Reading Reflection No.3

Book Title :

To Be Loved (Berry Gordy)

1. When I read this book, I was surprised that how could he created many musical so
   perfectly and having money. He has business troubles with Motown and probably had
   a difficult time to sell the company. However, I respect him because he try to change
   the mistake to chance. He fail a lot but finally made an success.

2. He has creative thinking and innovator. He knows what he has to do for music
   business. It is important to know that lead something trand. He makes the music and
   many people love to listen his music.

3. I confused one thing that he is ready to sell the company. The reason why I confused
   is did not tell Motown and it makes me uncomfortable. I was involved emotionally too
   much in the book.

4. Which on is your favorite song you wrote?

5. The author has creative thinking that has different view from anyone.
   He did much effort to make good music and has persistence and perseverance.
   This is why he can successful in the music industry. It was impressed story and
   I really admire the author.

Venture Concept No.2

1) Provide, again, your venture concept description
    
 To provide my venture concept again, I believe that food industry will more increase.
For example, fast food will disappear and well-being food will take that place. Well-being food is most easy and good way to keep healthy. The opportunity for the market is unimaginable. In human life, we cannot exclude the food. It means every people in world will the target for customer. 

Innovation & Venture concept
Good nutrition food with fair price is core concept. I want to do my business for well-being food. To provide healthy food for customer, it is important to make good contract with farmer and provider. I will do my own business in hot weather like Florida, California or Texas. I will make an slush for milk with powder of grain or ape diet. 
Also, I will sell the product cheap so target for student who don't have enough money to buy expensive food. 

2) Provide a summary of the feedback you received from your previous venture concept description. 

When I check my feedback, most of feedback was positive. Some people said that it is great idea to sell a slush in hot weather and some are many vegetarian like well-being food. Also, they mention about price. Price point would perfect for student who don't have enough money. However, to make different menu is what I have to challenge.

3) Describe how you changed your venture concept, based on what you learned from the feedback.

I changed my venture concept because one of student give me a great feedback. He said that it will be more helpful for making different menu. I only mention about slush first time so I think about more menu to make well-being food. It is great advice to make a success on market. 

Final Reflection

1) Read through your blog from this semester. Recall all of the experiences you've had a long the way -- the highs, the lows -- the fun moments, and the moments of drudgery, and even the moments of dread.

Throughout the semester, I learned lots of thing about entrepreneurship. The most thing that I really enjoyed this semester is not afraid to talk strange people. For the assignment, I should do some interview and it is stress to me because to talk strange people is my dread moments. However, when I finished my work, I got a confidence to myself and this goes change to my fun moments.

2) What sticks out to you as the most formative experience? The experience that you'll remember years later? What was your most joyous experience? What experience are you most proud of yourself for accomplishing?

The most formative experience was to complete this course. First time I start this course, I am really afraid that I can make it. It has some interview assignment, lots of writing and reading assignment. I am foreigner student so really afraid of using English. However, T.A and other student give me an encourage to do it so I think I can come to end of my journey in ENT3003 course. 

3) At the beginning of the semester, I mentioned that I wanted each of you to develop an entrepreneurial mindset. And we repeated the mantra -- I am an entrepreneur. Now, at the end, do you see yourself as an entrepreneur? Do you think you have moved closer to developing an entrepreneurial mindset?

Thanks to professor, I can definitely say YES. The most important things in entrepreneurship is confidence and passion. I learned both of things in this course and I develop a research and oral skill. Moreover, I can think about what entrepreneurship can contribute to society. It is also important to help people and try to make better world. 

4) What is the one recommendation you would make to the students who are going to journey down this path in the future? What would you recommend they do to perform best in this course? What would you recommend they do to foster that mindset?

I want to say for the future students 'Don't afraid to doing something'. I choose this sentence because I am using English for second language but I made it success for this course. This means every student can do it if they have littlebit passion and confidence. One more thing I want to say is 'Do not give up'. If you start something, you should see the final goals even it is not satisfy result. Challenge is important in our life. 

My Exit Strategy

I totally agree with exit comes at the end of the entrepreneurship process.

Here is my answer for exit strategy.

1) It depends how I'm doing in 5 years later. If my business gets bigger and succeed in 5years, I will keep going on business. It is great idea that pass it down to my children and maintain and change to my family business. I will also work for my own company for noting even I am retire.

2) I don't want to sell my company that I work entire of my life. If it is succeed or not, I will pass to my generation and make a family business. I selected this particular exit strategy because I want to get a responsible for what I did. It is great situation that I succeed and pass to my child but even I fail it is ok with also. I can give my child for challenge and they can feel the success by their own.

3) I had much influenced by this strategy. When I do an assignment, I get my feedback a lot. Also, doing an interview, I can learned how business works and process. It is important to know entrepreneurship before doing own business. It helps to think creative and get an responsible for what I am doing. Moreover, it influenced my growth intentions because it helps me to know what I really like and good at it.

Making It Real

I learned about many useful things in entrepreneurship during this semester.

Now, I wrote my resume for company to hire me.

Here is my Resume.

Thank you !

What's Next?

 Existing Market

Step 1: In my "The Amazon Whisper" exercise, I mention about the restaurant information app. I chose this because food industry will more increase than previous.  The fast food store will decrease and slow food will increase. People will find more clear and healthy food.

Step 2: Actually, I'm in South Korea right now so I cannot do an interview with English because they cannot speak English well. Therefore, I will write the interview which I did in Korean and transfer to English.

Manyoung Kim (The owner of Korean restaurant 'Mongshell')
Me : Hello, Manyoung Kim. Thank you for doing interview.
       I am doing a research for food market.
       What should we be doing that we aren't planning to do?
Manyoung Kim : We should prepare and studying the customer's taste.
                       It is important to know because food market has also trend.
                       If you don't know the trend, the restaurant will close soon.
Me  : Thank you for answer. Then, what customers might want next?
Manyoung Kim : In my opinion, recently, customers are looking for vegetable food
                      better than meat. They prefer chicken than pork or beef. Chicken breast
                      is most popular food right now. It contains high protein so it is good
                      for diet
.Shinyoun Kim (Manager in restaurant) : She emphasis creative menu. In the future,
                                                     many people want new taste

Hayeon Lee (The chief of Korean restaurant) : Try to make high quality but it must be
                                              cheap. People are not buying expensive food easily.

Step 3: Get a feedback from customers, many people recommends that doing
          something special. What it means that just do what I only can do. It contains
          that it requires characteristic and specialization. Then, it will growing my own
          existing market.


 New Market

Step 1: My targeting is young people looking for well-being food. 
             First, they want to do a diet. Well-being food is the most easy and fast way to do a
             diet. Many young people are doing a diet because of good shape. Second, they
             want to live healthy. Now the technique of medical treatment is developed so many
             people live long as one-hundred-years old. To live long for healthy body, food is
             most important. For poor country such as Africa, they usually starve because they
             do not have enough food. Therefore, they need well-being food for their health and
             basic nutrition requirement.

Step 2: I want to make different market such as try to sell the product cheap but high quality.
             Most of the food ingredients will be fruit and vegetable so it is important to make
             good contract with farmer and provider. It is important step because it depends to
             sell the customer with good quality of product.

Step 3: 

Dongyup Shin (reporter) : He recommend that food must be looking good. Therefore, try to
                                  make the food good shape. It will help that customer want to eat.

Narae Jang (traveler) : Advertising is important. Try to make advertise special. She
                                                                 recommend to advertise traditional Korean style.

Minsu Han : Focus on weather's food. For example, in South Korea we have 4 seasons.                     Therefore, it has each food to eat for each season. It will help to increase profit.

Step 4: 
I was surprised that many people think how to improve food industry. Now only for their own store but all of food market. It requires many effort to change the new market. I am so attractive food market because it has infinite challenge to success. 

Venture Concept No. 1

 To introduce my venture concept, it is simple and clear. I believe that food industry is important in past, current, and the future. To give a detail about it , there are trend for preference of food. Now and the future, I am 100% certain that well-being food will important in food industry. The opportunity for this concept, many people want live healthy and long. They might be doing the exercise, try to get less stress but it will focus on the food what they eating. It has strong advantage for geographically because food exist everywhere. For example, we can talk about the rich country as United of America. Now in United of America, fast food is serious problem. Even United of America is rich country, many people enjoy high calories food such as hamburger or pizza. In contrast, poor country such as Africa, they usually starve because they do not have enough food. Therefore, they need well-being food for their health and basic nutrition requirement.
However, many young people looking for well-being food. It has several reason why they are satisfying this need. First, they want to do a diet. Well-being food is the most easy and fast way to do a diet. Many young people are doing a diet because of good shape. Second, they want to live healthy. Now the technique of medical treatment is developed so many people live long as one-hundred-years old. To live long for healthy body, food is most important. Therefore, they are caring what they eat. The opportunity for this market is unimaginable. In human life, we can not exclude the food. It means every people in world will the target for customer. In my opinion, window of opportunity in well-being food is already start. Many people try to eat healthy and avoid fast food.

Now, to talk about my innovation in this industry is clear. Good nutrition food with fair price. I want to do my business for well-being resturant. My strategy for this business is try to sell the product cheap. Most of the food ingredients will be fruit and vegetable so it is important to make good contract with farmer and provider. It is important step because it depends to sell the customer with good quality of product. Mostly, food business are similar. However, my core competencies is the menu. I will do my own business in hot weather states like Florida, california or Texas. I will make an slush for milk with power of grain or ape diet. The price of product will not expensive. I might decide less than $4. The name of the store is also important because it should be easy to remember. Also, the place is important because it should be easy to find and easy to park. However,  it also has a risk. If buyer unmet need is menu, it has serious problem on profit. Therefore, to make the loss less, try to do an survey what the customer like and dislike. I will start the business in Gainesville first. The reason I want to start here is Gainesville doesn't expanding of food market yet. Also, there are lots of students and senior citizen that I want to target to sell the food. Why I chose the target for student is they have not enough money to buy expensive food. It is also why they buy fast food. I can get an advantage for price and taste better than fast food.

The three minor elements:
My "unfair advantage" is creative. The key point of grain milk shake is pouder. It has secret source that I only know. Also, I will make the food for Korea style in America so it will interesting. For my next venture, it will another menu for well-being. I will make the soup with dough which include vegetable. After five years with this venture, I want to be make a company. I want build the store such as poor country and try to give them food for free. It is my "next step" for the venture.