6A - Identifying Opportunities in Economic and Regulatory Trends

Economic Trend #1

https://www.nytimes.com/2019/01/23/opinion/cuba-embargo.html?rref=collection%2Ftimestopic%2FEconomic%20Conditions%20and%20Trends&action=click&contentCollection=timestopics&region=stream&module=stream_unit&version=latest&contentPlacement=6&pgtype=collection

I stumbled upon this economic trend recently when I was reading the New York Times online. that being said, this article points to the economic feud between Cuba and the United States that lasted roughly 60 years and was the result of political tensions incurred during America's cold war with the Soviet Union. Lifting the imposed embargo might however, open up economic opportunities to both nations and allow for increased trade to come into effect. Increased trade aims to benefit communities in the long run. The prototypical customer for a lifted embargo would be economically struggling communities along Florida's coast that are affected by limited access to resources. Access to trade would allow for these communities to become increasingly self-sufficient. The opportunity might be difficult to exploit given the fact that it deals with international relations primarily and actually requires legal intervention. I saw the opportunity due to the fact that I mainly grew up overseas and can distinctly see the need for increased global cohesion. This globalization allows for better understanding and less ethnocentricity in the long run. 

Regulatory Trend #1

https://www.nytimes.com/2019/01/23/world/africa/south-africa-corruption.html?rref=collection%2Ftimestopic%2FEconomic%20Conditions%20and%20Trends&action=click&contentCollection=timestopics&region=stream&module=stream_unit&version=latest&contentPlacement=7&pgtype=collection

Whilst reading the same New York Times as previously mentioned, I also stumbled upon this article that identifies a new regulatory shift towards ending corruption in South Africa. South African President Cyril Ramaphosa pledged to lead a new policy change geared towards legal precautions that would protect against corruption. President Ramaphosa has stated that the African nation cannot carry on with the way politics and negotiations have typically been presented since most have lost confidence in South Africa as a nation. Efforts to change the African National Congress have already taken part with various anti-corruption bills that have been passed in recent months. The prototypical customer might be those in official positions in South Africa who seek to promote a better standard of politics. The opportunity might be difficult to exploit given the nature of its governmental and political regulation. I saw this opportunity given the fact that I similarly saw corruption in our own UF Student Government when I was involved and see this article as a call to action.

Economic Trend #2

https://www.nytimes.com/2019/01/20/business/china-economy-growth-davos.html?rref=collection%2Ftimestopic%2FEconomic%20Conditions%20and%20Trends&action=click&contentCollection=timestopics&region=stream&module=stream_unit&version=latest&contentPlacement=16&pgtype=collection

I identified this economic trend by reading over the Economics section of the New York Times newspaper. This article talks about the slowdown of China's economy as strong growth and low unemployment rates fizzle out due to rising interest-rates and the resurgence of European economic markets. This information exists to show that China is a plausible environment for investment given the need for a boost and increasing foreign investment. The most likely customer would be foreign investors of even government agencies wanting to bolster the Chinese economy through investment and economic input. The opportunity is probably a medium difficulty to exploit given the fact that China has opened up opportunities for foreign interaction recently through decreased tariffs and economic quotas. I saw this opportunity through my diverse background. I feel comfortable with the notion that globalization benefits most through increased access to information and tighter bonds when it comes to an economic sense. 

Regulatory Trend #2

https://www.nytimes.com/2019/01/18/opinion/trump-government-shutdown.html?rref=collection%2Ftimestopic%2FEconomic%20Conditions%20and%20Trends&action=click&contentCollection=timestopics&region=stream&module=stream_unit&version=latest&contentPlacement=18&pgtype=collection

I saw this article in the New York Times whilst I was looking at regulatory changes that were going to take effect in America. The recent government shutdown impacted hundreds of thousands across the States. That being said, the Department of Agriculture has imposed new regulations aimed at providing farmers with access to loans and grants that would keep them in business during trying times. This would mean that federal lunch programs at schools will also maintain standards of quality due to farmer access to necessary resources. An opportunity might exist to impose new regulations due to the fact that outdated governmental practices have hindered significant American agricultural growth in the past few decades. The prototypical customer is essentially the average American farmer looking to stay employed during tough times. This means that the opportunity should be easy enough to exploit since regulation related to agricultural exploits is readily available to take into effect. Thus, opportunities within farming communities exist. I saw the opportunity due to the fact that my best friend's family is involved in agriculture. This simply means that I can see the problem in person when I hear his firsthand accounts of the issue at hand.

5A - Identifying Local Opportunities

1. Police: No tie between suspect, victims - No indication gunman planned to rob Sebring bank
Link: https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASFLB%21Sun%2BSentinel%2B%2528Fort%2BLauderdale%252C%2BFL%2529/year%3A2019%212019/mody%3A0125%21January%2B25&f=advanced&action=browse&format=text&docref=news/1712BD38084CEC78

Over the past few days, authorities have investigate possible motives for the recent shooting at a bank near Orlando. Although a personal connection with the shooter and his victims was first deemed somewhat plausible, investigation has deemed otherwise given the circumstances. Thus, another senseless tragedy has unfortunately become commonplace within the norms of cultural structure in the United States. The problem is unregulated guns and an ever-increasing access to weapons of destruction. The main individuals impacted by the problem would be every citizen in the United States given the fact that most of these unstructured attacks are random and pose a greater threat than initially thought.

2. Shutdown hurts agriculture - another viewpoint
Link: https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASFLB%21Sun%2BSentinel%2B%2528Fort%2BLauderdale%252C%2BFL%2529/year%3A2019%212019/mody%3A0125%21January%2B25&f=advanced&action=browse&format=text&docref=news/1712BD36973135C8

As the continuing government shutdown passes its 40th day we have reached levels of non-productivity that have now threatened quality of agriculture and food production around farms nationwide. This is due to the fact that farmers can't access federal grants and insurance that allow for assurance from disaster relief or already-threatened crop production levels amongst midwestern states. Long-term risks will end up impacting school lunch and breakfast programs that feed up to 2.9 million Florida students. These are families that rely on these federal meal plans to stay fed. The main issue of the government shutdown impacts all levels of society. In fact, the individuals most affected by the problem are farmers and families who rely on nationwide agriculture programs to keep farms operating and also feed their families.

3. Delray Beach closed for swimming due to bacteria
Link: https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASFLB%21Sun%2BSentinel%2B%2528Fort%2BLauderdale%252C%2BFL%2529/year%3A2019%212019/mody%3A0125%21January%2B25&f=advanced&action=browse&format=text&docref=news/1712BD395D85DC80

Recently, Delray Beach has been undergoing turbulent environmental conditions thanks to an influx of runoff from heavy rains and pollution-based activities. Research teams have been sent to the coastline near Delray Beach due to health advisory concerns and have been tasked with identifying plans of action. The individuals with the problem are the residents who live near the beachfront or even rely on water-based forms of recreation.

4. Major intersection to close lanes
Link: https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASFLB%21Sun%2BSentinel%2B%2528Fort%2BLauderdale%252C%2BFL%2529/year%3A2019%212019/mody%3A0125%21January%2B25&f=advanced&action=browse&format=text&docref=news/1712BD394EAEB290

Lane closures will take part in the ongoing installation of a water management station enclosed by Fort Lauderdale. This essentially will limit traffic for an ongoing period of at least a few weeks while road maintenance takes effect. Unfortunately, this simply means that detours will have to become part of life for Broward residents as they try to navigate new work routes. The individuals with the problem are mostly those who seek to avoid congestion and live in the Fort Lauderdale area for the next few weeks.

5. Day of service to honor victims - One year later, community reflects on MSD shooting
Link: https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3ASFLB%21Sun%2BSentinel%2B%2528Fort%2BLauderdale%252C%2BFL%2529/year%3A2019%212019/mody%3A0125%21January%2B25&f=advanced&action=browse&format=text&docref=news/1712BD39F5574600

One year since the Feb. 14th shooting at Marjory Stoneman Douglas last year, Palm Beach County community officials are seeking to have community service projects take place in roder to breed newfound happy memories. These happy memories will supplant wistful remembrances of the past tragedy that took place on Valentine's Day. The problem at heart retains to mental health awareness and how to recognize warning signs. Thus, the individuals with the problem at hand are millions of teens going through tough times at home, at work, etc. who need our help.

4A - Forming An Opportunity Belief

1) I definitely have a strong conviction that an opportunity exists in the Gainesville area. The nature of Gainesville being a small college town allows for it to serve as the perfect micro-environment for testing products that should be ripe for the market. Think of it this way. Gainesville is packed to the brim with college students who can't wait to become a part of the next craze. The environment is essentially an incubator for fresh ideas coming from the innovative students that call the local Gainesville area home.

2) The most eye-opening unmet need is a need for a form of public transportation that allows for students, teaching faculty, and campus workers to get to and from the various apartment complexes in a timely fashion. Simply put, the public transportation around Gainesville suffers from lengthy wait times and a lack of space to accompany the bulk of people who intend to benefit from the services. The need has essentially always existed and has been an age-old problem for Gainesville as it struggles to sometimes keep up with the transportation policies and technologies already present in larger cities. New York City has an alternative version of Uber called Via that is a ride-sharing app that allows for high discounts in exchange for a monthly subscription plan. Given that students, faculty, and campus workers most likely have schedules, a subscription to a reliable ride service could eliminate wait times and aid in overall productivity. What people are doing to meet this need now essentially results in either using different modes of transportation altogether or taking part in carpooling between friends. In terms of percent, I am maybe close to 60% sure that this opportunity exists.

3) Prototypical Customer: Student

4) Iteration No. 1: Most students agreed with me on the fact that a persistent need was not being sufficiently met by the public transportation system already in place. That being said, they experienced the need only sometimes, but still stated their interest in learning more about the potential opportunity and were engaged enough to understand the exact nature of the need which is to get from point A to point B in a reliable fashion. Most were addressing the need already through independent solutions such as biking or skateboarding to class.

5) Reflect:  This discussion allowed for me to understand my fellow student population better and seek to understand how needs change amongst the various levels of the market. Your customer base is very important in terms of gaining support or even exposure of your product, so definitely have a good sense of customer outreach if you want to maintain a healthy business.


3) Prototypical Customer: Teaching Faculty

4) Iteration No. 2: From the information I gathered I was able to understand that even though I thought there was a significant need for this product amongst students, older teaching faculty mostly had their own methods of transportation and were able to find their own way of doing things. This proves that both populations that were interviewed had fundamental differences that resulted in different views on the exact nature of the need. This population for instance, rarely had a need for the potential business opportunity I was proposing and thus, would not consider my product as a viable one for them to actively pursue.

5) Reflect: I was correct in my previous observation where I stated that the faculty would have different needs when compared with the student population. This is essentially due to the fact that the two customer bases are in different stages of life and essentially have differing views on what constitutes a potential need.


3) Prototypical Customer: Campus Workers

4) Iteration No. 3: After conducting an interview to better understand the various prototypical customers, I realized that the third group of "Campus Workers" reacted similarly in terms of awareness and satisfaction for the need of a subscription-based ride-share system. The awareness for the need was non-existent from the get go since most already were set in their ways for their transportation expectations and did not believe the need was personally substantial enough to necessitate a second thought or general consideration. Ultimately, the exact nature of the need fell upon deaf ears so to speak.

5) Reflect: As with the "Teaching Faculty" group above, the exact nature of the need was not felt necessary to fill. Thus, they never really became aware of the need necessarily. This means no potential market exists even after probing questions were asked. They did not seem too satisfied with the solution given the fact that the need was not present in general


Summarize: In this activity, I was able to closely examine an opportunity belief I expected to be a valuable one to pursue. After deliberation and interviewing prototypical customers I realized that there was little original opportunity still there due to little awareness and little concern for an innovative alternative. This leads me to believe that the new opportunity is definitely less accurate of a possibility than when I first started. I thoroughly believe entrepreneurs should learn to "adapt" their opportunities based on customer feedback because this process allows for continuous innovation to take place and companies to outsource innovation as a means of maintaining customer interest and satisfaction.

3A - Your Entrepreneurship Story!

My most profound entrepreneurship story would definitely have to be last spring semester's attempt at leading a team in designing an autonomous solar panel array that would track the sun as it moved across the sky in order to optimize the output of a solar panel setup. This involved taking part in budgeting and cost analysis procedures regularly to measure team success on a monthly basis in order to make sure tasks/funds were allocated appropriately. In leading a team of engineers on the design and build portion of the autonomous solar panel project, I myself learned how to be more autonomous. Through enhancing my leadership skills, I learned a sense of accountability and integrity for the work as project milestones were completed. In fact, last years entrepreneurial outing served as a benchmark for future endeavors that I hope to pursue as I move forward in my professional career. Please find an image attached below of the tracking LiDAR scanner my team used to allow for the solar panel system tracking arm to orient itself.

I enrolled in ENT3003 in order to free myself up to explore the entrepreneurial fire that burns deep within me. I would like to learn more about how to conceive and incubate business ideas and equally keep up the passion to work through failures and learn valuable lessons from the various setbacks that are expected. So far, I have had a great time getting familiarized with the material in this class and am very much looking forward to reading more about how to grow my ever-growing affinity for entrepreneurial pursuits.

2A - Bug List

1. When my roommate Anthony leaves his extra-large hamper full of dirty clothes in the middle of the hallway of our apartment.
Why the bug exists: This bug exists due to the fact that Anthony is an only child and grew up with parents that doted on him in a display of undisciplined overprotectiveness. Thus, he is more or less used to people taking care of things for him.

2. When I am driving to the Publix on Archer Road and people leave their shopping carts in the middle of parking spaces for no reason.
Why the bug exists: This is due to the fact that obviously anyone can get away with simply leaving the carts be. There is no sense of accountability for the shopping carts since some employee will most likely go and grab them eventually.

3. My apartment complex has had their mail notification system "out-of-service" for about three weeks now leading to multiple lost packages and complaints.
Why the bug exists: The bug is mostly due to a company-wide policy change. This meant that the mail notification system has to unfortunately go through a lengthy upheaval process that will require it to be fixed and updated, which resulted in the system being “out-of-service”.

4. My upstairs neighbor who argues with his mom on the phone at least once a week.
Why the bug exists: Most likely because my neighbor doesn’t see eye to eye with his mother and loses his cool.

5. When my roommate Alex chews his sandwiches loudly and it sounds like an airplane engine going off in my ears.
Why the bug exists: Probably due to the fact that he eats mouth open and unfortunately this simple act contributes to the sound of his chewing resonating within my ears.

6. Drivers who consistently try to merge lanes on University Avenue without using their turn signal.
Why the bug exists: They’re oblivious to the safety to other people and feel like they’re in the film Fast and Furious.

7. When I am handing out flyers near Turlington Plaza and someone throws out the flyer I just handed to them while they are still within my field of vision.
Why the bug exists: They feel obligated to be nice and feel a sense of responsibility to give back to fellow Gators. That being said, throwing the paper out just signals that they were disinterested in the first place.

8. When Superior Towing either boots or tows your car whenever they feel like it just because they can.
Why the bug exists: They feel like gods among men and rush out to boot peoples cars in order to fill their quotas for the month. This act brings in additional revenue for the company and serves as an incentive.

9. When I run out of toilet paper even though I swear I went out and bought some.
Why the bug exists: Probably because my roommates have used up my toilet paper without me knowing since we go into each others bathrooms.

10. This one kid named Shaun in my Statistics lab class that always talks over the TA trying to explain the class concepts to us.
Why the bug exists: This is because he probably wants to prove to everyone that he knows the course material more than most. It is essentially a form of humble bragging.

11. When random people invade my personal space when there is already plenty of space on the subway in New York City.
Why the bug exists: Some people grow up in households without a high regard for personal space and thus, get used to just spreading out and doing their own thing. This translates to a mindset that does not primarily focus on adhering to personal space rules.

12. When my best friend Allyssa reads my texts while I type them and doesn't value my personal privacy.
Why the bug exists: She does it to get a reaction out of me, but I don’t play her game.

13. When friends ask for advice, but they choose to be a big head and go against your advice.
Why the bug exists: This exists because friends are subconsciously hoping for validation of their own view. They’ve already made up their mind and decided on their personal course of action regardless of outside influence.

14. When you absolutely need your phone to do something important like look for directions, but somehow it only has 2% battery.
Why the bug exists: This bug exists since one probably has used up their phone battery on  their apps while they were bored. It can also be because they probably forgot to charge their phone before leaving the house.

15. When I am working out at the gym and someone is just sitting down at the machine on their phone.
Why the bug exists: Sometimes people just get stuck in the moment, especially on their phones, and unintentionally waste their time browsing social media.

16. When I go outside knowing it’s going to rain later in the day and I caught in the rain in an open area and my socks get wet.
Why the bug exists: This is due to the simple fact that in my excitement to head to campus each day, I most often forget my umbrella and unfortunately suffer the consequences with wet socks for the afternoon.

17. When you’re at a broadway show and the person next to you takes on both armrests.
Why the bug exists: Because they want to feel more comfortable and made the first move to claim both armrests.

18. When I get up to sharpen my pencil real sharp and then the lead breaks just as I sit down to use it.
Why the bug exists: One knows when you sharpen your pencil really sharp and long there is a small risk it might break because of the tip being so tiny, but they do it anyway.

19.  When someone listens to their music so loud and you can hear it from their head phones
Why the bug exists: Most likely it is due to the fact that they want to show off their music and listen to it at a sound level that best appeals to their listening pleasure.

20. When I am walking down the narrow hallway in Matherly Hall and slow-walkers are blocking the path ahead.
Why the bug exists: They’re aware they don’t have to be anywhere anytime soon, so they take their time and disregard  that the people behind them have somewhere to be.

Reflection:

This assignment has been definitely interesting given the fact that although coming up with instances that bugged me was simple enough, finding the reason why it specifically bugged me was slightly challenging. It forced me to look at the specific reasons why each circumstance affected me and what the fine details of said circumstance were. This warrants the fact that self-awareness and emotional intelligence go hand in hand in the world we live in.

Introductory Post for Patrick Murray Blog!

Just testing out the Blog features and getting to know the site and its functions better! So far this is pretty innovative and a joy to use.