14A – Halfway Reflection

1)      Tenaciousness is a competency. What are the behaviors that you have used (or developed) to keep up with the requirements of this course?

a.       Always finished the homework on time, not late submit. Also, carefully listen to Dr. Pryor's classes every week. Read my team members’ blog every weekend and write down honestly comment.

2)      Tenaciousness is also about attitude. Talk about a moment or two when you felt like "giving up." What pulled you through? Do you feel like you've developed a tenacious attitude during the past two months? What experience or experiences most contributed to this?

a.       A few weeks ago, there is a lot of assignment need to be due. I even can’t fish on time, but I didn’t sleep and finish all the assignments before the deadline. And after I made it, I feel very good and understand people have potential when they are under pressure.

3)      Three tips. What are three tips you would offer next semester's student about (1) fostering the skills that support tenacity and (2) developing the 'tenacious mindset’?

a.       The first one is taking this class seriously!

b.       The second one is to be an early bird that finishes the assignment as early as you can.

c.       The last one is even though got a mistake in Cupcakes but keep your chin up and you will do well next time.

13A – Reading Reflection No. 1

Steve Jobs, Walter Isaacson

I read Steve Jobs when I was in high school, and I still remember most of the detail stories from this book. Even though I read it in the other language version, but Steve Jobs’s entrepreneur spirit still correctly express to readers.

What surprised you the most?

                The most surprising thing is how Steve Jobs persuaded John Sculley, Pepsi president, to work for him and Apple. Steve asked John, “Do you prefer to sell sugar water for the rest of your life or come with me and change the world?”.

What about the entrepreneur did you most admire?

                The pursuit of perfection. Steve Jobs made Apple products perfect. When he created MacBook Air, he asked his team to do it perfectly although most of his engineers thought it was impossible to make a laptop as thin as an envelope. But Steve Jobs made it and changed the definition of a laptop.

What about the entrepreneur did you least admire?

                Steve Jobs complain Bill Gates’ windows OS is shit. Steve is a little bit aggressive also when he tried to “kill” Android.

Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

                Steve never give up. He doesn’t know what is give up. When he got kicked from Apple by John Sculley, he made NeXT and PIXAR Animation Studios. He always had creative ideas and executed.

What competencies did you notice that the entrepreneur exhibited?

                Steve is good at identifying opportunities, and the iPad is a good example to prove it. Steve identified what customers and the market will need. Between big MacBook and small iPhone, there was missing one product between it, therefore, the iPad showed up.

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

                Why Steve refused to do a cancer surgery on time.

If you were able to ask two questions to the entrepreneur, what would you ask? Why?

1.       Do you want to invite John Sculley to be CEO again at that time?

2.       How can you make impossible to be possible?

For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

                Hard working is not all. We need to think and then work in the right direction.

               

12A – Figuring Out Buyer Behavior No. 1

1.       Pick a segment

a.       Demographic

2.       Find three people who would fit that segment and arrange to interview them.

a.       The first guy is a funny guy. He came in and told me that he is looking for a job for a while. He was selling medical raw material to the lab around the north and central Florida area. Because the salary he got couldn’t cover his expenses, so he tries to ask his boss to increase wages but got refused and got faired because of the last two months unmet the requirement. And he said he knows well about this area.

b.       The second lady is a student. She graduates from business school with the information system. Because she grows up in Gainesville, she knows well where the target customers are living in this area.

c.       The third lady is now working in a restaurant full time in Newberry. She has a great relationship with customers in this area because she works in here for over 10 years.

3.       Begin with need awareness.

a.       I think they have the same thing as what I am looking for. They would like to work harder.

4.       Move to information search.

a.       They need money. They have bill need to pay every month or even every two weeks. Most people who are working now are for money because they need to survive and, this is all they need so far.

5.       Report the findings of your research. Simply summarize what you learned in the interviews.

a.       I learned people are struggling to have a better life.

6.       Draw conclusions. Based on what you know about this segment and what you learned in your interviews, how would you succinctly describe this segment in terms of need awareness and information search?

a.       We need to separate the market into a few different segments that we learned from the class. so first, of course, is the market being very important. Because we need to know what we are selling, and who we are selling to. We have to be familiar with our idea and try to find out what is the possibility of our idea could be achieved.

11A – Idea Napkin No. 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?

o   I am a UF senior student in a business school. My talents are good at geography and navigation. I am a sushi chef and can-do simple java. I think I can write a program for equipment to make fast sushi roll.

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

o   I am offering the best service and the freshest food to my customers. In another word, sushi and sashimi are should be fresh all the time. Also, I want to make my customers feel happy when they eat the food I made.

·         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?

o   The people near the Tioga Town Center. The local who are middle class.

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

o   A box of orange chicken can make everyone full, but I need to make people pay more for more “luxury” food. This will include taste, decoration, price, service, the value of the food itself. Fresh yellowtail is not cheap.

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

o   At the beginning, my competency is the price. Use a good price to attract customers from another restaurant. Then, the taste will grab customers’ stomachs with standard services.

10A – Elevator Pitch No. 1

9A – Testing the Hypothesis, Part 2

In the last "Testing the Opportunity Hypothesis" exercise, you explored the limits of the "who," "what," and "why" of your opportunity. In this exercise, I'd like you to further refine your conceptualization of opportunity, especially focusing on setting the boundaries of your opportunity and determining areas that lie outside your boundary definition.

From the previous hypothesis, I talked about the 5G building up system in America. And this time, I interviewed 5 other different people who have the unmet need I found which is about 5G.

From the below table, I will directly show the 3W of my interviews: Who, What, and Where.

Inside the boundary	Outside the boundary
Who is in: interviewer 1,3,4	Who is Not: interviewer 2,5
What the Need is: Better signal and faster internet speed.	What the Need is Not: They don’t often use the phone and not high required for internet speed.
Why the Need Exists: Because they are all heavy user of the phone	Alternative Explanations: LTE or 4G is good enough for them in daily life.

8A – Solving The Problem

1.       Selected Opportunity

a.       5G Equipment

b.       The problem is lacking cheap and latest 5G technology. The leading company in this area is Huawei which is banned by the U.S.

2.       Product/service

a.       There is one way to develop is that go corporate with Huawei company. Go talk with them and pay for them. Not only the patents but also send our employees to Huawei on China to study the newest 5G technology. Huawei and its equipment got banned, but technology can’t be banned. Go study is the way to catch up and figure it out. But also need government support to do this. Providing low-interest loans for the company and nice tax policy for companies.

7A – Testing the Hypothesis, Part 1

1.       5G Equipment

2.       Clearly state the opportunity

a.       The Who:

                                                               i.      Mobile-phone carrier

b.       The What:

                                                               i.      They can’t mass deployment the 5G base stations for the 5G network.

c.       The Why:

                                                               i.      Technology shortage and lacking nice priced 5G equipment

3.       'Hypothesis' about the opportunity.

a.       Testing the who:

                                                               i.      Are there any other countries mobile-phone carriers need?

                                                             ii.      How about Canada?

b.       Testing what:

                                                               i.      Is that 5G only face to the mobile phone?

                                                             ii.      Is there any chance to use 5G on the laptop?

                                                           iii.      How much money for the bill need to pay for the 5G plan?

                                                           iv.      How should the carrier charge the monthly fee to cover the expenses on deployment?

c.       Testing the why:

                                                               i.      Does the government support this?

                                                             ii.      What’s the age range for people who would like to use 5G?

                                                           iii.      What kind of people like to pay for 5G?

4.       Interviews

a.       Mrs. Jade, age 53, doesn’t care about the 5G or not. She only cares about the signal is good enough or not. Because she sometimes can’t get high-speed internet.

b.       Mr. Wade, age 49, he cares a lot 5G. Because he usually watches videos on the phone and faster internet means don’t need to wait for loading the video.

c.       Mr. Wang, age 22, he also cares about 5G because he used a lot of TikTok. He watches it all the time and maybe one day make the video and post it on. He needs a fast uploading speed from his phone for the short videos.

d.       Mr. Zhong, age 32, works in Tencent Technology. He thinks 5G will makes the car smarter. Like the autopilot from Tesla, the car will be smarter based on the 5G that cloud computing power to help car drive better and safer.

e.       Jeff, age 67, he cares about the 5G a lot because he is getting older. He thinks 5G can help doctors do telesurgery more accurately and portable. Like using the phone to complete 1,000 miles away surgery.

5.       Summary

a.       5G is the trending. We are using 4G and LTE that we think maybe already fast enough. Based on the fast network, we can use Google map when we are driving, call Uber anywhere anytime we need, and find a nearby restaurants when we are hungry outside. When we under 4G, we already feel the convenience of the technology. Probably 5G will change more than we think.

6A – Identifying Opportunities in Economic & Regulatory Trends

1.       5G on the Move

https://www.cnbc.com/advertorial/2019/08/21/5g-on-the-move-how-next-gen-networks-will-transform-logistics-and-fleet-management.html?cmpid=ADV_DS_19CNBCTECH

a.       I found this news from CNBC reports about 5G.

b.       As we know Huawei is the leading company in 5G technology, and it is banned by the U.S. for homeland security concerns. Who can build 5G network in the America now? Here is the opportunity to get into the Newborn market of 5G. At&T is working on it now but still 5Ge which is same as LTE or 4G.

c.       Selling the 5G equipment is facing to all mobile operators like Verizon, Sprint, T-Mobile, etc

d.       It’s hard to make new and cheap 5G equipment.

e.       My major is information system. So based the work future I will be, I want to think about.

2.       The Bond Market Is Starting to Get Worried About A Recession Again

https://www.cnbc.com/2020/01/29/the-bond-market-is-starting-to-get-worried-about-a-recession-again.html

a.       Recession means people have no money then they can’t payback mortgage and credit card. Well, housing price will drop.

b.       “The yield curve, or the spread between bonds of various maturities, is tightening again, with the gap between the three-month and 10-year Treasury notes less than 5 basis points Wednesday.”

c.       Foreign real estate investor.

d.       Hard to use. It’s just predicted.

e.       Unforgettable 2008

3.       Marijuana legalization

https://www.paychex.com/articles/compliance/top-regulatory-issues

a.       Canada legalized marijuana, America maybe soon. Found it because in some states, some people are doing these.

b.       Selling Marijuana after legalized. Or managing a plantation. Some stated already legalized selling marijuana, therefor, maybe FL will do so.

c.       Dealer

d.       Hard because dealers have more quicker reaction.

e.       Why? Because we all can smell it somewhere.

4.       Final Overtime Rule

https://www.cnbc.com/2020/01/29/the-bond-market-is-starting-to-get-worried-about-a-recession-again.html

a.       From website that the rule about payment when work overtime. There is the opportunity be an attorney to support workers get more payment if they work overtime.

b.       I think it probably most people even work overtime and get unfair payment; they just complained behind and don’t want to lose job. It’s the chance to stand out and speak out for them.

c.       Workers

d.       Difficult because need have strong legal knowledge.

e.       I am also part time worker, so I can feel them.