For this exercise, I continued my interviews in the segment that ranges from buyers between the ages of 18-25. This time, as the directions stated, I focused on how they determine what product they want to buy and what kinds of things they look for. When I asked two college students who were in their sophomore and junior years about this, their answers differed slightly. One of the students said that price does matter to him and although he wants a quality product, he is on a budget so the price can make a big difference. The other student said that he looks for the best product no matter what the price is. He said when it comes down to it when he's looking to shop for a product to fulfill a need he has, then the goal is to fulfill that need, not to save money. They both said that the medium at which they shop in doesn't necessarily matter, but they both said they prefer online shopping because it's easier than going in the stores. One of the students said that when he gets the product and it achieves the need or reason that he bought the product than it was a successful buy for him. The other student agrees but also assesses his idea of whether it was a good purchase on whether or not he got a good deal on the item. I also interviewed someone who has already graduated from college and has begun her career in the workforce. She says that when she is looking for a product like this one or any product, the first thing she looks at is price and the quality is second. She said she will sacrifice some money for quality but doesn't want to break the bank doing so. She said that if she has tried a lot of alternatives and still doesn't have a solution to her problem then she will look for the product that has the best quality and is almost guaranteed to work, which is normally the most expensive one. She said that she views the purchase as a good purchase if the product works and she is satisfied with what she got for the amount of money that she spent. Obviously, if she thinks the opposite, then it was a bad purchase. All of my interviewees said they pay with cash or their debit cards depending on how high the price is.
Throughout these interviews, I was pretty interested as to what everyone looked for and prioritized when they look to purchase a product. I think this segment displayed fairly normal alternative evaluation, I think that weighing options is always a good thing and that is what they appear to be doing. The purchase -decision and post-purchase evaluation is also something that I was not too surprised a lot. However, it did show me that this segment was willing to spend more on a product if it meant the need was fulfilled or the quality was better.
Friday, June 22, 2018
14A – Halfway Reflection
1. I have developed better time-management skills to keep up with all of the assignments in this course. I think that I have also developed more creativity and open-mindedness when looking at products or possible business opportunities
2. During one of the assignments for interviewing people, I wanted to give up and not to that assignment because it was hard to find specific people that fit the criteria I was looking for in my interviews. However, I decided not to give up and kept pushing through. I feel like I have developed a tenacious attitude over the past few months because I feel like I been more determined to finish my research on the opportunities for my product and determined to try and make it work. I think that trying to go through with this product and look at all of the aspects of it and who would/wouldn't buy it has helped contribute to this attitude.
3. a. Don't ever give up on seeing a product through that you think has a chance to work.
b. Look at everything as a step-by-step process, not all at once because then it becomes overwhelming.
c. Picture yourself as the CEO of the company that is making your product and do everything you can to see how you would make it work, this develops the tenacious mindset.
Google Images
2. During one of the assignments for interviewing people, I wanted to give up and not to that assignment because it was hard to find specific people that fit the criteria I was looking for in my interviews. However, I decided not to give up and kept pushing through. I feel like I have developed a tenacious attitude over the past few months because I feel like I been more determined to finish my research on the opportunities for my product and determined to try and make it work. I think that trying to go through with this product and look at all of the aspects of it and who would/wouldn't buy it has helped contribute to this attitude.
3. a. Don't ever give up on seeing a product through that you think has a chance to work.
b. Look at everything as a step-by-step process, not all at once because then it becomes overwhelming.
c. Picture yourself as the CEO of the company that is making your product and do everything you can to see how you would make it work, this develops the tenacious mindset.
Google Images
Friday, June 15, 2018
13A – Reading Reflection No. 1
Steve Jobs by Walter Isaacson
1. a. What surprised me the most was the sheer creativeness that Jobs used in being able to create the first Apple computer.
b. I most admire Jobs' large-scale thinking in taking a product that he and his friends created and making into more than just a computer, but an empire.
c. The thing that I least admire was probably the fact that at one point he resigned from Apple. I think that as a company that he created with his own two hands, he should not have been so quick to leave it and should've fought harder to stay with the company.
d. All entrepreneurs experience adversity of failure at one time or another and Jobs was no exception. He faced huge adversity when the board wanted to remove Jobs from the Macintosh Group. I think that this was huge adversity as this was being pushed out by his very own company.
2. The things that Jobs did well was nothing short of amazing. I think that his creativeness was one of the biggest things that I noticed. I also think that he was a really great businessman because many people can develop products but not run a business effectively, Jobs was able to do both and that was a huge competency in my mind.
3. It was confusing as to why his company tried to make him leave in the 1980's after his company became a huge success. I have heard this happening before with other executives but it was still confusing to me as to why they would think that was a good idea.
4. I would ask, 1. What gave you the idea to start creating something that had never been thought of before? 2. What enabled you to see this unmet need by the public that they seemingly didn't even know that they had.
5. I think that his opinion of hard work was that it would be lead to money and success in the end. I think that is a good opinion to have and would like to share that opinion.
1. a. What surprised me the most was the sheer creativeness that Jobs used in being able to create the first Apple computer.
b. I most admire Jobs' large-scale thinking in taking a product that he and his friends created and making into more than just a computer, but an empire.
c. The thing that I least admire was probably the fact that at one point he resigned from Apple. I think that as a company that he created with his own two hands, he should not have been so quick to leave it and should've fought harder to stay with the company.
d. All entrepreneurs experience adversity of failure at one time or another and Jobs was no exception. He faced huge adversity when the board wanted to remove Jobs from the Macintosh Group. I think that this was huge adversity as this was being pushed out by his very own company.
2. The things that Jobs did well was nothing short of amazing. I think that his creativeness was one of the biggest things that I noticed. I also think that he was a really great businessman because many people can develop products but not run a business effectively, Jobs was able to do both and that was a huge competency in my mind.
3. It was confusing as to why his company tried to make him leave in the 1980's after his company became a huge success. I have heard this happening before with other executives but it was still confusing to me as to why they would think that was a good idea.
4. I would ask, 1. What gave you the idea to start creating something that had never been thought of before? 2. What enabled you to see this unmet need by the public that they seemingly didn't even know that they had.
5. I think that his opinion of hard work was that it would be lead to money and success in the end. I think that is a good opinion to have and would like to share that opinion.
12A- Figuring Out Buyer Behavior No. 1
The segment that I am picking is those in the age group of 17-25 who are struggling to adjust to new schedules or new points in their lives.
What I found in my interviews: I interviewed those who were in this segment of their lives. Most of the people within this age group are either developing to a new school, new job, or both. These changes normally come with a change in schedule, and for that, normally a new time to wake up in the morning. The first person that I interviewed just started grad school at UF. She said that over the course of her college career she was able to pick her classes to be later in the day so that way she would avoid the struggle of having to wake up in the morning. However, now that she is in grad school she is finding that she doesn't have as much flexibility with her scheduling and has to start waking up early for some classes. She said that she has always struggled with waking up on time because when she sets her alarm it goes off, but then she just keeps hitting snooze. I asked her about an idea like my product that has vibrations and wouldn't stop trying to wake up you up until you got up out of bed. She said she would probably hate that in the morning and not being able to stop the alarm system without getting up, but she said it would be very effective on her. She said she would probably invest in it to see if it would help her wake up better, even if there is no snooze option, since, that is the cause of all of her problems in the first place. I also interviewed someone who just got a job at Starbucks. He said that the shifts can be incredibly early in the morning and he has never had to wake up that early before. He said that he has already slept through his alarm clock a couple of times just in the short time he has had the job. He thinks that a product like mine would be an ideal situation for someone like him who probably would never get out of bed unless the alarm mechanism absolutely made him. He believes that the vibrations paired with the sensor would be really useful in helping him wake up in the morning. The third person I interviewed just started undergrad in college and said that she is used to waking up early for high school, but that doesn' mean she doesn't struggle to do so. She thinks that without her parents with her at college to help make sure she gets up for school on time, that she will not have the proper motivation to wake up for classes in the morning. She said the vibration mechanism may be the perfect kick-start that she would need because it would basically shake her to wake up and wouldn't stop until she did similar to what her mom did. She also said that this product would also be useful because the vibrations and motion wouldn't necessarily disturb her roommate since it is only going to be shaking her bed so it would be useful in a dorm. When I talked to all three of these people about what they did when this problem was presented to them, they all had very similar answers.
All 3 of them told me that they have told other people to call them and wake them up before. Which of course comes with a fault, because if that person forgets to wake you up or doesn't wake up themselves, then that option is gone. One of them told me that she has used multiple alarms before and sometimes that works but it is a lot of trouble to have to set more than one alarm before bed. The guy who just got the job says that he has tried to go to sleep earlier but it's just too early and to large of a schedule adjustment to make and he has been unable to solve the problem. They said that they have all googled for better alarm clocks, the grad student even googled tactics to wake up in the morning, but nothing like this product had ever come up and if it had they all would've at very least considered it.
I think that this segment is clearly in need of this product, as I had predicted, and is probably the leading segment to need this product. I think that this segment's awareness of the problem is very real and known to most of them and if the product was used by people in this segment, I think that it could become very popular very quickly. This segment would probably be my target group to focus because I believe their need awareness is high and it would be easy to spread the information of this product quickly and effectively throughout this segment.
What I found in my interviews: I interviewed those who were in this segment of their lives. Most of the people within this age group are either developing to a new school, new job, or both. These changes normally come with a change in schedule, and for that, normally a new time to wake up in the morning. The first person that I interviewed just started grad school at UF. She said that over the course of her college career she was able to pick her classes to be later in the day so that way she would avoid the struggle of having to wake up in the morning. However, now that she is in grad school she is finding that she doesn't have as much flexibility with her scheduling and has to start waking up early for some classes. She said that she has always struggled with waking up on time because when she sets her alarm it goes off, but then she just keeps hitting snooze. I asked her about an idea like my product that has vibrations and wouldn't stop trying to wake up you up until you got up out of bed. She said she would probably hate that in the morning and not being able to stop the alarm system without getting up, but she said it would be very effective on her. She said she would probably invest in it to see if it would help her wake up better, even if there is no snooze option, since, that is the cause of all of her problems in the first place. I also interviewed someone who just got a job at Starbucks. He said that the shifts can be incredibly early in the morning and he has never had to wake up that early before. He said that he has already slept through his alarm clock a couple of times just in the short time he has had the job. He thinks that a product like mine would be an ideal situation for someone like him who probably would never get out of bed unless the alarm mechanism absolutely made him. He believes that the vibrations paired with the sensor would be really useful in helping him wake up in the morning. The third person I interviewed just started undergrad in college and said that she is used to waking up early for high school, but that doesn' mean she doesn't struggle to do so. She thinks that without her parents with her at college to help make sure she gets up for school on time, that she will not have the proper motivation to wake up for classes in the morning. She said the vibration mechanism may be the perfect kick-start that she would need because it would basically shake her to wake up and wouldn't stop until she did similar to what her mom did. She also said that this product would also be useful because the vibrations and motion wouldn't necessarily disturb her roommate since it is only going to be shaking her bed so it would be useful in a dorm. When I talked to all three of these people about what they did when this problem was presented to them, they all had very similar answers.
All 3 of them told me that they have told other people to call them and wake them up before. Which of course comes with a fault, because if that person forgets to wake you up or doesn't wake up themselves, then that option is gone. One of them told me that she has used multiple alarms before and sometimes that works but it is a lot of trouble to have to set more than one alarm before bed. The guy who just got the job says that he has tried to go to sleep earlier but it's just too early and to large of a schedule adjustment to make and he has been unable to solve the problem. They said that they have all googled for better alarm clocks, the grad student even googled tactics to wake up in the morning, but nothing like this product had ever come up and if it had they all would've at very least considered it.
I think that this segment is clearly in need of this product, as I had predicted, and is probably the leading segment to need this product. I think that this segment's awareness of the problem is very real and known to most of them and if the product was used by people in this segment, I think that it could become very popular very quickly. This segment would probably be my target group to focus because I believe their need awareness is high and it would be easy to spread the information of this product quickly and effectively throughout this segment.
11A- Idea Napkin 1
1. I am a third-year journalism major and business minor at the University of Florida, one of my professional talents is being able to communicate effectively, along with building strong relationships and connections. My aspirations for this business idea that I have come up with are very high. I truly believe that this is a product that many people will have in the future, this could turn into the normal thing people use to wake up. As far as my life, I believe that I would use my product in my life too, and I think that this business idea could be successful and could lead to other business ideas as well.
2. The product I am offering to customers is a new way of waking up in the morning. This new way will help people wake up more effectively. Ordinary alarm clocks will soon be in the past and my product will be at the mainstay to wake people up. This product sits on the mattress and uses vibrations along with the alarm noise to help wake people up, and will not stop until you get up.
3. The people who will find this product most useful will be those in the younger demographic who do not have as much experience waking up early. This can be utilized for kids of all ages going to school or college. This could also be used for younger adults who are going into or are already in the workforce. This will help them wake up on time for work. This can also be used by folks who have trouble waking up erratically early to make an appointment or anything like that. These customers will all have trouble waking up due to a deep sleep or just somewhat laziness, this will help give them the boost they need.
4. The customers will care because they need this product to effectively wake up on time. Many possible customers who I have interviewed have said they this is something they need and there is nothing like it on the market. They need an extra jolt to wake them up in the morning or else they can not be productive with their lives.
5. The fact that this wake-up mechanism utilizes the motion aspect rather than just the sound aspect is something that sets this product apart from the others. This product not only uses motion which is unique, but it also uses a sensor to make sure the user gets out of bed, unlike most products which have a snooze button, which normally leads to being late to whatever the function is.
I believe that all of these elements to fit together and form a great problem/solution situation with this product. There is a clear need, in the world of waking up early, for a better more effective product to the typical alarm clock that has gone unchanged for decades. This product is not only newer and innovative but will also be more comfortable and easier to use. This business plan will be successful because there is a clear problem and opportunity, and I believe this product meets that oppurtunity's needs.
2. The product I am offering to customers is a new way of waking up in the morning. This new way will help people wake up more effectively. Ordinary alarm clocks will soon be in the past and my product will be at the mainstay to wake people up. This product sits on the mattress and uses vibrations along with the alarm noise to help wake people up, and will not stop until you get up.
3. The people who will find this product most useful will be those in the younger demographic who do not have as much experience waking up early. This can be utilized for kids of all ages going to school or college. This could also be used for younger adults who are going into or are already in the workforce. This will help them wake up on time for work. This can also be used by folks who have trouble waking up erratically early to make an appointment or anything like that. These customers will all have trouble waking up due to a deep sleep or just somewhat laziness, this will help give them the boost they need.
4. The customers will care because they need this product to effectively wake up on time. Many possible customers who I have interviewed have said they this is something they need and there is nothing like it on the market. They need an extra jolt to wake them up in the morning or else they can not be productive with their lives.
5. The fact that this wake-up mechanism utilizes the motion aspect rather than just the sound aspect is something that sets this product apart from the others. This product not only uses motion which is unique, but it also uses a sensor to make sure the user gets out of bed, unlike most products which have a snooze button, which normally leads to being late to whatever the function is.
I believe that all of these elements to fit together and form a great problem/solution situation with this product. There is a clear need, in the world of waking up early, for a better more effective product to the typical alarm clock that has gone unchanged for decades. This product is not only newer and innovative but will also be more comfortable and easier to use. This business plan will be successful because there is a clear problem and opportunity, and I believe this product meets that oppurtunity's needs.
Friday, June 8, 2018
9A – Testing the Hypothesis, Part 2
1. The interviews: The first person I interviewed is a stay-at-home mom who told me that she wakes up around 7 every morning to walk the dog and start the day. I asked her if she uses an alarm to wake up and she says she does but doesn't always need to rely on it. She said she had slept through her alarm before, rarely albeit, but it had happened. She says that she has trained her internal clock to wake up at around this time just about every morning now because she has to, she didn't have a choice. She said that the product would probably be a good thing for her kids, but she herself would not need it because she wakes up fine already. I interviewed two coworkers who have to report to work every day by 7:30. They both said at first this was hard for them to adjust themselves to doing. One of them said he hadn't needed to be consistently up at that time since high school, and the other said he was just never a morning person. I asked them both how they adjusted to the early wake-up call that they have to deal with. One of them said that it took a lot of time to get used to the change, he said that he had to set multiple alarm clocks to wake himself up and it took him a couple of months to get adjusted and did sleep through alarms in the past. Both of them now say that they are comfortable with getting up at that time and struggle to sleep-in when they don't have to be up at 7:30. They said that the product is good and they may have been able to use it earlier in life but neither one of them would purchase it now. The last two people I interviewed was a retired couple. Obviously, these people were those who may not have this need and I wanted to talk to them and see what they thought about it. The wife told me that she said normally doesn't sleep very late, but that there are also times when she does need to wake up earlier than she normally does, she said the product wouldn't be something she would pursue because she feels that if she has to get up earlier, than the alarm clock is enough. The husband, however, said that the product would indeed be useful to him. He said that sometimes he sets the alarm incorrectly and does still have to wake up early for miscellaneous things. This product is something that seems simple to him and he said he would always wake up with the motion. Now the question becomes, how would we be able to have it for one person and not the other if they are in the same bed. These were my findings with the people who may not have this unmet need and I wasn't all that surprised by the information. I thought it was interesting that one person wanted it and one didn't who sleep in the same bed. I also am aware that many people have built-in internal clocks to wake themselves up early and this product would not really be for them. This would reach the people who are probably younger or who are deep sleepers and have trouble waking up to just sound.
Inside the boundary | Outside the boundary |
| Who is In: People who have trouble with waking up early, people who don't have experience waking up early, people who are deep sleepers and sound alone is not enough to wake them up, people who want to be woken up more effectively | Who is Not: People with an internal clock, People who have experience with waking up early, People who use their alarm clocks just fine, people who don't have to wake up early. |
| What the Need Is: To be assisted in waking up, to be assisted in coming out of a deep sleep, to be assisted in having a reliable alarm clock. | What the Need Is Not: To be assisted to wake up, To use motion to be woken up, To need to wake up early at all. |
| Why the Need Exists: People sleep through their alarms, their alarms are not effective, their alarms are not strong enough, people have to make appointments on time and can't if they are sleeping. | Alternative Explanations: Experience of waking up early, More mature internal clocks, the need of waking up early isn't present. |
8A – Solving The Problem
1. The opportunity that I have identified and formed a hypothesis through the previous assignment is the fact that people regularly sleep through their alarm clocks or the ineffectiveness of modern alarm clocks.
2. The product that I have come up with is something that will be much more effective and useful than the current alarm clocks we use today. This product will combine motion into the wake-up process along with being unable to be turned off until the user is up and out of bed. This will be the MattressRise. This product will be able to effectively enable you to rise up in the morning so you are not late for anything. This product will act as a mattress pad, it will be placed on top of the mattress and will be strapped to it. Then, at night, the user will set the time and vibration level that they want to be woken up to in the morning. Once the morning hits, the product will play an alarm sound along with the vibration of choice to wake the user up, and with a sensor built in, the alarm will not stop until the user is out of bed not laying on the mattress.
2. The product that I have come up with is something that will be much more effective and useful than the current alarm clocks we use today. This product will combine motion into the wake-up process along with being unable to be turned off until the user is up and out of bed. This will be the MattressRise. This product will be able to effectively enable you to rise up in the morning so you are not late for anything. This product will act as a mattress pad, it will be placed on top of the mattress and will be strapped to it. Then, at night, the user will set the time and vibration level that they want to be woken up to in the morning. Once the morning hits, the product will play an alarm sound along with the vibration of choice to wake the user up, and with a sensor built in, the alarm will not stop until the user is out of bed not laying on the mattress.
Friday, June 1, 2018
7A- Testing the Hypothesis
1. Alarm Clock Opportunity
2. Many people struggle every day with waking up on time for school, work, or appointments because their alarm clock is not powerful enough and they sleep through it.
3. Hypothesis: I believe that by making a powerful alarm clock such as an alarm clock mattress, where it creates motion to awaken the sleeper, would provide a solution to this problem. To be clear, the who are those who are impacted by waking up early for school, work, or appointments. The what is the fact that people are typically challenged when they have to wake up early for multiple reasons including their alarm clock is not powerful enough to wake them up. The why for this is because the alarm clock is simply a sound and many people can sleep through sounds, even loud ones. People do not necessarily get woken up by their alarm clocks and they need a solution.
4. The interviews I conducted were wide-ranging. I interviewed 2 people who are in school, 2 people who go to work, and 1 person who had an early-morning appointment. These were my results: When I talked to the people who were in school (college and high school students) they said that they never wake up perfectly and they normally have multiple alarms set on their phones or other devices to ensure that they wake up on time. They said that they have slept through their alarm on several occasions and also know of people who had done the same thing. I then proposed my solution to them. The college student thought it was a great idea especially if the mattress was also comfortable. He said he believed that it would "correct the problem" he has of not waking up on time. The high school student said that she thinks it would be a good idea but also suggested having varying vibrations or movements because if it is the same movements than it acts as more of a soothing thing rather than something trying to wake you up. I then talked to the two people who are in the workforce. One of them told me that he regularly had problems waking up early for his meetings or shifts he had to make. However, because he had this problem early in his life he has worked to correct it and has been able to nearly eliminate this problem through a different sleep schedule and more powerful alarms. The second person I talked to said she still has problems waking up early for work. She said that she is an incredibly deep sleeper and loud noises tend to not wake her up, especially if she is really tired when she goes to bed. She said that she frequently has to have her husband come and wake her up so that she can get to work on time. Both of these working people said they would welcome a new alternative to the traditional alarm clock. When I told them about my idea involving the mattress that moves/vibrates, the woman thought that it would really help her and she thinks that it could solve her problem. The guy said he thinks it’s a good idea but probably wouldn’t buy it because he thinks the alarm clock he now uses normally does the job. When I talked to the women who was making an early hair appointment, she said that she struggled to get up for this appointment but that was just because she went to sleep late the night before. She said that her alarms do normally wake her up, but she worries that they sometimes do not go off. She said she gets nervous when she has to wake up early because her alarm clocks don’t always go off. When I told her about my solution she said it sounds like a great idea and she would consider it, but she also would like to have a more reliable traditional alarm clock as well.
5. These interviews that I conducted were very helpful and insightful to the early stages of my opportunity. I believe the market and target consumers are out there for a product like this. Although the older crowd may have waking up early solved, I think that for many people waking up early is still a struggle. For some, simply not having a reliable alarm clock is the problem, but for many it is just not strong enough or they are too much of deep sleepers. Overall I was satisfied with the information that I received from my interviews about this opportunity.
6A – Identifying Opportunities in Economic & Regulatory Trends
1. Economic Opportunity- Unemployment
2a. Found on Tampa Bay Times website
b. I believe there is an opportunity because the article states that unemployment is currently at an 18-year low. This presents an opportunity to employ people in an effort to kick-start a business and the economy. This may be a very good time to start a business because of all the people looking to be employed.
c. The customers that would like this opportunity would be those who would be interested in the business that has been created along with those who feel very passionately about unemployment. If a company was employed completely by people who were unemployed, I think it would be very attractive to the average American consumer to be a customer of this business.
d. This particular idea may be hard to exploit because talking about hiring a staff of unemployed people means there will be a lot of inexperience with the business.
3. I was able to identify this as an opportunity because this is something that I feel is very important and I was already thinking of ways that the United States could help solve its unemployment problem.
2. Economic Opportunity- Retail Store Trend
2a. Found on CNN
b. This is a relatively small opportunity, but an opportunity nonetheless. This one involves retail stores closing. It's no secret that online shopping is the new norm and retail stores are closing or slowing down at a record pace. The opportunity then comes in the idea of combing the store and the online version into something that hasn't been created yet. A merging of worlds in a way.
c. The customers would be a large group because so many people enjoy shopping on the web or in the store. The consumers would be those who enjoy shopping for any product, similar to the Amazon customer.
d. This opportunity would be hard to exploit because nothing like this has been done before along with combing it with an industry that is facing a negative shift and losing business.
3. I was able to identify this as an opportunity because I used to really like going to retail stores as a kid and always wanted to have my own store. With stores closing it makes that nearly impossible so I had thought of how to save the retail business and came up with the combination plan as the best way.
3. Regulatory Opportunity- Environmental.
2a. Found on CNN
b. This is a regulatory opportunity that has continued to grow with the republican congress. This regulatory change or rather de-regulatory change is coming to the environment. As the government refuses to regulate businesses and companies from hurting the environment, many citizens are outraged and want this. This raises an opportunity of environmentally-friendly alternatives to things that hurt the environment and companies don't want to change.
c. The customers would be the large population of people who care about hurting and preserving the environment. They would be the ones driving this business to succeed as well.
d. The opportunity would be fairly simple to exploit because most items and products can be made in an alternative environmentally-friendly way.
3. I was able to identify this as an opportunity because I have always been passionate about the environment and don't like how it's currently being treated by our government. I've always tried to come up with ways to help the environment.
4. Regulatory Opportunity- Businesses
2a. Found on Fox News
b. This is a regulatory opportunity because it has to do with the way businesses are regulated by the government. This story is about kids being unable to profit from their lemonade stand because they were not in possession of a permit. This is an opportunity to teach young Americans about the way of the world in regards to starting a business. This could be a class-type opportunity on how to successfully start a business in your area based on your cities' specific laws and ordinances.
c. The customers of this business opportunity would be those who are trying to start a business in their area but worry about getting sued or not being in correct legal standing when they begin things.
d. This opportunity would be extremely useful to many who are trying to start a business but do not know the legal ramifications or procedures to follow in their area, so I feel it would be easy to exploit.
3. I was able to identify this as an oppurtunity because as a kid I did the exact same thing with my friend. I think it's really an important thing to understand as well in regards to the rule of your city.
2a. Found on Tampa Bay Times website
b. I believe there is an opportunity because the article states that unemployment is currently at an 18-year low. This presents an opportunity to employ people in an effort to kick-start a business and the economy. This may be a very good time to start a business because of all the people looking to be employed.
c. The customers that would like this opportunity would be those who would be interested in the business that has been created along with those who feel very passionately about unemployment. If a company was employed completely by people who were unemployed, I think it would be very attractive to the average American consumer to be a customer of this business.
d. This particular idea may be hard to exploit because talking about hiring a staff of unemployed people means there will be a lot of inexperience with the business.
3. I was able to identify this as an opportunity because this is something that I feel is very important and I was already thinking of ways that the United States could help solve its unemployment problem.
2. Economic Opportunity- Retail Store Trend
2a. Found on CNN
b. This is a relatively small opportunity, but an opportunity nonetheless. This one involves retail stores closing. It's no secret that online shopping is the new norm and retail stores are closing or slowing down at a record pace. The opportunity then comes in the idea of combing the store and the online version into something that hasn't been created yet. A merging of worlds in a way.
c. The customers would be a large group because so many people enjoy shopping on the web or in the store. The consumers would be those who enjoy shopping for any product, similar to the Amazon customer.
d. This opportunity would be hard to exploit because nothing like this has been done before along with combing it with an industry that is facing a negative shift and losing business.
3. I was able to identify this as an opportunity because I used to really like going to retail stores as a kid and always wanted to have my own store. With stores closing it makes that nearly impossible so I had thought of how to save the retail business and came up with the combination plan as the best way.
3. Regulatory Opportunity- Environmental.
2a. Found on CNN
b. This is a regulatory opportunity that has continued to grow with the republican congress. This regulatory change or rather de-regulatory change is coming to the environment. As the government refuses to regulate businesses and companies from hurting the environment, many citizens are outraged and want this. This raises an opportunity of environmentally-friendly alternatives to things that hurt the environment and companies don't want to change.
c. The customers would be the large population of people who care about hurting and preserving the environment. They would be the ones driving this business to succeed as well.
d. The opportunity would be fairly simple to exploit because most items and products can be made in an alternative environmentally-friendly way.
3. I was able to identify this as an opportunity because I have always been passionate about the environment and don't like how it's currently being treated by our government. I've always tried to come up with ways to help the environment.
4. Regulatory Opportunity- Businesses
2a. Found on Fox News
b. This is a regulatory opportunity because it has to do with the way businesses are regulated by the government. This story is about kids being unable to profit from their lemonade stand because they were not in possession of a permit. This is an opportunity to teach young Americans about the way of the world in regards to starting a business. This could be a class-type opportunity on how to successfully start a business in your area based on your cities' specific laws and ordinances.
c. The customers of this business opportunity would be those who are trying to start a business in their area but worry about getting sued or not being in correct legal standing when they begin things.
d. This opportunity would be extremely useful to many who are trying to start a business but do not know the legal ramifications or procedures to follow in their area, so I feel it would be easy to exploit.
3. I was able to identify this as an oppurtunity because as a kid I did the exact same thing with my friend. I think it's really an important thing to understand as well in regards to the rule of your city.
5A – Identifying Local Opportunities
1.
Title: From Truckers to CEOs. here's what Tampa Bay Earns
Link: http://www.tampabay.com/data/2018/06/01/what-we-earn/
This article talked about the economic status of the Tampa Bay area. It talks about individual people rather than just raw numbers, showing what they do and how much they make doing it. It gives an outlook on what businesses people make the most money in around the area and what fields people are struggling in as well. The problem that I found was presented in part of the story where an artist from St. Petersburgh was talking about all of the opportunity for artwork growth there and how he was not interested in it for so many years but the city brought it back to him. I think that there may be a problem that could be targeted at younger adults, which make up the majority of the St.Pete population, in regards to expressiveness and a creative environment. I think young residents of this city want to express themselves in ways the city does not and maybe there is a solution for them that I come up with.
2.
Title: Tampa Bay area ranked 10th most vulnerable U.S. metro to cybersecurity threats
Link: http://www.tampabay.com/news/business/Tampa-Bay-area-ranked-10th-most-vulnerable-U-S-metro-to-cybersecurity-threats_168770539
This article talked about the growing concern of cybersecurity threats within the United States, but specifically from my home are- Tampa Bay. The article revealed that Tampa is the 10th most vulnerable city in the U.S when it comes to cyber attacks. The article talks about how some residents go on high-risk sites. It says Tampa is also at risk more because of their high amount of defense and financial services firms. This is an obvious problem as people need to be able to trust the internet when they go online to look at normal, or important personal information. This is a problem that needs to be solved and poses a large opportunity because it targets everyone in the Tampa Bay area. This problem of being at risk of a cyber attack is something that is very troubling to everyone in this area.
3.
Title: Nearly 460,000 Tampa Bay homes at risk for storm surge damage
Link: http://www.tampabay.com/news/business/realestate/Nearly-460-000-Tampa-Bay-homes-at-risk-for-storm-surge-damage_168771457
This article talks about how so many Tampa Bay homes are in dangerous areas and are in danger of being flooded or washed away during a storm surge. Because the area is already near or below sea level, along with Pinellas county being surrounded by water, there is a huge threat to homes in this area. Especially during hurricane season. This is a big problem because people need to be able to live in peace and not have to worry about their homes being swept away from water. The people who this problem impact is everyone who's home is at risk for the storm surge.
4.
Title: Republic Services admits poor garbage service in Hernando County, pays fine
Link: http://www.tampabay.com/news/localgovernment/Republic-Services-admits-poor-garbage-service-in-Hernando-County-pays-fine_166948781
This article talks about the lackluster garbage service in this county, but also in other areas of Tampa Bay that don't have to pay a fine. The garbage problem in an ongoing one as it involved bad service, slow service, or just not picking up the proper amount or any trash at all. This is a problem that is obviously in dire need of being corrected or changed altogether. There is an opportunity there because since this problem impacts everyone in this area, the residents may be in favor of having a new method to their trash and waste problems.
5.
Title: Big Recycling Trucks Big Problem for St. Petersburgh
Link:http://www.tampabay.com/opinion/editorials/editorial-big-recycling-trucks-big-problem-for-st-petersburg/2233484
This article talks about how the recycling trucks in St. Petersburgh are not good for the roadways and neighborhoods. The majority of the roads in St. Pete are small and narrow so trash pick up may be done by neighborhood dumpsters in smaller areas and the recycling trucks have to go to individual houses. This is a problem because revyvling is very important to the country and planet and it needs to be encouraged and maintained in every way possible. This is an oppurtunity targeting the problem that all the St. Pete residents have in easily and correctly recycling their recyclable materials.
Title: From Truckers to CEOs. here's what Tampa Bay Earns
Link: http://www.tampabay.com/data/2018/06/01/what-we-earn/
This article talked about the economic status of the Tampa Bay area. It talks about individual people rather than just raw numbers, showing what they do and how much they make doing it. It gives an outlook on what businesses people make the most money in around the area and what fields people are struggling in as well. The problem that I found was presented in part of the story where an artist from St. Petersburgh was talking about all of the opportunity for artwork growth there and how he was not interested in it for so many years but the city brought it back to him. I think that there may be a problem that could be targeted at younger adults, which make up the majority of the St.Pete population, in regards to expressiveness and a creative environment. I think young residents of this city want to express themselves in ways the city does not and maybe there is a solution for them that I come up with.
2.
Title: Tampa Bay area ranked 10th most vulnerable U.S. metro to cybersecurity threats
Link: http://www.tampabay.com/news/business/Tampa-Bay-area-ranked-10th-most-vulnerable-U-S-metro-to-cybersecurity-threats_168770539
This article talked about the growing concern of cybersecurity threats within the United States, but specifically from my home are- Tampa Bay. The article revealed that Tampa is the 10th most vulnerable city in the U.S when it comes to cyber attacks. The article talks about how some residents go on high-risk sites. It says Tampa is also at risk more because of their high amount of defense and financial services firms. This is an obvious problem as people need to be able to trust the internet when they go online to look at normal, or important personal information. This is a problem that needs to be solved and poses a large opportunity because it targets everyone in the Tampa Bay area. This problem of being at risk of a cyber attack is something that is very troubling to everyone in this area.
3.
Title: Nearly 460,000 Tampa Bay homes at risk for storm surge damage
Link: http://www.tampabay.com/news/business/realestate/Nearly-460-000-Tampa-Bay-homes-at-risk-for-storm-surge-damage_168771457
This article talks about how so many Tampa Bay homes are in dangerous areas and are in danger of being flooded or washed away during a storm surge. Because the area is already near or below sea level, along with Pinellas county being surrounded by water, there is a huge threat to homes in this area. Especially during hurricane season. This is a big problem because people need to be able to live in peace and not have to worry about their homes being swept away from water. The people who this problem impact is everyone who's home is at risk for the storm surge.
4.
Title: Republic Services admits poor garbage service in Hernando County, pays fine
Link: http://www.tampabay.com/news/localgovernment/Republic-Services-admits-poor-garbage-service-in-Hernando-County-pays-fine_166948781
This article talks about the lackluster garbage service in this county, but also in other areas of Tampa Bay that don't have to pay a fine. The garbage problem in an ongoing one as it involved bad service, slow service, or just not picking up the proper amount or any trash at all. This is a problem that is obviously in dire need of being corrected or changed altogether. There is an opportunity there because since this problem impacts everyone in this area, the residents may be in favor of having a new method to their trash and waste problems.
5.
Title: Big Recycling Trucks Big Problem for St. Petersburgh
Link:http://www.tampabay.com/opinion/editorials/editorial-big-recycling-trucks-big-problem-for-st-petersburg/2233484
This article talks about how the recycling trucks in St. Petersburgh are not good for the roadways and neighborhoods. The majority of the roads in St. Pete are small and narrow so trash pick up may be done by neighborhood dumpsters in smaller areas and the recycling trucks have to go to individual houses. This is a problem because revyvling is very important to the country and planet and it needs to be encouraged and maintained in every way possible. This is an oppurtunity targeting the problem that all the St. Pete residents have in easily and correctly recycling their recyclable materials.
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