Elevator Pitch 3

https://youtu.be/Q_bWsW1yzgU 

I received really positive feedback on both sessions we have done this. Being a self-critic though, I really wasn't happy with how it flowed after I watched it. This time, I focused on ensuring I transitioned well, had call to actions thought out, and started off with a serious of attention-grabbing questions, statements, and voice inflections. 

Reading Reflection No 2

I choose the 7 Habits of Highly Effective People as my book to read. This is actually the second time I have read this book. The first time was 7 years ago before I was running a successful company. I was just a freelancer and didn't have a lot to manage the first time.

The general principle of this book is that there are 7 Habits that effective and successful people tend to follow. When these principles are followed, they allow for incredible personal growth and success to occur. The book stresses taking personal accountability for your actions and proper goal setting as a couple of ideas. When you are able to know who you are, what matters to you, and you realize you are in charge of your actions in life you can tremendously affect the direction and results in your life.

An exercise I would do in the class would be to do a vision board that includes your values, dreams, and your personal mission statement. Starting with the end in mind and defining who you really make all of the other habits easy.

My biggest aha is how different this book was this time I read it. The first time I read it, a lot didn't make sense to me and I found it challenging to read. This time, it left a much stronger impression and reminded me of a lot of things that I need to do again. I actually did most of the things he said to the first time and reflecting back, I realize that I have followed the guidance of those things for the last several years without even doing it intentionally.

Growing Your Social Content

For the market expert, I selected Chef Nathan T. He has started, managed, and owned several restaurants on Johns Island and the surrounding area. His markets have been the same that I am targeting. I used to work for him when I was a server at one of his restaurants. I asked if he would poll his current employees at his restaurant on the island to see if they would be a consumer and would promote it if it existed. He informed me that some would use it (the coffee drinkers), and that they would promote it. He didn't ask for anything in return, he said I've done enough with my past work efforts. He is able to assist me in coming up with great marketing tactics for my target market.

For the product expert, I selected Sarah P. She is the owner of Muddy Waters, a future competitor, or potential ally depending on how we proceed with the relationship. She runs a coffee shop on James Island that serves French and Italy beans, which has a very unique taste. So while the market is similar, she has a very unique product. I connected to her by going to the store and asking who the owner was. I then emailed her to request a meeting. The favor I asked of her was to share with me feedback she gets on her pricing and products. She told me that she has found that the pricing range limits her to price between $3-$4 per cup to create maximum sales and revenue. She also told me that because of the unique taste of her coffee she has a very loyal following and focuses on the development of their loyalty and referrals instead of external marketing. She can help me to identify the best pricing point and how to be unique in the market.

For the supplier I spoke to Alex S. He is the salesperson for Charleston Coffee Roasters. This is the company we would use to roast our beans and import the product for our coffee. I found him through LinkedIn and sent him a message requesting a one on one to discuss his products. He helped to explain the process of their roasting and how the process works. I asked him if he could elaborate on how we can be highly sought after and a market leader. He informed me that the biggest thing we need to focus on is customer service and really developing loyal customers. In return, he asked if we would consider using him as our roaster. He has helped me to verify what we need as our competitive edge.

Idea Napkin 2

1. I am a Charleston native and local business owner. I also grew up on Johns Island, which is the area that I am targeting. I have a passion for business and the game of entrepreneurship. I have operated a marketing agency for several years and also have started to business service, not for profits. I believe that these skill sets are very valuable in this venture because I will be able to grow the sales of the new company. I envision starting this business and building it with a manager and staff that will be well trained with solid systems in place so that I will only need to drop in for a few hours a day 2-3 times a week initially and eventually for just a couple of hours total per week. 
2. We will offer locally roasted, premium coffee. A complimentary product will be freshly baked pastries. Those will allow us to create revenue. The other thing we will be offering that isn't a product, but creates our brand loyalty is a space for people to create community through face to face time.  
3. Our target will be the residents of Johns Island, SC. Our secondary market will be people on the island for business, passing through on their way to the resorts, or people staying in Air BnB's for travel. 
4. Our target customers will be interested in purchasing our coffee and spending time at our shop because there is not an alternative within 15 minutes. We will be the only community/local-focused coffee shop within 45 minutes and the only coffee shop with a decent tasting product within 15 minutes. 
5. Our coffee will be locally brewed and premium sourced. We will have the only offering within 45 minutes that provides a community enhancing experience and the only locally roasted coffee within 45 minutes. We are the only nonfranchise, quality coffee product within 15 minutes. 

This business idea is very well thought through and I have researched it extensively. The area we are targeting is the fastest in the state and expected to double in size in the next 10 years. There are only a couple of restaurants and food & beverage offerings on the island and none that offer this type of coffee house. The median income for the area is $40,000 and it is the second largest island on the East Coast of the US. There is significant opportunity if the location is focused on building rapport in the community, great customer service, and premium quality. 

The feedback I received was all positive and everyone focused on that it seemed that this was a solid business plan and possibility. I have extended the research, planning, and consideration since the last assignment like this and have incorporated those ideas into this by enhancing my analysis on the situation and offerings. 

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Our prototypical customer will be a female aged 20-40 that has a steady career or is a stay at home mom. Our secondary customers will be either sex aged 25-55 in business or college students. Our customers will go out to eat at leas 2-3 times per week and often be too busy for the norms of live. they will have cars ranging from all types of sedans and suv's. They will typically watch reality tv, sitcoms, and sports. Our customer will range from single to married with up to 4 children. The ages will be under the age of 25.

I fit in the prototypical customer demographics. I am a business male, aged 29, that eats out twice per week with two kids under 12. I drive an moderate SUV, watch reality tv & sports. I would be a customer of my store.

Elevator Pitch 2

I actually found all of the feedback I received helpful. While I knew the things that people were sharing with me, what I realized is that I wasn't practicing the things that I knew to do. I have been giving 60 second elevator pitches weekly for the last 7 years. I realized that because the pitch I did the first time was for a business I don't actually own and run, my heart wasn't in it. I attempted to make sure this time to do the things I have practiced many times for years.

16A Secret Sauce

I believe that my human capital comes from being goal driven, hard working, and caring. I care about my staff and family. I care about what they think, how they feel, and their goals. I think that makes me a better husband, father, and boss. It allows me to make adjustments to who I am and how I operate to make things better for the people around me. I believe that in business you have to be goal driven to understand who you are and how you operate. You have to have a strong work ethic because you are self disciplined and you have to be willing to put in the time and effort before you can ask others to.

I interviewed my wife, Jennifer, my dad, my daughter Tagan, my aunt Jill, and my son Sebastian.

Jennifer said that I was very task/goal oriented and was very driven.
https://soundcloud.com/alan-292841405/sets/school 

My dad said that I was driven, personable, & smart.
https://youtu.be/bmO4VUYXoWA

Tagan said that I am very driven- does a lot.
https://soundcloud.com/alan-292841405/sets/school

Jill said that I am outspoken, that I go above and beyond, I am trustworthy, and that I am hard working.
https://youtu.be/MTK7k1MeyXA

Sebastian said that he likes how I speak to him, that I am responsible, that I am admirable, and that how I treat others is respectful.
https://youtu.be/gjH6tGPnxAo 

I feel that other people's opinions of my human capital is accurate. I tend to believe that I am very in tune with who I am, how I feel, and what I do best. The things that they said are the same that I said. Hearing it from my children really stood out to me because it comforts me knowing that I am teaching them the things that I want them to see.

15A Buyer Behavior 2

Guest 1- Jill W

I interviewed my aunt that fits the target market as a resident of the island. I specifically focused on alternatives with her and why she chooses her locations. Her preference is Starbucks because of convenience. She is constantly on the go, so having the ability to order with an app and get rewards for coming frequently is enjoyable to her. 

Guest 2- Chrissy P

I had a great conversation with Chrissy, a school teacher on the island. She lives out of the way of where I have been prospecting, but is still in the segment. She said that the location would probably prevent her from coming because it is not on her route. She will likely choose an alternate location, and her preference is Muddy Waters. That location is on another island where she works and has to pass by on the way. She likes to support local and would consider our location on the weekends, but for her the location is critical. She defines a good purchase as the coffee tasting good without mistakes and her being able to get in and out quickly.

Guest 3- Darby R

Darby is the daughter of Chrissy and is a high school senior. She said that she currently has to travel to Starbucks as the alternative. She goes there to get out of the house to go see friends and to study. When our location opens she intends to come to us because we will be closer and have more space. She looks to see a comfortable environment to enjoy her coffee and the things she is doing. 

I believe that I have to really consider and review the convenience and loyalty factors in my planning. The place has to be well built, well trained, and there has to be either a loyalty program or a very strong brand loyalty to compete with Starbucks.