Venture Concept No. 1

Opportunity
As a student on the verge of graduating college and about to start my career, I realized that there was a major problem with our education system. Our schools educate and prepare us for the academic rigor of higher education. Our institutions of higher education prepare us for the challenges we are to face in our careers. However, there is no organization or program, private or government funded, that connects the two key stepping stones in our professional careers and guides us towards the right careers for us. Whether they know it or not, every student K-12 has a need for career guidance, especially in their middle school and high school years. Currently, the only source of career guidance the average high school student receives is from their parents or their guidance counselors. This however is not enough if we want to give our future generations the best chance to pursue the best career for them. This is a huge opportunity to improve our education system and make in more efficient and effective. This opportunity however will only last until someone else steps up to address this need. If the solution can be applied nationwide, it could help millions of students save time, money, and could help them fulfill their potential.

Innovation & Venture Concept

What students need is an innovative program that guides them along the right career path as they transition into high school and eventually college. The innovative program would have to implement several key features:

• Career shadowing program
• Professional mentorship
• Career counseling
• In depth academic analysis

The career shadowing aspect of the program would expose the students to different professions and careers in various industries. This shadowing program would help students explore their career interests and perhaps introduce them to something they had not considered before. This exposure to different careers would help eliminate, create and modify career options as the student understands that that career in greater depth.

The program would also assign mentors who can connect with the students and help guide them along, answering any questions or concerns that the students may have. These mentors would change as the students’ interests and career direction changes.

The program would also provide counsel and career advice as the student progresses through his education. By periodically meeting with a trained career counselor the student can continue to narrow his career choices as he approaches graduation.

By working together with the student’s schools, the program can analyze the student’s academic strengths and weaknesses. Having a clear picture of where the student excels academically, the program can help guide the student toward a career he can be successful in.

Although this program is initially intended to be part of a nonprofit organization, it could be
privatized and its services could be sold to private schools. The price of these services have not been established yet since I have no idea would be an appropriate price. That being said I think there will be many parents, students, and schools interested in this idea because it is a major issue as the students begin college. And seeing as there is currently no competitors, I think it would be easy to capture the interests of many students nationwide. The most important thing is to have this service available to as many people as possible, and to give them the best experience they could have. And being a non-profit, we can rely on other organizations or on government support to help finance our services.

Three Minor Elements
I think my most important resource will be my clear vision for this venture and my motivation to make this idea a reality and a success.
The next service the program could provide could be connecting students to different internships or volunteering opportunities that could help them on their professional journey.
In five years I want this venture to gather enough support to be implemented at least locally. As I evolve as an entrepreneur, I will try to make this venture a reality and get it to the point where it can grow steadily and continue to help students as I move to the next venture. In the following decade I want to have gained enough experience with this venture so I can start to work in the business side of the design industry.

Week 11 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 
I think the whole nature of the article was surprising. Innovation and a strategy for innovation is a lot more complicated than I originally thought. It seems like finding a successful innovation strategy that works is the holy grail for today’s tech companies.

2) Identify at least one part of the reading that was confusing to you.
It was confusing when the author said that innovation is not creating customer value directly. I don’t understand why it wouldn’t.

3) If you were able to ask two questions to the author, what would you ask? Why?
I would love to ask the author how innovation and an innovation strategy can be applied to a service company that does not produce any product. I’m curious if the service itself would need to constantly try and be innovative or not.
I would also ask him if he thinks that having technological innovation is more important, or if business model innovation is more important for a business to thrive. I would like to know how he prioritizes the two.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I would only argue that innovation CAN directly add customer value because customers always want the newest, most cutting edge products.

Amazon Whisperer

My business idea is really a non-profit so it is hard to clearly determine any revenue drivers. But as an organization that would work with private and public schools the money would have to come from private schools or the department of education. If the organization was unable to be funded by either, the money could come from directly from families or other organizations who are interested in the program.

I don’t offer tangible product but I do offer a service. If I was to expand my service in some way I would offer more extensive career guidance as the students get closer to graduating from high school. There are many parents who are not sure how to help their children get to where they want to be, so they cannot offer help or advice in the career pursuit of their kids. Once the students has narrowed down their choices of what career they want, my organization could offer a career plan and timeline of what they need to do (academically, financially etc.)  to reach their goals.

This service goes beyond just telling the student what their best career option is, it lays out an action plan to help the student accomplish their goals. It definitely improved the customer experience and increases the overall benefits the organization has to offer.

Since my organization provides a service and not a product I cannot compare it to any amazon product. However for practice the product I chose is the  Photive PH-BTE50 Bluetooth 4.0 Wireless Sports Headphones.

These are wireless headphones that connect through Bluetooth and are designed for sports and workouts.

Most of the reviews for this product were not great. There was a great deal of them that complained about the durability of the product, claiming that the product broke as early as a week after purchase. They also talked about their disappointment in sound quality and about the fact that they do not stay on your ears very well.

I would change several things about this product starting with the quality of its construction and materials used in the casing and wiring. That would improve the products durability and sound quality. I would also change the design so that it goes around your ear for support and stability. 

This product however would not be tied in with my organization at all.

My Unfair Advantage

1.       Experience of going through public education system first hand.

a.       This is very valuable since this experience will help shape the program, and will point out what is needed from the program.

b.      This resource is not rare, since most US students have a lot of experience in the public school system.

c.       However, this is an experience that you cannot imitate unless you have gone through it yourself.

d.      You cannot substitute this resource because the value of it comes from it being first hand.

2.       Personal relationships with principals and teachers.

a.       This is very valuable because these people have a lot of experience and connections in the public education system.

b.      This is not rare since there are plenty of students who develop relationships with teachers and principals.

c.       You cannot copy the personal relationship that someone has so it is not very imitatable.

d.      I don’t think you can substitute the valuable experience or the connections these people have, unless you have it yourself.

3.       Connections to families with kids for feedback and ideas.

a.       It is very valuable since this feedback will guide the program.

b.      This is probably the most common resource. Everyone has this resource available to them.

c.       You cannot really imitate this, maybe with surveys but the genuine personal connection that will get you honest answers is hard to imitate.

d.      You could maybe substitute this with surveys but it might not yield the same results.

4.       Written and oral communication skill.

a.       This might be the most valuable or one of the most valuable resources. These skills are crucial to being able to connect with others and push this project forward.

b.      These skills in general are not rare but having these skills really developed and really sharp is rare.

c.       These are skills that you either have or you don’t have. They cannot be copied.

d.      You can hire someone that has these skills but you cannot substitute it another way if you don’t have it.

5.       Personal relationships with business owners and professionals

a.       This is the counterpart to the personal relationships with teachers and parents. It is highly valuable because I will get feedback from the professionals that would be shadowed by the students.

b.      This is not rare if you have had good experiences with former bosses or other professionals.

c.       Once again this is not easy to copy because it is personal relationships.

d.      This cannot be substituted unless you pay someone for their feedback and opinions and connections.

6.       Work experience in different industries.

a.       This is valuable because of the skills attained from the experiences and the personal connections made.

b.      This is not rare because most people have worked very different jobs.

c.       This is not hard to copy because most people already have that.

d.      Work experience cannot be substituted but is probably the most common resource.

7.       Access to college students for feedback and first hand experiences.

a.       This is the most valuable source of information for the venture since it centers around students and their experiences.

b.      This is not rare at all since there are college students everywhere.

c.       This could be hard to copy but not hard to obtain.

d.      You can gather information online or through surveys if you don’t have direct access to students.

8.       Professional connections to executives in HSF (Hispanic Scholarship Fund) and Coca-Cola.

a.       This could be valuable if I have to reach out to organizations or corporations to fund the venture.

b.      This is somewhat rare but if you look hard enough and are persistent enough you can reach the right people.

c.       You cannot copy these relationships but it is not too hard to create them.

d.      You can look for financial support somewhere else so you could imitate these relationships.

9.       Creative thinking skills because of experience and talent in visual arts and design.

a.       This might be the most valuable skill, not only for this venture but in general. These creative thinking skills separates me from most of the other people that might have the same idea. This skill will create new, original ideas and will help me solve problems others cannot solve.

b.      This is a rare skill since because not many people have it, let alone develop it.

c.       You cannot copy these skills, which is one of the reasons it is so valuable.

d.      You can hire someone who has this skill but it cannot be imitated otherwise.

10.   Fluent in spanish and english.

a.       This is valuable in order to communicate with others and be able to reach out to other markets.

b.      This is somewhat rare because not everyone has them but they are not hard to find.

c.       You cannot copy these skills but you can hire someone that has them.

d.      You can imitate it by hiring someone else.

My top resource is the creative thinking skills I have because it helps be solve complex problems by thinking about it in a different way than others. If you don’t have this skill you cannot imitate it or copy it. Which gives me a clear advantage since the skill is already rare to begin with, especially when it is combined with the business knowledge I have acquired through college education. 

Growing My Social Capital

Eric Thomas
1) Eric Thomas is a motivational speaker known as the hip hop preacher. He works with schools all around the country talking to students about success, motivation and determination.
2) He is the industry expert since he is providing a service to schools that will help students stay on the right path.
3) I remember he visited my schools so I searched for him on the internet and sent him an email since I’m in Madrid.
4) We exchanged emails and he agreed with the fact that students definitely need a career guidance program.
5) His knowledge when it comes to communicating with schools and different school district administrations will be very helpful.

R’Club
1) R’Club is a nonprofit organization that provides child care services to many elementary schools.
2) This organization would be a supplier since it supplies the elementary schools with needed child care services.
3) I remember going to R club after school as a child and how closely they worked with schools. I emailed the organization through the website and they directed me to Karen Pandy.
4) I sent the organization an email explaining my idea and they connected me with Karen who is willing to answer my questions and point me in the right direction.
5) This organization would help me organize an after school program if I feel like my idea would not work integrated into the school day.

Lisa Freeman
1) She is the principal at Pinellas Park Elementary school, where I went as a child.
2) She would be the market expert because she works with schools, parents, teachers as well as the education board of the county.
3) I gathered information on my old school and reached out to her with an email explaining my idea and asking her for her thoughts
4) As I said I sent her an email and she responded with a brief message supporting the idea.
5) She would be a great source of knowledge if I needed to approach the board of education or different schools.

Reflection-
I think this experience was very helpful in opening up networking opportunities and making contact with people that can help guide you and your idea in the future. It made me realize how easy it is to reach out to someone with a lot of experience in the industry or field you are interested in. I will certainly do this again if find myself really interested and invested in a certain idea.

My Secret Sauce

-My human capital is unique because of the combination of the following things:

1) I have a background in visual arts

a. I went to a visual arts magnet program in middle school and high school

b. I am currently working on a studio art minor

2) I have experience competing in high level competition

a. I competed in varsity soccer and tennis in high school

b. I played competitive region tennis tournaments 

3) I am fluent in English and Spanish

4) I have experience interacting directly with customers and patients

a. I have experience working in a hotel and dental ER.

5) I am able to stay composed and focused under pressure 

a. The pressure and adversity created by athletic competition and academic rigor has helped develop this ability. 

-The following voice messages are the interviews from the people that know me best.

-There were a lot of things that were repeated in every interview and that I included in my list. My abilities and perspective as an artist was a reoccurring theme in the interviews as well as my mental and emotional stability. However,  my list consisted a lot more of tangible abilities that can be useful in a work setting while the interviews mentioned things like my maturity and my relationship with those around me. I think the interviewees were right about who I am and what I have, and they even mentioned things that I did not think of.  I think I would keep my list as it is because I think it is closer to what the assignment asked for, but there are certainly things that were in the interviews that I did not mention or think of when I made my list.

Week 10 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The was the most straightforward chapter yet. It just discussed material that has already been covered in finance classes. So there was nothing that stood out as different.

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

I already knew the basic financial statements so nothing was confusing. 

3) If you were able to ask two questions to the author, what would you ask? Why?

I honesty have no questions for the author on this chapter. It is very straightforward and quite frankly pretty boring. It just explains and breaks down financial statements

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

Once again this chapter did not have a lot of opinions from the author. It was very cut and dried.

Elevator Pitch No. 3

https://www.youtube.com/watch?v=MHVAbaMFkQM&feature=youtu.be

2) A reflection on the feedback you received from your last pitch. Describe what stood out to you as important, what feedback surprised you the most, what feedback you think was outright wrong or silly. 

Several things from the comments stood out to me. Most of the students said that the beginning of the pitch really grabbed their attention and that I looked professional in the video. They all noticed the difference between that video and the previous one which did not include the mentorship program. I think all those points were important but what surprised me the most was the fact that a couple of them mentioned that I lacked enthusiasm in my speech. I don’t think there was any comments that I thought were wrong all silly. Thankfully the students gave very constructive criticisms.

3) What did you change, based on the feedback?

I tried to be more enthusiastic in my new pitch and less monotone. That way I'll be able to hold the viewer's attention all the way through.

Week 9 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
- I did not expect that there would be so much information on social media marketing. I thought since social media and its massive growth is something relatively new, there would not be so much research and information on it at this stage.
2) Identify at least one part of the reading that was confusing to you.
- I am not sure what the author means when he talks about developing an information gathering instrument. I know he describes a questionnaire  as one of these instruments but I wonder what other alternatives they are,
3) If you were able to ask two questions to the author, what would you ask? Why?
-What are some other examples of information gathering instruments? So that I am aware of other tools available.
-What is the most overall effective marketing philosophy?
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
-The author talks about how social media marketing does not control the conversation between customers. However, I disagree because I think that if you can control the message you send and the way it is framed, you can control the conversation a certain way.

Idea Napkin No. 2

1. My name is Juan Muñoz and I am a third year economics major. I have a background in art and design and I am currently working on a minor in studio art. I have worked for several small private businesses including hotels, county clubs and dental practices. I see my idea as more of a non-profit organization rather than a business. My hopes are that this idea grows enough to be able to help many kids nationwide and that I am there to help it grow and succeed until it reaches a point where it is making a big difference. I think this idea could potentially be a major part of my life and possibly a lifelong career or a major stepping stone to a lifelong career.

2. What I am offering to students k-12 is the opportunity expand their knowledge and understanding of different careers and occupations. I believe that there is a major flaw with our education system because there is very little if any career guidance for students throughout their years in elementary, middle and high school. My organization would help guide them to the career that is right for them by exposing them to different career paths through a shadowing program. The organization would work along with their education institution to come up with possible careers that would be right for the student according to their academic strengths, their preferences and their interests. The program would allow the kids enrolled to shadow professionals along with other kids and trained personnel every couple years as their preferences, interests, and academic strengths change. My organization would try to eliminate or reduce the amount of high school graduates that start college without an idea of what they want to major in.

3. My program would be aimed towards students k-12 of all different types of backgrounds that display good behavior and a promising academic future. Ideally my program would eventually be available to all students k-12 but at least in the beginning the program would have to start small until gathers more resources and support. My program would be offered to private as well as public schools although I imagine that it would be very difficult to gain approval by a public education board because of the long, complex process of approval.

4. I think that many organizations, educational institutions, families and even the government would be interested in financially supporting my idea because it would improve the education system and the economy in the long run if it is utilized nationwide. By having students start college with a good understanding of what they want to do and what they are good at, students will graduate faster and will enter fields and industries which are better suited for them. This would help improve the workforce and bring a new generation of professionals with more competence and potential in their fields. The students would be interested in participating in the program because it would help them explore different professions, expand their perspective, and alleviate the anxiety of not knowing what they want to study as college approaches.

5. I don’t think that I necessarily have any special competencies or experience that would set me apart from anyone else. However, this is an issue that I am passionate about and that has been troubling me since my senior year of high school. This issue has also been brought to my attention over and over during my college years as I talk to students who never received the professional guidance that they needed during their k-12 years. I firmly believe that my idea could make a big difference for many students and could help people live happier, more fulfilling lives. This belief and this passion for my idea sets me apart from other people that could start an organization like this.

I think all of the elements described in my napkin idea fit together. The only element that perhaps stands out is the fact that I don’t have any special competencies or experience that would make me a unique or vital part of this idea. However, I don’t think that this idea necessarily needs any special skills or experience. It would be great to have experience managing a program, however I don’t it is necessary if you have a clear idea and an organized plan.

The feedback that I received did not have any suggestions or criticisms. Everyone who commented on it thought it was a good idea and explained how from their personal experience how they would have benefited from this program. I did not have to change anything since no one gave me any suggestions. The five points that were highlighted and praised by my peers were:

1.       Enrollment at an early age.

2.       Variety in career exploration

3.       Give kids a good idea of their future career

4.       Decrease the number of times students switch majors in college

5.       Career support throughout high school.