Friday, May 31, 2019

Assignment 7A- Testing the Hypothesis, Part 1


1.     Opportunity: People who live by themselves (e.g working single adults, college students) and who go grocery shopping are unable to purchase foods they want at the exact amount they want because grocery stores often package foods in too large of portions (e.g a single person cannot finish an entire loaf of bread by themselves within the edible time frame), which leads to people throwing away the food they cannot finish (increases food waste).

2.     Who: working adults who lives by themselves, college students
What: They are unable to purchase food from grocery stores at the exact quantity they need
Why: because grocery stores often package foods in larger portions, too large for 1 person (e.g a single person cannot finish an entire loaf of bread by themselves within the edible time frame).

3.     Testing the who: There are others who have the need such as-
a.     People who travel a lot and are always on the go, therefore they need smaller portions when they buy food because if it comes in too large of portions, the food will go bad in the time period they are gone
b.     Couples who do not have a family yet and only need enough food for 2 people
c.     People who do not like eating the same meals/foods every day. These people can buy small portions of different types of foods to prepare rather than restricting themselves to just chicken and rice with broccoli for the sake of finishing it.
Testing the what: Not all foods are applicable to include in the grocery store (e.g frozen foods) but some foods I can turn into an opportunity for customers to purchase the exact amount they want (e.g the rice will be $0.50 a pound, you put as much rice as you want into a bag, the bag is weighed at the register). Some foods are easier to include, for example: selling smaller loaves of bread.
Testing the why: Some grocery stores sell certain foods in small portions, some sell in bulk and people can go to several grocery stores to buy items they need, but there should be a single grocery store that combines both for people to select exact amounts needed. The “why” does not hold for everyone because some people may want to buy the large quantities because they meal prep the same food for an entire week, or they simply eat more. People who live by themselves may also not want to think about how much rice or meat to portion out, but rather just throw whatever is on the shelves, into the cart.

4.     After the interviews, I found that some couples or people who live by themselves enjoy only going to one grocery store to do their grocery shopping because it cuts back on time. They are willing to sacrifice certain products they love if that store offers things they deem as more important (e.g product uniqueness). After I interviewed someone who travels a lot as a part of their work and someone always on the go (because they have a tight schedule), I found out they value immediate gratification, convenience, they want something that’s easy to access and easy to take on the go which is something I have to consider from this opportunity. I have to execute a grocery store that is not only customizable to each persons living situation, but also their lifestyles (whether they cook every day, if they are willing to eat leftovers, if they want different meals every day, if they’re on the go, etc.). In addition, I learned some college students simply do not know how to cook, so they appreciate grocery stores that have “ready to heat” or “throw into one pan” type of meal kits which is another item I can add into my opportunity.


Assignment 6A- Identifying Opportunities in Economic & Regulatory Trends


Economic trends
1.     Interests Rates have Leveled Of
a.     Where I found it? I found it at The Balance in the top 6 economic trends.
b.     I believe an opportunity exists because with interests rates leveling off, the cost of loans for big purchases (e.g homes, cars, etc) are also stabilized.
c.     Customer of this opportunity? Customers include people purchasing big ticket items (as listed above) which can vary in age (e.g you can be in your late 30’s purchasing a home or in your late 20’s buying a car). They benefit from interest rates leveling off.
d.     Difficult/easy to exploit? Both. As of now, the economy does not seem to be falling back into a recession which makes it easier for people to take out loans, etc. It’ll be difficult because this is not a permanent state, it can change within the next 10 years where interest rates could be higher, no longer making loans for big purchases stabilized.
e.     Why I saw the opportunity? I saw the opportunity because this affects my big purchases. I am planning on buying a car and if interest rates are stabilized, it’ll help be take out loans if needed. I also know may people dependent on loans because often times, it’s difficult to come up with large amounts of cash for something you need (e.g an education at UF)
2.     America Is Declining in Global Economic Power
a.     Where I found it? I found it in the Balance under Top 6 Economic Trends.
b.     I believe an opportunity exists because America being behind leaves opportunities for us to catch up to other countries such as China, Russia, India. We can try to strengthen our economy to leverage more global economic power, just as they did.
c.     Customer of this opportunity? Large companies/corporations that are willing to have a domestic answer to this situation.
d.     Difficult/easy to exploit? Difficult because we are dealing with many large economic powers and, just as we are trying to strengthen their economies, they are trying to improve theirs. Many factors play a role in the gaining more economic power with the efforts divided up among several players.
e.     Why I saw the opportunity? I saw this opportunity because economics has always been interesting to me since high school, but it is a complex subject that is hard to grasp. Understanding that the U.S is just a piece of a larger picture, I believe will help us as consumers and help us learn about where our future could lead.

Regulatory Trends
3.     Gainesville delays plastic bag, Styrofoam ban
https://www.gainesville.com/news/20190329/gainesville-delays-plastic-bag-styrofoam-ban
a.     Where I found it? I found it when I was thinking about issues that are prominent on social media and how people are attempting to bring awareness to single use plastic, Styrofoam/other environmental issues.
b.     I believe an opportunity exists because the enforcement of the ban is postponed until January 1, 2020 which gives businesses in Gainesville time to come up with a solution if they are heavily dependent on Styrofoam products. Businesses will need to comply to the ban or else they will be fined $250 for each penalty, $500 in Coral Gables after the 3rd offense. Consumers are more aware of their impact on the environment therefore, they will support businesses that align with their own morals.
c.     Customer of this opportunity? Businesses that are dependent on single use plastic or Styrofoam (e.g restaurants, bars, bakeries, etc.)  are the ideal customer because they will be penalized if they continue to use Styrofoam, etc. Their customers will need to go containers, cups for drinks, etc. and the business must provide the customer’s needs by offering more eco-friendly options.
d.     Difficult/easy to exploit? The opportunity is easy to exploit because a company can create recyclable, environmentally friendly to go containers or cups and sell it to other businesses. There are already restaurants that use these alternatives which means these type of companies exist, but now with the ban in Gainesville, it will only increase demand.
e.     Why I saw the opportunity? I saw this opportunity because I try to cut the use of harmful plastics and Styrofoam in my day to day life. I find it really interesting to earn about corporate social responsibility and how we can be more eco-friendly. I am trying to be a more conscious consumer through supporting B corporations and sustainable companies because a business is more than the product or service they offer you. It is also about what that company’s morals are, therefore, I believe this ban is a great way for businesses to have a positive impact on their environment and show their customers they do.

4.     Gainesville City Commission To Discuss Affordable Housing Recommendations
https://www.wuft.org/news/2019/05/23/gainesville-city-commission-to-discuss-affordable-housing-recommendations/
a.     Where I found it? I found it as I searched through issues pertaining to UF students. I found it on WUFT.org which reports news for North Central Florida.
b.     I believe an opportunity exists because affordable housing regulations can open more options  for students or anyone in Gainesville in need of cheaper options. Most of the time, students cannot afford $900+ a month and need affordable (the definition varies from person to person) with high safety standards. A higher minimum standard will involve many companies working together to create a higher standard of living for consumers.
c.     Customer of this opportunity? The prototypical customer are people in need of housing in Gainesville that are currently living in less than great quality housing (e.g pests, landlords do not listen to their needs, discriminate, too expensive with not up-to standard housing). Another customer could be businesses willing to work with these housing areas to form higher level housing (e.g energy companies willing to work with them to maximize energy efficiency).
d.     Difficult/easy to exploit? It’ll be difficult to exploit because some energy companies do not care about energy efficiency but only about profit. Convincing them to work with housing units may be difficult. It is also a collective effort of many companies (electricity/energy/water/pest control) and getting them on the same page to form a higher standard will be a hard task.
e.     Why I saw the opportunity? . I’m sure many students have felt the same frustration of seeing housing stating one amount, but end up adding miscellaneous charges that’ll increase the rent from the original amount by $100-$200. Majority of UF students rent housing, with some exceptions that buy condos, and I’ve lived in housing that was less than great with pests, etc. The overages are through the roof and housing charging for the smallest details just to drain more money from students only trying to find a place to live. This regulation of Affordable housing with high standards will be a great change in the right direction.

Wednesday, May 29, 2019

Assignment 5A- Identifying Local Opportunities


Local Opportunity 1
Article Title: Residents ask for wall between I-4, playground
Summary: I4, a very traffic driven, high speed road that leads to almost anywhere in Orlando is causing concern for residents. The people who live close to the highway complain about the loud noises early in the morning and later in the day and fear that their children’s lives are in danger if the road is widened unless the Florida Dept of Transportation builds a wall to separate the high way from areas where their children play. However, FDOT says that if they build a wall or plant trees to drown out the noise, minor car accidents may turn major, costing the life of the driver. FDOT also stated residents knew what they were buying into. No action has been taken.
The Problem: Residents want a buffer between the dangerous highways and their children, but the FDOT does not, in fear that it’ll do more harm than good. No action has been taken to resolve or meet either side’s needs.
Who Has The Problem: The residents of the area next to the highway, because the highway is loud and dangerous and they live in close proximity. The resident’s children, because their lives are in danger if they play in the playground or around the house (which is located near the highway). The FDOT, because they have to allocate the funds and determine whether or not it is a good/worthy decision.

Local Opportunity 2
Article Title: Nearly $2.2 million set to fight hydrilla in Harris Chain of Lakes
Summary: Lakes in central Florida are being invaded by the hydrilla plant. Residents are concerned because their boats are being caught in the plants and their boat navigation is being impeded by the hydrilla, which can grow to be 10-12 feet deep. The state is looking to treat this problem with herbicides which can kill fish and other vegetation given the amount needed to eliminate the hydrilla. The treatment for several lakes can cost several million dollars with the Lake County Water Authority setting aside $1.5 million towards this problem.
The Problem: Hydrilla is taking over lakes and spreading to different bodies of water throughout central Florida, pesticides are going to be used to treat them but people are concerned it will ruin bait fish and kill many fish. With the extent to which they have invaded bodies of water, any solution will be costly.
Who Has The Problem: Lake County Government, because residents are angry that their boats will not work and the LCG have to find the funds to solve the problem. The residents near these invaded areas also have the problem because their expensive boats are being ruined given the invasive hydrilla. Lakeside Bait and Tackle have the problem because if the lakes are treated with harmful herbicide, bait fish and other vegetation can be killed which can ruin their business.

Local Opportunity 3
Article Title: Orlando airport parking provider seeks permit to bulldoze wetlands for expanded space
Summary: Park, Bark and Fly, a parking Service near the Orlando International Airport, is fighting against the Orange County Environmental Protection Division to bulldoze the wetlands in order to expand garage parking. Park, Bark and fly said that the ecological value of the wetlands have decreased because of invasive plants, airplane traffic, filthy storm water and development in the area. OCEPD argue that the wetlands have controlled water levels and increased plant growth. Action has not been determined yet as to whether or not the wetlands will be bulldozed for the continuous expansion of the Orlando International Airport.
The Problem: Should the wetlands be bulldozed for a parking garage to be built or should the wetlands be preserved? The airport/ airport parking services and Orange County Environmental Protection Division will be going back and forth to determine the solution.
Who Has The Problem: People who need to find parking at airports have the problem because they would want more parking to be built. The Orange County Environmental Protection Division have the problem because they are fighting to protect the wetlands but the situation will be reviewed by Orange County board of commissioners.

Local Opportunity 4
Article Title: Women likely to ignore signs of heart disease
Summary: Heart disease is the greatest killer in men and women in the U.S, but women are at greater risk to heart disease because any major disease is more inclined to one gender over the other due to differences in cell function. Over 400,000 women died from heart disease in 2016 alone which is more than cancer, accidents and diabetes (combined in women in the U.S). There is a misunderstanding that breast cancer is the number 1 cause of death among women and people do not recognize how common and dangerous heart disease is. Women do not acknowledge and address their issues until later on in their lives when it is definitely more dangerous to get heart surgery or other procedures.
The Problem: Women in the U.S are not as aware as they should be about the dangers of heart disease. They often ignore symptoms or do not get themselves checked out until later in their life when it is harder to treat.
Who Has The Problem: Women and men in the U.S because both genders are susceptible to heart disease, but women are at greater risk to the problem because they often dismiss the issues and the differences in cell function.

Local Opportunity 5
Article Title: Deputies: 2 teens arrested after threatening school
Summary: Two young teens were arrested after making threats to shoot up their school (Westridge Middle School), but school officials determined the threats to be not credible. A faculty member received a text from an unfamiliar number, making a threat that “violence to the school was going to happen now”. Deputies searched the school after students were evacuated to see if there were suspicious items. Orange County Sheriff’s Office states they look at actual intent in order to see if immediate action is needed. Both teens will be facing charges of written threats to kill.
The Problem: How do schools increase safety and determine if certain threats are credible? Is the safety of students at risk and how do schools increase their safety? How do you prep students for dangerous, uncalled for situations?
Who Has The Problem: Teachers/any school faculty have the problem because they have to protect the students and may lose their life if a situation were to go wrong. Students because they could be caught in a bad situation at the wrong time which can cause them to lose their lives. School deputies because they are at risk protecting the school from day to day threats or bigger threats such as school shootings. Parents also have the problem because they may be fearful of their children’s lives and safety whenever they go to school.

Friday, May 24, 2019

Assignment 4A – Forming An Opportunity Belief


Beginning point:
I believe there is an opportunity to decrease food waste when college students buy groceries they cannot finish. The unmet need is a grocery store that sells quality groceries in smaller sizes/quantities at an affordable cost. People who have the need are students who grocery shop for only themselves (no spouses or sibling to share groceries) or adults who live by themselves. When college students buy groceries (e.g bread, vegetables, cereal, hummus, other perishable foods), the foods come in larger portions and will go stale/rot/be inedible by the time the single consumer will finish. The need has always existed but I believe people haven’t thought about creating a specialty grocery store for those needs. Often times, a single consumer only needs enough for one serving. Currently, people are meeting this need of over stocking their fridge with food they cannot finish by just accepting that grocery stores do not carry smaller servings/individual servings. They simply buy the food and finish what they can and dispose of the rest (which increases food waste and our greenhouse gases). I am 70% sure this need exists.

Identifying the prototypical customer:
A prototypical customer for the new grocery store is the college student living by themselves (either in a dorm or apartment), that cooks for themselves or even a working person that lives by themselves. Anyone who cooks or buys food and finds themselves throwing away most of the food they bought because it was too much for them alone to finish, can benefit from this store.

Interviews:
Interview #1:
Type of customer: dedicated to grocery shopping, college student, lives in an apartment with 3 other roommates
1.     How often do you go grocery shopping? Why?
a.     Every week because I meal prep at the end of every week to prepare for the next one.
2.     Do you finish all of your groceries that you purchase?
a.     Yes, I use most if not all of it in meal prep but sometimes I do have leftover fruit or vegetables or milk that goes bad.
3.     What are your thoughts on when grocery stores sell you more than what you need?
a.     I’m glad they sell food in large quantities, when I meal prep, I need more than one chicken breast or more than a couple of eggs, but I do wish that some foods were sold in smaller quantities.
4.     How often do you throw away food you do not finish?
a.     I probably throw away food a couple times every 2 weeks.
Reflection- This person would be great for my opportunity but I do have to keep in mind people that meal prep that want larger portions of food when they go grocery shopping. I think now my store can be a “you only buy as much as you want” type of store (i.e if you only want a cup of rice or 1 celery stalk, you can).

Interview #2:
Type of customer: not dedicated to grocery shopping, college student living by themselves.
1.     How often do you go grocery shopping? Why?
a.     I don’t really go grocery shopping because I usually just eat out at restaurants but sometimes I’ll get groceries from Publix or where ever.
2.     Do you finish all of your groceries that you purchase?
a.     Not really, because I just buy groceries sometimes from the store and I’ll forget about it for a while since I eat out. So by the time I get to them again, I have to throw it away.
3.     What are your thoughts on when grocery stores sell you more than what you need?
a.     It sucks that food goes to waste because I don’t ever cook but when I do, I only cook for myself so sometimes I only want enough for myself, most stores don’t really sell that.
4.     How often do you throw away food you do not finish?
a.     Maybe 6 times a month, randomly, depending on how much I eat out that month.
Reflection- This person doesn’t really cook and eats out most of the time which still makes them a possible customer for the grocery store. They would not be a loyal customer since their primary focus is eating out with the occasional home made meal.

Interview #3:
Type of customer: Working person, not committed to cooking but not opposed to it, lives by themselves.
1.     How often do you go grocery shopping? Why?
a.     It depends, I only go if I feel like cooking or I try to make food with whatever I have leftover/laying around. I don’t really care about cooking.
2.     Do you finish all of your groceries that you purchase?
a.     Sometimes, I just throw something in the freezer if I think it’s about to go bad.
3.     What are your thoughts on when grocery stores sell you more than what you need?
a.     I wish stores had single serving bread or smaller amounts of food but it’s expensive to buy in single serving.
4.     How often do you throw away food you do not finish?
a.     I usually throw away milk and vegetables or whatever else, every 2 weeks.
Reflection- This person made me realized foods that people purchase often should be the focus; foods that people do not purchase often (e.g rice, seasonings, dressings) do not need to be purchase in bulk or by single serving. They also emphasize single serving foods which reinforces my idea for that.

Summary:
The idea of a grocery store that sells only as much as customers need, is still there. Though the interviews made it clear I still have to work on small details and whether I want the store to be a “single serving” store or one where customers can purchase as much as they’d like, I think it’ll be useful to give consumers more control of the quantities which will in turn reduce their overall food waste. I believe entrepreneurs should adapt to the needs of the consumers because the customers are what support the business or idea the entrepreneur. The idea can be overall the same, but small details can be adapted to what customers need more of.

Thursday, May 23, 2019

Assignment 3A- My Entrepreneurship Story









Image result for woven bracelets
In the midst of the Taki and Hollister craze in middle school, I witnessed people selling and trading silly bands as if they were contraband. Administration banned silly bands from my school because it was “distracting” and I saw a need- bracelets. I went to Joann’s, purchased a bracelet making set (with templates and an array of strings) and posted on Facebook about how people could customize their own bracelets through the design or colors they chose. The requests came in. I asked my cousin to help me because we were in the same grade, each bracelet took around 2-4 hours to make and she had a different group of friends (which would have expanded my reach). The bracelets were sold at $8-10 depending on how many colors they wanted and the difficulty/intricacy. Within 2 weeks, I made $200 which I split with my cousin, and for the next 4 weeks from there, we made $50 per week. Though I did not create a new product, I saw a need and filled that need; in all, we made $400 in 6 weeks ($200 per person) which was an unfathomable amount of money to a 13 year old.

I enrolled in ENT3003 because the idea of entrepreneurship has always excited me. My parents were entrepreneurs in Vietnam and seeing them work from nothing to building a successful textile business, inspires me. I hope to learn how I can turn my ideas/needs to viable business options, the biggest problems entrepreneurs face and what I can do to maximize a business plan.

Saturday, May 18, 2019

Assignment 2A- My Bug List


1.     Getting into your car on a hot day and touching the metal part of the seatbelt.
a.     Why it exists- the metal part gets hot because of the sunlight directly shining into your car, then the heat trapped in your car heats up the metal seat belt buckle.
2.     Getting water all over the sink area after washing your face.
a.     Why it exists- The water runs down my elbows as I splash water on my face which is one way the water gets on the area around the sink. It also exists because the sinks are shallow so when I wash my face the water splashes back onto the counter.
3.     My eyes hurting from reading online textbooks.
a.     Why it exists- When our eyes stare at a computer screen for too long, the blue light from the screen penetrates to the retina that can cause damage and strain to your eyes with prolonged use.
4.     By the time I eat half of the groceries I buy (e.g a loaf of bread, container of strawberries), the other half has gone bad.
a.     Why it exists- College student usually buy groceries for themselves and grocery stores sell foods that are meant to serve more than 1 person. There’s often too much food for one person to finish within the time frame where it’s still edible.
5.     When my roommates do not take out the trash during their turn.
a.     Why it exists- Roommates often forget or are not use to taking out the trash in their home outside of college, therefore when they transition to living by themselves, they do not do it.
6.     Folding/hanging/ironing and putting away all of your clothes after you washed/dried them.
a.     Why it exists-In order to prevent some clothes from wrinkling or being mistaken for dirty clothes, we have to put our clean clothes in its proper space.
7.     Thinking there’s a parking spot open, but it turns out there’s a tiny car in the parking spot.
a.     Why it exists- The car is smaller than the parking spot, therefore when the small car is pulled all the way into the parking spot and the 2 other larger cars next to it that obstruct your view, it seems as if the spot is open since the rear of the small car isn’t visible.
8.     Washing clothes, but the colors bleed from one item of clothing and ruin your other clothes.
a.     Why it exists- The dye of vibrantly colored clothing runs into the water used to wash clothes and get absorbed by the other items of clothing in the wash cycle, more apparent in lighter colored clothing.
9.     When you still find dog hair in your house, even after you finish sweeping/cleaning.
a.     Why it exists- The dog hairs get trapped in the carpet or in other hard to reach areas and the vacuum/broom may not pick up every single hair. The hairs may also get caught on the sofa, loveseat or other pieces of furniture that are difficult to clean and linger even after you finish cleaning.
10.  When there’s a coat on pollen on your car during spring.
a.     Why it exists- During spring, pollen from flowers is in the air and lands on objects that are outside (e.g our cars) and over time, the thin layers of pollen build up to create a coat of pollen over our cars.
11.  Grocery stores throwing away food -that’s not fit for sale but still fit for human consumption- instead of donating.
a.     Why it exists- Grocery stores do not donate because they are afraid of liabilities and lawsuits if someone were to consume their foods and get sick. Instead they believe it’s easier to just dispose of the food to avoid lawsuits.
12.  When you travel and the shampoo and conditioner you packed in your suitcase leaks or explodes all over your clothes/other items you packed.
a.     Why it exists- Our luggage gets tossed around as it’s being passed through the airport to get on/off the plane and that could cause the cap of shampoos/conditioners to open and leak all over our belongings. Another explanation is that the lids of our soaps aren’t secure enough so a little movement could cause it to unlock/open.
13.  Stepping in a puddle, getting your socks wet and having to continue to walk in soaking wet socks.
a.     Why it exists- We sometimes underestimate the depth of a puddle, assuming we can step in it and the depth of the puddle will be less than the height of our shoes. But when we step, the puddle can be deeper than expected and the water can splash into our socks, leaving them wet and forcing us to continue to walk in them because we do not carry an extra change of socks or do not have the time to go home to change.
14.  Driving and having love bugs or any bug splatter on my windshield.
a.     Why it exists- Especially on the highway, we drive at a fast speed, as a result, any insect that were flying in the opposite direction would splatter on impact. If we drive for a long time, that increases the presence of insect we run into and over time, it creates a buildup of dead bugs on the front of our cars.
15.  Having to clean out the dryer lint every time after using the dryer.
a.     Why it exists- As we dry our clothes, lint gets collected in a net that we can pull out to clean in our dryer. We must clean it out every time to prevent build up that can cause a fire.
16.  Trying to find your keys when you’re already late for an event
a.     Why it exists- We often toss our keys in our rooms or on the countertops and we can’t remember the specific location when our mind is in a rush and our mind is scrambling to remember things we need.
17.  Difficult to open packaging (ex: needing scissors to open your package containing scissors)
a.     Why it exists- Hard to open packaging especially for dangerous items such as scissors are used to protect it from damage and prevent children from accessing it.
18.  Waiting hours for food to defrost (e.g chicken, beef).
a.     Why it exists- When we take a hunk of meat out of the freezer, we have to let it thaw to let it come to temperature, this makes it easier to cook and handle. We also have to let it slowly come to temperature over a long period of time because if we were to increase the temperate in attempt to speed up the process, it would cook the meat in a way we do not want.
19.  Several people talking at the same time and not being able to focus on hearing one at a time.
a.     Why it exists- When in a group discussing a subject, many people could participate in response and when several people talk at the same time, it’s difficult for our brain to focus on more than 1 subject. Our brain ends up not taking in any information.
20.  Oil splattering around the pan, all over the stove or even on you when you cook.
a.     Why it exists- When water gets into oil as you cook (e.g liquid from the food or leftover water on the pan after washing it), it can cause bubbles that pop and splatter oil or fat out of the pan.

Reflection- Personally, I did not find it difficult to find bugs because I have always noticed the small things I wish could be improved and I try to make a mental note of how to minimize the things that bug me/prevent it from happening. I went through a typical day and paid attention to small details I usually skim over, from there I think about what I wish could be improved (my “bugs”). Once I went through my chores and walked through a typical day with extra awareness, it became a lot easier to come up with a list of things that bug me.

Assignment 30A – Final Reflection

1. Lows- recording the elevator pitch and having 30 failed attempts before you recorded a decent one. Highs- when people would say your ...