30A - Final Reflection

Christina Thompson
Chairman of Rec Sports Board of Directors and Cycle Instructor

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?

I really enjoyed the blog post about one's "secret sauce." I was informative to understand myself and how I contribute to society. It made me feel good hearing and knowing my friends thoughts on me and my work ethic. I am proud of creating a venture concept which I could potentially open up one day. I believe this concept to be legit and I am extremely passionate about it. I understand all the factors which will go into creating, opening, and operating this service. If I do not open a cycling studio which infuses mindfulness and breathing techniques into the rides, I hope someone else sees the need for this and creates an impactful community which can help college students elevate their stress. All I can do now, I be an effective and intentional cycle instructor for my participants at UF's Rec Sports; as well as, listening to the needs of my peers and representing them as the Chairman of Rec Sports Board of Directions.

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

I 100% see myself as an entrepreneur. The concepts of business and their processes really intrigues me. Currently, I am pursuing accounting because one day I either want to create my own business or be in the C-Suite of a company. Actually, this past thanksgiving break my parents were reflecting on my work ethic since I was a little girl and said they see me accomplishing these things. I have always have had an entrepreneurial mindset. When I was little I created my own business cards for babysitting services and placing them at the salon my mom goes to, made a dog walking company, and even now developed a fitness and health Instagram (@ms_fit_foodie). This class has allowed me to see the logistics and hard work that comes with becoming an entrepreneur.

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?

To be in this class, students need to be disciplined and effective with their time management skills. With this, students need to plan ahead and set goals when working on blog posts. By writing down and looking at what one needs to do in this class, allows for a clear focus on deadlines and accountability. In addition, I recommend them to invest into their peers blog posts and to provide constructive feedback. Throughout the semester, I believe I have fostered relations with the various students in my blog posts who have continuously provided constructive feedback for my Venture Concept. In addition, I provided more insightful comments to those who did the same for me. This feedback can help you alter your strategies by showing you their beliefs and one can learn a lot from others' perspectives. Also to foster an entrepreneur mindset, students need to believe in their product and service. They need to be passionate about their opportunity and to believe it can actually succeed. If they develop a concept they are not enthused about, their blog posts and work will become mundane.

29A - Venture Concept No. 2

Venture Capital No. 2 - Zenergy Cycling Co. 

Opportunity:

• The opportunity is to create a Wellness Cycling Studio called Zenergy. This is a cycling studio which creates a dynamic form of group exercise that fuses indoor cycling with meditation and wellness. The environment promotes an uplifting culture on and off the bike. There are a diverse group of classes which caters to an individual's workout goals. Each class should leave the rider feeling  energized and rejuvenated. The main mission of these classes is to decrease stress and increase productivity. Since our mind and bodies are interconnected, this will allow one to find time to relive their stress.
•  College Students have a high need for this service since they are faced with various pressures to perform well. Students do not pause and take time for themselves and therefore the nature of this need is crucial. Through exercise, one can focus on various dimension of wellness such as exercise, nutrition, mindful, and social. Exercise and wellness can decrease mental health issues which are more relevant now compared to previous decades.
• Factors creating the opportunity for this service:
• Increasing awareness for mental health
• Living in a more sustainable environment
• Focusing more on their physical and mental needs.
• Forces aiding to this movement:
• Wearables
• demand for healthy foods
• new exercise services
• health care costs
• The main targeted customer group are college students from the University of Florida in the Gainesville. In addition, professors, Gainesville locals, and any able body person are welcome to attend classes.
• This demographic is currently satisfying this need by taking group fitness classes at Rec Sports, going to YogaPod, and Orange Theory. As a whole, I would say out of all the students who try these services 20% are extremely loyal while 40% attend classes on a convenience base and the other 40% do not attend classes at all.
• The opportunity to create a new and innovative cycling studio in Gainesville is somewhat big. Many students love cycling at a specific studio at home. Currently, the only place to attend cycle classes in Gainesville is at the Recreational Center. The classes offered her are great, but they do not provide the same quality of customer service and intimacy as boutique cycle classes. This window of opportunity is not opened for long. Gainesville has been rapidly growing and expanding. With this, there has been an increase in gyms and fitness related concepts. This past year they opened YogaPod, and now they are currently opening an Orange Theory.

Innovation:

• For students:
• Individual class = $15
• 5 Class Package = $50
• 10 Class Package = $85.
• Unlimited Monthly Package = $100/month.
• Note: The pricing structure of these classes is still below market rate due to college students' lack of income. Therefore, they need to show a valid student ID. In addition, rider's first class is free of charge.
• For non students:
• Individual class = $20
• 5 Class Package = $60
• 10 Class Package = $100.
• Unlimited Monthly Package = $120/month.
• Note: This prices of these classes still more affordable compared to other studios in the area.  First class is free of charge.
• Our initial profits will mostly be from those in Greek Life due sororities and fraternities increasing our marketing and philanthropic efforts. We will contact these organizations to book customizable group rides at $10/person. The organizations can make song request. In addition, these rides can also be a fundraising event for a charity of choice.  I chose this market to start with because if one of these organizations partake in this service, it is extremely likely for others to follow this trend.

Venture Concept:

• Students will buy my product if they are concerned with their mental and physical health. They will be able to attend classes on a weekly basis. We have a diverse schedule which will provide classes before classes, during lunch, and after classes. In addition, the studio will be located no more than 5-10 miles from the University.
• Individuals with incomes my product to demonstrate community involvement and health awareness. In addition, they can promote this studio by word of mouth. Since there are many local health related restaurants and fitness clothing stores, there is potential for a joint marketing push. Consumers are looking to businesses to be responsible somehow, at Zenergy we offer a multiple of ways to give back to the Gainesville Community.
• Sororities and Fraternities will buy these services because it does something good for them and their community. This is a new social initiative with brings awareness to mental health through exercise. A trend can be started here.
• There will be a "switch" for customers to join Zenergy. The current cycle classes offered at for free through the Rec Center. To combat this, we are offering every first ride free. In addition, there are many discounts and advantages for students to attend these classes. For nonstudents, there is not a switch to start partaking in cycling since there are no other studios in the Gainesville Area. In all, we are keeping the costs relatively affordable because we know financials can aid as a stressor to mental health. 
• Major competitors (they only offer a different service) -
•  YogaPod, Orange Theory, and other gyms are competitors
• These services have been offered to me, but I have not tried due to the pricing structure and better alternatives for group fitness.
• Price points: This is very important for my services success. If I am too expensive, many students will not attend these classes. In addition, if my costs are too minimal I will not be able to profit.
• Distribution: I would target Greek Life first to increase awareness of my product. Once a handful of organization have members attending my classes regularly, I will start bringing my glasses to Gainesville as a whole and team up with other local businesses. They can help advertise my company by putting flyers or coupons at company. This can help show their company is also dedicated to the mental and physical health of their clients. My logo will be unique and distinct so students can recognize it on stickers, shirts, etc. While I’m not expecting a lot of revenue from this last phase, it is important my services are recognized and build a positive community in and out of the studio.
• Customer Service: Since the company is built upon care for mental and physical wellness friendly customer service is critical to the success of my operations. My instructors will go through auditions and interviews to ensure they are passionate about teaching and brining this mission / mindset to our community of riders.
• Location: College towns; Preferable 5-10 miles away from campus
• Employees:  I’m estimating around 10 employees to begin with.
• Me - Owner and Operator
• I will conduct HR Recruiting
• 4 other instructors to teach the classes.
• Student Intern - Marketing:  Will be in charge of social media awareness, website, gaining customers from their collegiate organizations, etc. The brand and image is crucial to Zenergy's success.
• 3 front desk / student ambassadors – these employees can seek student that relate to this concept. In addition, they will be responsible for the day to day operations of the studio - like cleaning, checking in riders, and providing positivity to others who enter our studio.
• Unfair advantage:  I believe one of my best recourses is my established social capital.  I already have an established network of cycle participants and cycle instructors. This leverages this business venture. I am able to gather feedback, try out this services, acquire employees, and create a community following before Zenergy is completely up and running. This unfair advantage is dependent on my "secret sauce" and how I interact with others. Since this resource is social capital, it can lead me to more clients, financial capital, knowledge, marketing coverage, and resources. These participants and Greek Life Contacts can and will be able to open doors to other contacts and perspectives I am currently unaware of.
• What’s next: I want to spearhead charity rides based off of the University Athletic Teams. For example, having 15 football players ride in honor of Veterans. This will create amazing publicity for Zenergy, the team, and Dan Mullen. Also make my rides more inclusive for the international students at the University of Florida.
• For Me: As an entrepreneur, I love to tackle more health related issues in an innovative way. Each day I try to bring goodness into the world and make the day better than the last. In five years, I hope to be launching Zenergy in Tallahassee and targeting the students at Florida State. In 10 years, I want to have launched another studio through out Florida and potential at other SEC schools like Georgia, Auburn or Alabama.
• Feedback:
• Admiration to keep the business private and in my control and sticking to the values of the company
• Detailed and thoroughly planned out venture capital plan
• Pricing Structure is effective
• Creative to offer different classes and target all demographics of students
• How I adapted:
• Made the information more clear and concise
• Added my outreach to international students
• Did not include "Exit Strategy"

28A - Your 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 do not plan on selling my business in the short term and for a large return. I want to keep the company private and under the control of a limited amount of people. Because of this, I am looking to stay with Zenergy until I retire. Since Zenergy is a company founded off of exercise and mindfulness, I will most likely promote a manager // highly trained and qualified instructor to run the business I created. After I retire, I still will be investing into the company and have a say on our business operations.

2) Why have you selected this particular exit strategy?

I have selected this exit strategy because I want to preserve the mission, values, and culture of Zenergy. I do not want a contract organization to come and change the integrity of the cycling studio. In addition, Zenergy creates intimacy and family community among riders. If management is transparent and viewed as a peer, most clients will feel trusted in the services provided. Since I do not know if my children will possess the same passion for wellness and exercising, I intend to pass the company to someone I trust will preserve Zenergy's values and keep our customer's health a priority.

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?

This exit strategy limits my growth intentions. As an owner and operator, I want to be seen by my riders and I want to be able to hear their needs. For the first couple of years, I will commute around the South East region looking over and teaching at few Zenergy Studios. If I see more of growth opportunity, I will consider franchising the business to a person who truly shares the same values and mission as me. In addition, the next owners need to be highly motivated, understand others emotions, and be dedicated to eliminating stress for others. Also, those leading Zenergy need to have a similar advantage with their social capital, human resources, financial capital, etc. They need to be able to financial support our mission, and have the community/resources to back up their studio.

26A - Celebrating Failure

1) Tell us about a time this past semester that you failed -- whether in this class, or outside of this class. Don't spare any details! It'd be even better if there was something you tried several times this semester, and failed each time. 

I have failed on a multiple occasions throughout my life. Specifically this semester, I am failing to graduate "on time" as an accounting student. Through my critical tracking and comparison with my peers, I should be graduating within 3.5 years and in Fall 2019. I could have graduated this semester, but I choose not to for a multiple of reasons. With this, I learned the Masters of Accountancy program is 1.5 years and would take longer for me to complete and interfere with my internship/working timeline.

2) Tell us what you learned from it.  

From me stepping back and realizing pursuing a Masters in Accounting at UF is realistically not an option, I started to explore other paths. I learned I can obtain a Masters in Information Systems and still sit for the CPA. I learned I can obtain a Masters in Accountancy somewhere else and it will only take 1 year to do so. Our world and environment can many times place one goal, idea, or concept in a person's mind. Despite this, one needs to step back and consider all the factors. Think more about life in regards to systems not goals! In failing, one needs to access their options, what they learned from the situation, and how they can move forward.

3) Reflect, in general, on what you think about failure. Failure is hard, isn't it? It's embarrassing, sure, but it also means that we have to change something about ourselves. Talk about how you handle failure (emotionally, behaviorally). Finally, talk about how this class has changed your perspective on failure -- are you more likely to take a risk now than you were just a few months ago?

I am proud for the moments I have failed. Despite the resulting consequence not being exactly what I desired in the moment, I put myself out there, learned about myself and others, and developed a positive mindset about the circumstances. From this, I have become an advocate for failing and believing "failure is an option." In regards to involvement, I have applied for leadership positions and did not obtain them for multiple of political factors. When applying I knew my chances were slim, but I still believed I was the most qualified candidate and knew I had an obligation to uphold to myself to apply. After receiving the rejection, I took a step back, to a breathe, and moved on to see what I could do next to better myself and the world positively. I am a firm believer in sliver linings. A couple months later, swamped in Accounting studies and recruiting for the Big 4, I received a phone call about stepping into the role of the leadership position I applied for. The winning candidate was asked to step down. Proud of my failure and knowing my life was too busy for this involvement opportunity, I did not accept their offer. Having this experience gives me the confidence to take risk and to trust whatever happens, happens for a reason. This class and reading "How to Fail at Almost Everything and Still Win Big" by Scott Adams gave me more confidence in how I handle failure and how I can still win big from my life trails.  From the book I learned more on how failure needs to be embraced, learned, and leveraged to aid to future success. With these life lessons, Adams elaborates on his beliefs to stay motivated, fit, healthy, and happy will being slapped in the face when hit with a hard no. I live out many of his explained practices which gives me a positive outlook on life. 

27A - Reading Reflection No.3

Grinding it Out by Ray Kroc

Part 1:

What surprised you the most?

The book Grinding it Out by Ray Kroc shows the success of McDonalds. The success of McDonalds is contributed to Ray Kroc, not the original founders of the first McDonalds. Ray Kroc was an entrepreneur who was in the business for money and perusing the American Dream. Kroc himself did create the first restaurant, but instead saw the opportunity to create an empire of McDonalds based off of quality, service, cleanliness, and value.

What about the entrepreneur did you most admire?

I admire how Ray Kroc saw and believe in the potential of hard working Americans to run and operate his restaurants. At first, he used his social capital of high worth retirees as gain investors. Kroc soon realized they did not have the same attitude towards the American Dream and making money. In addition, Kroc viewed all his relationships as a win-win for McDonalds and the contributing personnel. 

What about the entrepreneur did you least admire?

I did not like the stubbornness of Ray Kroc. When it came to franchising, he started to completely take owner of McDonalds and tried to remove the original founders out of the picture. He broke contracts and created his own company as an offset. He transformed his concept to view McDonalds as more as real estate investments. At times, Kroc did not uphold integrity. In addition, Kroc was a workaholic and created conflict for his marriage. He neglected and then divorced his wife in 1961. That same year, Kroc spent $2.7 millions buying out one of the brother's stake in McDonalds.

Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

At first, Ray Kroc had a difficult time being a sales man and investor. Many banks would not grant him loans due to unsuccessful products and elevator pitches. Prior McDonalds, he sold paper cups and multimixers. Due to his lack of progress in marketing and sales, many saw him as  a joke or crazy. In addition with the franchise, he created many new products to add to the menu of McDonalds. Some of these concepts "failed fast" thus he took them off immediately. Despite this, the main focus was still the hamburgers, fries, and shakes.

Part 2

What competencies did you notice that the entrepreneur exhibited?

Ray Kroc was 100% all into the business. He would watch over the franchises to ensure they were following every instruction, cooking time, meat quality, etc. to the t. In addition, Kroc was OCD about every aspect of the company and expanding it. He would even sweep up after long nights to ensure the appearance of the restaurant. In addition, he used his previous knowledge with multimixers and paper cups to add to his success of the McDonalds Corporation.

Part 3

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

I was semi confused about when Ray Kroc realized his was not profiting and had to renegotiate contracts with franchisee. He wanted to lower the McDonald's stake in the corporation and increase his. Kroc was power and money dominated.

Part 4

If you were able to ask two questions to the entrepreneur, what would you ask? Why?

1. Did you smell like French fries and fried food every night? If so, how did you get the McDonald's stench off your clothes?
2. How did you know that the brother's McDonald's restaurants were going to be an immediate hit in America?

I would ask him these questions because 1) all McDonald's have a specific smell and 2) he knew and believe instantly that this one company was going to a success. If you think about it, it took Kroc less than 30 years to transform one mom and pop restaurant into a global franchise. That is  incredible!

Part 5

For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

Hard work was what Ray Kroc lived by. He consumed himself day and night thinking, breathing, and building the McDonalds Franchise. Hard work gave Kroc a high. The success, the money, the national growth, and fame only aided to his enjoyment of hard work. I myself find satisfaction off my hard work, but I also do prioritize myself, my family, and friends before work. Kroc neglected his for work. I need time to breath, have fun, relax, and break from work. Kroc never did that. Every action, thought and idea was consumed on making McDonalds better and greater.

25A - What's Next?

What I Think Is Next:

I think the next step Zenergy should consider is expanding to other college campuses. As of now, most of these cities on have cycle class offered through their recreational center. In addition, expand the studio set up to include other stress relieving aspects - premade healthy food for those on the run like smoothies, message studio, a quiet room, etc. In addition, another expansion would include more diverse cycling classes that have weights or resistance bands involved.

Existing Market Interviews:

1. One interviewer said there is a cycling studio like this back at her home town. She attends classes regularly and enjoys all the amenities provided. In Gainesville, she wants a studio like this. She believes the next step for Zenergy is to implement the cycling classes at other college campus. Or maybe patent the classes and sell specialized instructor certifications to college recreational center (similar to Zumba).
2. The second interviewer is a current cycle participant of mine. She said she would stop attending cycle classes at Rec Sports and follow me to a new studio. She constantly says she does not know what to do after I graduate. She enjoys the special aspects of my classes like building community, working for a goal, and breathing. When asking her what should I be doing that I have planned yet she said providing a discount for factuality and staff at UF and the college campuses. Even though they receive an income, they can easily surpass this opportunity and just work out for free or at a minimal cost at Rec Sports. In what is next, she talked about setting the mood of the class with the use of lights and candles. For example, make the morning and late classes feel like the sun is either rising or setting.
3. The last interviewer discussed using a competitive approach for some of the classes. Like at Orange Theory, there are leaderboards for performance. Some participants enjoy this aspect; while it causes others stress. To weight out performance and knowledge, somehow creating a report for the participants that displays their effort, RPMs, mileage, heart rage, and resistance. This can also serve as a bench mark for each class and to improve their cycling performance. In addition, their can be a meditative report which includes time spent cleaning their breath, focusing on good, and a nice quote to get their day started.

Reflection:

The feedback really let me see how I can leverage Zenergy in the future and to grow the company. Being able to target a diverse group of participants is key! The three interviewers all brought different aspects to think about!

What I think make most sense is focusing on key amenities of the studio to enhance. I like the idea of using lights. In the more meditative classes we can make it more of an outdoor feel and incorporate sunlight. Contrary, for the high intensity classes, the lighting can serve as a dance club vibe. In addition the second interviewer talking about the staff and offering them discounts is an easy approach to increase my customer base. I really like what the third interviewer talked about. It is a great idea but a lot of overhead and expenses would have be involved to implement it.

New Market:

A new market which I have not considered are our international students. The University of Florida has a diverse group of students. Many of them come from countries that speak different languages. It would be nice to have an instructor who speaks either Spanish, French, or another language frequently. They could offer their classes in their native tongue and use music from their home country. This would help eliminate the social stressor in their lives by helping them find community similar to theirs back at home. It is key to ensure all customers feel included in our studio.

New Market Interviews:

1. The first interviewer said there might be a challenge to find instructors who speak another langue. Instead, she said to reach other to student international clubs and have them book at session and pick the songs they would like to listen to. Even though they speak another language, they are still in America and trying to learn English. The music will lead the way and the participants can get the ride they desire through the non verbal cues of the instructor.
2. The second interviewer believes this is only a select group of students. He thought it would be a waste of time trying to reach out to this segment. Instead, maybe having an around the world themed ride. This would spread diversity through inclusion and allow all ethnicities to feel valued and represented.

Reflection:

The second interviewer brought a good point about analyzing the cost-benefit of focusing on such an individual market. I like his idea about an around the world themed ride. This market does not seem as attractive to my existing one. I think there is a better new market to target.

On the other hand, it is extremely important for my customers to feel valued and included. This is a consideration to consider. If you have any ideas, please comment below.

24A - Venture Capital No.1

Venture Capital No.1 - Zenergy Cycling Co. 

Opportunity:

• The opportunity is to create a Wellness Cycling Studio called Zenergy. This is a cycling studio which creates a dynamic form of group exercise that fuses indoor cycling with meditation and wellness. The environment promotes an uplifting culture on and off the bike. There are a diverse group of classes which caters to an individual's workout goals. Each class should leave the rider feeling  energized and rejuvenated. The main mission of these classes is to decrease stress and increase productivity. Since our mind and bodies are interconnected, this will allow one to find time to relive their stress.
•  College Students have a need for this service. Currently, there are various pressures for these students to perform. 
• The nature of this need is crucial because many times students do not pause and take time for themselves. Through exercise, one can focus on various dimension of wellness such as exercise, nutrition, mindful, and social. Exercise and wellness can help decrease mental health issues which are more relevant now compared to previous decades.
• There are a multiple of factors creating the opportunity for this service. Besides the cry for help to increase awareness for mental health, our society   is pushing in living in a more sustainable environment where others are focusing more on their physical and mental health needs. Forces aiding to this movement are wearables, the demand for healthy foods, new exercise services, and health care costs. Another main force for college students is the continual increase in performance demanded by their institute despite society bringing more awareness to "mental health."
• The main targeted customer group are college students from the University of Florida in the Gainesville. Besides students, professors, Gainesville locals, and any able body person are more than welcome to attend classes.
• Currently, this demographic group are satisfying this need by taking group fitness classes at Rec Sports, going to YogaPod, and Orange Theory. As a whole, I would say out of all the students who try these services 20% are extremely loyal while 40% attend classes on a convenience base and the other 40% do not attend classes at all.
• The opportunity to create a new and innovative cycling studio in Gainesville is somewhat big. Many students love cycling at a specific studio at home. Currently, the only place to attend cycle classes in Gainesville is at the Recreational Center. The classes offered her are great, but they do not provide the same quality of customer service and intimacy as boutique cycle classes. This window of opportunity is not opened for long. Gainesville has been rapidly growing and expanding. With this, there has been an increase in gyms and fitness related concepts. This past year they opened YogaPod, and now they are currently opening an Orange Theory.

Innovation:

• For individuals with a limited budget, I will custom package bundles for students who show a valid student ID.  Each class individual will sell for $15. A package of 5 classes will cost $50, and the 10 class package will cost $85. In addition, we will have a monthly unlimited package opportunity which costs  $100/month. This prices of these classes still below market rate due to college students. First class is always free of charge.
• For non students with a larger budget, they will abide to the market rate of classes. Each class individual will sell for $20. A package of 5 classes will cost $60, and the 10 class package will cost $100. In addition, we will have a monthly unlimited package opportunity which costs  $120/month. This prices of these classes still more affordable compared to other studios in the area.  First class is always free of charge.
• Initial profits with sororities and fraternities would increase marketing and philanthropic efforts. We will contact these organizations to book customizable group rides at $10/person. The organizations can make song request. In addition, these rides can also be a fundraising event for a charity of choice.  I chose this market to start with because if one of these organizations partake in this service, it is extremely likely for others to follow this trend.

Venture Concept:

• Students will buy my product if they are concerned with their mental and physical health. They will be able to attend classes on a weekly basis. We have a diverse schedule which will provide classes before classes, during lunch, and after classes. In addition, the studio will be located no more than 5-10 miles from the University.
• Individuals with incomes my product to demonstrate community involvement and health awareness. In addition, they can promote this studio by word of mouth. Since there are many local health related restaurants and fitness clothing stores, there is potential for a joint marketing push. Consumers are looking to businesses to be responsible somehow, at Zenergy we offer a multiple of ways to give back to the Gainesville Community.
• Sororities and Fraternities will buy these services because it does something good for them and their community. This is a new social initiative with brings awareness to mental health through exercise. A trend can be started here.
• There will be a "switch" for customers to join Zenergy. The current cycle classes offered at for free through the Rec Center. To combat this, we are offering every first ride free. In addition, there are many discounts and advantages for students to attend these classes. For nonstudents, there is not a switch to start partaking in cycling since there are no other studios in the Gainesville Area. In all, we are keeping the costs relatively affordable because we know financials can aid as a stressor to mental health. 
• Besides the Recreational Center, there are some other major competitors but they offer a different service. Currently, YogaPod, Orange Theory, and other gyms are competitors. They off a different form of group fitness compared to mine. These services have been offered to me, but I have not tried due to the pricing structure and better alternatives for group fitness.
• Price points: This is very important for my services success. If I am too expensive, many students will not attend these classes. In addition, if my costs are too minimal I will not be able to profit.
• Distribution: I would target Greek Life first to increase awareness of my product. Once a handful of organization have members attending my classes regularly, I will start bringing my glasses to Gainesville as a whole and team up with other local businesses. They can help advertise my company by putting flyers or coupons at company. This can help show their company is also dedicated to the mental and physical health of their clients. My logo will be unique and distinct so students can recognize it on stickers, shirts, etc. While I’m not expecting a lot of revenue from this last phase, it is important my services are recognized and build a positive community in and out of the studio.
• Customer Service: Since the company is built upon care for mental and physical wellness friendly customer service is critical to the success of my operations. My instructors will go through auditions and interviews to ensure they are passionate about teaching and brining this mission / mindset to our community of riders.
• Location: Close to college towns; Preferable 5-10 miles away from campus
• Employees:  I’m estimating around 10 employees to begin with.
• Me - Owner and Operator
• I will conduct HR Recruiting
• 4 other instructors to teach the classes.
• Student Intern - Marketing:  Will be in charge of social media awareness, website, gaining customers from their collegiate organizations, etc. The brand and image is crucial to Zenergy's success.
• 3 front desk / student ambassadors – these employees can seek student that relate to this concept. In addition, they will be responsible for the day to day operations of the studio - like cleaning, checking in riders, and providing positivity to others who enter our studio.
• Unfair advantage:  I believe one of my best recourses is my established social capital. Currently, I already have an established network of cycle participants and cycle instructors. This leverages this business venture. I am able to gather feedback, try out this services, acquire employees, and create a community following before Zenergy is completely up and running. This unfair advantage is dependent on my "secret sauce" and how I interact with others. Since this resource is social capital, it can lead me to more clients, financial capital, knowledge, marketing coverage, and resources. These participants and Greek Life Contacts can and will be able to open doors to other contacts and perspectives I am currently unaware of.
• What’s next: I want to spearhead charity rides based off of the University Athletic Teams. For example, having 15 football players ride in honor of Veterans. This will create amazing publicity for Zenergy, the team, and Dan Mullen.
• For Me: As an entrepreneur, I love to tackle more health related issues in an innovative way. Each day I try to bring goodness into the world and make the day better than the last. In five years, I hope to be launching Zenergy in Tallahassee and targeting the students at Florida State. In 10 years, I want to have launched another studio through out Florida and potential at other SEC schools like Georgia, Auburn or Alabama.

23A - Your Venture's Unfair Advantage

1. Fundraising Experience: I have leading, delegated, and organized multiple fundraising events for my sorority. My most recent philanthropic event raised $34,000+ for the Ronald McDonald House of North Central Florida.
• Valuable: Extremely valuable - I will inevitably need funds and organize a major project
• Rare: Not at all rare - many people have this ability
• Inimitable: Somewhat imitated, but not 100% because it is individualistic and dependent on the person conducting the efforts
• Non-substitutable: I could always hire someone to raise money for me, but it would cost money instead of time. Need to look at the cost benefit analysis.
2. Social Capital: Cycle Participants and Instructors - The most crucial parts of my venture are the participants and instructors of these cycle classes. I have multiple ways that I can contact participants and instructors to ask them for their collaboration.
• Valuable: Extremely valuable - their experiences, feedback, and words of advice is invaluable and could accelerate this venture forward.
• Rare: Rare. It is not easy to find ways to get in contact with a vast group of participants and instructors. In addition, I already have established relations with these contacts and I am fairly confident they are willing to assist in the launching of this venture.
• Inimitable: Not imitated - There is no other way I could get their experiences and the cycle classes' impact on their lives besides leading them through a class and soliciting feedback.
• Non-substitutable: No substituted - it is an unique service and highly dependent on the instructor, the class, the environment, and the participants.
3. Personnel Relationships with Other Entrepreneurs: I have worked at a local boutique cycle studio in Tampa. I have a nice relationship with the owner, who is an entrepreneur herself. She is always thinking about her business, how to improve it, and what is important for her clients.
• Valuable: Yes. I have a contact with knowledge, experience and motivation in establishing a cycling studio. If I targeted Tampa first, I believe this contact would not be beneficial due to competition in the market it place.
• Rare: Pretty Rare. I could talk to other entrepreneurs, but none of them know me or have established a cycle studio either.
• Inimitable: No. This relationship cannot be imitated.
• Non-substitutable: This could be substituted by another entrepreneurial mentor.
4. Support of Current Organizations: There are many organizations that deal with mental health and exercise. I feel that their long-term existence and contacts would be willing to help me.
• Valuable: Yes; This is valuable because I can get the support of many organizations who share a similar mission.
• Rare: No; There are many organizations dedicated to mental health, wellness, and exercise.
• Inimitable: Somewhat; There are many other group fitness concepts being established to help mental wellness.
• Non-substitutable: I could not get the same level of support from other groups of people than from these long-standing organizations.
5. Publicity: Wellness and Exercise are pushed heavily on social media and in this current society. In fact, many Social Influencers push these values and ideas on different media outlets. I do not think it would be hard to get the word out. In addition, I have several contacts with over 100k followers.
• Valuable: Yes; Media is valuable because it gets the word out about the service.
• Rare: Yes; It is difficult for that a new service to get a lot of publicity.
• Inimitable: Yes; Any new group fitness organization could achieve the same amount of media support. To gain a higher leverage of support, people need to post about and share it with there friends. Most fitness classes which create a community aspect allows for more support.
• Non-substitutable: The best media outlets to target are Facebook, Instagram, YouTube, and Twitter. By having social media influences cover my classes, will create a unique and intimidate coverage and following of this new services - especially for college students since they are their followers. 
6. Social Capital: UF Greek Life - Since I am in a sorority at the University of Florida and have been a Panhellenic Council, I have various contact in all chapters on this campus. I can leverage these students and market this venture to them.
• Valuable: Highly valuable because the relationships I have with fellow students can advance me in my business efforts. In addition, I have help various leadership positions in this organization and have contacts to many heads and leaders of sororities and fraternities.
• Rare: Not rare. Any UF student could accomplish the same thing and contact the various Greek Organizations.
• Inimitable: Yes; but the success of outreach is dependent on who you network with, how well they know you, the relationship already pre-established, and the ability to reach out new contacts.
• Non-substitutable: No; I want to market to college students first and having connections with the leaders and peers in Greek Life is something that cannot be substituted.
7. Social Capital: Rec Sports - I have connections with those at UF's Rec Sports. This is the recreational center for college students and it encompasses exercise, mental health, nutrition, and over all well being. They know about this potential venture, and would be willing to assist if needed. I could use the GatorWell to incorporate more meditation into the classes and test out the classes on campus first.
• Valuable: Extremely; Since I have basic knowledge of mediation and the dimensions of wellness, GatorWell can help me gain more knowledge on these topics. In addition, having these connections will allow me to test this service on college kids before implementing it into the community.
• Rare: Yes; many do not have high connections with management of a collegiate Recreational Center.
• Inimitable: Somewhat; this could be imitated by anyone who has these connections. Despite, I believe I have stronger rapport with this network than most which makes it more inimitable.
• Non-substitutable: Rec Sport's knowledge is not substitutable and their expertise is extremely beneficial and crucial to the success of this service.
8. Financial Capital: Accounting and banking connections through my major at UF and my internship experiences at Bank of America - Merrill Lynch.
• Valuable: Somewhat; Since I have a background in Accounting and money management, I know how to effectively allocate revenues to expenses and be cost effective. In addition, through various financial internship, I have made strong connections at Merrill Lynch and Bank of America.
• Rare: Some what; many do not have high connections with employees within these firms. This can help with fees and other expenses. Also this can help with my credit and receiving a loan for this business venture.
• Inimitable: Somewhat; this could be imitated by anyone who has these connections. Despite, I believe I have stronger rapport with this network than most which makes it more inimitable.
• Non-substitutable: Yes; Financials can be substitutable by hiring different companies, accountants, and various others who have knowledge on money management, accounting, and other financial services.
9. Human Capital: ACE Certified
• Valuable: Somewhat; I have background and a national certification to be a group fitness instructor. I have been trained and educated in this sphere. This certification can be granted to anyone who passes the ACE exam.
• Rare: Somewhat; There are various group fitness instructors who have obtain group fitness certifications.
• Inimitable: Somewhat; Some studios look over certifications and just train instructors themselves. Also, there are various other group fitness certification companies.
• Non-substitutable: Yes; Instructors can be certified and outsourced in a multiple of ways.
10. Human Capital: Training in Consoling
• Valuable: Somewhat; I have background and training on being a Panhellenic Council and knowing how to handle adverse situations and respond to other's emotions.
• Rare: Somewhat; There are various other organizations which trains other to respond to college student's emotions.
• Inimitable: Somewhat - trainings and research can be conduct by anyone
• Non-substitutable: Yes it is substitutable. One can higher wellness coaches and type of counselors. 

After analyzing the VRIN of each resource, I believe one of my best recourses is in regards to my social capital and already having an established network of cycle participants and cycle instructors. This leverages my business venture. I am able to solicit feedback, test out my services, acquire instructors, and create an establish community and following before Zenergy is completely established. This is truly unique and dependent on my human capital and "secret sauce." Since this resource is social capital, this resource can lead me to more clients, financial capital, knowledge, media coverage, and resources.  In addition, if you invest into someone they will be more inclined to invest with you. These participants can and will be able to open doors to other contacts and perspectives I am currently unaware of.

22A- Elevator Pitch No. 3

Elevator Pitch No. 3

https://youtu.be/OcubDwgbN8s

Reflection: I did not submit a second elevator pitch. Therefore, I do not have any feedback from it.  From my first one, someone mentioned enjoyed two aspects of my hook. This time I eliminated the part about the stats of college stress and made the hook more dynamic by focusing more on the consumer of Zenergy's cycle classes. Unlike the first pitch, I also mentioned Gainesville in this video as the Geographic Location, the pricing of the cycle classes, and what to expect from our service. I wish I hard more time to elaborate on our diverse classes (i.e. more high energy / more meditative /etc). In all, I believe this to be an effective elevator pitch and would appreciate any feedback.

21A- Reading Reflection No.2

How to Fail at Almost Everything and Still Win Big by Scott Adams

1) What was the general theme or argument of the book?

The theme of this book is to accept failure into one's life. Failure needs to be embraced and be learned from to help leverage your future success. With these failures and life lessons, the author, Scott Adams, elaborates on his beliefs to stay motivated, fit, healthy, and happy will being slapped in the face when hit with a hard no. Adams revolves success around a couple of concepts. For example, goals versus systems. Creating a systems will lead to success compared to being fixed on a goal. Systems allow one to understand the means and inputs to reaching an outcome while focusing on the present; while goals are a specific and narrow outcome and many people can loose sign of their ambitions and self when trying to achieve their future outcome. In addition, systems are not fixed and one can adjust their plans and timing. Another concept is the act of being selfish. Adams explains one needs to be selfish by prioritizing their life correctly. This can be done by diet, exercise, sleep, eliminating unnecessary stressors and by looking out for yourself before others. There are two quotes that stuck out to me in regards to this:

• "Priorities are things you need to get right so the things you love can thrive."
• "The most important form of selfishness involves spending time on your fitness, eating right, pursuing your career, and still spending quality time with your family and friends.

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

This book connected greatly with ENT3003. Scott Adams is an entrepreneur himself . He has failed many times trying to develop technological products, services, start ups, patents, and the list goes on. From these failures he has understood the basic connection between humans, their desire to succeed, and how to achieve it. He has come up with a list of items he has done wrong or have change in his system of life to succeed. The book enhances one's understanding of the entrepreneur's mind and the factors the affect life and the journey to be a winner. The book brings irony too the class because it contradicts many expectations students believe how an entrepreneur acts, thinks, and lives their life.

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

The exercise would be called "Failing is an Option." This exercise would all students to gain wisdom from their failures, to reduce stress about future failures, and how to learn from them.  First, the exercise would make the student define failure, Second, the student would make a table listing three times they have failed. In another column, they would write any valuable wisdom they learned from those three failures. After the assignment is submitted, classmates would comment their personal wisdoms in the dialogue box. This will prove everyone fails at life and everyone can learn from those experiences 

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

The biggest "aha" moment is reading about these character traits to be successful and realizing I implement many of these techniques into my life. Prior this novel, I had many preconceived notions to entrepreneurship and what it takes to be successful. Adam Scott knocks down these myths and proves to readers anyone, in their basic human sense, can succeed at what ever they desire. He also proves one can live an enjoyable, and humorous, life while pursuing these goals.

20A - Growing Your Social Capital

Domain Expert:

1. Who they are, what their background is: 
1. Michelle Gobea served in the Maine Corps before college. Now, she runs her company, SOHO Cycling, for 10 years in Tampa, FL.
2. How this person is a “domain expert”: 
1. She is a domain expert because she runs the management side of her cycling studio. In addition, she still teaches 3 times a week and offers a variety of classes. Because of this, she is able to build rapport with her clients and truly understand their needs and desires.
3. How I found and contacted this person: 
1. I attend her cycling classes when I am in Tampa. Two years ago, I inquired about an entry level position working behind the desk to understand the logistics of a small business.
4. Nature of Exchange: What they did for me, what is the return expectation: 
1. I worked for her and she demonstrated the quality of service one needs to provide to their customer's when providing cycle classes. She thinks meditative classes can be beneficial, but is worried clients would not enjoy it as much. She alludes how she minimizes their stress by providing other accommodations at the SOHO to elevate time stressors. Michelle is a very kind person who is extremely dedicated to her work and community.
5. How will including them enhance my ability to exploit an opportunity: 
1. She can test out some of the meditative classes at her studio and see if they provide negative/positive feedback. Michelle has already fused workouts into cycle classes (i.e. a tone cycling class which uses resistance bands in an upper body workout)

Market Expert:

1. Who they are, what their background is: 
1. Darcie Burde is the Director for Fitness and Wellness at UF's RecSports.
2. How this person is a “market expert”: 
1. Darcie is advocate for both mental and physical wellness. She has been working for Rec Sports for the past 11 years. In addition, she is skilled in leadership, public speaking and networking, fitness and health promotion, and program development for college students. In addition, she teaches cycle classes as well.
3. How I found and contacted this person: 
1. I have been serving on the Rec Sport's Board of Directors for the past three years. Darcie also serves on the board represent fitness and wellness.
4. Nature of Exchange: What they did for me, what is the return expectation: 
1. Darice truly understand the idea of integrating one's body and mind to help elevate stress and to be more productive in their day. Darcie has done research and has gained much knowledge on the 8 dimensions of wellness, stress, and the benefits of exercise. She is not yoga certified but sees how this could serve as a new variation of cycling.
5. How will including them enhance my ability to exploit an opportunity: 
1. She encourages me to practice meditation in my class and see how my participants respond to it. In addition, she wants to try this practice as well. She will try to attend my class and provide feedback. In addition, she is going to try in within her classes.

Industry Supplier:

1. Who they are, what their background is: 
1. Leah Shelley is the Associate Director for Fitness. She works closely with Darcie.
2. How this person is a “industry supplier”: 
1. Leah works closely with industry supplies of spin biker. She is the intermediator between the wholesaler and the Rec Center. In addition, she has previously taught Group Fitness Instructor classes. Therefore, she is able to assess the competency of an instructor and their potential.
3. How I found and contacted this person: 
1. Leah and I first meet when she was my teacher for the Group Fitness Instructor Training Program at Rec Sports my freshman year. In addition, she also serves on the Rec Sports BOD.
4. Nature of Exchange: What they did for me, what is the return expectation: 
1. I explained my product idea and pitch the concept of implementing mindfulness into cycling classes. She was going to try and get a group of instructors to test it out.  I told her about the need for bikes and other inventory needed for the studio. She recommends certain stationary bikes; but there is not much diversity in spin bikes.
5. How will including them enhance my ability to exploit an opportunity: 
1. Before talking to Leah, I did not put into perspective the use of spin bikes. I need to answer the questions of wanting a heart rate monitor, a device that states RPMs/Miles/gears, and other features. In addition, I need to access if these components will be beneficial to the riders or be stressors.

Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?

• Targeted marketing is somewhat difficult! Since I already partake in Group Fitness, Rec Sports, and other wellness facilities I have able to build up my network. Even though these contacts were not new, they were valuable to helping me pursue my business plan. In future networking events, I need to network more with Yoga Instructors and those in GatorWell and gain more insight on that aspect of my business plan. These experiences are similar to my previous networking, but also a little different. The majority of my "networking" has been done with job recruiting for accounting firms and other internship possibilities. This was less formal, but more to the point of a topic at hand. Job networking the contacts are trying to get to know you, but here they are just trying to answer questions in regards to one's business idea.