Friday, April 20, 2018
28A - Your Exit Strategy
Eventually, all businesses must come to a close. This time can be within a few weeks of opening, or even after a few hundred years. Yet, many times this can come down to the discretion of the business owner, and how long they plan on staying in the field. I would like to make as much money as I could in five to ten years, and then hopefully sell my company to another large business. After this, I would then be able to relax and live off of my profits for a little, before pursuing another passion. I would choose this because it would allow for me to constantly shift fields, and thus go through the process of opening a business from the ground up several times. This has influenced my other plans within this business. I had always had the intention of selling my company relatively soon after opening, and because of this, I aimed to pursue quick growth strategies. This has also forced me to only identify and go after short-term opportunities.
30A - Final Reflection
There have been many moments this semester that have caused joy and other moments that have caused dread. Some of the notable moments that have been memorable in good ways have been those 'a-ha' feelings during assignments when the lesson truly connects and the meaning becomes cemented. The times that have caused angst have been when logging onto canvas and seeing three or four big assignments due. The thing that sticks out that will be something I will remember years down the road is when I began to think like an entrepreneur earlier this semester. I had never considered the many aspects that went into owning and running a successful enterprise. Because of this, while I would not consider myself an entrepreneur, I would consider myself more so of one than when this class started. One recommendation I would say to future students would be to get ahead and to start all of their assignments on time. This makes the class much easier and less stressful, especially when dealing with the workloads of other classes. To foster this mindset, one must view all assignments and projects as positives and as a learning experience.
Friday, April 13, 2018
Reading Reflection No. 3
The book that I have chosen to read for this part of the semester is 'The Long Tail: Why the Future of Business is Selling Less of More' by Chris Anderson. Overall, I thoroughly enjoyed the reading of the book and the overall lessons that it entailed. The point of the book is that in the future, blockbusters will not be the primary driving point of profits for any large industry. Anderson argues that with so much information available nowadays, people will go further and further down lists in order to find the perfect book, movie, or product that suits their preference. Because of this, while demand may not be large for some of these smaller name products, it will never be non-existent and the demand will only increase in the future. The book connected with what I've learned so far in this class in the fact that you do not need to develop a massive life-changing product in order to make a profit. It proved that a product can still turn a profit even if it is in low demand. An exercise for this class based off of this book would be to have each student think of ten products or services that would not be massive, but would simply be complementary to people's lifestyles. The biggest 'a-ha' moment of this book was when Anderson talked about how when people get access to more information, that they will continually search for products farther and farther for the mainstream. I had never thought of this, and it makes sense considering the technology boom of the past decade since people do not have to settle only for products that are popular.
26A - Celebrating Failure
One memorable time this semester in which I failed is when myself and my roommates had to move apartments. Our apartment complex was doing a renovation so, at some point throughout the year, each individual apartment would have to move out to allow for the renovations to happen. During this, I tried to find a way to move all of my items faster to ensure a quicker and easier move. While doing this, I tried to improvise new ways and devices of carrying large objects, such as making baskets and containers out of items that were not designed to do this. Doing this however wasted a ton of time, and during the first trip while moving the bottom of the first 'basket' fell out and all of my items were strewn across the lawn. However, I still kept trying to figure out ways to help me move, and none of them worked to the extent that I hoped. I learned that sometimes it is easier to not try and find shortcuts and to just put your head down and get the task done. Failure can be hard at times, but it is always an opportunity to learn from. Failure can show the flaws in the plan that was developed, and how to make it better the next time. This class has shown to me that failure is not necessarily the worst outcome. While success is always the best course, failure can also show flaws in the mindset going into the activity, and it can also be a roadmap to success the next time.
Friday, April 6, 2018
25A - What's Next?
Existing Market
For this step of the assignment, I interviewed my three friends Robby, Declan, and Raina.
I talked to them about the next step for my venture, which would be to expand into the action sports world and provide a shoe cleaning product for items such as snowboarding boots. Robby and Raina are big into action sports such as snowboarding and wakeboarding and thought that this would be a good path to take. However, Declan is not as big into this and thought the best next route to take would be to use a similar idea on clothing items. He was envisioning a quick stain cleaner or something of that sort in case clothes get dirty, either out while camping or such, or while at something as trivial as a family party.
I believe that a combination of both of these feedbacks would be the best possible route for my company. This growth would essentially go into all areas of clothing, and would thus encompass a much larger market. The product would then be a fit for anyone, and of all lifestyles rather than those who are more active than others. There would be an item for everyday use, an item for those who are into action sports, and even the casual person who might want to clean a mark on their suit on the way to a business meeting.
This would also keep the appeal of being a cheap product made for people on the go. There would need to be some adjustments to make sure that each product is safe to use on the materials that it would be used on, however, I do not believe this would be a major factor. It would be pretty much the same idea as the shoe cleaning service, but it would be spread to all apparel items that could become dirty.
New Market
A market that is radically different from the one that I'm currently pursuing would be senior citizens. While the elderly are not as active as younger people, they typically do not like change and like for things to like neat. Because of this, they would be able to use the cleaning product on all of their clothes and shoes and use them for extremely long periods of time, or until they break. For this, I interviewed both of my grandparents on my dad's side of the family. They said they could see themselves using the product on their clothes and shoes, but said that they would struggle to see the extremely elderly ever using it since it does require some physical energy. They also said that since they are not as active as a thirty-year-old, they would only infrequently need to purchase this.
I did have some interesting findings from interviewing my grandparents. I was relatively surprised that they said they would use the product and could see others their age using it as well. This is relatively what I thought they would say, as most people would at least like to own a product that is capable of quickly cleaning stains and blemishes on clothing articles.
However, I was also correct in thinking that this would be a relatively small market. I find it hard to believe that many senior citizens would be purchasing this product, and my interviewees saying that they would be infrequent buyers affirms this belief. Because of this, this market is not as desirable as the original market of 20-30-year-old active citizens. Despite this, it did prove to me that there is at least a little market for those who are older.
For this step of the assignment, I interviewed my three friends Robby, Declan, and Raina.
I talked to them about the next step for my venture, which would be to expand into the action sports world and provide a shoe cleaning product for items such as snowboarding boots. Robby and Raina are big into action sports such as snowboarding and wakeboarding and thought that this would be a good path to take. However, Declan is not as big into this and thought the best next route to take would be to use a similar idea on clothing items. He was envisioning a quick stain cleaner or something of that sort in case clothes get dirty, either out while camping or such, or while at something as trivial as a family party.
I believe that a combination of both of these feedbacks would be the best possible route for my company. This growth would essentially go into all areas of clothing, and would thus encompass a much larger market. The product would then be a fit for anyone, and of all lifestyles rather than those who are more active than others. There would be an item for everyday use, an item for those who are into action sports, and even the casual person who might want to clean a mark on their suit on the way to a business meeting.
This would also keep the appeal of being a cheap product made for people on the go. There would need to be some adjustments to make sure that each product is safe to use on the materials that it would be used on, however, I do not believe this would be a major factor. It would be pretty much the same idea as the shoe cleaning service, but it would be spread to all apparel items that could become dirty.
New Market
A market that is radically different from the one that I'm currently pursuing would be senior citizens. While the elderly are not as active as younger people, they typically do not like change and like for things to like neat. Because of this, they would be able to use the cleaning product on all of their clothes and shoes and use them for extremely long periods of time, or until they break. For this, I interviewed both of my grandparents on my dad's side of the family. They said they could see themselves using the product on their clothes and shoes, but said that they would struggle to see the extremely elderly ever using it since it does require some physical energy. They also said that since they are not as active as a thirty-year-old, they would only infrequently need to purchase this.
I did have some interesting findings from interviewing my grandparents. I was relatively surprised that they said they would use the product and could see others their age using it as well. This is relatively what I thought they would say, as most people would at least like to own a product that is capable of quickly cleaning stains and blemishes on clothing articles.
However, I was also correct in thinking that this would be a relatively small market. I find it hard to believe that many senior citizens would be purchasing this product, and my interviewees saying that they would be infrequent buyers affirms this belief. Because of this, this market is not as desirable as the original market of 20-30-year-old active citizens. Despite this, it did prove to me that there is at least a little market for those who are older.
24A - Venture Concept No.1
The Opportunity
1) The people who have the need would be anyone who has dirty shoes that wants them cleaned. The target segment is active, college-aged students or post-college adults.
2) The nature of the need is that shoes tend to only last for short amounts of time looking new, and then get dirty and the product is devalued. This greatly negates value from an item that was recently purchased.
The force creating this opportunity is that life is unpredictable and thus materials are bound to get dirty. The market would be all over the country but would be most popular in warm weather regions where people can get out and exercise all year. This product would apply to all ages since everyone moves around at some point during the day, but college kids and those directly out of college tend to be more active than other age groups. Customers are currently either not satisfying this need at all and are letting their shoes stay dirty, or they are using time-consuming home methods that can be costly as well. The opportunity is relatively big, as I believe a decent population would be interested in a quick and cheap shoe cleaning product. However, there is a sizable population that would not care enough to purchase this. The window of opportunity will be open for as long as people go outside and are active, or place themselves in dirty environments.
Innovation
I would define my product as only incrementally innovative, as it is nothing radical since it is a cleaning product. My product is a spray that you apply to dirty shoes. It would then be left to sit for a couple minutes, and then rubbed in with a damp paper towel. After these become dry, the shoe would look like its original version again. It would be sold in cans at various shoe stores or sporting goods stores across the country. I would aim to sell this product for approximately $10, and this product would be able to be used multiple times. For example, each can would have the capacity to clean roughly 20 pairs of shoes before becoming empty.
Venture Concept
My product will solve the unmet need because it will make dirty shoes clean once again in a quick and easy process. There are not currently any other big name products that do this service, so thus it will not require anyone to switch over to my product. The distribution of this product will be a major point of emphasis for the product. Ideally, this product would be placed either next to all the shoes, or it would be sold at the counter. People probably would not go out specifically to buy my product, but when buying new shoes would deem it acceptable to buy my product as a complementary good that would help elongate the life of their new purchase. I would organize my business as a small setup with roughly twenty people that would be able to handle the day to day dealings with the company, and who also have a similar passion.
1) The biggest resource that my company has is that the need will always be there. There will never be a world in which people will never have their shoes get dirty through outdoor activities or just walking around.
2) The next venture would be to move into the world of action sports, possibly selling a similar item to people who want to keep their snowboarding boots clean, or who use specialty shoes to hike, etc.
3) In five years, I would ideally see this company being something more as a side business that is also profitable. This way would ensure that I can enjoy the process of the business world and can be happy while operating the venture.
1) The people who have the need would be anyone who has dirty shoes that wants them cleaned. The target segment is active, college-aged students or post-college adults.
2) The nature of the need is that shoes tend to only last for short amounts of time looking new, and then get dirty and the product is devalued. This greatly negates value from an item that was recently purchased.
The force creating this opportunity is that life is unpredictable and thus materials are bound to get dirty. The market would be all over the country but would be most popular in warm weather regions where people can get out and exercise all year. This product would apply to all ages since everyone moves around at some point during the day, but college kids and those directly out of college tend to be more active than other age groups. Customers are currently either not satisfying this need at all and are letting their shoes stay dirty, or they are using time-consuming home methods that can be costly as well. The opportunity is relatively big, as I believe a decent population would be interested in a quick and cheap shoe cleaning product. However, there is a sizable population that would not care enough to purchase this. The window of opportunity will be open for as long as people go outside and are active, or place themselves in dirty environments.
Innovation
I would define my product as only incrementally innovative, as it is nothing radical since it is a cleaning product. My product is a spray that you apply to dirty shoes. It would then be left to sit for a couple minutes, and then rubbed in with a damp paper towel. After these become dry, the shoe would look like its original version again. It would be sold in cans at various shoe stores or sporting goods stores across the country. I would aim to sell this product for approximately $10, and this product would be able to be used multiple times. For example, each can would have the capacity to clean roughly 20 pairs of shoes before becoming empty.
Venture Concept
My product will solve the unmet need because it will make dirty shoes clean once again in a quick and easy process. There are not currently any other big name products that do this service, so thus it will not require anyone to switch over to my product. The distribution of this product will be a major point of emphasis for the product. Ideally, this product would be placed either next to all the shoes, or it would be sold at the counter. People probably would not go out specifically to buy my product, but when buying new shoes would deem it acceptable to buy my product as a complementary good that would help elongate the life of their new purchase. I would organize my business as a small setup with roughly twenty people that would be able to handle the day to day dealings with the company, and who also have a similar passion.
1) The biggest resource that my company has is that the need will always be there. There will never be a world in which people will never have their shoes get dirty through outdoor activities or just walking around.
2) The next venture would be to move into the world of action sports, possibly selling a similar item to people who want to keep their snowboarding boots clean, or who use specialty shoes to hike, etc.
3) In five years, I would ideally see this company being something more as a side business that is also profitable. This way would ensure that I can enjoy the process of the business world and can be happy while operating the venture.
Friday, March 30, 2018
23A - Your Venture's Unfair Advantage
1) The shoe cleaning product itself
- This product would be our own formula that would allow for a quick shoe cleaning spray. This would be a mix of chemicals or other products that would be hard to copy unless given inside information.
2) The people working with me
- These people on my development team would be hand selected by me, so I know their human capital would be centered around the business, which is something very unique to my business.
3) The business culture
- My company would be filled with people that truly appreciate and enjoy the business they are in. These would be people who have always been interested, either through basketball, magazines, etc.
4) Social media presence
- The product would be heavily featured in Instagram ads and other such ways of social media. However, this is not as valuable and unique since any company can do this.
5) The price of the product
- The product will be cheap, however, so are many such cleaning products that can be used around the house. One of the main target groups will be college-aged kids, and thus one of the main selling points is the price.
6) The multi-fabric use
- The shoe cleaning product will be able to be used on all shoe materials, from leather to mesh, etc. This will be a unique quality of my product.
7) The development process
- The product will be constantly updated to keep up with the shoe trends of the time, so as to constantly work and not ruin anyone's look.
8) The unmet need
- This is a product that will constantly be needed, as there will never be a world in which shoes don't get dirty. Because of this, people will always have a need for the product so as long as they want to clean their shoes.
9) The joy of the business
- When I would ultimately go through with producing this product, I would need financial backing from years of previous work. Because of this, this product would be made because I enjoy the process, rather than out of financial necessity. This would ensure positive vibes throughout the staff that would make people want to work together.
10) Pairing this product
- Ideally, my product would be sold in skate shops and at places like Sports Authority. I would have these placed next to where the shoes are, or at the counter because people would want to buy those items together. People are always buying shoes so this will be unique to my product because it will allow for consistent demand.
My companies most valuable resource, in my opinion, is number eight. This is because having a company based on a need that will always be there will ensure for constant sales, and will not be a product that goes in and out with phases. This part of the list would be a main point of my business model.
- This product would be our own formula that would allow for a quick shoe cleaning spray. This would be a mix of chemicals or other products that would be hard to copy unless given inside information.
2) The people working with me
- These people on my development team would be hand selected by me, so I know their human capital would be centered around the business, which is something very unique to my business.
3) The business culture
- My company would be filled with people that truly appreciate and enjoy the business they are in. These would be people who have always been interested, either through basketball, magazines, etc.
4) Social media presence
- The product would be heavily featured in Instagram ads and other such ways of social media. However, this is not as valuable and unique since any company can do this.
5) The price of the product
- The product will be cheap, however, so are many such cleaning products that can be used around the house. One of the main target groups will be college-aged kids, and thus one of the main selling points is the price.
6) The multi-fabric use
- The shoe cleaning product will be able to be used on all shoe materials, from leather to mesh, etc. This will be a unique quality of my product.
7) The development process
- The product will be constantly updated to keep up with the shoe trends of the time, so as to constantly work and not ruin anyone's look.
8) The unmet need
- This is a product that will constantly be needed, as there will never be a world in which shoes don't get dirty. Because of this, people will always have a need for the product so as long as they want to clean their shoes.
9) The joy of the business
- When I would ultimately go through with producing this product, I would need financial backing from years of previous work. Because of this, this product would be made because I enjoy the process, rather than out of financial necessity. This would ensure positive vibes throughout the staff that would make people want to work together.
10) Pairing this product
- Ideally, my product would be sold in skate shops and at places like Sports Authority. I would have these placed next to where the shoes are, or at the counter because people would want to buy those items together. People are always buying shoes so this will be unique to my product because it will allow for consistent demand.
My companies most valuable resource, in my opinion, is number eight. This is because having a company based on a need that will always be there will ensure for constant sales, and will not be a product that goes in and out with phases. This part of the list would be a main point of my business model.
Friday, March 23, 2018
Reading Reflection No. 2
The book that I chose to read for this assignment is "How to Fail at Almost Everything and Still Win Big" by Scott Adams. This book was one of my favorite reads and was constantly interesting. The main theme of the book was about priorities, and how to value the ways that you live your life. The book enhanced my views and understandings of this class. It can easily be said, but Adams really elaborated on the idea of looking at yourself and making sure that you are healthy, both mentally and physically. He wrote often about how a good diet, a good fitness plan, and adequate sleep can lead to a much more successful and happy life. By doing so, and then evaluating how much you value wealth and happiness, a person can find the optimum level of contentment. If I had to design an exercise for the class based on this book, I would have the student make a list that prioritizes their top ten goals in life, this would include both business and personal life. My "aha" moment of the book came when Adams began to describe and talk about how a person living a moderate life can be overall happier and enjoy their day to day activities more than someone that is rich to the point of owning their own private island. This more "flexible schedule" as he describes can lead to more time to pursue leisure activities that the person enjoys, which then boosts their mental state further.
Idea Napkin No.2
Who Am I? I am James, and I am a twenty-year-old male from New Jersey. My talents include networking and face to face interactions with people, as well as having a pretty reasonable understanding of the markets. My business aspiration is to provide a reliable product to people that have the same passions as me.
What Am I Offering to People? I am offering a shoe cleaning product. It will be a spray on product, that once sprayed and then rubbed in, will quickly remove all blemishes and dirt marks on the shoes.
Who Am I Offering it to? I am offering this product to active people in their late teens, twenties, and thirties. The reason for this is that this type of customer is typically out and about, and will thus have consistently dirty shoes since they are always on the move. This is a kind of person who enjoys going on runs, playing intramural sports, or even taking their dog for a walk.
Why Would They Care? They would care if they are concerned with their appearance, or if they get irritated by wearing dirty apparel. This would ensure that their shoes would look as good as new constantly.
What are my Core Competencies? What sets my product apart is that there is currently no name brand products that people consistently use to clean their shoes. Most people have long and/or expensive other ways that they currently do to fulfill the task.
I believe that many of these aspects of myself and my business fit well together. The people who I would most likely be in business with would be people who are around a similar age and enjoy a similar lifestyle. Because of this, I believe that they would have many of the same unmet needs as myself.
After the last post, I had a few takeaways that were very central to the way that I proceeded. The first is that this product would be seen as something that college-aged kids would want, which was my hope. Secondly, which is related to the "Growing Social Capital" assignment, is to get feedback from industry experts. These people would be able to accurately assess the risks of the business and tell me if it is worth it to pursue. The comments were very good feedback.
What Am I Offering to People? I am offering a shoe cleaning product. It will be a spray on product, that once sprayed and then rubbed in, will quickly remove all blemishes and dirt marks on the shoes.
Who Am I Offering it to? I am offering this product to active people in their late teens, twenties, and thirties. The reason for this is that this type of customer is typically out and about, and will thus have consistently dirty shoes since they are always on the move. This is a kind of person who enjoys going on runs, playing intramural sports, or even taking their dog for a walk.
Why Would They Care? They would care if they are concerned with their appearance, or if they get irritated by wearing dirty apparel. This would ensure that their shoes would look as good as new constantly.
What are my Core Competencies? What sets my product apart is that there is currently no name brand products that people consistently use to clean their shoes. Most people have long and/or expensive other ways that they currently do to fulfill the task.
I believe that many of these aspects of myself and my business fit well together. The people who I would most likely be in business with would be people who are around a similar age and enjoy a similar lifestyle. Because of this, I believe that they would have many of the same unmet needs as myself.
After the last post, I had a few takeaways that were very central to the way that I proceeded. The first is that this product would be seen as something that college-aged kids would want, which was my hope. Secondly, which is related to the "Growing Social Capital" assignment, is to get feedback from industry experts. These people would be able to accurately assess the risks of the business and tell me if it is worth it to pursue. The comments were very good feedback.
Growing Your Social Capital
The first person that I talked to was the domain expert. He is my friend Blake, and he runs his own business where he will buy rare or retro shoes and then will sell them again to different buyers after restoring them. He has been doing this since his sophomore year of high school since shoes are his passion, especially Jordans. I know him because of a mutual friend during our freshman year of college. The exchange was just a regular conversation, and he did not expect anything in return. He described to me in full his process of buying a pair of shoes and then the expenses that it requires to make them look like new again. Having Blake in my networking circle will provide a possible business partner who would buy my product, and would be able to introduce me to other people who have a passion for restoring shoes.
The next person who I talked to was my friend Justin's father, who works in advertising. He works for many different companies to consult them on target groups, which does include shoe companies and has been doing so for many years. He is fulfilling the expert on the market slot since he has been conducting research for many years. I know him because he is my roommate's father, and talked to him when he was here over the week visiting. The nature of the talk was a very civil and regular conversation with nothing expected in return. He would be helpful in my networking circle because he would be able to provide advice on marketing the product in the best way possible.
The third and final person that I talked to was Dave, who is the manager at my family's surf shop, and he fulfills the industry supplier role since he is constantly buying shoes in bulk and selling them, and other related products. I contacted him over the phone since he is currently in New Jersey. He did not expect anything in return since he is a friend, but he might hope for me to purchase some clothes next time I'm home. He is good to have in my networking circle because he is managing a store, and knows the other surf shop managers in the area. This is a good way to introduce my product to people who would buy it in bulk.
This experience was different than from what I had expected. It will help me in future networking events because by the end I was much more comfortable talking to people who are heavily involved in the same, or at least similar, industry. By the end, my questions were also much more refined and helped me to get the answers I needed.
The next person who I talked to was my friend Justin's father, who works in advertising. He works for many different companies to consult them on target groups, which does include shoe companies and has been doing so for many years. He is fulfilling the expert on the market slot since he has been conducting research for many years. I know him because he is my roommate's father, and talked to him when he was here over the week visiting. The nature of the talk was a very civil and regular conversation with nothing expected in return. He would be helpful in my networking circle because he would be able to provide advice on marketing the product in the best way possible.
The third and final person that I talked to was Dave, who is the manager at my family's surf shop, and he fulfills the industry supplier role since he is constantly buying shoes in bulk and selling them, and other related products. I contacted him over the phone since he is currently in New Jersey. He did not expect anything in return since he is a friend, but he might hope for me to purchase some clothes next time I'm home. He is good to have in my networking circle because he is managing a store, and knows the other surf shop managers in the area. This is a good way to introduce my product to people who would buy it in bulk.
This experience was different than from what I had expected. It will help me in future networking events because by the end I was much more comfortable talking to people who are heavily involved in the same, or at least similar, industry. By the end, my questions were also much more refined and helped me to get the answers I needed.
Friday, March 16, 2018
Customer Avatar
This exemplifies the prototypical customer when I am describing my segment of people who would be interested in buying a quick, shoe cleaning product. He is an active college student that can consistently be seen walking to and from class, going for runs in the park, or even playing with his dog in the backyard. Because of this, his shoes constantly get dirty and are in need of cleaning. Yet, he loves to spend his money on other discretionary things, such as going out to eat with his friends or going to basketball games. Becuase of this, and his busy school schedule, he only tends to buy an item when he knows the purchase will be worth the money. In his free time away from working out and school, he likes to watch sporting events, and especially go to the beach. Because of this, he works part-time as a manager at his local gym as a lifeguard. His favorite movie is Batman the Dark Knight, and his favorite television show is The Office. His dog's name is Kevin, and he is a 3-year-old yellow lab.
I have a few things in common with this avatar. Both him and I are college-aged kids who enjoy exercise and the outdoors. However, I do not own a dog and generally enjoy home cooked meals more than from a restaurant. Both him and I tend to analyze our purchases to ensure that the money will not be wasted. I do not think this is a coincidence that I have a lot in common with my avatar. I created a product out of a need of mine, so therefore the person would be similar to me. This is because I believe the need to be a common problem for someone my age.
Friday, March 2, 2018
Halfway Reflection
At first impression, this class can look intimidating with all of the required assignments, and that only missing a few can drastically drop your grade. However, I would advise to stick with it and to not get intimidated by the process. By repeatedly doing what is asked and all of the assignments, you will build a great work ethic and will become very enthusiastic about doing the work. There were times this semester when the assignments of this class and others seemed as if it would be impossible to complete. However, the end result and what is gained from persevering and completing all the work is well worth it. It may be stressful at times, but putting in the effort is a very rewarding feeling. If I had to give you three tips it would be to: 1) Always maintain a positive attitude towards the school work, 2) Know that every midterm and finals season will come to an end, and the seemingly endless amounts of work won't always be so bad, 3) Don't be afraid to ask teachers or friends for help, they can provide significant feedback on the work that you have done already. Stick with the class, as you will emerge with a new outlook on not only the process of chasing an idea but the business world as a whole!
Figuring Out Buyer Behavior No.2
The segment that I once again interviewed was college-aged kids, and particularly those that are more active than not. Before the interview, I made a quick list of possible alternatives to my idea of a spray-and-scrub cleaner for shoes. These included:
- Putting the dirty shoes in the washing machine.
- Doing nothing with the shoes.
- Buying a new pair of identical or similar shoes.
- Trying to find remedies around their apartments/houses.
I interviewed three different friends this time, and for each of them the choice came down to a combination of factors. The first, my friend Dave, said it would come down to whatever was the cheapest for him and that could fit into his busy schedule. My two other friends that were interviewed, Dean and Matt, said that price was a major factor for them as well, and quality of the finished product also mattered immensely. Each of the three said that their preferred method of purchase would be online because it does not require the time and effort to go to a store and buy a product. However, Dave said that if going to a store would provide the quickest and cheapest way then he would do that instead of shopping online. Dean and Dave said that determining rightness would be about how much cleaner the shoe looks, and for how long it lasts. Matt based this decision based off of how long the actual product would last, and how many times he would be able to use it. All three said it would only be a bad purchase if the product did not work well or did not match the price expectations. Based off of this, I concluded that selling this product online would be the best way to reach the biggest client base. I also concluded that the main factor for many college-aged kids is the price of the product, so providing it for as cheap of a price as possible is a needed step. I would describe this segment as very rational and very thoughtful of their purchases due to the lack of a major budget for college kids.
- Putting the dirty shoes in the washing machine.
- Doing nothing with the shoes.
- Buying a new pair of identical or similar shoes.
- Trying to find remedies around their apartments/houses.
I interviewed three different friends this time, and for each of them the choice came down to a combination of factors. The first, my friend Dave, said it would come down to whatever was the cheapest for him and that could fit into his busy schedule. My two other friends that were interviewed, Dean and Matt, said that price was a major factor for them as well, and quality of the finished product also mattered immensely. Each of the three said that their preferred method of purchase would be online because it does not require the time and effort to go to a store and buy a product. However, Dave said that if going to a store would provide the quickest and cheapest way then he would do that instead of shopping online. Dean and Dave said that determining rightness would be about how much cleaner the shoe looks, and for how long it lasts. Matt based this decision based off of how long the actual product would last, and how many times he would be able to use it. All three said it would only be a bad purchase if the product did not work well or did not match the price expectations. Based off of this, I concluded that selling this product online would be the best way to reach the biggest client base. I also concluded that the main factor for many college-aged kids is the price of the product, so providing it for as cheap of a price as possible is a needed step. I would describe this segment as very rational and very thoughtful of their purchases due to the lack of a major budget for college kids.
Friday, February 23, 2018
Figuring Out Buyer Behavior No.1
The segment that I have decided to interview for this assignment is college aged kids. In particular, I interviewed those who are more active than not because they would have a higher chance of meeting the same unmet need as myself. For this, I waited at my house around dinner time and asked my roommates and friends until I found three people with the same need. My idea is a shoe cleaning product that can help take the dirt and other marks off of shoes quickly and cheaply. I chose to interview around dinner because at this point of the day most people had already either walked around campus, gone to the gym or other places that could have potentially made the shoes dirty during the course of a regular day.
For all three interviews, the three people all began to notice their need approximately a month after the purchase of their latest pair of shoes. Two of the interviewees stated they began to notice the need slowly, whereas the last person stated that he was caught in a storm on a scooter and rain/dirt impacted his shoes. However, they did not know what to do to fix this. None of the three made a direct or instantaneous move to fix their shoes once they realized their need, however this took anywhere from 3 to 4 months to finally act on this need. All three stated that they googled "How to clean shoes". Two of the three said that the ways they found took a lot of time, and only did a satisfactory at best job of cleaning the shoes, and the third said after he used a google recommended way that there was no noticeable improvement. I have found throughout these three interviews that they all noticed their need shortly after purchasing new shoes, but took much longer to act on this need. I have also learned that they did not have a set, quick way to clean shoes. My conclusion then is that this product would be especially popular amongst college kids. The reason for this is that a college student has an ever changing schedule and thus can sometimes be restricted on time, which would make a quick use product popular. The quickness of the clean would also be a focus in the production of the item, because this quickness would lead to less effort by the consumer, who would then be more willing to buy it. I would describe this segment interviewed as very aware of their need, but not very willing to search for information or to constantly use a lot of effort to clean shoes that will then become dirty again.
For all three interviews, the three people all began to notice their need approximately a month after the purchase of their latest pair of shoes. Two of the interviewees stated they began to notice the need slowly, whereas the last person stated that he was caught in a storm on a scooter and rain/dirt impacted his shoes. However, they did not know what to do to fix this. None of the three made a direct or instantaneous move to fix their shoes once they realized their need, however this took anywhere from 3 to 4 months to finally act on this need. All three stated that they googled "How to clean shoes". Two of the three said that the ways they found took a lot of time, and only did a satisfactory at best job of cleaning the shoes, and the third said after he used a google recommended way that there was no noticeable improvement. I have found throughout these three interviews that they all noticed their need shortly after purchasing new shoes, but took much longer to act on this need. I have also learned that they did not have a set, quick way to clean shoes. My conclusion then is that this product would be especially popular amongst college kids. The reason for this is that a college student has an ever changing schedule and thus can sometimes be restricted on time, which would make a quick use product popular. The quickness of the clean would also be a focus in the production of the item, because this quickness would lead to less effort by the consumer, who would then be more willing to buy it. I would describe this segment interviewed as very aware of their need, but not very willing to search for information or to constantly use a lot of effort to clean shoes that will then become dirty again.
Friday, February 16, 2018
Idea Napkin No. 1
I am James Gallagher, I’m a twenty
year old from New Jersey. My talents include my people skills and my innovative
thinking on the fly. My experiences include helping my parents open up a surf
shop, as well as working on the beach for the past several summers. My
aspirations include eventually going to law school and becoming involved in
business expenditures. My business idea is a product that cleans shoes quickly
and efficiently, all with a cheap price tag. I would see this business playing
a big part in my life, but not something that would be a 24/7 kind of a thing.
I am offering this shoe cleaning service to people off all ages, however I
could see this being popular with people that have stopped growing. The reason
for this is that people are more willing to buy a cleaning product for a shoe
they know that they will not grow out of, whereas they will let a shoe stay
dirty when they know they will be getting a new pair soon. Therefore, I
especially see my product selling with people in their late teens, twenties,
and thirties, and especially those who are more active. People will benefit
from this service because it will allow their shoes to look new all the time,
and will prolong the need to buy a new pair. What sets me apart is that I am
constantly getting my shoes dirty and trying to find newer and better ways to
clean them.
I believe
that these different aspects of my life will mesh together to help with the end
product of the shoe cleaning. My background has many diverse elements and
experiences, and I have various ambitions in life. Because of this, I believe
that my company would be more open to adaptations to fit the consumer’s ever
changing need. However, if there is anything about my product and design that
is weaker, it is that I would be hesitant to fully commit to it right away when
the product is in the beginning stages.
Thursday, February 8, 2018
Testing the Hypothesis, Part 2
My opportunity that I tested in the original "Testing the Hypothesis" post was a way that would quickly and cheaply clean dirty shoes. Although many people would have surely been interested in such a product, there were still some people who did not want this. For this, I found five new people who I saw walking around with dirty shoes, and interviewed them. For them to qualify for this section, they also had to state that they were not interested as well.
The Who: These were five of my friends, but had no interest in a product that quickly cleaned shoes. They are all people around the age of twenty, and who lived mostly active lifestyles
The What: The need that I have identified differs once it becomes something that does not fit into a schedule. Since cleaning shoes is not vital to life or survival, many other tasks take priority over this when they are urgent or need to be done.
The Why: The reason for almost everyone that fell outside of the boundary was that they simply did not care about their shoes or the way they looked. Four of the five stated that they do not care about the way they look since they are just shoes and are bound to get dirty again, so they found no need to put in the effort, and the last person stated that they would rather just buy new shoes once the old ones get too dirty or near ruin.
almost like new. they care about.
The Why: Shoes are always on the move and The shoes are bound to become dirty again so
are bound to get dirty through activity. there is no need to buy this product.
The Who: These were five of my friends, but had no interest in a product that quickly cleaned shoes. They are all people around the age of twenty, and who lived mostly active lifestyles
The What: The need that I have identified differs once it becomes something that does not fit into a schedule. Since cleaning shoes is not vital to life or survival, many other tasks take priority over this when they are urgent or need to be done.
The Why: The reason for almost everyone that fell outside of the boundary was that they simply did not care about their shoes or the way they looked. Four of the five stated that they do not care about the way they look since they are just shoes and are bound to get dirty again, so they found no need to put in the effort, and the last person stated that they would rather just buy new shoes once the old ones get too dirty or near ruin.
Inside the Boundary Outside the Boundary
The Who: People who want their dirty People that do not care about the state of their
shoes cleaned. shoes, even if they are dirty.
The What: The need to make the shoes look The need is not a priority or anything thatalmost like new. they care about.
The Why: Shoes are always on the move and The shoes are bound to become dirty again so
are bound to get dirty through activity. there is no need to buy this product.
Solving the Problem
The problem that I have selected to try and find a solution for is from my bug list, and this "bug" is the long lines that occur outside of sporting events, concerts, and other such prominent events. These lines can take many minutes, and are quite annoying for the average person to go through each time they want to attend an event. Many times, the hold up comes from the scanning devices that employees use to check the tickets to ensure validity. Often it is not accurate when scanning the barcode, and thus takes multiple attempts, which then causes a delay. The solution to this problem would be to provide some sort of device that automatically checks the tickets, and does not require employees. Such as how to get into many dorms a student is required to have a fob to get in, this idea would be similar, where a customer would show this device the ticket (either an electronic ticket or the actual), and it would automatically scan the barcode, as long as it is in the perimeter of the box. The employees or volunteers that once scanned the tickets could then be assigned to watching the lines to make sure that everyone scans through to get in.
Friday, February 2, 2018
Testing the Hypothesis, Part 1
The opportunity I would like to pursue would be a way to quickly and cheaply clean dirty shoes. Many people get their new shoes dirty very quickly, either through weather, going out frequently with them, or just the dirtiness of streets and sidewalks. Currently I clean my shoes relatively frequently and it is a time consuming task, especially for my white shoes.
The Who: Everyone that has shoes that are dirty, or that will get dirty in the future that would like them to look clean again.
The What: There is not an easy and quick way to clean shoes within a few minutes.
The Why: Being on the ground constantly means they will constantly get dirty, so people do not want to spend a lot of time cleaning them.
In the who, there is no one else that would need a shoe cleaning product other than those people who have dirty shoes, or soon to be dirty shoes. The what can be challenged because there are many different colors of shoes, and the materials that they're made with, so finding a one-cleans-all solution could be tricky. The why can be challenged by the people who would rather either just buy new shoes, or that do not feel like exerting the energy into cleaning the shoes.
For my interviews, I talked to 5 of my friends (John, Joe, Robby, Michael, and Nico) and listened to their thoughts. I started off each interview with a few broad questions before going into more specific ones. I found that each person has an issue with their shoes, and each wishes that they had a product that could clean these quickly and effectively. This strengthens what I thought of for my who, because I had suspected a few might have had no interest. I then asked how they are currently dealing with this problem. Two of them responded that they're doing nothing, two others said they have lengthy processes, and the last said that he stops wearing the shoes once they get too dirty. Why did each person say they followed that process? The general thought was that their way was the most economically and time effective way that they could think of. Each then stated that if they could buy a relatively cheap product that could clean their shoes, they would be customers.
The Who: Everyone that has shoes that are dirty, or that will get dirty in the future that would like them to look clean again.
The What: There is not an easy and quick way to clean shoes within a few minutes.
The Why: Being on the ground constantly means they will constantly get dirty, so people do not want to spend a lot of time cleaning them.
In the who, there is no one else that would need a shoe cleaning product other than those people who have dirty shoes, or soon to be dirty shoes. The what can be challenged because there are many different colors of shoes, and the materials that they're made with, so finding a one-cleans-all solution could be tricky. The why can be challenged by the people who would rather either just buy new shoes, or that do not feel like exerting the energy into cleaning the shoes.
For my interviews, I talked to 5 of my friends (John, Joe, Robby, Michael, and Nico) and listened to their thoughts. I started off each interview with a few broad questions before going into more specific ones. I found that each person has an issue with their shoes, and each wishes that they had a product that could clean these quickly and effectively. This strengthens what I thought of for my who, because I had suspected a few might have had no interest. I then asked how they are currently dealing with this problem. Two of them responded that they're doing nothing, two others said they have lengthy processes, and the last said that he stops wearing the shoes once they get too dirty. Why did each person say they followed that process? The general thought was that their way was the most economically and time effective way that they could think of. Each then stated that if they could buy a relatively cheap product that could clean their shoes, they would be customers.
Identifying Opportunities in Economic & Regulatory Trends
1) The Rise of Digital Currencies
I found my topic through a google search, and the main site that I used was a New York Times article. The information in this article states that digital currencies have risen in value and popularity exponentially over the past few months. Thus, because of its increased sphere of influence, the prototypical customer is someone that is of investing age, which ranges from late teens through the working years. This opportunity would be relatively hard to exploit. The opportunity in mind was to start a website or app that allows for the purchase of every different type of coin, with each purchase taking off an interest fee for the company. I saw this opportunity because the world is moving more and more digital, and thus I believe it has sticking power, whereas older generations might believe it is simply a fad.
2) The Rise of Money Transfer Apps
I once again found my topic through a google search, and used a Los Angeles Times article as my background research. This is yet another growing trend, especially for many millennials. The information stated that these sort of apps that send money directly to and from bank accounts, no matter if they're different banks or not, will only grow in popularity through the years. It stated that it is only a matter of time until each bank has its own sort of app for this. The prototypical customer is anyone that has a bank account. This opportunity would be relatively hard to exploit, as it would require the making of an app or site that can transfer funds, with yet again either a fee for each transfer or a delayed transfer that lets interest build briefly, as Venmo itself does. Once again, many in the older generations struggle with technology as it is, so this is an opportunity that I saw because I am of the group that already uses the few apps for this that there are.
3) New Tax Reforms
I found my information on a businessdaily.com article, and this was an article that stated that this reform will have massive effects. There are many opportunities because this law will effect all levels of business. The most likely customer would be anyone planning to open a business that needs advice. The opportunity is relatively easy to exploit, as there are hundreds of ways to go that would be profitable, such as opening an advising firm. I saw this opportunity because it has been in the news a lot recently, whereas others might have missed this if they do not watch the news or get alerts to their phones.
4) Raises of Minimum Wages in Many Cities Across the Country
I found this information on another businessdaily.com article. This source of information stated that there could be even more raises in cities coming within the next year. Many opportunities exist because thousands of people will be making more money. The customer with the unmet needs would be all of the minimum wage workers that will get raises, but will not know where to spend it or how to save it. This opportunity is easy to exploit because there are many directions that one could take with this, such as an advising firm or other businesses that cater towards people with money but need help. I saw this opportunity because I believe the wages will continue to rise with the times, whereas other may think they'll stay the same.
I found my topic through a google search, and the main site that I used was a New York Times article. The information in this article states that digital currencies have risen in value and popularity exponentially over the past few months. Thus, because of its increased sphere of influence, the prototypical customer is someone that is of investing age, which ranges from late teens through the working years. This opportunity would be relatively hard to exploit. The opportunity in mind was to start a website or app that allows for the purchase of every different type of coin, with each purchase taking off an interest fee for the company. I saw this opportunity because the world is moving more and more digital, and thus I believe it has sticking power, whereas older generations might believe it is simply a fad.
2) The Rise of Money Transfer Apps
I once again found my topic through a google search, and used a Los Angeles Times article as my background research. This is yet another growing trend, especially for many millennials. The information stated that these sort of apps that send money directly to and from bank accounts, no matter if they're different banks or not, will only grow in popularity through the years. It stated that it is only a matter of time until each bank has its own sort of app for this. The prototypical customer is anyone that has a bank account. This opportunity would be relatively hard to exploit, as it would require the making of an app or site that can transfer funds, with yet again either a fee for each transfer or a delayed transfer that lets interest build briefly, as Venmo itself does. Once again, many in the older generations struggle with technology as it is, so this is an opportunity that I saw because I am of the group that already uses the few apps for this that there are.
3) New Tax Reforms
I found my information on a businessdaily.com article, and this was an article that stated that this reform will have massive effects. There are many opportunities because this law will effect all levels of business. The most likely customer would be anyone planning to open a business that needs advice. The opportunity is relatively easy to exploit, as there are hundreds of ways to go that would be profitable, such as opening an advising firm. I saw this opportunity because it has been in the news a lot recently, whereas others might have missed this if they do not watch the news or get alerts to their phones.
4) Raises of Minimum Wages in Many Cities Across the Country
I found this information on another businessdaily.com article. This source of information stated that there could be even more raises in cities coming within the next year. Many opportunities exist because thousands of people will be making more money. The customer with the unmet needs would be all of the minimum wage workers that will get raises, but will not know where to spend it or how to save it. This opportunity is easy to exploit because there are many directions that one could take with this, such as an advising firm or other businesses that cater towards people with money but need help. I saw this opportunity because I believe the wages will continue to rise with the times, whereas other may think they'll stay the same.
Friday, January 26, 2018
Forming an Opportunity Belief
I do have a belief that an opportunity exists. Somewhere there is an idea that can be the basis for a lucrative business, and this idea just needs to be found. The unmet need that comes to mind is not being able to communicate with others when going through an area with little to no service, typically in the middle of no where. The people who have this need are the people who like to travel to remote areas, or those who enjoy hiking, camping, or other outdoor activities away from civilization. This need has been around forever, since people always lose contact with one another when in unfamiliar places, but the problem is now commonly linked with cell phone service. Now, people will either bring radios with them or they will simply do without their cell phones. At this point, I am around 90% sure that this need exists.
Prototypical Customer #1: My Roommate Justin
Justin had noticed this need long ago, as his family would take camping trips most fall seasons. During these trips are the only times that he notices the need, as he lives near New York City for the rest of the year where there is service. His nature of the need is that he cannot talk to friends or cannot call for help if needed. Currently, him and his family simply do without phones on their trips and trust that nothing problematic will happen.
Prototypical Customer #2: My Uncle Jack
My uncle is big into fishing, and thus constantly loses contact with the landed world when he takes his boat out a few miles into the ocean. He has only become aware of this problem recently with cell phones, as he never noticed it before that. His need in this situation is that if family, friends, or business concerns need him, he will not be able to answer. He is currently dealing with this situation by using his radio to talk to other nearby boats if a problem arises. He is moderately satisfied with this solution, as family still cannot reach him if need be.
Prototypical Customer #3: My best friend David
David is yet another outdoors kind of a person. His favorite hobby is snowboarding, which is naturally in places of high altitude. Because of this, he cannot talk to anyone when he is on the mountain, and is in his own little bubble of sorts. He became aware of this need the first time his parents let him go snowboarding or down trails by himself, which then showed him that he is essentially on his own. He is now only aware of this need when he is on the mountain, and sometimes when traveling to or from the destination. He is currently addressing the need by making a plan with the family and friends that he goes with, so that they can meet up when the time comes.
These three interviews made me realize the nature of my opportunity is different than anticipated. I had assumed that everyone would rather have the option of contact rather than no contact, but this is not the case. The most surprising thing is that many people are not significantly interested in changing anything to the point of buying new devices or adding anything to their own that would allow for contact with anyone, anytime, from anywhere.
There is still a chance that my belief is there, however it is definitely less of a chance than I originally thought. I would give it around a 30% chance or so now, because I have came to realize that most of the time that people lose service, is because they intend to do so. Many people go camping, fishing, snowboarding, etc. to escape from the world and relax. Therefore, rather than thinking of ways that cell phone coverage could work everywhere, a better opportunity would now be devices specifically for people that need to talk to the civilized world when they are away from it. This is a much more accurate and reliable solution to the problem. I believe that customers should greatly adapt their product to customer feedback. It is the customer that is the purchaser of services after all, so therefore if they provide feedback to better the product and make it more successful, they should do that immediately.
Prototypical Customer #1: My Roommate Justin
Justin had noticed this need long ago, as his family would take camping trips most fall seasons. During these trips are the only times that he notices the need, as he lives near New York City for the rest of the year where there is service. His nature of the need is that he cannot talk to friends or cannot call for help if needed. Currently, him and his family simply do without phones on their trips and trust that nothing problematic will happen.
Prototypical Customer #2: My Uncle Jack
My uncle is big into fishing, and thus constantly loses contact with the landed world when he takes his boat out a few miles into the ocean. He has only become aware of this problem recently with cell phones, as he never noticed it before that. His need in this situation is that if family, friends, or business concerns need him, he will not be able to answer. He is currently dealing with this situation by using his radio to talk to other nearby boats if a problem arises. He is moderately satisfied with this solution, as family still cannot reach him if need be.
Prototypical Customer #3: My best friend David
David is yet another outdoors kind of a person. His favorite hobby is snowboarding, which is naturally in places of high altitude. Because of this, he cannot talk to anyone when he is on the mountain, and is in his own little bubble of sorts. He became aware of this need the first time his parents let him go snowboarding or down trails by himself, which then showed him that he is essentially on his own. He is now only aware of this need when he is on the mountain, and sometimes when traveling to or from the destination. He is currently addressing the need by making a plan with the family and friends that he goes with, so that they can meet up when the time comes.
These three interviews made me realize the nature of my opportunity is different than anticipated. I had assumed that everyone would rather have the option of contact rather than no contact, but this is not the case. The most surprising thing is that many people are not significantly interested in changing anything to the point of buying new devices or adding anything to their own that would allow for contact with anyone, anytime, from anywhere.
There is still a chance that my belief is there, however it is definitely less of a chance than I originally thought. I would give it around a 30% chance or so now, because I have came to realize that most of the time that people lose service, is because they intend to do so. Many people go camping, fishing, snowboarding, etc. to escape from the world and relax. Therefore, rather than thinking of ways that cell phone coverage could work everywhere, a better opportunity would now be devices specifically for people that need to talk to the civilized world when they are away from it. This is a much more accurate and reliable solution to the problem. I believe that customers should greatly adapt their product to customer feedback. It is the customer that is the purchaser of services after all, so therefore if they provide feedback to better the product and make it more successful, they should do that immediately.
Identifying Local Opportunities
During Tax Season, You're at Greater Risk of Identity Theft
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8F5865628E80?p=WORLDNEWS
This story details the problems of the security of identity protection, especially during the tax season. It tells of the many ways that identity thieves can steal your information, and many of them include ways that would leave those effected unaware. The problem in this story is that many people are very nonchalant when it comes to their own protection, and take their identity lightly. The problem is that identity thieves are becoming more and more skilled. The people that have this problem are the innocent bystanders during tax season that do not realize the trouble that is lurking. The opportunity here is to find and develop a safe way for the IRS and other such agencies or companies to send and receive personal information.
Big Road Beams are Going Up - So Highway Traffic will Shut Down on 836
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8F58A09D80A8?p=WORLDNEWS
This article details the troubles along the 836/Dolphin Expressway. It states of the many lane closures and how at times the entire highway is closed. The problem is that construction has been moving slowly, and thus causes traffic jams when everyone is going to work. The people who experience the problem are the daily commuters who simply want to get to work on time. The opportunity here is to find and develop more effective ways of construction and to figure out the best times to do such work.
More Birth Defects Reported in States with Local Spread of Zika, Including Florida
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8F585B87F558?p=WORLDNEWS
This story talks about the spread of Zika and how researchers are unsure if the birth defects are from the bug or from other factors. There was an exponential increase in birth defects, but the exact number because of the disease is unknown. The problem is that agencies do not have the proper techniques and surveillance to determine the causes of each defect. The people who experience the problem are those that work in those agencies, and the women who are carrying babies who do not have the proper treatment to help soften the deficiencies. The opportunity here is to find and develop better ways of detecting the deficiencies, or to even prevent the mosquito bites in the first place.
The New Brightline Train has hit 3 People so Far
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699DAD170A8C980?p=WORLDNEWS
This story talks about the new railway service, Brightline, and how it has injuries three citizens so far. There have been a lack of safety measures and signs along the track which would warn of this danger. The problem presented in the story is that the company does not have enough warning signs up that could alert those walking to the danger. The groups experiencing this problem include the company since it is not running safely, and the citizens who do not know of the danger. The opportunity here is to develop ways of letting people know the dangers, such as signs along the paths that cross this railway that can alert when a train is close.
Runners are Taking Over the Road- Here's How to Avoid Miami Marathon Traffic Hell
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699DAD169E6F1A8?p=WORLDNEWS
This story tells of the thousands of people who are participating in the Miami Marathon this year, and how it could potentially mess up traffic. It says that traffic will be either closed or shut down for almost all of Miami. The problem presented in the story is that if anyone needs to cross or go down certain roads to get to work, that they could experience troubles. The people who are effected by this are those commuting to and from work. The opportunity here is to find better routes for the marathon that effect the least amount of people, but still attract the most amount of runners. This would be opportune for advertisers as well since their messages would reach the most amount of people possible.
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8F5865628E80?p=WORLDNEWS
This story details the problems of the security of identity protection, especially during the tax season. It tells of the many ways that identity thieves can steal your information, and many of them include ways that would leave those effected unaware. The problem in this story is that many people are very nonchalant when it comes to their own protection, and take their identity lightly. The problem is that identity thieves are becoming more and more skilled. The people that have this problem are the innocent bystanders during tax season that do not realize the trouble that is lurking. The opportunity here is to find and develop a safe way for the IRS and other such agencies or companies to send and receive personal information.
Big Road Beams are Going Up - So Highway Traffic will Shut Down on 836
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8F58A09D80A8?p=WORLDNEWS
This article details the troubles along the 836/Dolphin Expressway. It states of the many lane closures and how at times the entire highway is closed. The problem is that construction has been moving slowly, and thus causes traffic jams when everyone is going to work. The people who experience the problem are the daily commuters who simply want to get to work on time. The opportunity here is to find and develop more effective ways of construction and to figure out the best times to do such work.
More Birth Defects Reported in States with Local Spread of Zika, Including Florida
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8F585B87F558?p=WORLDNEWS
This story talks about the spread of Zika and how researchers are unsure if the birth defects are from the bug or from other factors. There was an exponential increase in birth defects, but the exact number because of the disease is unknown. The problem is that agencies do not have the proper techniques and surveillance to determine the causes of each defect. The people who experience the problem are those that work in those agencies, and the women who are carrying babies who do not have the proper treatment to help soften the deficiencies. The opportunity here is to find and develop better ways of detecting the deficiencies, or to even prevent the mosquito bites in the first place.
The New Brightline Train has hit 3 People so Far
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699DAD170A8C980?p=WORLDNEWS
This story talks about the new railway service, Brightline, and how it has injuries three citizens so far. There have been a lack of safety measures and signs along the track which would warn of this danger. The problem presented in the story is that the company does not have enough warning signs up that could alert those walking to the danger. The groups experiencing this problem include the company since it is not running safely, and the citizens who do not know of the danger. The opportunity here is to develop ways of letting people know the dangers, such as signs along the paths that cross this railway that can alert when a train is close.
Runners are Taking Over the Road- Here's How to Avoid Miami Marathon Traffic Hell
http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699DAD169E6F1A8?p=WORLDNEWS
This story tells of the thousands of people who are participating in the Miami Marathon this year, and how it could potentially mess up traffic. It says that traffic will be either closed or shut down for almost all of Miami. The problem presented in the story is that if anyone needs to cross or go down certain roads to get to work, that they could experience troubles. The people who are effected by this are those commuting to and from work. The opportunity here is to find better routes for the marathon that effect the least amount of people, but still attract the most amount of runners. This would be opportune for advertisers as well since their messages would reach the most amount of people possible.
Friday, January 19, 2018
Bug List
1. The battery life of the iPhone
WHY: Intended deterioration in order to have the consumer crave the next model so that they will not have to constantly use their charger.
2. The lint build up in the dryer
WHY: Particles of clothes fall off during the drying process and pile together in a potentially hazardous mass.
3. The time it takes for a gaming system to update
WHY: There is a mass amount of data that must be transferred and installed in a system in order for it to function at maximum capacity.
4. Long lines to get into the University of Florida basketball and football games
WHY: Everyone attending attempts to show up at the game at the same time, which overwhelms the staff as they can only help one person at a time.
5. Getting oil changes every few thousand miles for a car
WHY: Cars are complex machines that need maintenance to clean their systems so that they do not break down.
6. Power outages during storms
WHY: The power lines are above ground and pose little resistance to harsh winds and other falling debris.
7. Only having trash pick-ups once a week at my apartment complex
WHY: Gainesville is a big town, and hence it takes the trash company a long time to reach every house.
8. Showers that do not drain immediately that leads to stagnant water
WHY: Dirt, hair, and other objects clog the drain which acts as a sort of dam, which causes the water to slowly drip through.
9. The traffic on University Avenue and Archer Road during rush hour
WHY: The majority of the population of Gainesville gets off work at the same time, or is going out to dinner at the time. This then causes traffic to pile up and to not move at times.
10. Tickets running out in the student section for University of Florida basketball games against Kentucky
WHY: The majority of the student body desires to attend this game, however the school's population is exponentially larger than the student seating section.
11. Basketballs deflating after several uses
WHY: The constant motion of dribbling causes the air particles to find ways to squeeze out of the ball. The ball is not completely un-porous which allows the particles to escape.
12. Changing lightbulbs multiple times per year when they are out
WHY: There is only so much of the substance to burn in the lightbulb, and once this is out there is nothing for it to make light.
13. Paying for an early release of a video game when it eventually gets releases to the public for free
WHY: The early release allows for those that pay for it to experience the game first and hone their skills, and then submit relevant feedback to fix bugs and errors.
14. The University if Florida buses running late in the mornings before class
WHY: Each bus has to make multiple stops along the way, and various problems can arise at each stop.
15. The redness that comes under a nose when a congested nose is blown onto a paper towel and not a tissue
WHY: The paper towel is made for cleaning messes and absorbing liquid, but not for comfort.
16. Bags of chips only being half full
WHY: Air is needed to keep the chips fresh and to allow more bags of chips to be packed into one box.
17. The amount of fur that dogs shed each year when the temperature rises that then gets stuck to all furniture and clothing
WHY: Dogs need to shed the weight and extra coats in order to vent and regulate their temperatures better when it begins to get warm.
18. The rapid deterioration of running shoes
WHY: These shoes get put through massive abuse and have weight constantly land on them for miles at a time, and thus the seams and other parts of it begin to break.
19. When apartment buildings begin to fill with tenants, the rent becomes higher for the remaining few.
WHY: The demand stays the same but the quantity available dimities, which makes the price each consumer is wiling to pay much higher.
20. The long waits to get through airport security
WHY: To ensure the safety of all passengers, the TSA employees must thoroughly check every person and their bags, which takes time.
Reflection: This assignment proved to be much more difficult and challenging than initially anticipated. I was surprised that I could not easily rattle off twenty things that "bug" me in the surrounding world. It forced me to re-evealute the world around me and to seek things that I usually overlook because of their annoyance and that I mark down mentally as routine. Following each listed item, my mind immediately began to try to search for solutions to these problems that would make lives easier, which would in turn be able to make a profit. I believe this is how the best entrepreneurs consistently come up with ideas, because they look at the world and the items in it in a different manner and find ways to improve them.
WHY: Intended deterioration in order to have the consumer crave the next model so that they will not have to constantly use their charger.
2. The lint build up in the dryer
WHY: Particles of clothes fall off during the drying process and pile together in a potentially hazardous mass.
3. The time it takes for a gaming system to update
WHY: There is a mass amount of data that must be transferred and installed in a system in order for it to function at maximum capacity.
4. Long lines to get into the University of Florida basketball and football games
WHY: Everyone attending attempts to show up at the game at the same time, which overwhelms the staff as they can only help one person at a time.
5. Getting oil changes every few thousand miles for a car
WHY: Cars are complex machines that need maintenance to clean their systems so that they do not break down.
6. Power outages during storms
WHY: The power lines are above ground and pose little resistance to harsh winds and other falling debris.
7. Only having trash pick-ups once a week at my apartment complex
WHY: Gainesville is a big town, and hence it takes the trash company a long time to reach every house.
8. Showers that do not drain immediately that leads to stagnant water
WHY: Dirt, hair, and other objects clog the drain which acts as a sort of dam, which causes the water to slowly drip through.
9. The traffic on University Avenue and Archer Road during rush hour
WHY: The majority of the population of Gainesville gets off work at the same time, or is going out to dinner at the time. This then causes traffic to pile up and to not move at times.
10. Tickets running out in the student section for University of Florida basketball games against Kentucky
WHY: The majority of the student body desires to attend this game, however the school's population is exponentially larger than the student seating section.
11. Basketballs deflating after several uses
WHY: The constant motion of dribbling causes the air particles to find ways to squeeze out of the ball. The ball is not completely un-porous which allows the particles to escape.
12. Changing lightbulbs multiple times per year when they are out
WHY: There is only so much of the substance to burn in the lightbulb, and once this is out there is nothing for it to make light.
13. Paying for an early release of a video game when it eventually gets releases to the public for free
WHY: The early release allows for those that pay for it to experience the game first and hone their skills, and then submit relevant feedback to fix bugs and errors.
14. The University if Florida buses running late in the mornings before class
WHY: Each bus has to make multiple stops along the way, and various problems can arise at each stop.
15. The redness that comes under a nose when a congested nose is blown onto a paper towel and not a tissue
WHY: The paper towel is made for cleaning messes and absorbing liquid, but not for comfort.
16. Bags of chips only being half full
WHY: Air is needed to keep the chips fresh and to allow more bags of chips to be packed into one box.
17. The amount of fur that dogs shed each year when the temperature rises that then gets stuck to all furniture and clothing
WHY: Dogs need to shed the weight and extra coats in order to vent and regulate their temperatures better when it begins to get warm.
18. The rapid deterioration of running shoes
WHY: These shoes get put through massive abuse and have weight constantly land on them for miles at a time, and thus the seams and other parts of it begin to break.
19. When apartment buildings begin to fill with tenants, the rent becomes higher for the remaining few.
WHY: The demand stays the same but the quantity available dimities, which makes the price each consumer is wiling to pay much higher.
20. The long waits to get through airport security
WHY: To ensure the safety of all passengers, the TSA employees must thoroughly check every person and their bags, which takes time.
Reflection: This assignment proved to be much more difficult and challenging than initially anticipated. I was surprised that I could not easily rattle off twenty things that "bug" me in the surrounding world. It forced me to re-evealute the world around me and to seek things that I usually overlook because of their annoyance and that I mark down mentally as routine. Following each listed item, my mind immediately began to try to search for solutions to these problems that would make lives easier, which would in turn be able to make a profit. I believe this is how the best entrepreneurs consistently come up with ideas, because they look at the world and the items in it in a different manner and find ways to improve them.
My Entrepreneurship Story
A few years ago, my parents embarked on their own entrepreneurship journey, and I was right there along side them for the ride. It had always been a dream of my dad to open up a surf shop, so eventually he decided to stop waiting and to act. Him and I visited a few potential locations before decided on where to open shop. Throughout the process I helped to decorate the store and to bring in the inventory that would eventually be sold to the consumers. I even worked for the shop for the first two summers it was open before getting another job. This itself is one of the main reasons on which I enrolled in ENT 3003, as this first hand account of the opening and day to day operations of a shop impacted me greatly. I am hoping to get out of this class a more professional and adult understanding of how a business works, and how the transformation from idea into action takes place. A more thorough and in depth understanding of an entrepreneurship is what I hope to take away from this class.
Monday, January 15, 2018
ENT3003
I believe the Golden State Warriors will beat the Cleveland Cavaliers to win the N.B.A. title for the year 2017-2018.
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