Halfway Reflection

  The behaviors and competencies that I have developed to keep up with weekly assignments and time management along with the necessity of thinking through processes and meeting with a plethora of individuals to ensure that my opportunity is as flushed out as possible. Another is taking criticism and apply it to better my understanding of the course and how it can help my business ideas now and in the future.

  From the onset, my tenacity had to really develop because to have dream of entrepreneurial success you need to keep pushing through thick and thin. Much like what I learned from the Elon Musk is that no matter how many people doubt you, you must preserve and continue for your dreams. For myself, I felt like giving up with my opportunity when I found out that there are many alternatives to caffeine that are ‘natural’ and ‘holistic’. Another time when I felt like giving up was with seeing how many people would prefer to stay with coffee or have no need for a holistic opportunity, because they do not think it's attractive or would be tasty.

My three tips would be:

1.     Perseverance no matter what people say

2.     Dream big, you never know what people may need

3.     If you ask people for ideas make sure to thank them when you hit it big

Reading Reflection No. 1

I read the Elon Musk biography by Ashlee Vance and I can say it was a great read. What surprised me the most was that he had such humble beginnings from building rockets with his cousins and dealing with a rough father. Also, what I admired the most was his perseverance against all those that doubted his dreams and abilities to where he is now as a billionaire. With that being said I least admired was how he initially handled his venture businesses, although minor was something that could have been done better in retrospect.

Elon Musk definitely faced adversity with those that wanted him to fail during his various startups like PayPal and even SpaceX and Tesla. Which these companies were hugely successful and led to his billions. Due to this adversity, he fought for what he believed in and cancelled out those that doubted him, and kept with his dream toward helping humanity. In addition, Elon Musk exhibited perseverance which is a core competency for striving for greatness. While one part that was confusing to me why he would bash other rich people, however I suppose they do not live up to the exceptions of what a millionaire or billionaire should do to help the world, and not be in for their own self-interest.

What questions would I ask to Elon Musk:

1.     How do you drain out all of the haters and those that hope you fail?

a.     I would ask this question because it is something a lot of people struggle with when trying to reach their dreams.

2.     What is one thing that you regret not doing or something that you cannot achieve?

a.     I know many people whether rich or poor have regrets and wish they had something that they cannot achieve despite their own success.

I think Elon’s opinion was on hard work is to never give up and put in the work and take risk to the best of your ability. I share that opinion as well.

Figuring Out Buyer Behavior #1

1.     Segment: Demographic College Students

2.     Interviews:

a.     Interview 1: This interview consisted of a series of questions with someone that has the unmet need of an alternative to caffeinated beverages. This person has a heavy course load which requires long hours in the library and the lab in order to get good grades and long hours of focus. There need for this alternative came when they realized they needed to scale back on how much caffeine they consume. This person is slowly getting rid of their caffeine addiction by taking lower doses of caffeine and finding alternative sources of energy. They searched through natural alternatives but had a hard time finding something that would actually get the same laser focus by searching google for caffeine alternatives. They did not ask family but asked some friends for their input on the issue.

b.     Interview 2: This was conducted with a Florida Cicerone who has long hours of tours and needs to manage time between classes, homework, exams, and papers. They realized their need for caffeine when they would be tired early in the morning for touring and could not be themselves to prospective students. They see a need for an alternative to caffeine because of a fear of addiction since they use it so often. They have done some research in terms of internet searches but they have not asked anyone’s opinions on alternative or whether to keep drinking caffeine. Their solution was to go to the gym in the morning before classes and tours to kick start their morning.

c.     Interview 3: The finally successful interview was with a Student Government Senator that has to find a life-work balance and struggles with not wanting to drink coffee to stay attentive. The need began as soon as they were made put into senate and the work load made it difficult to get sleep. The first solution was caffeine pills then energy drinks on top of that. Clearly, an issue developed and now they seek alternatives to ween off of caffeine because of addiction and to handle withdrawal. They talked to a doctor about the issue after they did research on the internet for alternatives to caffeine pills and energy drinks.

3.     In this particular segment there is a wide need awareness for an alternative to caffeine because many college students drink coffee, energy drinks, or take caffeine pills to be focused in class or the library. Many other alternatives come up in information search but all have varying effects depending on the person or what level they are looking for in terms of energy, product, or service.