williamol blog

Final Reflection First few weeks after beginning of the class, I was skeptical about the way information was delivered on lectures and not having summaries/notes of them made me unable to review material to get a better image. However, I realized that it was not a primarily purpose of the course, and I understood the true goal was education and development thru the blog. Book reflections are amazing and must do. I'm happy that this course has such assignments. Elevator pitches are quite a challenge but if I there is a chance to spend more time on them and prepare properly that would be easy. Conduction interviews are also not the easiest thing, there are too many of them, but most of them worth them.  One thing  that requires a lot of attention is better focus on selection the business concept. I strongly believe that I could do better job if  more intersting and encouraging picked at the beginning. So, I would advise everyone who decides to take this ...

Venture Concept 1. Venture Opportunity Description  Throughout economic history in the United States, we have seen major recessionary gaps and major inflationary gaps.  After a borrower defaults on mortgage payments, the lender (or the subsequent loan owner) will likely foreclose. Most foreclosures end in an auction where the property is sold to a new owner. During the foreclosure crisis, foreclosure sales frequently resulted with real estate sold well above of the opening bid. Depending on state law and the circumstances, a foreclosure is either judicial or nonjudicial. At the end of the process, a trustee or an officer of the court, like the sheriff, will typically conduct a foreclosure sale.  A foreclosure sale results in excess proceeds, the lender doesn’t get to keep that money. The lender is entitled to an amount that’s sufficient to pay off the outstanding balance of the loan plus the costs associated with the foreclosure and sale—but no mo...

Create an Avatar The prototypical customer for my service is an average person, men or women from 25-80+ years old who experienced foreclosure or estate sale of his/her relative and would be willing to accept compensation and some cash back to their side. Something that most of them would combine is negative experience associated with loose of their property or negative involvement in legal process. So, all of them would first need some support and positiveness, they need to see a bright light and hope in their life path. The most important would be not money but creating them positive and optimistic vision. I won't write more details as what hobbies they have and food they eat and what books they read because they would be all different. I would say they are from middle or lower class, driving regular inexpensive cars. They most likely disappointed overall but may have already chosen to start a new positive way in their life. 

What's Your Secret Sauce? Five ways in which my human capital that is unique: Enthusiasm I may be even too enthusiastic, I love to support ideas and participate in their developements, I almost never the idea is bad or not intersting for me, it may need some work and analysis and different presentation/vision. Sometimes I find myself so naive and optimist by believing in it and promoting it deeply, encouraging myself in, ending up spending too much time. Resourcefulness  By having this mindset it is especially relevant when the goals I have set are difficult to achieve or I cannot envision a clear path to get to where I desire to go. With a resourcefulness mindset I'm driven to find a way. I like to punch new ways and achieve what I set up  previously, I find myself very happy and enjoy whole process. Ambitious I'm an ambitious person and I have strong desire to achieve success by meeting my goals. I might demonstrate ambition when I apply hard work and dedi...

Figuring out Buyer Behavior No.2 Report findings and Draw Conclusions:  Similar to the first buyer behavior assignment, I found 3 people and presented my idea, so I was able to get different opinions on how people viewed my idea. Although the concept I presented (Surplus funds recovery) is more service based. I asked them to suppose one of their property, or their close relative property, went through foreclosure sale and was sold to a third party. Imagining they moved forward with their lives and someone with my company reached out to them mentioning there are funds available to recover.  All 3 responders very sympathized the idea that someone can deal with claim process and professionally recover as much funds possible. However, when presenting the cost of service - 30% of funds recovered hold by my company, one respondent, Alex, started challenging me by asking why it was essential for him to cooperate with me in such deal. Ilona also asked why she should pick my pa...

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children? 2) Why have you selected this particular exit strategy? 3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources? Answer on this set of questions would be it depends of multiple factors. It depends on different personal and business circumstances of this or that period of time. My experience shows me that even when I plan on something longterm it turns out absolutely differently, other way around and change the whole plan. For example, if it grows large enough generating tremendous annual r...

Third Book Selection: Thinking Fast and Slow by Daniel Kahneman I have mixed feelings about this book. Some of the studies are really interesting and I find them very helpful. However, The beginning chapters seem as if the author put a group of journal articles together to develop part of the book. The first parts of this book, Part 1 and 2 are strongly focused on the author himself trying to convince the reader that it is better to think statistically rather than instinctively / intuitively. After stating countless studies to support his premise, the author (very briefly) in Chapter 21 admits that “formulas based on statistics or on common sense” Doesn’t common sense fit into instinct or intuition? Then the author accept that intuition adds value but only to the extent that the individual bases it of sufficient research. However, there is some evidence that also says that many of the studies referenced in this book were not able to be reproduced, adding more speculation on the ev...

Without failures, there is no progress! I have failed so many times during last few months in business and in education. Of course when you fail you learn a lot, sometimes even more than when you succeed. Failures are essential on the way to success, and there are a lot of entrepreneur who succeed and fail after and then climb back again and then fall after even deeper, and so forth again and again...  it's an ups and downs, and it's a matter of person's willingness, desire, and capability whether he wants to stop it and maybe become more passive or quit or continue further.. Failures most of the time, in my case, involves a lot of different emotion, sadness, displeasure, frustration, sometimes fear and anger and even enjoyment or happiness.. However they temper me every time I fail.  They may not be strongly expressed externally, but felt internally. Now I feel like I'm willing to take more risk than I used to, again, taking reasonable risk.. I believe there is no b...

Opportunity Many people are unaware that there are funds  available  for them to claim waiting until they start a claim and get this money after foreclosure. For example, in one Sarasota county alone there is more than $2 million of dollars available to claim but for a limited time. After due date has passed, this money goes to the state and no one can claim them. The advantage in that business that municipality poorly inform people who are edible to get this money because for example they have moved to a different state or deceased and for the municipality it is hard to locate them or their heirs.  This is a unique opportunity that requires a lot of research and digging or resource to pay for the search services. Another huge opportunity is that I can work remotely with multiple different counties at one time and even different states.  Innovation This whole ...

Personal and Working experience: Valuable: This is valuable since I'm already in a this field and have broad experience working with different aspects of real estate. Rare: I think this is somehow rare. There are other real estate professionals but most of them specializing only in one particular narrow area and not looking at it as a whole. Inimitable: There is a minority of people who could copy this idea and most of them have different working experience. Non-substitutable: I could not substitute this. Education Valuable: this is very valuable because it gives an opportunity to view the idea differently ( wider) Rare: This is not rare many entrepreneurs have a degree or at least completed courses that help them establishing their business. Inimitable: Anyone who has a degree or learning could find a proper use to their idea  in a positive way. Non-substitutable: other option would be to hire a general manager or enough experienced employee to manage everything but th...

https://www.youtube.com/watch?v=XMVX2tFYx-E&feature=youtu.be I had to change it to make less "sales speech" and to give less details and  deliver key points... I still believe  that I need to  work on skript and re-film it, I also need to use notes instead of laptop (or just learn it ) and provide more expressions and gestures maybe. 

The book that I chose for this assignment was "How to Fail at Almost Everything and Still Win" by Scott Adams. The book itself is autobiography that tells us about Adams experience of his failures, decision process ,  driven factors, and his endless motivation. It expands understanding and broad the vision, giving better understanding how different entrepreneur think ( in this case Scott Adams)  It was interesting  to find out how some people convert their errors and failures into useful experience. It shows that entrepreneurship is not just straight up process, but it has a lot of ups and downs, and there is no need to give up if you are currently down, it is temporarily. Therefore, with this all being said, this book is very connected to this course. An exercise that I'm thinking I would create off this book is to create a total failure or 3 problems to the business that you are working on creating and try to think of what would be the solutions and how would you ...