Friday, January 25, 2019

6A- Identifying Opportunities in Economic and Regulatory Trends

Health Care Trend:
https://www.investopedia.com/articles/investing/042915/5-industries-driving-us-economy.asp

While the rest of the economy is expected to grow at 3%, jobs in health care are expected to grow at 18%. This increase is due to the fact that our population is becoming older and health care insurance coverage is increasing. I am convinced this trend will continue because Investopedia is a reputable site and this field has been growing for years. I think current health care providers, such as hospitals, and patients will benefit from this. People studying to become doctors will as well because they will have jobs to apply for once they graduate. There is a high barrier to entry for this field so it will not be easy to exploit. Becoming a doctor requires a lot of education and hospitals are expensive to establish. I see this as an opportunity because I recently have needed to visit the doctor many times.

Construction Trend:
https://www.investopedia.com/articles/investing/042915/5-industries-driving-us-economy.asp

Construction is growing faster in the economy than other industries; especially in Florida. The economy in Florida is growing faster than most, which brings new families to the state. This influx of people results in a demand for more housing and more construction. Investopedia believes this trend is due to both economic and population growth. Investopedia has a good reputation and is why I trust the source. New families moving to Florida would be the typical customer. Getting into construction has high barriers to enter but customers can easily benefit. I see this opportunity because my dad works in construction as does a lot of work in new developments

Tobacco Regulation Trend:

https://www.wuft.org/news/2019/01/23/alachua-county-approves-ordinance-making-it-illegal-to-sell-tobacco-to-anyone-under-21/

Alachua County just recently banned the sale of tobacco products to people who are under 21 years old. This is due to the increased usage by young people and the negative health affects that come with this usage. This information came from a local radio's website. I think that this regulation will lead to an opportunity for chewing gum. Instead of smoking, people will need to distract themselves with something such as gum. The typical customer would be someone under 21 who does not have access to tobacco. I believe that this industry is very difficult to get into because the FDA has to approve of your chewing gum before it can even go on shelves. I see this as an opportunity because I have many friends under 21 who currently use tobacco.

Car Emissions Regulation Trend:

https://www.c2es.org/content/regulating-transportation-sector-carbon-emissions/

Over time, cars have become more and more regulated in order to protect the environment. Their emissions, their weight, their efficiency, etc have all been set to standards established by the US government. This information is found in many places, but I used the C2ES site to learn more. This regulation provides an opportunity for companies like Toyota to create vehicles that are already meeting the standards. Their Prius is very environmentally friendly and is appealing to people who want to help protect the environment. Toyota's early dedication to find innovative solutions will put them ahead with certain consumers. This opportunity would be difficult to take on because there are many barriers of entry in the car industry, such as capital start up costs. I recognized this opportunity because my parents own a Prius and are environmentally friendly.

5A- Identifying Local Opportunities

Title: Gunman kills 5 at Sebring bank

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFTUB%21Florida%2BTimes-Union%252C%2BThe%2B%2528Jacksonville%252C%2BFL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17127DFA8FE40DE0

This article describes a shooting at Sebring bank that killed five people. The gunman was a student currently enrolled in an online university and his motive is still unknown. The incident was not stopped until the gunman surrendered to the SWAT team. The community is currently mourning.

The problem: When people rob banks, they often bring weapons that can pose a threat to others. Banks can be a dangerous place to be because of the large amounts of money they hold and people's desire to steal from them. Anyone at the bank during a robbery is at risk. Some banks need better security to prevent people from causing harm to others.

The people: The people affected include the bank which had to close work and received poor publicity, the people killed and those who knew them, and the community who may now fear future incidents.
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Title: Cleaning up after the hall came tumbling down

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFTUB%21Florida%2BTimes-Union%252C%2BThe%2B%2528Jacksonville%252C%2BFL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17127DFA9AFEF708

This article describes the demolition of the old City Hall building. The demolition created a large mess that workers now need to clean up. Neighboring buildings were also damaged from the explosion. The photo displays the ruble left over.

The problem: After destroying the building, many people now need to clean up this mess. This may cause traffic jams or be in the way of sidewalks. The explosion damaged another building, which now needs to be fixed. The business it affected may now be set back from this.

The people: The workers who are cleaning this up are affected. The building and business now needs to clean this up. Neighboring buildings now have to look at a mess until it is cleaned up.
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Title: Next steps eyed in woes against water war

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFTUB%21Florida%2BTimes-Union%252C%2BThe%2B%2528Jacksonville%252C%2BFL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17127DF9D5C37CC8

This article describes how Florida's state government is attempting to fight the red-tide and protect fish. The main causes of the death of fish seem to be runoff from agriculture, specifically the sugar industry. Florida's government is putting millions towards combating these issues.

The problem: Florida's waters are being polluted with algae and toxins that are harmful to marine life. This is bad for wildlife overall and specifically the fishing industry.

The people: The farmers whose waste drains into water are a cause of the problem. The fish living in the water are killed from this waste. The people whose income depends upon fishing and selling healthy fish are hurt by the lack of healthy fish available. The people who consume fish are also impacted as well because prices may rise due to less of a supply.
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Title: Former firefighter jailed after 2nd battery arrest

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFTUB%21Florida%2BTimes-Union%252C%2BThe%2B%2528Jacksonville%252C%2BFL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17127DFA0A3426F0

This article describes the arrest of a firefighter who strangled and beat a woman while on probation from previous charges. The man pulled a woman off of a firetruck and drug her on the ground in St. Augustine. He was found intoxicated by police and put in jail afterwards.

The problem: A man failed to obey the law after breaking probation rules and hurting a woman.

The people: This affects the man who is now in jail, the woman who was hurt, the police department whose reputation is now hurt, and the police officers who have to watch over this criminal.
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Title: Expert: Timber industry faces a long recovery

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFTUB%21Florida%2BTimes-Union%252C%2BThe%2B%2528Jacksonville%252C%2BFL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17127DF9A448AA70

This article describes how Hurricane Michael destroyed valuable forestry. Many trees are now dead, covering land in rural areas that need to be used for other purposes. The article describes how money is being allocated to clear these rural areas.

The problem: Trees are covering land and homes in rural areas. These communities need help to clear the mess. These trees are also no longer contributing to the environment in the same way that they used to.

The people: This affects the timber industry who no longer can use the trees, the homeowners who have fallen trees on their property, and the wildlife and air that no longer has the housing for animals or oxygen that these trees used to give off.

Friday, January 18, 2019

4A- Forming an Opportunity Belief

1.      With the increase in music streaming services and the trend of purchasing vinyl records I see an economic opportunity by using these streaming services to purchase vinyl records that are made into your favorite playlist. Streaming services such as: Title, Spotify, Soundcloud, and Apple Music would be able to license music and be able to press the songs on to a record and sell directly to their consumers. Furthermore, I feel that casual music listeners, collectors, and record stores would enjoy being apple to acquire unique records that are derived from their specific taste.
2.      A friend from class
a.      What do you think of being able to buy a record that has your favorite streaming service playlist on it?
                                                     i.      “I believe it would be a really good gift as it is unique to the person that has their own taste in music.”
b.      Do you see any downsides to being able to buy records off of streaming services from your personal playlist?
                                                     i.      “Hmm, I think that the downside would be that I wouldn’t be able to skip any songs and since I have a massive playlist It would have to be several records.”
3.      Student that plays guitar.
a.      What do you think of being able to buy a record that has your favorite streaming service playlist on it?
                                                     i.      “Wow, I really like that idea, but wouldn’t the records be expensive to produce? I think that it would be really cool because artist could upload their songs to streaming services and be able to record their own music and make records.”
b.      Do you see any downsides to being able to buy records off of streaming services from your personal playlist?
                                                     i.      “I probably would think that the possibility of legal issues would arise from it because of all the artist contracts. Also, I think that most recording companies have the sole legal right to print and distribute music.”
4.      Student wearing headphones
a.       What do you think of being able to buy a record that has your favorite streaming service playlist on it?
                                                     i.      “I personally own a turntable at home and it’s hard to transition from record to record and listen to different songs without transitioning records. It would be cool to make a record with different music genres on it and listen to it and have your own personal spin to it (no pun intended).”
b.      Do you see any downsides to being able to buy records off of streaming services from your personal playlist?
                                                     i.      “I think that the only downside is that I constantly update my playlist with new music. However, I will argue that it would make my record more personal than having it on my phone since it would make it a tangible thing.”
5.      Reflection
a.      I think it’s a great opportunity in theory, however I soon learned through the various interviews that there are some legal issues when streaming music and the distribution of record label songs. The most surprising thing I found through interviewing people was that people were overwhelmingly supportive of the idea. Furthermore, the interviewers gave insight into the different takes on being able to print and record music. Specifically, the second interview gave fruition to a new idea for having streaming companies offer recording for artist to have their own music printed. It gave me a better understanding of how to approach said opportunity to garner greater support and fix any downsides that may arise from the printing o records from streaming services.
6.      Summarize:
a.      How much of your original opportunity is still there?
                                                     i.      Most of my original opportunity is still there, because the interviews gave fruition to the want for records derived from their personal Spotify playlist. However, I believe from the second interview it gave the idea to expand the opportunity to allow music artist to be able to record and print their own music by uploading their own music.
b.      Do you believe that your new opportunity is more accurate than when you started?
                                                     i.      I think so, reason being that by allowing more consumers to upload their own music and being able to purchase records of their own music it allows for a greater market to open up for artist that may not have the capital to get recorded professionally and signed with a label.
c.      How much do you think entrepreneurs should ‘adapt’ their opportunities based on customers feedback?
                                                     i.      I think it would be a smart move on their part since it would allow for greater markets to be available in relation to being able to press records from streaming services. Additionally, I think that through the licensing issues streaming services have been able to navigate many issues and would surely be able to adapt to new markets such as record selling.

3A- Your Entrepreneurship Story

My family is full of entrepreneurs. My parents have started multiple businesses and currently have a roofing business. My brother and myself are also entrepreneurs. When I was a freshman in high school, my neighbors asked my brother and I to mow their lawn as a favor. Over time, more and more people would see us mowing lawns and we would be referred to other neighbors. Once we had enough customers, we began to advertise with fliers and purchased more equipment to grow. We ended up accumulating over 70 customers whose lawns we took care of 2-4 times a month. This was a very rewarding experience for the both of us and came with the help of our parents.
I enrolled in this course to learn about how I can become a better entrepreneur. I'd like to have my own business someday so I'm hoping this class will help.
Attached is a photo of the mower we used when we first started.
Image result for scag mower

2A- Bug List

2A-Bug List
Bug List:
11)      I often have to wait to use equipment at Southwest Rec. This problem exists because there are many people in the gym who want to use the equipment at the same time I do and I tend to go at the same time that most other students are free.
22)      My car often has door dings and scratches from other cars in the Fraternity Row parking lot. This problem exists because the spaces are small and people aren’t always considerate of other people’s vehicles.
33)      I sometimes wake up to the sound of my roommate’s alarm clock. This bug exists because we share a room and our beds are located directly above and below each other, without any insulation or sound barriers.
44)      My headphones often die at inconvenient times. For example, when I’m at the gym or watching a class lecture. This bug exists because I try to complete activities all at once that extend past the life of the headphone battery.
55)      I am frustrated when I sleep past my alarm in the morning. This bug exists because I am a heavy sleeper and am often too deep into sleep to hear it.
66)      The light is out in my bathroom and I have to use a phone light to see. This bug exists because I do not regularly change the light and also do not have spare bulbs to replace it with.
77)      My printer is not working. This bug exists because I have not been regularly updating the software on it.
88)      My shoes get covered in drinks and dirt when I wear them out to a bar or other crowded area. This bug exists because drinks are spilt and people step on each other.
99)      I’m annoyed when I have trouble finding products in stores. For example, the last time I went to CVS I had trouble finding ice packs. This bug exists because I do not know the location of all the products and sometimes they are placed in an area you wouldn’t expect.
110)   I am annoyed when people send messages in GroupMe chats that don’t relate to the purpose of the chat. This bug exists because people try to find answers to questions that aren’t relevant or they use the chat to advertise.
111)   I am bugged when my shirts end up having wrinkles after they have been folded in my dresser for a long time. This bug exists because the clothing is being pressed by other clothing and folding naturally can create creases.
112)   I am annoyed when my charger stops working. This bug exists because my chargers are damaged or torn when I stretch them out and cram them into my backpack.
113)   I am annoyed when I do not have good cell phone service. This problem exists because my provider does not provide service everywhere or because I try to use apps that require a strong connection.
114)   I am annoyed when I lose my keys. This problem exists because I set them down somewhere without consciously identifying where they are.
115)   I am annoyed when I get stuck behind a bus when I’m driving because it slows me down. This problem occurs because they use the same roads that I do.
116)   I don’t like when people take up two parking spots with their car. This occurs because people want to park in a way that prevents door dings and having space to get in and out of their car. They also may not care enough to correct it.
117)   I don’t like when my drinks become watered down because they don’t taste as I’d like. This occurs because I don’t finish them fast enough before the ice melts.
118)   I am frustrated when I’m congested. This occurs when there is more pollen in the air than usual.
119)   I am frustrated when I have a headache. This often occurs because I am dehydrated or stressed.
220)   I am annoyed when ads are inserted into YouTube videos I am watching. These ads are inserted into videos so that YouTube can generate revenue from companies who want to showcase their product or service.
I think that this assignment was a bit more difficult than usual.  It was a simple concept but I had to walk myself through my daily routines in order to find the things that annoy me. Sitting down in front of a computer did not provide me enough examples so I had to use my imagination. I feel like I’ve identified a good amount of things that could be easily fixed by a new product or service. I felt negative when writing this.