22A - Elevator Pitch No. 3

Elevator Pitch No. 3

I received some positive feedback from my last elevator pitch that focused mostly on the delivery aspects of it. None of the feedback surprised me, but rather it reinforced my pitch and my business opportunity as a whole. I found some feedback on how to position my camera a little bit better to be beneficial to improve the overall appearance of my pitch. The feedback wasn't as in-depth as the last post, so hopefully that means I made the right corrections in terms of actual substance of my pitch.

This time around, the pitch felt like second nature as it was so much more smooth and natural sounding. I also adjusted the camera height to eye level so it didn't appear like I was talking down on my clients.  Speaking to a camera takes a little while to get used to and comfortable with, but this time around it wasn't an issue and just goes to prove that practice does make perfect. 

21A - Reading Reflection No. 2

I read Innovation and Entrepreneurship by Peter F. Drucker.

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

This book breaks entrepreneurship down into three sections: "The Practice of Innovation," "The Practice of Entrepreneurship" and "Entrepreneurial Strategies." These sections help make sense of the process entrepreneurs go through from identifying an opportunity to managing one to highlight how it is an ever-changing practice. The three sections help make the argument that innovation is only one step in the direction of becoming a successful entrepreneur and without proper management to solidify your niche in the market, it could be a lost opportunity.

2. How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

This book connected with and enhanced what we've learned in ENT3003 so far by reinforcing the idea that entrepreneurship is about constantly identifying and fulfilling unmeet needs in society. It also enhanced my interpretation of how innovation is crucial to the evolution of an opportunity and its position in the market place.

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

My exercise would involve giving students a made up business that already operates semi-successfully within their opportunity and market. Then, I would ask them to identify new areas of innovation within the opportunity to expand the current business and present new niches in the market.

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?

I've always thought of starting your own business as a fairly risky venture, so I was a little surprised when I read that entrepreneurship shouldn't be associated with risk as much as it is. The reasoning in the book makes some good points as to why we shouldn't view entrepreneurship as risky because it could hindering us from reaching out peak success.

20A - Growing Your Social Capital

Jeff Reiland: I want to add Jeff to my social network because he has real estate investment experience and an extensive network of commercial real estate properties. He would be the domain expert in helping me grow my network of gyms. He was referred to me by a friend that is a real estate agent and we set up a time to meet over coffee. The favor Jeff was able to do for me was set me up with the foundation of what I need to know before the first purchase even begins. He said rushing into commercial estate can be very tricky and risky. Currently, there is no expected return, but we will be in touch moving forward. Jeff would be a major asset to my opportunity in locating, purchasing and managing my gyms. The capital is very important, so I think Jeff's assistance in purchasing the best places is crucial.

Cory Carlson: Cory is a physical therapist that would be beneficial to have in my social network. Cory would be the expert that is doing the research and would be the brains behind the service we are selling. I did a Google search of physical therapy trainers in the Gainesville area and found Cory who works at a gym with a clientele aging between 40 and 70 years old. Cory will be able to help turn the business idea into a tangible service to help people. There wasn't a solid favor exchanged, but he was able to share some information and stories from his experiences as a physical therapist. Having Cory in my social network would help by regulating patient care and ensure that our service is advanced and helping people in the best, most effective way possible.

Lori Amborn: Lori is a medical supply purchaser for hospitals. She would be an important supplier to have in my social network to help supply me with the leading orthopedic training equipment.  Lori is a family friend that has been in the medical supply chain industry for over 20 years and enjoys what she does. She said people assume drugs or needles when they hear medical supply purchaser, but it really ranges from X-ray machines to elastic training bands. she was able to share some tricks of the trade and elaborate on the logistics and business side of the operation which was beneficial. Having Lori would help in supply chain management and business operations from a medial standpoint.

This networking experience has been much different than my previous ones. Besides getting to know someone a little bit, I never went into networking events with an exact objective until now. Going in to meet with these people with a plan made it more engaging and lead to positive results and curated relationships that could be lucrative in the future. This experience taught me the importance of always having an objective when meeting with someone.

19A - Napkin Idea No. 2

1. My name is Caelan Barnhart, and I am a senior public relations student. My talents include being an adept problem solver that's able to adapt quickly to new concepts or situations, while being an effective communicator is a top skill that I've used to create and solidify relationships. I grew up around real estate investors, which sparks my aspirations of creating my own extensive network of residential and commercial property. My investment-minded goals fall in line with helping those that face the issue of funding a proper retirement. 


2. I've identified that there is a widespread issue of people not being able to properly fund their retirement, but the question of how to fix that is a little harder to focus in on. There are a few options I've explored such as create a real estate investment firm in which the elderly can invest in to hopefully reap some rewards. There is also a possibility that I think makes a lot more sense and compliments my future aspirations and that is creating a network of gyms that specialize in the health and wellness of people 60 and up in hopes to reduce the costs of medical bills during retirement. The multidimensional gym will provide personalized fitness-minded, non-pharmaceutical treatments. The overall goal and the combined effects of both strategies could work together to reduce expenses and increase funds to make retirement easier for those in need.

3. Our prototypical customers will be 60 and up and primarily those without a large retirement savings and express some concern for the future. Popular retirement states and communities would be the major target. These customers will be out of shape meaning a little exercise could go a long way to relieving some of the medical hardships they face. They've worked hard their whole lives and never had as much time as they would've liked to stay in shape and focus on their health. Our customers are ready for a change.

4. Our customers would utilize my service because it could help create a sense of peace of mind and stability in a time that could otherwise be rather difficult. Investing in their own health might be the most beneficial thing to do around this time and proper asset management is crucial. This service allows us to help them with personalized and intensive attention to detail to improve their health and wellness. 

5. Most retirement plans are cut and dry, require high risk investments, and usually the rewards, if any, are not enough to sustain you throughout retirement especially if you have high medical bills. Investing in your health and wellness by choosing a gym that's rooted in medicine to help you stay in your best physical condition can help minimize medical bills and free up cash for other, more meaningful moments. Gyms are shifted toward the younger generations and can be difficult and intimidating for the elderly trying to improve basic movements. The service will be doctor-patient like, but more centered around their natural health.

I think these five factors I talked about above come together pretty well for the most part. The goals of each one compliment the next and aim to do good for other people. The one aspect that is a little weaker than the others is the exact service that I am offering, but from some feedback and further analysis, I was able to strengthen that area of the business opportunity and pin-point my exact target audience. My service in much more well-rounded now, then it was before and the opportunity as a whole is more complete. 

The feedback that I received was very positive and supportive of my opportunity as a whole, which instilled confidence in me that I was moving in the right direction. However, I knew I had to narrow in on my exact product and service that I am selling. I think I was able to do that based off guidance from the last few assignments in this course. I was able to provide further detail and description of my service and elaborate on my prospect customer. I also applied more depth to the importance factor of my product and expanded on why the customer should be interested in my service. 

18A - Create a Customer Avatar

Pictures from: https://mybluerobot.com/create-your-own-avatar/ (Links to an external site.)

My customer avatar is a 60-year-old that goes to work Monday through Friday and enjoys spending time with family on the weekends. They've worked hard their whole life to provide for their loved ones and now as they near the time for retirement they might not have enough saved up in the bank to take care of themselves. They live modest, yet appreciative lives and want the best for everyone. They aren't as active as they once were and their health is becoming a constant concern. They're worried for the future, but don't know what their first step should be.

I don't have anything in common with my customer avatar quite yet, but I know that when it comes time for me to retire, I don't want to be under any economic stress, so I can take care of myself and spend time with my loved ones. There is definitely a connection between my future goals and this business idea and customer avatar.

17A - Elevator Pitch No. 2

Elevator Pitch No. 2

The feedback I received wasn't silly or wrong at any time, and I found it to be constructive. From the feedback I knew I had to practice my delivery a little bit more and work on my fluidity. I became aware that my product/service got lost in some of the statistics and supporting information I provided, so it was helpful and I think crucial to my pitch that I was able to learn from the feedback I received. There was some aspects of the pitch that I wasn't too sure about when I first published it and some of those aspects received positive feedback, which cemented my confidence in them.

I practiced my pitch and became comfortable with my delivery and was able to shorten it a little bit as the pitch almost became second nature and more fluid. I also played with the camera angle to make it appear more engaging and easier to watch. The feedback helped me make minor tweaks and gave me an indicator of what of was good and what needed improvement.