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.
Adam, your opportunities when it comes to economic and regulatory trends is spot on and innovative. I felt a connection with your post from the first example because I had a similar idea. That idea was about how cheap labor is outside the United States compared to America. I believe and I know from this post you believe this presents a great opportunity for every entrepreneur.
ReplyDeleteAdam,
ReplyDeleteI really enjoyed how all your articles were relatively about similar topics, I think it helped really flow from one article to the next throughout the assignment. I also think you did a great job describing the level of difficult for each opportunity and explaining why you thought it would be easy or hard. The information you presented was laid out nice and the information was brief and to the point which was also easy to understand.