6A - Identifying Opportunities in Economic and Regulatory Trends

• Economic Trend: U.S. production shift to Mexico


• Link: https://www.forbes.com/sites/forbeslacouncil/2018/12/14/19-trends-that-will-shape-the-world-in-2019/#5a44f3fc3b45


• Opportunity: Companies can save money in production by outsourcing to Mexico
• Customer: All customers of companies willing to outsource to Mexico. 
• Difficulty: Medium-High. This would mean shutting down production for companies who produce in the U.S.. However it would save money so the effort would be motivated I'm sure.
• Why: I've recently been trying to figure out my stance on U.S.A production vs. outsourcing to other countries, so this was an interesting read for me.
• Economic Trend: Costco growth.
• Link: https://www.ibtimes.com/costco-keeps-delivering-solid-growth-2796795
• Opportunity: Businesses could look to sell in Costco to take advantage of this growth and reach a new market. This is also good for customers because this sales demand allows Costco customers to have access to new and different products.
• Customer: All Costco customers.
• Difficulty: Depends on Costco's process of accepting new customers! Probably not too difficult because it is just getting into a new distribution channel. 
• Why: I frequent Costco often, so this caught my eye.
• Regulatory Change: 5% Tariffs on Mexican Imports
• Link: Trump Imposes 5% Tariffs On All Mexico Imports Starting June 10
• Opportunity: Production of goods in the U.S. that are typically Mexican imports.
• Customer: Previous customers of the imported goods.
• Difficulty: It would be difficult to produce at a cost low enough to compete with Mexican imports even with the tariff.
• Why did I see this opportunity: I have been closely watching the Mexico tariff story so this was especially interesting to me!
• Regulatory Change: Heartbeat Law
• Link: Louisiana Governor Signs 'Heartbeat' Bill Into Law
• Opportunity: Increase in birth control awareness and sales now that women are more scared of getting pregnant than ever. 
• Customer: Women in the United States. 
• Difficulty: Not difficult. This would just be using this unfortunate circumstance and restriction on women's rights to promote birth prevention measures while women are more aware than ever of the risk. This would definitely increase sales. 
• Why: This is a very important social topic to me, so it was interesting to think of the effects this would have on business as well. 

5A - Identifying Local Opportunities

1. "The Fight Against Red Tide" - The Sarasota Observer

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFSOB%21Sarasota%2BObserver%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0411%21April%2B11&f=advanced&action=browse&format=text&docref=news/17309764D1B445B8
• Joe Bruno, a Sarasota resident, became fed up with the local red tide epidemic and decided to take matters into his own hands to make a difference. Bruno decided to join the group 'Hands Along the Water', a local group that lobbies for governmental action in response to red tide. Bruno has been speaking at local government events and asking others to join in on the cause. A local Aquarium, Mote Marine, is receiving funds to research and find solutions to the red tide.
• Sarasota is facing a long and harsh spell of red tide, affecting daily lives for residents of the area, beach access, and tourism rates. 
• All Sarasota residents and visitors near the ocean. 

2. "City Works on Recycling Education" - The Sarasota Observer

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFSOB%21Sarasota%2BObserver%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0411%21April%2B11&f=advanced&action=browse&format=text&docref=news/17309764D0A75DE0
• The city's public works general manager, Todd Kucharski, appeared at the Coalition of City Neighborhood Association meeting to raise awareness for recycling and the new system in Sarasota. Sarasota county has officially cancelled its contract with Waste Pro and has taken recycling for the city into their own hands. This allows residents to dispose of all recyclable materials in one bin. Kucharski and his colleague made a presentation on how to dispose of your recyclables and also how to reuse recyclable materials.
• There has been multiple changes in the county's recycling management and Sarasota residents need to be educated on the new system.
• Sarasota residents who recycle.

3. "St. Armands Leaders Monitor Paid Parking" - The Sarasota Observer

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFSOB%21Sarasota%2BObserver%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0328%21March%2B28&f=advanced&action=browse&format=text&docref=news/17293636C74A93C0
• Gavin Meshad, chairman of the St. Armands Business Improvement District noticed that it may not be clear that parking must be paid for in the area. He brought this up to the Parking Manager, Mark Lyons. Lyons stated that they are working on putting up more signs but he is open to further suggestions. 
• St. Armands' leaders worry that it is apparent that you must pay to park and not all people are paying.
• St. Armands' leaders and the county missing out on money. 

4. "Schools PD Plans to Expand for 2019-20" - The Sarasota Observer

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFSOB%21Sarasota%2BObserver%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0328%21March%2B28&sort=YMD_date%3AD&maxresults=20&f=advanced&format=text&val-base-0=&fld-base-0=alltext&bln-base-1=and&val-base-1=0-499&fld-base-1=wct&docref=news/17293636C1026470
• At the recent Sarasota County School Board Workshop, it was announced that the Sarasota County Schools Police Department would be taking over for all school resource officers in the county public schools. Also, in response to the increasing number of students, the SCSPD is planning to add 23 additional officers by next school year.
• There are concerns about the safety in Sarasota Schools, causing the need for the Sarasota Schools Police Department to expand and take a more prominent role in public schools.
• School parents, students, faculty, and other Sarasota citizens with a concern for school and student safety.

5. "Volunteers Leave City Island A Little Cleaner" - The Sarasota Observer

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFSOB%21Sarasota%2BObserver%252C%2BThe%2B%2528FL%2529/year%3A2019%212019&sort=YMD_date%3AD&page=1&maxresults=20&f=advanced&format=text&val-base-0=&fld-base-0=alltext&bln-base-1=and&val-base-1=0-499&fld-base-1=wct&docref=news/171F10E455E23028
• Interns at Mote Marine Laboratory and their friends went to City Island to pick up trash. They ended up with around 150 pounds of trash, litter, abandoned beach toys, and more.
• City Island pollution and trash.
• Everyone who visits city island and all the sea animals in the area.

4A - Forming an Opportunity Belief: A Twist on Opportunity Identification

I believe that there is an unmet need for an affordable, high-quality haircare brand. From skincare to cosmetics, high-quality, low cost brands are popping up everywhere. With Fourth Ray Beauty for skincare and brands like Colourpop Cosmetics and Morphe for cosmetics, consumers are becoming aware that good products can exist at lower prices. Everyone has the need for haircare products, from shampoo to dandruff control to hair masks. This need has always existed, but the demand is becoming higher now as more consumers are aware that a high-quality, affordable haircare brand is possible. Currently, haircare consumers are either paying enormous prices for high-quality products or are using low-quality, damaging products on their hair because they can't afford or wont pay the high prices. With the way that consumers are responding to other beauty brands in similar markets, I believe that this opportunity 100% exists. 

1) 21 year old, Female with an interest in beauty products and a willingness to pay a high price for quality products.

• How important is haircare to you on a scale from 1-10?
• I would say about a 9.
• What haircare product types do you currently use?
• I use shampoo, conditioner, deep conditioner, hair masks, and hair oil.
• How much do you spend on your haircare products currently?
• I spend between $15-20 on each product. 
• Did you know that most drugstore haircare products contain ingredients that actually cause damage to your hair?
• Yes! That is why I never buy drugstore and am willing to spend more on good products.
• How much would you be willing to spend on a high quality shampoo, for instance?
• I would spend at most $25 on a high quality shampoo that is standard size. 
• Would you be interested in a high-quality, low cost haircare brand?
• Absolutely! 

Reflection: I learned that, if this surveyor is representative of her demographic, 20-something young women with an existing interest in haircare would be a great market for this brand and are very interested in this type of product line! I was surprised at how much she is currently paying and is willing to pay for haircare products.

2) 22 year old female with not much interest in beauty or haircare.

• How important is haircare to you on a scale from 1-10?
• Probably a 5. I don't put a lot of effort into my haircare.
• What haircare product types do you currently use?
• Just shampoo and conditioner.
• How much do you spend on your haircare products currently?
• I spend somewhere around 5 or 6 dollars on my shampoo/conditioner.
• Did you know that most drugstore haircare products contain ingredients that actually cause damage to your hair?
• No! I mean I assumed I wouldn't be getting the really good, fancy ingredients but I didn't know there was bad stuff in them!
• How much would you be willing to spend on a high quality shampoo, for instance?
• Probably no more than $10 a bottle. 
• Would you be interested in a high-quality, low cost haircare brand?
• Yeah totally! If I could get better stuff for the same price I'm paying now then that would be really great.

Reflection: It was interesting to see that someone who doesn't care much about haircare would be willing to change their products, because there is still a question of effort of change and convenience of current products. 

3) 25 year old male with no interest in haircare

• How important is haircare to you on a scale from 1-10?
• 1-2.
• What haircare product types do you currently use?
• A 2-in-1 shampoo and conditioner combo.
• How much do you spend on your haircare products currently?
• I think mine is $4.
• Did you know that most drugstore haircare products contain ingredients that actually cause damage to your hair?
• Oh, no I didn't know that.
• How much would you be willing to spend on a high quality shampoo, for instance?
• Maybe around $6 at the most.
• Would you be interested in a high-quality, low cost haircare brand?
• I guess I would if I heard it was better than what I'm using now. As long as I could get it at the grocery store where I get mine now, but I'd still not be willing to pay more than like $6. My hair is short so if it gets damaged then I don't really care because it'll grow out; I just care that my hair gets cleaned.

Reflection: It seems like men with not much haircare interest maybe wouldn't be the best market. It is good to know that maybe men care more about clean hair than healthy hair.

Summarize.

How much of your original opportunity is still there? I believe that the whole opportunity is still there! I think that this is a win for all consumers. While the business model would be difficult, I think that there is an unmet need for a very large market.

Do you believe that your new opportunity is more accurate than when you started? Yes! It was nice to get input from people other than myself and to also get actual numbers on what people pay now and what people would be willing to pay.

I believe that entrepreneurs should be responsive to customer feedback in making their product as useful as possible but should be cautious of making too many changes and should be responsive to the most important or most demanded changes first. Also, some changes cost more than they give back, so entrepreneurs should weigh the benefits versus the costs of all changes.

3A - Your Entrepreneurship Story

My father is an entrepreneur and has his own engineering business! I have been surrounded by him, his business, and his entrepreneurial mindset my whole life! He is my role model and best friend.
Here is a photo of me and my dad.

I signed up for ENT3003 because I needed an upper division elective credit! While I could have taken an easy 2 credit course that had nothing to do with me, I decided to take ENT3003 because I had heard amazing things about the class, the professor, and have a desire to learn about what it takes to be an entrepreneur!

2A - Bug List

Assignment 2A - Bug List

1. When I see people chew with their mouth open while I am also eating. 
1. WHY it exists: This is very gross to watch and often causes me to lose my appetite, resulting in me not being able to enjoy or even finish my meal.
2. When people park in more than one parking spot or park on/over the line in a parking spot next to an open spot when I am trying to park my car as well in a packed lot. 
1. WHY it exists: This makes it extremely difficult for me or impossible for me to park my own car because someone wasn't considerate of others when parking their own. 
3. When people go less than 70 MPH in the left lane of the highway. 
1. WHY it exists: This completely negates the benefits of a 'fast lane' causing people to have to use the middle lane when trying to go faster than the middle lane traffic and/or causing drivers to have to pass on the right hand side of a car/truck which is dangerous. 
4. When my roommates leave a pan dirty that I need to use to cook for myself. 
1. WHY it exists: This has happened to everyone. When the specific pan you need is dirty and you can't cook what you need. Perhaps I'm cooking a large amount of pasta and this is the only pot big enough to fit everything. This bug exists because I either have to clean this pot/pan myself or use another pan that isn't the best option or cook something else entirely because someone else was not being considerate of a shared space/tool.
5. When someone uses something of mine and finishes it without telling me so that I am no longer able to use it.
1. WHY it exists: While I don't mind people borrowing things from me or using some of my stuff, I do mind when this affects my ability to use my own belongings. If someone borrows some milk, let's say, when the jug is full, I don't mind because there is still enough for me to use. However when someone finishes the milk and leaves me with nothing without letting me know, then I am going into the fridge or going to make something and not able to use the item I bought anymore and was not given notice to replace it before I needed to use it again. 
6. When I want ice cream and the McDonald's Ice Cream Machine is broken.
1. WHY it exists: This bug exists because I put in the whole effort to get up, drive to McDonalds, make my order, and then am told that my order cannot be completed and I wasted my time. 
7. When my groceries expire before the 'Best By:' date.
1. WHY it exists: When I grocery shop, I plan my meals for the week. If I purchase some chicken that says it will be good until Friday, I will plan to use it on Wednesday. When I open the package on Wednesday and find the chicken is already spoiled, this ruins my whole meal plan for the week. 
8. When my gel nail polish chips before 3 weeks has passed. 
1. WHY it exists: Gel polish is guaranteed to last 3 weeks. I am spending extra money for polish that will last this long. If my polish chips before then, then I am wasting my money and time on gel polish over regular polish and the company is also breaking their guarantee. This means I will now have to spend more money and time than originally anticipated getting my nails re-done.
9. When my iPhone charger breaks.
1. WHY it exists: I spend a lot of money on Apple Certified chargers. If these products are so expensive, I should expect them to last and be of quality materials. When my charger breaks after a few months, I am upset to have to spend more money on another expensive charger that I do not expect to last. While I would buy a cheap charger, I cannot justify risking it short circuiting my phone and breaking my warranty. So I must spend money on expensive chargers that will break eventually, but won't break my phone.
10. When people are intentionally loud in designated study spaces.
1. WHY it exists: This affects my ability to study. I am in a space specifically designated for studying and when people are loud, on the phone, or laughing, they are not studying. This disrupts my studying and lowers my quality of study, and instead of studying, I am forced to confront a stranger and create conflict or find a new study space. This puts me in an uncomfortable situation when I was in my right studying in a study space.
11. When teachers provide practice exams that are nothing like the actual exam and contain completely different material.
1. WHY it exists: This is a waste of my time. I am spending my study time and energy practicing on an exam that is nothing like what I should be preparing for. This also makes me feel that I need to prepare for what is on the practice exam, shifting my focus from the material that will actually be on the exam. No practice exam is better than a misleading practice exam.
12. When my COX wifi is bad but COX has a monopoly is Gainesville so I have no other option for my wifi provider.
1. WHY it exists: I have to spend my hard earned money on bad wifi because I have no other option. No other reason needed.
13. When Word crashes and all of my work gets deleted.
1. WHY it exists: Putting so much effort into a document and then all because of a computer glitch and a lack of saving every so often, it all gets erased. This is especially awful when it is very close to a deadline. 
14. That there is only one type of honk on a car.
1. WHY it exists: There are many different needs to honk, both nice and mean: letting someone know their taillight is out, when someone does something dangerous, etc. However, there is only one type of honk. There are times that I don't want to honk at someone to let them know that their taillight is out or their gas cap is open, because I worry they will hear a loud, threatening honk and assume I mean something negative.
15. When the whole plot of a movie is shown in the trailer.
1. WHY it exists: This ruins the movie for me. While a movie may look good, it makes it difficult to want to see and spend my money a movie when I already know what is going to happen. 
16. When people CC me on emails that have nothing to do with me.
1. WHY it exists: This wastes my time and takes my attention away from work that actually needs my attention. 
17. When teachers' give busy work to build points in the class rather than providing real work that will help me learn the material. 
1. WHY it exists: This is wasting the time that I could be using to study and learn the actual material in the class.
18. When people do not wipe down gym equipment after using them. 
1. WHY it exists: People are lazy and inconsiderate of others' needs.
19. When the grocery store is out of stock on the one thing I came there for.
1. WHY it exists: An incorrect judge of demand or a lack of restocking the shelves. 
20. Insane lines for female restrooms at bars and clubs in comparison to the mens' line.
1. WHY it exists: A lack of gender neutral bathrooms and the increased amount of time women need to use the restroom/reapply makeup/etc.

REFLECTION: The beginning of this assignment was not difficult. However, after about #7, it was hard to find bugs. I felt that I was running out of things that actually bother me and finding random one or two time occurrences.

Tester

Tester