29 Venture Concept

The marijuana business throughout America, is beginning to take off, as more and more individuals have are catching on to the deregulation that many states are now providing its citizens. The issue remains that many banking and lending institutions will not provide many dispensary with a line of credit or even allow these dispensaries or individual sellers to deposit money. What I propose is an online banking system that utilizes cryptocurrencies and cyrptobanking that swaps this cash for crypto, thus allowing marijuana dispensaries and other marijuana manufacturers to deposit their money. This will bridge the divide for many marijuana dispensaries and open up a new mode of banking.Many Marijuana Dispensaries no longer have a means of depositing their revenue into a reliable bank or even getting a line of credit due to the stigma surrounding the drug that they sell. If I open up a crytpobank allowing Dispensaries to deposit their saving in the form of cryptocurrencies and exchange goods and credit online, which can then be relegated into cash via Bitcoin many dispensaries will be able to have a means of safely guarding their cash while diversifying their revenue through investments and credit. relevant to the sociopolitical landscape of our nation; many people rely on marijuana for a variety of things, so coming up with an opportunity that facilitates the transitioning of marijuana into the mainstream is ingenious. Your solution to this problem is also quite original; I personally would have never been able to connect the cryptocurrency and marijuana industries the way you have, so you really are sitting on something great. I wish you wrote more about what you discussed because what you had was so great.
Innovation
Investment Banker, works for Hedge Fund, although investment is a primary concern for many with dispensaries and for bankers seeking to invest that money many do not have an issue taking dispensary money as it will eventually be diversified and hardly calls for a new mode of banking especially those dealing with cryptobanks. The boundaries of the need however, are that some hedge funds need to use cryptocurrencies in order to expand their financial profiles which would bring many dispensaries that cannot use banks to their financial sectors, two main forms of savings exists those which are kept in banks and the other which is invested many hedge funds, although risky, are willing to take money from large groups of sectors and diversify it. Independent Seller of Marijuana After my interview the owner of did tell me that most people within his line of work would love to have a system for depositing they're revenue and also investing it without the hassle of economic regulation.Law Enforcement Officer, how would an online banking system operate for law enforcement, surprisingly this idea was suggested originally by members of law enforcement,
Whatby having an online banking system built through block-chain for dispensaries and independent sellers, law enforcement could keep track of who what and where these froms of marijuana are being sold and which is legal and which is illegal.

Secret Sauce

Social Circles and Capitals and Unfair advantage 

Doctor Dara Amole (Oncologists), Medical Marijuana prescription Doctor

1. This person is filing the domain expert of my industry , as someone who is an oncologist and prescribes and treats cancer patients with various Marijuana Treatments she is in a prime position to explain and shed light as to how these treatments are given, who is allowed to give them, how much is purchased and their relative costs. This individual is more of a technical expert who knows a great deal of information that I myself would like to know. This person is my familial relative, Aunt, who explained how the system operates. By having this person throughout my personal capital this allows me to better understand the industry and also notice potential customer needs and individuals to exploit.

2.  KNOX Dispensary seller, Jim Sloage

This person fills the supplier need for my industry, I contacted this person through a mutual friend, from South Florida. The seller as an MBA from the University of Miami and currently sells Medical Marijuana with several other partners who earned there MD's from UM as well Mr. Jim is one of teh managers who I had a lengthy phone conversation as he explained to me how the business operates and its issue concerning investing its funds Having this person's skill and experience in sales will provide me with necessary wisdom and a vast network of potential clients.


3. Bitcoin Investment John Greer, Coinbase Investment

This particle person fulfills the expert throughout my market, but more specifically offers a service very similar to the one I seek to venture into. Mr. Greer is a day trader for crypto-currencies and invests in various online banking institutions. He is also a family friend whom I contacted and tried to get a better understanding of how individuals could convert money into online currency and where these transactions would be taking place and the rules and regulations defining them. The idea is if I bring this individual clients then he can convert the money into an easier mode for investments and he will provide my clients with investment opportunities.

The major changes I made throughout my Venture Concept was the modification of my unfair advantage as well as how this would implement my business, specifically just how my business would be able to best the competition, each individual brings a new element to my venture, my previous critics showed me that I needed to connect just how my business would compete with others and what exactly my advantage would be in my business. They states I should change how I utilize my network, instead of just showing what my business is I show how it operates how I would employ those resources to best get peak advantage. 

 

30A Final Reflection

My low points and high points were both necessary for me to understand just how the entrepreneur mind works most of the formative experience,  was the development of my business strategy, as supposed to following my passion. Often times passion is separate what is actually tangible for a business to develop. My most joyous experience was having the opportunity to Read from the Reading list because it allowed me to understand the development of how other entrepreneurs found success, it allowed me to learn from the mistakes of others and my proudest moment was when I could officially see what exactly my business would look like and how I would develop it. As the class ends I have a much better grasp of how an entrepreneur thinks, what is necessary to succeed, and I believe I am an entrepreneur even if I have not started my business yet. My recommendation for many students would be to ensure that they try to finish their assignments on time, always foster a mindset of urgency regarding your work, what you can do today should not be able to wait to tomorrow, always seek to maximize your productivity. 

Free Money

My initial thoughts on this assignment were one of bliss, I thought it would be easy. I decided to go to Southwest Rec, Public on archer road, and Turlington Plaza with the hopes of running into the most people. My pitch was centered around the idea that I would give away money because it was self-improvement month at the UF college of liberal arts and sciences and we were hoping to change people's day by giving them some money. I would approach people who were waiting for the bus and those who were flyerin at turlington and public. Out of 5 attempts I thought i would be able to get at least 3 dollars away. It took me nearly 5 attempts to successfully get two dollars away. This assignment taught me a great deal about first impressions, particularly when you want to sell something to someone, it is alot easier to do this with more than one person, initially I did it by myself and it provide an odd conversation starter, but when I did it with someone else the conversation went much smoother, i approached people as they were actually in the middle of a soccer match and even at the workout stations, these people were actually more open and receptive to the idea. Giving away the dollar was harder than i imagined in the first few areas such as turlingotn and public because people seemed less aware of there surroundings and also less giving of their time, but southwest recreational was a much better location because it seemed as if people were a little bit more understanding. I assumed that people would be less interested at sw rec because of excersize, but rather they were more open and even had a little bit more fun with the idea of winning a free dollar.

Celebrating Failure

This semester something I failed in was my time management regarding my molecular genetics class, this unfortunately meant that I had to spend the majority of the time playing catch up with my work as supposed to, this showed me just how quickly work can pile up, also showed me that failure is not necessarily without its up side. Each opportunity provides people with a lesson and it showed me just how important it was, as an adult when you fall you look back to see what you made a mistake, that's the way you learn.

Reading Reflection 26A

The purpose of this book is the development of economy throughout the 21 century, but more specifically the advancements of the 3D printing and the ability to enable customized products, high value products that are hard to manufacture outside/ have little labor content and thus less labor arbitrage opportunity and finally "things that we can't even imagine yet." 

This book developed my understanding of ENT 3003 by emphasizing the democratization of entrepreneurship: Anderson talks about how an inventor develops a business and how this business must be separate from blind passion and needs to be responsible and something customers will seek. He also discusses how manufacturing has changed overtime and how this affects business ideas and relations. 

If I had to design an assignment it would be for individuals to find a common theme throughout their business ideas and see how much manufacturing it would take, this would help determine whether this is an ideal situation to puruse or if it is not a good idea

28 Exit Strategy

 My exit strategy for this business was certainly something that came across my mind, I intend to develop the business for the next decade, which is also the same time frame the marijuana business is expected to reach its zenith. The development of the marijuana economy will continue to grow allowing myself the opportunity to grow my business with it. However, i do intend to sell my business off within the next ten to fifteen, ideally I would like to sell my business to either a bigger industry leader or perhaps a bigger tech company. 

I have selected this particular exit strategy because i believe that it will be a good way for me to develop and grow my business while also providing myself with a safety net in case i ever want to get rid of the business.  By doing this I have influenced how I want to go about conducting my business and how I wish to grow it. I have decided that I should the limit of employees and also how big the business should get. I also seek to align myself with other industry financial leaders which are within my business to seek potential buyers., my users resources are also slightly different as it will be potential consumers and also buyers of my business

25A What's Next

Existing Market

1.) The next step for me would be to begin, coming up with a business infrastructure and begin analyzing the cost and benefit analysis to find out exactly how I would make my business begin making profit and what exactly my future consumers are going to need to provide a reliable consumer base.

2.) After interviewing three individuals who were are members of my market, I realized that what I considered to be next was very wrong, their advice helped put my process into perspective and how they aren't completely aligned for the business world. The first thing that i should be focused on is making sure that my product is easily accessible for people within my market, the KNOX Cannabis manager advised me that while my product is good. The majority of people may not necessarily understand the concept of cryptocurrency and where they may be able to take advantage of this product and where they can find it. The next person I interviewed was from a recreational seller of marijuana the next thing he suggested i focus on should be the development of business infrastructure, specifically how they business would operate, how the money would be transferred from physical coin to virtual and also where the investments would be made. The last customer i interviewed was a member of the Coin base Investment Firm, this was the most informative advice given. He told me next step should focus on what my potential competition could be and how I should beat them.

3.) Overall the advice i got was very enlightening the next step for me will be to understand if there are any other concepts which have been produced that may be similar to mine, if so then how is my idea different perhaps how can i out compete these individuals. This will help me develop exactly how the market is responding to these demands and who is responding to them. After that I will then focus on the development of my business infrastructure, specifically how I can develop a sound structure for conducting business.
My last step would be to develop a long term plan for my business, how do I envision this company growing and effecting the market that i wish to be a part of, how can I grow my consumer base, how do I provide easy access for those who have now idea what crytpobanking is.

New Market

1.) A new market would be the development of online medical banking in which marijuana dispensaries have there own regulated banking system many dispensaries are entering into community banking in which they will form new banks of their own.

2.)  This can provide me with a rare opportunity to merely facilitate the transactions of these accounts rather than establishing a whole new banking system online.

3.) My first interview was with TD Banking Bougainvillea Clerk, Ms Tyler who discussed with me the new methods their branch is using in order to accept deposits and profits from Marijuana Dispensaries and more importantly after I discussed my idea with her she told me that I would need to act more has a middle man for investments rather than an acceptor of deposits, she also highlighted the fact that in this particular situation the more lucrative deal would be to sign on as an crytocurrency investor with the bank as supposed to dealing with the dispensaries personally.  My last interview was with the new Manager for the Medical Marijuana Dispensary down in Miami and he discussed how many of these new institutions are depositing their money with affiliated hospitals. allowing them to divert the Banking Regulations and Invest in companies

4.) What I took away from both interviews was that although my idea was slightly originally many people have found ingenious was to solve their own problems and I could build upon their platforms;