include napping and eating. My skills are reading, watching documentaries, playing the cello, understanding people's emotions, and being creative. I aspire to have a career in the financial industry. This restaurant would be a side job. 
2. What are you offering to customers?
1. I am offering to customers a great American restaurant in midtown Gainesville. There aren't any breakfast places in midtown, so I think that students and professors alike would really enjoy this new option. It would provide a relaxed environment and great food, along with a friendly staff. 
3. Who are you offering it to?
1. I think that what is special about my business opportunity as oppose to many other people's is that this restaurant would benefit literally everyone in Gainesville. Anyone who would like a new breakfast/brunch/lunch place with great food would benefit. This includes kids, families, students, professors, and Gainesville residents. 
4. Why do they care?
1. Customers care about this opportunity because they want a new place to eat. They would love to see an affordable yet tasty alternative to all of the existing restaurants in midtown. You can never have a good enough breakfast/lunch place. 
5. What are your core competencies?
1. I think that what will set my restaurant apart from everyone else is mostly the atmosphere and the food. I will make the restaurant very clean yet comforting, and cozy like a home. In addition, the food will be incredible. I will hire a great top chef and figure out what foods are the most popular. 

I think that all of these five aspects fit together perfectly. I think that I have a great business idea on my hands and that if I were to implement it, it would be very successful. I think that there is a huge need for more breakfast and lunch places in Gainesville in general, and if I put in enough effort to make the atmosphere great and the food even better, there would be no problem drawing a crowd. 

Week 5 Reading Reflection

The biggest surprise for me in the reading was that you don’t actually have to have a working product in order to get a patent. Just the concept alone, with the right detail, can be enough to secure a patent. One part of the reading that was confusing to me were some of the fine distinctions between certain forms of businesses, particularly LLCs and LLPs. I would first ask the author what type of failure is the most common because if I ever start up a company, it would be the first thing that I would try to avoid doing.  The second question I would ask is if hiring an outside advisor would help a start up. For the first time, in this week's material, I don't think that the author was wrong about anything. 

Interviewing Customers No. 2

I think that my opportunity is still a great idea and that students would really enjoy a breakfast place in midtown. I think that nearly anyone is a good candidate for this interview process, because it's supposed to be a restaurant for anyone around Gainesville.. everyone needs food! I made my interview questions more specific to the types of food and drink and the health of the product so that I can create a good menu. I learned that people like both unhealthy and healthy breakfast foods, so the restaurant will need to have options for both. I also learned that if we are going to be successful, it needs to be really affordable food. If I could give any tips, they would be to 1) not act awkward, because the person you're interviewing feeds off of your energy, 2) ask simple questions that are easy to answer, and 3) to have fun with it!

https://youtu.be/pZ0icn_VLwg
https://youtu.be/C5aKHTmo-vI
https://youtu.be/sN-QVW80-nI
https://youtu.be/tRY4GSLZDIU
https://youtu.be/FC0GCSOalB8

Elevator Pitch No.1

Restaurant: Laura's

Good afternoon and thank you for taking the time to listen to my business opportunity this evening. My name is Laura Siciliano and I am the founder of Laura's, a new breakfast place in Gainesville, Florida. Gainesville is a college town with a lot of hungry students. Unfortunately, there is a severe lack of breakfast places close to campus, so students are forced to fend for themselves or drive far away. That is where I come in. I am going to be opening a new breakfast place where students can enjoy traditional breakfast and brunch food in a friendly environment. I hope that you see the same opportunity in this restaurant as I do and will join me in this opportunity. 

https://youtu.be/-lIoGKXT8cY