Alex's ENT3003 Blog

Something that I have struggled and failed at this summer is finding things to bond with my little brother over. He is thirteen years old and we used to be very close, but since I left for college, we have stopped spending time together and I am worried that I could lose this bond. I thought that when I moved back home for the summer I would be able to bond more with him, but he has been mostly unresponsive. I have tried to talk to him about his friends or the shows that he is watching, but he seems uninterested in discussing these things with me. I told myself that I would try to learn about the video games that he was playing and maybe play them with me, but have not. I always find something else to do (usually that I consider more important) and I think that is leading to a continued strain on our relationship. I think that this failure has put an emotional strain on me because I desperately want to improve this relationship but I think that if I push too hard, it will just make the...

For this assignment, I read Phil Knight's autobiography Shoe Dog . I picked this book because I have always been an avid Nike fan but did not know anything about the company's history or its founder. I was incredibly interested in Knight's story and was enthralled by his descriptions of his life. I think that what most surprised me while reading this book was the incredible struggle that Nike and Knight faced when they were still Blue Ribbon. I knew that the company came from humble beginnings, but I never would have imagined that the company was in the negative for so long and reliant on Japanese investors. I think that the individual point in the book that surprised me the most was when Nike received the 25 million dollar invoice from US Customs. This was a shock to me because Knight made it seem like the company was reaching its peak and then announced this blow. I was not surprised that it could happen, because I have seen stories like this in the news regarding compani...

I think that my exit strategy from Viva Voce, my grassroots marketing venture to benefit small businesses, is not an exit at all. I think that if I was able to make this business viable, I would stick with it as long as I could. I believe that this plan comes from the way that I was raised, as the child and grandchild of small business owners. I grew up in a retail store and still run into people who remember shopping with my mom when I was a small child. I would go to the store every day after school and have many cherished memories that I have made with my mother, my grandmother, and my siblings. I think that part of what made my mom's business so successful was the family aspect of it. Her first employee was her younger sister and many of their customers have known them personally for years. I think that this touch can be something that makes or breaks a business. People become attached to your business and feel like it is part of their family as well. For my business, I think...

Venture Concept for Viva Voce My Opportunity:  As more local governments are implementing laws to phaseout or ban single-use plastics, businesses are being forced to find alternatives. Some have chosen to begin the shift before they are forced to, but others fear that the increase in cost could drastically affect their margins. This is especially true for small businesses that rely on the low-costs of single-use plastic bags and take-out containers. Many of these business owners are unsure how they will afford to make the shift towards eco-friendly products if their local legislation requires it. Some will be able to share the cost with their customers who will have to pay for the green option, but others will be forced to absorb the cost. The Innovation:  In order to mitigate the cost that small businesses will have to face, I have created a platform that will help decrease the cost of eco-friendly products. Large businesses, politicians, lobbyists, charity groups and a...

1. Experience working in and managing two small business (retail and financial) V - This will allow me to have a better understanding of what decisions are the most important and how I should allocate my resources.  R - Many entrepreneurs have not had first-hand experience running a business I - This is not difficult for others to copy but is time consuming N - Any work experience can be beneficial in understanding how a business runs but having had management and financial insight into the business will help me more than having simply been an employee 2. Access to student loans  V - Student loans have notoriously low interest rates and do not require previous credit history R - Only accessible for current undergraduate or graduate students I - Any student has access to this same resource N - There are lots of other forms of financing available but few with the same benefits 3. Supported by the Environmentalist Movement across the US V - This movemen...

Thinking Fast and Slow by Daniel Kahneman The book Thinking Fast and Slow  follows two 'characters', System 1 and System 2. These characters are designed to represent the part of ourselves that does the impulsive and fast thinking, and the other that is more rational and strategical. As Kahneman introduces and discusses these characters, he analyzes both his own research and research done by other economists, psychologists, philosophers, and scientists. The book is designed to contradict many of our immediate thoughts and beliefs, and back up our true state of being with qualitative and quantitative data. By expressing Systems 1 and 2 as characters rather than just parts of our mind, we are able to better understand the way that our brain works and how theses systems control every instance of our daily lives. This book connects to this course because it analyzes how individuals act in the real world, and how they should act if they were acting completely rationally. Kahnem...

The Pitch: My Reflection: Most of the comments that I received on my 2nd Elevator Pitch complemented me on being more animated and excited during my pitch. This was one of my goals and I think that I accomplished it, but still had room to grow. In my 3rd try, I tried to be even more excited about my product and really try to appeal to the audience. Another comment that I received was that my hook was well executed. I think that this was an important change between my 1st and 2nd elevator pitch, and was something that I maintained and tried to further animate in my 3rd pitch. The biggest change that I made for my 3rd pitch was trying to cut out some unnecessary information. My 2nd pitch was around 90 seconds, but I was able to shorten my 3rd pitch to around 75 seconds by making sure not to repeat information or provide information that was unnecessary for an elevator pitch. I focused more on the key details of my product and my marketing plan in order to make a better appeal to inve...

Growing My Social Capital:  1. Custom Ink is an online retail company that sells custom designed products like t-shirt, hoodies, sunglasses, towels, ornaments and more. Custom Ink would be considered a domain expert in my industry . They are mainly targeting individuals and small groups that want to have custom products created and mailed to them. They have a much wider variety of products than I plan to have which makes their distribution more complex but would allow them to provide me with lots of insight about how they manage their company. I live chatted with a customer representative and then was referred to a page that allowed me to send an email request to another representative for the company. My goal in this interaction was to learn more about their distribution process and how they manage their wide array of products. I think that by establishing a relationship with a leader in Custom Ink, I will have more access to supply chains and will be able to get a better unders...

Idea Napkin:  1. My name is Alex Richardson and I am a second-year Economics major at the University of Florida. I have worked in the finance and accounting industry for over two years and have been able to work with almost 50 different businesses and individuals in this time. My business will allow me to use these knowledge to connect with small business and work to improve their finances and purchase decisions. I love working with individuals, and as the child of a small business owner have learned to recognize the importance of small businesses in our communities. I want to work to make their lives easier so that they can continue to do the amazing work they do in benefiting the people around me. 2. My business is one that will allow large corporations, nonprofits, political groups, and others to invest in advertising with small businesses through the placement of logos or slogans on reusable packaging and bags. Small businesses will then be able to select bags to order based ...

Most of the comments that I received on my first elevator pitch focused on their appreciation of my concern for the environment and small businesses. This encouraged me to shift the focus of my video from only what I was doing to how it would actually help people. I also made sure to address both how it would help the small businesses and the people who are paying to advertise because this is important for the revenue stream. I think that the most important critique that I got on my last video was that I was too stiff and seemed focus on the facts rather than how I could help people. I took this advice to heart and tried to be more animated in this pitch and to seem more excited and hopeful about the product.