Assignment 20A - Growing Your Social Capital

Domain Expert: I emailed a service agent from the local Triple A (AAA) office here in Gainesville, Jenea Clarke. I believe she qualifies as a domain expert because AAA offers a service that is quite similar, though not identical, to the one I would like to offer. I emailed her and introduced myself, then I outlined my service idea and asked her opinion on it. I also asked her questions about the type of training their employees receive as I know this will be a crucial aspect for my business to run effectively. I don’t think she has any return expectations except my gratitude and appreciation.

Market Expert: I called a local auto repair shop, City Auto Repair, and spoke with one of their workers on the administrative end, Melanie. My service revolves around the fact that people’s cars break down from time to time and need repairs so I thought it would be beneficial to contact an auto repair shop as they are knowledgeable about this market. I asked questions on the time frame of certain car repairs and how their customers usually deal with being left without a car for the time being. This will help me better understand the opportunity I am trying to exploit by getting information from a business that sees people struggle with having to leave their car at the shop firsthand.

Industry Supplier: I emailed a manager from one of the local Enterprise Rent-A-Car offices here in Gainesville. I thought it would be appropriate to contact someone that works for a car rental service because an aspect of my service involves loaning out cars to customers while repairs are taking place on their cars. I asked questions in the email involving the logistics behind operating a car rental service and all the organization that needs to take place. I also asked about the capital that is required to purchase the cars to rent out. I found this person by looking at their website and calling the office and asking for a mangers email address to ask some questions for a school project.

Reflection: I was a little unsure about who to contact initially because my service is pretty complex and there is no one who offers something exactly like it. I believe by contacting all these different companies that are involved in a specific component of my service, will provide me with some critical tips and information that will help me when piecing all these parts of my ARCS service together. The experience of having to reach out and network with different individuals gave me some insight into the different perspectives people have in their respective businesses.

19A – Idea Napkin No. 2

1) My name is Marioly and I am a senior who is about to graduate this May. I am 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. This service can also be targeted towards parents who have children in college and would be provided a sense of ease knowing their child will be taken care of when they have a car issue and they are not around to help them.

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.

Evaluation: 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. A solid training program would have to be put into place in addition to a decent amount of initial starting capital to afford vehicles to loan out to customers while repairs are being done on their cars.

Feedback Memo: The feedback I received on the first napkin assignment was pretty positive. It did help me understand a little bit better how complex my idea was and how it would be critical that a good employee training program is put into place so all the components of the service run as smoothly as possible. Also, it was pointed out to me that I would need a large amount of startup capital for this service in order to purchase the loaner cars. One thing I expounded on was portion #3, I further specified my target customers.

18A – Create a Customer Avatar

My prototypical customer would be anyone who is extremely dependent on their car. They live in a one-car household and everyone uses the car on a tightly set schedule. Whether it’s to get them to and from work in the morning and afternoon, to then take the kids to and from soccer practice after school, the car is an absolute key factor in order for their daily life to run smoothly. They drive not a super old car, but one that is known to have its occasional issue from time to time. They are constantly on the go, working, shopping, running errands, taking the kids to their tutoring sessions and extracurricular activities. They are about 45 years old and are always extremely anxious about being on time so their spouse can use the car when they need it. They don’t have time in their day to be burdened by any sort of issues or inconveniences, especially car problems. They get frustrated easily and love when things can be handled in an easy, swift manner and are accommodating to their daily life.

What I have in common with my customer-

Similar to my prototypical customer, I also am always on a very tight schedule with classes, law school applications, and driving to and from Gainesville to South Florida, I am very dependent on my car. I also get frustrated easily and try to avoid any stressful situations whenever possible as they overwhelm me.

17A – Elevator Pitch No. 2

Pitch: https://youtu.be/JiiPsks6lyI

Reflection of Feedback:

I received positive comments related to the statistics I included in my pitch, and how that added relevance and prominence to the issue I was addressing with my opportunity. I was somewhat surprised by the positive feedback regarding my confidence and enthusiasm because I was a bit nervous prior to delivering my pitch. I didn’t receive any feedback that was wrong or silly. The most useful feedback was the value of the statistics included in my pitch, the fact that I displayed a command of the subject matter, and a question around pricing, which I plan to address on my next pitch.

What I changed, based on feedback:

Based on the positive feedback I received, I tried to deliver my pitch similarly to as I did on my first attempt, and I added a portion pertaining to a pricing structure.

16A –What’s Your Secret Sauce?

Describe five ways in which you think you have human capital that is truly unique:

1)    Great moral character, always able to elevate a mood when things feel down or alleviate people when times are tough

2) I am extremely creative. I enjoy painting and design. This would help give my company an edge when it comes to style.

3)  My experience in customer service 

4)   I am always very punctual and put in full effort in whatever I am doing

5)   I am great at effectively communicating with people and relating information

Interviews:

*(Due to the severity of the Coronavirus in the following weeks I felt it was safest to conduct interviews over the phone instead of in person. Due to this I was unable to provide audio recordings of my interviews but I have summarized them below)

1)    Ashley: Ashley is a good friend that I have known since high school. She said after playing travel soccer together for four years where I was the team captain, she admires my ability to lead a team when moral and low and motivate everybody to push through until the very end.

2)    Mia: Mia is my younger sister. She said something about me she views as valuable is my ability to look at something that appears to be black and white, bland, but then turn it into something special and colorful.

3)    Kati: Kait is my best friend that I met at UF. Kait said a piece of human capital she feels that I have is that I am able to view a situation and make the best tactical decision that will provide the best outcome, and factor any emotions out of my decision making.

4)    Riley: Riley is a friend I made at my LSAT prep class. She said she is very impressed with my ability to remain calm and relaxed when everyone around me might be stressed. She said I don’t let the emotions of other people affect my own.

5)    Sebastian: Sebastian is another close friend of mine. He said he admires my ability to multitask and organize my schedule in addition to other factors of my environment.

Reflection:

I feel that what my close friends and family stated was my human capital in my interviews does indeed closely align with what I wrote. These interviews helped give me some confidence and confirmed what I believed to be true.

15A – Figuring Out Buyer Behavior No. 2

I conducted three additional interviews and found that the only alternatives to the problem of car trouble that the three people I interviewed could think of was Triple A. Two out of the three people interviewed said they had been previous customers of Triple A but were not satisfied with the service, so they discontinued their membership. They said Triple A was inconsistent and took a very long time to get to them when they had a car break down on the side of the road. In addition to this, they said Triple A does not provide a replacement car and they are then left car-less while their car is being repaired. All these complaints about Triple A are areas where my company, ARCS, will excel and improve upon. ARCS has a competitive advantage because while it is similar in concept to a company like Triple A, but ARCS provides additional services that Triple A does not and will provide these services more efficiently and effectively. The third interview I conducted was with a man named Alejandro. He said he has found no alternative solutions to the problems that come with car troubles. He said he just accepts the fact that while his car is being repaired, he will be without transportation for the time being. All three individuals said my service was something they would be willing to spend a decent amount of money on if it delivers on excellent service and quality.

To conclude, in this segment there doesn’t seem to be very many available alternatives and the one alternative that was mentioned, Triple A, doesn’t seem to deliver on its services. If executed effectively, this service would be of use to many individuals that own cars. I should consider all the areas where Triple A fell short and deliver a well-rounded service to my customers.