Identifying Opportunities in Economic and Regulatory Trends

ECONOMIC

1. US economic growth is expected to decrease.

- I found this opportunity while reading an article on the Goldman Sachs website. The talk about a diminishing fiscal policy has led me to believe that there is an opportunity here. All American people will be affected by these new trends in the economy, no matter what direction they end up going in. This opportunity is very difficult to exploit. These trends are out of the reach of the American people. In the big picture, the average American does not have much of an impact on their country's economic trends. Therefore, these trends lie in the hands of the government. Although I saw this as an opportunity, others might disagree or have not seen it at all. It depends on which way you might stand politically, and on if you are keeping up with the current news and trends going on around you.

2. Monitoring cars via satellite imagery for consumer spending.

- I found this to be a very interesting opportunity while reading an article via SpaceKnow Analytics. SpaceKnow talked about how tracking cars via satellite imagery can help them predict and look at trends in consumer spending. I knew this could be a good opportunity because when companies utilize technology to the best of their ability, extraordinary things happen.  The customers for this opportunity would be whoever is being tracked via satellite imagery. They will be the sources of information for consumer spending trends. This is a relatively difficult opportunity to exploit because these satellites have to monitor these cars for a long period of time to pick up on trends. It is not an overnight experiment. Although I saw this opportunity, others might not have. Some people might look at this article title and think that this concept is stupid or impossible. However, because I found this interesting and kept on reading, I noticed this opportunity.

REGULATORY

1. Privacy for consumers should be priority

- I found this opportunity through my daily use of technology. Every time I use the internet or am playing games, I am constantly being bothered with advertisements and cookie notifications. I believe that an opportunity exists here because there are many other people who are experiencing the same things that I am and feeling the same way about them. We, the daily internet users, are the main customers for this opportunity. This is a very difficult opportunity to exploit for a couple reasons. First, the average internet user has no influence or control over the amount of ads and promotions that they will be exposed to. Secondly, even the people who do have a say in this department cannot do much about it because there is so much money involved in advertising and promotions that it will be difficult to stop. Money runs the world. Although I might have noticed this opportunity, others might have not. The people that use the internet and technology daily would see this as an opportunity. Those that do not use these things that often, like older people, would probably not see this as an opportunity.

2. Alachua county is first county in Florida to raise tobacco-buying age to 21.

- I found this opportunity while reading an article in the Gainseville Sun. The main customers from this opportunity are the people from ages 18-20 that have been buying these products for the last couple years while they have been of age. I cannot say I agree with this new ordinance. I think these tobacco companies will be losing a lot of money and consumers. I think this opportunity would have been easier to exploit years ago before there was all this controversy around young kids vaping and what not. However, today I believe it is very difficult to exploit because it is hard to change politicians minds once they have made them up. I believe that because I am 18, I was able to notice this as an opportunity because I had a right taken away from me. Those that might not see this as an opportunity are probably 21 years of age or older and they don't see it as one because it does not affect them. 

Identifying Local Opportunities

1. "County raises tobacco buying age to 21"

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&format=text&docref=news/17128118C04E4EE0

Two nights ago, Alachua county representatives voted to raise the tobacco-buying age from 18 to 21 years old. This is the first county in the state of Florida that has done so. The new law will go into effect in nine months from now. All tobacco products, including all vaping and nicotine products, are included in this new ordinance. People between ages 18-20, who have been buying these products for the last couple years, are now unable to feed their nicotine addiction.

2. "Man, 27, charged in Red Lobster Burglary"

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&format=text&docref=news/17128118F7421670

Early Tuesday morning, 27 year-old Parker Lee Prince suffered multiple charges involving a burglary at the Red Lobster located on Newberry. Police arrived at the restaurant before 2 am Tuesday morning. The cash register was damaged and all the money was taken out of it. Prince did not get very far, as he was caught and found nearby the scene. Gainesville's crime rate is noticeably high. Its residents want answers as more and more crime and mischief is taking place right outside their homes.

3. "Main Street post office dropbox burglarized"

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0122%21January%2B22&f=advanced&format=text&docref=news/17128118DC9C7E50

Last weekend, a dropbox in the local post office on Main Street was burglarized. What was stolen has still not been clarified. Some amount of mail was taken, however. A worker noticed that the dropbox had been sabotaged. Law enforcement is encouraging whoever last posted a check in that period of time to step forward. Once again, the crime rate in Gainesville is no joke. Its residents are concerned for not only the safety of their belongings, but themselves as well.

4. "Rain chances to increase as week continues"

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0120%21January%2B20&f=advanced&format=text&docref=news/1711D60397E8D1B0

With temperatures cooling and the skies remaining sunny, the window for increase chances of rain has opened. Temperatures continue to be inconsistently changing throughout the week. Some days reaching as low as 29 degrees with others reaching a high of 76. Gainesville, otherwise known as "Rainesville", might be a tough place to get around during this upcoming time period. Students that walk to class or use scooters will need to find other modes of transportation, unless they don't mind showing up to class soaking wet.

5. "High Springs fire chief charged with DUI Friday"

https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0119%21January%2B19&f=advanced&format=text&docref=news/17118190228

Bruce Gillingham, the High Springs Fire Chief, was charged with a DUI on Friday night after being involved in a car accident with another man. Mack hope, the other man involved, claimed that Gillingham rear-ended him. Apparently, they got in an intense argument after where Hope told police that he smelled alcohol coming off the fire chief's breath. How can a high ranking member of the local law enforcement be the one getting charged with DUI's? They are the ones who are supposed to be setting good examples and enforcing the law, not breaking it themselves. Local residents should be mad at their towns leadership and the recklessness that they have shown.

Forming an opportunity belief

There is definitely an unmet need for the bus system that runs through the University of Florida campus. Majority of the University of Florida community, including students, professors, workers, and others, have all experienced the unreliability of the bus systems. This untrustworthy system is causing the members of the UF community to be late to their destinations. This issue has not been around forever. The UF population and campus is constantly growing and expanding. The campus as a whole is getting more and more crowded, which in turn is having a negative impact on the bussing systems. Busses are having to travel longer distances to get places. They are forced to wait at crosswalks longer as more students are crossing streets on their ways to classes. The "Rider" app was invented to help people coordinate themselves with bus times. However, the app is now providing arrival times that users, including myself, can no longer trust. I believe there is a great opportunity to improve here. By adding more busses and bus routes, I think this issue can quickly be resolved.

1. Freshman student with no mode of personal transportation

• Have you experienced issues trusting the bus systems here on UF's campus?

 "No doubt in my mind. I do not even try to use the busses anymore because it is just a waste of time."

• When did you first experience issues with busses?

"Right when I got to UF in the beginning of the year. At first I thought it was because I was a freshman and didn't know much about the busses. However, I was told the Rider App would help me keep track of what times all the busses were coming, but they never came at the times that the app gave me."

• How are you dealing with this issue?

"I haven't really done anything about it. I don't think I can even really do anything about it. This seems like something that UF has to fix on their own."

• Has this method worked for you?

"Not at all. I know plenty of other people that complain about the busses yet we have not seen UF do anything to improve them. 

2. Junior that owns a car and lives on Fraternity Row

• Have you experienced issues trusting the bus systems here on UF's campus?

"I've been dealing with these issues for the past three years. They have only gotten worse too. 

• Does having a car on campus help do what the busses can't for you?

"You would think. Being that parking a car on campus is so difficult, I still try to take the bus to some of my classes."

• How are you dealing with the issue?

"I've learned over the past couple years that some of the busses are more reliable than others. There are a couple busses that are on time that I use during the week. For the ones that aren't, I usually just end up walking. 

• Is this method working for you? 

"I wouldn't exactly say that it is working. Think about it. I have a car and there are supposedly busses available yet I still find myself walking to class a couple days a week. It doesn't make much sense to me.

3. Sophomore that owns a scooter 

• Have you experienced issues trusting the bus systems here on UF's campus?

"That is why I have a scooter. I thought I would be able to use the busses throughout my years here to get to classes. I ended up having to buy a scooter because the busses were so unreliable."

• How long did it take before you bought the scooter?

"I put up with the busses for about two months. I got too fed up with it and my parents ended up buying me a scooter."

• How did you deal with the issue before you got your scooter?

"I didn't really do much. The only thing I could do was walk to where I needed to be. I also called Ubers sometimes."

• Did that method work for you?

"No not really. The Ubers were adding up and getting way too expensive. I was walking several miles a day which don't get me wrong was probably good for me, but it just got extremely annoying."

Reflection: I interviewed three students. They were all different ages and they all had different modes of transportation. I became aware that this issue is a problem for almost all students. It did not matter what age. It also did not matter that two of the three students had a scooter and a car. They still suffered from the untrustworthy busses. You'd think that by having busses, students would not need scooters. Turns out it was the opposite. The unreliable busses actually made it necessary for some students to purchase scooters. 

Summary: The original opportunity is still there and the three interviews back that up. I believe that my opportunity is definitely more accurate than when I started because now I know for a fact that these unreliable busses are affecting students of all ages, and even costing students money. As an entrepreneur, you aim to satisfy your customers. Therefore, customer feedback is extremely important because it gives business owners insight on what they do and do not like.  

My Entrepreneurship Story

I was best exposed to entrepreneurship during my senior year of high school. My economics professor taught three different economics classes to seniors. He came up with a competition where each class would design a product to sell to the rest of the school and whichever class made the most profit won. Each class had a budget of $1000. All the money was donated to charity but it still simulated the concept of a small business. I went to an all boys catholic school where we had to wear shirt and ties. Therefore, my class decided it would be a good idea to sell ties, since everyone at school had to wear one. We designed our ties as navy blue with our high school logo printed in small font all over the tie. The second class designed and sold beanie winter hats with our high school's logo on the front. The third class designed and sold sunglasses with our high school logo on the sides. However, before we started selling our products, we had to present them to our administration and get their approval since they were the ones funding the operation. Once all three ideas were approved, each class went around the school advertising their products and selling them to students for one whole week. The winter hats came in first place. Our ties came in second place. The sunglasses came in third place. I really enjoyed this project because it gave me an idea of what starting a business was like. There are so many things that go into starting a business that I had never even known about. That is why I enrolled in this class. I want to learn about all the different aspects of starting a business and what it means to be an entrepreneur. I think that it is important to have at least some knowledge about running your own business, no matter how big or small, because you never know where life might take you. I believe this class will do that for me.

Bug List

20 things that bug me:

1. Why do kids bully each other? Because their parents never taught them right from wrong.
2. Why do people chew with their mouths open? Because they were never taught proper manners. 
3. Why do people drive under the speed limit? Because they are too scared of getting pulled over. 
4. Why are parents bringing their children to weddings? Because they are too cheap to pay for a a babysitter. 
5. Why are weatherman getting paid to be wrong half the time? Because the weather is easily unpredictable. 
6. Why do people not cover their mouths when they cough? Because they do not care about the well-being of those surrounding them. 
7. Why do people not throw their garbage away? Because they don't care about the environment.
8. Why do people sleep with socks on? Because they are too lazy to take them off before they go to bed. 
9. Why does college tuition have to be ridiculously expensive? Because a good eduction is valuable. 
10. Why is it so hard for some people to be on time? Because they lack initiative and responsibility. 
11. Why do people not say "please" and "thank you"? Because they were never taught manners. 
12. Why do people interrupt one another? Because they only care about what they have to say. 
13. Why are people so easily offended these days? Because there are so many stereotypes and blanket statements said today. 
14. Why do people think it's okay to talk during a movie? Because they are selfish and don't consider the people surrounding them. 
15. Why do people continue to text and drive on the daily? Because they never think it will be them who gets in the car accident. 
16. Why do girls alway post selfies? Because they want to be told that they are pretty. 
17. Why are the Kardashians getting paid to simply exist? Because for some reason society cares a lot about what is going on in their daily lives. 
18. Why are people so high maintenance? Because they were spoiled when they grew up.  
19. Why are parents buying their little children iPhones? Because parents like when their kids are distracted.
20. Why do people lie? Because some people are afraid of the truth.

Coming up with this list of 20 bugs was not at easy as I though it would be. It was hard to think of them right off the top of my head. Most of the time you realize what bugs you when it happens in the moment. When you are forced to just list the things that bug you, like in this assignment, it is very easy to leave out some of your biggest pet peeves. However, once I was able to come up with a few things that bug me, I got on a roll and was able to keep listing them. 

CJ's first Post

Really excited to be a new member of the Blogger community,