Thursday, July 26, 2018
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
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
Friday, July 20, 2018
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;
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;
23A
Resources
1.) Intellectual Capital
The first aspect which would make this venture different is the development of new intellectual property, specifically the code necessary to transfer currency into an online banking institution. So far this is a process has not been done before but more importantly it is something that cannot be easily duplicated as it takes an extensive knowledge in developing the necessary coding for cryptocurrency.
2.) Logistical Infrastructure
Much like the way Wal-Mart has taken over the grocery industry, my venture intends to develop the first logistical infrastructure for cryptobanking, by providing a well demanded service for customers, which will form a bridge between banking, crytpocurrencies, and more specifically the profits of our Marijuana Economy this will be the first mode of transfer and investments for many of these institutions. So far there is no resources that provides this service so far.
3.) The Social Capital/Experience
The number of individuals who are within my social capital bring a great deal of experience and in some cases provide many future customers. It is rare for a venture to be able to provide the individuals who are experienced not only in business but also in the health care industry, this will allow me to bridge the cap between two sectors of the economy, and by doing so greatly increase my customer profile and also add to the uniqueness of my venture.
4.) Research and Development
The key to building a great venture is the ability adapt to the changing times, my venture will seek to keep up R&D efforts by constantly updating the coding infrastructure which provides the crytpocurrency with its security and versatility throughout the investment field. Each coder is unique, and the coding in this case will be a combination of how well the code can withstand utilization and different economic situations.
5.) Cross-Market Product
My product is marketed towards a wide-field personnel, meaning I intended to branch those who operate within the investment and banking center, and those who operate in the health care industry, this is unique to my venture and while others may be able to copy the format the product itself is unique to tailor the needs of my customers. This is a product and economic situation that cannot be easily copied.
6.) Cost Structure
Unlike a great deal of other ventures that require a great deal of capital and money to get off the ground. My venture is not that expensive as it mostly revolves around developing coding and computer infrastructure. The fixed and variable costs to operate my business will be far lower than most within my field, which offers me a unique and rare opportunity to provide profit and service to my customers.
7.) Organizational Culture
In my business there is no boss, the employees will work with me not for me. The idea is that each employee will be in the product that my company will be selling. My company will seek to bridge the gap between two booming markets and provide a clear cut solution to a growing problem. Focus on problem solving, creating a dynamic environment which individuals can foster healthy ideas, and institute a belief that people are always over profits.
8.)
1.) Intellectual Capital
The first aspect which would make this venture different is the development of new intellectual property, specifically the code necessary to transfer currency into an online banking institution. So far this is a process has not been done before but more importantly it is something that cannot be easily duplicated as it takes an extensive knowledge in developing the necessary coding for cryptocurrency.
2.) Logistical Infrastructure
Much like the way Wal-Mart has taken over the grocery industry, my venture intends to develop the first logistical infrastructure for cryptobanking, by providing a well demanded service for customers, which will form a bridge between banking, crytpocurrencies, and more specifically the profits of our Marijuana Economy this will be the first mode of transfer and investments for many of these institutions. So far there is no resources that provides this service so far.
3.) The Social Capital/Experience
The number of individuals who are within my social capital bring a great deal of experience and in some cases provide many future customers. It is rare for a venture to be able to provide the individuals who are experienced not only in business but also in the health care industry, this will allow me to bridge the cap between two sectors of the economy, and by doing so greatly increase my customer profile and also add to the uniqueness of my venture.
4.) Research and Development
The key to building a great venture is the ability adapt to the changing times, my venture will seek to keep up R&D efforts by constantly updating the coding infrastructure which provides the crytpocurrency with its security and versatility throughout the investment field. Each coder is unique, and the coding in this case will be a combination of how well the code can withstand utilization and different economic situations.
5.) Cross-Market Product
My product is marketed towards a wide-field personnel, meaning I intended to branch those who operate within the investment and banking center, and those who operate in the health care industry, this is unique to my venture and while others may be able to copy the format the product itself is unique to tailor the needs of my customers. This is a product and economic situation that cannot be easily copied.
6.) Cost Structure
Unlike a great deal of other ventures that require a great deal of capital and money to get off the ground. My venture is not that expensive as it mostly revolves around developing coding and computer infrastructure. The fixed and variable costs to operate my business will be far lower than most within my field, which offers me a unique and rare opportunity to provide profit and service to my customers.
7.) Organizational Culture
In my business there is no boss, the employees will work with me not for me. The idea is that each employee will be in the product that my company will be selling. My company will seek to bridge the gap between two booming markets and provide a clear cut solution to a growing problem. Focus on problem solving, creating a dynamic environment which individuals can foster healthy ideas, and institute a belief that people are always over profits.
8.)
Friday, July 13, 2018
20A Growing your Social Capital
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.
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.
21A Reading Reflection No. 2
- How to Fail at Almost Everything and Still Win Big, Scott Adams
1.) The overarching theme for this book followed the life of Scott Adams, and how throughout the road to success there is often a permissive belief that one may have a great deal of control over the journey one takes and the obstacles you will face, instead 60% luck and 40% work. This is because on the road to success it is filled with unforeseeable failure. Failure provides lessons and each time you will make mistakes you will begin to see different paths close and open.
2.) The book emphasized a series of important features concerning how to run a business and the importance of taking your passions into a physical manifestations of a business that can work, one aspect of the book was called "Passion is BullShit" i was immediately surprised at the title but quickly after reading more realized the connection to ENT 3003. The purpose of a business and a well-trained entrepreneur is to make an opportunity out of something you can see off a spreadsheet not something you can see through a smile. This seeks to enhance our discussion and lesson in class about seeing opportunities and understanding if they are actually lucrative.
3.) I would make students make a list of things the wish had solutions and then make another list for students to add their passions they would pursue if money was not even a consideration. If at any point along both lists, you see that their is an interaction, some form of intersection then that is a business proposal worth following.
4.)Q. What is the Key to Success?
anwser: Hire the Employees.
Q. How do You Know you Hired the Right one?
You know because the business is successful.
Q. So the key to success is circular reasoning?
Yes because circular reasoning is the key to success.
This simple exchange in the book showed me how the simplification of success is boiled down to a few factors and how often times we seek complicated solution for complicated problems but forget to see the tree within the forest and start with small components before moving on into bigger ones, once you have started seeing a little success all that is necessary is to restart the process again, like a circle.
Friday, July 6, 2018
19A Idea Napkin 2
I believe these elements do fit them as they each build upon each other and the ability to provide my customers with a well developed plan. I do believe some issue with this business proposal lies in getting people aware of my product as it will be a very specific subset of people that I will be selling to.
18A Create A Customer
My ideal Customer Profile: Immigrant Doctor from the United Kingdoms
Name: Mycroft Ellington Oyewole
Young Male African 34 Years old
Education: Masters in Business from Kings College & PhD and Medical Degree from University of Harvard Medical College for Biology and Cancer
Profession: Currently operates as an Oncologist Researcher at Massachusetts General Hospital Medicinal Marijuana Unit who treats patients.
Dr. Mycroft is a researcher works in tandem between the sciences and business which is the aspect which I would like to be a part of in my future profession. As a researcher Dr. Mycroft often times has to work with Marijuana dispensaries and other marijuana growers in order to ensure the medicine is well taken care of. As a doctor he has first had perspective of how the drug is stored and utilized This would be the ideal customer because their medical background allows an understanding as to how these drugs and as the head of the Marijuana Dispensary Dr. Mycroft work an average 70 hours a week, hard working, diligent, who has sought any form of any Universal Healthcare that is on political petition which often requires him to vote Democratically. Mycroft often times has volunteers at homeless shelters. The similarities between my and this customer lies mostly within our political belief, we are both liberal leaning, both of us are interested in medicine and we both see growth for marijuana throughout the health sector. Were both African and both of us are interested within the same field of medicine, cancer research.
Name: Mycroft Ellington Oyewole
Young Male African 34 Years old
Education: Masters in Business from Kings College & PhD and Medical Degree from University of Harvard Medical College for Biology and Cancer
Profession: Currently operates as an Oncologist Researcher at Massachusetts General Hospital Medicinal Marijuana Unit who treats patients.
Dr. Mycroft is a researcher works in tandem between the sciences and business which is the aspect which I would like to be a part of in my future profession. As a researcher Dr. Mycroft often times has to work with Marijuana dispensaries and other marijuana growers in order to ensure the medicine is well taken care of. As a doctor he has first had perspective of how the drug is stored and utilized This would be the ideal customer because their medical background allows an understanding as to how these drugs and as the head of the Marijuana Dispensary Dr. Mycroft work an average 70 hours a week, hard working, diligent, who has sought any form of any Universal Healthcare that is on political petition which often requires him to vote Democratically. Mycroft often times has volunteers at homeless shelters. The similarities between my and this customer lies mostly within our political belief, we are both liberal leaning, both of us are interested in medicine and we both see growth for marijuana throughout the health sector. Were both African and both of us are interested within the same field of medicine, cancer research.
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