Eric ENT3003

Opportunity:  Since my first day as a college student of the University of Florida, I have noticed a problem that most students seem to agree on. Later at night, the restaurants and bars are often crowded and demand waiting in line for long periods of time. Students constantly complain, and there is no way to make plans ahead because no one knows what establishment will have a long line and which ones wont. Changes in the environment have actually made this a larger opportunity. As the weather gets nicer, more people will want to go out. The other main force is the colleges calendar, as days when there are many exams or no school could affect the wait times at these establishments. College students are all on the same relative schedule, and often times all decide to go out celebrating the same event. A prime example of this is gameday. They still go to the bars even though the crowds are crazy and large. Customers currently just wait in line or go downtown, where less people t...

1. I plan on staying with my company until it has expanded all over the country. Once the name and the app is a recognizable name in college towns across the country, I would look into selling. I would do this to ensure that I have sold it when the value is at its highest. This would allow me to make a big profit, but not take the risk of expanding past the college town markets. 2. In my opinion this is the safest exit strategy. If everything went as planned, I would of built this app up to become one of the most popular apps on the market for college students. My exit strategy would allow me to build the app the way I envisioned, make it successful, but also allow me to make a profit before more risk gets thrown into play. 3. I think that my exit strategy influences me to grow my app into many different locations around the country. The goals, before I exit, is to have in college towns all across the east and west coasts of America.

For the reading reflection, I read "Innovation and Entrepreneurship" by Peter Drucker. 1. The general theme of this book was explaining how entrepreneurs and entrepreneurship thrives with innovation and the steps entrepreneurs need to take. He breaks it down into three sections: practicing innovation, practicing entrepreneurship, and strategies. Through these parts he breaks down how entrepreneurs should explore opportunity and always be looking for a way to "exploit change" in society in the form of a product or service that will solve peoples unmet needs. 2. I think this book went right along with the course. Throughout the course we have talked about and completed blog posts about finding the right opportunity and innovation. Through out our blog posts, we have been innovating a new idea that we think will meet peoples unmet needs. This book explains how one should go about doing this. 3. If I had to make an assignment for the book, I would separate the assign...

1. Currently I am enrolled in Business Finance. This class is extremely challenging and the only thing that counts towards the final grade are the 3, 20 question exams. While studying for these exams, I learned that the best way to learn the information was to try and often times fail. Practice problems are the key. I would try out a new problem type. Usually, I would get the problem wrong, But as I tried more, and gained more reputation with each problem, I would start to get problems correct. 2. This taught me that sometimes failure is important. We can learn from our mistakes if there are no mistakes made. This attitude can help people ensure that they are making the most of their time and continually educating themselves. 3.  I think that failure is extremely important. It teaches people what they are doing wrong and shows where they can improve. More importantly, failure shows even the most accomplished people that they are human. Failure shows that you need to put 100% effo...

Existing Market: After talking to a few different people about what they seen in my idea and where I could possibly take it, I decided the pathway begins in a few college towns in the south. Schools like UF, UA, and LSU all have popular nightlife. Many time the majority of bars are so busy that the become outrageously long. There is not much the bar can do about it as they can't go over capacity. After the application is established in a few cities, i can begin to grow. I will still focus on college towns but start to look at new ones in different areas. This will help the brand build nationwide. I think that college towns are the best market to start in and there is a lot of opportunity for growth in these cities. New Market: A new market that I could target would be major cities like New York and Chicago. After talking to a few people who fit this market, I think it could be a good place to target. There are many bars and restaurants in major cities, but with the populati...

Opportunity: Since my first day as a college student of the University of Florida, I have noticed a problem that most students seem to agree on. Later at night, the restaurants and bars are often crowded and demand waiting in line for long periods of time. Students constantly complain, and there is no way to make plans ahead because no one knows what establishment will have a long line and which ones wont. Changes in the environment have actually made this a larger opportunity. As the weather gets nicer, more people will want to go out. The other main force is the colleges calendar, as days when there are many exams or no school could affect the wait times at these establishments. Customers currently just wait in line or go downtown, where less people they are. I think if this need could be solved, everyone would want to go the bars that currently have long lines all the time. This is a large opportunity because other big college towns have this problem too. I believe that there i...