Meeting My Customers - Customer Interviews #2

As my entrepreneurial path continues, I see that challenges makes us dig deep into what we are really looking for. In the past interviews, I was able to find that there is certain discomfort with the RTS Smartphone Application and people showed that something could be improved. Even though the results were not the expected, I found out that two out of five students that live off campus would find my entrepreneurial opportunity as being useful. But after analyzing the results of the past interview and after reading the comments of my classmates, I realized that my objective should not only be focused on notifications that could help you manage your time and get to the bus on time. I figured out that my essential objective should be to provide the best transportation service in Gainesville, focused on facilitating the students and the citizens with notifications that could help them manage their time according to their needs.

In this case, I wanted to ask some other questions that can also give me some feedback regarding the service of the Bus (including the driver and the cleanness inside the bus). My main potential customers are still focused on UF students and I asked the following five students the following questions:

1.       Do you go to UF? (see if they are students)

2.       How do you get to your class?

3.       Have you ever been late to the bus stop? Tell me about that experience.

4.       Do you think that the service can be improved?

5.       Do you find the RTS App. Helpful?

After looking at the results of the interview, I see that the unmet need is still there, but that I still have to work on my questions in order to have the answers I am looking for. I feel that I am getting closer to the real unmet need, I just have to keep working and interviewing potential customers. I feel much more confident with respect to the previous interviews, but I know that one of my weaknesses is on asking the right questions and I have to work on that to have better results.

Week Five Reading Reflection - Assessment of Entrepreneurial Opportunities

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?

What surprised me the most about this chapter was the description of the three major cause for failure on new ventures which are based on the following:

•      Product/Market Problems
•      Financial Difficulties
•      Managerial Problems

  I was not aware of this components and I thought that failure was common in the first stages of a “new born” business.

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

One part that was a little bit confusing within this chapter is the description of the failure prediction model on pg.268. In fact, it was hard to understand the table 9.3 which describes the determinants of new-venture failures. I believe that if the author included example in this part it would be helpful for the students to understand the concept.

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

I would like to ask the author if there is a relationship between failure and new business, in other words, Are new businesses vulnerable to failure more than any other businesses? Is it something common that has to be avoided, or is it a necessary step to be successful in the future?

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

I believe that in the table Facing your Fears! on page 273, the author could have also added one key aspect that an entrepreneur has to have in mind anywhere he or she goes, which is the fact of realizing that failure is the common denominator of success. In other words, I think that the author should have included one more aspect that describes how to overcome failure to be successful.

The Gator Spotter - Elevator Pitch No.1

The unmet need that I believe is affecting most of the students that live off-campus is the bus and its schedule. Not because the bus is in bad conditions or because there is no bus at all, but because everyday someone suffers from that stressful moment of arriving late to the bus stop. I believe that with the help of technology we would be able to solve this issue with no problem. 

The name of my business is “The Gator Spotter” (I accept other name proposals) and it is based on a smartphone application that focuses on providing the student the necessary resources to be able to manage his or her time more efficiently with respect of transportation. Gainesville offers free buses for all the students that live in the city, but there are somethings that have to be improved. The Gator Spotter app will offer the student or the person that downloads the app with the opportunity of basically scheduling his or her bus. 

The app will send notifications 25, 20 or 15 minutes before the bus actually gets to the bus stop he or she usually uses. You just have to set up the following:

•         Where do you take the bus (what bus stop)
•          At what time you usually take the bus
•          What Bus route you usually use (Bus number)

That would be it. It’s very simple and helpful at the same time.

Please let me know what you think and thank you very much for watching. I accept all kind of critiques.