"Yeggy"

For this assignment I created the word "yeggy." I combined Keurig and coffee to make this new word, and changed the spelling to make it easier to use.  I typically use a keurig three to four times a day whether I'm at home or the office so it was easy to come up with.  However most people that heard me say it couldn't put it together until after I had explained what it was, once they understood they usually laughed. No one other than my mom used it, and she would do so in a joking manner. Overall I learned that people who don't understand the idea almost immediately seemed to be turned off from it all together.  So it's crucial that the idea, or word in this case, is simple and easy to use.

Halfway Reflection

1) Organization is key.  Working full time and taking another four credit online class has been difficult.  In addition, most weekends I try to spend time with family or travel across the state to see my girlfriend. Time management has been the most important aspect of this summer.  Dedicating the same block of time everyday and working on assignments on schedule is how I've been able to complete most assignments.

2) When I was forced to cram and study for an exam in my other class I didn't have the time to give enough attention to this course.  I couldn't go out and conduct interviews and I missed a few assignments, I considered quitting my job or even dropping the class. I was lucky enough to be given a few days off work after explaining to my boss my situation. Since then I've been trying to work ahead when possible and stay on top of things.

3) When taking this course it is extremely important to plan ahead when trying to conduct interviews.  These are typically the most difficult assignments and require looking ahead of schedule.  Don't be afraid of talking to strangers about your assignments.  It will be uncomfortable the first time, but after one the rest come much easier. Having the right mindset for this course is needed if you truly want to learn how being an entrepreneur works.  Constantly thinking about how to better the world by solving people's unmet needs. Once you make your first bug list you realize it never really ends. Since then I'm always on the look out for fixing life's problems and issues.

Idea Napkin No. 1

1) I'm a person who likes to help others and make their lives easier.  I'm currently an office assistant for a company and continuously help around the office and understand that efficient work makes other people's jobs better. On a larger scale I can help out my city by putting up a parking garage to help ease the volume of traffic. If I were to start this project I would consider it my full-time job after graduation.

2) With this product I am taking the headache out of beach traffic and parking on Anna Maria Island. Island visitors frequently run into the issue of limited parking which in return backs up traffic onto mainland, annoying people living there. This garage helps the source of the problem and takes care of the related issues.

3) There are three different groups of customers I'm helping. One, island visitors who come to Anna Maria Island for the beaches. Two, island locals who become frustrated when visitors park illegally and cause problems. Three, mainland inhabitants who suffer from backed up traffic.

They all experience limited parking and excessive traffic.

4) By paying money to park at a garage, visitors don't have to fight for parking on the island and worry about fees if they are forced to park illegally somewhere else.  Additionally, the garage can serve as a one stop destination to gear up for the beach.

5) It's easy to be set apart when I can be the only source of mass parking for AMI.  The garage would be the only area where people can park, buy beach accessories, and get a trolley ride to the island all in one.

I believe having the mindset to help others paired with understanding these customer's needs is an opportunity for success.  While there is virtually no experience with building construction, I believe customer needs and determination can overcome this setback.

Tweaking the Innovation

My product would be a parking garage for AMI visitors.

• Parking Garage 
• Parking meter fee
• core - pay to keep vehicle parked legally
• tangible - physcial space you've purchased to gaurnatee spot
• augmented - saves time by gaurnateeing you a spot here rather than chancing it for the spot on the island
• Trolley fee
• core - buys you a spot on a trolley that takes you to AMI
• tangible - physical spot on a trolley ride
• augmented - no waiting around to find parking spot, simply get dropped off at the beach or other destination on AMI
• Small convenience store with beach supplies
• core - sells much needed beach supplies and accessories 
• tangible - drinks, ice, sunscreen, coolers, sandals, clothes, etc.
• augmented - convenience of products sold right where you park before getting a ride to the beach

The meter fee could be either controlled by the hour or day. If monitored by hour we could theoretically control how long some people stay at the beach/island and manage the human traffic volume on the island.  The meter could also be paid for with an app that included a timer to let you know when your meter is running out. Island visitors could then choose to pay more while on the island if they wanted to stay longer simply by purchasing more time right from their phone.  The trolley ride from the garage to the island could be enhanced physically by not only offering bus rides.  Ferry or boat rides could also take people from the garage to the island. The trolley ride could be offered as a one time round trip fee or could be purchased as a year pass.  The convenience store could become a restaurant as well as gift shop. In addition the store could rent out beach accessories such as bikes, kayaks, jet skis and more. 

Elevator Pitch No. 1

Here is the link to my elevator pitch. My opportunity is to make the parking and traffic problem better in Bradenton, FL. Beach parking is limited and causes traffic to back up into town. MY solution is to build a parking garage that helps minimize this problem.