Venture Concept No. 1

Venture Concept

Opportunity

The group of customers who have this unmet need are those who want to live a healthy lifestyle and nourish the body. Being a plant-based eater, I personally find it very difficult to find places to enjoy in this community that offer plant-based, vegan, gluten-free, healthy foods. It seems that unless I go to a grocery store myself and put some ingredients together, I am so out of luck. With this personal unmet need, I can't help but believe there may be others out there that would consider the restaurant options in this area as an unmet need for them as well. Whether one is Vegan, Vegetarian, or just wants some healthier options, I feel this is truly an unmet need in the Tampa bay area, particularly in the community of Fish hawk. Fish hawk, Florida is a growing community right outside of Tampa that has most everything you would find in a small city; grocery stores, banks, doctor offices, homes, parks, nature trails, water parks, some chain restaurants, fast food places and so on. Being a community full of families who strive to live a healthy fitness lifestyle, food is a big issue. Fast food places (such as McDonalds, Taco Bell, and Sonic), along with ice cream places, and a few chain restaurants that let's just say are..."eh", make up the food options in this community.

The forces or changes in the environment that contribute to this opportunity is the growing awareness of making better food choices, people wanting to lose weight, and healthier living in general.

This market is defined geographically and demographically as a growing community known as Fish hawk, full of middle to upper class families who are striving to be healthier individuals.

Customers are currently satisfying this need by going to the local grocery stores, attempting to find healthy items that are available, and bringing them home to cook. Not only is time an issue for many working families, but many people don’t take the initiative to research healthy recipes and actually try them, whether because they are use to cooking the same types of meals, or for other reasons. Many people are becoming more conscious of their health and want to do what they can to improve it. Rare Earth Cafe fits into the lifestyle of those wanting to look and feel their best. The loyalty of customers cooking healthy at home is difficult to determine. It appears that most people settle for restaurants that are very health conscious.

This opportunity is big in the sense that Fish hawk is a growing and developing community. The fact that people are becoming more health conscious is also a factor that plays into this opportunity. People want to build a better future for their families, and one’s health is the first place to start.

This window of opportunity will be open until business owners who see the same opportunities as I do, start opening more businesses that offer plant-based, dietary restricted-friendly places.

Innovation

This cafe will offer a unique environment that focuses on supporting nutritional wellness and sustainability for every person who walks into the door. Rare Earth Organics will ensure to select the finest organic ingredients while also supporting local farmers, sustainable agriculture and environmentally friendly products. Each of the menu items will be market price and will vary by item or dish.

Venture Concept

Rare Earth Organics is 100% organic, plant-based cafe that specializes in gourmet cuisines. I want to bring a restaurant to the market that offers creative plant-based cuisine that is both rich in flavor and of course, nutrient dense.

I think customers would be happy to have a dietary restricted-friendly café such as Rare Earth Organics. As I mentioned before I personally find it very difficult to find places to enjoy in this community that offer plant-based, vegan, healthy foods. It seems that unless I go to a grocery store myself and put some ingredients together, it isn’t happening. With this personal unmet need, I can't help but believe there may be others out there that would consider the restaurant options in this area as an unmet need for them as well. Whether one is Vegan, Vegetarian, or just wants some healthier options, customers would benefit from having a place to go such as Rare Earth Organics.

The competitors in this community are slim to none as far as what I am offering. In the surrounding areas of Tampa, there are also few competitors. There is certainly a growing market for Plant-based restaurants in the area of Fish hawk and even most parts of Tampa.

The organization of the business would include hiring plant-based chefs, servers, and (eventually) management. As with other cafés, the production would be similar as far as some equipment. Also, Rare Earth will work with local farmers, products that support sustainable agriculture, and are environmentally friendly.

Secret Sauce/ Unfair Advantage

Hard-working and high energy staff/employees who are compassionate by nature and passionate about holistic health.

The unique gourmet plant-based cuisine

I think my most important resource will be the local farmers and knowledge of the products and industry. The growing appreciation to the farm-to-table concept will be a definite unique aspect to my business, compared to others, particularly in this community.

What’s next for the venture:

The next product that Rare Earth Organics will offer is a superfood trail mix line.

Customers need a healthy snack that they can take on the go.

Adding a trail mix line will enable customers to be healthy on the go! It is a misconception that traditional trail mixes that you find at Publix/ other grocery chains are healthy. Most are highly processed, have added sulfur and sugars, etc. Once these wonderful nuts and berries are processed, they loose their nutritional value. Most of the time people are just eating empty calories and missing out on all the benefits.

This trail mix will offer a variety of raw, organic superfoods carefully selected from different parts of the world that will nourish the body and provide sufficient energy to every consumer.

This product is 100% certified organic, gluten free, dairy free, raw, non-GMO, no pesticides, etc. Most customers gave it a good rating, however, some claimed it to be dry and unenjoyable. The dryness to me sounds like it was expired. Most raw nuts and berries are naturally very flavorful.

In five years I would hope to have Rare Earth Organics all over the nation. I would want to either sell or franchise depending on circumstances. This first venture helps me achieve my vision by giving me knowledge and understanding of what it takes to start up a business.

Amazon Whisperer

• Rare Earth Organics is 100% organic, plant-based cafe that specializes in gourmet cuisines. I want to bring a restaurant to the market that offers creative plant-based cuisine that is both rich in flavor and of course, nutrient dense. This cafe will offer a unique environment that focuses on supporting nutritional wellness and sustainability for every person who walks into the door. Rare Earth Organics will ensure to select the finest organic ingredients while also supporting local farmers, sustainable agriculture and environmentally friendly products. Our revenue drivers is limited right now to the cafe.

• The next product that Rare Earth Organics will offer is a superfood trail mix line.
• Customers need a healthy snack that they can take on the go.

• Adding a trail mix line will enable customers to be healthy on the go! It is a misconception that traditional trail mixes that you find at Publix/ other grocery chains are healthy. Most are highly processed, have added sulfur and sugars,  etc. Once these wonderful nuts and berries are processed, they loose their nutritional value. Most of the time people are just eating empty calories and missing out on all the benefits. 

• This trail mix will offer a variety of raw, organic superfoods carefully selected from different parts of the world that will nourish the body and provide sufficient energy to every consumer. 

• Amazon.com  ----> http://www.amazon.com/Wilderness-Poets-Harvest-Organic-Trail/dp/B00ELNQDNK/ref=pd_sim_325_5?ie=UTF8&dpID=51I173fqcNL&dpSrc=sims&preST=_AC_UL160_SR107%2C160_&refRID=1H4KJGDY1DHNNRAX7AQ2

• This product is 100% certified organic, gluten free, dairy free, raw, non-GMO, no pesticides, etc. Most customers gave it a good rating, however, some claimed it to be dry and unenjoyable. The dryness to me sounds like it was expired. Most raw nuts and berries are naturally very flavorful.

• I would make many changes to the product. First off, I would have a different variety of ingredients. I also would change the packaging, perhaps make a clear pouch so customers can see the product I am offering. 

• As I mentioned before, I think this product would be a great addition because everyone likes to have snacks around to have when they cannot have a meal right away. This would be a healthy option for people who want to nourish their bodies and give them vitamins, minerals, and energy while also curing a sweet tooth. 

Reading Reflection | Week 11

Gary Pisano: You Need an Innovation Strategy (Harvard Business Review, June 2015)

Questions being answered regarding Harvard Business Review

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

2) Identify at least one part of the reading that was confusing to you.

3) If you were able to ask two questions to the author, what would you ask? Why?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

1. While reading Gary Pisano's article in the Harvard Business Review, there were many sections that stood out to me. I personally enjoyed learning about the essential elements for a successful presentation to venture capitalist. This section really goes into depth about the qualities team members must have, as well as the necessities that the product, business plan, and market must have in order to work.

2. I found this article to be very clear and concise. I really didn't have any section that was confusing to me. I enjoyed it!


3. If I were able to ask the author two questions:

1. What would you say is the most important aspect of capital markets?
2. What are the best ways to master venture capitalism?

I would ask these questions in order to hear the perspective of an intelligent writer and also to learn about the author's ventures that lead him to the place he is today.


4. I don't have anything in particular that I felt the author was wrong about. I really enjoyed this chapter and learning about the venture capital market. 

My Unfair Advantage

Rare Earth Organics is 100% organic, plant-based cafe that specializes in gourmet cuisines. I want to bring a restaurant to the market that offers creative plant-based cuisine that is both rich in flavor and of course, nutrient dense. Rare Earth Organics is 100% organic, plant-based cafe that specializes in gourmet cuisines. I want to bring a restaurant to the market that offers creative plant-based cuisine that is rich in flavor and nutrient dense at the same time. I live in the area known as Fishhawk. Fish hawk, Florida is a growing community right outside of Tampa that has most everything you would find in a small city; grocery stores, banks, doctor offices, homes, parks, nature trails, water parks, some chain restaurants, fast food places and so on. Being a community full of families who strive to live a healthy fitness lifestyle, food is a big issue. Fast food places (such as McDonalds, Taco Bell, and Sonic), along with ice cream places, and a few chain restaurant that let's just say are..."eh", make up the food options in this community.

Resources that I already possess: 

• Quick learner 
• Deep thinker 
• My two connections (Santana & Stephanie)
• Plant-based cuisine 
• Compassionate 
• Hardworking 
• High Energy
• Dreamer 
• Determined
• Social media
• local farm to table
• Organic, fresh foods

VRIN analysis

Human Capital that plays into my unfair advantage:

• Quick learner 
• Deep thinker 
• Compassionate 
• Hardworking 
• High Energy
• Dreamer 
• Determined

Other aspects that feed my unfair advantage: 

Santana Iglesias

Santana started her own business with her good friend and partner, Nicole. Santana works with the well known Deepak Chopra, going different health places/restaurants/farms around the world and documenting the experience. Basically she is promoting a lifestyle and filming her experience. She is certainly a valuable and rare addition to this venture.

Stephanie Martin. 

Mrs. Martin is a holistic practitioner, certified nutrition consultant, and yoga instructor. She is incredibly knowledgable and knows so much about the wellness industry. She is also a rare and valuable connection. 

Hippocrates Health Institute (http://hippocratesinst.org if interested) 

Hippocrates Health Institute is a tropical 50-acre setting in West Palm Beach, Florida. Guests from all over the world benefit from health and nutritional counseling, non-invasive remedial and youth-enhancing therapies, state of the art spa services, inspiring talks on life principles and a tantalizing daily buffet of enzyme-rich, organic meals at this wonderful place.The goal of HHI is to assist people in taking responsibility for their lives and to help them internalize and actualize an existence free from premature aging, disease and needless pain.

My top resource for my venture is the connections I've made; (Santana and Stephanie) due to the people/connections they know, as well as their knowledge of the wellness industry.

V

1. Keeps customers returning and makes process smooth 
2. Never stop until perfection is reached 
3. Makes customer want to buy product due to quicker process 
4. Makes company a morally beneficial purchase and helps mankind 
5. Makes transition and purchase easy and efficient 
6. Again helps customers in transition to new model while keeping profits for the company 
7. Allows company to reach all customers and respond quickly 
8. Always keeps systems working and customers happy 
9. We will be only company like us in the market 
10. Furthers the company and ideas always and extensively 

R (1-10 (rarest) --(Scale)

1. 5
2. 10
3. 10
4. 5
5. 7
6. 6
7. 1
8. 19
9. 8
10. 10

 I (1-10 Scale, 1 being easiest to imitate)

1. 1
2. 10
3. 7
4. 8
5. 3
6. 1
7. 2
8. 10
9. 9
10. 10

N (1-10 Scale, 1 is very substitutable)

1. 10
2. 1
3. 5
4. 3
5. 4
6. 8
7. 7
8. 1
9. 10
10. 10

Growing My Social Capital

My Networking Experience

_____________________________________________________________________________

The domain expert in my industry is a woman named Santana Iglesias. Santana started her own business with her good friend and partner, Nicole. Santana works with the well known Deepak Chopra, going different health places/restaurants/farms around the world and documenting the experience. Basically she is promoting a lifestyle and filming her experience.


Expert in my field: Stephanie Martin. Mrs. Martin is a holistic practitioner, certified nutrition consultant, and yoga instructor. She is incredibly knowledgable and knows so much about the wellness industry.


Important supplier in my industry: Hippocrates Health Institute ---> http://hippocratesinst.org
Hippocrates Health Institute is a tropical 50-acre setting in West Palm Beach, Florida. Guests from all over the world benefit from health and nutritional counseling, non-invasive remedial and youth-enhancing therapies, state of the art spa services, inspiring talks on life principles and a tantalizing daily buffet of enzyme-rich, organic meals at this wonderful place.The goal of HHI is to assist people in taking responsibility for their lives and to help them internalize and actualize an existence free from premature aging, disease and needless pain.



Domain Expert: Santana Iglesias 

Market Expert: Stephanie Martin

Supplier: Hippocrates Health Institute 

How I found the person and contacted them: Santana, I met her through a very good friend. We were talking about the wellness industry and Santana's name came up. I contacted her through social media. Stephanie I met at one of the yoga studios I go to. I initiated conversation one day to ask a few questions, and we got along from there.

Nature of exchange: I volunteered to help Stephanie with a local event in order to do a favor. In exchange she gives me an abundance of free information. Santana has become one of my good friends.

Reflection: 

I really enjoyed this exercise. I think it is very important to practice targeted networking. I also learned during this exercise that my domain expert, Santana, used 'target networking' in order to be in the position where she is now. That was very inspiring to me! I felt that this was an incredibly useful exercise. 

Reading Reflection | Chapter 11

Kuratko Chapter 11 (Financial Preparation for Entrepreneurial Ventures)

Questions being answered regarding Chapter 11:

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

2) Identify at least one part of the reading that was confusing to you.

3) If you were able to ask two questions to the author, what would you ask? Why?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

1. While reading Chapter 11, there were many sections that stood out to me. I personally enjoyed learning about the essential elements for a successful presentation to venture capitalist. This section really goes into depth about the qualities team members must have, as well as the necessities that the product, business plan, and market must have in order to work.

2. I found this article to be very clear and concise. I really didn't have any section that was confusing to me. I enjoyed it!


3. If I were able to ask the author two questions:

1. What would you say is the most important aspect of capital markets?
2. What are the best ways to master venture capitalism?

I would ask these questions in order to hear the perspective of an intelligent writer and also to learn about the author's ventures that lead him to the place he is today.


4. I don't have anything in particular that I felt the author was wrong about. I really enjoyed this chapter and learning about the venture capital market. 

Elevator Pitch No. 3 | Revising & Reflecting

Rare Earth Organics is 100% organic, plant-based cafe that specializes in gourmet cuisines.

As I mentioned in my first pitch, Fish hawk, Florida is a growing community that is located close to the heart of Tampa. This community is continuing to develop and already has most everything you would find in a small city; grocery stores, banks, doctor offices, homes, parks, nature trails, water parks, some chain restaurants, fast food places, etc.

I see many people in this town striving to be health conscious and live an active lifestyle with their families. Being a community full of families who strive to live a healthy fitness lifestyle, food is a big issue. Fast food places (such as McDonalds, Taco Bell, and Sonic), along with some ice cream places, and a few chain restaurant that let's just say are..."eh", make up the food options in this community.

As a plant-based eater, I personally find it very difficult to find places to enjoy in this community that offer foods that fit my dietary needs such as plant-based, vegan, gluten free, non-processed healthy foods. With this personal unmet need, I can't help but believe there may be others out there that would consider the restaurant options in this area as an unmet need for them as well. Whether one is Vegan, Vegetarian, or just wants some healthier options, I feel this is truly an unmet need in the Tampa bay area, particularly in the community of Fish hawk. That is why I created the idea of Rare Earth Organics Cafe.

I want to bring a restaurant to the market that offers creative plant-based cuisine that is both rich in flavor and of course, nutrient dense. This cafe will offer a unique environment that focuses on supporting nutritional wellness and sustainability for every person who walks into the door. Rare Earth Organics will ensure to select the finest organic ingredients while also supporting local farmers, sustainable agriculture and environmentally friendly products.

Note: I have been recovering from being sick, so forgive my pitch isn't as dynamic as I would have liked. 

Thanks for watching!

Reflection:

  Most of the feedback I received was positive, as many students can relate to wanting healthier/dietary restriction options even in their areas and on campus. Although I don't have five that came up, one thing that was mentioned that I am highly considering incorporating into my business is having a few healthy grass-fed meat options in order to attract more customers and be more diverse. My cafe will be mostly plant-based, and offer the highest quality in every aspect of the food ingredients, whether it be a vegan dish or a meat option. That is how I will incorporate the feedback into this idea napkin.

My Secret Sauce

Five aspects that make up my human capital 

• Quick learner 
• From a young age I have always been a creative thinker and quick learner. I could pick up things and easily figure them out. One time I even hooked up the house phone lines in every room of our home when I was about nine years old, after being shown how to just once by my uncle.
• Deep thinker and Compassionate 
• I have an appreciation for genuine, real people. Those who are true to themselves and what they believe in. "Let the world know you as you are, not as you think you should be, because sooner or later if you are posing, you will forget the pose, and then where are you?" I also enjoy helping others and finding solutions to problems.
• Hardworking and High Energy
• I push myself and work until the job is done. I am not one to put things off and I'm a firm believer in not putting off until tomorrow what you can accomplish today.
• Loyal
• I am an extremely loyal person to those I love and feel the same in return.
• Dreamer and Determined
• I manifest my own destiny! When I want something badly, I go after it indefinitely. I know what my dreams are and there isn't a person in the world who can change my mind when I have my heart set on something.  

Interviews

This is my sister, Heather. We grew up very close and she is my best friend. I took away that I'm a good people reader, tech savvy, and very emotionally stable.

My mom is camera shy so I had to do a voice interview. I was actually impressed at how many of the same human capital aspects my mom pointed out as I did in my five. She touched on a lot of things that I mentioned in my list. 

This is one of my very good friends from high school. Austin has known me for at least 10 years! I took away that he seems me as compassionate, dedicated, and responsible.

A phone interview from my dad because I was able to get with him in person. I took away that I am skilled with figuring things out and a driven individual. 

These are four people who know me best. My other good friend live/vacationing out of state (for their spring break) at the moment so I was unable to interview them with the time difference  Once I am able to get a video interview I will upload it as well. :)

Thanks for watching!

Reflection

As I reflect on the differences, I really could not find many. I feel that I see myself very similarly to how those closest to be view me. I do think my interviewees are correct about what they said. The only corrections I would make to my list was adding what my sister said about being a good people reader.  

Reading Reflection | Chapter 10

Kuratko Chapter 10 (Marketing Challenges for Entrepreneurial Ventures)

Questions being answered regarding Chapter 10:

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

2) Identify at least one part of the reading that was confusing to you.

3) If you were able to ask two questions to the author, what would you ask? Why?

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

1. While reading Chapter 10, there were many sections that stood out to me. I personally enjoyed learning about the essential elements for a successful presentation to venture capitalist. This section really goes into depth about the qualities team members must have, as well as the necessities that the product, business plan, and market must have in order to work.

2. I found this article to be very clear and concise. I really didn't have any section that was confusing to me. I enjoyed it!


3. If I were able to ask the author two questions:

1. What would you say is the most important aspect of capital markets?
2. What are the best ways to master venture capitalism?

I would ask these questions in order to hear the perspective of an intelligent writer and also to learn about the author's ventures that lead him to the place he is today.


4. I don't have anything in particular that I felt the author was wrong about. I really enjoyed this chapter and learning about the venture capital market. 

Idea Napkin No. 2 | Feedback Memo

Questions being answered:

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
_________________________________________________________________________________

1. As I've mentioned in my first idea napkin post, my name is Rebecca Marra, I'm incredibly passionate about yoga and overall nutritional wellness of the body. My company is Rare Earth Organics Cafe. Rare Earth Organics is 100% organic, plant-based cafe that specializes in gourmet cuisines. I want to bring a restaurant to the market that offers creative plant-based cuisine that is both rich in flavor and of course, nutrient dense. 

2. Rare Earth Organics is 100% organic, plant-based cafe that specializes in gourmet cuisines. I want to bring a restaurant to the market that offers creative plant-based cuisine that is rich in flavor and nutrient dense at the same time. 

3. I live in the area known as Fishhawk. Fish hawk, Florida is a growing community right outside of Tampa that has most everything you would find in a small city; grocery stores, banks, doctor offices, homes, parks, nature trails, water parks, some chain restaurants, fast food places and so on. Being a community full of families who strive to live a healthy fitness lifestyle, food is a big issue. Fast food places (such as McDonalds, Taco Bell, and Sonic), along with ice cream places, and a few chain restaurant that let's just say are..."eh", make up the food options in this community.

4. Many people are becoming more conscious of their health and want to do what they can to improve it. Rare Earth Cafe fits into the lifestyle of those wanting to look and feel their best. 

5. Many aspects set Rare Earth Organics apart. First, being plant-based and healthy (being the only one in the area). Also, this cafe will offer a unique environment that focuses on supporting nutritional wellness and sustainability for every person who walks into the door. Rare Earth Organics will ensure to select the finest organic ingredients while also supporting local farmers, sustainable agriculture and environmentally friendly products.

_________________________________________________________________________________

Each of these elements fit together and cater to those who want to live a healthy lifestyle and nourish the body. Being a plant-based eater, I personally find it very difficult to find places to enjoy in this community that offer plant-based, vegan, healthy foods. It seems that unless I go to a grocery store myself and put some ingredients together, I am so out of luck. With this personal unmet need, I can't help but believe there may be others out there that would consider the restaurant options in this area as an unmet need for them as well. Whether one is Vegan, Vegetarian, or just wants some healthier options, I feel this is truly an unmet need in the Tampa bay area, particularly in the community of Fish hawk. 

_________________________________________________________________________________

Feedback Memo

Most of the feedback I received was positive, as many students can relate to wanting healthier/dietary restriction options even in their areas and on campus. Although I don't have five that came up, one thing that was mentioned that I am highly considering incorporating into my business is having a few healthy grass-fed meat options in order to attract more customers and be more diverse. My cafe will be mostly plant-based, and offer the highest quality in every aspect of the food ingredients, whether it be a vegan dish or a meat option. That is how I will incorporate the feedback into this idea napkin.