18A Create a Customer Avatar

The Customer Avatar:

The prototypical customer for my product is a middle-aged, middle-class father who lives in a one-story home - where he is still paying off the mortgage - and who drives a 2009 Toyota Prius and can’t stop bragging about the incredible gas mileage to justify his purchase. He is married with two children and is most likely from the North East (or maybe Idaho). He is most likely 40 years old but says that he doesn’t feel a day over 30.
He watches the evening news, Jeopardy, Wheel of Fortune, Shark Tank, and football.
His favorite team is the Buffalo Bills, and he wears a Josh Allen Jersey every Sunday. 
He leans more to the conservative side but doesn’t vote based on party affiliation. 
Here is a picture of the prototypical customer (just imagine a few wrinkles on his forehead).

What do I have in common with the avatar?
I don’t have much in common with the avatar except for 3 things:
I am not too concerned with being fancy. I would also rather drive a Prius if it gave me good gas mileage, and I would definitely look to save money on my cable bills.
I am also from the North East where I lived in upstate New York for a few years before moving down to Florida.
I also wear glasses.
I don’t think these are coincidences (except the glasses part). I grew up with many people that were just like this in my home town in Palm Coast, so I am not too surprised.

15A Figuring Out Buyer Behavior No. 2

The set of alternatives that my potential customers picked from:
Price
Ease-of-use
Overall Value

Here is the summary of the interviews:

All interviewees highlighted price and overall value as the most important aspect. The interviewees all had a cable/satellite subscription and they paid a lot of money for the service.

One of the interviewees was an older man, and he also expressed that the new system should be easy to use or at least comparable to his satellite television. 

Regarding the places they buy, 2 of the 3 interviewees strictly preferred online to in-store. The interviewees all said that they would pay for the product with card but not finance the purchase - this is also because I told them that the packages will most likely range from $50 to $100 (after reevaluating, I now believe that $50 to $150 is more reasonable). 

Across the board, the interviewees expressed that the main factor that will determine if this purchase was worth it is if the monthly bills come back lower - and noticeably lower: enough to justify the initial price of $50 - $100. Also, they stated that they would be disappointed if they did not have access to the shows that they had before. 

Conclusion:

From these interviews, I can conclude that price and value are of the utmost importance to potential customers. With this in mind, I now know that the most effective way to market my product is not by how luxurious it is, but rather by the amount of money it will save customers in the long-run. I also realized that I should find a way to keep costs even lower because the target market is made up of middle-class cable/satellite households in Volusia/Flagler County. 

17A Elevator Speech No. 2

Here is the link to my elevator speech: https://youtu.be/_X6tsoo_Kck

2.) I never received any feedback from last time because I did not do the first assignment. This is technically my first elevator speech in that respect. I did notice that it was very difficult to find the right angle to record the video. I ended up just putting my laptop on top of my refrigerator as that was the only place that could best capture me.

3.) As mentioned before, I didn't really change anything because this is my first time submitting the assignment.

Please criticize my elevator speech. Be honest: don't worry about hurting my feelings.

Thank you!

13A - Reading Reflection No. 1

Book: The Wright Brothers by David McCullough
1.) What surprised me the most?
The one thing that really surprised me about the Wright Brothers is that they didn’t have any real formal education. They were obviously extremely intelligent, but all of my life I have believed that to be successful or “to make it,” one must attain at least a high school diploma, but usually a college degree.
What did I most admire?
Their dedication. The two brothers went against the many odds and problems to make the airplanes.  After all, these brothers worked at a bicycle shop before dedicating everything to flight.
What did I least admire?
…
Did these entrepreneurs encounter failure or challenges? How did they react?
Yes. Besides the mechanical challenges that came from building the airplane, they originally faced challenges with trying to get people to purchase their products in the United States due to people doubting them.  The way they worked around this is by setting up shop in Europe for a little. 

2.) What competencies did you notice that the entrepreneur exhibited?
The entrepreneurs exhibited dedication, resilience, and perseverance.

3.) What part of the reading was confusing to me?
The part that confused me was that it was only when Wilbur was interviewed by the French aviation journalist, Francois Peyrey, that really gave the Wright Brothers a ton of credibility/publicity. However, it doesn’t make sense that only one journalist from a foreign country would give credibility the way it did.

4.) Two questions I would ask the Wright Brothers and why?
Do you consider the arguments that you had with each other beneficial or an obstacle to accomplishing your invention? I would ask this because I know that arguments could help the project or they could delay some processes. Sometimes, these could occur simultaneously.

Why didn’t you go back to school once you “made it?”
I would ask this because many people value higher education and the fact that they didn’t really pursue it after they became famous. Perhaps they knew that they were smart enough that they didn’t need a degree to qualify them.

5.) What do I think the entrepreneurs’ opinion on hard work was? Do I share that opinion?
The Wright brothers’ opinion on hard work was that hard work is essential for successful. These brothers are the epitome of hard work, dedication, and discipline.  When they left Dayton for Kitty Hawk, the weather was awful. It was raining and storming, yet the two brothers didn’t hesitate to drill a 10 ft well in the ground and setting up camp.  They persisted through everything until their deaths.  I definitely share this opinion. I believe in doing what is necessary and right - no matter how difficult it is.  With that being said, my work ethic is only a fraction of the two brothers’.  It’s something that really inspires me to work hard.

14A- Halfway Reflection

1.) Tenaciousness is a competency: The behaviors that I use to keep up with the requirements and deadlines associated with the course are getting started early, keeping a google drive folder, and watching lectures within a day or two of being posted. 
By watching the lectures on time, I am able to perform well on the cupcakes (I have missed a couple of questions though!).
I also keep a folder in Google Drive for all the work that I submit. This is not required, but it definitely helps with organizing the course material that I complete.
Probably the most beneficial behavior that I use is starting early on some assignments. I do not do this all of the time, but it has proven to be one of the best methods for getting things done. Let’s face it, you’re a college student who probably has a few other courses with assignments and exams.  It’s best to knock-out these assignments when you can so that when the due date approaches, you are not stuck with calculus homework, economics homework, and two assignments that require you to interview people.

2.) Tenaciousness is also about attitude: There have been many moments where I have had the urge to “give up.” The urge to “give up” is rooted in laziness and fear: too lazy to complete the assignment and too scared to hear negative opinions of your business idea.
The way I conquer this feeling is by reminding myself that everything good requires some sacrifice and risk.  With that being said, I have definitely deepened my tenacious attitude.

3.) Three tips: To foster the skills that support tenacity and develop a tenacious mindset, I would recommend the following tips:
-Just Start: No matter how daunting any assignment or problem looks, you will make it 10x harder by thinking about how hard it is.  Instead, just start and work one part at a time. This helps me complete so many of these “impossible” tasks. 
-Have Discipline: Some days you will feel like doing 100 tasks, while other days you’ll just want to stay in bed and do nothing. It is for these “tired” days that you need to develop discipline. There are many days that I struggle with waking up on time in the morning. I would love to rest in my nice, warm, and comfortable bed all day if I could. However, I am disciplined. I push myself up and perform my morning pushups.  Then, I make the bed and get my day started. Some days, I lack all motivation.  On days like these, I just push myself to go through the motions. Never giving up.
-Take Breaks: Be disciplined in taking breaks too. Burning out is a real thing, and even though I would love to keep going, it is more beneficial to take a break.  As Gary Vaynerchuk says, “It’s a marathon, not a sprint.”

Good luck!

12A - Figuring Out Buyer Behavior

Segment:
Middle-class homeowners in suburbia who have cable television or streaming services.
I found three people who fit the segment.

Here is the Summary:
Two of the three are subscribed to cable television. One of the three is not subscribed to any streaming service. She is not happy with her cable company but enjoys having television. She said that she has considered switching to streaming and free antenna tv. I asked her when she thinks about it most, and it’s when she sees her cable bill. I asked her how she searched for solutions, and she said that aside from basic Google searches, she mainly asked her coworkers, friends, neighbors, and family that have switched from cable to streaming exclusively.  The person who has both cable and Hulu explained to me that the streaming services are just to supplement his cable experience.  He stated that he doesn’t like the high price attached with his cable tv, but his plan includes a sports subscription that he is comfortable with. He also mentioned that he hasn’t looked to get rid of cable unless he can watch live sports without it.  The third person left their cable company years ago and actually installed a large outdoor antenna in their house. He subscribes to Netflix and will occasionally rent movies that are not on Netflix.  Price was the biggest consideration for this person, and like the first person, he hated seeing the increases in his monthly bills. 

Conclusions:
It appears to be evident that the potential customers are aware of the problem when they have to pay their cable bill.  This is when the customer is most upset and legitimately considers the alternatives to cable.  I think a good idea would be to find out when customers in a town receive the cable bill in the mail and then send them a slip saying, “STOP OVERPAYING FOR CABLE! SWITCH TODAY!”

11A - Idea Napkin No. 1

1.) I am an econ major from Palm Coast, Florida that is skilled in finding economic trends and tendencies.  I can proficiently communicate with others, and I enjoy studying philosophy when I can. I aspire to be a better man every day. Regarding careers, I would like to do some form of data or economic analysis in the public or private sector. Regarding this business, I definitely would see it as being a primary focus of my efforts in life - if I was to start it.
2.) I am offering a package that will help the customers switch from cable television to streaming providers.
3.) I am offering this package to middle-aged and middle-class cable users in the city of Palm Coast. The customer I am looking for is one that has noticed the increase in their cable bills while their wages have remained relatively unchanged. 
4.) Customers will pay me money because I am saving them money. They still have access to the entertainment that they enjoy without the hefty price tag. 
5.) My core competencies are that I am super observant when it comes to trends in a micro and a macro level.  This sets me apart because I am able to shift my focus and energy when I need to.  Also, I am really proficient with computers since I had to repair many and even built my own.