Byung Choi's Blog

2) This is my first business class and I've learned a lot, I have a much better perspective of the business world and how my own venture idea ties into it. Learning about customer segmentation and finding my ideal customer profile was the most formative for me. One thing that the professor said is that you can't sell your products to everyone on earth, that hit home with me. The most joyous experience for me was the professor's online lectures, always fun and informative, it was something I looked forward to. What I'm most proud of is how through this class I've gained a much more realistic perspective on how it would be to own and run my own business, and how that's guided me to form my own concepts. 3) I believe I've gained a much better understanding of what makes a successful entrepreneur, and that while I still have a long way to go before I'd consider myself one, I do feel that this course helped me gain the right mindset.  4) For the futur...

Under the last photography studio, I worked for, It was sold and bought twice while I was with them. And apparently, the original owner sold the company to the people who hired me after 18 years of operating the studio. To me, it always seemed like a "take the money and run" type of deal, in which they never looked back. I'd like to think I'd show a little more resolve to stand by my company when that time comes, but who knows what your situation will be by that time. I like the idea of passing the company down through my family, or at least a close friend who I know will keep the spirit of the company alive. I believe that my idea about an exit strategy would lead me to hire the right kind of people that share the same mindset about the company, look for ways to expand and branch out with multiple locations, and work hard to gain a local reputation or even a national one.

Coco Chanel by Lisa Chaney 1) What surprised me the most about Coco Chanel is that she had a challenging childhood growing up. She lost her mother when she was 12 and her father put her in an orphanage. I could understand her father may not have been able to take care of her as he had a job. However, I can't imagine how she must have felt in such an unstable environment for 12 yrs old girl. So I truly admire her in her childhood, because, in many ways, she is a strong person. The reason why she grew up to be successful is that even at a young age, she was determined to not let her harsh environment decide how her life is. The least thing I admire about her is that she was in love with a Nazi officer, Hans Gunther, who was a German writer who has a major influence about Nazi racialist thought. I was a bit disappointed with her choice of her lover. 2) I say one of the competencies she has is she is a queen of innovative creation. She is a good listener as well, so she understoo...

1. This experience of mine has been going on more than just this semester. There is this dream career that I always wanted to have. I always wanted to work in one of the Middle Eastern airline companies.  So in the past 7 or 8 years, I've been applying for this position for this particular company more than 15 times. (Please bear with me leaving the position and the company name blank) And this semester I had another chance to go to the company's recruitment event in Orlando in February. Unfortunately, they didn't proceed with me further even though I gave my very best.  2. and 3. Other people around me tell me that is some dedication I have towards the company who rejected me this many times in the past. It was really painful to experience rejection from the company that I truly want to work for life. So every time it happens, I didn't deal with it well. I felt like the whole world is ending, and I felt like my life has no mission and I felt that I was the ultimate...

Existing Market: Step 1: What's next for my photography business? I just want to carry on with the plan that I have for the business which is to offer regular photo services such as weddings and family portraits, and special service such as 20 min mini photo shoots for $50. Step 2: Interviewee 1- she recommended having a system set up to have a more impersonal way to book a session. And maybe give customers a confirmation call or email several days before the shoot. She said people, especially millennials these days don't want direct interaction, especially by phone, with the business. They like an impersonal way to book anything online. Interviewee 2 - she wishes the business offers a free retouch request for customers who do the full session. Before the editing begins, if a customer has a small preference such as sliming down their body figures, or erase imperfections in their face,  he/she can request for additional editing for free. Interviewee 3 -...

List of My Business's Resources: 1. I have professional photography equipment, thus I have less startup cost - it is valuable, you can't take photos without. Professional cameras and photo equipment are expensive, so it's not the same as regular cameras. Not inimitable. And there aren't other cameras that are as good as a professional camera.  2. I have a special photo session package that makes it attractive for potential customers such as $50 mini 20-minute photo shoot session.  -it's valuable, it can be used as a distinction between other vendors. It's rare, I don't see other vendors do it. It is unfortunately inimitable. It's not substitutable because others are not offering it.  3. I, myself, am an important human capital and an asset of the business because I will personally shoot the photos, thus I don't need to hire a photographer.  -Yes, I'm valuable, because my photo skill is the core business asset. Photographers with ...

Cognitive Surplus  by   Clay Shirky 1. The general argument of Shirky's book is that Cognitive surplus around the world is so big, even a small change in behavior can result in a whole lot of big consequences. Basically, Shirky's overall message is that the world would become more of a better place if individuals around the world can devote their spare time and power to do something worthwhile. 2. To be honest, I had a hard time making a bridge between the idea and this course. I hashed over how cognitive surplus can help me better my entrepreneurship. But I realized that the book talks about the potentials of all the wasted or leisure time of individuals and this potential can create something valuable over time if time is well spent. As an entrepreneur, time is a very valuable commodity to your business and it made me realize if I manage my time more wisely, I can contribute more to the business. 3. There was an interesting study conducted by Shirky; I want ...

2. I only got one feedback for my second pitch and I got a positive one. The viewer appreciated that I talked about my own experience showing how relatable I am to potential customers. Also, the viewer said that talking about the price of the service was important as other pitches did not have. 3. Since I only got one positive feedback, I didn't have to change in the content of my pitch, however, I practiced several times to improve my presentation and attitude. I wanted to be as confident as I could and I want viewers to feel my positive attitude and confidence. So this time, I gave my very best to get out of my comfort zone to push myself to be very confident. I want to look and sound like I know what I'm doing and I have confidence in my business.

Person No.1                 Kimber has experience of running a photography company for more than 3 years. She does shooting as a photographer and her husband operates the business. Thus, she is my domain expert. When I moved to Gainesville, I was looking for any open photographer position, so I started to make cold calls to studios around Gainesville. When Kimber and I started talking, we clicked instantly. She never thought about having an assistant photographer, but with the growing business of hers, she wanted to consider hiring me. In the end, I didn't end up working for her but she wanted to meet in person over dinner and help me network with other photographers and business in town. She was kind enough to take me to a local networking event and introduced me around to several business owners. Since I was new to the town, getting to know someone like Kimber who has shot here for the last two years and now has a fairly strong clientele ...

1. Who you are:   I'm an artist, even at a young age, I displayed a natural talent for drawing and art in general, combined with my love for the outdoors it wasn't long before I took interest in nature photography, running around with my dads old Nikon film camera, taking pictures of any animal I could find. Fast forward to the present, although my passion started so long ago I'd only consider calling myself a photographer for about the last 10 years, 3 of which I've worked professionally. 3 years ago I started working for a wedding and portrait studio, since then I've photographed close to 100 weddings, hundreds of family portraits, headshots, corporate events, products and much more. Along with the invaluable experience it gave me behind the lens, it also gave me real-world knowledge of how a studio functions, client interaction, order procession, marketing, and much more.  2. What are you offering to customers?: I'm offering a general photography service ...

https://youtu.be/-XatOuzADoM 2. One of the comments I received that meant most to me is that one of my group members said he/she liked how comfortable I am in the video. That showed my confidence and assurance in my presentation for my audience. I truly appreciated this comment because I usually get nervous when it comes to public speaking but I feel that I'm slowing overcoming the issue. 3. One of the other feedback that I appreciate is that he/she was being honest about the running time of my pitch which took longer than 90 seconds. So this time, I made sure that I get to the point sooner rather than later and I tried to stick to the time limit. I cut out some parts of my speech to do so, but I'm concerned if I didn't get my points across clearly to my audience because of that.

The customer segment I choose to use is girls in their mid to late 20's attending college, who are about to graduate. They are at a very exciting time in their life, after working very hard to finish school and move on to the next stage in life. It's not only important to them, but to all their friends and family as well. Photos of this time in their life would be special to everyone, and most wish to entrust this task to a professional, someone who can really showcase the emotion that surrounds them and their friends at that moment as vivid as they remember it, years later looking at those moments on film can bring back all the memories they made in that town, and in that school. Here are some more details about my clients. Probably driving a hand-me-down car from mom and dad, Subaru, Honda Accord or CRV, hobbies include running, art, dance, swim, coffee, memes and reading. Grew up with supportive parents and high aspirations for the future, and always involved...

a) A lot of clients usually are not confident about taking photos. Before the sessions, they are ususally apprehensive about how their shoot will go down. In this case, I can help clients feel at ease and confidently direct them in a way that they can have fun.  b) I know how to utilize the environment so I can direct clients to the most photogenic environment, so their photos have a quality natural setting.  c) More than 3 years of experience in photography industry, I have exellence in technical proficiency and I know how to utilize all my photography equippment.  d) I don't pursue good customer service, I pursue exceptional service that goes above and beyond. I want to make my clients happy at the end of the day and I want them to feel wow at the final result. I've gained years of experience in customer service.  e) I belive I have what it takes to perform well under pressure. During high pressured event such as wedding, where a lot is at stake. Keeping a...

Based on the interview, I was able to get a grasp of the buying patterns for my potential customers. Unsurprisingly, price and quality were two of the important deciding factors for all the interviewees. Also one interviewer mentioned that the relationship with the photographers and the studio is equally important as well. It's important to have a photographer who is good with kids, who makes them comfortable. So, for the reccuring photoshoot in the year after, they know exactly where to go. One interviewer said, even if they find a photographer with an attractive price, if the quality of photo suffers, they wouldn't even consider using the service. One interviewee said every photographers have different styles when it comes to shooting and editting, and if the final results doesn't reflect her style, then she wouldn't use the same photographer again. That's why looking at the portfolio of the photographer you want to work with is important. Instantly, you can see w...

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future I enjoyed reading this biography. It gave more outlook on how he came to his succession. I can relate to his values and belief in his personal life and for his business. What surprised me the most was that he was one of the founders of Paypal. I use this service often and I appreciate how it makes my life easier. If I have to pick one of his traits, I admire his never-giving-up spirit. I believe he can persevere any hardships that come into his life. And his rough childhood like parental divorce and getting bullied is one of the evidence that he is a strong person that he can overcome challenges. The part that I least admire is the recent time when he conducted an interview smoking marijuana; that was a bit unprofessional if you are in the position of representing a company. As his career progressed, he had moments of bankruptcy in his previous companies, but he didn't give up. He went out of his way to overcome that ...

1)  Being your own boss is the key to success not only in this course but any other online courses. ENT 3003 is not a tough course, prof. Pryor's lectures are fun and easy to understand and he's straight forward about assignment guidelines. However, if you don't manage your time or do not have dedicated hours to work on this course throughout the week, you won't go far. In the first week, you may be overwhelmed by the course information and expectations, but once you get the hang of it, you're golden.  2)  I know one of the characteristics of being a successful entrepreneur is to be brave and fearless, because you may be stepping into uncharted territory. Asking random individuals for an interview was somewhat of a challenge for me. It could be nothing for some people, but something about approaching someone to ask about their opinion was daunting. I suppose I was afraid to be rejected or be judged by them. A funny thing happened, I asked a random female student ...

My segmentation is growing families with toddlers on a budget. The 3 individuals I interviewed were 1) an Afro American family with 2 young children, 2) a family with a 6-month-old infant and 3) a family of 3 with 2 years old toddler.  I found in all cases these families would use the service. All 3 families need for a session centered around special dates like the children's birthdays or anniversaries. Family No.1 first choice was to shoot at the beach location wise. Family No.2 and 3 wished for a foresty area such as a park. Ideally, portrait shoots are done in the evening hours just before sunset and none of the families were opposed to that unless they have specific time planned for an event such as a birthday party during the day time.  The first thing they do is to search online to find a local photographer and start comparing prices and styles. One family mentioned that they always check if any local photographers offer a Groupon or Living Social service firs...

1.  I'm an artist, even at a young age, I displayed a natural talent for drawing and art in general, combined with my love for the outdoors it wasn't long before I took interest in nature photography, running around with my dads old Nikon film camera, taking pictures of any animal I could find. Fast forward to the present, although my passion started so long ago I'd only consider calling myself a photographer for about the last 10 years, 3 of which I've worked professionally. 3 years ago I started working for a wedding and portrait studio, since then I've photographed close to 100 weddings, hundreds of family portraits, headshots, corporate events, products and much more. Along with the invaluable experience it gave me behind the lens, it also gave me real-world knowledge of how a studio functions, client interaction, order procession, marketing, and much more.  2. I'm offering a general photography service as well as special service. For example, general phot...

P.S. Could you kindly watch my video on the Youtube page? You may be able to increase the sound there better. Thank you.

The Opportunity " UF students on a budget have a hard time finding accessible, affordable, and quality photography services because the average full photography sessions are generally costly." Who: After conducting an interview, there certainly were potential customers who may benefit from using my service but fall outside the boundary. What: There were students whose parents were willing to pay for a full-priced photography portrait session for their graduation portraits. They also were willing to pay full-priced session with a full hr for a special occasion such as graduation. And there were students who thought of getting resume photos either with their own digital camera with a help of their friends or just go to drugstores to get their photos taken. Some of these students did not care about the quality and craftsmanship of a custom photoshoot can provide but they rather prefer to get the cheapest way to get their resume photos through drugstores. Why: It is n...

My solution to this opportunity is ......                    to start a local photography service that offers 20-minute mini photo sessions targeting mainly the large populations of students and graduating students in Gainesville as well as anyone else that wishes for a service that offers 5 to 10 photos for a low price. My ideal price for the service is a $50 session fee that includes 5 photos and additional photos can be purchased $10 each whereas other known local photographers only offer the normal hour-long photography service starting from $150 up to $400 just for the session alone and images are purchased separately. In this way, I've found a niche market for people who want quality photos on a student budget. The reason why photography studios charge this amount of money is that they have a physical location and employees to pay. In my case, I'm working alone, I own all of my professional equipment and editing softw...

1. The Opportunity "UF students on a budget have a hard time finding accessible, affordable, and quality photography services because the average full photography sessions are generally costly. 2. Who : UF students, mostly who are graduating soon because most of them want to take graduation photos     What : Not having a go-to photography service that fits with a student budget     Why : Because many photography services with quality photos can cost a lot. 3. The Hypothesis The who: although this is mainly targeted at students in Gainesville, families with a tight budget who may want a small family session or a small event can use the service. The what: Not every student or family would need a photography service. For graduation photoshoots, it is seasonal. The Why:  For UF students who are about to graduate, it is a very important moment in their life and many wish for professional photos of that special moment that captures who they...

Opportunity 1 :   Manufacture or supply biodegradable single-use products a) According to Transparency Market Research , the biodegradable plastic bags market is expected to grow with the compound annual growth rate of 6.9% over the period of 2017-2022 ( https://www.transparencymarketresearch.com/pressrelease/biodegradable-plastic-bags-sacks-market.htm ). These single-use bags may be made out of entirely different materials such as root vegetable, thus plastic can be eliminated in the entire process of manufacturing these single-use bags. More than ever, the global community is aware of the environmental implication of using plastic bags. And more consumers are making an effort to make less plastic waste while they shop, one of the ways for consumers to make this effort is to bring reusable grocery bags to markets. b) More and more cities, states and countries are creating a regulation to ban or to tax the usage of plastic bags. New York may pass a law that bans single-use plas...

Opportunity 1 "Volunteers Fan through the city to tally Homeless" https://www.gainesville.com/news/20190123/volunteers-fan-through-city-to-tally-homeless Description of the Story:  Mark Watson, co-chairman of the survey company, who got hired by the city to go over the approximate numbers of homeless individuals in the city. The religious community of Gainesville has been providing some aid, by providing household items such as shampoo, soap, snacks, and socks. The article also talks about one female homeless person, Paige H., and how she wants to save enough money to go back to her home state, Maine, and start a project where she can turn a cabin into a commune for people who live off of streets. Description of the Problem: I believe Paige is working toward a good cause, however, she needs to find a way to maintain the commune property in order for her project to work. It's important for Paige to find a way to collect a minimum amount of money from those who will...

1. My Beginning Point: There aren't many healthy food options within the university campus.  2. Describing My Belief: First:  There are numerous food vendors within the campus, but the majority of them are fast food chains. P.S. I have never seen a concentration of these many Chick-fil-a locations on campus in my life.  Second:  I strongly believe many students and  the school associates   are conscious about what kind of food they put in their body and they want better access to healthy food options. Third: Personally, I've only been an on-site UF student for 5 months, therefore, I wouldn't know if there were more varieties of food vendors on campus in the past. However, I assume, that's not likely true.  Most of the time, I do not have time or resources to pack my own lunch in the busy morning and I feel that many students feel the same way, and when I'm on campus looking for a healthy food option, I have a very hard time fi...

               I've never have taken any business related courses in UF and I'm quite excited to explore this field of study. Not having any basic business backgrounds, I was a bit hesitant to take this course first, but I think I'll learn a lot from Dr.Pryor. There are a few reasons why I want to study entrepreneurship, and one of the reasons is that my ex-boss inspired me to explore the option being the boss of my own.                 About 2 years ago, I worked for a small scale family-based investment firm in Naples FL. Our firm gathers private investors and trades their capital in the futures markets to create profit. The firm was only run by a handful of individuals, however, Mr. Monaco Billion, who is the CEO and the master trader of the firm taught me the importance of trading and running my own business.                 Mr. Billion had ...