Reading Reflection Week #15

Vikram Akula: Business Basics at the Base of the Pyramid (Harvard Business Review, June 2008)

What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

·         Wow! The entire article renewed my faith in humanity. Although I consider myself well-read, I would consider this the most interesting and most inspiring of anything I have read in a very long time. I did not know this type of social entrepreneurship existed.

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

·         The entire article was confusing, but not because I did not understand it. I would probably use the word, marveled, as opposed to confused. I have never heard the term, micro-finance, except of course my personal financial situation has always seemed at micro-financial level. As I mentioned above, I consider myself well-read, so my confusion comes from my thoughts as to why don’t we utilize this in America? I work in an industry where I come in contact with HUD/Section 8 recipients, and I have often wondered why we don’t do more to insist they get off these programs and take ownership of their own lives.

If you were able to ask two questions to the author, what would you ask? Why?

1.    What were the reasons you decided to take this concept as your own? I ask because this combines social entrepreneurship with profit-based concepts.

2.    Why do we not utilize this concept in America? The reason I ask is relatively obvious – our welfare programs are broken. We need programs that help created responsible citizenship to ease everyone’s burdens and thus, creates success for all. Those who are on welfare/poor, can now take ownership of their lives, and those who work to support the welfare programs so grossly out of control, can enjoy the fruits of their own labors.

Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

·         Wrong? Hardly. I would love to just hang out to see a day-in-the-life. What an amazing idea and opportunity for all. This is what they call win-win. Capitalism works when the government leaves people to create their own success. 

Final Reflection: Week #15

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

o   I don’t have to read back to realize I dreaded leaving my home to go out into the “world” to do any of these assignments. Not because I am shy, far from it, nor is it because I have an aversion to speaking with anyone – but, frankly, I take online classes because I work in a high stress position that has me hiding out at days end. The reading reflection is a great tool, however, at this very moment I am dreading doing that final reading reflection.

·        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?

o   I would say my most formative experience for me was a type of “stepping back in time”, so to speak, and interviewing my old friend, an amazing entrepreneur, and finding out more about why he did/does what he did/does. He still has that entrepreneurial spirit, though tempered with time and by failures, both professionally and personally.

·        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?

o   In reality, I think I have always had an entrepreneurial spirit and this class just validated what I had always suspected. Not many days go by that I don’t dream of some venture. My only frustration is by the time I think I have a great idea, I move off that and onto another one. I don’t know if it is because I don’t take the time flesh out the napkin idea, or if it is that I don’t know where to go from the idea. I will say this class is amazing at doing just that – even though it seemed like huge moments of drudgery, it is ideal for developing a concept into a real business.

·        What is the one recommendation you would make to the students who are going to journey down this path in the future?

o   Be open-minded. You may have your career/life mapped out, and I salute you for being so proactive; however, don’t self yourself short. Go through the steps in this class and seriously consider what you learn.  

Ø  What would you recommend they do to perform best in this course?

o   My one recommendation would be take this class seriously. You might think this is just a class full of mind-numbing assignments, but even if you are not the entrepreneur-type, it is a great class that teaches creative thinking, networking and self-confidence. You have a bright idea, but how do you turn it into a successful business? This class is a great starting point in helping you see the reality of your dream.  

Ø  What would you recommend they do to foster that mindset?

o   Think outside the box (lateral thinking.) Don’t consider ways do things as they have always been done, but think in ways that others may not have considered. Moreover, blue-sky thinking, or open-minded thinking allows to consider the idea that everything is possible and you are not restricted by realities. 

      Well Done: Venture Concept #2, Week #15

    

     IDEA

·        Opportunity: On any given day, there are enough children missing cases that would be equivalent to wiping out an entire city. Some vanish with few or no details to help family members figure out exactly what happened. It not only takes a village to raise a child, it takes a nation to find the hundreds of thousands of missing children. 

·        Innovation: No only would we use DNA, Fingerprinting, and updated photos as well as other child missing alerts, we also have created a social media guide that shows parents how to use the community building powers of Facebook, You Tube, Twitter and email to help in search for a missing child. Moreover, we would create a child identification file that could easily be sent or obtained from social media that would include: DNA Swabs; current picture (taken every 6 months) and other demographics; fingerprints; Identifying marks; prevention and safety training to local communities, schools, and parent associations for parents and other volunteers; partner with Amber Alert to send current pictures to every smartphone within range of cellphone towers near where the child disappeared and classes in physical defense techniques to keep children safe from attack, abduction, and sexual assault.

·        Venture Concept: Finding the Forgotten: This search and rescue program will provide a coordinated, international response to the problem of missing children. The venture would partner with law enforcement and community agencies, along with volunteers to help bring our missing children home. Our social media guide would:

o   Uncover and leverage resources within parents’ and caregivers’ social network

o   Create leads for police

o   Provide parent with the solace and comfort that comes from knowing they are actively participating in the search and effort to being their child home

The social media guide helps build communities by harnessing the parents’ and caregivers’ extended social networks to:

o   Deploy more people to canvass locations for the child

o   Enlist searchers with the special training, such as retired detectives

o   Reach well-wishers who can supply meals to busy searchers and the family

SUMMARY OF FEEDBACK: I did not receive a lot of feedback in the realm of change, but rather supportive believe in the concept. The old Proverb, “It takes a village” speaks to the cultural context and belief that it takes a village to raise a child. We can only assume if it takes a village to raise a child, then it takes an entire community to take an active role in finding a missing child.

CHANGES: As mentioned above, I didn’t receive any feedback as to how to change the venture concept, however, I have added the social media guide since I scribbled out my idea on my napkin. Forget milk cartons. Finding missing children has gone high tech. Social networking’s aid in the quest to find missing children has proven a dramatic success. Facebook alone has over four billion users, and we don’t want to miss out on these opportunities to find children. 

Reading Reflection Week #14

What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

·         Although not a surprise, I did enjoy reading about the obstacles to corporate entrepreneurship and innovation. I was reading yesterday about how Amazon wants every employee to think like an entrepreneur. It is clear, when companies allow entrepreneurial behavior, employees are more engaged.  However, I would have been happier to read one of these chapters without the inclusion of global trade agreements.                                                        

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

·         Nothing was confusing per se in the writing of the text, just in its inclusion of some trade agreements and supposed benefits.

If you were able to ask two questions to the author, what would you ask? Why?

·         I know that there has been concern over the disparities regarding trade practices and policies and their different effects on men and women, where the difference of roles, responsibilities, rights and opportunities assigned to men and women by society. How would you tell women to be more aware of the gender differences in order to maximize the effectiveness of trade?

·         Today, Free Trade is about moving production from place to place based on the cheapest labor markets of the world. We know that it has evolved into outsourcing cheaper and cheaper labor. The main commodities are human beings who are put on the world trading block to compete with one another down to the lowest levels of wage slave and even child labor. How do we reconcile the fact when even if everyone was provided a free education and high tech skills, they are all still competing for the same jobs?

Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

·         I do not see value in organization such as the WTO and NAFTA. I am not saying the author is wrong and I am for free trade in theory, but I oppose many of the institutions and arrangements — from the World Trade Organization to NAFTA— that promote it in practice. I believe in free trade, but most of what we have is not free trade. It is regulated, managed trade for the benefit of special interests. That is why I oppose it. In fact, I will go further. NAFTA-style trade agreements are a little bit of free trade for select special interests (i.e. agriculture exporting companies, etc.), and a little bit of protectionism for select special interests (i.e. Big Pharma and financial service industries, etc.), used as the delivery mechanism to lock in a sweeping corporate rights agenda. Free Trade is not trade as presently practiced. Today, Free Trade is about moving production from place to place based on the cheapest labor markets of the world.

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Going For Google Gold Week#14

A discussion of your general approach and strategy to search engine optimization (SEO). What were some of the activities you did for each blog post to pursue SEO? 

·         Unfortunately, I was not able to get my laptop to find Google Gold, so I wasn’t able use that benefit. I did, however use key words to drive traffic. It was moderately successful, but not what I would have liked.

What were your keywords. How did you select those keywords? Did you change or refine your keywords through the semester?

·         Originally, my keywords were the post titles, but then I realized we were to use the Week#. After that time, traffic died down. However, having sold Verizon White Page advertising years ago, I do know one way to drive traffic is to use targeted key words. Moreover, not only do you use targeted key words, but you use synonyms for those targeted keywords.

How did you use social media to enhance your SEO efforts? What your your surprises or general impression of using social media to improve your blog's profile? Was social media generally receptive of your blog, or did it get ignored?

·         In order to drive traffic, I would immediately Tweet and Facebook my posts, along with inviting friends to view it. Had I had time, I would have then Google + share it on my blog in couple days after my first post with some variation, thereby doubling my traffic. This might sound a little like spamming, but it does work. I would send my original post months later with the label – “this still matters”.  

What was your most "viral" post? In other words, which post obtained the most traffic? Why do you think?

·         I never really had what I call a “viral” post, but I would say my Napkin Idea#1 got the most views, and revisits. I would say it is because my idea was something that stirred the soul – finding missing children.

Finally, did you make it to the first page of Google results for your keywords? If not, what page of results did you make it to?

·         No, I did not make it to the first page of results. It is clear just entering ‘missing children’ into the search engines results in pages and pages of missing children sites. So, in the future, in order to stand out, I would need to utilize what I have learned here to bring my site to the surface. Next time, I would find a synonym of my targeted keyword, identify the ones with high search volume for my article and then make sure I use it in my content. This would help others find my content without having to use that exact word.

Very Short Interview Part 2 Week #14

My questions for my entrepreneur were as follows:

• What three pieces of advice would you give to college students who want to become entrepreneurs?
•  What would you say are the top three skills needed to be a successful entrepreneur?
• What would you tell college students to do differently that how you began your venture?

From where I am today, I can see more clearly – sort of as one standing on the shoulders of giants – I can see further and clearer because I have the experience and knowledge of those gone before. My entrepreneur expressed how important it was to create a personal need because he believes an entrepreneur’s personal and business goals are inextricably linked. I can see how most every student in this class presented a venture based on a need. My entrepreneur, Jamie, also defined “uncommon sense” as an important skill to one to become an entrepreneur. I was a little surprised initially, but now understand that “uncommon sense” mean that you are flexible and adaptable to new circumstances.  Again, an entrepreneur must be able to adapt quickly to new ideas, changes, and failures. Jamie also told me that if you have a vision and passion, you just find a way.  Since that first interview, I have grown to have a more entrepreneur spirit and attitude.

Jamie has 10 children, and is off to visit a couple of them in Oklahoma, so we were not able to meet face to face. However, he was gracious enough to respond to me via email for my follow-up interview:

1.      If you could start your career over again, what would you do differently?

a.       Spend more time with family and not have been so driven. My venture basically cost me my marriage. (However, he has 10 children and gave them an amazing, upper-class home and upbringing, what it did to his family is tragic).

2.      What are your ideals?

a.       Jamie said he wanted to be faithful to God in his everyday life; he believes in the Golden Rule – do unto others, as you would have others do unto you.

3.      What is your favorite aspect of being an entrepreneur?

a.       Not having a boss. I am a free spirit and want to be able to work as hard, and enjoy life as much, as I can afford. Being in charge of my success is invigorating, although scary at times, it can afford you a great lifestyle and is very rewarding.

I have always been intrigued by entrepreneurs, but just could not seem to get myself from an idea to a concept to a plan. In this class, I believe I have more knowledge, skills and abilities to truly become an entrepreneur if that is my dream. When I spoke to Jamie this time I felt he was more opened and reflective, and because I was able to ask some questions that made him dig deep into his soul, it gave us a different type of connection that we have had all these years. I felt Jamie believed I understood more of what he had experiences, both good and bad, and could relate somewhat with his life. We have always had a connection, first as our children became dear friends, and then when we both lost daughters. But, now, we could relate on a level unlike any other and not all entrepreneur let people into their inner thoughts.

The assignments interviewing my entrepreneur reminded me that you never really know what goes on inside the human heart. Are they lonely in this venture, do they have anyone they feel they can truly share their hopes, dreams, goals, fears and failures? 

Reading Reflection Week #13

What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

n  The biggest surprise to me what the amount of money Facebook raised. And as it turns out, there is concern over the overpriced initial offering. Moreover, the fact that Facebook’s stock price was introduced at over 100 times the historical earnings versus Apple’s stock price – which in itself was introduced at over 14 times the historical earning, is shocking. Nonetheless, regardless of the jumpstart, since opening day, the eight-year-old company has lost approximately $25 billion dollars.

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

n  In response to this question I almost wrote - “All of it,” but that isn’t true. There is a reason people hire business analyst. I could say that valuation and analyzing procedures of a business would be confusing, but that is only in this context. If we were working with our own ventures, walking through the steps of what might happen, it would be clearer.

If you were able to ask two questions to the author, what would you ask? Why?

1.    The only question I could come up with based on this chapter, would be how to overcome the lack of management depth in a new venture. Some people are wanting to jump into their own venture, but don’t have the depth or skill that management needs in order to succeed. However, small ventures can’t always afford a manager that might have the needed depth and skills, knowledge and abilities. How would one fill those gaps? The reason is clear – if you want to succeed, and if this is an area that could be a shortcoming, we would want to fill the gap.

Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

n  Of course, I cannot disagree with something for which I am not an expert (or at least not without making myself look ignorant).  I cannot tell you if what he is saying is correct, albeit, it appears to me that most of what he has described in this chapter is on target with what needs to be analyzed for a successful venture. 

Celebrating Failure Week#13

The quote by Thomas Edison is one I have repeated many times to myself, as well as to friends who are experiencing failure. In fact, to go along with your picture of baseball, the great Babe Ruth who was famous for hitting home runs, but he also held the record for the most strikeouts – until another baseball great broke the record – Mickey Mantle. Ruth’s mantra was: “Every strike brings me closer to the next home run.” I have spent my life with that quote seared in my brain.

Tell us about a time this past semester that you failed

n  I didn’t listen to my adviser. I was told that two courses would be sufficient for my first term at UF, but I thought I knew better – thus, I have struggled to get all my assignments completed, a position in which I have never been. In fact, I haven’t done many of them because I put myself in a situation that made me choose between assignments from different courses.

Tell us what you learned from it

n  Listen! It would not have hurt me to only take two, and then once I got into the semester I could have determined at that time whether I could handle a full time job along with 12 credit hours at UF. Instead, I did it “my way.” I decided to take 12 credit hours and if it was too much I would back it down next semester. Wrong decision. I learned that instead of listening to my adviser and been proactive, I am now in a reactive state (more like panic) as the semester comes to a close.

Reflect, in general, on what you think about failure

n  Michael Jordan said exactly the way I feel about failure: “I missed more than 9000 shots in my career. 26 times I was trusted to take the game-winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.” There is nothing fun about failure. What I have learned over the years is failure is my teacher, not my undertaker. Failure has delayed my success, but not defeated it. Along my journey, failure has been my detour, but never my dead end. I have stumbled, and gotten back up. What happened yesterday should no longer matter except to learn from it. Life always offers you a second chance, and it is called tomorrow. As Scarlet O’Hara said in the last line of the Civil War novel, Gone with the Wind, while thinking of ways to get Rhett Butler back: “After all, tomorrow is another day.”

So, now I have to get back on track and move closer to my dreams and goals. After all, tomorrow is another day (but I have assignments due today!)

My Exit Strategy Week #13

 Identify the exit strategy you plan to make

·         Because my venture is associated with missing children, I don’t intend on making my first million with the organization. Moreover, I don’t expect to sell the venture as I would eventually allow it to be in the hands of my children, who feel as passionate and strongly as I do about the plight of missing children. I don’t believe I would just exit this venture, except for age or illness.

Why have you selected this particular exit strategy?

·         As you can see from above, I don’t plan on doing an exit, except for age or illness, but would rather pass it on to my children. Because this is more a mission than business, I would never try to get rich off the tragedy of a lost child.

How do you think your exit strategy has influenced the other decisions you've made in your concept?

·         I chose this venture, not for the profit or easy exit strategy, but for the purpose of making a difference in the world. Growing up in foster homes gave me a keen sense of what might happen when a child is separated from their family. What has driven me more than anything is my friend’s daughter who has been missing for over 15 years. Although I lost a daughter who was killed by a car, I cannot imagine having a child missing, without any sense of where to find them. My exit strategy hasn’t influenced where I might get resources, but my passion and zeal for missing children – for all children – is enough to catapult me into action. I am currently a Guardian ad Litem, and already work with neglected, abused, and abandoned children – somewhat of a preventive measure of missing and abducted children. 

Reading Reflection Week #12

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

·         I did not come across anything that as surprising to me, nor something that stood out as different from my expectations. I will say that what did NOT surprise me was the Fab Four of innovative growth. As the textbook describes, they are in a class all their own.

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

·         Nothing was confusing to me, however, what I do know is that trying to transition from entrepreneurial to manager or vice versa is confusing! I know that the leadership/manager balance is extremely difficult to achieve, so it only stands to reason the critical entrepreneurial/manager balance must be just as difficult. This balance is one way these Fab Four have stood out from all the rest but have failed for lack of innovation.                                                                                                                                                              

3) If you were able to ask two questions to the author, what would you ask? Why?

1.    How could a company or a venture achieve the same level of success as the Fab Four? I would ask this question because it would be the secret to the same type of success.

2.    As a piggyback on the first question, I wonder if this type of success can be taught, or is it innate. I wonder because that same type of question – Are leaders made or born – has gone on for centuries.

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

·         Nothing the author explained in this textbook could be considered wrong in my opinion, as I do not know enough about Strategic Entrepreneurial Growth to critique his writings.