29: Venture Concept No.2

Opportunity
1)The opportunity that my venture concept possesses is the chance to alleviate stress among students in need of assistance. 
2)This need is essential, as it would be a quality of life change for individuals who are seeking access to information on resources they are able to take advantage of within our community.`

• The forces or changes in the environment creating this opportunity are the burden of having to face the transition into college living alone. Without familial support, this transition into college is stressful and difficult to handle alone. 
• This market is defined geographically and demographically due to the city we live in and the university that exists among this city. Surely, there are many college aged individuals in need of assistance who are of a lower demographic, in otherwords, underrepresented minorities. 
• Customers may or may not be currently satisfying this need. Personally, I am among the students that may need acess to information regarding resources that can help, but I will not help myself. I've formed this venture concept around the sensations of impending doom as I continue to neglect the need for assistance. I cannot speak for all students who may be in a similar situation, but it is tough to be loyal to seeking answers to the hardship one may be facing while attending school full time.
• I believe that this opportunity would be impactful. 
• The “window of opportunity” continually be open until the venture concept is developed and executed. This is an ongoing problem that will persist in the years to come, unless someone does something to change that. 

    Our mission and specific innovationis to lessen poverty within our city and allocating essential resources and supplies to those in need. Moving forward with Changeville of Gainesville would surely improve the quality of life of those in distress regarding their financial situation and will alleviate the burden on those within our demographic. It is believed that with proper assistance, families and students will have the opportunity for growth that they need to be able to sustain themselves. Changeville of Gainesville is of much importance within our city, while many are starting off their careers and educating themselves to be able to flourish in our society. By proviging for those less fortunate, they, too will have a chance to succeed with 

Innovation

My innovation will help ease hardship among college students due to making information regarding resources more easily accessible. This venture concept may not necessarily lead to myself making profit, however, it would help those in need with allocating necessary funds that will help them. I am not selling a product, but offering a service as a non-profit organization. I will be offering my time, but expect nothing but results in return. I want to be dedicated to helping those who are in similar situations as myself.


Venture Concept
 Changeville of Gainesville will be a non-profit organization determined to help those within the underrepresented demographic within our city. Changeville makes it so that information regarding resources that assist low-income families is easily accessible. Often times, one may have to search for resources online, however, this is not accessible by all. By having lists and applications in order to apply for particular resources all in one place, we help those in need by providing information and our assistance on completing forms. In addition to solely having information, Changeville would like to collaborate with food trucks in order to provide direct assistance for those in need. We would like to host fundraisers to obtain necessary household materials for families and students among this demographic. 

• I believe customers or users of this service will make the most out of the opportunity. There is no swiitching of products due to the fact that the services provided are solely information that may help them in their nesar future. 
• There are no competitiors if our mission is to lessen poverty. My venture concept is built around the ideology of helping the community one step at a time. There should not be competition among non-profit organizations if our mission is to help. 
• Packaging and price points are irrelevant to the development of this venture concept. Distribution, customer support and the customer experience are of importance when considering the success of this non profit organization. The location of this non profit organization will surely play a role in defining this business concept. I believe that the clsoer it is to campus, more opportunity will exist, as it would be more easily accessible to students seeking our services.
•  I would organize a support system of individuals who are willing to invest their time into the bettering of others in need. I would need people who are invested in the development and overall success of this non-profit organization. 

The three minor elements

The most important resource will be dedication to the venture concept and its success. I believe that dedication to a cause is all it needs to become a successful organization, however, I may be wrong and too hopeful of the matter. I am not particularly concerned with competitors since I ideally want the iussue at hand dealt with. I do not need to be the one to execute the venture concept. 

Moving forward with my venture concept, I would need to do adequate research to yield the results I want to see with the development of this idea. I do not know how to run a nonprofit, or how to begin one. If I were to find the information I need, this venture concept could become a reality. 

As for what if next for myself, I plan to continue my education here at the University of Florida. Though I may like to further the development of this idea, it will take time and dedication to make it possible. Unfortunately, I am attempting to focus on my education and mental health as of now. I could, however, try to incorporate the development of this idea into the moments of spare time I may have. In five years, I hope to have dedicated the time I need to making this a possibility. As an entrepreneur, I hope to further my skills and be knowledable of aspects I may need to be successful in taking risks. This first venture has helped me broaden my horizons, in the sense that I am constantly thinking of ways to be a helpful citizen among our community.

Summary

The feedback I have received in the past were typically regarding how I would make this venture idea work. In addition to this, some feedback pertained to the real need that may or may not exist with this venture concept. I believe that by gathering information that can be essential to lessening hardship on ones life is useful. In particular, I was told that students may be able to do this on their own if they are truly facing a difficult time, however, what some fail to recognized is the fact that students may have other aspects of their life distracting them from taking advantage of opportunity that will ultimately improve the wuality of their lives. Personally, I know I have not sought assistance and this may be due to trouble with time management, difficulties completing work, as well as discouragement. It can be discouraging to admit that you are in need of assistance and the lvied experience I continue to have can speak for the potential success and impact this venture concept could have on the lives of college students in need. 

My venture coincept has changed quite a lot since its initial planning. Originally, this venture concept was directed toward all minorities and those amonf the lower income demographic that exists within this town. I decided to narrow down my venture concept to a personal level due to experiencing constant stress when it comes down to allocating funds to continue to pay rent, bills, feed myself, etc. It really is hard to do this alone and I think students deserve the opportunity to know of potential resources that may be able to assist them. 

30A: Final Reflection

1) Throughout the duration of course, the moments of drudgery stuck out to me the most. Unfortunately, I dedicated many hours to both my art and work. This made it particularly difficult to keep up with dates I often set aside until the last minute. The fun moments of this course were discussion based assignments that were often introspective and reflective of who we are and how we might conceive ourselves in regards to the rest of the world around us.

2) The most formative experience I have had was completing the assignment "What's Your Secret Sauce?". I feel as though I will continue to hold this assignment close to me due to the responses I received from my closest friends. Listening to their input regarding how they see me as a person and sharing their lived experiences with me made my heart happy. I know for a fact that I will return to this assignment when I am feeling down and need words of encouragement from those clsoe to me. I am proud of this assignment as well due to the amount of effort I put into it. In lieu of submitting a simple document of what was said, I submitted a short film highlighting points of my life with the feedback of my friends in the background. I truly enjoyed this assignment and am thankful to have had the opportunity to create such an uplifting video.

3) I believe that my minndset has been altered in the slightest. After reading entrepreneurial books for assignments, I was able to reflect on what most authors had to say about the power of our mindset. I  believe that I have always had a fixed mindset and did not allow myself the flexibility to change such a mindset. In order to receive results and be successful, whether it is in school or performing miniscule tasks, a change of mindset can alter ones experience and results. I think this form of thinking is essential when it comes down to being an entrepreneur.

4) One reccomendation I would make to students who are going to journey down this path would be to give their assignments more thought than I had. If I truly thought about my venture concept in depth, I may have been able to progress with this idea in the years to come. I still feel my venture concept would have been influential and a success if I were more invested in the developpment of my own idea. Students can and will be able to execute their ideas and make use of the entrepreneurial skills they are learning while working toward their Innovation minor within the Innovation Academy.

                                       

27A: Reading Reflection No.3

Thinking, Fast and Slow, Daniel Kahneman

1) The general theme of the book was providing an explanation of systems of thoughts. In this book, the systems of thought were broken up into different categories. System one is best defined as fast thinking, while system two is referred to as slow thinking. Use of these systems simultaneously are not known to be detrimental, but beneficial as the systems are learning to coexist.

2) "Thinking, Fast and Slow," by Daniel Kahneman connected with what we were taught in ENT3003 due to its references to taking risks and dealing with failure as a result of those risks. When it comes down to taking risks, system one and two handle them differently. System one is known to make extreme predictions, as it is commonly referred to as fast thinking. System two has a tendency to have issues with regression. Failures and risks are prominent aspects in the field of entrepreneurs, as they must make decisions that will either become flourish or become denied. Overall, one must be willing to take risks in order to grow.

3) If I were to design an exercise for this class based on the book I have read for this assignment, I would challenge my peers to make use of system one and system two simultaneously. Using the systems at the same time allow one system to pick up where the other left off if it is too difficult of a task for system one. By incorporating riddles into an exercise, we may be able to exercise both systems at once.

4) My biggest surprise when reading this book was its mentioning of risk and failure in depth. I was not quite expecting the book to reference much material learned through lecture but was glad to have gotten the chance to make a connection between the reading material and what we have learned in this course.

28A: Exit Strategy

1) I intend on allowing the non-profit organization to grow for the next five years, if possible. I intend on staying with this non-profit organization until I have built up a community of individuals who are just as dedicated to the cause and allow them to manage it once it comes time to retire. Ideally, I would like to protect the venture as a family organization, however, if my children are not interested in serving others for bettering their wellbeing, they clearly aren't my children. Overall, keeping such an organization within the family would be ideal but ultimately up to my children on whether or not it is a cause they would like to pursue and be apart of. 2) I have picked this particular exit strategy due to making a decision to make it a mission within my own family to help those in need. Coming from a town overrun by minorities who depended on the assistance of non-profit organizations has instilled a motive to give back to those who were in my shoes many years ago. 3)I believe my exit strategy is influenced by other decisions made within the development of this concept. It has influenced how I have identified an opportunity, as keeping this venture within the family would be an opportunity to give back to those in need. It has influenced my growth intentions and developing this idea has led up to research of non-profits within our area. If I cannot start a nonprofit for this cause, I would still like to give back to the community in a way that is within my grasp. I plan to acquire and use resources efficiently. Acquiring knowledge is not too difficult in this era. Knowledge is within our reach, and maybe even within our pockets. Using resources for this venture concept would consist of acquiring goods for families in need.

26A: Celebrating Failure

1) This past semester, I thought I would be able to handle a course load of one course. I am an Innovation Academy student, therefore I follow a spring-summer schedule in lieu of the typical fall - spring term. I had decided to retake a course I had failed earlier that spring, as I had not given up hope for the major I thought I wanted to pursue.

2) Though I took one course, it was a lot to manage for someone who was unmotivated and struggling emotionally. It was hard to get out of bed every morning, not because my bed was so comfortable that I’d much rather do that, but due to constantly slipping into, out of and through depressive states throughout the years without seeking medical attention. Failure to do so led to my mental illness taking over me, and preventing me from completing the simplest tasks.

3) I do not view failure as negative. It takes time to overcome challenges and facing failure so often has led up to personal growth. I handle failure terribly. If one thing goes wrong, so does everything else. I do not do well emotionally, nor behaviorally but have tried to become more self aware of instances that have a tendency to lead up to failure. This class has changed my perspective on failure due to having to take risks in order to make progress. This is a valuable skill that can be applied to all aspects within one’s life.

25A – What’s Next?

Existing Market 

   In terms of products and services for my venture, I believe that Changeville needs more than just accessibility of information on resources that could improve the quality of life of those in need. After conducting interviews, I have found that individuals would like more direct assistance for their families. Being able to host food drives and potential fundraising for those families in need would make Changeville more focused on helping the demographic directly. With the help of hosting fundraising in order to obtain necessary supplies, Changeville could be an organization focused on making sure each household has the means to sustain itself. By providing toiletries and household supplies, those living in poverty will have access to essential objects needed in their homes.  

New Market

   Though I am currently targeting a specific demographic within society,I would  have to consider an affluent society to contradict my current target. However, Changeville for Gainesville was built on the foundation of helping those in need. Helping an affluent society would not provide much assistance to those who are well off. In lieu of targeting children and families of lesser wealth, I could shift my focus to college students who are lacking in financial assistance and are not dependent on familial support. My venture concept might be able to create value to people within this market because there surely are college students who do not have much and are "scraping by", similarly to myself. By providing additional resources to college students in need, they may be able to make use of all resources available to them which would lead to an improvement of quality of life.
    Upon conducting interviews among the community, I have gotten positive feedback for the venture concept I have in mind. One young woman stated that she is among the demographic I'd like to focus on, and thought the venture concept was worth developing due to the impact it would have among students who are in need including herself. The second person I interviewed was accepting of the concept but thought there would be flaws in making it happen. Though I disagree, I believe it would not be difficult to gather information on resources that could further help the college student population that struggles financially. They suggested collaborating with First-gen, as many students within this community may fall into this demographic I would like to focus on. 

   I believe that this new market would be as attractive as my existing market due to the venture concept being applied. Though I am passionate about my existing market, I do not see why the new market would hinder success of the existing market. Changeville's mission is to help those in need and though their focus may be directed to children and families living in poverty, we would not turn college students away if it would better their quality of life. Changeville for Gainesville is adaptable to its demographic of individuals they attempt to assist. 

24A – Venture Concept No. 1

Putting It All Together

    Changeville of Gainesville is a non-profit organization determined to help those within the underrepresented demographic within our city. Changeville makes it so that information regarding resources that assist low-income families is easily accessible. Often times, one may have to search for resources online, however, this is not accessible by all. By having lists and applications in order to apply for particular resources all in one place, we help those in need by providing information and our assistance on completing forms. In addition to solely having information, Changeville would like to collaborate with food trucks in order to provide direct assistance for those in need. We would like to host fundraisers to obtain necessary household materials for families and students among this demographic. 
    Our mission is to lessen poverty within our city and allocating essential resources and supplies to those in need. Moving forward with Changeville of Gainesville would surely improve the quality of life of those in distress regarding their financial situation and will alleviate the burden on those within our demographic. It is believed that with proper assistance, families and students will have the opportunity for growth that they need to be able to sustain themselves. Changeville of Gainesville is of much importance within our city, while many are starting off their careers and educating themselves to be able to flourish in our society. By proviging for those less fortunate, they, too will have a chance to succeed with ease. 

23A – Changeville's Unfair Advantage

Human Capital

Human Capital is defined as the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country. There is much human capital within the development of Changeville of Gainesville. 

• Experience: Though I may not have experience organizing a non-profit organization, I have lived experience of being among those of a lesser demographic who require assistance. Having experience is non-substitutable.

• Knowledge: I have knowledge of what nonprofit organizations do for people, having been one of those families. Having knowledge is imitable.  

Social CapitalSocial Capital is defined as the networks of relationships among people who live and work in a particular society, enabling that society to function effectively. 

• Networking: As we have learned earlier this year in ENT3003, networking is essential to starting a business or nonprofit organization. By having connections to skilled individuals, one can expand their social capital and their business idea. There would be much value in networking. 

Financial CapitalFinancial Capital is defined as any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services to the sector of the economy upon which their operation is based, i.e. retail, corporate, investment banking, etc. 

• Economic resource: Since Changeville is a nonprofit organization, it is unlikely for this organization to have a definitive financial capital in place. Lack of financial capital in businesses and organizations would be considered rare. 

CapabilitiesEntrepreneurial capabilities are best defined as distinct sets of individual and organizational capabilities and skills as well as actions, practices, and routines that aim to explore, integrate, and exploit business opportunities.

• Capabilities: Our actions to alleviate burden on families in need would involve collaborating with food trucks, fundraising for household necessities and placement of routines in our actions. We can host food drives every other week, provide essential items on a biweekly basis, etc. This would be imitable and could take place among other nonprofit organizations as well. 

Organizational CultureOrganizational culture is defined as the underlying beliefs, assumptions, values and ways of interacting that contribute to the unique social and psychological environment of an organization.

• Beliefs: We believe that everyone has a fighting chance at being able to sustain themselves. By providing assistance at times of need, people will be able to get back on their feet and support themselves in due time. Having beliefs can be viewed as imitable. 

• Assumptions: Changeville assumes that their services are of use within the city of Gainesville. We believe that we can make a change.  Assumptions can be viewed as imitable.

• Values: We value humanity. We value the lives of those who are often underrepresented. We are understanding of struggling and how difficult it can be to put oneself together again. We are here for you and your success is our mission. 

Changeville of Gainesville's top resource would be dedication to its' mission and overall objectives. Dedication goes a long way when one is determined to make change happen. I believe that dedication itself will lead to promising results. Change occurs within our lives inexplicably and often times, these changes are unwarranted. It is rather difficult to keep up with negative changes, but it is easily manageable to introduce changes that will influence our society positively. A little effort goes a long way and simply by being dedicated, the change this city needs among its' people will happen.