Assignment-29A-Venture Concept #2

Business Name: The Movie Spot

Opportunity: My business opportunity has to involve with the satisfaction and needs of loyal customers who are passionate about the film industry and enjoy going to movie theaters on a good consistent basis. The nature of this need is highly valued in the target of these certain customers. I believe by changes in this environment that follow up in the business opportunity will have a positive impact in terms of the nature of economics. This market is defined as less involved with based off results and statistics that surround this general opportunity. Demographically, it can be viewed as a need for all ages from sixteen years-old and above. No, I don't believe customers are fully satisfying themselves with this need. When they are, it is not meeting their full expectations, which means there is a certain wrench thrown into their solution in wanting to fulfill their unmet need. This opportunity is a very big need in the eyes of the target of customers who have an extreme passion for watching films and this a large sum of people across the map. I think the "window of opportunity" will always be open as long as the film industry is doing well, and I don't think that will disappear.

Innovation: For my idea of innovation in this business opportunity, the product/service I want to highlight and make the most important out of the whole opportunity is the implementation of the customer/membership system that will be free of charge and easy process to sign up for. This will be a huge success for the business in ways of meeting the needs of our customers and making them feel like a "VIP" to the business. This is a very simple process for the customer and there is really no trouble or frustration that will be brought to the customer. Once a customer is locked into the system as a memeber and for each ticket they will buy, their rewards will be based off a point system. For every ticket they purchase, they will be rewarded two points. Two points will equal a concession discount they can cash in on at that station. For every five tickets they purchase, which will equal ten points, this will result in a free movie ticket on a movie of their choice and this is the golden tactic I think will bring in more customers once the word is out about our membership system.

Venture Concept: I believe the main priority in our way of thinking in implementing our innovation method in making the customer important will be exceptionally viewed upon by other customers who are currently not members. What I am trying to say is for example, if a first time customer visits our theater and sees how our members are using their membership cards that treat them well. This is where it will make the non-members not feel apart of something special and this is where we will meet that need by focusing on the innovation and concept of customer satisfaction. Once we make that first time customer apart of the membership on their first experience at our theater, we will be successful in so many ways.

Three Minor Elements:

1.) For the business and it's impact it will have on customers, our most important resource to us that will make it hard for competitors to copy is the risk we are willing to take on the innovation and the product/service idea of membership system and an example of that is the amount of money that will be lost in ticket sales when a member redeems a free ticket on their membership card. Yes, we lost a sale on the face value of a movie ticket, but it will be gained and a profit will rise when that same customer purchases a high amount of snacks and beverages at the concession department because it is the fact we made them feel satisfied that they didn't pay for a movie to where it leads them to the decision in treating themselves with popcorn and soda by hypothetically speaking that were disciplined to save their points on earning a free movie.

2.) The next idea to tackle for the venture would revolve around the narrative of how can our theater be more productive and put ourselves out there for people to notice, but in a sense to where we don't want to be the only theater in town that everyone chooses to got to. I feel like if all of our screen houses inside are sold out for every show, everyday, this will not sit well with our members. To where they have to rush and get to the theater because we become a business based off reservations, and that's not exactly the direction we want to go in.

3.) What I think will be next for me once I get this startup venture off the ground, I would say in five years that I hope to see the theater bring in a large sum of customers/members to where we will have a stable flow and alternative sources of revenue being brought in by not only customers, but by also other friendly businesses in the community. In the next decade as an entrepreneur, I would also say that once this startup venture is off the ground, it has succeeded tremendously, and exceeds our expectations, I would want look at the next venture concept of want to create a couple of more identical theaters in other locations. I don't necessarily want to start a chain like AMC, but that idea is never off the table. I just want to start slow and see how this first venture plays out.

Summary of Feedback: I did not receive any feedback on my first venture concept from any students. I believe if I would have received feedback, it would've been positive and negative. On the positive note, I think people would've been happy with my decision to pass off my startup that hopefully becomes successful off to my kids and then my grandkids in making it become a true family business, and I think people would agree with me that all of the work I put into this venture would not want to be run by someone who is always thinking about the next way to make a quick buck. On the negative side, I think a few classmates would've seen the memberships system become a problem in the way people would abuse the free perks, but then again that is my whole idea behind it. They have to spend money  at the theater to receive those perks and discounts.

What I changed about my second venture concept: For my second venture concept, I honestly didn't change anything about it. Yes, I did not receive feedback from classmates, but I also did not want to make any changes even if I received feedback, because I felt that everything I had set out to do in this venture concept would've been the right path to take, especially the exit strategy and not selling the business. If I had to change anything about this second venture concpet, I guess I would've changed the focus on customer service and turn that focus on the accommodations to the customer in seeking other needs they would want met when they come to the theater. For example, installing a full service bar in the lobby because the majority of customers like to enjoy an alcoholic beverage at the movies, or a separate department room for an arcade because the majority of customers are grown adults with children and they would like to kill some time by playing games with their family. I feel like those ideas would be a successful strategy in wanting to create more revenue for the business.

Assignment-30A-Final Reflection

1.) After reading through all of my posts, there have definitely some moments of drudgery at the beginning of the semester after seeing how many assignments that were required in this course. The middle of the semester was filled of excitement that we were half way done with the class. The end of the semester was filled with the gratitude and emotions of reflecting back on how much effort I've put into the class this semester.

2.) All of the assignments that I have completed have been a formative experience by far. The elevator pitch assignments was something that I'll always remember doing. The experience I am most proud of myself is the accomplishment of reading all three books.

3.) I don't necessarily think I have developed an entrepreneurial mindset, especially now at the end of the semester. Mainly because I have mentioned it countless times that I am not a big risk taker and I don't know if I will get over that fear to become a successful entrepreneur.

4.) If I had to prepare someone who is going to take this class in the future, I would inform them on making every assignment count. Treat the cupcakes as if they were your only quiz, so you're able to focus on the lectures carefully. More importantly, I would tell future students to always remain positive and don't get overwhelmed by the amount of workload in this class.

Assignment-27A-Reading Reflection #3

Steve Jobs by: Walter Isaacson

1) You read about an entrepreneur:

• What surprised you the most?: The thing that surprised me the most about Steve Jobs' is his entire journey of life and all of the events he had experienced. Experimenting with LSD in India, dropping out of college, building one-hundred computers in a month, etc.
• What about the entrepreneur did you most admire?: The thing I admired most about Steve Jobs is the way he handled adversity and failure. This man went through hell and back in trying to be successful. He looked at all of his opportunities as a way to be creative and invent something this world has never seen before. He just wanted to make a difference in this world with his own inventions. He valued the aspect of success to the highest level and he wouldn't stop until he had reached that level.
• What about the entrepreneur did you least admire?: The thing about Steve Jobs' that I least admired is the way he treated his team of employees. They all wanted to reach the same results of success, but I think Jobs' wanted it more than anyone and he wasn't going to rest until he got the results he envisioned. 
• Did the entrepreneur encounter adversity and failure? If so, what did they do about it?: Jobs' had surely encoutnered adversity and failure when he dropped out of college, he was fired from Apple in 1985, and his "NeXT" computer project not doing so well. Jobs' still continued to take risks and look for new opportunities to make a difference in the world by investing in Pixar, rejoining and saving the company of Apple with his help of brilliant moves such as coming to a deal with Microsoft to implement the Microsoft Office program into the Mac.

2) What competencies did you notice that the entrepreneur exhibited: The competencies I've noticed that the entrepreneur exhibited is the fact that practice makes perfect. Jobs' was an extremely motivated hard worker and he wouldn't accept results if they were mediocre. He wanted the closest thing to perfection.

3) Identify at least one part of the reading that was confusing to you: One part of the reading that was confusing to me was the fact that Jobs' lost a fortune from the "NeXT" company that he invested a lot of time and effort into after he had just recently been fired from Apple. BuT, going back to the confusing part is that I don't understand why he quickly bought a share of Pixar and invested a percentage into Pixar after all of those failures. 

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?: If I were able to ask Steve Jobs two questions, my first question would be, "Why didn't you give Steve Wozniak the credit he deserved?" And my second question would be, "What was the hardest thing you've experienced in your life? Whether it was business failures, personal life matters, etc. Even though these seem like obvious questions to ask a guy like Steve Jobs, I would ask Jobs these two questions because I feel like he would give me an answer I need to hear when it comes to the concpets of success, failure, personal relationships, and how hard it can be to manage all of these when life doesn't deal you a good hand.

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion: I think Steve Jobs' opinion of hard work is again, the notion of practicing perfection of his art. He seems like he was a big perfectionist and it bothered him if there was something about his creation or product that didn't look right in his eye.

Assignment-28A-Your Exit Strategy

1) Identify the exit strategy you plan to make: If my startup were to turn out successful in the beginning years and for a good amount of time past that, I honestly would keep examining how the business does for say, twenty years. If business is still booming by that time in the future, then I would prepare to pass down the business to my children if they want to take on this responsibility.

2) Why have you selected this particular exit strategy: I picked this particular exit strategy for my venture mainly because I would hate to see the business ran by a greedy individual who only thinks about how the business will come up with another way to make a buck the next day. If my children were to take on the business then I know it will be in good hands of how the place will be run when I'm retired and gone.

3) How do you think your exit strategy has influenced the other decisions you've made in your concept: My exit strategy has definitely influenced other decisions made in my concept in the ways of how I plan to execute this venture and manage my time while pursuing this project. I don't think it necessarily has influenced the way I've discovered opportunities for this idea, but it sure has influenced my growth intentions for wanting to see the business have a positive impact before making a decision on what to do with the business in the future.

Assignment-26A-Celebrating Failure

1) Tell us about a time this past semester that you failed: If I have to recall failing at a point in this past semester, especially for this class, I would have to say that I was on a trend of doing well on the cupcake quizzes. Then there was the week after spring break and I did not do well at all on the cupcake and I was pretty disappointed.

2) Tell us what you learned from it: What I learned from this failure is that I got out of sync from being on a schedule/rhythm of completing assignments, watching lectures, and then taking the quiz. For this particular week, I waited literally until the morning of the due date to watch the lectures and take the cupcake thirty minutes before noon. So with that being said, I learned that I can wait until the last minute of the due date to watch lectures for the cupcake and expect to have a positive result. 

3) Reflect: What I would say about the biggest meaning about failure is that it's all about how you handle it after the matter. You have to be honest and ask yourself, "Am I going to settle for this, or am I going to change something about myself to where I can be successful?" This class has changed my perspective on failure in the way that I can't control what life brings my way, mostly in regards to the amount of work that is assigned for this class, completing week after week, and having to manage that with other classes. I guess you could say in some sense that I am more willing to take a risk in this class, but I don't know about pursuing my own startup.

Assignment-24A-Venture Concept #1

Business Name: The Movie Spot
Opportunity: My business opportunity has to involve with the satisfaction and needs of loyal customers who are passionate about the film industry and enjoy going to movie theaters on a good consistent basis. The nature of this need is highly valued in the target of these certain customers. I believe by changes in this environment that follow up in the business opportunity will have a positive impact in terms of the nature of economics. This market is defined as less involved with based off results and statistics that surround this general opportunity. Demographically, it can be viewed as a need for all ages from sixteen years-old and above. No, I don't believe customers are fully satisfying themselves with this need. When they are, it is not meeting their full expectations, which means there is a certain wrench thrown into their solution in wanting to fulfill their unmet need. This opportunity is a very big need in the eyes of the target of customers who have an extreme passion for watching films and this a large sum of people across the map. I think the "window of opportunity" will always be open as long as the film industry is doing well, and I don't think that will disappear.

Innovation: For my idea of innovation in this business opportunity, the product/service I want to highlight and make the most important out of the whole opportunity is the implementation of the customer/membership system that will be free of charge and easy process to sign up for. This will be a huge success for the business in ways of meeting the needs of our customers and making them feel like a "VIP" to the business. This is a very simple process for the customer and there is really no trouble or frustration that will be brought to the customer. Once a customer is locked into the system as a memeber and for each ticket they will buy, their rewards will be based off a point system. For every ticket they purchase, they will be rewarded two points. Two points will equal a concession discount they can cash in on at that station. For every five tickets they purchase, which will equal ten points, this will result in a free movie ticket on a movie of their choice and this is the golden tactic I think will bring in more customers once the word is out about our membership system.

Venture Concept: I believe the main priority in our way of thinking in implementing our innovation method in making the customer important will be exceptionally viewed upon by other customers who are currently not members. What I am trying to say is for example, if a first time customer visits our theater and sees how our members are using their membership cards that treat them well. This is where it will make the non-members not feel apart of something special and this is where we will meet that need by focusing on the innovation and concept of customer satisfaction. Once we make that first time customer apart of the membership on their first experience at our theater, we will be successful in so many ways.

Three Minor Elements:
1.) For the business and it's impact it will have on customers, our most important resource to us that will make it hard for competitors to copy is the risk we are willing to take on the innovation and the product/service idea of membership system and an example of that is the amount of money that will be lost in ticket sales when a member redeems a free ticket on their membership card. Yes, we lost a sale on the face value of a movie ticket, but it will be gained and a profit will rise when that same customer purchases a high amount of snacks and beverages at the concession department because it is the fact we made them feel satisfied that they didn't pay for a movie to where it leads them to the decision in treating themselves with popcorn and soda by hypothetically speaking that were disciplined to save their points on earning a free movie.

2.) The next idea to tackle for the venture would revolve around the narrative of how can our theater be more productive and put ourselves out there for people to notice, but in a sense to where we don't want to be the only theater in town that everyone chooses to got to. I feel like if all of our screen houses inside are sold out for every show, everyday, this will not sit well with our members. To where they have to rush and get to the theater because we become a business based off reservations, and that's not exactly the direction we want to go in.

3.) What I think will be next for me once I get this startup venture off the ground, I would say in five years that I hope to see the theater bring in a large sum of customers/members to where we will have a stable flow and alternative sources of revenue being brought in by not only customers, but by also other friendly businesses in the community. In the next decade as an entrepreneur, I would also say that once this startup venture is off the ground, it has succeeded tremendously, and exceeds our expectations, I would want look at the next venture concept of want to create a couple of more identical theaters in other locations. I don't necessarily want to start a chain like AMC, but that idea is never off the table. I just want to start slow and see how this first venture plays out.

Assignment-25A-What's Next?

Existing Market: With my business opportunity in it's existing market, I believe the products and services that go into it will stay the same, and then there will be some changes in terms of how these products and services will be displayed and used for customers, especially with my business startup occuring in the movie theater industry.

Interviews: With the interview process being cancelled for the remainder of the semester and reading over the details of this assignment and what it requires from the interviewee, I think if I were to summarize this process of the assignment based off the feedback I've gotten from past prototypical customers, some of the answers I would consume from prototypical customers is that I would always have to adapt the customer's preference just like in most businesses. But, in dealing with the movie theater industry, the customer side of this business can be the hardest part of in this industry and if you don't adapt to the customer's preferences, you can expect to see some decline in revenue. These preferences would be the adjustments to minor recommendations from customer segments such as customer service, hospitality, entertainment, etc.

Reflection:Based on my own expectations and the feedback I've gotten from previous customers, the biggest thing that from my venture that makes the most sense is the idea of is the execution of a consistent and professional reltaionship with the customers. So like I said before, the customer segment is huge for the opportunity and I wanted to have a strong focus on making sure the customer is taken care of before the needs of our own as a business.

New Market: With the evolution and dramatic advancement in technology, I think targeting a B2C market in a poor part of society will definitely be a struggle in making an effort to continue to supply and support our customers to their demands with a scarce amount of resources these individuals will have.

Now that I have identified a different market in a different view of society, I still think the most pivotal segment of my venture concept is the idea of this membership system I want to implement to make all customer feel like they belong and are valued on a pedestal to make our business more unique than others in the industry.

Interviews: To summarize this part of the interview process for this concept, some of the kind of adaptions to the products/services mix I think I should make in order to be successful is that I think the prototypical customer would come up with a certain amount of questions based on their agenda of what they experienced from the last visit, especially if it comes to a certain product or service will be important for the business to have those answers prepared, or to at least consider these suggestions of the customer.

Reflection: There were definitely some good takeaways in targeting this new market and new vision of a different part of society to where it was important to consider different circumstances or situations that could possibly have a dramatic effect on my business opportunity. Some of my exepectations/assumptions were somewhat correct in the customer segment.
This new market, on second thought didn't appear to be as attractive as I thought, but as I went onto explain how much value that the customer perspective has on the business opportunity could still have the same impact just as much as the existing market would.

Assignment-23A-What's Your Unfair Advantage?

1.) Soft Skills
- Valuable: Soft skills are crucially valuable in the viewpoint of customers.
- Rare: In most businesses it is not rare and more of a rule, but it is overlooked by some.
- Inimitable: No, I believe it is performed in different versions of practices in the business world.
-Non-Substitutable: Soft skills are very essential and a necessity when dealing with customers.

2.) Hospitality

- Valuable: This is a very valuable resource in the movie theater industry and it might be the only key ingredient in retaining customers.

- Rare: In some cases it can be, but shouldn't be when running a movie theater.

- Inimitable: Yes, although this resource is not valued as much as it should be 

-Non-Substitutable: This resource absolutely cannot be substitutable in the movie theater industry.

3.) Creativity

- Valuable: Creativity is most of the time valuable, but can break a business is an idea of creativity backfires.

- Rare: No, many individuals in charge of a business are creative, but it's the way they plan to be creative in regards to success.

- Inimitable: Creativity is used in all sorts of ways from standing out from other businesses, but creativity can be copied by other business in how effective and efficient it works for the original creator.

-Non-Substitutable: No, I don't think this is a substitutable resource. It's more of a decision.

4.) Strong Work Ethic

- Valuable: Anytime you acquire and display a strong work ethic, you eventually receive a 

- Rare: Yes, it can be if you don't expect it from yourself or your business partners.

- Inimitable: No, this resource cannot be measured, but only recognized by results most of the time.

-Non-Substitutable: No, this resource is hard to substitute when trying to make a business succeed unless you rely on luck.

5.) Experience

- Valuable: Any experience in the same field of the industry is certainly valuable over someone who does not have any experience at all.

- Rare: Yes, experience can put you over the top in simple terms of knowing what to do and what not to do in certain situations.

- Inimitable: Yes, but different experiences can result in different solutions to a certain problem with the business.

-Non-Substitutable: No, you cannot substitute this resource with someone who basically does not retain this.

6.) Knowledge

- Valuable: This resource can be valuable when you know a how certain aspect succeeds and fails in the business based off prior knowledge.

- Rare: Yes, especially when you retain and use this resource to the best of your ability.

- Inimitable: Yes, but not everyone uses this resource to the best of their advantage.

-Non-Substitutable: No, I don't think everyone has the same exact sense of knowledge and makes the same judgement towards a business decision.  

7.) Connections

- Valuable: Having connections with the right people in the same industry can be very valuable.

- Rare: I absolutely think that this resource is rare when you need suggestions on what you can do for your business startup to succeed.

- Inimitable: No, a connection is usually a prestigious relationship.

-Non-Substitutable: I don't believe this resource can be substitutable. 

8.) Competitive Attitude

- Valuable: Having this resource can be valuable for a business in the nature of wanting to succeed consistently.

- Rare: It can be when you're always looking for a route to make your business more of a juggernaut compared to competitors.

- Inimitable: yes, but not measured.

-Non-Substitutable: No, this is a type of tenacity that makes a business so special. Especially sometimes for customers.

9.) Goal Achiever

- Valuable: Yes, this is a motive that every person involved in a startup should have.

- Rare: Yes, this resource is usually valued but not performed too well.

- Inimitable: Yes, but not always.

-Non-Substitutable: It can be substitutable in the ways people view their goals for their startups.

10.) Adaptive

- Valuable: Being able to adapt to any circumstance or situation at a certain crucial point for a business can be more valuable than people think.

- Rare: Some business policies and ways of running things are set in stone from the beginning of the startup and some businesses adapt, so in a way it can be rare.

- Inimitable: No, adaptability is not imitable. I believe it is a level of practice.

-Non-Substitutable: I don't believe this sort of action can be substitutable. 

The top resource I obtain and is most important to my venture is the connections resource. I think having that ability to go back to colleagues you've shared a relationship with and for them to help you out in a startup gives my business an advantage over other competitors.

Assignment-21A-Reading Reflection #2

How To Fail At Almost Everything and Still Win Big
by Scott Adams

1) What was the general theme or argument of the book?
I think the general theme or argument of this book is somewhat obvious that it's bolded in the title. That's the idea of failure and how it can bring the best and worst out of someone who is wanting to chase their dreams or take risks in life that propels them to where they want to be in life. Self-happiness was another theme I got out of reading this book and I was quite surprised of how fully into depth Adams goes into on this concept in his book. Adams is a big supporter on the value of general happiness over riches. What I liked the best out of Adams' approach on being successful is that he strictly nails down the main point of success in the workforce and that is everybody should want work in something that gets them right out of bed in the morning with no dreading or sighing. 


2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003? This book in my opinion connects with and enhances the concepts of learning on "how to celebrate failure" for assignment 26A in module fourteen of ENT 3003. I know we haven't got to that point yet in the class, but by looking ahead of all of the assignments we had for this class and reading the detailed description assignment 26A had to offer, really opened my eyes about how this book ties into that segment. Reading Scott Adams' book reached out to me, as I found his philosophy interesting in celebrating and handling failure to be all up to the individual who is seeking success, and how they handle it can tell a lot about that person. In the book, I like Adams' quote on handling failure and seeking success, "Successful people don't wish for success, they pursue it." 


3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve? If I had to develop an exercise for this class based off the book I just read, the exercise would specifically include one exercise in the first couple weeks of class and this is kind of like the bug list assignment, but students would list ten things that mean most to them in their life just wanting to be a successful person. The second part of this assignment would be in the middle of the semester of the ten things students want most out of being a successful entrepreneur. The last part of this exercise I would ask students how both lists and the importance of each item will intervene with the entrepreneur side of you and also affect your personal/social life.


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 or aha moment I got out of reading this book is that Scott Adams seemed to generate the perfect entrepreneur behavior in having to pursue so many ideas in startups and continually fail. I never really had a good idea on the type of tenacity that can be developed by a entrepreneur and Adams showed that by not changing anything about him when he was failing time after time. Instead he knew that success would be secured one day for him and he wouldn't change anything about him, his daily routine, overall interests, or mainly change himself to find success in a startup opportunity. 

Assignment-22A-Elevator Pitch #3

1) The pitch: https://youtu.be/aP1ieL3XsQw 


2) A reflection on the feedback you received from your last pitch: Honestly, I didn't receive any feedback on my second elevator pitch, but I noticed personally that I didn't do a great job of providing a fluent speech of presenting my opportunity. This includes some stuttering and not good eye contact. I tried to eliminate non-verbal distractions, but to me it's somewhat of a habit to explain words with hand movements. I think if I did receive any feedback from classmates, they would most likely cover these little hiccups in my second attempt.

3) What did you change, based on the feedback: I wanted to focus more on providing my message on a much clearer basis and get straight to the point of what my business opportunity is about. I also tried to keep a good amount of energy and get the audience hooked right away. Eye contact was also a big key for me on this last try. Also not using so much hand movement and non-verbal distractions, I think made my last attempt go a lot better. 

Assignment-20A-Growing Your Social Capital

1) One person must be a domain expert in your industry: Johnny - ( Early 50's - Full-Time worker   - College graduate )

• Who they are and what their background is: Johnny is a current manager at a movie theater close to my hometown. He has been a close family friend to my parents. He went to The Citadel and majored in business administration.
• Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot: Johnny is filling in the slot of the domain expert and he fills this role by already having experience and authority from his career in the choice of business I plan to proceed with.
• A description of how you found the person and contacted the person: He has always been a close family friend and he was only a phone call away to get some useful information about how he runs a theater.
• The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation: The nature of the conversation was very friendly. I asked him for a favor and for some feedback that relates to his career for my school project and he agreed to help me out. The return expectation maybe a favor for him down the road, but knowing Johnny, a simple thank you might be the only return expectation he would be looking for.
• How will including this person in your network enhance your ability to exploit an opportunity: Including Johnny for my network will definitely enhance my ability to exploit an opportunity because that is a tie to a professional in the same industry and his experience lead me toward the right direction in what I want to do for my theater.

2) One person must be an expert on your market: Jesus (HEY-zeus) ( Late 40's - Full-Time worker - College graduate )

• Who they are and what their background is: Jesus is a marketing rep for a movie theater that one of my friends use to work at. Jesus has been working for this movie theater since he graduated from UCF where he majored in educational technologies.
• Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot: Jesus is filling the slot of the marketing expert. Jesus fills the position by his current work in the career he is in at the movie theater.
• A description of how you found the person and contacted the person: I was stuck on the marketing expert section for a while because I had no contacts or even an idea of someone to fill this spot. I called a friend of mine from community college and he said there was a guy named Jesus who was a marketing rep and gave me his information. I contacted him letting him know that I got his information from an employee and was strictly calling for advice in regards for a school project.
• The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation: The nature of the exchange went very well and it was quite professional. He did a favor by helping me understand the terms of marketing in the ways a movie theater does things to succeed. The return expectation may be future help with his career or a possible negotiation if my business opportunity goes according to plan in the future.
• How will including this person in your network enhance your ability to exploit an opportunity: Including Jesus in my network will enhance my ability to exploit an opportunity in the movie theater industry to where I can recognize specific marketing tactics that any movie theater may use to attract customers.

3) One person must be an important supplier to your industry: Antwon ( Early 30's - Full-Time worker - High School graduate )

• Who they are and what their background is: Antwon is a full-time truck driver for a food vendor supply company and consistently stops at numerous movie theaters in the state of Florida. Antwon was a good friend of mine in high school and never had any aspirations to go to college, but knew he had to work if he wanted to make it okay in this world.
• Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot: Antwon is filling the slot of the supplier in the way he makes deliveries to the type of business I want to pursue. 
• A description of how you found the person and contacted the person: Antwon has always been in my contacts on my cell phone and active on social media since high school. It was easy to reach out to him and pick his mind about some things on my business/opportunity and it was definitely something he didn't expect to hear from me about.
• The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation: The nature of the conversation was pretty easygoing and Antwon for the most part gave me his opinion on the way things are being ran at a movie theater nowadays and how things are constantly changing to adapt around the new age of customers. The return expectation might be future business with his company and also access to my movie theater down the road.
• How will including this person in your network enhance your ability to exploit an opportunity: With Antwon working in the truck delivery industry and including him in my network, he will surely enhance my ability to exploit an opportunity based off his opinions and experiences in working with movie theaters. More specifically the concessions concept of the theater.

Reflection: This experience absolutely gave me a good idea of how networking goes on in the business world. I think it was a good experience and provided me with good exposure of what to expect in future networking events. This certain networking experience differed from past ones because in the past I wasn't making connections for a school project. I was more in ways of trying to seek a job rather than a future investor/partner. 

Assignment-19A-Idea Napkin #2

1) You: Being a young college student, I know I obtain strong characteristics and certain set of skills to be a good entrepreneur. The experiences and social skills I hold with me from working in a movie theater will make a difference in my journey of entrepreneurship. My aspirations in starting my own movie theater business is to just take a risk in my life for once in a while and like I said from working in a movie theater, I have seen the ways certain things are run and I believe if I did things differently, I could end up seeing success in those certain changes of the business.

2) What are you offering to customers: I am offering my customers a rich and traditional movie theater experience that includes a cheaper cost in tickets and concession. Rewards, discounts, comfortability, and an overall good attitude in offering our service to them.

3) Who are you offering it to: I am offering my service to obvious movie lovers, teenagers who are looking for a cheap and lifetime full of good memories. I am also offering my service to husbands and wives who have a big family, as we want to be a family friendly theater for the most part.

4) Why do they care: I believe these different group of people enjoy their experiences and times spent with others at a movie theater. But, most importantly if they realize it's very affordable, that would only start a trend of coming back for more visits and spreading the word out to their friends, family, and community.

5) What are your core competencies: The core competencies that my movie theater business will offer and take very serious is the ability to offer solid customer service and hospitality to all customers no matter the situation. I still think the customer membership system I plan to install as part of the business will give us an edge over other competitors.

I truly believe that all five of these elements fit together to make a successful business. The customer segment is what makes our business thrive. The business relies on all sorts of customers so it's important in the movie theater business to apply strong soft/social skills to customers. That's why I think the customer membership system is what will win them over to attract future revenue from future visits to where it's a reliable relationship between my business and the customer in the way they receive rewards and discounts from how many times they put money into the theater.

Feedback Summary: Two main points I took away from the feedback memo from my first napkin idea is that I wanted to a better job in identifying what I was trying to emphasize as to what would make my business successful, in that case it was the customer segment. The second point was to make better sense in how these five elements molded together and in that circumstance it was how the relationship with customers makes sense with all five elements together.

Assignment - 17A - Elevator Pitch #2

1) The pitch:     https://youtu.be/yVU-ATgCOm8      
 






2) A reflection on the feedback you received from your last pitch & 3) What did you change, based on the feedback?
  Some of the feedback from my last elevator pitch helped me in some ways and there were some things I tended to stick with in my second attempt in this assignment. Some suggestions that surprised me and I didn't even realize were the amount of hand gestures I displayed in my first elevator pitch. So I kept it in my mind to prepare to not use my hand movements as much while explaining my pitch, so for the entire video I kept my hands in the pockets of my coat to contain myself and not make it so distracting for viewers. I don't think I did a good job of delivering the message as clear as I wanted to, but my main goal was to not be so much distractive, for example with my hand gestures. Hopefully I can master the tone and smoothness of my speech to deliver a professional elevator pitch for the third attempt of this assignment.

Assignment - 18A - Creating a Customer Avatar

( Above is my created avatar from the link of the assignment instructions. )

( I don't know why his eye color is different from one another. )

   

I believe the picture presented above is my prototypical customer for my proposal of taking part in the business of the movie theater industry. The kind of hobbies my customer participates in besides watching movies, is playing a round of eighteen on the golf course, playing cards with his friends over the weekends, or he might even just enjoy reading a book while sitting on the beach. The car I could imagine that they would drive would be a silver Mercury Grand Marquis. I would think the type of TV shows they would include reruns "The Office", "Cheers", and maybe some "LivePD". My prototypical customer has a few children that are grown up and have a child of their own. I'm not sure if their children are adopted, but it's a possibility. Some of their favorite books would include biographies or autobiographies on their favorite celebrities or professional athletes. I believe some of my customer's favorite politicians would include Donald Trump and Bill Clinton. If I had to guess my prototypical customer's age, I would say mid, late sixties. I think they feel old enough to talk about how spectacular Marlon Brando was back in the day during his acting career.

Some of the things I would have in common with my prototypical customer is obviously our deep interest in the film industry. But also share interest in sports, both pro and college, and maybe politics depending on the interaction. I don't necessarily think it's a coincidence to have specific things in common with my prototypical customer because most males that enjoy going to the movies also enjoy other entertainment such as sports, politics, TV, etc.

Assignment- 15A - Figuring Out Buyer Behavior No. 2

Steps 1-3: Interviewee #1 ( Jarvis- Male, Early 20's, Part-Time student, Full-Time worker ) : Throughout the interview I asked him the essential questions of what was most important to him when he thinks of planning a day/night to go see a movie at the theater. For example, "Is price the most pivotal factor for you when deciding to see a movie at the theater." Jarvis replied, "It's usually the first thing that comes to mind when I choose a movie theater location and that question is, "Who has the cheapest price?" Another question I asked was, "Does the quality of the theater, (style, size of each house, seating, etc.) make it more appealing for you to go to compared to others?" Jarvis said, "Sometimes it can be a decisive factor more than often. If the tickets are cheap, but the theater is not kept up and presented well, I will usually not come back to it unless I am very desperate."

Interviewee #2 (Aleanna- Female, Late 20's, Full-Time student, Part-Time waitress) : In my interview with Aleanna, I stuck to the same questions I previously asked Jarvis about what was the most pivotal factor in making a decision to see a movie at the theater. Aleanna said, "To me, it is the expense of the overall that makes the experience worth it." I went on to ask her, "If prices were raised and stayed at a consistent rate, what would be your next factor to choose a place to see a movie at the theater?" Aleanna stated, "That's easy, it would be the hospitality and the welcoming of how the theater makes you feel when you first purchase your ticket."

Interviewee #3: (Harold- Male, retired) : My interview with Harold was pretty short, but he was able to give me some good pieces of data. I stuck to the same route of questions in asking Harold. I asked him, "what is the one thing that gets you hooked into to a movie theater that makes you want to come back?" Harold replied,"The price. Whenever I get a good ang for my buck, I am instantly a fan." I went onto ask him if he ever had a preference on what he thought of the overall cleanliness of a theater and how that can disturb him during the experience, regardless of the inexpensive ticket price." Harold simply said, "It doesn't bother too much. When I go to see a movie, I'm there for a few hours to sit in a seat, watch my film, and leave. I try not to pay attention too much to those sort of details."

Step 4: How/where do they buy?: For all of my interviewee's and for my audience of customers, there is alternative ways to purchase tickets. They're able to buy movie tickets at the theater personally. Some other ways would be online through movie associated websites (EX: Fandango) and mobile subscription apps (EX: MoviePass). Transactions at the theater can be payed in cash and card. Through the online service transactions, there is usually a payment method that acessess a credit/debit card.

Step 5: Post-purchase evaluation: All three of my interviewee's Jarvis, Aleanna, and Harold believe the price has to be right in order to have that fulfillment of a successful post-purchase mindset. Jarvis and Aleanna think that overpaying for a movie ticket can make them think the purchase was a bad idea, regardless of how anticipated the movie was. Harold

Step 6: Report the findings: I believe that every person I interviewed provided honest answers and feelings. I was able to find some very useful information that helps me understand the customer segment for my plan to open my own movie theater business.

Step 7: Draw Conclusions: Based off my interviews, the most important concepts I have learned in terms of alternative evaluation, purchase decision, and post-purchase evaluation does not represent  the people I interviewed for this assignment, but a vast majority of the people I have interviewed so far is that their decision is all surrounded by the subject of how expensive or cheap the cost is.