Identifying Opportunities in Economic and Regulatory Trends

Economic Trend: The economy is in the expansion stage of the business cycle.

• Source: https://www.thebalance.com/top-usa-future-economic-trends-3305666
• I believe there is an opportunity here because the cycle will be in this phrase for several more years. The economy generally follows the business cycle. 
• The prototypical customer would be people trying to start their own business.
• I think it would be relatively easy to exploit. People always want to get in on the money and they would be more willing to do business if they feel confident they will be successful. 
• I saw this opportunity because in my work experience, there are usually always times when business is slow and times when business is booming. This opportunity will not be around after a few years because the business cycle stage will change.

Economic Trend: Rebounding from natural disasters

• Source: https://commercial.jpmorganchase.com/pages/commercial-banking/executive-connect/six-key-economic-trends
• I believe there is an opportunity here because economies are still rebuilding from the disasters that hit them. They still have room to grow and mold into the new form they will take. 
• The prototypical customer would be the residents that lived in the locations hit by natural disaster.
• I think it would be moderately easy to exploit because the citizens are in shambles after the disaster, but they might not have the funds to afford it.
• I saw this opportunity because after being in a situation in which I thought my world was ending (it wasn't), I realized I was more willing to do anything to satisfy my needs. People act in ways they normally do not in these situations. 

Regulatory Trend: Medical marijuana becoming legalized

• Source: https://www.workcompwire.com/2018/11/partner-post-4-current-regulatory-trends-and-what-they-mean-for-pharmacy-management/
• I believe there is an opportunity here because sooner or later, medical marijuana will be legal nationwide. There is also a good chance it becomes legal for recreational use also.
• The prototypical customer would be those in pain, looking for an euphoric high to make them feel better. 
• I think it would be an average difficulty to exploit. While there are states on board with medical marijuana use, there are still some against it that will not help our case. 
• I saw this opportunity because of a visit I had to California. In California, marijuana recreational use is completely legal. While I am only 20 and could not make a purchase there even if I wanted to, I saw many people with the substance. 

Regulatory Trend: Accidental discharges of hazardous substances spill prevention

• Source: https://www.greatamericaninsurancegroup.com/for-businesses/property-casualty-divisions/division-contacts/environmental/2018/environmental-insider-april/april-insider-features/future-environmental-regulatory-trends
• I believe there is an opportunity here because the majority of people would say they care about the environment. They want factories to be "green" with their business and may push factories into making these changes.
• The prototypical customer would be companies that have factories controlling toxic substances.
• I think it would be difficult to exploit. Factories will not want to make the changes if they are still making money. People would need to pressure them into making these changes. 
• I saw this opportunity because I am a very environmental conscious person. I care that we take care of our earth and that my future descendants will have a clean place to live. 

Identifying Local Opportunities

“Keeping Pets Safe from Toxic Dog Chews and Toys” by Jenniffer Weigel

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ACSTB%21Chicago%2BSun-Times%2B%2528IL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&action=browse&format=text&docref=news/1712125216F5E248

• The author tells of her discoveries after posting a photo of her dog on social media with a rawhide treat. There are many harmful items out in stores intended for us to give to our dogs. The author names off products and things pet owners can make themselves in our to have safe treats for their dogs
• Rawhide is one of the leading materials that are dangerous for our dogs. It has high amounts of chemicals in it and is highly processed. Dogs are unable to digest the material, and if they consume it, it can clog their intestines. Products from other countries have different regulations, so people need to learn what products actually are before giving them to their pets.
• Anyone providing food to dogs can have this problem. Those that have already done research would hopefully already be aware.

“Cause of Explosion, Fire at Northbrook Home Remains Undetermined” by Sun-Times Wire

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ACSTB%21Chicago%2BSun-Times%2B%2528IL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&action=browse&format=text&docref=news/1712125185661480

• There was a fire in a home in Northbrook last week. Authorities have not yet determined the cause and do not know if it was intentional. The fire was under control after an hour and a half.
• Authorities do not know if somebody purposely set the fires to either claim in on their insurance or if somebody was trying to hurt those with the homes. Damage had been done to a total of three houses.
• The three families that lived in the homes have the problem of their homes being affected, while the authorities have the problem of finding out how the fire was started.

“Manhunt Underway for Suspect in Orland Park Mall Shooting” by Stefano Esposito

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ACSTB%21Chicago%2BSun-Times%2B%2528IL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&action=browse&format=text&docref=news/17121251E3DB8508

• There was a shooting at Orland Square Mall resulting in one death and another injury. The shooter is a 19-year-old who is still on the loose. The shooter got into a fight with the target near the food court and eventually shot him in the chest.
• There is an armed and dangerous person who police are searching for who just killed somebody.
• People in the community need to be on the lookout for the suspect to make sure they are safe.

“Man Reported Missing from Jefferson Park Considered ‘High Risk’” by Sun-Times Wire

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ACSTB%21Chicago%2BSun-Times%2B%2528IL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&action=browse&format=text&docref=news/1712125230155B50

• A man who is considered a ‘high risk’ has been reported missing from the Jefferson Park neighborhood Monday afternoon. The man, who suffers from both a brain injury and seizures, left his house and never came back. Nobody knows where he could have gone.
• The man deemed a ‘high risk’ left his home and did not tell anybody where he was going. He left without a coat, even though there is freezing weather in the Chicagoland area.
• Keith Benincasa, the man they is missing, has the problem because he is not suitable for looking after himself, yet nobody knows where he is.

“Preckwinkle Vows to Revamp Overly Punitive Ticketing Policy Targeting Minorities” by Fran Spielman

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ACSTB%21Chicago%2BSun-Times%2B%2528IL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&action=browse&format=text&docref=news/17121251D66BCEA0

• Toni Preckwinkle plans to bring equality to an unfair ticketing policy aimed at minority motorists. Preckwinkle, a candidate for mayor, blames her number one opponent, Susana Mendoza, for this problem. Preckwinkle wants to bring the city stickers prices back down, as well as making a schedule of payment plans for them so more people can afford to drive.
• Current ticketing policies unfairly target minority motorists. Many of them have gone into bankruptcy because of these policies. According to studies, communities of color have been targeted 40% more than others.
• The problem affects low and moderate income people of color.

Forming An Opportunity Belief

I believe there is an issue when new transfer students begin their studies at the University of Florida. Nobody explains the bus system, but countless people tell you to just download the Rider app. When we attend our transfer orientation, nobody explains where you should get on the bus to get to where you want to go. I believe all transfer students will have this problem, especially those that are unfamiliar to the Gainesville area. They may have helped more in the past, but now students are confused on how to get where they need to go. I believe there is a 90% chance that this need exists, since both my transfer peers and I are confused.

#1: 50-year-old new student female

·       Have you ever had any issues figuring out where to ride the bus to?

o   Yes I have. I have to use my map in order to find anything anywhere, but it takes me some time finding out what goes where and when.

·       Have you ever gone to the wrong place before?

o   No I have not.

·       Have you ever been late to some place?

o   No I have not. I do prepare to find my buses way ahead of time though.

·       Do you think they should teach new students how to use the bus system?

o   Yes I do. I hear all the time how students struggle to get to where they want to go.

#2: 20-year-old transfer female student

·       Have you ever had any issues figuring out where to ride the bus to?

o   Yes I have. The Rider app is constantly changing what it tells me to do and I am confused.

·       Have you ever gone to the wrong place before?

o   Yes I have. I once went to the opposite side of campus when I was trying to go to class.

·       Have you ever been late to some place?

o   Yes when I was trying to go to class.

·       Do you think they should teach new students how to use the bus system?

o   Yes I found it weird that they didn’t teach us more at the orientation. If somebody could explain how to use the app better, we could probably get around more easily.

#3: 19-year old transfer male student

·       Have you ever had any issues figuring out where to ride the bus to?

o   Yes I have. There’s so many different routes I cannot keep up with where they all go.

·       Have you ever gone to the wrong place before?

o   Thankfully I have not.

·       Have you ever been late to some place?

o   Yes but I think that is because the bus was not on time like it said it was.

·       Do you think they should teach new students how to use the bus system?

o   Yes that would be helpful. Lots of my buddies have had issues getting to where they need to go and I think it is all a mess.

Reflection: I believe that there is still an opportunity out there, but not as much as I anticipated. Some people are able to figure out where they need to go all on their own. Often, students are fine figuring it out by themselves, but they could still use extra help. Entrepreneurs should definitely adapted to what they hear customers say. By listening to potential customers, we can create the best product possible, which would help us sell. By being able to solve their needs, people would be more willing to spend their hard earned money.

Your Entrepreneurship Story

One time I was exposed to entrepreneurship that I found interesting was when I got picked up from an Uber last Sunday. After having a little small talk with the driver, he asked me what my future goals were from getting my degree. After stating that I want to start my own company, he began telling me about his own past in business. After moving here from Arkansas to help run his father-in-law’s business, they split ways. He ended up going back to school before somebody took him to mentor him. He then started his own business. After my ride was over, he wanted to exchange numbers and meet up again to try to mentor me. While I think he is a liar (because why would he be driving an Uber), the conversation seemed really insightful and motivated me to stick to my goals.

I enrolled in ENT 3003 because I am planning on minoring in entrepreneurship. In the future, I want to start my own business. I am not sure what that business will be doing, but I know it will be successful because of how hard I am willing to work. From this class, I want to learn, shockingly, the principles of entrepreneurship. I want to learn how to come up with a winning product or service and how to be successful promoting and selling it. I want to learn what it truly takes to start up a business.

Bug List

Bug #1: No paper towels in bathroom in Turlington Hall

Why: The janitors have a large amount of space they need to look over and do not have time to check everything.

Bug #2: No printing paper in the computer lab for my apartment complex

Why: Somebody printed an entire book previously and the apartment does not want to leave so much extra paper available because people will take it.

Bug #3: Not knowing where the buses go

Why: When students begin attending the University of Florida, nobody explains the bus system.

Bug #4: No open seats in my marketing class

Why: The university does not expect as many students to go to class as the amount that want to.

Bug #5: Keyboard and mouse on my surface computer not working occasionally

Why: The computer is both a laptop and tablet and the sensor is a little busted so I have to disconnect the keyboard like 10 times to get it to work.

Bug #6: Bus rider trying to fight me

Why: I did not get the memo that everybody was not off the bus yet and bumped into him.

Bug #7: Not seats on the bus

Why: Too many people are relying on public transportation and there is not enough room on the bus.

Bug #8: Phone dying

Why: Cellphones can only have so much juice in them, resulting in users having to charge them throughout the day.

Bug #9: Ants in my bedroom

Why: The person that lived in my apartment before me lived a dirty lifestyle and the apartment staff failed to clean it before I moved in.

Bug #10: Dirty kitchen

Why: My roommate fail to clean up after themselves right away, leaving the cleaning until later.

Bug #11: Being woken up from noises

Why: My apartment’s walls are thin, so I am able to hear people starting their days in the mornings.

Bug #12: TV in living room not working

Why: None of my roommates brought an extra HDMI cord to start the TV and the apartment does not supply one.

Bug #13: Chase bank declining my use of my debit card

Why: The bank believes I am still in Chicago and is not accepting my transactions in Florida.

Bug #14: Shoes getting dirty after walking through dirt

Why: The shoes were white, which easily displays anything that is put on them.

Bug #15: Gainesville security guarding a hole in a fence to keep people from going through

Why: Somebody believes it is a problem, even though the apartment complex were the ones who made the hole.

Bug #16: Not having a car in Gainesville

Why: My car’s transmission went out for the 2nd time in half a year when I was coming down, so I had to abandon it to get to my orientation on time.

Bug #17: Not having many utensils or food

Why: I planned on bringing some from back home in Chicago, but I was only able to bring my necessities after my car died.

Bug #18: People that smell on the bus

Why: They are not good at keeping up with their hygiene, especially when it is warm out.

Bug #19: Emergency vehicles blasting their sirens near my apartment what feels like 24/7

Why: People have issues that they need an emergency vehicle for and the drivers want other people to be aware of their presence.

Bug #20: Headphones falling out of my ears

Why: They have the cords attached to them which always gets pulled by something, which ends up pulling them out.

Reflection: Throughout the day I noticed countless things that bugged me. If I did not write them down initially, it was hard for me to remember them. When I sat down the first time to do this assignment, it would take me a good amount of time just to think of one thing that bugged me. Afterwards, the second something bothered me, I would be quick to mark down what it was so I would not forget. If I could instantly mark down everything that bugged me throughout my life, I am sure the list would be increasing dramatically.  

EMERGENCY

This is just a test.