30A - Final Reflection

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?


For me, the most formative experience was to force myself to look for opportunities near me. I think daily we think about things we don't like or ideas that might change a lot how we do things daily, but we never actually decide to do something about it. I'll remember how many times you have to practice an elevator pitch in order to make it perfect. This will also include regular presentations throughout my career, sometimes we think is good enough but we need a third eye witness with feedback so that they can tell us what they think you can improve.


I think the experience I am most proud of is the elevator pitch, I consider myself introverted so when I was imagining a crowd that I could talk to I tried to be as confident as I am when I'm surrounded by friends. Each Elevator Pitch helped me to improve my attitude about it.






3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

I don't think of myself as an entrepreneur, but I think I understand where to start. A risk mindset and a drive for opportunities are needed, which I think I got that somewhat developed with the opportunities exercises.


4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

I would recommend being prepared to have an open mindset if this is your first time touching the entrepreneur branch of business. Don't forget about cupcakes and assignments due dates, and watch the lectures. I am not a business major but I enjoyed exploring the entrepreneur mindset, you just have to want to learn in order to make it fun. This is why I recommend having that mindset, the things that you learned here could come up on your brain in the future. 

29A Venture Concept No 2.

Opportunity

• Among the group of people that may need my solution are included pedestrians and drivers in Gainesville.
• During the first stage, we will be addressing a B2C market by addressing everything directly to the costumers.
• The opportunity we are currently addressing is the following: Every year, one of the main reasons that people find themselves in a life-endangering situation is that someone committed a reckless move while driving a motor vehicle.
• The nature of my need and opportunity is the lack of security on the road. Individuals that are not careful while they drive can cause a lot of accidents. Because of this, there is a need for restraining their available space to do said reckless activities. The mistake of one can cause the loss of someone's life.
• The forces or changes in the environment that create this opportunity are the increasing number of accidents due to a reckless move.
• Some of the demographics and geographic include living in the Gainesville area and be a smartphone user.
• I predict most of the costumers to be within ages 18-40 yrs old, because of technology proficiency.
• Customers are satisfying the need by taking part in the way of justice, most of the time, there are people on the road causing accidents that other people saw and couldn't do something about it because they are not the police. Also once the police arrive, you and other witnesses are already gone and the police end up not punishing the one responsible.
• Most of my potential customers are not relying on any source of justice other than the traditional phone call.
• This opportunity could change significantly the number of accidents observed on the road since, over time, everyone will be scared of other people being able to whistle-blow over an illegal action they might perform.
• This window of opportunity is available up until someone comes with a similar idea, it is impossible to predict when is that going to happen.

Innovation

• My innovation here is an app. This app is a direct contact between you and local police, just as the security apps that are already placed by UF and Santa Fe College. The difference is that you can report illegal and reckless activities you see on the road and send it with video footage and time stamp to the appropriate authorities. The app would have the camera running on command by the user while all other apps are still functioning. This can be accomplished with background permissions just as Google apps have (GPS, Microphone). We understand that sometimes staying for the police can mess with our schedules, so by only the press of a button you can send the report with video footage of what happened when it happened, and where it happened. 
• The idea of the app is to be completely free for the user, but that doesn't mean it is non-profitable. Each time a police officer issues a ticket, the state and county gain the money of that ticket, my idea is to get a percentage of said amount of money if the ticket was issued with the report provided by the app.
• Another probable source of revenue through the tickets could be with a partnership with insurance companies. They profit from tickets with about 7.5 billion dollars a year, which is why they donate to the state's police department. A deal with them could benefit both parties.

Venture Concept

• This idea would decrease recklessness significantly because it involves in a way taking justice to your own hands. Which is also why customers would acquire the app, a lot of people suffer while driving due to irresponsible actions done by other drivers. This is why if given the chance to indirectly punish those who deserve it, they would do it by sending the evidence to the police.
• I don't find direct competitors since there are not platforms that contact the police other than the campus security apps developed by UF and Santa Fe. But these apps are not traffic-related or focused so that's their disadvantage.
• In order to keep a sharp and robust app, we need servers and software debuggers. Once the app can generate some profits, the hiring of a couple of software developers and the purchase of servers can increase the security of the app.

Extra sections:

• In my opinion, our most important resource will be the network of people and contact with potential consumers. This resource will not only allow us to develop our solution at a less cost by relying on people that had been referred but will also serve as a marketing function by promoting our solution. 
• As of right now, our core competencies are that we are pioneers, meaning that there is no one else in the market that offers this solution.
• Another core competency that we could have in the future could be to have contracts with whole states, or even internationally.
• In five years, I will like to be already be expanding by catching up with technology like AI, so that everything can be reported automatically. Maybe getting into GPS traffic tracking, where a report could be sent easily.
• As an entrepreneur, I just want to have the opportunity to develop something I am passionate for and that will allow me to have a balance between work and my family.

2) Summary of Feedback

• The feedback provided argued a concern about how profitable actually traffic tickets are. 
• Also the concern of how reliable it is partnering with the police.

3) Change of venture concept

• I specified that ticket business is actually a profitable business, some states gain more revenue from tickets than from taxes varying from 3.75 billion to 7.5 billion a year.
• Which is why I added another possible source of revenue, insurance companies. They profit from tickets because they can charge more for a reckless driver, which is why they donate to the police millions of dollars worth of speed guns and technology.