Your Venture's Unfair Advantage

1.       Fundraising Experience: I have worked on fundraising project as a member of fraternity and a member of UF Club baseball.

·         Valuable: this is extremely valuable for the future of each organizations.

·         Rare: this is not rare anybody can do it.

·         Inimitable: this experience able to be imitated, but not 100%.

·         Non-substitutable: I could always hire someone to do it for me, but that would cost me money instead of time.

2.       Uniqueness of the Venture/Lack of Competitors: because there is currently a product that similar but not same so less competitive.

·         Valuable: this is very valuable.

·         Rare: It is kind of rare but similar stuff exist.

·         Inimitable: While my product is new, someone could come and copy this in the future.

·         Non-substitutable: I could definitely try to come up with some other idea that was also unique and it could have the same benefits.

3.       Social Capital: driving experience as Uber.

·         Valuable: Their experiences and words of advice is invaluable and could definitely push the venture forward into public eye.

·         Rare: It is somewhat rare. It is not easy to find a driver in your friends.

·         Inimitable: This can be imitated.

·         Non-substitutable: This can be substituted with other driving experience like taxi driver..

4.       Public Speaking Experience: I won 10^th in the State for public speaking when I was in Japan and so I am comfortable to talk in front of people.

·         Valuable: I think this is valuable because I can use these skills to speak with investors and potential customers.

·         Rare: This is not rare; I could hire a spokesperson.

·         Inimitable: This could be imitated, but not with the passion and drive that I have.

·         Non-substitutable: Nothing substitutes the power of communication.

5.       Personal relationships with fellow entrepreneurs: My father’s friend is an entrepreneur and is always encouraging me to think 4P if I want to start a business.

·         Valuable: having both the voice of experience and motivation from the inside of your closest circle is invaluable.

·         Rare: I could talk to other entrepreneurs, but none of them know me like my dad does.

·         Inimitable: This relationship cannot be imitated, nor the amount of care.

·         Non-substitutable: This could be substituted by another entrepreneurial mentor, perhaps even one who has experience in this field.

6.       Support of Current Organizations: There are many organizations that doing similar things. Definitely we can partner up with Uber eats or Bites Squad or any other food delivery services.

·         Valuable: This is valuable because I can get the support of many organizations who are already know about this industry.

·         Rare: There are lots of organizations that doing similar services, so it is not rare.

·         Inimitable: It is not inimitable because Blue Apron does same stuff but they are just not for college students.

·         Non-substitutable: I could not get the same about of support from any other group of people than from well-known organizations who are willing to help.

7.       Publicity: People know they need to eat healthy and we have been taught very well about nutrition since primary school. Once we started advertising, definitely there is a huge demand for this service. Advertising through social media will be a lot of help.

·         Valuable: Social media is definitely valuable. The more people hear about the product, the better.

·         Rare: It is rare that a new product gets a lot of publicity but I know there is demand.

·         Inimitable: It is inimitable because this service is very rare..

·         Non-substitutable: Probably TV but social media is most effective for college students.

8.       Social Capital: UF Greek Life: Because I am a student of UF, and a member of fraternity so I can contact to other fraternity and sorority.

·         Valuable: This is valuable because the relationships I have with fellow students can help push me forward, especially if those students are the heads of their fraternity/sorority chapter.

·         Rare: This is not rare because virtually any UF student could accomplish the same thing.

·         Inimitable: This is not hard to copy – it is just a matter of being willing to connect with new people.

·         Non-substitutable: Having the connections with fraternities/sororities and their leaders cannot be substituted, since they are the ones who I would try to market to first.

9.       Social Capital: worker at off campus apartments: I am very close friends with several guys who are working for off-campus apartments.

·         Valuable: This is very valuable because they can contact or put advertisement to all the students who is living in the complex.

·         Rare: This is not rare.

·         Inimitable: This could be imitated by anyone with access to these people.

·         Non-substitutable: I could not substitute their knowledge with any other knowledge.

10.   Social Capital: Preview stuff: one of my friends is one of preview stuffs and he meet many incoming freshmen Tuesday and Thursday every week.

·         Valuable: I do believe this is valuable. It will be good advertisement for sure.

·         Rare: It is quite rare for someone doing this job because there is only 30ish preview stuffs.

·         Inimitable: This cannot be copied by other competitors unless they have same friends.

·         Non-substitutable: This is substitutable if you could find somebody who have a chance to meet a lot of freshmen like preview stuffs.

After my VRIN analysis, my top resource was social capital. I think it is because connection between people is very important to start a successful business.

Elevator Pitch No.3

This time, I used my hands more to look professional and tried to be more persuasive.
I recorded this video at my work and I accidentally forgot my white shirts and tie...

Reading Reflection No.2

The Wright Brothers, David McCullough

What was the general theme or argument of the book?

A story that draws the footsteps supported by the brothers' struggle and the love of the family who realized this innovative technology that unleashed humanity from the earth, using materials such as a huge amount of diaries, news articles, letters with the family, and so on.

How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

As a matter of fact, their accomplishments have not been done just by brothers. What kind of people cooperated in the test flight. Although they say they do not have many friends, they are not just freaks, but their loyalty to their work attracts many collaborators, and as a result the human power's first power flight was reached. You can tell huge amount of people helped these brothers. In ENT 3003, I’ve learnt other people’s opinions matters. You cannot start a successful business just by yourself. That’s why we have feedback every Monday.

If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

Bug list, Idea Napkins, and Figure Out Buyer Behavior for sure.

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?

I thought they are well-educated and very genius people at first. However, they were actually did not receive engineering education and developed an airplane by themselves. Also, I didn’t know that Wright's success in developing a commercial plane was first recognized in France, not in the United States. 

Growing Your Social Capital

Domain Expert:

Who they are, what their background is:

Koki Miyawaki, he is a college student and used to work for Uber eats as a part-time job.

How this person is a “domain expert”:

He has an experience with food delivery service and he knows how to make this service better.

How I found and contacted this person:

He is my friend from high school and he always talked me about it.

Nature of Exchange: What they did for me, what is the return expectation:

I explained to him my product idea, he answered questions I had about his experience with food delivery service.

Market Expert:

Who they are, what their background is:

Kevin Laliberty is a student at UF and also working for Social 28.

How this person is a “market expert”:

I could not find someone who does research on this kind of stuff, so I chose someone who knows about students living off-campus and don’t have meal plans.

How I found and contacted this person:

We are in the same fraternity and after we had meeting, I had a conversation with him and he told me about living situation of students who lives in off-campus apartment.

Nature of Exchange: What they did for me, what is the return expectation:

It was very casual, I just asked him some questions about living situation of people who lives off-campus apartment and their eating habit.

Industry Supplier:

Who they are, what their background is:

Matt Wroblewski is a college student at UF and he works for publix.

How this person is a “industry supplier”:

He works for publix. He often deals with student customers and food.

How I found and contacted this person:

We are in the same fraternity and after we had meeting, I had a conversation with him and I asked him about if my idea is possible in the future or not.

Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?

It is very hard to find someone who is expert but luckily, I had friends who can help me with this assignment. They are not professionals but still they are working as a part-time job and still helped me a lot. This experience will expand my idea for sure and made me feel like I can actually make this business happen.

Idea Napkin No.2

1)    You. Who you are. 

I am a fourth-year food and resources economics major student at the University of Florida. I am the son of businessman at a pharmaceutical company and a high school teacher in Japan. My aspiration is to make people’s life better and happy. I have been testing the hypothesis of new food delivery service and if I was starting this business, I am sure that this business will make college students or young people happy.

2)    What are you offering to customers?

It is the new delivery service that deliver ingredients with simple recipe. This is the need for most college students because it is difficult for college students to eat healthy meal at home because they don’t have much time to do it. There will be menus for vegetarians and vegans. If the customer signed up this service with their roommates or friends, they will get discounts.

3)    Who are you offering it to? 

Mostly college students. College students do not have time to go to grocery store often and cook at home because they have a lot of homework, exams, and so on. Since they get lazy, they tend to eat frozen food or fast food instead.

4)    Why do they care?

Because many college students wish they are eating healthy. Eating healthy is one of most important things to live. Also, students' parents will be happy too.

5)    What are your core competencies?

Time efficiency and quality, and better health. This business will partner up with food delivery service such as Uber eat and Bites squad so it can be delivered as soon as possible. We are going to hire a professional nutritionist and he/she can make meal plans. Also, they will be good at cooking. The nutritionist will be stayed at local grocery store and it will be delivered from there and will lower the cost as possible.

I think that many of these elements work well together to create a successful business. Hopefully the Student Government would help this business financially, for example give students promo code, since they have huge budget so we can provide this service cheaper.

Feedback memo: There were some concerns about pricing so I decided to provide some ways to get discounts or make this service cheaper.

Create a Customer Avatar

This is 60 year old farmer guy and he does not laugh often and very quiet person.
He likes to watch baseball and he is a fan of San Francisco Giants. He drives a huge navy truck of Ford.

He doesn't watch TV shows but he likes western film and he likes to listen to country music. He has one son and one daughter. His son is a college student and majoring agribusiness and joined Alpha Gamma Rho when he was a freshman. His daughter is a high school student.

What do you have in common with the customer avatar?
Honestly, only thing that is common with this customer avatar is gender. I think the reason why I chose this guy as my customer avatar is I am not good at talking with this kind of guy. I can talk to young men or women, old women but old men. Hopefully I can overcome this problem.

Elevator Pitch No.2

What did you change, based on the feedback?
Based on the feedback, I changed my camera angle and tried to face front.