Blog by Choi

Existing Market – As I mentioned on past posts, and the trend of these days is relating business with another, like Uber plus restaurant; Uber eats. Interview 1: Younghoon, College Student in Santa Fe -        He loves Uber, no more words to explain about him. He usually stays home and does not really prefer to go outside, and orders food. I talked with him about this business and what would come up next. He agrees with my idea, relating restaurant business with car services. The reason why he agreed with my idea is, he said ‘There is reason why people use their car, to go somewhere or to eat something.’ Interview 2: Ben, College Student in UF -        He agrees with my idea, but he said then I should focus on customer service really well. He said to survive in car service industry, as it is also ‘service providing’ service, I have to focus service as the most. Once the company makes problem on it, they would move to...

-       Opportunity : The potential customer of this venture business is the people who owns the car. There is no geographic or demographic limits on this markets, if the person owns the car and cell phone with wifi, then everything is fine. At very first, I bind the group of customer nationally, but changed it to local area, Gainesville, Florida. According to our activities on this class, 5A Identifying Local Opportunities, Gainesville and University of Florida have parking lot or restriction problem. As parking is one of the essential daily action, I think this has huge opportunity to satisfy people’s needs, and it has potential to maintain its opportunity for a while. -       Innovation : The main service I would like to provide is finding out the parking space for people. The service would be provided by smart phone application. The application would cover both IOS and Android, app store and play store. It works simila...

1) Engineers - Most of my friends are studying computer science and I believe they are great on making smart phone application - inimitable 2) Idea - My idea is definitely decent, as Gainesville is facing parking lot problems frequently, especially on game days. - valuable, rare 3) Experience on service - Although it is smart phone application, it is basically focused on providing service and convenience. I can accept and figure out what they want on my business. - valuable, inimitable 4) Potential - Tons of people in Gainesville use car and of course they park. Definitely this business would be in high demand. - valuable. 5) No need of tangible resources - It is app and it is for providing convenience and service. It does not need tangible resources. - rare or valuable 6) Local business, but can be bigger - Basically, I planned this business for my personal convenience, just for finding out parking lots in Gainesville. However It can be bigger as it is general needs of peop...

https://youtu.be/sjkLpK7x5bA Reflection: The most impressive feedback that I got was from one of my friend who currently does start up business. He told me that my business model is pretty great but I have to figure out how to make profits, which is the thing I have not been really thought about. - So like general smart phone application, I think i should start it by putting the advertisements on application, like under or right after turning on the application so I can make some profits.

There was a book which took whole my attention. It is "How to fail at almost everything" by Scott Adams. As it's title shows, it was interesting to read. The main theme of book is about failure and that is actually fine in our life. We all know how to become a successful person in our life. Every famous or successful businessman says challenge, work hard, be creative, which are the hardest thing. Passionate people takes some risks and challenge on the thing they want, even though just few of them got the rewards. People get failed on their purpose would face hard recognition from others and will not able to give advice to others, because people regard them as failure. After reading this book, I learned that passion is not the most important resource to become success, energy works more. (Maybe passion is in energy) Positiveness is essential skills in our life as well as in relationship. I believe those positive energy is necessary to start a business. If I read this b...

1) One person must be a domain person in your industry. I am not sure I did right on this one. So, as my business would be treated as start-up at very first, I tried to contact one of my best mentor, Joon Park. He was formal Korean Student Association in Boston University, and did one start-up in US called Freenters, which let college students to print out their stuff for free with small ads on below, and currently doing another start-up in Korea called Antock, which serves big data of stock market and industry to people so they can make better decision on their stocks and investments. I used to live in Boston and lived with him, so it was not hard to contact him. He told me that my idea looks possible, but would face lots of regulations like what Uber and Lyft faced, the real time program and technology and safety issue. The point he told me was how can we make benefits from this business. I thought that i would make service by ads, but he said i need more specific informat...