20A – Growing Your Social Capital

1)      Keith Gregor, a certified financial advisor. He has been trading for the past twenty years. He also manages retired folks accounts.

2)      Keith is a domain expert. He has been in and out of the markets for the past 20 years. His knowledge on trading and investing are key qualities that can enhance my business idea. He provides a similar type of business, however, does the investing for the client

3)      I did an internship at the South Florida Educational Federal Credit Union. He eventually left the credit union and began his own venture investing for high end clients. We became good friends after the internship, and he became my mentor. I have his personal contact information.

4)      Mentor relationship. He’s told me several times that he’s willing to help with nothing in return.

5)      Including Keith into this network will enhance my knowledge on the many aspects there are to trading and investing, especially dealing with different customer profiles.

1)      Keith Reichert, a hedge fund manager that works for Nomura Securities. He is my teacher’s childhood friend.

2)      He is the market expert, considering he lives in New York and is associated with Stocktwits, a social media platform that enables traders to share ideas. He even shared some of his ideas on trading through podcast and gives advice on the emotional end of trading.

3)      My teacher in 10^th grade put me in contact with him because of my passion for finance. He has been my mentor since I was 15 years old.

4)      Again, this a mentor relationship. He expects nothing in return. He only wants to help me grow in the finance world, whether its my business idea, or trading.

5)      He will play a huge role in attracting customers through Stocktwits, to find active traders. He plays a major role in deciphering the demographics as well.

1)      Matthew Almeida, my cousin. He’s an entrepreneur. He’s been trading since he was 22 years-old.

2)      Matthew is the supplier expert, considering he’s tried multiple times to supply products, such as books, podcast, and trading software to enhance trading performance. However, Matthew’s products are treating different areas.

3)      He is my cousin.

4)      Family does many things for each for free

5)      His abilities as an entrepreneur and providing different products for trading will broaden my client base.

Reflection: Engaging with new contacts will allow me to be more confident networking for future business models. This experience was definitely different from the past considering they are being introduce to a business plan and will be helping me.

19A – Idea Napkin No. 2

About Me: 

My name is Michael Almeida. I am 20 years old, and I am a Junior at UF. I am pursuing a degree in business administration with a specialization in finance. I have been trading in the markets since I was 15 years old. I opened my trading account when I was 18.I managed my parents portfolio when I was 16 and had a return of 140% over the past 4 years. I am very passionate about financial literacy taught at a young age. I love helping people financially. I believe everyone is going through their struggle, and if money is a problem, then it is a problem that can be solved. In my spare time, I stream live videos of trading, where people watch me and see how I trade. This is another way I make money. I want to revolutionize the trading world, especially the retail-traders who consistently lose money in the markets. I have connections to over 100 traders around the US who trade daily. I stream on twitch and currently have 96 subscribers who pay five dollars per month. 

What am I offering?

I am offering a product that analyses traders’ facial expressions as they trade to prevent any trades that are likely to lose money. This product is offered to all retail-traders who trade in the market, which is concerned with trading with emotion. The product will connect personally to the trader who is using the software. Not only is this product offered to retail traders, but to traders in huge hedge funds as well.

Demographics:

I am marketing my product to any all traders whose primary income is trading in the markets. As well as traders who biggest problem is getting emotional with their money while trading. Trading can be done anywhere. However, I would like to focus on US traders for my product primarily. In the beginning, I want to target smaller locations with the highest trading activity; for example, New York, Chicago, Boston, etc. Primarily, I would like to focus on customers who are associated with Stocktwits, so I can attract active traders. 

Why do they care?  

I believe that people, especially traders, whose primary income is in the markets, want to improve their ‘salaries’, their performance in the market. If there was any way to suppress their human emotion that is tied to their money, then I believe they would want the product. Every day a trader checks their account balance in their portfolio, and each day they may check several times. Every day they think of why it is that number, and they know the mistakes they made that resulted to where they are now. Most of those mistakes are emotion-based trading.

Core competencies: 

There is no product out there that connects personally to the trader. There may be some podcasts or articles that advise certain personality traits. However, it does not know the person’s trading habits. I have connections to many traders in the US who trade daily.

             I believe these five elements fit together nicely. My background supports the reason why I want to implement my product on the market. I have many connections that help grow the product, whether it may be diversifying facial expressions analyzed by the software, or marketing-wise. The demographics will solely focus on populations with the most trading activity to connect to the traders who need it most. Most importantly, I believe every trader, especially the ones living off their portfolios, want to increase their income. They want to better themselves while trading.  

Feedback Integration:

 I got some positive feedback from my recent post on my napkin idea. I incorporated performances that I had in trading. For example, the returns I had while managing my parents account and my won. I did this because they are pretty well notable achievements, specifically in trading. I also mentioned my streaming platform a bit more because it does relate to my business idea. I have a follower count, as well as a subscriber count of 96 who are active traders in the market. I also elaborated on my demographics, because I only mentioned a few cities. Including customers who are associated with Stocktwits will enable me to see which customers are active in trading. 

17A – Elevator Pitch No. 2

https://www.youtube.com/watch?v=e_f60PvA5Jo



2) I felt that the feedback I received was extremely helpful. Instead of introducing myself, even though my experience ties into my business idea, ultimately strays away from the big idea. What stood out the most was the feedback that people understood the product, even though they may know nothing about trading in the markets.

3) I changed my introduction. I focused on the problem and worked up to my solution- the product.

18A – Create a Customer Avatar

Customer Avatar

I clicked random for my random and he was the first one to pop up. Anyone can be a trader, there's no unique way a trader may look. However, all traders love their charts, books, and many monitors. I threw two of my favorite books that many investors enjoy reading into this photo. The youngest you can be to have a trading account is 18 years-old, although I started when I was 15. Traders listen to podcast and watch other traders stream, which is why I included this background with a mic.

Questions

I am a trader, just like my avatar. We both like to sharpen our knowledge with Michael Lewis's books. We both trade stocks for a living. I know this market very well. I've studied in the ins and outs of the market. I can say it's destined that I have several things in common with my avatar.

8A – Solving The Problem

Opportunity: There is a need for traders (traders and investors) to cope with their emotions while trading with their money

Product/Service: A software that analyzes traders’ facial expressions while they trade and statistically make a logically choice on whether the trader wants to take on the trade or not. Everyone has micro expressions that give what their emotions are sayings. If there was a software, along with a special, or regular camera that was able to analyze those expressions and update the trader on average whether they lose money or make money on that given trade.  

7A – Testing the Hypothesis, Part 1

Opportunity: There is a need for traders (traders and investors) to cope with their emotions while trading with their money

Who: Investors or traders in the United States who find it troublesome to cut their losses in their portfolio because of emotional habits

What: They are unable to progress their trading because they trade with emotion when it comes to their money, which results to losing trades.

Why: Money becomes emotional, especially when you are losing it.

Summary of interviews: From interviewing the five people, I found out that all five traders were still dealing with emotional ties with their money. In some cases, each trader has had huge losses because of the fear of losing money. In other cases, some have lost out on money because of the fear of missing out. In each of the interviews, each interviewee has the need to improve their trading by improving their emotional perspective on their trading style. There were different cases of emotion when it came to trade and why they lost money, however, the main outcome was the fear of losing money. Each trader truthfully responded to question that they still feel some type of anxiety when they trade risky stocks. In the end, each of the traders blamed their biggest losses on emotion, while the small losses came from other factors. The interviewees were fascinated by the idea of a product that connects personally with a trader and aids them into making a logical choice instead of an emotional one.

In each of the interviews, each trader was comfortable with sharing their biggest losses. Losses that totaled to tens of thousands of dollars. Some of these stories were helpful, which elaborated on where they went wrong in their process. In each of the five stories, there was a moment where each trader held onto their position in hope that it goes back. Again, in hope. In that time of hope, I asked what emotions were they facing. Did they're social lives change? Could they see themselves producing facial expression that their family, or themselves were not accustomed to? In the end, this knowledge presented the idea that facial expressions are shown while losing money. However, when do these signs start? Do they happen before the storm comes or when the storm finally hits? was able to analyze those expressions and update the trader on average whether they lose money or make money on that given trade.  

6A – Identifying Opportunities in Economic & Regulatory Trends

Opportunity 1: "In Italy, hospitals overflow with the dead"

Link: https://www.phillytrib.com/news/health/coronavirus/in-italy-hospitals-overflow-with-the-dead/article_1efcbbd6-1b44-5ab5-8421-9038bcac1b8c.html

Hospitals are overflowing with patients with the corona virus, an outcome that is likely to happen in the US if measures are not taken. With hospitals being packed with patients, people will need direction on where to be treated. In preparation for the situation to get worse in the states, I believe there is an opportunity to turn companies that are in shutdown period into quarantine centers. The virus may shift the nation’s economy into a state of shutdown, where buildings will become vacant. Those buildings may become an opportunity to treat patients. This opportunity is relatively difficult to exploit, considering companies would not like the chance of lingering germs (the virus) to spread in the company.

Opportunity 2: "How the coronavirus has affected airlines, hotels, and cruises in one chart"

Link: https://www.vox.com/recode/2020/3/10/21171509/coronavirus-covid-19-airlines-lodging-cruises-chart

Cruise ships are losing more and more passengers as the corona virus spreads. We already see the economy (the market) spiraling downward in the main sectors of transportation. This economic trend will slow down, as so will cruise lines. However, I see an opportunity for cruise lines to exploit their resources. While there are more cases of the virus spreading throughout the states, more and more people with be in hospitals. Hospitals will become overpacked, and thus leaving many patients without a place to be quartered and treated. Cruise lines can offer rooming and facilities, not only to US patients, but to neighboring countries who are dealing with this outbreak. This opportunity is relatively easy to exploit considering cruise lines are desperate for some time of way to produce sales. I believe my interpretation of negative situations happening in my life and finding solutions to them has led me to see cruise lines suffering, people with the virus suffering, and both are able to accommodate one another (this goes for opportunity 1 as well).

Opportunity 3: " No gatherings over 50 people, the CDC says. Here’s what couples are doing with their wedding plans."

Link: https://www.washingtonpost.com/lifestyle/2020/03/17/no-gatherings-over-50-people-cdc-says-heres-what-couples-are-doing-with-their-wedding-plans/

The Centers for Disease Control and Prevention gave guidelines to American to not have any social event where it would be gatherings of more than 50 people. Soon we can see laws of not having any social gatherings during outbreaks of diseases. In this devasting situation, I see an opportunity to connect people in specific situations: birthday parties, weddings, funerals, etc. online. Some type of product, unlike factime, or Skype, which enables many users to view an event and be able to chat and interact. I remember when I was little, and I would be sick all the time so I would always call and say hello without going to the even. I always wished their was a way I could interreact with them.  

Opportunity 4: " Volusia County beaches to remain open, enforce new regulations amid coronavirus concerns"

Link: https://www.clickorlando.com/news/local/2020/03/17/volusia-county-beaches-to-remain-open-enforce-new-regulations-amid-coronavirus-concerns/

Some beaches in the US are opened, while some are closed. In Miami, many teens gather in a sense of humor to the outbreak. Regulations will take place in order to keep social interaction distant. Beaches are closed because of worry of close interaction. If lots were placed in order to keep individuals separated, then families, or individuals can enjoy the beach by themselves. These lots can be constructed in a way which enables people to relax at the beach with ease. In the near future, regulator changes could be made to restrict people going to the beach, however, I see an opportunity before this outcome occurs.

15A – Figuring Out Buyer Behavior No. 2

Business Idea Recap:

A software that analyzes trader’s micro expressions as they trade to enhance portfolio return by eliminating losing trades that are tied with signs of anxiety and/or stress.

There is currently no software/product out there in the market that traders can get their hands on.

Big Banks:

Most traders for investment firms have therapist for their traders to cope with the stress that comes with the trading. The same goes for the hedge funds, and other small firms.

Common products like mine

·       Books on how to handle stress with trading

·       A therapist

·       Trading Coach (extremely expensive)

(3-4)

 I believe price matters the most to traders. I mean we’re talking about people who buy and sell for a living. They care about whether their investment in this product is going to return a greater profit. When it comes to trades, they want to buy the cheapest thing with the strongest result. Books are their answer, right until nothing changes over time. Traders want results that happen relatively in several months, especially day traders. Therapist may not be able to cope with someone’s personal trading style. Trading is unique to each trader, a therapist may be able to point on some basics, however, may not be able to give you money. What has the most quality out of the product like mine? Trading Coaches. One of the interviewees had a trading coach to help him with his losing trades, although, it cost him a lot more than what he made those six months with him. The quality is there, the interviewee had one on one actions and some of his trading improved, however, cost and results were a huge factor in this product. What matters most is the results that come from the purchase. One of the traders I interviewed went on to elaborate a concept:

(5-6)

If you spent 50 dollars on a book that teaches you how to handle your losses on your money, the results better out way how much you put into it. Not only did you pay 50 dollars, but you also put in valuable time that you could have put elsewhere. If you didn’t learn anything from that, then you’re losing money.

A crucial customer segment is time needed in order to see results. You don’t know how much time it takes for you to learn something from a book or a trading coach and apply it to your trading. A software that instantly eliminates those bad trades in several months to get accustom to your trading habits is significant. Seeing progress along with the purchase is what matters most, furthermore, progress that you see growing from a purchase that outgrew what you originally payed for. Accessibility is also one of the factors another interviewee pointed out.

What do you love most about trading?

-          He answered: The ability to trade anywhere. If I have internet and a laptop, I can make money. Accessibility is the one of the most important things when it comes to be a trader who likes to travel as well.

I thought about how the software was going to be implanted. Online would be best, which would have the software to be downloaded and kept on someone’s laptop. A custom camera that’s also portable would be available to customers as well. Traders would most likely use cash to pay for this software, which all three of them agreed on. This is not a B2B purchase.

Overall, the three interviews led me to make this product as easy as trading. Make it an online purchase. A software that’s easily downloadable. A portable camera that tracks micro expressions more accurately was liked by all of them. They said that they all travel with a monitor and some time of laptop, so a just having a camera was no problem at all. They all related to how quickly they can see results and whether their purchase was worth it.

Conclusion: Traders don’t want to change anything about their routine for trading. And neither do I, that would ruin the results of my product. From these interviews, I see how simplicity is crucial in this and going through the online route is the best option. As far as post-purchase satisfaction, traders want to feel that they are making progress along with their purchase.

16A –What’s Your Secret Sauce?

Michael Almeida’s Secret Sauce

1.       The way I interpret knowledge. I like to think that I understand how different things may correlate in not just one way, but another creative perception.

2.       I am a very social person. I like talking to people, especially when I do not know anything about the person.

3.       I am a very discipline person when it comes to things that I am passionate about. I try to find time to manage between work and my hobbies.

4.       I try to understand why people do what they do. I try to relate to what they may have gone through. I recollect different emotions when I try to understand people.

5.       I’m a stubborn person. When I know, or when I think I am right over something, one must prove me wrong with evidence or I will not budge.

2. Links to interviews:

Each person was given a set of questions to answer via email and then recorded their answers.

 https://soundcloud.com/mikal-almeida/father-interview

https://www.youtube.com/watch?v=lJaHKHBH7rg

https://soundcloud.com/mikal-almeida/sw-64th-ave-16

https://soundcloud.com/mikal-almeida/brother-kevin

https://soundcloud.com/mikal-almeida/michael-and-mother-interview-final

3. Well this is my family and I knew my mom was going to go a little bit overboard. Some of the qualities they mentioned I never really thought about having. I may perceive them as day to day things that I do, but to my uncle, he took notice to the miniscule traits he pointed out. I am with my interviewees 100%, I think they gave an honest and relatable assessment. I wouldn’t make any corrections to my list, but I will for sure take note on the small traits that they elaborated on.