Week 15 Reading Reflection

1. I was most surprised to find out that loans are handled differently for men and women. I never anticipated that being the case.
2. I was most confused about the part on the different types of loans and their specific uses, especially since I have never taken a finance class before and know little about this concept as a whole.
3. How did you get into the business of micro-finance? Does the strategy for ethical practices always work?
4. I do not disagree with anything the author said, especially since I do not know anything about this industry.

Final Reflection

I look back to the beginning of this semester and my first post about my entrepreneurial idea and I laugh at how long ago that seems, when in reality it was merely a few months ago. The most entertaining post to reread was the Bug List. So many of the things that I had remarked upon are no longer issues in my life. A major low point was reading and seeing references to my now exboyfriend. Being forced to recall how prevalent he was in my life was not easy. The post that had the biggest impact on me was "My Secret Sauce". The first time I posted it, it was mildly reaffirming to me. Now, it means much more. I've been struggling with who I am now that I am graduating soon, but seeing what those closest to me think is very inspiring. That exercise was easily the most formative and I believe I will absolutely remember it for years to come. The most joyous experience for me and the one I am most proud of was the second very short interview. It was shortly after I had broken up with my boyfriend, and I had to call his father out of the blue to ask for a follow up interview. I had no idea if he hated me now and would refuse to talk to me. I was shaking with nerves, but I was very pleasantly surprised that he still has nothing but warmth for me. I would have been too terrified to reach out to him if it had not been for this class.

Unfortunately, I do not see myself as a entrepreneur after this semester. I believe it takes much, much more to be a true entrepreneur. However, I believe I am closer than I was before to developing an entrepreneurial mindset. My one recommendation for future students taking this class is to not give up halfway through like I nearly did. It's a lot of work and you will get warn out, but it is worth it in the end. Stick to it, especially when the going gets tough. Tell yourself that although it might be the last thing in the world you want to do right now, you will definitely regret it later if you do not do well in this class.

Very Short Interview No. 2

After going back and examining my initial interview with Mr. Moor, I realized that my questions seemed very surface level and didn't have any flow. Therefore,  this time I tried to delve a little deeper to discover the true inner workings of an entrepreneur. I also only prepared the first question and decided to choose the follow up questions based on what he already discussed.

Question 1: what is your biggest regret/what would you change about your past entrepreneur experiences?
"I would try not to be as independent. Sometimes you have to swallow your pride and ask for help or guidance on the way to success. It get tough when you are out there alone and having someone you know has your best interest at heart helps you push through."

Question 2: what's the best entrepreneurship advice you've ever received or given?
"I learned this the hard way and tell anyone I can to learn from my mistakes. Always keep your contacts up to date with your life. It's not hard to pick up the phone every couple months and maintain that relationship. You never know when you might need to call in a favor."

Question 3: how do you go about meeting these new contacts and how do you decide which ones are valuable?
"Well it changes every time. Meet everyone you can. A solid handshake and looking them straight in the eye is a good start. And you just try to maintain every relationship you can, they'll either cut it off on their own if they aren't serious about mutual business benefits or it'll turn into a great thing."

Unfortunately, this interview again didn't seem to go as deep as I hoped. I feel like I don't have as good as a grip on my entrepreneurship skills as I initially thought. However, it also could be that Mr. Moor is not the best at opening up. Nonetheless, I feel that I have progressed quite a bit through this course even if it is not as much as I previously thought or hoped.

My Secret Sauce

My human capital:
1. I am very passionate about the things I love. I'm not a passive person when it comes to friends, family, work, school, or interests. If I'm going to do something,  I do it 1000%.
2. I am very musically talented. I can pick up a musical instrument and learn it easily, as well as memorize tunes and lyrics after listening to it once.
3. I have an excellent sense of humor. I love to laugh and I love making people laugh. I know how to take a joke, and usually will be the one to make fun of myself.
4. I am extremely empathetic person. That makes a great listener and a great worker in the hospitality industry. I will always go out of my way to help someone out in any way that I can.
5. I am very outgoing. I have never been scared of crowds or public speaking, instead I thrive in opportunities where I get to meet new people.

Interviews

Spenser Andersen, big brother

https://m.youtube.com/watch?v=MXeay-X-4gY

This interview was easily my favorite. Spenser focused on the things I believe to be my human capital. He talked about my motivations for why I behave the way I do, and I believe he really captured the essence of who I am.



Jordan Moor, boyfriend

https://m.youtube.com/watch?v=F25l0sAbp24

This was the first interview that I did, which made me realize that I need to do better at explaining the question before starting to record. He focused on my talents rather than personality for the most part. I believe that is becuase our personalities are very similar, so the musical and language aspects of me are the things that are specifically different from him.




Emily Andersen, mother

https://m.youtube.com/watch?v=8X65rsKE_ds

I noticed looking back that my mother chose to talk about things about me that relate to the job that I'm looking to have in the future, which is being a court reporter. The things about my tact in asking questions and my memory for what people say are directly related to that job. I believe this is becuase she has been recently telling my extended family why I want to go into that job, so those things were fresh in her memory.


Wes Andersen, father

https://m.youtube.com/watch?v=_4qW7YaZUqg


My father talked about things that make me different to most everyone else, but are the things that are almost exactly from him. He has inspired my sense of humor, outgoing personality, and musical ability.



Alyssa Forbess, sorority sister

https://m.youtube.com/watch?v=mx2RMfjqL8g

Although we haven't seen each other in person in a while, I was very pleasantly surprised with how easy it was for my Big to know exactly what makes me unique. She focused on my bubbly  personality and touched on my passion for life.




I think I see myself mostly the same way that other people see me. I didn't realize how much they actually noticed my passion and empathetic nature, but it makes me very happy to know that they realize who I am deep down. Overall, I agree with everything that was said about me, and therefore I would not make any changes to my previous list.

Idea napkin no. 2

I am Kate Andersen. My main talents are customer-service oriented. I have always loved meeting new people, and I make it a priority to go out of my way to help others. I am very confident and passionate, and I tend to be a perfectionist when I attempt a project. I have experience in the service and marketing industries and have just started in the event planning industry. My aspirations are simply to pursue something that challenges me and to keep pushing myself. Regarding my business concept, I feel that starting this unheard of concept will definitely challenge me, while giving me access to the service industry that I love.

2. My idea, "Going Home" offers premium laundry service while you sit and enjoy classical home-cooked meals. College students miss the perks of being back home. The most notable of these perks are the laundry service and home-cooked meals. The restaurant portion differs from other popular "home-cooked meal" restaurants becuase it has limited meal options that differ every day. For example, Tuesday's would be tacos or fettuccine Alfredo, and Wednesday's would be beef stroganoff or fried chicken and mashed potatoes. Also, food is served family style which is not something offered in Gainseville yet. 

3. My target customers live over 3 hours away from campus, have an excellent relationship with their family back home, and/or have busy schedules that prevent them from traveling home regularly. They are also not used to being self-sufficient, whether they've been away from their family for a month or a year. Lastly, we focus on attracting freshman first and foremost. It is easier to retain customers than to bring in new ones. By getting freshman invested in our business from the beginning, we get to capitalize on them coming for all 4 years. 

4. Customers will pay to use my service because everyone loves and desperately misses home-cooked meals, and most people do not want to do their own laundry. In my interviews, when I mentioned home-cooked meals to my customers, they all smiled wistfully. Having food that reminds customers of home is what will get them in the door and keep them coming back.

5. "Going Home" is already a concept that no one has created. There is no notable laundry service that a student knows to use. Our food is not one specific type of cuisine, therefore not alienating anyone who does not like a specific cuisine such as Italian or Mexican. If you are coming in alone, we cater to the technological ability to Skype or FaceTime your family while eating through table side outlets and complimentary high-speed wifi. If you come in with a group of people, our meals are served family style (big servings that the table shares). Both of these dining experiences are unique.


I think there is a major component of my business concept that needs more evaluation. I am not sure if I should focus my concept to be more on a laundry service or a comfort food style restaurant. However, I believe that my personality and drive fit very well with a concept that is centered around customer service. I believe I have found the right target market and I know how to access them. The main feedback points I received were all focused around the same point: people enjoyed my idea. The only constructive criticism I received was asking how I would differ my restaurant plan from places such as Cracker Barrel and bob Evans. I addressed that by pointing out how my restaurant serves food family style with a limited menu. The other feedback was asking if I would focus the business around the laundry or the restaurant. I am not sure how to address this yet, but I am figuring it out. 

Idea Napkin No.1

I am Kate Andersen. My main talents are customer-service oriented. I have always loved meeting new people, and I make it a priority to go out of my way to help others. I am very confident and passionate, and I tend to be a perfectionist when I attempt a project. I have experience in the service and marketing industries and have just started in the event planning industry. My aspirations are simply to pursue something that challenges me and to keep pushing myself. Regarding my business concept, I feel that starting this unheard of concept will definitely challenge me, while giving me access to the service industry that I love.

2. My idea, "Going Home" offers premium laundry service while you sit and enjoy classical home-cooked meals. College students miss the perks of being back home. The most notable of these perks are the laundry service and home-cooked meals.

3. My target customers live over 3 hours away from campus, have an excellent relationship with their family back home, and/or have busy schedules that prevent them from traveling home regularly. They are also not used to being self-sufficient, whether they've been away from their family for a month or a year.

4. Customers will pay to use my service because everyone loves and desperately misses home-cooked meals, and most people do not want to do their own laundry. In my interviews, when I mentioned home-cooked meals to my customers, they all smiled wistfully. Having food that reminds customers of home is what will get them in the door and keep them coming back.

5. "Going Home" is already a concept that no one has created. There is no notable laundry service that a student knows to use. Our food is not one specific type of cuisine, therefore not alienating anyone who does not like a specific cuisine such as Italian or Mexican. If you are coming in alone, we cater to the technological ability to Skype or FaceTime your family while eating through table side outlets and complimentary high-speed wifi. If you come in with a group of people, our meals are served family style (big servings that the table shares). Both of these dining experiences are unique.

Elevator Pitch No. 1

Welcome to Week 5! 

1. 
















2.  As I mentioned above, my problem is rooted in the heart of college students missing the perks of being back home.  The most notable of these perks are the laundry service and home-cooked meals.   My innovative solution is to combine those opportunities into a unique dining and service experience.  "Going Home" offers premium laundry service while you sit and enjoy classical home-cooked meals. We also cater to the technological ability to Skype or FaceTime your family while eating through table side outlets and complimentary high-speed wifi. I believe that "Going Home" will be wildly successful because we stand out in our market segmentation and will position ourselves to control our comp set.

Thanks for watching and I look forward to your feedback!