Who: After five more interviews, I discovered that some people and businesses fall outside the boundary even though the opportunity could benefit them in the long run. The people that fall outside of the boundary are those who are simply not interested in the alternative product whether it be that they want to stop vaping completely or if they do not care about the health risks and continue to use their usual products. The businesses that fall outside the boundary are those who have already put out their seemingly harmless products.
What: I think that my need differs from others in that even though it does not solve the entire problem with the vaping culture in our society, it will save lives in the long run. With something as prevalent as vaping in our society, a change needs to be made for the better. Interviewee #4 shed some light on the issue and I could not have agreed more with what he said. He told me how he believed that vaping will be part of our society for a very long time and that even if these devices are banned, people will find a way around it like they do with so many other things.
Why: Those outside the boundary are those who do not feel the need to commit to this product for whatever reason. They might feel that the products they use or the products they sell are not actually all that harmful. Others might not be interested in the existence of nicotine at all. The people and businesses inside the boundary are those willing to trust this new product and also know the importance and longevity a product like this can sustain.
Inside the Boundary:
-Who is In: Those interested in a safer alternative to cigarettes/electronic cigarettes
- What the Need is: The need for a safer way to consume nicotine
-Why the Need Exists: Nicotine/Vaping is something that will not diminish quickly whatsoever and people are being harmed by these products and an alternative must be made
Outside the Boundary:
-Who is Not: Businesses who believe they already have found the solution to vaping or people who are not interested in this market.
-What the Need is Not: This need does not fulfill or satisfy the solution to end vaping or nicotine consumption. It simply reduces the risk of it.
-Alternative Explanations: N/A
Friday, September 27, 2019
Friday, September 20, 2019
8A- Solving the Problem
The opportunity I selected was the consumption of nicotine mainly through the usage of electronic cigarettes. The issue at hand is that these companies claim that their products are harmless when in fact they can cause serious health issues and even death.
A product that could solve this problem indefinitely would be a electronic cigarette of some type that is 100% harmless. Companies such as JUUL saw an opportunity with how harmful cigarette smoking is and all of the extreme health risks people take just to get their nicotine fix. They took that opportunity and made their seemingly harmless product whose tagline is "The Alternative to Adult Smoking". Now that JUUL has been proven harmful, there is an opportunity to fix this problem yet again. I think that a proven harmless alternative to these products would save many lives and keep these consumers happy.
A product that could solve this problem indefinitely would be a electronic cigarette of some type that is 100% harmless. Companies such as JUUL saw an opportunity with how harmful cigarette smoking is and all of the extreme health risks people take just to get their nicotine fix. They took that opportunity and made their seemingly harmless product whose tagline is "The Alternative to Adult Smoking". Now that JUUL has been proven harmful, there is an opportunity to fix this problem yet again. I think that a proven harmless alternative to these products would save many lives and keep these consumers happy.
7A- Testing the Hypothesis, Part 1
A completely harmless alternative to electronic cigarettes
- Opportunity
- Teenagers as well as those looking for a harmless alternative to cigarette smoking have turned to electronic cigarettes such as JUUL for their daily nicotine cravings, but the seemingly harmless products have been recently found out to be not as harmless as the producers are claiming. There is definitely an opportunity for the creation of a harmless way to consume nicotine. Some might think that there is an opportunity for a similar product that includes no nicotine at all, but from personal experiences in both my hometown and the Gainesville community, I believe that there is not a feasible alternative that does not include nicotine.
- The Who- Mainly teenagers who use these products
- The What- They are victims of the electronic cigarette epidemic and liable to illness and physical harm
- The Why- The seemingly harmless way to consume nicotine is a convincing and inviting advertisement ploy that actually lures in customers.
- Testing the Who
- Teenagers as well as anyone who uses products with nicotine.
- Testing the What
- The electronic cigarettes are an extremely popular product and is used recreationally by many teens. Recent news has shed some light on the dangers of these products and has really put the whole "vaping" thing into perspective.
- Testing the Why
- Why people use electronic cigarettes is quite an easy question to answer. People smoke cigarettes as a form of stress relief, so when a product comes along claiming that it gives people the same stress relief as a cigarette and also claims to be completely harmless, people are going to buy it.
Interview 1: For my first interview, I chose one of my classmates from Spanish class. He has never used electronic cigarettes or any form of nicotine consumption for that matter. He is aware of the the false marketing for electronic cigarettes and seems to be quite upset with it. He views this whole issue as fraudulent and deceiving. He said he would like to see a harmless alternative even though it would not affect him personally. He would like for this whole electronic cigarette issue to just not be a thing altogether. I figured that he meant he wanted nicotine to be outlawed entirely.
Interview 2: I interviewed a kid who I saw walking in the Reitz Union. His name is Kyle and he confessed to previously being a JUUL user. He said that he never really noticed any differences in his physical and mental health while using these products, but was scared of the recent news like many others and has stopped using electronic cigarettes. He says it has not been as hard as he thought to get off nicotine and is happy with his decision. I followed this up by asking if he would ever think about purchasing a 100% harmless way of "vaping" if such a thing were ever invented. He said it would be enticing, but he would try to refrain from using.
Interview 3: My next interviewee was a girl named Alyssa who I had a class with last year. She has also never used any nicotine products and is kind of indifferent to the situation as a whole. She frowned upon the whole false advertising similarly to my first interviewee, but she says people can do what they want since they are only harming their own bodies. I mentioned the opportunity at hand and she said that even though she would never use such a product that she believed that many others would.
Interview 4: I decided to interview an adult so I had some variety in the age demographics. I did not want to bother any of the professors or faculty here at the University so I chose instead to call one of my mom's friends, who I am somewhat close to also. This proved to be one of my worst ideas ever as I received a 35 minute rant from Debra. By the way, her name is Debra. Debra is very against the idea of electronic cigarettes and has definitely been doing her research on the topic. She reminded me of all the health issues that these teenagers are already showing signs of due to inhaling nicotine. I think it is safe to say that Debra could never be convinced of a harmless alternative product.
Interview 5: For my last interview, I chose this kid from across the hall in my dorm named Connor. He told me straight up that he occasionally purchases and uses these disposable electronic cigarettes called "Stigs". He has heard all the news and was initially scared by it, but eventually brushed it off as fake news. He still knows of the health risks though so I mentioned the opportunity of a harmless alternative and he said he would be a willing customer.
Summary: After completing these interviews, I have found out that the opportunity is definitely there, but it might not be quite as big as initially envisioned. I believe that the opportunity is still there because some people simply cannot give up nicotine and if there is a way to make that 100% harmless, people would be interested. The way I see it is that people find their way around dozens of alcohol and drug related laws, and a law banning nicotine consumption would be no different. I see that the best opportunity would be to develop a harmless method that can eventually even save lives.
Thursday, September 19, 2019
6A- Identifying Opportunities in Economic and Regulatory Trends
Regulatory Trends:
Electronic cigarette epidemic, causing serious health issues
https://time.com/5680988/juul-vaping-health-crisis/
-There is definitely an opportunity here because electronic cigarettes such as JUUL are very prevalent in today's society especially in teenagers. There is also an opportunity due to the fact that these products are dangerous and can ultimately lead to shortened life spans and other health risks. If a harmless product could be manufactured and sold and was scientifically proven to be safe, the opportunity is huge.
-The prototypical customer would be anyone who has recently used electronic cigarettes
or someone who is trying to quit smoking. A large business could also be very interested in this opportunity.
-I feel that this opportunity could possibly be easy to exploit if it was made sure to be 100% harmless and still effective.
-I thought of this opportunity because it is such a big deal in our society today especially due to the recent news of how harmful these products can be. If someone could actually make this product, I believe it would be extremely successful and save more lives than most people would think.
College athletes getting paid, laws soon to be passed in multiple states
https://www.nbcnews.com/news/sports/california-sets-clash-ncaa-passing-bill-allowing-college-athletes-get-n1052886
-I do not agree with this law in a way, but I see a way that this law could be used for the better. There has been a lot of talk about whether college athletes should be able to sign endorsement deals or if the colleges they play at should just straight up pay them. In my honest opinion, I think that straight up paying college athletes is absolutely idiotic as they already have full scholarships to the universities they attend including several other benefits. I also think that if they are able to sign endorsement deals and outsiders will pay them, then that's completely fine. The opportunity I see is for this money from the university to go to perhaps scholarships for "regular" students who are struggling to pay for tuition.
- The most likely customers are any students who meet any certain requirements set for these scholarships and are struggling with tuition.
-I think that this opportunity should be easy to exploit as it seems like a huge problem that could be easily fixed, but would probably never be seen through.
-I saw this opportunity again due to the chatter about these new laws in recent news and due to personal experience with tuition especially as an out-of-state student.
Economic Trends
Climate change is sparking opportunity, especially for small businesses
https://www.worldbank.org/en/news/opinion/2016/01/13/climate-change-is-a-threat---and-an-opportunity---for-the-private-sector
-Climate change should be one of the scariest things for all humans because it is looming and is a huge problem. There are countless opportunities for businesses to help the environment and slow down global warming. Companies can find opportunities in things as simple as solar panels and eco-friendly construction.
-Large corporations would be the prototypical customer
-This opportunity might be difficult to exploit because these companies might be spending more money than they would like to even if they are helping the environment
-Climate change is basically the go-to issue for our economy with endless opportunities to think of
Baby Boomers are not Retiring
https://www.thebalance.com/top-usa-future-economic-trends-3305666
-The simple fact that the generation known as the baby boomers are not retiring is effecting our generation in a negative way. The Baby Boomers are not delaying retirement for their own enjoyment though; the recession has forced this delay. The opportunity is one that has been forced upon this generation, but it is one of technological advancements and new ways of thinking.
-The opportunity is one for mostly the new generation or people who have trouble finding jobs due to Baby Boomers delayed retirement.
-This opportunity should be easy to exploit as it has really already begun and they are used to having to think outside the box and struggling to find jobs.
-This problem is one that many people have experienced and is a problem that we will soon face when we begin our journey into the "real world".
Electronic cigarette epidemic, causing serious health issues
https://time.com/5680988/juul-vaping-health-crisis/
-There is definitely an opportunity here because electronic cigarettes such as JUUL are very prevalent in today's society especially in teenagers. There is also an opportunity due to the fact that these products are dangerous and can ultimately lead to shortened life spans and other health risks. If a harmless product could be manufactured and sold and was scientifically proven to be safe, the opportunity is huge.
-The prototypical customer would be anyone who has recently used electronic cigarettes
or someone who is trying to quit smoking. A large business could also be very interested in this opportunity.
-I feel that this opportunity could possibly be easy to exploit if it was made sure to be 100% harmless and still effective.
-I thought of this opportunity because it is such a big deal in our society today especially due to the recent news of how harmful these products can be. If someone could actually make this product, I believe it would be extremely successful and save more lives than most people would think.
College athletes getting paid, laws soon to be passed in multiple states
https://www.nbcnews.com/news/sports/california-sets-clash-ncaa-passing-bill-allowing-college-athletes-get-n1052886
-I do not agree with this law in a way, but I see a way that this law could be used for the better. There has been a lot of talk about whether college athletes should be able to sign endorsement deals or if the colleges they play at should just straight up pay them. In my honest opinion, I think that straight up paying college athletes is absolutely idiotic as they already have full scholarships to the universities they attend including several other benefits. I also think that if they are able to sign endorsement deals and outsiders will pay them, then that's completely fine. The opportunity I see is for this money from the university to go to perhaps scholarships for "regular" students who are struggling to pay for tuition.
- The most likely customers are any students who meet any certain requirements set for these scholarships and are struggling with tuition.
-I think that this opportunity should be easy to exploit as it seems like a huge problem that could be easily fixed, but would probably never be seen through.
-I saw this opportunity again due to the chatter about these new laws in recent news and due to personal experience with tuition especially as an out-of-state student.
Economic Trends
Climate change is sparking opportunity, especially for small businesses
https://www.worldbank.org/en/news/opinion/2016/01/13/climate-change-is-a-threat---and-an-opportunity---for-the-private-sector
-Climate change should be one of the scariest things for all humans because it is looming and is a huge problem. There are countless opportunities for businesses to help the environment and slow down global warming. Companies can find opportunities in things as simple as solar panels and eco-friendly construction.
-Large corporations would be the prototypical customer
-This opportunity might be difficult to exploit because these companies might be spending more money than they would like to even if they are helping the environment
-Climate change is basically the go-to issue for our economy with endless opportunities to think of
Baby Boomers are not Retiring
https://www.thebalance.com/top-usa-future-economic-trends-3305666
-The simple fact that the generation known as the baby boomers are not retiring is effecting our generation in a negative way. The Baby Boomers are not delaying retirement for their own enjoyment though; the recession has forced this delay. The opportunity is one that has been forced upon this generation, but it is one of technological advancements and new ways of thinking.
-The opportunity is one for mostly the new generation or people who have trouble finding jobs due to Baby Boomers delayed retirement.
-This opportunity should be easy to exploit as it has really already begun and they are used to having to think outside the box and struggling to find jobs.
-This problem is one that many people have experienced and is a problem that we will soon face when we begin our journey into the "real world".
Friday, September 13, 2019
5A- Identifying Local Opportunites
Identifying Local Opportunities
1. "Biker caught stealing plants from Satchel's Pizza"
Apparently Satchel's Pizza has had an ongoing issue with people stealing their plants. This biker was caught on video stealing three plants outside of the pizza joint. The owner of the restaurant claims that more than 20 of his plants have been stolen in the last month and that he has no room for the plants inside the restaurant.
Problem: The owner of the pizza restaurant cannot protect his plants from being stolen.
People: Only the owner of the restaurant and his family are really impacted by this problem
2. "Potholes plague Gainesville"
Potholes located on the streets of Gainesville are costing people up to $300 bucks in damage. One man said it is like playing Mario Kart trying to dodge all the potholes. These potholes are mostly due to the large amount of rain.
Problem: Potholes can cause car accidents and cost people money or even injure people.
People: Anyone who drives on or around campus is affected by these potholes.
3. "Low pay for bus drivers leads to a shortage"
Many of the RTS bus drivers have been forced to work overtime as over 20 drivers have quit for various reasons this fall. Many drivers see it as unfair as they are not getting increased pay at this time. They feel as if they should be making more especially with the lack of drivers and longer hours.
Problem: RTS bus drivers are forced to work longer hours due to many drivers quitting. They lose time to hang out with their families and simply relax.
People: It mostly affects the bus drivers and their families. \
4. "The aftermath of Hurricane Michael"
Like Hurricane Dorian, Michael created quite a bit of chaos. It proved to be a very devastating storm. UF closed along with 9 other Florida universities. The storm brought the community together as people were almost excited to donate and help others.
Problem: The hurricane caused destruction and injuries.
People: The hurricane affected students, faculty, and anyone in or around the Gainesville area.
5. "RedCoach incident raises questions on bus companies' protocols"
Halle Berliant was taking a RedCoach, a popular bus company, to the Tampa airport as she noticed that they had already passed the exit for Tampa a while ago. She was hesitant to ask the driver at first. She eventually found the courage to ask the driver and she asked to be let off the bus. She would then take an Uber back to the airport. The operations manager of RedCoach spoke about how important the customers' safety is to them.
Problem: Bus driver should never have let her off the bus and should have been more alert in the first place.
People: With countless students using these bus companies, many of them are relying on these drivers to get them from Point A to Point B.
Thursday, September 12, 2019
4A- Forming an Opportunity Belief
Forming an Opportunity Belief
Step 1: I have a belief that people have a need for chargers with stronger and more protective exteriors.
Step 2: The unmet need is having a charger (Iphone, laptop, speaker, etc) that lasts for a long time and does not break or rip easily. I hear people constantly complaining, including me, about their chargers breaking within less than a year of owning it. This particular problem has existed for a while and has even become a meme since it is a problem that is so easy to relate to for most people. From my own personal experience, I believe that people are simply treating their chargers with caution and attempting to not bend the chargers in any way.
Step 3: Connor, 19-year old male who owns various chargers, also is a huge baseball fan
Step 4: Have you ever broken a charger? - Yes, more than once
How long have you had this problem? - Ever since I have had a phone
Do you notice this problem all the time or only sometimes? - Only when my cord rips
How are you currently dealing with this issue? - I usually just purchase a new charger when one begins to rip
How satisfied are you with this solution? - Honestly not very satisfied at all.
Step 3: Yuki, a 21-year old foreign exchange student from Beijing. Fun Fact: We met at Wendy's
Step 4: Have you ever broken your charger? - I believe so, yes
How long have you had this problem? - I really would not consider it a problem, but I think I had a phone charger break about two years ago
Do you notice this problem all the time or only sometimes? - Well so far only once
How are you currently dealing with this issue? - I bought a new charger
How satisfied were you with this solution? - I would rather not have to buy another one, but this solution is fine
Step 3: Troy, 19-year old male from Homestead. Wants to become a sports agent
Step 4: Have you ever broken your charger? - Yes, many times.
How long have you had this problem? - As long as I've had a phone
Do you notice this problem all the time or only sometimes? - My charger is currently ripped right now actually, but I usually only notice it when the charger is in fact ripped.
How are you currently dealing with this issue? - I put a small piece of duct tape over the tear.
How satisfied are you with this solution? - It works rather well for a while, but I have gone through many chargers despite using tape
Reflection: After conducting these interviews and also talking to friends about the issue,
I realize that many people do struggle with chargers ripping. I definitely believe that the opportunity stands. While Yuki did not seem to have much of a problem with her chargers, Troy and Connor would most likely purchase chargers with a stronger and more protective exterior as it would save them money in the future. Like Troy, I too have used tape as an attempt to fix a broken cord, but to no avail. I always ending up having to purchase a new one.
Summary: I definitely think that the opportunity is still there, but the amount of customers might be a little bit smaller than I initially thought. Not every person has that much of an issue with chargers and some people are more delicate with their appliances than others and never need to buy new ones. The new opportunity, while perhaps being smaller than before, is much more accurate. Entrepreneurs should definitely adapt their opportunities based on customer feedback. These are the people they are trying to sell to, so they should definitely see what the customers have to say. Unless sales are absolutely booming, an entrepreneur should always be ready to adapt.
Wednesday, September 11, 2019
3A- My Entrepreneurship Story
My Entrepreneurship Story
Entrepreneurship has always been a part of my life whether I knew it or not. As a kid, I would always try to make money. At the age of 12, I wanted a way to make money over the summer. A lemonade stand would have sufficed and made me a good amount of money, but I wanted something bigger. My sister and I went to the local Wal-mart and noticed a BOGO for 12-packs of soda. To make a long story short, we set up a soda stand that had 9 different beverage options. We decided to sell each can for 50 cents. This turned out to be a good decision because business was popping. Customers were attracted to the insane deals and would usually end up paying a dollar because they had no change. Also, customers would often tip (I was a good looking 12 year old). I set up this stand around 25 times that summer and was definitely the best decision my 12 year old mind could ever come up with. I ended that summer with a $600 profit (no lie) and very satisfied customers.
I decided to take ENT3003 because I am very interested in entrepreneurship and I am not opposed to becoming a business owner in the future. As someone who loves making money, I want to learn how to use my money wisely and strategically especially when it comes to starting up a business. I hope this course teaches me when to take risks and when to not take risks and how to make the most of any financial situation.
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