Assignment 20A- Growing Your Social Capital

1)      Domain Expert: Pujan Kavi

Through my father, I came in contact with Pujan, who works as a cybersecurity consultant with Bank of America. As someone who has been trained in cybersecurity, Pujan is aware of many of the threats that exist online. He says the best advice he can give when it comes to cybersecurity is to share as little as possible and not keep sensitive information, like credit card or social security numbers saved on your computer. Even though Google saves 99% of everything we enter online, there are measures we can take before cybersecurity experts get involved. According to Pujan, data breaches and hacks are commonplace in his field of work. Since he works for Bank of America, which is responsible for the financial information of millions of users, he knows the importance of maintaining security. Along with his team he makes sure all data servers are running and only authorized personnel have access to the financial records of clients. Like most banks, Bank of America encourages online banking and transactions. In order to ensure that practices like this can continue, Pujan works behind the scenes to install antivirus/firewall protection, code cybersecurity programs and stay up to date with new technology and potential enhancements for his company. I found Pujan through my father who is also a computer engineer. My father and Pujan took cyber security classes together in college. When I asked Pujan about my potential business idea, he said it definitely was necessary. As the world becomes increasingly cyber, the threat of attacks and hacks are becoming more and more prevalent. As a result having security systems in place to hinder such activities would only help in the long-run. In return for his feedback, I thanked Pujan and would love to work with him in the future. If I could combine Pujan’s expertise in cyber security with my idea, I can develop a concrete product that could help millions of consumers worldwide. By making this contact, I can exploit the opportunity to protect people from having their private information hacked or leaked by those looking to commit fraud or use this information for malicious purposes.

2)      Market Expert: Sanjiv Dave  

I met Sanjiv through my Uncle, as they both work in the IT Department at AMBAC insurance in New York. Since AMBAC insurance represents thousands of clients, a lot of information is gathered about them by the company. Everything from people’s financial records to their social security is collected so that adequate research can be done into whether that individual would make a good client or not. Since AMBAC is an insurance company, Sanjiv and other’s must make sure that whoever the company chooses to represent doesn’t misuse their trust and funds. In return, it is the company’s job to protect the private data of their clientele. Sanjiv must make sure that online files are kept private and don’t fall into the wrong hands. When I asked Sanjiv about my cybersecurity system and if he would potentially be interested in purchasing it in the future, he said if it actually came to fruition he would definitely be in the market. As he stated, there is a need now more than ever to adapt to technological changes and new strategies hackers have implemented to steal private data. It is his responsibility to stay vigilant and up-to-date about all products and services on the market to help him secure his company. According to Sanjiv, if my product enhances cybersecurity with multiple checkpoints and an effective anti-virus/firewall, he would love to try it out in his company and at home. After talking with Sanjiv, I thanked him for his feedback and promised him in an update in a couple of years. I believe Sanjiv and AMBAC insurance represents a large market in the future, because they need effective cybersecurity to ensure that thousands of clientele are protected from online theft.

3)      Supplier: Bhavik Vyas

Bhavik works for Norton Security, which is a cybersecurity program for computers around the world. Norton runs numerous scans, live updates and file cleanups to free up space and prevent viruses from taking hold of computers. As someone who supplies this cyber security program, I asked Bhavik what he thought about my business model. While he said it was definitely needed in today’s day and age, he said I needed to come up with factors that would distinguish me from other competitors. For instance, he said Norton, McAfee and other security programs are all interested in protecting private information and data. He said being able to identify what makes my cybersecurity program standout is really give me a business advantage in the future. Again, I came into contact with Bhavik through my father as they had collaborated on a security project for my dads company in the past. I thanked Bhavik for is very constructive advice and definitely want to implement his tips into my updated plan. I believe he’s advice will really allow me to exploit the cyber security market in the future.

Reflection: Upon interviewing a supplier, market expert and domain expert I can safely say I got essential feedback that will enable me to develop a product that can help millions of people keep their sensitive information secure online. After talking to my three interviewees, I not only expanded my network, but I build connections that could one day help me build a substantial product. As of now, I have no formal training in cybersecurity or IT. However, building these connections gives me hope that I can have the help of individuals in the field to make this cybersecurity system a reality. I also identified potential markets to sell this product to once the time comes. Overall, I believe this process was so valuable and I look forward to doing similar exercises in the future to expand my knowledge and make new connections.

Assignment 19A- Idea Napkin No. 2

You:

My name is Shivani Dave and I am a junior at the University of Florida. I hope to obtain a dual degree in both biology and business, as I hope to one day open my own medical practice. While I want to have my own practice and even maybe start a company, I recognize that cybersecurity is of upmost importance. In whatever endeavor I undertake, I want to make sure that the personal information of my clientele is protected. If patients have trust that their sensitive medical records and other information, like credit card numbers/birthdays are kept secure, they are more likely to stay with my business. In addition to cybersecurity, I hope some of my talents will also lead me to success. For instance, I am a very flexible and open-minded person. This can allow me to adjust to new circumstances or problems that may arise, as well as adopt new ideas that may lead to innovative techniques. Another good quality I have is that I take failure well. Rather than being discouraged or giving up after receiving negative feedback, I try to learn from my mistakes. I understand what I’ve done wrong and try to improve next time around. Although I don’t have much experience in the business world, I have seen relatives run their own practices and I hope to gain experience from them. By applying their experience with my skills, I hope to one day run a successful business. I want my business to keep patient security as its upmost priority, and thereby build a loyal consumer base.

What are you offering to consumers?

I am offering a cyber-security system that ensures consumer safety. Nowadays everything from banking, school to even doctor visits are conducted online. Providing an online platform people can go on, where there is little to no threat of hacking or leaking of private data, is essential. My cyber-security system would have multiple checkpoints and up to date antivirus/firewall protection. These checkpoints would ask much more than a birthday, code word or company password in order to log on to the system. In addition, the firewall/antiviral programs would be tested and put up against companies specifically targeted at stealing private information. With these measures, I hope to provide a cybersecurity system that will ensure consumer safety.

Who are you offering it to?

My product/service is for everyone all over the world, but especially for businesses looking to build their consumer trust and reputation. In today’s cyber world, everyone is impacted by online hacks and leaking of sensitive data. Cyber fraud and identity theft are also on the rise. This means that in some way or another, everyone is subject to cyber security threats. Having adequate protection is essential to impede those looking to steal your private information. Businesses that adopt my cyber security program, will see an increase in consumer loyalty as people are more likely to interact with businesses that protect their private information. This will in turn lead to a larger consumer pool, who will spread the business and enhance its reputation in the long run.

Why do they care?

When people go online or interact with a business, they want to make sure that their credit card numbers, social security information, medical records and other sensitive information is kept private. They don’t want fraud or identity theft to occur and they definitely don’t want someone to gain knowledge about their personal information and sell in to a third party. Mostly everyone with a phone or computer cares because they want their private information to be protected.

What are your core competencies?

My core competencies are being resilient and hard-working. I know creating such an in depth cyber security system will require a large team and a substantial amount of trial and error. However, one thing all my friends and family can attest to is that even if I get knocked down a thousand times, I always adjust what I did wrong initially and try again. Another factor that can help me in the future, is the connections I have with doctors and software engineers in my family. They can help me understand the problems out there to a better degree, and help me create a program that will truly match consumer needs. They can even help me get in touch with people that will increase my network and consumer pool once I choose to launch my business.

While I believe all the elements of my potential business plan fit well together, there are some questions as to how this will be achieved. For instance, if I come up with a cyber security system and market it to everyone, there is a chance that people looking to commit fraud will buy it and use it for malicious purposes. They may purchase it and figure out how to crack it and then use this knowledge to hack onto other systems to steal private information. Although there isn’t a foolproof plan to prevent this from occurring, if I can somehow find a way to screen who is buying my product I can figure out who wants it for genuine reasons from those looking to commit fraud. Another detail I haven’t worked out yet is how to incorporate this system into a large company. Even though the head of a hospital may adopt this cybersecurity program, they must provide training on how to use it effectively. Without this additional training, employees may be confused and not use it correctly. The downside of this would be that the business would still be under threat, due to improper use or complacency. Despite these questions I have about integration and circulation, I believe the ideals of my business model fit well together. With a little bit of trial and error, I believe other elements will also fall into place. Feedback Memo- Two main points I took away from the feedback I received on my last idea napkin was the importance of acquiring knowledge and experience, as well as being able to apply this to the real world. When writing this idea napkin, I tried to highlight the current knowledge I do have, and how I plan on increasing my network and knowledge about cybersecurity.

Assignment 17A- Elevator Pitch No. 2

Assignment 17A- Elevator Pitch No. 2

1)      Link: https://www.youtube.com/watch?v=AH92ItoUM8I

2)      My video did not upload correctly last time so unfortunately, I wasn’t able to receive any feedback on my last elevator pitch. However, looking back, I definitely could’ve improved on my inflection, flow and making more eye-contact with the hypothetical audience. I tried to incorporate these tools in this elevator pitch. I also tried to emphasize the threat of cyber-security and why it would be smart to purchase this product right now. By heightening people’s sensitivity to the matter, I hope it’d attract more potential customers.

3)      Based on my own assessment of elevator pitch No.1, I tried to talk louder and annunciate between my words. In my first pitch, there were times when I would mumble or wouldn’t be clearly audible. So, I definitely made a concerted effort to be as clear as possible and make useful hand gestures to help with the pitch. I also emphasized the reasons behind why people should purchase this product. Last elevator pitch, although I touched on why consumers should be interested in securing their private data, I didn’t really highlight all the threats. In addition, I added a conclusion this time around. During my first elevator pitch, there was more of an abrupt ending. This time I ended the pitch with why it was better to be safe rather than sorry, and asked the customers a direct question about what they were waiting for.

Assignment 18A- Create a Customer Avatar

Assignment 18A- Create a Customer Avatar

My customer avatar is an average cybersecurity employee at a tech company. As he’s responsible for the safety of his company’s personal data, he is on the lookout for software that will enhance security checks and also implement a tougher firewall/anti-virus program. In today’s day and age, the threat of online intrusion and leaks is very real. My prototypical customer is someone looking to prevent hacks and stealing of sensitive information that could compromise people in his company. I would imagine my customer to be somewhat tech savvy, have had negative experience with online invaders and is responsible for protecting personal/private data. They would commute to work every day in a black SUV, to be as covert as possible, and have a family they are also looking to protect with cybersecurity at home. Hypothetically, they would have 2 children at home and they would be in their early teens. As a father, my prototypical customer would’ve already instructed his children on the dangers of the internet and implemented measures to protect his families’ private records/information. My prototypical customer would be in his late 40s-mid 50s, but would definitely feel younger. They would be updated on current politics and be interested in reading about new developments in cybersecurity. They would try to gather as much information as possible to simultaneously protect themselves and their families, as well as the corporation for which they work for.

There are many things I have in common with my prototypical customer. Even though I am not a cybersecurity employee at a tech company, I too want to protect my private information from online hackers. These days banking, shopping and even school are online. With the outbreak of the coronavirus, much of our time will be spent online. We need to be able to protect out credit card information, academic credentials and other sensitive data from people trying to steal it. So like my prototypical customer, I am also on the lookout for new antivirus/firewall protection that runs multiple checkpoints before someone access granted.  I find that the things I have in common with my prototypical customer are not a coincidence, but merely a reflection of my personal concerns. In addition, I believe these worries are shared with the majority of the population. We all hope that sensitive information doesn’t fall into the wrong hands as the world becomes increasingly cyber.

16A- What's Your Secret Sauce?

1)      Five ways in which I think I have human capital that is truly unique is that I am very open-minded. I have my own individual thinking and beliefs, however if an opportunity comes along I am open to adjusting my views. In that way, I’m very adaptable as well. In both business and life, a lot of situations don’t go as plan. Being able to shift with the situation and mold yourself to current circumstances can really help if there is a major change. Another quality that makes me unique is that I am very resilient. Even if a hundred doors are closed on me, I still find a way to get to my goal. Although I listen to other people’s opinions and am willing to compromise, if there is something I really believe in, I will fight to get it accomplished. Another trait that would really help me as an entrepreneur is that I am very approachable and easy-to-talk to. People who support my beliefs and even those who oppose it feel comfortable around me. I am able to have an open discussion and shift my viewpoint if someone else’s view makes better business sense. Lastly I am very loyal, while this can be a blessing and curse, I believe it will help in entrepreneurship. Anyone who is willing to help me in my journey, I am likely to build an extremely trusting relationship with. Although this doesn’t mean that I am reliant on others, I just build close connections that could come to use should I ever need them.

2)      From all the interviews I conducted, the majority of people said I was friendly, hard-working, approachable, determined and creative. I believe all these attributes, combined with the fact that I’m not afraid to fail will really help me in entrepreneurship. Although other people may possess some of the traits listed above, most people give up after getting knocked down and being denied over and over again. While I have never been exposed to too much of the business world, I have had extremely trying times through which I have always found a way to bounce back or adapt. This is why some of my friends also stated that I was determined and hard-working. The interviews are uploaded on the following links on YouTube  https://www.youtube.com/watch?v=mDXWzKxibvA , https://www.youtube.com/watch?v=-_18UU6b09w , https://www.youtube.com/watch?v=mNBLB7JOyaA ,

https://www.youtube.com/watch?v=LjU4jYFczxw ,

https://www.youtube.com/watch?v=9_HO8sdsrmI

3)      I believe for the most part my interviewees were correct in how they view me. Despite this, I think I do have to work harder to truly live up to all the affirmations. For instance, although I am good with people and very friendly, I can do better in maintaining close connections and also building a network that will one day help me should I decide to run a business. I also think I need to improve my time management skills. Although my friends stated I was diligent and hard-working, I feel as though I would get so much more accomplished if I improved on not procrastinating. However, I do acknowledge that I’m creative, friendly and love to be challenged. Whenever something comes too easy, I am always suspicious about it and am not afraid to grind. If I could make any corrections to my list above after interviewing 5 people, I would add creative and hard-working. This is because for entrepreneurship, innovation is key. Adding something that is completely missing from the market and being able to add your creative spin on it can really go a long way.

15A- Figuring Out Buyer Behavior No. 2

The segment of interviewees I chose were people who had been hacked or had a problem with online leaks in the past. For my first interview, I chose my roommate Caroline who had inadvertently liked a Ray-bans ad on Instagram and subsequently found Ray-bans ad posted to her Instagram page. All she did, was accidentally like an ad and then had her account “hacked.” After talking with her I realized that she really wanted to find a way to protect her privacy, especially on social media. Although she is on the lookout for a better protective/anti-virus system, she acknowledges her limitations. She isn’t willing to spend a lot in order to secure her private data. As a college student, she has a lot of other things to pay for before she can devote substantial money towards online safety. In regards to quality and style, she definitely prioritizes the former over the latter. According to Caroline, regardless of the looks of a security/check-point system she wants it to be effective. She wants something that will offer quality protection if she pays for it. Another thing she mentioned, when asked what she would prioritize when purchasing, was a system that wouldn’t take up too much space on her computer. She takes a lot of online classes, has pictures and other things already clouding her laptop, so downloading a program that will take up a significant portion of space isn’t ideal.

When I asked her if she was more likely to purchase a security software online or in-person with someone knowledgeable about the subject matter, she said she would rather do it in-person. This is because she isn’t aware of all the systems out there, and feels if she went to someone who understood her needs and was able to provide a cheap, safe solution it would be better. She said she would most likely use a credit card to make the purchase and try to do a free trial period, so if it isn’t effective she can cancel her subscription. When I asked her who would be involved in the purchase decision, she said she would definitely consult someone at a tech-store, as well as her dad before making a purchase. She judges the “rightness” of a purchase based on how much use she gets out of it, how long it stays in good quality and how effective it is. She knows she’s made a bad decision if there is a cheaper alternative on the market that achieves the same purpose and is just as good in quality. Also if a product wears down or breaks right away, she says she probably could’ve made a wiser decision.

The second person I interviewed was my cousin Nidhi who is currently an attending resident at Mt. Sinai. A few years ago she witnessed someone trying to steal patient records and data from her hospital and notified heads right away. Ever since then, her hospital has improved its cyber-security tremendously, but is still looking for ways to effectively secure sensitive patient information. Although she isn’t in charge of purchasing a system to achieve this, she can lend her opinion to those that are. When I asked her if price matters, she said to a degree, but since her hospital is one of the biggest in the entire country, they’d probably be willing to spend a lot in order to ensure security. In addition, she said quality rather than style was most important. Patient records can be mishandled and used for malicious purposes, so a system that protects this online data effectively is what matters. Another factor she mentioned was the importance of more checkpoints. She said that while their current system has multiple checkpoints, the information needed to access patient files isn’t very hard to find. Having a security system with passwords and key information that isn’t easily accessible is what would really help secure the system. Our hospital is most likely to purchase a security system online because we are trying to update our cyber-security.

According to Nidhi, since this would be a system to enhance the online security of the entire hospital they would most likely finance the purchase. The heads of our department and IT team would be in charge of the ultimate decision and purchase. Nidhi states that when she thinks about right purchases she made in the past, she thinks about products or services that she used over and over again, an made life easier and fun. When she thinks about bad purchases, she thinks about stuff she bought that only got a 1 time use and are still in storage to this day.

The last person I interviewed was my dad who works in the IT department for Cerebral Palsy in New York. Since my dad is one of the managers at the IT department he is in charge of purchasing software that is up to date and effective in protecting thousands of computers and servers. When I asked him if price matters, he stated that while he considers price, he mostly takes into account quality. He looks at the software and how a product is manufactured before purchasing anything. For a security system, he also takes into account whether or not a company offers a trial period. Since my dad manages so many computers on a daily basis, trying out a security system before implementing it for the entire network is essential. He always wants to make sure he’s a step ahead of people trying to steal information from the company and private user data. According to my dad by analyzing critical information of a security system and comparing it to others out there, he usually makes purchases online. Since he works for a big company, this purchase is usually financed. When I asked my dad what he considers a right purchase he stated something that is good quality, relatively cheap and can last a long time. He considers a bad purchase to be something that breaks down easily or is too expensive for what is given in return.

Following my interviews, I can definitely acknowledge that there is a big and diverse market for cyber-security. Many people are looking to protect private date and sensitive records from hackers or companies specifically targeted at stealing information. My interviewees all had similar answers for what they considered good and bad purchases. They want something that is relatively inexpensive, effective, good-quality and long-lasting. Another factor they all had in common was quality over aesthetics, when it comes to a security system. Depending on whether they are looking to purchase for themselves or for a large corporation, their answers on the method of purchase varied. In addition, the specific qualities they were looking for in a security system also varied based on where they worked and what they needed it for. In terms of alternative evaluation, purchase decision and post-purchase evaluation, I believe this segment took into account all the right factors when trying to boost their cyber-security. They all want bang for their buck and are interested in quality, rather than price or looks.