Final Reflection

The End Of Our Journey & The Beginning Of Your Journey 

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 enjoyed the pitches. I liked the concept of progressively getting better at giving pitches. I also liked the feedback I would receive. I am most proud of doing all my assignments on time and never missing one (missed one but that was because I did not 'declare').

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 believe I have developed more of my entrepreneurial mindset. There were things that I was ignorant of that this class has forced me to see and learn of. 

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?

I recommend that they do all their assignments. And if they are truly entrepreneurs, then put your best work in the class. This class helps foster young aspiring entrepreneurs. 

Venture Concept No.2

Venture Concept No.2

Opportunity: My customers have the need for eye care, whether it is glasses, eye exams, eye problems, surgery, or health problems associated with the eye. Their unmet needs are that all the previous needs are not localized or centralized in one area or location. Because of this unmet need secondary parties arise, such as those with not a lot of time on their hands, people taking elderly people to appointments, people trying to get ahead of rush hour. This opportunity is created due to these circumstances especially because it is in Miami which has a huge problem with traffic and overpopulation. The market is from many counties in Miami. Customers currently satisfy this need by not going to either the optical or the ophthalmologist, not listening to the optometrist or ophthalmologist, driving to two different locations to satisfy their needs. They are not loyal because they complain to our optical about driving here and there and asking why the optometrist cannot do some procedure. I believe this opportunity is big but it has not been solved because there is some flaw to it. This window of opportunity will be around as long as I become an ophthalmologist.

Innovation: My innovation is a new way to conduct eye care. It is to connect both an ophthalmology practice as well as an optometry/optical. People initially go to an optical to get glasses, get eye tests, and check their health. If a problem arises or something is out of the ordinary the optometrist recommends the person go to an ophthalmologist. The ophthalmologist diagnoses problems for eye care, performs surgery, and sends the person back to the optometrist so they can see if any problems arise again after surgery. However these practices are never in the same building or location. I propose to fit both of these together. This is profitable because if a patient has a problem they simply go to the ophthalmologist upstairs and then they go back to the optometrist downstairs. The fast pace will create many opportunities to have multiple customers and patients. It would become like clockwork. And because it is fast people will recommend my business to others.

Venture Concept: Customers would switch from going to two places to one because it is more convenient in all possible ways. One location means you only drive to one place you use less gas less traffic. One location means you can develop meaningful connections with people making a small business like model. It seems like it would be fairly easy to switch. My competitors would be cheaper places such as big corporations. Their weaknesses are that they do not care about the customers; they have less variability in their selection of glasses. The customer experience would definitely play a big role in how my business would succeed. They need to feel as though they are being talked to and approached as friends. The location is important as well. Having one location would draw in customers that are looking for convenience, especially those that are in a rush. I would support this business by hiring employees to run the optical, hiring an optometrist, hiring an office team for my ophthalmology practice, and me being the ophthalmologist. My family who owns two optical (soon to be three) will send their customers that have eye problems to me for my ophthalmology practice.

My most important resource will be me becoming an ophthalmologist because that will allow me to not only perform surgeries and not hire an ophthalmologist, but know all facets of eye care. So I can manage the optical as well as the ophthalmology practice. I will have the fact that I am an ophthalmologist which is a hard profession to earn that my competitors probably do not have. My next venture is to create more optical around Florida and become a corporation. Assuming I have launched I expect the business to be doing well and me to start planning on opening another optical. And in the next decade I expect to have opened that optical and repeat.

Feedback: The feedback I received was that they agreed with me on that the business mostly revolves on the customer experience. One suggestion was figuring out a way to retain customers due to their open use of other eye care options. Another suggestion was for me to look into how I would receive money. As an ophthalmologist, will I be receiving a salary? For the first suggestion I believe that my customers will stay with my business because of the convenience and that it is a small business. It is more personal. For the second question, I would be an ophthalmologist who owns two businesses. I will put in and take out accordingly. Because I would want my business to succeed I would probably always put as much as I can afford back into the business. I will not be making a salary.

Your Exit Strategy

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?

My business will not begin in the next 5 years. It begins when I become an Ophthalmologist. But after five years of opening an optical with an ophthalmology practice, I do not plan on selling. I plan on having the business for the rest of my life and passing it down generations. 

2) Why have you selected this particular exit strategy?

I selected this strategy because I am part of a family business. My family owned many optical in Nicaragua till they were forced out, and now we are rebuilding and we have two optical with a third on the way. 

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?

It has influenced every facet of my concept. My whole concept revolves around the fact that I go into eye care. It has influenced my journey and what I want to become. It has influenced my future and what I expect from it. 

Reading Reflection No. 3

The Last Book!

Thinking fast and slow by Daniel Kahneman

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

The general theme of the book was that a persons behavior is determined by two systems. System 1 is impulsive, automatic, intuitive. System 2 is thoughtful,deliberate, calculating. As they play off against each other their interactions determine how one behaves. 

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

This book connected with ENT because it shows a lot on how the consumer mind works. Targeting specific parts of what makes people attracted to things, businesses can manipulate consumers to walk in their stores, buy there products. 

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

I would show my class multiple scenarios in pairs of two where the class participates. In which scenario is what system? 

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?

From watching his lectures on the book he talked about how when people are exposed to math problems their pupils dilate by about 50 percent. That it is something you do rather than something that happens to you. It requires steps and thinking rather than seeing someone angry which is something that happens to you, which does not require high thinking. 

Celebrating Failure

Let's Fail A Lot!

I am currently a second year student in the innovation academy, meaning that I only do Spring and Summer terms. In my first year Spring I took Chemistry and dropped the class. Now I am taking the class again but it is still very difficult. I still do not do as well as I would hope to in every test. Each time I received a test grade back I changed the way I approached my next test. And each time I have done better. I learned that through my failure that I should not take it as a defeat but instead as a learning experience. This class has showed me that I should learn from my mistakes therefore decreasing risks. I do not take 'risks' when studying, instead I learn from my past exams and study harder. 

What’s Next?

Whats Next? 

Existing Market

- I interviewed three people and in those three interviews each of them said they didn’t expect much of anything. One suggested opening up another optical but besides that there was not much to improve on an idea that is simply putting two practices into one.

Other than opening new optical around Florida, I do not see myself doing more entrepreneurial work. - I plan on enjoying my life once I get to that stage (as well as along the way).

New Market

The Online market- Young People

- When interviewing this market I found that the main concern with my business is physically going to the store. They did admit that it is important to go for eye exams and if worse comes to worse eye surgery. But the majority of them do not go to an optical because they can order glasses online. At first I suggested we have an online store and try to develop a way to conduct eye exams online. The interviewees liked that idea. But it still did not solve the issue of physically going to the store to get real eye exams and eye surgery. They did not have an answer.

- This new market is the defining decade of many businesses. The first person to solve the problem of people not wanting to go to places and ordering online will be the person to make the most profits. In the case of eye care it is still developing.

Venture Concept No. 1

Putting It All Together 

Opportunity: My customers have the need for eye care, whether it is glasses, eye exams, eye problems, surgery, or health problems associated with the eye. Their unmet needs are that all the previous needs are not localized or centralized in one area or location. Because of this unmet need secondary parties arise, such as those with not a lot of time on their hands, people taking elderly people to appointments, people trying to get ahead of rush hour. This opportunity is created due to these circumstances especially because it is in Miami which has a huge problem with traffic and overpopulation. The market is from many counties in Miami. Customers currently satisfy this need by not going to either the optical or the ophthalmologist, not listening to the optometrist or ophthalmologist, driving to two different locations to satisfy their needs. They are not loyal because they complain to our optical about driving here and there and asking why the optometrist cannot do some procedure. I believe this opportunity is big but it has not been solved because there is some flaw to it. This window of opportunity will be around as long as I become an ophthalmologist.

Innovation: My innovation is a new way to conduct eye care. It is to connect both an ophthalmology practice as well as an optometry/optical. People initially go to an optical to get glasses, get eye tests, and check their health. If a problem arises or something is out of the ordinary the optometrist recommends the person go to an ophthalmologist. The ophthalmologist diagnoses problems for eye care, performs surgery, and sends the person back to the optometrist so they can see if any problems arise again after surgery. However these practices are never in the same building or location. I propose to fit both of these together. This is profitable because if a patient has a problem they simply go to the ophthalmologist upstairs and then they go back to the optometrist downstairs. The fast pace will create many opportunities to have multiple customers and patients. It would become like clockwork. And because it is fast people will recommend my business to others.

Venture Concept: Customers would switch from going to two places to one because it is more convenient in all possible ways. One location means you only drive to one place you use less gas less traffic. One location means you can develop meaningful connections with people making a small business like model. It seems like it would be fairly easy to switch. My competitors would be cheaper places such as big corporations. Their weaknesses are that they do not care about the customers; they have less variability in their selection of glasses. The customer experience would definitely play a big role in how my business would succeed. They need to feel as though they are being talked to and approached as friends. The location is important as well. Having one location would draw in customers that are looking for convenience, especially those that are in a rush. I would support this business by hiring employees to run the optical, hiring an optometrist, hiring an office team for my ophthalmology practice, and me being the ophthalmologist. My family who owns two optical (soon to be three) will send their customers that have eye problems to me for my ophthalmology practice.

My most important resource will be me becoming an ophthalmologist because that will allow me to not only perform surgeries and not hire an ophthalmologist, but know all facets of eye care. So I can manage the optical as well as the ophthalmology practice. I will have the fact that I am an ophthalmologist which is a hard profession to earn that my competitors probably do not have. My next venture is to create more optical around Florida and become a corporation. Assuming I have launched I expect the business to be doing well and me to start planning on opening another optical. And in the next decade I expect to have opened that optical and repeat.

Your Venture’s Unfair Advantage

What Makes You So Special? 

What makes you so Special?

-          I have access to an optical owned by my parents

o   This is valuable because it can provide a stepping stone for my business

-          I have access to a second optical owned my grandparents

o    This is valuable because it can provide a network of opticals that can send customers to my business

-          My aunt is opening up an optical

o   This is valuable because it can provide a network of opticals that can send customers to my business

-          I have a personable personality

o   This is valuable because it allows people to open up as well as become more willing for favors

-           I have professional experience in working at an optical

o   Because I have worked at an optical, I know the wants, needs, and patterns of the typical customer

-          I am a problem solver

o   I like to solve problems

-          I have a passion for helping people, seeing people happy

o   This quality is helpful because I will push myself and others around me to satisfy the customer/patient ‘s needs

-          I never have a negative mentality

o   This is valuable because if I have a negative mentality it allows room for error and defeat, you expect it. It also affects those around you

-          I will be an Ophthalmologist

o   This will allow me to not hire an ophthalmologist

-          I like to learn

o   If I am wrong or I do not know things then I learn it

The most important resource in my opinion is that I do not have a defeatist attitude. If I were to have it, then none of my plans would come into fruition. This is why my mentality is my most important resource.

Elevator Pitch No. 3

Pitching Practice Makes Perfect 

https://youtu.be/wzNnp0AaINs

The feedback that stood out the most was that I needed to explain my idea more. As well as me providing more information and being more lively and not robotic. 

I changed the pitch and decided to explain the idea more than provide a pitch so that is different. I can definitely say that I am more comfortable in front of the camera. 

Reading Reflection No. 2

Bringing in A Second Opinion 

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

The general theme of the book is the differences between a growth mindset and fixed mindset. How they effect your daily activities and how one behaves. 

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

It helped me reinforce the idea that even though I may make a mistake here and there, it is all about what I do after that will improve my way of being. In the case of ENT, that is doing my work and not trying to fall below an A. I messed up once and did not declare my assignment. The book tells you to have a growth mindset and look for potential. The potential is, I recognize my error and I will seek out ways to improve. 

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

I would have everyone write on a notepad to take with them throughout the week and write down there thoughts. By the time they are back they should have written a certain amount of thoughts where people would read out loud and the class will determine whether it is a fixed mindset thought or a growth mindset thought. 

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?

Bill Gates recommended the book. If Bill Gates says to do something, then I am doing it. 

Growing Your Social Capital

It's Who You Know, Not What You Know

Dr.Beauchamp – Optometrist who has worked in the business for 40 years

Domain Expert- They are a domain expert because they are an optometrist which is a facet of the business I would like to own and reproduce.

I found this person through shadowing them over Spring Break.

Over Spring Break I shadowed him and asked him questions regarding his profession and how the optical business affects it.

This connection will help me get into contact others that are in the same field.

Bernarda Padilla- Manager at an Optical

Market Expert- She is a Market expert because she has been selling glasses and booking appointments for 20 years.

I found this person because I have been getting glasses from her all my life.

Over Spring Break I shadowed under the optometrist but I was in close proximity to the manager.

This connection helped me understand what goes on behind an optical. Such as the upkeep, finances, what customers expect, the attitude that goes along with the job, how to talk to suppliers. This connection also brings me closer to understanding and knowing the optical’s around the city.

Kim- The Costa Supplier around Kendall, Miami

Supplier Expert- They are a supplier expert because they sell Costa Glasses to Optical’s around the city.

I found this person when I was Shadowing the optometrist over Spring Break. The Lady came in and went to Bernarda, and Bernarda introduced me.

This encounter although brief was a great way to gauge the interactions between supplier and market expert. I saw the relationship they have and the prices that glasses cost.

This connection is beneficial because when I own an optical in the future, I need to have good relations with the suppliers otherwise they wither won’t sell to me or will give me low quality items

This experience was great. Before I never fully invested much time into the business, but since I shadowed I uncovered aspects of the business that most people do not see. Due to my networking, people want to help get an edge and achieve my goal. It seems when you put yourself out there, people want to help out.

Idea Napkin No. 2

Second shot at Idea Napkin #2

1.       I am a second year college student who aspires to become an ophthalmologist. I have been exposed to the optical business my whole life. If I pursue my idea of creating an optical that has an ophthalmologist and optometrist in the same space then I believe it would be very profitable. I would be the ophthalmologist and the owner and I would have to hire an optometrist. Being the ophthalmologist and owner of the business, I would be able to choose my own hours, and employees. This would allow me to have a balance between work life and my social life.

2.       The service I will be providing is bringing all aspects of the optometry field into one. This provides a central location for customers and creates a friendly environment. No more need to schedule redundant appointments when the both practices are in one area.

3.       I am offering this service to people who have eyes and are aware of eye care. I am offering this service to people who find it easier to drive to one location and want to experience a friendly local environment. I am offering this service to elderly people who do not have people to talk to.

4.       Customers will be drawn to my service because it is convenient for them. It also provides an environment where the connections with people are more personal rather than a doctor’s office where you wait in a cold room looking down on your phone. An optical setting has a lot of movement and conversation which ophthalmologist practices do not have.

5.       What sets me apart from other optical’s is that I will be the ophthalmologist as well as the owner. And my service is different compared to other optical and ophthalmology practices because it will be in one centralized spot. I have shadowed both environments as well as grew up with my parents owning an optical. I believe I have the tools necessary to create a successful business.

From previous feedback from people in the business I have learned that my service is going to be hard to accomplish, not because of the customer convenience but because of the wait time that an ophthalmology practice requires. Comparing the two, an optical business requires movement and money transactions at a fast pace because it is a business rather than a health service. So figuring out how I can fit the two together is what I need to find out. 

The feedback I did receive was from one person where they criticized how I plan to incorporate the two businesses together, which is the main problem about my idea. And it is also a problem I have yet to completely solve.

Create a Customer Avatar

Retired ladies who do Yoga in the Morning 

The typical customer is a middle aged person. They tend to drive affordable luxury cars. They watch Spanish shows. They typically have children. Not typical to have adopted children. A mix crowd of democrats and republicans. They are usually tired and want to talk. 

The avatar I created is similar to me in that I have glasses I wear at all times of the day. I also have brown skin. I do not think the avatar looking like me is a coincidence. Without thinking about it I unintentionally created an almost uncanny replica of me. This may be because I see the capabilities of my product and I am forcing them on to my customers. 

Elevator Pitch No. 2

Elevator Pitch Practice! (Part 2!)

https://youtu.be/e-bn8e_aHo4

Feedback: The feedback was helpful. Add more examples explaining the plan better, lighting to see better, more professional clothing.

Based on the feedback I went into a bit more depth explaining my pitch, I added more light for the camera to focus better. However I did not dress as well as before.

What’s Your Secret Sauce?

Know Thyself

Human Capital 

1. I have empathy. I am able to connect with everyone. I have never had an encounter where anyone disliked me.

2. I am able to bring two groups together and create discussions, by providing a light and welcoming environment.

3. I am determined and stick to a certain set of values I live by. Like everyone else there are times when I have to bend them, but for the most part I stick to what I believe in even if it goes against the norm.

4. I am not afraid of what other people think. There are times when I become self-conscious and want to conform, but I always go back to what I believe in. I am not afraid to stand out.

5. I am always trying to learn and better myself. If there is something I don’t know then I listen.

https://soundcloud.com/user-364372573/janmiguel/s-i4shH

My key takeaways from this interview are that he says that I have loyalty and confidence in how I go about my life. He says that you do not really have to get to know me to be comfortable around me. Not afraid to disagree, ask questions. Have confidence to admit when you don’t know something.

https://soundcloud.com/user-364372573/chloe/s-0Ez9z

My key takeaways from this interview are that she explains that I work well with other s and am able to keep tense situations calm, thus confirming my ability to create a welcoming environment.

https://soundcloud.com/user-364372573/sophie/s-NPi4g

My key takeaways from this interview from this are that she says I am able to stray away from the norm and can do so confidently.

https://soundcloud.com/user-364372573/paul/s-Mck2Q

My key takeaways from this interview are that he explains my values that I stick too. He says that he can trust me based on how I stick to my values I do not sway very easily.

https://soundcloud.com/user-364372573/mark/s-nwx4H

My key takeaways from this interview are that I am able to make everyone laugh, have strong family values, and am very loyal and determined. He admits that I procrastinate sometimes, but still does what I am supposed to. Says I can relate to anyone at any age.

There are no differences with how my friends see me. Some may be over embellished. I try to always stay with my views but sometimes they change. I don’t always do the right thing. I am self-conscious and unconfident at times. The only way for me to rise above it is to admit it and realize what I am doing.

Figuring out Buyer Behavior 2A

Evaluating how your Customers Evaluate Stuff

1) I interviewed my Uncle Willesley. He gets glasses every year and has an appointment yearly. Recently he fell and hurt his eye and was referred to an ophthalmologist then went to optometrists for follow ups on the healing. He says that going to an ophthalmologist then to an optometrist was inconvenient because when he had questions for the ophthalmologist he had to call and have a wait time when he could not understand what the optometrist meant. He also did not like the back forth. He is in the segment because he appreciates a centralized location for all eye care.

2) I interviewed Chloe from my optometry club and asked her experiences with ophthalmologists and optometrists. She says that she’s worked in both environments and has seen clients clearly upset with the driving from one place to another just to get told one thing and go back. She says they are visually upset.

3) I interviewed a young man by the name of Alex, who had come into the optical with his grandma dropping her off for her annual checkup with the optometrist. I asked him whether it’d be convenient to have the ophthalmologist and optometrist in one centralized business. He responded by saying that it becomes a hassle when you have to drive up and down traffic for the same type of problem but two specialties. He says he is annoyed and it wastes gas.

These segments of individuals are looking for a centralized location where it is not inconvenient for them. I believe my business product will provide this segment with the solution they are looking for when it comes to eye care.

Halfway Reflection

Tenacity and Paying it Forward

1.    For this course I have been reading what I have to do for the week every Sunday. Then I plan accordingly with my schedule. If I have a busy schedule then I try to do my assignment earlier, if I do not have a busy schedule I do the assignment a day before or the day it is due.

2.    2. There have been moments when I felt like not doing an assignment, but what gets me through it is that I am doing this to get a good grade in the course will be one step closer to graduating, which is one step closer to optometry school, which is one step closer to becoming an optometrist, and so forth. I view it as a snowball I am trying to get bigger. I defiantly have developed a tenacious attitude because I want to live a good life and in order to do so I have to be tenacious with my studies.

3.    1) When beaten down because of a bad grade, do not fall prey to blaming others or the teacher. Take a look a back and look on how you studied. 2) Read to help stimulate your mind. Don’t look for quick and easy entertainment. 3) Do not let others distract you from your goals.

Reading Reflection No.1

Reading Reflection

To Be Loved, Berry Gordy

What surprised you the most?

What surprised me the most was him getting drafted to the Korean War and getting a letter that was not about his music but about getting drafted. Another surprise was the money that the siblings put together, and the only way to use it was to convince all the family.

What about the entrepreneur did you most admire?

How he questioned everything at such a young age. I also admired how he had two passions and when faced with a decision of music or boxing he choose music because boxing can easily be lost from a career ending injury, which is a very mature decision for being 20 years or younger. The song he created to be loved was really good. He gave opportunities to artists and helped out with writing.

What about the entrepreneur did you least admire?

His drive is to get back at people. When fame comes he believes that he can get any girl, people would bite their words for not believing in him.

There was nothing I did not admire. Nothing stood out for me.  

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

Losing the store because he only appealed to Jazz people. So he decided to listen to the customers and listened to the blues. He understood why people liked the blues because of its simplicity, however he was too late to implement it into his store and he lost it and became broke. He did not let that be the downfall of him, instead he fully invested himself into the business of music. When he saw the people at the factory talk about the amount of years they had left to “live” he realized he did not want to waste his years at the factory and chose to seriously pursue his dreams, to get off the treadmill. Marketing for Hitsville, he was alone so he hired an Italian which was mixing white and black people.

2) What competencies did you notice that the entrepreneur exhibited?

He was able to always hustle for money. He was an entrepreneur. He went to all aspects of the music business to pursue his passion. Creating his own label and convincing his family for a loan.

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

He had no character growth during the Korean War? He obviously experienced many changes. The sudden shift from waiting for a letter for a song, to getting drafted, then immediately two years later is confusing.

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

               What was your relationship with Gwen after your divorce? You still had her around, why?

Did you know of the relationship of Marvin Gaye and his family when he was still around? Explain more on how you felt about his death?

How was Michael Jackson, a person you saw perform as a little boy, death impact you?

               

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

His opinion on hard work would be its easy to have a desire and go for it, but keeping that dream alive, once you attain it, is much harder work. In this case, his interest in music. It started as a passion that he strived for but as time went on it became work. I am not sure if I share that opinion, he has lived a whole lifetime and I have yet to experience that. Time will tell.

Figuring Out Buyer Behavior No. 1

Sketching Out the Beginning of the Buyer Behavior Process

Choosing a segment:

I chose the segment of old people who get dropped off by their children or grandchildren. In each of my interviews they all responded well. They trailed off and wanted to talk. I asked them if they enjoyed having people talk to them, they did. In one interview the lady said that she gets dropped off by her grandchildren and they leave after they drop her off. The other two were with their children who were taking them to get their regular eye exam.

What I learned:

                I learned that the demand for customers to want my service in this segment of people is wanted. All of them want conversation which an optical and ophthalmologist provide. It also helps having a centralized location for this service because it allows the elderly to not feel like a burden to have a ride to get taken to another place.

                When I asked them how they get around this problem they said that they get referred by the optometrist to go to an ophthalmologist. They call their children or grandchildren to take them there, but usually they go there days or weeks later.

How would I describe this segment:

                This segment has a want for this service because they are elderly and do not have much meaningful conversation because their family is at work. This service provides a centralized location for all aspects of eye care which this segment needs and because of the two environments, provides a friendly environment where the elderly would get a lot of human interaction.

Idea Napkin No. 1

Piecing it All Together

1.       I am a second year college student who aspires to become an optometrist. I have been exposed to the optical business my whole life. If I pursue my idea of creating an optical that has an ophthalmologist and optometrist in the same space then I believe it would be very profitable. I would be the optometrist and owner and I would have to hire a ophthalmologist. This would take a great amount of time in my life because when I am not the optometrist I have to manage an optical.

2.       The service I will be providing is bringing all aspects of the optometry field into one. This provides a central location for customers and creates a friendly environment.

3.       I am offering this service to people who have eyes and are aware of eye care. I am offering this service to people who find it easier to drive to one location and have friendly relationships with the employees rather than random people. I am offering this service to elderly people who do not have people to talk to.

4.       Customers will be drawn to my service because it is convenient for them. It also provides an environment where the connections with people are more personal rather than a doctor’s office where you wait in a cold room looking down on your phone. An optical setting has a lot of movement and conversation which ophthalmologist practices do not have.

5.       What sets me apart from other optical is that I will be the optometrist as well as the owner. And my service is different compared to other optical and ophthalmology practices because it will be in one centralized spot.

From previous feedback from people in the business I have learned that my service is going to be hard to accomplish, not because of the customer convenience but because of the wait time that an ophthalmology practice requires. Comparing the two, an optical business requires movement and money transactions at a fast pace because it is a business rather than a health service. SO figuring out how I can fit the two together is what I want to find out.  

Elevator Pitch No. 1

Practicing your Pitch

                                                        https://youtu.be/rdITkB14ANo

Testing the Hypothesis, Part 2

Continuing your research opportunity 

I am switching my business plan that I want to start. I will be focusing on creating an optical that has an optometrist/ophthalmologist.  I conducted 5 interviews answering Who, What and Why.

Who: In my interviews, I found that there are people who are currently not in my market because of certain circumstances or competition. Some of the factors of why people were out of reach in the market were not having insurance, not enough money, online competition and almost perfect or perfect vision. Two of the interviewees were UF students that were working to stay in school and had purchased glasses at an online store. When asked about having an eye surgery they both chuckled because the price would have been unreasonable to do it again in seven years.  Another interviewee had perfect vision all her life and when asked about yearly checkups at an optometrist she said that she gets all her medical appointments done consecutively at her local hospital.

What: One of my interviewees brought up a focus point that neither I nor anyone previously mentioned. How can they trust an ophthalmologist if they are in an area where the main goal is to sell glasses? He believed that an optical and an ophthalmologist practice being separate businesses allow people to trust the doctors more.

Why: I believe that the needs of those outside do not differ, rather it is circumstances that apply. Everyone needs eye care, whether they can access that eye care is the question. Going back to the interviewees point on trust, that point is valid and something I will have to brainstorm on.

Inside the boundary

Who is in- people with glasses, elderly people, young people, people with eyes

What the need is- It is having a centralized area where people can access eye care easily

Why the need exists- Everyone needs eye care, everyone has eyes

Outside the boundary

Who is a not- person who cannot afford it, people who are not educated on eye care, people who do not trust professionals, people who purchase online

What the need is not- It is not about having a centralized business where the optical and ophthalmologists collude to get the most out of people’s pockets

Alternative Explanations- Not everyone has access to eye care

Solving The Problem

The Second-Most Important Part of Entrepreneurship

The problem proposed is that the field of optometry and eye care is developing and expanding due to innovations in technology. And optical’s and optometrist’s feel threatened that their jobs and businesses may become obsolete. I propose that I provide a product/service where new innovations in the field of optometry are easily accessible and easy to read. Where tech companies as well as other eye care companies are put on the magazine and online site to show what they are coming out with. And in that service have company numbers that can teach optometrist’s about the new innovations so they can know what to expect and how to use it. It may be a subscription newspaper for optometry innovation. There are similar subscriptions, but I believe I can create a product/service that is accessible online and physical copies. And with the subscription have videos that show the new innovation, how it is used, what to expect, and where to learn how to use it.

Forming an Opportunity belief

Forming an opportunity belief

Technology has been changing and re-branding what it means to be an optometrist. First, the introduction of laser eye surgery was thought to make the job of an optometrist obsolete; it did not. Now people are speculating that by 2030 the eye care field will completely change. How much longer will the practice of optometry be around? Will Optometrists already in the field have to relearn the new tools that will developed in the future?  

Who? – Optometrists that will not be retired by 2030

What? – Development of technology in the eye care field

Why? – The eye care field is not only a health field but also a consumerist market, therefore causing more breakthroughs in the field because of competitiveness and profit

Testing the Who? :

Are there others who have this need?

·         Consumers, businessmen, insurances, companies

Testing the What? :

                What are the boundaries of the need?

·         Are all optometrists scared about the volatility of the job? Are optical afraid of glasses becoming obsolete?

Testing the Why? :

                For the people who have the need, what are the range of Whys that they offer?

·         Consumers may want faster wait times, faster prescriptions, instant eye sight. Businessmen may want to tap into a huge market and compete with optical. Insurances may want to know where the money is going to next to invest. Companies may want to know where the money is going to next to invest as well.

Interviews

Interview 1 - This interview was with an employee that has been working in the business for five years.

I believe that the optometrists won’t become obsolete because money is being pumped by colleges into this career. They simply cannot make a whole career become obsolete. If anything were to happen it would be a long transition. Therefore I do not believe that optometrists are insecure about their jobs. In turn, optical’s would not be afraid either because glasses are not only a tool to help improve life but it is also a way of living, a style. I do agree that consumers want faster wait time and prescriptions, but I do not believe that if those developments were to occur in technology it would make the job of optometrists obsolete.

Interview 2 -This interview was with my Dad who has been in the optical business since he was very young. He owns an optical.

Being in this business for long, I have seen many innovations in the field. Each has had their upsides as well as their downsides. Regarding the laser eye surgery, it was the closest to taking out the Optometrists job, however the technology is just not developed enough to completely eliminate the use of glasses. The economy has too much into the business to simply throw it away, which is why I do not think that neither glasses nor optometrists will be losing their use. Owning an optical it is important to have quick movement between customers, so I am looking forward to developments in the eye care industry to help reduce wait time for prescriptions and eye tests.

Interview 3 – This interview was with a regular customer at an optical.

Innovation is guaranteed, it is up to people in the field to adapt and to show that they are still desirable. Getting an eye exam every year is a pain, and the amount of time I have to wait is a long time. If I can have perfect vision after one exam I would do it. I have thought about laser eye surgery but you have to continuously get the surgery every certain amount of years, and eventually you have to go back to glasses. So I do see a need development of technology in the eye care field.

Interview 4 – This interview was with an optometrist

Every year there are seminars that show new innovations in different fields.  I was told by a friend of mine who had gone last year that my job was going to become obsolete. Luckily I am going to retire soon so it is not a problem to me. I do wonder what the next generation of optometrists will have to learn. Are they going to rely on machines more? Is the job going to be transitioned to learning how to use, read, and take care of a machine?

Interview 5 – An ex toll collector on the highway

Innovation has improved many lives. Everything is faster and more connected. I was a toll collector on the highway, but that was taken over by innovation. I had to find another job which was hard. But my job is skilled labor. I do not see any reason why the field of optometry would leave optical’s and optometrists in the dust. They are going to transition the field progressively rather than abruptly.

From these interviews I learned that the field of optometry and eye care cannot simply vanish because too many jobs would be lost. It is too deeply embedded into the economy to change the market from technological breakthroughs. If one were to occur they would work with colleges, optometrists, and optical’s to transition everyone to the new technology.

 

Identifying Opportunities in Economic & Regulatory Trends

Identifying Opportunities in Economic & Regulatory Trends

Economic trend: Millennial's and the Myopia Epidemic

 https://www.ihireoptometry.com/careeradvice/pages/optometry-industry-trends-2018

·         This opportunity exists because the new generations are using tablets, computers, and getting less exposure to the sun which according to the article are all related to having a higher chance of myopia(nearsightedness). In the article they say that more than 2 billion dollars a year are spent on medical costs for the eye. This will only continue with the rate of tablet usage and the transition to technology.

·         The opportunity lies with the optical, optometrists, ophthalmologists, and insurance companies.

·         The opportunity is easy to exploit because everyone needs glasses and their eyes checked. It is one of the seven senses, probably the most used.

·         I found this opportunity because I am very passionate about optometry and vision care. I want to work in this field so I believe it is my responsibility to be up to date with the trends.

Economic Trend: Climate Change is causing more disasters, specifically fires

https://www.thebalance.com/top-usa-future-economic-trends-3305666

·         With climate change affecting the globe many towns are affected by random fires. This has caused damage to many homes and businesses. Many people do not have enough money to build their houses back up and are forced to relocate. What I propose is to start buying their land for cheap, and renovating the land.

·         The opportunity lies with people who lost their homes to fires, real estate investors, investors, building companies, contractors

·         This opportunity seems easy to exploit considering families would ought to be desperate in getting something back from the fires.

·         This opportunity was brought to light when I saw major fires on social media and how people were rebuilding. I wondered if everyone was rebuilding.

Regulatory Trend: Elon Musk’s Tunnel system

https://www.cnn.com/2018/12/19/tech/boring-company-tunnel-elon-musk/index.html

·         The future is transportation underground. Elon musk believes he can solve major traffic if he builds tunnels underground that take cars individually to another destination without the person having to drive. It is still in its developing stages, but I believe an opportunity to invest early because it will become the future of transportation.

·         The opportunity lies with investors, companies, contractors, government

·         This opportunity is not easy to exploit because one must have a lot of money to invest. But I do believe new ideas can be sprouted once it is functional. Perhaps, underground cities?

·         This opportunity was brought to my attention because I like Elon musk and Tesla.

Regulatory trend: Ex-Felons in Florida can vote

https://www.vox.com/policy-and-politics/2018/11/6/18052374/florida-amendment-4-felon-voting-rights-results

·         If ex-felons can vote than there exists an opportunity for candidates that want to run for governor, mayor, senator, etc. in Florida have a larger pool of people. A different demographic, they have to appeal to them and may campaign to provide better and more jobs for ex-felons. This can open up opportunity for businesses to get funding to open up their businesses to felons for additional funding.

·         The opportunity lies with ex-felons, political parties, businesses

·         This opportunity is a bit hard to take advantage of because it requires steps to achieve. Initially not many businesses are going to hire without some sort of incentive. Which is where the future is heading with the new candidates that will be running for office in Florida.

·         I found this opportunity because many people have been politically involved on social media and it shows up all over my feed.