14A- Halfway Relection

1) Tenaciousness is a competency. 

In order to keep up with the requirements of this course, I have had to improve my organizational skills. With multiple assignments being due each week and each assignment containing multiple parts and steps, it has been important for me to stay organized with my scheduling and how I spend my time.

2) Tenaciousness is also about attitude. 

Sometimes, the assignments look a bit overwhelming at first because they require a lot of steps and time must be put in to complete them. When I see an assignment that makes me want to “give up” and put off until the very last second, I try to start the assignment as early as possible and complete a little piece of it each day to not allow it to overwhelm me. During the past two months, just knowing that I will be graduating in May and am so close to the goal I have been working towards for the past four years motivates me to work as hard as I can.

3) Three tips.

1.    Don’t let lengthy assignments or the sheer amount of assignments that you see this class has overwhelm you. Take it week by week and put the work in one assignment at a time.

2.    Don’t compare your ideas to others. Be confident in your abilities and what motivates you and let it inspire your work and creativity.

3.    Watch the lectures early and take good notes. The lectures contain details on how to complete each weekly assignment. The earlier you watch, the sooner they won’t pile up at the end of the week when the cupcake is due.

13A- Reading Reflection No.1

1) Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, Ashlee Vance

·       What surprised you the most?

• Something that surprised me is how it seems as though making a lot of money was not something that drove Musk to push further and further. He was motivated by his innovative ideas and was willing to go broke in order to bring those ideas to life. Another thing that surprised me was to learn about his childhood and upbringing. Musk had a strict father and was severely bullied as a child.

·       What about the entrepreneur did you most admire?

• I most admire Musk’s willingness to make such risky decisions. The fact that something was extremely risky and could fail completely didn’t deter him from doing what he believed in. He wasn’t scared of failure, he believed so much in his vision and goals to make the world better for future generations that he put everything he had both physically and financially into his projects.

·       What about the entrepreneur did you least admire?

• Musk is extremely innovative and inspiring, so this question is a bit tough, but I would have to say the fact that he expects the impossible from his employees and tries to squeeze the most out of them is a bit crazy. While I think it is important to motivate your employees, just because Musk himself is capable of dealing with immense amounts of stress and pressure, doesn’t mean that everyone else is capable of this as well.

·       Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

• Both of Musk’s companies, Tesla and SpaceX, had times where they seemed like they were going to fail. This is where Musk’s ability to not let pressure and negativity get to him distinguishes him from other people. There has been a lot of negative criticism about his ideas, but he is capable of blocking people out and focusing on the big picture. He cares so much about what he is doing that nothing anyone does or says matters to him.

2) What competencies did you notice that the entrepreneur exhibited? 

o   Musk’s drive for more and never just being satisfied. He sold his first website service when he was 28 years old, making him a millionaire. Most people after this would be satisfied with the money and cease to pursue any of their other goals, but not Musk. He never became complacent, while the money must be nice, it is not his driving force.

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

o   The only thing that started to become a little confusing while reading the book was the incoherent order of the events that were described. Also, the author at times did not provide enough context and background about the industry and market that was being described.

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

o   How do you decide between different ideas to pursue? Which kinds of ideas and innovations excite you more than others?

o   You are already a billionaire, what is it about your companies that push you to keep creating and innovating?

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

o   I think Musk’s work ethic is something that sets him apart from other entrepreneurs. His drive is a critical factor in the success of his companies. Musk is very lucky to have something he believes in so much and is able to revolve his life around working towards something that motivates him.

12A- Figuring Out Buyer Behavior No.1

The segment I chose to focus on is individuals that have families and only have one vehicle to share between everyone. I interviewed three individuals that fall into this segment. First I interviewed Margaret, a 50-year-old mother of three boys. Second I interviewed Angela, a 36-year-old professor who also has a 2-year-old son. Lastly, I interviewed David, a 27-year-old who has been married for 4 years and is trying to start a family. All three individuals only own one car between them and their spouse. I asked all three individuals how essential their car is in order to function in their everyday lives and they all said it was a necessity they couldn’t live without. They all said that even when they don’t have car troubles, even just having to share the car with their spouse and coordinate their schedules around when they need the car is difficult. I asked how often they have car issues and they all said they have a problem with their car at least a few times a year. They said the issues are always out of their control and it is unpredictable when the problems would occur. Their solution to the problem is to just take the car to get whatever repairs it needs and during this time when they don’t have a car they either have to rely on other people for transportation or take the bus. Angela said that having a 2-year-old and having to ride the bus according to the bus’s schedule is very stressful for her. She said once her car was in the shop being repaired for about a week and she had to Uber from her house to campus to teach her classes for that week and it was very expensive for her. Margaret said that she feels a tremendous amount of stress when her car has any issues because she knows her husband needs it for work and she needs a way of taking her kids to and from their extracurricular activities. After these interviews, I can conclude that there is definitely a need for my service within one vehicle households. I believe these individuals would pay for a service that would alleviate all the hassle and anxiety that comes with car repairs.

11A- Idea Napkin No. 1

1) My name is Marioly and I am a senior who is about to graduate this May. I am very artistic, creative, athletic, and competitive. I am majoring in political science, but I also took many business electives here at the University of Florida. I was actually one class away from getting a minor in business. My parents both came to the United States from Cuba when they were very young and I am extremely proud to be Hispanic. If this business were to start I would dedicate myself and my time to make sure it can be the best I can possibly make it. It would give me a sense of accomplishment to know that something I started is helping people’s lives be just a little bit easier.

2) The service I am offering is Auto Repair Concierge Service, also known as ARCS. This service is designed to make things easier for individuals who are burdened when their car needs to be left at the shop for repairs. With ARCS, when your car breaks down you contact us by phone or app, we then send you a car to use for the duration of your car's repairs. ARCS transports your car to a contracted auto repair shop that will give you a discounted repair bill because you’re one of our customers. Soon thereafter you will see the cost of the repairs on your app. Once your car is repaired, ARCS will transport your car back to you, and we pick up and return the rental you were using. I am solving the unmet need of individuals who only have one vehicle and don’t have time to leave their car in the shop because they need transportation for work or to pick up their children.

3) This service is directed towards employed individuals living alone, couples that both work outside the home, or any individual that only owns one vehicle that is essential to their day to day lives. They can be both male and female and range from mid-twenties to about late fifties. I think something that all my customers will have in common is how disruptive they feel it is to have to deal with car issues because a car is a necessity for their livelihood.

4) Customers will find this service valuable and actually pay for it because of the convenience the service provides and how it caters to one's every need when dealing with car repairs. Our cars are a fundamental aspect of our lives and are something that we use on an everyday basis. Break downs, accidents, small car problems, etc. can happen anytime. Customers will feel at ease knowing that whatever car trouble they are thrown, it will not be a set-back in their day to day lives because they have ARCS to help.

5) What sets ARCS apart is the many different aspects of services it will provide. From giving our customers a rental car to transporting their car to and from the shop, to returning your rental car for you, ARCS does all the things that you would have to do on your own. With my drive and competitive edge, I will ensure that this service runs smoothly and that all our customer’s needs are satisfied.

In all, I do believe these elements fit together. This idea came to me because I have experienced this issue first hand on several occasions and had to deal with flat tires, chipped windshields, and dead car batteries by myself here at school without the help of my parents. One aspect of the service that might be weak is organizing all the different components and training employees on how to run this service seamlessly and provide the best customer service.

10A- Elevator Pitch No. 1

https://youtu.be/hV7vMCsmRek

9A – Testing the Hypothesis, Part 2

·      Who: After conducting five additional interviews I have identified a few groups of people who do not exactly identify with the unmet need I have found. I spoke with some adults in my hometown of Weston, FL. The three families I spoke with said while it is quite annoying when they have to take one of their cars into the shop for repairs, they are not completely inconvenienced because they own more than one car and are not left without transportation. In these cases, the transportation to the repair shop portion of my ARCS service could benefit them only if they have no family or friends available to drive them. As for the rental car portion of the service, it wouldn’t be of use to these families as they own multiple cars and have alternative transportation options. But, when I mentioned the part of my service where ARCS will deliver the repaired vehicle to the customer’s home, these families said this would convenience them greatly as they would only have to make one trip to the repair shop. With these groups of people, they would only be interested in a few aspects of my ARCS service. I also spoke with an 18-year-old college student who said that the service does not really interest her because whenever she has a car issue her dad takes care of everything for her. I asked her if I could interview her father. When speaking with him he said he would definitely pay for a service like ARCS because it would basically take care of everything he has to facilitate and handle whenever his children have car issues like flat tires and engine issues. He said it would alleviate a lot of the burden that is placed on him when his daughter has car troubles and she is far away at school.

·      What: While car issues are quite annoying and troublesome, they really don’t occur frequently enough for individuals to want to pay for a service to help handle them. In addition, families and individuals who own more than one or two cars are not left stranded without transportation and therefore do not necessarily have a dire need for a service like ARCS.

·      Why: Not everyone benefits from each component of the ARCS service. Some individuals might just need a ride to the repair shop but no rental car, others might want all aspects of the service but might not be interested in using the app to check their cars repair progress. Also, some individuals who drive company cars have all their car troubles taken care of by their company or through their company’s insurance.

	Inside Boundary	Outside Boundary
Who:	·      Single employed individuals who live alone and have no alternative forms of transportation ·      Couples with children who have only one car ·      Anyone dependent on their car to go to work and is unable to take time off to get it repaired ·      Parents of college students who usually handle their car troubles ·      People who own old cars that frequently have problems	·      Families that have more than one car ·      Individuals who drive company cars ·      College students who don’t handle their own car issues ·      People who own newer cars that rarely ever have problems
What:	·      The burden and struggle of having to find a way to the repair shop when your car breaks down and not having a car until the car is fixed ·      The financial burden of being without a car and needing to go to work	·      Not needing a rental car when theirs is in the shop being repaired ·      Not having to worry about going through the process of repairing your car on your own
Why:	·      Some people only have one car. They cannot rely on friends or family to drive them while their car is being repaired because they also have jobs. ·      There is a need for a better process to have their cars repaired when they break down	·      Have other cars available to them to use ·      Have other people or companies take care of their cars for them ·      Don’t work or always need a car

8A – Solving the Problem

The solution to my problem: Employed Individuals living alone or couples that both work outside the home have a need for a better process to have their cars repaired when they break down. Often times these individuals must burden others for transportation to and from the auto repair shop, transportation to get around while their car is being repaired and must make arrangements for others they are responsible for transporting. My opportunity to the problem is an Auto Repair Concierge Service (ARCS). This service would allow the owner of the car needing repairs to place a call to ARCS letting them know they need help. From that point, ARCS will deliver a rental at the owner’s home. ARCS will then drive the car needing repairs to the shop or have it towed if it needs towing. ARCS will also have an app that the customer can use to track the progress of repairs along the way to gain a better sense of the completion time. The app will also provide such information as a break-down of the repairs being performed and the costs associated with the repairs. Once the repairs are completed, ARCS will deliver the repaired vehicle to the customer’s doorstep and drive off in the rental the customer had been using while their car was in the shop. ARCS can also partner with insurance companies to provide their service to the insurance company’s policyholders for an added premium. ARCS will simplify the auto repair experience that my interviewees described as a hassle and a very frustrating one. ARCS will make repairing one’s car a hassle-free auto repair experience.

7A – Testing the Hypothesis

The opportunity: Employed Individuals living alone or couples that both work outside the home have an extreme burden placed upon them should their car break down. Often, this vehicle is their primary mode of transportation to and from work. Typically, they must reach out to family and/or friends for help to make transportation arrangements when this happens. They also must spend time away from their daily activities in order to deal with the problem. Not only does this problem create transportation challenges but it also creates time away from work to arrange for repairs of the vehicle, which may lead to a financial burden as well. There is an opportunity to simplify this event.

Who: Employed individuals and couples who do not have the ability or time to take their car into an auto repair shop when their car needs repairs.

What: This group may not have another mode of transportation after they transport their broken-down vehicle to a repair shop for repairs. They may not have the ability to take time away from work to spend on arranging for repairs.

Why: According to statistics, 85% of US households own a car. If most working individuals only owns one car, that means that when that car breaks down, it must be repaired immediately in order to travel to and from work daily. If most individuals don’t have the luxury of taking extra time off work to handle such repairs, then there is a need to make this process hassle-free.

Testing the Who: The individuals that have this need are working individuals or couples that can’t take extra time away from work to deal with car repair issues. I will gather information around who is impacted by this dilemma during my interviews.

Testing the What: As I conduct my interviews, I will ask questions that are geared towards gaining a better understanding of what the specific issues are that are the impetus for this opportunity. I will interview individuals and couples that both work, as well as individuals that don’t work outside the home to better target the problems caused by this problem.

Interviews: I interviewed 2 individuals that both have full-time jobs, 2 working couples and a wife whose husband works but she does not work outside the home. I asked questions of each of these folks to better understand the problems that are caused when they have their car break down. What are the inconveniences caused by this? What are the financial burdens? Everyone I interviewed said that they each had experienced this at least once. They each described how they had to call someone for help when it happened. This typically means that they had to drive the car into a shop, followed by the helper who then needed to drive them home after they dropped the car off at the repair shop. This not only placed a burden on the car owner but the helper as well. In some cases, they described having to have the car towed to a shop which created an even greater financial burden (unless towing was covered by their insurance). From there, they needed to rent a car or make arrangements with others (family, friends) to help them get around. In the case of the stay-home mom, she described having to make plans to have her 2 children taken to and picked up from school until her car was repaired. In all cases, they described the inconvenience and time they needed to spend on this problem which was a real hassle.

What I realized after interviewing these individuals was that this issue is a real burden that creates anger and frustration. All of them described having to get others involved to help them when this occurred (family, friends), thus, creating a burden on others. Those that worked described how they had to take time away from work to deal with the issue, in some cases having to use vacation days which were poorly spent (they would have rather gone to the Keys on their vacation). I was surprised to learn how this not only impacted working individuals but also the stay-home mom. She described how although she didn’t have to miss time away from work, she still had to plans to have her children picked up and dropped off from school and soccer practice. Everyone said that they knew others that had experienced this which tells me that this is a problem large in scope. Everyone agreed that there are few things worse than having to deal with this problem.