Wednesday, March 30, 2016

Venture Concept No 1

Being a vegetarian is very easy until I go out with my family and friends to eat. I sometimes even bring my own food. I knew that there must be others out there who face this issue and so my business concept is one where it’s beneficial to the environment and to people.
I want to present the idea of a vegan friendly restaurant but that is also friendly to people who still eat animal products (milk, eggs, honey). I understand that this phrase may come as a surprise but I want to give my customers a lot of variability. Many people believe that a vegan diet is restricting and boring but I believe quite the opposite, and I want to culture this idea into my restaurant.  This restaurant will have a soy substitute for any entree. Soybeans are a species of legumes that contain as much protein as red or white meat. This is an argument that has been going on for so long “Many opponents of a vegetarian diet say that meat consumption is healthful and humane, and that producing vegetables causes many of the same environmental problems as producing meat. They also argue that humans have been eating and enjoying meat for 2.3 million years“ I believe that when my customer’s people are given the option to eat something healthy (and still delicious) they may opt in for that option. I believe with this statement “In Western culture vegetarianism dates back to Ancient Greece. The mathematician Pythagoras (570 BC - 495 BC) advocated vegetarianism; a meatless diet was commonly called the "Pythagorean diet" until the term vegetarian became popular during the 1800s. [120] The philosopher Plato (428 BC - 348 BC) described a vegetarian diet as "divinely ordained."
“ I also want to open a bodega in the front of the restaurant so people can buy vegan snacks, produce, and any other kind of healthy and affordable food that they may not find at a grocery store. This way, I would get two kinds of business, people who want to buy food very quickly, and people who want to sit down and have table service. My important resource or “secret sauce” is that I have the knowledge of how to open a business already. I have created a few successful businesses and I have the drive to do it again. I also know a lot about nutrition and overall health of the human body. I know what it healthy and what kinds of foods will help with any kind of issue a person may have. For example, I know what a person should eat if they want lose weight, what they should eat if they want to grow their long. I myself have lost 15 pounds in a healthy way following a vegan diet and am very happy with the way I feel. I want my customers to know how amazing it feels to not eat animals or animal products. The length that this window will be open is large due to the fact that more and more people are switching to veganism or vegetarianism. There are some areas in the worlds where most people are vegetarian (Northern India for example) and also some areas in the United States where there are a lot more vegetarians than others. San Francisco and the Bay Area in California is notorious for they’re healthy eating habits, but Austin Texas is a place filled with avid meat-eaters. If I open my restaurant, it would need to be in area where I know it would get good business, not in a place where people love barbeque. A 2012 Gallup poll found that approximately 5% of Americans (15,695,702 people) considered themselves to be vegetarian, and 2% (6,278,281 people) considered themselves to be vegan. [127] Total US meat consumption in 2012 was estimated to be 165.9 pounds per person—18.1 pounds fewer than the 2004 high of 184 pounds per person[126]
 What’s next for this venture I think would be to make a menu, hire staff, and find a chef who can create what I envision for this restaurant. I need to find a realtor who can find me a good location for my restaurant in an area where people are health conscience. I also need to find a good produce man to deliver fresh produce each day, as each meal is vegetable based. The next opportunity I want to tackle with my current innovation is to make the logo and over all design concept for the restaurant. Ambience is everything for if a restaurant fails or succeeds. It needs to be a place where people want to go, and not where people would go. People would want to have the need to instagram/facebook share the food provided to them so theyre friends would go aswell. Another way of creating a large customer base is to hire someone to instagram a plate of your food and when they geo-tag it will create a lot of buzz for the restaurant. Many places such as doughnut shops, milkshake restaurants and bars are exploding due to this strategy that there are lines of a 100 people for a place that only has 8 tables inside.  I really hope to open this restaurant in hopes that it will inspire others to become vegetarian, even if it means only eating meat a few days a week rather than everyday. By not supporting the meat industry, the entire environment and human race will be healthier and happy.

The feedback from my last attempt at this venture was very helpful. Someone who commented also ended up being a vegetarian and told me that they appreciate the idea of a veggie friendly. Other commenters understood why I was doing it, but are meat eaters so I don’t think they could see why not eating animals is important. What I changed in my pitch was that I am going to also have a bodega in the restaurant with a small cafeteria for people who do not want to have a sit down meal. 

Sunday, March 27, 2016

Week 11 Reading Reflection

I very much enjoyed this weeks assigned reading and found it to be very enlightening. A few things that stood out to me in the articlewere the ideas about needing an innovation strategy. I agreed that this idea is  extremely important, especially since my minor is in Innovation. These lessons are vital for any starting entrepreneur. 
I found it surprising that not many people know how important the innovation and entreprenuership is to the world. The article talks about how entrepreneurs need alot of venture capital to start a new business and its important to keep an eye on your investment, but to not lose focus on the main goal.
I was confused by the cornings approach: years of innovation.  I did not go over that in any of my classes. I only understood the gist but I feel the author could have done a better way of explaining this innovaition view. I think what made it confusing was all of the business jargon used. I would ask the author to give some more examples of real life entrepreneurs when they explained the entrepreneural revolution and give specific companies. It spoke more on a macro level and I would have preferred for it to be explained in a micro level.
I felt that the author did alot of research for the text and is very well informed. I did not disagree with any of the information he provided but I was confused at some points during my reading

The Amazon Whisperer

  • Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 
Angel investors, people buying my product, bank loans are different revenue drivers. Also partnering with another company to sell each others product.
  • Describe what kind of product offering you believe should be next. What's the next thing your customers want?
The next thing I believe my customers want is a food delivery service that brings homemade vegetarian meals to your door, not something you have to microwave.
  • Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
I believe that this will enhance my current service offering because it will allow people to try my food without leaving their homes. It fosters my business to infiltrate the homes of regular people.
  • Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.
Beef Bourguignon with Mashed Potatoes and Herbed Green Beans by Chef'd (Dinner for 2)This product is like mine in that it delivers food to your home but it looks very unhealthy and is also not vegetarian or vegan.
http://www.amazon.com/Bourguignon-Mashed-Potatoes-Herbed-Chefd/dp/B00YYP4E6I/ref=sr_1_3_a_it?ie=UTF8&qid=1459103964&sr=8-3&keywords=food+delivery
  • What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
Customers rate it 4/5 stars, which is pretty good. The negative review says that you have to cook everything separately and it takes over an hour to prepare. The good reviews state that its delicious.
  • Describe what design/usability changes you'd make to the product. 
I would make it into a more sustainable container, not plastic wrapped.
  • Describe why you think this product would make a good addition to your current product/service offering.
I dont think it would make the best addition since its not vegan or vegetarian.

Wednesday, March 23, 2016

My Unfair Advantages

10 resources  I already posses

1. large amount of financial capital 
-money is very important when starting a business. I am fortunate enough to have enough to start something if I wanted to.
2. Will attain a business degree from an amazing university
education is the key to success. With my education I have the upper hand in any field I decide to enter.
3. This degree will help me take out bank loans if needed
Banks mainly give out loans to people who have degrees, if I need more financial capital, it will be easy to take out a loan.
4. support from my family
Family support is very important to me when I doubt myself.
5. A creative mind useful for business ventures
I am able to invent new ideas to bring into the market.
6. Advisors at my college who can answer questions I have
There are many educated and experienced people around me who are willing to help.
7. Previous bosses who are entrepreneurs who can mentor me
My ex-bosses know everything on starting a new business and I left my job on good terms.
8.  experience working in startup companies
This experience taught me alot about the hardships entrepreneurs face and I think I am more ready now.
9. Graphic design and marketing skills
I know how to do graphic design for marketing, which will increase my brand awareness
10. photography skills
I know how to use a professional camera, useful for any photo ops I would need to do.

I think the most important advantage I have is my education. I am a business major and am constantly immersed in the world of business and business lessons. My degree is from an amazing college and I am fortunate to be able to attain it. 

Sunday, March 20, 2016

Week 10 Reading Reflection



I very much enjoyed this weeks assigned reading and found it to be very enlightening. A few things that stood out to me in the text were the ideas about financial statements. I agreed that these documents are extremely important, especially after I took accounting last semester. These lessons are vital for any starting entrepreneur. 
I found it surprising that not many people know how important the basics of accounting is and that book keeping is essential for financial standings. All entrepreneurs need alot of venture capital to start a new business and its important to keep an eye on your investment. I
I was confused by the vertical and horizontal ratio analysis views of accounting. I did not go over that in any of my classes. 
I only understood the gist but I feel the author could have done a better way of explaining this accounting method. I think what made it confusing was all of the business jargon used. I would ask the author to give some more examples of real life entrepreneurs when they explained the entrepreneural revolution and give specific companies. It spoke more on a macro level and I would have preferred for it to be explained in a micro level.
I felt that the author did alot of research for the text and is very well informed. I did not disagree with any of the information he provided but I was confused at some points during my reading

Growing My Social Capital

1) Who they are and what their background is.
Person 1:
This person is the owner of the very hotspot in Gainesville, Karma Kreme. This is an ice cream/restaurant that has many vegan options if it is not predominantly vegan. This is vital for my future business since it is going to be biased on a vegan diet. The owner, Kyle is very eco-conscience and his restaurant is just that. 
Person 2: I met a Vegan who knows all about the dangers that the dairy and meat industry bring to the environment and world. His name is Chuck and he explained to me benefits of a vegan diet that I didn't already know about. Such as that vegans are thousand times less likely to generate heart disease, obesity, and have better circulation.
Person 3: The Krishna House has a very large role for vegetarians and vegans on UF campus, offering healthy lunches every weekday. The best supplier is to be your own supplier. Starting from scratch.
2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Person 1: Domain expert, since he already has a famous restaurant in an essential part of town
Person 2: People Expert: knows how to make delicious and healthy food that people would enjoy
Person 3: Market Expert: Extemely well marketed but with a modest approach. Something I want to strive for.
3) A description of how you found the person and contacted the person.
I looked up many people online and found articles from theindependentalligator.org , and then went up to them in person (at karma cream). I found Chuck during a Krishna social asking people if they are vegan or not. I live next to the Krishna House so I knocked on their door and asked them questions about supply.
4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 
They gave me their contact information. No return expectation, just a thank you and smile.
5) How will including this person in your network enhance your ability to exploit an opportunity?
All these people are extremely knowledgeable about the vegetarian and vegan community. They know everything there is about it, and also have their circle of healthy eaters, who can give me input on my restuarant.


Wednesday, March 16, 2016

Elevator Pitch No 3


The feedback from my last trip was very helpful. Someone who commented also ended up being a vegetarian and told me that they appreciate the idea of a veggie friendly. Other commenters understood why I was doing it, but are meat eaters so I don’t think they could see why not eating animals is important. What I changed in my pitch was that I am going to also have a bodega in the restaurant with a small cafeteria for people who do not want to have a sit down meal. 

Sunday, March 13, 2016

Week 9 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 
 The part that stood out most to me in the reading was when the author explains how   vital it is for a company to market their product and how new and upcoming entrepreneurs know how to do that
2) Identify at least one part of the reading that was confusing to you.
Everything in the reading was very clear except a lot of the business jargon. Other than that, it was very straight forward.
3) If you were able to ask two questions to the author, what would you ask? Why?
I would ask the author to give a real life example of a company that does this and if they were successful.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I agreed with everything the author talked about.

Wednesday, March 9, 2016

Idea Napkin #2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
I am Isabella and I have a business mindset as my skills. I see my business as a place where people can eat healthy food and not worry if they are going to gain weight.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 
I am offering a vegan style restuarant that has a healthy vibe.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
My product will be available to everyone and can suit the needs who want to eat a guilt-free meal. My customers will have a healthy conscious in common.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 
I think health is one of the most valuable things a person can have, and what we eat plays a huge part in our health. I think a customer will pay money if they know that theyre meal is going to be healthy and tasty
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 
I would have a cruelty free restaurant.


I believe that all my components make sense together ans go together nicely. The concepts are stronger together and not weaker apart. I took away that my idea is very possible in the realm of business opportunity