Week 4 Reading Reflection

1) I was so surprised by the returns that companies in Africa are seeing. That's an incredibly hearty return, where are these companies finding these profits in foreign countries? Where does one go about finding a return like that? I think that emerging markets really can prevent some interesting opportunities for investors, but I don't think I knew the opportunity was in Africa.
2) I'm confused on why security hunting is such a bad thing. I feel like there are plenty of low risk decision that could fall into remaining secure, so this idea that security hunting has no risks seems confusing. There is risk taking in security, because nothing can be so sure that you have to take no risks. Security hunting without taking any risks seems paradoxical.
3) I would ask for the author to clarify the four areas of innovation. What are the distinctions, and where does one start? Are you supposed to know which area you are before you go in, or do you just begin innovating and see which area you fit in?
4) I don't know if I would reward heroic behavior. I think I would more say that it's important to really reward logical decision making that pushes you toward your milestone goals. You want to be pushing towards your goals, not heroic decision making. Heroic decision making gets companies killed.

Customer Interviews Number 1

1) My opportunity came about pretty organically, as I considered some things that hinder me often. The opportunity that presented itself for me was that I often am stuck waiting for parking spots at Starbucks on 13th Street. There is room for additional parking across 13th street and I was wondering if people were frustrated with the parking at Starbucks and if people would be willing to pay to park nearby.

2) I was looking for people who I knew used coffee shops as study areas, and possibly the Starbucks on 13th street. That was mainly college students.

3) My questions were to ask for age, name, and major. I then asked how many times a week they went to the starbucks on 13th street, how they felt about the parking situation, and if they would be willing to pay to park.

4) Talking was pretty uncomfortable, and most of the people I asked to interview were far more comfortable than I was.

5) I learned that you can't just assume what the general public believes. You really learn the views of people so much better by asking them.

6) I learned that interviews are not just a write off. It's hard to come up with an interview that will tell you something useful, and it's hard to execute it. Interviews are no super easy, and can also give you a mixed bag of information. 

Top 5 World Problems

Problems:
1) Dirty water is everywhere. People in developed and undeveloped nations are unable to get to clean water. In developed nations, often the issue can be one of personal greed opposed to an inability to provide clean water in an easy way. In undeveloped countries, it can often be an issue of transporting water to an area that can't find it themselves. 

2) Americans are no longer saving as responsibly as they should. The numbers are staggering. No one considers retirement with the weight that Americans used to. The future is hard to read when Americans are unwilling to take care of themselves. It will fall on us to cover the publics butt when they retire. 

3) Racism is an ongoing structural issue around the world. People are affected in every region of every nation. It's a far cry from defeated. This is especially important because often the world believes that because we are running out of enslaved populations, we are no longer racist. 

4) Tuition costs are globally on the rise. It's of the highest importance for students to be able to enjoy an affordable education. Affordable education is how we ensure a self sufficient working class. If the majority of people don't have some form of higher education, it's much easier for society to ask for others to support them. 

5) Honey bee numbers have been on a horrendous decline over the last few years. This is globally a big issue because honeybees are the reason so many of our plants get pollinated. Without bees pollinating many of our flowers, we would be watching so much of the nation and worlds floral beauty crumble. 

Solutions:

1) If you can't bring the water to the people, it can often be pretty simple to find a way for the people to clean the water themselves.

2) One way to combat this is to talk about racism in public ways that brings it to everyones attention.

3) One way to offer more affordable education is by asking the government for increased funding.
4) We can help to change this by informing people of the importance of retirement and saving.

5) We can help the bee population by providing them more habitat and providing minimally invasive means to control their predation.

Justification:
I believe that a lack of clean water is one of the most crippling problems the world is facing today. I think finding a way for people to bring water to themselves is pretty simple, and its relatively easy to issue some sort of vehicle to bring water to and from villages in undeveloped country. I believe the honeybee population is far from the most important issue, and it's difficult to find a solution that is practical all over the world. It's easy to say we should grow habitat but much harder to actually do it. 

Identifying Local Opportunities

http://www.gainesville.com/article/20160124/ARTICLES/160129831/1139?Title=Crapo-s-bold-steps-come-with-legal-bills
A) Crapos bold steps come with legal bills
B) Crapo has been seeking unpaid property taxes over the last few years from high profile organizations, some with nonprofit or charitable status.
C) The problem is that organizations are seeking charitable status just to avoid taxes, despite the fact that many of them shouldn't actually remain untaxed.
D) The problem lies with the government, which is allowing companies to go tax free and is also not collecting a fair amount of tax.

http://www.gainesville.com/article/20160124/ARTICLES/160129827/1182?Title=Driver-unhappy-with-synching-of-traffic-lights
A) Driver unhappy with synching of traffic lights
B) The light at 16th and 43rd is only long enough for 8-10 cars to go through, created a substantial back up for the drivers going through the light.
C) Area drivers are becoming increasingly frustrated with traffic lights that are much shorter than their demand merits.
D) The problem lies with both the government and the people who use the light. The government will probably see mounting frustrations as the town continues to spread westward, and more traffic goes through the light.

http://www.tallahassee.com/story/news/politics/2016/01/23/teachers-speaking-legislature-listening/79244348/
A) Teachers speak out, but is the legislature listening?
B) Teachers protested the legislator in a fiery way that made their views clear on standardized testing, bonuses for standardized testing, and the way that politics are polluting the classroom.
C) The problem is that our best teachers really are fighting against policy infighting tension between the government and schools.
D) The problem lies in the middle of the gridlock between policy makers and teachers. This will also affect students.

http://www.tallahassee.com/story/news/2016/01/22/calhoun-liberty-hospital-serving-shoestring/79128894/
A) Calhoun Liberty Hopsital Serving on Shoestring
B) There is a limited budget for small hospitals like this one, which can be so important when someone needs emergency medical attention. The story highlights a young snakebite victim in 2015.
C) The problem is that these area hospitals are so important for people who desperately need help. Other care can be hours away by ambulance, and that can be the difference between life and death.
D) The problem is in the hands of both the government, and those who are in need of emergency medical care in the area.

http://www.tallahassee.com/longform/money/2016/01/24/rise-assisted-living-facilities/79124882/
A) Rise in Senior Assisted Living Facilities
B) A sharp increase in senior care assisted living facilities in the Tallahassee area may lead to increased competition and cost comparison, at the end of the day possibly deeply decreasing benefits and services provided to people in facilities.
C) The problem is that if the competition gets fierce enough, the facilities will begin to cut amenities and that will hurt the people staying in them.
D) The problem will lie with the companies that have lost their ability to make strong profits, and the old people who will be losing their quality of living.

My Week 3 Reading Reflection

1)   I learned that there are several views on risk in the mind of the entrepreneur. I assumed the mentality was to always minimize risk and maximize profit. I’m understanding some will actually take on ventures that offer little profit but lots of risk, because the task is meaningful. Some will take on medium profit tasks with low risk, because they are risk averse. Every investor has a different approach to risk and profit motive.

2)   I don’ t understand why running is related to all the positive results measured, but weightlifting is only related to two. I think the results would be the same across many exercise areas. It’s an interesting theory that it would be different for one exercise than another.

3)   I would ask the author how the overriding need for success mixes with entrepreneurs who are low risk and low profit oriented. What does that coexistence look like?

4)   I don’t think that unrealistic optimism is a bad trait. I think that unrealistic optimism can be a good trait, because often it inspires people to reach a big vision and that will move people to hit other goals, even if they are smaller. So I would say unrealistic optimism isn’t a bad thing.

Very short interview No. 1

This is my interview with Danny, a man who began making furniture during college from cheap lumber and sold it through different e-commerce sites.

How did this get started?
I realized I could make money off of something that I thought was really fun. I know I enjoyed woodworking, and after awhile I realized that I could sell it and turn a profit off of it. Plus, I had too much spare time on my hands.

What should I hope to get out of an entrepreneurship class?
Practical skills to go it on your own, if you so choose. Lots of people are able to cast a vague dream of something they would like to do, but they know is impractical. Entrepreneurs aren't dreamers. They are very down to earth.

What do you wish you had known before you started selling your woodworking?
Your business won't take care of itself. You have to push it forward, you have to promote it, you have to get your product out there. It's not something that just happens, it takes tons of hard work. I thought my product would do the work for me, but that's not the case.

I was surprised, again, at how entrepreneurs aren't quite as abstract as I once thought. I always picture them as big dreamers. I continue to realize being an entrepreneur is a science, and it takes a business mindset to look for companies that will work and ones that won't. Danny reminded me to start by doing something you love, because no one wants to get into a business only to watch it flop because you weren't interested. It's important to realize that once you have gotten into something that isn't interesting to you, you have already lost, even if the business succeeds.

Worlds Biggest Problems

Hey internet,

This is a list of the worlds 10 biggest problems, according to me. 

1) Dirty water is everywhere. People in developed and undeveloped nations are unable to get to clean water. In developed nations, often the issue can be one of personal greed opposed to an inability to provide clean water in an easy way. In undeveloped countries, it can often be an issue of transporting water to an area that can't find it themselves. If you can't bring the water to the people, it can often be pretty simple to find a way for the people to clean the water themselves.

2) The growing wage gap in America is making it more and more difficult to develop a middle class. This really perpetuates  a cycle where a large number of people aren't thriving. One of the easiest ways to combat this is to provide affordable housing to more people, and to provide housing that caters to the general public. The wage gap is a difficult item to tackle.

3) Pollution is ripping the ozones fragile heart to pieces every day. It cries over smog. Industrial nations are producing harmful toxins at a rate that the world cannot repair at. One of the easiest ways to battle pollution is to encourage mass transit. It's a small step to continue putting mass transit into the nations biggest cities. 

4) Racism is an ongoing structural issue around the world. People are affected in every region of every nation. It's a far cry from defeated. This is especially important because often the world believes that because we are running out of enslaved populations, we are no longer racist. One way to combat this is to talk about racism in public ways that brings it to everyones attention.

5) Americans are no longer saving as responsibly as they should. The numbers are staggering. No one considers retirement with the weight that Americans used to. The future is hard to read when Americans are unwilling to take care of themselves. It will fall on us to cover the publics butt when they retire. We can help to change this by informing people of the importance of retirement and saving.

6) Social security is going to run out. People are no longer going to be receiving the money that they have been pitching towards all of their life. As we continue to put money in, we will eventually find that we don't receive it back. It's going to be a large issue. One way for us to fight this is to push for social security reform.

7) Honey bee numbers have been on a horrendous decline over the last few years. This is globally a big issue because honeybees are the reason so many of our plants get pollinated. Without bees pollinating many of our flowers, we would be watching so much of the nation and worlds floral beauty crumble. We can help the bee population by providing them more habitat and providing minimally invasive means to control their predation.

8) the divorce rate in the US is around 50%, which has been harming our youth and hurting our nation. Divorce is expensive and damages our most important resource: our future citizens. Divorce is also expensive, robbing spouses of their financial security. Few societies thrive when the sanctity of marriage falls apart. We can fight this by providing help to struggling married couples in an affordable way.

9) Public schools are underfunded because home values are not what they used to be. Because of poorly funded schools, our children receive poorly funded education and thus are less prepared for higher education and ultimately the workforce. The way we can fight this is by keeping a flat tax amount that won't fluctuate with property values, so we can ensure our schools have certain resources. 

10) Tuition costs are globally on the rise. It's of the highest importance for students to be able to enjoy an affordable education. Affordable education is how we ensure a self sufficient working class. If the majority of people don't have some form of higher education, it's much easier for society to ask for others to support them. One way to offer more affordable education is by asking the government for increased funding.

Week 2 Reading Reflection

1) The thing that surprised me the most is that entrepreneurs aren't always inventors. I think I would almost disagree. I believe that a new delivery method, a new way of thinking, or a new way of doing things is a type of invention. Perhaps though we are able to just capitalize on existing opportunity. I suppose sometimes we do it one way, and other times we do it another way. Sometimes entrepreneurs come up with a new product, and other times they merely change the way it is presented, or provide capital to get something off the ground. I'm sure entrepreneurs from time to time aren't creating, but escalating a good idea into the realm of the public eye.

2) I'm confused by the strategic formulation school of thought. It takes a big shotgun approach to what it takes to be successful, and really never identifies any specific traits that someone should have. Obviously, entrepreneurs should have many traits, but what are those?

3) I would ask the author what their experience with entrepreneurship is. I would like to know their background, what their major was, and what they actually ended up doing. Do they speak from experience? Have they been researching all of this for years?

4) If you look back at my first point, I think I believe that entrepreneurs must be inventors at some capacity. They must be able to present something new, because successful entrepreneurship really doesn't come to fruition by picking fruit somebody else successfully already picked.

Bug List

Bug list:
1) When "artisan coffee" actual tastes like dirt, but we all pretend it is just highbrow.
Why: I'm thinking this is groupthink, or some variation of it. Once something is deemed nice, and you don't like it, suddenly you have bad taste.
2) When athletic apparel is pretty impractical, like Nike Fly knits.
Why: A couple people indorse something and suddenly it's the bees knees. People will get hurt because celebrities decided that they are pushing fashion over safety and practicality.
3) When FaceTime fades out because of poor connection, and you know it won't recover, but it makes you wait anyways.
Why: This is maddening. It's an issue because you are just stuck in technical limbo. I wish it just switched to FaceTime audio.
4) When you can't download things onto your phone so you can watch them even when you don't have wifi, like on a plane.
Why: Because if Netflix would let you download, then you would never have to go on their website etc. You would also eventually be able to share the content you downloaded, probably.
5) The fact that academic libraries never have anything interesting to read. Where's the Harry Potter, Marston?
why: I understand it's probably a space thing, but honestly most of our school libraries are packed with books no one will ever read. You can read anything online.
6) When people read things online instead of reading an actual book.
why: For some reason, we are moving away from books. Maybe it's to save a rainforest, but honestly there just seems to be a lack of power in online books. I just never feel like it's the same. But I'm sure, again, we do it to save space, money, and convenience.
7) When online books are really close to the price of the actual book.
why: This happens because companies have overhead even when there is no paper in the book. The overhead can't be that of the company that has to actually print the book though, how can they be similar in price?
8) List articles. List articles are the 2014 version of cliff notes. The internet has been dominated by the "too long, didn't read" versions of actual thoughts. Instead of taking the time to read through something heavy, we simply get to skim the 10 reasons something happens according to one pre-teen author. It's dumb.
why: this happens when people are starting to lose a solid attention span. We can't focus on anything. Nobody wants to have to put thought into anything anymore.
9) The corner of Archer road and 34th street. The traffic is the worst.
why: No one expected Gainesville to reach out west like it has. Gainesville used to be so heavily oriented to the east side of town, and now we have the overcapacity issue at this corner.
10) Gross mass transit, for example, Gainesville's gross bus system.
why: Imagine if the bus was something everybody did. Imagine if clean people rode the bus. It has been stereotyped as the way the poor travel, and really doesn't receive any attention from the government to make it a practical means of travel for the middle class.
11) Abortion pictures in Turlington.
why: It's not the way people fighting abortion should be fighting abortion. It's too graphic for the public eye, and I can't imagine being someone who has had an abortion walking through Turlington.
12) Donald Trump.
why: The man is about as obnoxious and asinine as it gets. He has no sense of tact, no sense of diplomacy, and it bothers me that he would try to seat himself with me on the Christian right when the only belief we share is that he is good at business.
13) Parking on campus being such a hassle. Especially near library west. How do we not have more parking there?
why: I think this happens because campus can't expand north anymore. Like what can UF do, buy out midtown? It's really hard for them to find space, it's honestly just so cramped on the north side.
14) Individuals who jack up pharmaceutical drug prices. It's not ok.
why: Where there is a profit to be made, people are so quick to gauge it. This is more an issue with corporate greed than anything else, honestly.
15) Coffee cups that are way to hot
why: Many places want you to just put the sleeve on yourself or only if you want one. Why don't we build in a sleeve? What if a cup had a manufactured bulge there to help protect from the heat?
16) Impractical emotional advice in some online forum that has no applicability for you, from someone who knows nothing about you.
why: This happens because everybody who has a keyboard wants to be the most wise person you have ever met. I don't think it's right for people to just throw their thoughts out there on the internet. It's bizarre to me, the frequency with which I see articles about your one true love or whatever.
17) The gradual flight of tuition costs. They grew wings and took off.
why: Tuition is blasting upwards at a rate that is hardly tied to inflation. This is happening because schools, it would appear, are being poorly funded and are placing the cost on the students. I understand this is how business works, but it seems that the individuals who can't afford school will leave for some type of online education. As students leave, schools bleed money, and therefore we place more of an economic burden on students.
18) The fact that there is no public money for missions that serve the greater good.
why: If your church can go to another country and do a lot of good things for them, and yet they are tied to a religious purpose, why can't they receive public money? Has the country gotten to the point where they are unable to get any money, just because they are tied to a faith?
19) When homeless animals get the attention that homeless people or orphans deserve.
why: animals aren't people. This happens because people want the altruistic feel of taking in something homeless, but not the work of taking in an actual child or person.
20) The price of a shirt doubling because it has a quail on it.
why: I'm so interested to know why something becomes so crazily expensive because somebody put a quail on a shirt. This happens because the trend is obviously the deep south plantation vibe, but can I get the shirt with no bird on it, or maybe a crow, for $30?

This was pretty difficult. It was strange though, at the end, to look back on this list and find a lot of things that really did bug, and I knew bugged me, all in the same place. It was strange to see all the things that irk me sitting together in the same pew. As I look at the list, I think one big thing I struggle with is a lack on intelligence in your typical consumer. Or maybe, this is a list of things I dislike about myself being vomited onto a page. Probably the latter.

My Entrepreneurship Story

Throughout my internship, I've come to understand that most people in wealth management run their own small businesses. It's interesting how everyone is, in one way or another, being innovative in how they create and retain business. My entrepreneurship story isn't over, but it has started in the office. I've come to understand what it takes to run your own business, and make yourself into someone that is successful. It's not easy. 

I had no idea how many people would fail. The people in the office who have succeeded explained to me that it takes a lot of hard work, a lot of reaching out, and a lot of overcoming intense obstacles to make a name for yourself. The great thing is that once you get off the ground, business perpetuates business if you do it well. 

I signed up for this class because I want to better understand how to operate my own business, and the attitude that it takes. I've understood that it requires passion, and I have that, but it also requires some type of refined skill. It requires a mentality that is a mix of innate and trained talents. It's something you're born with, but few people are born with a functional entrepreneurial spirit. 

I know I'm not. That's why I signed up for this class! I want to take what I have and turn it into what it takes. I think this class offers a really cool opportunity to see where you need to direct your skills for the long run if you want to make it in business on your own.

Introduction

Hi there, internet!
My names William. I'm from Tallahassee, Fl. If you need directions, just head north until you smell it and west until you see it. I come from a pretty typical suburban home and life on the north side of town.
I'm a finance major and I intend to stick with it through graduation. If you don't have a major to stick with by your junior year, you're in trouble. Am I right? I enjoy finance, but I really enjoy working with people. Financial advising has always felt like the best of both worlds, and my experience in Wealth Management offices has shaped and reinforced this view.
I work at Merrill Lynch here in Gainesville. I got the job here after completing an internship with Merrill Lynch in Tallahassee. I have enjoyed my time at both of these place immensely. I also used to work part time at the Hyppo, Gainesville's premier gourmet ice pop shop. Merrill Lynch is interesting, but the Hyppo is tastier.
I'm also active in Younglife here in Gainesville. Younglife is a ministry that focuses on reaching high school, middle school, and college age individuals. It has been a fundamental piece of my late childhood and now young adulthood. It's one of the most welcoming and pleasant places to be, ever.
I hate cats, they are no good. Get a dog.

William's Entrepreneur Mantra

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