Making it Real

	William wwwwww Rand
123 street street Gainesville, FL  32603	wbrand@ufl.edu	Cell: (770) 555-0973

Qualifications Summary

I am organized and ambitious student at the University of Florida. I am committed to delivering high quality results through my persistent nature and my ability to pick up new information quickly. I am energetic, professional and eager to learn about the brewing industry.

Education

Student, University of Florida - Gainesville, FL                                                   2013 - present

Academic junior year majoring in Advertising and minoring in Innovation and Geography.

Work Experience

Founder, Chill Kegerator                                                                                          2016 - present

• reach out to potential buyers and to other companies to help with my venture
• knowledge of kegerators and beer
• to to give proper criticize to others and help them grow

Kitchen Services, Alpha Chi Omega - Gainesville, FL                                          2015 - present

·         Busboy and assistant preparation chef

Internship, Prometheon Pharma                                                                        Aug. – Dec. 2014

·         Organized and orchestrated community events to raise awareness and donations

·         Use of social media and Linked-in to reach out to possible donors

Delivery & Installation Technician, Atlanta Spa & Leisure -Atlanta, GA              2012 - 2013

·         Delivery and installation of hot tubs and pool tables

Volunteer Experience

Treasurer, Phi Gamma Delta - Gainesville, FL                                                     2015 - present

·         Develop budget for upcoming semesters, Vice-president,

·         Chaired Dance marathon - was the liaison for my chapter for University of Florida's largest student run philanthropic event, Dance Marathon.

·         Internal Philanthropy committee - reached out to local business to help support our annual philanthropy supporting the USO

·         Chaired External Philanthropy - was in contact with sororities on campus and organized my chapter members to participate in their events

·         Chaired Blood Drive - was in contact with LifeSouth of Gainesville, FL to help my chapter donate every 9 weeks

·         Recruitment committee - coordinated events to bring potential new recruits to Phi Gamma Delta

Assistant Swim Couch, Huntcliff Hammerheads -Atlanta, GA                                2012 - 2013

·         Assistant in head coach of neighborhood swim team

·         Organize practice schedules and routines

Volunteer, Children's Health Care of Atlanta - Atlanta, GA                           Aug. - Dec. 2013

·         Organization of inventory of necessary medical items

·         Disposal of expired medical equipment

PROFESSIONAL AFFILIATIONS AND AWARDS

·         Member of the international fraternity Phi Gamma Delta – member of an organization the supports the growth and development of college men into responsible adults through leadership and responsibility

·         Kurt Bunger Award 2013 – award given to most determined swimmer that also showed charisma as well as sportsmanship

My Exit Strategy

My exit strategy is that I don’t plan on getting out of the business. I would love to have my own business and have it stay with me as I grow older and grow in knowledge about my market. I hope that I never have to sell my business and that I can hopefully pass on the company to my children. I don’t want to see my hard work going into a company and then have to sell it to someone who doesn’t share my aspirations about my first venture.

I think that not having an early exit strategy has forced me to think of solutions that are better for the long run and not just a quick resolution. I am also always looking for new opportunities that could help grow the business and possibly let it break into new markets. My exit strategy has also kept me from reaching too high to fast because I don’t want to jeopardize the company. I want to keep my company for decades and hopefully never have to sell to anyone and keep the business in the family.

Venture Concept No. 1

Opportunity:

                My venture of a low cost kegerator will appeal to college students who enjoy parties and who host them occasionally. People who see a need for this product are those who host parties and are tired of the hand pump taps which are outdated and inefficient. The nature of the need is that it is great for a party setting because it works well and is easy to use. The appeal of a relatively low costing kegerator that keeps beer cold and is easy to use for the average consumer would attract a lot of attention.

                The environment that makes this venture a possibility I that hand pump taps have not been changed in years and this obsolete technology needs a re-vamp. My idea for a kegerator will be ideal in college towns like Gainesville, Florida and Athens, Georgia. My target market living in areas like these will see the merit in having a more advantageous way to dispense beer. This venture will be great for parties and other events where keeping the beer cold is the first priority. My market for the kegerator will be primarily in the south with warmer temperatures and in college towns with high population densities around the ages of 21 to 30 years old.

                Potential customers of my kegerator are tired of the keg tossed in a trash can surrounded by ice. They want a new way to dispense beer from kegs in a more dignified manner that is easy to use and cost efficient. Once my customers try out my product they will see the convenience of the product and will use it permanently. This is not a huge opportunity and it will take time to build the groundwork, but sales will soon rise as more people see the benefit of having kegged beer that is easily dispensed.

Innovation:

The innovation of my product is the new take on dispensing beer from a keg cheaply and efficiently. There are already kegerators that exist in the market place, but those are bulky and expensive. The kegerators out now are more for personal use, while my idea is more for pleasing the masses at parties and other events. The hand pump tap is outdated and requires a lot of effort for the user to get their beer from the keg. My idea for a kegerator will have a insulated interior that will keep the keg cold, a CO₂ tank and pump the get the beer out and a durable exterior so it can last many parties. I would be selling my kegerator for $65 and would also sell the extra tubes and CO₂ for maintenance if need be and to refill the tanks.

Venture Concept:

                My idea of a kegerator will eliminate the need for outdated hand pump taps and eliminate the strenuous task of kegging the beer dispensed. People will want to buy my product because party goers are tired of trash can kegs and want something new that can be easily operated. I don’t believe that it will be hard to switch to this product because it will be an easy decision to dispense beer in a more dignified manner and also reducing messes caused by trash can kegs. My main competitors are companies that sell full kegerators, but thankfully we market to different target audiences. They are more focused on personal and small croup markets, while I am focusing on college students who enjoy large parties. My distribution will be run out of Gainesville, Florida in a small store so that customers will be able to come in see the products first hand and will have assistance nearby if necessary. It would be a small operation with 7 people working with me for sales, delivery and maintenance.

Minor Elements:

                My most important resource is my beer knowledge from home brewing and from working in a bar. This will give me insight into the business as well as insight into my potential customers. This knowledge will make it hard for people to compete with my product because few people have extensive knowledge of beer and brewing. My next venture will be to create more custom tap handles and other ways to customize my product so that the kegerator can be personalized to customers. And hopefully in 5 years I hope to have good home base in Gainesville with many customers and eventually reach out to Athens, Georgia for a second store.

Celebrating Failure

I have been through a lot of failure and had to learn from my mistakes. One of my earlier failures was not getting my interviews on time for assignments in this class. I was frightened of talking to strangers and because of that I wasn’t able to get assignments finished and this brought my grade down in the class. My failure of talk to strangers about my venture concept was preventing me from doing my job. I had to make a conscious effort to start talking to random people and was eventually able to build my confidence. I was slowly becoming more comfortable in my own shoes and my ability to talk to people grew exponentially. This class has directly influenced my ideas on failure and I am more willing to take risks. This class has allowed me to break out of my shell and overcome my fears to become a better person and a better student.

Elevator Pitch No. 3

My third elevator pitch:
https://www.youtube.com/watch?v=SVOpsuNW8Rc

Reflection: Previous feedback said that I had good eye contact, was standing up straight, but I was a little rigid. I try to keep good eye contact with everyone and it was strange staring into a camera for over a minute.

What did I change: I tried to dress nicer for my elevator pitch. I wanted to look more presentable and to emulate who my target audience would be. I also tried to come off less rigid and more free flowing.

Amazon Whisperer

Amazon whisperer

Revenue Drivers: My revenue drivers are my main product, the kegerator, as well as the individual components that can be sold separately in case something on the kegerator broke. The majority of me revenue will come from the purchase of my kegerator. I will also have different tap handles to choose from so customers can customize their kegerator.

Next product: My next product will possibly be a table that can be used for every type of drinking game. It will have multi-purpose capabilities, but it can be used in most parties for any drinking game.

Next thing to enhance existing product: I could add more ways to customize the kegerator like more tap handles and more outer designs that allow for the customer to allow their personality to flow as well as the beer

Competing product: My competition is the EdgeStar Kegerator that costs around $425 and can break the bank for a college student. This product is a luxury product that keeps a keg cold and dispense beer from any sized keg.

Consumer Views: There were multiple complaints that the kegerator did not hold a temperature well which led to the beer being dispensed foamy and warmer. The majority of the positive reviews are just on the looks. I wouldn’t want to spend money on something that only looks nice and doesn’t work properly

Changes to the product: If I could make changes, I would spend more time on the kegerator keeping its temperature and not just on how it looks. You are spending a lot of money on a fridge, I would personally like the fridge to work properly.

I don’t think the product would fit with my product line because it goes after a completely different audience that I am chasing. It wouldn’t fit with the products around it.

My unfair advantage

10 resources in my venture: Valuable, rare, inimitable, non-substitutable

Home brewing: Value: gives me knowledge of beer

Rare: not many people brew their own beer

Inimitable: Few people care enough to brew their own beer

Non-substitutable: not many other things give you the personal skills in brewing beer

Connections to Samuel Adams: Value: allows me ask questions of knowledgeable people

Rare: not many people have access to people in the brewing community

Inimitable: There are only a few people in the beer industry

Non-substitutable: other breweries can off the similar benefits

Organization: Value: allows me to keep everything flowing smoothly

Rare: many people are organized so it isn’t very rare

Inimitable: it can be easy to imitate organization for certain people

Non-substitutable: this benefits everything branching from organization

Optimistic personality: Value: it allows me to get personal with customers and suppliers

Rare: it is hard to find someone so optimistic, especially about beer

Inimitable: there are people who fake and who are not sincere about their passion for beer

Non-substitutable: optimism can lead to its own success and that is very important

Experience as bartender: Value: I got first-hand experience with kegs and how to properly dispense beer

Rare: there are only a few people with actual bartending experience

Inimitable: it is easy to copy, but many people are not formally trained

Non-substitutable: you can only get experience by buying your own keg and supplies

Connections to Sweetwater Brewery: Value: it gives me access to people with a lot of knowledge of beer

Rare: few people have connections to people like that

Inimitable: it can be hard to copy these invaluable connections

Non-substitutable: connections to other breweries can offer the same benefits

Cool-headed: Value: it allows me to make rational decisions even under stressful situations

Rare: It is hard to find someone who is calm under pressure and doesn’t make rash decisions

Inimitable: it can be copied, but pressure hit people at different times

Non-substitutable: there are no other resources that can copy this

Passionate: Value: It allows me to focus on my idea and gives me drive to make it the best product

Rare: it is few and far between to find someone truly passionate

Inimitable: it can be hard to copy passion especially when it is not your own product

Non-substitutable: there are no other products to measure up to what passion can do

Caring nature: Value: it allows me to sympathize with my customers and they will be more likely to stay customers

Rare: It can be find someone who is so caring and willing to help at the drop of a hat

Inimitable: it can be difficult to be truly caring all the time

Non-substitutable: there are no other resources that can copy the effect of being truly caring to someone

Considerate: Value: The value of being considerate is being aware of how your customer is reacting to a situation and responding accordingly

Rare: It is rare to find someone extremely considerate of people and their emotions

Inimitable: people can be considerate, but it can be difficult to be constantly aware and responding to customers’ needs

Non-substitutable: this is similar to being caring, but being considerate is more focused on appropriate actions to take to people’s emotions

My important resource:

My important resource is my home brewing skills. I chose this as my important skill because it stems into a lot of the knowledge that I have developed over the years. My years of brewing beer have built my knowledge of beer and beer culture. Though my experience, I have learned who my target audience is for my kegerator product. My experience of kegging my own beer has given me first-hand experience in how kegs work and the best way to dispense them. I believe that this skill will lead to my success. 

Growing My Social Capital

Domain Expert: My domain expert is Chris Hart of Hoggetowne Ale Works. He is the manager of a homebrew store here in Gainesville. I found Mr. Hart last week when I was buying supplies for a brew I was preparing. He gave me his card and I emailed him my idea for a kegerator. I asked him about the possible ways to actually build the product and he gave me a few pointers about what would be a good insulator. He knows the business and he has local connections to help me.

Market Expert: My marketing expert is Brad Spence the marketing manager for Samuel Adams Boston Beer Company. I found Mr. Spence at a beer festival a few months ago and he gave me his card. We have been in contact for a while and I thought he would be good to ask about my product. I asked him where the best place to advertise for an affordable kegerator product and he agreed that a college town like Gainesville would be very appropriate. He is an important connection because of his work experience and his many connections to Samuel Adams.

Supplier: My supplier contact is Robbie Toombs of kegerator.com. I used the contact option on their website and Mr. Toombs respond back. He is obviously well versed in kegerators because that is what the company he works for sells. The exchange was strange at first, but he was eventually more open and willing to help. I guess I would be nervous to if someone wanted to make a product that might be competition. I asked him about his most popular products and where most of their products go to. I discovered that we are going after very different audiences.

Reflection: It was interesting to reach out to multiple people in the industry and hear their perspective from their point of view. I am also learning what questions to ask to learn the info that is crucial to me. This was different from previous networking experiences because I discussed with people who have experience in the field and I saw their opinions as more valid that opinions from various friends and strangers.

Idea Napkin No. 2

Me: I am a University of Florida student perusing a degree in advertising. I am also a homebrewer and I have work experience in bars which gives me background knowledge about the kegerator. My aspirations are to work in the field of brewing, and creating a kegerator design will help me on my journey.

What am I offering? I am offering a cost efficient kegerator that is great for parties and other events. My product will keep any sized keg cold for hours without making a mess. It will also be easy to use for the average consumer.

Who am I offering it to? I am offering this product to college students above the age 21. College towns will be my primary target market. College towns have the age demographic and many of the people living there will see the need for a kegerator.

Why do they care? They should care because the kegerator will make the party experience more enjoyable by keeping the beer cold and the spirits high. My customers will also see the benefit in having an affordable item that will last a long time.

What are my core competencies? My competencies are my experience with beer and the beer industry which is unique to me. Not many people have experience in the beer industry. I also am very determined to find a better way to pour cold beer for the average party goer.

I think that all five points fit well together. My experience with beer and my pursuit a better beer dispensing product go hand-in-hand. My colleagues who looked at my previous napkin also agreed that selling in a college town would be a prime place to sell. They would be my primary market and word would spread quickly.

My Secret Sauce

5 ways in which my human capital is unique

Cool-headed – I keep a cool head under stress and pressure that lets me make good decisions

Passionate – I am passionate about the work I do and will strive to do the best I can

Beer knowledge – Especially pertaining to my product I have a vast knowledge of beer and breweries

Caring – I care for others well-being and that helps me build relationships

Considerate – I am willing to discuss opposing opinions to find a better solution

Interviews:

1. Max – Max and I have been friends for a long time and have done a lot of collaborative projects together. He knows me very well and it was interesting to hear that we both think my level headed nature is beneficial.

https://soundcloud.com/user-26021784/interview-001

2.  Mike – Mike and I have been friends for a long time as well so it was interesting hearing from his view. He mentioned that I am “quietly strong” which I feel is a good description of how I act diplomatically.

https://soundcloud.com/user-26021784/interview-002-1

3. David – Davis and I have taken a few classes together and we have worked on projects together a few times as well.

https://soundcloud.com/user-26021784/interview-003-1

4. Anthony – Anthony and I have worked on a few projects together where we have both taken the leadership role. He mentioned that I can keep a calm head and that I am organized which helps me keep track of what I need to do daily.

https://soundcloud.com/user-26021784/interview-004-1

5. Stuart – Stuart and I brew beer together so he knows my beer brewing skills and my fixation on organization. I think he made some good points about hearing other people views

https://soundcloud.com/user-26021784/interview-005

Reflection

The majority of what my friends say about me reflects how I see myself. It was interesting hearing their opinions about what my skills and abilities bring to the table. One thing that I would add is my organization skills that help me keep track of all the things that I need to do. Going back to my original list I wouldn’t change anything. I think my original fits me very well and describes my personality.

My Customer's Avatar

My custom avatar is man between the ages of 21 and 30. He enjoys the beer culture and frequently go out to bars and friend’s houses to throw parties. His hobbies include brewing their own beer and playing football with friends. He drives a Ford Explorer to fit all their friends in the car to various events. He enjoys watching ESPN, the golf network and the SEC network to get their info on sports news. He is single and does not have any kids. His favorite book is Catch-22 because of the subtle comedy within the story that plays on a serious subject. He may be starting to get older, but he doesn’t feel that way and wants to keep partying with friends.

If this avatar was my ideal customer, we would have a lot in common. We are both in the same age group and we both like to party with friends and having a grand old time. I do not think that this is a coincidence that we share a lot in common because I was the one who designed this product. I would personally love to have this product and I would imagine people like me would also like this idea.