Your Venture's Unfair Advantage

1.  Human Capital: Knowledge of business      
1.  Valuable: I already have experience with business, so it isn't something that I have to stop and learn before I can continue this start-up.
2.  Rare: This is not particularly rare since many people have business knowledge. 
3.  Inimitable: It can be duplicated. 
4.  Non-substitutable: However, there is not really a substitute for knowledge.
   
2.   Social Capital: Wide network of knowledgable people
1.  Valuable: Having a network is very valuable
2.  Rare: While it isn't rare to have a network, the combination of people that are in my network make it rare because there's a small chance of someone replicating my exact network of people.
3.  Inimitable: Even though other people can know the people I know, there is a small chance they will be able to 
4.  Non-substitutable: It is difficult to substitute a network.
   
3. Human Capital: A deep understanding of my own product and how it works
1. Valuable: It is incredibly important to understand your own product. Then, you are able to adapt to the market more easily. 
2. Rare: It isn't rare, but takes time to fully understand a product.
3. Inimitable: It can be imitated, but, again, that takes time.
4. Non-substitutable: There is no substitute for understanding your product.
   
4. Capability: Critical thinking
1. Valuable: Critical thinking is extremely valuable because it's important to be able to think on your feet and solve problems quickly. 
2. Rare: The skill itself is not rare, but this particular critical thinking process is unique to me. 
3. Inimitable: Plenty of people have critical thinking skills. However, not all critical thinking processes are equal. 
4. Non-substitutable: There is not really a substitute for critical thinking or problem solving. It is an important skill to have as a business owner.
   
5. Capability: Strong work ethic
1. Valuable: It is valuable to be willing to work hard to accomplish what you want because it sets you apart from those who won't work.
2. Rare: A strong work ethic is not rare because it is a capability that many people have. However, it is unique to every person.
3. Inimitable: Many people have a strong work ethic so any firm could have it.
4. Non-substitutable: A strong work ethic is not a necessary skill to succeed, although, it does help. There are substitutes for it. 
   
6.  Capability: Interpersonal skills
1.  Valuable: In a world where customer service is highly valued, it is very valuable to be able to work well with others. 
2.  Rare: Interpersonal skills are not rare, since may people work well with others. 
3.  Inimitable: Many people have this capability so it is indeed imitable. 
4.  Non-substitutable: There is not really a substitute for interpersonal skills. You either have it or don't.
   
7.  Capability: Communication
1. Valuable: It is very valuable to be an effective communicator. Otherwise, it is easy to create confusion and uncertainty.
2. Rare: It is not a rare skill.
3. Inimitable: It can easily replicated and learned.
4. Non-substitutable: There is no substitution for poor communication skills.
   
8.  Capability: Adaptability
1. Valuable: To be able to adapt quickly in a market that often changes is an important skill. 
2. Rare: Being able to adapt is not rare. 
3. Inimitable: Other companies can easily imitate this skill. 
4. Non-substitutable: There is no substitute for adaptability.
   
9.  Capability: Teamwork
1.  Valuable: Being able to work well with others is an important skill because it is close to impossible to try maintaining everything on your own.
2.  Rare: Working well in a team is not a rare skill.
3.  Inimitable: It is a skill that can be easily replicated and learned. 
4.  Non-substitutable: There isn't a substitute for being able to work well with others.
   
10.   Capability: Time Management
1.  Valuable: When running a business, time is limited and precious. It is important to be able to manage your time wisely. 
2.  Rare: Time management is not a rare skill. 
3.  Inimitable: Time management can easily be learned and imitated. 
4.  Non-substitutable: There is not substitute for this skill. 

     After conducting a VRIN analysis of all 10 of my resources, I have determined that my top resource is my network. A network that is specific to you is a rare resource and difficult for other companies to replicate. This makes it an incredibly valuable and important resource that needs to be cultivated. 

Elevator Pitch No 3

Pitch: https://youtu.be/xruQJdoaCHM

Reflection and Changes:
     For the most part, the feedback I received was positive on my last pitch. However, there was one suggestion to place the camera at eye level so I could into the camera more easily. As a result of this feedback, I did indeed lower my camera and tried to improve my eye contact with it. As far as the actual content of my pitch, I did not change much.

Reading Reflection No. 2

Book: Cognitive Surplus by Clay Shirky

1. What was the general theme or argument of the book?
        The general theme of Cognitive Surplus is that the development of new technology (i.e. the Internet and social media) has a huge effect on the lives of people. Through embracing these new developments, people are able to expand themselves, and therefore, their creativity. Shirky's book looks at how technology betters people by allowing them to share ideas and beliefs that would not be able to be shared without the Internet.
   
   
2. How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
        Both this book and ENT 3003 discuss the enrichment of people. ENT 3003 uses entrepreneurship to solve the problems of people. The book, discusses how technology helps people solve those problems (and learn more about said problems). Both discuss how to
   
   
3. If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
        If I had to design an exercise for this class based on Cognitive Surplus it would be to find a couple of problems that were solved by new technology. This technology could include television, the computer, Internet, etc.
   
   
   
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 I had when reading this book was actually at the very beginning of it. I wasn't expecting a small history lesson in an entrepreneurship book. I also had no idea about the gin craze in London in the 1720s. While I do enjoy history, I had never heard how popular gin became at that time. It was actually very interesting.
   
   
   

Growing Your Social Capital

1. I first contacted Josh L. He is the Senior Mobile App Developer at Core Mobile Apps. Core Mobile Apps is a company, located in many regions in Florida, that specializes in mobile app development, search engine optimization, and web design. Josh fulfills the slot of 'domain expert'. I found him through a basic Google search of app developers in Florida and contacted him through the company's website. Ideally, my exchange with him will give me more knowledge and background information on what I will need in order to develop the app required for my product. Including Josh in my network could be incredibly helpful, especially down the road if I do plan to take this a step further.
   
2. I next contacted Brad Rose at Rose Research. Rose Research is a market research company that conducts global market research as well as B2B market research. Brad Rose has conducted both quantitative and qualitative research at Rose Research for the past 20 years and fulfills the 'market expert' slot. I found him through a Google search that recommended Rose Research and contacted him through the website. Brad Rose could provide very insightful and helpful information regarding the uses and perhaps even the popularity of the product I am offering. Having Brad in my network would certainly provide me with quality information and the ability to further understand my market.
   
3. Finally, I contacted Olivier at Goverlan Reach. Goverlan Reach is a B2B company that offers remote IT support, systems management, IT management, and manage service providers. Goverlan Reach helps businesses by saving them time and working efficiently. Olivier fulfills the 'supplier' slot. I also found him through a Google search and contacted him though the website. Olivier could provide insight on selling a product from one business to another. Having him in my network could be very beneficial and allow me to understand the nuances of selling B2B. 

Reflect: This exercise has helped me develop 'networking' skills. Networking can be incredibly challenging, but with experience it can become a much less daunting task. This exercise was a good first step towards building my network. This experience was different from my past networking experiences because those were all face to face and not online.

Idea Napkin No. 2

1. You
   My name is Veronica Rosenbaum, and I am a business major at the University of Florida. My parents are entrepreneurs and have owned several businesses throughout the years. Because of this, I have grown up working with my family and learning a lot about the elements of business and customer service. As a result of my experience, I am adept at solving problems quickly and efficiently.
2. What are you offering to customers?
   I am offering customers a program that blocks unwanted and bothersome calls from telemarketers and robocallers. My program gives my customers the ability to stop relentless robocalls that use up precious time, especially for businesses or people who use their phones to conduct business. 
3. Who are you offering it to?
   I am offering this program to individuals and businesses. Anyone who uses a phone that receives robocalls or telemarketer calls is a potential customer. If an individual uses this program, they can download it in the form of an app onto their smartphone. However, if a business uses this program, they can use it through their service provider.
4. Why do they care?
   My potential customers care because, depending on how many of these calls they receive, the calls can quickly become irksome and inconvenient. This particularly occurs when it is a business who receives these calls. If they receive too many, it can begin to impede their ability to answer the calls of their customers.
5. What are your core competencies?
   One of my core competencies is my ability to problem solve. After watching my parents over the years solve problems on the fly, I have learned how to do the same. I am also flexible and can adapt easily to any situation. 

I do think these elements fit together nicely. It is important to be able to problem-solve and be flexible and adaptable when starting a business.

Feedback: I did not receive any critical feedback on my first idea napkin. The feedback I had received was all positive, but still very much appreciated. However, I did alter my idea napkin to be a specific as possible. 

Elevator Pitch No. 2

1) Pitch
https://youtu.be/j83hW9JBwcY

2) Reflection
I really appreciated the feedback I received on my pitch from last time. The positive criticism allowed me to expand upon my good points and to try to remain thorough in my explanation of my product and problem.

3) Changes
I did not change a lot of my pitch besides some information at the end. I did, however, try to slow down the delivery of my speech because I have a tendency to talk fast.

Create A Customer Avatar

My customer avatar would be a forty year old male business owner or one who conducts a lot of business on the phone. He most likely owns a nice vehicle, perhaps a truck or expensive car. He spends most of his time working and talking on the phone.  He is typically always busy so he doesn't do much in his spare time besides relax and watch some television. He most likely tends to watch the sports channel. He also has a Facebook account and is always scrolling through it, He goes out with old friends as much as he can so they stay in touch. He also has children who are most likely in middle school. Because he is always working, his body feels older than 40, but his mind does not think that he is 40. He does not read much unless it is something required for work.

I do have a little bit in common with my avatar: I am also constantly busy. I am either doing school work or working so I do not have time for much else. However, my avatar has the most in common with my dad since it is loosely based on him. He is also a business owner who works through his phone a lot and is constantly busy. I do not think this is a coincidence because we always draw from our knowledge and experiences. We cannot create something out of thin air, because the idea has to originate from somewhere.