Assignment 6A – Identifying Opportunities in Economic & Regulatory Trends

• Economic trend: Consumer Sentiment Rate is low 
• Source: https://www.ibtimes.com/infographic-consumer-sentiment-drops-lowest-level-oct-2016-2755062
• I believe that this means an opportunity exists here because there are facts from past studies. It is proven that the consumer sentiment has been low since 2016, with consumers who are interested in recovering and finding jobs.
• The prototypical customer would be consumers who are currently looking for a stable job in the market.
• I believe exploiting this opportunity would be difficult since persons with a consumer sentiment low are in the process of recovering and ,therefore, tend to not be concentrated in one specific job market.
• I saw this opportunity while studying the Great Recession in my history class. This situation reminded me of how the consumers slowly recovered by creating jobs.

• Economic trend: Increase of aging population

• Source: https://www.wsj.com/articles/how-aging-japan-defied-demographics-and-turned-around-its-economy-11547222490
• I believe that there is an opportunity here because of the facts and statistics from other nations. It is proven that the population of Japan is mostly elders who are enthusiastic to work.
• The prototypical customer would be the elderly population of Japan who are looking for jobs and benefits. Moreover, their culture is about being active no matter the age.
• I believe exploiting this opportunity would not be too difficult because of how happily involved the Japanese elderly population is with the society.
• I saw this opportunity when I read an article named "In Japan, life begins when you are a senior".

• Regulatory changes: An opportunity to protect personal data.
• Source: https://www.cnet.com/news/apples-tim-cook-calls-for-new-regulations-to-protect-your-personal-data/
• I think this opportunity exists because there are facts that show companies like Apple are trying to look for new regulations that protects costumers. Moreover, this is a need and worry many users have.
• The prototypical customer would be the same companies that offer products or apps to many social media users. With a new regulation that could protect the privacy of their customers, their profit would be higher since customer satisfaction would increase. Moreover, with this type of regulations,companies would be able to prevent breaches.

• I believe this opportunity is difficult to exploit since there are not many companies interested in protecting their customer's privacy and personal data.
• I saw this opportunity because I read about some big companies trying to create partnerships with companies that had the technology to protect their data and the customer's data.

• Regulatory changes: An opportunity for increased production of compostable products in Gainesville.
• Source: https://www.alligator.org/news/the-plastic-ban-gainesville-will-be-percent-waste-free-by/article_4be9d1d4-1aec-11e9-9b28-dfc39205fdd9.html
• I think this opportunity exists because last week plastic bags and take-out containers were banned from Gainesville starting August. It is a green trend and environmental awareness that won't be stopped.
• The prototypical customer would be the companies that create compostable products like cups, plates, and utensils. This product replacement would be relatively slow; however, over time companies would completely replace different types of items that are usually made out of plastic.
• I believe this opportunity is relatively easy to exploit since it is already happening in different states in the USA and there are already companies that produce these recyclable products.
• I saw this opportunity because I realized green is the future. A lot of companies are already doing something to help minimize their environmental impact; therefore, it is just a matter of time until we start seeing completely compostable products in our stores.

Assignment 5A – Identifying Local Opportunities

Assignment 5A – Identifying Local Opportunities

• "2,200 Florida teacher jobs remain unfilled" by Leslie Postal of the Orlando Sentinel

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AORLB%21Orlando%2BSentinel%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0117%21January%2B17&f=advanced&action=browse&format=text&docref=news/1710292AD5876DC8

• In this article, written on January 18th 2019, the author expresses the growing concern about the teacher shortage in the state of Florida. The author explains how public schools from different counties have been trying to recruit teacher positions; however, the shortage of teachers has increased over the past years. Lesli Postal explains that this shortage did not used to be an issue since there were a lot of graduates from education colleges. Nevertheless, that is not the reality anymore since the enrollment and interest in pursuing an education career has tremendously dropped. It must be mentioned, that Postal states that this shortage is due to the relatively low pay for teachers in Florida. 

• The problem is the shortage of teachers for public schools in the state of Florida. 

• Who has this problem?: All of the public schools in Florida, since they are desperately seeking for teachers. Also, the State Board of Education that is urged to find a solution to this problem. Finally, the students from these public schools have this problem because they won't have the full learning experience if the teacher positions are not filled. 

• "3.2 percent drop in home sales last year - Real estate agents warned that this year could be slower as well" by Kyle Arnold of the Orlando Sentinel.

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AORLB%21Orlando%2BSentinel%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0115%21January%2B15&f=advanced&action=browse&format=text&docref=news/170F6F1B24198FD8

• In this article, written on January 15th 2019, the author states that the home sales from 2018 drop 3.2 percent in comparison to sales from 2017. Kyle Arnold explains that in the Orlando metropolitan area, sales have been in downfall since the beginning of 2018 and that there was a greater drop in sales around November and December of 2018. Moreover, the author states that the higher interest rates might be the cause of this decrease. 

• The problem is the decrease of home sales in the Orlando metropolitan area.

• Who has this problem?: Real state agents and companies that are looking forward to increase their profits by selling houses. Moreover, people interested in selling their houses have this problem too.

• "Feral Florida monkeys with 'potentially fatal' herpes could double population, scientists say" by Katey Psencik of the Gainesville Sun.

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0104%21January%2B04&f=advanced&action=browse&format=text&docref=news/170C8A3E008B86C0

• In this article, written on January 4th 2019, the author explains the fatal disease that feral monkeys in Central Florida have. The author expresses the concern about the rapidly growing population of these feral monkeys that carry a fatal herpes for humans. Moreover, the author states that eventually the state of Florida would need to create new solutions because of the threat these monkeys represent. 

• The problem is how fast these infected feral monkeys are breeding.

• Who has this problem?: Anyone who lives in Central Florida have this problem since the feral monkeys are rapidly doubling their population. 

• "GPD: More unlocked vehicles burglarized" by K.O. Frost of the Gainesville Sun. 

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0107%21January%2B07&f=advanced&action=browse&format=text&docref=news/170D8BC4164DF9E8

• In this article, written on January 7th 2019, the author explains the current situation Gainesville is going through with respect to vehicle burglary. The author states that over a weekend more than five unlocked cars and scooters were stolen. Moreover, the author explains the current actions the Police is taking in order to prevent crimes in Gainesville. 

• The problem is the constant vehicle burglary in the city of Gainesville. 

• Who has this problem?: Anyone who lives in Gainesville. 

• "Off-the-charts rain prompts flood worries" by Cindy Swirko of the Gainesville Sun. 

• https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2018%212018/mody%3A0829%21August%2B29&action=browse&format=text&docref=news/16E2510C87BAF548

•  In this article, written on August 28th 2019, Cindy Swirko explains some of the Hurricane Irma's consequences in North Central Florida's aquifer. The author expresses how the aquifer being full could create floods in certain areas. Moreover, Cindy states that any rain event could increase the high water levels in low-lying areas. 

• The problem is that rain events could create floods in different low areas in Florida. 

• Who has this problem?: Anyone living close to rivers and in low-lying areas since they are in risk of flood. 

4A – Forming An Opportunity Belief

I believe there is an unmet need of a convenient home or mobile service for bicycle repair. A large amount of students in UF who own a bike and of course bicycle enthusiasts outside campus have this need. This need is certainly new because the use of bicycles is part of this eco-friendly fast growing trend. Using bicycles instead of cars does not only help the environment, but also is a way to stay healthy and avoid traffic. Therefore, the use of bikes have tremendously increased among students. There is currently a company in Orlando working to satisfy this need. This company is called "Velofix" and is rapidly growing in America. However, there is no home or mobile service repair for bicycles in Gainesville yet. The increasing amount of students using bicycles creates a business opportunity for a more convenient service repair. I believe there is a 50% chance this opportunity exists. 

#1: Mid-twenties male who owns bicycle since 2015.

How often do you use your bike?

At least five times a week. 

Did you ever worry your bicycle might malfunction on your way to work/classes?

Yes, it has crossed my mind. 

How many times did your bicycle broke in the past year?

"Twice". And were you able to fix it immediately? "No, it took me a week or so." 

Would you consider fast service as a factor that determines which bike shop to go to?

"Yes." And why? "Because I want to fix it as soon as possible. 

Would you say that your bike shop offers you a complete service? 

"Yes" How? "They make a full diagnosis."

Would you prefer if your bike shop offered a mobile or home service instead?

Yes, as long as it is affordable. 

REFLECTION: This prototypical customer proved that students might be more interested in saving money than saving time. Moreover, this person seemed pretty comfortable with how his current bike shop works.

#2: Young college girl who owns bicycle since she moved to Gainesville.

How often do you use your bike?

Like two times a week. 

Did you ever worry your bicycle might malfunction on your way to work/classes?

Yes, but I don't use it much so not really. 

How many times did your bicycle broke in the past year?

I got my bike last semester and I haven't had any issues yet.

Would you consider fast service as a factor that determines which bike shop to go to?

"Yeah, I would say so." And why? " I will rather have my bike cleaned or fixed by tomorrow than by the end of the week."

Would you say that your bike shop offers you a complete service? 

"I think so" How? "They were really helpful when I bought my bike and they explain me how to maintain it."

Would you prefer if your bike shop offered a mobile or home service instead?

Yeah, that would help a lot if I need my bike for a class that is far from the bus stop. 

REFLECTION: This person might not be a good prototypical customer since despite owning a bicycle, she really did not use her bike as much as other students. However, I learned that students show an interest in fast and easy services. Moreover, this person proved that students might prefer services that are self explanatory.

#3: Mid-twenties Hispanic male who owns bicycle since 2016.

How often do you use your bike?

Almost everyday.  

Did you ever worry your bicycle might malfunction on your way to work/classes?

Yes, but I am pretty good with my tools. My dad taught me how to fix bikes. 

How many times did your bicycle broke in the past year?

"Once or twice". And were you able to fix it immediately? "Yeah, once I got home I was able to fix it" 

Would you consider fast service as a factor that determines which bike shop to go to?

When I need one, yes.

Would you say that your bike shop offers you a complete service? 

"When I need bicycle parts, yes" How? "It is quicker than Amazon. If I order it from Amazon it can take two days or more."

Would you prefer if your bike shop offered a mobile or home service instead?

I don't think I could afford a home service and I don't think I need one either.

REFLECTION: This student was really comfortable with his own skills and made me realize that repairing bikes is a skill that can be easily obtained through Google or YouTube. Moreover, this student seemed more worried about his expenses than obtaining new services.

SUMMARY:

I think the opportunity could still be there if we receive feedback from a greater amount of students. However, this exercise made me realize that there might not be enough people interested in getting fast and mobile services for their bikes. Moreover, the skills needed to repair these bikes can be obtained through the internet, which is not favorable to this opportunity. After completing this assignment, I could say that most of the students prefer time saving services; however, if they have the right skills they are able to save money and repair their bikes by themselves. I believe customer feedback is critical for any business idea to prosper, since without clients there is no business at all. Business are required to know and adapt to the unmet needs of customers. There has to be constant studies made to get the right feedback from the evolving ideas customers have.

3A – Your Entrepreneurship Story

All my life I have been surrounded by entrepreneurs. For instance, my grandparents own an small agricultural business in Huancayo, Peru. They started as farmers and slowly created their own market on the streets of a small town in Huancayo. I am always amazed by the passion and knowledge they both have about how to cultivate corn or potatoes. They never grew bigger; however, seeing the hard work they put on every cultivation is something I look up to. As I mentioned before, I grew up in a family with many entrepreneurs. My parents also found a way out of poverty due to their business skills. They both worked hard to bring money to feed my sister when she was a baby. However, their technical jobs were not enough for the expenses they had. After conducting a market research and consulting with a family friend, they were able to find a locale where they installed their first retail store. My parents' business went from selling underwear, to jewelry, to clothes for kids, and ultimately thrived selling cocktail dresses. They worked hard to succeed but when a business idea was not good enough, they had to grow their portfolio. They currently own two stores for cocktail dresses and three stores for girls’ clothes.

My parents enjoying themselves :)

The main reason I enrolled in ENT3003 was that I never understood the difference between Entrepreneurship and Management. I had a misconception in my mind that those two subjects were the same, until I watched the lectures. Additionally, my adviser recommended me this class as an elective. I hope to keep understanding the concept of Entrepreneurship and also to learn the right tools to create successfully my own business.

Assignment 2A – Bug List

Assignment 2A – Bug List

1. My roommate taking and eating my eggs without asking me first

Why does this bug exist?: My roommate does not have a car; therefore, it is more difficult for him to do groceries every week. Moreover, he might have felt entitled to do so since he once shared his lunch with me. 

      2. Not being able to do walk-ins to consult with an adviser during the first week of class.

Why does this bug exist?: During the first week of classes there are a lot of students trying to consult with advisers about what classes they should add or drop. 

      3. Having to walk three blocks to the laundry building of my complex. 

Why does this bug exist?: Designing all of the apartments with in-unit washer machines and dryer machines would have been more expensive than creating a laundry building and charging per load. 

      4. How far the bus stop for bus 33 is from the Heavener Hall.

Why does this bug exist?: Since the bus makes a loop around the Heavener Hall, the RTS planners did not want to put a bus stop because it would call for swift maneuvers which is not recommended for a bus of that size.  

      5. People not using their blinkers when they are driving.

Why does this bug exist?: This might be due to the lack of law enforcement from the state and police.

      6. Not having enough leisure time to watch my favorite novela.

Why does this bug exist?: I am a new transfer student; therefore, there is a lot of new and more important stuff to learn and adapt to in order to be an academically successful  student. 

      7. Having to take online classes that are essential for my major that I will rather have fully on campus.

Why does this bug exist?: The vast amount of students in the Warrington College that are trying to satisfy their core classes makes unattainable to have only on campus classes. 

      8. The lack of affection from my cat.

Why does this bug exist?: We recently moved to a new house in Gainesville and the change of environment might be affecting him.

      9. The lack of Peruvian restaurants in Gainesville.

Why does this bug exist?: There is not a large Peruvian community in Gainesville, in comparison to South Florida or Orlando.

      10. Having to sit on the floor during my Principles of Marketing class.

Why does this bug exist?: This class is really interesting for me and many other students. Not only the class material is clear but also the professor. Moreover, most of the students get to the class fifteen minutes before to find seats.

     11. Touching wet door handles when opening public bathrooms. 

Why does this bug exist?: In order to get in and out of most of the public bathrooms, one must touch the door handle. This might be due to how the doors in bathrooms are designed to be completely closed after being used. 

     12. The neighbor that rives his loud truck's engine every morning at six AM. 

Why does this bug exist?: My neighbor probably goes to work every morning at six AM. Moreover, my complex is built out of wood and his engine is modified; thus, it is much louder than it is supposed to be. 

     13. My boyfriend's loud conversations over the phone when I am doing homework. 

Why does this bug exist?:  Our apartment is made out of wood; therefore, it is likely to hear conversations even if we are not in the same room. 

    14. Making my shoes dirty on the way to the bus stop.

Why does this bug exist?: I tend to take the dirtier but faster route to the bus stop. It saves me time to do other stuff; however, my shoes get stained with mud.

    15. The large amount of stray dogs I saw wandering around back in my country. 

Why does this bug exist?: There is lack of respect towards animals in my country. Dogs or pets are usually seen as items that can be disposed of. Thus, the government does not show any willingness to solve this issue. 

    16. Not being able to live with my 9 year old dog. 

Why does this bug exist?: My dog does not live in the USA and he is an old dog who requires great care and medical attention , which is difficult for me to accomplish given that I am an undergrad student. 

     17. Ads interrupting while listening my favorite playlist on Spotify. 

Why does this bug exist?: Spotify needs to make profit out of giving free access to unsubscribed people by interrupting people's playlists with paid ads.

     18. Not having the option of doing Uber Pool in Gainesville. 

Why does this bug exist?: Uber drivers in Gainesville might have realized that they make less  money by accepting Uber Pool rides than UberX rides. Therefore, Uber removed that option out of this area. 

   19. Not having an international airport in Gainesville that could offer me direct flights to my country. 

Why does this bug exist?: There might not be enough people interested in international flights. Thus, building an international airport in this small city might result in a loss rather than a profit. 

   20. Me spending almost two hours in Instagram everyday

Why does this bug exist?: Instagram is a highly addictive app where news, photos, and videos from my friends or famous people are posted. Moreover, this app offers this appealing platform to keep people scrolling through the advertising filed feed.

Reflection:

This assignment resulted surprisingly challenging for me. I am not used to focus on the issues I confront on a daily basis since I constantly find myself busy with my studies or my family . This exercise made me realize how unaware I was from my own environment. Like many students or workers, I was ignoring an important part of my daily life , which are the things I dislike and might be able to fix or not.

This assignment installed on me the necessity to view the world in a different but helpful way. Furthermore, it made me realize how some things I dislike are mainly my fault; thus, easier to fix. As a student seeking a major in business , this assignment portrays in a simple way how entrepreneurship works in the real world.