Assignment 30A - Final Reflection - Darren Liebegott

Assignment 30A - Final Reflection - Darren Liebegott

1) After reviewing my blog for the semester, I do recall having some initial reservations when trying to complete the first couple assignments that required customer interviews. However, as I progressed through the course, I became more comfortable with doing the interviews, and I actually began to enjoy them as I was receiving valuable feedback. The book reviews were also challenging to complete within the time frame that they were due, along with work and other classes. Altogether, these were stretch exercises that helped me to grow, and I appreciate what I have learned along the way.

2) The most formative experience that I can take away from this course is the venture concept exercises. They helped me to think deeper about my business idea, and I also had to incorporate what we learned along the way to provide a detailed account of my venture concept. The elevator pitch exercises were also helpful, because they force you to explain your business to people, and there is just something about reviewing that exercise in your own words.

3) By the end of this semester I feel like I have developed a more entrepreneurial mindset. I have always had a knack for spotting problems that could potentially be good business ideas, but this course refined the way that I think about that process. I really enjoyed the way that Dr. Pryor broke down the process for us with real world examples. I think that will be one of the most valuable takeaways from this course.

4) A recommendation that I would make to future students of this course would be to keep an open mind about the process. Dr. Pryor lays everything out for you, and all you really need to do is be creative with your responses to the assignments. That creativity is what really fosters the entrepreneurial mindset. So just lose yourself in the moment, and you will be surprised with what might be waiting for you inside your mind.

Assignment 29A -Venture Concept No. 2 - Darren Liebegott

Assignment 29A - Venture Concept No. 2 - Darren Liebegott

1) Revised Venture Concept:

Opportunity: The opportunity that I have found for my venture concept is based on the fact that many people are looking for ways to save money on their cable, internet, and cellular services. This need is important for many different groups of people, although at first it will be marketed towards middle-class families who live on a strict budget. The forces or changes in the environment that are creating this opportunity are the amount of competition in these services industries, and the rising costs of these services as well as other household commodities. This market is based mainly in suburban areas, and is made up of people from a wide array of ages, including teens all the way up to middle-age people and senior citizens. Customers are currently having to switch services to save money, which is not ideal for the customer or service provider. This opportunity has the potential to be big based on the interviews that I have conducted. Most people feel that their services are over-priced. The window of opportunity for this business is wide, however, many competitors could cause concerns with the passage of time.

Innovation: This service is innovative because it is a fairly new concept for these industries. It is a mediation service that is used to negotiate price and service contracts for customers and their service providers. This will bring value to both the customer and service provider by removing the headaches of these negotiations, allowing the provider to focus more on the quality of their services while also continuing to keep longstanding business relationships with their customers. The service will be rendered to customers at a fee, which will not be charged unless the customer saves a significant amount annually on their services.

Venture Concept: Customers will try this service as an opportunity to save money each month. Once the concept takes root, word of mouth advertising will be a key catalyst for driving revenue. Some competitors include smaller service providers that already offer low priced services. Their weaknesses are that their services are of lower quality, and they cannot reach as many customers as the larger service providers who tend to charge more for their services. Customers will trust my service to get them the best price for their service at the quality they expect. The roles that will be created for this service will be that of IT Manager, Chief Operating Officer, and customer service support staff. The service will be introduced on a website, and there will also be an 800 hotline for customers to forward their questions.

Three Minor Elements: First, the most important resource for this business is the social capital that will be included in the beginning phases of the business. This service will require professionals with industry knowledge and dedication to the cause of saving our customers money. Second, after the business becomes successful, the plan will be to begin franchising it out to entrepreneurs. By doing this we can increase our revenue exponentially while continuing to provide excellent customer service from a proven framework. Third, the next thing that I plan to do as an entrepreneur is to begin creating new business ideas to work towards. This first venture will give me the necessary knowledge of building and growing a business so that my future ventures will be successful.

Summary of Feedback: The feedback that I received on my first venture concept assignment helped me to create a more specific plan this time around. Most of the feedback that I received was positive, giving me a boost in the perception that this venture can be successful. Many other students feel that this service is a good idea, and that is encouraging to hear from my peers.

Changes: The changes that I made to my venture concept were minor, however, they helped me to narrow down my concept and become more specific with my plan. The advantage of doing this assignment twice, for me, was that it helped me to resonate further with my idea. I think this type of repetitive practice is what changes a concept from being good enough to great.

Assignment 28A - Your Exit Strategy - Darren Liebegott

Assignment 28A - Your Exit Strategy - Darren Liebegott

1) The exit strategy that I plan to use for my business venture in the next five years will be to create a franchising system that can be sold to aspiring entrepreneurs. I believe the business that I have chosen can be designed to be successful for the right person that subscribes to the process. There will be a great need for business mediators in the future, and this will provide an opportunity for entrepreneurs to act on their motivations to be self sufficient.

2) I have selected franchising as an exit strategy because it continues to increase the value of the business while giving me the opportunity to manage from a distance with a more hands off approach. After putting in the hard work of creating, starting, and maintaining the business, it will be nice to realize a profit without the need to run the day-to-day operations of any one business.

3) My exit strategy has helped me to look at the business as more of a tool than a way of life. While having my first official business will be amazing, I believe you should be always moving forward and trying to achieve more. With this type of exit strategy, I am not only offering myself the opportunity to dedicate more of my time to other ventures, but I am also able to continue reaping the benefits of my hard work. I think it is important to find ways to sustain your own business ventures, and this is a way to build further businesses from the profits of my first venture. Once I have gained enough from the business, I will consider selling it entirely for a nice profit.

Assignment 27A - Reading Reflection No. 3 - Darren Liebegott

Assignment 27A - Reading Reflection No. 3 - Darren Liebegott

The book that I chose to read and reflect on for this assignment was Cognitive Surplus, by Clay Shirky.

1) The general theme or argument of this book is that people can benefit from the constructive uses of social media. Shirky claims that in recent years, young people have begun to dedicate more of their time to using technology for collaborative and creative purposes, rather than simply binge watching television shows they are using technology to become problem solvers. The cognitive surplus is the amount of intellectual gain that a person can achieve on their leisure time through reading, writing, and other sources of cognitive exercise. Shirky argues that technology is making people naturally exercise more of their cognitive skills, which in turn is raising their cognitive surplus.

2) This book connected with and enhanced what I have been learning by illustrating the importance of distance collaboration. As a UF Online student, I have many opportunities to collaborate with fellow students and staff via online platforms. This book argues that the use of this online collaboration helps to foster creativity and motivation, which was encouraging considering the amount of time that I have spent using it for my online education.

3) If I had to design an exercise for this class based on this book, I would encourage students to collaborate online to create a website for the class that could be used as a free-form sharing platform for business ideas, and thoughts. I think this type of exercise would be a good simulation for what students could be involved with in a real world remote working environment. As many people are having to adapt to working from home now, this knowledge could prove to be valuable in the near future.

4) The biggest surprise that came to me from this book was just how important that I realized social media actually is now. I use various social media platforms, and I am quite resourceful with technology, but I never really considered the way that these forms of technology are actually shaping the way that we learn and collaborate as a society. Understanding that technology helps us to relate with one another and test out nearly infinite ideas almost instantaneously as a species, is quite remarkable when you stop to think about the actual impact that it is having on society.

Assignment 26A - Celebrating Failure - Darren Liebegott

Assignment 26A - Celebrating Failure - Darren Liebegott

1) Something that I failed to do during this past semester is find the time to rebuild the privacy fence on the back side of my property. After the storms that we had this past hurricane season, my fence has been leaning to one side, and I have been meaning to put some new sections up to minimize the damage. However, between work, school, and other family functions, I have failed to fix it just yet. I plan to work on completing this task between this semester and the start of Summer C.

2) Something that I learned from this experience is that while it seems as if I never have time to complete this task, in reality there have been times when I could have gotten the job done but chose to do other things. I have realized that the sooner I finish the fence, the sooner I can focus on more important tasks and not have to worry about doing it.

3) It is difficult to admit that we fail at things, but if we learn from the experience at least something positive can come from it. I tend to handle failure by trying to focus on getting better on something else, like exercising more, or planning different study habits. While these are good traits to utilize while recovering from failure, they still don't fix the initial problem. This class has helped me to realize that failure is an inevitable part of succeeding. Failure just proves that you are putting yourself out there enough to experience growth opportunities in your life. I plan to handle my failures head on after this semester. As soon as I see that I may be failing at something, I will work towards correcting it immediately rather trying to wait for the right time, in which there may never be.

Assignment 25A - What's Next? - Darren Liebegott

Assignment 25A - What's Next? - Darren Liebegott

Existing Market:
The existing market that I chose for my venture was families in suburban neighborhoods that need to follow a close budget. In order to grow this market, I will need to reach these families through advertisements and social media campaigns. Another way that I can encourage growth in this market will be to give discounts to customers that refer friends and families to the service.

Given the high demand for lowering the prices of internet, cable, and cellular services, there will be many opportunities to attract new business to the service via front-line advertising. This can be accomplished by handing out flyers at community events and by advertising in local businesses. With a focus on growth, I will be able to create an environment that builds upon the existing market that I will target to start this venture.

New Market:
After establishing my venture in the suburbs, I will target young, professional adults. Possibly those that have recently graduated from college and are working towards building a future for themselves. This new market interests me because even though these may not be the prototypical customers that are conscious of their spending habits, it will be in there best interests to take advantage of this service at a young age. By helping to educate them on the importance of savings, and creating flexibility in their budget, I will be helping to foster a more financially aware society.

I expect that once I have enough customers in this new market, it could potentially be the dominant market for my business. I chose this as a secondary market because I feel that targeting families first gives me a better chance of sustaining the business in the beginning. However, this new market could prove to be dynamic and help to create even more revenue streams in the future. I am excited to see what the possibilities are for both of these market segments in the near future.

Assignment 24A - Venture Concept No. 1 - Darren Liebegott - Services For Less

Assignment 24A - Venture Concept No. 1 - Darren Liebegott - Services For Less

Business Name: Services For Less

Opportunity:
The opportunity that I have realized through my business concept is that many customers of cable, internet, and cellular providers are unhappy with the rates they pay for these services. The forces in the environment that create the opportunity for my venture concept are that there are not many mediators that negotiate on the behalf of customers with regards to these providers. The market that I have chosen, both geographically and demographically, is primarily families in suburban areas that need to stay within a specific budget with their service costs. Many of the potential customers that I have interviewed have showed much interest in this mediation service. This opportunity has much potential since there are not many out there like it. The window of opportunity for this service is undefined, but it is important to act fast, as other entrepreneurs could be planning similar ventures.

Innovation:
The service that I am creating is innovative in that it helps to level the playing field between service providers of cable, internet, and cellular providers and their customers. This is accomplished by signing customers up to our service through an online platform, and via telephone hotline services. Once our customers have subscribed to the service, we work on the customer's behalf to find them the best rate for their services at a nominal fee. If we are unable to save the customer a set amount per month we will allow the customer to continue using our service for free until they are saving a certain amount per month. There will be different pricing tiers based upon the needs of the customer, and the amount of negotiating necessary to provide them with the rates they need.

Venture Concept:
During the beginning phases of this business, it will be challenging to gain the amount of customers that the service needs to sustain it. We will run promotions that give the service to customers for free and rely on word of mouth advertising from these customers. We will also use social media to push the brand name and help to gain loyal customers this way. Once the word is out that customers are saving hundreds of dollars per year by using our service, it will become easier to gain customers, and to also charge the appropriate rates. Competitors of this service are some of the low-end providers that already charge low rates. They have the advantage of providing the service at a low rate without the need for mediation. Their weakness is that they do not have the resources to reach all of their customer base to provide top-notch services, whereas we do not have to provide the actual services, rather we only negotiate the best rate for the quality of service that the customer requires. Another strength that my business plan provides is that it is not reliant on a physical location. Much of what needs to be done is customer support and technical, this provides the ability to outsource work or even work remotely. The most important aspect of this business is that we help customers save money while helping them to secure the services they need for their businesses and personal needs. Ongoing support for this business will be a continued growth of representatives as the business grows. Also, we will need to incorporate an in-house technical staff to run the website.

The Three Minor Elements:
My service's most important resource will be the social capital that I have to start the venture. This includes industry knowledge and business professionals that have a good understanding of what the service stands for. Having a strong social capital will help to foster the type of organizational culture that is required for long term success. The next step for this business will be to possibly franchise the service. If I can create a service that can be duplicated and copyright it, I will be able to charge others to run their own businesses. This will help to provide the end goal of lowering these rates for the customer across the board. This venture will help me to achieve my goal of being financially independent, and it will also help me to work towards creating other sustainable businesses in the future.

Assignment 23A - Your Venture's Unfair Advantage -Darren Liebegott

Assignment 23A - Your Venture's Unfair Advantage - Darren Liebegott

List of Resources:

1) Industry Knowledge:

Valuable: This resource is quite valuable to being successful at my business. It will also require professional guidance to attain.

Rare: It is not rare, but that does not take away from the importance of industry knowledge.

Inimitable: This resource is non-imitable, because you either have it or you do not.

Non-substitutable: You cannot substitute industry knowledge, because it has to be experienced to be attained.

2) Experience:

Valuable: The experiences that I have had when dealing with services providers have created value for the ideas that I have developed to create this service.

Rare: This resource is not rare, as many others have had similar experiences.

Inimitable: You could consider this resource as imitable, however, it depends on who is considering it as a resource.

Non-substitutable: You cannot necessarily substitute for experience, although many people can relate to these experiences.

3) Social Capital: 

Valuable: The social capital that I will be able to leverage for this business will be extremely valuable to all aspects of the business.

Rare: My social capital is rare in that it is unique to myself and my experiences.

Inimitable: This resource is inimitable, because no two people are the same, and you cannot recreate relationships.

Non-substitutable: You cannot substitute another resource for social capital. You either have this advantage at your disposal, or you do not. You can work towards building social capital.

4) Online Platform: 

Valuable: The online platform that I plan to build for my business will add much value to the company.

Rare: It is not rare, in that there are many other platforms like the one that I will use.

Inimitable: It is not inimitable, because someone could create a direct copy of the website.

Non-substitutable: It is not unsubstitutable, because there are other ways to market and deliver on this service.

5) Human Capital:

Valuable: The people that will make up my future organization will bring much value to the venture.

Rare: This resource is not rare, but extremely important.

Inimitable: This resource is inimitable, because the people who help to create the organizational culture of my business cannot be easily copied.

Non-substitutable: You cannot substitute for valuable human capital.

6) Financial Capital:

Valuable: The financial capital that I will use to fund my venture will be extremely valuable to growing the business.

Rare: Financial capital is not rare, although it can sometimes be challenging to come by.

Inimitable: It is not inimitable, as you can always seek investors and loans.

Non-Substitutable: It is substitutable, because you can seek more at any time.

7) Business Plan:

Valuable: My business plan will be extremely valuable to the implementation of the business.

Rare: It is rare because there is not another one quite like it.

Inimitable: It could be imitated, because ideas are readily copied.

Non-substitutable: It could be substituted for a better plan, if necessary.

8) Know-How:

Valuable: The understanding of how to implement my strategies creates value.

Rare: My unique understanding of the business is rare.

Inimitable: My strategies could be imitated, but that will take time, and I can use this time frame as an unfair advantage.

Non-substitutable: The understanding of how to run and grow this business cannot be substituted for.

9) Motivation:

Valuable: Having the motivation to push the business forward is a valuable trait.

Rare: I would not consider this a rare resource, as there are many motivated entrepreneurs out there.

Inimitable: You cannot imitate motivation, it must be cultivated.

Non-substitutable: You cannot substitute for motivation, as it resides within someone.

10) Dedication:

Valuable: Dedication to a cause brings value to the beholder and all of those affected by them.

Rare: It is not rare, but very important.

Inimitable: You can try to imitate dedication, but time shows who is truly dedicated or not.

Non-substitutable: You cannot substitute dedication, it is an intrinsic value.

Summary:

After conducting my analysis, I have determined that social capital is my top resource. This is because it will take professionals with an understanding of the business to help me stand out from my competitors and create true value for my customers. This exercise helped me to narrow my focus to the most important resource for my business, and it will help me to utilize it more in the future.

Assignment 22A - Elevator Pitch No. 3 - Darren Liebegott

Assignment 22A - Elevator Pitch No. 3 - Darren Liebegott

Reflection:

For this elevator pitch I took some of the advice that I received from the last assignment and implemented it here. First, I tried to get directly to the point of my pitch, this helped me to include some extra content that fell within the 90 seconds. Second, I shortened my pitch quite a bit. This was something that I struggled with in my past two attempts. While it felt somewhat rushed, it did help me to provide a more straight forward pitch. I felt more relaxed on this assignment, as this was our third try. Altogether, I feel confident that I would be able to give this pitch a try in a real business setting.

Assignment 21A - Reading Reflection No. 2 - Darren Liebegott

Assignment 21A - Reading Reflection No. 2 - Darren Liebegott

For this assignment I chose to read and reflect on Thinking, Fast and Slow, by Daniel Kahneman

1) What was the general theme or argument of the book?

The general theme of this book is that there are two systems in our brains, one conscious and one automatic, that work in different ways and somewhat dictate the way that we make decisions. This book suggests that the more we understand these systems, the better we can utilize them to make the decisions that we need to grow personally and professionally.

2) How did this book, in your opinion, connect with and enhance what you are learning in ENT3003?

This book connected with and enhanced what I am learning in this course by illustrating the way that our minds work when faced with important decisions. The way that we handle these decisions tend to shape and form our interactions with others, and they can lead to successes and failures depending on the circumstances. What Kahneman talks about in this book is critical to what entrepreneurs are faced with regularly while trying to create successful businesses.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

An interesting idea for an exercise that could be implemented for this class based on the content of this book would be to have students make business decisions based on certain circumstances to see what the consequences may be. By doing this in practice, it could help to foster a more responsible decision making process when faced with these decisions in real life.

4) What was your biggest surprise or 'aha'' moment when reading the book? In other words, what did you learn that differed most from your expectations?

The biggest surprise in this book for me was in learning that the human mind is actually quite lazy compared to its own capabilities. Many times we make the types of decisions that are easiest for us, rather than utilizing our mental strengths to optimize our decision making process. This allows us to focus on more things at once, while not fully accomplishing what we are capable of on one specific task. Learning to concentrate harder on one thing at a time actually leads to accomplishing more, and with greater quality.

Assignment 20A - Growing Your Social Capital - Darren Liebegott

Assignment 20A - Growing Your Social Capital - Darren Liebegott

For this assignment I have contacted three people that are related to the idea that I have for my business. One is a domain expert, one is a market expert, and the other is a supplier. Here is the information that I gathered from this social capital experiment.

Domain Expert: For this category, I reached out to an old colleague of mine via Facebook Messenger to discuss his opinions on the market today. He has been working on the technical side of the cellular and internet provider industry for quite some time now. He spoke with me briefly and I was enlightened to hear from someone in the industry that my service is something that has been missing in the industry for quite some time. He mentioned that the company that he has been working for sets strict guidelines on the prices they can offer customers, and that a mediation effort could work to provide more reasonable rates. Including him in my social capital network gives me valuable inside information that I may not be able to attain on my own.

Market Expert: The second person that I spoke with was a social services employee who works firsthand with struggling families to help them to be financially independent. First, I emailed a friend who had some connections into this field, and this led me to a phone interview with the social services employee. She told me that one of the most frustrating parts of her job was allocating the correct budget for these families. She said that finding housing, employment, and medical services took some time and energy, but that finding the right prices for all of their services was extremely frustrating. She mentioned that she had pleaded with some of these services providers on the behalf of these families to lower their prices to no avail. I found it quite interesting to hear the argument from someone that was already mediating but needed a service with industry experience to help her. Having this contact will be rewarding because I know there is a lot that my service can do to help these families and social service employees.

Supplier: I reached out via email to a manager of one of the larger service providers that offers a wide range of services. He told me that not only was my service unnecessary, but that I was liable to get myself in trouble by trying to implement it. I told him that I knew that not everyone would be a fan of the service, but that would not stop me from planning the business. He was impressed with my resolve and ensured me that if I had any questions in the future he would not mind giving me advice moving forward. Even though this contact didn't seem to be valuable at first, I was surprised at how someone who opposed my idea was still willing to help me when he realized that I had drive and motivation. I think this connection will be valuable in the future when I need an industry expert to test ideas on.

Reflection: This assignment was interesting in that I needed to target experts in the field that I am considering moving into. This was challenging, but the end result was that I have a better understanding of what I am up against with this business concept. Also, getting crucial feedback about my business idea from people who are in the industry made this concept feel much more real. It seemed as if I was really onto something, and I was surprised at how interested and engaged these professionals seemed to be regarding my idea. This assignment was challenging, yet also rewarding.

Assignment 19A - Idea Napkin No. 2 - Darren Liebegott

Assignment 19A - Idea Napkin No. 2 - Darren Liebegott

1) You. Using the feedback that I have received from the last assignment I have gathered that I am hard-working, determined, motivated, and focused. I have experience working a full-time job while going to school. This has taught me that perseverance is extremely important for reaching your goals. Regarding my business concept, I feel that this business could have a tremendously positive effect on my life if I were to implement it. This is because I would be working as an entrepreneur while helping to solve a common problem that many people have.

2) What are you offering to customers? I am offering customers a service that will help them to save on their internet, cable, and cellular services while receiving the quality of services that they need. This is made possible by mediating between customer and service provider to connect the right customer with the right service provider at a price point that is reasonable for both parties.

3) Who are you offering it to? I am offering this service to customers that have busy home lives and are on a budget from month to month. This service is tailored towards families that need reliable services while being price sensitive. In the long run, I see this service being beneficial to all demographics as we move towards a more fair way to price these services.

4) Why do they care? Most people struggle with accepting how much they pay for their internet, cable, and cellular services. This is not to say that they all cannot afford them, but if they could save money on these services they could use the savings towards more important issues.

5) What are your core competencies? My core competencies are a passion towards solving this problem for everyone that needs reasonable rates, strong determination when setting out to achieve a goal, and the strength and perseverance to work hard even when things look bleak.

Summary: With all five of these points being made, I feel that I have the motivation and drive to work towards creating this service. The challenges that I will face will be gaining the right expertise and resources to scale this business at a rate that will provide a return worth continuing with the service.

Feedback Memo: The feedback that I received on my last assignment helped me to narrow my focus on this assignment. The two qualities that I incorporated from the last assignment were 'motivated' and 'focused'. These are important when trying to build a business.

Assignment 18A - Create a Customer Avatar - Darren Liebegott

Assignment 18A - Create a Customer Avatar

What kind of hobbies does your customer have? What kind of car do they tend to drive? (What color is it?) What TV shows do they watch? Do they have children? Are any of them adopted? What are their favorite books, and who are their favorite politicians? How old are they? How old do they feel?

The customer segment that I chose as my Avatar was young to middle-aged families that rely heavily on their cable, internet, and cellular services in their daily lives. The kind of hobbies that this customer segment has range from watching live sporting events to online gaming. They tend to drive SUV's and full-size sedans. The TV shows that they watch range from the Disney channel to live up-to-date news coverage. These families tend to have between one to five children. Many of the books that appeal to this customer segment are academic, but also fictional novels. The political views of this segment are divided. Some tend to be quite conservative while others believe in a more progressive approach. The adults in this customer segment tend to be between late 20's to early 50's. Some may feel older than their age suggests due to the rigors of their daily lives.

 What do you have in common with the customer avatar? If you have anything in common with the avatar, do you think that is a coincidence? Why?

I have many things in common with this customer avatar. I think we can all relate with the challenges placed on families today with prices constantly rising, and trying to find the correct services for our needs. In thinking about the customer segment that I chose to start with, it reiterated to me the importance of my service. 

Assignment 17A - Elevator Pitch No.2 - Darren Liebegott

Assignment 17A - Elevator Pitch No. 2

Reflection of feedback from the previous pitch: 
The feedback that I received from the previous pitch helped me to approach this one more proactively. Rather than starting with an introduction, I began this pitch with a hook to help the customer realize the importance of the service. I am still working on shortening this pitch.

What did you change based on this feedback?
Based on the feedback that I received from the previous pitch, I was able to begin more constructively while not including a formal introduction. This helped me to initiate the conversation about the service more smoothly.

Assignment 16A - What's Your Secret Sauce? - Darren Liebegott

Assignment 16A - What's Your Secret Sauce?

Five Ways That I Have Human Capital:

1. I have an ability to see things from multiple perspectives. It is important when making business decisions to evaluate what is best for yourself, the business, and the customer.
2. I have perseverance to get me through the tough times. It is important to understand the end goal when you need that extra push to keep going. 
3. I have motivation to reach the goals that I set out to achieve. This helps me to stay positive when things aren't going as planned.
4. I have discipline that helps me to provide quality service, even when the payoff isn't quite what I would like. Staying disciplined creates continuity, which is a major quality of a successful business.
5. I am dependable. This is extremely important in creating customer loyalty.

Interviews:

1. In my first interview, I was told that I had a great deal of passion. This was expressed due to the amount of effort that I put into my construction projects in the past.
2. My second interview revealed that I had a willingness to help people develop professionally. This is something that I feel strongly about and I think is missing in many organizations.
3. My third interview showed that I value working relationships, and show respect to those around me. This is an important characteristic to keep in mind when fostering positive morale in the workplace.
4. The fourth interview that I conducted revealed that I have an inner-optimism that helps me to stay positive. I think this is very important for any entrepreneur, because there will always be naysayers and doubters.
5. My final interview showed me that I actually have a way of actively trying to find common ground with people I work with. It is easy to get caught up in your personal tasks each day, but being able to understand others and work towards commonalities creates a dynamic working environment.

In declaring for this assignment, I must include that I have had complications with the recordings of my interviews. While I had them recorded, I was unable to save them correctly and that hindered me from being able to upload them for this assignment.

Reflection:

What I found to be most interesting about this assignment was the way that I interpreted my human capital, and the feedback that I received. It seems that I see certain qualities in myself that are somewhat basic in comparison to the feedback that I received. While I see myself as dependable, reliable, and motivated, my interviewees saw deeper into these qualities and helped me to realize how I actually use them on a daily basis. This exercise has helped me to be more aware of the way that I am utilizing my strengths in the business environment.

Assignment 15A- Figuring Out Buyer Behavior No. 2 - Darren Liebegott

Assignment 15A - Figuring Out Buyer Behavior No. 2

For this exercise, I have interviewed three people that fit my segment category and evaluated the reasoning behind their purchases, and their post-purchase behaviors.

Interview #1: My first interview was with a gentleman that was recently using two different providers for his internet, cable, and cellular services. He explained that he was tired of having to keep up with two different bills and wanted to bundle all of his services, but had much trouble finding a provider in his price range. He searched the internet to find the provider of his choosing, and finally came to a compromise on price just to bundle. He paid online via credit card and was dissatisfied with the price, but ultimately felt relieved with having one bill instead of two.

Interview #2: My second interview was done over the phone with a gentleman that I once worked with in construction who reflected on his decision to try a new provider that offered him a price that could not be matched by the existing carriers. He mentioned that while he was at a store looking for a new work phone, he was approached by a sales rep for a new low cost provider that claimed they could save him 50% on his cellular services. He bought his phone up front and allowed the sales rep to transfer his services. He was happy to be saving so much money up front and liked the new phone that he chose. After a few weeks went by he claimed that the cellular service that he was receiving diminished, and he was having trouble contacting anyone from the company. He ended up cancelling his service and going with a major service provider that cost him about as much as it did previously. In retrospect, he admitted that going with the newer service was an error in judgment, and that he should have just gone with a proven provider.

Interview #3: My third interview was done with a lady that works as an executive administrator for a local company. She tried using the same provider as the one that her firm uses on their business account, but claimed that they were not very responsive to individuals needs as their target market was more business to business. She decided to call three different companies to get price quotes before making a decision, and decided that she wanted to bundle as many services as possible. After deciding on the provider of her choice, she was happy with her decision to price shop as this proved to save her money.

Analysis: Based off of these interviews it is clear that people have different ways of approaching purchases. Some feel comfortable talking face-to-face with a company before they purchase, and others are more comfortable doing research online or calling multiple companies. Most often pre-purchase expectations do not match up with post-purchase evaluations. This is typically because the customer is taking someone at their word and things to not work out the way they expected them to. The best course of action seems to be doing as much research as possible before making a purchase, via internet and by conversing with multiple providers. Most customers do not have the patience for this type of due diligence, and this is where my service will provide value for the customer up front and through savings over the life of the purchase.

Assignment 14A - Halfway Reflection - Darren Liebegott

Assignment 14A - Halfway Reflection - Darren Liebegott

1) Tenaciousness is a competency. What are the behaviors you have used (or developed) to keep up with the requirements of this course?

     Some of the behaviors that I have used to keep up with the requirements of this course include determination and vision. Being determined to keep up with all of the assignments without lagging behind has helped to keep me up to speed with what is going on in the class and how to be successful on the assignments. Keeping a vision of what I would like to get out of the course has helped when I have felt pressed for time. Knowing that the course work is helping to shape how we think of entrepreneurship helps me to push through while on tight deadlines.

2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you have developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

     There have been a couple times during this semester that I have felt like dropping a course may not be such a bad idea. There have been some family gatherings that I was unable to attend due to studying for exams for my other class and finishing up assignments. I pulled through by reminding myself why I am doing this and reassuring myself that I could handle the coursework. Pushing through to meet deadlines rather than allowing myself to fall short of them has definitely helped me to develop a more tenacious attitude in completing these classes.

3) Three Tips. Three tips that I would offer a student coming into this course to develop a "tenacity mindset" are: 1) Always focus on the end goal. This eliminates doubt and worry about the present and shifts your mindset to completion activities. 2) Don't get discouraged about making mistakes. Many people let their own mistakes derail them from completing important tasks. Mistakes are learning experiences. Fix them, laugh about it (if possible), learn from them and move on. 3) Remember what you are gaining from the experience. When feeling overwhelmed, it is easy to start asking yourself why you are putting yourself through stress and anxiety. The answer is that this is how we learn and grow. Always remember that the challenging times are what make us stronger.

Assignment 13A - Reading Reflection No. 1 - Darren Liebegott

Assignment 13A - Reading Reflection - Darren Liebegott

I read Andrew Carnegie by David Nasaw, here is my assessment:

1) You read about an entrepreneur:

• What surprised you the most? What I found to be the most surprising aspect of this biography was the large sums of money that Andrew Carnegie gave away in philanthropic efforts to make a difference in the world. You would think that someone coming from his very financially limited background would try to guard his wealth for his own future generations, but Carnegie was motivated to make a difference for all.
• What about the entrepreneur did you most admire? The most admirable trait that I found in reading about Andrew Carnegie was his persistence to a cause. If Carnegie decided that something was to be done, he would not rest until he saw it through to completion. This may be the single most important trait for a successful entrepreneur.
• What about the entrepreneur did you least admire? Throughout the book there were instances that suggested that Carnegie would make decisions based upon financial growth that would sometimes cause others misfortunes or setbacks. If I had to choose a trait that I least admired it would be his self-righteous view of his own businesses, however, this is what enabled him to amass such large fortunes to share with the world. So, his business decisions early on made him less likable to some, but his philanthropy in later years made him loved by most.
• Did the entrepreneur encounter adversity and failure? If so, what did they do about it? Not all of Carnegie's business decisions turned out exactly how he wanted them to. When things didn't go the way he planned, Carnegie had an ability to move on with his idea and make a better arrangement when things weren't working the way he liked. There is much mention in the book of Carnegie being in the right place at the right time, which was true to an extent. However, there were many people living at the same time that lacked the type of vision that Carnegie had. That vision is what enabled him to overcome adversities in a truly remarkable fashion.

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

     Andrew Carnegie exhibited many traits that helped him to become one of the richest men of all time. It is mentioned that he showed a deep interest in many things, and that he was always willing to have engaging conversations with anyone who would listen. This enabled him to learn much about human nature, and the feelings of those around him. With a keen sense of what was needed and the problems of his time, Carnegie was able to find solutions to a great deal of them. He also did not hesitate when undertaking a new opportunity. This helped him to capitalize on opportunities at a fast rate and move on to newer, more exciting ventures.

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

     There were times throughout the book when Carnegie would leave and go on elaborate trips. He claimed that he needed these experiences to fulfill his life. When going on these trips he would request extended leaves from prominent positions. This did not seem as confusing to me as it did seem to be quite unlikely to occur in today's business environment. He was fortunate enough  to have the funds to cover all of his expenses, but the companies that he supported were forced to get along without him on these extended leaves. I see this more as a challenge for those who relied on Carnegie, rather than a misunderstanding of Carnegie's reasoning for these trips.

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

     First, I would ask Mr. Carnegie what his secret was in winning people over. He had an innate ability to connect with people in powerful positions. This is how he got his start in business, and it is ultimately what enabled him to rise at such a fast pace. Secondly, I would ask Mr. Carnegie what his true motivation was behind his vast philanthropic efforts. I would like to gain some wisdom in learning what he felt he was gaining from such massive donations.

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

     Andrew Carnegie came from a long line of hard working people. This gave him the ability in the start to do what was necessary to put him in the position to prosper. As Carnegie started to amass his fortune, he no longer believed in hard work. He believed in a concerted effort to build wealth through dedicated decision making. I agree with Carnegie's understanding of the usefulness of hard work, but that it should only be used as a tool to get you to a position of greater wealth and understanding.

     

Assignment 12A - Figuring Out Buyer Behavior No. 1 - Darren Liebegott

Assignment 12A - Figuring Out Buyer Behavior No. 1

Choosing a segment:

For this project I have chosen working middle-class families for my segment. The interviews that I have conducted for this assignment were directed towards husbands and wives in middle class families that are concerned with saving for retirement and family vacations.

Interview Information:

The first interview that I conducted was with a gentleman that owned his own landscaping business and supported a family of five while his wife was working towards her nursing degree. I asked him what his major concern was with regards to his cellular, internet, and cable services. He said that he feels that his cable bill has been steadily increasing over the past five years, and that since it was part of a bundle package he would spend even more money trying to pay for cable and internet separately. He said that he was happy with his cellular service at the moment, but that he had to change carriers recently to get a better monthly payment. In review of this interview, this customer is mostly concerned with the price of his services when considering which carrier to use.

The second interview was conducted on a middle-aged women who was finishing up her MBA degree online while working full-time and helping to care for her three children, her husband, and her elderly mother. I asked her if she was happy with the services that she currently had, and she responded by saying that there were critical times during her studies that she would lose services when she only had enough time to finish her assignments at that time. While reviewing this interview it was clear to me that this customer was a professional in the workplace who was limited on time after work and needed to maximize productivity on her study time. This customer's buyer behavior would fall under efficiency of services. If I could find the right provider for her location, that would provide superior service at a significantly lower price it would help her situation immensely.

The third interview that I conducted was with a soon-to-be retired gentleman who was working for a manufacturing company that he had been with for the past twenty-one years. This gentleman was working to support his three children, two of which were in college, and he also had two grand-children in the home. Due to his declining health, he was recently moved to part-time and needed to pay close attention to his budget before retirement. He claimed that his internet and cable bills were far too high for his budget, but that he needed both daily to manage his personal accounts and provide learning resources for his children and grand-children. In review of this interview, this customer represented what I believe shows the importance of a service like the one that I am proposing. The need for reliable services at affordable prices.

In Conclusion:

What I found glaringly obvious from the segment that I chose for this assignment was that many people do not feel they are getting their fair share of quality services for the prices that they pay for them. In most cases, there is a thin line between quality and price, but in the end price seems to be the major concern. The service that I am proposing could be used to lower prices for customers while finding them the services that they need. This market segment will represent a majority share of the customer base for my proposed service.

Assignment 11A - Idea Napkin No. 1 - Darren Liebegott

Assignment 11A - Idea Napkin No. 1

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

My name is Darren Liebegott, and I am a student at the University of Florida. My major is General Business, and I am working towards a career in operations management and finance. I have worked in construction management and also operations management and I feel that this has given me good insight into the way businesses operate from the ground up. The business concept that I have developed is to create a service that will intermediate between customer and cellular, cable, and internet provider to find the best price and types of services for the customer. I see this business concept as a way that I can help others while also creating a viable business plan that can help to create increased financial security in the years to come.

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

The service that I am offering to customers will provide them with savings on their cellular, internet, and/or cable bills while giving them the peace of mind to not have to go through the negotiation process with these large service providers. My service will essentially handle everything between the customer and service provider while finding the absolute best service and price for the customer's unique situation. The truth is, there are many different ways to optimize your services to get the best quality at the best value price. These service providers would rather tier customers into only a few packages that end up costing the customer much more, or forcing them to sacrifice much needed services. This service will bridge the gap between customer and provider, fostering stronger business relationships and helping to more efficiently distribute services.

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

This service will be specifically marketed to those individuals that have specific needs from their services, but for whatever reason feel they are paying too much for their services. Many middle-class families and small-businesses fit the demographic market that I intend to advertise this service to. With the cost of daily living steadily increasing, it is important to save where possible and truly get the most out of the services that you pay for. This service will help to increase discretionary income for families, and improve the revenue of small businesses. Once the true effect of the service kicks in, there should also be an improvement to the local economies that employ this service.

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

I have conversed with many individuals that are simply unhappy with their service providers. I have also personally had experiences that have left me less than satisfied with the service that I was receiving versus the cost for the particular services. One of the major issues that I plan to handle via this service is the issue of existing customers having their service costs regularly raised, and being forced to switch providers as a "new customer" to get a decent rate. This is an issue that needs to be addressed, and one that I am adamant about finding a solution to.

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

Some of the core competencies that I have are that I have a good attention to detail when taking on these types of business issues. Many providers will give a blanket response to customers to deter them from asking the "right" questions. When speaking on a customer's behalf, I will give a relentless effort to find the correct compromise between the customer and provider. I also have a strong belief in the need for this service, and the work ethic that I believe will be necessary to make it successful. 

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

In regards to the five elements previously discussed, I feel that the service that I am offering to customers fits well with the types of reviews that I have heard from interviewing potential customers. What I am offering seems to be a service that can potentially help the lives of people who struggle to afford the types of services that they need to be successful, or who are simply trying to budget their expenses more efficiently. Of the five elements, the one that is most disjointed would be my experience to date. There will be a learning curve in the beginning with respect to website creation and advertising, and these are skills that I must improve upon to realize the greatest return on the business. Otherwise, I see a cause that I can stand behind and feel that I have the work ethic and drive to make this business model successful.

Assignment 10A - Elevator Pitch No. 1 - Darren Liebegott

Assignment 10A - Elevator Pitch No.1

Assignment 9A - Testing the Hypothesis, Part 2

Assignment 9A - Testing the Hypothesis, Part 2

Introduction:

For this assignment, I have targeted certain interviewees that have different lifestyles and habits than the individuals from Part 1. In doing so, I am hoping to further narrow the scope of the customer base that is most suited for my business idea. As previously noted, the business idea that I have come up with is for an intermediate rate shopping service that helps customers to customize the services they need while saving money on their mobile phone, internet, and cable services. This business will help to foster customer relationships with existing providers and help to limit the predatory pricing tactics of some of the larger providers.

Analysis of Interviews:

The first interview that was conducted was on a gentleman that has a successful self-contracting business that he uses to provide needed services for medical offices. After pitching my business idea, and explaining to him the importance and relevance that I feel that it holds in today's competitive services industry, I asked for his truthful opinion. He offered some encouragement on the business idea, but also a negative review. He said that he commended me on my effort to create a business model to help others, but that he saw this business idea as a gimmick to receive earnings from money already being paid out by customers. I explained that while it was necessary to earn a profit in order to carry out this plan, the underlying idea is to create a level playing field between customer and provider while generating income. In review of this interview I determined that the service was not as appealing to this interviewee based upon his higher than average income, and that it just wasn't seen as necessary to him as some of the previous interviews that I conducted.

The second interview was given to an elderly couple who claimed to have had much frustration with their mobile services for many years. I explained that the service that I was planning to develop would help not only with lowering their bills, but also with finding the best and most reliable services for their unique situation. After briefly explaining to them my ideas, the gentleman told me that he has always handled these issues on his own and did not need any further assistance with his service problems. This interview showed me that some customers refuse to be targeted in response to new services.

My third interview was given to a younger construction worker that was not that interested in maximizing his service capabilities. He explained that he got his mobile service through his parent's provider and he payed very little per month for the service. He claimed that all he used his phone for was to talk and text, and that most of his internet usage was done at home where he also used his parents wireless internet. This interview showed me that many younger customers are sharing services, or using their parent's services and this is not quite the market that this service would be suited for.

The fourth interview was given to a middle-aged man that was currently running his own pest control company. He has services provided for him and his employees that need to be reliable for the livelihood of his business. He explained to me that he was currently unhappy with the cost of providing cellular and wireless internet for all of his employees, but that he was content with the reliability of the service. He said that while he thought it was a great business idea he would not switch services, or pay another service to save money while his services were sufficient to running his business successfully.

My last interview was given to a neighbor who happens to write code for a local company. He really liked the idea, and said that it was something that would be needed soon. He also said that he thought it was too early to come to market and that it would be better to hold off and wait for even more instability in the services industry. I humbly disagreed but thanked him for his time and candor. In review of this interview, it seems apparent to me that some customers that are closely related to the issue at hand may see too much of both sides to choose one.

Inside the Boundary:                                                            Outside the Boundary:

Who:                                                                                        Who is Not:

Working middle-class                                                             Tech-professionals
Small business owners                                                            Older and set in their way types
Younger married couples                                                        Above average income earners
Head of household of families                                                Younger that share services

What the Need Is:                                                                    What the Need is Not:

To save for retirement                                                             To join the fight against Oligopolies
To cut small-business costs                                                     To have someone advocate for them
To save for vacations                                                               To give money to a new cause
To limit household expenses                                                    No need for service, expenses low

Why the Need Exists:                                                              Alternative Explanations:

To help people save money                                                     Not all will see the need for the service
To help people receive adequate service                                 Not all will agree with its importance
To limit predatory pricing by large service                              Some are content with paying more
providers.                                                                                 Some pay more for exceptional service.
To help set industry benchmarks                                             

Assignment 8A - Solving the Problem - Darren Liebegott

Assignment 8A - Solving the Problem

Selected Opportunity:
A rate shopping service to achieve the ideal price and level of service for customers in regards to their mobile phone, internet, and cable services.

The Problem:
Funding for this type of a business is uncertain, so outside investors may be needed to get this service off the ground. Fee structure and customer associated costs are also a concern when starting a service based business.

The Solution:
A viable option for this type of startup business would be to use a crowdfunding platform initially, and to pay investors back as quickly as the funds are available. The estimation is that there will be a 90-day startup period where very little income will be made. Following that time frame, business relationships should be achieved and stable, sustainable income should follow. The crowdfunding site would be a solution to the problem that is the need for startup capital. In order to create a fee structure for the business that keeps it financially sustainable, and keeps costs low for the customer, we may need to hire in an accounting firm to help crunch the numbers so we can achieve our required return in the beginning stages. This upfront cost will be necessary to the longevity of the business, and will serve as an insurance policy against errant figures that could sabotage the business right away. If the cost to hire the accounting firm is figured into that of the startup fees, this should be an attainable goal through the crowdfunding venture.

With the attainable startup capital needed for the business, and the expertise of the accounting firm that will be retained to help with the initial figures, this looks to be a viable solution to the problem of limited startup capital and the creation of a fee structure that will sustain the business and extend a fair market rate price to our customers.

Assignment 7A - Testing the Hypothesis, Part 1 - Darren Liebegott

Assignment 7A - Testing the Hypothesis, Part 1

1) Rate shopping intermediary service for customer's mobile phone, internet, and cable services.

2) Many customers of mobile phone, internet, and cable service companies struggle to find the services they need at prices they can afford. This leaves many people with less discretionary income and services that they do not always need. Finding the right balance between price and necessity is a real challenge in today's high tech society. The services that customers are overpaying for are many times their livelihood, so they continue to let these companies dictate the prices that they pay. As the customer/ consumer of these services, they should have an equivalent say in determining what they feel is a "fair" price for these services.

• The Who: Customers of mobile phone, internet, and cable services.
• The What: Prices of mobile phone, internet, and cable services.
• The Why: To create a level playing field between service providers and customers when determining price versus level of service.

Testing the Who: There are many customers that need help with balancing their budgets on a monthly basis, who don't have the time or know-how to negotiate with these service providers. There is a large market for this type of service.

Testing the What: This type of service could do much good for a large number of customers. The challenge with this type of venture is to find the right price point to charge for the savings. Customers who are already paying too much on their monthly bills will be leery to spend more money with hopes of saving some. For this reason startup capital will be necessary. Customers can not be expected to pay for this service until they see their realized savings start to accrue.

Testing the Why: The existence of such a service would help to mitigate some of the unnecessary costs that customers pay to these service providers. The fact that their is a service being created to help customers afford their current services is proof that there is most definitely a need in this area. Many customers will see this service as unnecessary and try to negotiate prices on their own, but this approach does not usually come with the results one would hope to achieve. The intermediary rate shopping service would exist to help service providers retain long standing clientele, while delivering their services at an affordable price to the end user.

Interview 1: I spoke with a gentleman concerned with his cable bill, and particularly with the ever-increasing monthly bill that he was receiving. He claimed that he had been a loyal customer of a particular service provider for many years, and while the company regularly advertises very low rates for new customers, his bill continuously increases. I asked him if he tried to negotiate his price with the company and he said that the only way for them to lower his rate would be for him to cancel the service for a certain amount of time, and to then sign back up as a new user. This would leave him without cable during the interim. I agreed that this was a problem and assured him that I was looking into a solution to this issue. Who: The Gentleman, What: Over-priced cable bill, Why: To create a service that would lower his monthly bill.

Interview 2: For my second interview I spoke with an elderly woman who lives at a local apartment complex. Her dilemma was that she has been having problems with her wireless internet connection and the company that provides her with the service charges her a fee each time someone has to come out and do a maintenance on the equipment. She explained that the service interruptions were not her doing, and she already pays a more than average monthly bill for her services. I explained to her that having an intermediary speak to the service provider on her behalf could help to limit some of the extra fees that she was being charged. Who: The elderly woman, What: Service fees to fix poor internet reception, Why: To lessen the burden of having to pay even more money each month for less than par service.

Interview 3: This interview began as a casual conversation with a friend of my uncle's who was debating switching mobile phone service providers. I asked him why he was considering switching providers and he said that he was experiencing "dead zones" even though the network that he was currently using was supposed to be one of the largest in the country. He claimed that the company told him that his phone was the problem, and that he would need to purchase a new one in order to restore his services back to where they should be. With the price of cellular phones these days he would be better off financially to start over with a new provider. I told him that I was working on a service that would help to find better solutions to these types of problems between provider and customer. Who: My uncle's friend, What: Poor mobile phone service, Why: To find a better solution to the problem of poor reception without a valued customer needing to purchase an entirely new device.

Interview 4: I spoke with one of my co-workers about his choice of cable provider. He said that cable rates were so high that he cancelled his service and now uses streaming apps instead. He claimed that he would rather have cable, because the service was typically better with less interruptions, but that he simply couldn't afford it. I proceeded to explain to him that it would be beneficial for consumers like him and the cable providers alike if they could find a way to negotiate a "fair" price rather than losing customers altogether. Who: My co-worker, What: High price of cable services, Why: To find a way to provide more customers cable at prices that were sustainable for all parties.

Interview 5: For my final interview, I spoke with a man that owned a small distribution company that needed a service provider to bundle all of the services he needed for his business at a price that would fit within his monthly budget. He claimed that he had spoken with many different companies that considered his account to be commercial and thus wanted to charge him much more that the standard price for the service. He argued that his shop was small and comparable to a home office, and that if he ran his business out of his home the service would cost him much less. I agreed that it was ridiculous to pay two or three times as much for the same level of service because they claim it is in a "commercialized zone." This is yet again proof that this business model could be successful. Who: Shop owner, What: High price of bundled commercial services, Why: To find a fair way to price services that are comparable based on level of service, rather than purpose of service.

Summary:
In reflection on the interviews that I had, and with the ideas that I previously had for the rate shopping intermediary service for mobile phone, internet, and cable services, I was encouraged to hear that all of my interviewees were having issues that were curable through this service. People need someone in their corner when it comes to these large companies that have an oligarchy over the industry. It is almost like a dark cloud looming over our heads that gives them the say in dictating what prices should and shouldn't be based upon what they deem the bonuses at the end of the year should be for their executive branches. These interviews gave me insight into some of the real issues to focus on in the beginning. The main challenge with this type of service will be to figure out the fee structure to make sure the business is scalable and stable, while offering fair prices to our customers just as we will work with these other services to achieve. I am confident that there is a business here, and the need for this service is evident based on these interview.

Assignment 6A - Identifying Opportunities in Economic & Regulatory Trends - Darren Liebegott

Assignment 6A - Identifying Opportunities in Economic & Regulatory Trends

1) Economic Trend: U.S. Economic Outlook for 2020 and Beyond
     https://www.thebalance.com/us-economic-outlook-3305669

• This article suggests that economic growth in the U.S. is slowing, while unemployment rates remain low. An opportunity exists here to work in existing markets to capitalize on the consistency of the economy. This means joining markets that are strong and strengthening one's financial position while the market allows.
• The ideal customer in this situation is the consumer or small business owner that needs products on a regular basis. These customers need products and accessories on a daily basis to fuel their businesses. This creates many opportunities for startup businesses.
• This situation can be a challenge to exploit based on the existing markets. It will take some vision by business leaders to accumulate resources and grow their market space. However, this is an opportunity to solidify companies for many years to come.
• I saw this as an opportunity mainly because I have been in the supply chain industry for years and recognize the need that small businesses have for reliable supply of products. When economic growth slows, business to business opportunities exist for consumers and entrepreneurs alike.

2) Economic Trend: China Cuts Tariffs on $75 Billion in U.S. Goods. That Was The Easy Part
     https://www.nytimes.com/2020/02/06/business/china-trade-tariffs-coronavirus.html

• China has cut tariffs on U.S. imports to help sustain its population while dealing with the Corona virus epidemic. This creates immediate opportunities for American exporters to gain valuable revenue while this opportunity exists. 
• Customers for this opportunity are represented by the Chinese population that needs goods to help them sustain while trying to save their business and personal interests during this difficult time. 
• This opportunity is relatively easy to exploit due to the obvious needs that China has at this time. Taking advantage of such an opportunity is not only wise, but can also be looked at as philanthropic and lead to business relationships in the future. 
• I saw this as an opportunity before the news broke that China would be temporarily cutting tariffs on U.S. goods. This type of situation always creates business opportunities for other regions across the world.

3) Regulatory Trend: 6 States That Could Legalize Marijuana Sales in 2020
     https://www.usnews.com/news/politics/articles/2019-12-31/6-states-that-could-legalize-           marijuana-sales-in-2020

• The legalization of marijuana is a highly debated issue, but the evidence suggests that is creates many opportunities for U.S. businesses and the government alike. Small business and government income can thrive under the deregulation of cannabis.
• This opportunity exists because many products are interrelated to marijuana use. Also, deregulating marijuana strengthens the economy by not incarcerating people that are arrested for petty charges. This puts more able bodies at work and more tax dollars in the hands of the government.
• The major customers for this regulatory opportunity are tourists, travelers, and many Americans that have been waiting for this opportunity to occur. 
• This opportunity will be easily exploited once the government fully deregulates marijuana sales as a business. However, this could take many years due to the government's unwillingness to forfeit its own income from the situation.
• I saw this as an opportunity because I have heard many conversations from hard working people that see the benefits of marijuana legalization. They are willing to contribute to help make this market a success.

4) Regulatory Trend: 2020 Regulatory Outlooks
     https://www2.deloitte.com/us/en/pages/regulatory/articles/center-for-regulatory-strategy-outlooks.html

• An opportunity exists in the financial sector backed by some key deregulation in financing. Banks have been given more freedom in the past few quarters to issue loan products that were not previously available. 
• The customers for this opportunity are startup ventures and individuals that are hoping to create a sustainable business for the future. Also, people are working towards renovating their homes rather than taking on new loans, which relate to this opportunity.
• This type of opportunity can be challenging to exploit, but the payoffs can be immense if efforts are put in the right direction. Banks and finance professionals thrive on having the ability to work autonomously without too much regulation.
• I saw this as an opportunity because I know many people who have struggled in recent years to gain funding for their businesses and homes. These individuals will be given the opportunity to grow their businesses and improve their living conditions.

Assignment 5A - Identifying Local Opportunities - Darren Liebegott

Assignment 5 A - Identifying Local Opportunities

1) "Florida Restaurant Owner Raising Funds to Help Homeless Nave Vet" - Ocala Star Banner
https://www.ocala.com/news/20200127/florida-restaurant-owner-raising-funds-to-help-homeless-navy-vet

Description: This story focuses on a Navy Veteran that has fallen on hard times due to some medical issues that left her unable to keep up with her day-to-day financial obligations. The owner of a local restaurant decided to raise funds to help to get her back on her feet and back to living a normal life. The Navy vet has been living in her car while trying to improve her quality of life.

The Problem: Many veterans have issues assimilating back into society with underlying health problems. As Americans we should strive to give them better opportunities and care after serving this great nation.

Who has the problem: In this situation the Navy vet who was sleeping in her car has the problem, and the restaurant owner represents the source of a possible solution.

2) "Outbreak Casts Pall Over China New Year as Deaths Surpass 40" - Ocala Star Banner
https://www.ocala.com/news/20200124/outbreak-casts-pall-over-china-new-year-as-deaths-surpass-40

Description: This story covers the a devastating new virus that is sweeping across China during their new year festivities. Health officials in the region are urging people not to use public transportation unless absolutely necessary as they continue to investigate the virus and how it is spreading.

The Problem: A new unknown virus outbreak is spreading through China and death tolls are rising. Health officials are trying to find the cause and origin of the virus.

Who has the problem: The Chinese population at large is in danger of this becoming an epidemic. It is unclear if this can be contained hygienically, or if it is being spread mainly by animals.

3) "Two Men Arrested for allegedly stealing mowers, trailer from Rural King" - Ocala Star Banner
https://www.ocala.com/news/20200126/2-men-arrested-for-allegedly-stealing-mowers-trailer-from-rural-king

Description: At a Rural King store in Ocala, FL, two men were arrested in connection to the theft of riding lawn mowers and a trailer. Tools to pull off the heist were found in their possession.

The Problem: Rural King locations are susceptible to this type of crime. Most of their mowers and trailers are left outside, unattended for the most part. More security is most likely needed to contain these types of incidents.

Who has the problem: Rural King stores have the problem of trying to limit thefts from their locations. These stores have a great business model, but freely advertise their goods and are in need of stricter security standards.

4) "West End Fades Away" - Gainesville Sun
https://www.gainesville.com/news/20200125/west-end-fades-away

Description: West End Golf Course in Gainesville has closed after fifty years. The course that many locals have come to know and love was forced to close down. The costs of managing a golf course are extremely high, and this particular course along with many others in recent years was forced to close down.

The Problem: Course managers were faced with the difficult decision to close the course when the funding was no longer available to keep it in playable condition. Golf courses require regular attendance to maintain their stellar play-ability, and West End could not keep up with the course long enough to bring it back to playable shape.

Who has the problem: This is a problem for the owners of West End and the loyal fan base of the course that will now need to find employment elsewhere and travel to different locations to golf.

5) Lucky's Market Among Florida Stores to Close Feb. 12" - Gainesville Sun
https://www.gainesville.com/news/20200121/luckyrsquos-market-among-florida-stores-to-close-feb-12

Description: This article focuses on the closing of a local grocery store that is closing in Feb. due to unsatisfactory sales. Local businesses have the challenge of competing with big chain stores on price and customer base.

The Problem: Lucky's is located in an area where there is much competition in the grocery industry from larger stores. Despite having a loyal customer base, the revenue being generated by these customers was not enough to keep the store afloat.

Who has the problem: This problem exists for the owners/ management and employees of Lucky's, along with the loyal customers that relied on Lucky's for specialty items. Customers will now be forced to order these items online or try and find another store that carries them. The owner's of Lucky's will need to try and find a way to replace the lost revenue that was accrued.