Ayla Adams | Entrepreneurship | University of Florida

My exit strategy would definitely be to sell my business in the next five years for a sizeable return. Although I love my business idea and the good it could do for people I will want to begin another venture which was still geared towards sustainability and conscious consuming. I have selected this strategy because I don’t want to be in control of an application. If I could start over, I would choose a viable product as my business venture. I believe my exit strategy has influenced the decisions I’ve made towards my concept in a positive way. I believe I now have a better grasp on the type of problem identifying I need to do in order to devise a viable concept which could eventually turn into a flourishing business. I’ve come to the conclusion that the application market is just too oversaturated for my liking. The next product I’d like to make will work to relieve environmental stressors, while also solving a problem for many consumers.

I failed a few times in this class this semester. My failure stemmed from disorganization and stress. There was a week at the beginning of the semester where I declared my links and assumed I was good to go for the week. On Saturday I realized that I had forgotten to submit my links for the assignments and therefore, I did not get the points for those assignments. I was really upset by this failure because I had done the work and assumed I submitted the links. I never made this mistake again because from making that mistake, I learned to always submit the links and triple check that they work. Considering this is my first semester at UF, I was aiming to do the best I could, especially because I know the courses I chose to take were less rigorous than the courses I’ll have to take in the upcoming semesters. I strive to do well in school because I’d eventually like to go to graduate school to continue my education, therefore I strive for a high GPA. I don’t handle failure well (extreme a...

What I Think Is Next: The next step in terms of products for my venture is the creation of an online place where conscious consumers can have proper discussions regarding toxic ingredients and ethical companies because I feel it is important for consumers to have a place where these discussions can be had. Existing Market Interviews: 1. The first interviewee stated that they believed this would be a good idea because they are unaware of a site that is dedicated to open discussions about conscious consuming. 2. The second interviewee stated that they already use a Reddit for these types of forums and discussions. Although, they stated they don't know too many people that actually still use Reddit like them. 3. The third interviewee stated that they thought my idea was good but that there could be a marketplace component which allows people to see “green options” in place of other common items which are not considered to be green. Reflection: I believe the online marketplace...

Opportunity: In an increasingly over-saturated market with millions of products and food items, it can be difficult for consumers to navigate the many items on the shelves of a grocery store. Daily people go to the grocery store and narrow down which items to purchase by looking at ingredient lists. This is extremely time-consuming as in many instances there are dozens of ingredients in an item. Many consumers are beginning to become aware of the companies they support, ingredients used, and the ethics of the company which is why there is a pressing need for something to help consumers navigate through these decisions effectively. Many conscious consumers, myself included, have been in need of an app that simplifies the process of conscious shopping. People who are committed to leading a life with minimal waste, ethical standards, sustainable materials, and protecting the environment commit to this lifestyle because it is apart of their morals and identity. I believe people would ...

Resources/VRIN Analysis: 1. Customer Service Expert: Having worked in the customer service industry for over three years, I believe I have ample knowledge in the customer service industry. This first-hand understanding of the needs of expectations of customers is extremely beneficial for someone starting a business. This is not rare because many jobs are in the customer service field so many people carry this skill. 2. Extensive Social Media Knowledge: Through the use of social media since the seventh grade, I believe I am very familiar with the inner workings of online ads and a superior social media presence. Many people in my generation have these skills because we attained them very young. While many younger people have these skills, there are many older people who are still not completely comfortable with using various forms of social media. 3. Business Major: Through being a business major I believe I take a relevant course load to begin a business. This is not rare as there are ...

The feedback I received on my last elevator pitch was extremely positive. I had edited and revised my second speech from the first speech and thus, my peer agreed that it had improved significantly. I was able to effectively illustrate my app and its uses. I would say that this speech was almost fully memorized and that I was much more confident and fluid in this third try. Without even trying, I had already remembered the key points I’d made in previous speeches, and learned the key points I wanted to reiterate within the speech. I stood in a space that gets a lot of light in my apartment because I felt that the lighting was a bit dimmer in my previous pitch. This time I tried reiterating my points just a couple more times than in my previous pitches. I feel this reiteration really clarifies the use of my app and the number of people it could prove useful too. I hope this final pitch I was able to get the uses of my app out effectively and professionally.