Halfway Reflection

1. I spend time everyday doing the assignments due at the end of the week and recommend a new student do that as well so the work does not pile up.  You also must think, you cannot give half effort and expect to be able to finish the assignments in a timely manner.

2. I thought about giving up when we've had to do interviews.  I have tried to seek a diverse group of interviewees to get the best and most unbiased results.  It has been tough and has taken a long time.  Over a week in one case.  I feel like I have developed a tenacious attitude because of these interviews.  Doing these assignments have made me think more like an entrepreneur.  This attitude has helped to shape my business model as well.

3.  My first tip is to think like an entrepreneur whoever you can.  If you cannot, fake it til you make it.  It is so important to have the tenacious mindset to give you an advantage over someone who is not giving full effort in this class.  My second tip is to pick a business model that you are passionate about.  My need that formed my business is something that I personally am affected by.  The final tip is once you find something you are passionate about, don't let anyone know what you're thinking.  Any leak of an idea could derail your business venture. If you're familiar with Mamba Mentality, be like Kobe.

Reading Reflection

I read Grinding It Out: The Making of McDonald's, about Ray Kroc, the man who revolutionized McDonald's as what we know it as today. 

1.  What surprised me the most is that Ray Kroc isn't a founder of McDonald's, but when he heard the idea and their business model he was intrigued so he flew out to meet them.  It amazes me and I admire how much faith he had to put in his business ventures.  I most admired how he was able to see the potential in not only McDonald's but also his past jobs of paper cup sales and milkshake sales.  I least admire the dispute that Kroc had with the McDonald brothers before he bought them out.  He encountered adversity at all steps of his business ventures.  When he began selling milkshake mixers, he was only retaining 40% of this earnings, after franchising McDonald's, he went through quality control problems trying to ensure that every franchise operated exactly the same.  To solve his problem, he brought in experts to solve his problem.  For example, he struggled to get all his fries to taste the same.  He brought in the Potato and Onion Institution to perfect the process.

2.  Kroc had many competencies.  He made a McDonald's policy that customers can get refunds if their orders were wrong or took more than 5 minutes to serve.  This built customer loyalties.  He also could see potential that allowed him to be successful in different jobs.  He also always believed his best years were in front of him, which is a great skill for any entrepreneur.

3. One part of the reading that was confusing to me was how he struggled dealing with the McDonald brothers and how the best solution was to buy them out.

4. I would ask him what made McDonald's stand out from the other thousands of kitchens he'd been in before seeing the potential in McDonald's.  In his franchising process, he was told that his fries were so much better than any competitor that "he was in the fry business not the burger business."  I would ask him if he recognized this statement in his business operations and how it may have changed the outlook for the company. 

5.  I think his opinion of hard work was always looking toward the future, thinking that the future would always be brighter.  I agree with this because along the way of failures and hardships you will learn to perfect your craft as time passes.

Figuring Out Buyer Behavior Part 1

For my segment, I will be choosing UF students and faculty

interview 1:  In this interview I chatted with my friend who goes out to the midtown bars about 3 times a week he said.  I told him all about my business plan and then explained how it formed around a need, and I'm trying to gather information about other people also having this need.  He says he has this need, because he loves eating food after a long night at the bars, and has craved chicken nuggets but obviously can't drive to get them and no place nearby is within walking distance.  With this being said, his most salient need is late night chicken.  Our business can offer that.  When other chicken places are closed, we can be the chicken source for the people who need a late night snack.  Having the restaurant walking distance from campus is nice as well.  When he becomes aware of this need, he searches Uber eats and Hooked to try to find a good deal on chicken.  he will no longer need any of those apps, he can now just walk to get his food.

interview 2:  The next interview was with a girl in my Business Statistics class who doesn't drink and does not go to the bars at Midtown.  I knew this interview would give me lots of insight for the future of the business because I formed this idea on the need that I had for late night chicken after going out.  I first explained the need and asked her if she had this need for chicken so close to campus.  She explained that she does have this need.  She lives just steps away from Midtown at Buckman Hall, which is closer to midtown than it is any of the chick-fil-a's on campus, so her need extends to whenever she wants chicken.  She also prefers studying at Lib West, which is also very close to Midtown.  She wants chicken when she wants to reward herself after an exam or a long night of studying and on the weekends when she's with friends.  Her need is unique yet common.  Unique that it's different from most UF students' but common in that nothing really stands out about it.  It gives me an interesting background that a chicken place can be good for any students, not just the late-night hungry ones.  She also said that she wants a place to get milkshakes in this chicken place too.  This information search will help me try to make our business appealing other than just chicken, location, and convenience. 

Interview 3: My final interview was with a UF groundskeeper who works on campus.  He explained to me how most of his colleagues and he eat at the current places at midtown 2-3 times a week.  Immediately, even before explaining my business plan, I saw a new potential customer in the people who do not live in the area but work for UF.  So, I then laid out my business plan and explained the need that shows why I'm looking to start this business.  He explained that he needs to eat lunch close to campus because he doesn't have a ton of time for lunch.  He said having a chicken place, especially with flavored wings, would attract his male coworkers.  He added that since the current places at Mid have been around for a while, having a new place alone would attract him because his options are limited and he eats at the same hand-full of places most of the time.  He pinpoints a need from UF faculty who don't have a ton of time and will want to try the chicken place because of its novelty compared to their normal options.  This gave me insight to the information search as well, that online we can broadcast that we have the "newest restaurant at Midtown."

In summary, I see new need awareness and aspects of information search after doing these interviews.  As for need awareness, the big thing for this segment is convenience.  Can they walk to the place? Can they get what they want? Will it be open later/more often than other chicken places? These are the biggest questions for the UF community.  As for information search, there is not a whole lot for a chicken place because it's not something that's sold on the internet, but being able ot advertise the newness of the restaurant can go a long way in advertising and showing up on google as well as being spoken by word of mouth.  People like to try new things.

Idea Napkin No. 1

My name is John Kuebel, and I feel like I have talents that apply to my future business.  I am sociable, I enjoy meeting and reaching out to new people.  I also enjoy public speaking.  One of my most valuable skills is my ability to relate to people.  I'm very much a people person, so I take pride in being able to assimilate with almost anyone.  As for my aspirations, I am not exactly sure what my future holds as of now.  Starting this business would give me a chance to not only serve great food to people, but it will also allow me to place myself into the UF community and connect with students, faculty, and staff.

I am offering chicken to customers who frequent Midtown.  Nowhere at Midtown sells specifically chicken.  I plan to serve a variety of chicken from chicken wings to chicken salad. 

Customers of this restaurant will be any student at UF, anyone who lives in the area, and Gainesville residents in general.  However, these three categories can be broken down in different ways.  UF students who want chicken after a night out, students who study at nearby libraries, and students who work in the area all are potential customers.  Midtown is the most popular off-campus area for students.  The groups have in common that they use Mid in their everyday lives, it's part of their routine. 

Customers will pay us money because they are at midtown for many reasons--studying, drinking, working, living, etc.  Now they will not need to leave Midtown to get quality chicken.  They no longer have to go all the way to Chick-Fil-A, the main competitor of our chicken place.  We will also have better hours.  Convenience will sell our chicken.

What sets us apart from everyone else is that we have the best chicken available for how readily and easily available it is for the UF community.  We have the best location: right at Midtown.  No other chicken place in town has that location.

I believe these aspects of my business fit together well.  They are all centered around convenience and accessibility for students and residents. However, the weakest aspect of the business now is competing with Chick-Fil-A during their hours.

Elevator Pitch

https://youtu.be/_Q4AE9VDJSg

Testing the Hypothesis Pt. 2

In this post I sought out people who may already have the need for a Chicken Restaurant fulfilled and do not need one at Midtown.

Interview 1:  I talked to a friend of mine who lives at the Standard.  He lives close Midtown so he should fit into the group of people whose need a chicken place.  However, he does not because of the Chick-Fil-A at the Standard.  After talking to him about this, I realize that the people around the Standard already have their needs met.  The cause of the need for people who are in the boundary is that they do not have a chicken place around, whereas people by the Standard already have that need identified.  The need can, however, be applied to people at the Standard during late hours and on Sunday when the Chick-Fil-A is closed.

Interview 2: My next interview is a classmate 1who lives at the Nook near Archer.  He goes to Midtown to study, go out, and eat an occasional meal.  He said he would not need a chicken place because he commutes by car to campus, and if he wants chicken, he passes Chick-Fil-A and Zaxby's on his way to and from campus.  The need is different for him; however, if he chooses to go out and would like chicken when he does not have his car, then he would fall inside of the boundary.  The cause for him not meeting the need that I have presented, once again, is location. 

Interview 3:  An important aspect of the need presented is drunk kids being able to get chicken.  However, upon talking to my friend who likes to get food and walk back to his house on Fraternity row, I saw a new perspective of someone who does not meet the need.  He mentions how he likes how the food options currently at Midtown all have foods that are easy to eat while walking--Jimmy Johns, a wrapped up pita, or a slice of pizza--etc.  He said he would not want to get chicken tenders or a large chicken sandwich because they are hard to eat on-the-go.  His cause for not meeting this need is convenience.

Interview 4: The fourth interview came from an employee at Social Midtown, an upscale bar close to the restaurants.  He told me that they have chicken tenders on the menu.  Since he works at Midtown he should fit in the need but he can order chicken from Social if he want to eat chicken.  His underlying cause is the same, he wants to eat chicken, but he can fulfill it differently by ordering food from Social.

Interview 5:  My next interview was my mom.  She fits a tourist's need for chicken when she comes in town.  She said that although having a chicken place would be convenient, she wouldn't need it because she will always have her car when she's here and can drive to a different place if she prefers,  She should fit the need because she likes to stay around campus when she comes in but a chicken place would not necessarily influence her to stay around campus.

Inside the Boundary	Outside the Boundary
Who fits the need: People who do not have cars but can walk to midtown from campus, people who carry out food late night or come from the library, employees who want a place to eat close by.  Anyone who wants food around campus	Who does not fit the need: People who don’t worry about convenience or have a chicken place near where they live or closely accessible by car.
What the need is: Getting chicken close to campus after going out or studying, etc.	What the need isn’t: Providing chicken to all of Gainesville
Why the need exists: There is currently no chicken place at Midtown.  Other chicken places in the area close relatively early an having a new one with late night hours could give a chicken place at Midtown more business.	Alternative Explanations: There are chicken places nearby, but not exactly at midtown in walking distance from the bars.

Through this interview process I see that location and convenience are the two biggest boundaries on this opportunity.

Identifying Opportunities in Economic & Regulatory Trends

1.  The first opportunity lies in a regulatory trend:  The ban on plastic straws
      a. I found this trend because people are complaining about the paper straws and how they don't work as well
     b. The opportunity exists because people do not like these paper straws and need a better option.
     c. the prototypical customer is anyone who lives in a place where paper straws were banned and is fed up using paper straws.
     d.  the opportunity is difficult to exploit because paper straws are better for the environment and and finding something that is better than paper would be tough to create.
    I formed this opportunity because paper straws are more of a hassle to use than plastic, and I have heard people grumble about them.  This may be an opportunity for me and no one else because some people may just accept using them because they are better for the environment, but anyone who wants to use the best straw is probably thinking of an alternative.

2.  The second opportunity comes from the economic trend that happens every year in February that involves people buying specific gifts to show love to their partners/families: starting a service that makes custom Valentine's baskets and delivers them to your partner. 
     a.  I found this trend because Valentine's Day gifts are tough, especially when trying to make your husband/wife/girlfriend/boyfriend happy.  I never know what to get my girlfriend for Valentine's day.
     b.  the opportunity exists because people get Valentine's Day gifts because they have to show love in some way, and that might be hard for some people.
     c. the prototypical customer is anyone who wants to do something special for their other half but is too busy to shop or doesn't know where to start.
     d. the opportunity is difficult to exploit because some people may want to shop around for Valentine's day because the meaning of the holiday is all about love and doing things for your partner.
     I formed this belief because I don't like shopping for Valentine's Day. Having a service that I can customize the basket and have them handle the rest would be very helpful to me.  I feel pressure when getting Val's day gifts and that led me to form this belief and opportunity.

3. The third opportunity comes from a regulatory trend raising the minimum age to buy tobacco from 18 to 21:  Start a service to help those who are affected by the age raise to quit nicotine.
     a.  I found this trend when Alachua county passed this law, and other counties and states are following. 
     b.  The opportunity exists because there are many people out there who are addicted to nicotine but cannot purchase it any longer.
     c.  the prototypical customer is anyone aged 18-20 who now cannot buy nicotine.
     d. the opportunity is difficult to exploit because some people may want to try to get nicotine illegally or get it through other people.
     I formed this belief because I know people who are affected and had no options within the law but to quit.  I believe this opportunity exists because this truly is a health issue, and preaching quitting for your health would convince me, it might not be persuasive enough for those who do not heed the surgeon general's warning.

4.  The final opportunity exists in an economic trend: building high-end gas stations on the borders of Florida
     a. I found this trend when I heard the statistic that 150 people are moving to Florida every day.
     b.  The opportunity exists because lots of people travel into and out of Florida, and having a place like WaWa, which is starting to grow
     c. The prototypical customer is anyone traveling into or out of Florida on a particular day.
     d.  the opportunity is difficult to exploit because this is an idea that other people are picking up on as well.
     I formed this belief because WaWa's are so popular, and Walmart is entering the high-end gas station market.  However, these high end stations are not yet on the borders.  Someone who does not see this as an opportunity would think that competing against WaWa and Walmart is impossible, but not if you build them on the borders faster than the two.