Venture Concept 2

Opportunity:
Red Tide outbreaks have been occurring in tropical marine environments for centuries. This algae emits toxins that can be transported through the air. In addition, this algae kills marine life as it siphons vital nutrients like oxygen out of the water supply. As global climates become warmer and pollution increases nutrient availability, the range of these algae blooms has drastically increased. These outbreaks drive tourists away from coastal communities. This causes large economic losses for these local businesses and economies. Not to mention, the toxins in the air can cause respiratory problems to people who are exposed to it. The elderly and young children are most likely to develop these medical problems from exposure to Red Tide outbreaks. However, these are not my target audience because they don't have the funding to pay for a treatment and prevention protocol for Red Tide. Therefore, the local, state, and federal governments have been tasked with finding a solution for these outbreaks to preserve tourism and resident satisfaction. Currently, companies only offer chemical treatments that are very ineffective and have adverse side effects on other marine life. Governmental agencies have spent millions of dollars researching and funding efforts to control Red Tide outbreaks across the country. However, these algal blooms still hospitalize thousands of people every year.

Innovation:
I took several assignments and a significant amount of time to investigate the current methods of combating Red Tide. Currently, there is only one method of controlling these blooms. This method involves the use of a multitude of harsh chemicals. In addition to these methods being very expensive and harmful to the environment, they tend to only treat the outbreak. I didn't find any companies offering a prevention protocol for Red Tide outbreaks. My innovation is a biocontrol method utilizing microscopic organisms to feed upon and subsequently destroy any Red Tide outbreaks. After a lot of testing, these organisms have shown to have no adverse side effects on the environment. Not to mention, they are actually less expensive to implement than traditional treatment protocols. I sourced these organisms from a researcher in Tampa that was studying their ability to feed upon toxic algaes like Red Tide.

Venture Concept:
Utilizing the liquid cash I have available and money raised from VCs, I will begin constructing a network of facilities capable of treating Red Tide across the country. The idea behind this business is to lock up several counties by convincing them our method is superior to other people. As we get contracted from these counties we will utilize funds to pay off investors and expand our network. I plan on our company, Algae Solutions, working closely with local agencies to adequately solve the problem. In addition, I want algae solutions to utilize the media to build a strong campaign. Due to our eco-friendly vision, I believe that we have a large advantage over other companies in terms of our public perception.

The most valuable resource is patented technology and methods. Without these methods, our business wouldn't have a service to sell. In addition, if our protocol to control and prevent Red Tide wasn't patented, anyone could sell it to coastal communities. 

After establishing accounts across the country and treating Red Tide outbreaks. We will transition into a monitoring and prevention company. This will ensure that communities affected by Red Tide won't have to deal with anymore outbreaks. Our protocol will focus on limiting the algae's ability to reproduce in the environment without harming any beneficial organisms.

The next opportunity after Algae Solutions will be Biofuel companies. Currently, algae is very unknown. There are several gas companies experimenting with algae cells for biofuels, but nobody has successfully gotten one that can produce enough energy.


I didn't receive any comments that explicitly addressed problems with my venture concept. However, both the comments I received focused on the uniqueness of my solution. Specifically, they focused on how my solution was not based upon harsh chemicals  and focused on an eco-friendly approach. That is the reason I added to my venture concept. I believe that the media can be a very strong force that can increase our business. News coverage of our environmentally safe solution will put pressure on local authorities to work with us. The most important goal is improving the health of marine ecosystems.

Final Reflection

It is truly incredible how quickly this semester has gone by. Without a doubt, this class has made a profound impact on me and my outlook on the world. There were moments where I was frustrated and moments where I was very excited. However, I am leaving this class with a new outlook on the world and how I can make an impact on it.

Without a doubt, the most formative experience was the bug list. Although it was an early assignment, it got me interested in the class and taught me a great lesson. We all have problems in our day-to-day lives that we brush aside and continue to let bother us. The thing I never realized is that many other people share similar problems that we continue to tolerate. I think will stick with me for years to come because I am now constantly looking for problems without an adequate solution. I am most proud of my elevator pitch. Elevator pitches were a thing that I had attempted before, but I never felt comfortable using them in real life. After making multiple recordings and critiquing myself, I feel that I could give an effective elevator pitch in person.

I think that I have become an entrepreneur throughout my experience in this class. As I stated previously, I see the world in a totally new light thanks to this course. I see the world as a ocean of problems that need solutions.

I would recommend for students to set a schedule for working on this class. Set aside a few hours each week to make progress on the assignments. Not to mention, take the comments your fellow classmates give you seriously!! Their feedback will help you become a more well-rounded student and person. I included this picture because an entrepreneur solves problems in a way that is unique.

Reading Reflection 3

I chose to read The Art of Social Media: Power Tips for Power Users by Guy Kawaski. I specifically chose this book due to the fact that I have never been a diligent user of social media. I decided that learning about how social media can impact businesses and entrepreneurs would be valuable to my future goals. The general argument was that social media is not utilized to its full potential. It also argued that social media can be a powerful force for a business if certain steps are followed. For example, the book described the importance of visual appeal when a potential customer visits your social media page. Your photos should convey a message and be appealing to customers when they look at them. Aside from this, they go into more detail regarding the importance of collecting a larger audience across multiple platforms.

Throughout this class we have discussed a lot about identifying our target audience. As we progressed through the class, we all became better at identifying opportunities and potential customers. However, we rarely discussed methods of acquiring customers. Social media is becoming an incredible method of customer acquisition. I believe that a solid understanding of social media can drastically improve our customer acquisition rate.

I would have students find a business that is in the same marketplace as them. After this, I would have them make a list of positives and negatives associated with their social media. Lastly, the students would be tasked with inventing creative solutions to the problems they identified in the previous step.

My biggest surprise was when the author discussed not caring if people saw the same tweet or picture multiple times. He explained that it was far more likely for a customer to receive the message if they saw it multiple times. In addition, he explained that different types of people use social media at different times. Understanding this was a major point he made in connecting to your audience.

Exit Strategy

As it pertains to my exit strategy, I hadn't thought about it until we had the guest speaker two weeks ago. He made me realize that having an exit strategy is crucial to entering a business or starting one. After some thought, I realized that my ideal exit would be to be purchased by a larger firm and transition into a new market. I know that my personality doesn't fit with working in one market for several decades. After acquiring business across hundreds of U.S. coastal communities, Red Tide management will be very effective. Our patented methods will work in harmony to prevent future outbreaks from ever occurring. I find the acquisition of new clients and new areas more interesting than the actual management of a particular area. Therefore, a buyout would be ideal for me. It would provide me the necessary funds to transition into a new market of interest for me. Specifically, I would want enough money to pursue a new venture in biosecurity risk assessment and management.

I believe that my exit strategy has played a major role in my decisions to this point. Although I didn't realize my exit strategy, the choices I made were very conducive of a buyout. For example, I focused on acquiring markets across the United States instead of a particular region. If I had focused on a small area, it would be more likely that I would grow attached and not want to sell. Not to mention, I planned to have local authorities work with my company to oversee the Red Tide management. This will allow each individual community to have a say in the management program. Lastly, I wanted to grow very quickly. This is not conducive of a small business because it requires a lot more employees to manage a company that is working across a large geographic area.

Celebrating Failure

1. This past semester has been very difficult, and I have experienced several failures. However, my greatest failure this semester was my trading decisions in my portfolio. For several years, I have traded stocks, bonds, and crypto currency to make extra money. Prior to this year I had never experienced a major loss due to my diversification and diligent trade techniques. Unfortunately, after making a significant return on my investment from Bitcoin last year, I invested into Apple heavily. To my dismay, this quarter has been very poor for Apple stock holders. Lack of interest in the new Iphone and slowing sales have tanked the stock price. Over the course of a few week, I lost a significant portion of what I had invested.

2. Experiencing a large loss like this was very disheartening and made me consider stopping any trading. However, I had to understand that major losses happen to even the biggest investment firms in the world. I learned that diversification is always important and that markets are closely related. For example, oil prices affect the energy market, but they also influence markets that depend on shipping products or use a large amount of power. This loss has made me even more cautious as an investor in terms of investing in things I fully understand.

3. Failure is a very hard thing to go through, but everyone experiences failure at some point in their life. Failure does not define who we are or what we can become. Instead, the way in which we respond to failure defines who we are and what we can become. Personally, I used to take failure poorly and try to forget about it. This led me to making the same mistakes that I had previously. This class has taught me that taking risks is a good thing and failure will help you grow as a person!

What's Next?

Existing Market:

Currently, my market needs a company that can combat Red Tide outbreaks. With our patented protocol involving biocontrol instead of chemicals, we can eliminate Red Tide. In addition, we can work with local agencies to prevent outbreaks in the future. I believe that the next step for this company will come as a result of climate change. After speaking with potential consumers (local government officials and residents), I have come to the conclusion that our next opportunity will come from global warming. Many of the people I have interviewed have suggested to me that problems with Marine habitats extend well beyond Red Tide. They explained to me that important species for ecological health and economic prosperity, like Red Snapper, have been disappearing from the population. Overfishing, climate change, and the destruction of reefs has been the primary cause of these declines. With Algae Solutions working closely in these coastal communities, we will be poised to exploit this opportunity. I believe that working on the restoration of reefs will be a great transition for Algae Solutions. Phytoplankton and other microorganisms are essential for the health of these complex ecosystems. With our knowledge and vast network, I believe we could expand our business in these markets further.

New Market:

Switching my market was very difficult because my business was targeted at coastal communities. However, the knowledge and experience that Algae Solutions will give me over the course of its life will give me the tools to transition into a new market. I am talking about the fuel and energy industries. I would target a large company like Shell or Exon Mobile to hire us. Our services would include researching and conducting tests of biofuels derived form algae. This would allow larger companies to focus on what they do well, making money. I was unable to reach any executives at large energy and fuel companies. Instead, I interviewed two people who work in lower level management positions for Shell. They explained to me that their company had been experimenting with biofuels for two decades. Unfortunately, this research had not yielded a product that was able to be brought to market. I think that the experts at Algae Solutions would be able to do a better job conducting research and testing the feasibility of biofuels. I think my existing market is more feasible because large companies have a lot of people targeting them for business.

Venture Concept

Opportunity:
Red Tide outbreaks have been occurring in tropical marine environments for centuries. This algae emits toxins that can be transported through the air. In addition, this algae kills marine life as it siphons vital nutrients like oxygen out of the water supply. As global climates become warmer and pollution increases nutrient availability, the range of these algae blooms has drastically increased. These outbreaks drive tourists away from coastal communities. This causes large economic losses for these local businesses and economies. Not to mention, the toxins in the air can cause respiratory problems to people who are exposed to it. The elderly and young children are most likely to develop these medical problems from exposure to Red Tide outbreaks. However, these are not my target audience because they don't have the funding to pay for a treatment and prevention protocol for Red Tide. Therefore, the local, state, and federal governments have been tasked with finding a solution for these outbreaks to preserve tourism and resident satisfaction. Currently, companies only offer chemical treatments that are very ineffective and have adverse side effects on other marine life. Governmental agencies have spent millions of dollars researching and funding efforts to control REd Tide outbreaks across the country. However, these algal blooms still hospitalize thousands of people every year.

Innovation:
I took several assignments and a significant amount of time to investigate the current methods of combating Red Tide. Currently, there is only one method of controlling these blooms. This method involves the use of a multitude of harsh chemicals. In addition to these methods being very expensive and harmful to the environment, they tend to only treat the outbreak. I didn't find any companies offering a prevention protocol for Red Tide outbreaks. My innovation is a biocontrol method utilizing microscopic organisms to feed upon and subsequently destroy any Red Tide outbreaks. After a lot of testing, these organisms have shown to have no adverse side effects on the environment. Not to mention, they are actually less expensive to implement than traditional treatment protocols. I sourced these organisms from a researcher in Tampa that was studying their ability to feed upon toxic algaes like Red Tide.

Venture Concept:
Utilizing the liquid cash I have available and money raised from VCs, I will begin constructing a network of facilities capable of treating Red Tide across the country. The idea behind this business is to lock up several counties by convincing them our method is superior to other people. As we get contracted from these counties we will utilize funds to pay off investors and expand our network. I plan on our company, Algae Solutions, working closely with local agencies to adequately solve the problem.

The most valuable resource is patented technology and methods. Without these methods, our business wouldn't have a service to sell. In addition, if our protocol to control and prevent Red Tide wasn't patented, anyone could sell it to coastal communities. 

After establishing accounts across the country and treating Red Tide outbreaks. We will transition into a monitoring and prevention company. This will ensure that communities affected by Red Tide won't have to deal with anymore outbreaks. Our protocol will focus on limiting the algae's ability to reproduce in the environment without harming any beneficial organisms.

The next opportunity after Algae Solutions will be Biofuel companies. Currently, algae is very unknown. There are several gas companies experimenting with algae cells for biofuels, but nobody has successfully gotten one that can produce enough energy.