Blog for ENT 3003

3) I spoke with three individuals about their retirement and investment account purchases.   As my business is that of financial advisement.   The takeaways from the interviewees is that although there are many different companies, they essentially offer a similar product.   The product being an IRA, Roth IRA, or 401k, etc.   Of course, each person did state they were unsure of the amount of fees they paid for their respective accounts.   Everyone did state that they chose their respective products because they knew the advisor from family, friend referral, or it was just convenient employer sponsored account. 4) Most of the account purchases were done in person, such as the purchaser visited an on-site office, or the manager came to their residence.   However, one person did purchase their account over the phone and with the use of a facsimile machine. 5) It seems that if there is some service provided by the advisor the purchaser is satisfied. ...

1)       Here is my list of what I believe makes me unique . First , I am very approachable.   In my experience people find it very easy to speak with me.   Second , I operate with discernment that either most people don’t have, or just chose to ignore.   That is, I find it easy to get people to open to me in conversation and help discover the root of a problem . Third , I am very knowledgeable.   I like to learn not only the way to do something right, but also the reason we do something a certain way.   My least favorite answer is “because we have always done it this way.” Fourth , I like to lead from the front, not push from behind.   To often I see people in leadership positions that only give orders.   In other words, I don’t ask someone to do something I would not do myself.   Fifth, I am very goal oriented.   I let to set a goal and complete tasks to achieve the goal. 2)       Here ...

Goal by  Nick Youngson   CC BY-SA 3.0   Alpha Stock Images 1)       As far as behaviors that I have used or developed; I would have to say that for all my academia I have been an above average grade earner.   I use my internal fortitude to constantly strive towards the prize, which in this case is to graduate with honors.   There have been times that I have not achieved the grade I would have liked on an assignment, but internally I know it was not for lack of trying.   So personal self-motivation is the behavior that has assisted me the most. 2)       Well when we started the semester I was warned of the amount of tedious work that was required for this class; however, I did not understand what was meant.   Now here we are at the halfway point, and I can safely say there have been a few times that I have said to my wife “I am not going to bother with this assignment or that assignment.”   Lu...

For my service, I decided to segment my prospective customers into a generational market.   Such as, baby boomers, generation x, etc.   The segment that I chose to interview was that of Gen X, which coincidentally is the category of my generation. I spoke with three individuals within the chosen segment.   I focused more on the financial planning of my service then on just advice for a given situation. Summary: I learned from the individuals that they developed an awareness of the need at an early age.   One individual stated that his awareness was through his parents.   That is, he over heard them planning for their future and decided to start doing the same.   Another individual was married at 19 and determined they needed to do research to make wise financial decisions and plan for their future.   The last individual was employed with a large corporation right after college and was given employee benefits.   Through self-initiated resea...

Now let's see if I can paint from wide brush strokes and make this assignment visually appealing to our intellectual minds. 1) I am a very numbers oriented person.  Therefore, I like the idea of taking part in growing my personal wealth and making what I consider wise financial decisions.  My business idea is actually a field in which I plan to work after my first retirement. 2) I am offering a service to my customers.  My service consists of providing advice on financial decisions.  Such as, current market interest rates and the amortized cost borrowing money. 3) Individuals who are active in being financially independent. Not individuals who are the proverbial day trader, but persons who don't manage money wisely.  Persons that want to save for a rainy day, but don't know how to get started. 4) Much like Weight Watchers and other organizations sell memberships, I intend to sell my service as a monthly membership.  Just like Weight Watchers changes...

For my first reading reflection I chose to read “Grinding it Out” the Ray Kroc story.   Here are my responses for the requested information. 1)             I was most surprised by who Ray Kroc was.   As a kid I remember seeing his plaques in McDonald’s that I visited, but I never understood why.   I admired his knack for never giving up; he had an uncanny ability to continually take risks.   I least admired his ability to move from one marriage to another.   Mr. Kroc encountered loads of adversity and failure.   For the adversity, depending on the scenario he did not go on the defensive.   For his failures he got up and tried again. 2)       He was excellent at not trying to fit a square peg in a round hole.   He could easily determine areas for efficiency improvements.   He could also size up his personnel and knew exactly what they were good at. 3)    ...

For this assignment, I again interviewed five individuals to determine more specifics on the who, what, and why of the service provided. Here is a summation of what I learned. Joel - 30 something self employed.   This individual has never worked for a company that provided employee benefits, so they do not have any employer sponsored retirement accounts.  Through discussion, I learned the individual does take an active role in their financial decision, but their ultimate financial future is based on the ability to capture the next "big thing."  That being said, my services are not needed by this person. Gordon - 40 something corporate employee.   This individual works for a prominent fortune 500 company.  Which means they have several options available to them for investing in their future retirement.  This person is very active in planning for retirement and spending money wisely.  They have recently consulted assistance from other financial advis...

   My selected opportunity consists of a service to individuals.    The service I will provide will be that of financial management or oversight.   For my service I intend to not focus on only providing a product for a future retirement, but to help advise individuals along the way with making smart decisions with their finances.   I would like to help people manage and grow their wealth, but also avoid common misconceptions and pitfalls.   For instance, most people don’t consider the effect that compounding interest has on borrowing or investing money.   a.        My service would provide a different prospective to my clients. A perspective that showcases the full amount of the vehicle purchase or home refinance and whether the purchase is a wise choice.   b.        I plan to create a monthly membership fee to cover the cost of my services.   I could charge a tiered...

1) I chose an opportunity to offer a service to individuals in the Tampa area.  My service is that of a financial adviser that is paid on a monthly membership fee basis.  I realize there are all sorts of financial service providers; however, most of the advisers I have met are just glorified insurance sales men. In other words, the advisers are interested only in growing your assets, if you have purchased their product because of the percentage fee that is attached. 2) WHO: Residents in the Tampa area WHAT: Individuals who need or would like some oversight on day to day financial decisions WHY:  To help individuals make sound financial decisions and plan for their future 3) I have deduced from general conversation and media articles that most of America is under prepared for their retirement.  In essence, we have created a vacuum that now requires most individuals to work well into their 70's, on average.  While I still would like to work for enjoyment ...

As I stated in the title, "the search continues."  I started my search in the local newspaper; however, after rethinking the exercise I expanded my search area. Here are the articles and opportunities that I found during my search. REGULATORY TRENDS 1.    Digital License Plates     a. I found an article on the "Verge" that discusses recent legislation changes that allow the testing of a digital license plate in California. Here is a  link .    b. The article mentions that the plates are only being tested in California, but recent legislation has also been approved for their use in Florida and select other states.  I believe there may be an opportunity based on the fact that there are few if any current manufacturers.    c. The prototypical customer for this product would be someone who is a trendsetter and likes to invest in a new product right as it hits the shelf.    d. The opportunity will be difficult to explo...