Venture Concept No. 2

Opportunity 
The opportunity I am being presented with is the lack of parking infrastructure available to accommodate the exponentially growing segment of college/university attendance. This is a substantial problem for universities across the country which effects millions of students, faculty, alumni, fans, and guests every year. This problem continues to gain steam and urgency as personal vehicle usage continues to increase throughout the United States as the primary method of transportation for individuals. According to the United States Bureau of Transportation Statistics, there are 212 million licensed drivers in the US, with 270 million registered vehicles according to Statista, both of these figures continue to increase steadily annually. Demographically the target market is defined as 18-25 year olds who attend a college/university whereas geographically the opportunity is not bounded but focused on college tows (examples: Gainesville- UF & Tallahassee- FSU). My idea presents those affected with the ability to travel worry free due to the access they will have to view available parking on their smartphone across numerous large parking structures. Currently, my target market is not satisfying their needs, they are adapting their transportation needs to accommodate for the lack of parking available by utilizing public transportation, bikes, and walking. This opportunity presents a massive growth opportunity as it can be implemented at universities across the country with potential to expand into urban centers (examples: New York City, Atlanta, large sporting venues).

Innovation 
My innovation is Parking Pal, a company that will engage in B2B selling of parking infrastructure such as parking garages or parking lots equipped with smart technology. Parking Pal is presenting two components to solve the parking crisis. 1) Parking Pal is going to provide large physical parking structures to accommodate the growing population and traffic at universities. 2) Parking Pal is going to utilize smart technology. This smart technology consists of a sensor at the front of every parking space which will detect if a parking space is available or occupied, along with a light fixture which will hang above every parking space and light up green when the spot is available and red when the spot is occupied. This technology with connect to a mobile application which will simultaneously update with the most current information being recorded from the sensors in the parking structure. This will give consumers the ability to pin point convenient parking wherever their travels take them. The selling of the product will take place in a B2B setting, for example, Parking Pal will advertise and sell our product to an organization such as UF. The first contact would be established through both the president and senate of the student government association and the head of parking services and transportation. By getting in contact with student government this will allow Parking Pal to appeal to the target market through an official channel that has a seat at the table within the university decision circle. By contacting parking services and transportation, Parking Pal would be communicating directly with the department that maintains and operates the parking facilities throughout campus, this would allow us to converse about the issues that currently face the university along with providing solutions. This sale could take place in two separate ways, 1) the organization could pay Parking Pal to build parking structures equipped with the smart technology. This would allow an organization such as UF to upgrade their current infrastructure which would increase campus appeal, ease of navigation, and decrease in traffic, all resulting in the increased satisfaction of students, faculty, and visitors such as alumni or gameday fans. 2) The organization could purchase the technology which Parking Pal would install into already existing infrastructure. This option would benefit organizations that already have suitable and efficient parking infrastructure, but want to further upgrade, providing their customers, such as students, faculty, and guests an increased ease of access and transportation. The mobile application will be available to everyone on numerous stores including the app store and google play.

Venture Concept 
My innovation will solve the needs of consumers by giving them the freedom and ability to pin point parking within their destination before departing. This provides consumers with increased, accurate, and regularly updated information pertaining to the parking availability providing them with peace of mind and ease of access. Customers will buy into my innovation because it provides a substantial benefit to their customers. For example, University of Florida purchases Parking Pal's products, this will increase their revenues and customers satisfaction. Additional revenue will be generated through the extra parking spaces available allowing university's to issue more parking passes and at a higher price due to the upgrade in facilities, access, and convenience. With upgraded facilities and more accommodations available, more people will be able to park on campus. The additional parking infrastructure would also increase the availability of one day parking passes that could be purchased by fans, alumni, and daily visitors. Customer satisfaction would also increase because Parking Pal provides a more convenient way to travel, giving customers the freedom to travel on their own time without hassle. This will increase positive perception of the UF campus which will increase overall university satisfaction drawing more students to apply and attend, also generating more revenue. At this point I have not identified national scale competitors, I will have to conduct further research as the company advances and grows. Depending on the choice in which the customer chooses to utilize Parking Pal, the cost will range between a few hundred thousand dollars and a few million dollars. The biggest aspect of my business idea would be location. My business concept is targeted at high traffic, urban areas such as large cities and college towns. To further expand and advance the organization forward I am going to need a highly skilled, dedicated workforce including software engineers, construction managers, construction engineers, civil engineers, and highly skilled technical workers to develop and implement the product.

Three Minor Elements
I believe at this moment my most valuable resource would be me being a college student. I am constantly surrounded by very intelligent, determined, and enthusiastic individuals that I could form a relationship with to move my agenda forward. Me being a business major, I am learning the necessary and critical skills needed to understand how businesses operate and achieve success. I am also very highly motivated and eager to learn giving me an advantage over many people. My current strategy is to target college towns with the desire to expand to urban centers. My desire as an entrepreneur is create a product that benefits consumers but also a product that I am proud of. In 5 years I wish to be successful and profitable with eyes on the future to innovate.

Feedback 
I received very limited feedback from my peers. The feedback I did receive was not based on what I should improve, rather it was directed the benefits that would be provided and how she would utilize and appreciate the product. I also received feedback from Professor Pryor stating I had to go more in depth on my concept because I left out key elements from my previous venture concept including a price point, who I am going to contact to make the sale, and how I will increase revenues for those I sell to. Based on this feedback I adjusted my concept to incorporate all of these elements. I incorporated a rough estimate of the price that would be charged to the organization, this price point is variable and would be adjusted based on the quantity of purchase. I also stated I would contact both the student government association and the parking services and transportation department to give me two channels of communication along with two separate channels of authority. Lastly, I stated I would increase revenues for the organization through providing expanded and upgraded infrastructure allowing the organization to issue more parking passes at a higher price due to the increase in accessibility, convenience, and upgraded facilities. 



 

Final Reflection

During my time in ENT3003, I think my most formative experience was just being able to take a course that was 100% dedicated to self development and growth. Most classes follow a traditional approach such as utilizing a textbook, busy work, and lectures. This course fostered in depth thinking and learning, allowing me to see the world and problems differently. The experience I will remember for years was the story Professor Pryor told us in class regarding his college days when he decided to plant grass in the OU oval to act as free advertising, this was the moment when I truly started to believe everything he was teaching us about not needing large sums of money or elaborate plans, all we needed was creativity and determination. I am most proud of myself for making it through this class without taking it for granted or blowing it off like I was told a lot of people do. I think Pryor did a very good job at telling us students we can do whatever we want to do as long as we put the idea into action and I am proud of myself for listening to that and putting a lot of effort and thought into my assignments.

I do see myself as an entrepreneur. Since late high school I have been set on the idea of me being my own boss one day and doing something I love where my contributions aren't for a large corporation but for something I built. I think this class has helped shift my mindset from believing you needed to have large sums of capital and connections to be a successful entrepreneur to now believing all I need is a feasible unique idea and the determination and confidence to approach it and not to quit because failure is apart of the process.

I would encourage students to take this class even if they think they have no interest in the topic. This class does not only touch on points of entrepreneurship, but it teaches you to think outside of the box and see the world as a place with endless opportunities waiting to be taken advantage of. To perform best in this course I would recommend being committed and not taking the assignments for granted. Not all of the work is easy or exciting but it helps in understanding the process and learning how to adapt your mindset to seek out opportunities. To foster this mindset, I say pay attention to Pryor and ask questions because you don't know what your don't know.  

Reading Reflection #3

1) The thing that surprised me most about from the book Shoe Dog is that Phil Knight, the creator of Nike created an entire industry in sportswear and specialized athletic products. Before Nike their was no such distinction between basketball shoes and running shoes and so on, their was a couple of different "athletic" shoes that were multipurpose products serving all athletic needs without any specialized adaptations or features. The thing I admire most is the same thing that surprised me most, Phil Knight created an entire industry and did so from nothing, he followed his dream and was fueled by his passion for sports and athletic wear which he eventually turned into everyday wear. Knight did fail along the way. He faced financial trouble along with marketing troubles which he eventually overcame by keeping persistent, passionate, and goal driven.

2) I observe Phil Knight to be a master marketer. He created an entire industry in specialty sportswear which is currently and by far the largest sportswear company and brand in the world with over 34 Billion in revenue. He took this specialty sportswear company and turned it into a cool everyday lifestyle brand which continues to pioneer sportswear technology along with brand recognition as they attach their name to some of the worlds biggest athletes in Michael Jordan, Lebron James, and Cristiano Ronaldo.

3) None of the reading was confusing to me. Phil Knight is a masterful storyteller who has a phenomenal and very unique story to tell. I was compelled to read this book as Nike is one of my favorite brands in the world.

4) I would ask him 1. How were you able to create one of the most recognizable and valuable brands in the world from an industry that didn't even exist? and 2. What was your favorite part of the journey, at what moment did you realize you truly created something special? I would ask these questions because I believe Nike is a truly unique brand and I want to know when he thought the same.

5) I think Phil Knight's opinion of hard work is fighting through adversity while also believing in both yourself and the idea/product you are creating because without that you have already failed.

Exit Strategy

1) My exit strategy is to sell my venture Parking Pal for a large return whenever that opportunity presents itself. I am very young and wish to explore other opportunities within life and my career.

2) I have selected this exit strategy because my goal as an entrepreneur is to create wealth for myself creating more opportunity and quality of life for me, my family, and my friends. With the profit I would earn from selling Parking Pal, I wish to invest this money into my already existing investment portfolio along with exploring other opportunities such as creating a new startup or investing in an existing startup I am passionate about to gain influence in the company and it's overall end goal.

3) This decision has somewhat influenced my decisions thus far but not drastically. For example, the decision to expand beyond Florida and beyond college towns/university campuses is attributed to growing a strong brand and strong market share that would make my company for attractive to a potential buyer that would be gaining a national brand. Other than that, my decisions have been derived from my pure passion to have a successful startup. I believe you cannot reach your end goal (in this case my exit plan), without planning and executing in the present so that's what I am going to do.

Celebrating Failure

1) A time I failed during this semester was the first exam I took in MAN3025. I studied very hard but did not study properly. I put a lot of time in effort into studying for an exam I thought I was going to do well on but I got a 70 and realized I was not studying properly even though I was studying hard.

2) What I learned what this experience was to buy Smokin' Notes. With a hectic schedule that offers very little downtime, I learned that instead of taking the time to create my own study guides and file through an entire tests worth of material to study such as homework's, lectures, and the text, I could just buy the this supplement that puts it all in one place for me and is way for detailed than I was.

3) Failure is very hard. You never want to receive unfavorable results for something you put a lot of time and effort into in hopes of achieving success. When dealing with failure I find myself to get down on the initial results, but after reflection and thought I find myself no longer reminiscing on the previous results but preparing myself to achieve success next time around by trying to methods and putting in more time and effort to ensure an increase in performance from previous results. This class has solidified to me that most people fail and most ideas fail but it is crucial to reaching success. If you don't fail it means you didn't try hard enough. Companies fail thousands of times before they create a hit product, this has increased my willingness to take risk because I am not as scared to fail as I was before this class.

What's Next?

Existing Market Up next for Parking Pal I intend to gather extensive feedback from customers to improve current products and expand to new ones. While conducting previous interviews, I was not given any feedback or suggestions regarding improvements or expansions of Parking Pal. I was given extensive feedback on the urgent solution to the current parking crisis, from this I was told Parking Pal is a very attractive solution in which my target audience believes would be successful. For Parking Pal to grow in the current market we have to expand to beyond Florida and serve colleges throughout the country. With the expansion beyond Florida, this allows us to access an enormous customer base along with building relationships on a national scale to grow the value and brand of Parking Pal.

New Market 
A change parking pal could make is transitioning from exclusive operation in college towns and university campuses with expansion into major urban centers. Serving urban centers would introduce an entirely new audience which would exponentially grow the current target audience. Urban centers such as New York City or Atlanta offer access that college towns and university's cannot. Urban centers are home to much more industry which accumulates an enormous traffic increase. With this expansion, Parking Pal will have access to high traffic sporting venues, tourism, and everyday business commuting. Due to the increased traffic and increased demand because of the substantially larger populations, revenue will increase because the price point will be higher. With the ability to charge a one time parking fee to utilize the parking structure, the turnover rate per parking space will increase which will increase the overall profitability of each individual spot has more vehicles come and go. I think this new market could be more successful than college towns but it will be more challenging and less cost effective to implement due to higher property and maintenance costs.

Venture Concept No. 1

Opportunity
The opportunity I am being presented with is the lack of parking infrastructure available to accommodate the exponentially growing segment of college/university attendance. This is a substantial problem for universities across the country which effects millions of students, faculty, alumni, fans, and guests every year. This problem continues to gain steam and urgency as personal vehicle usage continues to increase throughout the United States as the primary method of transportation for individuals. According to the United States Bureau of Transportation Statistics, there are 212 million licensed drivers in the US, with 270 million registered vehicles according to Statista, both of these figures increase steadily annually. Demographically the target market is defined as 18-25 year olds who attend a college/university whereas geographically the opportunity is not bounded but focused on college tows (examples: Gainesville & Tallahassee). My idea presents those affected with the ability to travel worry free due the access they will have to view available parking on their smartphone across numerous large parking structures. Currently, my target market is not satisfying their needs, they are adapting their transportation needs to accommodate for the lack of parking available by utilizing public transportation, bikes, and walking, none of which are ideal in a Florida summer. This opportunity presents a massive growth opportunity as it can be implemented at universities across the country with potential to expand into urban centers (examples: New York City & Atlanta).

Innovation 
My innovation is Parking Pal, a company that will engage in B2B selling of parking infrastructure such as parking garages or parking lots equipped with smart technology. Parking Pal is presenting two components to solve the parking crisis. 1) Parking Pal is going to provide large physical parking structures to accommodate the growing population and traffic at universities. 2) Parking Pal is going to provide smart technology. This smart technology consists of a sensor at the front of every parking space which will detect if a parking space is available of occupied, along with a light fixture which will hang above every parking space and light up green when the spot is available and red when the spot is occupied. This technology with connect to  mobile application which will simultaneously update with the most current information being recorded from the sensors in the parking structure. This will give consumers the ability to pin point convenient parking wherever their travels take them. The selling of the product will take place in a B2B setting, for example, Parking Pal will advertise and sell our product to an organization such as UF. This sale could take place in two separate ways, 1) the organization could pay Parking Pal to build parking structures equipped with the smart technology. This would allow an organization such as UF to upgrade their current infrastructure which would increase campus appeal, ease of navigation, and decrease in traffic, all resulting in the increased satisfaction of students, faculty, and visitors such as alumni or gameday fans. 2) The organization could purchase the technology which Parking Pal would install into already existing infrastructure. This option would benefit organizations that already have suitable and efficient parking infrastructure, but want to further upgrade, providing their customers, such as students, faculty, and guests an increased ease of access and transportation. The mobile application will be available to everyone on numerous stores including the app store and google play.

Venture Concept 
My innovation will solve the needs of consumers by giving them the freedom and ability to pin point parking within their destination before departing. This provides consumers with increased, accurate, and regularly updated information pertaining to the parking availability providing them with peace of mind and ease of access. Customers will buy into my innovation because it provides a substantial benefit to their customers. For example, University of Florida purchases Parking Pal's products, this will increase their revenues and customers satisfaction. With upgraded facilities and more accommodations available, more people will be able to park on campus. This will generate increased revenue through the increased issuance of parking passes to students and faculty, along with the increased purchases of one day parking passes that get purchased by visitors, alumni, and fans. This also increases customer satisfaction because it provides a more convenient way to travel, giving customers the freedom to travel on their own time without hassle. This will increase positive perception of the UF campus which will increase overall university satisfaction drawing more students to apply and attend, generating more revenue. At this point I have not identified national scale competitors, I will have to conduct further research as the company advances and grows. The biggest aspect of my business idea would be location. My business concept is targeted at high traffic, urban areas such as large cities and college towns. To further expand and advance the organization forward I am going to need a highly skilled, dedicated workforce including software engineers, construction managers, construction engineers, civil engineers, and highly skilled technical workers to develop and implement the product.


Three Minor Elements
I believe at this moment my most valuable resource would be me being a college student. I am constantly surrounded by very intelligent, determined, and enthusiastic individuals that I could form a relationship with to move my agenda forward. Me being a business major, I am learning the necessary and critical skills needed to understand how businesses operate and achieve success. I am also very highly motivated and eager to learn giving me an advantage over many people. My current strategy is to target college towns with the desire to expand to urban centers. My desire as an entrepreneur is create a product that benefits consumers but also a product that I am proud of. In 5 years I wish to be successful and profitable with eyes on the future to innovate. 

Your Venture's Unfair Advantage

1. Location: 
Valuable- I go to school and live in Gainesville to attend UF which gives me access to an abundance of college students (my target audience). I also live in Orlando, Florida as my primary residence which gives me direct access to Universal and Disney theme parks for expansion.
Rare- This is rare because out of the 7.8 billion people that live on Earth, roughly 400,000 people live in Orlando and Gainesville combined.
Inimitable- Yes this is inimitable, although it is not the easiest thing to imitate, anybody has access and the freedom to relocate to Gainesville or Orlando.
Non-Sustainable- This is sustainable because I can live in these cities as long as I want, although other cities can provide similar benefits.

2. Enthusiasm to learn: 
Valuable- This is valuable because somebody who is enthusiastic about learning and gaining new knowledge will prosper.
Rare- This can be seen as rare because there is not a huge population of people who are enthusiastic and willing to challenge themselves and further there knowledge.
Inimitable- This is inimitable but not very easily. People who do not already possess this trait need to dedicate time and effort to develop it.
Non-Sustainable- This is sustainable because I will continue to maintain my eagerness to further my knowledge.

3. Useful Network: 
Valuable- This is valuable because in any business knowing the right people is a part of being successful
Rare- Have a consistent, accessible, and effective network is something that takes time and effort to build and not everybody can do it
Inimitable- Yes, anybody could create a network for themselves
Non-Sustainable- Having a network is somewhat unsustainable because as people grow and advance through life and their careers they lose touch with people.

4. Persistence: 
Valuable- This is very valuable because I do not give up when things get tough or come to dead end, I am eager to solve problems.
Rare- I think persistence is becoming more rare. The up and coming generations from my observations tend to give up on things easier due to the increasing use of technology solving our problems.
Inimitable- Yes, anybody can learn to be persistent if they put the effort in.
Non-Sustainable- This is sustainable because although other firms and other individuals can be persistent, that doesn't take away from me being persistent.

5. Investment Experience: 
Valuable- Having over 3 years experience in personal investments I have developed a growing knowledge of market behavior and financial management.
Rare- No, many people have personal investment portfolios.
Inimitable- Yes, everybody has access to investing in the stock market
Non-Sustainable- This is non-sustainable because there will always be some individual or some firm out there that has more experience and more knowledge than me in the stock market.

6. Dependable:
Valuable- Being dependable is very valuable because I will always put my best effort into getting my assigned task completed properly and on time, I can be counted on.
Rare- Many people are dependable but I feel in today's modern business world people are becoming less dependable due to the increasing demand for work life balance making many employees fully distant from their company responsibilities as soon as they leaving the office.
Inimitable- Yes, anybody can train themselves to be dependable.
Non-Sustainable- This is sustainable because I will always possess this trait if I continue to work at it. 

7. Good Work Ethic: 
Valuable- This is valuable because I believe everything worth having or celebrating has to be worked for and I don't stop until my goal is achieved.
Rare- This is not rare but a very good trait to possess.
Inimitable- Everybody has their own work ethic and their own style that can not be easily mirrored.
Non-Sustainable- Some people will always have a stronger more robust work ethic than me, but that takes nothing away from me being effective.

8. Conversationalist: 
Valuable: Yes, I have the ability to talk to people in a respectful and inviting manner. This eliminates customers and colleagues feeling like they are pawns to the business.
Rare- Yes, many people have a hard time talking to others and forming a connecting.
Inimitable- It is a hard task to become a conversationalist because it is a hard skill to master.
Non-Sustainable- Others may be better and may offer more but still this does not make me appear weaker or less engaged.

9. Customer Service: 
Valuable: Yes, putting the customer first and understanding their needs and how to solve them is something every business should possess.
Rare- This is becoming increasingly rare as the companies have shifted and continue to shift to automated customer service.
Inimitable- It is very hard to match a company that puts heavy emphasis on the treatment of their customers.
Non-Sustainable- Other companies have excellent customer service, but that does not block me from also offering outstanding service.

10. Big Picture Orientated: 
Valuable- This is valuable because I am able to see past the small day to day challenges that a company will face and keep my focus and energy on achieving a bigger goal.
Rare- This is becoming increasingly rare, especially in the American business environment that is infamously known for reactive change and short term fixes for long term challenges.
Inimitable- It is impossible to mimic the perception of another individual, making it much more difficult to match their exact process and actions.
Non-Sustainable- There are many people who utilize a big picture orientation, but with the market shifting to short term fixes I can thrive.

Top Resource: Enthusiasm to learn. I see this as my top resource because it is intangible and unique to me. Being enthusiastic to learn will suit me well in my career as I am always eager to accumulate a wider range of knowledge. This resource has enabled me to take on challenges presented to me without hesitation and without deterrence as I am always striving to grow my human capital.

Elevator Pitch No. 3

1. I did not receive any feedback on my previous elevator pitch.
2. I did not receive any feedback on my previous elevator pitch so it did not play a role in the tweaking of this elevator pitch. I reviewed my previous elevator pitches to identify weaknesses and improve on them in this pitch. In this pitch I decided to pitch how the technology would work and a broader range of markets I intend to target.

Reading Reflection No. 2

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

• The general theme of the book The Art of Social Media: Power Tips for Power Users by Guy Kawasaki is to treat social media as promotional tool to further enhance your personal value and grow your social capital through the modern medium.
  

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

•  This book did a good job at connecting to the social capital aspect of ENT 3003. The book is extremely valuable in presenting tips on how to make use of social media to better enhance your personal network while getting your name out to the world. Social media can be used as a free tool for further expanding your digital presence in a digital world.

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

• In designing an exercise for the class based on the book I would choose for students to create or utilize a current social media platform they already operate and present their business idea. Through presenting their business idea through their social media platform students will be able to build a digital presence in which they can further expand their network while creating an extra channel of promotion.
  

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 to me was how the book expressed that social media is for everyone not just professionals who are experts in digital promotion. Social media presence can be grown and strengthened by purely being an active user who is willing to learn and adapt to the current environment. Anybody can be successful on social media in growing their social capital, no special talents or tricks are needed. 

Growing Your Social Capital

New Scooters 4 Less: Founder 

• This individual effectively fills the spot of 'Important supplier' to my industry. He fills this spot because he has been serving the Gainesville college community through his scooter shop, New Scooters 4 Less for over a decade. 
• I found him through the interview Dr. Pryor conducted with him that was showed in class. I contacted him through his Snapchat which I found on the NS4L website, from here he then agreed to provide me feedback and provided me with his email 
• Heprovided me with the favor of dedicating his time to analyzing my business idea and provided me with feedback regarding the advantages and disadvantages of the idea. 
• Including this expert in my network will enhance my ability to exploit this opportunity because he attended UF and continued to reside in Gainesville as he founded NS4L which has served Gainesville and their students for over a decade.
  

University of Central Florida: Computer Science student & Software developer 

• This individual fills the spot of 'Domain expert' to my industry. He effectively fills this spot because he is a computer science major who has also created and sold mobile applications.
• I have known him since high school and throughout college. I contacted him through text message.
• He provided me with the favor of educating me on the technology and resources that would be needed to achieve this business idea 
• He can help me exploit this opportunity because he knows the ins and outs of creating a mobile application while also knowing the difficulty that comes with selling it.

The Walt Disney Company: Disney Parks Live Entertainment Manager

• This individual fills the spot of 'Expert in my market'. She effectively fills this spot with her 10+ years of experience at The Walt Disney Company where she has managed events and logistics regarding parking and transportation within Disney Parks.
• I was able to contact this person through text message as she is the mother of one of my good friends. 
• She provided me with the favor of explaining to me how the current Disney parking systems work and how each system has to be developed according to the unique characteristics of each location (Resort, park, geographic layout, etc.) 
• Including her in my network will enhance my ability to exploit this opportunity due to her extended experience and expertise with transportation and event logistics.

Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

• I am a second year Business Administration major at the University of Florida. Before enrolling in the BA program at UF, I completed my Associates of Arts degree at UCF. I have personal experience with both of these university's parking situations due to having attended both. My talents include being an effective communicator, adaptable learner, and collaborator. My goal for this company is to modernize parking infrastructure across college campuses throughout the state of Florida. Depending on current market conditions I would 1) want to expand beyond Florida and beyond college campuses OR 2) I would like my company to be acquired.

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).

• I would be offering customers ample and convenient parking. The product is comprised of two separate, but linked components. Physical parking structures will be built and or renovated with smart technology. The structure itself provides access to more available and accessible parking. The smart technology within the physical structure will include sensors that detect if a parking space is available or occupied along with visible markers that will hang above each spot showing a green light when the spot is empty and a red light when the spot is taken. The smart technology will also track available and unavailable parking spots throughout the campus garages which customers will be able to see updated simultaneously on their smartphones. 

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psycho-graphic characteristics of your customers. Think especially of this question: what do your customers all have in common?

• Plans as of now are to offer the parking structures/smart technology to university's across Florida. The app will be available to anybody who can utilize it to aid in their transportation need. All of my customers have the same thing in common, they all have the same problem being poor access to available and convenient parking. I will bring attention to the issue by getting in contact with heads of each university's student government association. This allows me to present the problem to those who share it with me. SGA possesses a yearly budget which would aid in getting the university to buy the parking structures or technology. 

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.

• The direct customers for this product are university's which do not have efficient or effective parking infrastructure to accommodate the exponentially growing population of students enrolling in Florida university's. These university's care because they would be investing in the improvement of student, staff, and campus visitors experience. With the expansion of parking infrastructure, campus's across the state will operate more efficiently and effectively. For example, UCF's football stadium accommodates 46,000 people, their parking garages are comprised of 8,597 parking spaces. These parking garages are not exclusively held for sporting events meaning there is not 8,597 available spots for football spectators to park. With the expansion of infrastructure and the ability to track availability on a smartphone will allow large events to operate with reduced traffic due to the campus visitors knowing when and where the parking spaces are full or available. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?

•  I currently do not have any legal protection over my proposed solution. The thing that makes me different is that nobody is doing this as of now that I am aware of, this meaning no college campuses I observed are currently utilizing this technology. The technology would be expensive making organizations hesitant to make the investment. The feedback I have gotten from students throughout the state of Florida is overwhelming, stating the technology would improve the lifestyle of a bustling college town.

Reflection
I believe every element fits together. The weakest aspect of my idea would be #5, being I am still determining what makes my business idea unique as I continue to survey the market. Element five may be the toughest and most critical element to satisfy. Without having an element five, you cannot have the preceding four elements. When creating a business you need to be unique to stand out to investors and customers, I believe once I get a firm grip on element five my business idea can encompass all five elements to become successful.

Feedback
I did not receive much feedback on my previous idea napkin. The feedback I did receive was focused on expansion beyond college campuses. This technology can be a critical element of innovation going forward as it can be applied to major urban areas and cities that notoriously lack convenient parking infrastructure. Cities continue to build up and not out allowing me the opportunity to capitalize on the ever growing need for parking access in busy urban centers throughout the nation such as New York and Chicago.

Elevator pitch #2

 

Link: https://youtu.be/Je1tJBhdpTE

I did not receive any feedback on my previous elevator pitch. I analyzed my own performance and identified strengths and weakness. Some of mys strengths were consistent in delivery. I found my first pitch to be delivered in a very organized and clear manner allowing for the audience to be engaged and follow along. I also noticed two weakness. The first weakness being I was nervous causing me to 1) stumble of my words and 2) Using my screen as an aid to guide my pitch. I learned from these weakness by approaching this pitch in a calm, confident manner. I delivered this pitch by doing some preliminary research on transportation statistics to make myself more comfortable with the subject which enabled me to deliver this message in a more clear, less scripted manner.

Customer Avatar

My customers are predominantly college students from across the state of Florida (could expand beyond college campuses). My customer base is very diverse being from different countries, states, and ethnicity's. My customer base is large as I look to serve all college students within the state of Florida. Students in my market are those who own a personal vehicle such as a automobile, motorcycle, or scooter. The demographic of my market is young, being between the ages of 18 and 25. Because of the young demographic, these customers are familiar with technology and are open to change and innovation. My customers tend to drive practical cars of not much extravagance or luxury. The majority of my customers do not have children allowing them to make decisions more freely.

I have a lot in common with the customer avatar being that I am a current college student. I drive a practical compact car like many others (Ford focus, Honda Civic, Toyota Corolla). I don't believe my commonalities with my market is a coincidence. Entrepreneurship is solving the needs to a customers problem, I was able to identify a problem I have in my life and project that to others that share the same problem.

What's Your Secret Sauce?

Five unique human capital traits:  

1.  Thought provoking: I believe one of my strongest human capital traits is my sheer ability to think. I am in constant observation of my surroundings in which I am constantly thinking of how things around me function and how those operations can become better. I am also thinking of the deeper meaning to things, for example, when I see an event such as a UF football my mind naturally starts to think of every moving part that makes the event possible and how those moving parts can be improved to enhance the bigger picture. 
2. Determined: I am a very driven person who is determined to achieve goals. I put maximum effort into everything I pursue both individually and in a team environment. Me being determined at achieving goals is the reason I am a Gator. I applied to UF out of high school and got denied admission, I told myself I was going to graduate a Gator and the school I attended out of high school would serve as a temporary home, I excelled at my previous institution which allowed me to successfully transfer into UF and achieve my goal. 
3. Results-Oriented: I believe being a results-oriented person has allowed me to thrive in everything I do. This is most evident in my academic success that has been achieved through me beginning everything I do with an end goal in mind. This will allow me to be successful in my future academic and professional career as I will always have something to work toward that will drive me to achieve success. 
4. Humorous/personable: I have a very easy person to get along with and work with. I try to bring some sort of humor to everything I do in attempt to remind myself that even through adversity and hardship there is room to be light hearted and relaxed when necessary. 
5. Reliability: I am a very reliable person. I am very self accountable. If I commit to something I make it a priority to make sure I fulfill that commitment. This is a very valuable trait to have because I will always make sure to get my work done without excuses.

Interview #1: This interview was conducted with my dad. My dad has been with me my entire life so he has a good idea of who I am and what I am good at. My key takeaway from this interview is that from someone who knows me best I am seen as being someone who is able to think outside of the box and formulate ideas even if they aren't requested as solutions. 

 https://soundcloud.com/user18911479/interview-1/s-WpPXb

Interview #2: This interview was conducted with one of my closest friends. The main takeaway from this interview was that someone really close to me identifies the same strength I identify in myself as being a determined individual.

https://soundcloud.com/user18911479/interview-2/s-fO91h

Interview #3: This interview was conducted with one of my best friends and roommate. This interview made the recurring theme evident to me. The recurring theme in this interview links to my ability to be thought provoking.


https://soundcloud.com/user18911479/interview-3/s-dnuWJ

Interview #4: This interview was conducted with another close friend and roommate of mine. This interview had consistency in relation to interview #2 and my own identification of my determination factor.


https://soundcloud.com/user18911479/interview-4/s-DIksB

Interview #5: This interview was conducted with my best friend. This interview was consistent with others but slightly varied. Emily was the only one to mention my maturity which really stood out because being mature is a great quality to have and is attractive in a professional and personal setting.

https://soundcloud.com/user18911479/interview-5/s-JjFkw



Summary 
Overall I believe the interviews were very informative. All of the interviews I conducted had some consistencies with the traits I listed for myself. I think the most consistent trait acknowledged would be my determination. This consensus did not surprise me as I believe it to be one of my most projected traits that is noticeable to those who interact with me on a daily basis. The biggest thing that caught my attention from this interview process was my interview with my dad. This interview was eye opening because he mentioned a story about me brainstorming ideas based on my surroundings and always thinking big picture, this was interesting to hear because I am aware that I do this constantly but was not aware that people around me acknowledged it. Perception of self is always going to vary from perception of others, because of this I believe the differences are present because others can only perceive what they see or hear you do, meanwhile you are with yourself 24/7.

Figuring Out Buyer Behavior No. 2

I interviewed three students enrolled in two different universities within the state of Florida. My questions for these interviews were targeted at the alternative evaluations that take place during the decision process, what leads them to their decision, and how they reflect upon that decision.

Interviewees
-UCF: Male 20
-UCF: Female 21
-FSU: Female 20 

Alternative Evaluation 
To begin my interview process I presented the alternate methods of transportation to and from campus, including bus, car, walk, bike, and scooter. All three people I interviewed currently have parking passes that give them access to select parking throughout campus. The parking passes were purchased from two different universities within the state of Florida, all three interviewees stated they bought their parking passes online from the university parking services website and they were able to pick them up in person at a location on campus. One of the interviewees attends a university that provides free parking passes to students, because of this price did not effect the decision of purchase. The other two interviewees attend the same university that charges over $100 for a yearly parking pass. High prices played a substantial role in the purchase decision process. One interviewee stated at first he chose not to utilize a parking pass because a pass is expensive and costs more than the average amount he get fined per semester in parking citations. The other interviewee states price was considered but wasn't a deciding factor because she enjoys the access to campus for resources such as the library and recreation center. I lastly asked the interviewees if they were satisfied with their purchase. All three of the interviewees stated they were satisfied with their purchases because 1) it did not cost anything, 2) enjoys the access it provides to campus, and 3) enjoys being able to park throughout campus without having to worry about getting a citation from university parking services for parking without a decal.

How/Where to Buy? 
I asked one simple question to all interviewees, "did you think it was simple and easy to purchase your current parking pass online?". The reason I asked this question is because all of the interviewees have already stated to me that they purchase their parking pass online, so buy asking this question I get a clear answer to whether or not they approved of the current delivery method. All interviewees stated they approve of the current purchasing method because it is easy and allows them to buy it on their on time without having to be somewhere to physically purchase it.

Post Purchase Evaluation 
In able to understand what constitutes a good decision from a bad decision I had to ask the question, "after you make a purchase, what to you determines if it was a good purchase or a bad one?". I was curious to see if their reasoning behind what constitutes good vs bad purchases aligned with mine. One of the interviewees said for her, a good purchase in the particular case of the parking pass is established when I am able to utilize the pass to park on campus when I need to for things such as class and on campus sporting events, meanwhile in relation to the parking pass it can be classified as a bad purchase in times when parking is unavailable while you need it most for example to commute to class. A separate interviewee stated the parking pass can be seen as a good purchase solely based on the fact that it gives them the ability to access parking on campus which they otherwise wouldn't have, this particular interviewee said he doesn't see the parking pass as a bad decision but can sometimes be a frustrating one due to lack of parking available at times. The third and final interviewee aligned similarly with interviewee number two. In this interview I was told that the parking pass decision is a good one because it gives her access to the facilities she wants to utilize including the library and recreation center which she wouldn't have access to otherwise.

Conclusion 
Throughout this interview process I found a lot of commonalities in the interviewees responses. One of the major takeaways from the interviews with the UCF students is they look favorably upon the parking passes they are able to purchase, but are dissatisfied with the abundance of parking they are provided with on a consistent basis for the money it costs them. The parking passes are very useful and are often times needed in order to fully utilize the resources campus offers that off campus students have to commute to in order to access. The FSU student had different circumstances. Parking passes at FSU are free of cost to students, because of this students are less likely to recognize and or complain of the situation because they are not paying to park their cars. This interviewee stated the parking passes at FSU are very favorable because they are free of cost but can often times be useless due to heavy traffic and unavailability of parking. Overall, I believe the responses provided have aided in my ability to recognize the strengths and weaknesses of current university parking systems throughout state which will help in the future as I focus my energy on improving the existing weaknesses.







 

Reading Reflection #1

For this assignment I read Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance. The thing that surprised me the most about Musk is how the success we see in him today (Tesla, SpaceX, and SolarCity) is accredited to his past achievements such as PayPal and Zip2 which collectively sold for more than $1.5B. The thing I admire most about Elon Musk is how SpaceX and Tesla are both companies that are attempting to push the limits of mankind through technological innovation. Elon faced adversity when he was 17, he was requested to serve in the South African, he fled to Canada to avoid being apart of the regime. The biggest competency I see in Elon is his ability to think big and fight through adversity. The reading was not confusing. Two questions I would ask Elon include 1) How have you managed to become one of the most forward thinking people in the world? and 2) Is your work done more for self-fulfillment or for the advancement of mankind?. I would ask these questions to gauge a better understanding of how the mind of one of the most successful people in the world perceives the world. I think Elon's opinion of hard work is that there is always more work, better work to be done. No matter the success or failure there is always more that can be done to advance our society forward. I do share this opinion because I believe no matter the goals we set, every goal has the opportunity to change the course of our society.

Halfway Reflection

1) I have developed better time management skills and critical thinking skills that have enabled me to be successful in this course thus far.

2) I have never felt like giving up in this class, I have felt stumped though. The first time I felt stumped was when I was attempting to complete my first idea napkin. This assignment is intended to be a preliminary workup of your idea and how that idea is going to satisfy the needs of customers. The underlying objective I was able to depict from this assignment was the testing of ones ability and willingness to critique their own work to better identify and solve weaknesses. This really frustrated me because for the first time I was directly confronted with a major flaw in my solution and that is how will it continuously make money. I overcame this by staying focused on the objective which is to formulate a working business plan, and I will continue to push through with this mindset. I believe I was already tenacious before this class, but this class has made my tenacity grow and be more prevalent in my thinking.

3) My first tip for fostering skills in the development of tenacity would be time management. The assignments in this class can very easily creep up on you not allowing for enough time to produce good work. My second tip would be asking professor Pryor for feedback and help when needed. I have emailed professor Pryor multiple times regarding assignment objectives which has helped me achieve more thorough work. Lastly, I would recommend reading the news. For me, reading the news has helped me utilize real world events to shape my own thoughts and ideas. When developing a tenacious mindset, I just keep pushing. This class is not meant for you to fail, it is meant to help you think in a way we are not used to. We have the opportunity to brainstorm and implement ideas into our work without the influence of investors or any external environmental factors, this is the time to fail and learn from your mistakes without monetary repercussions and that has instilled a tenacious mindset in me. 

Idea Napkin No. 1

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

• I am a second year Business Administration major at the University of Florida. Before enrolling in the BA program at UF, I completed my Associates of Arts degree at UCF. I have personal experience with both of these university's parking situations due to having attended both. My talents include being an effective communicator, adaptable learner, and collaborator. My goal for this company is to modernize parking infrastructure across college campuses throughout the state of Florida. I would eventually want my company to be acquired.

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).

• I would be offering customers ample and convenient parking. The product is comprised of two separate but linked components. Physical parking structures will be built and or renovated with smart technology. The structure itself provides access to more available and accessible parking. The smart technology will track available and unavailable parking spots throughout the campus garages which customers will be able to see updated simultaneously on their smartphones. 

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psycho-graphic characteristics of your customers. Think especially of this question: what do your customers all have in common?

• I am offering the parking structures to university's across Florida. The app will be available to anybody who can utilize it to aid in their transportation need. All of my customers have the same thing in common, they all have the same problem. I will bring attention to the issue by getting in contact with heads of each university's student government association. This allows me to present the problem to those who share it with me. SGA possesses a yearly budget which would aid in the getting the university to buy the parking structures. 

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

• The direct customers for this product are university's which do not have efficient or effective parking infrastructure to accommodate the exponentially growing population of students enrolling in Florida university's. These university's care because they would be investing in the improvement of student, staff, and campus visitors experience. With the expansion of parking infrastructure, campus's across the state will operate more efficiently and effectively. For example, UCF's football stadium accommodates 46,000 people, their parking garages are comprised of 8,597 parking spaces. These parking garages are not exclusively held for sporting events meaning there is not 8,597 available spots for football spectators to park. With the expansion of infrastructure and the ability to track availability on a smartphone will allow large events to operate with reduced traffic due to the campus visitors knowing when the parking spaces are full. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

•  Work in progress. I currently do not have any legal protection over my proposed solution. 

Reflection 

I believe the idea at its core is a very good one. This idea would benefit both university's with reduced traffic and user satisfaction, while the users would benefit from having the information available to them to make an informed decision on their commute to, from, and around campus. I am concerned with the feasibility of the solution I have created so far. One weakest points is determining how I will effectively sell this product to the customer, this will be challenging due to the customer being university's and the majority of users are just beneficiaries. My other weakest point is figuring out how I can get legal protection of my solution to protect competitors from copying my technology. 

Figuring Out Buyer Behavior

Segment: Personal vehicle owners who currently attend a Florida higher education institution

Interview Questions: 

1. When does the parking problem become most evident for you?

2. Where on campus is the parking situation at its worst?

3. Does this problem effect you outside of your class schedule?

4. What is your alternative solution when you are unable to find parking on campus?

5. Have you told friends and family about the parking problem at your university?

Interviewee #1 (UF Male- Sophomore 20) 

This particular student lives on campus at UF. He stated the problem becomes inflated when sporting events are being hosted on campus because of the high traffic and also when intramural sports are in season at the the recreation center because he lives next to the gym and overflow parking falls into his resident complex parking lot. The problem is worst for him at his dorm because the parking lots are too small for the amount of people that have person vehicles, and the parking rules are never enforced for those who do not have valid parking passes overnight. This problem directly impacts his social experience at UF. The interviewee said it is very hard to find places to park for myself, sometimes I have to park far away which is a big inconvenience late at night, it is also impossible to have friends over because there is few spaces for visitors to park. He further stated it his solution when he is unable to find parking, he has to park somewhere very far away which can often times be off campus and then walk or bus to where I need to go which is very time consuming and inefficient. Furthermore, the interviewee expressed many people around him are aware and share the same situation as him. He communicates to his friends and family it is not worth the cost to purchase a parking decal.

Interviewee #2 (UCF Female- Sophomore 19) 

This interviewee lives in an off campus apartment. She stated the problem has become most evident to her due to her experiences with having to commute to work on campus from her off campus apartment. She further expressed the problem is at its worst in the parking garages that reside near main student hubs such as the John T. Washington center, the library, and the testing centers. This problem effects her outside of her school schedule as she commutes to campus many times per week for work. When parking is unavailable she does not have an alternative solution. She further stated she could ride the shuttle from her apartment to campus but the shuttle tracking system is unreliable at UCF and when time is sensitive for example when commuting to work, she does not trust the shuttle to get her to where she needs to go on time. Lastly, the interviewee expressed she complains to both friends and family about this problem consistently because it directly effects her and all of her friends who attend UCF.

Interviewee #3 (UCF Male- 19) 

This interviewee lives in an off campus apartment. The problem for this interviewee is most evident between 9am and 1pm. He stated the parking situation is at its worst in parking Garage B because it is in the very popular area across from the RWC and Ferrell Commons. This event effects this interviewee constantly when he needs to park on campus for events such as basketball games, concerts, and Greek life. He further stated his alternative solution when he cannot find available parking is to park illegally because it is too time consuming to sit in campus traffic and get to another parking garage before he is late to class. Lastly the interviewee stated he has told friends and family numerous times about the terrible parking situation.

Conclusion 

I found these interviewee's to provide great insight on their personal experiences with the problem on their university campus. This led me to conclude the segment is actively facing the same problem I have identified and they share many of the same concerns including unavailability of parking spots, inconvenience, and unsafe. This interview process reinforced the problem I have put forth because both on campus and off campus students are struggling with the same situation, it is university issue.

 
 

Testing the Hypothesis Part 2

WHO:
For this assignment I interviewed five people from universities throughout the state of Florida including UF, UCF, and FSU. These five interviewees are all students at Florida universities. While conducting my interviews I found that these students did not experience or have grievances with the parking situation at their university. Two of the interviewees utilize a personal bike to commute to campus, two others utilize the bus systems offered by their universities, and one walks because she is located on campus in a sorority house making campus easily accessible.

WHAT:
The need I identified differs from those who utilize other forms of transportation. The interviewees stated they did not share my same need for an increase in parking facilities because they utilize other means of transportation such as biking, walking, and busing.



WHY: 
The outsiders needs differ from those inside the boundary. The need I identified was the need for more parking facilities to be added to college campuses due to lack of current available parking spaces to accommodate the mass populations attending our state schools. Specifically the students who said they bike or walk to class/campus. Their underlying the need differs from the one I put forward. Their need is to have safe and easily accessible infrastructure (roads and sidewalks) to be able to commute to campus and class efficiently. 


Inside the Boundary 
Who is in- Those whom wish to utilize a personal vehicle to commute to campus, and those whom visit campus for university events.

What the need is- Upgraded parking facilities (Smart Garages)

Why the need exists- The need exists due to the exponentially growing population flooding into our state schools.

Outside the Boundary
Who is not- Those whom utilize other means of transportation (Bike, Bus, Walk)

What the need is not- The need for these students is not the same as the need I brought to light. They require other needs such as safe paths to bike or walk on to campus

Alternative explanations- Students who do not have a personal vehicle or choose not to utilize there vehicle on campus do not share this need because it does not solve a problem for them.

Summary 
Throughout these interviews I found two distinct patterns. Students who do not utilize a personal vehicle do not share the same immediate concern or need for an increase in parking infrastructure. Although they do not share this need, many of the interviewees (4/5) they would be more inclined to utilize a personal vehicle if their campus was to provide ample parking for the population of the school. This meaning they do not share the need but would look to capitalize on the solution due to more convenient means of transportation  

Elevator Pitch

Solving The Problem

Solving The Florida Universities Parking Problem

I believe this problem can be solved in a relatively easy way. My solution to this problem is a two part product. The first part of this product is the construction of parking garages on campus throughout Florida's universities that are equipped with parking spot monitor systems that can accurately distinguish a spot to be occupied or empty. This would allow the universities to utilize land efficiently by building up and not out which would allow them to accommodate more students in a smaller area. The second part of this product is an addition to each individual university app that is able to in real time track and update which parking spaces are available and occupied throughout campus. This would allow students to see which spots in which area of campus are available to park in before they drive to campus allowing them to plan where they intend to park.

Testing The Hypothesis

College Campus Parking Opportunity

Opportunity Presented: 

Living in Florida has given me the opportunity to have a diverse set of friends attending universities throughout the state who all have their own parking issues. College students are faced with the same task everyday, and that is how are they going to get to class. For some students, the most preferred method of driving themselves to class isn't always the most convenient option. Florida Universities vary on their ability to accommodate students when it comes to convenience of transportation due to lack of available parking spots in relation to the extremely large population of students at our state universities, which continue to grow every year.

Who: Commuting college students at Florida Universities. 

What: Students are unable to access available parking on campus. 

Why: This problem exists because Florida Universities have failed to adapt to the rapidly growing student populations in which they house causing a lack of available parking available for the large university populations. 

Testing The Who:
I have already identified an audience for this opportunity through my previous Finding an Opportunity Belief assignment when I talked about the parking problem at UF and the immediate surrounding area. I previously attended UCF so I am familiar with the parking situation there, as I now am here where I already had the opportunity to interview students on the issue.

Testing The What: 
My goal for this assignment is to gather primary testimonies from students currently attending or recently graduated from universities within the state of Florida on their University parking situation and how it effects their commute experience and overall campus experience.

Testing The Why:
While testing for the why I will ask the interviewees what problems they have identified to be in contribution to the parking situation at their university.

Interviewee #1: University of Central Florida Student (Male 19):
I conducted this interview with a student that has been at UCF for 2 years. He lived on campus his first year with a parking pass for his car, and has been a commuter living just off campus for his current second year. I first asked him what it was like to be an on campus resident in the University dormitories who had a car with a parking pass. His response was directed at the limited number of locations you could park at around campus based on which on campus residence complex you live in. There is ample amount of parking throughout the UCF campus, the problem for on campus residence is they are limited to parking their vehicles within the immediate area in which they live, not allowing them the freedom to park around campus for class or recreational activities. I then asked him if the parking conditions improved or got worse when he moved off campus and became a commuter student. He answered with dissatisfaction. He expressed being a commuter student who drives their own vehicle at UCF is not an ideal circumstance. UCF has an ample amount of locations to park throughout campus, utilizing various large parking garages in key locations, the problem is the relatively small amount of parking spaces available to accommodate a university of over 65,000 students. This causes students to circle in and out of parking garages until they find an open spot.

Interviewee #2: University of Central Florida Alumni (Male 22):
This Alumni recently graduated in Spring 2019 after attending all four years at UCF. I began this interview by asking if he had a parking pass during his time as a UCF student and what type of parking pass he utilized if so. His response was straight forward, he lived on campus for one year and utilized the on campus parking pass that correlated to his residence building. He then lived off campus for the remaining three years and utilized a commuters pass all three of those years. In regards to the on campus pass he utilized his first year, he stated he did not drive much his first year but he found the parking garage assigned to him was convenient because the garage was big and only residence of his complex were authorized to park in the garage which reduced traffic. His experience with the commuters parking pass was near identical to interviewee #1. He expressed the fact that there was not enough parking spaces to accommodate the mass amount of students at the university. He stated the University has over 65,000 students, majority being commuters, but less than 10,000 parking spots to fully accommodate those students.

Interviewee #3: University of Florida Student (Male 20): 
This student is currently in his second year at UF and has lived in on campus residence complexes both years. This student has utilized an on campus parking decal both years he has been at UF. While interviewing this student I asked if he found the parking pass to be worth the cost. His response was mixed. He stated having a parking pass as an on campus resident is convenient because it gives him the flexibility to leave campus when needed and provides him the flexibility to park around campus after 4pm. He also stated that the situation is bearable but not ideal. Having a parking pass at UF doesn't provide much transportation flexibility while going to class or even recreation. UF offers very limited parking options to students throughout campus, leaving students to rely on other modes of transportation such as bus, bike, or walk which can often times be less reliable and less efficient than the option to drive and park close to your destination on campus.

Interviewee #4: University of Florida Student (Female 20): 
This student is currently in their second year at UF. She has never utilized a parking pass in her time at UF. I began this interview by asking why she has never purchased a parking pass. She responded by saying she never saw a need to purchase one because her freshman year she lived on campus and did not have car and her second year she is utilizing the RTS bus system. I followed this question up by asking if UF offered more parking availability to students throughout campus would she purchase a parking pass. She stated she would purchase a parking pass. This would allow her to commute to school on her own schedule making it more convenient and attractive as a mode of transportation.  


Interviewee #5: University of North Florida (Female 20): 
This student is currently a third year at UNF. This student utilizes a parking pass as she lives off campus. I asked her what the main method of transportation was for students. She stated in her observation most people drive their own vehicles to campus and parking in an assigned lot based on which parking pass you purchased. She stated that the passes are relatively expensive and do not offer much flexibility as prices fluctuate contingent upon which parking structure you choose to purchase a pass for. The issue is not so much the availability of parking but the limitations the each pass holds.


Summary:
Throughout this interview process I was able to identify a trend. University students throughout the state of Florida are experiencing dissatisfaction and frustration with their university parking arrangements. I found students targeted the number of available parking spots to be non-accommodating for the large population of students and limits on parking passes restricting where you can throughout campus. Universities throughout the state of Florida are not building enough parking structures to accommodate the growing number of students attending their school, making driving to class and to on campus activities an inconvenient or sometimes not possible option for students.

 

Opportunities within Economic and Regulatory Trends

Opportunities within Economic and Regulatory Trends

Economics Trends 

 "Dow hits record, joining S&P 500, Nasdaq" 

https://www.foxbusiness.com/markets/stocks-feb-6-trump-acquittal-china-tariff-cut

The information provided to me from this article shows me that a clear opportunity exists. The opportunity in this given scenario is growth of personal wealth via investment in the stock market. The day after President Trump was acquitted of impeachment charges in the senate, the Dow, S&P 500, and Nasdaq all soared to record highs. The biggest benefactor of this opportunity is individual customers who can invest their personal money in the stock market to growth their wealth, and also businesses looking to capitalize on favorable market conditions to increase their profits. I believe the opportunity is relatively easy to exploit considering anyone can invest in their markets. I got this belief from my own experiences. I am an active investor in the stock market and I have been witnessing those around me, along with myself having positive results from this.

"China just agreed to buy $200 billion worth of US products" 

https://www.cnn.com/2020/01/16/business/us-china-phase-1-trade-deal-details/index.html

This article leads me to belief that an opportunity exists because it is written regarding the benefits both the US and Chinese economies will experience over the next soon to come years. I think the major customer in this is going to be American and Chinese companies. With the reduction in tariffs, this makes it cheaper for companies of both countries to do business with one another leading to increased investment and higher returns. This opportunity is relatively difficult to exploit. Although trade between these countries is becoming more structured and beneficial for both parties, those companies in which benefit are limited due to not every company being able to compete on an international scale. I feel strongly that businesses will benefit from this because this event is causing the American markets to rise which increases overall circulation of money leading to wealth creation and prosperity for business. 

Regulatory Trends 

"Fed keeps rates steady, to tailor Treasury bill purchases later this year" 

https://www.reuters.com/article/us-usa-fed/fed-keeps-rates-steady-to-tailor-treasury-bill-purchases-later-this-year-idUSKBN1ZS0HP

I am led to believe that this information reveals an opportunity exists because the Fed controls the monetary policy of the United States. I think the biggest benefactor of no rate changes is everyone within the marketplace because this allows for business to be conducted at a cheaper cost. This opportunity is easy to exploit, with rates being unchanged at a current low rate, this allows for both individual private customers and business to borrow money at a cheaper expense. I believe this opportunity exists because a the steady rates are a sign of a strong economy. When rates are lowered, it is in attempt to stimulate economic growth, so with the Fed maintaining current rates they are signaling the economy is strong and isn't showing signs of need for monetary stimulation. 

"Trump Administration Cuts Back Federal Protections For Streams And Wetlands" 

 https://www.npr.org/2020/01/23/798809951/trump-administration-is-rolling-back-obama-era-protections-for-smaller-waterways 

I am led to believe that this information suggests an opportunity exists because NPR is a trusted news source and I am aware of the Trump Administration EPA rollbacks. The most likely customer of this opportunity is businesses that had to reluctantly upgrade their social responsibility standards under the previous political administration because they can now operate more efficiently because they are not bound by as many environmental laws. This opportunity is easy to exploit, businesses have been finding loopholes for decades allowing them to operate in the most efficient and least restrictive manner. I believe their is an opportunity to be found here through my own personal experience. The article states that President Trump is rolling back federal limits on pollution in federal wetlands and waterway which President Obama put in place during his Administration. This comes from personal experience because during President Obama's time in office I lived in Detroit, Michigan and I witnessed the effects of increased pollution standards from the auto companies who play a huge roll in the pollution of our waterways with their factories.

Local Opportunities

Local Opportunities 

Gainesville Is The City Affected The Most By Poverty In Florida, Analysis Reports

https://www.wuft.org/news/2019/08/19/gainesville-is-the-city-affected-the-most-by-poverty-in-florida-analysis-reports/

• This story by NPR, local station WUFT talks about the extreme poverty levels in Gainesville, Florida. The poverty rate is 30% which is the highest mark in the state of Florida.
• The problem being described in this article is the high levels of poverty in Gainesville. The US Census Bureau reported 36,403 Gainesville residents sat below the poverty line being $25,465 for a household of four, with the median income being only $34,226 
• This problem faces Charles Harris, CEO of Central Florida Community Action Agency which is an organization faced with trying to find ways to lower the poverty rate and improve overall quality of life. City Counsel is also faced with this problem because they are tasked with creating a plan to decrease poverty such as affordable housing plans mentioned in the article.

The Day 'the earth shifted': Man whose home was sheared in half by sinkhole waits and worries
https://www.tallahassee.com/story/news/2020/01/30/florida-sinkhole-tallahassee-mobile-home-swallowed-hole-crater-capital-circle/2855305001/

• This story by the Tallahassee Democrat talks about the progression of a sinkhole that became worse until it took people's homes victim.
• The problem presented in this story is the destruction of property due to natural disaster and the displacement of people. 
• This problem faces multiple people including the home owners displaced by the disaster who lost their property and belongings, city planners who need to adapt their building location and techniques to prevent these disasters from effecting people. 

Florida black lawmakers want answers in fatal police shooting of former FAMU student in Jacksonville 
https://www.tallahassee.com/story/news/2020/01/30/florida-legislative-black-caucus-questions-shooting-former-famu-student/4619273002/

• This piece from the Tallahassee Democrat is telling the story of parents who lost their son to a fatal gun shot incident with the police and are urging lawmakers to find answers. 
• The problem in this story is the unjust death of former FAMU student Jamee Johnson. 
• This problem faces a multitude of people, biggest of them all being the parents of the man who was killed by the police. This problem also faces the the FAMU community, the Florida State Government, and the Jacksonville Police as they all search for answers on what happened.

Troubled UCF frat suspended through the end of 2020
https://www.orlandosentinel.com/news/education/os-ne-sigma-chi-suspended-20200130-3wvfu65h65at3jvqexyxe37xvq-story.html

• This story discusses the reasoning and terms of UCF's Sigma Chi Fraternity. 
• The problem in this story is the UCF's Sigma Chi not abiding by university policy causing them to get suspended. 
• This problem faces both the University of Central Florida and the Sigma Chi fraternity. UCF is faced with this problem because it effects their image and they have to discipline the fraternity. This effects Sigma Chi because they now are suspended from participating in all campus and school sponsored events.

Coronavirus: Wash your hands, cover your cough -- and don't panic 
https://www.orlandosentinel.com/news/os-ne-coronavirus-precautions-20200130-2vvz2wdr2vfajg3ba5rj74iofu-story.html

• This story is about the spreading of Coronavirus throughout the United States. 
• The problem presented in this story is the spreading of Coronavirus throughout the US, including the first human-to-human transmission recorded in the US.
• This problem effects everybody in the US. With a disease that spreads so easily, everyone is at risk because one person can start an outbreak. 

Forming An Opportunity Belief

Immediate Area Parking- UF

I immediately recognized the opportunity presented to me when I first arrived at UF. This opportunity being a lack of both physical parking and available parking throughout the UF campus and the immediate surrounding Gainesville area. Coming from UCF, parking was already a fresh problem I have been struggling with, until I got UF and observed the situation here to be much worse. Students, faculty, alumni, and visitors struggle with the lack of parking on campus and the surrounding area everyday. This is not only a problem for the everyday operation of the University when it comes to academics, but also extracurriculars' such as football games where there is not an ample amount of parking to accommodate the 90,000+ spectators that fill Ben Hill Griffin Stadium. This problem arises from a couple of reasons I have observed. 1) Gainesville utilizes a public transportation system (Buses) operated by RTS. With this being the main source of transportation, the problem has always existed due to UF having a partnership with RTS which may contribute to the lack of parking available on campus and the surrounding area. Currently, this problem is being dealt with by avoiding it. People throughout the UF area have been forced to find alternatives such as the RTS bus system, and the very popular scooter option.

Interviewee #1- Nicolas Anzovina: Undergraduate Student (20 years old) 

Are you aware of any free parking on campus? (No tow-away zones, no decals required)

• I am unaware of any parking available for free before 4:30 which is when the majority of parking opens up to the public. 

What is your main method of transportation to and from campus? 

• I use the RTS bus system almost everyday to get to class. It's really my only option because the only option for commuters is a park n ride pass which is too expensive and it doesn't give you the flexibility to park around campus, only two dedicated parking lots out of the way from everything. I live 3 miles off campus so it's also not ideal for me to bike or walk.  

How do you get to campus if you miss the bus? 

• I drive to campus and park at the Reitz Union (if there is space, usually it's full) and pay for 2 hours, or I find the nearest parking garage and hope I don't get ticketed or towed.

Where do you park if you are going to eat at Relish on University just outside of campus?

• Optimally, I get a parking spot in the Relish parking lot. The problem is they share a parking lot with 7 or so other business and the parking lot only holds 20 cars so if you're unable to get a spot out it's pretty hard to find a place to park. There's a slim chance I find a open meter spot which leaves me with my only options of either buying a Gainesville city parking pass or parking in a nearby lot and hope I don't get a ticket or towed, this is what it's like throughout UF and the surrounding area, it's almost impossible to find somewhere to park. 

How would you rate the UF and surrounding Gainesville area parking from 1-10 in accordance to the population of people at UF? 

• I would rate the parking situation as a 4/10. There isn't enough parking available for the amount of people at UF. It is an extreme inconvenience searching for an open parking spot if I'm even able to find one within a reasonable distance from where I am going. 

Interviewee #2 - Drew Kraemer: Undergraduate Student (20 years old) 

How often do you park on campus? 

• Never. Everyone I talk to tells me it is impossible to find a place to park on campus so I don't bother with it.

What is your main method of transportation to and from UF?

• The RTS bus system. It's really the only way for me to get to campus because I live a few miles off campus and don't have a scooter.

Why haven't you chosen to purchase a scooter?

• I already have a car. The cost for a scooter wouldn't be worth it for me because I am able to utilize my car for transportation except for when I'm traveling to campus. 

Would you still utilize the RTS bus system if UF offered students and faculty ample parking?

•  No. I would definitely drive to school if the circumstances allowed me to. 

Does the lack of parking make your UF experience less enjoyable?

• Hell yes. The only thing not enjoyable about my time at UF is the lack of parking because it is just a big inconvenience when commuting to campus.  

Interviewee #3 - Sarah Ely: Alumni (25 years old) 

While you attended UF, how did you view the parking situation?

•  The parking at UF has always been terrible, especially during outdoor activities such as football games. 

Did you have a parking pass during your years at UF? 

• Never, it was not worth taking the chance of not finding a spot when I needed to be on campus. I purchased a scooter but got rid of it due to safety concerns. 

How was scooter parking in relation to traditional car parking? 

• It was easier to find spots closer to my classes but the spots were way too small and overcrowded which caused my scooter to become damaged. 

While you attended UF, how did you observe the parking situation to be with nearby establishments such as Relish on University and Krispy Kreme Doughnuts on 13th street? 

•  Parking right off of campus was extremely limited and made it difficult to do things such as grocery shopping without getting towed, fined, or having my car damaged from too small of spots. 

Reflection 

• My experience with this opportunity is that most people feel the same way when it comes to the UF and surrounding area parking situation. I was surprised to find that with alumni Sarah Ely, her experience was different from both Drew and Nicolas. She utilized a personal scooter to commute to and from campus but eventually gave this method of transportation up due to damages to her vehicle due to overcrowding and small spots. 

Summary 

• After interviewing these three students (both current and alumni), I believe my opportunity belief has grown significantly. My original opportunity is still thoroughly intact due to the interviewees expressing to me how unpleasant and inconvenient the parking situation is at UF. When entrepreneur's seek and receive feedback from customers they should move swiftly to adapt their product in relation to the feedback because the customers are what keeps a business successful and growing.