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.

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.

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. 

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.

My Unfair Advantage

Resources:

1- Experience with Travel

• V- This is valuable because I can relate to my customers since I have done a lot of traveling for business and pleasure.
• R- This is not rare. Several people have experience with travel.
• I- This is not imitable per se, it is not something someone could deliberately develop, but it is experience that could be organically developed over time.
• N- There is no substitute for experience.

2- Experience with Customer Service

• V- This is valuable because I can draw on my experience in creating wonderful customer experiences and seamlessly addressing customer conflict to grow this skill in this venture.
• R- This is not rare. Several people have experience with customer service.
• I- This is not imitable per se, it is not something someone could deliberately develop, but it is experience that could be organically developed over time.
• N- There is no substitute for experience.

3- Experience with Orlando International Airport

• V- This is valuable because I can draw on my experience in the airport to offer support to others traveling through it who do not know it as well.
• R- This is not rare. Several people have experience in MCO.
• I- This is not imitable per se, it is not something someone could deliberately develop, but it is experience that could be organically developed over time.
• N- There is no substitute for experience.

4- Contacts with Travel Agents

• V- This is valuable because travel agents who book travel can identify customers who have layovers or other circumstances that would lend to the benefit of my product. They can help promote and sell my product.
• R- This is not rare. Several people have contacts with travel agents.
• I- This is imitable. With appropriate networking and promotion, others can gain contacts with travel agents.
• N- There are substitutes for this, such as contacts with other travel agents or travel booking websites.

5- Contacts with Business Travelers

• V- This is valuable because I can promote my product directly to business travelers and their secretaries who book their travel.
• R- This is not rare. Several people contacts with business travelers.
• I- This is imitable. With appropriate networking and promotion, others can gain contacts with business travelers.
• N- There are substitutes for this, such as contacts with other business travelers.

6- Contacts with Suppliers

• V- This is valuable because I will need product from suppliers for my business.
• R- This is not rare. Several people contacts with suppliers.
• I- This is imitable. With appropriate networking and promotion, others can gain contacts with suppliers.
• N- There are substitutes for this, such as contacts with other suppliers, and suppliers of different products.

7- Organization

• V- This is valuable to any business.
• R- This is not rare. Several people are organized.
• I- This is imitable. One can learn organization.
• N- There is no direct substitute for organization.

8- Focus

• V- This is valuable to any entrepreneur.
• R- This is not rare. Several people are focused.
• I- This is somewhat imitable. It is possible to learn to be more focused, but the process is quite involved, and ironically, involves a great deal of focus/ commitment.
• N- There is no direct substitute for organization.

9- Commitment

• V- This is valuable to any professional.
• R- This is not rare. Several people are committed.
• I- This is somewhat imitable. It is possible to learn to be more committed, but the process is quite involved, and ironically, involves a great deal of focus/ commitment.
• N- There is no direct substitute for commitment.

10- Adaptability

• V- This is valuable to anyone.
• R- This is not rare. Several people are adaptable.
• I- This is somewhat imitable. It is possible to learn to be more adaptable, but the process is quite involved.
• N- There is no direct substitute for adaptability.

I think my top resource is commitment, because none of my resources are very strong to make this idea into a reality, so it would require serious commitment to strengthening the other resources and acquiring more.

The Amazon Whisperer

** For this assignment I used TripAdvisor for comparable products/ reviews rather than Amazon due to the nature of my product.

Revenue Drivers:

1- Rooms for Rent - This is my core offering. Single occupancy rooms for rent in short term increments for quiet, security, and privacy to sleep, do work or relax. 

2- Luggage Storage - Space in which customers can store large luggage if they do not need it with them in their room, as space in the room might be limited with the luggage. 

3- Accessories- Such as extra blankets, earplugs, eye mask, pillows.

4- Service- Such as wake up call, shuttle service to/from gate.

The next thing that I think I could offer would be some sort of affiliation with a major hotel or credit card brand, to incorporate payment with reward points. This will foster customer loyalty, as the target customer is primarily someone who travels for business, he/ she likely does so frequently, rather than a one time purchase. Maybe a membership pricing structure could also be beneficial if customers travel through the same airport on a very regular basis.

I found reviews for a similar product on TripAdvisor. This is for Minute Suites in Atlanta (also available in Philadelphia and Dallas.) Customers absolutely love the product, particularly customers who travel frequently and had long layovers. One complaint was that the space was booked when they needed it, so they recommend making a reservation. The other complaint was the price, which is high per hour, but since most people don’t take it for many hours, this was not a strong complaint. Customers love the convenience and particularly love being able to sleep on a red eye or a long layover.

Reading Reflection No. 2

The Art of Social Media - Power Tips for Power Users

-Guy Kawasaki and Peg Fitzpatrick

The general theme or argument of this book is about Social Media, and its power in business for promotion and networking. This book offers guidance and information for beginners who do not know a lot about Social Media, or who would like to get an idea of how to use the tool more effectively to promote their business, product or self.

This book connects with and enhances what we have learned in ENT 3003. Some of these Social Media platforms could be used to gain feedback from the marketplace as we have done in our assignments/ interviews. Each medium offers unique opportunities for environmental scanning, and collection of data regarding a target market and customers’ unmet needs.

If I were to design an exercise for this class, based on the book I read it would be for each person to “Google” themselves, and evaluate their own Social Media persona from the perspective of a potential employer with whom they have applied for a job, or perhaps more relevant to this class, from the perspective of potential investors, customers or strategic partners. The student would evaluate what conclusions they could draw from what they observe - positive and negative - and how that might affect their professional relationships.

This book was designed more with short tips, much in the fashion of social media, rather than text that reads like a novel, with several paragraphs and chapters leading to revelations. As the title suggests, it is a book of “tips” versus a discussion of any particular philosophy, so it did not lend to any particular revelation or “aha” moment. However there were certainly interesting tips that taught me some things I didn’t know. One general concept that differed from my previous understanding was regarding length and frequency of posts. The advice is generally to create frequent posts, in various forms and about various topics. These posts should not be too long, and if there is a lot to say, it should be said in bullet points rather than paragraphs. 

My Secret Sauce

Human Capital I see in myself - 

1- Focus. I stay very focused on my priorities. Common distractions and interruptions do not easily throw me off course.

2- Commitment. I am very true to my commitments. I can depend on myself and others can depend on me.

3- Adaptability. I embrace the concept of constant evolution, making slight changes as I go, without easily becoming frustrated or regretful. 

4- Analytical Thinking. I consider my experiences and knowledge on a very deep level, seeking meaningful understanding.

5- Honesty. I focus on truth in my thoughts and actions, and relate to people and circumstances with sincerity. 

I interviewed the five people who know me the best

Husband 

Sister 

Sister 

Brother In Law 

Best Friend

All the people I spoke with seem to see me very closely to how I see myself, particularly my husband and sisters.  This is in keeping with my inherent personality, as my honesty, analytical thinking, and focus keep me rather in touch with myself. Everyone I interviewed talked about how I approach things methodically and commit while remaining adaptable. I would not change the list, I might add to it, but I truly think these are some of my strongest and truest characteristics, and this was reflected in my survey of my loved ones.

Growing My Social Capital

1. Tusu works at Minute Suites in Philadelphia International Airport.
2. I consider her an domain expert in my industry, as Minute Suites offers a similar product in Philadelphia.
3. I called Tusu on the phone.
4. I asked her a few questions about what they offer, specifically regarding the hours and the prices.
5. With Tusu in my network, I can find out more about what has worked for them, and what customers responses have been.

1. Allia is a travel agent, booking a lot of travel and entertainment in Orlando.
2. I consider her an expert on my market, as she targets the same market I would target for this product.
3. I called Allia on the phone.
4. I asked Allia several questions about travelers habits and preferences, and how they spend time in airports, and what their feedback has been on different airport experiences.
5. With Allia in my network, perhaps we can establish a strategic alliance, and she can suggest my business for customers she identifies who could benefit from it.

1. Angela works at A & A Halal Distributors.
2. She is an important supplier in my industry, as a wholesale distributor of groceries, she supplies snacks and drinks. 
3. I called Angela on the phone.
4. I asked her a few questions about what they could offer such as snacks and drinks with long shelf life, not too messy, convenient for the type of space we are discussing.
5. With Angela in my network, she could provide refreshments for my customers, enhancing the experience, and perhaps even as a revenue driver.

This exercise was the first in which I considered networking contacts from different angles of a business. Networking experiences in the past have focused more on knowing someone who knows someone for a job opportunity. This goes beyond that and considers the relationships with more depth. Approaching network from this angle can lead to a more keen understanding of the value of contacts and relationships.

Ideal Napkin No.2

I am a junior Business major. I plan to pursue my Masters in Accounting or MBA after I complete my BSBA. I am married, and my husband and I hope to have a baby in the next year. If I were to start this business, I would likely be very uninvolved in it’s development and maintenance, as my time and attention are committed to my education and my family. This would require significant capital, as I would have to hire people to manage all aspects of the business. However since I am pursuing a career in business, I would likely be able to benefit from the service of this product if it were in fact implemented.

I would like to offer private, single occupancy rooms for rent by the hour in airport terminals. These rooms would be a quiet, private, comfortable and secure where people can sleep, do work, talk on the telephone, to make more effective and efficient use of their time spent in airports, particularly during layovers. 

I am offering this to travelers in Orlando International Airport. This product can be used by people who arrive very early for their flights due to airline and federal requirements. This can also be used to people who have long layovers, or are experiencing flight delays, although only if their circumstance is somehow unique in the delay. If all travelers from a flight need accommodation, our facility likely would not be able to meet that need. This traveler is likely not responsible for anyone else such as small children or the elderly, as the rooms will be too small to accommodate more than one person. This person will most likely be used by travelers who are on their own, as when people travel with others, they seem to enjoy spending time with their companions. However, there are some times when people traveling with others might need privacy from their companions, so they could benefit from our product. Such as if a member of a family has work to get done on a vacation, it could be an opportunity to get some out of the way to enjoy more time with the family on vacation. People traveling for business can certainly take advantage of this, whether they are alone or with others, as they are less likely to value quality time with their traveling companions. This product is for adults, is not suitable for children without adult supervision. 

These travelers will find value in my product, as they are losing time at their destinations due to the time inefficiently spent in airports as a result of the uncomfortable, noisy, and public conditions.

In my experience, I have found that I am more disciplined, focused and organized than other people. I hold myself to very high standards, and I tend to look at things from angles others do not see. I place strong value in honesty and dependability that has set me apart from my peers. 

I believe these elements fit together, in that travelers in Orlando International Airport could certainly find value in this product, and benefit from using it. The only element that does not fit with this concept is me, as my priorities and commitments do not lie in making this product a reality.

I added how I would use the product, that is a role the business would play in my life I didn’t address in the first version of this post. I added that the rooms would be single occupancy, as this wasn’t clear before and I have gotten a lot of feedback about making sure they don’t turn into sex rooms... not that there’s anything wrong with that. I specified that the most practical time to use this product would be for layovers, as there has been a lot of feedback putting me off the idea of flight delays, as these usually involve a lot of people, and the airline usually sees to their needs. I added the point that travelers who need to do work for school or business while on family vacation could use this to get some of those tasks out of the way to free up more time with the family on vacation, as this is something I really wish I had a few weeks ago when I was working on school full time on my family vacation.

My Customer's Avatar

My prototypical customer is a business traveler, likely female. She is likely between her 30s and 50s. She is someone who prioritizes health and positive experiences. She is responsible financially, but not afraid of spending money for luxuries, if she can rationalize the expense in practical terms. She likes to spend money on things that will enhance her life in terms of functionality or beauty. She thinks outside of the box, and does not simply follow the crowd. She could be single or married, but if married, she likely wears the pants in the relationship. She manages a lot of responsibilities, and is always looking for ways to use her time more effectively. 

I clearly have a lot in common with this person, and I do not think it is a coincidence. I drew on my own experience for the idea, so it makes sense that someone who would use this product has a lot in common with me. I deliberately made a choice to pursue an idea in this class that I felt I would purchase myself.

Elevator Pitch No. 2

Pitch

I did not receive any feedback from the previous pitch, as it did not post due to technical difficulties. Therefore, I am currently posting the same pitch I recorded a couple weeks ago. Based on the feedback I have received in response to the other assignments related to the same concept, I believe this elevator pitch is reflective of what I would like to express at this time.

Alternative & Post Purchase Evaluation

I interviewed three people about their alternative evaluation, purchase decision and post purchase evaluation process as they relate to time spent in airports. 

Interview #1

Interview #2

Interview #3

When people are waiting for their flight, they are likely to evaluate alternatives based on proximity to gate and comfort. For layovers however, depending on the time they have to spend in the airport, security and privacy become more of a concern. At night people search more for somewhere quiet, private and comfortable with an aim of resting or getting work done.

If traveling for business, most people would have this expense covered by their business, so the amount of money they have to spend is determined by their company, but they are free to spend it as they choose. If someone knows they have a long layover planned, they may seek the information in advance, but when waiting for an initial flight, most customers will make their purchase decision on the spot.

When considering past decisions, people have felt satisfied when they feel their experience was comfortable and convenient. 

Practi-gal

I used the word practi-gal to refer women use characteristically feminine practicality. They are practical gals... practi-gals! People have found the term charming, although I haven’t heard anyone else repeat it. Mostly people think it is “cute”. No one has cast any scorn on the term. I feel if used more frequently it could catch on, at least in a small circle. When trying to fit it into conversation I have found that most women are practi-gals!

Halfway Reflection

To keep up with the requirements of this course, I have remained very adaptable and open minded. I don’t have a lot of experience thinking the way that the assignments have demanded, or doing the activities required. I have approached them drawing on the strong experience I do have, which has been to break seemingly overwhelming or unfamiliar objectives down into more manageable tasks so they do not seem as intimidating.

There were times, particularly before my first set of interviews when my feelings of insecurity were heightened. A big help was when I decided to audio record the conversations rather than video recording them. This took a lot of pressure off. 

Some tips for next semester’s students:

1) Schedule your first interview with someone very close to you, to help work out some of the bugs of the process. It’s a good idea to speak with people you don’t know for your interviews in general. But I interviewed my sister first, which helped put me at ease while I got used to the process.

2) Read ahead on assignments. I find it helps guide my general direction to have an idea of how the assignments are broken down, to really focus on the appropriate concept of the current assignment. This way I am not focusing accidentally on something that we will learn how to focus on more effectively in a future assignment.

3) Just do it! Even if I feel like I sound silly, or I feel unsure of what I am doing, it is always a big relief once I rip off the proverbial band aid and just get it done. Frequently once it is done I am more comfortable fixing it if I need to.

Need Awareness and Information Search

I interviewed three people who expressed a need for private rooms in airport terminals at Orlando International Airport.

Interview #1

Interview #2

Interview #3

I found that they generally identify their need when they book their travel. They do not usually plan in advance how they will spend their time waiting, even when they identify the need to fill the time. I found they mostly look around the terminal to determine a way to make effective use of their waiting period. Most people get something to eat and try to find somewhere comfortable. There seems to be more interest in finding a place to sleep than to do work. The people I interviewed look for comfort, security for their belongings and convenience in proximity to charging stations. 

Reading Reflection No. 1

I read Coco Chanel by Lisa Chaney. I did not previously know anything about Gabrielle Chanel’s life or development of her career, so I was surprised by everything I learned.

I admire that she did not accept circumstances that she did not find satisfying. I admire that she found creative ways to find satisfaction. I admire that she embraced her independence and sexuality.

I did not find much that I did not admire about her. The chips were stacked against her with her upbringing, so while I could criticize her for her insecurity, discontentment, and disillusionment I can certainly understand where those feelings originated. In fact I admire that she used these feelings of disillusionment to empower her to move forward with revolutionary ideas and lifestyle choices, even if she felt insecure about her abilities or success at times.

She did encounter adversity and failure in her attempts at becoming an actress and a dancer. She adapted, and found ways to get by. She used the resources she gained through these experiences to fuel her success.

I certainly noticed that she exhibited some of the competencies we have discussed in class. I found it interesting that her initial business seemed to stem from the identification of her own unmet need for independence and a sense of control over her life. She used her talents and resources to satisfy these needs. 

 I was slightly confused by the historical context of the book, as I am not very knowledgable about French history, and the names and terminology became a bit complicated for me to follow, mostly because of the language barrier. 

I would like to ask Gabrielle Chanel what she thinks of this depiction of her journey. Does she find it accurate in terms of events and more importantly the interpretations of her emotional and personal journey through these events? I would also be interested to know her opinion of the current Chanel brand.

I think Gabrielle valued hard work, which is why she was discontent with the simple life of a mistress in the first place. She was not satisfied to live the leisure life of a kept woman, and she consistently engaged in extracurricular activities, which leads me to conclude she valued learning as well as hard work. 

Idea Napkin No. 1

I am a junior Business major. I plan to pursue my Masters in Accounting or MBA after I complete my BSBA. I am married, and my husband and I hope to have a baby in the next year. If I were to start this business, I would likely be very uninvolved in it’s development and maintenance, as my time and attention are committed to my education and my family. This would require significant capital, as I would have to hire people to manage all aspects of the business. 

I would like to offer private rooms for rent by the hour in airport terminals. These rooms would be a quiet, private, comfortable and secure where people can sleep, do work, talk on the telephone, to make more effective and efficient use of their time spent in airports.

I am offering this to travelers in Orlando International Airport. This product can be used by people who arrive very early for their flights due to airline and federal requirements. This can also be used to people who have long layovers, or are experiencing flight delays. This traveler is likely not responsible for anyone else such as small children or the elderly, as the rooms will be too small to accommodate more than one person. This person will most likely be used by travelers who are on their own, as when people travel with others, they seem to enjoy spending time with their companions. However, there are some times when people traveling with others might need privacy from their companions, so they could benefit from our product. People traveling for business can certainly take advantage of this, whether they are alone or with others, as they are less likely to value quality time with their traveling companions. This product is for adults, is not suitable for children without adult supervision. 

These travelers will find value in my product, as they are losing time at their destinations due to the time inefficiently spent in airports as a result of the uncomfortable, noisy, and public conditions.

In my experience, I have found that I am more disciplined, focused and organized than other people. I hold myself to very high standards, and I tend to look at things from angles others do not see. I place strong value in honesty and dependability that has set me apart from my peers. 

I believe these elements fit together, in that travelers in Orlando International Airport could certainly find value in this product, and benefit from using it. The only element that does not fit with this concept is me, as my priorities and commitments do not lie in making this product a reality. 

Testing the Opportunity Hypothesis Part 2

I conducted five interviews with potential customers for private rooms rentable in 30 minute increments in Orlando International Airport.

Interview #1

Interview #2

Interview #3

Interview #4

Interview #5

I found that those who would be customers for my product differ from those who would not based more on the circumstances at a given situation rather than the individual themselves.

For example, parents would not be likely to use these products and associated services when they are traveling with their children. In that case, they would likely let the children sleep in the airport, and they would go without sleep. They would not likely have work to get done if they are traveling with their kids, at least not so much that they would require a private, quiet comfortable space to complete it. The most obvious reason is of course they would not leave their children unattended.

Time is also a significant factor. For example, most people said if their wait in the airport is under 3 hours, they would not require a private, comfortable quiet place to sleep or do work. On the other hand, most people said if their wait was over 6 hours they would likely get a hotel room.

Some people, young men in particular said they don’t have much trouble sleeping in noisy public places, as long as there is a place for them to lay horizontal. Security and privacy were not as much a concern for them.

Of course another significant factor would be price, as some people I spoke with would not want to pay anything for such a service, they would rather stay uncomfortable.

Most people said they would not want to use this product or service if they are traveling with family, as they would prefer to stay together. However, some would be willing to split up, if all members of the family are adults, particularly if everyone would like their private space for a short period. 

Inside the Boundary: 
Who is in: People with time in the airport that they do not feel is being used efficiently who are in need of quiet, privacy and comfort for themselves only.
What the need is: Private rooms for use by a single person in need of short term quiet, privacy and comfort
Why the need exists: People are stuck in the airport and some do not feel they are able to make efficient use of their time due to lack of privacy, quiet and comfort.

Outside the Boundary:
Who is not: People traveling with groups or families, with very little or very much time between flights.
What the need is not: Somewhere for couples, families or groups to get privacy, quiet and comfort. Somewhere for a single person to get privacy, quiet and comfort long term.
Alternative Explanations: People feel they can creatively make use of their time without privacy, comfort or quiet.

Tweaking the Innovation

Revenue Driver: Rooms for Rent

Item: Bed only

Benefit: Sleep

Tangible: Bed for one in private room

Augmented: Private, comfortable, quiet, more affordable than hotel room

Item: Desk only

Benefit: Work

Tangible: Desk space for one user in private room

Augmented: Private, comfortable, quiet, more affordable than hotel room

Item: Bed and desk

Benefit: Sleep and/or work

Tangible: Bed with work surface and chair for one user

Augmented: Private, comfortable, quiet, more affordable than hotel room

Revenue Driver: Luggage Storage

Item: Large locker

Benefit: Luggage Storage

Tangible: Locker large enough for carry on suitcase and personal item

Augmented: Secure

Item: Small locker

Benefit: Luggage Storage

Tangible: Locker large enough for carry on suitcase or personal item.

Augmented: Secure

Revenue Driver: Accessories

Item: Eye mask

Benefit: Helps some people sleep

Tangible: Standard black eye mask

Augmented: Aids relaxation.

Item: Earplugs

Benefit: Blocks out noise 

Tangible: Standard earplugs

Augmented: Creates quieter sleeping environment.

Item: Universal device charger

Benefit: Ability to charge devices.

Tangible: Device charge that has attachments to fit the most common electronic devices.

Augmented: If your charger is in luggage, or if you forgot it, you can still charge.

Item: Extra Pillow

Benefit: Extra head padding

Tangible: Extra standard pillows

Augmented: Sleep experience more personalized/ comfortable.

Item: Extra Blanket

Benefit: Extra warmth 

Tangible: Extra blanket 

Augmented: Sleep experience more personalized/ comfortable

Revenue Driver: Service

Item: Wake up call

Benefit: Customer will not miss their flight

Tangible: Someone will wake them up at the requested time

Augmented: Less stress, customer does not have to worry about alarm dependability.

Item: Netflix

Benefit: Entertainment

Tangible: Netflix streaming available in private room for a fee

Augmented: Entertainment for people who prefer to sleep with TV on.

Item: Shuttle to/from gate

Benefit: Transportation if people’s gate is far from the location of rental rooms.

Tangible: Golf cart that drives customer to gate at requested time, or brings customer to rental rooms from gate upon request.

Augmented: Eliminates the problem of having to find and get to the rental rooms.

Item: International calling

Benefit: In case of delays, particularly international guests can call anyone who might need to be contacted regarding the details of their amended travel plans.

Tangible: International phone calls available for a fee.

Augmented: Extends benefit of rooms beyond privacy, comfort, quiet.

Item: Wifi (if not available in airport - already available in OIA)

Benefit: Facilitates work, communication, entertainment.

Tangible: Password protected Wifi available for a fee.

Augmented: Customers can make more productive use of their privacy, comfort, quiet.

Item: Music

Benefit: Entertainment

Tangible: Music available in sound system in room at requested volume and genre.

Augmented: Entertainment for people who prefer to sleep with some background noise.

Item: Magazines

Benefit: Entertainment

Tangible: Magazines available upon request covering different areas of interest

Augmented: Entertainment for people who like to read while they are relaxing.

Testing the Hypothesis Part 1

People traveling through several major international airports aren’t able to make the most efficient use of their time spent in airports because of a lack of space, privacy and quiet.

Two years ago, my husband and I went to Paris. (He wasn’t my husband yet, we got engaged on that trip.) Our flight traveled through the evening, and arrived in Paris at 6am, which was midnight “our time”. I usually sleep at midnight, so I didn’t sleep on the plane, but as soon as we arrived I started to drag bigtime. We could not check into the hotel until noon, so we ended up sitting in a cafe for several hours, very grumpy and exhausted.

This was not the first time I wished I could have a quiet place to take a nap in the airport. It is also an issue with long layovers. Other times when a flight gets delayed, hours get wasted. It is a particular disturbance on short trips, where you do not have the buffer to adjust to the time / sleep difference.

I discussed this challenge with 5 people:
Interview #1
Interview #2
Interview #3
Interview #4
Interview #5

This is not a problem for all travelers. There are a handful of airports in the USA and internationally with napping pods, and airport hotels with day use rooms. First class lounges in some hotels contain nap rooms. Some travelers “can sleep anywhere”, and do not have trouble sleeping in the airport or on the plane as needed.

In Orlando International Airport, however, in the top 20 busiest airports in the USA, and top 35 in the world, there is no such amenity.

The biggest issue seems to be with losing sleep, but also there is a need to get work done. Multitasking is trending in our culture, and the loss of time is becoming increasingly frustrating, as we are getting increasingly accustomed to doing many things at once.

My Solution

An ideal solution to the problem of lost time in Orlando International Airport would be private rooms, available 24 hours, with short rentals, such as 30 - 60 minute increments. These rooms would be only large enough for single occupancy. You can keep your luggage in a locker outside the room. There would be minimal furnishings: space to comfortably sleep, talk on the phone, or work on the computer. There would only be a few, perhaps 4-6, as these rooms would be located in retail spaces between security and the gate, where there are shops and restaurants. 

Looking For Opportunity

Economic Trend: Multigenerational Households

Multigenerational households have been increasing in quantity. Economic factors have contributed to this, the number began to grow with the recession that began in late 2007. Recent college graduates have moved back home if unable to support themselves, and grown children and elderly parents are also sharing households.

I heard about this economic trend in my Marketing class, and it was further substantiated by an article in The New York Times. The article is from 2013, but based on the Marketing text, this trend continues.

This suggests an opportunity could exist for developers to build homes suited for this type of family, or adjoining apartments. This could also be an opportunity for “adult-sitting”, hourly care for elderly relatives who can not be safely left by themselves, for when the adult children in the same household may be unavailable, just like babysitting, but for adults.

Families with multigenerational living arrangements or needs would be prototypical customers. The specifics could vary from family to family depending on who is making decisions about the living arrangement, why the arrangement is coming about, and whether members of the family require assistance.

The opportunity could be relatively easy for a home builder, it would involve introducing new models, which is likely something they already have infrastructure in place to do. The idea of “adult-sitting” would be even easier, even a local teenager could do it just like babysitting.

My experience with my family is the reason I can relate to this trend. I am very close to my family, and we have considered the option of a multigenerational living arrangement as some members of our family have gotten older. 

Economic Trend: Employees Gaining Power in Labor Market

According to this article in The New York Times, the labor market is slowly and gradually tilting in favor of employees. This means companies are working harder to attract good employees.

This suggests an opportunity could exist for a third party to offer competitive employee benefit packages to employers. An insurance company could introduce a new type of coverage to be covered in employee benefit packages. An entertainment company could create team building entertainment to be packaged and sold to the employers to give them a competitive advantage in offering a unique and interesting benefit to the employee. Clubs or venues could create organizational packages in which the organization (employer) has a membership for all of its employees, so the employer can offer this to potential employees as a benefit. All of these benefits could represent a savings to the employers if they offer a benefit to the employees that would cost the employer less than paying them a higher wage or salary.

This opportunity could be relatively easy or difficult depending on what type of business would like to take advantage of it, and how much infrastructure they already have in place for carrying out one of these ideas.

I am enthusiastic to see this trend beginning about a year before I am done with school. I hope this trend will continue, and companies will offer exciting benefits to employees joining their organization.

Regulatory Trend: Carbon Pricing

In this article in The New York Times the president of the World bank urged people to prepare for regulations requiring fossil fuel polluters to pay for the carbon dioxide they emit.

This could represent an opportunity for new materials and methods at companies with large carbon footprints. Such innovations could benefit the company if the savings in emissions would equate to prevention of some of those fines. I imagine this opportunity is relatively difficult to exploit, because there are large scale research and development teams, facilities and organizations dedicated to this purpose.

In this instance, I don’t think I am the only one who would have seen this as an opportunity. I think the factor preventing this solution is more a technological one, and I do believe it will continue to be solved gradually, rather than one “aha” moment.

Regulatory Trend: Legalizing Marijuana

As discussed in this article in The New York Times, more states are legalizing the substance, and lawmakers are having a challenge measuring whether a person using marijuana is too impaired to drive. 

This could be an opportunity for a test that effectively determines one’s level of impairment. It is discussed in the article this is a difficult task, as traces of THC remain in your blood much longer than the user will feel any impairment. Furthermore, regular users may not be impaired, even immediately after use. These facts make it seem difficult to exploit this opportunity.

If the customer for these tests could be police departments, and other regulatory agencies. Depending on the level of complexity and the affordability of the tests, they could be sold directly to consumers who wish to test their own level of impairment, perhaps before deciding to drive.

One reason this does not exist is likely because the cost of developing such a test has outweighed the potential benefit, especially since until recently, any marijuana use at all was an offense. However, with the changing regulations related to the substance, maybe this idea is becoming more valuable and the research can be carried out.