14A – Halfway Reflection

1) Tenaciousness is a competency.

• The main behaviors that I have used to keep up with this course requirements are time management and critical thinking. The assignment due dates are very strange being at 12 pm every Friday and Monday, which made me plan out my schedule in order to complete the assignment well before the due date. I made Wednesday the day dedicated to writing and posting my blogs for the upcoming assignments. Time management allows me to keep ahead of the assignments so I am not struggling to complete them the night before. Lastly, in this course, one needs to really evaluate every idea or thought critically to determine the practicality of it in relation to the problem at hand. 

2) Tenaciousness is also about attitude.

• There is one story that reminds me of a time I considered "giving up". I was sixteen at the time and entering my first half-marathon. During the race, about seven miles in, I started to think about stopping for a little to catch my breath. The voice in my head told me that this race didn't matter, so why would I push myself to run the whole thing for nothing. I quickly realized that this voice was trying to convince me to quit on myself. I knew I could run the whole thing without stopping because I put in the work, so I decided to continue the work at the race and show my inner quitter who was boss. 
• Yes, I do believe I have gained a more tenacious attitude over the course of the last two months. This is mainly due to my understanding that everything in this world requires hard work and grit. We will all fail at some point but those who keep pushing through their failure will always come out as winners. 

3) Three tips.

1. Enjoy the process and be proud of yourself for working hard. 
2. Start planning out the next day or week more, and be specific. 
3. Develop productive/healthy habits outside of school, and enjoy learning in all forms. 

13A – Reading Reflection No. 1

Book: Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, Ashlee Vance

1) You read about an entrepreneur:

• The most surprising thing I found about Elon Musk was his bold vision for the oil-free car industry at such a young age. Mr. Musk has been pondering some of the most difficult problems of our species since he was a student. He also dreamed of humans colonizing various planets, which brought forth the creation of SpaceX. All of these ideas/solutions are crazy for anyone to ponder, let alone a young man still in schooling. 
• Obvisouly, Elon Musk has many entrepreneurial skills to admire, but for me personally, I truly admire his passion and vision for the future. Elon Musk is truly one of the boldest to ever come out of Silicon Valley and his technology is literally shaping our future before our very eyes. Elon Musk's creation of Tesla and SpaceX are truly special, and they show that hard work and passion can truly change the world. 
• However, Elon Musk does bring a bit of unadmirable qualities, such as his profound, blinding confidence in his various creations. I believe Mr. Musk over-promises about the future when speaking about his various companies. Additionaly, Mr. Musk does project a sense of supreme superiority to any critic who questions one of his ideas. 
• Elon Musk persevered through many different hardships throughout his life. The first one being his removal as CEO of the company he started, ZIP2. The second during 2008 when Tesla and SpaceX were on the verge of bankruptcy. In regards to Musk's CEO removal, he stayed on board with the company and stuck to being chief technology officer. In regards to keeping both Tesla and SpaceX afloat during the 2008 financial crisis Musk had to sell off various assets, as well as land a NASA contract for SpaceX and raise more money from investors for Tesla. 

2) What competencies did you notice that the entrepreneur exhibited?

• Elon Musk exhibits extreme passion and determination when pursuing any new business venture or project. He also has the ability to juggle two highly demanding companies, both of which faced immediate bankruptcy a few years ago. Lastly, he also has the ability to channel various amounts of knowledge and direction into any project with a flip of a switch. 

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

• There wasn't much that confused me about this biography, but the confusing part of the biography was about SolarCity and its relation to Tesla. I understood that Tesla also makes solar panels and batteries but I did not understand why they were separated companies. 

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

1. How do you personally measure your own success? 
2. How do you constantly keep innovating?

Why: I would ask Elon Musk the first question to gain insight on how to properly navigate a personally fulfilling and successful career. I would ask the second question just based on my own curiosity for how one continues to innovate year after year. 

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

• Elon Musk views hard work as the key for any entrepreneur to be successful in their pursuits. Elon Musk is his own testament to the benefits of hard work and perseverance. I share the exact same opinion of this belief. 

12A – Figuring Out Buyer Behavior No. 1

1. The segment I will be focusing on is individual gym-goers where their focus is on building a healthier and stronger body. These individuals will most likely already be in the market for supplementation, however, they might not know about proper nutrition or exactly what they are putting their body.

2. The first individual I interviewed was a young man, age 22, at a local gym here in Gainesville. He has been going to the gym for two years consistently and took all of his advice mainly from 'fitness influencers' on Instagram/Facebook.  The second individual I interviewed was the gym manager at the local gym I attend. He has been living an active lifestyle and going to the gym for over thirty years. He is very knowledgeable about supplementation due to his long history in the fitness/supplement industry. The last individual I interviewed was a worker at GNC. He has been working at this particular GNC for a little over a year now and knows about the most popular supplements sold at his GNC. 

3. The first individual stated that his needs became aware when he noticed that he was feeling extremely groggy and had some serious stomach pains due to the supplements he been taking that were recommended by one of the fitness influencers he followed. He said he wished to find a brand that delivered accurate and safe products that benefited his overall health, as well as his performance goals in the gym.

The second individual, gym manager, stated that he became aware of his wellness needs due to some health complications that came from aging as well as poor dietary decisions when he was younger. He said he needed to find supplementation that helped him stay healthy and active as he grew older.

The last individual I spoke with at the GNC said his need for a healthier line of supplements came from his experience of trying many different supplements offered at his store that made him feel bloated and fatigued at the end of the day. He said most products were designed to be high stim and full of filler ingredients.

4. Every individual I interviewed had the same kind of realization when consuming in the supplement industry. They all had the previous experience of taking particular supplements that really gave no real benefit and actually made their health worse-off. All of the individuals I interviewed had searched on Google things like "low-stime pre-workout", "gut aid", and "superfood powder". Basically, all of these individuals started looking deeper into the wellness side of the sports nutrition industry.

5. From the interviews, I learned that many individuals are still under-educated when it comes to proper nutrition and finding. Most individuals follow basic garbage advice from individuals sponsored by these larger sports nutrition supplement companies. Most individuals do not do their proper due diligence before buying a product from their local supplement store. This has informed me to start informing potential customers of proper nutrition and how that plays a major role in how they feel.

6. The segment I selected was highly aware of all the issues I intended to solve with the creation of Anam Beauty and Wellness. There are not many options out there that consumers have when trying to find all-natural supplements focused on overall health. Lastly, many consumers are simply unaware of quality supplements and struggle to differentiate the good from the junk.

11A – Idea Napkin No. 1

1) You-
Hello everyone, my name is David Dietrich. I am a sophomore at the University of Florida studying Business Management. I believe one of my most valuable talents to be my communication/social skills. Throughout my whole life, I have been able to form friendships and influence people around me. I find it relatively easy to find common ground with individuals which allows me to form a collaborative relationship fairly well. This skill is imperative, especially in business when dealing with different individuals who all have different backgrounds and upbringings. As I previously stated in one of my early blog posts, I am currently working on launching my supplement company, Anam Beauty and Wellness. This project has taken more work than I ever anticipated. I have learned that as an entrepreneur you have to take on almost every role in starting the business, especially in the beginning. Before I started this business venture I worked for Southern Orthopedic Specialist in the DME department. My job was to keep track of inventory and report all of it to the head accountant. This job gave me a great look into the immense amount of work that is needed to maintain proper records for when reporting income statements and balance sheets.

2)What are you offering to the customers-
Anam Beauty and Wellness is offering a clean and all-natural product line of wellness supplements to our customers. The four products we are launching with are designed to help individuals build an overall healthier lifestyle, one day at a time. Many supplement companies within the industry are focused on catering to the male bodybuilding community, which leaves the rest of the market pretty barren in terms of options for their dietary needs. The wellness community as a whole focuses on improving overall health through supplementation, this is the goal of Anam Beauty and Wellness.

3) Who are you offering it to-
The optimal customer for my business will be mainly individuals focused on developing a healthier lifestyle through proper supplementation. These customers will mainly be in the age range of 18-50 and primarily female. These individuals will be pursuing a more active lifestyle, most likely focusing on weight loss and other aesthetic benefits.

4) Why do they care-
I believe these customers will care for my products due to the companies' focus on delivering supplements that focus on benefitting overall wellness, which is the best way to develop a healthy lifestyle. Many supplement companies pitch a message of instant results which is a direct lie to the consumer, while Anam is focused on helping empower the consumer through building a clean diet/lifestyle.

5) What are your core competencies-
I believe the biggest thing that separates Anam Beauty and Wellness from the rest of the companies in the industry is our commitment to transparency as well as honesty. Our products alone won't change an individual's life, but with them, the consumer will take strides to claim a new sense of life by dedicating themselves to a better and healthier version of themself. Anam was created to deliver products that actually work based on science, not basic gimmicks or hype. These products were created to help the consumer in reaching for a new goal and to help them love the process of getting better.

Summary-
Overall, I believe all five of these elements fit together perfectly. Writing out these five aspects helped me visualize the development and vision for my company. They helped me be honest with myself on how exactly I need to better develop and market my products to the world. Creating a business continues to be a challenge and I continue to learn as I go along this difficult journey.

10A – Elevator Pitch No. 1

 

9A-Testing the Hypothesis, Pt. 2

Introduction: I spoke with five female gym-goers who attend my local gym. I asked them questions surrounding the supplement industry and how exactly they feel left out by the mainstream market.

-Interview 1 & 2 Conclusion

Who: Listed off various supplement businesses, Optimum Nutrition, that focus on intense and 'masculine' products that do not focus on the needs of the women market, such as prenatal and feminine supplement products. It is clear that more and more women are going to the gym to achieve a healthier and more active body type.

What: The need I identified differs from another need when there is a preference shift in ideals. The opportunity I identified is designed to focus on the greater nutritional needs of all rather than one specific niche of the supplement market.

Why: Yes, the outsider of my opportunity is looking for a more specific and "intense" supplement need, such as high caffeine content pre-workout.

-Interview 3 & 4 Conclusion

Who: Yes, businesses such as PrimeEvil Labs, fall way outside the opportunity boundary. These companies focus on intense formulations and not quality nutrients for the body.

What: The need shifts when the individual consumer has preferences for another business that provides products for a specific niche.

Why: Yes, the outsider is looking for a product to deliver a more direct result usually for muscle growth and development. This is not a large portion of the entire market and not a niche my opportunity tends to target.

-Interview 5 Conclusion

Who: Yes, specific businesses were not listed by these individuals I interviewed but they did say many companies try to create products specifically for the more aggressive and muscle driven gym-goer.

What: The need shifts again when individual consumers are seeking a more specific supplementation need, such as a testosterone booster which is a more direct niche market.

Why: Yes, the outsider would be looking for a more masculine product focused on developing mass and muscles. The portion of individual consumers looking for products of this nature are few compared to the overall market.

Table:

Who is In- Individuals trying to build a healthier lifestyle.	Who is Not- Individuals looking for a more intense product designed to promote muscle mass and extreme energy.
What the Need Is- Supplements designed to promote a healthy and active lifestyle	What the Need is Not- Supplements designed for extreme intensity and increasing "testosterone".
Why the Need Exists- Many supplement companies deliver products designed for intensity and muscle growth.	Alternative Explanations- None.

                                                 

                         

                 

8A – Solving The Problem

The opportunity that I want to pursue is a supplement line that focuses on creating a new standard for basic health and beauty, specially targeted for women. If you ever find yourself browsing the shelves of a local vitamin shop you will usually find products of all sorts focused on enhancing muscles and promising weight loss. However, there are very few brands that focus on delivering quality products that actually help maintain overall health, which is critical to something like weight loss. Through my extensive time as a consumer in the supplement industry and my interviews at the gym, I have found that many people are looking for a clean and transparent supplement line. This line of supplements should focus on vegan options for protein powders and collagen, as well as all-natural ingredients for superfood products.  I believe focusing on these key aspects for building this supplement line is key for success in this market, as well as changing the overall consumer environment. A major goal of this supplement line will be to educate the consumer on the exact benefit of each product and why it should be taken, as well as showing clinical studies for ingredients within each product.

7A – Testing the Hypothesis, Part 1

The opportunity that I will be pursuing is the creation of a supplement line designed to meet the wellness needs of all, especially women. Many women are heavily undervalued in the supplement and wellness industry, and I want to seize that opportunity to create a line that values women in the market. I intend to create a line of supplements that focuses on the benefits of vitamins and minerals to maximize gut health, energy, and recovery.

Part 2:
The Who: Individuals trying to pursue a healthier lifestyle, specifically women and young adults.
The What: Women are undervalued in the supplement market and I want to create a line of supplements directly for them.
The Why: There are very limited options for women to choose from when picking supplements.

Part 3:
Testing the Who: The main individuals who share this need are women specifically, but also other individuals trying to find a cleaner supplement line more focused on overall health.
Testing the What: The supplement line will benefit those most interested in pursuing a better quality of health, but those seeking a more "bodybuilding" line of supplements will not be as interested.
Testing the Why: Individuals focused on building a healthier lifestyle will be interested in this line of supplements, but these individuals also might be drawn to another company based on another need.

Part 4:
Summary: Between all of my five interviews I was able to take away a few key aspects for my opportunity and its application into this market. I was able to find that most women again feel left out when it comes to supplements, and think most supplement lines are too intense or worthless. 

6A Identifying Opportunities in Economic & Regulatory Trends

Economic
Title: "5G wireless is coming, with expectations of fabulous innovations and unknown dangers."
Source: https://www.cnet.com/how-to/5g-what-it-means-for-the-rest-of-us/

The ability for all human's on earth to be connected 24/7 is truly amazing and scary, and 5G integration will only make that instant connection even more instant. I believe this better service will create many new opportunities in the market, especially regarding car connectivity and virtual reality. This new technology will open the doors for a more connected and faster world. I think everyone, who at least has access to the internet, is the ideal customer for this kind of technology. I saw this opportunity due to the fact that I like to stay up to date with fast-paced markets, especially with technology and science.

Economic
Title: "Coronavirus Outbreak Strains Global Medical-Mask Market"
Source: https://www.wsj.com/articles/coronavirus-outbreak-strains-global-medical-mask-market-11580985003

The coronavirus has had a terrible toll on both the Chinese economy and its citizens. However, this terrible event has sparked a new global economic opportunity to arise. Masks are selling off the shelves faster than they can stock them in most parts of Asia. I believe this disease is opening the world's eyes to the dangers these novel viruses pose to our species, which in return creates the need/opportunity for better, reusable masks that everyone can use. I believe the customer for this opportunity is anyone and everyone who is trying to stay healthy and safe when the flu or other viruses come along into our communities. I saw this opportunity arise due to the attention the coronavirus has drawn.

Regulatory Change
Title: "Companies Find Ways to Bypass Tariffs on Chinese Imports"
Source: https://www.wsj.com/articles/companies-find-ways-to-bypass-tariffs-on-chinese-imports-11580986804

The United States and China have been battling it out these last few years over trade, and this has caused many U.S based companies to shift the way they import goods into the country. I believe a new opportunity has arisen for other, smaller countries, to start producing more goods for large US companies. Nike, for example, has shifted some of its production over to Vietnam to handle these inflated tariffs on imports from China.  The customers for this new opportunity would be any company based outside China who would provide the proper manufacturing for US-based companies. I saw this opportunity arise due to the news surrounding the trade war.

Regulatory Change
Title: "Vaporizers, E-Cigarettes, and other Electronic Nicotine Delivery Systems (ENDS)"
Source: https://www.fda.gov/tobacco-products/products-ingredients-components/vaporizers-e-cigarettes-and-other-electronic-nicotine-delivery-systems-ends

The recent regulatory change to increase the age to purchase tobacco from 18 to 21 is positive in the eyes of many. I believe this has created a new opportunity for companies to develop devices that are safe to use and nonaddictive.  Obviously, this is a hard task to due but through my eyes, I have seen the addiction across so many young adults, even in high school. I believe this opportunity is perfect for the customer looking to change his bad nicotine habits. I found this opportunity easily due to my daily experiences seeing young people using these devices.