30A – Final Reflection

1) Going through my old posts, it is quite difficult to pinpoint one specific formative experience. This entire semester has allowed me the opportunity to put my ideas to paper and truly see what I am capable of. Seeing my venture develop was definitely my most joyous experience and it will surely be something that will stick with me for a long time, even if it does not come to fruition.

2) Although I would not call myself an expert just yet, I do feel as if I have more knowledge on what it takes to become an entrepreneur. After reflecting on all my posts, I would say I have developed certain traits as the semester progressed. I am quite proud of myself, and I know I will take valuable insight and information from this class and use down the line in my search for a career path.

3) This class is not difficult. The one thing I would advise to future prospective students: be organized. Make your schedule beforehand and plan accordingly. This class will only help you develop an understanding for a mindset that will help you go a long way. If you are organized, focused, and determined, you will certainly succeed in this course.

(Aerial view of our beach clean-up)

Bayfront Park, Miami, Florida

2057 lbs collected

29A – Venture Concept No. 2

Opportunity

My opportunity presents a fear-based need for the ultimate greater good on several levels, ranging from personal to global. This idea will allow for people to live more sustainable lives; contributing to the betterment of our environment through very minor lifestyle adaptations. This will apply to anyone who is interested in being apart of the widespread solution to combat environmental pollution, and all of the issues associated with the matter. Ideally, there should be no limits to this market, as everyone should be concerned about the state of our environment in both the short, and long-term futures. However, this is most likely to appeal to those living in coastal areas, or areas with large bodies of water in proximity. As it stands, most people are not living sustainable lives due to the minor inconveniences associated with the lifestyle. Using plastic bags or single-used plastics such as straws or utensils require no effort. With simple educational practices, more people can be informed on the dangers associated with this lifestyle. This, in turn, would hopefully lead to awareness on the topic, subsequently followed by changes such as using re-usable bags and purchasing sustainable products such as water bottles and metal straws. The window of opportunity for my idea is not necessarily small, but the quicker people transition, the better. The products I am proposing are not perishable, and can be used for several years. However, our environment simply cannot sustain much more pollution caused by human ignorance.

Innovation

I have focused on some of the most important items regarding environmental pollution; cups, straws, bags, and water bottles. In order to create a base, I will be hosting weekly beach-cleanups for initial exposure to my idea/brand. Through these events, I will be educating people on the dangers of plastic pollution, and the simplicity behind living a sustainable lifestyle. Most people are just simply unaware of these things, and will surely not be opposed to the idea of doing their part to assist with our efforts to restore our environment. The products on display will be metal cups ($6/per cup, $30/per pack of 6), metal straws ($5), reusable hemp bags ($10), and stainless steel water bottles ($25). Along with this, I will be sending 20% of the profits to a separate "beach-clean up fund" that will assist with all the materials needed to host the weekly beach clean-ups.

Venture Concept

This idea heavily relies on the notion that people are willing to switch their lifestyle habits for the betterment of themselves, others, and our planet as a whole. As I previously stated, the main issue associated with this venture is convenience. It will take time for people to avoid using plastic bags at supermarkets or using plastic straws at a fast-food restaurant. Therefore, the switch will require some time, but it is surely not impossible. 

Through the use of advertising and social media, I hope to reach a target audience who are both interesting and willing to make these changes. These people must understand the issue at hand, and furthermore, be willing to take action. Through different facts and statistics presented to this audience, hopefully they will consider the idea even further. 

Once people are exposed to the idea, their habits should become sustainable. As it stands, there are not many competitors in this field. However, cost could be an issue for people. Plastic bags and straws are virtually free, while sustainable products will typically cost slightly more, as they are more durable and reusable.

Packaging is an interesting point in this venture. In accordance with my sustainable solutions, I would like to ensure the packaging of my products is also sustainable and recyclable at the very minimum. In terms of business development, in the early days I would like to solely rely on exposure through environmental awareness events. Eventually I would open a website to display my products. The ultimate goal would be to open a brick-and-mortar location.

The Minor Elements

I would say my most important resource is my passion for being ethically responsible, and my knowledge on the topic of environmental pollution. Many businesses today are not interested in ethical business practices, and at times have little to no interest on the very own products they are selling.

The next step in this venture is establishing a customer base and simply gaining more exposure. I believe my idea is worthy of success, but without the ability to reach people, this idea will never come to fruition.

Down the line, I hope to continue with this project. I would like nothing more than to educate and spread awareness on this issue until there are proven results. Hopefully five years from now this will be a full blown company recognized for our sustainable practices and dedication to serving our environment.

Part 2:

There was not much negative feedback on my previous venture concept post. However, I was told to consider the use of ads/social media in order to market this venture.

Part 3:

Due to the lack of negative feedback, I was only able to add a few sentences in the venture concept section. I added how the use of ads and social media will help me reach my target market.

28A – Your Exit Strategy

1) I plan to stay with my business for as long as I possibly can. It is something I would love to see come to fruition and I can run with it until for a large portion of my life. Due to the values, passion, personal connections I have for this venture, I would ideally pass it down to someone who feels very similarly. I would not want to sell this business, even after retiring.

2) I have chosen this exit strategy because I would like to ensure this business stays morally true to what it believes in. I would not want this falling into the hands of someone who is solely interested in maximizing profits at any cost. I have a genuine care for our planet, and hopefully this venture will reflect that.

3) I'm not exactly sure how my exit strategy has influenced how I go about this idea. However, I know it is my responsibility to ensure we are what we say we are. I identified this opportunity knowing I would be running a company built on sustainability and eco-friendliness. This means that when the day comes for me to retire or ultimately give up the business, I must have proof that I abided by these promises and did things both morally and ethically correct.

26A – Celebrating Failure

1) I have been struggling in my accounting course and even failed the first exam. I thought I studied the material well, however, the results did not reflect that. Most of the assignments are not on the canvas calendar, so it is quite easy to forget about them. I had a rough start to that class, but I believe I have rebounded well.

2) I learned to be more organized and focused. As an online student it can be quite easy to become distracted, procrastinate, and miss deadlines. Even in this class, I have missed my fair share of blog posts due to poor planning. I, like most of you guys, dislike missing assignments and receiving a zero. After this happening repeatedly, I have taken more precautions to ensure I have everything done in a timely manner.

3) Failure is a bit of a conundrum. Sometimes you need to fail in order to succeed. However, it is one of the worst feelings one can feel. Failure can surely kick me in the stomach, but it won't knock me out. I've learned to accept failure, and use it to build on whatever it is I did incorrectly. This class has taught me exactly that. If you take a risk, the possibility of failure is there. However, if you can get past that bump and you use it as a learning mechanism, you can only grow from those experiences and build on whatever you did wrong.

25A – What’s Next?

Existing Market

Step 1: In the near future I will continue to seek new ways to become sustainable and eco-friendly. Hopefully I will be able to further develop my existing products, and have a whole new list of products ready to introduce to my market.

Step 2: Interviews conducted with Hannah Waxman, Ishmael Rodriguez, and Marc Veinstein. All three of them are college students at the University of Miami. They happen to have their own sustainable brand, which focuses solely on swimwear. They have been established for three years now. They stated that they have a seen a huge spike in sales this year due to many people becoming aware of the eco-friendly and sustainable trend.

Step 3: Based on my own expectations and feedback received from others, I believe I am a solid path as it stands. I will continue to gain exposure through environmental awareness events, while demonstrating my products to my market. I will stick true to sustainable practices and will not attempt to find any loopholes. My only concern is the amount of time it will take people to realize the switch must be imminent. We do not have time to waste, and I will do everything I can in order to get the word out. This will include blogs, social media posts, and news media involvement if possible.

New Market

Step 1: I have considered the possibility of selling to restaurants, hotels, bars, clubs, etc. If any of these businesses are interested in becoming eco-friendly and sustainable, it would certainly open up a completely different channel for me.


Step 2: Businesses in hospitality will surely gain positive press and reviews from making this switch. In this day and age, companies are rewarded for going above and beyond to ensure they are fulfilling their ethical responsibilities. This could lead to more visitors and higher ratings overall. Along from that, these businesses will know they are more of an impact than a single person. Some of these businesses will use hundreds of pounds of un-recyclable plastics in a day. The footprint following the switch would be reduced drastically.

Step 3: Mike Batt & Jason Slim own several hotels in South Florida. At times, they oversee the inventory departments of their respective hotels. Luckily, I was able to meet with both of them at the same time. We compared several aspects of their inventory departments and the amount of waste they produce on an average day, They were both highly interested in the idea of going partially, and eventually fully eco-friendly.

Step 4: This market would surely see me go through a lot more product than I could probably handle at this moment. However, I would love to eventually have the resources to establish myself in this market. This would also allow me to demonstrate my ideas on a larger platform. With hundreds of people going in and out of restaurants, hotels, bars, clubs, etc..., I would be able to reach a huge range of new people. This would also result in a much larger impact than selling to individuals. As a result, I believe this market is more attractive, but something I would like to research a little bit more before completely diving in.

24A – Venture Concept No. 1

Opportunity

My opportunity presents a fear-based need for the ultimate greater good on several levels, ranging from personal to global. This idea will allow for people to live more sustainable lives; contributing to the betterment of our environment through very minor lifestyle adaptations. This will apply to anyone who is interested in being apart of the widespread solution to combat environmental pollution, and all of the issues associated with the matter. Ideally, there should be no limits to this market, as everyone should be concerned about the state of our environment in both the short, and long-term futures. However, this is most likely to appeal to those living in coastal areas, or areas with large bodies of water in proximity. As it stands, most people are not living sustainable lives due to the minor inconveniences associated with the lifestyle. Using plastic bags or single-used plastics such as straws or utensils require no effort. With simple educational practices, more people can be informed on the dangers associated with this lifestyle. This, in turn, would hopefully lead to awareness on the topic, subsequently followed by changes such as using re-usable bags and purchasing sustainable products such as water bottles and metal straws. The window of opportunity for my idea is not necessarily small, but the quicker people transition, the better. The products I am proposing are not perishable, and can be used for several years. However, our environment simply cannot sustain much more pollution caused by human ignorance.

Innovation

I have focused on some of the most important items regarding environmental pollution; cups, straws, bags, and water bottles. In order to create a base, I will be hosting weekly beach-cleanups for initial exposure to my idea/brand. Through these events, I will be educating people on the dangers of plastic pollution, and the simplicity behind living a sustainable lifestyle. Most people are just simply unaware of these things, and will surely not be opposed to the idea of doing their part to assist with our efforts to restore our environment. The products on display will be metal cups ($6/per cup, $30/per pack of 6), metal straws ($5), reusable hemp bags ($10), and stainless steel water bottles ($25). Along with this, I will be sending 20% of the profits to a separate "beach-clean up fund" that will assist with all the materials needed to host the weekly beach clean-ups.

Venture Concept

This idea heavily relies on the notion that people are willing to switch their lifestyle habits for the betterment of themselves, others, and our planet as a whole. As I previously stated, the main issue associated with this venture is convenience. It will take time for people to avoid using plastic bags at supermarkets or using plastic straws at a fast-food restaurant. Therefore, the switch will require some time, but it is surely not impossible.

Once people are exposed to the idea, their habits should become sustainable. As it stands, there are not many competitors in this field. However, cost could be an issue for people. Plastic bags and straws are virtually free, while sustainable products will typically cost slightly more, as they are more durable and reusable.

Packaging is an interesting point in this venture. In accordance with my sustainable solutions, I would like to ensure the packaging of my products is also sustainable and recyclable at the very minimum. In terms of business development, in the early days I would like to solely rely on exposure through environmental awareness events. Eventually I would open a website to display my products. The ultimate goal would be to open a brick-and-mortar location.

The Minor Elements

I would say my most important resource is my passion for being ethically responsible, and my knowledge on the topic of environmental pollution. Many businesses today are not interested in ethical business practices, and at times have little to no interest on the very own products they are selling.

The next step in this venture is establishing a customer base and simply gaining more exposure. I believe my idea is worthy of success, but without the ability to reach people, this idea will never come to fruition.

Down the line, I hope to continue with this project. I would like nothing more than to educate and spread awareness on this issue until there are proven results. Hopefully five years from now this will be a full blown company recognized for our sustainable practices and dedication to serving our environment.

23A – Your Venture’s Unfair Advantage

List of resources:

1) Non-profit work in environmental services:

Since high school I have been dedicated to environmental services and educating myself on different ways to create change. This includes beach clean-ups, school demonstrations, and the promotion of sustainable living.

2) Location & Market:

Living in Miami, Florida is a huge advantage as we are a coastal city. Cities such as Miami will be the first to feel the effects of environmental shifts such as sea-rise or polluted waters. It is easy to gain the attention of those who live here and can witness first hand the effects of pollution.

3) Social Capital:

I have a team who is willing to assist me in my ventures. I have also met with several high ranking officials of the city of Miami, including the superintendent of Miami-Dade Public Schools, and the mayor of the city of Miami.

4) Intangibles:

I believe my attitude and drive is something that certainly cannot be replicated. I am very determined and passionate about this idea, and I strongly believe with the right amount of time and effort this could be something that could come to fruition and benefit many people on a global scale.

5) Education:

Studying at UF has allowed me to not only build connections and gain several interpersonal skills, but it has opened my mind to a new way of thinking. It has allowed me to become more innovative and open-minded, which ultimately led me to pursue this idea.

6) Uniqueness:

In the grand scheme, not many people are fully aware of the issues associated with a lack of sustainable practices in every day life. Therefore, there are very few companies who have become fully dedicated to becoming completely eco-friendly.

7) Business/Entreprenurial Mindset:

Coming from a family who all have backgrounds in business, I have always had a passion for business and entrepreneurship. I have dreamed about my own venture, and I believe this it makes it even more special that I have finally taken my first steps.

8) Diversity

Coming from a Latino background, I am able to reach a wider market. I am fluent in both English and Spanish, which are arguably equally as important in the city of Miami.

9) Confidence

Without confidence, I do not believe any idea will come to fruition. I am extremely confident in myself and my idea, as it is one that will benefit the world and educate people on an extremely urgent matter.

10) Passion for environmental education:

Personally, I believe this is my biggest advantage. There are several companies who claim they are interested in practicing sustainability, however, I am genuinely concerned about the issues regarding this matter and I will hold true to that throughout my entire venture.