Social Entrepreneurship This Semester

I am really excited to be taking the social entrepreneurship course with Dr. Kristin Joos at UF.  Her story is inspiring.  Please do take a look.

Final Reflection of an Aspiring Impact Sociologist

Looking back on the blog and thinking about the experiences throughout this course brought a smile to my face.  It has actually been quite fun.  I liked the idea of doing versus taking tests from day one and this has been confirmed week in and week out.

Week 15 Reading Reflection

Questions

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?

Working only with women is a novel concept but in America, based on equal opportunity, it would not work.  The rationale behind this approach is sound though and the concept of group lending makes sense because it fosters responsibility, cooperation, and accountability.

Elevator Pitch No. 4

Overall, I received very good feedback concerning previous elevator pitches but one criticism was that I was reading from a script so for this last one, I decided to just wing it.  Another question that people have raised along the way is how do the different initiatives and plans of SORIN functionally work.  This elevator pitch provides one real life example of a financial gap, who can be impacted by it, and how would SORIN respond to it.  Please provide your feedback below.

Venture Concept No. 2

Feedback Summary

I reviewed the feedback from the Venture Concept No. 1 and What's Next posts.  There were a total of 10 comments and all of them had positive feedback.  The most common theme was that my passion for SORIN and the work I plan on doing was picked up by multiple people.  They also respected the research and practicality of the concept and felt that the plan has lots of potential for success.  One person indicated that details about how the plan will be executed were missing.  I agree with this but there are a couple of reasons why this is so.  For one, the SORIN initiative is very ambitious in its scope so I have yet to think through the execution of all the various aspects.  I am still gathering information and seeking counsel.  I also felt like going into too much detail in this setting was not feasible or practical.  Finally, I have laid out a framework for a movement, a concept that will evolve with time.  I am sure there are many facets that have yet to come to light and probably won't until sometime in the future.  I believe there is logic in constructing the SORIN methodology one piece at a time leaving room for flexibility and adaptability along the way.

Week 14 Reading Reflection

Questions

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?

The triple bottom line (TBL) is a concept that I was unfamiliar with.  It focuses on a bottom line that goes beyond profit.  It is comprised of economic, environmental, and the social; the profits, people, and the planet.

Google Gold

1) A discussion of your general approach and strategy to search engine optimiation (SEO). What were some of the activities you did for each blog post to pursue SEO?

Very Short Interview, Part 2

The first time through I intended to speak with two entrepreneurs.  I swung for the fences and got a hold of Dan Price of Gravity Payments.  Dan promised to answer the questions via email but never came through even after I did all I could to make it as easy and simple for him.  In the end, what bothered me the most was that he committed but did not deliver.  As someone aiming to craft a socially responsible financial eco-system with SORIN, I relearned the age old lesson about how "your word is your bond" but not from Dan.

Week 13 Reading Reflection

Questions

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?

I found the due-diligence and analyzing the business checklists very useful because they approach the acquisition process from two different and necessary perspectives.  Where the analyzing of business checklist focused more practically on the business, how it is structured, and how it functions, the due-diligence checklist was focused on the big picture, the value, and the inherent risks of the business.

Celebrating Failure

The title of Chapter 13 of Stephan Schiffman's book, Telesales, is "Count the 'No' Answers."  Sales is all about overcoming the "NO" but Stephan Schiffman takes it to another level by declaring that a "NO" should be celebrated; it should be counted because every "NO" brings us closer to the inevitable "YES."

My Exit Strategy

The SORIN (SOcially Responsible INitiative) concept that I have been developing throughout this blog is a movement comprised of a central non-profit organization partnered up with for-profit businesses.  The way I conceptualize what needs to be done today and how I envision a potential exit is consistent with the inherent movement nature of the SORIN.

What's Next

Throughout this blog, I have been outlining the concept of SORIN, the SOcially Responsible INitiative.  Take a look at venture concept post for an overview of the initiative.

Existing Market

I believe the next thing I would like to spend more time on is exploring the concept of the SORIN app that I discussed in the Amazon Whisperer post.  This is an idea that I have not fully developed to date.

Interviews

Week 12 Reading Reflection

Questions

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?

The fatal visions listed under “Fatal Visions in Strategic Planning” were eye opening in that I never thought about them as such.  I can imagine that entrepreneurs, so focused on making their businesses work, most probably do not realize that they are falling into a fatal vision trap.

Venture Concept No. 1

Opportunity

The American middle class has been the symbol of the American work ethic and prosperity for more than a hundred years.  However, over the last few decades, the middle class has been shrinking or losing ground according to Pew Research.  Their share of income and wealth has been shrinking along with the reality behind the American dream that hard work and meritocracy can propel anyone towards wealth and financial freedom.  The reality is that the system has been rigged to the benefit of the ultra rich since the 1970s and and the recent financial crisis left the middle class incrementally worse off than any other segment of society.  The failure of the financial industry evidenced by the creation of the real estate bubble deprived the middle class of their greatest source of wealth, their homes.

Week 11 Reading Reflection

Questions

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?

I had no idea that Corning was such a multi-faceted and successful innovator.  I just knew of them from their cookware but to learn about how they have been and are leaders in glass and plastics was pleasantly surprising.

Amazon Whisperer

The SORIN concept that I have outlined in this blog does not neatly fall within the Amazon Whisperer exercise but I will attempt to do what I can.

Current Revenue Drivers

SORIN represents an attempt to establish a socially responsible financial services eco-system that is comprised of a central non-profit surrounded by for profit financial businesses dedicated to the overall mission of providing socially responsible financial products and services.  SORIN earns revenue through revenue-driven contributions made by its partner businesses (type and amount yet to be determined) for the awareness, credibility, and product development services provided by SORIN, the non-profit.  Additionally, SORIN will seek charitable contributions from individuals and organizations that support and advocate its mission.  SORIN will also seek grants that fit within its mandate and those of the granting organization.

My Unfair Advantage

List of Resources

1. Personal experience with socially responsible financial services:  VRIN (Very valuable for obvious reasons, valuable; my experience is also rare because the socially responsible financial services market is still in a development stage; it is also inimitable because copying experience cannot be done; there are other practitioners in this space so I would say that my experience is substitutable)

Growing My Social Capital

This is a very important assignment but one that proved to be difficult for me for two reasons.  One, I was traveling for a good portion of last week and this week so I was not able to devote enough time to the assignment and two, my concept and the industry it relates to is difficult to pin down.

Week 10 Reading Reflection

Questions

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?

This chapter is pretty standard for understanding the basic financial statements and metrics.  Therefore, nothing really was a surprise.  I just found the organization of information to be very useful so it stood out but this is a common theme throughout this excellent text.

Elevator Pitch 3

Reflection

I decided to repost my second elevator pitch because I received all positive feedback for it.  I had addressed the issues identified in my first elevator pitch in it.  I am hoping that by reposting it, either the first set of feedback (4 comments) will be validated or I will get feedback in this round to improve it. Obviously, I was surprised by the overwhelming positive feedback.