The Twenty Percent- Rachel Mead

I interviewed Trevor Bliss. He asked to not be recorded but here is the transcript of his interview:

Could you please provide a brief description of your business?
Consilario Scholastic Consulting Services aims to provide high school students with the necessary guidance to get in to colleges that are the best fit for their interests and abilities.  With typical school counselor caseloads at averages over 400 to 1, private consulting for college guidance is almost necessary to ensure a student's best chances for college admittance.  Consilario guides and monitors all of the necessary components to be admitted into first choice colleges such as volunteerism, academics, testing, applications, essays and scholarships.

Who are your target customers?
Target customers are families from middle and upper socioeconomic demographics with children in high school.  These families know little about the college admittance process or do not have the time to monitor and ensure best practices for meeting college entrance criteria.

What are your customers unmet needs?
Customers' unmet needs are the knowledge of the colleges and their admissions processes; the tracking of volunteer hours and placement in activities that demonstrate leadership and passion; connections to various services for tutoring and test preparation; advice on best high school courses of study in order to gain college admission.

Where do you find your customers?
Customers are found by word of mouth.  Advertising will take place at middle school functions where parents are beliguired by high school choice and future plans for their children.  Social media and a website will also help funnel clientelle to the business.

What are your customer's demographics?
Customers are primarily affluent members of the county who have moved into the area after completing their schooling.  They know little about the educational offerings of the area but value education and are willing to pay money for a better educational service than what is offered at their child's school.

I then interviewed three target customers and asked them who they thought his twenty percent came from. Their responses matched Trevor's because his business directly works with families who are interested in gaining help from an adviser who aids them in helping their child through the college application process.

Week 8 Reading Reflection- Rachel Mead

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? 

I was unaware that there were other places besides banks that are able to loan money. I really liked the diagram the author included describing the various types of lenders and each of their details.

2) Identify at least one part of the reading that was confusing to you.

I was a little confused about debt-financing and what it is. To me, the word debt just sounds bad so I was unsure how debt-financing works because it doesn't sound beneficial.

3) If you were able to ask two questions to the author, what would you ask? Why?

I would ask the author what types of businesses ask which types of lenders for money and I would also ask if certain lenders are more likely to support one type of business over another.

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

I disagreed with the author when he spoke about the myths on Venture Capitalists. He says it's untrue that they want control of the business but that they do want to be consulted with major decisions and that they expect unreasonably high returns on investments. I felt this was somewhat contradictory and even though they may not want to have complete control, it sounds like they want the power and authority and maybe some of the credit as well. 

Half-Way Reflection- Rachel Mead

1) Tenaciousness is a skill. What are the behaviors that you have used (or developed) to keep up with the requirements of this course? 

I have been keeping up with this class by doing assignments in bulk since they are usually short. The amount of time spent doing a certain amount of assignments is equivalent to the time spent studying for other classes.

2) Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

I think the most frustrating part for me has been recording my assignments. This is different from other classes and does make some of the work much harder and requires a significant amount of effort. This is also a good thing though and has taught me to plan ahead. I think this class has definitely encouraged me to be more tenacious and it helps that my grade (which is determined by myself) depends on the work I truthfully complete. 

3) Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset' ?

I would tell next semester's students to work ahead especially when recordings are needed. In order to develop a tenacious mindset I would recommend reflecting more often, possibly every other weekend, to stay focused. Another tip I would offer is to take advantage of the extra credit ahead of time just in case you can't complete an assignment.  

Week 7 Reading Reflection- Rachel Mead

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? 

I like that this article focused on advertising and how the connection a product makes is more important than its functions. When I come up with an idea, I’m very excited about what it can do and offer but need to keep in mind what it can mean for the customer.

2)    Identify at least one part of the reading that was confusing to you.

I didn’t feel like the author really explained what segmentation was. This term popped up throughout the entire reading and I never really got an idea of what it actually meant.

3)    If you were able to ask two questions to the author, what would you ask? Why?

I would ask the author if he thinks that products are now harder to advertise because of the extensive technology we have incorporated into products, thus raising people’s expectations. I would also ask how he thinks a larger majority of people can be targeted so that a product can relate to most individuals instead of a certain population.

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

The only thing I disagreed with was the importance of senior opinions. Although I do think they have some say in whether a not a product should be changed, I think most of them understand and have experienced that times change and evolve and it’s good to have young minds working to appeal to the larger population. 

Elevator Pitch No. 2

The feedback on my last pitch was pretty positive. Some of the comments included questions about how I would obtain the money to pay students for studying and how I would monitor their studying. 

Overall, the comments seemed to support my idea and confirmed that this program would motivate more people to study and it would be nice to have a reward for hours of hard work. 

As for this assignment, there were not any comments I thought were wrong. The only thing I could really say I was surprised about were that one of the comments (still positive) had various suggestions and questions that showed me the idea needs more planning and attention in certain areas.

 In this pitch, I described more how I would obtain money for this program and how students would be monitored while they study. 

Interviewing Customers No. 3

I simply asked what each person thought of my idea "Study Money" after explaining it to them. This was the first time I got negative feedback so I was pretty surprised. I was actually asked questions that were hard to answer so I learned I would still have to make my idea more detailed. I really like that I did get negative feedback though because I felt it was very honest and raised questions that did need attention.





https://www.youtube.com/watch?v=LJ1y3QDatbE

https://www.youtube.com/watch?v=r2rvLu0LEk8

https://www.youtube.com/watch?v=bb4ePXd1lGs

Week 6 Reading Reflection- Rachel Mead

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? 

One thing that stood out to me was when the author mentioned that a new product has to basically replace another product and essentially be better. I think this is actually very motivating for both parties to ensure that they are they are the best product out there.

2) Identify at least one part of the reading that was confusing to you.

I felt that overall the article was much more confusing than the text book. I wasn't sure what the author meant by "substitutes" because the examples he gave were major, front running companies. I think the author could've done a better job at explaining different terms and differentiating between the various aspects he mentions. 

3) If you were able to ask two questions to the author, what would you ask? Why?

I would like to ask the author how to persuade distributors to accept a product and also how often a business should try to change their structure and methods. 

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

I think that the author was wrong in the last paragraph of his article in saying that the economy would be better as a whole if more companies looked at competition in a different way. I think the industries would just become more aggressive and strategic for their own benefit and ultimately end up making the economy worse. 

Idea Napkin No. 1- Rachel Mead

My name is Rachel Mead and I have been an active event planner for various organizations and businesses. I aspire to become a veterinarian and feel that starting this business will provide me with experience as well as new skills that can apply to my practice.

I am offering a program that allows students to log the amount of hours they study and get paid for it. This helps students maintain a balance between work and school and ultimately be more successful. I am offering this service to the students of the University of Florida and hope to expand. All of my customers will no longer struggle with trying to keep up with the rigorous demands of work and school.

What I have to offer is the ability to look at problems objectively and solve problems from different angles. I believe that my motivation and organization will really push this program into being successful.

I believe that all of these aspects will complement each other. I think these are learning experiences that I can take from and relate to many areas in my life. I think this will be a program that many students will take advantage of and I only wish that this could’ve been implemented sooner. I am excited to start forming this business so that I can make a difference in the lives of my peers. I think this would have a major impact on the community and produce more motivated members of society. 

Week 5 Reading Reflection- Rachel Mead

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? 

One point the author brought up was “Ignorance of Legal Issues”. This is an aspect of entrepreneurship that I rarely think about but should more often. Mostly when I think about the legality of an idea, I immediately jump to patent laws and paperwork and forget that there still needs to be safety regulations and precautions as well.

2) Identify at least one part of the reading that was confusing to you.

Not too much of this chapter seemed confusing. I would say the only thing I found confusing was when the author got into the different types of feasibilities only because it was a lot of information on various aspects. But overall, I was able to follow along in this chapter.

3) If you were able to ask two questions to the author, what would you ask? Why?

I would ask the author the statistics on successful start ups as well as if there are any factors not mentioned in this chapter that make an idea stand out more.

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

I think the author put too much emphasis on entrepreneurs not understanding the technicality of an idea. I think this is the area where most entrepreneurs focus on. 

Elevator Pitch No. 1- Rachel Mead

My opportunity: Students who have a hard time balancing work and school.
My solution: To provide pay for students who choose to study using my program called "Study Money".