1. My 3 segment fits: Melissa Gutierrez, Willmar Escalante, and Kimberly Ramirez.
2. My Alternative Evaluation: Melissa, a Health Science major on an occupational therapy track, said the price would matter. Melissa states price would matter the most because she is on a college student budget. Even though price matters, she is still an advocate for quality over quantity. The style would also matter to her, Melissa wants to be able to relate with the product/service provider she is doing business with for optimal satisfaction. Another characteristic that would influence her purchase decision is product/service longevity. Next, I interviewed Willmar Escalante. She is an international student from Venezuela. Willmar said that price is not really an issue, her most desired factor is quality. She stated that she wants to get the biggest bang for her buck. She also mentioned that if she was using the Bids to Benefit app, she wants everyone to have a background check. Which I told her in order, to use the app you must have a student ID, which provides a background check. My third interviewee was Kimberly. She is an international student as well, from Puerto Rico, studying graphic design. Kimberly is also an advocate for quality over quantity. Price does matter to her as well. Kimberly said that a rating system would influence her purchase behavior too.
3. How and where do they buy? Melissa and Kimberly are both in-store shoppers. When they shop, especially for clothes, they like to feel the clothes and try them on. Kimberly and Melissa also rather shop with a credit card than use cash. On the other hand, Willmar loves to shop online, using Amazon in particular. She says that it saves her countless amounts of time when she is too busy to shop in-store due to studying. Willmar stated that she would rather use cash than a credit card.
4. Post-purchase Evaluation: Melissa, Kimberly, and Willmar all had the same opinion when it came to this element. When they made a good purchase, they felt as if the product/service produced a good return on investment, the product/service had longevity, endurance, and good quality. When they made bad purchases, their feelings concurred with one another as well. They all claimed that the determinant for a bad purchase for a product/service is when it is not worth what they paid for it. Low quality, too expensive, and no ROI.
5. Summarized Results: I was quite impressed with the quality of information my interviewees provided. Each interviewee was charismatic and I enjoyed the process. The interviewees differ from another slightly but not much. I think they would be perfect candidates for the Bids to Benefit app.
6. Conclusion: I have learned that most people have the same idea of a good and a bad buy. Also, quality over quantity is normally always going to be advocated. I would say my chosen segment of the UF student body has minor differences in their opinions but for the most part are very similar.
Friday, June 22, 2018
What's My Secret Sauce?
1. 5 factors that differentiate my human capital from others.
Well for starters, I am told quite frequently that I always have a positive attitude. When people bring the trait to my attention, I begin to notice it myself. No matter what, I always try to look at the glass half full or to learn from a situation rather than to be discouraged. My second trait would be my work ethic. I have the ability to push myself past the majority of people's breaking points. Yes, most people will say they are hard workers but before you believe them, question what their opinion of hard work is. My third trait, which probably should have been stated first is my application of love. It is hard to show love all the time but it what I strive for. This characteristic is great for business as well. A customer wants to see that you are passionate and love everything about the product or service you are presenting to them. Love has the potential to close a business deal effortlessly. For quality number four, I guess you can say my uniqueness makes me unique. I am Ecuadorian/American, which isn't the most common mix. I feel as if my inherited heritage allows me to connect with people of South American descent easier than the average American. Last but least, I would say I'm more of a listener than a talker. I like to hear what people have to say than bombard someone with my own opinion.
2. My 5 interviewees: The first person I interviewed was one of my best friends, Sina. His comments made me realize that people are always paying attention even when you least expect it. I am happy I can influence my Persian brother in a positive way. Please start the recording at 30 seconds: https://www.tapeacall.com/avb8qd7tuc
My second interviewee was my grandfather. The main thing I took away from the interview is the happiness I get from making my grandpa proud. Please start the recording at 23 seconds: https://www.tapeacall.com/r4jfauqa4u
My next interviewee is my mom of course. I never thought she noticed how I handle high-pressure situations at my place of employment and I am happy I can make her proud! Please start the recording at 23 seconds: https://www.tapeacall.com/j7e7hrdt9u
The next recording is one of my best friends, Brandon. Please excuse the mickey mouse voice at the end lol. Please start the recording at 17 seconds: https://www.tapeacall.com/q7avr8kzv6
The final interviewee is another one of my best friends Jovante. I have known Jojo since I was 10 and I am glad he thinks so highly of me. Please start at 30 seconds: https://www.tapeacall.com/2ceb2v398b
3. My reflection on the differences: Honestly I just see myself as an equal to everyone, but I'm glad some people look at me as a beholder of great value. A lot of the characteristics that were brought to attention in the interviews I don't really notice about myself but as I said above, now the traits were mentioned I begin to notice a little bit. The differences I have are caused by my ambition. When I start a family I want to provide the best life I possibly can for them and also participate in philanthropic activities as well. I would not change anything from the first element provided and I'm thankful for the clarification my interviewees provided.
Well for starters, I am told quite frequently that I always have a positive attitude. When people bring the trait to my attention, I begin to notice it myself. No matter what, I always try to look at the glass half full or to learn from a situation rather than to be discouraged. My second trait would be my work ethic. I have the ability to push myself past the majority of people's breaking points. Yes, most people will say they are hard workers but before you believe them, question what their opinion of hard work is. My third trait, which probably should have been stated first is my application of love. It is hard to show love all the time but it what I strive for. This characteristic is great for business as well. A customer wants to see that you are passionate and love everything about the product or service you are presenting to them. Love has the potential to close a business deal effortlessly. For quality number four, I guess you can say my uniqueness makes me unique. I am Ecuadorian/American, which isn't the most common mix. I feel as if my inherited heritage allows me to connect with people of South American descent easier than the average American. Last but least, I would say I'm more of a listener than a talker. I like to hear what people have to say than bombard someone with my own opinion.
2. My 5 interviewees: The first person I interviewed was one of my best friends, Sina. His comments made me realize that people are always paying attention even when you least expect it. I am happy I can influence my Persian brother in a positive way. Please start the recording at 30 seconds: https://www.tapeacall.com/avb8qd7tuc
My second interviewee was my grandfather. The main thing I took away from the interview is the happiness I get from making my grandpa proud. Please start the recording at 23 seconds: https://www.tapeacall.com/r4jfauqa4u
My next interviewee is my mom of course. I never thought she noticed how I handle high-pressure situations at my place of employment and I am happy I can make her proud! Please start the recording at 23 seconds: https://www.tapeacall.com/j7e7hrdt9u
The next recording is one of my best friends, Brandon. Please excuse the mickey mouse voice at the end lol. Please start the recording at 17 seconds: https://www.tapeacall.com/q7avr8kzv6
The final interviewee is another one of my best friends Jovante. I have known Jojo since I was 10 and I am glad he thinks so highly of me. Please start at 30 seconds: https://www.tapeacall.com/2ceb2v398b
3. My reflection on the differences: Honestly I just see myself as an equal to everyone, but I'm glad some people look at me as a beholder of great value. A lot of the characteristics that were brought to attention in the interviews I don't really notice about myself but as I said above, now the traits were mentioned I begin to notice a little bit. The differences I have are caused by my ambition. When I start a family I want to provide the best life I possibly can for them and also participate in philanthropic activities as well. I would not change anything from the first element provided and I'm thankful for the clarification my interviewees provided.
Halfway Reflection
1. Tenacious is a competency. Such an accurate statement. When you are an entrepreneur there is no base salary deposit in your bank account every week. You get paid purely off of results. Just like this class. We do not get points towards our grade if we do not do our assignments. We earn our grades purely off the points we yield from our work. If no work was done, we receive no points, plain and simple. The key behaviors that I used at the beginning of this course are focus, tenaciousness, and perseverance. I used the behavior of focus to stay on track, in other words, continue to keep my eye on the light at the end of the tunnel. The acquired characteristic of tenaciousness held me together, by the grace of God. And last but not least perseverance allowed me to truck through all of my work with a great vengeance.
2. Tenaciousness is also about attitude. This is also very true. One applies the characteristic of tenaciousness through their attitude. At the beginning of ENT 3003 is when my tenaciousness began to flourish. I was taking Agricultural Data Analysis for summer A while taking ENT 3003, working 2 jobs, and sticking to a strict workout regimen. The assignments would always creep up on me every week. Yes, it would be easy not to do them sometimes and pray for extra credit but my acquired tenaciousness would not let me. My recommendation would be to persevere through all of life's obstacles and complete your work no matter what!
3. Three tips. Three tips I would give to this fluorescent green gourd of a student are absolute. Each tip is to apply the behaviors learned in bullet point 1 (Focus, Tenaciousness, and Perseverance). If the tips provided are applied, they will nurture the development of a tenacious entrepreneurial mindset.
2. Tenaciousness is also about attitude. This is also very true. One applies the characteristic of tenaciousness through their attitude. At the beginning of ENT 3003 is when my tenaciousness began to flourish. I was taking Agricultural Data Analysis for summer A while taking ENT 3003, working 2 jobs, and sticking to a strict workout regimen. The assignments would always creep up on me every week. Yes, it would be easy not to do them sometimes and pray for extra credit but my acquired tenaciousness would not let me. My recommendation would be to persevere through all of life's obstacles and complete your work no matter what!
3. Three tips. Three tips I would give to this fluorescent green gourd of a student are absolute. Each tip is to apply the behaviors learned in bullet point 1 (Focus, Tenaciousness, and Perseverance). If the tips provided are applied, they will nurture the development of a tenacious entrepreneurial mindset.
Friday, June 15, 2018
Figuring Out Buyer Behavior No. 1
1. Pick a segment: The market segment I selected to provide my service to is highly involved students. For example, students in fraternities, sororities, athletes, and student government. This service can be used by anybody who needs to use some else's time to free theirs up.
2. My 3 interviewees: Dom Delbuco, David Jacobs, and Brandon Faulk
3. Need awareness: Dom is currently a student at Santa Fe College, an entrepreneur, and a father. The places where he found my business concept most useful is in his house. He runs his internet marketing business out of his house and helps his fiance watch their newborn baby boy. Between both of them working and studying, it is hard for them to find time to take care of dishes, laundry, etc. David is an international student from Mexico City and a young professional in the making. He takes classes full time and has a part-time job at a restaurant. David constantly finds himself in a time crunch and said my app would be beneficial for his house as well, especially after he throws parties. He said he finds himself in the situation where he needs to clean and go grocery shopping but has an assignment he needs to do or has to work. This is when the app would be most helpful to him. Everyone knows parties have the potential to trash a house, this app is a great way to take care of the aftermath. Brandon Faulk, a friend of mine who just graduated from UCF also found a use for this app. Even though the targeted demographic is for the UF student body, once the business expands to the point where we can do business off-campus, Brandon is a perfect candidate. He is a bachelor fresh out of college in the professional world. Ever since he got out of college he has wanted to back on his "workout grind". He said a personal trainer would be a big help. Most personal trainers want their clients to sign contracts and leave no room for negotiation. Once I presented my idea to Brandon, he said that the app bypasses the pushiness of PT's and gives him room for negotiation.
4. Information search: Dom and his fiance's first method of information search is to ask one another to take care of a task. If both of them are not available to do it, it does not get done. They do not google search a cleaning service because most of the time they just need a one time clean instead of a consistent contract that most cleaning services try to push. Dom said he would love to use the app because it sounds simple and there is minimal commitment. David said he would not necessarily search for someone to clean his place after a party. Normally he would just own up to his responsibility and clean his house. Now that the app has been presented he would be more than happy to have someone clean his place at a convenient price and help someone earn extra cash. Brandon said he would google search personal training but was scared by the commitment the PT businesses demanded. Bids to benefits allow him to select a PT at a reasonable price that he approves of.
5. The Findings of My Research: Throughout my research, I have realized that my business concept will be useful to everyone, not just students. The app is geared toward contemporary use but will be available to our elders as well. Professors at UF may also find a use for this app.
6. Drawn conclusion: I have come to the conclusion that most people want results that are more convenient than Google can provide, yea I know that sounds crazy. Sometimes there are simple things people want to be done with a lack of commitment and a great price. Bids to benefit is the place for UF students to obtain both of those characteristics in one place.
2. My 3 interviewees: Dom Delbuco, David Jacobs, and Brandon Faulk
3. Need awareness: Dom is currently a student at Santa Fe College, an entrepreneur, and a father. The places where he found my business concept most useful is in his house. He runs his internet marketing business out of his house and helps his fiance watch their newborn baby boy. Between both of them working and studying, it is hard for them to find time to take care of dishes, laundry, etc. David is an international student from Mexico City and a young professional in the making. He takes classes full time and has a part-time job at a restaurant. David constantly finds himself in a time crunch and said my app would be beneficial for his house as well, especially after he throws parties. He said he finds himself in the situation where he needs to clean and go grocery shopping but has an assignment he needs to do or has to work. This is when the app would be most helpful to him. Everyone knows parties have the potential to trash a house, this app is a great way to take care of the aftermath. Brandon Faulk, a friend of mine who just graduated from UCF also found a use for this app. Even though the targeted demographic is for the UF student body, once the business expands to the point where we can do business off-campus, Brandon is a perfect candidate. He is a bachelor fresh out of college in the professional world. Ever since he got out of college he has wanted to back on his "workout grind". He said a personal trainer would be a big help. Most personal trainers want their clients to sign contracts and leave no room for negotiation. Once I presented my idea to Brandon, he said that the app bypasses the pushiness of PT's and gives him room for negotiation.
4. Information search: Dom and his fiance's first method of information search is to ask one another to take care of a task. If both of them are not available to do it, it does not get done. They do not google search a cleaning service because most of the time they just need a one time clean instead of a consistent contract that most cleaning services try to push. Dom said he would love to use the app because it sounds simple and there is minimal commitment. David said he would not necessarily search for someone to clean his place after a party. Normally he would just own up to his responsibility and clean his house. Now that the app has been presented he would be more than happy to have someone clean his place at a convenient price and help someone earn extra cash. Brandon said he would google search personal training but was scared by the commitment the PT businesses demanded. Bids to benefits allow him to select a PT at a reasonable price that he approves of.
5. The Findings of My Research: Throughout my research, I have realized that my business concept will be useful to everyone, not just students. The app is geared toward contemporary use but will be available to our elders as well. Professors at UF may also find a use for this app.
6. Drawn conclusion: I have come to the conclusion that most people want results that are more convenient than Google can provide, yea I know that sounds crazy. Sometimes there are simple things people want to be done with a lack of commitment and a great price. Bids to benefit is the place for UF students to obtain both of those characteristics in one place.
Reading Reflection No. 1
1. The book I chose is "TWENTY-SEVEN DOLLARS AND A DREAM, HOW MUHAMMAD YUNUS CHANGED THE WORLD AND WHAT IT COST HIM" by Katherine Esty.
What surprised me the most? All that Muhammad Yunus as accomplished in his 77 years here. He has been awarded a countless amount of awards, including a Nobel Peace Prize.
What about the entrepreneur did I admire the most? Yunus's ability to create a vision and make it come to life. He let nothing get in his way of helping rebuild the economy in Bangladesh. Even though he had a great life in the United States, he left his comfort zone to help revamp his homeland of Bangladesh. Also, the fact that he won a Nobel Peace Prize is amazing.
What about the entrepreneur did I least admire? He chose Bangladesh over his family. His daughter was born right after Bangladesh declared their independence from Pakistan. This was right after a war and due to the war, Bangladesh was in turmoil. His wife decided that it was not an appropriate environment to raise their child and she moved back but Yunus stayed. In a way, it is still honorable that he gave up a life with his family of 2 to help the lives of millions.
Did the entrepreneur encounter adversity and failure? Yes, one was the absence of his family. How did he deal with it? He bit the bullet and continued to make his vision come to life in Bangladesh. Yunus did not want a divorce but after being so far from his family for so long, his wife and he grew apart. Another adversity Yunus faced was trying to get banks to believe in his idea of microfinancing in Bangladesh. He was told no many times but never gave up. How did he deal with this? Yunus was relentless.
2. What competencies did I notice that the entrepreneur exhibited? Yunus genuinely saw the potential that the poverty class had in his country. He knew that if they were given financial stimulation, that they had the potential to prosper. Yunus could see past the toothless smiles and the unsanitary lifestyles and realized a little help would give the people of Bangladesh a fighting chance.
3. One part of the reading that was confusing to me. I guess it would be why Pakistan went to war with Bangladesh. I know Pakistan wanted to implement their culture and in a sense erase Bangladesh which makes no sense to me. Each country is unique, this, in essence, gives each country their beauty. It is hard for me to see why others do not see that sometimes.
4. If I were to ask Muhammad Yunus 2 questions, what would they be and why? My first question would be, "How did it feel when you received your Nobel Peace Prize?". That is such an extraordinary accomplishment. I highly admire this credential he earned because this is the highest award you can receive in this field of work. My next question would be, "how did you keep your vision even the odds were against you?". His family left, people were dying on streets, the economy was practically condemned, and yet Yunus still continued to move forward with his vision. He is the true definition of walking by faith and not by sight (2 Corinthians 5:7).
5. What do I think Muhammad Yunus's opinion of hard work is? And do I share that opinion? I'd say his opinion of hard work is to never give up, and that persistence is key. Yes, I completely agree with this. The pyramids were not built in a day. They were built by the persistence of one brick being laid at a time.
What surprised me the most? All that Muhammad Yunus as accomplished in his 77 years here. He has been awarded a countless amount of awards, including a Nobel Peace Prize.
What about the entrepreneur did I admire the most? Yunus's ability to create a vision and make it come to life. He let nothing get in his way of helping rebuild the economy in Bangladesh. Even though he had a great life in the United States, he left his comfort zone to help revamp his homeland of Bangladesh. Also, the fact that he won a Nobel Peace Prize is amazing.
What about the entrepreneur did I least admire? He chose Bangladesh over his family. His daughter was born right after Bangladesh declared their independence from Pakistan. This was right after a war and due to the war, Bangladesh was in turmoil. His wife decided that it was not an appropriate environment to raise their child and she moved back but Yunus stayed. In a way, it is still honorable that he gave up a life with his family of 2 to help the lives of millions.
Did the entrepreneur encounter adversity and failure? Yes, one was the absence of his family. How did he deal with it? He bit the bullet and continued to make his vision come to life in Bangladesh. Yunus did not want a divorce but after being so far from his family for so long, his wife and he grew apart. Another adversity Yunus faced was trying to get banks to believe in his idea of microfinancing in Bangladesh. He was told no many times but never gave up. How did he deal with this? Yunus was relentless.
2. What competencies did I notice that the entrepreneur exhibited? Yunus genuinely saw the potential that the poverty class had in his country. He knew that if they were given financial stimulation, that they had the potential to prosper. Yunus could see past the toothless smiles and the unsanitary lifestyles and realized a little help would give the people of Bangladesh a fighting chance.
3. One part of the reading that was confusing to me. I guess it would be why Pakistan went to war with Bangladesh. I know Pakistan wanted to implement their culture and in a sense erase Bangladesh which makes no sense to me. Each country is unique, this, in essence, gives each country their beauty. It is hard for me to see why others do not see that sometimes.
4. If I were to ask Muhammad Yunus 2 questions, what would they be and why? My first question would be, "How did it feel when you received your Nobel Peace Prize?". That is such an extraordinary accomplishment. I highly admire this credential he earned because this is the highest award you can receive in this field of work. My next question would be, "how did you keep your vision even the odds were against you?". His family left, people were dying on streets, the economy was practically condemned, and yet Yunus still continued to move forward with his vision. He is the true definition of walking by faith and not by sight (2 Corinthians 5:7).
5. What do I think Muhammad Yunus's opinion of hard work is? And do I share that opinion? I'd say his opinion of hard work is to never give up, and that persistence is key. Yes, I completely agree with this. The pyramids were not built in a day. They were built by the persistence of one brick being laid at a time.
Idea Napkin No. 1
1. ME: My name is Cayman Martinez-Saare. I am an Ecuadorian/American student at the University of Florida in pursuit of health, wealth, love and happiness. The skills and experiences I have acquired throughout my lifetime range from replacing valve cover gaskets on a BMW 6 series to multivariate optimization calculus. The acquisition process of these skills all have one thing in common, hard work. One thing I have taken away from my broad spectrum of experiences is, this may be cliche but, you have to work smarter not harder. My aspiration for my business concept is for it to expand to the point where we can accept business from the general population of Gainesville and not just students.
2. What am I offering to customers? The main benefit a customer will gain from the service my business will provide is time. Time is the most scarce resource that we have and those who realize this will be prone to using the app.
3. Who am I offering it to? My targeted demographic is the student body of UF. Students who are in a time crunch due to strict deadlines and the forthcoming of big exams will be encouraged to place a bid to benefit a bunch. The one thing that all of our clientele will have in common, is the scarcity and appreciation of their time.
4. Why do they care? My client base will care because my service allows them to break out of their time constriction that is inevitable in the life of a young professional. Again, my client demographic is primarily the student body of UF. We all know as students that one of the main things higher education teaches us is time management. The service that my business concept provides will aid in the time management honing process.
5. What are your core competencies? Bids to benefits is set apart from everyone else by being one click away to have your apartment cleaned, a tutor provided, or a personal trainer to meet you at Ben Hill Griffin Stadium. Not only does our app connect the consumer to the service provider but the app gives the customer the opportunity to negotiate. Hence the name "Bids to Benefit".
In my opinion, these elements are in sync with one another. The atmosphere for this concept to spawn is perfect. As explained above, this app is targeted for young professionals that do not have the time or simply do not know how to take care of the everyday chores or tasks that are necessary to live an adequate lifestyle. The student population at UF is exactly that. The most desirable characteristic of this service is that it will open a time block in someone's schedule that may have not been there before, due to having to take care of the task or chore themselves.
2. What am I offering to customers? The main benefit a customer will gain from the service my business will provide is time. Time is the most scarce resource that we have and those who realize this will be prone to using the app.
3. Who am I offering it to? My targeted demographic is the student body of UF. Students who are in a time crunch due to strict deadlines and the forthcoming of big exams will be encouraged to place a bid to benefit a bunch. The one thing that all of our clientele will have in common, is the scarcity and appreciation of their time.
4. Why do they care? My client base will care because my service allows them to break out of their time constriction that is inevitable in the life of a young professional. Again, my client demographic is primarily the student body of UF. We all know as students that one of the main things higher education teaches us is time management. The service that my business concept provides will aid in the time management honing process.
5. What are your core competencies? Bids to benefits is set apart from everyone else by being one click away to have your apartment cleaned, a tutor provided, or a personal trainer to meet you at Ben Hill Griffin Stadium. Not only does our app connect the consumer to the service provider but the app gives the customer the opportunity to negotiate. Hence the name "Bids to Benefit".
In my opinion, these elements are in sync with one another. The atmosphere for this concept to spawn is perfect. As explained above, this app is targeted for young professionals that do not have the time or simply do not know how to take care of the everyday chores or tasks that are necessary to live an adequate lifestyle. The student population at UF is exactly that. The most desirable characteristic of this service is that it will open a time block in someone's schedule that may have not been there before, due to having to take care of the task or chore themselves.
Friday, June 8, 2018
Elevator Pitch No. 1
My idea has switched a little from my original "Solving the Problem" post, but it was for the better. Enjoy and I look forward to doing business with you all! 😎
Testing the Hypothesis, Part 2
Summary: My business idea I am proposing to others is the same as I posted in my "Solving the Problem" post. A student temp service that is there to help students keep their employers satisfied while the students study. Students will take a competency test to place them in the right job sector. I conducted a 5-person survey inside of Library West. The foundation of my survey contained 4 questions: Do you have a job?, Would you like the opportunity to earn extra cash without any commitments?, I proposed my business idea and then asked would you sign up?, and What type of work would you be open to doing? I wanted to make the interview brief because the students in Library West at the University of Florida are hard at work studying but also take away valuable input from them.
WHO?: I interviewed 5 students in Library West: 1. Stephanie Spraker, 2. Alex Hong, 3. Carla Gonzalez, 4. Erin Pins, and 5. Le Kin. Alex is the only one with a job currently. He is an automotive technician at GMC of Gainesville while studying Mechanical Engineering at UF. Stephanie, Alex, Carla, and Erin were all open to my business proposition, Le was not. Le fell outside of boundary because she is completely committed to her Urban Planning curriculum here at UF.
WHAT?: The need of the desire of more time to study differs from the need for more hours to work greatly. This is because studying is an investment in ourselves to elevate us to the next level of our lives. Most students have miscellaneous jobs do not contribute as much as their studies do to their career.
WHY?: It seems as if Le's need does differ from everyone else's. She has completely devoted herself to her Urban Planning study regiment and has no interest in earning extra cash or workforce experience at this point in time. Stephanie, Alex, Carla, and Erin were all open to the idea and were enthusiastic about earning extra cash and workforce experience.
WHO?: I interviewed 5 students in Library West: 1. Stephanie Spraker, 2. Alex Hong, 3. Carla Gonzalez, 4. Erin Pins, and 5. Le Kin. Alex is the only one with a job currently. He is an automotive technician at GMC of Gainesville while studying Mechanical Engineering at UF. Stephanie, Alex, Carla, and Erin were all open to my business proposition, Le was not. Le fell outside of boundary because she is completely committed to her Urban Planning curriculum here at UF.
WHAT?: The need of the desire of more time to study differs from the need for more hours to work greatly. This is because studying is an investment in ourselves to elevate us to the next level of our lives. Most students have miscellaneous jobs do not contribute as much as their studies do to their career.
WHY?: It seems as if Le's need does differ from everyone else's. She has completely devoted herself to her Urban Planning study regiment and has no interest in earning extra cash or workforce experience at this point in time. Stephanie, Alex, Carla, and Erin were all open to the idea and were enthusiastic about earning extra cash and workforce experience.
Solving the Problem
My Selected Opportunity (1): There is a vast majority of the student body here at the University of Florida, that go to school full time and have a job, such as myself. Don't get me wrong, I love generating revenue for myself but at this point in time in my life my studies come first. At times and quite often actually, my school schedule and work schedule will collide and do not merge. This occurrence always ends up with me making a sacrifice, either school or work will need to be neglected due to a time scarcity and maybe poor planning as well. Both of my jobs will always ask me to work extra hours when I need to study for an exam, it's like my employers have a sixth sense or something. What the bulk of this information I am providing boils down to is that I am always needing to study when my jobs want me to work.
My Proposed Product/Service (2): I am sure I am not the only student that deals with the employer/study contradiction. If you are one of those students, I have good news for you, I have found a solution. I would like to start a business kind of like a temp service but for students. The business will essentially be a pool of students who are ready to fill in for you at your job when you need to study and not work. Depending on the type of job you have, there will be a competency test for each type of job to make sure the student will be able to take someone's place efficiently. This will give students that do not have a job an opportunity to earn some extra cash and obtain experience in the workforce, while the students like myself can focus on studying while keeping our employers satisfied.
My Proposed Product/Service (2): I am sure I am not the only student that deals with the employer/study contradiction. If you are one of those students, I have good news for you, I have found a solution. I would like to start a business kind of like a temp service but for students. The business will essentially be a pool of students who are ready to fill in for you at your job when you need to study and not work. Depending on the type of job you have, there will be a competency test for each type of job to make sure the student will be able to take someone's place efficiently. This will give students that do not have a job an opportunity to earn some extra cash and obtain experience in the workforce, while the students like myself can focus on studying while keeping our employers satisfied.
Friday, June 1, 2018
Identifying Opportunities in Economic and Regulatory Trends
Economic Trend Opportunity 1:
a) Eco-friendly is my first economic trend of choice. This trend was brought to my attention by an article in the Miami Herald that I read for the previous assignment.
b) Due to global warming, tons of firms are being encouraged to change the way they operate to reduce the effects on the environment, and individuals as well. I believe there is an opportunity here because almost any aspect of someone's life can be altered to reduce society's emissions output. Many new products are coming out each day that are "eco-friendly". For instance, you can go to Lowes and buy light bulbs that shine brighter and use less energy.
c)The type of customers who are most likely to indulge in the eco-friendly economic trend opportunity are the environmentalists.
d) The opportunity can be easily exploited by the environmentalists. It is the opposing party that would make exploitation a challenge. There are individuals who do not believe in global warming. This best thing to do is to try to educate everyone on the benefits of the trend and let it sell its self. Tesla is an example of helping make eco-friendly look cool.
Economic Trend Opportunity 2:
a) Cryptocurrency is my second economic trend opportunity of choice. Everything nowadays is geared towards digital activity. Cell phones, computers, and now money. This trend was brought to my attention by friends I have that have invested in Bitcoin and other cryptocurrencies.
b) There is an opportunity to begin to use cryptocurrency over the dollar due to exchange rates. Cryptocurrency is geared to be a universal currency. So, no matter where you are in the world, it will still hold the same value. When cryptocurrency is exchanged, we no longer have to worry about exchange rates or the lengthy amount of time for money to transfer overseas. Cryptocurrency can be transferred in about 15 minutes versus the up to 2-week transfer process, depending on where how much money you would like to transfer.
c) Cryptocurrency users will be used mostly by tech investors and people who travel a lot. This will take time but eventually, the world may begin to favor cryptocurrency and exclude other forms of hard currencies.
d) This opportunity is hard to exploit because cryptocurrency is not backed by the government, but governments are slowly trying to change this. This scares a lot of people. Myself for example, like hard currency over crypto because of the risk that comes with cryptocurrency. Until the crypto miners work out the kinks, there are many people who want nothing to do with it and there are also some people who love the idea.
Regulatory Trend Opportunity 1:
a) Hunting and trapping in Alaska are my fist regulatory trend of choice. I found out about this regulation at regulations.gov.
b) This opportunity may exist due to the overhunting of wild game in Alaska. Sport hunting can create a scarcity of certain animals indigenous to Alaska and a quota can help reduce this.
c) The customers for this opportunity are the environmentalists and the animal activists. I'm sure if the animal activists had their way completely there would be no hunting what so ever, but the sport contributes a lot to Alaska's economy.
d) It is easy to exploit due to the endangerment of animals but there is also another party who could care less. Money influences most decisions in the world we live in so, sport hunting will continue while also stimulating the Alaskan economy.
Regulatory Trend Opportunity 2:
a) Trump's tariffs on China are my second regulatory trend of choice. I heard about this through NPR radio, NBC News, and Fox News.
b)The opportunity exists because the Trump administration has accused China of stealing intellectual property, which is illegal in our trade agreement with them. To retaliate Trump has imposed a $50 billion accumulative tariffs against China.
c) I don't think this opportunity creates customers as much as it deters them, which is the point of a tariff. The tariff could disperse the global economy more evenly instead of the bulk of Chinese goods going to the U.S., China will now try and find other buyers to meet their economic needs.
d) This is a tough proposal to exploit because China is such a fierce and beneficial economy. President Trump justifies his choice with the accusation of China stealing intellectual property, which if true, is a good reason not to do business with an entity.
a) Eco-friendly is my first economic trend of choice. This trend was brought to my attention by an article in the Miami Herald that I read for the previous assignment.
b) Due to global warming, tons of firms are being encouraged to change the way they operate to reduce the effects on the environment, and individuals as well. I believe there is an opportunity here because almost any aspect of someone's life can be altered to reduce society's emissions output. Many new products are coming out each day that are "eco-friendly". For instance, you can go to Lowes and buy light bulbs that shine brighter and use less energy.
c)The type of customers who are most likely to indulge in the eco-friendly economic trend opportunity are the environmentalists.
d) The opportunity can be easily exploited by the environmentalists. It is the opposing party that would make exploitation a challenge. There are individuals who do not believe in global warming. This best thing to do is to try to educate everyone on the benefits of the trend and let it sell its self. Tesla is an example of helping make eco-friendly look cool.
Economic Trend Opportunity 2:
a) Cryptocurrency is my second economic trend opportunity of choice. Everything nowadays is geared towards digital activity. Cell phones, computers, and now money. This trend was brought to my attention by friends I have that have invested in Bitcoin and other cryptocurrencies.
b) There is an opportunity to begin to use cryptocurrency over the dollar due to exchange rates. Cryptocurrency is geared to be a universal currency. So, no matter where you are in the world, it will still hold the same value. When cryptocurrency is exchanged, we no longer have to worry about exchange rates or the lengthy amount of time for money to transfer overseas. Cryptocurrency can be transferred in about 15 minutes versus the up to 2-week transfer process, depending on where how much money you would like to transfer.
c) Cryptocurrency users will be used mostly by tech investors and people who travel a lot. This will take time but eventually, the world may begin to favor cryptocurrency and exclude other forms of hard currencies.
d) This opportunity is hard to exploit because cryptocurrency is not backed by the government, but governments are slowly trying to change this. This scares a lot of people. Myself for example, like hard currency over crypto because of the risk that comes with cryptocurrency. Until the crypto miners work out the kinks, there are many people who want nothing to do with it and there are also some people who love the idea.
Regulatory Trend Opportunity 1:
a) Hunting and trapping in Alaska are my fist regulatory trend of choice. I found out about this regulation at regulations.gov.
b) This opportunity may exist due to the overhunting of wild game in Alaska. Sport hunting can create a scarcity of certain animals indigenous to Alaska and a quota can help reduce this.
c) The customers for this opportunity are the environmentalists and the animal activists. I'm sure if the animal activists had their way completely there would be no hunting what so ever, but the sport contributes a lot to Alaska's economy.
d) It is easy to exploit due to the endangerment of animals but there is also another party who could care less. Money influences most decisions in the world we live in so, sport hunting will continue while also stimulating the Alaskan economy.
Regulatory Trend Opportunity 2:
a) Trump's tariffs on China are my second regulatory trend of choice. I heard about this through NPR radio, NBC News, and Fox News.
b)The opportunity exists because the Trump administration has accused China of stealing intellectual property, which is illegal in our trade agreement with them. To retaliate Trump has imposed a $50 billion accumulative tariffs against China.
c) I don't think this opportunity creates customers as much as it deters them, which is the point of a tariff. The tariff could disperse the global economy more evenly instead of the bulk of Chinese goods going to the U.S., China will now try and find other buyers to meet their economic needs.
d) This is a tough proposal to exploit because China is such a fierce and beneficial economy. President Trump justifies his choice with the accusation of China stealing intellectual property, which if true, is a good reason not to do business with an entity.
Identifying Local Opportunities
Story 1:
- Title: Legalizing Marijuana Divides Candidates For Governor
- Link: http://www.gainesville.com/news/20180601/legalizing-cannabis-divides-candidates-for-governor
- What this article boils down to is that the Democratic party candidates that are running for governor in the state of Florida are for legalization and the decriminalization of marijuana. On the other hand, the Republican party is opposing the idea.
- The problem presented in the article is to obtain a referendum in favor of recreational marijuana use. Even though marijuana has been approved for medicinal use, recreational use is the next step of decriminalization.
- Who has this problem? Well, the opposition from the Republican party is a problem for the pro-marijuana Democratic party. Also, firms and investors who are ready to enter the market. Once legalized for recreational consumption by people 21 or older, marijuana will become a lucrative legal agricultural commodity. So, the time lapse upon marijuana's recreational legalization process is costing individuals and the state of Florida's economy tons of potential revenues.
Story 2:
- Title: Gainesville's Whole Foods opens to long lines
- Link: http://www.gainesville.com/news/20180509/gainesvilles-whole-foods-opens-to-long-lines
- The Gainesville Sun was present at the grand opening of the new Whole Foods grocery store in Gainesville off of Archer road. The article glorifies the new grocery store and how happy the people of Gainesville are to have a Whole Foods but the title grabbed my attention. "Gainesville's Whole Foods opens to long lines" sounds like a bug to me. Waiting in line a long line at a grocery store has always been a pet peeve of mine.
- There is not necessarily a problem presented in the article but the title influenced me to create an opportunity belief. My opportunity belief is that most people do not like the long lines spawned by the favorability of a place shopping.
- Who has this problem? For one, people who do not like waiting in lines. Also, this problem can occur to those who do not budget their time efficiently and still need to grocery shop.
Story 3:
- Title: Who's allowed to charge a fee for using credit cards in Florida?
- Link: http://www.tampabay.com/news/business/personalfinance/Who-s-allowed-to-charge-a-fee-for-using-credit-cards-in-Florida-_168738971
- This article explains how only municipal or government monetary transaction services can charge a convenience fee if an individual chooses to pay with a credit card. The governmental entities mentioned in the article justify the convenience fees charged as the "cost of doing business".
- The problem presented in the article is the amount someone is charged for paying their bills with a credit card. The article states that the Hillsborough County Tax Collector's office charges a $2.95 fee for motor vehicle transactions and a 2.35% fee on in-person credit card transactions for motor vehicles.
- Who has this problem? The residents of each county that these tax regulations apply to. The article mentioned a resident of Hillsborough County saying that they will only pay by cash or check just to avoid the convenience fee.
Story 4:
- Title: Most Florida nursing homes aren't ready with back up power
- Link: http://www.tampabay.com/florida-politics/buzz/2018/06/01/most-florida-nursing-homes-arent-ready-with-backup-power/
- The article talks about the state of Florida's push for better backup power sources for assisted living and retirement homes. The catastrophic hurricane Irma is what brought this issue to light. During Irma, many retirement facilities were without power for periods of time, which was strenuous on elders and the state of Florida wants to put a stop to this. The state is now implementing a law that requires all retirement homes and assisted living facilities to have access to at least 96 hours of back power once power is lost.
- The problem presented in this article is that retirees are in crucial need of power to accommodate their living conditions to prosper. Without power in Florida, one's place of living can become almost uninhabitable, especially for elderly people.
- Who has this problem? Retirees who are stuck in their homes that are uncomfortable due to a power outage. Also, the family members of the residents of the retirement communities. The weather may be too rough to go down and help their family member out. If there is no power, no calls can be made after a prolonged period of time. Therefore, the family members are under a huge amount of stress, wondering if their family member is ok or alive and vice versa.
Story 5:
- Title: Miami's condo king breaks silence on sea level rise comment: 'Maybe I had too many drinks'
- Link: http://www.miamiherald.com/news/business/real-estate-news/article210857319.html
- This article puts big-time developer Jorge Perez under a microscope for a comment he said. Jorge Perez does not recollect saying the comment that was exploited in this news article. Jeff Goodell claims to have approached Perez at a party at the Perez Art Museum to ask him if the sea level rise has hindered his developing along the coastline. Jorge Perez responded with a quote that startled everyone: "In 20 or 30 years, someone is going to find a solution for this. Besides by that time, I'll be dead, so what does it matter?" The article is simply an interview with him, clearing up his non-eco friendly comment.
- The problem presented in this article speech before thought. Nowadays everything is very sensitive to one's words. Due to this societal sensitivity, we all must be unbiasedly articulate with the words we portray, especially when you're a big time developer in Miami.
- Who has this problem? Well, obviously Jorge Perez does but honestly, most of society does as well. From my experience, the majority of people speak before they think instead think before they speak. This a virtue that is learned with time and is hard for young minds to grasp.
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