Opportunity: LED lights have become cheaper than other lights, use less electricity, can now reproduce neutral temperature lights, lack mercury as in CFLs, and can be shatterproof but going through my daily life I still often see inferior lighting systems being used.
Who: Businesses and Consumers who use legacy light systems
What: They are using inefficient incandescent lights and CFLs, wasting electricity and thus money.
Why: They are using legacy systems that have yet to fail so aren't replaced.
Testing Who: Public institutions could use this as well. Really any institution of any sort that uses legacy lighting would be able to use it as well.
Testing What: Some people have talked about preferring the color temperature of incandescent lights and the electricity costs may be worth it to them.
Testing Why: They could be using legacy systems because of the upfront costs, and hassle of replacing the lights.
Interview 1: In this interview I talked to a friend who is a Computer Engineering student living in an apartment. I asked him why his bathroom lights were still incandescent and he felt that it didn't make sense for him to replace the lights on a rented apartment. He didn't want to give his landlord free lights or juggle around lights as he eventually moved out.
Interview 2: In this interview I talked to another friend living in a rented house. Their rented house was older but the landlord had mostly switched their lights to LEDs. They said only ones that weren't were in the laundry and in the chandelier hanging in the kitchen. They said that they used the laundry lights for such limited times that efficiency wasn't important. They also said that the chandelier used an old style of base that there weren't new LED lights for and that even if there were they wouldn't buy such specific lights that they would likely never use again.
Interview 3: In this interview I talked to a dorm student and asked him about the lights. He said he technically didn't have the ability to change the lights. He also said that he read about UF investing in a new college wide LED system.
Interview 4: In this interview I talked to the apartment manager where the legacy light systems were still being used. She said that they were still being used because they were too expensive to replace all at once and that the tenants paid the electricity costs so it wasn't in their financial interest to pay for their replacement before they had to. The street lights were still sodium lights because of the upfront costs of replacing them.
Interview 5: In this interview I talked to a home owner, where they were still using CFLs. They said shape of the house made it so the skylights were difficult to replace and would require a ladder and time to do. They said the hassle and there lack of time made it so they wouldn't replace them until they went out. Although they had replaced them in the easily accessible areas like the rooms.
Summary/Reflection: The boundaries of my hypothesis were tested. It made me expand my thinking to public institutions being potential consumers as well. It also made me think about the incompatibility some systems have with LED systems. I learned a lot of consumers live in rented areas and thus don't control the lights they use or don't see a benefit to improving someone else's property. I also learned about the upfront costs being a barrier to replacing them, because from my interviews people tend to think about the present moment and small future benefits tend to be neglected. To a lot of people the cost of the hassle of replacing the lights is more expensive than the electricity savings they are expected to receive.
Friday, May 31, 2019
6A – Identifying Opportunities in Economic & Regulatory Trends
Economic Opportunity: The Dow falls 618 points
Article of Trend: Dow ends the day down 618 points after dramatic day of losses
Opportunity Reasoning: I believe an opportunity exists because this is only happening after retaliatory trade tariffs were imposed by China on the US. Trade negotiations will likely lead to the dropping of the tariffs and stock prices will rise again.
Prototypical Customer: Stock Investors
Difficulty of Exploitation of Opportunity: Exploiting it would be mildly difficult because it would involve either being loaned money or convincing others to let you manage their money.
Why Did You See the Opportunity: I saw this opportunity because stock prices and specifically the Dow Jones index are one of the primary markers of economic health reported on by the news.
Economic Opportunity: Home prices rise faster than average incomes
Article of Trend: Young homebuyers scramble as prices rise faster than incomes
Opportunity Reasoning: There is a greater demand for housing than the supply especially in urban areas.
Prototypical Customer: People living in or wanting to live in desirable urban or suburban areas
Difficulty of Exploitation of Opportunity: Exploiting the opportunity would be mildly difficult due to the financial leverage, housing analysis, and proximity to the desirable urban area needed to exploit it
Why Did You See the Opportunity: I saw this opportunity because home prices are one of the most watched economic trends in american news media due to everyone needing a home.
Regulatory Opportunity: Illinois is likely to legalize weed
Article of Trend: Illinois likely to become 11th state to legalize recreational marijuana
Opportunity Reasoning: I believe the opportunity exists here because past examples of American states legalizing weed have lead to a booming market of cannabis sales.
Prototypical Customer: 21-40 year old Illinois residents
Difficulty of Exploitation of Opportunity: It wouldn't be very difficult to exploit. Cannabis grows readily and would be a good cash crop to grow.
Why Did You See the Opportunity: I saw this opportunity because I pay attention to the slow worldwide legalization of marijuana.
Regulatory Opportunity: The FCC wants to ban robocalls
Article of Trend: FCC Wants Phone Companies To Start Blocking Robocalls By Default
Opportunity Reasoning: I believe the opportunity exist because there is already logistics chains in place of businesses depending on robocalls for sales.
Prototypical Customer: Companies using robocalls for sales
Difficulty of Exploitation of Opportunity: I believe this would be very difficult to exploit since there are already call centers in place and you would have to compete with them.
Why Did You See the Opportunity: I saw this opportunity because I am an avid reader of NPR.
Article of Trend: Dow ends the day down 618 points after dramatic day of losses
Opportunity Reasoning: I believe an opportunity exists because this is only happening after retaliatory trade tariffs were imposed by China on the US. Trade negotiations will likely lead to the dropping of the tariffs and stock prices will rise again.
Prototypical Customer: Stock Investors
Difficulty of Exploitation of Opportunity: Exploiting it would be mildly difficult because it would involve either being loaned money or convincing others to let you manage their money.
Why Did You See the Opportunity: I saw this opportunity because stock prices and specifically the Dow Jones index are one of the primary markers of economic health reported on by the news.
Economic Opportunity: Home prices rise faster than average incomes
Article of Trend: Young homebuyers scramble as prices rise faster than incomes
Opportunity Reasoning: There is a greater demand for housing than the supply especially in urban areas.
Prototypical Customer: People living in or wanting to live in desirable urban or suburban areas
Difficulty of Exploitation of Opportunity: Exploiting the opportunity would be mildly difficult due to the financial leverage, housing analysis, and proximity to the desirable urban area needed to exploit it
Why Did You See the Opportunity: I saw this opportunity because home prices are one of the most watched economic trends in american news media due to everyone needing a home.
Regulatory Opportunity: Illinois is likely to legalize weed
Article of Trend: Illinois likely to become 11th state to legalize recreational marijuana
Opportunity Reasoning: I believe the opportunity exists here because past examples of American states legalizing weed have lead to a booming market of cannabis sales.
Prototypical Customer: 21-40 year old Illinois residents
Difficulty of Exploitation of Opportunity: It wouldn't be very difficult to exploit. Cannabis grows readily and would be a good cash crop to grow.
Why Did You See the Opportunity: I saw this opportunity because I pay attention to the slow worldwide legalization of marijuana.
Regulatory Opportunity: The FCC wants to ban robocalls
Article of Trend: FCC Wants Phone Companies To Start Blocking Robocalls By Default
Opportunity Reasoning: I believe the opportunity exist because there is already logistics chains in place of businesses depending on robocalls for sales.
Prototypical Customer: Companies using robocalls for sales
Difficulty of Exploitation of Opportunity: I believe this would be very difficult to exploit since there are already call centers in place and you would have to compete with them.
Why Did You See the Opportunity: I saw this opportunity because I am an avid reader of NPR.
5A – Identifying Local Opportunities
Beauty pros are embracing CBD products
Article Synopsis: This article describes the rapidly expanding use of CBD oil in the beauty industry. It talks about how various celebrities in the cosmetics industry have been promoting and using CBD products and how the market for CBD is expected to grow to $22 billion over the next 3 years.
Problem Opportunity: The problem is CBD oil is not standardized in potency so it can't be recommended in accurate doses to consumers.
The People: CBD oil using businesses, CBD oil prescribing physicians, CBD oil consumers
Vouchers could draw millions from Alachua County schools
Article Synopsis: This article describes how the Florida governor DeSantis has signed a bill that will give private school scholarships to lower income students. This is expected to divert away $11 million away from Alachua public schools and a $1 billion across the entire state.
Problem Opportunity: The problem is Alachua and Florida public schools will lose almost $1 billion in funding.
The People: Public Schools of Florida, Floridian parents with kids in public school, Floridian children in public school, Floridian public school staff
Some Florida cities to hit 100 degrees during Memorial Day heat wave
Article Synopsis: This article describes the heat wave that has hit Florida during memorial day. This is due to meteorological phenomena. The temperatures have been reaching as high as 100ºF.
Problem Opportunity: The problem is the temperatures in Florida are reaching dangerously high levels and are uncomfortable to live in.
The People: The population of Florida
Vehicle burglaries reported around Marion County
Article Synopsis: This article describes various vehicle burglaries happening in Marion County. 8 vehicles were burgled and various items left in the vehicles were stolen including 3 cases of redbull.
Problem Opportunity: The problem is vehicles in Marion county are being robbed and having the possessions inside taken.
The People: The vehicle owning populace of Marion County, businesses operating vehicles in Marion county
Gainesville to vote on plastic-straw ban
Article Synopsis: This article describes the vote happening in the Gainesville city commission deciding whether or not to ban plastic straws. Based on previous decisions made by the city commission where they decided to ban Styrofoam and plastic it is expected to go thorough. If it goes through the ban will take affect in 2020.
Problem Opportunity: The problem is people and businesses will have to switch from plastic straws and lose the convenience and logistics chains built up around plastic straws.
The People: The populace of Gainesville, Gainesville restaurants and fast food establishments
Article Synopsis: This article describes the rapidly expanding use of CBD oil in the beauty industry. It talks about how various celebrities in the cosmetics industry have been promoting and using CBD products and how the market for CBD is expected to grow to $22 billion over the next 3 years.
Problem Opportunity: The problem is CBD oil is not standardized in potency so it can't be recommended in accurate doses to consumers.
The People: CBD oil using businesses, CBD oil prescribing physicians, CBD oil consumers
Vouchers could draw millions from Alachua County schools
Article Synopsis: This article describes how the Florida governor DeSantis has signed a bill that will give private school scholarships to lower income students. This is expected to divert away $11 million away from Alachua public schools and a $1 billion across the entire state.
Problem Opportunity: The problem is Alachua and Florida public schools will lose almost $1 billion in funding.
The People: Public Schools of Florida, Floridian parents with kids in public school, Floridian children in public school, Floridian public school staff
Some Florida cities to hit 100 degrees during Memorial Day heat wave
Article Synopsis: This article describes the heat wave that has hit Florida during memorial day. This is due to meteorological phenomena. The temperatures have been reaching as high as 100ºF.
Problem Opportunity: The problem is the temperatures in Florida are reaching dangerously high levels and are uncomfortable to live in.
The People: The population of Florida
Vehicle burglaries reported around Marion County
Article Synopsis: This article describes various vehicle burglaries happening in Marion County. 8 vehicles were burgled and various items left in the vehicles were stolen including 3 cases of redbull.
Problem Opportunity: The problem is vehicles in Marion county are being robbed and having the possessions inside taken.
The People: The vehicle owning populace of Marion County, businesses operating vehicles in Marion county
Gainesville to vote on plastic-straw ban
Article Synopsis: This article describes the vote happening in the Gainesville city commission deciding whether or not to ban plastic straws. Based on previous decisions made by the city commission where they decided to ban Styrofoam and plastic it is expected to go thorough. If it goes through the ban will take affect in 2020.
Problem Opportunity: The problem is people and businesses will have to switch from plastic straws and lose the convenience and logistics chains built up around plastic straws.
The People: The populace of Gainesville, Gainesville restaurants and fast food establishments
Friday, May 24, 2019
4A – Forming An Opportunity Belief
Opportunity: I believe that there exists an opportunity in the distribution of succulents.
Belief: I believe it fulfills the culmination of a series of needs experienced by the average college aged millennial. There's almost like a feeling of wandering present in the zeitgeist of these times. It leads to them wanting to care for something, being in a situation with limited space, having a desire for bringing some level of decor or aesthetics to their apartment or dorm, and a desire for a connection to nature deriving from their appreciation of it. For the purpose of this assignment I'll choose a desire for a connection to nature as the primary need. I am reasonably sure this demand exists.
Iteration No.1
Identify prototypical customer: American College Student
Interview: American Male College Student Teenager
I learned that he was 18 and wasn't interested in cacti or succulents. In fact he wasn't interested in plants in general and preferred fish. They fulfilled his need for a connection to nature. He became aware of his need as he moved away from home for the first time and felt lonely so he acquired a betta fish. He was satisfied with his pet fish. The interviewee signaled wanting to end the interview early after this.
Reflect: I was somewhat discouraged by this but decided to continue interviewing. I was surprised at how quickly he lost interest in the interview. The interview made me want to see if women were more receptive to plants as there connection to nature and I changed my prototypical customer from american college students to female american college students.
Iteration No. 2
Identify prototypical customer: American Female College Student Early Twenties
Interview: I learned that she was 20 and loved plants in general. She was studying for a forestry major and enjoyed nature and walking in trails. She already possessed a couple succulents she purchased from home depot but said she would be interested in buying wider varieties than what is available at home depot. The reason why she likes them is because of their low maintenance needs, the color and shape and shine, the home decoration aspect and that keeping a living thing in her apartment makes her feel closer to nature. She also first became aware of her need after moving to an unfurnished apartment and she felt the need to add something alive but had limited time and space.
Reflect: I learned that there is indeed a need for a link to nature present in some people. I learned that there's already a market for succulents but the need is already being fulfilled by large chains. I also learned of a more niche demand for rarer succulents that aren't being fulfilled by aforementioned chains. This led to me thinking about shifting the primary need from a need for a connection to nature that's already being fulfilled to a need for an aesthetic connection to nature.
Iteration No. 3
Identity prototypical customer: American Female College Student Early Twenties
Interview: I learned that she was 20 and that she did feel a need for a connection to nature. She currently wasn't fulfilling her need in any way aside from her family dog which after the levels of domestication affecting it don't really feel like the connection to nature she desires. She just became aware of her need during the interview.
Reflect: I was surprised she answered that she did feel a need for a connection to nature but that she hadn't put thought into the desire or put effort into fulfilling it. I learned that there is a barrier to the self fulfillment of needs.
Summarize: After my interviewing, I recognized that women are more interested in plants in general. I also learned a couple of the reasons why they like succulents, and that there is an interest in more uncommon varieties of succulents. I learned that the general desire for a connection to nature is already being fulfilled through a variety of ways and that the belief has to be more specific. I believe my new beliefs are more accurate now and that i'll have to have many more interviews to narrow down the opportunities actually present. I believe entrepreneurs should always adapt to the what the customer demands since without any demand there is no business.
Belief: I believe it fulfills the culmination of a series of needs experienced by the average college aged millennial. There's almost like a feeling of wandering present in the zeitgeist of these times. It leads to them wanting to care for something, being in a situation with limited space, having a desire for bringing some level of decor or aesthetics to their apartment or dorm, and a desire for a connection to nature deriving from their appreciation of it. For the purpose of this assignment I'll choose a desire for a connection to nature as the primary need. I am reasonably sure this demand exists.
Iteration No.1
Identify prototypical customer: American College Student
Interview: American Male College Student Teenager
I learned that he was 18 and wasn't interested in cacti or succulents. In fact he wasn't interested in plants in general and preferred fish. They fulfilled his need for a connection to nature. He became aware of his need as he moved away from home for the first time and felt lonely so he acquired a betta fish. He was satisfied with his pet fish. The interviewee signaled wanting to end the interview early after this.
Reflect: I was somewhat discouraged by this but decided to continue interviewing. I was surprised at how quickly he lost interest in the interview. The interview made me want to see if women were more receptive to plants as there connection to nature and I changed my prototypical customer from american college students to female american college students.
Iteration No. 2
Identify prototypical customer: American Female College Student Early Twenties
Interview: I learned that she was 20 and loved plants in general. She was studying for a forestry major and enjoyed nature and walking in trails. She already possessed a couple succulents she purchased from home depot but said she would be interested in buying wider varieties than what is available at home depot. The reason why she likes them is because of their low maintenance needs, the color and shape and shine, the home decoration aspect and that keeping a living thing in her apartment makes her feel closer to nature. She also first became aware of her need after moving to an unfurnished apartment and she felt the need to add something alive but had limited time and space.
Reflect: I learned that there is indeed a need for a link to nature present in some people. I learned that there's already a market for succulents but the need is already being fulfilled by large chains. I also learned of a more niche demand for rarer succulents that aren't being fulfilled by aforementioned chains. This led to me thinking about shifting the primary need from a need for a connection to nature that's already being fulfilled to a need for an aesthetic connection to nature.
Iteration No. 3
Identity prototypical customer: American Female College Student Early Twenties
Interview: I learned that she was 20 and that she did feel a need for a connection to nature. She currently wasn't fulfilling her need in any way aside from her family dog which after the levels of domestication affecting it don't really feel like the connection to nature she desires. She just became aware of her need during the interview.
Reflect: I was surprised she answered that she did feel a need for a connection to nature but that she hadn't put thought into the desire or put effort into fulfilling it. I learned that there is a barrier to the self fulfillment of needs.
Summarize: After my interviewing, I recognized that women are more interested in plants in general. I also learned a couple of the reasons why they like succulents, and that there is an interest in more uncommon varieties of succulents. I learned that the general desire for a connection to nature is already being fulfilled through a variety of ways and that the belief has to be more specific. I believe my new beliefs are more accurate now and that i'll have to have many more interviews to narrow down the opportunities actually present. I believe entrepreneurs should always adapt to the what the customer demands since without any demand there is no business.
3A – Your Entrepreneurship Story
Entrepreneurship story: In my innovation academy class I am halfway in the process of developing a project for catalyst. The subject of the project is on developing a product or service that promotes some form of early childhood development. The class involved using the SPRINT process developed by google ventures in order to quickly develop or test a project. The project we selected as group was to develop a subscription based box service in order to encourage families to involve children in the cooking process, teach the parents to cook healthy food for their kids, and to develop healthy eating habits for their kids. To do that it would use a variety of recipes, cookie cutter style forms for vegetables to make them fun and bite size, and a concise nutritional information guide for the parents to better educate themselves. We have already narrowed the target audience to overweight, upper middle class, college educated families and are in the process of developing the service and its revenue model.
Why I am enrolled in the class: I'm enrolled in the class as part of my graduation requirement, but as a business major I am still very interested in entrepreneurship as a concept. I want to start a business a couple of years after first entering the work force.
Part of the initial brainstorming process: I am including a picture of part of the brainstorming process we had to go through to reach our final idea.
Why I am enrolled in the class: I'm enrolled in the class as part of my graduation requirement, but as a business major I am still very interested in entrepreneurship as a concept. I want to start a business a couple of years after first entering the work force.
Part of the initial brainstorming process: I am including a picture of part of the brainstorming process we had to go through to reach our final idea.
2A – Bug List
1. It's annoying to have to get from one side of campus to the other because of having to cross so many winding roads.
Why: The design of the school is very old and it evolved organically rather than being planned.
2. It's very hot on campus.
Why: It's hot because we live in Florida and all of the concrete and brick absorb and radiate heat.
3. The lights at campus are very dim at night and it makes the campus feel eerie.
Why: They are dim because they are using the traditional lamp design and old type of lights.
4. Emptying the coffee ground from my cup and rinsing it is a messy process.
Why: Coffee grounds are wet, sticky, and messy.
5. I feel very tired in the morning.
Why: I use my phone for way too long before I sleep and it cuts into my sleeping time.
6. I hate the sound of my alarm clock.
Why: The loud dissonant sound is very jarring to wake up to.
7. The benches and tables on campus are uncomfortable.
Why: They're uncomfortable because they are made of rough concrete or wood and don't have an ergonomic shape.
8. There's nothing to do in between classes.
Why: The limited time prevents you from engaging in anything with a time commitment.
9. Managing differing schedules on group projects is difficult.
Why: All of the group members have very specific differing work/school demands that make it difficult to find a time to work together that works for all of them.
10. Not being able to wear gym clothes at the gym is annoying
Why: Due to limited time you have to after class and would have to carry gym clothes with you all day.
11. You are hot and sweaty after going to the gym.
Why: Natural perspiration and heat from exercising.
12. Your phone dies too quickly during the day.
Why: Degradation of battery over time and non-replaceable battery.
13. Chargers are bulky and unwieldy
Why: Chargers have to have bulky transformers and decide between being a long or short length.
14. All the books the school makes you buy and the online systems connected to them.
Why: The book publishers have struck deals with UF to use their systems.
15. The difficulty of walking to campus from your apartment.
Why: The city layout was primarily created around the use of cars.
16. Having frequent distractions while studying or doing homework.
Why: Your phone and computer constantly have notifications/distractions but you also need to use your phone and computer to do your homework.
17. The bus apps for the Gainesville bus routes have poor user interfaces and are glitchy.
Why: The apps are poorly designed and don't have large enough development budgets.
18. Your car gets really hot in the summer and all metal features burn you.
Why: The car absorbs heat for hours and metal and leather conduct heat well.
19. Cooking takes up too much of your time but it's too expensive to eat out everyday.
Why: It takes time to cook raw food.
20. Constantly receiving spam calls on your phone
Why: Lack of regulation in telecommunications allows spammers to call you.
Reflection: It was initially hard to come up with ideas for bugs because I wasn't used to viewing the world in that way and consciously cataloging every inconvenience. As time went on I got better at it and have started spotting bugs just going through my daily life. The reasoning for why the bugs exist was easy to do from the start.
Why: The design of the school is very old and it evolved organically rather than being planned.
2. It's very hot on campus.
Why: It's hot because we live in Florida and all of the concrete and brick absorb and radiate heat.
3. The lights at campus are very dim at night and it makes the campus feel eerie.
Why: They are dim because they are using the traditional lamp design and old type of lights.
4. Emptying the coffee ground from my cup and rinsing it is a messy process.
Why: Coffee grounds are wet, sticky, and messy.
5. I feel very tired in the morning.
Why: I use my phone for way too long before I sleep and it cuts into my sleeping time.
6. I hate the sound of my alarm clock.
Why: The loud dissonant sound is very jarring to wake up to.
7. The benches and tables on campus are uncomfortable.
Why: They're uncomfortable because they are made of rough concrete or wood and don't have an ergonomic shape.
8. There's nothing to do in between classes.
Why: The limited time prevents you from engaging in anything with a time commitment.
9. Managing differing schedules on group projects is difficult.
Why: All of the group members have very specific differing work/school demands that make it difficult to find a time to work together that works for all of them.
10. Not being able to wear gym clothes at the gym is annoying
Why: Due to limited time you have to after class and would have to carry gym clothes with you all day.
11. You are hot and sweaty after going to the gym.
Why: Natural perspiration and heat from exercising.
12. Your phone dies too quickly during the day.
Why: Degradation of battery over time and non-replaceable battery.
13. Chargers are bulky and unwieldy
Why: Chargers have to have bulky transformers and decide between being a long or short length.
14. All the books the school makes you buy and the online systems connected to them.
Why: The book publishers have struck deals with UF to use their systems.
15. The difficulty of walking to campus from your apartment.
Why: The city layout was primarily created around the use of cars.
16. Having frequent distractions while studying or doing homework.
Why: Your phone and computer constantly have notifications/distractions but you also need to use your phone and computer to do your homework.
17. The bus apps for the Gainesville bus routes have poor user interfaces and are glitchy.
Why: The apps are poorly designed and don't have large enough development budgets.
18. Your car gets really hot in the summer and all metal features burn you.
Why: The car absorbs heat for hours and metal and leather conduct heat well.
19. Cooking takes up too much of your time but it's too expensive to eat out everyday.
Why: It takes time to cook raw food.
20. Constantly receiving spam calls on your phone
Why: Lack of regulation in telecommunications allows spammers to call you.
Reflection: It was initially hard to come up with ideas for bugs because I wasn't used to viewing the world in that way and consciously cataloging every inconvenience. As time went on I got better at it and have started spotting bugs just going through my daily life. The reasoning for why the bugs exist was easy to do from the start.
Friday, May 17, 2019
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