Making It Real

Resume

https://docs.google.com/document/d/1N6Aafs8JWnLP_3shl6rBu-TVGqLWUC5ISPT-YRENOrg/edit?usp=sharing

My Exit Strategy

1) I am not sure what would my exit strategy actually be. If I feel like my business will be a staple in the community, I would probably stay with the business for several decades and retire or protect it as a family business and pass it down to my children. If it isn't a staple in my community I would probably sell the business to make a large return and start a different business. I think it ultimately depends on how responsive my customers are to the products we serve and the environment we provide. 

2) Like I said before, I would choose my exit strategy based on how my customers respond to my venture. I think this is very important to me because I want my restaurant to really feel like home. I want the food I provide to taste home cooked and I want all types of families to feel like they always belong and are welcomed. If they do and love the restaurant I would definitely keep it until I retire or pass it down to my children. 

3) I think my exit strategy has definitely influenced other decisions I've made in my concept. Because I hope to love it and make it feel homey, I think it has influenced the type of food I serve and the type of employees I hire. I also think it would influence the decor and location of the restaurant. My exit strategy has influenced how I plan to acquire and use resources. I want to buy food from local farmers who put all their love into growing healthy, fresh food. I also want to hire high school students to learn while they work and feel like they are a part of another family. That is why I named my restaurant "Homestyle". 

Venture Concept No. 1

"Homestyle"

My idea appeals to families and individuals who live a hectic lifestyle and are trying to eat healthy, fresh food. There are some places who do have some of these aspects to their business, but it is hard to find one that is fast, fresh, and healthy. This opportunity was created because many families not only have both parents working in their household, but they also have many after-school activities which make it difficult to have a healthy and fast cooked meal at home. This opportunity was also presented through individuals who work full-time and try to stay fit. Geographically, I think my restaurant would really appeal to metropolitan areas where many families and individuals live who like high pace lifestyles. Currently customers might be trying their best to satisfy this need by meal prepping on Sundays for the week. I think customers are pretty loyal to what they use when it really satisfies their needs well. I think the opportunity is pretty big. A lot of people in the US are over weight and I think the window of opportunity will be open for a long time. People are trying to change their way of eating and having an overall healthier lifestyle but it is difficult because unfortunately life does get in the way. 

 

My innovation is a restaurant that offers fresh, healthy and fast food to its customers. We will use local resources to create the food and make it in increments throughout the day to keep the food fresh. The food will be provided in an assembly lined fashion. Customer will tell the employee what type of protein they want and then veggies/grains, and so on. I would be selling plates of lunch/dinner food ranging from $5 - $15 and beverages ranging from $1-$4. Exact prices will depend on the time required to make the food and the amount of food provided per plate. 

My innovation will address the problem in many ways. My customers will be provided will not only healthy food but it will guaranteed fresh and local and it will be available for them the second they walk into the restaurant. I do not think it will be hard for my customers to switch to eating my food because there isn't really anything available like my product. I think my biggest competitors who be places like Wholefoods that provide healthy fast options at their stores but you do not really know how fresh the food is. The food is also self served allowing the food to be exposed to many people. I think my packaging, price points, distribution, customer experience and business location plays a huge part in defining my business concept. I think my pricing would have to be in a good range where customers do not feel like they are over paying for their food but that they feel like it is a fair price for the quality of food being provided. Customer experience and location go hand - in - hand I believe. It will have to be in an easily accessible location and the decor inside will have to feel homey and encourage happiness and relaxation. I think my restaurant would need about 7-8 employees. One manager, one main chef, two student chefs, two servers, and one bus boy. 25% of my employees will be hired from local schools who are interested in the culinary arts.    

My most important resource will definitely be the local vendors who will be providing the food and those students who are passionate about food. I think it would be hard for my competitors to copy these two things because it is not easy to find local vendors who will be able to provide all the food used. I also do not think many restaurants implement a learning program. Customers will be contributing to the community and at the same time eating delicious food. 

The next thing for my venture would definitely be creating a delivery app where customers will be able to choose what food they want and it would be delivered to their doorstep/place of work etc.

For me, I would want to have multiple locations after five years of opening my venture. In the next decade I would like to own other businesses and I think this first venture will help understand what it takes to run a business. 

Celebrating Failure

This past semester I did not have a specific failure that I clearly remember. I do believe I did fail at giving my all in this class. I convinced myself that I was working to hard and that was an excuse enough to not do a specific assignment during the semester. I did not complete any of the elevator pitches and now that I look back I realize that it was an important aspect to the class. Not only did I lose the points, I lost development that the elevator pitches would have given me. They would have not only helped me developed my idea further, but I know for certain I would have gotten more comfortable with preparing speeches and practicing them. After looking through other classmate's third elevator pitches, I realized that I really missed an important part of the class. 

I did learn many things through this failure. I realize that I sometimes try to come up with any excuse not to do something that makes me feel uncomfortable to accomplish. I also learned that when I just do something and get it over with, I am proud of myself and realize that it was not that difficult to accomplish. I think I realized that it is important to stop making excuses to not do things that make me feel uncomfortable and try to make an effort to complete the tasks in front of me. 

I think failure is very important in life. It helps you become a better and stronger human being. It helps you deal with other hard situations in life. It many cases failure is hard for me because I do not like how it makes me feel. However, I know it is important. When I fail I try to think about what can I learn from the situation, what can I do differently next and what actions did I take that led me to failure. I also reflect on any uncontrollable outside sources that contributed and piece together what I can control and what can't be controlled in the future when I am trying to accomplish a task or goal.  I think this class has really helped me realize how important it is to do things in a timely manner and allow myself to not get overwhelmed. I'm overall likely to not take these types of risks than I did four months ago. I think I always need to assess the situation and realize what is important and what can not be taken lightly. 

Amazon Whisperer

• Revenue drivers:
• Working with local vendors in the community to bring natural, sustainable food to consumer plates. 
• Working with local students from the community to teach culinary skills and positively impact their lives. 
• Families who live a hectic lifestyle and want to provide something beneficial and healthy for their loved ones without breaking the bank. 
• Providing options to consumers for all types of lifestyles. 
• What's next? 
• Having meals delivered to homes and offices. 
• Working with local chefs and vendors to develop a seasonal menu but always providing the basics. 
• Enhancing the existing product/service: 
• I think these two "next" things will definitely enhance my existing product/service. It would improve their user experience because it will become more convenient for them to have food delivered to them and give them more options with a seasonal menu. It will not increase their customer switching costs and I believe delivery will no doubt foster customer loyalty. 
• Similar product:
• The closest thing I found to my business is an an app called AmazonFresh. This app. According to the product features you can "shop complete grocery and selected Amazon.com aisles; choose time slots for doorstep and attended home delivery; and place an order quickly and easily". Even though it is not a restaurant, it does provide a service of bringing food to your doorstep. However, because it is only groceries, the food is not cooked and most likely not from a local vendor. This app is also only available to consumers in Seattle and Los Angeles metropolitan areas. 
  
• Reviews: 
• 3 1/2 Stars 
• What they like: convenience, packaging, everything seems fresh. 
• What they do not like: not reliable, expensive ($300/year fee + groceries + tip), unorganized billing/charge. 
• Changes to the product: 
• Make the app available to more metropolitan areas. 
• Include tip in the yearly fee. 
• Work more with local vendors. 
• I don't think this app would actually make a good addition to the service/product I am offering because my business is about food that is already made and the convenience that it brings. It did however help me realize that it would probably be very beneficial to create an app that consumers can use to order for pick-up/delivery, to check what is on the menu (since some of the options would be seasonal), and what may be the special for the day. 

My Unfair Advantage

• Organizational Skills 
• I have always been a very organized person. I think this is very valuable when owning and running a business. Without organizational skills a company can easily fall apart. Having this skill can help you prioritize what is important and I believe it makes me a naturally good scheduler. It is not something easily copied by others. Many people have to work to have organizational skills which might not come easy to them. There is probably other resources that can provide the same benefits like other people or software, but I believe having this skill as an owner is very beneficial to the business and does not cost me money.  
• Natural Leader 
• I am a take charge person when it comes to getting stuff done. I believe that this is also a very valuable skill to have when it comes to having a business. Not everyone has a leader personality and it is not easy to copy. Like having organizational skills, it is probably easy to find other resources like hiring people who obtain these skills but that would cost more money. 
• Know what it takes to run a company
• I have been running a company for about 5 years now. It isn't my company but i have helped the owner grow it to what it has become today. I help manage 11 employees and about 85 clients. I am in charge of scheduling, payroll, invoicing, and everything in between. I think this is something that is very valuable and rare. It takes time to learn how to do the things I do. My job can not be easily be copied by others. There are other resources that can supply these skills but again, they cost money because they have the knowledge that many people do not not have.  
• Communication Skills 
• Like having organizational skills and being a natural leader, I believe having communication skills is valuable, rare, and inimitable. Other people can provide these skills, but again will cost more money. 
• My Education 
• I think my education adds a lot of value. I am a construction management major. Even though it has nothing to do with food, it has everything to do with learning how to manage other people. I also believe that finishing your college education really proves to you how much dedication you have. It is definitely rare, inimitable, and non-substitutable. 

• My parents 
• My parents are my biggest supporters. They encourage me and help me in every way that they can. It is very important to have people who support and encourage your ideas. They help you believe in yourself and remind you to keep going. That is something very valuable, rare, inimitable, and non-substitutable to have. 
• My boyfriend 
• My boyfriend owns his own company. He knows what it takes to get a company up and running and the hard ships involved. He is also a very big supporter of my dreams. I think it is very important not only to have support, but know someone who you can go to when it comes to dealing with vendors and how to approach a business plan. He is someone who is also rare, inimitable, and non-substitutable to have. 
• My friend Jessica 
• My friend Jessica is a health nut. She loves all things local and fresh. She is also an amazing cook. She can easily open the refrigerator and create an amazing meal with anything there is inside. Every time I try something she makes it blows my mind on how nonchalantly she creates these tasty meals. I think she is very valuable to my team. She can help me create meals that no one would think of.  She is definitely someone who is also rare and inimitable to have. Other cooks can provide the same resources as she can but I feel like we would work better together because we consider each other like family.
• High School Students 
• In my business plan I said I would want to hire 25% of my workers from high school. These students would be interested in or have culinary skills. I think this is a very valuable aspect to my business because not only would they bring a younger crowd into the restaurant, it will also make people feel that they are contributing to their community and these students education. Having these students involved is definitely rare, inimitable and non-subsitutable. 
• Local Vendors 
• Local vendors are a huge aspect to my business. They will be providing 100% of the food for my business. Having hard working, reliable vendors will add a lot of value. I do feel like they are rare to find and are inimitable. However there are other local vendors who can provide the same benefits and resources.

Most important resource: 

I think I have more than one important resource, but I truly believe my education and my parents are the most important. No one can ever take away your education and my parents will always be there to encourage, believe, and love me unconditionally.  

Idea Napkin No. 2

1) You.

This is going to be my last year at UF. I am a construction management major and I am fascinated by how buildings are constructed and the management process. I am a good leader and I thrive on trying to solve problems. I aspirer to own my own businesses. I think I would really very good at owning my own restaurant and developing it into something my community could actually enjoy. I think it would play a huge role in my life as I really enjoy healthy food and the environment. 

2) What are you offering to customers?

My restaurant, Homestyle, would cater to families and individuals who like to eat healthy but are on a tight schedule and/or budget. It will offer fresh, fast, healthy food that is a cost-effective way to eat-out without hurting their bodies. The food will be catered to meet their nutritional needs like those who are gluten-free, dairy-free, vegans, or those who are just trying to live an overall healthy lifestyle. 

3) Who are you offering it to? 

As I said before I think my business would appeal to a mass population, but I do think it would definitely benefit families and individuals that live a very hectic lifestyle and feel like they do not have enough time to cook the type of meals that want to feed their families or themselves. 

4) Why do they care? 

I believe customers would come to my restaurant and buy the products I offer. Like I mentioned in my first napkin idea, in today's world many people live hectic lifestyles. Many families have both parents working full-time jobs and it is hard to find the time to make a healthy, satisfying meal. Individuals who work full-time jobs also find it difficult to find good healthy food options  especially when they want to stay in shape. 

5) What are your core competencies? 

As I said before, I think how I approach my business concept would set me apart. I will still develop contracts with only local farmers and use produce that are only in season. This in-turn will boost the local economy and reduce delivery costs as well as environmental impact associated with delivering and growing produce not from local farmers. The food will also be free of GMOs and preservatives. A huge issue with fresh, local food being used in restaurants is the cost associated with it. The cost is then passed to the customers. Like I previously stated,  I would keep costs low by hiring 25% of employees from local high-schools who are aspiring to go to culinary school and become chefs. I would work with local schools to implement a teaching program. I think this will really help set me apart from other restaurants and put the focus on the local community 

I think these elements of my business concept fit really well together. I am trying to develop a feeling of community by providing the best food for the customers. I did not get much feedback besides that they really enjoyed my idea. I did not really know what I could improve on. I was not really challenged on any part of the business idea. I was however able to re-think my idea in depth. This exercise made me ask my self how I can develop my idea further. I think by adding more environmental friendly aspects to my restaurant will help boost my idea and take it to another level. 

Reading Reflection No. 2

Mindset: The New Psychology of Success 

by Carol Dweck

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

Carol Dweck believes that your mindset is a huge determinate of how one succeeds in life. Throughout the book she discusses the difference between having a fixed mindset versus a growth mindset. She believes having a growth mindset is what will help a person learn, grow, and succeed in life. It will help one accept failure and continue trying to work hard too accomplish his or her goals. According to the author, a fixed mindset will just hinder the person and won't allow him or her to fully become who they are suppose to be. 

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

I think the book helped enhance what I am learning in the class because it helps me understand that taking this class is one step closer to one of my goals in life. No matter how much I do not feel like doing some of the assignments I know I will learn from each and everyone of them and that will help me grow as a person. 

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

My exercise based on this book would be to use the questions the author provided in order to figure out what type of mindset you have. Once you figure out if you have a fixed or growth mindset then you move on to how to change your fixed mindset to a growth mindset or how to continue using your growth mindset and apply it to everyday life. 

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?

Honestly, this whole book surprised me. I did not know I would enjoy reading it so much. I did however have a defining moment. When I read through Chapter 5: "Business: Mindset and Leadership", I realized how important it is to have a growth mindset when it comes to leadership. I hope to have a leadership position when I get into my work field so I found this chapter very helpful. The author mentioned how important it is to ask questions and accept answers from your employees no matter how negative they are. This will help you understand your employees to a greater extent and help them feel appreciated and instrumental in the work place. According to Dweck, a leader should have 3 important aspects. They should be able to listen, develop employee talents, and give credit to where it is due. Those 3 things are very instrumental to make your employees succeed at work. 

My Secret Sauce

1. Describe five ways in which you think you have human capital that is truly unique.

• Independent: I believe I am a very independent person. From a young age I remember my parents making me learn how to do things for myself. When I was in middle school I already knew how to cook certain foods, clean, and do my laundry. My parents have always worked long hours and they wanted to make sure that I was able to figure things out on my own. I believe I am a very independent person and do not rely on people to get things done. 
• Organized: I believe I am a very organized person when it comes to my work. I always keep a notebook of what I have to get done and make sure I check off everything I have to do. 
• Hard Worker: Ever since a young age I remember being very committed when it came to my work. I always make sure I understand what is expected and wanted from me and make sure to achieve those expectations. 
• Caring: I have always been a caring person when it comes to anything in life. Even though I believe it hinders me sometimes, I think that it is a very important trait to have. It helps you understand those already you and walk in their shoes. 
• Leader: I believe I was a natural born leader. My parents are both natural born leaders and I believe I definitely have that trait. I love to take a hold of situations and get a thrill of figuring out difficult problems.

2. Interviews:

• https://soundcloud.com/user-497376341/interview-1/s-rs7AG
• https://soundcloud.com/user-497376341/interview-2/s-WBhQE
• https://soundcloud.com/user-497376341/interview-3/s-RsZoD
• https://soundcloud.com/user-497376341/interview-4/s-9IAEn
• https://soundcloud.com/user-497376341/interview-5/s-IQZvD

3. Reflect on difference. 

• I think most of the people I interviewed mentioned qualities that I believe I have. After hearing from everyone I noticed how many people said how selfless I am. I think it is a good quality about me but sometimes it can hurt me. I sometimes care to much about other people and stop thinking about myself complete. I think I need to learn how to balance this quality. 

My Customer's Avatar

I think my prototypical customers would be families who live very hectic lifestyles. These families would have parents who work really hard and have multiple children. They would not have much time during the week because they are busy with work, after school activities, and homework. They love to live a healthy lifestyle but sometimes it is hard for them to find something that fits their life. I feel like they would drive either a minivan or a SUV. I feel like they would watch any shows that are on Netflix because they are easy to watch whenever they have free time. I do not think they would love any of the nominees that are running for president. They love their country and do not believe money should rule everything. I feel like the parents are within their thirties and their kids are pretty young. Most likely under 10 years old.

I feel like I would have a lot in common with the customer avatar. I feel like we would both have hectic lifestyles but still want the best for our family and be able to provide it to them. I do not think it would be a coincidence because there are some people who do not care and wish to avoid their eating habits especially if they have a very stressful lifestyle. Even though I am sometimes stressed out I feel like I make sure I have time to treat my body good and provide what is best for it.