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.