Sunday, January 31, 2016

Week 4 Reading Reflection

1. The first thing that really stood out to me in the reading for this week was in the characteristics of a corporation that facilitates entrepreneurship. According to the text, small flat organizations are best suited for facilitating entrepreneurial ideas and growth. The reason this stood out to me is that this is already a characteristic I was seeking out in companies I hope to work for in the future, without even knowing that this layout was fundamental for innovative thinking. Where as this was just more of a personal preference before, it will likely be a requirement for companies I seek out from now on.

2.  I was a little confused over the idea that the global economy is an emerging thing in business. It's repeated several times throughout the text like it is something new. The global economy has been around for awhile now, and this recent increase of respect for the entrepreneurial mindset seems independent of it.

3. Questions I would ask the author:


  • Is the facilitation of entrepreneurship critical to a corporations survival? Is it possible for a company to exist without it?
  •  It seems that most of the characteristics that motivate entrepreneurial thinking within a company involve being more open and non-hierarchical. Is rigid organization inherently bad for innovation?
4. An area in which I disagree with the author is that standardization inhibits creativity and innovation. I believe that creativity is not simply about doing things the way they weren't meant to be done. Creativity can survive and thrive within a regulated atmosphere. It is a practiced skill.

Customer Interviews No. 1

So, for my "potential business opportunity" I figured I would try something like a Pandora, but for books instead of music. I personally love to read on recreationally, but one of the biggest struggles is often just finding that next good book, especially if you churn through them fairly fast like I do. Once friend recommendations run out, you're often at a loss, and that's assuming you're friends who read have the same taste in books. This would be a system that, like Pandora, feeds you a steady stream of books that are random but at the same time tailored to your preferences. You would simply "seed" the suggestions by inputting a few books and author's that you really loved, and then it would create a feed for you. Each time you read a book on the suggestions, you would rate it in order to provide the system feedback to continue customizing the suggestions to you personally. You could even create multiple feeds, so that you could switch genres or whatever. This would meet the need of book-lovers everywhere.

 Questions:
1. Name
2. Year
3. Major
4. How often do you read recreationally?
5. Have you ever felt like you ran out of good books?
6. How do you normally go about finding a new book?

Video:


I apologize for the lack of editing. I'm an entrepreneur not a director.

Reflection:
So, being completely honest, I wasn't really confident in my idea at first, I just needed something to complete the assignment. However, as I progressed through the interviews and realized that my target audience was not only larger than I expected, but could also easily be expanded, I became much more confident that this was at least a feasible start-up idea.

Interviewing was definitely uncomfortable at first, but got easier and more natural as I went along. I will say that enlisting the aid of a peer to help film and work together with took a lot of the pressure away. It would have been noticeably more difficult by myself.



Monday, January 25, 2016

Top 5 World Problems (Number 4 Will Shock You!)

Problems  (from worst to less worse)
1. Global Warming
2. Nuclear Weapons
3. World Hunger
4. Apathy
5. War

Solutions (from most implementable to least)
1. Apathy
2. Global Warming
3. World Hunger
4. Nuclear Weapons
5. War

 I had a difficult time coming up with an order for this list, as I feel all of these are huge problems. In the end, I mainly decided the order through their greatest possible detrimental impact. For example, global warming and nuclear war are both at the top as both are capable of rendering the planet uninhabitable. Global warming is placed above as it is steadily and progressively becoming a bigger issue, whereas we have avoided global annihilation in the form of nuclear holocaust for more than half a century. World Hunger is next due to the sheer number of consistent deaths it is responsible for. In that sense I realize that I should have put disease on this list, but it wasn't in my original list of world problems so, an oversight on my part. Apathy is next just because I believe it is the source of basically all problems. War is the last as, while it is indeed the cause of many deaths and a massive horrible problem, it is essentially inherent to humanity. I do not feel it is an issue so much as a condition.

I put apathy as the easiest to solve because, let's face it, all of them are really hard to solve or they would have been solved already. I feel like the apathy issue could be addressed soley by government programs, unlike the rest of these problems. Global warming, like apathy, can be addressed through government intervention but would require world coordination the likes of which has probably never been seen before. It is feasible, but unlikely. World Hunger is where I feel this list first dips into the unsolvable. I feel like global resource distribution will always be an issue. Likewise, nuclear weapons have been created and will never go away. As I stated above, I feel war is simply part of the human condition. While it truly is a terrible thing, I see it as part of who we are.
A relevant picture. 
(Apathy)


Sunday, January 24, 2016

Week Three Reading Reflection

1. Something that surprised me in this week's reading was the passage on commitment, determination, and perseverance. I realize that commitment is important both personally for the entrepreneur and for potential investors (you don't what to put your money on something that even the creator doesn't believe in), but what I didn't expect is that the text suggested that making personal sacrifice for a venture could actually look good in the eyes of an investor. I have always seen investing as a thing where you want to look as confident and secure as possible; the idea that a potential investor would view mortgaging one's own house to start a venture (and thereby making oneself very vulnerable) as a positive was startling. It makes sense the more I think about it, but it initially took me aback.

2. I was confused that the author included "low need for status and power" in the bullet list of common entrepreneurship traits; I wish that had been expanded upon. Isn't one of the driving factors behind entrepreneurship the want for independence, answering to no one but yourself. An entrepreneur is his/her own boss. The kind of person driven to become an entrepreneur seems the exact kind of person that seeks power and independent recognition.

3. Two Questions I would ask the author concerning this chapter:


  • Could an individual believe or hold to an external locus of control and still be an entrepreneur?

  • It has been stated many times already that failure is a learning opportunity. Is it not also possible to learn from success? 


4. The section about the "dark side of entrepreneurship" was a little silly to me, and a place where I disagree with the author, An entrepreneur accepts the inherent risk of their field. The fact that an individual is willing to accept these risks and move forward, this is not a "dark" or dangerous behavior. The riskier the move, usually the greater the rewarded. If an entrepreneur fails in his venture, it doesn't mean that his decision to go for that particular venture was a negative one.

Identifying Local Opportunities

Chronic relationship posting is exhibitionist

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A8761341815870?p=AWNB

Facebook is a never-ending stream of unwanted information. People use it to keep in touch with old friends, but the amount of irrelevant and unnecessary information about other's lives that you are constantly flooded with is unwanted. It needs a filter.

Who has the problem? Anybody that uses Facebook.

Counseling and Wellness Center leaves much to be desired for students

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A6288B66B6B0B8?p=AWNB

The article summarizes the writer's experiene in trying to get an appointment with a psychiatrist. Apparently, this was a difficult and inefficient multi-step process in which the patient would not receive actual care for weeks, and this was only bypassed b the writer through getting in touch with Dean of Students Office.  

Who has the problem? UF students with mental health needs.

More than 300 march to say: Hands off our parks

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A9388BC0BA7E30?p=AWNB

Residents are opposed to opening up state parks to activities like hunting and ranching in order to make them self-sufficient. More than 300 showed up to protest the proposal. There is still the underlying problem, however. How can we make the State Parks self sustaining?

Who has the problem? Local government/community

Color me happy: the rise of adult coloring books

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A5A876E8449418?p=AWNB

Not so much a problem, but an opportunity. Coloring books for adults are an arising business opportunity, a market that is new and growing.

Reitz to house new startup businesses in Fall

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15A789134B4DFB60?p=AWNB

Not necessarily a problem, but definitely an opportunity. The hatchery is holding a competition for potential student businesses, the winner gets $25,000 in funding to try to make it happen.

Who has the opportunity? Us


Thursday, January 21, 2016

Very Short Interview No.1

Yesterday I interviewed Bill Lennon, owner of Image One and County Business Systems Inc. Lennon has run these businesses as is own for his entire professional career.  As a former intern at Image One, I was curious as to Mr Lennon's outlook on business and the world of entrepreneurship. I asked him the following three questions and recorder his responses:

Q: What, in your own words, is an entrepreneur?

A; I think an entrepreneur is an independently motivated individual willing to take risks. They go out on their own.

Q: What skills do you think an entrepreneurship course should teach?
I actually just read a book on this called The E Myth. There are processes behind all businesses, its important to be trained and aware of these processes before you even consider a venture. Take me for example: I know the technical aspects of my business. I went to school for it. What I wasn't ready for were all the financials, the logistics. I knew my trade, but I had to find people to help me manage the other stuff. Its also important to realize that you'll need help. As much as you think you know, you won't know everything.

Whats the most important trait of an entrepreneur? The ability to take a "no". If you are the kind of person that enjoys doing the same thing every day, its not the route for you. If you like doing something different, being unsure about what's going on tomorrow, you need to have that adaptability too.

I found the final part of the second response to be that which spoke to me the most. Its a commonly repeated piece of wisdom, but to know your own weaknesses and to realize when to accept the help of others is certainly a trait of a strong leader. Ones own professional prowess is all well and good, but no one can handle all aspects of everything.

Monday, January 18, 2016

World's Biggest Problems and My Answers to All of Them*



  • Refugees. There is a reason its being referred to as a "crisis". So what do we do?
Obviously the solution here is to form an independent refugee state funded by the UN. In essence, UN membership would pend on proportional contribution to the upkeep of the established international refugee haven, the incentive for this being that in the long run it prevents any one or small group of countries from bearing the brunt of the refugee burden. It takes a more experienced mind than mine to know the full implications of forming such a state, but how hard could it be?
  • World Hunger. People are starving, almost 21,000 die every day to hunger related issues. 
It has been said that world hunger is a problem of distribution rather than a lack of resources. For example, 40% of food produced in the US is thrown away uneaten even though 1 in 6 Americans struggle to put food on the table.  I believe a legitimate way to reduce waste is to re-evaluate our use/sell-by dates, which are arbitrary anyway. So much food is thrown out just because it passes an assigned date by a day or two, when in reality its perfectly good and probably will continue to be so for awhile. A price incentive system could also be implemented to encourage consumers to buy older food first.
That, or we just start eating the poor people. Which actually brings me to the next issue...
  •  Overpopulation. People are being born at an exponential rate. We will eventually reach a point where the Earth will lack the resources to sustain us. In fact, if the entire world went expended resources at the rate of the US, we would need 5 Earths to support us.
The previously mentioned solution would work as a pretty effective culling measure. Alternatively (as some might be averse to the practice of cannibalism) I feel the best course of action is either to expand our civilization outside of the boundaries of Earth through space exploration, or to continue to find new ways to harness the Earth's resources (global technological initiatives and investment).
  • Global Warming. The Earth is heating up and a large majority of scientists agree that it is caused by people. 
The solution here is simple and we have the technology to do it, unfortunately the problem lies within the politics of implementation. "Green Earth" initiatives are expensive, and unfortunately there is really no currently existing method of forcing a country to curb their carbon emissions. The solution of this problem would basically require the creation of a global non-affiliated agency with the power to enforce climate initiatives. Its never going to happen.
  • Terrorism. Individuals that rise up and commit violent acts against populations as a whole, leading to the deaths of countless innocents. How do we stop it?
While some countries have attempted a very straightforward approach, such as declaring war on it(because apparently you can declare war on a concept), I believe that this is an issue that must be treated before it begins (i.e we must stop the creation of new terrorists). I feel that once a terrorist organization exists, it is too late to simply wipe it out. Ideas, unlike governments and nations, cannot be warred against effectively because they have no boundaries, supplies, or limits in general. Ideas fail when individuals cease to hold them. It is for this reason that I believe that the best and only real way to end terrorism is to aid the countries that are producing terrorists. Turning countries into war zones in the name of eradicating a terrorist cell only serves to create more terrorists in the long run. 
Alternatively, we implement terrorist licenses. If we can't eradicate it, we should at least regulate it.
  •  Wealth Distribution. As a capitalist, I believe income inequality is healthy. However, the degree to which wealth has accumulated at the top(especially within a global context) is a bit too extreme.
Well, other than the more obvious solutions but impractical solutions(global communism hooray!) I suppose a good place to start is the investment in developing economies. Oddly enough, I feel that this is a mutually beneficial possibility that is being completely overlooked by investors. Sure, sending money to Fejfkekfhwue so they can create a power grid sounds like a risky allocation of resources, but I personally feel that this is a hugely untapped source of potential.
  • The fact that at any moment a fairly small amount of people could decide to end the world due to nuclear weapons. Its more than a little unnerving. 
I suppose the only way to fix this one is to develop some sort of defense mechanism that could adequately defend from a nuclear weapons, because at this point we know how to make them so they aren't going away. This would be accomplished through increased defense spending. Alternatively I suppose we could dismantle every single one and then celebrate the occasion with a mass burning of all materials to do with nuclear weapons, and then end the celebration with the execution of anyone who already knows how to make them. Too much of an emotional roller coaster to be practical.
  • Labor abuse. Its no secret that big corporations take advantage of less developed countries lack of regulation to acquire ludicrously cheap menial labor. Unfortunately, this cheap labor results in the downright horrific treatment of workers (hence the sweatshop stereotype).
Unfortunately the US cost of living has basically eliminated the possibility of cheap menial labor jobs. More and more developed nations are eliminating the need for non-skilled workers through technological advancement. I think the only real answer to this is a global education initiative. We have to train these people with a useful skill. Either that or we can destroy our automated assembly lines and go back to hand-making stuff (it's what the Luddites would have wanted).
  • War. Armed Conflict. Whatever you want to call it, its like humanities oldest problem: when we group up we get angry at other groups then start killing each other. 
Such an ancient problem is obviously rooted in who we are as a race right? I beg to differ. I wonder if we have ever tried to hug it out. I mean it. Just...like get everyone together and force them to hug. It's worth a shot right?
  • Apathy. I believe that the majority of people don't bother to try to make a difference and stick to doing whatever it is they have always done because they believe that nothing can change, that the world is too big for an individual to effect in the grand scheme of things.
This can be traced back to quite a few causes, but I believe that this is largely because influence has been so highly concentrated at the top of the pyramid and is less dispersed as society has progressed. I don't mean this in the sense that our lives are dictated more by people on top than they ever have been, in that way we are more free today than people really ever have been. I mean that the nation shaping, Earth moving, global decisions are made mostly by a relatively small group of people that most feel incredibly disconnected from. It is this sense of disconnection that causes them to not exert the influence that they do have. I believe the best way to do this is more promotion of opportunities for citizen involvement(kind of like the way clubs/student organizations are so vigorously promoted at college). The nation stands to gain quite a lot from this, if only just a more informed voting populous and higher voter turnout.  

*note: many of these answers are satirical or have satirical elements. They are not meant to be taken seriously. Please understand, I am also not making light of these issues. They are real and we all need to work together to solve them. I was simply having fun with an assignment. 

Sunday, January 17, 2016

Reading Reflection: Week 2

     To start off, I was surprised to learn in this weeks reading that entrepreneurial endeavors are actually a whole lot more successful on average than we tend to believe. I too held to the notion that the majority of start-ups are doomed to failure, but according to the text most new businesses actually have a success rate of a little over 50%. Sure, its still very risky when our consider the alternative of  a regular salary paying job, but considering the possible rewards and the actually not-so-dismal chances, going out on our own now seems to me a fairly appealing prospect.

     On that note though, I was a little confused by the characterization of the individual entrepreneur in this text. The author constantly refers to them as "risk-takers", while at the same time discussing how overly emphasized this aspect of entrepreneurship is, that in reality entrepreneurs do whatever they can to mitigate risks. While not perhaps strictly contradictory, I felt as though I was reading a mixed message.

     Two questions I would ask:

  • Wouldn't the Venture Opportunity school of thought simply fall under the "unique people"category in the Strategic Formulation school?

  • When did the term "entrepreneurship" originate? We know that it is derived from the French meaning"to undertake", but when did it actually become a stand-alone term?


     Something I disagree with the author on is the notion that entrepreneurship is an acquired skill. In other words, I disagree with with his disagreement on "entrepreneurs are born, not made". I believe there is an element to entrepreneurship that is simply innate, that only people with a certain personality possess. Practice can improve anyone's skill in basically anything, but I also believe that some people are simply born to do certain things (i.e. they are talented). I have friends that will always be better than me at certain things, regardless of the time time spent practiced, and vice versa. I believe this applies to all things actually. There is both learned and innate ability.

Friday, January 15, 2016

Bug List


Bug List
  • The shower curtain in my bathroom keeps falling
               The springs are worn out

  • Card Decks come with Jokers that are almost never used
               Jokers are used in a couple of obscure games and rule sets

  • My roommate leaves his dirty dishes everywhere
            He knows I will eventually get fed up with it and wash them for him

  • Every phone has its own unique charger. It sometimes feels like I have the tools to charge every phone in the world but my own.
            Companies do this on purpose to force you to buy their brand specific products

  • People who have access to clean tap that buy bottled water. It feels excessively wasteful on multiple levels.
           People believe that bottled water is somehow "purer"

  • I seem to lose my keys at least once a day.
           I rarely set them down in the same spot

  • Locks in general. I feel that over the long term they slow down the owner more than they ever will any thief.
           People have been conditioned to believe and fear that the second the leave something               unattended it will be swiped or tampered with
  • My car always has one too few cup-holders.
          I guess I carry around too many cup like objects
  • I correct auto-correct way more often than it corrects me
         Auto-correct is completely unfamiliar with colloquial language
  • When I sleep under the covers, I am too hot. When I sleep on top of them, I am too cold.
          Florida in the winter
  •  Diamonds are intrinsically worthless but through artificial supply manipulation and clever marketing (both in the past) they have been made into an astronomically expensive necessity that is a required purchase of any man who plans on getting married.
         De Beers historically had a monopoly on the diamond market
  • Shirt sizes seem to be completely arbitrary
          Different brands and styles are meant to have different fits
  • When I am unable to watch a Youtube video not because the video won't load, but because the ad wont load.
          Ads are necessary for Youtube's revenue, if they won't load the users need to refresh the page and load another ad for the benefit of the site.
  • When I am punished by Pandora for skipping a song that it had just played 10 minutes ago, and again a half hour before that.
          Pandora has a tendency to play ads when you hit the skip button, regardless of circumstance
  • Zero tolerance policies and similarly treated laws. Context is always important and each individual case requires discretion.
          If you treat an act harshly enough in every case, supposedly it will just stop happening
  • When a song gets stuck in your head but you can;t remember the title, artist, or any lyrics
           Catchy beats
  • That every store on the planet has a membership program which the cashier is required to pitch to me as part of their job, even if I am only buying a single item.
           The companies are trying to build repeat business/customer loyalty
  • My computer always automatically  restarts while I am doing something incredibly important that can't be interrupted.
         I ignore the day in advance notice.
  • McAfee anti-virus seems to be as annoying as any virus I have ever had in the past.
          It spams notifications at a rate of about once per 30 minutes that pull me out of all windowed tabs. 
  • The first time I completed this assignment my work didn't save even though I hit the save button like thirty times, and I only now have finally finished it all over again at the cost of about an hour of my life.
          I didn't save it in an alternative document

Reflection
I found this assignment really difficult at first, but once you get into a certain mindset you suddenly recall all the things that were frustrating you just a few minutes ago. I find it kind of interesting that it was so hard for me to complain at first, as I see myself as a sort of whiny person in general. I can see how this activity correlates with the entrepreneurial mindset. In order to come up with innovative solutions to problems, the first step is to be able to identify them. Other than the fact that I had to recreate the above list from scratch, I enjoyed this activity.

Wednesday, January 13, 2016

Introduction

(Myself as Hippie Jesus)
My name is Jacob Welch and I am from a suburbia in the middle of nowhere called Lithia(its about 30-45 minutes from Tampa). My core family is my Mom, Dad, and little brother, as well as my two cats and a very serious/grumpy rabbit named Paulson. I'm the kind of person that can enjoy just about anything, but if I had to narrow it down my 3 main interests are music, acting, and writing. As an example of this one of my favorite things I have ever done to date was play a 60's version of Jesus in the musical Godspell, where I got to both sing and act. I had never lived anywhere but southern Florida until recently, when I took a gap year between high school and college to teach English in the city of Bangalore, India. My intended major is Finance, but other than that I have yet to decide what to do with my life.

Entrepreneur Story

Well, as far as entrepreneurship goes I am thoroughly a novice and have little applicable experience, with one exception(kinda). When I was a sophomore in high school a friend and I essentially attempted to start a business. It started as a joke, but eventually evolved way beyond that.

I forget the original context, but one day at our lunch table I made some joke that I have forgotten at this point but essentially had to do with a hypothetical business called Victor's Secret that sold intimate apparel for men(I hope the inspiration/ripoff here is obvious). Well, the joke grew and before long we had a long list of ideas mapped out not only for what would be sold at this hypothetical store, but how we would go about marketing and store placement. At some point this transitioned from joking to actual brainstorming, brainstorming to research, and research to planning. We eventually even attempted to contact the actual Victoria's secret company to set up some sort of appointment where we could discuss our ideas for the possibility of a sister store chain. Unfortunately, they would not even humor us, and the meeting never happened, but nevertheless this was probably my closest brush with the entrepreneurial process.

I enrolled in this class not because I am a business major and it is recommended (though I would be lying if I said that wasn't a reason) but also because I seek a place where I can gain experience with the process of, and learn how to more effectively develop new ideas. I believe it is an invaluable skill in almost any field, and particularly crucial in this one.