(1) The opportunity that I would like to pursue is creating protective equipment for roofers that would protect them from potentially hazardous weather conditions. (2) Roofers are often susceptible to lightning strikes and other perilous injuries because lightning tends to strike taller objects (i.e. roofs) as they provide upward streamers to connect with downward lightning streamers.
(3) I believe that an opportunity exists because it addresses a real-life concern that is applicable to individuals who work within a prominent industry. There are currently over 50,000 corporations engaged in installation and roofing work valued at a total of $31.4 billion. In addition, the U.S. has 75 million single-family homes and on average, about 7% re-roof each year. While general guidelines are provided as to the type of clothing a roofer should wear (depending on the roofing system that he or she will be working on), there are no standard protective roofing equipment or gear that can be purchased. My current "who" captures an audience of individuals that all share this need because I am targeting a very particular market sector. As for the "what," this is somewhat dependent on the conditions in which a roofer finds him/herself in. I addressed earlier that the concern was regarding lightning strikes that may strike roofers due to their point of location, in terms of an elevated surface. Thus, the boundaries of the need could be considered limited by weather conditions---but weather conditions are not always predictable or accurately forecasted. This is therefore a rather loose limitation on the need. The reason for this need, or the "why," is prominently described in terms of scientific explanation. Since the basis for this need is rooted in science (higher platforms, like roofs, provide upward streamers that are more likely to connect with downward lightning streamers), there is a uniform "why" that holds for everyone who has this need.
(4) After interviewing five individuals who work within the roofing industry, I received some clarification regarding this opportunity. When asked why standard equipment is not offered for roofers, the general consensus was that variance within working conditions (some places may be extremely hot, while others extremely cold) prevent a particular uniform from being common-place for all roofers. Further, a primary concern among roofers, particularly those in southern states, is that the heat they work under can often be unbearable. I was told that wearing protective equipment would be very uncomfortable and stifling when working in the scorching sun for 8+ hours a day, making light-weight clothing often the preferred choice for these workers. The roofers did acknowledge the concern, however, regarding lightning strikes and potentially dangerous weather conditions. This was agreed to be a universal problem for all roofers, although protocols may be taken to avoid such problems. For example, all five individuals explained that their team would not perform roofing repairs during a thunderstorm or if the weather forecast implied dangerous working conditions. At the same time, it was also acknowledged amongst the interviewees that weather can often be unpredictable, offering some unforeseen circumstances. Of the five individuals, only one has experienced a serious injury after having fallen off a roof during an unexpected storm.
(5) After conducting the interviews, I better understood the perspective of the roofers and why standard protective equipment is not readily offered. As previously mentioned, heat was a primary concern. However, if protective equipment can be designed to be lightweight and airy, I still believe that this opportunity exists. For individuals performing work in colder conditions, he or she can wear multiple layers beneath the protective equipment. Although the exact specifications of protective gear, or what that would exactly look like for roofers is not yet known to me, I learned that there definitely is a need for such equipment due to the uncertainty of weather.
Friday, May 29, 2020
Identifying Opportunities in Economic & Regulatory Trends
1. Amid the COVID-19 pandemic, the mobile phone accessories market is projected to grow by an estimated USD $29.6 billion. This opportunity was found on ReportLinker, a search engine for economic and industry statistics. As COVID-19 has reinforced social distancing practices, society has become more digitized with many practices, such as meetings, being held via online platform like Zoom. Technology has also been a source of distraction for many consumers throughout quarantining periods. This has led to an increased usage of smartphones and influenced the mobile phone accessories market. I believe this information suggests that an opportunity exists because as mobile phone usage exponentially increases, there will be a greater need to supplement these devices with different accessories that make them more user-friendly and interactive. For example, a particular phone accessory would include protective cases. Since technology is so prevalent in society, particularly among younger ages, the prototypical consumer would be centered around the audience of consumers aged 15 to 24, who already spend an average time of four hours a day on their mobile phones. This opportunity, however, would relatively difficult to exploit because there are a lot of existing competitors and strong barrier to entry in the technology market.
I formed the belief that this opportunity exists due to personal experience. Throughout the current pandemic, I have found myself susceptible to societal trends, spending countless hours on my phone. Thus, I found this economic trend to be both relatable and realistic.
2. The global telehealth market is expected to reach USD $16.173 billion by 2024. This opportunity was found on Medgadget, a website about medical technologies. Although telehealth was already gaining traction among healthcare providers and patients due to the streamline of modern technology, this market has only substantially increased due to the current pandemic. As federal mandates have required non-urgent healthcare providers to close their offices and provide treatment to patients remotely. This has led to an increased demand for telehealth services. This information suggests that an opportunity exists because many healthcare providers will seemingly need to modify their business system in order to incorporate telehealth practices as part of their routine system going forward. I think the prototypical customer in this case would be most individuals employed within the healthcare industry, particularly therapists and counselors. This opportunity would be relatively difficult to exploit because this involves healthcare and technology, two industries that have a lot of competition and government regulations.
I formed the belief that this opportunity exists due to my sister-in-law, who is a licensed marriage and family therapist. Throughout the pandemic, she has primarily worked from home through telehealth and expressed to me that this will surely be more prevalent in the future. Having been exposed to this information first-hand made me recognize the implications of this trend.
3. The U.S. Food and Drug Administration has recently allowed minor ingredient changes without label disclosures amid the COVID-19 pandemic. This opportunity was found on Eater, a food and dining website that provides news about the restaurant industry. The FDA recently announced a new policy that allows food manufacturers to make minor ingredient substitutions without having to disclose such information on the ingredients list. This policy change comes amid the current pandemic and is meant to provide some flexibility to manufacturers in lieu of potential product limitations caused by COVID-19. This information suggests that an opportunity exists because many consumers will now need to further inspect their foods as such policies may allow for concerns among certain food communities. I think the prototypical customer would be individuals suffering from extreme dietary restrictions, such as food allergies, because minor ingredient changes can lead to serious health implications. This opportunity would be relatively difficult to exploit because this involves the FDA and different legal barriers.
I formed the belief that this opportunity exists because my roommate has serious dietary restrictions due to a peanut allergy. Since I have personally witnessed the severity of such an allergy (i.e. hives and swollen airways), I realized the ramifications that such a regulatory change could hold.
4. There appears to be an expansion in the definition of "personal information." This opportunity was found on RadarFirst, a management platform that explains data breach laws. The scope of what qualifies as personal information continues to expand, as many states are continuing to incorporate online credentials or biometrics to their legal definition of personal information. The manner in which a regulation defines personal information has influence on what may be considered a security breach---ultimately impacting privacy and security teams. This information suggests that an opportunity exists because many companies will now need to modify their privacy and security terms in order to avoid privacy risks or illegal security breaches. I think the prototypical customer would be individuals within the privacy sector of businesses, because they will be the ones facing the greatest scrutiny when it comes to handling of personal information. This opportunity would be relatively easy to exploit because increased legal services or consultation can be provided to properly advise companies when it comes to the handling of sensitive data.
I formed the belief that this opportunity exists because I have a strong fascination with the legal environment and how it affects the corporate world. I have also been particularly weary when it comes to providing personal information to online platforms or businesses, which made me interested in exploring this regulatory trend.
I formed the belief that this opportunity exists due to personal experience. Throughout the current pandemic, I have found myself susceptible to societal trends, spending countless hours on my phone. Thus, I found this economic trend to be both relatable and realistic.
2. The global telehealth market is expected to reach USD $16.173 billion by 2024. This opportunity was found on Medgadget, a website about medical technologies. Although telehealth was already gaining traction among healthcare providers and patients due to the streamline of modern technology, this market has only substantially increased due to the current pandemic. As federal mandates have required non-urgent healthcare providers to close their offices and provide treatment to patients remotely. This has led to an increased demand for telehealth services. This information suggests that an opportunity exists because many healthcare providers will seemingly need to modify their business system in order to incorporate telehealth practices as part of their routine system going forward. I think the prototypical customer in this case would be most individuals employed within the healthcare industry, particularly therapists and counselors. This opportunity would be relatively difficult to exploit because this involves healthcare and technology, two industries that have a lot of competition and government regulations.
I formed the belief that this opportunity exists due to my sister-in-law, who is a licensed marriage and family therapist. Throughout the pandemic, she has primarily worked from home through telehealth and expressed to me that this will surely be more prevalent in the future. Having been exposed to this information first-hand made me recognize the implications of this trend.
3. The U.S. Food and Drug Administration has recently allowed minor ingredient changes without label disclosures amid the COVID-19 pandemic. This opportunity was found on Eater, a food and dining website that provides news about the restaurant industry. The FDA recently announced a new policy that allows food manufacturers to make minor ingredient substitutions without having to disclose such information on the ingredients list. This policy change comes amid the current pandemic and is meant to provide some flexibility to manufacturers in lieu of potential product limitations caused by COVID-19. This information suggests that an opportunity exists because many consumers will now need to further inspect their foods as such policies may allow for concerns among certain food communities. I think the prototypical customer would be individuals suffering from extreme dietary restrictions, such as food allergies, because minor ingredient changes can lead to serious health implications. This opportunity would be relatively difficult to exploit because this involves the FDA and different legal barriers.
I formed the belief that this opportunity exists because my roommate has serious dietary restrictions due to a peanut allergy. Since I have personally witnessed the severity of such an allergy (i.e. hives and swollen airways), I realized the ramifications that such a regulatory change could hold.
4. There appears to be an expansion in the definition of "personal information." This opportunity was found on RadarFirst, a management platform that explains data breach laws. The scope of what qualifies as personal information continues to expand, as many states are continuing to incorporate online credentials or biometrics to their legal definition of personal information. The manner in which a regulation defines personal information has influence on what may be considered a security breach---ultimately impacting privacy and security teams. This information suggests that an opportunity exists because many companies will now need to modify their privacy and security terms in order to avoid privacy risks or illegal security breaches. I think the prototypical customer would be individuals within the privacy sector of businesses, because they will be the ones facing the greatest scrutiny when it comes to handling of personal information. This opportunity would be relatively easy to exploit because increased legal services or consultation can be provided to properly advise companies when it comes to the handling of sensitive data.
I formed the belief that this opportunity exists because I have a strong fascination with the legal environment and how it affects the corporate world. I have also been particularly weary when it comes to providing personal information to online platforms or businesses, which made me interested in exploring this regulatory trend.
Identifying Local Opportunities
1. Can't Find a Bike? Local Stores Not Expecting Restock Until October
https://www.firstcoastnews.com/article/news/health/coronavirus/cant-find-a-bike-local-stores-not-expecting-restock-until-october/77-9a4f220c-9e03-4887-acc5-74f313c9e9ca
After the COVID-19 pandemic caused local gyms to shut down, a sudden surge of interest in cycling has begun to emerge. Bike shops in Arlington and Avondale have seen a remarkable increase in business, causing these shops to ultimately run low on inventory. Beach cruisers have been particularly in high demand, and local bike shops estimate that inventory might not be restocked until October. In addition to the lack of inventory available, there is also a long wait---approximately four to six weeks---for bike repairs. The problem presented in this story is that many local stores have sold their existing inventory, preventing consumers from being able to readily purchase a bike during the pandemic. Thus, the individuals who have this problem are all local residents seeking to purchase a bike at an in-store shop in Northeast Florida.
2. 3 in Hospital After Roofer Gets Struck by Lightning in Middleburg
https://www.firstcoastnews.com/article/weather/severe-weather/3-in-hospital-after-being-struck-by-lightning-in-middleburg-fire-crews-say/77-e8a0cb58-481e-49e4-a07b-dde886bac029
Three roofers were were transported to the hospital after a lightning strike in Middleburg. One worker was directly struck while on top of a roof and went into cardiac arrest, causing paramedics to perform CPR before transporting the man to a local trauma center. Two others were also transported to the hospital after they experienced minor injuries from falling off the roof. The problem presented in this story is that roofers are susceptible to lightning strikes and other potential injuries during hazardous weather conditions. This is because lightning tends to strike taller objects (i.e. roofs). Thus, the individuals who have this problem are all roofers who construct or repair roofs as their occupation.
3. Reopening Jacksonville: Buffet Restaurants Struggle to Recover From COVID-19
https://www.jacksonville.com/entertainment/20200525/reopening-jacksonville-buffet-restaurants-struggle-to-recover-from-covid-19
Local buffets have been able to survive the mandatory shutdown due to COVID-19, but these restaurants fear that federal reopening recommendations will put them out of business. The U.S. Food and Drug Administration has recommended that self-serve food services are ended, causing Arden's Kountry Kafe & Katering to question the longevity of their business in Northeast Florida. While switching to a cafeteria-style restaurant may be feasible for big chain restaurants like Golden Corral, this does not seem applicable to local buffets. The problem presented in this story is that federal regulations have caused local self-serve restaurants to fear the future outlook of their business. Thus, the individuals who have this problem are all owners of local buffet-styled restaurants.
4. Coronavirus: Third JTA Bus Driver Tests Positive for COVID-19
https://www.jacksonville.com/news/20200523/coronavirus-third-jta-bus-driver-tests-positive-for-covid-19
One day after working a day-long shift, a JTA bus driver confirmed positive for COVID-19. The employee experienced symptoms and sought medical treatment at UF Health. This has been the third confirmed case among bus drivers in Jacksonville since April. Employees who have tested positive have been informed that they will not be allowed to return to work until evidence of negative test results are provided. The problem presented in this story is that bus drivers are being exposed to many people, increasing their risk of contracting COVID-19. Thus, the individuals who have this problem are all bus drivers and public servants who are in constant contact with people.
5. Coronavirus: Wedding Industry Takes a Hit From COVID-19
https://www.jacksonville.com/news/20200519/coronavirus-wedding-industry-takes-hit-from-covid-19
The recent developments with COVID-19 has caused a major disruption to the wedding industry and this impact has been particularly noticeable in Northeast Florida. Various vendors have experienced mass cancellations, which has ultimately resulted in a total loss of income. Some Jacksonville-based wedding vendors initially viewed 2020 to be the biggest year ever with many couples viewing the digits "2020" with superstition. However, with crowd restrictions and social distancing measures that have been put in place, wedding vendors have found themselves selling off inventory and shutting doors to rental companies in attempt to minimize losses. The problem presented in this story is that wedding vendors in Northeast Florida have been struggling to stay afloat amidst the current pandemic. Thus, the individuals who have this problem are all owners and employees in the wedding industry.
Friday, May 22, 2020
Forming An Opportunity Belief
Beginning Point and Describing My Belief: I have a belief that an opportunity exists, particularly in regards to the sock industry. This opportunity would be to establish a no-show sock company that offers a diverse range of sizes for all customers based on the dimensions of one's feet. The unmet need that this company would satisfy is reliable and guaranteed comfort for consumers wearing no-show socks. Many no-show socks today slip off the heel and slide down to the bottom of one's shoes when walking for a short period of time. This is because no-show sock companies offer limited or one-size-fits-all sizes, which proves to be an inconvenience and hassle for many individuals, including myself. Socks serve the purposes of protecting one's feet from unwanted friction and wicking moisture from sweat. This particular garment of apparel also holds different health implications, including the prevention of skin abrasions and fungal infections. The individuals who would have this need are those that incorporate no-show socks into their fashion or wardrobe---but in particular, those with larger or wider feet. This need has emerged after the recent popularization of no-show socks in the last few years. As fashion continues to hold a prominent role in society, different lifestyle magazines, like GQ and Vogue, have begun to popularize the no-show sock look (particularly amongst men). In order to meet this need today, many consumers opt to purchase high-end products from companies, such as Bombas, that sell a pack of four large (men shoe size 12-14) no-show socks for $45.60. This, in my opinion, is too expensive for a such a simple garment of apparel. Since there do not appear to be too many competitors in this market, I am 70% sure that a clear opportunity exists if the pricing for these socks can be significantly scaled down.
Prototypical Customer No 1: The first customer I spoke to a 27-year old male, with size 11 feet. He is highly interested in fashion and utilizes no-show socks in exercise, casual, and formal attire. His occupation is that of an occupational therapist and described himself as having an active lifestyle.
Iteration No. 1: He explained the exact nature of the need as being "comfort convenience." He becomes aware of this need on a daily basis, for he explained himself as having an active lifestyle consisting of constant movement. Thus, this is a relatively constant need. This need only became relevant, he explains, after he made the transition from conventional socks to no-show socks in the last three years. Interestingly enough, he explained that he became aware of the need the moment he first tried on no-show socks. He enjoyed the stylistic look but immediately realized the inconvenience when they would constantly slip off the heel. When asked how he is currently addressing the need, he said that he does not opt-in for more expensive alternatives and continues to use less expensive, smaller sized no-show socks. When his socks do slip off, he said he takes the time to remove his shoes and readjust the lining on his feet. Despite this inconvenience, he expressed content in this solution because "it simply works." Rather than taking the time to find no-show socks that fit the structure of his feet, he explained that the inconvenience is not unbearable and has very little influence on his daily routine.
Prototypical Customer No. 2: The second customer I spoke to is a 54-year old male, with very wide (size 9) feet. He has a steady subscription to the different lifestyle magazines for men, which has inspired him to stay in tune with modern fashion trends. He primarily utilizes no-show socks for casual or formal attire. His occupation is that of a building contractor and described himself as having a very active lifestyle.
Iteration No. 2: He explained the exact nature of the need as being "reliable socks that do not show, yet maintain the capability of staying on my feet." He becomes aware of the need primarily when he is working, because his socks tend to slip off whenever he wears closed-toe tennis shoes. While he may take notice of this inconvenience during other occasions, it only really bothers him when he is working because he does not have the time nor patience to adjust them. He further explained that while he did not always wear-no show socks, he has always worn low-cut socks "for as long as I can remember." Even when wearing low-cut socks, he explained that certain brands would not have sizes that accommodated to his wide-arch feet. This would often lead to him purchasing socks that were his normal shoe size but too restricting, or socks that were one size larger but too lengthy. When he transitioned to no-show socks last year, this issue only became reinforced. In order to currently address this need, he explains that he tries to buy the largest standard size no-show sock companies offer and then personally stretch them. He soaks his socks in water and then wraps them around wide containers or bottles overnight. While not the most convenient solution, he says that he does not know if socks warrant a premium price. However, he did say that he would consider buying no-show socks that better fit his feet structure as long as it would be "reasonably priced... no more than $5 per pair."
Prototypical Customer No. 3: The third customer I spoke to is a 22-year old female with size 11 feet. She designs clothing and considers herself to be a devoted follower of fashion. Currently a student attending college, she explained her lifestyle as being active because walking is her primary mode of transportation around campus.
Iteration No. 3: She explained the exact nature of the need being "comfort that allows for confidence---if you like how you look, then you like how you feel." She becomes aware of this need whenever she first purchases no-show socks, as they are usually too small for her size 11 feet. However, this need is only temporary for her, because she makes necessary modifications. A designer of her own personal clothing, she has developed a process for making her own no-show socks. She purchases standard-cut socks that comfortably fit her feet and then later cuts them lower so they are not noticeable when wearing shoes. Thus, this need for her is only very short-lived and temporary. Using the current solution that she has developed, she explained that it has proven to be the most "affordable and adaptable" option. Depending on the style of shoe she is wearing, she is able to personally tailor her socks to the exact specifications she desires. While this may sound like rather tedious work, she explained that she enjoys the satisfaction she feels in making her own solutions that are innovative and practical.
Reflection: After speaking to the different customers, I learned that there definitely exists an opportunity to address a need for comfort and convenience when it comes to the sock industry. The three customers explained that they all experienced the sensation of no-show socks slipping off their heels while wearing shoes and walking around. Similarly, all three customers had feet structures that were either too wide or too long for standard one-size-fits-all socks. However, the most surprising thing I learned about my opportunity after interviewing these different individuals is that there may not be a large enough desire to address this need amongst consumers. In other words, this identified need may not be big enough to support a sustainable business opportunity. Of the three customers, only one acknowledged that he may be interested in purchasing a more accommodating model of no-show socks (but if only at the right price). The other two individuals either did not recognize the inconvenience as having a considerable hindrance on daily life or found different personal solutions that effectively addressed the need.
Summary: After completing my interviews with the customers, I realize that much of my initial opportunity is no longer there. While I was initially 70% sure that a clear opportunity existed, I am now only 30-40% sure. Since I was able to take into account the feedback from actual prototypical customers, I strongly believe that my new opportunity belief is more accurate than when I started. I think it is imperative to consider the role that customers play and all entrepreneurs should adapt their opportunities based on customer feedback. At the end of the need, entrepreneurs are looking to provide improvement or alleviate a customer need. However, if customers, themselves, do not view a particular need as existing, then entrepreneurs should reconsider the relevance of their business.
Prototypical Customer No 1: The first customer I spoke to a 27-year old male, with size 11 feet. He is highly interested in fashion and utilizes no-show socks in exercise, casual, and formal attire. His occupation is that of an occupational therapist and described himself as having an active lifestyle.
Iteration No. 1: He explained the exact nature of the need as being "comfort convenience." He becomes aware of this need on a daily basis, for he explained himself as having an active lifestyle consisting of constant movement. Thus, this is a relatively constant need. This need only became relevant, he explains, after he made the transition from conventional socks to no-show socks in the last three years. Interestingly enough, he explained that he became aware of the need the moment he first tried on no-show socks. He enjoyed the stylistic look but immediately realized the inconvenience when they would constantly slip off the heel. When asked how he is currently addressing the need, he said that he does not opt-in for more expensive alternatives and continues to use less expensive, smaller sized no-show socks. When his socks do slip off, he said he takes the time to remove his shoes and readjust the lining on his feet. Despite this inconvenience, he expressed content in this solution because "it simply works." Rather than taking the time to find no-show socks that fit the structure of his feet, he explained that the inconvenience is not unbearable and has very little influence on his daily routine.
Prototypical Customer No. 2: The second customer I spoke to is a 54-year old male, with very wide (size 9) feet. He has a steady subscription to the different lifestyle magazines for men, which has inspired him to stay in tune with modern fashion trends. He primarily utilizes no-show socks for casual or formal attire. His occupation is that of a building contractor and described himself as having a very active lifestyle.
Iteration No. 2: He explained the exact nature of the need as being "reliable socks that do not show, yet maintain the capability of staying on my feet." He becomes aware of the need primarily when he is working, because his socks tend to slip off whenever he wears closed-toe tennis shoes. While he may take notice of this inconvenience during other occasions, it only really bothers him when he is working because he does not have the time nor patience to adjust them. He further explained that while he did not always wear-no show socks, he has always worn low-cut socks "for as long as I can remember." Even when wearing low-cut socks, he explained that certain brands would not have sizes that accommodated to his wide-arch feet. This would often lead to him purchasing socks that were his normal shoe size but too restricting, or socks that were one size larger but too lengthy. When he transitioned to no-show socks last year, this issue only became reinforced. In order to currently address this need, he explains that he tries to buy the largest standard size no-show sock companies offer and then personally stretch them. He soaks his socks in water and then wraps them around wide containers or bottles overnight. While not the most convenient solution, he says that he does not know if socks warrant a premium price. However, he did say that he would consider buying no-show socks that better fit his feet structure as long as it would be "reasonably priced... no more than $5 per pair."
Prototypical Customer No. 3: The third customer I spoke to is a 22-year old female with size 11 feet. She designs clothing and considers herself to be a devoted follower of fashion. Currently a student attending college, she explained her lifestyle as being active because walking is her primary mode of transportation around campus.
Iteration No. 3: She explained the exact nature of the need being "comfort that allows for confidence---if you like how you look, then you like how you feel." She becomes aware of this need whenever she first purchases no-show socks, as they are usually too small for her size 11 feet. However, this need is only temporary for her, because she makes necessary modifications. A designer of her own personal clothing, she has developed a process for making her own no-show socks. She purchases standard-cut socks that comfortably fit her feet and then later cuts them lower so they are not noticeable when wearing shoes. Thus, this need for her is only very short-lived and temporary. Using the current solution that she has developed, she explained that it has proven to be the most "affordable and adaptable" option. Depending on the style of shoe she is wearing, she is able to personally tailor her socks to the exact specifications she desires. While this may sound like rather tedious work, she explained that she enjoys the satisfaction she feels in making her own solutions that are innovative and practical.
Reflection: After speaking to the different customers, I learned that there definitely exists an opportunity to address a need for comfort and convenience when it comes to the sock industry. The three customers explained that they all experienced the sensation of no-show socks slipping off their heels while wearing shoes and walking around. Similarly, all three customers had feet structures that were either too wide or too long for standard one-size-fits-all socks. However, the most surprising thing I learned about my opportunity after interviewing these different individuals is that there may not be a large enough desire to address this need amongst consumers. In other words, this identified need may not be big enough to support a sustainable business opportunity. Of the three customers, only one acknowledged that he may be interested in purchasing a more accommodating model of no-show socks (but if only at the right price). The other two individuals either did not recognize the inconvenience as having a considerable hindrance on daily life or found different personal solutions that effectively addressed the need.
Summary: After completing my interviews with the customers, I realize that much of my initial opportunity is no longer there. While I was initially 70% sure that a clear opportunity existed, I am now only 30-40% sure. Since I was able to take into account the feedback from actual prototypical customers, I strongly believe that my new opportunity belief is more accurate than when I started. I think it is imperative to consider the role that customers play and all entrepreneurs should adapt their opportunities based on customer feedback. At the end of the need, entrepreneurs are looking to provide improvement or alleviate a customer need. However, if customers, themselves, do not view a particular need as existing, then entrepreneurs should reconsider the relevance of their business.
My Entrepreneurship Story
Back in freshman year of college, my roommate and I had serious entrepreneurial aspirations. We recognized that first-year students, particularly those from out of state, often had a hard time acclimating to the different nuances that college offered. Of these nuances, included the social pressure of meeting new people and developing friendships. While many students alleviate this concern by joining Greek Life, we recognized that not everyone may be interested in joining such a culture nor have the monetary means to do so. Thus, my roommate and I hoped to create an app that would allow for connectivity amongst students on a college campus based on mutual interests and aspirations. During weekends, we frequently found ourselves in Marston Library, where we would be sketching the interface of the app on paper and ironing out different details. When attempting to further develop the idea, however, we realized that the "need" that we were addressing was never adequate enough to begin with. We had sold ourselves on an idea and continued to pursue it without taking the time to analyze it with a critical eye. That freshman year experience served as a valuable lesson to both my roommate and I. We realized that entrepreneurial efforts will not succeed if a sufficient need is not being addressed. We were rather naive and confused at the time, fueled by romanticized college success stories like Bill Gates and Evan Spiegel.
Despite that whole experience, I still maintain entrepreneurial aspirations today. I still want to devise an innovative plan and pursue my own business idea. But, before doing so, I want to have a deeper understanding of what the process of entrepreneurship truly entails. This is the very reason why I have enrolled in ENT 3003. By learning the different facets of entrepreneurship and what it really means to be an entrepreneur, I would be able to apply that knowledge to any of my future endeavors. Funny enough, my roommate is also currently enrolled in this course---with the same intentions and question in mind: what is entrepreneurship?
Despite that whole experience, I still maintain entrepreneurial aspirations today. I still want to devise an innovative plan and pursue my own business idea. But, before doing so, I want to have a deeper understanding of what the process of entrepreneurship truly entails. This is the very reason why I have enrolled in ENT 3003. By learning the different facets of entrepreneurship and what it really means to be an entrepreneur, I would be able to apply that knowledge to any of my future endeavors. Funny enough, my roommate is also currently enrolled in this course---with the same intentions and question in mind: what is entrepreneurship?
Bug List
1. My no-show socks slip off my heel and down to the bottom of my shoes when I am walking for a short period of time.
3. Large files or documents take forever to send, or simply fail, via iMessage.
Why: iMessage content limit is 100 MB per message and anything near or over that size will have difficulty sending.
4. Google Chromecast sometimes does not recognize any available devices despite there being steady WiFi connection.
Why: Sometimes Chrome discovers a device on the network but cannot establish a connection to it due to router or networking settings.
5. Individuals sometimes drive closely behind the rear of my car, even when I am already exceeding the appropriate speed limit.
Why: People often think that closing in on the person in front of them will make that person go even faster.
6. The cable of my charging devices break so easily and the different wires protrude.
Why: Apple uses a thin and soft protective covering made of rubber instead of PVC for their chargers.
7. When I call a company's customer service, I am often put on hold for an extensive amount of time while annoying music plays to fill the silence.
Why: Customer service often keep customers on hold because they are understaffed to respond to complaint calls or technical service or merchandise returns.
8. When my roommates open our apartment door very abruptly, it makes a sharp squeaky noice.
Why: Door hinges squeak because of friction when there isn't enough lubrication or if it has dried up.
9. My favorite pieces of apparel shrink in the dryer even after using standard or low temperatures.
Why: As the dryer tosses around a load of clothes in a warm and enclosed area, it forces the fibers to gradually constrict.
10. The drive-through machines at restaurants do not always adequately detect or transmit information.
Why: Drive through machine headsets allow too much extraneous noise into the conversation between order takers and crew members.
11. Jersey Mike's on Southside Jacksonville said it was open online, despite having been permanently shut down for business.
Why: The business failed to update its business profile on Google.
12. The Crest toothpaste I use always leaves a blue residue in my sink.
Why: When toothpaste falls from the brush, the smooth contact surface of the sink often causes adhesion.
13. Gum often gets dissolved into tiny grainy pieces when I am studying after chewing for a while.
Why: There are enzymes, such as amylase, that can cause gum to break down.
14. My Macbook laptop makes a disruptive fanning noise when I have multiple applications running at the same time.
Why: Many Apple products turn on internal fans to bring cooling airflow to critical components if your device's processor is working on intensive tasks.
15. Packages I order online frequently get shipped to the repeatedly same and incorrect address within my neighborhood.
Why: The other address contains the same house number, but a different street type.
16. My Brita pitcher has a slow filter rate, making it very difficult to completely fill up in a fast and efficient manner.
Why: Clogged or fouled water filters lead to slow filtration processes.
17. I will occasionally receive FaceTime calls on my iPhone, but not on my Macbook laptop.
Why: Phone number and Apple ID are not linked under FaceTime preferences.
18. Ceramic plates and silverware placed in my dishwasher are still wet at the end of a complete cycle.
Why: Stacking multiple items makes for poor air circulations and can leave some items damp.
19. The hot water in my shower is only lukewarm if my roommates have showered before me.
Why: Taking long showers can use enough hot water to run out of your supply in the hot water tank.
20. Cars have a tendency to cause traffic by dramatically slowing down, even below the permitted speed limit, if a police officer is nearby.
Why: Drivers immediately slow down due to acquired fear of getting a speeding citation.
Why: Most no-show sock brands sell these socks in 1 or 2 sizes, of which are often too small for many people.
2. It takes two hours for my phone to charge completely, yet the battery gets depleted after only one hour of usage.
Why: As a lithium-ion battery degrades over time, the amount of charge and the ability to provide power reduces.
2. It takes two hours for my phone to charge completely, yet the battery gets depleted after only one hour of usage.
Why: As a lithium-ion battery degrades over time, the amount of charge and the ability to provide power reduces.
3. Large files or documents take forever to send, or simply fail, via iMessage.
Why: iMessage content limit is 100 MB per message and anything near or over that size will have difficulty sending.
4. Google Chromecast sometimes does not recognize any available devices despite there being steady WiFi connection.
Why: Sometimes Chrome discovers a device on the network but cannot establish a connection to it due to router or networking settings.
5. Individuals sometimes drive closely behind the rear of my car, even when I am already exceeding the appropriate speed limit.
Why: People often think that closing in on the person in front of them will make that person go even faster.
6. The cable of my charging devices break so easily and the different wires protrude.
Why: Apple uses a thin and soft protective covering made of rubber instead of PVC for their chargers.
7. When I call a company's customer service, I am often put on hold for an extensive amount of time while annoying music plays to fill the silence.
Why: Customer service often keep customers on hold because they are understaffed to respond to complaint calls or technical service or merchandise returns.
8. When my roommates open our apartment door very abruptly, it makes a sharp squeaky noice.
Why: Door hinges squeak because of friction when there isn't enough lubrication or if it has dried up.
9. My favorite pieces of apparel shrink in the dryer even after using standard or low temperatures.
Why: As the dryer tosses around a load of clothes in a warm and enclosed area, it forces the fibers to gradually constrict.
10. The drive-through machines at restaurants do not always adequately detect or transmit information.
Why: Drive through machine headsets allow too much extraneous noise into the conversation between order takers and crew members.
11. Jersey Mike's on Southside Jacksonville said it was open online, despite having been permanently shut down for business.
Why: The business failed to update its business profile on Google.
12. The Crest toothpaste I use always leaves a blue residue in my sink.
Why: When toothpaste falls from the brush, the smooth contact surface of the sink often causes adhesion.
13. Gum often gets dissolved into tiny grainy pieces when I am studying after chewing for a while.
Why: There are enzymes, such as amylase, that can cause gum to break down.
14. My Macbook laptop makes a disruptive fanning noise when I have multiple applications running at the same time.
Why: Many Apple products turn on internal fans to bring cooling airflow to critical components if your device's processor is working on intensive tasks.
15. Packages I order online frequently get shipped to the repeatedly same and incorrect address within my neighborhood.
Why: The other address contains the same house number, but a different street type.
16. My Brita pitcher has a slow filter rate, making it very difficult to completely fill up in a fast and efficient manner.
Why: Clogged or fouled water filters lead to slow filtration processes.
17. I will occasionally receive FaceTime calls on my iPhone, but not on my Macbook laptop.
Why: Phone number and Apple ID are not linked under FaceTime preferences.
18. Ceramic plates and silverware placed in my dishwasher are still wet at the end of a complete cycle.
Why: Stacking multiple items makes for poor air circulations and can leave some items damp.
19. The hot water in my shower is only lukewarm if my roommates have showered before me.
Why: Taking long showers can use enough hot water to run out of your supply in the hot water tank.
20. Cars have a tendency to cause traffic by dramatically slowing down, even below the permitted speed limit, if a police officer is nearby.
Why: Drivers immediately slow down due to acquired fear of getting a speeding citation.
Reflection: I took the methodical process of writing down 1-2 bugs that I noticed each day. After accumulating all 20 of my bugs, I realized that while many of these bugs exist throughout my everyday life, I never really recognized them until I made a concerted effort to identify things that bother me. Thus, after identifying these different bugs, I also realized that many of them had simple solutions after taking the time to consider why they even exist. Lastly, I noticed that many of my different bugs pertained to technological inconveniences that I would experience during my daily routine.
Thursday, May 14, 2020
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