1.) A necessary level of organization is necessary for one to keep up with work within this class as it is very easy to fall behind because most assignments are due on the Friday of each week, I have to say at the ought set I was not very organized and sometimes waited until the last moment to finished my assignments which can be a difficult task to complete.
2.) Most assignments build on top of each other and often times this can be easy if you understand your previous assignments, however, when I was making the Elevator Pitch video I was very nervous because public speaking is not necessarily my strong suit, I wasn't to sure if I would be able to clearly get my point across or even be able to effectively explain my idea. I wanted to skip this assignment in order to spare myself the embarrassment. However, an effective entrepreneur must be willing to stumble if he /she wants to succeed so I figured if I made a mistake then at least I would learn from it.
3.) My advice for next semesters students would be to strive to complete assignments at least 2 days prior to the deadline this allows time for corrections and questions to be asked to the teacher, if you have any doubts regarding your work give it to someone to review then try to realize the difference between nervousness and inferior work. My final advice would be to give yourself room for mistakes, when your unsure that's just room for more growth and perhaps some changes.
Friday, June 22, 2018
Friday, June 15, 2018
11A Idea Napkin
I am an avid music composer, for the last 15 years I have composed classical music. Composing something out of nothing has always been my favorite challenge. Above all I want to leave the world a little bit better than when I came in. My customers will be people who currently own Marijuana Dispensaries who seek to have a need for depositing their revenue. Marijuana Dispensaries all whom sell marijuana recreation-ally or to third parties. They will pay me a commission to deposit money to swap the check into cryptocurrency. This will provide them with a means of safely storing their revenue and also open up a new market for investments. As someone who has owned a non-profit I know have had experience in running a business I have also learned the difference between trying to impress my customers and leaving an impression upon them.
I do believe that all the elements of my business do fit together nicely has it is a business model that can cohesively survive within this economy as it is something that no one is currently providing and with enough demand with the hopes of turning it into a successful business.
12A Figuring Out Buyer Behavior
Interview 1 & 2 & 3
The first two interviews I conducted dealt with the segment of the market which I believed and accurately predicted had issues with banks and Marijuana dispensaries. All three businesses were conducted with those who have the unmet need, the first time these business identify the need is when their sales are counted at the end of the month, because they cannot deposit the money, many of these dispensaries keep it within the safe or within a locked drawer. Some inventive methods to solve this problem, one of the dispensaries sometimes have to deposit the money within the employees personal accounts due to overflow within the safe, others have sent the money to family for safe keeping. They have tried to find a new method of depositing their money such as classifying their business as medicinal herbage. The owners of these dispensaries have spoken to many friends and family concerning this issue even sought to donate to a few lobbying firms to change the financial regulations surrounding Marijuana Dispensaries and how the Federal Reserve regulates banks.
The first two interviews I conducted dealt with the segment of the market which I believed and accurately predicted had issues with banks and Marijuana dispensaries. All three businesses were conducted with those who have the unmet need, the first time these business identify the need is when their sales are counted at the end of the month, because they cannot deposit the money, many of these dispensaries keep it within the safe or within a locked drawer. Some inventive methods to solve this problem, one of the dispensaries sometimes have to deposit the money within the employees personal accounts due to overflow within the safe, others have sent the money to family for safe keeping. They have tried to find a new method of depositing their money such as classifying their business as medicinal herbage. The owners of these dispensaries have spoken to many friends and family concerning this issue even sought to donate to a few lobbying firms to change the financial regulations surrounding Marijuana Dispensaries and how the Federal Reserve regulates banks.
13A Reading Reflection
Walter Isaacson "Steve Jobs"
The first time I read this book, I felt a sense of completeness that I had not felt from an autobiography before, the first aspect that surprised me the most was the development and subsequent firing from Apple after the success of the first Apple computer. This surprised me because a big part of the successful entrepreneur is the story society tells, and Steve Jobs was truly a morally bankrupt individual. As Steve Wozniak said " you can make good products and be a good person, the two are not mutually exclusive."
I admired Steve Jobs ability and willingness to turn away from the crowd in order to conduct the orchestra, it is often necessary to be stubborn in order to seed one's dream, initially Steve wanted to give away the computer interface for free, however, Steve Jobs realized and had the business sense to develop it into a legitimate business one that could change people' s lives and make money.
I did not admire Steve Job's mistreatment and subsequent ignoring of his daughter and first wife Chrisann Brennan. He was a man who truly bad an impact on the universe but the way he conducted his personal life often times, verbally and emotionally abusing his coworkers and family caused him far more problems than necessary, in one particular incident he threatened to discredit one of his employees on the stage if the engineer could not fix the broken demo.
After his firing from Apple, Steve Jobs sought to start a new education company called NeXT although this and built the Cubi-NeXT workstation the entire station costs nearly 3500$ to build but was initially sold at $2000 it was a complete failure the company actually lost money and eventually closed down. He eventually used that to capitalize on his return to Apple after he realized the difference between a right product and the wrong time and a right product at the right time, when Apple tried to push the Newton as a new cellular pager that failed but Samsung would soon sell out the same item 15 years later with the Galaxy Note 2
Steve Jobs was brilliant at figuring out what people needed before they even did, Henry Ford once said that "if he asked people what they wanted they would have said faster horses" Steve Jobs developed a technology people did not realize they wanted but immediately came rushing when it was developed.
The dissolution of NeXT, although the company was failing in its R&D it was bought by Apple in 1997 for $429 million, I never understood why Apple bothered to make this sale, Steve Jobs was already on his way to Apple and it was clear that the company was failing so why waste the capital and resources.
If I had to ask Steve Jobs any question I would ask the following, In order to make an Impact upon the Universe do you believe that one would have to sacrifice their personal happiness with family and other interests? Also if you could go back would you change your relationship with Steve Wozniak?
Work is not Hard as long as it is what you enjoy!!! This is what I believe Steve Jobs would believe
The first time I read this book, I felt a sense of completeness that I had not felt from an autobiography before, the first aspect that surprised me the most was the development and subsequent firing from Apple after the success of the first Apple computer. This surprised me because a big part of the successful entrepreneur is the story society tells, and Steve Jobs was truly a morally bankrupt individual. As Steve Wozniak said " you can make good products and be a good person, the two are not mutually exclusive."
I admired Steve Jobs ability and willingness to turn away from the crowd in order to conduct the orchestra, it is often necessary to be stubborn in order to seed one's dream, initially Steve wanted to give away the computer interface for free, however, Steve Jobs realized and had the business sense to develop it into a legitimate business one that could change people' s lives and make money.
I did not admire Steve Job's mistreatment and subsequent ignoring of his daughter and first wife Chrisann Brennan. He was a man who truly bad an impact on the universe but the way he conducted his personal life often times, verbally and emotionally abusing his coworkers and family caused him far more problems than necessary, in one particular incident he threatened to discredit one of his employees on the stage if the engineer could not fix the broken demo.
After his firing from Apple, Steve Jobs sought to start a new education company called NeXT although this and built the Cubi-NeXT workstation the entire station costs nearly 3500$ to build but was initially sold at $2000 it was a complete failure the company actually lost money and eventually closed down. He eventually used that to capitalize on his return to Apple after he realized the difference between a right product and the wrong time and a right product at the right time, when Apple tried to push the Newton as a new cellular pager that failed but Samsung would soon sell out the same item 15 years later with the Galaxy Note 2
Steve Jobs was brilliant at figuring out what people needed before they even did, Henry Ford once said that "if he asked people what they wanted they would have said faster horses" Steve Jobs developed a technology people did not realize they wanted but immediately came rushing when it was developed.
The dissolution of NeXT, although the company was failing in its R&D it was bought by Apple in 1997 for $429 million, I never understood why Apple bothered to make this sale, Steve Jobs was already on his way to Apple and it was clear that the company was failing so why waste the capital and resources.
If I had to ask Steve Jobs any question I would ask the following, In order to make an Impact upon the Universe do you believe that one would have to sacrifice their personal happiness with family and other interests? Also if you could go back would you change your relationship with Steve Wozniak?
Work is not Hard as long as it is what you enjoy!!! This is what I believe Steve Jobs would believe
Friday, June 8, 2018
9A Testing Hypothesis Part 2
Interview 1
Who: Medical Dispensary Owner,
Although this type of business shares a great deal in common with my own style of business they fall outside my opportunity need because medical dispensaries are considered and sanctioned as medical associated business hence many banks provide services to these types of businesses
What: The need here is significantly different from what I seek to offer, because many of these business already have a closely related relationship with insurance companies, and banker in fact, many bankers would provide subsidized loans at lower interest rates because they are aware of the lucrative position many of these dispensaries are in.
Why: The underlying cause of the differences between those within my boundaries and those outside it is the designation of those outside my need as medical businesses.
Interview 2
Who: KNOX Cannabis Dispensary
This dispensary has found a method in which the fall outside my opportunity need because they haev a completely different need, these types of dispensaries can deposit money within banks that are not associated within federal reserve system and hence are not regulated by the federal reserve, they deposit their money offshore banks.
What: The difference in need here is perception, this dispensary can deposit money however, they can only do so offshore, they're issue is the political administration which has brought on different regulations.
Why: Thirst cannot be mistaken for hunger, and in this case the situation concerning these individuals is political lobbying not a new form of banking.
Interview 3
Who: Dr. Correia, owner of a farming plant for Cannabis and other medicinal herbs, she is a Osteopathic Practitioner, this particular type of business is owned by one person, and its revenue is deposited within her personal accounts. Although she does
What and Why: The need Mrs. Correia has is more concerning regulation although the underlying need is similar to those who are within my boundaries because they are individually owned businesses and such are not subject to the same level of regulation.
Interview 4
Who Pot Entrepreneurs, have run into many different issue when seeking to turn their business into a profitable market, these are individual growers that sell their, product to third party distributors.
What and Why: The majority of the issue many of these people face is similar to the Dr. Correia situation they're regulation impeding many individual growers to associate with banking institutions.
Interview 5
Who: Partner Headquarter Credit Union the first form of financial system that began banking with Marijuana industries,
What and Why: the issue with this system of financing deals not in its acceptance of marijuana revenue but in its lack of diversification once these funds have been accepted within the financing.
Inside the Boundaries
Who is in: Those dispensaries which currently house grown and sell marijuana to either recreational usage or other medical purposes but cannot establish a banking system with banks.
What the Need Is: The Marijuana Industry is in need of a Banking system that will allow dispensaries to deposit their money.
Why the Need Exist: Many banking institutions throughout the United States is regulated by the Federal Reserve System and acceptance of money is based off of federal regulation which is currently stating that any bank that acceptance money from Marijuana dispensaries could be charged with money laundering.
Outside the Boundaries
Who is in: Many Medical Dispensaries
What the Need Is: Many of these dispensaries are not necessarily under the same regulation which causes many of these dispensaries to be able to deposit money but they can only do so with a limited number of institutions.
Why the Need Exists: Federal Reserve Banking Regulation is under Federal Law which states that Marijuana is class I drug which means any one looking accepting money from it is money laundering.
Who: Medical Dispensary Owner,
Although this type of business shares a great deal in common with my own style of business they fall outside my opportunity need because medical dispensaries are considered and sanctioned as medical associated business hence many banks provide services to these types of businesses
What: The need here is significantly different from what I seek to offer, because many of these business already have a closely related relationship with insurance companies, and banker in fact, many bankers would provide subsidized loans at lower interest rates because they are aware of the lucrative position many of these dispensaries are in.
Why: The underlying cause of the differences between those within my boundaries and those outside it is the designation of those outside my need as medical businesses.
Interview 2
Who: KNOX Cannabis Dispensary
This dispensary has found a method in which the fall outside my opportunity need because they haev a completely different need, these types of dispensaries can deposit money within banks that are not associated within federal reserve system and hence are not regulated by the federal reserve, they deposit their money offshore banks.
What: The difference in need here is perception, this dispensary can deposit money however, they can only do so offshore, they're issue is the political administration which has brought on different regulations.
Why: Thirst cannot be mistaken for hunger, and in this case the situation concerning these individuals is political lobbying not a new form of banking.
Interview 3
Who: Dr. Correia, owner of a farming plant for Cannabis and other medicinal herbs, she is a Osteopathic Practitioner, this particular type of business is owned by one person, and its revenue is deposited within her personal accounts. Although she does
What and Why: The need Mrs. Correia has is more concerning regulation although the underlying need is similar to those who are within my boundaries because they are individually owned businesses and such are not subject to the same level of regulation.
Interview 4
Who Pot Entrepreneurs, have run into many different issue when seeking to turn their business into a profitable market, these are individual growers that sell their, product to third party distributors.
What and Why: The majority of the issue many of these people face is similar to the Dr. Correia situation they're regulation impeding many individual growers to associate with banking institutions.
Interview 5
Who: Partner Headquarter Credit Union the first form of financial system that began banking with Marijuana industries,
What and Why: the issue with this system of financing deals not in its acceptance of marijuana revenue but in its lack of diversification once these funds have been accepted within the financing.
Inside the Boundaries
Who is in: Those dispensaries which currently house grown and sell marijuana to either recreational usage or other medical purposes but cannot establish a banking system with banks.
What the Need Is: The Marijuana Industry is in need of a Banking system that will allow dispensaries to deposit their money.
Why the Need Exist: Many banking institutions throughout the United States is regulated by the Federal Reserve System and acceptance of money is based off of federal regulation which is currently stating that any bank that acceptance money from Marijuana dispensaries could be charged with money laundering.
Outside the Boundaries
Who is in: Many Medical Dispensaries
What the Need Is: Many of these dispensaries are not necessarily under the same regulation which causes many of these dispensaries to be able to deposit money but they can only do so with a limited number of institutions.
Why the Need Exists: Federal Reserve Banking Regulation is under Federal Law which states that Marijuana is class I drug which means any one looking accepting money from it is money laundering.
8A Solving the Problem
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.
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