Assignment 30A - Final Reflection

I believe the most formative experience of the semester was the Bug List exercise. Of all the assignments completed, this was one that really challenged me to think differently about the things I do, see, and experience every day. While I would not call it a “joyous” experience, reading How to Fail at Almost Anything and Still Win Big by Scott Adams was the thing I most enjoyed. I started a challenging new job in the middle of this semester, and the book reminded me about many things including “being selfish” (taking care of yourself first so you can take care of others and ultimately do everything more effectively). I tend to sacrifice all of my personal interests, and run myself into the ground trying to succeed at work. I am most proud of sticking to this course till the end. I developed reoccurring migraine headache episodes this semester which made keeping up with work and school very difficult. I didn’t get the A grade that is typical of my academic performance, but it looks like I will finish with a respectable B- and get the needed course credit.

I don’t know that the course necessarily helped me develop an entrepreneurial mindset. Well, let me say I never had a passion to want to be a true entrepreneur, and I still do not. I think I need too much structure and stability in my life. But the skills we used during the semester, while not necessarily new to me, helped sharpen my existing skills and remind me of what I need to think about as an intrapreneur for the company that employs me.

The best piece of advice I would offer to future students is to read all of the assignments in advance of selecting an idea, problem, or product for the semester. Some of the assignments required interviews with people from the industry your idea or product was related to and, based on the idea I chose, I unfortunately did not have any contacts or have enough time during the course of the assignment week to try and research who I could possibly talk to and complete the interview (given I work full time).

Assignment 28A - Your Exit Strategy

My exit strategy is to get in and out, fast! I don’t even anticipate waiting the 5 years.

The goal would be to make no long term investments in development, manufacturing, or sales of this particular product, as it is so closely tied to today’s existing smart device technology. Even with a patent, technology changes so quickly. I do not want to still be in this business when smart devices no longer require hand-eye coordination. Or, when vehicle integration technology becomes so sophisticated that direct smart device interface is no longer required. Or, when autonomous driving really takes off! The plan would be to sell off the patent, and cash out with no strings attached.

I know we have been talking about always starting our business by having the end in mind. Or, we have at least later in the course. Honestly, when I was picking an opportunity to pursue, I was just trying to come up with one. Period. That is usually half my struggle, picking an idea, because I tend to be a perfectionist (although I am making great strides with this in recent years!) The opportunity I selected ended up being one that satisfied the initial course assignment criteria, and one that I believed I could most develop a concept from. There was no end game in mind. Similarly, because we have been walking through the process step by step, growth intentions or resources were not influenced by the exit strategy.

Assignment 27A - Reading Reflection No. 3

For the third and final reading reflection, I read How to Fail at Almost Everything and Still Win Big, by Scott Adams. The theme in general was a reflection on his life experience, challenges he has faced, and valuable lessons he has learned along the way. He was very open with the fact that, while not particularly gifted in any one thing, a compilation of a lifetime of skillsets led to great success. This includes a self-admitted realization, from the creator of Dilbert, that he is not even the best animator! He talks extensively about not being afraid to try different things, and that failure is a tool not an outcome, because the experience learned in failure is often the most beneficial (while also being strangely enjoyable).

There were a couple of main themes that stood out to me in this book that echoed loudly what we are learning in ENT3003 lectures and weekly assignments. The first is that seeking advice from others is critical to help steer clear of mistakes and leverage the life experiences of others. But, people only know what they know, and that knowledge is not everything. If you have conviction, have done your research, and believe you have a viable idea, it’s your opportunity to lose not theirs! The author also very much agrees that when it comes to your ideas, your friends and family will lie to you!

A very powerful theme was also apparent to me throughout this book. It is that the market rewards execution of work, not the sharing of ideas. That (excuse the quoted profanity) “passion is bullshit” because it is not passion that drives us to success, but rather that passion is a product of it. He goes on to say that these goals, ideas, or passion are not some generalized concepts that either steer, guide us, or we reach once and complete our journey, but rather we set up a systematic way on a regular basis over time to achieve reasonable and measurable expectations we set for ourselves. Plainly stated, it is the point we stop imagining or saying what we want, and start putting words into action and doing it! And we have created the plan to actually execute to achieve it.

Chapter 21, The Math of Success, covered strategic, calculated ways to increase your chances at success. There is a section on pages 122-128 that give practical tips to sharpen conversation skills in social situations, including how to formulate a story. The basic parts of a story are listed as follows: Setup, Pattern, Foreshadowing, The Characters, Relatabilty, The Twist, and lastly Topics to Avoid. Based on the story structure and tips provided in the book, my exercise for the class would be to write a story to tell as part of a one-on-one or group conversation in a social setting of people you don’t know. The exercise would be conversation starter practice for learning to engage new people into further conversations for relationship building.

While I would not call it an ‘aha’ moment, the author’s fascination with affirmations was definitely my biggest surprise. It took me awhile to appreciate why he included it in this book and, ultimately for whatever personal meaning affirmations held or still holds for him, it was and is part of his success journey. With that being said, and despite his best and explicitly stated attempts at trying to explain it in order to keep his harshest critics at bay, I feel like he only made the arguably controversial topic for this book worse. For entrepreneurial practicality purposes, promoting self-belief and confidence in an ability to accomplish something is one thing. While maybe less honest, I wish he had stuck with that for the purposes of the book instead of acknowledging his obvious belief in some sort of mystical cosmic wish granting machine that he cannot explain.

Assignment 26A - Celebrating Failure

I was recently promoted at work, about two months ago. I am at the corporate offices now, and lead a team that supports all of our offices world-wide. It is a very dynamic time for our company, with significant growth, change, and opportunity. Sometimes, I still can’t believe I was able to land this gig. As I start to type up this assignment, I am sitting in business class of a Boeing Dreamliner on my way to Shanghai for my first international business trip with the company. But, these last couple months have not been without significant challenge. It is a completely new business that I am trying to learn, a new team, new technology, new…everything. I am quite literally trying to figure out what my organization does, how we do it, what we need, what we expect, what others expect of us, and most importantly (from my perspective) what they expect from me (and how to do it)!

One of many such expectations recently came from my VP. She wanted me to create a proposal for the new enterprise-wide departmental quarterly report, and she wanted it in two weeks. Wait a minute. You want the new guy who has no idea what we do here to create a company-wide, executive-level proposal showcasing what our department does?! I received some high level direction on what she wanted to see in the report, and was sent off to conquer the task! I did a lot of investigating and asking questions. What did we do? What was the impact? Who did that? Who is that? How did they do that? Why did we do that? The questions were endless. I didn’t know what I didn’t know. And, just when I thought I understood, it would become clear that I did not and I was back to the drawing board. And, let’s just say I did not get a lot of willing hands that raised up to help me (in reflection because I think most were just as intimidated by my task, and had just as many questions as I did). And, just when I thought I had it solved after about three weeks (1 week past the deadline) and after countless hours invested by myself and several of my team members, I took the proposal to my boss for review before it went to the VP. I was sent away defeated. Clearly my boss was expecting something more, or something different, and I felt like a complete failure.

There have been multiple times since I took this job that I thought I had made a mistake in accepting the role, that I am in over my head, and I need a quick exit plan. Just this past week, however, I am starting to believe maybe that pessimism was premature. The context for my research and proposal was based on the VP’s request, and the work I did was compelling enough that it made my boss challenge her own understanding of what our VP wanted. That need for clarity gained us a project extension until December. And, just yesterday as I sat next to my boss while she put the final touches on a presentation of her own for our VP, she said to me “I don’t know why I am trying so hard to make this perfect. It doesn’t matter anyway, because she [the VP] is going to rip it apart anyway!” Hearing that from my boss made me feel so wonderful that I was not alone!

I have always been willing to take risks, calculated risks that is, and this class really hasn’t changed my perspective on that. But how I think about failure I’ve experienced as a result of taking risk has been recently changed, or at least I’ve been reminded of what I had forgotten, especially after reading our third book requirement for the course. How to Fail at Almost Everything and Still Win Big by Scott Adams reminded me that I need to manage illusions wisely, in order to effectively influence my self-perceptions. I have to remember I have a high level of responsibility (this is ranked my #2 Strengthfinder), and sometimes that high sense of responsibility can result in my assuming unrealistic self-expectations to my physical, mental, and emotional detriment. I needed to view the work example given in this post not as failure, but rather as feedback for how to move forward. The book also reminded me that I need to grant myself permission be selfish and take care of me first so I can be generous to others (work, family, friends, and community) in the long run. There is no benefit to anyone if my view of failure (and my fear of repeatedly doing so) drives me to work myself into the ground to the detriment of my work quality, stop exercising to the detriment of my health, and put work first to the detriment of my personal relationships.

Assignment 22A - Elevator Pitch No. 3

I received comments from two peers for my second elevator pitch. Both were mostly positive on the overall delivery, and again reinforced the viability of the product.

The main critique from the first comment was that the product would likely get resistance from customers, which was already known. Because this feedback was received earlier in the process, additional focus on education and culture shift had already been added to my efforts. Although, it is good to get constant reminders on this so I do not lose sight of it.

The second comment was the most constructive critique received and had the potential to provide me the most benefit to make changes to my pitch. However, at the same, time I found it to be most unhelpful. It was suggested I project more credibility, to convince the audience they should listen to me and invest in my product. While I get that, I wasn’t sure what about my existing pitch the commenter found not to be credible or could be more credible. I was well prepared and delivered the content well, had researched the subject and provided statistics, and incorporated feedback from pitch #1 to differentiate my product from existing ones on the market. I wish the feedback was more specific, with examples, so I could have understood better what they saw to be missing and I could have taken action as appropriate.

Because the feedback was not specific on how my credibility could be increased, I decided to try and incorporate the suggestion as best I could by more explicitly stating my product’s differentiator: that the technology was imposed on the smart device owner versus current products that rely on the device owner to voluntarily use the product. This, I hope, will be a clear line between why someone should invest in me instead of someone else.

https://youtu.be/OR639GFwl3c

Assignment 21A - Reading Reflection No. 2

For this assignment, I read The Art of Social Media: Power Tips for Power Users by Guy Kawasaki. The book really only had one theme or argument, and that was about social media optimization. It read like a technical manual on “how-to” leverage different social media platforms, a book broken into 123 different quick tips, grouped into categories by chapter.

My biggest surprise in the book was frankly that it was not at all what I was expecting. It was a list of “Do’s” and “Do not’s”, when leveraging social media for personal and business purposes. I ordered the hardcover book from Amazon and, to my surprise, it was riddled with what were clearly “hyperlinks” to click and see examples for further explanation or elaboration on an idea from a linked webpage. The book was clearly intended to be read as an e-copy, with access to the internet for linking to other websites, so I am completely confused as to why they could publish this book in regular print. All that being said, I was expecting suggestions for practical application of social media and how to use it to further a business, with “real life” scenarios as examples. To think about which social media to use and how, based on your business goals, and how other businesses have similarly used it to maximize results. This book had none of that, to my extreme disappointment. It did, however, accomplish the goal of suggesting how to maximize views and interactions with your social media profiles. However, simple use and interaction does not necessarily translate to business results or achieving your desired outcomes.

I believe the main connection this book had to ENT3003 thus far is twofold. The first is continuous exposure to social media resources that I am either not familiar with, or how I can leverage them further as a more advanced user. A great example is that this class was the first time I have ever created a blog. Second, it provided the technical framework for how to set up social profiles to ultimately connect with others for furthering business ideas, finding investors, and creating networks for mutual benefit.

If I had to create an exercise for this class based on the reading, it would be one that had practical application, especially given the blogs we are creating this semester. On pages 82-85, the “tips” were Add Share Buttons and Entice People to Follow You, and the exercise would be to have the class add these to their blog page. It shows you how to add share buttons to other social media sites. This can be used either to have people easily share your blog content through their social media profiles, or allow for viewers to easily follow you on your other social media sites.

Assignment 20A - Growing Your Social Capital

Hello group!
Unfortunately, given the type of product I aim to market (smart phone development/manufacture), I struggled with how I could appropriately (and legitimately!) identify the appropriate individuals and complete all 3 interviews for this assignment. While a bit frustrating (I wish I would have looked ahead at assignment requirements before choosing a product!), I ultimately did not feel comfortable trying to "fudge it".
Catch you next week!
Cameron

Assignment 19A - Idea Napkin No. 2

To kick off the Idea Napkin No. 2, I must state that much of the first part of my assignment will be very similar to, and contain identical components of, my initial submission in Idea Napkin No. 1. The intent is not to self-plagiarize, or get out of writing the assignment, by any means. Rather, the feedback I received did not give critical feedback on how or what I should change regarding my original Idea Napkin components. Rather, both students reinforced my product idea, and my idea Napkin statements. The main suggestion was to continue to reinforce education, so my edits and enhancements will focus on this, with an overall self-critical lens based on what I have learned about my idea goals.

You.:

My strengths include having a high level of responsibility, a drive to achieve, and being deliberative in my decisions and actions. I can make sense out of chaos, and can simplify complex situations. Analytical thinking comes naturally, and I can flex between the tactical and the strategic. I have extensive experience in leadership, and aspire to roles with increasing responsibility and challenges. Part of my leadership skill comes from being a maximizer, recognizing the inherent skills people have, and deliberately developing those skills and exploiting those strengths within a team to accomplish shared goals. This business I see as life changing (and life-saving), as it plays a key role in shifting the current culture regarding how we think about driving and the responsibility that privilege demands.

What are you offering to customers?:

The product I am offering is literally a life-saving product. Customers will be able to utilize a tool that prevents them, and prevents their fellow drivers, from being able to utilize their distracting smart devices while behind the wheel of a vehicle while it is in operation. It places constraints on those drivers that cannot self-regulate their own actions, and provides a safer environment for all drivers on the road. Part of the offering will need to come in the form of education, to allow people to draw conclusions regarding the issue and habits we have that contribute to the problem, and how this solution is the obvious path toward resolution. Additionally, it will require constant reinforcement and marketing to shift culture, and create a recognized need.

Who are you offering it to?

While this product will benefit all people that come within proximity of any road, not all people will be customers. The demographics of those that will use this product are none of the traditional ones we typically think of. (Although, the only possible ones could be age, that you must be the legal driving age within the state you reside, as well as religious beliefs that prevent driving or the embracing of technology.) However, largely, this customer is demographic “neutral”. All customers have only these two things in common; they drive motorized vehicles, and they own a smart device. Unfortunately, not all of the customers know they are customers in dire need of this product, because they have not yet self-recognized they are part of the problem.

Why do they care?:

The customer will care because they will be concerned with their safety, the safety of their friends and family, as well as the safety of the strangers they share the road with. They will also care if regulation requires that they comply to avoid adverse legal consequences. Insurance companies may also offer incentives for using the product, as it will be an element to a driver’s overall risk assessment. Lastly, they will care only once they are made aware that they need to care.

What are your core competencies?:

My main edge is that currently nobody utilizes this type of technology for this specific purpose. Therefore, a patent on the idea is priority. Also, initial customers could include insurance companies, as well as smart device producers, for contracts and deals that help protect (at least for a time) the proprietary technology.

I believe that these elements do fit well together, and it is a viable solution to a problem that current deterrents have not been able to affect. While I do not feel like it is out of joint, my competency is potentially the weakest part of the business concept. As with any technology like this, this is not one that cannot be replicated. This is why immediate, upfront efforts to protect the product from immediate competitive entrants into the market will be critical for success while differentiating aspects of the product are developed.

The first main point I took away from the feedback was that, yet again, I received strong reinforcement that this is a significant problem in our society that has either not been appropriately addressed, or “solutions” to date have not resolved. It is confirmation that the product will have a viable market. The second main point I took away, that was stated at the beginning of this post, was the recommendation for constant education. The comparator was seat belts, and that it took educating the public along with laws and regulation to not only enforce the use of a seat belt and change culture/behavior, but rally support for the safety mechanism. To shift thinking to the point where seat belts are not an option when it comes to driving. Similarly, this product aimed to eliminate smart phone use while driving will require an appropriate level of education and marketing.

Assignment 18A - Create a Customer Avatar

My product will be sold to businesses who produce smart devices, as a component of the device, and it will in turn then be sold to individuals who buy the smart devices. But, because my product will be sold to an “individual” that meets very specific criteria, my avatar will be based on the individual, or ultimate consumer.

The individual has no face, and no distinguishable features that differentiate them from any other individual. You cannot tell their gender, their body type, sexual orientation, or their age (for the most part). There is no hobby, personal interest, political or religious identity, or general activity that makes them unique when compared to others. The avatar is a shadowy outline of an individual, with personal features, interests, and unique characteristics that you cannot quite make out. And that, in fact, really matters very little.

However, there is much we do know about this individual. They live in a developed country where the general population has the means and access to personal, motorized transportation. They are at least of legal driving age, but what they drive is really irrelevant. This individual is likely very social. They like to stay in close contact with family and friends, and keep up with the social lives of people they do and do not know. This desire is so strong, that they need to be in constant contact, sometimes up to the minute! And perhaps they also get easily distracted, or need constant entertainment or stimuli. They cannot let those moments of quiet go by with time to just think. Rather, they need a constant flooding of information. They have to know, and they have to know now! They are the definition of the acronym FOMO. The individual is also impulsive, has a hard time exercising self-control, and doesn’t always exercise sound decision making. They focus on the satisfaction of the moment rather than the long-term impacts of their decisions. It is not that they are incapable of doing so, it is because their impulses overwhelm or distract them from it.

I have in common with this individual two things. I also drive a motorized vehicle, and I own a smart device. However, the commonality stops there. All of the needs and impulses that I think this individual has, that drove me to pursue this product, I do not share with this individual. I do not think it is a coincidence, that I do not share these characteristics, because I am so passionate about the implications and adverse impacts of these behaviors. Because of this passion, I suppose it is not surprising that I have chosen this product.

Assignment 17A - Elevator Pitch No. 2

As I reflect on the feedback from my first elevator pitch, I was pleased that there was a positive response to my idea. This was likely what stood out the most to me as being important, that my product idea had promise in the eyes of potential consumers. I also appreciated the encouraging feedback on tone, flow, and overall presentation, including my opening hook. I didn’t think any of the feedback was wrong or silly, but rather after self-reflection that I may have not articulated clearly enough how my product was differentiated from other like products on the market. Therefore, in my second pitch, I intentionally compared my product to two others, Apple care mode and cell phone blocking technology. I explicitly stated that what made my product different was that, unlike the competition which required the user to voluntarily use the deterrent, mine would be an involuntary imposition of technology that prevented them from using their device entirely while driving. Additionally, I used the feedback to be more specific regarding to whom I would sell to, the smart device manufacturers.

https://youtu.be/UejSXkHo6xo

Assignments 15A and 16A

Hello group. I do not have any assignments available for your peer review this week. I'm on day 6 of a migraine, and it took me out of commission this week.
Catch you on next week's assignments!
Cameron

Assignment 13A - Reading Reflection No. 1

The entrepreneur, Ray Kroc:

A couple of things surprised me about Ray Kroc, including all of the famous and influential people he knew even prior to his eventual rise to prominence. The most surprising was his acquaintance with Walt Disney, whom he met after joining the Red Cross during WW1. I was also surprised that he did not consider himself a scholar, and was not a reader, given his success. He instead considered himself to be more of a thinker.

Being a thinker is one of the things I most admired about him, and specifically how he used this ability to debate people and ultimately influence them to his way of thinking. And, when he couldn’t convince them, he demonstrated relentless determination until he got his way and achieved his goal by simply wearing others down into submission. I also admired his business philosophy about deals being made with a handshake. He was taken advantage of multiple times by multiple people because of this naive trust he admittedly placed in people. But I think it is a quality, a sign of integrity and character, that is lacking in today’s world.

I think I least admired his lack of commitment to certain things, and would easily give up or lose interest in them. One example the book gives is during his time in Boy Scouts when he played the bugle. I suppose my issue was the lack of respect he gave to these things, once he made up his mind he was no longer interested, after he committed himself to it. When he would give up, it had an impact on those that did take it seriously and that were expecting him to follow through. Maybe it was better this way, though, that he instead devoted his attention toward things that he was passionate about.

Ray Kroc encountered multiple types of adversity. This included his challenges with the McDonald brothers, trying to overcome their lack of cooperation in complying with language in their initial contract. He also had internal company conflict (especially with Harry Sonneborn), and financial difficulties. He always seemed to overcome by “biting the bullet”, usually at significant financial cost, and moving on from it. I think the key thing is that he never lost sight of the long-term vision of what he knew McDonald’s would be, and was willing to take significant risk (usually financially) to keep moving toward that goal.

Ray Kroc was wired in such a way that a couple of key competencies were obvious and routinely surfaced. He had a natural curiosity about things and how they worked, and in turn could identify opportunities. He describes this in detail in his first couple visits to the McDonald brother’s location where he would observe the behavior of the customers, employees, and how the location operated. He used this to set a vision of where the opportunity could grow to in the future. Another competency he had was a core philosophy about the business. He always put the customer first, [kept] it simple stupid (KISS), and could differentiate from his competition. For the latter, being able to make the french fry the “main attraction” instead of just a side dish was what helped to define McDonald’s.

What slightly confused me in the book is how he talked about in his earlier years how much he liked and wanted nice things, to the point that he came across materialistic, but at the same time talked about how frugal he and his first wife were and saved most of their money. Maybe he had a long-term goal in mind, but he didn’t explicitly state this and his actions at that point in his life seemed contradictory to his beliefs. I was also baffled (more than confused, I guess) as to why he would allow anger to impulsively prompt him to quit his job, given it was during the Great Depression, and he had a wife and child at home. His selfish inability to control his emotions had the potential to adversely impact his family and he didn’t seem to care.

If I were able to ask Ray Kroc anything, I would likely first ask why he would not have involved an impartial party in his earlier business deals when he self-admits his excitement would make him naïve to his contractual commitments, and be blinded to the implications of those commitments. The initial deal with the McDonald brothers is a perfect example of this, and the portion of their contract that required any approvals for changes to be in writing from the brothers, which they would refuse to do. I would also ask him what made him so confident that his intuition was right about people he hired into positions that did not come with the related experience for those positions. June Martino was a great example of this. With so much risk associated with hires like this, what was it that made him believe it was not a risk at all?

Ray Kroc viewed work as actually being play. He got pleasure out of it, and he explicitly stated so. Although, he did not say how he formed his way of thinking on this, or why. After reading his book I can infer that it was a sense of accomplishment that made his work feel more like play. Maybe being able to persuade people to his way of thinking and lead work toward his vision, a sense of control he needed to have and took pleasure in seeing “his way” played out. Or maybe even seeing his vision come to fruition. He believed this so much, that the book says he went into the California office multiple times a week, even up to the day he died. In some ways I agree with him. I have experienced this philosophy of work as play when I am able to be in control of driving work toward a goal, believe in it, and achieving it with the help of the team and resources I am put in charge of. While at the same time I also find pleasure in things that are not work related, and do not take all of my feeling of enjoyment just from my work related accomplishments.

Assignment 14A - Halfway Reflection

Tenaciousness is a competency

To keep up with the requirements of this course requires a level of commitment grounded in a goal you have set out to achieve. Since this elective will contribute to my total credit hours required to graduate, there was no other option but to commit to the course and its requirements. Dedication was also necessary, to ensure deadlines were met, and to stay up to date with the lectures and assignments.



Tenaciousness is about attitude

I have just started a new job, which is great because I’ve been promoted at work. But I was moved to a completely new department in a completely new role. I am working long days, and am completely exhausted when I get home after the countless hours of trying to focus and learn. To then have to watch lectures or do assignments in the evening has been challenging, as my exhaustion has overtaken my motivation to want to do schoolwork. But then I remember this is only for a season, and I remember what I am trying to achieve with my education, and I press on. This is hard for me to say it is about a tenacious attitude because, when I think about that phrase, I think of relentless, untiring drive. In actuality, it is taking everything in me to just bear through it and make it to the end of the semester.



Three tips

1. Don’t wait! Stay ahead of assignments, especially since many rely on the information you get from interviews which can be time consuming.

2. Plan your week accordingly, especially if you are a non-traditional student, as weekly assignments are due on Fridays. I work Monday through Fridays, and it is difficult to get a lot of schoolwork done during the weekdays.

3. Don’t worry about identifying an opportunity immediately, or if your opportunity needs to change as you work through the assignments. I panicked a little bit in the first few weeks of class, thinking I needed some revolutionary product concept, when I struggle sometimes to come up with ideas. It’s ok! You get walked through the process week over week.

Assignment 12A - Figuring Out Buyer Behavior No.1

The Segment:

My problem is unique, as my customers will only have two things in common. They will drive motorized vehicles, and they will own a smart device. Owners of a smart device have chosen to own one, instead of say no device at all or maybe just a flip phone, because they use the smart device features (apps, email, texting, etc.) And these two commonalities (drivers and smart device ownership) span across ages (assuming they are of age to drive), gender, ethnicity, religions, education levels, etc. Therefore, my segment, my only segment, is anyone who drives and owns a smart device.


Summary:

Need awareness seems to be falling in one of two buckets. The first is a need based on someone’s own actions, or personal awareness. And, secondly, a need based on the observation of someone else’s actions. The first is when the need is realized when someone’s own personal interactions with a smart device while operating a vehicle adversely impacts the ability to effectively or safety do so. This is when the driver realizes they are swerving, they stop short because they did not see brake lights ahead, or worse they cause an incident. The same indicators were shared for the second bucket, but this is when a driver NOT utilizing a device but rather observes the adverse effects of someone else who IS utilizing a device.

I found that, people who realize the negative impacts of their interactions with a device while driving, the only solution they implement is to cease utilizing the device. No information search needed. (The unfortunate part is the only solution offered in this scenario is not implemented by all drivers once the need is made blatantly apparent.) Additionally, some proactively impose self-restrictions so they never find themselves with the need based on personal actions.

Another unfortunate situation is that there is really no information search to a solution for a driver who observes someone else engaged in the unsafe behavior. At best, they pull up alongside the other driver and try and give them verbal or nonverbal “correction”, which is rarely effective.

Of course, there is the search for current social pressures and traffic laws in effect. But, we as citizens aren’t necessarily in the position to impose these on others (nor do we always impose them on ourselves) as an effective, immediate solution to this problem when it occurs.


Conclusions:

This segment has a very high level of need awareness. However, information searches for solutions prove to be fairly ineffective as these seekers of knowledge are not in the position to impose any solution on anyone other than themselves. And, even if they self-impose a solution, they are still at the mercy of everyone else on the road that has decided not to do so.

Assignment 11A - Idea Napkin No.1

You.:

My strengths include having a high level of responsibility, a drive to achieve, and being deliberative in my decisions and actions. I can make sense out of chaos, and can simplify complex situations. Analytical thinking comes naturally, and I can flex between the tactical and the strategic. I have extensive experience in leadership, and aspire to roles with increasing responsibility and challenges. This business I see as life changing (and life-saving), as it plays a key role in shifting the current culture regarding how we think about driving and the responsibility that privilege demands.



What are you offering to customers?:

The product I am offering is literally a life-saving product. Customers will be able to utilize a tool that prevents them, and prevents their fellow drivers, from being able to utilize their distracting smart devices while behind the wheel of a vehicle while it is in operation. It places constraints on those drivers that cannot self-regulate their own actions, and provides a safer environment for all drivers on the road.



Who are you offering it to?

While this product will benefit all people that come within proximity of any road, not all people will be customers. The demographics of those that will use this product are none of the traditional ones we typically think of. (Although, the only possible ones could be age, that you must be the legal driving age within the state you reside, as well as religious beliefs that prevent driving or the embracing of technology.) However, largely, this customer is demographic “neutral”. All customers have only these two things in common; they drive motorized vehicles, and they own a smart device.



Why do they care?:

The customer will care because they will be concerned with their safety, the safety of their friends and family, as well as the safety of the strangers they share the road with. They will also care if regulation requires that they comply to avoid adverse legal consequences. The last reason I can think of is if insurance companies offer incentives for using the product, as it will be an element to a driver’s overall risk assessment.



What are your core competencies?:

My main edge is that currently nobody utilizes this type of technology for this specific purpose. Therefore, a patent on the idea is priority. Also, initial customers could include insurance companies, as well as smart device producers, for contracts and deals that help protect (at least for a time) the proprietary technology.



I believe that these elements do fit well together, and it is a viable solution to a problem that current deterrents have not been able to affect. While I do not feel like it is out of joint, my competency is potentially the weakest part of the business concept. As with any technology like this, this is not one that cannot be replicated. This is why immediate, upfront efforts to protect the product from immediate competitive entrants into the market will be critical for success while differentiating aspects of the product are developed.

Assignment 9A - Testing the Hypothesis Part 2

Who:

Trying to identify who would benefit from my opportunity, and ultimate solution, was a bit more difficult than originally anticipated. This is because everyone could benefit from safer roads if drivers were not distracted by their smart devices, regardless if they drive or not, and regardless if they do drive whether they use a smart device while doing so or not. It took me awhile to realize that not everyone would actually be an ultimate consumer of my solution or product. Someone who is a potential customer would need to be a driver AND be a smart device user (and my boundary definition has been adjusted as a result of this exercise).

Therefore, while I could not find someone who did not drive, nor could I find someone who did not own a smart device, I could interview people who could come into contact with drivers while they themselves were not driving (despite any benefit from safer driving conditions as a result of my product). Interviews therefore were from the context of a non-driving activity in the proximity of roads. This included potential pedestrians, walkers/joggers/runners, bicyclists, skateboarders, etc.



What:

Poor driving is not solely a result of smart device usage, and there are other distractors that contribute to accidents and fatalities. Radios, rowdy kids in the back seat, or daydreaming are all examples of this. Additionally, for my non-driving population stated in the “who” section, there could also be reasons they are struck by vehicles or involved in accidents. Wearing non-reflective, dark clothing at night, j-walking, and not following the rules of the road while sharing the road with vehicles could also result in incidents.



Why:

The underlying cause of these interviewees needs is not necessarily different in terms of them both being related to poor choices, distractions, or law violations. The contributing reasons to the incidents for this population is the only thing that is different, with smart device using drivers only being one of these reasons.



                     Inside the boundary                                              Outside the boundary

Who:            Drivers who own smart devices                           Everyone else

What:           Smart device use while driving is causing           All other accidents or

                     accidents and fatalities                                         fatalities not caused by smart

                                                                                                  device use.

Why:            Increased smart device users                               Inability to control the

                     Increased complexity of apps                              actions of others

                     Failure of drivers to self-regulate

                     Lack of needed regulation

                     Lack of knowledge of existing regulation                                                                                                     

                                               

Assignment 10A - Elevator Pitch No.1

https://youtu.be/W_EnKuKKmo8

Assignment 8A - Solving the Problem

The Opportunity:

The opportunity I have identified is the problem of increasing number of vehicle related accidents, injuries, and fatalities due to drivers being distracted by their smart phone devices. Current laws do not seem to be solving the issue. While this may be in part due to lack of driver awareness of such laws aimed at preventing device use while driving, it is clear that those familiar with such laws still fail to adhere to them due to their own inability to self-regulate their behavior. And, those law-abiding drivers who do not use their devices while driving, or those simply responsible enough not to do so, are still at the mercy of the other drivers on the road who refuse to put their smart device down. And, this can be at their own peril, literally.



Proposed Product/Solution:

My proposed solution is to implement technological barriers that forcibly prevent drivers from using their smart device when driving. The technology will physically prevent a driver from interacting with their device, or apps on their device, even if they want to while their vehicle is in operation.

Technologies to be a combination of the following:

· Smart device manufacturers develop hardware that can identify when vehicles are in operation, perhaps with motion detecting mechanics.

· Operating system and/or application/software developers can incorporate into programs “app killers”.

· Car manufacturers to develop device interface technology that work with smart device software to disable user apps while vehicle is in operation. If the car is on, the smart device is “off”.

This technology will require both incentivized and mandated support:

· Incentivized to include things like parental controls on the apps, and insurance company premium incentives for use.

· Mandated application will require lobbying, additional legislation, and law enforcement.

Assignment 7A - Testing the Hypothesis, Part 1

Opportunity: Prevent the use of smart phone devices while driving.

· The who: All drivers of moving vehicles.

· The what: This distraction is causing unsafe conditions on the roadways resulting in property damage, accidents, injury, and death.

· The why: Increased usage of smart phone devices is growing exponentially. This, coupled with driver unwillingness or inability to self-regulate their device usage while driving, shows a correlation of increasing numbers of traffic related accidents and fatalities.



Testing the who: Are there others that have this need?

· Pedestrians.

· Non-motorized vehicle operators (i.e. bicycles, skateboards).

· Drivers of other vehicles.

· Insurance companies.

· Law enforcement.

· Non-driving vehicle passengers (including personal vehicles and public transport).

Testing the what: What are the boundaries of the need?

· Drivers of vehicles who are not using a smart device (i.e. victims)

Testing the why:

· Ineffective existing regulations/laws are not adequately addressing the issue.

· Poor communication of current laws, so citizens do not comply out of ignorance.

· Increasing app complexity requires more dedicated attention and interface from user.

· Inability for people to understand or accept the potential consequences of personal actions.



Interview summary:

All interviewees overwhelmingly agree that there is an issue that current efforts, or lack of existing deterrents, are not solving. They all site concerns with their own safety due to negligence of other drivers, and some admit they lack the self-restraint to prevent the creation of potential safety concerns to themselves and others through their own device use while driving. Multiple personal stories of witnessing near misses or actual incidents, being involved in actual incidents, and having friend and family fatalities due to this issue were given.



Key learnings:

While the interviews revealed a unanimous agreement that further effort is needed to curb smart device use while behind the wheel, there was substantial resistance to having device interaction limitations forced on them (through technological or other barriers). This includes those that admit they cannot self-regulate their device usage while driving. Any self-regulated solutions will need to come with substantial incentives for people to opt in and use. Any mandated or imposed solutions may require legislation for mandatory compliance.

Assignment 6A - Identifying Opportunities in Economic & Regulatory Trends

Economic trend: Available number of jobs in US is exceeding the number of job seekers.

a) This opportunity was found in the Wall Street Journal in an article titled “U.S. News: Employers Feel Pinch Of Robust Job Market”: https://search-proquest-com.lp.hscl.ufl.edu/docview/2102241353/E1D3627E478D4F7BPQ/11?accountid=10920

b) The fact that those underemployed or those seeking employment is lower than available jobs leads me to believe there is an opportunity. Defining the multiple reasons for various labor shortages, then identifying unique solutions for each, could be a lucrative opportunity for companies who are desperate to fill their job openings. It is also an opportunity for those currently employed to obtain new opportunities at higher compensation.

c) HR teams that are looking to hire, looking for ways to expedite their screening and hiring processes, would likely be a customer. Perhaps companies in need of consultants or technology/automation solutions to replace workers to offset their understaffed labor situation would be customers. Also, those looking to offer technical training for those jobs that are tough to fill due to untrained labor. Obviously, job seekers who are qualified for an in demand job.

d) This opportunity is likely difficult to exploit because, if it were an easy one-solve for all potential hiring companies, it would already be solved. However, niche opportunities are likely countless and can be solved with focused effort. Difficultly at accessing jobs by the job seeker is dependent on their skillset.

e) Part of the article talked about the fact that the labor shortages will likely drive up wages, perhaps higher than some companies can afford to pay. That reminded me of the “Fight for $15”, and how McDonald’s responded by replacing workers /cashiers with order taking technology. I am also a labor and training integration manager at my current job, and I am well aware of the growing risk at being able to fill our vacancies given the unemployment rate and the growing economy. We are starting to strategize at work how we can either become more efficient with our labor force if we will be unable to grow it, as well as how we incentivize available workers to choose our company for employment over other companies.



Economic trend: Japanese company profits are soaring, but shares are not due to disinterest from foreign investors.

a) This opportunity was found in the Wall Street Journal in an article titled “Profits Soar in Japan, but Shares Don’t”: https://search-proquest-com.lp.hscl.ufl.edu/docview/2101212278/DA5CE194840A4331PQ/34?accountid=10920

b) If Japanese companies are showing increased profit and profit margins, a delayed response in the markets may be an opportunity to invest now for possible delayed gains once the markets start to reflect company performance.

c) The most likely customer would be individual investors or money management firms.

d) This opportunity is pretty easy to exploit, but the risk may be a little higher than other opportunities because the potential gains come from actualization of anticipated response from the Japanese stock markets.

e) I don’t think this opportunity is difficult for the average person to see, if they are engaged in some sort of investment or saving strategy. I think it is harder for some people to “see” because of their assessment of risk/opportunity, or because their money is managed by firms.



Regulatory changes: California governor signs into law that 100% of the state’s electricity will need to be generated by renewable sources by 2045.

a) This opportunity was found in the Wall Street Journal in an article titled “California’s Carbon Exorcism”: https://search-proquest-com.lp.hscl.ufl.edu/docview/2102241317/E1D3627E478D4F7BPQ/34?accountid=10920

b) This article is screaming opportunity! If ALL electric energy use will need to be from renewables, residents will be required to own equipment to produce their own renewable energy, or purchase it for use.

c) The customers for the opportunity will literally be every resident, business owner, and government facility in the state.

d) This opportunity is difficult to exploit because renewables are very costly to run, electricity storage technology is poor, and the economy is currently built on energy reliance which requires more traditional energy sources to convert to electricity.

e) I am from California, so I am not surprised to see something like this. However, this is one that I do not believe would be difficult for a lot of people to identify as an opportunity. The new law will require this to be in place in less than 30 years, and the infrastructure and technology are simply not in existence yet. Someone needs to make it happen!





Regulatory changes: EPA rules weaken on methane for oil and gas companies.

a) This opportunity was found in the Wall Street Journal in an article titled “U.S. News: EPA Plan Weakens Rules on Methane”: https://search-proquest-com.lp.hscl.ufl.edu/docview/2102241417/E1D3627E478D4F7BPQ/12?accountid=10920

b) This information suggests there is an opportunity because reduced regulation could lead to reduced costs to companies in the industry, leading to cash flows redirected to growth, R&D, or other investments, savings passed to consumers, the addition of other entrants into the industry, or other energy providers that look to capitalize on social responsibility platforms.

c) The likely customers are current oil and gas companies, new industry entrants, lobbyists, gas and oil consumers (B2C and B2B) and how cheap energy can lead to growth and increased production, other energy option providers.

d) For existing companies and customers, it is likely fairly easy to exploit because reduced regulation allows for reduced costs immediately. It may be more difficult for new entrants or alternative energy companies to startup businesses, or reposition their marketing strategies to capitalize on the change. Existing companies could also choose to compete and capitalize on a socially responsible platform by keeping the more stringent rules in place for their company, or even making them more stringent, while other oil and gas companies ease their rules with the EPA update.

e) I think I see this opportunity because so many are focused on being angry about what they believe will be adverse environmental impacts from the easing of this Obama era EPA rule. I’ve long held that it is vitally important to be environmentally responsible, but not at the cost of bringing the U.S. economy to a halt. Cheaper energy, as a result of regulation change, has the opportunity to bring growth and increased production, and smart, responsible business owners can be environmentally responsible too. But, the politics of it doesn’t seem to see it that way and people get blinded by the environmental fight.