Week 15 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 article opened up with a very surprising story about theft and I wouldn't have expected that entrepreneurs would have to deal with such intimidating people.

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

I was confused about the part where it mentioned how SKS's strategy was used to bypass the poverty eradication programs. I wish the author would have went more in depth with what it means and how it is important. 

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

Like mentioned above, I would ask him specifically how SKS's strategies was used to bypass the poverty eradication programs because I was a little confused about that in the reading. In a business sense, I would also ask how they got involved in working in a place like India because intuitively I don't see it as the best market to help a business. 

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

Unlike some other reading reflections, I didn't think the author was wrong about anything. I really support the help that he is doing for struggling communities. 

Final Reflection

1) Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

Ironically, a lot of the moments I thought I would dread ended up being pretty enjoyable. The ones that stick out in my mind are the Customer Interviews and the Free Money assignment.

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

Definitely the most formative and memorable experience was the Short Interview with an Entrepreneur, he gave me really insightful answers that are quite invaluable. The most joyous experience I had was interviewing the 5 people that knew me best. It was really fun hearing what they each had to say. I am most proud of of the Free Money assignment because I really had to get out of my comfort zone. 

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

I have always seen myself somewhat as an entrepreneur but this class has definitely emphasized that feeling. With that said, I do believe I have moved closer to that mindset with all of the assignments we have completed. 

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

Definitely I would recommend that you work ahead so that you aren't swamped with work an hour before it is due. I would also recommend not thinking about the outcome of the assignments and just going in with an open mind so that you don't psyche yourself out. Lastly, I would tell them to look for the application of these assignments so they can foster the entrepreneurial mindset.

Elevator Pitch No. 4

I didn't drastically change anything in this pitch but I tried to work on my pauses and polish it up a little more based on my feedback. Someone said I should say something that will make it hard to forget about my pitch which I thought was a little vague. I had no choice but to wear the same shirt at this point.

Venture Concept No. 2

Venture Concept

Opportunity         

As someone who has always been into fashion, I have noticed a serious lack of options when it comes to male clothing. Most popular male clothing brands fit in two categories; the one that over-brands themselves and puts their name and logo anywhere they can, as big as possible, or there is the brand that is so simple that where you can’t distinguish it from any other brand. To illustrate my point more, examples of the former type of company I mentioned would be like Hollister, American Eagle, and The Hundreds. Examples of the latter would be H&M, Gap, and Old Navy. The one brand I have noticed incorporate both of these methods is Ralph Lauren. You could buy a plain color polo with nothing on it but a small logo or you could buy one where the logo covers a fourth of the shirt and “Polo” is written in bold letters across your chest.  With that said, it is not very easy to find unique and tasteful clothing when you are a guy. This is market that can be greatly explored since there are men everywhere that feel this way. Currently people need to go out of their way to find clothes that are distinct. One of the few ways to do so is to find stores that don’t follow the business model these commercial brands are using, although that is not as easy as it sounds. I would say there are two brands that stand out in my mind that don’t fit the generalization stated above, Urban Outfitters and Cotton On. While these to companies may be successful, it doesn’t compare to widespread availability of the other brands I mentioned. You can almost guarantee that there will be a Hollister or a Gap in any mall you go to but you can’t say the same thing about Urban or Cotton On. Because there are such few alternatives, this remains a big opportunity for anyone with fashion sense and it will last until there is equal representation for this niche of clothing. I know this is a market in need because ever since I discovered the limited alternatives, I have never once gone back to those tacky or simplified brands as well as many of my friends.

Innovation

While I am a huge fan of Urban and Cotton On, I believe we can go a step further. What I am proposing is a brand that lets the user design the clothes. I would start with just shirts but would hope to transition this idea to all articles of clothing. The way it work is like this: you walk in to a store and see a template of all the customizations you can make. First would be the type of shirt:

·      T-shirt

·      Collar shirt

·      Henley

·      Button-up

You would then be able to design practically every aspect of that type of shirt:

·      Material

·      Pocket(s)

·      Buttons

·      Trims

·      Collar (color)

I plan on having a sort of mini factory where there are people on display making these customized shirts and when they are ready you could have it shipped to you or come and pick it up yourself. Although the price is not finalized, I think the plain shirt would be $20 and there would be a price from $5-$10 for each subsequent you added on depending on what it is.

Venture Concept

The innovation mentioned above will provide something completely different to the clothing industry. I believe many people will get hooked to this idea once they walk into the store and see how much control they have over their clothes. No clothing brand is doing anything near this idea so I don’t think it will be too hard to get customers.  I suppose my strongest competitors would be Urban Outfitters and Cotton On since we are tending to towards the same people but they lack something fundamentally different, and that is the customization of clothes. If my store is placed in a high fashion mall or a shopping center, I have no doubt it will do well.  I would need to create a store and website where the customization can be done and I would need employees to make and sell the clothing. Each store would probably need around 15 employees if I went through with the mini-factory idea. I plan on being on the designing end, choosing what can be customized and what the options are.

The Three Minor elements

1.     My most important resource is the sheer amount of control the user has in designing his clothes.

2.     I plan on carrying this idea over to more articles of clothing and eventually for women as well.

3.     In 5 years I want to have my own clothing line and pursue an individual career in design. My first venture will give me experience in clothing industry and knowledge on the best ways to go about making clothes.

Unfortunately, I didn’t do my first Venture Concept or What’s Next so I didn’t change anything and don’t have any feedback.

Week 13 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 biggest surprise I got from reading chapter 14 was the story of Brad Daniel and how he expanded his florist business into five stores in South Florida. What made my mouth drop was the fact that sold it for $130 MILLION. That is just so much money and the kick was that the rollup ended up filing for bankruptcy and selling Daniel his business back. 

2) Identify at least one part of the reading that was confusing to you. I was confused by the Due Diligence question of funding request and if its appropriate for sucess. I think its a very open ended question and I would need clarification on how to go about this questions' analysis.

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

• price/earnings ratio drawbacks: to what extent can they bring more risk than reward? What would be a better alternative?

• In terms of the due diligence outline, how much does each one vary in questions? It is a standardized outline or do they vary across different people's businesses and ventures?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? I don't agree when the author says that every entrepreneur should be able to calculate the value of his or her business because there will always be emotional and personal biases that come into play. Furthermore, there are other biases when it comes to determining the value of a competitor's operation. 

Celebrating Failure

At the beginning of the semester, a band I really liked announced that they would be playing in Gainesville. Being a huge, I bought the tickets immediately and called my friend from my hometown(who is also a fan) to come visit and see them with me. Little did I know I had a test the day of and the day after. Because we had prepared so early, my friend had taken off of work and bought his ticket so I was reluctant to tell him not to come. I ended up getting a D on one test and failing the other. I learned that before making plans I need to make sure I have an open schedule around that time and also that I must prioritize school over everything, my friends best interest. Failure is something that heals with time and no matter how bad it may seem in the moment, it does get better. There is almost always a way to make up for what you've done wrong you just need to be willing. This class has really made me get out of my comfort zone so I am definitely more likely to take a risk now than 4 months ago. A lot of these assignments have made me realize how I used to psych myself out, thinking something isn't going to go well before it has even happened, but I've realized that it's all in my head for the most part.

My Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children? I would like to stay with my business for as long as I can and if my children want to carry on the company then they are more than welcome.

2) Why have you selected this particular exit strategy? I chose this strategy because clothing design is truly a passion of mine and I would like it to be my occupation for as long as possible. I also don't want to force my decisions on my kids so I would let them decide if they want to continue the business

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources? I suppose it has influenced my growth intentions because if I wasn't doing something I was really passionate about I wouldn't have the substantial goals that I want to accomplish.

Week 12 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 author referenced a list that ranked the top five mistakes entrepreneurs make and the first one was misunderstanding industry attractiveness. I was surprised to find out that it is against your best interest to work for the top business in a respective field.

2) Identify at least one part of the reading that was confusing to you.  They mention "firms" multiple times throughout the chapter but I didn't understand what it meant in the context he was using it in.

3) If you were able to ask two questions to the author, what would you ask? Why? I would ask the author which entrepreneurs he believes are the ones to follow in the f fashion industry because I would like to hear an opinion from such a knowledgable person. I would also want to know what companies have used these strategies so I can have some more examples of them working.

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 would make the strategies seem very black and white as if there was only one right way to do things but in reality I think different things will work better for certain people.

Week 11 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? My general idea of innovation was largely related to technology being the main driver but the author emphasizes how business model innovation has been really successful and I hadn't realized that.

2) Identify at least one part of the reading that was confusing to you. The author gave an example of how most personal computer companies were at the mercy of Microsoft and Intel to explain a point but I didn't know why that was the case.

3) If you were able to ask two questions to the author, what would you ask? Why? I would ask the author to rank the companies he feels are showing the most innovation in their products because I would like to hear the opinion of someone so knowledgeable in this field. I would also ask in what area he feels the most innovation is needed because he seems to have a good grasp on innovation in many different fields.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? The author said that unless innovation gets customers to pay more, saves them money, or provides some social benefit than it is not creating value but I would argue that something that doesn't fit that description can have personal value that helps somebody individually.

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. My revenue will mostly be earned through the customizable T-shirts but I am also considering creating my own clothing line that could be sold under the Demize brand.

• Describe what kind of product offering you believe should be next. What's the next thing your customers want? As stated above, I would want to implement a my own line that isn't limited to only shirts and transitioning to have the customizable shirts be for women as well.
• 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 the clothes that I would design will expand the niche I am trying to make of distinct clothes that don't fit the general mold of the current male fashion industry. Making the customizable aspect of my company open to women will obviously make my brand benefit more 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. The closest thing I could find is the"customizable" shirts that let you write whatever text you want. 

• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it? This product was met with mostly positive reviews because they customers were getting exactly what they asked for in most cases. Many of the reviews were happy that the shirt was cheap and fit well. One mentioned that the template shirt advertised was Hanes but the one he received was of a lesser brand, Gildan.  
• Describe what design/usability changes you'd make to the product. I am personally not a fan of text t-shirts in general so I would change it pretty drastically. I suppose I would make the customizable aspect related to graphics like emblems or art but there probably will be copyright issues.

• Describe why you think this product would make a good addition to your current product/service offering. Like I said I think shirts with text are pretty tacky butI guess having the option available wouldn't hurt 

Elevator Pitch No. 3

Reflection: I had an overwhelming positive response to the shirt that I chose so I had no choice but to wear it again (but believe me, I have a lot of nice clothes). The only criticism I received had to do with possibly adding logo or something to make my clothes (Demize) more distinguishable. This is something I had previously thought of but didn't include in my pitch so this time around I did. I also decided to include some of the brands that fit my initial description. I am not sure if this helps or not so I would like to hear some feedback related to that.

My secret sauce

1) Describe five ways in which you think you have human capital that is truly unique. 

• Because my family didn't force any religion on me, my "spirituality" was rooted in experience rather than tradition.
• My humor tends to push the boundaries of what is generally accepted. I enjoy joking about subjects that people may find uncomfortable, pretty much the opposite of political correctness. 
• Ever since I was young, I cared about my appearance a bit more than others, whether it was the clothes I was wearing, my shoes, or my hair. I guess the term would be metrosexual.
• Due to my upbringing, I would say I have a very open mind. I am always taking bits of knowledge from different ideologies and I never immediately dismiss anyones views.
• I have had a passion for art and design since I was little and it has stuck with me up to this point.

2) Interview the five people who know you the best.

• Mom - My mom knows me the best by far so I wasn't surprised when she was touching on topics that I have in my own list. She also reminded me of huge aspects of myself that I forgot about like my "aesthetic." 

• Arianna - What she said is pretty spot on. I do find it easy to get along with people but I am also very opinionated and I won't shy away from telling people how I feel. 

• Dad - The video cut off because my phone ran out of space but he finished off by saying I have the ability to stand out when I walk into a room. He said I was creative which was similar to one of the attributes I chose for myself. He also said I had an interesting way of looking at things which I am not quite sure what he means.

• Jed - What he said is very true and even though I didn't put fairness as one of my top five, I do always try to keep things equal. I think he answered with this because I try to give him gas money, food, etc. when he's is driving or stuff like that.

• Sebastian - This was very similar to something my dad said. I didn't expect to hear the same thing twice from the people I interviewed.

Reflection: I thought there were a lot of similarities between what I wrote and what my family and friends said about me. There were also things I had forgotten about or didn't realize until they were said out loud. I think my friends assess me more based off the experiences we've had and my parents assess me in a similar way in how I assess myself. I would say this is due to nature of our respective relationships. Although the way they came to their conclusions may have been different, I believe they were all correct in what they said. If I were to change my list now, I would add what my mom said about the aesthetic I have and also how my opinions are deeply rooted and I proudly stand by them.

Idea Napkin No. 2

1. I am a computer science major who is interested in clothing design. My skills are surrounded on creativity and problem solving. I would say my talents include drawing and graphic design and in a broader sense, being personable and outgoing.  My aspirations would be to open my own store where the shopper can design their own clothes. Eventually I would want design my own line. If I were able to start this business, I would see it taking up most of my time as it is something that I have always wanted to do.
2. Many people have noticed a lack of options when it comes to male clothing companies. Most brands are over commercialized or so simple that they seem indistinguishable. I would like to bridge the gap of these 2 extremes by creating a clothing store that grants the shopper the ability to customize their own clothes by changing aspects of it like trims, collars, buttons, colors, and materials. The shopper will be able to order it online or in-store and pick it up at a later date. There will be a starting price for the blank shirt and every customization added to it will increase its value. Customization prices will differ based on what aspect your designing. The shirt will cost more than a regular shirt but still affordable for the average person.
3. My business idea would mainly tend to younger males but could easily be popular with any guy who is into fashion, regardless of his age.
4. People are tired of being of the tedious styles that major companies use. This brand would be very valuable to the industry because it would provide clothes that could fit any style the shopper desires while remaining distinct. 
5. As far as I know, there isn't any stores trying to implement anything near my idea. Tailors are somewhat comparable but much less accessible while mainly tending towards fancier clothing rather than casual. The clothing would also be much cheaper than a traditional tailor because there will be templates to follow and materials already prepped for customization. No company in the clothing industry grants the shopper as much input as Demize. For that reason, I believe my idea stands on its own.
I thought of this idea a couple of semesters ago so I have had some time to flush out the ideas that weren't cohesive with the overall concept. My one concern would relate to the fact that I want to have my own line of clothes that I've designed. Although the style would fit the types of shirts that would be customizable, I think it may be beneficial to focus all my attention on the customizable aspect because that's what really separates my brand from others. 


Feedback memo: 
• Will it be expensive?
• How will you determine the price?
• Whats the difference between my store and a tailor?
• Won't you have to wait to long for your shirt to be made?
• Wouldn't this only be for rich people?
I address how expensive the shirts will be and how I will determine the price in general terms in the "What I am offering to my customers" bullet (2). I touch on the differences between my brand and a tailor in the "What are your core competencies" bullet (5) to emphasize why my company stands out. I received feedback that pointed out that people would not like the idea of not being able to immediately walk out the store with their shirt after they make it. To address this I include that you could design the shirt online and pick it up from the store when it's ready in (2). Lastly, I referenced some reasons as to why it would be priced fairly in (5). Some of the elements in my first napkin did not need to be changed very much as the feedback did not apply to it.

Half-way Reflection

In this course, I needed to display more responsibility than my other classes because I am the one who is in charge of my own grade. I was also forced to get out of my comfort zone with some of the assignments that involved talking to strangers. In these particular assignments I questioned whether or not I should even bother putting myself through these awkward situations since they were only worth 1 point. In the first "interviewing customers" assignment I was too uncomfortable with the idea of talking to strangers about my idea that I decided not to do it. But when another similar assignment came up, I knew I had to start acting like an adult and do the interviews no matter how much it bothered me. After I was completed with the assignment, I realized it was in my best interest to do them as they were helping me deal with experiences I was sure to see in the future. Advice I would give to people taking this course would be to not have expectations as to how these assignments are going to play out. You often will scare yourself and make it seem worse than it actually is. Also keeping a schedule really helped me stay on top of my work so that I wasn't missing any points. Lastly, I would tell people to look for the application of the things that your learning. Even though the assignments may seem weird at first glance, they are strengthening skills you need as an entrepreneur.

Free Money

I am planning on going to the new CVS on 13th St. because there will be a lot of people going to the grand opening or walking home. I am going to choose the people I give the dollar to based on qualities I like in their appearance, whether it is something they are wearing, their hair or even their bike. This will make starting the conservation easy as I could just compliment them on that and ask wear they got it from. I think I'll give away 3 of the dollars because I think a couple people won't want to take it without a legitimate reason.

*For the second video, after I said the reason why I wanted to give her the dollar and she denied, she almost looked scared so to ease the tension my girlfriend brought up that it was for a project. I didn't see this as a problem because she had already said no and was on her way.


This was one of the more awkward exercises we've had to do. Most of the people I went up to seemed really uncomfortable when I brought up giving them a dollar. I thought it would have been easier to give the dollar away but most people denied it. After some persistence, only 2 people accepted the money so my prediction was wrong. I think I underestimated how strange it would seem giving someone a dollar for essentially no reason. The people that said no probably thought there was some ulterior motive. For the most part my expectations were met; the people that looked shy, got uncomfortable and denied the money and the people that seemed relaxed were more open, usually accepting the money.

Week 7 Reading Reflection

I was confused about the part of the article that mentions the buying habits of people in the 1960s. The author didn't give an explanation as to why people without education became wealthy, and why the people with more refined tastes were price conscious. I would like to ask the authors why the consumers were this way because it seemed to have a big impact on the future of advertising. I was most surprised at how advertising may have effected the products being made. Specifically, the authors state how the use of imagery in advertising took the pressure off of companies to make new innovative products. I would also like to ask the authors what the best advertising agencies are in their opinion so I could see how they utilize the strategies mentioned. The authors seemed to be very accurate in this piece, only making claims after there was substantial evidence to do so.

Elevator Pitch No. 2

I only had a couple suggestions in the comments of my first pitch which were to cut the final seconds of the video because it was "awkward" and to stop "up-speaking" (to change the tone of your voice, turning your sentences into questions). Editing the video was an obvious improvement but it was something I was already aware of. The "up-speaking" on the other hand surprised me because I didn't realize I was doing it until I re-watched the video a couple times. At first I thought that was pretty useless advice, but after some analyzation I realized I could improve on that aspect of my presentation. So I tried to implement this feedback into my new pitch because I thought both ideas would benefit the pitch. I also decided to wear the same shirt because it helped illustrate my idea which was also a comment on my last post. 

Week 6 Reading Reflection

An aspect that left me surprised was that a supplier group is powerful if it is more concentrated than the industry it sells to. Questions I would ask the author are what would happen if a supplier only served 2 industries? Would it be much more dependent on its revenues?Additionally, I do not necessarily agree with the intensity of this authors’ idea of competition because there seems to be a lack of ethics involved— which I know SHOULD be taken into account. I did learn that eliminating rivals is a risky strategy and can backfire on you. 

Customers Interviews No. 3

Other than the initial reaction question, I decided to ask if the wait time lasts for over a day, would that effect your decision buying from my store, and my second question was whether you would prefer if the customization was done online or in-person. I am going to interview mainly guys because that’s who the brand would primarily be for, but I also would like to hear a girls opinion on the idea. In this exercise I learned that each interviewee had their own preference to whether or not they would rather design the shirt inside or online so it is obvious that I should include both in my business. I was most surprised by the differences in opinion each of the people had because I realized it would be hard to tend to everybody’s preference.

Idea Napkin No. 1

1. My name is Derek Baltar, I am interested in clothing design and my skills are surrounded on creativity and problem solving. I would say my talents include drawing and graphic design and in a broader sense, being personable and outgoing.  My aspirations would be to open my own store where the shopper can design their own clothes and I would eventually want design my own line. If I were able to start this business, I would see it taking up most of my time as it is something that I have always wanted to do.
2. The male clothing industry today is very polarized. There are the brands that put their name as large as possible, making you a walking billboard; or there are brands that are so simple, it's impossible to distinguish it. I would like to create a company the bridges the gap between these two sides by having a store that grants you the ability to create your own unique clothes.
3. My business idea would mainly tend to younger males but could easily be popular with any guy who is into fashion, regardless of his age.
4. I am sure many guys feel the limited selection when it comes to buying clothing. This brand would be very valuable to the industry because it would provide clothes that could fit any style the shopper desires while remaining distinct.
5. As far as I know, there isn't any stores trying to implement anything near my idea. I would say the closest thing to my brand would be the online websites where you customize the graphics on t-shirts but even that is very different. Those shirts have very limited options, allowing changes only in the color of the shirt and the graphic/font you decide on. My brand would be making shirts that are customizable from the top-down (i.e: trims, collars, buttons, colors, materials). As I eluded to before, those companies create graphic t-shirts while mine would grant the ability to choose the type of shirt as well as the customizable aspects making it recognizable. For these reasons, I believe my idea stands on its own.

I thought of this idea a couple of semesters ago so I have had some time to flush out the ideas that weren't cohesive with the overall concept. My one concern would relate to the fact that I want to have my own line of clothes that I've designed. Although the style would fit the types of shirts that would be customizable, I think it may be beneficial to focus all my attention on the customizable aspect because that's what really separates my brand from others. 

Elevator Pitch No. 1

It seems like the only goal of some brands is to plaster their name or logo as large as possible on their clothing, while others seem to make clothes so generic that they are indistinguishable. I have noticed a shortage of clothing brands that lie in between these two extremes. I would like to offer a style that is simple yet distinct; lacking the in-your-face branding that so many companies utilize. To put this into action I first thought I could just create my own clothing line that would fit these standards and although I would love to do that, I believe I came up with a more interesting idea. My proposal is to let the shopper design and customize clothes by changing the trims, materials, buttons, etc. using templates that I would provide. You can think of it as a Chipotle where there are all these ingredients to choose from but you only ask for the ones that you like. More specifically, I would like to have a small factory within the store that is on display, where you could see other "orders" being made. I came up with the brand name Demize which is a play on words with design and customize.

Week 4 Reading Reflection

I was very surprised to find out that adults only use up to 10% of their creative potential. When the author explains the definition of creativity, I do not necessarily agree with him saying “having the power to create(137).” There should be another definition that doesn’t involve the word “create” when explaining what “creativity” is. I would ask him for another way of explaining what creativity means. On page 140, I was confused as to what he meant by there being a major difference between an idea that arises from speculation and one that is the product of “…extended thinking, research, experience, and work.” Isn’t a good idea, a good idea—no matter where it came from? Finally, I really liked what he said in terms of recording and jotting down any intuitions or feelings and then going back to them later and determining their accuracy. 

Top 5 World Problems

1. Lack of education: In many third world countries vast numbers of children aren’t able to get an education simply because it’s too expensive, leading them to live much less fortunate lives. It’s harder to find a job and support yourself and your family without going to school. The first world countries should all create programs that create schools in poverty stricken places.
2. Global Warming: The heating of the atmosphere and waters due to carbon emissions is the biggest problem the world faces today. By reducing the amount of fossil fuels we intake and utilizing alternate forms of energy like wind and solar, we can begin to heal our planet.
3. Disease: Sickness is the main cause of death in the world and it happens much more often in the undeveloped countries where hospitals are hard to find and they’re not cheap. Some of the main diseases that threaten humanity are Cancer, HIV/AIDS, heart disease, and respiratory disease. We need to fund more research that try curing these diseases or at least lessen their effect.
4. War: Nations wage war due to territory, religion, and wealth at the cost of lives that range up to the millions. Now there is conflict with dictatorships like North Korea and Russia as well as Islamic terrorist groups like ISIS and Boko Haram. Although it may never happen, optimally we would form a global society where every country can trade and co-exist with each other in peace.
5. Racism: There still seems to be a huge problem with racism in this country as many innocent people are getting killed through racial profiling. These tragedies mainly involve police officers shooting young unarmed Africa-Americans usually merely based off suspicion. The police need to be required to have a video feed running that cant be tampered with and the police guilty of abusing their power need to be held responsible. In a broader scheme, we need to fundamentally change the way people view races as separate groups rather than a unified one.

1. Racism: In a broader scheme, we need to fundamentally change the way people view races as separate groups rather than a unified one.
2. Lack of education: The first world countries should all create programs that create schools in poverty stricken places.
3. Global Warming: By reducing the amount of fossil fuels we intake and utilizing alternate forms of energy like wind and solar, we can begin to heal our planet.
4. Disease: We need to fund more research that try curing these diseases or at least lessen their effect.
5. War: Although it may never happen, optimally we would form a global society where every country can trade and co-exist with each other in peace

      For the problems, I initially thought that Global Warming was the obvious choice to take the first spot but as I was working on the list, I realized something -- By solving the problem of the lack of education, the whole world would become more conscious of our situation and we would fix the problem of climate change more efficiently (and many problems on my list). As for the solutions, I think ending racism would be the easiest. I believe we are in the generation where the people who hold racist views are dying out while their children grow up in a world that is diverse and multicultural. The millennials will then teach the same decency to their children and a new cycle will take place. 

Week 3 Reading Reflection

1)   The biggest surprise I had during the reading was the idea of how psychologically traumatizing a failed venture might be. I imagined entrepreneurs always confident and ready for the next opportunity.

2)   To what extent is optimism dangerous and pessimism necessary because the line between them seems blurry. He mainly talks about either side of the spectrum rather than where you should actually be.

3)   Questions

a.     What does the author mean when he says that there should be a constant awareness of opportunities everyday, and that a successful entrepreneur starts with one opportunity and their understanding of it will guide them through other issues? Maybe an example would help better explain.

b.     Why doesn’t the author emphasize the idea that going to college or getting a job in a corporation will help solve some of the problems that he pointed out?

4)   I don’t necessarily think the author is wrong about anything in particular but I do feel that he could have included more solutions to problems that he was bringing up because it felt a little discouraging. He possibly could have included advice from other entrepreneurs who have experienced similar shortcomings and how they dealt with them.