ENT3003 Course Blog

As I look back on this past semester in ENT 3003 I can only imagine what it would be like if I had chosen not to take this class during drop/add. I have learned so much not only from a business perspective but on creative thinking and perseverance even when things were to become difficult. From the Bug List assignment to all the reading reflections as well as the numerous interviews I had to do with potential customers in my concept, I would not be the same person I am today without these frustrations. When I originally signed up for this class I thought I was going to learn what I had to do to be an entrepreneur but in the end, I learned that and so much more. For me, the most formative experience was the Bug List assignment. It was really frustrating to think about the world in the negative way that the assignment requires but it was the eye opener I needed in order to do well in this class. It might have been hard but I did it, which is something all the entrepreneurs that we read...

The opportunity that I am looking to fix is to provide the people of Gainesville with an affordable food option at sporting events and other outdoor venues. The vendors at these events have gotten way out of control when it comes to prices and quality of the food they are serving their customers. These fans/attendees deserve to have food of good quality for a price that doesn’t burn a hole in their wallets. I’ve personally gone to sporting events and been forced to pay $8 for nachos. Now to the average consumer, this is atrocious, I could go to any grocery store in the area and less than half of that amount of money to get the same or more food for that price. The ability to have this option available to these potential customers is one reason why they would be willing to come to our truck rather than the other food vendors that they typically go to during sporting events and other outdoor venues. This is a huge need and a huge opportunity because thousands of people attend these out...

I think the exit strategy that I would end up choosing to protect the business and pass it down to my kids or other family members. I think this option allows my family to continue to have financial security which is all I could ask for as a parent. However, I don’t want to force my kids to be apart of the family business if they don’t want to. Don’t get me wrong I would love it if my kids or other family members wanted to get in on the business with me. I think it would be a way for all of us to continue to stay close to one another. However, some businesses can be the reasons families begin to crack and animosity begins to creep in. This mainly happens when the business isn’t doing well or is on the brink of failure. That is something I wouldn’t want to happen either. If it came down to it I would sell the business to another person if it meant I could keep my family together. However, that would not be my first option.

Shoe Dog                The book Shoe Dog is the story of the humble beginnings of Phil Knight and how he grew a $50 investment from his parents into a 30-billion-dollar shoe company that most of us are very familiar with. Nike shoes have become the gold standard for the majority of athletic footwear worn throughout the world. They have thousands of sponsors and numerous athletes that wear their shoes during athletic competition. Nike’s have been worn in every major championship across every major sport and even the Olympics. I think what I admire most about Phil Knight is that even to this day he still remains humble and knows that anything can happen, and failure could be right around the door if you don’t work hard. One story that Phil talks about in the book is that he would go into investor meetings at the early stages of Nike and he would tell them that there was a very high chance of failure. I don’t see this...

I am a competitive bowler in my spare time when I’m not freaking out about classes or bombarded with my work schedule. Recently I traveled to Chicago for a huge national tournament with some of the best bowlers in the country. This tournament was a huge undertaking financially and physically. The qualifying process for this tournament included 24 games over 4 days of bowling. I would bowl 6 games a day on one of four different lane conditions. This was a very stressful experience and one that will continue to make me a better bowler. However, after the 24 games, I did not make the cut for the quarterfinals of this tournament. I missed the cut by 5 pins. All I could do after I was the results was thinking about every missed shot I made and every easy mistake that happened over the four days. It was a tough drive home. I felt so bad about myself and how I performed. It took me about a week to even look at a bowling ball. This failure to get past the qualifying round of this major tourn...

Existing Market After conducting the three interviews with the three customers in my current market they all seem to have the same thoughts in mind for what they believe I should do next. Since I don’t have a food truck yet they all suggested methods for me to obtain one as well as all the permits and other documentation that are needed to run a food truck in the city of Gainesville. One interesting point one of them also brought up was the need for me to do some market research for food prices. I’ve thought about this before but not until after I’ve purchased and designed the truck. However, after hearing his explanation I feel that this has to be one of the forefront ideas I need to research first. I think for me after hearing all the feedback and opinions about the future of my business. I think the best thing for me to do is to look into options for purchasing or renting a food truck as well as researching the appropriate permits and legal documents involved with running a foo...

The opportunity that I am looking to fix is to provide the people of Gainesville with an affordable food option at sporting events and other outdoor venues. The vendors at these events have gotten way out of control when it comes to prices and quality of the food they are serving their customers. These fans/attendees deserve to have food of good quality for a price that doesn’t burn a hole in their wallets. I’ve personally gone to sporting events and been forced to pay $8 for nachos. Now to the average consumer, this is atrocious, I could go to any grocery store in the area and less than half of that amount of money to get the same or more food for that price. The ability to have this option available to these potential customers is one reason why they would be willing to come to our truck rather than the other food vendors that they typically go to during sporting events and other outdoor venues. This is a huge need and a huge opportunity because thousands of people attend these outd...

Resource List 1.)     Motivated Owner V: This resource is very valuable because with a motivated owner you know they are going to do anything to succeed R: This isn’t very rare; most owners are motivated to make their business successful I: It’s pretty inimitable, the only significant difference is how the owner decides to run their business N: This is non-substitutable, only I have the information and knowledge to appropriately run this business 2.)     Restaurant/Food industry experience V: This is extremely valuable. The knowledge of this industry will make the initial steps of starting the business much easier as well as the continued success as the business down the line. R: This isn’t very rare, There are a lot of people who have food industry experience out there. Some who even have more experience than me. I: My personal experiences within the food industry cannot be inimitable. They don’t have the same experiences than me. N:...