Philip's Entrepreneurship Blog

Industry Expert: Financial Management Firm Owner (57M) My first expert contact I received from my family connection to a wealth management firm in Miami, and I was able to receive contact with the owner of the firm, Mr. Jack. Mr. Jack began his career as a orchestra specialist, helping to manage the logistics of funding a moving an orchestra through different venues across the country, but eventually pivoted later in life to finance work, using his logistical understanding to build a well-running financial firm that caters to the wealth needs of high income individuals. With over 30 years of experience, Mr. Jack is a clear domain expert in the industry, and knows how to adequately plan to solve his client's financial needs and retain their business. I was able to have lunch with Mr. Jack earlier in the year when I was in Miami, and I was able to use that social goodwill that we built to contact him via email to briefly ask about the viability of my product. I think having Mr. Jack...

Me I am a Finance major at the University of Florida, and have developed a lifelong love of learning new things, especially when it comes to finance and wealth management. I've had a number of entrepreneurial experiences in my youth, having opened a couple of small business and employed friends to help with my endeavors, as well as being exposed to the social good that entrepreneurial work can do through positive mentors like our family friend Mr. Keller. I also benefit from being very committed to work that produces a lasting impact on people's lives, be it economic relief work for less fortunate countries or production of resources that allow people to better their own financial positions. Given my aspiration to do meaningful work that helps people, I think my product and my business can help me achieve that goal. What am I offering to customers? I am offering clients an online course system to self-educate on important topics of finance management, focusing on the basics...

Link to Pitch:   https://www.youtube.com/watch?v=KIyqe7DXOOs Reflection:  I did not receive any comment feedback on my last elevator pitch, but I did try and utilize more of Professor Pryor's strategies in my second pitch to be less mechanical and more engaging. I added more of a grabber in the first part of the pitch by asking the listener about their own financial struggles, and then stated that most Americans face this issue, showing the listener that they are not alone and that there is a solution. I also added an "ask" at the end of the pitch to meet the listener at a different time for 30 minutes to go more in-depth into the product.

      Description:  My customer is 31 years old and works as a civil engineer. His salary is slightly above the national average, and his lifestyle reflects this with the minor standard of living improvements he can afford. He drives a metallic grey 2020 Toyota Corolla hybrid to save on gas money, and he has an expensive coffee maker so he can enjoy more complicated drinks without buying from a store every day. He enjoys attending music festivals and sporting events, as well as going to trendy local bars where he can drink beer that is better quality than the stuff he had in college. He enjoys fantasy literature, like Lord of The Rings and the Inheritance Cycle, as well as popular fantasy shows like Game of Thrones and The Witcher. He is single and focused on his career right now, and does not have any children or pets. Comparison:  I have a couple of things in common with my customer avatar, primarily in our shared enjoyment of fantasy novels a...

Overview:  While I previously defined my segment to be younger to middle-aged individuals ranging from those just graduating college to those about a decade out from retirement, I think I need to narrow my focus to not include those directly out of college, but rather the younger individuals who are somewhat set in their job and career path and can focus on long-term spending habits. My interviewees from the previous exercise were often very new in their field or still preparing for additional schooling, and were not too focused on spending and multi-year financial goals as a result. Thus, my interviewees for this assignment will be vetted to assure that they are past this stage of financial uncertainty and have a somewhat steady form of pay, as these people will likely benefit the most from the product I will offer. Interview #1: Veterinary Worker (36M) The first interviewee clearly conveyed a desire to become more financially literate, specifically wanting to find a short...

My Thoughts: I think my human capital consists of a few facets of my character that has helped me so far in school and life in general. I think my grades reflect my ability to work hard to achieve my goals, as well as my ability to prioritize assignments to achieve the highest point total for all my classes with the least amount of unnecessary stress. Also, I think my time management skills are relatively good, as I almost never turn in a project late and I recognize needing to start work on an assignment early if I think it will take a while to complete. Pertinent to my product, I think I have a fairly decent grasp on what people should do to invest their financial resources, but also as a child growing up during the recession I have seen firsthand what ill-preparedness can do to a family, and how difficult it can make life for them. Interviews: 1)  https://www.youtube.com/watch?v=FRTzB6rmAaA&feature=youtu.be This first interview was with my roommate, one of my best frie...