1.) Closing more than 182 Toys 'R' Us stores shouldn't change Miami, Broward shopping - yet
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169AAC025933EF50?p=WORLDNEWS
This story is just basically describing that many Toys R Us's are closing down across the state. The story states that these stores aren't closing down in Miami just yet, but it could happen soon. It describes which stores in south Florida are closing and which ones may be in trouble in the near future.
The company is clearly in trouble and so an opportunity may arise for competitors to grab space in this market. The closing of the stores will affect anyone who does shopping at this chain and prefers it over stores like Wal-mart.
The problem affects any family with toddlers and elementary age children.
2.) The XFL is making a comeback. Could it impact Miami?
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8F5894D7FFA0?p=WORLDNEWS
This story describes a football league that actually failed, but the owners are attempting to bring back a new and improved form of this league. The owners want to " give football back to the fans", so their plan is to listen to suggestions and mold their league around what the fans want. Miami was not a part of the original league, but has a rich football history so it could be a consideration.
This attempt to bring back the XFL comes at a time that the NFL is taking a ton of criticism. People are boycotting the NFL and many others are complaining that the game is too slow, so the XFL is looking to fix these issues. South Florida is known for its football so someone could take advantage of the interest.
Anyone who no longer wants to watch the NFL, but loves football experiences the problem. Also, anyone who can't really afford to go to an NFL game may benefit from a team being in Miami.
3.)A Florida county will shut its schools after flu outbreak hits teachers and students
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169AABB4946AE208?p=WORLDNEWS
The country has experienced a huge flu outbreak that has lead to many deaths of children across the nation. After about 20% of a school district's students called out sick, the district decided to close its schools. Various other schools across the state of Florida have closed temporarily in order to be proactive.
The problem is that too many kids are catching the flu when exposed to large groups. Schools are having to close due to the lack of substitute teachers and bus drivers.
This problem affects literally anyone involved with the school system.
4.) Technology may take the work out of folding clothes, but I'm not done with laundry just yet
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169737D145E1D818?p=WORLDNEWS
The writer was doing laundry and described it as a very boring chore. She was wondering if there was any alternatives and was surprises to find out that there are many. But she was disappointed to see the price tags of these items and to learn that they wouldn't even do a lot of items that you would find in the laundry. So she hopes people continue doing their own laundry until something more practical comes out.
The problem is that there is no affordable solutions to doing your own laundry. There's not even any real fully functioning solutions. Most of them still have too many issues.
This problem affects anyone who hates doing laundry and is looking for an alternative.
5.) How will Florida's marijuana industry be affected by the change in federal policies?
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1693BFD44867BFA8?p=WORLDNEWS
This article outlines some of Attorney General Jeff Session's recent comments on the legalization of marijuana. The article says that some investors in the industry are nervous, but others don't think anything will change. More and more companies in Florida are getting medical marijuana licenses because of the large majority of votes in favor of it.
The problem is the uncertainty surrounding the legalization of marijuana with the Trump administration in office.
Anyone who is a user of medical or recreational marijuana will be affected.
Friday, January 26, 2018
Forming an Opportunity Belief
I believe that there is an opportunity to create a more environmentally friendly (biodegradable) form of gum.
This is an unmet need because gum litters sidewalks all over cities and often sticks to peoples shoes. Basically, all of society has this need because it will simply improve the cleanliness of cities and will no longer ruin people's days. This need has existed as long as gum has existed because there is always someone that will just throw it on the ground. Cities will usually hire people to clean up the sidewalks, so society has a reactionary response to meet this need. I want to make more of a precautionary response. I'm 90% sure this opportunity exists because I see it everyday. I am just unsure of the response this product will have or of the competition that will come up.
My customer is essentially any customer that chews gum and is interested in a more environmentally friendly product:
Customer 1: After being asked about the nature of the product, customer one notices that gum on sidewalks is a problem and is unaware of any other product solutions. The customer has only really experienced this need when getting gum stuck on his shoe, which doesn't happen all that often. He believes the need has been there as long as he can remember because he's gotten gum on his shoes for that long. He is somewhat satisfied with this solution because it will solve the problem of having tons of gum on the sidewalks, but fresh gum that has just been thrown away can still cause the same issue of sticking on to shoes.
Customer 2: Customer 2 believed more strongly in the nature of the product than customer 1. Customer 2 says he has become aware of the need whenever walking around any densely populated area. He experiences the need a lot more often because he's more concerned with the aesthetic of the city. But he, of course, also hates getting gum on his shoe. He doesn't really do anything to address the need because cities will usually clean up the streets every so often. Otherwise, nothing is done about it. He believes I have a solid solution, but thinks it should be improved to not be so sticky.
Customer 3: After interviewing customer 3, I'd say she was more like customer 1. She saw a need for the product after I pointed it out, but didn't really think much about it before. She said that gum on the sidewalks doesn't really affect her, but every once in a while she does get gum on her shoes. She can't remember the exact time she discovered the problem, but it was a long time ago. She currently addresses the need just by cleaning her shoes after gum gets on them. She thinks it's a solid solution, but nothing revolutionary.
I learned that this issue doesn't bother everyone as much as it bothers me. Some people do share similar beliefs, but others just don't see it as a huge issue that needs fixing. The people that share my beliefs are usually more concerned with the look of having gum all over sidewalks. I would say the results were pretty surprising because it is such a pet peeve of mine.
Probably a little less than half of my opportunity is still there because just not that many people really care about gum being all over sidewalks. A lot of people only really care when it directly affects them by sticking on their shoes, which does not happen all that often. The new opportunity would be some sort of biodegradable, non-sticking, which covers more of the market.
It is definitely crucial for entrepreneurs to listen to the people in order to understand to what extent their market exists. They should mold their ideas to customer feedback, but should also be careful about constantly changing their product based off of feedback because you can't possibly please everyone and you need to maintain an identity. So it's not always worth constantly spending money to change the product.
This is an unmet need because gum litters sidewalks all over cities and often sticks to peoples shoes. Basically, all of society has this need because it will simply improve the cleanliness of cities and will no longer ruin people's days. This need has existed as long as gum has existed because there is always someone that will just throw it on the ground. Cities will usually hire people to clean up the sidewalks, so society has a reactionary response to meet this need. I want to make more of a precautionary response. I'm 90% sure this opportunity exists because I see it everyday. I am just unsure of the response this product will have or of the competition that will come up.
My customer is essentially any customer that chews gum and is interested in a more environmentally friendly product:
Customer 1: After being asked about the nature of the product, customer one notices that gum on sidewalks is a problem and is unaware of any other product solutions. The customer has only really experienced this need when getting gum stuck on his shoe, which doesn't happen all that often. He believes the need has been there as long as he can remember because he's gotten gum on his shoes for that long. He is somewhat satisfied with this solution because it will solve the problem of having tons of gum on the sidewalks, but fresh gum that has just been thrown away can still cause the same issue of sticking on to shoes.
Customer 2: Customer 2 believed more strongly in the nature of the product than customer 1. Customer 2 says he has become aware of the need whenever walking around any densely populated area. He experiences the need a lot more often because he's more concerned with the aesthetic of the city. But he, of course, also hates getting gum on his shoe. He doesn't really do anything to address the need because cities will usually clean up the streets every so often. Otherwise, nothing is done about it. He believes I have a solid solution, but thinks it should be improved to not be so sticky.
Customer 3: After interviewing customer 3, I'd say she was more like customer 1. She saw a need for the product after I pointed it out, but didn't really think much about it before. She said that gum on the sidewalks doesn't really affect her, but every once in a while she does get gum on her shoes. She can't remember the exact time she discovered the problem, but it was a long time ago. She currently addresses the need just by cleaning her shoes after gum gets on them. She thinks it's a solid solution, but nothing revolutionary.
I learned that this issue doesn't bother everyone as much as it bothers me. Some people do share similar beliefs, but others just don't see it as a huge issue that needs fixing. The people that share my beliefs are usually more concerned with the look of having gum all over sidewalks. I would say the results were pretty surprising because it is such a pet peeve of mine.
Probably a little less than half of my opportunity is still there because just not that many people really care about gum being all over sidewalks. A lot of people only really care when it directly affects them by sticking on their shoes, which does not happen all that often. The new opportunity would be some sort of biodegradable, non-sticking, which covers more of the market.
It is definitely crucial for entrepreneurs to listen to the people in order to understand to what extent their market exists. They should mold their ideas to customer feedback, but should also be careful about constantly changing their product based off of feedback because you can't possibly please everyone and you need to maintain an identity. So it's not always worth constantly spending money to change the product.
Friday, January 19, 2018
My Entrepreneurship Story
Back when I was in the 8th grade, my English teacher tasked us with creating a community service project. My friend, Michael, and I partnered up for this project. After some brain storming, we decided we wanted to create a project to benefit the humane society. So we created a bake sale event that would have all proceeds go towards the Humane Society. Throughout the weeks prior to the event, we put up advertisements at local supermarkets to try to draw in the largest crowd possible. It was an interesting project and I learned a lot, but it was also very difficult.
I enrolled in ENT 3003 because I'm looking to possibly pick up a minor in entrepreneurship. The concept of being my own boss seems extremely appealing because I can create my own schedule and control my own success. My goals for this class are mainly to help develop the skills I need to create my own business. I'm sort of confused about the process of actually becoming an entrepreneur, so I'm hoping to gain some clarity. I am also looking to inspire some creativity and how to think of solutions to common problems.
I enrolled in ENT 3003 because I'm looking to possibly pick up a minor in entrepreneurship. The concept of being my own boss seems extremely appealing because I can create my own schedule and control my own success. My goals for this class are mainly to help develop the skills I need to create my own business. I'm sort of confused about the process of actually becoming an entrepreneur, so I'm hoping to gain some clarity. I am also looking to inspire some creativity and how to think of solutions to common problems.
Bug List
1. Why does my sink always clog when I shave?
Because the hair is gathering in the clog and not allowing the water to drain
2. Why do I always seem to get gum on my shoe?
Because gum doesn't deteriorate and a lot of people throw it on the ground
3. Why can't I ever find the TV remote?
Because it's not placed in the same place or the dog knocks it off the couch
4. Why does my phone battery get exponentially worse through time?
Because the cells are going bad and the company probably wants me to buy a new one
5. Why do my tires sometimes go flat in the cold?
Because the cold slows down air particles, which decreases pressure
6. Why do I lose my golf balls so easily even though they're just laying in the grass?
Because the balls are sometimes too reflective
7. Why does the traffic on Archer Road get so terrible after 5 P.M.?
Because it is one of the only major roads that leads to the highway
8. Why do my shoe laces untie so easily?
Because there may not be enough friction keeping them from pulling
9. Why is movie theater food so expensive?
Because there is no competition for food within the theater
10. Why do I always lose socks in the wash?
Because they must some how slip through cracks in the machine
11. Why does a Big Mac middle bun always fall out the back side?
I'm guessing because the sauce is slippery
12. Why does my wallet fall out of my sweat pants' pocket whenever I sit down?
Because there's nothing stopping it from sliding out and the pockets are too small
13. Why does my phone or wallet always fall under the seat of my car?
Probably because they're able to fall out of my pocket and there's nothing stopping them
14. Why are there so many Wifi dead spots in my house?
Because the box isn't strong enough to reach some areas
15. Why does Snapchat take up so much battery?
Because there's something about the combination of using the camera and internet that kills battery
16. Why are lines at Midtown so long?
Because the buildings and spaces aren't being utilized efficiently
17. Why do paper plates always stick together?
Because of their packaging and material
18. Why does sliced bread get moldy so quickly?
Because the packaging doesn't help preserve it long enough
19. Why do ceiling panels make such a big mess when you move them?
Because the material is so brittle
20. Why do hats increase hair loss?
Because they tire out the hair follicles
Creating my list of bugs was definitely challenging, but it always got easier when I ran into problems that reminded me of other problems that irritate me. Sometimes it was difficult to come up with a bug that had a justified reason for existence. So it was difficult to think of bugs that might have business solutions behind them. Like stated in the video, the first few were much easier to think of because they were so obvious to me. I think it is good that I was able to come up with a list that had a wide variety of bugs.
Because the hair is gathering in the clog and not allowing the water to drain
2. Why do I always seem to get gum on my shoe?
Because gum doesn't deteriorate and a lot of people throw it on the ground
3. Why can't I ever find the TV remote?
Because it's not placed in the same place or the dog knocks it off the couch
4. Why does my phone battery get exponentially worse through time?
Because the cells are going bad and the company probably wants me to buy a new one
5. Why do my tires sometimes go flat in the cold?
Because the cold slows down air particles, which decreases pressure
6. Why do I lose my golf balls so easily even though they're just laying in the grass?
Because the balls are sometimes too reflective
7. Why does the traffic on Archer Road get so terrible after 5 P.M.?
Because it is one of the only major roads that leads to the highway
8. Why do my shoe laces untie so easily?
Because there may not be enough friction keeping them from pulling
9. Why is movie theater food so expensive?
Because there is no competition for food within the theater
10. Why do I always lose socks in the wash?
Because they must some how slip through cracks in the machine
11. Why does a Big Mac middle bun always fall out the back side?
I'm guessing because the sauce is slippery
12. Why does my wallet fall out of my sweat pants' pocket whenever I sit down?
Because there's nothing stopping it from sliding out and the pockets are too small
13. Why does my phone or wallet always fall under the seat of my car?
Probably because they're able to fall out of my pocket and there's nothing stopping them
14. Why are there so many Wifi dead spots in my house?
Because the box isn't strong enough to reach some areas
15. Why does Snapchat take up so much battery?
Because there's something about the combination of using the camera and internet that kills battery
16. Why are lines at Midtown so long?
Because the buildings and spaces aren't being utilized efficiently
17. Why do paper plates always stick together?
Because of their packaging and material
18. Why does sliced bread get moldy so quickly?
Because the packaging doesn't help preserve it long enough
19. Why do ceiling panels make such a big mess when you move them?
Because the material is so brittle
20. Why do hats increase hair loss?
Because they tire out the hair follicles
Creating my list of bugs was definitely challenging, but it always got easier when I ran into problems that reminded me of other problems that irritate me. Sometimes it was difficult to come up with a bug that had a justified reason for existence. So it was difficult to think of bugs that might have business solutions behind them. Like stated in the video, the first few were much easier to think of because they were so obvious to me. I think it is good that I was able to come up with a list that had a wide variety of bugs.
Wednesday, January 17, 2018
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