Identifying Opportunities in Economic & Regulatory Trends

1.    American companies are outsourcing their work to foreign countries because the labor is cheaper overseas as well as the tax on American corporations is so high.

a)    I found this economic trend when searching the web.

b)   I believe this calls for an opportunity because this outsourcing leads to Americans losing their jobs as the companies they work for take their labor elsewhere. 

c)    The customer for this opportunity is those Americans that have lost their jobs due to outsourcing. 

d)   This opportunity has been long-discussed and is very difficult to overcome.  It starts with our government taking the right steps to lower taxes for American corporations.

2.    With all of the technology today, small companies have the opportunity to increase their market as well as their advertising.

a)    I found this by looking on social media platforms and seeing advertisements for all of these small clothing companies.

b)   I believe this opportunity exists because so many small start-up companies, whatever industry they may be in, need to get there product out to the masses. People are not going to purchase a product they have never heard of or seen before.

c)    The customers of this opportunity are those small business owners looking to expand their market and increase their sales. 

d)   I feel this opportunity can be both easy and difficult. It can be easy to put your company out in advertisements on social media and other platforms, but getting those potential clients to follow through and purchase your product can be tough.  

3.    The state of Florida has lowered worker’s compensation insurance rates by 13.8% from last year.  This leads to insurance companies needing new clients to meet their income needs.

a)    I found this unmet need by searching for new state laws in Florida for 2019.

b)   I believe this opportunity for insurance companies exists because they are losing a substantial amount of income by the state reducing the insurance rates by such a large margin.

c)    I believe the insurance agencies are the biggest customers to this opportunity.

d)    This will be difficult to accomplish due to people not needing as much worker’s compensation with all of the safety laws in place, preventing people from getting as injured as they used to on the job.  

4.    With the government shutdown, farmers are not receiving the disaster relief they need from the recent hurricane that came though the state of Florida. 

a)    I found this opportunity in the previous assignment when reading local news articles.

b)   This leads to an opportunity because farmers are not receiving the help needed to assist them in producing enough crops for the demand.

c)    The customer for this opportunity could be private disaster relief agencies not funded by the government. 

d)   This opportunity could be relatively easy if such agencies already exist; however, this opportunity would prove difficult if private disaster relief agencies do not exist. Trying to build a company to aid the farmers before the government shutdown ends is not likely to occur. 

Identifying Local Opportunities

1.    “Floridians Expect Better”

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASPTB%21Tampa%2BBay%2BTimes%2B%2528FL%2529/year%3A2019%212019/mody%3A0124%21January%2B24&f=advanced&action=browse&format=text&docref=news/17127B1213C91FE0.

This article discusses how the government shutdown is affecting the lives of all Floridians. With the government shutdown, farmers are not receiving disaster relief from the recent hurricane.  The government shutdown also prevents the FDA from operating, allowing unsafe food to be distributed to the public which could potentially create a massive illness. This problem relates to all Floridians, as we could all potentially be negatively affected by unsafe food.

2.    “Mega-development would threaten the Florida panther’s very survival”

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0123%21January%2B23&f=advanced&action=browse&format=text&docref=news/17124FD4F73C6950.

Large landowners in eastern Collier County - the Florida panther’s most important habitat – wish to build a massive development.  Building this residential area would force so many Florida panthers out of their natural habitat, increasing the likelihood of their extinction.  

3.    “Florida really is among the worst states for highway safety”

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0123%21January%2B23&f=advanced&action=browse&format=text&docref=news/17125038515E1350.

Driving on the highway in Florida has always been difficult due to the crazy drivers that are on the road.  But this isn’t just because drivers on the road are crazy, but because Florida ranks among the worst states on how well road and safety laws are enacted and enforced.  There are very few safety laws in place in Florida, and this is a danger to all people traveling on the roads. 

4.   “Workplace safety violations at UM dining hall add up to proposed $134,000 in fines”

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0123%21January%2B23&f=advanced&action=browse&format=text&docref=news/1712337837FF5F78.

In August, the dining halls at the University of Miami underwent a safety inspection and were fined an estimated $134,000 due to their workplace safety violations.  This is a danger to the employees of the dining hall because the environment in which they work was hazardous.  The employees were not properly instructed on how to handle hazardous chemicals as well as the exit doors did not swing outward, but inward; therefore, making it unsafe if there were ever a fire.  

5.   “A Florida politician is condemned for ‘hate speech.’  She says her life is in danger.”

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0123%21January%2B23&f=advanced&action=browse&format=text&docref=news/17124FD5541E9AB0.

Annabelle Lima-Taub, a Florida commissioner, posted on Facebook that Rep. Rashida Tlaib may become “a martyr and blow up Capitol hill.”  Tlaib is one of the first Muslim women elected to join Congress in November.  Lima-Taub has been deemed hated by her commissioner colleagues and protests have risen after her hate speech.  Lima-Taub has supporters of her statement, but she claims she has been receiving death threats and is afraid for her life.  She feels that she is unsafe and that Islamic groups wish her dead.  

Forming an Opportunity Belief

           I live in a house with 47 of my friends, and in this house is only 2 sets of washing machines and dryers. I believe that there is a conflict for each individual residing in the house whenever they need to wash their clothes. There never seems to be an open washing machine because there are so few machines for the amount of people they serve. 

            I first interviewed myself by reflecting upon the four questions in part 4 of this assignment.  I found that I think of this need for more washing machines at the end of each week, when my laundry basket gets full.  I then begin to regret having to wait for the washing machines to be open so I can wash my clothes.   I first realized this was an issue after the first few weeks of moving in last fall semester.  To fix this need, I typically go up to the laundry room to see if any machines are open before I haul my entire basket of clothes up two flights of stairs only to find the machines are full.

            Next, I interviewed my roommate.  He had very similar answers to me but differed in a few responses. He claimed to think about the fact that we don’t have enough washing machines almost every time he looked at his laundry basket sitting in our room.  He too checks the laundry room before taking his basket of dirty laundry all the way upstairs.  

            My next interviewee was someone who lives upstairs near the laundry room.  Their answers to my questions differed more than my roommate and I’s answers, but not by much.  He claimed to have been aware of the issue since moving in as well; however, he does not worry about when he will find an open washing machine because he can just check the laundry room at his convenience because he passes by the door every time he goes to his room.

            Finally, I interviewed our house mom.  She has been aware that there are not enough washing machines since becoming our house mom.  Her room is the farthest from the laundry room, so she faces the most difficulty having to travel across the entire house to check if any machines are available. The one thing that stood out to me was that she is working to purchase more washing machines and dryers for our house to ease this issue.  

            After interviewing several of the people I live with and getting their feedback, I have altered my solution.  Originally, I felt that simply adding more washing machines in our current laundry room would be sufficient.  I now feel that it would be even more efficient to make another laundry room downstairs, allowing the upstairs to not be so congested with people walking up and down the stairs with their clothes.  

This exercise has revealed to me that it is important for entrepreneurs to be able to adapt their visions to meet the needs of everyone, not just themselves.  

Entrepreneurship Story

           My first introduction to entrepreneurship occurred when I was in the 8^thgrade.  I had grown up mowing my yard, and my family friend reached out to me and asked if I wanted to mow his yard as well.  I accepted his offer and would use my own equipment when working on my yard, and then I would use my family friend’s equipment when mowing his yard.

            We all lived in the same neighborhood, so it was easy to get to his house.  Soon enough, the neighbors of my friend all hired me to mow their yards as well.  Once this began, I purchased better equipment in which I started bringing around to all of the yards I mowed.  I lived in a golf course community and my family had our own golf cart.  I was too young to drive a real car so I would load all of my equipment on my golf cart.  

            I quickly realized that I had acquired too many yards to mow for just myself; therefore, I hired my friend who also lived in my neighborhood, who was old enough to drive.  He owned a truck, so we would load up all of the equipment in the morning in his truck and go around mowing yards on the weekends.  I did this all throughout high school and stopped just before coming to the University of Florida for my Summer B semester. 

            While the job I had was not an official position nor a real company, I gained valuable experience in learning how to communicate with clients and employees. It taught me time management and disciplined me to focus on what I needed to accomplish. 

            I enrolled in this course not only because it was an easy elective that got me enough credits to be considered a full-time student, but the skills acquired from this course are very beneficial.  I have never had the desire to start up my own company, mainly out of fear due to my insufficient knowledge of the business world.  I hope this course can teach me more about how to turn my ideas into reality and I look forward to gaining a valuable understanding for entrepreneurship. 

Bugs

After thinking very long and hard about twenty things that really bug me, I have developed a list that I feel is very accurate for myself.
1.  People driving will make a turn, but not use their turn signal.  This is due to either the person behind the wheel forgetting to use their blinker, or just the fact that they don't think they need to use it because they assume everyone else knows they are turning because they slowed down.
2.  At any point in the day, the traffic around Gainesville - especially on Archer Road and 13th Street - is very congested.  This is because there are over 50,000 UF students in the city as well as all of the Alachua county residents who all travel in this small area.
3.  The lines at midtown bars are at least a 30 minute wait by 9pm on any given night.  This is due to so many people wanting to go out and spend time with their friends, but only go to certain bars because the other bars in midtown have too high of drink prices.
4.  At the crosswalk on Museum Road in front of the Reitz Union, people will walk very slowly across on their phones, holding up traffic.  This is because they are unaware of the effect their slow walking has on the traffic.
5.  I am allergic to gluten and when trying to find a quick bite to eat, I have to look for specific fast food restaurants because there are only a few that cater towards gluten free customers.  Many fast food restaurants do not think carrying gluten free options - which are more expensive than regular options - is profitable because so few gluten free customers come by each day.
6.  People who chew with their mouths open make a loud noise and it is unpleasant to see the food in their mouths.  They do this because they were not disciplined to close their mouths when they chew, and they may not be aware that they are even doing it.
7.  When sitting at a traffic light and the person in front of me is on their phone, the light will turn green but they do not go because they are not looking at the road.
8.  When I go to park my scooter on campus, people will sometimes park their scooter at an angle, preventing me from being able to park there.  They do this because they do not want to have to worry about people hitting their scooter when they park.
9.  People in my house will use the restroom and not wash their hands after.  They do this because either there is no soap, or because they don't believe their hands are dirty.
10.  At the gym, people using a machine I am waiting for will sit on their phone for extended periods of time, causing me to wait even longer for the machine.  They do this because they are unaware of people waiting for the machine they are on.  They also get sidetracked when on their phone and lose track of time.
11.  The traffic back home on Bloomingdale Ave has gotten so bad that it takes over 20 minutes to travel 3 miles.  This is because the traffic lights only stay green for a few cars to go through.
12.  In group meetings, talking can get out of hand to where the leader cannot even be heard.  This can be due to the leader asking a question and then everyone speaks out at once, or just because everyone begins having their own conversations.
13.  I get phone calls from random salespeople, trying to get me to purchase their product.  This occurs because some apps give out your phone number when you sign up through them.
14.  I will scroll through different social media platforms to find a plethora of arguments over the smallest things.  People feel that they can alter someone else's ideals through a tweet or Facebook debate.
15.  If I take a detour when using Siri to help guide me, she continually yells at me to turn around, instead of creating an alternate route.  This is the way the iPhone was programmed.
16.  People will walk their dog but not pick up after them.  They believe the dog's feces will biodegrade over time.
17.  The door to my bathroom is very heavy and difficult to open, especially from inside the bathroom.  The door is made of solid wood, not hollow, and does not have an automated assist on it.
18.  Dust collects way too often on all my things in my room.  The air vent is not cleaned as often as it should be.
19.  During the summertime, my classrooms are always very hot, making them uncomfortable to be in.  This can be due to poor insulation or because the professor has the AC turned up.
20.  The drawers on my dresser are very difficult to open and squeak when I open/close them.  The dresser is very old and made of solid wood, making the drawers heavy.

Determining 20 things that bugged me took much longer than anticipated.  I had assumed I would easily think of 20 things that I felt were annoying in no time.  I found myself struggling after thinking of just 5 things.  I ended up discussing with my roommates to help spark ideas.  Overall, I found that this assignment has allowed me to look at society with a more improvement-based philosophy, looking to fix things that have unmet needs.

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