Venture Concept No. 1

Opportunity.

·      Who has the need?

People that want to change their lives have the need to make a transition in their lifestyle behavior to reap the satisfaction of being healthy and fit.

·      What are the forces or changes in the environment creating this opportunity? There is a big trend in effect in our society that promotes physically fit individuals because in this era of time we admire the individuals that achieve this image.

·      How is this market defined geographically and demographically? The fitness industry is a universal industry that targets all genders and races, because we all have human body that could be improved to personal preferences.

·      How are customers currently satisfying this need?  And how loyal are they to whatever they use now? 

Customers are going to the gyms and purchasing workout plans, but the loyalty is questionable. I know a few people that start a workout routine and quit after the first week, if they even complete the first week.

·      How big is this opportunity?

The fitness industry is one of the top industries in today’s market, so the potential is vastly greater then most industries.

·      How long will the “window of opportunity” be open?

This window of opportunity will be open for

Innovation.

Brand Name: ALPHA (BREED) / I AM ALPHA

Motto: Strength. Power. Dominance.

Media: Facebook, App (Lifestyle) & Instagram

Our Vision: Our vision for our customers is to transform their life in a way that they feel an overall difference in their mood and self -image.

Components: 1) Training 2) Nutrition 3) Gear/technology 4) Sports & Goods 5) Magazine 6) Alpha Support

Membership:

-       Amount: I have not decided a proper amount to charge yet.

-       3-month membership at a time.

-       Specials for referring a friend

-       Levels: Bronze, Silver, and Gold

-       Free custom shirt with customizing options depending on membership level.

Training:

·      Workouts for the three body types. (Tone/lean, hybrids, bulk (alpha dog))

·      Strength & Power routines

·      Endurance routines

·      Hybrids routines (both intensities of endurance and power at play)

·      Cardio routines: Scheduled runs, stadiums, sprints/jog

·      Flexibility: Routine stretches for pre and post workouts. (Modifies to workout)

·      Personal training: for exclusive members at fee.

Nutrition:

·      Recipes and customize, creative meals: (cut weight, maintain, Muscle-building meals (feasts))

·      Diversity with foods from all cultures, teaching the art of cooking.

·      Levels of energy intake.

·      Meals will be categorized by the amount of time it takes to complete.

·      Shopping lists & tips: that are customized to achieve personal goals. (Varies on allowance/organic foods)

·      Video tutorials: giving step-by-step instructions (in hopes to gave free supplies from seasoning company or anything that we could get for free.)

·      One/one nutrition cooking training: for exclusive members.

·      Supplements: protein or creatine

Gear:

·      Performance gear: comes with membership/ universal clothing

-       Shirts/tank tops: designed with dominance and power.

The graphics will have a message that signifies alpha.

-       Animal Icons: Lion, Great White, Grizzly Bear, Eagle, Patriotic with customization of facial/spirit animal graphic tee. (Jocelisse)

-       Pants/Shorts: performance gear similar to the athletic cut used by Nike.

-       Hats/Beanies

-       Shaker Bottles

-       Rubber/Steel Wrist Bands

-       Alpha Tag (dog tag)

Venture Concept.

·      What are the reasons to think customers would switch to this new product?  How hard will it be to get them to switch? 

I think my customers will switch to my product because I will have a logically supported workout routine along with a nutrition plan. Also, the participants will see the results of these plans and have an idea on how long the process of transformation will take based off of the level of membership.

·      Who are the competitors?  What are their possible weaknesses or vulnerabilities? 

There are a lot of fitness competitors that have a vast amount of products and services out on the market, but I believe that their nutrition plans do not customize to their customers’ preference.

·      What role does packaging, your price points, distribution, customer support, the customer experience or the business location play (if any) in defining your business concept?

Customer support and experience is a vital part in my business concepts because the brand will reflect the thoughts and results from my customers.

·      How would you organize a “business” to support the ongoing production of your new product, service, or process? How many employees? What roles are in the venture?  

I would open up my own gym with fitness classes held inside and I would hire personal trainers to assist my customers in workouts. The personal trainers will be the best in the area with the proper certifications.

The three minor elements

First, describe what you think your most important resource will be. You might call this your venture’s “secret sauce” or “unfair advantage.” Besides your actual innovative product, service, or process, what will you have that will make it hard for competitors to copy your success?

My most important resource will be my social capital. This will help promote my business by having athletes and popular faces advertise my service. The competitors will have a hard to copying the way I deliver my services through one on one interaction with the customer and customizing nutrition plans to each customer’s preference.

Second, what’s next for the venture? Describe either the next opportunity you want to tackle with your current innovation, or describe the next new product, service, or process that may be aimed at your existing customers.

The Quada will be my next venture I pursue. This product will promote proper water consumption through out the day with a fashionable water jug. This jug can also be used for exercise and hydration.

Third, what’s next for you? Assuming you launched, where do you want to be in five years with this venture? Where do you want to be, as an entrepreneur, in the next decade, and how does this first venture help you achieve your vision?

I am finishing writing this business concept and making additions to it every time I research on new exercises and nutritional foods. In five years, I want to own my own gym and food company that services my customers and the general population. In ten years, I want to be wealthy and growing in other industries of interest. This will result in my becoming apart of the top 5% of the population that is wealthy. 

Week 11 Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The biggest surprise for me in this week's reading was  that there was a simple linear regression formula for the sales forecast. 

2) Identify at least one part of the reading that was confusing to you.
One part that was confusing to me was that there was a calculation with mixed variables instead of just fixed and variable.

3) If you were able to ask two questions to the author, what would you ask? Why?
-  Does the pro forma statements have to following after the two steps mention in the chapter? I was curious if this had a strict order of operations or if it could be done independently.
- What kinds of mathematics is needed to provide statements and other essential forms of business organization? I would like to know this in order to sharpen my knowledge in the mathematics needed to form these processes by myself.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I do not think the author was wrong about any of the material presented and I believe that he makes logic. 

Amazon Whisperer

• Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 
•  1) price, 2) variable costs, 3) fixed costs (or overhead), and 4) sales volume
• Describe what kind of product offering you believe should be next. What's the next thing your customers want? 
•  The next product that I will offer will be a gallon water jug with will promote water consumption. 
• Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?
• Hydration is a major key to overall fitness and that will allow the customers to endure the workout longer than without water. 
• Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

This is a gallon water bottle. A gallon of water weighs about 8 lbs.
• What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?
•  They like the capacity of the water the container holds.
• They don't like the weight of the gallon bottle.
• Describe what design/usability changes you'd make to the product. 
•  I would make it with a double-layered plastic with gel inside it to preserve the temperature and it would have four grip for exercise function ability. It will have different color options and able to attach to a backpack. 
• Describe why you think this product would make a good addition to your current product/service offering.
• It will be a good addition to the ALPHA training, because it can come along with the service purchase. The daily recommendation for water consumption is a gallon. This will give a better impression of overall fitness and it is a practical product for my service. 

My Unfair Advantage

Top Resource and why is it so important:

My top resource would have to be my creativity, because it allows me to think differently then most. I can make my ideas reality through my creative thinking process that makes it logic. 

1. Creativity, this is an ascribed skills that a majority of people do not have access to as much as myself. 

2. Motivation, this is a skill that most people can activate, but I have a strong sense of self-motivation. 

3. Knowledge, I have learned the process of research when makes learning valuable information very easy.

4. Innovativeness,  I have an innovative mind that correlates well with my creativity.

5. Networking Skills, I have great interpersonal skills that allow me to create connections with important people that I will need in the future.

6. Drive, I have a relentless drive from previous occurrences in my life, I am truly a conquer of adversity. 

7. Partnership, I have created a relationship with a good friend that has the social capital to be a vital part in my ventures.

8. Financial Investors, I have several wealthy connections that will be willing to invest into my ventures.

9. Personality, I have a likable personality that makes it easy to establish relationships with people.

10. Fairness,  I am a just man and believe in good business, which will allow me to keep a good name for company. 

Growing My Social Capital

Domain expert: Nikil Patel
1) Who they are and what their background is.
His name is Nikil Patel, he is originally from San Fransico, CA. He has been in this industry for ten years and counting. He has established his first personal business in Gainesville, FL the local Chevron gas station/ convenience store. He has developed his hospitality through previous employment at hotels, which he has managed at the Hampton and Comfort Suites. His has developed his sense of marketing, star reports, payroll, conducting reports, yearly projecting,and business management through previous employment history, which he has practiced his knowledge. He has other business ventures, like renting out a house in the local community and he has started his own property management service in Gainesvillle, FL. Ultimately, he is a very successful family man with a wife and kid that drives to a new level of success and motivates his continuous journey of growth. 

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

Nikil Patel is filling the spot of the domain expert because he has started this business from scratch working 16 hour shifts for about two or three years during the start up process of this business. He has experienced how to run a successful gas station and has implemented new services to increase his sales and broaden his customer market.
3) A description of how you found the person and contacted the person.
I found this person from my local gas station, Chevron, and formed a friendship over the past two years through our humorous interactions and kind care. I contacted this person by coming into the gas station and asked for an interview, which he was willingly open to the idea. 

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?
He has granted me an interview in exchange for my loyalty as a customer and friend. 

5) How will including this person in your network enhance your ability to exploit an opportunity?

Yes, I think it was enhance my network through advertisement in his stores since he is a business man with many locations of business. 

Supplier: Sam's Club, Pepsi, Arizona, Mtn. Dew, Barkhardth, Cone, HT Hackney, Brown distribution. 

 Bark1) Who they are and what their background is.

These suppliers are decorations that produces their products in whole sale quantities and sells their products to local business in counties all around America. 

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

These corporations fill the spot of supplier because they produce mass production of their products and sell mass quantities among other businesses, like convenience stores. 

3) A description of how you found the person and contacted the person.

I found the names of these corporations through Nicks logs of transactions and record book from recent prior business transactions. I could contact these corporations, but I was able to run into one of the truck workers and ask them about the service. They gave me a brief overall explanation of where they deliver to and how much they deliver to these local businesses. 

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

There was not a nature of exchange at all since I was not able to contact with the corporation. I was pleased with the explanation from the corporation workers and what was their work expectations, which was a delivery. 

5) How will including this person in your network enhance your ability to exploit an opportunity?

No, this person will not enhanced my network, but in the future can supply me with mass products at a whole sale price. 

Expert in industry: Ale Smith, worker for America Tax Company.

1) Who they are and what their background is.
Ale Smith is an employee at the company known as, America Tax Company. He has worked there for three years now and he has practiced his services to many local businesses. He is from Valdosta, Georgia with a passion in finances and wants to help the economic status of his local community in anyway. He has a drive for success that was obtained through the hardships of his family life that he has converted in motivation. He is a happy man with a wife and a newborn son.

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.

This person fills the spot as a market expert because he has went to college for an education in business management and has a current profession as a financial analyzer.  He is a certified public accountant in Gainesville, FL that works with the America Tax Company. 

3) A description of how you found the person and contacted the person.

I contacted this person through Nikil since he is his personal CPA that certifies his records for government purposes. 

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation?
There was not an exchange at all, but he did say if I needed his help in the future to contact him. 

5) How will including this person in your network enhance your ability to exploit an opportunity?
Possibly, I am unsure of all the connections he has or if he can enhance my network in any way besides management services. 

Finally: Reflect. This experience requires you to do a little 'targeted networking.' How will this experience shape how you participate in any future networking events? Did this experience differ from your networking experiences in the past? How?

This experience will shape how I approach other future networking events by allowing me to structure my questions similar to the ones I asked in the list of five given to me. I will have a better sense of confident when it is time for me to go out and explore more networking opportunities. This experience differed from other ones due to the mission and purpose of the interview. However, it was not too different in sense that it was an one on one interview and an exercise of communicating with others. 

Week 10 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The biggest surprise for me as I read the chapter was how practical social media platforms are in growth in business ventures and overall exposure of your services or products. 

2) Identify at least one part of the reading that was confusing to you.

One part of the text that was confusing to me was the part were I was introduced to the different components of social media marketing and the tools I need to successfully execute a media marketing strategy. 

3) If you were able to ask two questions to the author, what would you ask? Why?

1. Which type of marketing research is the best to use? I am wondering which is best to utilize when researching on industries of interest.

2.  Where can I find marketing research that is not expensive? I want to know this so that I can get the least costly service. 

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

No, I did not think the author was incorrect on any of the information that was given.

Elevator Pitch No. 3

2) A reflection on the feedback you received from your last pitch. Describe what stood out to you as important, what feedback surprised you the most, what feedback you think was outright wrong or silly.

My thoughts on the feedback I received on my last pitch was that most of them were practical, however some opinions did not make sense. I liked the idea of creating a seasonal menu that kept traditional dishes to provide customers with their favorites. Another opinion was to have the meats seasoned or marginated the day before to provide optimal seasoning. The idea  that I concerned to be silly was to implement other menus from local businesses into my menu, which I find to be basic and unoriginal to the local customers. 

3) What did you change, based on the feedback?

I changed the menu options based off some of the critics for interviewees that suggested that a few foods would not be an asset to my ventures success. I have made changes in the styles of foods and the cultural foods that I would have on my menu.  

My Secret Sauce

How I see myself, human capital:
1. I have an unbreakable mindset that enables me to overcome adversity.
2. I am a strong physical human being that has great athleticism.
3. I have a hard work ethic, I developed this through athletics.
4. I have a tenacious will to be the best I can be.
5. I have passion in all things that I put my focus upon.

Interviews:

Krista: The takeaways from this interview was that she perceived me to be an emotional guy that can be mean at times. She finds me to be "more or less" athletic and she believes that I am a creative guy. She is a honest, straight forward type of friend that does not like being recorded so I thank her truly for this interview.

Jesse: My takeaways from this interview was that Jesse perceives me to be a passionate guy that cares about my family's well being. He views me as an innovative guy that was a lot of potential that could get unfocused because of the vast amount of ideas I have produced. He notices my will and drive to be the best I can be and sees success within my future.

Reja: From this interview I had noticed that Reja perceives me to be a overall fit and mindful guy that is devoted to greta health. He thinks I have a very analytical mind, which allows me to think deeply on situations. He finds me to also acquire a creative mindset and my willingness to learn is something he strongly likes about me.

Solomon: I got from this interview was that Solomon thinks I am an outgoing guy that seeks friendships. He likes my networking skills because I am a friendly person that seeks for help from others and have that relation to ask for assistance when I am in need.

Marrissa: Forewarning she is very timid when it comes to being recorded, but she is a dear friend of mine. She thinks that I am a kind, outgoing guy with an adventurous lifestyle. She views me as an athletic person that a creative mind.

Reflect on the differences. How do you see yourself, and how do others see you? Are there differences in how you assess yourself compared to others? What do you think causes these differences? Do you think your interviewees are correct about you? Finally, going back to your list from part 1, would you make any corrections to the list? How? 

I see myself as a strong minded young man with the will and desire to achieve my dreams. I have a tenacious attitude with that I am able to overcome many different forms of adversity that could detour my focus or impede my overall success. 
My peers view me as an emotional guy that is very outgoing and passionate about what I do.They  perceive me to be healthy and overall fit, which they find to be impressive because of the physical and mental changes that has resulted from it. 
These differences are caused by my upbringing and facing a major obstacle at the age of 17 years old. I was involved in a zip lining accident falling approx.. 30 feet to the ground. The accident resulted in my back being broken in five different locations. After that accident, I pursued my dreams of playing football and got accepted into UF to be apart of the football team. 
I believe that the interviewees are correct about me because they are the ones who know me the best and who I associate myself with majority of the time when I am not busy. I would  not make any corrections to the list since I believe that my judgements are just and accurate. 

Week 9 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

The biggest surprise to me while reading the chapter was the excessive amount of time it takes for an individual  to get a patent processed and approved. The cost of this process was shocking to have to pay such a large sum of money. 

2) Identify at least one part of the reading that was confusing to you.

One part of the reading that was confusing would have to be the various forms of marketing research and how to properly implement these tactics in my business ventures.

3) If you were able to ask two questions to the author, what would you ask? Why?

Which market research tactic is best to use? I wonder this because I found a lot of different methods but I am unsure on which one to use.

How to secure your ideas or innovations during the patent process? I want to know how to protect my ideas from infringement. 

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

I can not disagree with the material presented to me, because I do not acquire any previous knowledge to these concepts. 

Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

I am Vincent DiMenna, a natural born athlete with a mindset that knows how to adapt and overcome most obstacles with the use of positivity and hard work. My skills are being able to communicate effectively with my peers and lead the crowd when guidance is needed. I have obtained a great work ethic from earlier experiences with athletics throughout my high school years and even received training at the collegiate level. I have acquired the knowledge on how to instruct proper weight training and conditioning. My business concept will play a vital role in my life because I plan on opening up my own gym along with an organic based restaurant. After I have implemented all the necessary steps to obtain the financial background to successfully create a gym and successfully run my restaurant I will then be satisfied.

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

The services I will provide for my customers will be personal training, nutritional cooking lessons, with the top chefs to instruct and teach the members and mental conditioning that will construct the ideal mindset that will prone members to excel beyond their expectations. The membership will come along with a company shirt to signify the belonging to the lifestyle. Additionally, there will be fitness gear that will be sold in the lobby as well as on my online site. The restaurant that I will open up will produce organic foods that will promote optimal nutrition among all who experience the delicious menu.  

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

The audience that I will appeal to will be the people, who want to improve their overall health and lifestyle. I will provide the information to teach my members that are interested in learning different methods of cooking and weight training, which all methods will be up to date and constantly updated when new discovery present themselves. 

The demographic and psycho graphic characteristics of my customers will be internationally based to all cultures and genders who obtain a mind set of true determination and will to change their lifestyle behaviors, which ultimately alters their life for the better by teaching them valuable skills in the weight room and the kitchen.  

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

Customers will pay me money for my services because it is an extremely unique service that will provide a database that will contain knowledge on different areas of health and workout strategies created for the success of the customers. The membership will provide an individual experience by customizing their nutrition plans based on their preferences of food choice and their work out routines will be altered based off of personal wants. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

I will have a gym that will have a meal prepping service that is optional with the membership, so that the membership customers that chose to pay the extra fee will be provided with a nutrition plan and will allow them to either participate or watch how to cook different types and styles of food. The gym will have a cafeteria attached to it for workshop space for the members to cook their foods with friends and family. 

The five main points I took from my feedback was the implementation of providing space in the cafeteria for the members to cook and socialize in hopes that they learn and grow into better cooks altogether. Another key point that was suggested was that there be a mental condition regime to prevent members from quoting on themselves and promote self esteem. The third point was to have a diversity when it comes to cultural foods to attract and provide a service for all cultures. The fourth point was to provide each member with a shirt to symbolize the individual's association to the company. The fifth key point is the implementation of customizing the member's nutrition plan for optimal satisfaction and success with completing the lifestyle conversion.
I believe that these five additions to my business plan are very practical. The points will add to my business's uniqueness and overall presentation as a whole. The implementations have enhanced my business by allowing a few simple additions to create a grand difference in the end results. I found the feedback to be quiet logical and have expanded my services for the better.