Economic Trends
1) Strengthening Global Demand
https://commercial.jpmorganchase.com/pages/commercial-banking/executive-connect/six-key-economic-trends
This article states that Global Demand is gaining momentum and GPD is forecast to rise by 4 percent this year across Europe and Japan. If this forecast is true, then there would be a good opportunity for companies in the U.S. who export items overseas. The prototypical customer would be anyone who lives in Europe or Japan and wants to buy exports from the U.S. I would think this opportunity would be fairly easy to exploit because of the demand for U.S. made products in other countries. I saw this opportunity because if Global Demand is increasing it is inevitable that people will want to buy more of what they want.
2) Rebounding from Natural Disasters
https://commercial.jpmorganchase.com/pages/commercial-banking/executive-connect/six-key-economic-trends
This article is about rebuilding after natural disasters like the hurricanes that tore up Texas and Florida last year. If this year's hurricane season is anything like last year, there will be a great opportunity for construction and building in areas affected by a hurricane or other type of natural disaster, flooding for instance. The prototypical customer is going to be anyone who sustained damage to their home, business, or commercial property due to any natural disaster where rebuilding is needed. This opportunity will be easy to exploit due to the regular occurrences of some type of natural disaster that happen every year in the U.S. I saw this opportunity because natural disasters happen every year in some form. People will always rebuild and not just walk away from the problem.
Regulatory Changes
1) Tax Policy Changes
https://www.businessnewsdaily.com/7671-regulatory-issues-changes.html
This article is directed towards the small business owner who may benefit from the new tax policy reform. It's believed that this new tax reform will provide many opportunities for the small business owners. It should be easier for small businesses to start up and survive in the long run because of the tax reform and it will also provide more incentives to owners who want to start a new business. The prototypical customer will be anyone who has the resources available and the desire to be a small business owner. Entrepreneurs should benefit greatly from the new tax reform policy. I think it should be easy to exploit this opportunity as long as the necessary resources are available to the person interested in a new venture. I saw this opportunity because a large number of people dream of owning a business and being independent. With this tax reform, it should be easier for many to achieve that dream or goal.
2) Portable Benefits Rules
https://www.businessnewsdaily.com/7671-regulatory-issues-changes.html
This article addresses the gig workers who move around from job to job. These people are freelance workers, independent contractors, or temporary workers. Over one-third of Americans fall into this worker category. These workers are not eligible for company-paid health insurance or 401k programs. The opportunity for portable benefits is being addressed more now than before because if benefits aren't made available to these workers, it will pull down productivity and impact the health of the workers. The prototypical customer is anyone working as a gig worker or considering becoming a gig worker. According to the article, the need for the workers to have these benefits can't be ignored and widespread action to have benefits available will happen soon. It should be easy to exploit this opportunity knowing that these workers make up one-third of the workforce. I saw this opportunity because there are many workers who would like to be an independent contractor but can't because no benefits are available to them, so they have no choice but to work for someone who provides them with benefits or pay out of their own pocket for benefits.
Thursday, May 31, 2018
Wednesday, May 30, 2018
Assignment 5A Identifying Local Opportunities
1) L.A.'s only school for deaf hits crisis point; Parents demand a principal fluent in American Sign Language
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046421851/fulltext/DFED3668BB945F1PQ/22?accountid=10920
This article is about L.A.'s only public school for deaf children. The parents of the deaf children are upset with the principal not being able to understand the students.
The problem is that the principal of this school doesn't know American Sign Language.
I think that a majority of all principals have this problem. The qualifications to become a principal don't mandate they know sign language.
2) Now Encino folks decry drivers' Waze
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046420020/fulltext/EC14C17EF6124A42PQ/23?accountid=10920
This article is about a once quiet neighboorhood street now having too much traffic because of apps telling drivers they can save seconds off their commute to work.
The problem is drivers using navigation apps. The navigation apps are intended to provide the quickest route possible. The apps don't know if a certain street is in a quiet neighborhood or not.
The navigation apps have the problem because they can't tell the difference between busy and quiet neighborhood streets.
3) From PR crisis to teachable moment; Starbucks is among a growing list of firms using bias training.
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046424078/fulltext/EC14C17EF6124A42PQ/30?accountid=10920
This article is about why Starbucks closed all its 8,000 U.S. company-owned stores Tuesday, May 29th. Starbucks was training its employees to prevent using unconscious bias towards customers. Most employees never get this training when hired at any job.
The problem started when a Starbucks employee called the police on 2 black men who were waiting for a friend to join them in Philadelphia. The employee who called the police did not know the facts before the police were called.
All employees in the world potentially have this problem because of lack of proper training.
4) Barr is called out; After comedian causes uproar with an 'abhorrent' racist tweet, ABC promptly cancels 'Roseanne'
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046424686/fulltext/726F395E9DC24653PQ/1?accountid=10920
Roseanne Barr made a racist tweet about a former Obama aide. ABC thought she had gone too far and canceled her show.
The problem is Roseanne drew too much attention to herself and ABC when using social media.
All social media has this problem because there are no consequences for people who go too far and post inappropriate thoughts.
5) Criminal probe into USC doctor intensifies; LAPD investigates 52 misconduct claims by former patients of the gynecologist, urges others to step forward.
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046424726/726F395E9DC24653PQ/2?accountid=10920
The L.A. police department is investigating 52 complaints against a Doctor was employed by USC for 30 years.
The problem is that this Doctor who worked for USC for 30 years has 52 complaints against him for sexual misconduct when he gave patients exams.
All Doctors could have this problem if they aren't being monitored by someone. If the Doctors aren't held accountable for their actions this problem could go undetected for years before people decide to stand up and say something about the abuse.
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046421851/fulltext/DFED3668BB945F1PQ/22?accountid=10920
This article is about L.A.'s only public school for deaf children. The parents of the deaf children are upset with the principal not being able to understand the students.
The problem is that the principal of this school doesn't know American Sign Language.
I think that a majority of all principals have this problem. The qualifications to become a principal don't mandate they know sign language.
2) Now Encino folks decry drivers' Waze
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046420020/fulltext/EC14C17EF6124A42PQ/23?accountid=10920
This article is about a once quiet neighboorhood street now having too much traffic because of apps telling drivers they can save seconds off their commute to work.
The problem is drivers using navigation apps. The navigation apps are intended to provide the quickest route possible. The apps don't know if a certain street is in a quiet neighborhood or not.
The navigation apps have the problem because they can't tell the difference between busy and quiet neighborhood streets.
3) From PR crisis to teachable moment; Starbucks is among a growing list of firms using bias training.
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046424078/fulltext/EC14C17EF6124A42PQ/30?accountid=10920
This article is about why Starbucks closed all its 8,000 U.S. company-owned stores Tuesday, May 29th. Starbucks was training its employees to prevent using unconscious bias towards customers. Most employees never get this training when hired at any job.
The problem started when a Starbucks employee called the police on 2 black men who were waiting for a friend to join them in Philadelphia. The employee who called the police did not know the facts before the police were called.
All employees in the world potentially have this problem because of lack of proper training.
4) Barr is called out; After comedian causes uproar with an 'abhorrent' racist tweet, ABC promptly cancels 'Roseanne'
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046424686/fulltext/726F395E9DC24653PQ/1?accountid=10920
Roseanne Barr made a racist tweet about a former Obama aide. ABC thought she had gone too far and canceled her show.
The problem is Roseanne drew too much attention to herself and ABC when using social media.
All social media has this problem because there are no consequences for people who go too far and post inappropriate thoughts.
5) Criminal probe into USC doctor intensifies; LAPD investigates 52 misconduct claims by former patients of the gynecologist, urges others to step forward.
https://search-proquest-com.lp.hscl.ufl.edu/docview/2046424726/726F395E9DC24653PQ/2?accountid=10920
The L.A. police department is investigating 52 complaints against a Doctor was employed by USC for 30 years.
The problem is that this Doctor who worked for USC for 30 years has 52 complaints against him for sexual misconduct when he gave patients exams.
All Doctors could have this problem if they aren't being monitored by someone. If the Doctors aren't held accountable for their actions this problem could go undetected for years before people decide to stand up and say something about the abuse.
Friday, May 25, 2018
Assignment 4A Opportunity Belief
I believe there is an unmet need that people have when thinking about adopting a pet. In my opinion, there are thousands of people who would love to adopt a new pet and have a companion but are hesitant because of their daily routine or schedule. I believe this need to have a pet companion has been a need for years by both single people who live alone and established families who have children. Right now their need is mostly not met due to their concern about leaving the pet at home while they are away. As a result of their concern, millions of pets sit homeless in animal shelters across the world. I'm 75% confident that this opportunity exists.
The prototypical customer would be anyone who loves animals who would adopt a new companion if they could feel more comfortable knowing there are ways to monitor the pet when they can't be at home.
Prototypical customer 1. The next door neighbor single male in late 20's.
Answer: "Yes, but I work during the week and don't know if leaving the pet alone is safe."
Prototypical customer 2. A family I ran into at PETSMART in Butler Plaza in Gainesville.
The prototypical customer would be anyone who loves animals who would adopt a new companion if they could feel more comfortable knowing there are ways to monitor the pet when they can't be at home.
Prototypical customer 1. The next door neighbor single male in late 20's.
- Do you need a non-human companion to keep you company?
Answer: "Yes, but I work during the week and don't know if leaving the pet alone is safe."
- How long have you thought of the need for a pet?
- How are you addressing your need for a companion pet?
- Are you satisfied with your solution of not having a pet because of concerns about leaving it alone?
- What if I told you there are ways to monitor your pet while you're away and feel at ease?
Prototypical customer 2. A family I ran into at PETSMART in Butler Plaza in Gainesville.
- Do you need a non-human companion to keep you company?
- How long have you thought of the need for a pet?
- How are you addressing your need for a companion pet?
- Are you satisfied with your solution of not having a pet because of concerns about leaving it alone?
- What if I told you there are ways to monitor your pet while you're away and feel at ease?
Prototypical customer 3. A random female I ran into while walking my dog in the neighborhood.
- Do you need a non-human companion to keep you company?
- How long have you thought of the need for a pet?
- How are you addressing your need for a companion pet?
- Are you satisfied with your solution of not having a pet because of concerns about leaving it alone?
- What if I told you there are ways to monitor your pet while you're away and feel at ease?
Reflection
I do believe that just by talking to these people in three different situations that my original assumption about why people are hesitant to adopt a pet is true. The most surprising thing is that in all three situations the people didn't know there was a way around their biggest fear which was leaving the pet alone and to be able to feel comfortable doing it. If people knew there are ways to monitor a pet while they're away chances are greater that these people would satisfy their need and adopt a pet.
Summary
I believe that all of my original opportunity still exists. It's possible though that the opportunity could drop to around 55% just because people are hesitant to do something from only hearing things without actually seeing something first hand. This would lead to my new opportunity to be less accurate than when I started. I think entrepreneurs must always adapt their opportunities based on customer feedback because if there is no need by the customer, the opportunity can't move forward.
Thursday, May 24, 2018
Assignment 3A Entrepreneurship Story
Even though my Dad was a Pharmacist by trade the majority of his relatives were in the farming industry in central Illinois. Over the years the family acquired a large amount of land, in excess of 100,000 acres. The land was passed down over the years to the younger generation as the elder family members passed away. About 15 years ago my cousins who are my age took control of the land. These family members are college educated and farming is not high on their list of what they wanted to do with their life. My cousins decided they wanted to explore other ways to use the land they inherited and the first thing they did was take some of the land and turn it into an 18 hole Championship Golf Course. A golf course takes years to fully develop into what it is first envisioned to be. Now 10 years later it has become one of the finest golf courses in the area. After they found success with this venture they have now purchased and built 3 more golf courses in the area. The small amount of land used to build these golf courses compared to farming the same area makes more money than what farming the whole 100,000 acres ever brought in. I'm very fortunate to have close family members who built their fortune from the ground up.
To be honest I picked this class because it seemed interesting and I think it might be useful to me in the future considering what my family situation is. I, like my cousins, didn't follow and do what our parents did. When I graduated high school my Dads goal was for me to be a Pharmacist like him but I just didn't like the idea of being cooped up indoors working all day. That's my story and here are two of my favorite pictures with my best friend.
To be honest I picked this class because it seemed interesting and I think it might be useful to me in the future considering what my family situation is. I, like my cousins, didn't follow and do what our parents did. When I graduated high school my Dads goal was for me to be a Pharmacist like him but I just didn't like the idea of being cooped up indoors working all day. That's my story and here are two of my favorite pictures with my best friend.
Assignment 2A Bug List
1) Waiting for the water in my shower to get hot in the morning.
Why it exists: The hot water in the pipe gets cold if not being used.
2) The shopping carts at Walmart in Butler Plaza that have wobbly or stuck front wheels.
Why it exists: Not enough regular maintenance being done on the carts.
3) In and out reception watching DIRECTV during thunderstorms.
Why it exists: The cloud coverage prevents the signal transmission to the outside dish.
4) People who blast music in their cars in Gainesville off campus.
Why it exists: The people turn the volume up too much.
5) Senior people in line at Publix in Williston Plaza taking forever to pay when checking out.
Why it exists: The age of the senior people has caused them to slow down over time.
6) People that get on the bus at Reitz Union and don't have their pass or money out when boarding.
Why it exists: The people aren't prepared for boarding the bus.
7) Missing a one-foot putt at Gainesville Country Club.
Why it exists: I didn't take my time while putting and just assumed I would make it.
8) Sunglasses that fog up when going from the A/C in my house to the heat outdoors.
Why it exists: The sunglasses change temperature too quickly.
9) People who all of a sudden budge in front of me when driving on Archer Rd. near Butler Plaza.
Why it exists: The people aren't in the correct lane when they approach their turn.
10) Pine Sap that gets on my outdoor Weber grill.
Why it exists: The pine tree in my backyard drips sap in the hot weather, and I don't cover the grill.
11) Bitesquad in Gainesville not accepting cash payments for food orders.
Why it exists: Bitesquad corporation has made the decision to only accept credit card payments.
12) My dog putting kibble in his mouth and then dropping it on the floor without eating it.
Why it exists: My dog is in too much of a hurry to finish the food in his bowl.
13) Garbage trucks in my neighborhood being loud at 6 am.
Why it exists: The garbage truck drivers go too fast over the speed bumps.
14) UF students talking or texting while driving instead of paying attention to the road.
Why it exists: The students are addicted to their phones no matter what the situation is.
15) The fan in my bedroom wakes me up during the night.
Why it exists: The fan is old and the bearings inside it cause it to get noisy at times.
16) People who drive in Gainesville and go around a bus when it stops at a bus stop.
Why it exists: The people who go around the bus are ignoring the law.
17) People who honk their horn in my neighborhood when picking people up.
Why it exists: It's easier for the driver to honk instead of knocking on the door or calling.
18) Calling my Dad and getting a mailbox is full message when trying to leave a voicemail.
Why it exists: He doesn't delete his voicemails often enough.
19) People in my neighborhood who don't pick up after their dog after it goes potty.
Why it exists: They do it because they think nobody's around to see them.
20) Too many emails in my inbox from people I don't know.
Why it exists: My email address is being shared among companies I communicate with.
Reflection
I found this assignment interesting and when looking at things around me found many more than just 20 bugs in my daily life. I didn't find it as hard as I first thought it might be because I don't like to stress over things I can't control.
Why it exists: The hot water in the pipe gets cold if not being used.
2) The shopping carts at Walmart in Butler Plaza that have wobbly or stuck front wheels.
Why it exists: Not enough regular maintenance being done on the carts.
3) In and out reception watching DIRECTV during thunderstorms.
Why it exists: The cloud coverage prevents the signal transmission to the outside dish.
4) People who blast music in their cars in Gainesville off campus.
Why it exists: The people turn the volume up too much.
5) Senior people in line at Publix in Williston Plaza taking forever to pay when checking out.
Why it exists: The age of the senior people has caused them to slow down over time.
6) People that get on the bus at Reitz Union and don't have their pass or money out when boarding.
Why it exists: The people aren't prepared for boarding the bus.
7) Missing a one-foot putt at Gainesville Country Club.
Why it exists: I didn't take my time while putting and just assumed I would make it.
8) Sunglasses that fog up when going from the A/C in my house to the heat outdoors.
Why it exists: The sunglasses change temperature too quickly.
9) People who all of a sudden budge in front of me when driving on Archer Rd. near Butler Plaza.
Why it exists: The people aren't in the correct lane when they approach their turn.
10) Pine Sap that gets on my outdoor Weber grill.
Why it exists: The pine tree in my backyard drips sap in the hot weather, and I don't cover the grill.
11) Bitesquad in Gainesville not accepting cash payments for food orders.
Why it exists: Bitesquad corporation has made the decision to only accept credit card payments.
12) My dog putting kibble in his mouth and then dropping it on the floor without eating it.
Why it exists: My dog is in too much of a hurry to finish the food in his bowl.
13) Garbage trucks in my neighborhood being loud at 6 am.
Why it exists: The garbage truck drivers go too fast over the speed bumps.
14) UF students talking or texting while driving instead of paying attention to the road.
Why it exists: The students are addicted to their phones no matter what the situation is.
15) The fan in my bedroom wakes me up during the night.
Why it exists: The fan is old and the bearings inside it cause it to get noisy at times.
16) People who drive in Gainesville and go around a bus when it stops at a bus stop.
Why it exists: The people who go around the bus are ignoring the law.
17) People who honk their horn in my neighborhood when picking people up.
Why it exists: It's easier for the driver to honk instead of knocking on the door or calling.
18) Calling my Dad and getting a mailbox is full message when trying to leave a voicemail.
Why it exists: He doesn't delete his voicemails often enough.
19) People in my neighborhood who don't pick up after their dog after it goes potty.
Why it exists: They do it because they think nobody's around to see them.
20) Too many emails in my inbox from people I don't know.
Why it exists: My email address is being shared among companies I communicate with.
Reflection
I found this assignment interesting and when looking at things around me found many more than just 20 bugs in my daily life. I didn't find it as hard as I first thought it might be because I don't like to stress over things I can't control.
Monday, May 14, 2018
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