27A - Reading Reflection No.3

Cognitive Surplus

1. The general theme of the book is explains what we really use our free time for. It explains that social media has given a platform to people who have never had a chance to find their true artistic ability. This in turn has allowed many people to self-actualize. It explains the difference between creative and consumptive activities and it aims to explain why collaboration is one of the greatest tools. It also tries to tell you that not everything has to be used for what it was created for. An empty swimming pool is usually built for people to swim in it, but that doesn’t mean that skateboarders can’t use it to have fun. The same goes for social media. We don’t have to use it by consuming only, we can create and express ourselves.

2. It definitely connected with what we have learned about the collaborative spirit in this class. There are many things that we need to learn alone and even more that we have to learn together. I think it also really connected with the creativity aspect of this class. It talked about how we all have innate desires to create and the ability to express ourselves. Whether this is a thought, feeling or idea, we can bring it to life.

3. I would give people a blank social media and I would ask them to fill it up. That would require them to pick a theme that’s consistent. I would then ask them to create the content and post it. I would give them the option of working alone or with others. I would have them judge each other’s accounts after a month and see who they think has the most influential account.


4. My biggest breakthrough was realizing that I was utilizing a lot of the techniques and aspects described in this book. I have been taking this corona virus time to really create the life I want to live and to bring my ideas to life. I want to be able to say that I used my time wisely. I am really using the technology and social media I have, to help others as much as possible. I have really been practicing my creative skills as well, and have not been giving into distraction.

28A - Your Exit Strategy

1. I plan on growing my recording studio for a c couple decades. I think it may be possible that I sell the business, but I don't think it is as feasible to sell this as it is for other companies. There isn't any IP that is really being sold. The most important and unique feature of this company is the equipment and people working it. I could see myself doing this for a long time, growing the studio to the point at which there are many customers and possibly entering the industry of VR. After this I could see it becoming a label possibly, promoting artists. I do not plan on passing this down to my children, but now that I think of it, that is a possibility for sure.

2. I selected this exit strategy because I want to see this company progress myself. I want to help many upcoming artists, and I want to see them succeed. This isn't about money to me, it is about making a positive impact in the music world. I want to give other people the chance to create their content without being ripped off in terms of cost. I would also love to help my children make music as well.

3. I think my exit strategy has reflected in the ways in which I picked my team. I chose people who I knew I wanted to be in my life for a long time. They are all really good friends of mine and I trust them all. I do not want them to feel like it is a temporary job, but rather a hobby that pays them. It definitely influenced how I plan to grow the company. I am taking a slower, steadier route in growth. I want to have everyone feel as though they are working and living through their passion. The goal is to self-actualize, not sell the company and get out of it.

26A - Celebrating Failure

1. This semester, I started to really get into music production. My friend was the first one to show me how it worked. When I first started, it seemed so difficult and confusing. I really didn't understand it at all. I started watching YouTube tutorials and I learned a bit, but it was still so confusing when I would actually be on the software. I then started to teach myself through Logic Pro X. I failed so many times and created some of the worst music I have ever heard. There was a lot of trial and error. When I would show people my early music, they wouldn't really have anything to say. They mostly just said I had a long way to go. It took many months until I finally started to get the hang of it. After so many failures, and so many horrible compositions, I finally started learning music theory.

2. I learned that I never actually failed. Just like Edison, I found thousands of ways that sounds don't sound good together. This helped me greatly in finding the ways in which it does sound harmonious. Also, every time someone would give me bad feedback or critique my music, I learned to use it as motivation and really listen to these people. I had to realize that these people just wanted to help me get better. I started to appreciate the critiques more and more, as I also got inspired by every time I created something I didn't like. It just made the music I did like, sound so much better.

3. I learned how to accept failure early in my life through sports. I played water polo and I had a very expressive, strict coach. He would yell at me for everything I did, even when I did something right. This made me grow some thick skin, and I learned to overlook failure and instead look to progress. I was no longer disappointed or embarrassed by failure, all I focused on was improving myself. This carried into everything else I did. It helped a lot in my businesses, and it definitely helped a lot in music as well. You need to relax the fear and insecurity that comes with failure sometimes. This class taught me that failure feels a lot better than regret. It is much better to at least try, than wish we did later on. I have learned this from a lot of the people I interviewed.

25A- What's Next?

Existing Market:

We will be including music videos in our services provided, that is what is next for our company. I then interviewed three people in this existing market and explained to them my venture concept and then started asking them questions in relation to what they think should be next. 

After listening to their feedback, they all agreed that I needed to expand the team I have in relation to the music videos. Two of them believed that it was more crucial than the music itself, since a lot more streams and views go into music that have videos to go along with it. I told them my idea of intertwining all three services together and they agreed that it was a good idea, but I have to be prepared for a high demand in music videos. 

They told me to make sure that I have enough people for the music production side as well, but they really wanted me to focus on the videography. I definitely agree with their feedback, because I have noticed that music videos are a trend, and a lot of them are pretty cheap to shoot. They don’t require many props or costs, so doing them is relatively easy as well, the reason most people don’t do it themselves is because they don’t have the equipment. 

New Market:

The new market I could see us getting into is that of virtual reality. I see there being a very large opportunity in that industry, because it is just another novel platform for content creators. I think it could revolutionize music and music videos. 

If we were to go into that industry, I would have to hire programmers and VR coders that could create the content and visions of our customers and put it into virtual reality. This would have a lot more costs than just shooting a music video, but I feel that there will be artists willing to pay for their music and content to be next level. 

I told two people the idea and how we plan on moving forward and they told me some valuable advice. They told me to keep working on this idea and make connections. They said to go to virtual reality companies and find people who already know how it works and are already experienced in those fields. Pitch the idea to them. They also told me to keep doing research.

A lot surprised me in this activity, because I had never really thought of intertwining virtual reality with music videos before, but I realized it is completely possible. I think the key is just getting the right team together, that’s the most important piece to the puzzle. I do agree with my interviewees though, when they told me to focus on connections. Building a large network is essential to moving forward.

I also agree with the interviewees in my existing market, who told me that I needed to expand in the music video department. I think that will be the first to blow up, and then anything with virtual reality will follow. I think there will be less of a platform for VR until it becomes more mainstream, but when it does, I think it is going to be the next biggest thing.

24A- Venture Concept No. 1 - Trust

My venture concept stems from a very open opportunity that I discovered while in college. I started off writing and freestyling music, but I needed a sound engineer to have an instrumental to put my words onto. It took me several months to find someone that did that, and when I did, they ended up moving out of the state. I eventually found someone that didn’t engineer instrumentals, but could record my lyrics and I was very content. This was until I heard the final product and realized that he was not professional at all. I understood at that point that quality is a major factor in music production. This was around the time that I discovered the open opportunity. I wanted to not only engineer instrumentals for musicians, but I also wanted to help record people’s lyrics as well. This was the start of my journey in developing Trust and seeing how all the pieces come together. The first thing I did was think of the demographics. I wanted to understand who else has these problems and desires. I found out that there are many other people who want to make music as well. Even better, many of those people do not know how to make the music, they only know how to write the lyrics, just like I did when I was starting out. This is around the time that I started learning how to make instrumentals and record. My friend Nico was actually one of the first people to get me into it, and he taught me a lot of the basics. I saw that he had all of the equipment necessary to start recording, mixing and mastering. This intrigued my interest. I wanted to learn how to do all of that, but I also knew that time was crucial to getting this idea off of the ground. This is the point where I asked Nico if he would be down to start working together and creating a mini studio for people in South Florida. He told me that he thought it was a good idea and that he was all for it. At this point, we started writing up our business plan and we had to come up with a marketing campaign. We did it, and then came the act of getting all of the equipment together. This required a strategy as well, because we had to create an environment friendly to the customer, but also comfortable to us. Luckily, Nico already had all the equipment and we both had the skills necessary to move forward at that time. Our next biggest pivot comes then. 

We started thinking more into expanding the brand, and we located another opportunity right in front of us. It was that of music videos. Music videos were such a big part of the music culture and we really believed it was the next step in making Trust an even more valuable company and brand. We both knew how to make music, but neither of us knew how to make music videos though. We knew that we had to outsource for this skill and it just happened to fall into our laps. I was working with someone who had a company at UF called Roblex. They offered many different videography options and would do small films, ads, and videos for a price. We realized that all of their employees were experienced videographers and this made us realize they would be perfect for our position. We needed someone who could make videos and act as a contractor. They didn’t have to be with us while we were making the music, but we needed them when someone would request a music video. They would then come, hear the vision of the customer, and recreate that vision with a bit of their own twist. This made us a triple threat. There are many studios that record, mix and master music. There are fewer studios that record your music and offer instrumentals. There are even fewer studios that record, offer instrumentals and create music videos in one. We knew that we were onto something, we just had to pitch the idea to our videographer and then our team would be all set. 

The venture concept had then arose. We were an all around production company, focused on music, but also providing video services as well. This really helped set our foundation, and it was the beginning point of everything to come. We then all three started brainstorming on how we would market ourselves. We thought it would be in our best interest to offer many discounted deals. We started with buy one, get one free instrumentals, and then we moved onto the refer-a-friend program. That was one of our best ideas, because it helped expand our customer base, retain previous customers, and it gave our customers a bonus for referring us to other people. It was a win win for everyone involved. From this point on, we knew we had to reach people through different platforms. We started on IG, Twitter and Facebook. We started making stickers with our information and logo on it and we started sticking it in different places that we knew our demographic frequented. This gave us our initial first impression, and our discounts and programs started really taking shape. Once we started, it became clearer what our mission was. It was to give people an opportunity that they didn’t have previously in content production. We wanted to allow people to express themselves in whatever way they envisioned. We knew that most people didn’t have the equipment or the skill set needed to create and record music, as well as make music videos, so that was our speciality. We made that the bread and butter to this venture concept and we gave people a voice. This was very fulfilling for all of the team, because we all started off interested in our respective fields and wanting to know someone who had the skills to create these things, but found out it was rare to find those people. Now we were those people and it was a good feeling giving back.

23A- What's your unfair advantage

Studio Equipment

This is valuable because the equipment is usually quite expensive and some knowledge is needed in knowing what's the best equipment to get. It is rare because most people do not own the equipment necessary to professionally record. It can easily be imitated. It is not substitutable though.

Human Capital

This is valuable due to the diverse sets of skills on our team. It is rare to have a sound engineer, producer, and videographer in the same local business. It cannot be imitated, unless someone else also has all the skills in comparison, and it is substitutable with other people who have similar skills.

Experience

Experience is extremely valuable because it determines the quality of the work done. It is rare to have a team who is in their 20's and has more than 30 years of experience combined. This cannot be imitated or substituted. This is originality.

Marketing Campaign

The marketing campaign is valuable because it is what will be used to retain customers. It is rare to have producers and people who record your music give you free opportunities and we want to take advantage of that. This can be imitated and it can also be substituted.

Expansion Strategy

The expansion strategy is valuable because it lays out how the company can grow. It is not that rare to have a growth strategy, but it is rare when you have a unique version of one. This can be imitated and substituted as well, but it won't necessarily be exact.

Mentorship

Mentorship is extremely valuable because it provides guided help that often comes with a price if it is coming from elsewhere. It is quite rare and not everybody has it. It is imitable and substitutable, but just like a strategy, it will not be exactly the same.

Diverse Services

Diverse services are valuable because they usually compliment each other. They are rare, because oftentimes you have people who share the same skills, so less comes from it. They are not imitable and they are also not substitutable. They are one of a kind.

Refer-a-friend Program

The refer-a-friend program is valuable because it allows customers to get free items and services just for referring friends. This is somewhat rare in the music industry. It is definitely substitutable and imitable though.


Team Chemistry

Team chemistry is very important because it allows progress to flow much faster and more fluid. This is definitely rare, because some teams do not get along. This is substitutable and imitable though.

Financial Capital

Lastly, this is valuable because it allows a company to get off the ground. The reason it is rare is because not every business starts off with money, it takes years for most to make a profit. It is imitable and substitutable though.


My most important resource is the Studio Equipment. This is because it is a mix of financial capital, as well as experience too. This equipment is essential to starting the business and requires time to learn, master and therefore share with others. I am happy that I already invested in this equipment and I can now use it to help other people bring their music to life. This just has the most tangible value and it is the start to everything, besides the team.

22A- Elevator Pitch No. 3

The feedback I received really led me in the direction of being more concise. My last video a bit too long so I realized I had to condense what I needed to say. I made sure to only include the important details and to save the other smaller details for another time. I think this is my best one yet, because I took everyone’s feedback to heart and used it to be constructively better. The best feedback I got was to do less elaborating and more expanding.

Yes I definitely think by the third time, I was a lot more comfortable in front of the camera, and I also have it completely memorized at this point. I wouldn’t say I memorize the words, but rather the order of the topics I want to bring up. I think I’ve learned a lot about elevator pitches from this, and the feedback has definitely helped me make the small changes I needed to make.

21A- Reading Reflection No. 2

Makers: The Next Industrial Revolution

1. The general theme of this book revolves around the idea that 3-D printers, CAD modeling and other technologies of design have drastically increased the potential for inventors to create. This gives a lot more power and access to individuals that may not own their own factory, but still want to bring their ideas to life. I think there is a lot of truth in this, because often times people cannot bring their ideas to life due to insufficient funds, but with an investment in software or 3-D printers they have a lot more opportunity than they did before. This has the potential to create the next innovative revolution.
2. This book enhanced what I have been learning in ENT 3003, because it just took the concepts we have been studying and made it more tangible. It created more pathways to bring ideas to live and to actually start the prototyping process. I think that’s very important for entrepreneurs because if you want intellectual property for example, it helps a lot to have a physical prototype to share. This book definitely allowed me to see opportunities that I hadn’t before and I think it really complimented what we are learning in this class.
3. I would design an activity where everyone has to come up with an idea that has the potential to be 3-D printed. After that they would work in groups using those 3-D printers and would be able to create their prototypes. They could then submit pictures and videos of their inventions and prototypes and lead discussion on the generation process.
4. The biggest surprise was learning the true magnitude of what this new industrial revolution could bring. Entrepreneurship is already gaining speed to me, but with these technologies and software I now believe it is going to spread faster than ever before. I think I really want a 3-D printer now.

20A- Growing your Social Capital

Ted

1. The first person I talked to was Ted Nelson
2. He is a domain expert in the music industry and creates music. He is most into singing rock and has done so for the past 30 years.
3. I found this person at the place where I work which is called Massage Envy. We started talking about music when he told me he made music and showed me some of his songs.
4. He did not do anything for me, other than give me advice in the music industry. He showed me a lot of the ways music production has changed and how the market intersects with the consumer. I don’t believe there is any return expectation from me. I actually recently gave him an instrumental, so I’m expecting him to create a song from it and send it to me.
5. This person will enhance my opportunity to learn more about what goes into producing music, as well as how to market myself in the most professional way possible. I also feel as though his connections with other musicians will also greatly benefit my own network.

Nico

1. The next person I talked to was my friend Nico Chang.
2. He is an expert and professional sound engineer. He has been creating instrumentals and selling them for the last 10 years and works for several audio companies as well.
3. I found this person in college and I met him through a friend. He actually went to my high school but I never actually got to know him during high school, so when I first met him, it felt like I had never talked to him before. He was one of the first people to show me the instrumentals he made.
4. The favor he did for me was give me insight into the process that it takes to create and sell the beats. He was the first person to actually teach me the software called Logic Pro X. After learning it and creating my own, he soon taught me how to sell the beats on websites in order to generate revenue.
5. This person really benefits my network because I think he could be a very great business person to create a company with. The same company I am creating and explaining on my blog, I plan on partnering with him on. He has the experience and equipment I need to really get it going as well.

Pablo

1. The last person I interviewed was someone named Pablo.
2. Pablo created a company called Roblex, and it focuses on selling not only music, but also creating music videos and ads for customers.
3. I found this person at an entrepreneur meeting in Gainesville and he ended up being very close with some of my other friends so we all started hanging out. When I was working on my company the past year, Pablo really helped us find a good videographer to shoot some of our videos.
4. He has given me a lot of advice, as well as give me connections to certain people that helped us bring our vision together. He has a lot of connections with videographers so it was awesome to have him help us in that aspect. I also help him brainstorm for his company as well so it’s mutually beneficial.
5. I think this person will really help me find opportunities and people within the film industry. I think there’s a large network he’s involved in and I need videographers for my company. I would even be down to bring him on the team.

Reflection:

This experience definitely changed the way I network and go to meetings and clubs alike. Most of the people I’ve met in entrepreneurship have been from clubs, and I always was hesitant to go, but now I feel really confident in meeting new people. I have to realize that it doesn’t matter the age of someone, what matters is their passion, experience and skill set. I think going in with the intentions of learning something or asking questions is very different than how I have approached these networking meetings before, but I think it is very valuable because it allows me to try my best. Sometimes you won’t always succeed, but if you try your best, at least you know you have it your all. I learned a lot from this assignment and I’m thankful for it.

17A- Elevator Pitch No. 2

A lot of the feedback I received was about the differences that I would bring compared to another company doing the same thing. I made sure to touch on the fact that my team was very diverse and experienced in their respective fields. I also touched on my marketing campaign as well, which uses a refer a friend program to bring people in and give people discounts in return. Lastly, I changed my body language because I wanted to be more dynamic throughout the entire pitch. I wanted to captivate the watcher not only with my words, but with how I was moving throughout the entire thing. I think all of the feedback I received was extremely valid and it really helped me in making this second elevator pitch.

19A -Idea Napkin #2

1. I am you and you are I. My talents include thinking creatively and out of the box. I think that I am self-driven and I enjoy creating ideas and visions as well. I really love making music too. My goal is to allow other people to make music as well at an affordable rate.

2. I will be offering customers recording equipment and skills in order to give them great quality recording, mixing and mastering. Aside from that, I will also be providing instrumentals as well as the resources needed to shoot music videos. Many artists don't have access to these services.

3. I am offering it to everyone, but I believe my target demographic will be 16-25 year urban teenagers and adults. They will probably have a job, and they make music on the side as a hobby. They are driven nd passionate about making music and are deeply intertwined with the culture.

4. They care because I may hold the secret key to them actually bringing their music to life and to the public. Many people have dreams of making music, but not all of them can actually produce, record, and mix themselves. I have the technology, equipment and experience to help them get there.

5. I would say my creativity and experience are what sets me apart. I also have a really great team that has very unique qualities as well. Our chemistry is very cohesive, so that helps a lot when we are working with customers.

I believe these elements do go together because they all depend on each other to exemplify themselves. I think the experience, equipment and team are all essential parts of making music. It is much harder to do it alone and it is a lot less fun. I think what I provide is nothing over the top, but the essentials to help someone get started in creating music, their own brand, and giving them a voice.

I realized from the feedback that I received that marketing will be crucial considering there are already so many other people that are doing the same thing as me. That is why I came up with some new strategies. I also realized that I need to make sure I consistently give good quality, because that will be the main dterminant of whether people come back to me or not.

18A - Create a custom avatar

My protypical customer makes music in their free time, and lives in South Florida. They drive a silver or black Honda Accord, and use it to drive to college or high school every day. They are around 16-25 years old and watch a lot of Rick and Morty as well. Their favorite old TV shows are Drake and Josh and The Sweet Life of Zack and Cody. They do not have children. Their favorite books are the Harry Potter Books and Magic Tree House. Their favorite politician is Kanye West. They feel like they are teenagers at heart. 

I have almost everything in common with this avatar. The reason is because I would be considered a prototypical customer as well. I grew up during the time of all these shows and I love making music in any of my free time. I don't think it is a coincidence because I need the same services that I am providing as well.

Overall, my customer avatar is young in age and eager to start creating music and forming a brand. This is why he or she would need my services.