Week 10 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?

Even though I'm a finance major and I know that there's  a lot behind running a company, it is always surprising to much just how much there is to keep track of.

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

Since I've already taken finance and accounting, none of this was really confusing to me because I've learned it all already.

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

Would you recommend learning how to do the finances yourself or hiring someone who's a professional?
Do you think that finances behind businesses are going to become more automated with the advancement of technology?

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

I did not find anything that the author was wrong about. This is about finance and accounting, so there isn't really much room for error.

Growing Your Social Capital

The first person is an owner of a restaurant in midtown that serves lunch and dinner. They will act as my domain expert, because the restaurant is very similar to what I plan on opening, with a few minor differences (breakfast&lunch vs lunch&dinner). I found this person by walking into the restaurant and asking them to call me when they're free. A few of my friends work at this restaurant, so the manager was willing to talk to me without me doing him a favor. This person will give me a huge leg-up because they already know the ins and outs of the restaurant business, and I don't. I think it's always really important to have a good mentor when starting a business. 

The second person is the owner of a bar in midtown. They are my market expert, because although a bar is different from a restaurant (sometimes), they target the same market and they are run on the same basic principles. I found the person the same way as the first person, by having them call me. Once again, a few of my friends work here so he was willing to take a few minutes to talk to me for this project. Although I think this person is less useful than the first owner, he is still helpful for me because he provided more information about the target market and how to advertise well. 

The last person is the supplier of some of the food I would use. They are my supplier. I contacted this person by asking one of the restaurant owners who their supplier is, and then emailing that person. The favor I will be doing for them is buying their products. This person will help me exploit an opportunity because he has some of the best quality food in Gainesville and now I've already established a relationship with him. 

Elevator Pitch 3

This is my third elevator pitch. On the last one, I had a lot of people tell me that I needed to stabilize my camera and go somewhere with better lighting. So for this one, I put my camera on a flat surface and tried to go somewhere with better lighting. Other than that, all of the feedback was positive and they agreed with my business plan!

https://youtu.be/m8qI249XtlI