Avery Smith ENT 3003 : January 2019

Friday, January 25, 2019

6A Identifying Opportunities in Economic and Regulatory Trends

Economic Trend 1: “The Price of Chinese Solar Panels Are About to Go Up”

A. Source: http://fortune.com/2019/01/24/chinese-made-solar-panels-recover/

B. According to the article, the price of Chinese solar panels is about to go up. The opportunity exists because even though America is also a major producer of solar panels, the rising prices of the foreign solar panels may force people to turn to producers domestically. If there was a way to develop good quality, low priced solar panels domestically then there is a huge opportunity.

C. The most likely customer with this opportunity would be anyone looking for solar panels in the United States (more than likely residents of the southern states where there is more direct sunlight).

D. The opportunity would probably be relatively difficult to exploit. The problem would be the startup costs and manufacturing costs of producing good solar panels.

E. I saw this opportunity because having lived in Florida for a long time I understand the benefit of having solar panels and saving money on electric bills. I have also been in classes where they talked about the huge benefit of having solar panels for your homes.

Economic Trend 2: Interest rates are increasing

A. Source: https://www.thesimpledollar.com/four-economic-trends-that-will-impact-you-this-year/

B. I think an opportunity exists here because now that interest rates are increasing, it will be harder for lower income families to pay back loans. People would need an alternative way to either borrow money or earn a little extra to avoid having to get a loan with a high interest rate.

C. The most likely customer is anyone who wants to avoid paying high interest rates, most likely low income workers.

D. The opportunity would be somewhat difficult to exploit since many government programs already exist to assist people in this situation. However, with the proper funding and resources, I think it would be easier to exploit.

E. I saw this opportunity because I have witnessed others who have struggled either to get loans or pay them back due to the high interest rates. Also, I have taken some economic courses, so I have some knowledge in how this process works and what could be done.

Regulatory Trend 1: A bill trying to entice Crypto Startups to stay in the U.S.

A. Source: https://www.forbes.com/sites/jeffkauflin/2019/01/10/crypto-startups-are-fleeing-the-usthis-bill-is-trying-to-stop-them/?ss=crypto-blockchain#61026ac2267a

B. I think an opportunity exists here. If the bill were to pass, it would give crypto startups more clarification on how cryptocurrency will be viewed in the United States and will provided better foundations for innovation and the business moving forward.

C. The most likely customer would be anyone in the United States who wishes to use cryptocurrency in the marketplace.

D. I think at first it will be somewhat difficult to exploit due to having to obtain the funds and technology to get the business running. Once the business is formed, I think it would be somewhat easy to keep it going.

E. I saw this opportunity because in today’s society, cryptocurrency is becoming the next “big thing”. I have always have had an interest in how cryptocurrency is going to change how people are going to exchange goods and services. I think many startups now are hesitant to build a company in the U.S. but if the new legislation passes, I think it would be a great opportunity.

Regulatory Trend 2: Increased cybersecurity regulation and enforcement

A. Source: https://www.prnewswire.com/news-releases/chubb-announces-key-cyber-security-trends-to-watch-in-2019-300774820.html

B. This information has led me to believe that an opportunity exists because there is always a need for cybersecurity. With new proposed regulation, there is going to be an increased need not only for data privacy but also data security.

C. The prototypical customer would be any company or person that collects data and needs cybersecurity to protect that information.

D. This idea will probably be easy to exploit because cybersecurity has been around for awhile now. Once the regulations are in place it would be easy to follow them and make sure everything works the way it is supposed to.

E. I saw this opportunity because from my own experience I know the need for cybersecurity is high. With the software I helped design in high school, we needed cybersecurity in place to protect peoples’ payment information and any legal information. My experience with it definitely helps in recognizing its importance and the opportunity.

5A Identifying Local Opportunities

1. “Peril for pedestrians on rise in this region” by Dale White of the Sarasota Herald Tribune

· https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASHTB%21Sarasota%2BHerald-Tribune%2B%2528FL%2529/year%3A2019%212019/mody%3A0123%21January%2B23&f=advanced&action=browse&format=text&docref=news/1712368164043700

· This article is about pedestrian safety. In a nationwide study by Smart Growth America and its National Complete Streets Coalition, Florida was ranked the most dangerous of the 50 states for pedestrians. The Sarasota area is now ranked fourth most deadly region for pedestrians among the country’s 100 largest metropolitan statistical areas. There have been about 235 pedestrian deaths in the Sarasota area from 2008 to 2017. In that same period, drivers killed 49,340 pedestrians in the United States. In the past decade, the death toll has increased 35 percent. The Sarasota-Manatee Metropolitan Planning Organization and the Florida Department of Transportation are trying the “complete streets” approach but have a long way to go.

· The problem in this article is a concern over pedestrian safety. Many pedestrians are being killed by drivers. Florida, in particular, is the most dangerous of the 50 states for pedestrians. There needs to be a way of making it safer for pedestrians on the roads.

· This is a problem for pedestrians everywhere in the United States. Locally, it affects the Florida Department of Transportation, any Florida pedestrian and it also includes drivers who are at risk for hitting a pedestrian.

2. “Here’s one way to stop living paycheck to paycheck” from the Gainesville Sun

· https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0123%21January%2B23&f=advanced&action=browse&format=text&docref=news/1712811927B008C0

· The author talks about the importance of keeping a budget. The author talks about how their grandmother used to budget and how many people should learn how to do this task. A 2018 study conducted by the National Foundation for Credit Counseling found that only 41 percent of people have a budget. The author claims that people could avoid unnecessary hardship and be in a better financial place if they just budget or budget better. Even though the article primarily talks about those affected by the government shutdown, the advice the author gives applies to all. The article also provides a few suggestions on how to budget.

· The problem that is presented in the story is that people could be in a better financial position, but they do not budget. People do not budget either because it has a bad stigma, or they just simply do not have enough time.

· Anyone can have this problem. At the moment this greatly affects those affected by the government shutdown, but anyone who earns good money and struggles financially is also affected by this problem.

3. “Schools consider ban on cellphones” by Elizabeth Djinis of the Sarasota Herald Tribune

· The Sarasota County School Board is debating a bill whether to allow cellphones in the classroom. The current policy is that during school hours phones must be turned off or are being used for educational purposes. Some feel the policy is not being enforced well and that cellphones cause a disruption. Some teachers oppose the ban since they use technology in their curriculum. Some parents also oppose the ban because they want to be able to connection to their children due to growing safety concerns at schools. There is currently talk about limiting phone use in the lower grade levels.

· The problem presented is that there is a common ground for those who want a ban of cellphones in the classroom and those who want kids to have cellphones at school. No matter which way this proposal goes, it creates problems either way for both sides.

· Students with cell phones, parents, teachers, and the Sarasota County School Board all have this problem.

4. “Bills aim to relieve teacher shortage” from the Sarasota Herald Tribune

· https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASHTB%21Sarasota%2BHerald-Tribune%2B%2528FL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17128AD21BEC73E8

· State Senator Joe Gruters and State Representative Margaret Good have introduced bipartisan legislation to solve the problem of having a shortage of qualified substitute teacher available for public schools. The proposed legislation would allow instructional staff to turn to substitute teaching immediately after retirement while avoiding losses to retirement benefits. The current rule states retired educators shall lose some benefits if they are rehired by any school district within the first six months of retirement. Currently, there is a shortage of qualified substitute teachers which has led to increases in full time teacher vacancies.

· The problem presented by this article is that there is currently a shortage of substitute teachers in the school system due to current legislation which has led to many full-time teacher vacancies. If the bill does not pass, then there will continue to be a shortage. Even if the bill does pass, it still does not solve the problem of having full-time vacancies, it just creates a temporary solution.

· The people affected by this problem are retired educators, the schools, teachers ready to retire, and the students who are in need of qualified educators.

5. “The problems I can’t unsee – reflections on a race” by Kayser Enneking of the Gainesville Sun

· In this article Kayser Enneking reflects on her campaign experience. She often met people who spoke up and showed leadership on key issues while others just simply ignored these issues. She noticed the gap between the social classes and availability of resources. Her biggest belief is that there should be easier access to health care in District 8 (Alachua, Putnam, and Marion counties).

· Enneking presents two problems in this article. The first is the access to health care. There are currently access problems to the health care system. Some say it is currently hard to navigate and there is no clear guidance. Others are saying the financial costs are too high.

· The second problem she briefly mentioned was dark money, which is funds raised to influence elections by nonprofits who do not have to disclose the identity of any donors. There is not currently a way of regulating where the dark money comes from and how it is influencing elections.

· The people affected by these problems are the people of Senate District 8 who can not access health care easily and campaign teams.

Friday, January 18, 2019

4A Forming An Opportunity Belief

I believe there is a need for a platform, like an app, to help people with conversation starters. Some people tend to find themselves in situations where during a conversation there is a moment of awkward silence. Maybe the people of the conversation ran out of things to talk about. Maybe someone is trying to start a conversation with a person they have never talked to before, but do not know how to begin the conversation. No matter what the setting is, there is always a need for conversation starters. Anyone could have this need. A good example of someone in need of conversation starters would be first year college students. Many first-year college students may not know very many people and may need a way to strike a conversation with other students they have not met before. There has always been a need for ways to strike a conversation in any setting. Some people have the ability to walk up to someone and strike a conversation easily. Others may not feel comfortable with that idea and may write a list of things to talk about or use common conversation phrases, and hope that there are never any awkward moments of silence during a conversation. That is why I think an application that generates conversation starters for any setting and allows people to discretely check their phone for help, would help prevent any awkward pauses or difficulty in starting a conversation. Now this may not be for everybody, but I do think it would be a good tool to have if someone needs a quick idea on what to say next. I would say I am about 70% this opportunity exists.

First-year teenage female college student

· How often do you experience awkward silence in a conversation?

Ø Answer: “I’d say 2 out of every 10 conversations I have.”

· Do you ever feel anxiety or stress during periods of awkward silence?

Ø Answer: “Definitely”

· Do you tend to look at your phone when faced with silence and do not know what to say?

Ø Answer: “Yes, I do.”

· How often do you look for conversation starters?

Ø Answer: “Probably 75% of the time there’s an awkward silence”

· Is there any particular setting(s) where you find it is difficult to start a conversation?”

Ø Answer: “When I’m confused in class and need another opinion”

· How do you currently come up with conversation starters?

Ø Answer: “I find a common goal and ask if they want to work on it together.”

· Do you feel like your current methods of starting conversations are effective?

Ø Answer: “Somewhat.”

· How would you feel if there was an app that allowed you to quickly find a topic/question that would aide you in starting conversations in any setting?

Ø Answer: “It would certainly take the edge off of the awkwardness.”

Reflection:

There is definitely some potential for this opportunity. It seems that some people are comfortable talking and creating conversations, but at the same time experience awkward silence sometimes. It seems like someone like this would be open to using an application that could help which means there is definitely an opportunity.

Second-year female college student

· How often do you experience awkward silence in a conversation?

Ø Answer: “Rarely or never.”

· Do you ever feel anxiety or stress during periods of awkward silence?

Ø Answer: “No, I do not”

· Do you tend to look at your phone when faced with silence and do not know what to say?

Ø Answer: “Yes, I do.”

· How often do you look for conversation starters?

Ø Answer: “Pretty often. I like to talk a lot.”

· Is there any particular setting(s) where you find it is difficult to start a conversation?”

Ø Answer: “Yes, in class when the teacher goes ‘discuss among yourselves’ and you have no idea who the person is next to you.”

· How do you currently come up with conversation starters?

Ø Answer: “I guess it would depend on the situation because sometimes conversations just start naturally in certain settings.”

· Do you feel like your current methods of starting conversations are effective?

Ø Answer: “Yes, since I talk so much, and I am not shy.”

· How would you feel if there was an app that allowed you to quickly find a topic/question that would aide you in starting conversations in any setting?

Ø Answer: “I think that could be helpful to lots of people, but I do not think it is something I would necessarily use.”

Reflection:

Some people are very comfortable with freely starting conversations in any setting. This opportunity probably would not be as effective with this group of people. This reinforces the idea that this opportunity would not work with everyone and that is ok. I was surprised by how she acknowledged that even though an application like the one proposed may not be for her, it would be good for others.

First-year, 19-year-old male college student

· How often do you experience awkward silence in a conversation?

Ø Answer: “2-3 times a day”

· Do you ever feel anxiety or stress during periods of awkward silence?

Ø Answer: “Yes, definitely.”

· Do you tend to look at your phone when faced with silence and do not know what to say?

Ø Answer: “Yes, I do.”

· How often do you look for conversation starters?

Ø Answer: “4 times a week.”

· Is there any particular setting(s) where you find it is difficult to start a conversation?”

Ø Answer: “First time meetings with people.”

· How do you currently come up with conversation starters?

Ø Answer: “Ask for pointers from other people.”

· Do you feel like your current methods of starting conversations are effective?

Ø Answer: “No, I do not.”

· How would you feel if there was an app that allowed you to quickly find a topic/question that would aide you in starting conversations in any setting?

Ø Answer: “I would like the app.”

Reflection:

Based on these responses, I learned that there is definitely an opportunity for an application to help with conversation starters. It seems that it would be very helpful to those who experience awkward silence in conversations frequently.

First-year, 18-year-old male college student

· How often do you experience awkward silence in a conversation?

Ø Answer: “Not frequently.”

· Do you ever feel anxiety or stress during periods of awkward silence?

Ø Answer: “When I do experience awkward silence if I am the one causing it then I do feel stress or anxiety.”

· Do you tend to look at your phone when faced with silence and do not know what to say?

Ø Answer: “Half and half.”

· How often do you look for conversation starters?

Ø Answer: “I occasionally will.”

· Is there any particular setting(s) where you find it is difficult to start a conversation?”

Ø Answer: “After late night classes/meetings.”

· How do you currently come up with conversation starters?

Ø Answer: “No particular strategy. Something just comes to mind.”

· Do you feel like your current methods of starting conversations are effective?

Ø Answer: “Relatively, but they always can be improved.”

· How would you feel if there was an app that allowed you to quickly find a topic/question that would aide you in starting conversations in any setting?

Ø Answer: “I would be interested in using it if others were using it frequently.”

Reflection:

For some people, they would be open to using something like an application to help with conversation starters, but only if others are using it. This could mean there is still potential for this opportunity, but in order to be successful with some people it would require a wide acceptance.

Summary:

I think that the opportunity still exists. I knew that there would not be an opportunity with everyone and that was reconfirmed by some of the feedback. I think after hearing some feedback, I can definitely narrow down the customer base where this opportunity would be the most successful. I do think my new opportunity is more accurate than when I started. I think that in order to be successful, the opportunity would have to be modified to work well with different groups of people. I think it is very important for entrepreneurs to “adapt” their opportunities based on customer feedback, especially in the early stages on deciding if the opportunity exists. However, I think it is important to not change too much of the original designs and values once you decide to pursue the opportunity.

3A Your Entrepreneurship Story

I have been exposed to entrepreneurship various times in my life, but the most significant time was during my sophomore year of high school. That year, a study conducted by the Legal Services Commission stated “86 percent of legal problems reported by low income Americans in the past year were handled with ‘inadequate or no legal help’”. Many of the people then must represent themselves in court when they have a legal issue. However, it was often difficult to find the resources they needed to be able to represent themselves effectively and efficiently.

My father and I saw this problem locally and decided to try to find a way to solve it. We developed a software called My Law designed to provide the legal tools people need to present in court. The product includes access to all of the state statutes, rules of court, a search engine for case law, and a platform that users can upload documents and take notes in. After two years of product development and testing, we released My Law to the public for free in January of 2018. Since its release, we have had over 200 users and have been working with self-help centers in the local courts to provide easier access to anyone who needs it. This experience has been really eye-opening and enriching. Not only being able to identify a problem in my community, but also being to help others has been a very valuable experience for me.

I enrolled in ENT 3003 because of my interest in entrepreneurship. I really enjoy the idea of finding problems and ways to solve them. I feel like I can learn a lot about that from this course. What I hope to get out of this course is more practice in identifying opportunities and creatively finding solutions for each “problem”.

2A Bug List

Assignment 2A – Bug List:

1: Noise from dormmates in the middle of the night.

WHY it exists: Everyone in the dorm has different sleep schedules. Some people go to bed earlier, some people go to bed later. Those who stay up late during the night either spend the time watching tv, having people over, etc. Naturally, this could cause noise that would wake up those who go to sleep earlier.

2. Toilet bowls being clogged in the bathroom.

WHY it exists: There occasionally is toilet paper rolls or other objects that prevents the bowl from flushing. The rolls or other objects either fell in or were placed in there.

3. Going to Panera during late hours and they are out of bread.

WHY it exists: Since it is during the late hours, their bread inventory may be low since most of the bread they made earlier in the day would have been sold throughout the day.

4. People driving slow in the left (passing) lane on the freeway.

WHY it exists: Some drivers ride the passing lane. It is probably not well known that the left lane is designed to let drivers pass the right lanes which may be causing confusion among drivers, resulting in people driving slowly in the passing lane.

5. People who do not go at traffic lights when they turn green.

WHY it exists: When the lights are red, drivers get distracted while waiting for the light to turn green. When the light turns green, the drivers may not be not notice the color of the light changed since they are distracted.

6. People who do not pick up waste from their dogs when they complete their business outside.

WHY it exists: People with the dogs may not know that they must pick up any waste when their dog completes its business. It is also possible they may not have a way to clean up any waste (i.e. do not a have a bag).

7. Doing group projects and you end up having to do all of the work.

WHY it exists: Sometimes during group work, some people may not be as motivated or interested as others and so the workload falls on the shoulders of those who try hard to complete the work and get the grade.

8. When people take up two parking spots in the parking lot.

WHY it exists: Some cars are built bigger than other cars and if the parking spot is not very big, the bigger car may end up using multiple spaces.

9. When people leave their toiletries in the shower of the dorm community bathroom.

WHY it exists: When someone is done in the shower they may not be able to carry all of their belongings with them when they leave. Then they might forget they left something behind.

10. When people are talking on their phone loudly in the grocery store

WHY it exists: When there is a lot of people in the store it can be very loud. When it is very loud and someone takes a phone call, they may naturally talk loudly while talking on the phone.

11. Some apartment /condo complexes allow small dogs but not big dogs

WHY it exists: There may be a misconception that big dogs are more loud and more destructive than a little dog.

12. When hot dogs come in packs of 8 and buns come in packs of 10

WHY it exists: Knowing that there is uneven of number of hot dogs and buns, there is more of an incentive for people to buy more of the products which is the grocery stores way of earning a little extra profit.

13. Not being able to connect an Amazon echo/google home on the school wifi

WHY it exists: The way the wifi is designed on campus, certain devices can not be registered to the network and receive internet connection.

14. The restaurants on campus close earlier on game days or game nights.

WHY it exists: The restaurants on campus close probably so that it forces people who want to watch games to go to the dining halls or go off campus. There is also probably a fear of the amount of alcohol that would be purchased or brought on campus if they were open.

15. There is limited parking for off campus students.

WHY it exists: There is limited space on campus for parking and all of the staff for the university need to be able to park near the buildings they work so naturally there is not very many parking spots for students. Some of those spots left for students are reserved for on campus students which creates even less spots for off-campus students.

16. Having exams at 8:30 p.m on school nights

WHY it exists: Some classes have too many students to allow the exams to be taken during class time. Times that students are in other classes or are at work is also considered, which results in exams taking place at night.

17. When shows with good ratings are cancelled

WHY it exists: The television channels cancel shows, even if some have good ratings, in order to add shows that may attract more viewers than the current shows.

18. When autocorrect on your phone changes what you type in a text message and you wanted to keep what you originally wrote.

WHY it exists: The autocorrect feature is built into most smartphones now and the way it is designed may cause it to think that something someone wrote was a mistake and needs to be “autocorrected” but in fact the way the text was written was intentional.

19. Pop ups that appear on devices.

WHY it exists: Pop ups are a result of businesses tracking what peoples’ searches are and advertising to people based on what they searched.

20. Being solicited on campus by non-campus organizations

WHY it exists: Certain sections of campus are open to the public for free speech. Sometimes this results in non-campus affiliated organizations coming on campus and soliciting students about various things.

Reflection:

This assignment was pretty challenging to complete. I have never to think of the different “bugs” in my day-to-day life so having to sit and think about it was something that was new for me. It was pretty challenging having to identify what in my life is a “bug” and what was not. Also, I have never had a time where I had to think as to why the “bug” exists. I can see how this becomes the entrepreneur mindset and why it works. Though it was a somewhat difficult task to complete, I really enjoyed this assignment.