Wednesday, March 30, 2016

Venture Concept No. 1

In today’s world there is a pressing global climate crisis. We are depleting the earth’s resources and polluting the environment so heavily that we have begun to see irreversible climate changes in the form of global warming. 2015 was the hottest year in recorded history; we had to search as far north as the poles to try to even find snow, and what was even scarier is that places as far north as Juneau, Alaska were experiencing temperatures averaging in the mid-thirties for the month of December (That is above freezing temperature!). It does not take an expert to know that Alaska should be much colder in the winter. These rising temperature will result in the melting of polar icecaps, rising ocean levels, and depletion of habitat for wildlife. This is only the most obvious issue as well. There is direct environmental destruction going on with the depletion of forests all across the world, the pollution and overharvesting of our oceans making dead zones where wildlife once used to thrive. There is much more going on as well, which would take me a whole essay to just list and talk about. And you may ask then why do we keep polluting, and the answer is simple. We pollute in order to produce things that humans need for their every day lives in this new modern age.
If all these things that we do to pollute the environment lead to things that we need then how can we help the environment and stop polluting? Well we need to try to identify products that aren’t necessary and search for a creative, innovative, and green solution in order to eliminate them from our lives and eliminate their environmental impact. One such product that I will seek to address, through my company Paperless Solutions Inc., is the paper receipt. Paper receipts are the most unnecessary use of paper in the modern economy. After many interviews I have discovered that most people never use the receipts printed, and most stores today (Primarily Restaurants) will ask if you want your receipt and should you say no then they will just throw it away. This is a huge problem because paper receipts actually have a huge economic impact and it has been discovered that they are even harmful to a person’s health! Paper receipts account for the destruction of over one million gallons of water, burning of 250 million gallons of oil, and one billion gallons of water consumed every year. All this generates over 1.5 BILLION pounds of waste in the USA alone, all for something you’re probably never going to use. Why then are we using paper receipts? Well the answer is that there currently is no alternative to them and we need a way to provide proof of purchase so people can make returns, and help track their spending. However with the technology we have today physical receipts have become obsolete; we are capable of designing and implementing a much better and greener system.
Through my budding company Paperless Solutions Inc. I will seek to provide a technological alternative to a paper receipt. My idea is to provide a mobile app connected to a website that will simultaneously scan and store receipts, as a digital file, into an online cloud-based storage system. My system will allow customers to access these receipts through a secure online account used via the app or a separate online website. The stored receipts on the app will work very similarly to a normal paper receipt, containing all the desired information however in a non-waste creating digital package. The receipts will be scanned through a digital program either installed onto a separate machine or onto preexisting machines that are able to scan digital signals, much like the Apple and Samsung Pay card scanners. I do not know which of these will be more effective to use but that will be figured out through cost-analysis and marketing strategies.
The digital receipt, although in existence, is not currently efficient. Companies such as Square, Inc. offer a “no receipt” and “email receipt” option along with the traditional receipt. Although those two options do save paper it is not convenient for people who need to use receipts. The email receipt leads to a cluttered email inbox and a difficult to access receipt; if a person receives lots of emails then this would be a very undesirable option, not to mention they would have to type in their email address after every purchase. The “no receipt” option is much more convenient as far as time saving and clutter goes but it does not provide any proof of purchase. With my alternative the shopper will be able to have an app dedicated solely to the storage an access of receipts, which will categorize and organize receipts in a way that we find most efficient (I am not sure whether this will lead to storing the receipts categorially or in chronological order according to date of purchase, but it will definitely include a search bar option), which will also have a quick and simple use simply by opening the app and tapping the phone to the scanner (using much the same technology as Apple pay). And if the customer does not want to save this receipt he always has the option to not scan at all. In either case we have the potential to save up to 1.5 billion pounds of waste every year. And one of the best parts is that because it is cloud based storage the customer will never have to waste space on their phone.
However an app like this would require many people to use it at once, and for it to be offered in many places. For regular customers, downloading an app they will only use once or maybe twice a week would not be useful. However if this app were to work directly with a large corporation such as Walmart and be implemented quickly then this would incentivize millions of people to use this app saving tons and tons of waste yearly.

This app has great potential to take one step closer to saving the environment and making the world a better place. Pollution caused by humans can slowly be decreased with the help of modern technology, all without sacrificing our lifestyles. All it takes is people to be committed to being green.

Sunday, March 27, 2016

Week 11 Reading Reflection

1) The biggest surprise in the reading, or rather most interesting bit, is that technological innovations dont always make for the best businesses and rather innovative business models are what makes for the most succesful businesses. Innovative companies like Amazon, Netflix, and Chipotle have taken serious advantage of innovating their respective markets and achieved great success.

2) Nothing in this reading was particularly confusing
3) Something i would ask the author is what his strategy for innovating is? How he goes about drawing inspiration in every day life to find and create new innovations?
4) I don't disagree with anything the author said this week. I thought all his points were solid and informative.

The Amazon Whisperer

For my business the primary revenue drivers would be contracts with the companies that would have access to my app in their registers. Also a variation of a machine that would allow for phones to scan or the virtual progam to be installed into computers at retailers so the receipts could be scanned.

i think the best way to make my "next product" would be to have the ability, within my own app, to pay directly with the app. Much like apple or samsung pay, however also saving and organizing the receipts that are scanned.

As far as the next experience, I can only forsee ease of use for the app and maybe to the point of having some way to scan all the products and pay for the items all while walking out of the store. It is a little out there to imagine, but what if you never had to actually stop and pay at the register. Your phone could automatically be scanned as you walk out the door or through some kind of scanner and all your shopping gets scanned at the same time. that way nobody would need to stop and you could just go straight to your car. To be able to do this there requires alot more sophisticated technology, but as far as a future experience, that isnt something ide be surprised to see in the future.

As far as a product similar to mine on Amazon, there isnt any. The closest thing to my product is either Apple or Samsung pay. Samsung pay from what ive seen has far better reviews than apple pay because it is available almost anywhere through any register that can scan a bar code, however apple pay requires a register with Wifi and is not offered in as many places because of it. These two products, however, do not offer the ability to store and oranize receipts and do not provide an alternative to traditional printed receipts. Registers such as Square do provide a paperless version of receipts but only through email. After much interviewing and asking around, the emailed version of receipts is not efficient and only clutters a person's email. My product will be dedicatied to the receipts, organizing them in order to provide easy access should a receipt be needed for returns, budgeting, and tax purposes.



Sunday, March 20, 2016

Week 10 Reading Reflection


  1.  The most surprising bit about this reading i think is the amount of possible liabilities. Everything from loans to taxes can be liabilities and it takes alot of effort and tracking to manage them all properly. Its no wonder it takes so many professionals to properly run a company.
  2. I have taken basic level accounting and finance courses here at UF so i did not find much of this quite confusing. Rather a real world application opportunity of what i have learned.
  3. I would ask the author when and how it would be appopriate to seek outside help in the area of accounting and finance early on in the business cycle. Sharing private information early on in the business process can prove to be very dangerous as the company has yet to find any solid momentum and foundation. but also proper financial management is key for a successful business so i would love to know the correct balance for both these key business elements.
  4. This was a very straightforward chapter and i didnt feel any information was misplaced.

Growing My Social Capital

1) Jesus


  •         I met Jesus through a mutual friend of ours. He works for EMC corporation, which is a large technology company that manufactures and creates data storage systems, information security systems and cloud computing systems. This person is my domain expert and can give me just the right advice and connections when it comes to producing my receips scanner app and data base. Also he will come in handy in the production of the machine bits for the actual scanner machine should i need a seperate machine and not just a scanable code. He was introduced to me as a friend of my friends mother. I have gotten a hold of him on the phone and we have discussed for a few minutes how to efficiently make an app with the most fluid design and ease of use with the code scanner.


2) Gustavo Salazar

  •     Gustavo is the head of marketing in the Peruvian insurance broker Trust. I met him through my uncle who is the founder and CEO of the company. Through these two men the company had grown from a two men broker insuring only one small soda factory to the largest broker in Peru and one of the largest in south america. Although Gustavo is not directly involved in the market for my receipt machine his vast experience and success in the consumer marked will prove indispensible with me. I spoke to him over facebook messenger for a bit and he shared really valuable marketing advice that could help my company get started. Keeping him in touch will be a must in order to help quickly grow myh company and even insure it as well!
3) Daniel S.

  •     Daniel works for PCM which is a technology distributer. I got connected through him via a friend of mine. He can get me connected with a tech manufaturer in order to be able to produce my receipt scanning device and possibly web designers who can also develope a proper website and app for my company. 



REFLECTION:

  • This was a very interesting and fun assignment. It showed just how much work it actually takes to star a new company and produce a product. Also i felt very good talking to people about my idea to eliminate paper waste from receipts and the positive feedback and interest i received from my new contacts.





Wednesday, March 16, 2016

Elevator pitch NO. 3

For my last two elevator pitches I was told to provide more information about my product, Give a better introduction, and also explain what I am looking for from the recipient of the speach. I hope I did a better job accentuating these parts in my speech.

Sunday, March 13, 2016

Week 9 reflection

- One thing about the the reading that surprised me is how important correct marketing is. The proper marketing of a product can be the deciding factor in its success. A terrible product can be marketed well and it will be very successful and an amazing product not properly marketed will result in its failure.
- I did not find anything explicitly confusing about the reading this week.
- I would ask the author about marketing via social media and how marketing can and has evolved through it. Every big company now has a social media account and I feel like it is all over my social media lately. Also I've found that small companies are starting up by marketing solely on social media just because of its inexpensive was and reachability.
- I don't think the author was wrong about anything in the reading this week.

My Secret Sauce

1) something I believe that sets me apart from others, my secret sauce if you will, is that I'm very detail oriented and meticulous when it comes to my work. I've said this before but I believe it to be true. I am very hard working and I focus on what other people don't usually see, and I believe that my work stands out because of it.

2)


3) from the interview I've given I learned a lot about myself. I found that I show a great love for people and that I am very inclusive when it comes to being with people. I know that I have a love for people and love when those around me are happy and having fun but I did not know that it was that evident to those around me. The interviews did mention that I am very detail oriented and meticulous in my work but I saw how the more personable parts of my personality. I was very encouraged and happy to hear the encouragement and the love my friends have for me. I think now that my love for people and relationships with those who I love are my greatest attributes.

Wednesday, March 9, 2016

Idea Napkin NO.2

1) My name is Nahel Abugattas, I am a chemistry major. Some things about me include: having a major that has nothing to do with my business concept, the fact that I don't really want to be an entrepreneur because I want to be a doctor, and also I have long hair. As far as talents go, I have an uncanny ability to maintain low self-esteem despite my charisma and charming demeanor. Also I'm pretty smart hard working and very detail oriented. But more importantly sometimes I think that I'm funny, but many times it's evident that I'm not. If this business actually takes off and becomes part of my life I would imagine it would probably be my future. If I were to begin acting upon my ideas and begin my business then I foresee many obstacles but also many rewards down the line. I would definitely need to learn a lot more and become far more experienced before taking upon this take and doing it well.
2) I will be offering an application that will be able to scan receipts directly from a computer or register monitor that I would also need to provide. This scan would save 1 copy of the receipt onto a cloud based storage on the customer’s account and would be able to be accessed via the app or online on a separate website. The scanned receipt would serve as proof of purchase like any normal receipt but will be a purely digital copy thereby using no paper.
3) My product will be offered to anybody with a smartphone who purchases things regularly. The more target market would be individuals from the ages of 18 - 60 who regularly purchase things, are independent, and do most of their own shopping.
4) Anybody who is remotely interested in helping the environment would be interested in my product. Also the convenience of digital accessibility while never needing to take up memory on a person’s phone would ease the process of organizing receipts for tax purposes and return purposes. Online the receipts could be categorized for easy locating making it far more convenient. Also corporations can see a huge return on their investment in the machines used to scan the receipts. Millions of dollars spent annually on paper rolls for receipts would be saved and the retailers can keep all their promotions and special anything that they usually keep on their receipts.
5) As far what sets me apart? I am not aware of any company that is currently doing anything similar. There are certain register companies like Square who can email receipts to you, but nothing that uses an app to have an easily accessible digital receipt. And an email of a receipt is very inconvenient to keep organized.


I think my business has a few key weaknesses. The first being that for it to have any real impact it would need to be implemented in large nation or worldwide retailers. There wouldn't be much of an impact only being used by a few local companies although it would be convenient and money saving for them. Also it would have to work in tandem with people downloading the app. If millions of people have an app but only a few places to use it then people wouldn't keep using the app. The product would first need to be implemented at large retailers and advertised there in order for it to be truly convenient. Then people would begin downloading the app in large quantities and much power will be saved.

FEEDBACK MEMO
For the feedback that i received i can only derive a few points. For one Ive been told that my idea is very good and potentially very beneficial to the environment and that i should try to pursue that. I found this is very encouraging. Also people told me to be more confident in myself and my product. Confidence breathes success and i will need to be confident in order to succeed. I also need to work on my own strengths and weaknesses and be sure to assess myself throughout the entrepreneurial process in order to better myself and in turn better my company. Knowing your personality can help you properly asses your strengths and weaknesses and i believe that in order to succeed i have to know myself first, and work to better myself throughout my career.