ENT3003 Spring 2020

Final Reflection ENT3003 has been an interesting class to take.  The assignments made me dig deeper into my ideas when it comes to being an entrepreneur, I didn't have that mindset prior to this class.  Sometimes the assignments felt quite tedious but once you go back and look at your blog posts and the comments you realize how much you have grown throughout the progression of class. The elevator pitch was the most formative experience for me.  I have never been a fan of public speaking and this allowed me to overcome that fear of being in front of the camera.  It also made me appreciate the work that someone puts in to make there pitch successful, it's not easy! My recommendation for students that are coming into this class is to develop a clear plan to do the assignments or even work ahead if it is feasible with their schedule.  Some weeks are much busier than others within the coursework so you have to make sure enough time is allotted to complet...

  Part 1 Venture Concept #2 Opportunity: Parker Claims Management is an opportunity to serve business and consumer clients who have been affected by any type of natural disaster resulting in damage to their personal property.  The client’s needs are recognized once they begin to work through the process of any type of insurance claim.  There are so many different types of natural disasters: fire, flood, wind, tornado, and hurricane.  Natural disasters are not geographically discriminatory, they happen everywhere and to anyone.  The fact that they occur everywhere allows a vast number clients across a vast geography to be served.  This is considered a HUGE opportunity.  Natural Disasters will never cease to happen so the need for our services will be constant, people will always need help when they are affected. Innovation: Parker Claims Management is a firm that helps business and consumer clients na...

Andrew Carnagie by David Nasaw 1) You read about an entrepreneur: ·          What surprised you the most? That the founder of the large steel company came from such a poor family ·          What about the entrepreneur did you most admire?   He came to America to allow himself to try and achieve the American dream and accomplished it! ·          What about the entrepreneur did you  least  admire?   He started to co-mingle his personal beliefs with politics. ·          Did the entrepreneur encounter adversity and failure? Andrew Carnagie definitely had both adversity and failure during his life.   Each time he was faced with a challenge he pushed forward to try and find the solution. 2) What competencies did you notice that the entrepreneur exhibited? Strength, Persuasion, Tenacity 3...

My Exit Strategy 1) My exit strategy would be not to exit!   My intent with Parker Claims Management is to stay with the business to make it profitable and sustainable to allow the venture to become the family business to be passed to my children. 2) The reason that I selected the strategy of not exiting is because I believe the firm could be an incredible opportunity for my children to have.   They would receive something valuable they could continue to grow or they could sell their inheritance if it was more suited for them. 3) My thought process during the startup of this entire venture has been persuaded by the fact that I planned on keeping the business for my children to one day inherit.   There wouldn’t be some big investor waiting to buy me out once the venture was off the ground so I needed to make sure everything was in place to allow the firm to have continued success and longevity

My Soul…… ·          During this semester of ENT3003 I failed to do my 3 rd elevator pitch because I simply didn’t want to do it.   I felt like already doing it 2 times was enough and didn’t want to make any additional changes so I just decided not to do it and lose the 3 points for that assignment. ·          I learned that I have to persevere and make myself complete the assignment even though I may not want to at that moment. ·          Failure is one of the hardest things to face at any age.   No one likes to fail!   For the folks that are competitive beyond the normal realm it can be even harder to deal with.   It affects people emotionally and sometimes causes their behavior to appear as an overreaction.   This class has really brought to may attention how many ways in the world on entrepreneurship there are to fail.   Wit...

Existing Market.  Step 1: Talk about what you think is what's next in terms of products and services for your venture: Parker Claims Management is at expanding our team to allow us to offer expanded services to our clients. Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about  your  ideas of what customers might want next: We are not required to complete the interview due to COVID-19 social distancing, however I believe that if I were conducting interviews they would say that the next thing for my venture is team and geographical expansion. Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in t...

Venture Concept #1 Opportunity: Parker Claims Management is an opportunity to serve clients who have been affected by any type of natural disaster resulting in damage to their personal property.   The client’s needs are recognized once they begin to work through the process of any type of insurance claim.   There are so many different types of natural disasters: fire, flood, wind, tornado, and hurricane.   Natural disasters are not geographically discriminatory, they happen everywhere and to anyone.   The fact that they occur everywhere allows a vast number clients across a vast geography to be served.   This is considered a HUGE opportunity.   Natural Disasters will never cease to happen so the need for our services will be constant, people will always need help when they are affected. Innovation: Parker Claims Management is a firm that helps clients navigate their insurance claims process to maximize their claim monies received. ...

Generate a list of all of the resources in your venture (produce a list of at least 10 resources that you already possess). This can include your human capital, social capital, financial capital, and capabilities. You may also discuss the organizational culture you intend to create (but, obviously, it's not a resource that you have, now.) List of Resources: 1.        Personal Initial Investment of $100,000 2.        Personal knowledge of the insurance claim process 3.        State of Florida Insurance Licensing 4.        Expertise in Personnel Management 5.        Experience in creating Organizational Culture 6.        Existing relationship with Insurance Public Adjuster 7.        Existing relationship with Insurance Agents at multiple firms 8.   ...

Bringing In A Second Opinion Thinking, Fast and Slow by Daniel Kahneman 1) What was the general theme or argument of the book? The general theme of the book is to discuss Kahneman's thesis, a dichotomy between 2 types of thought.  Kahneman breaks down our thinking into "System 1" that is fast and emotional and "System 2" which tends to be slower and much more logical. 2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?   The book helped enhance my opinion on a person's thought process and the reasoning behind why some questions are easily answered very quickly while others have to be thought through and require a different way of thinking . 3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve? I would put together two types of exercises for a person from the random sample to complete.  I would ask them to do something that would utiliz...

Danielle Penny,  Peoples First Insurance Company 1) Danielle is the personal lines manager for Peoples First Insurance Company.  She has worked within her firm for 20 years with 30+ years of industry experience. 2) Danielle would be considered my market expert, she deals with insurance claims on a daily basis and assists her clients navigating the process. 3) Danielle is my personal insurance agent and a longtime friend.  I was able to reach out to her in our office building and as her some questions, we work in the same office building. 4) Danielle gave me her expertise on navigating the claims process in my business.  She doesn't expect anything in return because she wants to help people. 5) Danielle is an expert in the insurance industry however she cannot navigate the claim process on her own.  My hope is to receive referrals from her. Javier Ramirez, Guarding Public Adjusters. 1) Javier is a Florida licensed Public Adjuster, he has worked m...

1)  You.  I am a seasoned business professional with experience dating back to 1998.  I have experience in many industries:  Banking, Finance, and Insurance.  I experienced Hurricane Michael in 2018 and it made a profound impact on my life.  It allowed me to realize the amount of work necessary for a homeowner with a Hurricane disaster claims to be paid fairly.  This business would allow me to use my expertise and connections throughout the business community to help people.  I am a survivor as well and want to lend a hand to my fellow survivors in need. 2)  What are you offering to customers?   I would like to open Parker Claims Management to allow clients access to a full team of experts:  agents, adjusters, contractors, engineers, and attorneys.  We would work with clients to maximize their insurance claim by helping them navigate the entire process.  Our company makes use of Aristotle's Concept of Ethos, our ch...

https://www.youtube.com/watch?v=lZOKtwGwiqg&t=8s In this Elevator Pitch I moved outside to show my neighbors home still showing the major damage Hurricane Michael cause.  My hope is that this would have a dramatic effect on the viewer. The feedback that I received was very positive but I did receive a recommendation to be a little more enthusiastic.  This is very hard to do in my case because I was so personally affected by the Hurricane myself.  My hope is through additional practice I will be able to interject some enthusiasm into my elevator pitch. Stay tuned for No. 3

My clients are normal people that have experienced something catastrophic, just an average American of any age.   They are not happy because of their situation and seem to appear that way, almost never smiling.   Most of them have families that they are taking care of, some of them are blood and some of them are adopted.   The adopted family can even be someone they took in after the event that occurred because they didn’t have anywhere else to go.   These clients are from every political party, they aren’t divided when a natural disaster occurs because it affects everyone.   After experiencing a natural disaster, Hurricane Michael, I feel like I have SO much in common with my clients.   The reason for starting my business venture is a direct result from my personal experiences and the need that was recognized.   The direct correlation is not a coincidence in this situation, it came from personal experience!

Begin with alternative evaluation. Customers within my segment have to look through many sets of alternatives to make their pick.  They have the option to engage each of our specialty experts individually typically making their final decision based on experience and word of mouth recommendations.  Price typically doesn't matter for clients because with this type of work their is a flat percentage charged across the board with no negotiating. How/where do they buy?    Customers within my segment will typically engage with my company in person because the contract is signed by both parties in the presence of a witness. There is no money exchanged at the time of the contract, the fee is paid when proceeds are received from any  insurance settlements.   Post-purchase evaluation.  When clients are affected by a natural disaster there main priority is to get their home back in order so they can try to return to a normal day-to-day life.  Whe...

Miracles Happen:  Mary Kay Ash 1) You read about an entrepreneur: What surprised you the most? I was most surprised by the long term success of Mary Kay's business even through all of the challenges and adversity she experienced. What about the entrepreneur did you most admire? Mary Kay was determined to allow herself to be successful and not have to endure the pains that her mother did while taking care of her family by working so many tireless hours. What about the entrepreneur did you  least  admire?  She sometimes didn't pay attention to things going on around her that negatively affected her in the long run. Did the entrepreneur encounter adversity and failure? If so, what did they do about it? After working for a company for 25 years, Mary Kay was passed over for a promotion by a man that she trained 2) What competencies did you notice that the entrepreneur exhibited? Tenacity, Religious beliefs, Generosity  3) Identify at least...