20A - Growing Your Social Capital

I talked to the scholarship and student loan guidance counselor at my high school Mr. Green when I went back this week. He was the only domain expert I could find in the area and provided me with some extremely useful information in terms of my idea. He said that the problem is that there is no one place to go if you want to find all of this information and by putting it in one place, we could save customers a ton of money and allow them and their families to be a little less stressed. He said that search engine optimization would be the best way to get my business out there because many search up solutions and are bogged down by useless results. Including him in my network will benefit me as he can give me insight about my service and where to find the right information 

I talked to a Wells Fargo Representative that came to Student Finance Group about the market and her own personal expertise and how I would go about conducting customer research. What they are doing is they are targeting college students to open up student accounts and even apply for credit cards so that they can begin to build credit for themselves. She said that because I am a college student, I am in the best position to conduct research because not only do I know what attracts others like me, but I am in the same position as my customers which would make it an easier plan to execute. We connected on LinkedIn and I may pick up a job their because of this new connection. She offered me the option of emailing her for help to build my idea which was very helpful.

This one may seem odd, but I talked to an Uber driver in Gainesville in order to fill the “important supplier to your industry” person. His name is Demetrius and has a 4.97 star rating. He has only been an Uber driver for 5 months and also struggles with paying off student loans. he fills this spot because he drives students in my industry around Gainesville in exchange for money. I pitched him my idea and he thought it was awesome. He said that many students come into his car and talk about how broke they are and how little money they have and he thought that if they had a little guidance, they would be able to have an easier life in his words. I connected with him on Instagram and I feel that he will be useful because he has had thousands of college kids in his cars all day and can provide a good census of what is going on and how people are dealing with their student loans since he has to talk to new people all day.

This assignment was extremely difficult. For one, it was hard finding the specific people that would meet each category but it did provide me a lot of useful information and connections for which I can build my idea. This experience showed me how much people are willing to help you with your ideas if you just reach out so from now on, I am reaching out if I feel that someone could help me with an idea. This is different from what I used to do, which is no networking whatsoever and not collecting information to reach out to them later.

19A - Idea Napkin No. 2

For one, when I am interested in something, I make it my number one goal to see it through and ensure that it is successful which will help me make this idea successful to. Also, I have a interest in giving back and helping the greater good and this idea is something that combines those two talents which is why I pitched it to begin with. I have experience in student loans and have read enough on them to have a pretty good idea of how they work and how one can make them work for their lifestyle. I see this business playing a large role in my life seeing that it helps me give back to the world while earning an income and saving others thousands of dollars. I am offering customers a way to navigate their student loans through 24/7 calling for a personalized plan that works for their exact financial situation and time plan. This service is open to anyone that is applying for or currently has student loans that they have been struggling to pay off and need assistance with to make ends work. All of my customers are having financial troubles when it comes to their plans or are just trying to optimize their plan and save some more money.These people care because these student loans are putting many out of houses and unable to move forward in life because they are bogged down by these payments they are forced to make. Most of the time, they are being ripped off as well. This idea could potentially save them thousands.My core competencies are that I am dedicated to seeing this idea come to life because I also have to struggle with these student loans. I need to do everything that I can to pay off these loans before I graduate or else I will have to deal with them just like everyone else and not be able to truly excel right after college. I have this vested interest that makes me want more than anything to make this idea work.

I feel like these elements fit together beautifully which makes it even better for the idea. I want this as much as anyone else and there is a large group of people that would happily pay a small fee monthly to save thousands and thousands of dollars and time. This, paired with the fact that I have to deal with it too gives me a vested interest to make it happen. It connects all my interests and allows me to make a living as well.

I was not given any feedback other than that it was good that I have a financial background and I should pursue an MSF degree which I have taken into account and plan to do to move my future and education forward.

17A - Elevator Pitch Practice! (Part 2!)

Still working on the timing and slowing down, but it's getting better.

Ollie gave me great advice and I further attended to my pitch to fix the problem with forgetting about the price. I also made sure I kept eye contact and tried to be a little more dynamic rather than standing completely still the entire pitch. All the advice given was entirely useful with no silly or random advice.

18A - Create a Customer Avatar

I would describe my customer avatar as a college freshman that has just gotten into college. They don’t have a car, they don’t have much money, but they are looking to get an education to further their career and need to find a way to pay for it. They came from a family that didn’t always have money but was focused entirely on their child going to college. They were able to put up enough money to last a year, but they were’t able to make the rest of the money so they had to just hope and pray that it would all come together. The student doesn’t know much about student loans so they pick any random company and hope it works out and that the company will take care of them, however they are being screwed and they don’t even know it. I have in common with the avatar that I had to look for a way to pay for college and could not find any good information on the student loan websites. I was lucky to have gotten bright futures but not many others are lucky and so my service would help those that are less fortunate when it comes to paying for college. I do not like to see people get screwed for no reason, and this is one of those situations where many are getting screwed.

16A - What’s Your Secret Sauce?

This was a particularly difficult assignment because I feel that there are many generic responses and it is really hard to differentiate from the main qualities that everyone says. I made an effort to be different but still had some trouble.

For one, I’d like to seem myself as hyper-productive. If I am not always doing something that is productive or beneficial to me and my time, I don’t feel good doing it so I tend to avoid anything that isn’t beneficial. In that way, I feel like I set myself apart because I am willing to stay focused because if I don’t I can’t even enjoy the day.

Second, I am dedicated to anything that I find interest in and seeing that this project was an idea I found interesting, I am willing to give it my all to make sure it becomes successful.

Third, I am level headed when it comes to stressful situations. I work well under pressure and am able to perform even when it becomes difficult.

Fourth, I am extremely organized and I feel like especially with a company dealing with very specific services, you have to be organized to ensure that you are giving the most personal information and ensure that that information is accurate.

Fifth, I am confident and although that may not seem beneficial at first, it is something you need to have especially when going into an entrepreneurial venture where almost everything is uncertain and everything is stacked against you. My confidence in my abilities will help me weather the storms when they come.

For the purpose of this assignment, I conducted the interview, and then recorded an overview to make the information more concise.

https://youtu.be/uzusMVH_7MI

Amanda’s interview went well and was focused mostly on setting goals and achieving them. I was happy to see that other’s thought of me as the person that creates goals and sticks to them through thick and thin. Lyndsey discussed my work ethic and confidence which she regarded as key topics that an entrepreneur must align themselves with. She also said that I was open minded which was nice to hear, especially because an entrepreneur must be always ready to pivot or change things in order to be successful. Asha discussed being dependable which was different from the rest of the interviews. She also said passionate which is one of those generic entrepreneur traits. My mother defined me as a constant learner which I would think is vital to be an entrepreneur. Her interview was the longest coming in at 14 minutes. My father called me detail-oriented and resourceful which are crucial to becoming an entrepreneur. He also defined me as a risk-taker which is an absolute requirement.

I was happy to see what others said about me and I would agree with most of them to some extent. I do not think I would change my list except for maybe adding risk taker because I feel like that is mandatory to being a successful entrepreneur.

15A - Figuring Out Buyer Behavior No. 2 Submit Assignment

Based on my extensive interviews with Brian R., Julia Cesare, and Matthew W, there didn’t really see to be any alternatives other than scouring the web for the answers to their questions or calling up the companies that are running their student loans and trying to get some information from them. They all agreed that calling the student loan companies was incredibly difficult because they did not provide adequate information needed to determine how much they should be paying and how long they should be paying for it. The main issue was the people on the phone did not want to take the time to delve into the specific client’s information and wanted to just give them general answers to move on to the next call. The other alternative was to look online which did provide more information but still was not personalized to each person’s specific plan. They did not buy anything to fix this problem and instead just hoped they were given the correct plan and information. They did however get student loans so that they all had in common. In terms of the student loan, none of them really felt good about their purchase and often had many unanswered questions which is perfect fo ray service because my service would fill this hole in the market. I would describe the segment as one that has virtually no competitors but would be highly sought after by consumers in order to make their lives easier. Ultimately, I feel that my initial service still stands!

14A - Halfway Reflection

If I were to tell someone who is taking next semester’s course, I would encourage them to enjoy the class and really take as much value from it as they can, especially if they are trying to pursue something entrepreneurial. I have developed a schedule of watching the lectures and determining what I think is valuable and taking notes on that and I feel like that is vital for keeping up with the work. I did feel like giving up when I got a .2 on one of the Cupcakes. I really watch these lectures and take good notes, but sometimes the Cupcakes are tricky and almost meant to trick you in a way that I don’t totally think is fair. It also makes it tough when you are required to select multiple answers and you only miss one so you don’t get the credit. However I pushed through and still continue to write my notes in a way that will benefit me and help me get the max amount of points. This was mostly attributed to low Cupcake grades. For tips, I would definitely say to watch the lectures but also take notes to ensure that you are understanding the information. Sometimes the Cupcake questions don’t always seem relevant to information that should have been absorbed and kept, so it is important to just take notes on everything possible rather than what you feel is important. Another tip I would say is to push though regardless of the Cupcake grade you may get. It does really suck, but it’ll teach you to study a little harder for the next one. My last tip would be to try to apply the information to your life as much as possible. I have found myself to really try to point out everything that bothers me in some way and see it as an opportunity and I feel that if someone is able to incorporate that into their daily lives, they will eventually find a problem that they would like to pursue more deeply and it could turn into a business venture for them.