Assignment 30A

 After reviewing my old posts from this course, I would say the most formative experience was creating the bug list. It appeared easy at first, but I was running out of ideas around the fifth one. It was difficult for me to put together 15 more bugs in my life and explain them. This caused to me to really think outside of the box and be much more observant of my surroundings rather than blindly accepting them. Recognizing why things are the way they are allowed me to develop a solution-driven mindset, which is crucial for entrepreneurs. 

My proudest moment was making my final elevator pitch for my product. For my first pitch, I tried to make it as informative as possible, but I was nervous going into it and it was noticeable that I was tense in my first pitch. By the second one, I was more knowledgeable and more invested in my business concept, which I think helped me loosen up some more. By the last one, I felt that I knew my product very well and was able to explain its purpose with ease. This assignment helped me with my entrepreneur mindset as well. It is important for entrepreneurs to be both knowledgeable and passionate about their business concept. It promotes confidence, which can help sway customers and investors alike. 

I have two recommendations for students taking this class in the future. The first is to find a concept you are truly passionate about. We go into great detail with our concepts and the best way to stay committed to this class is to be able to write about something you care about. My other piece of advice is to speak to anyone you can about your product. Not only will you need to for interviews, but it will help you refine your market greatly and give you new ideas and perspectives about your product you may not have previously considered.

Assignment 29A

 The service I am offering is a recruiting firm that works specifically to place recent college graduates into jobs they are qualified for at small to mid-size businesses. This business concept could be marketable across the country and its demographic is college students and small business owners. It has become increasingly difficult for recent college grads to find work they are suiting for and as of now, there are not any recruiting firms that have addressed this need. My solution is to create a recruiting firm dedicated to placing college grads at entry level positions. Firstly, the recruiting firm would have to build a large portfolio of small to mid-size businesses that are interested in finding new young talent but do not have the hiring resources a larger company would. The window of opportunity for this business concept is as long as the needs of college students are unmet.

Once my recruiting firm has built its catalog, the firm would hire "on-campus reps" across the country to network on their respective campuses. When they find candidates on campus that interested in receiving free hiring assistance, the rep emails the candidate's résumé to the firm, and from there the candidate will have a phone interview with the firm to refine their search based on desired career path, job location, salary, etc. At this point, the recruiters take the reins in the career search and notify the potential candidates if they have an ideal position.

My business concept has both customers and clients. The ideal clients for this firm are small to mid-size businesses. These businesses are ideal because they do not receive as many applications from recent grads as Fortune 500 companies would. it is difficult for students to find these companies on their own and this is where my recruiting firm would come in. The ideal clients would be looking for long-term placements, as they are small firms. This would allow my firm's customers to take entry-level positions and have a lot of room for career growth within the business.
My ideal customers for my business concept are college seniors intending on graduating within one year. These students would typically have a business background and interested in working in a professional office setting. It is also important to note that this service would be mainly directed at non-STEM students that are not planning on going to graduate school, as these students typically do not have as much difficulty finding work compared to those with only Bachelors' degrees.

My product is valuable to both my customers and clients for various reasons. My customers need this service because it is so difficult for many students to find work after they graduate. Furthermore, these students are more interested in a career than a job. My firm's portfolio would have small to mid-size businesses that are looking to hire driven candidates at entry level that want to move up the ladder and take on leadership roles in the business in the future.
My clients need my product because small to mid-size companies do not have the same draw to many students as the nationally recognized companies. My service would help these businesses gain exposure at the university level and tap into high-level talent they would not be able to find on their own.

I believe that I am in a very unique position as I have first-hand insight into all three parties of my business concept: students, recruiters, and small business owners. As a student planning on graduating in six months, the need to find an ideal job and career is a need I know very well. I have talked to many of my peers and I believe they feel the same way. Last summer I interned at a recruiting firm and learned a lot of the inner workings of recruiting firms and how recruiters search for candidates. Lastly, I have a couple family members that run small businesses and I have seen how they struggle to find quality candidates at the entry level despite how many of them look for these candidates specifically. My knowledge of all three of these parties would allow me to successfully integrate and apply my business concept.

The next step for me is to reach out to recruiting experts with my project to move forward. While I have some knowledge of the recruiting industry, I am far from an expert and I would need to add a partner to reach my goals with this business venture. Furthermore, I would be tasked with creating a portfolio of small businesses to partner with on this business venture. In the next decade, I would like this company to be operating at the regional level, working Florida schools and businesses.

Assignment 25A

Interview 1:

For my first interview, I spoke with a rising senior studying finance that plans on graduating in spring of 2021. He liked my initial idea a lot. His suggestion was for the firm to not only place recent undergrads, but add classes or guidance for students early into their college careers so they can look for jobs on their own. He thinks mot students are left in the dark for the hiring process and thinks all students could use some job searching skills and ways to make themselves more marketable to employers.

Interview 2:

My next interview was with a small business owner in Tampa. While he liked my idea, he also suggested that my firm look for internships for college students. He believes if his company got a good intern from my recruiting firm, it could help students get hired earlier than their senior year.

Interview 3:

For this interview, I talked to a student at UF studying business administration. She also thought seeking out internships for students would be a possible move forward.

From these three interviews, I believe the next move for my venture is focusing on current students and not just recent or soon to be graduates. Placing students for internships was something I had thought about briefly, but I was not sure it would be successful because I believed that it is mostly larger companies that offer internships.

 The issue is these bigger companies do not need recruiting firms to find interns because they receive so many applications but my interview with a small business owner has me second guessing. I was under the impression that smaller businesses do not offer as many internships and my company would not be able to consistently place students. However, my interviewer said he would be willing to hire interns as a "trial run" for an entry level job. This would also allow smaller companies to get their foot in the door with top incoming talent before they are hired by Fortune 500 companies.

Interview 4:

I spoke with a sophomore studying business administration. He is planning on searching for internships this fall. He said he would be very interested in using a recruiting firm to find him and internship and potentially a job after. He thinks the toughest part of implementing this is exposure among college students. He thinks it can be successful if students know about my business concept.

Interview 5:

For my final interview, I discussed my business concept with an undecided incoming freshman. She thought this was a great idea and surprised it had not been thought of yet. I told her it would be mostly small to mid size companies and her concern was the availability of internships for students like her. Internships are uncommon for small companies so I would have to convince smaller companies looking for interns to come onboard with my business concept.

Assignment 24A

The service I am offering is a recruiting firm that works specifically to place recent college graduates into jobs they are qualified for at small to mid-size businesses. It has become increasingly difficult for recent college grads to find work they are suiting for and as of now, there are not any recruiting firms that have addressed this need. My solution is to create a recruiting firm dedicated to placing college grads at entry level positions. Firstly, the recruiting firm would have to build a large portfolio of small to mid-size businesses that are interested in finding new young talent but do not have the hiring resources a larger company would.
Once my recruiting firm has built its catalog, the firm would hire "on-campus reps" across the country to network on their respective campuses. When they find candidates on campus that interested in receiving free hiring assistance, the rep emails the candidate's résumé to the firm, and from there the candidate will have a phone interview with the firm to refine their search based on desired career path, job location, salary, etc. At this point, the recruiters take the reins in the career search and notify the potential candidates if they have an ideal position.

My business concept has both customers and clients. The ideal clients for this firm are small to mid-size businesses. These businesses are ideal because they do not receive as many applications from recent grads as Fortune 500 companies would. it is difficult for students to find these companies on their own and this is where my recruiting firm would come in. The ideal clients would be looking for long-term placements, as they are small firms. This would allow my firm's customers to take entry-level positions and have a lot of room for career growth within the business.
My ideal customers for my business concept are college seniors intending on graduating within one year. These students would typically have a business background and interested in working in a professional office setting. It is also important to note that this service would be mainly directed at non-STEM students that are not planning on going to graduate school, as these students typically do not have as much difficulty finding work compared to those with only Bachelors' degrees.

My product is valuable to both my customers and clients for various reasons. My customers need this service because it is so difficult for many students to find work after they graduate. Furthermore, these students are more interested in a career than a job. My firm's portfolio would have small to mid-size businesses that are looking to hire driven candidates at entry level that want to move up the ladder and take on leadership roles in the business in the future.
My clients need my product because small to mid-size companies do not have the same draw to many students as the nationally recognized companies. My service would help these businesses gain exposure at the university level and tap into high-level talent they would not be able to find on their own.

I believe that I am in a very unique position as I have first-hand insight into all three parties of my business concept: students, recruiters, and small business owners. As a student planning on graduating in six months, the need to find an ideal job and career is a need I know very well. I have talked to many of my peers and I believe they feel the same way. Last summer I interned at a recruiting firm and learned a lot of the inner workings of recruiting firms and how recruiters search for candidates. Lastly, I have a couple family members that run small businesses and I have seen how they struggle to find quality candidates at the entry level despite how many of them look for these candidates specifically. My knowledge of all three of these parties would allow me to successfully integrate and apply my business concept.

The next step for me is to reach out to recruiting experts with my project to move forward. While I have some knowledge of the recruiting industry, I am far from an expert and I would need to add a partner to reach my goals with this business venture. Furthermore, I would be tasked with creating a portfolio of small businesses to partner with on this business venture. In the next decade, I would like this company to be operating at the regional level, working Florida schools and businesses.

Assignment 23A

1. Organizational skills
1. Value: This is crucial for entrepreneurs as businesses have a lot of moving parts that need to be monitored at all times.
2. Rare: This is not a relatively rare skill, but not everyone has it.
3. Inimitable: Organizational skills can be developed, but some struggle with it more than others
4. Non-substitutable: It is very difficult to replace. An unorganized business will usually fail.
2. Knowledge of Customers' Wants
1. Value: I understand what college students are looking for in their future career and I think I have an advantage in providing that.
2. Rare: There are millions of college students, but they may not think about the solutions like I have.
3. Inimitable: It could be imitated by other college student, but I believe that few would be pursuing this business concept and more focused on their own business career.
4. Non-substitutable: This has been attempted by career resource centers at universities, but I believe this business concept could be more successful because I believe I see the needs  and mindset of undergraduates better.
3. Recruiting Industry Knowledge
1. Value: For my business concept to be properly executed, I must have knowledge about the recruiting industry and its practices.
2. Rare: There are currently recruiters employed, but very few are recruiting in at the entry level for recent graduates.
3. Inimitable: This would be difficult for a recruiter to imitate, because they would most likely be out of touch with the needs of recent undergrads.
4. Non-substitutable: It could possibly be substituted with sales knowledge, but it would likely be less effective.
4. Small Business Knowledge
1. Value: The value of this skill is understanding the needs of my recruiting company's future clients. Their needs vary from the hiring needs of a Fortune 500 company and this knowledge is necessary to effectively execute this business model.
2. Rare: Most people with small business knowledge are small business owners and would not have the recruiting knowledge necessary to succeed.
3. Inimitable: This knowledge can be learned by spending time working for a small business.
4. Non-substitutable: This is difficult to substitute because a lack of understanding of small business hiring processes will result in a failed business model.
5. Communication Skills
1. Value: This is essential for any business owner but specifically for this concept because I will have to be able to effectively communicate to university students, recruiters, and small business owners alike.
2. Rare: Good communication skills are not uncommon, but being able to articulate oneself to all three parties above is no easy feat.
3. Inimitable: This is difficult to imitate because few people lack the specific background I have gathered.
4. Non-substitutable: It is nearly impossible to succeed with this idea without effective communication skills.
6. Passion
1. Value: This is important for this business concept because this concept has not been done before. It is a long road ahead and passion is crucial to get this idea off the ground.
2. Rare: Passion itself is not uncommon, but there are not many university students familiar with recruiting firms that would be able to find passion for this business concept.
3. Inimitable: I believe it would be easy for one to develop passion for this project.
4. Non-substitutable: Passion for the solution could be substituted with passion for financial success, but I believe the owner would lose touch with student needs and business owner needs if this were the case.
7. Approachability/Availability
1. Value: This is extremely important for this business concept because the business owner has to be able to "win over" its clients and employees. This also very important for the recruiting process of my business.
2. Rare: This is an obtainable skill, but it comes easier to some than others.
3. Inimitable: This is inimitable, but some clients and employees can be difficult to "win over"
4. Non-substitutable: If the firm is not enticing to clients and students, it will fail.
8. Commitment
1. Value: For this business concept to be successful, one must be committed to finding ideal jobs for recent grads and meeting the needs of the small businesses in its catalog.
2. Rare: This is a coveted skill that few truly possess.
3. Inimitable: It can be imitated by someone very committed but it is difficult to fake.
4. Non-substitutable: Commitment is absolutely essential to this business concept.
9. Leadership
1. Value: This skill is important for creating and directing a recruiting team.
2. Rare: This is an uncommon skill to thrive at.
3. Inimitable: A good leader could run this company, but they need industry expertise.
4. Non-substitutable: A group of very autonomous recruiters could potentially run a firm like this, but it would be difficult without effective leadership and direction.
10. Work Ethic
1. Value: Without work ethic, it would be impossible to effectively place recent grads at work and build a catalog of small businesses.
2. Rare: This is a rare trait that is highly sought after.
3. Inimitable: This can be imitated by very driven individuals.
4. Non-substitutable: Recruiting requires diligence and attention to detail, especially for placing recent grads. This simply cannot be done without hard work.

After this analysis, I would say my approachability and availability is my most valuable resource. I believe this skill will allow me to collaborate with high level recruiters on this project as well as win over small business employers for their hiring needs.

Assignment 22A

https://youtu.be/U2M2GhFSHig

I recieved mostly positive feedback on my last elevator pitch, highlighting my voice was loud and clear and my pitch was easy to follow. I was really happy with what I wanted to say in my second pitch, so I did not make any changes to it. I tried to relax more as that was my main criticism on the initial pitch and make myself appear more comfortable talking about my business concept.

Assignment 20A

Domain Expert:
I was able to come in contact with my domain expert through my summer internship at a recruiting firm last year. He is the president of the technologies and engineering sector of his firm with nearly 20 years of experience in the recruiting industry. I contacted him and introduced myself and let him know I wanted to discuss my business concept with him and briefly described it. Hopefully he will be able to provide me with some expert insight on how to move forward with this project. This contact could benefit him because I introduced him to a new concept in his industry that he has yet to explore. I believe with his experience in recruiting and my knowledge of current undergraduate needs, we can contact a wide array of customers and clients for this product.

Market Expert:
I thought the Career Connections Center at UF would have a similar market to my own and I sent an email about my business concept. Because my business concept serves the purpose of placing recent undergrads, I have a lot in common with the goals of UF CCC and we could potentially collaborate to come in contact with more students in the future.

Supplier:
For my supplier, I decided to contact the vice president of operations of a popular job searching board, as nearly every recruiting firm uses these to find talent for their clients. She has been working for the company for 15 years and has held her position for eight. I found her contact information online and reached out to learn more about how job searching boards work and a little bit about my business product. Hopefully, we would be able to help each other, as I have no experience working with technology development and her company has yet to specifically cater to college grads.

Reflection:
I believe I gained a lot from completing this assignment. I contacted three people who have seen much success in my industry and I have showed them how I can assist them. Hopefully, I could one day collaborate with one if not all of them. This helped change how I look to network because I had to conduct extensive research on each of them. I learned they are all highly regarded in their fields and I made sure to acknowledge their professional accolades when I reached out to them. I believe they are likely to be more responsive because I proved that I truly value their expertise and opinion and took the time to understand what they could offer before I reached out.