6A - Identifying Opportunities in Economic & Regulatory Trends

6A - Identifying Opportunities in Economic & Regulatory Trends 


Economic Trend: Rising Gas Prices

• Source: http://www.timesnews.net/lifestyle-travel/2019/01/22/Gas-prices-on-the-rise-as-oil-market-regains-strength
• I believe that with rising gas prices there will be an opportunity created for drivers that work for companies such as uber and lyft because people will be able to save money once prices near their peak.
• I think that the prototypical customer for this opportunity will be vehicle owners who have an average commute of 15 or 20 minutes per day.
• At the moment I believe it will be quite difficult to exploit, however, towards the summer months when the prices climb even more I feel like it could be much easier to convince potential customers to switch up their routine and select a driving service. 
• I saw this opportunity because I personally hate filling up my tank every week and seeing that number climb. It made me think would I actually save money if I decided to uber to work. So I did some research and I think in the future it could be a potential option for me.

Economic Trend: Intrest Rates Rising

• https://www.forbes.com/sites/johnkosar/2018/10/01/get-ready-for-a-big-increase-in-interest-rates/#5d700f316c71
• I believe with intrest rates rising this will cause the housing market to rise because banks will be more willing to give loans out to potential home owners due to it being less risky.
• I think that the prototypical customer will be those of a younger generation and first time homebuyers.
• I think it will be relatively easy to exploit because people always like to buy homes because they think that they are a safe investment. 
• I saw this opportunity because I tend to keep track of such things purely out of interest. I regularly track trends like this and keep close eye on how our country's economy is doing as a whole.

Regulatory Trend: Protection of First Responders

• https://www.workcompwire.com/2018/11/partner-post-4-current-regulatory-trends-and-what-they-mean-for-pharmacy-management/
• I believe that with pending regulations for the protection and care of first responders those in the cancer research field will have a significant opportunity for more funding.
• I think that the prototypical customer for this will be research universities and independent research labs who specialize in caner. 
• I think this will be easy to exploit because our government and current citizens all long for a specific drug or procedure that will help to cure caner and save loved ones.
• I saw this opportunity because there are pending bills that in certain states that mandate firefighters receive expanded coverage on their insurance and retirement plans.

Regulatory Trend: Medical Marijuana

• https://www.forbes.com/sites/bencurren/2018/08/23/how-tech-will-drive-the-next-stage-of-cannabis-regulation/
• I believe that with the impending future of medical marijuana across the united states that insurance companies will be able to exploit this.
• I think the the prototypical customer for an insurance plan that includes medical marijuana will be current users of marijuana.
• I think this will be easy to exploit as many americans love marijuana and are trying to figure out ways to consume it legally. 
• I saw this opportunity because I like to make money. I see this avenue as another way for insurance companies to make money off of average citizens.

5A - Identifying Local Opportunities

5A - Identifying Local Opportunities 


"Franchisees Ding McDonald's Wall" by Bloomberg of the Tampa Bay Time

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASPTB%21Tampa%2BBay%2BTimes%2B%2528FL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17128B96391E0648
• In this article, written on January 24 2019, the author describes the recent decision that McDonald's Corp. has made. This decision is a Franchise wide decision to mandate a wall be constructed between the cashier area and the kitchen area. This wall will allow for unsightly kitchen equipment to be hidden from customers and theoretically help to improve the overall customer experience.
• The problem: Many locally owned franchises cannot afford the costs associated with build this mandated wall. 
• The people: The approximate the 37,000 franchise owned McDonald's across the globe. 

"Floridians Expect Better" The Tampa Bay Times editorials

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASPTB%21Tampa%2BBay%2BTimes%2B%2528FL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17127B1213C91FE0
• This article, written January 24 2019, discusses the major impact that the government shutdown is having on Floridians. It also discusses the potential long-term risks Floridians face if the shutdown continues. 
• The problem: The federal government is currently shutdown and its impact goes far beyond Washington, D.C. Florida residents and federal employees across the state are all experiencing effects of this. 
• The People: Florida residents but more specifically commercial farmers, Florida's shellfish industry, facilities that require regular inspection from the FDA, School Districts, and Coast Guardsmen. 

"Shutdown Stalls Research" The Tampa Bay Times editorials

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASPTB%21Tampa%2BBay%2BTimes%2B%2528FL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17128B958398D660
• This article, written January 24 2019, dives into the effects that the government has had on scientific research. NASA and the National Science Foundation efforts have been stalled by the shutdown. These has allowed for other technical and economic powers to surpass us. Most recently with China landing the first probe on the far side of the moon, just weeks ago.
• The problem: The government shutdown has stalled research efforts of all federally funded projects. 
• The people: This has effected NASA, the National Science Foundation, USDA, and researchers at the University of Florida.

"Tourism Agency Needs Sunshine" The Tampa Bay Times editorials 

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASPTB%21Tampa%2BBay%2BTimes%2B%2528FL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17128B9617762E08
• This article, written January 24 2019, discussed the success that the public agency Visit St. Pete/Clearwater has had over the last couple years. It has succeeded by drawing a record setting number of tourists and visitors to come to the area during 2018. However, not everything with this public agency has been perfect as we have learned with the recent resignation of CEO David Downing. 
• The problem: Former CEO of Visit St. Pete/ Clearwater , David Downing, has been accused of using a county owned credit card to rack up nearly $300,000 in expenses since 2014.
• The People: Residents and tourists in Pinellas County who pay tourism taxes and help to fund this public agency that have had their money mismanaged and misused.

"Gas Prices Climb, Expected to Keep Rising" The Tampa Bay Times

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASPTB%21Tampa%2BBay%2BTimes%2B%2528FL%2529/year%3A2019%212019/mody%3A0123%21January%2B23&f=advanced&action=browse&format=text&docref=news/171225A996F3D6D8
• This article, written January 23 2019, brings light to the all too common issue of rising gas prices. With the rise in oil prices this has recently trickled down to us as consumers. Over the course of the past week prices have climbed and average of 7 cents. Gas prices and expected to continue trending upward with the peak of prices this year coming around memorial day.  
• The problem: Gas prices are on the rise again and this trend is expected to be here to stay.
• The people: Anyone who drives a vehicle that requires gasoline.

4A- Forming An Opportunity Belief

4A- Forming An Opportunity Belief

     I believe that there is an unmet need for a Chipotle in my hometown. More specifically this unmet need for a Chipotle Mexican Grill is in Trinity, Florida. Anyone who lives in Trinity has this need. While this exact need is not new it has become more prevalent in the recent months with an influx of new residents due to new construction. This unmet need has also become more prevalent with the addition of Chipotle's biggest competitor to out town, Moe's. People within the community are fighting for and pushing for the addition of a Chipotle because at the moment the closest one is approximately twenty-five minutes away. While there are many restaurants in Trinity area that are booming and could be considered strong competitors for business if Chipotle came in, a vast majority of the population here is upper-class and middle-class, which is exactly what Chipotle looks for in a target market. I would say that I am about 75% confident that the opportunity for a Chipotle Mexican Grill in Trinity, Florida exists.

#1: Mid-twenties male resident in Trinity

Q1: Have you ever considered the need for a Chipotle Mexican Grill here in Trinity?
A1: Yes, dating back to my days in high school I have longed for a Chipotle to be built here.
Q2: Do you feel like Trinity has always desired a Chipotle or is this more of a recent need?
A2: I would say that my desire came before most people's, but overall I do not believe that this unmet need is something that is new. I'd say its come about strongly in the last three or four years.
Q3:When did you first become aware of Chipotle?
A3: I first become away of Chipotle at the age of sixteen when I was on a trip down in the South Florida area.
Q4:How are you currently addressing your need for Chipotle?
A4: At the moment I drive to the closest one if I have a strong craving for a burrito.
Q5:Would you be satisfied if a Chipotle were built in Trinity here soon?
A5: 100% yes! I would probably eat there four or five times per week, no lie.

Reflection: I think he seemed very intrigued by such a possibility. He made it feel like most people his age would be very interested in one. It surprised me how interested he honestly was.

#2: Teenage female resident in Trinity

Q1:Have you ever considered the need for a Chipotle Mexican Grill here in Trinity?
A1:Some times I think about it but mostly I do not think about it because there are so may other options here.
Q2:Do you feel like Trinity has always desired a Chipotle or is this more of a recent need?
A2: No always but within the last couple years I have heard lots of people talking about it.
Q3:When did you first become aware of Chipotle?
A3: Probably three years ago I went for the first time with a couple friends.
Q4:How are you currently addressing your need for Chipotle?
A4: I eat it every once in a while if my friends want to go I will usually ride along with them.
Q5:Would you be satisfied if a Chipotle were built in Trinity here soon?
A5: Yeah I would be satisfied because it would add another healthy option for me eat.

Reflection: Her desire and love for Chipotle as a whole seemed somewhat minimal. She could have been an outlier as she stated that many of her friends really enjoyed Chipotle. Overall, it was good to see the balancing of opinions.

#3: Mid-forties resident in Trinity

Q1:Have you ever considered the need for a Chipotle Mexican Grill here in Trinity?
A1:Yes my friends and I talk about it a lot actually.
Q2:Do you feel like Trinity has always desired a Chipotle or is this more of a recent need?
A2: Many parents are looking for healthy and cheap options to feed their children with so I would say that over the last few years people in this area have developed a desire for one.
Q3:When did you first become aware of Chipotle?
A3: About six years ago when I was in Chicago on a business trip.
Q4:How are you currently addressing your need for Chipotle?
A4: Because I travel so much for work I often eat Chipotle at the airport or in another city if it is available.
Q5:Would you be satisfied if a Chipotle were built in Trinity here soon?
A5: Absolutely because it would make my life much easier and I wouldn't have too cook as often when I am home.

Reflection: For a person in their mid-forties I was surprised how much Chipotle has seemed to reach his demographic. Additionally, it was cool to hear how much he felt that fellow parents would be in favor of Chipotle going in here.

Summary: 
     I believe that the opportunity for building a Chipotle Mexican Grill is still there. The majority of feedback was positive and supportive of such an opportunity. I strongly believe that by conducting three different interviews with people of three different age demographics it was able to help me get a better overall understand for the communities desire. I think that the same opportunity is still there and the the percentage should not have changed too much. Yes, I do believe that entrepreneurs should adapt their opportunities based upon customer feedback, however, I think of entrepreneurs as visionaries. Visionaries are called visionaries because no one else could see their vision, so I do not believe that customer feedback should be the end all be all, even though it should play an important role.

3A- My Entrepreneur Story

3A- My Entrepreneur Story 

     I would say that my personal entrepreneur story is a very common one amongst teenage boys. My experience being an entrepreneur began with lawn care. Around my freshman year of high school I started to think of ways to get a little bit of spending money. The problem was that many jobs around required applicants to be sixteen years or age or older and I was only fifteen at the time. This meant I had to think of unordinary ways to make some cash. I started asking people on my street if I could cut their lawns. Due to the fact that there was a personal connection to me and I was probably charging way less than established companies I was able to gain five customers on my street. This was great because I didn't have to have my parents drive anywhere, instead I could just push my mower down the street to the different houses. This lawn care and entrepreneur experience lasted for about two whole years until I decided that I no longer wanted to do it anymore because I was so busy with other interests. This experience allowed me to solve my problem of needing spending money, but it also taught me a multitude of things that have helped me in different jobs since.

     In this class I hope to learn more about the problem solving mindset of entrepreneurs and develop my skills through the workshop and weekly assignments. I enrolled in this class because it is required to graduate, however I was excited to start this class because having the opportunity to learn more about entrepreneurship will be interesting to me in the short-term and extremely beneficial for me in the long-term. I cannot wait to get started!

2A- Bug List

Assignment 2A- Bug List

1. During the morning the amount of cars and busses trying to get kids onto campus at the local high school backs up over a half mile.

WHY it exist: Parents would rather take their kids to school as opposed to have them ride the bus. This causes an overabundance of vehicles and busses to try an enter at the same time in an area that was not designed to accommodate that amount of traffic flow.

2. Headphones occasionally die at the gym about halfway through workout.

WHY it exist: My headphones are a couple years old and the batter life on a full charge has decreased dramatically.
3. Car windshield seems to take forever to defrost in the morning.

WHY it exist: The cold temperatures outside require the heating system to take more time to heat op the air before it can blasts onto the windshield.
4. Day after day the same super sweaty people fail to clean the gym equipment after using it.

WHY it exist: Nobody has ever told them that what they are doing is wrong and inconsiderate, therefore they do not know any better.
5. At Walmart people with more than twenty items still use the express checkout line.

WHY it exist: People hate standing in line and they just look for the shortest line possible, plus Walmart employees do not tell them that this behavior is not okay.
6. Left turn lane at corner of 54 and Little is so quick to turn red in the mornings, yet seems to last forever in the afternoon.

WHY it exist: In the morning traffic light cycles are shorter to get people moving quicker because they are in a rush to get to work.
7. During lunch time the Chick-Fil-A line is so long that it extends out of the parking lot and backs up traffic inside the rest of the plaza.

WHY it exist: CFA's cannot service customers as fast and they are coming in.
8. Trash company is scheduled to come on Monday's and Thursdays, but the often miss Monday and have to come Tuesday.

WHY it exist: Monday's are the busiest day for trash companies because most people have accumulated trash throughout the weekend, which causes trucks to make more stops.
9. Puppy continues to bite my fingers instead of her toy.

WHY it exist: She still is unable to differentiate a toy from a finger because I have been unable to fully train her yet.
10. People show up right at the start time of their lesson and then have to warmup, but get mad when the actual instruction time lasts about 20 minutes.

WHY it exist: Parents fail to anticipate the warmup time into their schedule and do not arrive with their sons slightly ahead of time.
11. Dog owners fail to pickup poop during an evening walk.

WHY it exist: They forget to bring bags on their walk after dinner.
12. The same Starbucks drink taste amazing sometimes and awful other times.

WHY it exist: Even though their are specific instructions on how to make a particular drink at Starbucks the way each employee makes it can still slightly vary.
13. McDonald's ice cream machine always seems to be out of order.

WHY it exist: The required ice cream machine cleaning and maintenance takes multiple hours and must be completed multiple times per week and McDonald's does it during lunch and dinner hours instead of during the breakfast hours.
14. Neighbors lawn person starts cutting at 7:30am.

WHY it exist: They overbook their day and must start super early in order to get all their yards done.
15. Water from shower seeps outside of tub area and onto floor.

WHY it exist: There is a shower curtain instead of a shower door, which leaves a tiny gap for water to get through.
16. Gate to neighborhood is never closed during the day.

WHY it exist: For delivery trucks, home repair people, lawn care people, etc. to get into neighborhood easily the gates must be open.
17. Printer constantly seems to misprint pages at an angle.

WHY it exist: People in my house load the printer up with too much paper and this causes the printer to improperly suck in the paper.
18. Next-door-neighbor's dog pees in our yard.

WHY it exist: There are no fences allowed in my neighborhood and my neighbor does no keep his dog on a leash.
19. Can never seem to get a chicken tender sub from Publix around or after 9:00pm.

WHY it exist: They stop making chicken around 8:00 so once the last batch is gone the refuse to make more because the odds are that not all of it will sell and the leftovers will have to be thrown away..
20. TV connection is disrupted when raining.

WHY it exist: The rain interferes with the part from my dish to the satellite.  

Reflection: I found this assignment to be particular easy. I took our professors advice and decided to keep note over the course of the last couple days of things that I noticed to bugged me. It is amazing all the little things that I found to be an inconvenience when I actually had to think about it. It is probably a good thing that I normally fail to realize the bugs on this list because it would drive me insane being irritated by such things on a consistent basis. However, this assignment did open up my eyes to countless problems that still exist in our world today and how the opportunity for entrepreneurs to create products or services that solve such problems is still very much needed today.

Test Post

Just making sure this works