Monday, August 1, 2016

Final Reflection



The most formative experiences for me was recording the interviews. I did not have as much discomfort talking to people about my idea, but when I asked for it to be recorded, this made me very uncomfortable. Once I did the first few, I was very proud that I had overcome that discomfort, and expanded my comfort zone. That’s not something you do every day!

I certainly think the exercises in this class moved me closer to developing an entrepreneurial mindset. I do understand the idea that we were not simply learning about entrepreneurship but doing the act itself, which I think it a very valuable approach. 

I would recommend starting your few interviews with someone you know to get through some of the butterflies. The assignments are designed such that you can usually arrange to have people you know fit into the first assignment for interviews, then once you come up with your long term idea, you will be more comfortable to venture outward away from your existing circle.


To foster the mindset I would recommend not to focus too much on the quality of the ideas, but rather the authenticity of whether you are doing the assignment. Even if you are not going to be the next Shark Tank hit, going through the process with a so-so idea can help put you in the right mindset that will lead you to inventing sliced bread. 

Venture Concept No. 2



Millions of people travel every day. Orlando International Airport is the 13th busiest airport in The United States, and the 31st busiest in the world. People traveling through this airport are not able to make effective use of their time. Particularly business people with long layovers. The environment in the airport is too noisy, public and uncomfortable. They are not able to get work done or sleep. Many people arrive at their destination behind on their work or sleep. 

Currently if someone in the airport needs to do work, they try to get these things done in a few ways. Some people set their computer up on their laps, and maybe put in headphones to drown out the noise. This is still noisy, as one needs to have their volume up in their headphones in order to drown out the noise. If making phone calls is an important part of their work, there is frequently a lot of background noise, which interferes with these conversations or prevents them altogether.

Some travelers look for a bar or restaurant so they have a surface to work on. In this instance they are paying for the convenience of a surface, as they have to buy food and drink in order to use the restaurant. This also adds the complication of having food and drink on your surface where you are trying to work.

In both of these circumstances, finding space near an outlet is a problem that people face. Sometimes they end up sitting on the floor or in corners, or asking other people to share their space. 

When it comes to sleep, there are issues of comfort, security, privacy and quiet. People generally try to find a comfortable position to sleep on the chairs in the gate while they wait for their flight. There are several people around, and they have to find creative ways to hold their luggage while sleeping. There are frequently many people around making the environment loud. It is bright, there are no pillows or blankets, and little opportunity to get horizontal. It is not uncommon, depending on the time of day/ night, to see people sleeping on the floor, using backpacks, purses or suitcases as their pillow, and jackets as their blankets. 

The Orlando International Airport Hyatt Regency Hotel has something called Day Use Rooms aimed at satisfying this need. However, they fall short in that they are only available from 10am to 6pm. This leaves 16 hours per day when travelers through Orlando International Airport are not able to get any privacy, comfort or quiet. 

I would propose the introduction of private rooms, rentable by the hour, available 24 hours a day, 7 days a week. These rooms would be available only for single occupancy rented for $40 per hour. The idea of off peak pricing might help generate additional income that might otherwise be lost during hours when customers are less likely to need sleep.

The rooms would be furnished with outlets for devices, a small television, a twin sized bed, and adjustable lighting. This would be a place a traveler could sleep for a period of an hour to a few hours. It can also be used to make phone calls, or just relax in peace and quiet. 

There would be optional luggage storage available, as well as accessories, such as extra blankets, pillows, earplugs, eye masks. Additional services would be available to make this product more accessible, such as shuttle service to and from their gates, and wake up calls to help them make sure they get to their flight on time. Customers will be kept informed of any changes, such as delays, in their flight schedule.

Facilities like this exist in other cities in The United States, such as Atlanta and Philadelphia. The primary customer for this product is the business traveler. It is particularly popular for layovers, more than for time before flights. It is more likely that customers will use this product at night, rather than during the day, as it is used more for sleep than work and privacy. However it is sometimes used for work and privacy.

It is important that this facility be located near one of the busier gates. The shuttle service will help make this more accessible to travelers through other gates who might still need the amenities offered. It would be beneficial if this product could be offered through travel websites or travel agents, so the customer is aware of it at the time they become aware of their need (for instance, a long layover or a late night flight). This way the customer does not have to take their time at the airport searching for a way to fill their time, or sleep or work. The whole point is to make efficient use of time.

To continue the success of this business, it will be important to constantly examine the experiences and feedback of our customers. It will be important to keep track of travel trends, including security and the reduction of business travel enabled by the internet. 

An alliance with a credit card company or airline could be strategic. If this product could be purchased with reward points or “miles”, this would increase traffic, as many business travelers use these reward systems as an integral part of paying for their travel.

Another way to grow the business moving forward could be to expand to families. Especially considering the city of Orlando, and the mass appeal to families. Parents frequently get overwhelmed with their children in the environment of the airport, and children are on different sleep schedules, sometimes needing to sleep in the middle of the day. If this product could be offered to families who need a place for their children to sleep, or even just calm down, this could be a smart new market to approach. 


The feedback I received was mostly positive, the only suggestion that I used to update my Venture Concept was the idea that there is not a lot of space available in the airport, so I considered how I can make the Venture generate a bit more revenue to remain competitive with other vendors near the gate in the airport. This brought me to the idea of off peak pricing, particularly to compete with the other product available at the airport Hyatt.

Friday, July 29, 2016

Making It Real

https://www.dropbox.com/s/u5d4n7xp0gh6hwp/Resume.pdf?dl=0

My Exit Strategy



I will sell this idea to anyone who wants to make it into a business. I would select this exit strategy because at this point in my life, I believe I could spend the time and the money in ways that I find more fulfilling. I think with this in mind, it has influenced the concept throughout the semester, as I have considered how I think things would be done best, not necessarily how I think I would do things best. It has made me consider resources available to others, which might not necessarily be available to me.

Friday, July 22, 2016

Celebrating Failure

I work as a nanny for two awesome kids, they are 1 and 2 years old. This year I agreed to go with their mother to take them to swim class. This was the only way she could take them both at the same time, otherwise she would have to schedule two separate classes for them. We were the only people in the swim class, and it was at a public pool, so we weren’t allowed to take the kids in the pool before the class started. They both love playing in the pool in general, but they were in an unfamiliar place, and as soon as we got in the pool, they had to do certain exercises, and they didn’t have any time to play and have fun, get comfortable.

This did not go well. The kids were frustrated and scared, and they both wanted their mom. They were not doing anything the instructor asked, and they just ended up crying the whole time. (This is not like them, by the way, they are nice, agreeable, cooperative kids in general). 

After two classes, we realized it wasn’t working at all, and we decided to quit the class. We used what we learned from the experience to hire someone who would come to the house to teach them in their pool at home. They had an absolute blast and ended up loving their class and their new teacher. Both of them learned so much.

I think this experience is a good representation of how failure is experienced and overcome in general. We saw something wasn’t working, considered what about it wasn’t working, and changed our plan according to those observations. In that way we were able to turn a failure into a success. 

We are all just doing the best we can, all of our decisions and perceptions are based on the limitations of our experience and knowledge. “Failure” is an invaluable extension of that pool of experience and knowledge. This can be a powerful component of those sources on which to draw when making decisions or perceiving things moving forward.


This class has not changed my perspective on failure in general, but it has changed my perspective on something that I have always been uncomfortable with, which is approaching people for business reasons. I am very social, and I don’t have any issues addressing people in social settings, but addressing them for business reasons as we have had to do in this class has given me an uncomfortable feeling. Ripping off the proverbial band aid has helped me overcome that discomfort.

Venture Concept No. 1

Millions of people travel every day. Orlando International Airport is the 13th busiest airport in The United States, and the 31st busiest in the world. People traveling through this airport are not able to make effective use of their time. Particularly business people with long layovers. The environment in the airport is too noisy, public and uncomfortable. They are not able to get work done or sleep. Many people arrive at their destination behind on their work or sleep. 

Currently if someone in the airport needs to do work, they try to get these things done in a few ways. Some people set their computer up on their laps, and maybe put in headphones to drown out the noise. This is still noisy, as one needs to have their volume up in their headphones in order to drown out the noise. If making phone calls is an important part of their work, there is frequently a lot of background noise, which interferes with these conversations or prevents them altogether.

Some travelers look for a bar or restaurant so they have a surface to work on. In this instance they are paying for the convenience of a surface, as they have to buy food and drink in order to use the restaurant. This also adds the complication of having food and drink on your surface where you are trying to work.

In both of these circumstances, finding space near an outlet is a problem that people face. Sometimes they end up sitting on the floor or in corners, or asking other people to share their space. 

When it comes to sleep, there are issues of comfort, security, privacy and quiet. People generally try to find a comfortable position to sleep on the chairs in the gate while they wait for their flight. There are several people around, and they have to find creative ways to hold their luggage while sleeping. There are frequently many people around making the environment loud. It is bright, there are no pillows or blankets, and little opportunity to get horizontal. It is not uncommon, depending on the time of day/ night, to see people sleeping on the floor, using backpacks, purses or suitcases as their pillow, and jackets as their blankets. 

The Orlando International Airport Hyatt Regency Hotel has something called Day Use Rooms aimed at satisfying this need. However, they fall short in that they are only available from 10am to 6pm. This leaves 16 hours per day when travelers through Orlando International Airport are not able to get any privacy, comfort or quiet. 

I would propose the introduction of private rooms, rentable by the hour, available 24 hours a day, 7 days a week. These rooms would be available only for single occupancy rented for $40 per hour. The rooms would be furnished with outlets for devices, a small television, a twin sized bed, and adjustable lighting. This would be a place a traveler could sleep for a period of an hour to a few hours. It can also be used to make phone calls, or just relax in peace and quiet. 

There would be luggage storage available, so the travelers can keep their luggage secured. If the customer prefers to keep their luggage with themselves, and if it can fit comfortably in the room with them, then they do not have to use this service.

There would be accessories available, such as extra blankets, pillows, earplugs, eye masks. Additional services would be available to make this product more accessible, such as shuttle service to and from their gates, and wake up calls to help them make sure they get to their flight on time. Customers will be kept informed of any changes, such as delays, in their flight schedule.

Facilities like this exist in other cities in The United States, such as Atlanta and Philadelphia. The primary customer for this product is the business traveler. It is particularly popular for layovers, more than for time before flights. It is more likely that customers will use this product at night, rather than during the day, as it is used more for sleep than work and privacy. However it is sometimes used for work and privacy.

It is important that this facility be located near one of the busier gates. The shuttle service will help make this more accessible to travelers through other gates who might still need the amenities offered. It would be beneficial if this product could be offered through travel websites or travel agents, so the customer is aware of it at the time they become aware of their need (for instance, a long layover or a late night flight). This way the customer does not have to take their time at the airport searching for a way to fill their time, or sleep or work. The whole point is to make efficient use of time.

To continue the success of this business, it will be important to constantly examine the experiences and feedback of our customers. It will be important to keep track of travel trends, including security and the reduction of business travel enabled by the internet. 

An alliance with a credit card company or airline could be strategic. If this product could be purchased with reward points or “miles”, this would increase traffic, as many business travelers use these reward systems as an integral part of paying for their travel.


Another way to grow the business moving forward could be to expand to families. Especially considering the city of Orlando, and the mass appeal to families. Parents frequently get overwhelmed with their children in the environment of the airport, and children are on different sleep schedules, sometimes needing to sleep in the middle of the day. If this product could be offered to families who need a place for their children to sleep, or even just calm down, this could be a smart new market to approach. 

Saturday, July 16, 2016

Elevator Pitch No. 3

Pitch

The main critique from my first pitch was that it was difficult to hear what I was saying from the location, and that I should make it a bit more formal with my attire and by taking off my sunglasses. Those are the differences between the previous pitch and this one.