Final Reflection

I think the most formative experiences where the elevator pitch and the venture concept. The elevator pitch taught me how to present an idea quickly, with no time for superlatives. I believe this is a very useful tool that will allow me to quickly explain business concepts in the future. The venture concept was similar but was a more in depth fleshing out of my idea, which I thought taught me a lot about the business I was trying to create.


I feel as though after this class I do see myself as someone who has an entrepreneurial mindset, but I don't yet see myself as an entrepreneur. I believe I would have to earn that title through actually starting my own business and devising a plan to make it succeed. I think one day this is something I will accomplish, but it certainly hasn't happened yet. I do think I've moved closer and developed an entrepreneurial mindset.

I would suggest they go in person to the class every week since that gives more insight into being an entrepreneur than simply doing the assignments. I'd also suggest they actually give their business proposal a try and see if it would be successful. Overall, I think this class has taught me a lot about how to overcome failure and learn from previous mistakes in order to create a successful business, and I hope I'll be able to apply these lessons in the future.

Venture Concept no.2

Name- GitFit
Opportunity- My opportunity group covers anybody who isn't currently in shape. Essentially, it provides a method for trainees to find a personal trainer that they can connect with, and that is in their budget range. There isn't currently a social media or website built to connect individuals with personal trainers. For this reason I believe it is a large opportunity. Essentially, the way the app would work is trainers would be charged a small fee every month that they use the app. This fee would be 50 dollars. This may sound expensive, however one must consider the fact that this app provides them with free advertising to a large network of clients. This helps trainers by giving them a larger network of clients. 

Innovation- The innovation of this idea is the concept of an application which makes it easy to find personal trainers. Currently, most personal trainers either work directly for gyms, or they work independently and run their own website/social media where they try to find customers. This seriously makes it easier for both the trainers and trainees logistically, and convenience wise. Since its not a large investment for trainers they likely would benefit more from the exposure than from advertising independently, and on top of that they wouldn't have to do the work anymore.

Venture Concept- As I stated early, under the status quo trainers typically work at an individual gym, or they advertise independently. This is terrible for customers, since they have very little options. Either use the trainer at your gym, or hope the personal trainer you bought independently is a good one. With the app, they can see reviews of trainers, and pick from a wide variety of independent trainers with different prices. For the trainers, this app makes their job much easier since they no longer have to worry about advertising themselves to potential clients. Additionally, I plan on offering a certification class which works through the app in order to help beginning trainers become certified. 

Three Minor Elements
1. My most important resource will be my human capital in the form of advertising. Since I have connections in the digital marketing world I think it will be very possible for me to create a large amount of exposure for my application through social media advertising. If this is possible and I can get a good base of users, natural growth should take over from there.
2. What's next is creating another fitness application which asks as a community for discussion regarding fitness related topics. The fitness community is a tight one, however there really isn't any social media connecting people in the fitness world. I believe if there was a community such as this, many individuals would join and it would achieve great success.
3. I want to help grow this venture concept until I can find someone who can grow it even better than I can. I would grow it and then let someone else run the business, while still remaining a large equity holder in the company. Afterwards I would look to either start my own business or help someone else start their business and ultimately just look for large amounts of equity in individual companies to help accumulate assets.


2. I would say a lot of the feedback I received was very positive. Most people thought it was a good concept and I had outlined it well, but suggested minor tweaks and in-app suggestions to make the user experience more friendly. 

3. The main change I made was that I added the certification course. Now, there is a class in the app which will allow individuals to get their personal trainer certificate. I believe this will make the app more accesible to most people who are into fitness and work out, since they can take the class in the actual app itself. I did this because some people were focused on the app as a part of the fitness industry and giving more people jobs, and I believe allowing trainers an easy way to get certified will do this perfectly. 


picture from https://i.ytimg.com/vi/emxEhfwori4/maxresdefault.jpg

Exit Strategy

I have an exit strategy to eventually repurpose my business into a broader network. Eventually, I'd like to turn gitfit into a more general community app for those interested in fitness. They could use this community to discuss routines, share memes, and ultimately relate to one another. Looking even further down the line, should this idea become successful, I think I would eventually look at selling the app, or at least a majority stake in the app, and using the profits to invest into other types of economic markets.

I think this is the best strategy because it has the most potential. The community could undoubtedly be worth more than simply an app to market personal trainers. I truly think this is an idea that, given the app already has a base, could truly take off and become very popular. Should this happen, I would look to sell a majority stake in the company, and use the profits to invest in other markets. To me, once money is acquired, it should ultimately be invested to receive longer term benefits that will eventually pay off. In doing so I could retire if my investments can accrue to be a livable amount of money. This could be from buying real estate, or even starting another business.

I don't think this exit strategy has influenced other decisions much. if anything it would make me more focused on building a large userbase for the app, and in tern acquiring worth for the business. If I had a different strategy which didn't involve selling the company, I would be more focused on generating revenue rather than pure value. 

Reading Reflection No.3

How to Fail at Everything and Still Win Big: Kind of the Story of My Life, by Scott Adams  

The general theme of this book was definitely about failure. Adams has failed at so many things in his life, but no matter what it was he kept fighting and eventually made it work. The message is to just keep trying and pursuit whatever you want too, and what you believe in.

I think this connects completely with what I've learned in Ent3003. One of the major messages throughout this course has been that failure is necessary in order to succeed in the long term. If one never fails, they likely aren't challenging themselves and truly trying to accomplish success. Entrepreneurs describe this mantra perfectly. So many successful business owners started by failing at creating their own business, and lost money. After learning from this mistakes however, they become more successful, showing that learning from mistakes is critical. 

I'd say this exercise would involve a month long project where a student must start a project/business, try their hardest to make it work, and then analyze the mistakes made at the end of the project. The objective wouldn't be to start a successful business, since doing so in a month is impossible. This project would however show what it takes to start a business and give students a much better perspective on entrepreneurship than simply reading a book would. 

One aha moment when reading this book was when Adams discussed passion. Adams alludes to a concept called personal energy. He claims that passion is something fake, and has a certain mystique too it. Personal energy however is what gets a person excited and feeling energized. He goes on to say one should do what gives them personal energy, which is a concept I completely agree with. 

Celebrating Failure

One time during this semester when I failed was when I tried to start a clothing site. My friend approached me and another mutual friend and said he wanted to start a vintage clothing store. We would look for clothes, and then post them online on instagram to try to sell them. We thought it was a good idea, came up with a name and started working. I made the website, and my friend went and found clothes and posted them. I say this was a failure because that was the last time we did any meaningful work on the project. We realized how many other brands had similar ideas, and realized without some niche or extremely high quality clothing, we were very unlikely to succeed. We still may revamp the project, but as of right now it seems like a crowded industry that is hard to stand out in without some distinct advantage,

I learned that one should always have more of a concrete plan before going headfirst into starting a business. Also, that you should do more research before starting a clothing company. Additionally, I realized that unless your all in on an idea and you really think it will be succesful, you probably shouldn't do it. If I was truly passionate about starting a clothing company, I would likely have put far more effort into making it work, but since it wasn't something I cared about I could drop it without feeling guilty. I think failure is a neccesary evil in life. It might cause us distress but it ultimately teaches us and shows us that we did something in correctly. I try to live by the motto that if you just keep showing up and doing something, no matter what it is, eventually you'll get much better at that something.

Venture Concept #1

Name- GitFit
Opportunity- My opportunity group covers anybody who isn't currently in shape. Essentially, it provides a method for trainees to find a personal trainer that they can connect with, and that is in their budget range. There isn't currently a social media or website built to connect individuals with personal trainers. For this reason I believe it is a large opportunity. Essentially, the way the app would work is trainers would be charged a small fee every month that they use the app. This fee would be somewhere between 20 and 50 dollars. This may sound expensive, however one must consider the fact that this app provides them with free advertising to a large network of clients. For this reason the app is a win win for trainers, since they will ultimately make money in the end if they make more than $50 a month from clients found on the website. This also makes it great for those looking to become trainers without a lot of experience since they can easily gain access to many clients. Additionally those purchasing trainers will be happy as well, since they get more options and can compare the different trainers and their prices directly at face value.

Innovation- The innovation of this idea is the concept of an application which makes it easy to find personal trainers. Currently, most personal trainers either work directly for gyms, or they work independently and run their own website/social media where they try to find customers. This seriously makes it easier for both the trainers and trainees logistically, and convenience wise. Since its not a large investment for trainers they likely would benefit more from the exposure than from advertising independently, and on top of that they wouldn't have to do the work anymore.

Venture Concept- As I stated early, under the status quo trainers typically work at an individual gym, or they advertise independently. This is terrible for customers, since they have very little options. Either use the trainer at your gym, or hope the personal trainer you bought independently is a good one. With the app, they can see reviews of trainers, and pick from a wide variety of independent trainers with different prices. For the trainers, this app makes their job much easier since they no longer have to worry about advertising themselves to potential clients. With the introduction of this app, we take on that responsibility, and they simply have to pay a smaller fee every single month.

Three Minor Elements
1. My most important resource will be my human capital in the form of advertising. Since I have connections in the digital marketing world I think it will be very possible for me to create a large amount of exposure for my application through social media advertising. If this is possible and I can get a good base of users, natural growth should take over from there.
2. What's next is creating another fitness application which asks as a community for discussion regarding fitness related topics. The fitness community is a tight one, however there really isn't any social media connecting people in the fitness world. I believe if there was a community such as this, many individuals would join and it would achieve great success.
3. I want to help grow this venture concept until I can find someone who can grow it even better than I can. I would grow it and then let someone else run the business, while still remaining a large equity holder in the company. Afterwards I would look to either start my own business or help someone else start their business and ultimately just look for large amounts of equity in individual companies to help accumulate assets.

What's Next?

Existing Market. 

     I think what's next in the fitness industry is some sort of app which can connect people who share fitness backgrounds into a broader community. This app could be used for a lot of different things, but just some sort of community app connecting people in the industry.

     With all that being said, after interviewing a few people I think I learned more about the type of application I'm trying to create. Yes, my application should have the underlying idea of making sure that personal trainers are on the app to find clients, and clients looking for personal trainers. However, in doing so I should make sure that the app has a feel of community and discussion to it. You should be able to feel connected to other people when using the app, and should always feel like you're learning.

     This can be achieved in a number of ways. I could have trainers post longer discussions about the method behind their training, and then allow clients to chat with a trainer before deciding if they will actually utilize them. I could also allow a feature that would let individuals connect with one another to find gym partners or group sessions in local gyms near them. Regardless, its clear that I should focus on making it a community app rather than something purely financial for trainers and clients. 

New Market.

Another market that my app doesn't currently apply to is pre workout supplements. This is a type of product prevalent in the fitness industry that continues to gain popularity. While some people continue to not use it, other people find it very useful to use and give you energy before a workout. 

I believe my venture concept could create value for people involved in this market. If my application can be successful at creating a community within this industry, it would be very valuable. Pre-workout and even other type of supplement companies could use my website as a huge marketing asset. They could provide ads for their products on my website, which would likely be very similar to their market as well. 

I believe I learned a lot from looking into this market. I expected that there were a variety of different products, and only a few products would be successful companies. I was somewhat wrong. While this is no shortage of companies, it appears that there were more successful and popular companies and products on the market. It is a competitive market, and unless your product is high quality it will get destroyed from poor reviews.

I don't think this market is nearly as attractive as mine. There are already so many different companies that unless your product is clearly a level above the rest of the products, it will not be given the time of day by consumers. As a result, I think achieving large amounts of success in this industry would be very difficult and take a large amount of effort. 

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Your Venture's Unfair Advantage

• Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) 

Resource List

1. Human Capital in development process- I know multiple people who code that can create a well working app.

Valuable- Creating code provides a significant amount of value through improving my apps content.

Rare- While more and more people are learning how to code it is still an impressive and rare skill. 

Inimitable- Coding is imitatable, however I can put a patent on code written for my app. 

Non-Substitutable- Other people could create the same resource.

2.Human Capital in Advertising- I have connections with someone who runs a digital marketing company.

Valuable- This is extremely valuable since it can lead to me acquiring customers.

Rare- Not many people own a digital marketing/advertising company.

Inimitable- Other companies could use digital marketing as well, but having a direct contact gives me an advantage.

Non-Substitutable- Other companies would have to spend more money to acquire the same benefit that I would get.

3. Human capital to gain feedback, living on a college campus could allow me to advertise the app to students and get feedback from it. 

Valuable- Getting feedback to improve the app allows me to fix major issues.

Rare- Not many people live on a college campus.

Inimitable- This resource could be inimitable.

Non-Substitutable- Other companies could come to a college campus and get feedback as well.

4. I have financial capital(money).

Valuable- Money clearly has value.

Rare- Money is somewhat but not extremely rare.

Inimitable- Other people can get money.

Non-Substitutable- Some other resources are worth money as well. 

5. I have taken a high quality class teaching me how to be an entrepreneur.

Valuable- This class taught me skills that were definitely valuable.

Rare- Not many people have taken this class.

Inimitable- Most people can't just come to UF and take this. 

Non-Substitutable- Other entrepreneurship classes aren't as good.

6. I've attempted to start other business projects so I can learn from the previous mistakes I've made.

Valuable- I would say the knowledge and experience makes this extremely valuable.

Rare- Not many people start their own businesses.

Inimitable- Other people can't copy the experience that I've developed. 

Non-Substitutable- This is a hard resource to substitute although it is possible.

7. Originality- My app will be the first of its kind so I will have a large market share to start. 

Valuable- This is valuable since I have no direct competitors while entering the market.

Rare- Many ideas aren't original.

Inimitable- Someone could theoretically copy my idea.

Non-Substitutable- It is hard to develop a new idea. 

8. Social capital- Network of followers from social media. 

Valuable- I don't have an extremely large following but it is somewhat valuable.

Rare- Not extremely rare nowadays but still a help.

Inimitable- Others could advertise and connect with their social media as well. 

Non-Substitutable- Other companies could match this through advertising.

9. Statistical knowledge, I can read and understand statistics well. 

Valuable- Knowing Statistics is very valuable in terms of making the correct business decisions that will benefit you.

Rare- Stats knowledge is somewhat rare since not everyone has had the same exposure to it that I have. 

Inimitable- Others could take statistics courses as well but it would take a large amount of time.

Non-Substitutable- You can't substitute this knowledge unless they employ a statistician. 

10. Good communication skills.

Valuable- This is valuable to get clients and business partners.

Rare- This is somewhat rare but many people have good communications skills.

Inimitable- Not everyone can just develop good communication skills.

Non-Substitutable- This is hard to substitute without employing somewhat like a salesman. 

After doing this, I believe my best asset is having human capital in advertising. I believe this will help me make my app more public and give it more exposure. This will help the app become more popular and spread across networks of people and social media. 

Elevator pitch 3

https://youtu.be/HbgqEdzNpvQ

From the reflection, I realized I had some awkward phrases, which I listened too and ultimately took out. I also worked on the presentation of the pitch itself, and tried to change my body language and gestures.

Reading Reflection 2

The book I chose was Makers by Chris Anderson

There was definitely a general argument made by the book. Anderson Argues that in the close future, everyday individuals will move from being workers to producers, or "Makers" as the title would suggest. Basically, as economies move forward and 3d printers and other goods make producing things easier, everyday people will design and create their own everyday products, ultimately giving workers the means of production.

I think the theme only somewhat connected with ENT 3003. The similarities are obvious, in that people, especially entrepreneurs, can create in order to benefit themselves. In the book this is through producing goods and in ENT3003 its from starting a business. The differences are very large though, since this class largely doesn't discuss the economy of the distant(or not so distant) future. Additionally Anderson's book doesn't exactly say that everyone will be a business owner, just that everyone will be a maker. 

I would say an exercise based on this book would be to design an actual product. Instead of a business concept, design and sketch an actual product that you would use in your everyday life. 

I believe the biggest aha moment came when Anderson explained how most of this creating would be done, in the form of 3d printing. After understanding that most of the "making" he talks about would be done through this, I understood that this is actually a scenario that is feasible within the next few decades. 

Growing Social Capital

The first expert is my friend named Mike. He has a lot of experience developing apps, and experience running his own companies as well, making them the domain expert. I knew this person from high school and contacted him via text message. I asked him to meet with me and discuss this potential app idea. There is essentially no return expectation. Including him in my network will help me both develop the app itself and manage the business as a whole.

The second expert is my old UF roomate, Shane. Shane is a fitness guru, an avid weightlifter and a Tennis coach. I contacted him via phone call. I asked for feedback on my app and suggestions to advertise to the fitness community/industry. In return he said I have to let him be the first trainer on the app. Including him will help me get a feel for how to appeal to fitness as an industry. 

The final expert is OmarIsuf. He makes fitness youtube videos and has his own line of fitness products. I reached out to him via email to see if he would be interested in the app or promoting it. He said he would have to see the app, and receive compensation in return. Including him would help me reach a wide audience of those interested in the app 

This experience will shape how I network in the future. Since I have three dedicated experts at my disposal, now I just need to use them correctly, and try to get these experts to connect me with other experts in their respective field. This was different from previous networking since I was looking for an expert in a field rather than just feedback. 

Idea napkin 2

Please describe the following:
1) You.
I am Nick, a student at the University of Florida. I have experience in coding from taking multiple classes and coding during my internship in Denver. I also have experience working in a corporate office. I believe this helps me with the skill of professionalism and approaching business opportunities. I see this business being a way for me to get started in entrepreneurship and see how well I can do. 
2) What are you offering to customers? 
I'm offering GitFit, a fitness app for both trainers and trainees. Essentially the trainers pay a subscription fee to be on my app and get exposure to a large network and clients. In return, individuals get to select from a wide variety of personal trainers that can help them with fitness.
3) Who are you offering it to?
I'm offering this to fitness beginners. This is because most of those who are already in shape and work out don't need a personal trainer. I'm also offering the advertising portion of the app to personal trainers, mainly newer personal trainers who havn't established their independent brand or market yet. 
4) Why do they care?
They care because fitness and health are important aspects of everyday life. A lot of people want to get into shape but have never been able to, and this is who my app is geared towards.
5) What are your core competencies?
What sets GitFit apart from other companies is convenience. It is extremely easy to use for the trainers, since they don't have to advertise themselves, or make their own website. They can simply use our app to find clients. This makes it easier for consumers as well. It's easy for them to browse and find a high quality personal trainer who meets their needs and isn't as expensive as more established personal trainers. 


I believe these are all aspects of my business that naturally flow together. Two of the main things I summarized from this post is that the personal trainers should be newer less established personal trainers both because they cost less and they are more likely to actually use this app. The second is that for consumers, I must focus on wanting and encouraging individuals to make a fitness change in their life. 

Elevator pitch 2

Customer Avatar

I beleive my customer avatar is a middle aged individual who is relatively out of shape. Perhaps they've always had intentions to get in shape, and had brief stints where they were in shape, but they struggle with consistency and often lose results quickly. They probably have a couple children and a job which occupys the majority of their time, which makes finding gym time difficult.

I beleive I do have something in common with this avatar. A few years ago I was extremely overweight and definitely out of shape, and I found it difficult to overcome this. While I was able too, I feel like this would've been much easier if I had a personal trainer to help me. I don't think this is a coincidence, since my choice to develop this app is definitely partly because of my experience with getting in shape. If most people thought getting in shape was easy, there wouldn't be a need for personal trainers.

Figuring Out Buyer Behavior No. 2

In these interviews, I looked for how individuals view alternatives to my fitness app that connects individuals to personal trainers. I believe these alternatives are mainly personal trainers offered by gyms, and freelance personal trainers.

The first thing I realized is that price is a very important aspect. Freelance personal trainers charge the most, and the three individuals I interviewed all said that while they may have considered getting a personal trainer, the cost for a freelance one was far too large. As a result, I think its important that since my app is such an informal way of training, and since a lot of the personal trainers on my app would be beginner personal trainers, making sure cost is comparatively low is very important.

Additionally, since the app would be very easy to use, the segment using the app would also be the segment least likely to actually go out and find a freelance personal trainer. However, personal trainers offered by gyms do seem like a larger threat to my business concept. Since these are usually cheaper they are the more likely alternative, however most gyms offer a limited amount of trainers, so if an individual doesn't like theirs I still think my app would have a large audience. The segment who would use my app is most likely to buy online, and pay online.

Ultimately though, the most important component to the success of my app will be if people enjoy their trainers. This is why I've decided to try to make the app as inclusive as possible, and make it clear that this is an app for people trying to get into the fitness world, from training or from more experienced individuals being a trainer. The key to doing so is making sure that the individuals and trainers on the app have a healthy mentality regarding lifestyle and fitness.

In conclusion, while there are some alternatives to this app, I think the way I make the app stand out is through being very hands on and beginner friendly. In doing so I can make sure that people will come back and use the app again.

Reading Reflection

1) I was very surprised that Elon Musk was willing to take such a large risk with Spacex and Tesla after already acheiving success with paypal. The fact that he almost went broke after making so much money proves that any real goal requires betting on yourself and taking risks. I most admire Elon's work ethic and ability to think through problems. On the flip side, I believe living a balanced life is crucial and this type of insane drive could lead to personal and family issues, so I would also say this aspect of his drive is a quality which I least admire. He clearly went through failures such as when tesla almost went bankrupt during the recession, but through perseverance and remaining tenacious, he made it through.
2) I noticed Elon recognized a lot of competencies. As previously mentioned, his work ethic is something that can't go unnoticed. Being able to be the CEO of multiple companies, while still working as an engineer shows a lot about not only his work ethic, but his humility. While he is the leader of the company, he's still willing to work on product issues and guide engineers to find the correct design choices.
3) I would say I was confused as to the exact reasoning behind Musk starting spacex. I understand it's something he's passionate about, but it definitely is outrageously ambitious. Its a field nobody had achieved success in, both in terms of establishing a company, and making it profitable. Clearly Musk is smarter than me though, since the plan obviously has worked out.
4) The first question I would ask him is what is the biggest piece of advice he would give to himself 20-30 years ago. I would ask this because I feel it could be useful to many starting entrepeneurs since he would have special insight on how to be successful. Another piece of advice I would ask is how he finds motivation on his off days to pick it back up and still have a productive day. I find that I rely on momentum, and if I have a bad start to my day it could lead to a lack of productivity, and I'm interested to see if it's the same for someone like Musk.
5)I think Musk's view on hard work is that it's a neccessity to be succesful, but it is impossible to work hard without motivation and drive. For this reason, he thinks its key to work for a cause your passionate about, or else that hard work isn't totally worth it for your individual well being.

Halfway Reflection

1) I believe being punctual and paying attention to the deadlines is crucial in this class. If you can remember the due dates and get the work done ahead of time, I believe you will be succesful in this course.
2)Even during the first assignment, the bug list, I felt that this class might be too much work for me. With multiple weekly assignments due each week, I wasn't sure if I could keep up with it. However, getting the work done in advance and not waiting until the last minute has been key to making sure I don't give up and get all of my assignments completed on time.
3)The first tip I have is to set reminders on your phone wednesday and thursday, and complete one assignment on each of these days. Waiting until friday morning can be very dangerous. If you don't remember to get the work done as soon as you wake up, you'll likely get a zero. The second tip I have is to look at the assignments on monday to get an idea of how much time you have to dedicate to them. Some assignments can be done quickly, while others take a few hours to eomplete. Just looking at the assignments ahead of time will make sure that you're aware of how to manage your time in order to get the assignments finished. The final advice I have is to work through the assignments carefully and make sure to carefully examine the instructions before submitting. If you post the wrong link or fail to include a specific requirement, it could lead to your post not being given the point. Tenacity is deifnitely required for this tip, but I believe if you work hard you will succeed with it.

Image Source: https://marriagemissions.com/tenacity-marriage/

Figuring Out Buyer Behavior

Demographic- Out of shape people who want to start working out and get in shape, and beginner personal trainers.

1. The first person I interviewed was a friend who used to work out regularly, but busy school and work hours have caused them to get out of shape. They were clearly aware of their needs, and as we talked they said that they would love to get back on track with their personal fitness. When I asked how they would approach solving this problem, they realized that most of their issue was internal. They have experience working out, but they said that it isn't a large priority for them, and that they would get back into it when they had more time at their disposal. I then realized that this wasn't actually my target audience. People who already have some experience working out don't need a personal trainer to get them back on track.

2. The second person I interviewed was a very experienced weightlifter and Tennis coach. As we talked, he became interested with my idea. As someone with a lot of weightlifting experience, he had thought about becoming a personal trainer, but decided he didn't want to pursue it as a full time career, and instead decided to go to medical school. He was interested in my app because it seemed as though he could use my app to use personal training as a hobby/side job. Since the app wouldn't take a long time to set up, he could make an account, list his credentials, and immediately be connected to clientele. I think this is a great target demographic I hadn't thought of. People who aren't pursuing a career as personal trainers could use my app as a side hustle to develop their skills and make money on the side.

3. The third person I interviewed was an out of shape adult. They've always wanted to start working out but haven't found the motivation or drive to start. They also stated that they feel that fitness has a large barrier of entry. It's hard to get into fitness when your starting since theres limited information to work with to develop an effective routine. They thought my app was a great idea, since they could easily find a personal trainer on demand that could motivate them to achieve their goals.

Idea Napkin

Please describe the following:
1) You.
I am Nick, a student at the University of Florida. I have some experience in technology, I can code in VBA, and I have experience working in an office environment as I did last summer. I believe this helps me with the skill of professionalism and approaching business opportunities. I see this business being a way for me to get started in entrepreneurship and see how well I can do. 
2) What are you offering to customers? 
I'm offering GitFit, a fitness app that helps users find personal trainers. Trainers pay a monthly fee to advertise on our site, and app users have access to the app for free which helps them find the trainer that best suits them. 
3) Who are you offering it to?
I'm offering this to fitness beginners. Those who are already in shape and work out don't need a personal trainer. I'm also offering the advertising portion of the app to personal trainers. 
4) Why do they care?
They care because fitness and health are important aspects of everyday life. By making sure that our app and community utilizes positive reinforcement and a strong sense of community, a large amount of beginners will use our app in order to get in shape. 
5) What are your core competencies?
What sets GitFit apart from other companies is convenience. It is extremely easy to use for the trainers, since they don't have to advertise themselves, or make their own website. They can simply use our app to find clients. It's also very easy for consumers since they can browse a large amount of trainers rather than just looking at individual trainers offered by their gym or referred by friends. They can also look at reviews of the trainers, making sure they aren't inexperienced or unqualified. 

GitFit

Testing My Hypothesis Pt2.

Who- Yes, I discovered through critical thought and interviews that there are a large amount of people in the fitness community who do not fall into my boundary. This is primarily people who already have a developed routine or workout plan and are not interested in either being or having a personal trainer to help with their fitness routine. This is because they already have a routine that works for them, but they are not advanced or knowledged enough to actually be a personal trainer themselves.

What- I think the point at which my need differs with other similar ones is that my idea of an app connecting individuals to personal trainers is unique to people who are beginning their fitness journey. Since its hard for beginners to develop an effective routine that works for them, they often look towards trainers to get their foot in the door, and then get rid of the trainer once they have a solid grip on what they're doing. In terms of the needs of the personal trainers, I believe the same rule applies. Once trainers have a steady flow of customers they may choose not to use my app, but for beginner personal trainers it would be a very important tool

Why- The cause of the needs for intermediate weight trainers is different than beginners because of the large knowledge disparity. Beginners need more immediate help in the form of a trainer while intermediate lifters need more indirect help that they can attain themselves. As for the trainers, the needs of a new personal trainer are different because they don't have a steady supply of customers yet, so the need to advertise and market themselves is much larger.

Interviews- Throughout my interviews I found that my app would have to cater to people who are inexperienced in fitness and personal training. This is because those already experienced in fitness don't require a personal trainer to hand craft a routine for them, and trainers who are more experienced already have consistent clients willing to pay for sessions. This definitely changes the approach to my app and makes it much more about making a personal transformation to become more fit and exercise more, in order to attract beginners. It doesn't necessarily change the actual functionality of the app however, simply the manner in which I would have to market it to the public.

Inside the boundary
Who is In- Inexperienced personal trainers, and people who are out of shape and looking to get into the fitness world and work out more.
What the Need Is- Inexperienced people looking to workout more don't have the fitness knowledge required to make themselves a dedicated plan and routine, so they need a trainer to do it for them. Inexperienced trainers don't have a consistent flow of clients, so they can use my app to find those clients.
Why the Need Exists- The need exists because of gaps of knowledge in the fitness realm. It's impossible for beginners to just start and automatically know whats going to work for them and what won't, and inexperienced trainers simply don't have the clout or experience necessary to independently find customers at a fast pace. Outside the boundaryWho is Not- People who are already well established weightlifters or experienced personal trainers. What the Need Is Not- The need is not that experienced lifters need strength or conditioning coaches to get them to the next level. Even for individuals who fit into that category, they would likely look towards a personal trainer who is establishes and has many years of experience. Likewise, personal trainers who are well experienced and charge high rates will not be extremely appealing to beginners, and they likely have enough clients that paying a fee to advertise and my app wouldn't be extremely lucrative to them. Alternative Explanations- Another reason experienced lifters may not use my app is because they already have found a personal trainer that works for them, and don't need to use my app to find one.

Solving the Problem

My selected opportunity is in the fitness industry. The problem I'm seeking to fix is that there is no social media or networking app for people interested in fitness. This is a sizable portion of the population, indicating a large unmet need. For example, my mom has recently been trying to go to the gym but, being unexperienced, she finds it difficult. It would be so convenient if there was an app she could use to find someone experienced, a trainer, in order to help her achieve her personal fitness goals. I believe this is possible by creating an app that allows individuals to find personal trainers in their local area. This is a great opportunity for the trainers as well. By paying a small monthly fee, say $20-$40, they would be exposed to a large market of potential clients and customers. This would help them financially while also bringing in a large amount of revenue. It also is doing good overall, allowing people the opportunity to put their health first and get active into the fitness realm. They could browse local personal trainers until they find the one they most feel comfortable working with, as opposed to the current system where most people pay for whatever personal trainers their individual gym employs. There would also be paid advertisements on the app, generating even more potential revenue.

Testing the Hypothesis

I believe there is a big need in the fitness industry for an app which connects networks of people, mostly through the form of strength/sport coaching, and personal training.
The who- Personal coaches and trainers, and potential clients.
The what- Offer a subscription service to trainers and coaches in exchange for being able to use my app to gain clients. Clients browse the app for the trainer which best suites their needs and cost.
The why- Finding a personal trainer can be a little difficult right now, and having an app which connects them with clients would make it much easier both on the consumer end and on the trainers end.
Hypothesis- I believe theres a significant amount of personal trainers who would use an app that markets to local individuals in their area, in exchange for a monthly fee. I also believe a large amount of individuals who play sports, lift weights, or want to get in shape that would use my app to find trainers.

Interviews- In my interviews I found that while most of the people I personally talked to said they wouldn't use the app themselves, they said that they clearly see the potential and think there would be a significant amount of people who would use it. A couple people said that the first step would be getting the personal trainers in the door, which I agree with. I thought this could be solved with a limited time offer of 1-3 months free for the trainers. I was also told that sports coaches wouldn't be a large market since there are already networks connecting sports trainers, whether it be college athletics, or local athletics. For this reason I've decided to gear my app more specifically toward strength training and regular personal trainers.

Opportunities

Regulatory Opportunity 1-Vapes
a) I found out about this online, on vox https://www.vox.com/the-goods/2019/9/18/20872295/flavored-vape-ban-what-it-means-vapers .
b) I believe this suggests that an opportunity is there for regular vapes to take over. With flavored vapes being banned, those who currently use them will look for the next best vaping alternative.
c) This is relative to active vapers, and individuals trying to quit smoking cigarettes.
d) This is not the hardest opportunity to exploit. With the vast majority of companies being banned from selling vapes in these states, this creates a regulatory opportunity to create a high quality, non-flavored vape.
Why I saw this opportunity- As a former vaper, I know just how addictive these things are. I saw this opportunity because I know first hand that many people in my age group will stop at nothing to continue this terrible habit. Despite the flavor bans going into effect, its clear that many people will not simply stop.
Regulatory Opportunity 2- Self Driving Cars
a) I found out about this online, https://www.wsj.com/articles/self-driving-technology-threatens-nearly-300-000-trucking-jobs-report-says-1536053401
b) I believe this presents an opportunity to establish a company that connects technology companies who create self driving cars to trucking companies, acting as a middle man of sorts.
c) This is relative to all trucking companies.
d) This is a slightly difficult opportunity since the technology companies could just directly contract with trucking companies. I do think its a great regulatory opportunity though since self-driving cars are currently banned, so once the ban is lifted there will be a large rush in the industry.
Why I saw this opportunity- I've watched many Politicians and experts such as Andrew Yang talk about the upcoming epidemic regarding self driving cars replacing truck drivers around the country. This made me realize, theres an opportunity to connect these two industries which currently isn't present.
Economic Opportunity 1- Electric Cars
a) I found out about this online https://www.greentechmedia.com/articles/read/us-electric-vehicle-sales-increase-by-81-in-2018 .
b) This large increase in electric vehicles would indicate that there is large potential in the already growing field of electric cars.
c) This is relative to anyone who doesn't own an electric car, or someone who does own one and wants another.
d) This is a very difficult opportunity to exploit. Building a car company takes years and a very large amount of capital.
Why I saw this opportunity- As a big fan of Elon Musk and Tesla, I know that in future years more and more people will be looking to buy electric cars. I also believe government incentives like the tax breaks in Colorado and Denver will increase the amount of consumers for these cars.
Economic Opportunity 2- eSports
a) I found out about this opportunity from my friend and former debate coach Noah, who dropped out of school to start a League of Legends team. He's now a multi millionaire, you can read about him here https://www.bloomberg.com/news/articles/2017-11-28/how-a-23-year-old-gamer-got-billionaires-to-back-his-esports-team
b)I believe this proves that theres an opportunity in the growing field of esports. With more people watching gaming tournaments this is a big opportunity to start a team or create a network for eSports players and fans.
c) This is relative to anyone who plays or watches video games.
d) This is not a hard opportunity to exploit. With the field growing at such a fast rate many eSports related sites, apps, and teams are growing revenues exponentially year after year.
Why I saw this opportunity- Knowing Noah personally, we would have discussions about video games constantly. Seeing him turn his passion into a full time business and job has been very inspirational, and I cant help but feel like this is a recipe that could be repeated for great economic success.

My Fitness Idea

1) I believe there is a large market which is untapped, the fitness community. While there are many social media apps and networks connecting people, the fitness community is one area that doesn't have any app like this and I believe this represents an untapped network of individuals.
2) The unmet need is an app which connects individuals with the common goal of fitness. The people who have this need are those who work out, play sports, etc, all within the broader fitness community. This need is not new and didn't exactly come from anywhere, but as social media has connected large amounts of networks and communities I feel as though the fitness community has been left out thus far. This need is currently being met by online fitness discussion forums, and fitness apps which help with things like running and lifting weights, however these apps fail to effectively create a convenient network that brings people together. I would say I'm 80-90% sure this opportunity exists.
3) The prototypical person is a fit individual who lifts weights or participates in sports.
4) I did this interview with my friend Sam, a fit young women who works out regularly. While she agreed that there isn't a fitness app which connects the community, she disagreed with my take on what the app should be like. I envisioned a tinder-like application where individuals could swipe on potential gym partners and then meet up and have a workout. She thought this was a little too basic and not something she would definitely use, since she already has workout partners. She was thinking more of a network to connect inexperienced with experienced lifters, along with personal trainers as well.
5) I learned that perhaps this idea needs to be fleshed out more. I was suprised she wouldn't use my app, but her reasoning made a lot of sense and it was clear that I needed to make some type of changes.

6) (4.2) The next interview I did was with my friend Peyton. Peyton works out occasionally, but he's not necessarily an active member of the fitness community, so I thought his opinion could represent a broader reach. He said he liked my idea and offered some constructive feedback which could diversify my app immensely. He said I should keep the concept of swiping on people, but add in more options. For example, I would put people in categories and individuals could select what categories theyd like to see while using the app. Powerlifting, basketball, or even personal trainers who could find new gym-goers and charge a fee.
(5.2) I learned a lot from this interview. Peyton gave me great feedback and I agree completely that a category based networking system allows individuals to specialize the app too their needs and would overall expand the network and make it easier for individuals to connect with those who share their interests.
(4.3) The final interview was conducted with my roommate Rohit.  He's an avid basketball players, and regular gym-goer, as well as one of the smartest people I've ever met. Rohit liked my idea as well and thought that it was a great way to connect people who aren't connected. He mentioned that often he wants to play basketball, but has difficult finding pick up games at some of the courts close to our apartment. Having a network would help with this problem. One great point he made was that the categories should be able to overlap since many individuals can't just fit into a single group and are actually more diversified.
(5.3) This interview reassured me that this is an idea that actually has merit, by showing me that there is a clear need for it, perhaps even bigger than I thought. His feedback about the categories was also insightful.

7.  A) I think a lot of the original opportunity is still there. None of the people I interviewed told me about some app I had never heard of, so the market certainly still exists. I would say all of my original opportunity is still there.
B) I definitely think my opportunity is more accurate than when I started. I originally envisioned an app like tinder for finding gym or sport partners, but being able to specialize individuals through categories is great for the user experience, and a much better concept overall.
C) I think entrepreneurs should always be willing to listen and adapt their products. Obviously some consumers could suggest harmful ideas so it's important to stay cautious, but willingness to adapt should always be there. No one person totally has the market figured out, and when you're implementing concepts for the market as a whole, the more feedback the better.

Local Opportunities

1. https://www.gainesvilletimes.com/news/289-unit-apartment-complex-proposed-next-one-about-open-braselton/
Title- 289 Unit apartment complex proposed next to one about to open in Braselton
Description- Essentially, a new apartment complex is opening right next to one which just finished building. This is part of a trend of many new apartment complexes opening in the area.
Problem- The problem is an influx of people, as well as students, who need housing, resulting in more apartments being built.
Who- This problem affects people recently moving in the area as well as the people currently living there who have their real estate values impacted.
Opportunity- With so many apartment complexes, this could open up the possibility for contractors and maintenance as many apartments will have large amount of logistical issues since its difficult to set up so many apartments in a short amount of time.
2. https://www.sun-sentinel.com/news/weather/hurricane/fl-ne-hurricane-dorian-evacuees-weigh-decisions-20190912-o6lmpmauczhydhusdyxf2z7ymu-story.html
Title- Bahamian Evacuees weigh Decisions
Description- Many Bahamians are coming to Florida as a result of the destruction of Dorian.
Who- This is a problem being faced by many Bahamian people.
Problem- Destruction from the hurricanes have left many people homeless.
Opportunity- While I don't see this as an economic of financial opportunity, I believe this is an opportunity to do great good possibly by creating a network, online or otherwise, to find people willing to support refugees, and connect them with future employers.
3. https://www.miamiherald.com/news/local/environment/article234995252.html
Title- FL Governor seeks 50% increase in pollution fines for cities
Description- The governor is trying to increase fines on pollution.
Problem- Many businesses and individuals are polluting cities, and the governor is trying to fine them to deter this, however the process of making business cleaner is also very costly.
Who- This impacts city governments as well as businesses and individuals who pollute.
Opportunity- This is a great opportunity to create a means of making businesses cleaner, perhaps by providing up front funds for things like solar panels and wind power which will later be paid off once businesses have profited and become sustainable.
4. https://www.sun-sentinel.com/news/florida/fl-ne-florida-python-fight-20190718-6dxnzli5ubc6vfeipzk2gd2r6m-story.html
Title- State claims progress in python fight, but still allows trade in other exotic animals
Description- Pythons have been let loose, invading areas in the everglades and dominating animals in the region.
Who- This is a problem for environmentalists as well as the animals who live in this region.
Problem- These pythons are invading the area killing a variety of species crucial to the ecosystem.
Opportunity- This is an opportunity for hunters and individuals to come in and find these pythons to remove them from the ecosystem. While it may sound far fetched, many areas in Africa where animals like elephants trample crops have become refuges for hunters who pay money to come in and hunt these same animals that are hurting the area. This is great for the hunters and great economically for the people receiving money from the hunters.
5.https://www.miamiherald.com/news/business/article232089827.html
Title- Amazon opens new Opa-locka fulfillment center to the public
Description- Amazon just opened a new center in Miami, the first Amazon center in the area.
Who- This impacts just about everyone in Miami but especially malls and retail workers.
Problem- Amazons expansion comes at the cost of many retail stores shutting down, putting people out of work. It's estimated 1/3rd of all malls will close in the next few years as a result of Amazons expansion.
Opportunity- This provides an opportunity to those in the area to say no to Amazon and protest the center and the area. As a result Amazon could take note of this and halt their expansion in the South Florida area, saving a large amount of businesses and jobs.

My Entrepreneurship Story

The first and main time I was truly exposed to entrepreneurship was when I met my step dad, and learned about his life. In his younger years, he was working for a small AC company which did work at various malls and restaurants. After years of working at a decent, but not very large wage, he came across an opportunity. One mall he had done work for came to him, and said they would not be renewing their AC with the company he was working at. They instead offered him the opportunity to totally take over the AC at the mall and do the work himself. It was at this moment that he decided to change his life and start his own AC company, Certified Energy Service. This is a company he still works tirelessly to manage and run today, and one that I hopefully will be able to manage one day as well.

Additionally, a main reason I enrolled in this class is because one day I hope to run my own business. While I'm not sure what it will be or when it will happen, I want to develop an entrepreneurship mindset which seeks out opportunities, rather than waiting for them to knock on my doorstep.

Image Source: https://marketbusinessnews.com/financial-glossary/entrepreneur/