Assignment 30A Final Reflection

• My most formative experience in this course would have to be completing the assignments that required interviews. My first assignment that required an interview was quite easy, as I was able to interview people that I knew right away. Though, as more assignments went on requiring interviews from new people each time, the more difficult it became as it required me to go beyond my comfort zone and approach new people to complete these interviews.
• One thing I'll remember years later from this course would be the elevator pitches, because it was one of the assignments that I started off immediately disliking. Having to record myself speaking in front of a camera, and uploading it onto youtube to receive feedback was definitely a step outside of my comfort zone. On top of that, each elevator pitch took hundreds of tries and re-filming, to memorize the pitch and not mess up. Though, the growth I was able to see in myself and the pitches were definitely memorable, seeing that I grew more comfortable each time.
• With that said, the improvement I was able to make with these pitches and being able to overcome going outside my comfort zone was an accomplishment I was proud of by the end of this semester. Seeing the positive feedback I would receive from these pitches on top of that, was also reassuring. I was nervous at first to read all of the feedback on my posts, but soon learned that the feedback itself was beneficial- both positive and negative- and I loved learning from it as well.
• I wouldn't necessarily say that I see myself as an entrepreneur, though, I do feel that I have developed an entrepreneurial mindset. I find myself having a new perspective on life, always finding opportunities and looking for ways to improve and grow. Also, I am now willing to take more risks and go past my comfort zone. 
• I would advise the students to be aware of their time management, because this class isn't one where you can pull of completing the assignment last minute. I'd say, that if you put time and effort into these assignments and enjoy the experience overall, it won't feel like a dread to complete these assignments. In which, I personally have learned so much from this course and found growth in myself by completing these assignments. Focus your venture concept on something you are passionate about, as it will motivate when completing the assignments revolving around the concept. To foster the entrepreneurial mindset, be open to new ideas, learn from the feedback of others and adapt, and be willing to take risks!

Assignment 29A Venture Concept 2

Opportunity:

• Every day, card payment users are prone to credit card fraud through skimming due to the easy availability to skimming devices, which grants easier opportunities for skimmers to steal credit card information through card readers. Skimming is a type of credit card theft where a small device is placed in card readers to detect and steal credit card information from the swipe of the magnetic strip. The unmet need is the prevention of skimming, so that card users can freely swipe their card into card readers anywhere, without having to face fraud or having the worry of facing fraud. 
• The potential customers that have the need, are any card users, whether it is debit or credit, because they are the ones that skimmers target and are more prone to facing credit card fraud.
• The main issue with credit card fraud through skimming, is that as technological advances are arising, it has become more efficient to get away with credit card fraud without the card user knowing. Therefore, the forces that create this opportunity, include the technological advances that have lead to skimming devices that can efficiently hack into card readers. 
• According to Shift, "the United States leads as the most credit fraud prone country with 38.6% of reported card fraud losses in 2018." In which, "Florida had the highest per capita rate of reported fraud, followed by Georgia and Michigan." 
• Though, there is no current satisfactory solution to this need, as many people are still facing credit card fraud today through skimming. However, based on my interviews, many have tried to avoid skimming by using cash payments, being aware of where they use their card, and having EMV chip cards. Although these alternatives can help with the prevention of skimming, the risk of facing the fraud is still inevitable as people are still getting their cards stolen. Thus, this is a fairly big and serious opportunity that is common worldwide, and the window of opportunity is open until an actual solution that meets the needs is found.

Innovation:

• The product that I will be selling that may be applied to the marketplace to address these customers' needs is a technological advanced credit card case that will allow card users to detect skimmers before the skimmers are able to steal their information. 
• The product is a thin, clear case for your card with built in technology that will be able to detect if a card reader is clear of skimmers. The case replicates a credit card with a magnetic strip that is used for detection. 
• With the case on the card, the card users can swipe their card into the reader, and if a green light appears, it indicates that the machine is clear of a skimmer. Though, if a red light appears, it will indicate that there is a skimmer on the machine and that the user should not swipe their actual card into that reader. Once the user has checked if their machine is clear, they can take the card out of the case and swipe it into the reader without any concerns. 
• I will be selling my product with high built-in technology for $150.

Venture Concept:

• Card users will be interested in buying my product due to the countless times and incidents regarding credit card fraud. They are currently seeking solutions towards avoiding this issue, and there has yet to be a satisfactory solution. One thing that all of the incidents regarding credit card fraud through skimming have in common is that the victims of fraud were unaware of when it had happened. That is what makes skimming so successful, the fact that skimmers are able to steal credit card information from consumers through card readers without them even knowing. Therefore, with this common problem of not exactly knowing of whether they are facing credit card fraud or not, consumers will seek my solution of preventing the fraud before the damage can be done. My product would appeal to consumers, as they will be able to become aware of the issue before the issue of skimmers can negatively affect them. There may be hesitations at first when purchasing the product, but I think that the pros will outweigh the cons. 
• There is not really any competitors, other than EMV chips, which people have turned to for more security of their cards. Though, although EMV chips have led to more security on cards, they are still vulnerable to credit card fraud through skimming, as skimmers have also found a way to hack card inserters. 
• I think price points plays an important role, as it is important to make sure that the price is reasonable. You don't want the price to be too expensive, but you don't want it too cheap where consumers will be skeptical of the quality of your product. 
• As for distribution, I would first distribute it in banks to get the name out there. As these consumers are concerned for their checking accounts, claiming frauds, making deposits, I can raise their awareness of my product which will hopefully catch their eye. I find that being in that setting will persuade them even more. 
• Packaging wise, I think the simpler the more effective. Though, the packaging should be enough to communicate itself how the product works, so that when consumers get their hands on the product they will be drawn to it.
• Lastly, I would need to hire engineers to build the product, technological experts who would be behind the science and technology of the product and test the product, marketers, researchers, and distributers. 

Unfair Advantage:

• From my VRIN analysis, I would say my top resource is my Finance Background/Experience. It's always a plus when you go into starting a business with some background and experience regarding your business's field and market. Having this demonstrates your credibility for the business, and your experience can give you a better understanding of your consumer market. Though, the fact that my product is also one of a kind makes it viable.

What's Next:

• I want to prevent credit card fraud through skimming with my current product, and take away the worry of getting your card information stolen. I could also expand upon preventing  credit card fraud not only through skimming, but through other ways such as online payment methods. In which, I would create a system/app that would scan for online skimmers. Though, this would require much more research and development to effectively implement this in the future. 

For Me:

• I want to continue tackling economic issues. In five years, I see Swiped having been launched and me generating new ideas for my next innovation to build upon this product. In the next decade, I see myself steadily managing Swiped. If I do end up coming up with a good new innovation, then I will want to launch it in the next decade to help build up a positive reputation towards solving these issues.

Feedback

• Well thought out and introspective
• Like the use of bolded words and phrases
• Like the name of the business
• New endeavor of branching out to new market of those who use online payment, with a system/app that scans for online skimmers is good- though would be difficult to tackle, so it would require a lot of research and development
• Some agreed with my top resource being Finance Background/Experience, though I also received feedback that other resources were more effective, such as the uniqueness of my product

How I'll Adapt

• I decided to adjust the formatting of my venture concept with the use of bullets, on top of the bolded words, to ensure clear communication. With this formatting, it allows readers to get a better understanding of the venture, gets the point across, and it allows the important information to stand out. 
• I expanded more on my new endeavor under the subheading "What's Next." Based on the feedback, I described the new idea but also included the fact that it would require a lot of research and development. In which, I also added researchers to my hiring team with this in mind for the future.
• I included the uniqueness of my product on top of my Finance Background/Experience under the subheading "Unfair Advantage" because I found that both of those were important resources. 

Assignment 28A Your Exit Strategy

• Identify your exit strategy
• I intend on staying with my business, depending on how well it does in the future, until I had made enough money and feel satisfied enough with the business itself to sell it to an individual or company. With that said, I don't intend on staying with the business until I retire, as I only plan on starting up the business and generating enough success to where it can be sold to another person or company, where the business can be further expanded. I aspire to sell the business to an individual or company with the same intentions as me, and will continue to build upon the venture and ensure the prevention of credit card fraud. 
• Why have you selected this particular exit strategy?
• I chose this exit strategy because as I am passionate about ensuring the prevention of credit card fraud, I do have many other interests and aspirations that I want to pursue as well. Therefore, I do not intend on staying with the business for several decades or making it a family business, as selling my company in the mere future will allow me to focus on pursuing my other aspirations. 
• How do you think your exit strategy has influenced the other decisions you've made in your concept? 
• I think that with the intention of eventually leaving this business, it has allowed me to be more open to others' ideas. I found that knowing that I would eventually sell my business to another individual or company, it was important to consider the suggestions and keep in mind the multiple ways that my business could be adjusted and improved. With this, it influenced me to identify an opportunity that was a major issue broad enough to where these ideas could be built up, and continuously be improved throughout the years.

Assignment 27A Reading Reflection No. 3

The Art of Social Media: Power Tips for Power Users by Guy Kawasaki

• What was the general theme or argument of the book?
• The book emphasizes insights and strategies of building a strong and compelling presence on the most popular social media platforms. Kawasaki presents hundreds of tips and tricks of bringing attention towards your business and advancing it through social media. He gives in-depth breakdowns of each key aspect to keep in mind with your social media, such as optimizing your profile, perfecting your posts, and gaining followers. Overall, The Art of Social Media stresses the significance of social media in terms of self branding, as well as the importance of treating your social media like a business. 

• How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
• The book goes through the many tips of maximizing the benefits of social media that include getting your name out there and self branding. Many of which, are also emphasized in this course being that social media is a significant platform for marketing your business. Both the book and the course also emphasize key aspects to consider when using social media to promote your business, such as effective ways of including links and key words, and creating a business page, to ensure that your business is receiving the most amount of attention it deserves. In which, nowadays, social media has allowed marketing to be more efficient and effective, as it can be shared with thousands with just one click. Social media plays a huge role in entrepreneurship, as it gives entrepreneurs a platform that will give them the opportunity to get their business out on the field and generate success. Overall, I found that this book increased my understanding of how social media is beneficial in the business world, and how an entrepreneur can apply many of these key takeaways towards their business in order to be successful.

• If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
• An exercise that the class can do based on The Art of Social Media, would be to create a business profile for your business. The book began with a chapter based on optimizing your profile and its importance, to explain who you are and convince other people to pay attention to your business. Each student's business profile should include the avatar (image of you as the entrepreneur or logo of your business), cover (image that visually sums up your business), biographical text (summary of what makes you credible and include text that summarizes your venture), and important links that are relevant to your business. Having a strong profile is significant to your business, as it draws your customers in and it is essentially their first impression of your business.

• What was your biggest surprise or 'aha' moment when reading the book? What did you learn that differed most from your expectations?
• One thing I found surprising, was that Kawasaki emphasized the notion that with social media, if you are not "pissing someone off" on social media, you are not using it aggressively enough. In his chapter about how to perfect your post, he highlights the importance of being active, in which he defined to be 3 to 20 posts each day. He stated that as long as your posts are good, there is no problem with posting multiple times a day. Overall, this whole notion of posting multiple times a day and that you know you are using social media correctly if you are pissing someone off, differed from my expectations. I always thought that constant posts on social media, pissing people off, would drive the consumers away from your business, as they may find it annoying. Though, Kawasaki argues that it is important to make yourself known through social media.

Assignment 26A Celebrating Failure

• A time you failed this past semester
• This semester, Marketing happened to be my most challenging class. My test score for the first exam was able to attest to this, as it was my first failure this semester, at least in my book. After getting A's on all of my other first exams, and then seeing my score on the Marketing exam left me feeling disappointed. Though, as I was deeply discouraged, I set the goal to adjust my study methods in the class and adapting to what works best with the course itself, and strived to get an A on the second exam to balance it out. When the second exam came around, I did not cram my studying this time, and I completed and reviewed a lot more practice exams. When scores came out, it improved drastically, but I still fell a couple points short from an A. I was less disappointed in the B, but I still wanted to get an A on the exam, especially since the exams make up more than 60% of our total grade. In which, taking my last two attempts in consideration, I am making sure that I am fully prepared for the final exam, and I continue to strive to reach my goal.
• What you learned from it
• From this, I learned how important it is to set goals for yourself and push yourself to achieve them. I found that by setting the goal for myself, it motivated me to work harder to achieve it, which ultimately resulted in a higher test score. Though, I learned that time management is key, and it is important to balance all of your classes in order for you to make sufficient time to study for these exams. I found that my mistake for the first exam was cramming all of my studying, which didn't allow me to fully grasp the material needed to pass. 
• Reflection
• As unpleasant and embarrassing failure is, it is definitely necessary and beneficial in the long run. I was definitely blindsided and discouraged by my failures in Marketing, but this has allowed me to grow and learn along the way. It allowed me to readjust and learn from my mistakes to avoid making the same one. From this, I was also able to apply my learnings to other courses and other applications in my life. I find that I deal with failure both emotionally and behaviorally. When it comes to failure, the feeling of discouragement and disappointment is almost immediate. Though, this feeling is what pushes me to take action and learn from it so I don't have to get that feeling again. It pushed me to set the goal for myself to ace the next exam and change my studying ways and pay more attention to how the course works. Lastly, I'd say that this class has changed my perspective on failure. It pushed me to go outside of my comfort zone, and that it was okay to take risks, regardless of the outcome, good or bad. Through these assignments and interviews, I found myself gaining perspective from others as well. Overall, I feel that I am more open minded and willing to take more risk after this class.

25A What's Next?

What's next:

• I think I can expand my market, as credit card fraud can be implemented in many ways other than through skimming. Therefore, I think the next product Swiped should consider is a product that is targeted towards those who use online payment, as those who pay through online have also been prone to credit card fraud. Since these online payers are familiar with technology, perhaps I could develop a system or app that could scan for any online skimmers before you would have to pay, to detect hackers beforehand.

Existing Market Interviews:

• I interviewed three other people that were a part of my existing market, being card users. In which, I was very surprised to hear the differentiation between the responses, which just means that there is room for this venture to grow. My first interviewee suggested creating an app on top of the actual product, that would be able to somehow detect the skimmer on a machine. In which, once she heard about my idea of targeting online payers with a system/app that could help detect skimmers online, she immediately grew fond of the idea and agreed. My second interviewee didn't have any other suggestions, as he stated that he thought my current innovation was already a good idea. Though, he had really good feedback on my idea of expanding my market and creating the system/app, as he said that it would be a great idea and market to segment. Lastly, the last interviewee suggested developing an entirely new credit card with some type of extra security to prevent skimmers. I found this to be a good idea, but a very complex one that may not be all that effective seeing how EMV chips are. Though, she really liked my next idea for the venture.

Reflection:

• From these three interviews, I found that there is a huge window opened to move forward with growth for my product, as there were many different responses from prospective customers. Which is why, it is important to listen to your targeted customers, as they are the ones you are trying to satisfy. I think that an app would make the most sense moving forward, as technology continues to increase daily, it is only appropriate to develop a modern and efficient way of detecting skimmers. One other person suggested the development of an app for detection, as it would be convenient, efficient, and accurate. Yet, all three of the interviewees liked my idea of venturing out my market and incorporating a familiar technological foundation for a better outcome in demand. With the three interviews, my own expectations, and my existing knowledge, I am more confident in my new venture idea of developing an app.

New Market:

• As mentioned before, I had not previously thought about the market of online payers who put their card information online to purchase. Online shopping and banking has become more relevant today are are also prone to facing credit card fraud, as thieves are also beginning to look into stealing card information by hacking these online payments. Therefore, as credit card fraud through skimming is very common today, credit card fraud through online payments are certainly another risk and issue occurring today. Therefore, with my current product I can keep the idea of detecting the skimmer before they steal from you, but I could make a digital form that could be sold towards these online payers. In which, if I created an app/system that could let the consumer know if the website was safe to enter their card information before they payed, it would be beneficial towards this new market. 

New Market Interviews:

• The first person I interviewed was very familiar with online shopping, and addressed their concern for entering their card information when having to pay. Though, they stated that they do so anyway and just hope for the best, regardless of their slight concerns. They agreed that if I modified and created another product that had the same idea as my current product, but could be more applicable for online payers, that they would definitely purchase it. They liked my idea of creating some kind of online system or app that would be able to detect to see if a website was clear of online hackers/skimmers. The second person had a very similar response and suggested a program for your computer that would act as a virus check, but for credit card skimmers. In which, the program would do a full scan right away to ensure the security of a website. 

Reflection:

• What surprised me the most about the interviews with this new market was the positive feedback. I originally thought that it would be difficult to apply my current venture concept towards another market. Yet, from my interviews, I learned that with some modifications and another platform, I can effectively apply the same concept towards this new market. Though, I did have the expectations that the possibilities of a new product for this new market would be limited, as it would only make sense to create something digital opposed to tangible. After completing these two interviews within this new market, i am more confident in venturing out to a new market and modifying my current concept to be applied towards this market. I think that having the same concept but different platforms for these two different markets can ultimately lead to a successful business if implemented correctly, basing off of the consumer's needs.   

Assignment 24A Venture Concept 1

Opportunity:

• Every day, card payment users are prone to credit card fraud through skimming due to the easy availability to skimming devices, which grants easier opportunities for skimmers to steal credit card information through card readers. Skimming is a type of credit card theft where a small device is placed in card readers to detect and steal credit card information from the swipe of the magnetic strip. The unmet need is the prevention of skimming, so that card users can freely swipe their card into card readers anywhere, without having to face fraud or having the worry of facing fraud. The potential customers that have the need, are any card users, whether it is debit or credit, because they are the ones that skimmers target and are more prone to facing credit card fraud. The main issue with credit card fraud through skimming, is that as technological advances are arising, it has become more efficient to get away with credit card fraud without the card user knowing. Therefore, the forces that create this opportunity, include the technological advances that have lead to skimming devices that can efficiently hack into card readers. According to Shift, "the United States leads as the most credit fraud prone country with 38.6% of reported card fraud losses in 2018." In which, "Florida had the highest per capita rate of reported fraud, followed by Georgia and Michigan." Though, there is no current satisfactory solution to this need, as many people are still facing credit card fraud today through skimming. However, based on my interviews, many have tried to avoid skimming by using cash payments, being aware of where they use their card, and having EMV chip cards. Although these alternatives can help with the prevention of skimming, the risk of facing the fraud is still inevitable as people are still getting their cards stolen. Thus, this is a fairly big and serious opportunity that is common worldwide, and the window of opportunity is open until an actual solution that meets the needs is found.

Innovation:

• The product that I will be selling that may be applied to the marketplace to address these customers' needs is a technological advanced credit card case that will allow card users to detect skimmers before the skimmers are able to steal their information. The product is a thin, clear case for your card with built in technology that will be able to detect if a card reader is clear of skimmers. The case replicates a credit card with a magnetic strip that is used for detection. With the case on the card, the card users can swipe their card into the reader, and if a green light appears, it indicates that the machine is clear of a skimmer. Though, if a red light appears, it will indicate that there is a skimmer on the machine and that the user should not swipe their actual card into that reader. Once the user has checked if their machine is clear, they can take the card out of the case and swipe it into the reader without any concerns. I will be selling my product with high built-in technology for $150.

Venture Concept:

• Card users will be interested in buying my product due to the countless times and incidents regarding credit card fraud. They are currently seeking solutions towards avoiding this issue, and there has yet to be a satisfactory solution. One thing that all of the incidents regarding credit card fraud through skimming have in common is that the victims of fraud were unaware of when it had happened. That is what makes skimming so successful, the fact that skimmers are able to steal credit card information from consumers through card readers without them even knowing. Therefore, with this common problem of not exactly knowing of whether they are facing credit card fraud or not, consumers will seek my solution of preventing the fraud before the damage can be done. My product would appeal to consumers, as they will be able to become aware of the issue before the issue of skimmers can negatively affect them. There may be hesitations at first when purchasing the product, but I think that the pros will outweigh the cons. There is not really any competitors, other than EMV chips, which people have turned to for more security of their cards. Though, although EMV chips have led to more security on cards, they are still vulnerable to credit card fraud through skimming, as skimmers have also found a way to hack card inserters. I think price points plays an important role, as it is important to make sure that the price is reasonable. You don't want the price to be too expensive, but you don't want it too cheap where consumers will be skeptical of the quality of your product. As for distribution, I would first distribute it in banks to get the name out there. As these consumers are concerned for their checking accounts, claiming frauds, making deposits, I can raise their awareness of my product which will hopefully catch their eye. I find that being in that setting will persuade them even more. Packaging wise, I think the simpler the more effective. Though, the packaging should be enough to communicate itself how the product works, so that when consumers get their hands on the product they will be drawn to it. Lastly, I would need to hire engineers to build the product, technological experts who would be behind the science and technology of the product and test the product, marketers, and distributers. 

Unfair Advantage:

• From my VRIN analysis, I would say my top resource is my Finance Background/Experience. It's always a plus when you go into starting a business with some background and experience regarding your business's field and market. Having this demonstrates your credibility for the business, and your experience can give you a better understanding of your consumer market.

What's Next:

• I want to prevent credit card fraud through skimming with my current product, and take away the worry of getting your card information stolen. I could also expand upon preventing  credit card fraud not only through skimming, but through other ways such as online payment methods.

For Me:

• I want to continue tackling economic issues. In five years, I see Swiped having been launched and me generating new ideas for my next innovation to build upon this product. In the next decade, I see myself steadily managing Swiped. If I do end up coming up with a good new innovation, then I will want to launch it in the next decade to help build up a positive reputation towards solving these issues.

Assignment 23A Your Venture's Unfair Advantage

1. Uniqueness of Venture: there is currently no other product like mine, meaning there is a lack of competitors. 
• Valuable: this is valuable, because it is important to stand out in your venture and upon your competition. 
• Rare: it is rare, especially if you are the first product. though, this can also be risky if you don't do a good job of making consumers aware of your product.
• Inimitable: as of now, my product is unique being the first. though, others can be influenced and imitate the product in the future.
• Non-substitutable: if I wanted, I could come up with another unique product to substitute.
2. Finance Background/Experience: I was in the Academy of Finance throughout my 4 years of high school and I interned for Launch Federal Credit Union for 3 years, so I am familiar with this venture.
• Valuable: this is valuable because it shows my credibility for creating this product, as I apply my experience and knowledge.
• Rare: this isn't rare, as there are many opportunities to gain experience in the finance field.
• Inimitable: others can also gain finance work experience through other internships, as well as join finance programs.
• Non-substitutable: I could expand my experience by working with other companies in the finance industry.
3. Social Capital: Card Users: This is my primary target, in which a lot of college students fall into this realm. Being that I am a student at UF, I have the opportunity to contact and market my product to this target around campus.
• Valuable: this is valuable to reach out to a bunch of prospects and develop relationships to generate a successful business.
• Rare: anyone at UF can network and communicate with other students if they wanted.
• Inimitable: this is imitable if you are willing to make connections and communicate with others.
• Non-substituable: this cannot be substituted, as card users are my primary target. though, I could also venture outside of uf.
4. Marketing experience: Throughout my years of interning, I also had to do some marketing for the credit union. I can apply these skills when marketing my product.
• Valuable: gaining marketing experience is valuable, as it will be useful to apply when marketing my product.
• Rare: marketing experience itself isn't rare, though mine being for a credit union is particularly beneficial towards my business.
• Inimitable: this is imitable, as anyone can gain marketing experience.
• Non-substituable: I could substitute the marketing experience with another experience with another company.
5. Social Capital: Bank tellers and Finance educators: I have a lot of connections with people who work in the finance industry, that are very knowledgeable about the venture, and would be willing to help. They could also help market the product in their own banks.
• Valuable: their expertise is valuable to help me get a bigger understanding on my prospective customers, as well as the field and product itself.
• Rare: this is not rare, as there is the financial industry is large.
• Inimitable: this could be imitated by anyone who has a connection with someone in the field.
• Non-substituable: their expertise would be non-substitutable because their knowledge is significant for my venture. though, I could expand on who I am talking to as long as it falls within the field.
6. Publicity: Credit card fraud and skimming is all over the news and media. If there is a new product introduced that could help solve the issue, it would not be difficult to get the word out about it, especially through the media. 
• Valuable: getting the word out there about your product is valuable, especially if you are using media as a platform. 
• Rare: it is rare to see a new product gain a lot of publicity immediately.
• Inimitable: the amount of coverage on this venture can be imitated by anyone who comes into this field.
• Non-substituable: a substitute could be traditional advertising, and self-advertising rather than publicity, but it may be less effective.
7. Human Capital: Hardworking: This determination and strong work ethic can be applied towards making my business successful, because it will indeed require a lot of hard work.
• Valuable: this quality is valuable because the amount of work you put into your business can affect the outcome. 
• Rare: anyone can be hardworking, it just depends how hard you are willing to work for something.
• Inimitable: anyone can be hardworking, but in a way this trait can be inimitable because everyone has their own level of work ethic.
• Non-substituable: other quality and skills can be mixed towards the process, but nothing can substitute a strong work ethic. if you are not putting the effort and work towards your business, you can't expect it to become successful easily.
8. Human Capital: Leadership: I have taken up many leadership positions, which have allowed me to gain leadership skills. I can apply these skills when running a business on my own.
• Valuable: it is valuable to obtain leadership skills, as it is an important aspect of being an entrepreneur and can help generate a successful business.
• Rare: anyone can have leadership skills
• Inimitable: anyone can have a leadership skill, but each leadership quality can also be individualistic and be applied differently.
• Non-substituable: other qualities and skills can be applied on top of the skill, but nothing can substitute leadership. 
9. Financial Capital: Fundraising: I have a lot of fundraising experience, as I had raised a lot of money for clubs and charity events in high school through fundraisers. In which, I can apply this experience when fundraising to raise money to start the business.
• Valuable: this is valuable because I will definitely need funds for startup.
• Rare: this is not that rare, because many people have fundraising experience and are capable of fundraising in general.
• Inimitable: this can be imitated, but it can also be individualistic as others may have different approaches to fundraising.
• Non-substituable: if I wanted, I could hire someone to fundraise for me but it would be costly.
10. Communication Skills: my experiences have allowed me to gain communication skills that can be applied towards generating my business and making it successful.
• Valuable: this is valuable, because it is helpful to have communication skills to network with others, and get your point across effectively.
• Rare: it isn't rare to have communication skills
• Inimitable: anyone could have communication skills and apply it towards their own business
• Non-substituable: nothing can substitute the importance of communication when developing a business.

Top Resource:

• After doing my VRIN analysis, I would say my Finance Background/ Experience is my top resource for my venture. It makes my business even more personal, seeing that I have personal experience. It shows that I am credible, coming in with knowledge on the finance field, and it gives me a better understanding of my prospecting customers. With this background, it demonstrates my passion for my business, which is something that would distinguish my business from others in the venture.

Assignment 22A Elevator Pitch 3

Feedback

• Overall, my feedback was positive once again, which was very reassuring coming into my third pitch. The positive feedback regarded my confidence displayed throughout my pitch, my nonverbal communication with hand gestures, and the additions made from looking at the critiques of others. The confidence remark stood out to me once again, because it reflects my knowledge of my product, and it shows that I am getting more comfortable with presenting my business each time I complete a pitch. 
• Being that my feedback was so positive, it was important to me to carry all of these qualities into my final pitch. By my third pitch, I memorized what I was going to say which allowed the flow of my pitch to be more fluent than the others. There was also a burst of confidence and comfort of speaking in front of a camera, which increased my confidence level in this pitch. This was portrayed through a combination of fluently going through my pitch, added enthusiasm in my voice, and apparent hand gestures. Lastly, I included a prop of a card to give the pitch a visual element. Overall, I found that this tweak tied the whole pitch together, making it better as a whole. I really focused on the execution of presenting this last pitch, by practicing to ensure that it would result in the best out of the three. 

Assignment 21A Reading Reflection No. 2

Inbound Marketing by Brian Halligan

• What was the general theme or argument of the book?
• The book emphasizes the benefits of inbound marketing, where you are attracting customers in the sense that they find you, rather than pushing your business onto them. Because, as customers are becoming more prone to ignoring outbound marketing targeted at them, Halligan stresses the benefits of inbound marketing and how to effectively implement it throughout this book. Overall, Inbound marketing details how to convert people from visitors, to prospects, leads, opportunities, then customers through the use of search engine optimization, social media, and blogs. 

• How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
• I found that chapter 6 of the book most correlated and enhanced what we learned in Dr. Pryor's Lecture 20, where he discussed the role of marketing in entrepreneurship and the importance of search engine optimization and finding leads. SEO is a significant aspect in entrepreneurship, being that in order for your business to be recognized by customers, it is important that you increase the chances that your site will show up as high as possible in the search results when a user searches for a keyword regarding your business. Dr. Pryor emphasized an important aspect that was also discussed in Chapter 6 of the book, being that if the site of your company is not being found on Google, you are missing out on an opportunity to generate leads for your business. As Dr. Pryor gave an outline in his lecture of how to reach this optimization by choosing the right search term, proper use of the term, and gaining link backs, I was able to find some familiarities in the book- which gave a more in depth outline of how to improve your SEO with tips and steps of the entire process- ultimately enhancing my overall understanding of the topic. 

• If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
• An exercise that the class can do based on Inbound Marketing, would be practicing search engine optimization. In which, they would have to determine a list of keywords regarding your business, that would optimize their company's website to be on the first page of the google search. They would have to figure out the best methods of implementing these key words into their website, whether its in the url, title, page description, etc, in order to gain the best results. I believe that this exercise will be useful for students and give them a better understanding of the importance of the aspects of marketing their company in order for it to become successful. 

• What was your biggest surprise or 'aha' moment when reading the book? What did you learn that differed most from your expectations?
• I think reading this book as a whole was an 'aha' moment, because it made me realize how effective inbound marketing really is today. Everyone has the idea that marketing is all about promoting your product in order to get others to buy it, using a ton of techniques to reach your potential buyers like advertising, telemarketing, direct mail, etc. Though, with these traditional marketing techniques, consumers today are most likely more prone to ignore and avoid these promotions, making the marketing strategy less effective. Though, as technology has become a part of our everyday lives, we don't even realize that the actions we do through the internet and social media daily is what inbound marketing is all about, which makes it so effective today. In which, as we are constantly shopping and gathering information through our search engines and social media, we are being attracted to different businesses and products through our own search. Where marketers behind this using inbound marketing, just have to be sure they are prospecting their customers and implementing strategies to improve their search engine optimization in order for their business to be successful. Overall, reading this book gave me the realization of why inbound marketing is so effective today, which I considered to be an 'aha' moment because I was one of those people who instantly thought of the traditional marketing techniques when asked about marketing. I never really looked into the idea that through the constant searching on the internet and scrolling through social media on our own, it was inbound marketing taking place- being that the use of technology has been so routine for us today. In which, I feel this is why I was so interested in reading the book and gaining more knowledge on inbound marketing overall. 

Assignment 19A Idea Napkin No. 2

• Who are you?
• My name is Davina, and I am an 18-year-old freshman at the University of Florida. I am an Accounting major who intends on joining the 3/2 Program. My aspiration is to become a CPA and work in an accounting firm. After talking five of the closest people to me and reflecting upon myself, I am hard working, compassionate, self-driven, and organized. I am always one to give 110%, strive to achieve my goals, and be there for others when they need me. My past experiences with volunteer work and a three year internship at a federal credit union, have helped to further these skills that can be applied towards furthering this business concept. If I were to start this business concept, it would play a huge role in my life, knowing that I had been able to satisfy other's needs with a solution. Especially with an issue this big and expanding, it would leave a huge impact on my life.

• What are you offering to customers?
• I am offering credit/debit card users a product to help deter and prevent credit card fraud by skimming. With technological advances rising, it has become more efficient to get away with credit card fraud through skimming by hacking card readers with a small device that is able to read card information without consumer's knowing. In which, my product is solving this unmet need of the prevention of credit card fraud by notifying if a skimmer is apparent beforehand, in order to prevent the fraud. In other words, my product functions in a way that consumers will be able to check the card reader for skimmers before using, indicated by a green or red light, to avoid credit card fraud.
• (I did not make any adjustments for this part of my idea napkin.)

• Who are you offering it to?
• I am offering my product to credit or debit card users in Florida. This is mainly directed to those in Florida, because according to Credit Sesame, Florida is considered a high risk state in terms of credit card fraud, with high credit card complaints of 60 per 100,000 residents. It is among the top 3 high risk of credit card fraud states in the U.S. Eventually, I will then venture out my business to market in other states. As for the targeted market in Florida, I am specifically offering the product to those who use a credit or debit card, because they are the ones that skimmers target. 

• Why do they care?
• Card users care and will be interested in my product because all of the incidents with credit card fraud through skimming have one thing in common: the victims of fraud were unaware of when it had happened. That is what has makes skimming so successful, the fact that skimmers are able to steal credit card information from consumers through card readers without them even knowing. In which, this leads to the notion that consumers are never really fully aware until after the damage has been done. Therefore, with this common problem of not exactly knowing of whether they are facing fraud or not, consumers will seek my solution of preventing the fraud before the damage can be done. In which, my product will appeal to consumers, as they will be able to become aware of the issue before the issue of skimmers can negatively affect them. My product will situate the issue by allowing consumers to evidently be notified with a distinct green or red light, of whether or not they should be using the card reader. This precaution will help reduce the amount of credit card fraud through skimming. 

• What are your core competencies?
• For what I know, there is one leading competitor which is EMV chip cards. This high technology chip that is implemented on the new generation of cards, provides added security against fraud. Which is why, cards with EMV chips have been in high demand and card readers have added chip readers as well. This just shows that people are seeking solutions to avoiding credit card fraud in every way they can. Though, a major issue with EMV chip cards is that skimmers have found ways around it, and EMV card users are still in risk of fraud. Although the risk with EMV chips is lower than traditional cards, the risk is still there as many people are still facing fraud. This is important to note with my product, to be ready for skimmers looking to find their way through my product, in which I would have to be adaptable to. 
• In which, overall, this idea is set apart from everyone else, as although there has been steps towards preventing credit card fraud through skimming, the problem is still occurring. My solution is able to solve this issue by preventing the fraud beforehand, with the ability to check for skimmers. Whereas, other solutions in the past- including the avoidance of using card, being cautious of where you are inserting your card, and or EMV chips- have helped to lower the risk of fraud, but have not completely prevented it. 

• Evaluation
• Overall, I think that these elements work well together with the unmet need, targeted customers, reasoning, and solution. Though, one major drawback is the production of this product. I do not have any connections with people that can drive the product forward, as it is a complicated concept that would need to require professional technology. In which, this is why I would plan to start in one specific area first, then wait to see if my business can branch out. Seeing that this is a global problem, it raises pressures to making an effective product. 
• (I did not make any adjustments to this part of the idea napkin)

• Feedback Memo:
• Based on my feedback, they liked how I introduced and presented myself. I kept this in mind for my revised idea napkin, and only made a little adjustment of adding some of the strengths that five of the closest people to me said I had. I found this important to include in my idea napkin because it adds credibility and accuracy when the strengths you perceive yourself to have is also seen in the eyes of those around you. I felt like this addition was beneficial to my idea napkin.
• Another comment admired how I detailed how previous alternatives have attempted to prevent credit card fraud, but still fell short, and that credit card fraud is still an ongoing issue. I decided to build off of this feedback, and added a more detailed description of what I believed was my product's biggest competitor: EMV chip cards. With this added in my idea napkin, I feel like it gives consumers a better look on how my product is distinct from other alternatives, and how it can come on top.

Assignment 18A Create a Customer Avatar

      My avatar is 22 years old, and is a proud 4th year gator at the University of Florida. In which, she would definitely be delighted to hear that Florida happens to be one of the top three high risk states of credit card fraud... She is a Business Administration major, seeking to become a Financial Analyst. She fell in love with the business career path ever since she was a part of the Academy of Finance all throughout her high school years. She still looks up to her Finance teacher today, who she still thanks her for providing her with useful financial advice that she still currently benefits from. This influenced her decision of becoming a Financial Analyst.
      She has owned a debit card since she was 16 years old, and praises the convenience that it provides. She is fully aware of the risks it comes with, as she has always been warned to be cautious of credit card fraud from her parents and finance teacher. Though, it wasn't until she first became a victim of credit card fraud when she was 19 years old while at a gas station, that she took these warnings seriously and became more aware. On that day, little did she know that paying for gas on her card for her 2010 burgundy Honda Accord, would ultimately lead to a random $370 charge on her card from Georgia. Now, she fully avoids using her card at gas stations, and will only use her gas card or cash.
      She is very attentive when it comes to managing her money. She makes sure to constantly check her payment transactions each day, and is cautious with her spending. In which, she is a very organized, detail oriented, and dedicated student. She has devoted her enter life to her studies and has big dreams in the mere future. She is ready to make the big transition from being a part-time server at Satchel's Pizza to becoming a Financial Analyst. In her free time, spending time with her friends and family, volunteering, painting, and binge-watching Friends, Stranger Things, and Gossip Girl on Netflix. She is very close with her family, and hopes to give back one day. She loves helping them out whenever she can, giving them financial advice that she has learned and mastered over the years. Overall, she is optimistic of her college years coming to an end and of what the outside world holds for her.

• What do you have in common with her?
• I had a similar experience of being in the Academy of Finance throughout my high school years, in which I was also really passionate about and was able learn a lot financially. Like her, I am very attentive in general, and with my money. I am aware of the risks of credit card fraud, which is why I am hoping to provide a solution to the issue. Overall, I am also very organized, detail oriented, and dedicated, and I am optimistic about my future with an Accounting major at UF. 
• Do you think it is a coincidence that you have these things in common?
• I don't think it is a coincidence, because being that I am also in this segment of business/finance students, we are bound to have similar backgrounds and or qualities. Also, more people are being aware of the issue of credit card fraud through skimming now that this form of theft has become more efficient and is arising today.

17A Elevator Pitch 2

• Feedback
• Overall, my feedback was fairly positive. She stated that I spoke eloquently and that my body language was professional. I tried to keep these both in mind and carried that through my second pitch. She also mentioned that I displayed confidence and sounded like I knew what I was talking about. This stood out to me, and I am pleased with this feedback, because I feel like it is important to display confidence and be sure that you as an entrepreneur portray professionalism, confidence, and credibility. 
• Being that these comments were positive, I made sure carry all these qualities into my second pitch. Though, I also took some criticism from when we watched three other students' first pitches in class. Some key notes that stuck out to me then were to add variation in the tone of voice to engage the audience, body language, and to specify what specific target you are targeting. These were the main changes I made, as I made sure I added more enthusiasm and variation in my voice, added hand gestures, and specified that I was targeting card users in Florida. 

Assignment 16A What's Your Secret Sauce?

• Human Capital
• Generosity: I am always looking out for those around me, willing to care for them and be there for them whenever they need me. I have a big heart, and I am very altruistic and selfless, which makes up a huge part of my human capital.
• Ambition: I would say my ambition is a part of my unique human capital, as I am self-driven and motivated by my goals. I strive to succeed and will not give up until I have.
• Diligence: I would consider myself to be a very hard worker, in which I will give 110% each time in order to achieve my goals. 
• Passion: My strong passion for something heightens the other qualities that make up my human capital. When I deeply care about something, it is evident and reflected upon my work and actions, in which it pushes me to succeed. 
• Deliberation: I am a deliberative person, in which I like to take careful consideration in my decisions by weighing out the options. I like to have my actions be intentional and organized. 
• Interviews
• Interview 1: Siriya (Cousin)
• https://soundcloud.com/davina-s-928396725/interview-1/s-pNbgv
• Siriya stated that I was a very reliable person, as I am someone that you can always go to whenever you need someone to talk to or be there for you. She also said that I was a great listener. I wasn't surprised to with her response, as I am always her go to person to call whenever she needs advice.
• Interview 2: Malida (Sister)
• https://soundcloud.com/davina-s-928396725/interview-2-malida/s-IRCNb
• My sister addressed my selflessness of always helping others, including herself, and my hard work. She finds that I am always helping her whenever she needs me to as well as others. I find this to be really spot on, of describing my human capital. 
• Interview 3: Mom
• https://soundcloud.com/davina-s-928396725/interview-3-mom/s-K8lfU
• My mom described me to be very hardworking, committed, and caring for others. She said it well when she stated that I am always willing to help others. Her insight on these traits portrayed by me is clear when she sees me helping my little sister out all the time.
• Interview 4: Farah (Roommate)
• https://soundcloud.com/davina-s-928396725/interview-4-farah/s-UrCJF
• My roommate simply described me to be encouraging, as I am always uplifting. I always try to motivate her whenever she's feeling down and encourage her to do her best. 
• Interview 5: Dad
• https://soundcloud.com/davina-s-928396725/interview-5-dad/s-Vp5vc
• My dad pointed out that I am compassionate, selfless, and hardworking. He sees me as always wanting to help others and as being very serious with my work. I also agree with his response, as I feel like it is very similar to what I said.
• Reflection
• Overall, I found it interesting to see the very similar correlation between the way I see myself and how others see me. Within all five interviews, they were all similar in a sense of describing my human capital. What stuck out the most throughout all the interviews, was my compassion for others. It seemed to be a very common response, they all stated that I am willing to help others, be there for others, and or encourage others. Nobody mentioned deliberation, which is one of the aspects I found to be a part of my human capital. I think this is because it is more of an internal aspect that I don't really portray towards others, whereas my selflessness and hard work is very evident. One thing I didn't consider myself to be was encouraging, stated by my roommate. She finds me to be uplifting and optimistic, which I found interesting. Overall, I wouldn't change anything from my list, as it is evident that what I portray myself to be is also seen in other's eyes. 

Assignment 15A Figuring Out Buyer Behavior 2

• Report Findings
• I found these three interviews to be very similar to my previous interviews within my segment of business students. This just shows that this segment carries a lot of similar preferences and ideas. All three of my interviewees are currently Accounting majors. The list of alternatives to using card as a method of payment, gathered from these interviews were pretty familiar, being that they all stated cash payment as the alternative just like all of the interviewees in my previous interviews. Throughout the interviews, the common response of how they determined of whether or not to go to the alternative was based on their surroundings. Two of the interviewees stated that depending on whether or not they were in a skeptical location, would determine their payment method. One thing that they all agreed on though, was that card payment was much more convenient, as they did not always have cash on them. This was another factor that is put into consideration of their decision of payment method, being that it depends if they even have cash on them or not. When it comes to the product itself, they said that would look more into quality over price. They feel as if the product is functional and exceeds expectations, they are willing to pay the price. Though, my third interviewee pointed out that even though she seeks quality, she is not willing to pay if the price is overly unreasonable. 
• The common place transactions would occur is in store. They all agreed that they would prefer to buy the product in store, being that they are unfamiliar with it and that it is tangible, so they can observe its qualities and evaluate it before buying. One interviewee addressed that she would be more drawn to the product if it were in store. In which, they also agreed that they would use cash to pay for it, rather than financing it. 
• Based off of these interviews, when my customers are looking back at their purchase, they are mostly seeking to see if it meets and or exceeds their expectations and satisfies their needs. If they are getting what is being sold, and if the product solves their problem they are satisfied with the purchase. Though they will be disappointed if the product doesn't satisfy these needs or leaves no positive impact. Libby, one of my interviewees, gave the example of if she were to still be scammed after using my product, she would be disappointed. 
• Draw Conclusions
• Within this segment, when it comes to alternatives there aren't very many. It is between card payment and cash payment. Though one thing that this segments seeks for is convenience, being that is why card payment is the more popular and preferred method. I will keep this in mind, to make sure that the use of my product is quick and efficient, to meet my consumer's needs. As for purchase decision, they lean more towards being able to actually evaluate the product to make their considerations. Lastly, their post-purchase evaluation relies heavily on whether or not the product meets/exceeds expectations and if it satisfies the needs. 

Assignment 14A Hallway Reflection

1. Tenaciousness is a competency:
• My organizational and time management skills have been beneficial in fulfilling the requirements for this class. As this class requires weekly assignments, cupcakes, two lectures per week, and peer reviews, it is easy to fall behind if you wait to complete these last minute. Therefore, being able to organize a schedule and complete these assignments in a timely manner, has allowed me to keep up with these requirements and not fall behind. In which, the work required for this class isn't something that can be completed in a matter of an hour, as the work has to be planned ahead and spaced out, in order to produce the best work, for instance when conducting interviews.
2. Tenaciousness is also about attitude:
• There were many times where I felt like giving up in this class. These feelings mostly occurred during the weeks of when I had an exam in another class, as the two contradicted. My main focus would be on that exam, where my stress was at its peak, which subsequently led to me being behind on my schedule of completing the assignments in this class. Nonetheless, I would feel unmotivated to even complete the assignment. Though, I had this inner motivation of succeeding and working hard to achieve my goals, that pushed me to not give up. I did not want to fail, and I knew that if I had given up I would have been disappointed in myself. Also, the tenacious attitude that I developed in the past 2 months pushed me to pull through and complete my assignments and study hard to pass the exam. This tenacious attitude was built upon both this class and the adjustment of UF, knowing that it takes hard work and determination to achieve what you want in life.
3. Three tips:
• It is without a doubt that you'll find yourself having to balance between work from different classes, jobs, extracurriculars, clubs, sports, and life in general. Therefore, I would advise that you develop the skill of time management. Making sure that you are on top of things and organizing a schedule to avoid procrastination will help you balance everything out. This is extremely helpful in this class!
• Set goals! This will help motivate you to achieve this goals, especially at times when you want to give up. By setting goals for yourself, you are motivating yourself work hard, do your best, get the job done, and you are developing a tenacious mindset.
• Don't try to find loopholes or shortcuts when completing the assignments. You will benefit more in the long run if you actually complete all the steps to the assignments and watch the lectures. As long as you are on top of things, this shouldn't be a problem. 

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Assignment 13A Reading Reflection No. 1

1. You read about an entrepreneur: The Wright Brothers by David McCullough
• What surprised you the most? 
• What surprised me the most was the amount of time, effort, and determination that was put into successfully creating flight. In which, their grit opened my eyes and gave me a new perspective of what passion and determination can lead to, and how it can strive you to achieve your goals. They spent hours studying, reading books, becoming familiar with the language of aeronautics, observing birds and learning from them, as well as putting several hours into building and rebuilding until they succeeded. Also, the fact that they started from nothing- "no college education, no formal technical training, no friends in high places, no financial backers, no government subsidies, and little money of their own"- and the risk of danger they were willing to take, was truly mind blowing and inspiring. 
• What about the entrepreneur did you most admire?
• As mentioned before, the Wright Brothers characterized a tenacious and hardworking mindset with grit like no other. In which, I admire their determination and persistence of never giving up. Coming into it, they were aware of the previous fails in attempts by previous entrepreneurs, one even resulting in death, and were unfazed. When it came to their own failures, they didn't give up and kept rebuilding until they got it right. Even when others viewing their test trails found the attempt to have been a success, the brothers still went on to rebuild until they were satisfied and saw success in their own eyes. 
• What about the entrepreneur did you least admire?
• There isn't really anything that I can say that I least admire about the Wright Brothers. Though, it may have seemed liked Wilbur had most of the spotlight, doing all the gliding in their test trials and being left to take on the public roles when it came to public speaking because Orville was painfully shy. Though, Orville was very helpful behind the scenes, when it came to building the aircraft. In which, they balanced each other out and worked well as a team, and I would hate to see if they were viewed as one being superior to the other. 
• Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
• The Wright Brothers did encounter adversity and failure before they could succeed. In which, their first flight at Kitty Hawk had many failed attempts that resulting in them having to go back to the drawing board, figure out what went wrong, and rebuild until they go it right. There were even times when others present in their test trials had viewed their flight to be successful, but to the brothers, they would find it disappointing and go back to fix the problem and rebuild. In which, their tenacity became evident through these failures, and they ended up coming out on top and stronger as a result of this adversity. 
2. What competencies did you notice that the entrepreneur exhibited? 
• I think that the brothers exhibited their own competencies that came together to make them such a great team, and become successful. As Wilbur was competent in leadership, which made him such an exceptional public speaker for the two and was able to attract attention when taking the public role, Orville was more shy, but more naturally entrepreneurial and had remarkable "mechanical ingenuity" that played an important role in all of their projects. Being able to work together and build upon each other's strengths was evident in their work, and was a significant aspect of their success.
3. Identify at least one part of the reading that was confusing to you
• One thing I found confusing was when the brothers were testing their aircraft at Kitty Hawk, and had people present at their trial. When they had successfully sailed 100 yards, everyone found the trial to be successful except the brothers. I am curious to know at the time, what they would have been satisfied with. In other words, I wonder how they determined what was successful in their own eyes, despite the affirmation from others that it was successful. 
4. If you were able to ask two questions to the entrepreneur what would you ask? Why?
• Seeing the death of Lilienthal after his attempt of flight, what drove you to continue with your attempts, even after acknowledging the risks that came with it? I would like to know to what extent of risk are entrepreneurs willing to take to become successful with their business, and what drives them to take this risk. Is there anything that you felt like you could've changed or done better during your times of building and trial? I would like see an entrepreneur's perspective of reflecting upon their own actions, and how they learned from it. As, experience plays a huge role in entrepreneurship I think it is important to reflect back and see what you can improve to be successful in the future, and grow upon your mistakes.
5. What do you think the entrepreneur's opinion was of hard work? Do you share the opinion?
• I think that they're opinion of hard work is that it is driven by the goals you set, and that you have to go beyond the obstacles. They were great advocates of hard work and perseverance as they always continued to work harder each time they failed. With this mindset, they saw no obstacles to be too difficult to overcome, and had their head held up high all throughout their journey. When Orville would be ask "Were you scared?" he would respond, "Scared? There wasn't a time." That right there summarizes their attitude and outlook on hard work that allowed them to reach their goals. I can't say that I have that quality of being able to take risks, though I do share their opinion of hard work. I find that if you push yourself to never give up and set goals for yourself, you are on the path towards succeeding. 

Assignment 12A Figuring Out Buyer Behavior No. 1

• Segment:
• I chose the segment of business educated students (current business majors or have taken previous business classes). All three of the people I interviewed had a business knowledge background. One is a current General Business major here at the University of Florida, one is a current Accounting major at the University of Florida, and the last one was the Academy of Finance Ambassador of her high school and a member of the Academy of Finance for all 4 years.
• Interviews:
• The first girl I spoke with who was the General Business Major had the unmet need of preventing credit card fraud through skimming. She noted that this unmet need is most satiable when she is paying at the gas station or other sketchy places. She says that she doesn't really pay attention to the need however, when she is using her card at places she is more comfortable with such as Publix, the mall, on campus, etc. When she is at the gas station though, her concern of being skimmed rises, though she still pays with card anyway and hopes for the best, since she has no other option. She claims that if she carried cash with her, she would use it as an alternative method of payment at times like those. She says she doesn't search for solutions on the Internet, however, she occasionally finds articles in the news that pop up that inform her of credit card frauds through skimming that is happening. Her solution is being aware, yet she admits that she does not take any physical action into solving the problem as she pays with the card anyway, even if she is hesitant. If she is really concerned, she says she would call her parents for help.
• The second person I spoke with is a first year Accounting major student, who also has the unmet need. She says she has this need whenever she uses her card. It is most satiable when the card reader does not have the chip reader, and requires her to slide her card. She states that she feels most comfortable with using her card when she is able to insert her card with the EMV chip. Whenever she comes across a location that does not take chip, such as gas stations, she says she has no other choice but to slide her card and hope she doesn't get skimmed. Though, if she has cash on her she would rather pay with it. Her main source of solutions is her parents, since her account is connected with theirs. She doesn't really look to other sources for a solution, as she relies on her own judgment. She feels that skimming is inevitable, unless you pay with cash, which she doesn't have on her all the time. 
• Lastly, I spoke to a friend who was also in the Academy of Finance. In fact, she was the ambassador of the academy. She says that being in the academy raised her awareness of being more cautious when using her card. The unmet need is most satiable for her whenever she is unsure about the location of where she is paying, like at a gas station. She prefers to not use her card at these sketchy locations, but sometimes does anyway, as it is convenient. She feels that it is difficult to prevent a skimming from happening, as there is no way of telling, so she just uses her card anyway. Her solution is just being aware, and if it comes to the point where she needs to contact someone, she would contact her parents.
• Conclusion
• Based on these three interviews, I learned that the common issue that comes with skimming is uncertainty. Even with the awareness that they are at risk of skimming, consumers are uncertain of whether or not they are facing fraud and come to the conclusion that credit card fraud through skimming is inevitable. In which, I feel that my product would come in high demand due to this common issue among the customers. As for this segment in particular, I found that the ones with a business background and had financial knowledge were more aware and cautious of the problem, but still found the problem to be inevitable. In which, even though they knew that they could be at risk, they still used their cards because it is their preferred method of payment or they have no other option. 

Assignment 11A Idea Napkin No. 1

• Who are you?
• My name is Davina, and I am an 18-year-old freshman at the University of Florida. I am an Accounting major who intends on joining the 3/2 Program. My aspiration is to become a CPA and work in an accounting firm. I would consider myself to be self-driven, hard working, detail-oriented, organized and I obtain leadership qualities. My past experiences with volunteer work and a three year internship at a federal credit union, have helped to further these skills that can be applied towards furthering this business concept. If I were to start this business concept, it would play a huge role in my life, knowing that I had been able to satisfy other's needs with a solution. 
• What are you offering to customers?
• I am offering credit/debit card users a product to help deter and prevent credit card fraud by skimming. With technological advances rising, it has become more efficient to get away with credit card fraud through skimming by hacking card readers with a small device that is able to read card information without consumer's knowing. In which, my product is solving this unmet need of the prevention of credit card fraud by notifying if a skimmer is apparent beforehand, in order to prevent the fraud. In other words, my product functions in a way that consumers will be able to check the card reader for skimmers before using, indicated by a green or red light, to avoid credit card fraud.
• Who are you offering it to?
• I am offering my product to credit or debit card users in Florida. This is mainly directed to those in Florida, because according to Credit Sesame, Florida is considered a high risk state in terms of credit card fraud, with high credit card complaints of 60 per 100,000 residents. Eventually, I will then venture out my business to market in other states. As for the targeted market in Florida, I am specifically offering the product to those who use a credit or debit card, because they are the ones that skimmers target. 
• Why do they care? 
• I believe that people will purchase my product because all of the incidents with credit card fraud through skimming have one thing in common: the victims of fraud were unaware of when it had happened. That is what has makes skimming so successful, the fact that skimmers are able to steal credit card information from consumers through card readers without them even knowing. In which, this leads to the notion that consumers are never really fully aware until after the damage has been done. Therefore, with this common problem of not exactly knowing of whether they are facing fraud or not, consumers will seek my solution of preventing the fraud before the damage can be done. In which, my product will appeal to consumers, as they will be able to become aware of the issue before the issue of skimmers can negatively affect them.
• What are your core competencies?
• This idea is set apart from everyone else, as although there has been steps towards preventing credit card fraud through skimming, the problem is still occurring. In which, my solution is able to solve this issue by preventing the fraud beforehand, with the ability to check for skimmers. Whereas, other solutions in the past- including the avoidance of using card, being cautious of where you are inserting your card, and or EMV chips- have helped to lower the risk of fraud, but have not completely prevented it. 
• Evaluation
• Overall, I think that these elements work well together with the unmet need, targeted customers, reasoning, and solution. Though, one major drawback is the production of this product. I do not have any connections with people that can drive the product forward, as it is a complicated concept that would need to require professional technology. In which, this is why I would plan to start in one specific area first, then wait to see if my business can branch out. Seeing that this is a global problem, it raises pressures to making an effective product. 

Assignment 10A Elevator Pitch 1

Assignment 9A Testing the Hypothesis Part 2

• Who: There are some people that fall outside of my market, even though they share a lot in common with those inside the market. For instance, those who have a preferred payment method of cash, and do not use debit/credit cards, do not have this unmet need of preventing credit card skimmers, as they avoid the skimmers with an alternative payment. Since they are paying with cash, they do not have the concern that their card information will be stolen and don't have to face fraud. Though, they have a similar concern of making sure their cash does not get stolen. There are also those who are debit/credit card users, but are simply unaware or don't have the concern at all.
• In which, three of the people I interviewed that preferred cash payment came into agreement that with their method of payment, they did not have the concern of card fraud. They stated that although card payment is more efficient, paying with cash is a good way to avoid the risks that come with card payment. 
• In my fourth interview, the girl I talked to preferred paying with her debit card, but did not have any concern for skimmers. By this, she explained that she never really payed attention to being cautious with her card. Though, she feels that this interview gave her some perspective to be more aware, and supports my solution to the idea. This gave me insight that although my prototypical customer is towards debit/credit card users, not all users will feel like they have the need, as they don't really have the concern. 
• This interviewee goes back and forth from using her debit card and paying with cash. She'll pay cash when she feels like she's in a sketchy place, and use her card when she feels more comfortable. She is satisfied with her solution so far, but admits that it is hard to judge whether her card is at risk or not. She states that she will also be satisfied with my solution. 

• What: My solution will help to prevent credit card fraud and theft through skimming, but not completely prevent credit card fraud and theft as a whole. Meaning, there are other ways that credit card theft can happen, I am just focusing on the need of preventing it through skimming.

• Why: I don't think that the need between the two (insiders and outsiders of the boundary) are necessarily different, as they both want to avoid credit card theft. It's just a matter of those inside the boundary have this unmet need and would most likely be the consumers of my product, and those outside are satisfied with how they are preventing the problem by paying with cash, and wouldn't need my product. 

	Inside the Boundary	Outside the Boundary
Who	Debit/Credit card users Those with the concern of credit card fraud	Cash users Those who don't have the concern of credit card fraud or unaware
What	Prevent credit card skimming	Completely eliminate credit theft
Why	Skimming is a common form of credit card theft There is a risk of facing credit card fraud unknowingly every time you slide your card into a reader As technology advances, the amount of skimmers are increasing, as it is an efficient way of credit card theft	Skimming can be avoided by paying with cash There are many other ways of credit card theft

Assignment 8A Solving the Problem

• Selected opportunity: 
• The opportunity that I have chosen is credit card fraud and theft through skimming. In which, I would like to provide a product/service that prevents the skimming that leads to this fraud and theft.

• Solution: 
• I want to provide a product that will allow credit/debit card users to detect skimmers before the skimmers are able to steal their information. The product is a thin clear plastic cover that takes shape of a credit card, in which the consumer can place over the card. So basically, a thin plastic case covering the credit card. The cover will have built in technology that will able to detect a machine clear of a skimmer. With this on the card, the consumer can check for skimmers before using their card, by inserting their card with the case on into the machine reader, and if the plastic turns green, the machine reader is clear of skimmers. Though if it turns red, it indicates a skimmer on the machine. Once the machine is clear of skimmers, the consumer can slide the card out of the case and use their card without the concern and uncertainty of whether a skimmer is in the machine. 

Assignment 7A Testing the Hypothesis

 Credit Card Fraud Through Skimming Prevention

• Opportunity: Each day, card payment users are prone to credit card fraud and identity theft because easy availability to skimming devices grants easier opportunities for skimmers to steal credit card information through card readers.
• The who: Credit/debit card users
• The what: They are prone to credit card fraud and identity theft
• The why: Easy availability to skimming devices allows skimmers to easily steal credit card information through card readers.

• Testing the who: Identity theft is prone to everyone, as thieves are able to manage to steal social security information as well as other personal information through phishing. However, I think that credit card fraud through skimming is targeted more towards card payment users, as they are the ones that skimmers are able to target easily. In which, overall identity theft is open to everyone, but the "who" that share this unmet need of the prevention of credit card fraud through skimming, is more limited to credit/debit card users.

• Testing the what: Skimmers are able to adapt to any changes or preventions, and still manage to find a way to skim users. Not every credit/debit card user experiences the need, as they feel unthreatened to credit card fraud, or avoid using their card. Also, the latest standard in credit card security, the EMV chip, has been beneficial to the security and prevention of fraudulence, though the problem is still evident.

• Testing the why: Credit/debit card users may claim that credit card fraud is an ongoing issue due to the easy accessibility to skimming devices, sketchy locations and unprotected card readers, and the skimmers' motive to steal money through fraud and theft of card information. 

• Interview #1: In this interview with a current UF student, the girl had a preferred method of payment of using debit. She agreed that this opportunity exists, and found that the need was necessary after hearing credit card fraud and theft occur all the time on the news. Though, what raised her concern for the need was when she witnessed a close friend of hers become a victim of credit card fraud. The friend purchased a water bottle at a store in an airport in New York, to then find an unknown charge of $500 on her card later that day. Since then, she has had this fear and extra caution of her surroundings when using her card. She feels that the fact that her friend was skimmed at an airport shows how unpredictable credit card skimming can be in terms of when, where, and why, which is scary.

• Interview #2: In this interview with a current UF student, I was able to discover that the girl's dad deals with credit card fraud on a daily basis in his job. She said that he deals with credit card fraud all of the time, as it is a very common problem. With this, she is scared of credit card fraud and identity theft, seeing and hearing the common issues that her dad has to deal with. She states that although it has never happened to her, she wants to make sure it stays that way, so she is very cautious of where she uses her card. She says that her goal is to not get skimmed, although there is a high possibility that it could happen anytime. In which, she says that it is important to check your balance daily, and catch the problem as early as possible.

• Interview #3: In this interview with a current UF student, the girl prefers credit card payment. She says that although she personally had never been a victim of credit card fraud, she still has a concern and fear of the fraud, after seeing it happen to other people all the time. This interviewee has known many people who have experienced credit card fraud, and has also seen it on many news articles. She states that unfortunately she doesn't pay attention as much as she should, though every time she hears a story about credit card frauds and skimmers, her concern level raises again and she becomes cautious. Though, she does not want to experience the fraud and theft and hopes for a solution so she doesn't have to worry.

• Interview #4: In this interview with a middle-aged male, I was able to discover that he had experienced credit card fraud first handedly. After having his credit card for a number of years, he was blindsided the first time he experienced the fraud, when he noticed a large unknown purchase on his card. He claimed that using his card without any concern or awareness of fraud had previously been a routine for him, until this first encounter of skimming. Since then, he found himself more aware of using his card at sketchy locations. Though, he states that even then, he still found himself being a victim of credit card fraud. He feels that being cautious of where and how you use your credit card is beneficial, but it does not avoid your encounter with credit card skimmers.

• Interview #5: In this interview with a new debit card user, I was able to discover her concerns with fraud even before she got her card. The interviewee had just recently gotten her debit card a few months ago, but had the concern for fraud even before getting the card after seeing some of her close ones be encounter fraud. She said that knowing this raised her concerns about paying with card, so during her first few weeks of using her debit card, she was very skeptical. "I wouldn't insert my debit card anywhere, and if I did, I would try to avoid typing in my PIN with my fingerprint. I don't know, I was just terrified that someone steal my card info." Though, now she is a frequent card user, but she tries to remain cautious. 

•  Post-interview: What do you know about the opportunity that you didn't know before?
• Based on these interviews, I see the correlation of the problem and the concern for the problem. The more the card users hear about the problem happening to other people, the more their concern and caution for their card usage increases. From this, I was able to detect that those who had first handedly experienced credit card fraud or those who personally knew someone who had first handedly experienced the fraud, had a higher concern for the fraud. These were the ones who were more cautious of using their card. Though, I realize that not all credit/debit card users have a concern for credit card fraud because it either has not yet happened to them, or they do not feel threatened. However, it is important to note that all interviewees were aware that credit card fraud occurs all the time.