My Exit Strategy

1) After 5 years with my business I intend to remain in the business and keep my portion of the parking garage. I would stay in this business until the parking garage were to be taken down. I would definitely pass it down to my children as well. Even after the parking garage were to be taken down, the value of land would still be there and would most likely have increased even more as Gainesville is currently in a growth period for its real estate. 

2) I have selected to remain as a partner in my parking garage because at the end of the day any form of real estate is a long term investment. Something like a parking garage will never really go out of style like some apartment building may experience with new competitors joining the market. Even if the parking garage were to be knocked down there is still value in the land itself. Additionally, a parking garage has little upkeep but is continuous income, so remaining in this market would be beneficial with extremely little work in return. 

3) I think my exit strategy has had some pull in my other aspects of the business plan. My mom is a realtor and taught me the importance of land and its long term investment value, so when thinking of my possible product land was first in mind. It also drew more importance because something like this can be reused time and time again as long as the land is still owned. 

Reading Reflection No. 3

1. What was the general theme or argument of the book?
The book I chose to read was "The Art of Social Media" by Guy Kawasaki. The general theme of the book is explaining how one can best manage their social media under today's pressures and expectations. Kawasaki gave multiple tips and strategies for both personal and business accounts, emphasizing how social media can be used as your platform to express yourself to the world. Kawasaki emphasizes how social media can be extremely beneficial and game changing in a company and individual's professional success.


2. How did the book, in your opinion, connect with and enhance what you are learning in ENT3003?
The book enhanced what I've learned in this class in multiple ways. The biggest connection between the book and this class is understanding who you truly are as both an entrepreneur and a product. In order to create your social media platform you must understand your best angle. Similarly in order to properly go about designing and marketing your product you must best understand your strengths and weaknesses and move forward from there. Just as an entrepreneur who best understands themselves and their products social media can be life changing.


3. If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
If I were to create an exercise for this class based on this book, I would have students create a fake social media account of their choice. In this social media platform the student would be responsible to best represent themselves with 5 posts. Since most pages people will only look at the top most recent posts, this shows the importance of every single post. Using Kawasaki's tips and tricks the students would have to most effectively create their social media platform.


4. What was your biggest surprise or "aha" moment when reading the book? In other words, what did learn that differed most from your expectations?
The biggest aha moment when reading this book was Kawasaki describing exactly how beneficial social media is. I didn't think social media had such a presence in the older generations considering customers like my moms age don't fully understand social media enough to base all their decisions on it. This however made more sense when understanding your customer base before making your social media.

Celebrating Failure

1) Procrastination tends to be my silent killer. This semester my procrastination definitely led me to fail. I was planning on running for president of my Panhellenic chapter. I knew the date of the election and I knew that I had to be in Gainesville on this specific date. The weekend before elections I went to buy my bus ticket back to Gainesville and every single bus was sold out. This was coming back to Gainesville the weekend after Thanksgiving break, I knew the buses would be packed and my procrastination made me miss the elections. This was a definite failure on my part. 

2) I learned that my procrastination, although may work in some cases and allow me to thrive will at the same time be my downfall. I learned that its better to get things done earlier if I am certain about them then to wait. I also learned that its important to prioritize tasks and that pushing important things off until the end may result in a major failure. 

3) Failure is definitely the least fun feeling to go through. It makes you question your personal abilities as well as your future. Although failure is extremely unpleasant it also builds character. If it weren't for failures the successes wouldn't be so enjoyable and exciting. Failure also definitely shows you what character flaws you need to work on. At the end of the day without failure I feel that you cannot truly grow as a person and develop into your best self. I think after this class specifically I would take the same risks and make the same decisions that I would previously. If anything I feel like this class has taught me how to better prepare for big decisions and the complete thought process I should be having when making big decisions. 

What's Next?

EXISTING MARKET

1. After the completion of this parking garage, and once customers are using this garage we can begin to technologically advance the parking garage. Features such as: spots available screen, solar panels, and self cleaning features can all raise the value of the parking spots and increase profits. This project can also include scooter parking which will generate a lot of profit for only a small piece of land of the garage.

2. The first person I interviewed said that the next venture would be to find a new piece of land to build another garage on since parking is such an issue. The second interviewee said that a market like this is not really something that can be expanded upon but rather perfected in itself, she suggested that the garage be made as big as possible so as to promote the most profit. The last interviewee said also said that this market is not necessarily something that can have a next venture. Regardless of what they said they all agreed with my technological ideas and said this is the perfect way to revolutionize the parking market. 

3. The next step after this parking garage is not very clear. The most obvious next step would be to introduce technology into this parking garage and allow for new innovations that will draw a wider customer base to use this garage. Features such as solar panels and parking spot availability screens can both draw customers who are environmentally concerned, students who do not like to waste time in search of a parking spot, and for those who do not want to have to be stuck parking on the top floor without a roof.

The second most obvious path to take after this venture would be to open another parking garage in the surrounding Gainesville area. This does pose its challenges as this would require finding a new lot to build on that will also have a sufficient amount of possible clients. However this market is constantly expanding as more students are accepted and have vehicles to park. 

NEW MARKET

1. This same parking garage can also be brought to a different city in total. This same company who builds this garage can go to Miami, a extremely technological and advanced city with a melting pot of clients.

2. This same parking garage could be built in Miami and still be perfectly welcome. In this market having more technology and client friendly features, such as paying with apple pay or venmo.  

3. The first person I interviewed loved the idea of having a parking garage built in Miami, she said there is never any parking and most of the street spots that do exist require payment in coins which for most people is not easy. The second person I interviewed also loved the idea of having a garage being built in Miami but stated that given the tightness of the city might not be the most attainable. Both interviewees, loved the idea of convenient payment methods and stated that this along with the need for parking will definitely generate the necessary income after project completion. 

4. When thinking about parking problems, the second place that comes to mind behind Gainesville is Miami. The city is extremely overcrowded and constantly in need of more parking. My worry that the tightness might play a challenge into finding a lot was confirmed with my second interviewee and drew my attention to the need to find a lot before any more building is done. In addition I felt extremely reassured with the love for technology in Miami after interviewing both participants, I know that the need some people have to try the most new technology will draw customers in alone. 

I believe this market if approached in the right manner would be a perfect Segway from the market in Gainesville. This new market would prove the need for parking anywhere regardless of city size. I believe if a proper lot, which is the most important resource is found, that the rest of the necessary resources would fall into place and allow a steady income to flow in after project completion. 

Venture Concept No. 1

OPPORTUNITY

 The opportunity is here. The customer base is hundreds if not thousands of UF students and surrounding campus residents who are in need of more parking spaces. The customer base is however not limited to these residents and students, but can go as far as to include traveling guests and UF faculty and staff who do not live in the surrounding area. Due to the drastic increase in apartment complexes, the amount of people in one area is too large and is surpassing the available parking spaces. Geographically the market is condensed to the Northeast portion of the UF campus. Currently customers are having never ending issues, such as getting towed and receiving tickets for trying to park in areas that are not allowed. They are loyal to their current parking spots if they are lucky enough to have one. Parking is something that cannot be avoided if you have a car and even if you don't have a car, knowing that more parking will become available could motivate even more students and customers to bring their cars and essentially motivate even more business. This window will be open until another investor claims the land for the designated parking garage. 

INNOVATION

The idea of a parking garage itself is not an innovation. However in this area where parking seems to be almost obsolete it can be considered innovative. There can be potential room for innovation if the investor and builders decide to make the parking garage a smart garage and allow for different features to technologically advance the garage. Innovations such as a screen at the bottom showing the number of current available spots can help customers when they are deciding to park or not. The profit in this parking garage will come from the sale of parking permits either for a semester or even hourly depending on how the investor decides to sell. Hourly rates can go anywhere from 50 cents to 5 dollars an hour and to remain competitive, semester prices should be anywhere from $120-160 a month. 

VENTURE CONCEPT

This parking garage would substantially help the parking issue in Gainesville. Building this garage, would not have customers switching from one brand to another but rather parking in a more convenient location. Customers will choose this product because of its convenience and price point. The competition is not direct but geographical. The only weakness and possible obstacle is the Standard parking garage which is in close proximity, however these parking spots are only offered to residents of the standard. Customer support and experience is essentially not an issue because as long as a parking garage offers parking at all times it is serving its full purpose. The best part about this parking garage is that once it is built the true work is done, it will be sitting income as people pay for their spots and after this step the business portion is done. 

UNFAIR ADVANTAGE

Given both the location and customer base of this potential project, the amount of advantages building this parking garage have is truly unfair.  The location of the potential parking garage is by far the most useful resource. This lot has the perfect location and surrounding businesses to ensure a full parking garage and plenty of potential income. In addition to this tangible advantage, this product also has community support and a ready client base. Before even beginning this project, it is safe to say that the community and clients are ready to begin this project. This is extremely important when convincing investors to invest in this project. 

NEXT VENTURE

Beyond the parking garage, this project can be extended even further to open the first ever scooting parking garage. In addition to this, the roof of the parking garage can be converted to potentially have solar panels and used for energy across campus. In addition to the solar panels, these parking garages can begin to expand across empty lots in Gainesville, as every time a new garage is built a more efficient route to building can be found. 

NEXT 5 YEARS 

Assuming I go ahead and launch this project, I don’t think the life goal I had in mind would change. Since a young age I have wanted to be a plastic surgeon and having the money readily available will make it even easier to attend medical school. That being said having this hands on business and entrepreneurial experience will definitely be to my benefit in 10 years and beyond as I hope to open my own practice. I think if I were to launch this project I may even continue to dabble in investments that are essentially sitting income. 

Your Venture's Unfair Advantage

Resources:

1. Location 

• V: extremely valuable, this piece of land would be able accommodate a wide range of students covering a wide area
• R: this is one of the few undeveloped pieces of land left in this area of Gainesville 
•  I: considering only this land is up for grabs, it is not going to be very easy to imitate
• N: there are no other options to this land for this parking garage 

2. UF Construction School 

• V: this is an extremely important possible asset. the construction school can be the working force behind building this garage and would be benefitting the current students who get to work on this project
• R: being that not many places have a construction school near by this feature is extremely rare 
•  I: there are other surrounding construction companies capable of building this garage but no others will also be benefitting UF students
• N: nothing can substitute the dedication and desire to learn than college students 

3. Customer Knowledge

• V: this is very valuable because without understanding the true need of the customer base then the urgency is gone
• R: this is not rare among college students but among common investors and construction company having a solid customer knowledge for college students is rare
•  I: not easy to imitate unless paying attention to the most minute details for a prolonged period of time 
• N: this is not able to be substituted, knowledge of the customers is extremely beneficial 

4. Possible Investors

• V: very valuable without investors and the funds to make this happen it won't 
• R: given that the Gainesville area is in a surge for building and growing investors will be more likely to invest
•  I: cannot be imitated an investor is irreplaceable 
• N: cannot be substituted for anything because without the funds to build the project will not begin

5. Time

• V: especially in today's time where everyone seems to always be on a time crunch, time is extremely valuable 
• R: rare among college students but when there is time to complete a task its rare 
•  I: cannot be imitated because full attention is not replaceable 
• N: time is necessary to complete this so there is nothing that can stand in place of it 

6. Dedication

• V: remaining dedicated and focused will allow this project to be completed as soon and safely as possible, these attributes are extremely valuable 
• R: it can be hard to find a team that is extremely dedicated and set on one common goal 
•  I: this quality cannot be imitated but rather perfected over the years 
• N: having a dedicated team cannot be substituted and if not present will result in shoddy procrastinated work 

7. Community Support

• V: this is extremely important in a new and big project, through the community supporting the project all obstacles will seem easier
• R: rare but given the product the community should be accepting with open arms 
•  I: cannot be imitated, community support leads to a happy project 
• N: cannot be replaced for any other quality or ideology because when a community stands together it is unstoppable 

8. Customers in Line

• V: this is very valuable to be able to persuade investors more easily and have the teams shoot for a goal as there are customers desperately in need of this service and ready to pay
• R: in a college town where students tend to not want to spend money, having these customers ready to pay is very rare
•  I: cannot be imitated by another service because there is only one solution to not having parking
• N: irreplaceable because until there is more parking spots allocated the problem will still be there

9. Technology

• V: very valuable because how much easier it makes the project and marketing for the future product 
• R: although its not necessarily rare having technology to support a project is extremely helpful 
•  I: cannot be imitated by any other feature because technology is specific to every scenario
• N: irreplaceable because technology has made almost every daily task tremendously easier

10. Employee Base

• V: having an employee base that is eager to work and in need of money is extremely valuable 
• R: it is rare to find enough people to be able to complete a project in a reasonable amount of time
•  I: cannot be imitated by any other capital
• N: although technology can cross over the lines of employment nothing can replace the human workforce

The top resource would be the land and its location. Given that Gainesville, especially around the UF campus area has been expanding and growing exponentially over the past few months, locking in and saving this land for a parking garage is the most valuable, rare, least easily imitated, and nonreplacable of all the resources. Without the land and location none of the other resources truly matter. 

Elevator Pitch No. 3

2) A reflection on the feedback you received from your last pitch. 

Most importantly from my last pitch was the attire, my outfit for the last video was the most clear criticism. I was really surprised with how much I moved in comparison to others, I don't realize how much I move my hands when I get nervous. Also the speed of my last pitch was way too fast, some parts were slightly hard to understand.

3) What did you change, based on the feedback?

This time around I made sure to wear a jacket which was a huge improvement. I also made sure to keep my hands planted in front of me while speaking. This change allowed for the pitch to be less distracting. Lastly I didn't read as quickly which allowed for the more important points to be emphasized.

Reading Reflection No. 2

1) What was the general theme or argument of the book?

I selected the book "How to Fail at Almost Everything and Still Win Big," written by Scott Adams. I chose this book because of how relatable and growth inspiring it sounded. The general theme was that no matter how many times your ideas or products may fail, this failure is never supposed to become your identity. Elaborating on this theme is the ideology that even in what may seem like the worst moment, there is always a light at the end of the tunnel. 

2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

The book definitely had a strong correlation to ENT3003. Throughout every assignment we are to think about the obstacles and downfalls that every project could have and potentially become a failure. In addition to taking note of these possible failures, we also peer review and give constructive criticism to our classmates. Both of these tactics are a way to help prevent each others' failures and to allow growth, just as this book suggests. The ideologies cross paths when we take the constructive criticism and make ourselves greater with it. 

3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

If I had to design an exercise for this class I would focus on another broad topic in the book which is passion. Scott Adams spoke very intensely on the importance on differentiating our passions versus what were good at. I think to best understand this differentiation would  be for everyone to fill out a venn diagram containing talents, passions, and their similarities.

4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

The biggest takeaway I had from this book was when Scott Adams made the differentiation between having goals and having a system. Prior to reading this book I overlapped these two concepts, as in order to fulfill my goals I must have a system in place to reach it. However when Adams said that a goal is something that is reached while a system is continuous I was able to understand now how my ideology can actually hurt you in the long run. 

Growing Your Social Capital

1) One person must be a domain expert in your industry. For this interview I spoke with my mentor Dr. Rainer Sasche who is a prominent plastic surgeon in the South Florida area. Prior to opening his own practice, he was the head of Holy Cross hospital and has served on multiple boards for the American Plastic Surgeon Association. I found this doctor through one of my aunts who has had medical procedures done with him in the past. After she went to him I contacted him to possibly shadow. I have shadowed him multiple times in the past. By shadowing him I have learned not only many things about the medical field, but also about the proper way to conduct patient interactions. 

2) One person must be an expert on your market. For this interview I spoke to a retired plastic surgeon who is no longer practicing. Her name is Dr. Aida Raez and she is both my mentor and go to for life and doctoring questions. I came in contact with Dr. Raez during one of the medical mission trips. I shadowed her in the general surgery department and became best friends within moments. I consider her my second mom and gain a better understanding what it's like to be both a mom and surgeon at the same time. I contact Dr. Raez whenever I am in need of help academically or medically. By having Dr. Raez in my life I feel like I am more confident in entering this profession. 

3) One person must be an important supplier to your industry. For this I interviewed someone in the medical devices industry. His name is Ramiro Morales and is a medical sales rep, as well as husband to a Obstetrician and Gynecologist. I came in contact with Ramiro through a medical mission trip that I have attended for two summers. After this medical mission trip I remained in contact in order to learn more about the up and coming medical surgical techniques. I contact him frequently as he updates me on the newest and latest in medical technology procedures. He does not necessarily expect anything in return other than my respect and attention. By remaining in contact with him I believe I am gaining a lot of insight and knowledge on the market and what doctors are being presented every day. 

Finally: Reflect. After realizing how connected I already am in the medical field, I also realized how lucky I truly am. Within each of these interactions I have gained more insight in the field and grown as a person professionally. I do not think I would still be on this path and have the amount of comfort that I have if I had not met my mentors. 

Idea Napkin No. 2

1) You. I am Kat Garcia. A junior at UF earning my degree in General Business Administration with a Specialization in Pre-Health. I am extremely personable and I am very good at problem solving and being innovative in times of need. I hope to attend the University of Florida College of Medicine and one day become a plastic surgeon. After enough years in the field, I hope to open my own practice. I believe my background in business will be extremely beneficial to running my practice. As I have learned from various surgeons, they all regret not having more knowledge in the field of medicine. 

2) What are you offering to customers? As a plastic surgeon I will be offering the cosmetic and self conscious needs of my patients. 

3) Who are you offering it to? My clientele would be a large range. I can offer to older patients who are trying to turn the clock back or even for younger patients who are self conscious about a particular aspect of themselves.  

4) Why do they care? Customers will pay an insane amount of money for cosmetic reasons. Everyone wants to look and feel like their best self, this need to constantly be at your best is what will bring the patients to my practice. 

5) What are your core competencies? What would set me apart is my workmanship and patient bedside manner.

Overall I believe all my previous experiences and lessons will allow me to be both professional and respectful with all my patients. In addition, I believe wherever my medical school education takes me that I will learn the proper workmanship and techniques to successfully completing surgeries. On top of the medical aspects, I believe that my business background will allow me to properly conduct my practice. 

Since I was unable to finish the first napkin assignment I did not receive feedback, however I feel that I covered all necessary aspects of my idea napkin.