Thursday, January 31, 2019

8A – Solving The Problem

The problem I'd detailed in my last post was the problem that moving can be quite a hassle when it comes to moving furniture. For instance, dressers, couches, bookcases, and beds are the worst, usually taking a lot of disassembly to even begin to move. Because of this, there is an opportunity to solve this problem in a lucrative way. I'd mentioned it in my last post, but my idea is to create a line of furniture all about easy movement; both in moving from one home to another to simply moving from one room to another. After a long, initial design period, the product shouldn't be difficult to make and will easily ship, as the idea implies. Not only will the product solve the problem of people's moving difficulties, but it will also be easily stored and shipped when purchased; this cuts out the necessity for a furniture store. The ability to fold down for easy movement also means that the pieces can come already assembled and ready for use. In summary, this is a line of furniture that will be easily folded, deflated, taken apart, etc. in order to easily move it. The product solves the problem people have when moving and allows for easy sale without having a physical store and low shipping costs.

Wednesday, January 30, 2019

7A - Testing the Hypothesis, Part 1

The venue I want to start was mentioned in a previous exercise, and this venue is movable, foldable furniture. This opportunity targets anyone who has ever had to move and will move again, so college students moving into dorms, people selling their homes, or anyone who moves around a lot due to business. Constantly having to move and dissassemble furniture is a pain, so my line of furniture aims to allow my customers to move their furniture without having to go through the hassle of dissembly and multiple trips. This line of furniture would be easily sellable and quite lucrative.

I'm sure that there are more people than mentioned above that would purchase this product. Honestly, anyone who has ever had to move, or is loathing the day they will have to move, will appreciate and potentially purchase this product. The clear boundary for my need would be the cost of assembly and designing the products themselves. While I'm sure that people would purchase a product like this, it would it take a significant amount of time and a hefty investment to get this project off the ground. I'm also certain that many people will not purchase the product, despite it being able to help them. Some would discount it thinking that it might not be as comfortable or reliable as their normal line of furniture. Others probably already have furniture that they wouldn't want to get rid of in exchange for these products. This present the major issue that I will face, which is revolving around the supply and demand of the product; I will need to produce enough to sell to the general public, but not too much where I begin to hurt my potential profits.

Interview 1: Shania (UF Student)
Upon asking her, who has the problem with moving furniture, she immediately pointed to herself, as she's moved over three times in the last year. She thinks the main problem with moving is having to carry everything from point A to point B; while her father owns a truck to move everything, it still gets completely packed to the point where she has to leave some things behind. She thinks this problem occurs because she wants to take all her items from one home to another, instead of getting rid of some things. This as well as either having to make the decision between several trips with the cars you own, or renting a large truck, like a uHaul to move everything.

Interview 2: Adrian (UF Student)
Upon asking him who has this problem, he responded with, anyone between the age of graduating high school and college. This is because this is when most people move out of their parent's homes. The main problem people have when moving out is that they want to take most of the furniture they had as children and keep it with them. This on top of other furnitures they will be purchasing add up. This problem is caused by most modern apartments and dorms not accommodating for people bringing in furniture.

Interview 3: Aaron (UF Student)
When I asked him who has this problem, he stated that he along with many others have this problem. Because of his parents' businesses, he moved around over forty times in his life, about fifteen of which were in the last two years. He said that the problem of moving comes with having to move all of his furniture to a new place. He's downsized on the amount of furniture he has, but it's still a hassle to move anywhere.

Interview 4: Adis (My mom)
My mother hasn't had to move very much nor very far in her lifetime, so she can't really relate to this problem; but despite this, she stated that she can still relate, because she'll be moving very soon. The problem is that, she has to move furniture that is old with sentimental value, but still useable furniture. While these pieces of furniture are irreplaceable, there are still many irrelevant piece, like television stands and dressers that can be disposed of for new furniture. Ideally, my prototypical line that would easily moved.

Interview 5: Amanda (Sister)
My sister has never had to move herself, but now that she'll be having to move soon, as well as helping her boyfriend move to a new home, she's realized how difficult it is. She thinks anyone who moves furniture, even just around the house, is a victim of this problem. The problem itself is that furniture can range from very small and light, to large and heavy, like a bed frame or couch. Because the weight and size are issues, the normal way to compensate is just to rent a large truck to carry everything. While this is an alright fix for large moves, there is still the issue of re-decorating and simply moving furniture around.

Summary: Upon going back, I never really considered the possibility of marketing to both, businesses like apartment complexes as well as the everyday consumer who likes to move their furniture from time to time. These two groups of people would be easy to target for advertisement as they would provide a steady flow of business. As for the what and why, there wasn't much I learned from the interviews.

Friday, January 25, 2019

6A – Identifying Opportunities in Economic & Regulatory Trends

1. Economic: Medical marijuana dispensary plans five-store expansion
a. Article
b. With the recent lift on marijuana bans across the country, it has become quite the sought-after commodity. California for example has been selling out of marijuana at an astronomical rate. While Florida hasn't lifted its ban on recreational use, its lift on a medical ban, under a governor who doesn't seem like an advocate for the substance, is a sign that it is on the rise. I can only imagine that, given time, the product will begin to sprout companies that will have stocks; stocks that up and coming investors like myself can invest in.
c. I can only imagine that investors of all types will be jumping on an opportunity to invest in companies that sell marijuana. However, the typical customer of marijuana will not change: those with medical documents claiming they need it and stoners. The last major consumer of this product will be those who dispense it, such as this dispensary talked about in the article that is aggressively expanding.
d. While this opportunity seems like an easy one to jump aboard on, I can only imagine the entry into these kinds of stocks, if they prove to be successful, will be rather high. Only the smartest and the richest will be able to make good profits on this; and even then, stocks are always uncertain.
e. When it comes to news of marijuana legalization, most people either look at the politics of it, or the fact that they will have access to marijuana legally. Now, I'm sure I'm not the only one to consider the financial possibilities that legalization brings along with it, but I'm certain that not everyone thinks about the financials of it, apart from how much it will cost. I don't think I'm extremely well qualified to go in depth in the matter, but I'm certain on something, that there is a lot of money to be had in this business.

2. Regulatory: sea level rise - Fed up with floods, homeowners and cities examine how to raise houses - After Hurricane Irma flooded her Coconut Grove home, Penny Tannenbaum decided to elevate it to protect her property from climate change, but she couldn't find straight answers. The city of Miami is now revising its codes to make preparing for sea level rise and storms easier.
a. Article 2
b. With rising sea levels around the globe, people in coastal cities are starting to feel pressured by the ever rising waters. This has led to people, like the woman in this article, becoming increasingly frustrated with their local governments for not dealing with this potentially catastrophic issue. However, this has led me to believe there is an opportunity for profit and regulatory change here. With the sea levels rising by the day, eventually governments will cave and begin to both lift land codes and regulations, as well as take action on the world's climate. This will lead to major changes all across the nation, with stocks of companies that produce pollution going down, and those that help the environment going up. But the more pressing economic opportunity comes in the form of real estate. People are going to need to lift their homes off the ground and away from the water in order to maintain their homes.
c. The consumers of this opportunity will anyone living in a coastal city, or simply those concerned with the safety and integrity of their home. While those capitalizing on the opportunity will be investors, workers in the real estate industry, and construction companies.
d. With stock investments, it will be very easy, because it is guaranteed that climate reform will come. All people need to do is invest in companies that will benefit from climate reform, like Tesla for example. However, it is really difficult to exploit it on the real estate and construction end, because of how much it fluctuates. Natural disasters, climate, and the government all play large factors that can quickly change the playing field.
e. Having lived in Miami for all my life, I know what it is like to be in fear if my home will sink. This fear is a great motivator to not only reform the current climate regulations, but also capitalize off of the lack of reform for my own monetary gain.

3. Economic: After a $47 million makeover, historic hotel wants to offer a ‘curated Miami experience'
a. Article 3
b. With the success of hotels on Miami Beach for several decades, it's no secret that making investments in real estate in the beach areas of Miami is generally a good idea that will make a return in some way or another. But more importantly and safely, one should make investments in the design industry. Many people don't realize how much money goes into home and hotel design until they see articles like this, detailing how business moguls spend millions to get the best designer to purchase the best furniture, no matter how expensive.
c. The primary consumers of this will be those with hotels and other rental real estate in Miami that want to make the most profit.
d. This is an opportunity that will be very difficult to capitalize on, unless you have insider knowledge from an expert in the business or a long-time stock investor.
e. Having connections with some well-known designers from Florida has led me to realize the ludicrous amount of money that goes into this business.

4. Regulatory: DeSantis: 'Floridians have spoken, and - we will listen'
a. Article 4
b. With a new governor entering office in a Florida government, it is clear that many regulatory changes will come of it. However, the amount of change that will come is unclear at this moment. However, one major change that will most likely come about is that or healthcare in Florida, a major promise of DeSantis throughout his campaign. One major component is assisting those who are victims of addiction, which presents the opportunity for anyone able to provide such a service.
c. The major consumer of this will be anyone who is in need of rehabilitation as well as anyone at risk of becoming addicted.
d. This is another opportunity that will be hard to capitalize on if you have no contacts with either the state government or healthcare professionals.
e. This opportunity presented itself to me because of how closely I follow politics, as well as my particular disdain for the current medical systems present in our country.

5A - Identifying Local Opportunities

1. 

Title: Not close: Compare the Dolphins to teams on NFL's Conference Championship Sunday

Link: Article

Description: This story describes how Dolphins fans shouldn't get their hopes up about this coming season, because the team is still in a period of rebuilding. It also describes how the Patriots have been undefeated since their changes in management and coaching. The author makes the comparison between the coaches of both teams and how a change in management for the Patriots led them to be undefeated, whereas it has led the Dolphins to collapse. The problem here is that the Dolphins have gone through several periods of rebuilding with no success, whereas other teams have done it after only a season. The problem the team has is that they are not making any money when playing their games, because their ticket sales have continually gone down with people losing hope in the team. The further down they go, the more likely they are not to come back out again. This also presents a problem for the local fans who want to support their team, because they end up losing faith and not going to the games anymore.
    
2.
Title: Want to see the future of travel? Head to Overtown
Link: Article 2
Description: This article details a summit that will be held in the Overtown area of Miami, Florida. The summit will feature known hotel and travel sites like Expedia and Hotels.com; as well as debuting new start up companies for anyone interested in investing. This could provide new and interesting opportunities for both investors and frequent travelers as both would benefit from hearing what these new start ups have to offer. Investors will be delighted to put money on projects that have a good chance of returning a profit and savvy travelers will get information on new, obscure travel sites that may have cheaper rates.

3.
Title: Is the FDA inspecting food during the shutdown? Here's what the commissioner says
Link: Article 3
Description: This article describes the current state of the FDA with the government being shut down. Because there is no funding going through the government, agencies like the FDA haven't been able to continue paying their employees and thus they cannot fulfill their duties. The FDA has not inspected food since December 22nd and only recently has begun inspecting food again. This has led to many government workers to seek out other opportunities for compensation. While some of these are short term, like public outreaches, some are permanent, like other part-time positions. This has also led many political activists to take the opportunity to ensure more people take part in the political system. Thus ensuring that something like this will not occur again, within the foreseeable future.

4.
Title: Fitbit Miami Marathon & Half Marathon - Yes, you can run a half - marathon. - I did at 59
Link: Article 4
Description: This article explains how a 59 year old man geared up and ran a half marathon. It details his training regimen of one minute running and one minute walking, along with other tips. However, it seems as though this article is more proving the effectiveness of devices and assistance tools like the FitBit, than just a display of this man's achievement. This article primarily targets those looking to purchase a device to help them with their exercise. While it also extends a hand to those companies selling these products, so that they can get their name on an article like this.

5.
Title: You must now be 21 to buy tobacco in this Florida college town, joining a national trend 
Link: Article 5
Description: This article describes how Alachua County has recently raised the legal age of purchasing tobacco to 21. It also describes the reaction of some students and faculty st the University of Florida. Most saying that tobacco is banned in campus anyway, so this law will probably not affect students as much as people say. Granted, I can only imagine that this ban will have an effect on local businesses, like the two smoke shops close to campus; not a large effect because vaping and Juuls exist, but an effect nonetheless. This age restriction will affect those who have pre-existing addictions to tobacco-based products as well as a small effect on the stores that sell tobacco products, as mentioned before.














Friday, January 18, 2019

4A - Forming An Opportunity Belief

All around the world, young adults move out to go to colleges and universities, taking up residence in either student housing or apartments. A common need among these students is furniture. Some people rent or purchase their furniture in their new town, while others move it from home. However, while price may not be an issue as there are many options, one option that is not available is moving said furniture both in and out of their doors, as well as simply it around their new home. Apart from moving the furniture oneself, people have the option of hiring people to move the furniture for them; both come with equally negative consequences. If one were to move ear own furniture, they'd have to either bring it but by bit, or rent a vehicle large enough to furnish their new home. Even then, there is no guarantee that their furniture will fit through each door without having to disassemble some of it. With movers, there is no guarantee that everything will make it in one piece, on top of the fact that movers are somewhat notorious for losing some smaller pieces of furniture.
My idea to remedy this is a line of movable furniture. Similar to how water beds are easy to move, the line of furniture I want to create is foldable and rearrangeable, with a focus on shifting from stylish to compact. This allows for furniture to be moved from place to place much more easily and cuts down on many of the costs. Currently, I think the company that has the tools to meet this need, is also the company doing the most about it, and that company is probably IKEA. The company is known for shipping products for them to be assembled there, with a focus on simplicity. But we haven't reached the stage I want to reach yet, which is have a product be assembled once, to them be shifted without disassembly. Personally, I'm 75% certain that no one has created a line of products like this, at least not to the scale I'm imagining.

Interview 1: Shania Santiago (UF Student) 

Upon asking her about how it is to move from place to place, because she's just moved from Pembroke Pines to Mims, Florida, and then to a UF dorm. She responded with "it's a bitch to be living in and out of boxes while still being in the middle of moving."
After pitching the concept to her, she responded with, "on paper it sounds fantastic, although I'd have to see the style and safety of the product before I'm sold." This is when she began to realize that the need is present in everyday life, just not very often. Only a few times throughout the year. Specifically, it came when her father, who had spinal surgery a few years ago, tried to lift heavy boxes and was in pain the next day.
Currently, they've been just moving themselves from place to place, but upon hearing about the solution, she was ecstatic and wanted to know more about the product and if it is feasible to be produced soon.

Interview 2: Adrian Wright (UF Student)
Adrian is a student who just moved back to Gainesville and is currently renting an apartment. However, his apartment came fully furnished, so I was curious if we was going to react the same way as Shania. Surprisingly, he reacted very similarly. When I asked him how much of a pain to move it is, he was rather mellow saying "I don't mind it to much, I usually don't bring that much." But when I proposed the idea of movable furniture, he was ecstatic, saying "Wow, that'd be really nice, I could bring and move stuff without all the effort." While Adrian has never had to move, he realized how much of a need it was after helping his neighbors move out and had to pack for over two days.

Interview 3: Aaron Bisnauth (UF Student)
Aaron is also a student, like Adrian, who just moved into a fully furnished apartment. However, there is a big difference between him and Adrian and it is how many times they've moved. While Adrian has never moved himself, Aaron has moved over twenty times throughout his life, saying that "every time, it has been the biggest bitch." He's realized that it's a need since he's been young from all the moving he's done. So when I told him about my movable furniture concept, he said "I'd do anything for a product like that." This is the reaction I wanted to hear, because it not only proves that college student moving from place to place could use this product, but that anyone who's moving could use this product. 

Reflection 1
There is a clear need for something to be done about college and apartment furniture, and this might be it. While the idea is very barebones and has probably been talked about in the past, but nothing comes close to the vision I have for this product. With a good amount of money backing this project and a small, yet efficient team of innovators like myself, I'm certain that this project is feasible and could be the next big college innovation.

Reflection 2:
It is clear that this is a somewhat specific need for people, but this does not exclude anyone as everyone will move at least once in their life. On top of that, it is clear that even people who don't move often can appreciate and get excited for this concept.

Reflection 3:
If a person really needs this product because they're constantly moving, they are far more willing to support this project. As a matter of fact, Aaron and I have already worked on a prototype together for catalyst, so he's very excited to work with me again if we choose to pursue this product. At first I didn't think that this project would lead to anything, but I'm actually considering pursuing this idea somewhere in the future.

Summary:
This idea is still feasible, however I'd need to establish my market and ensure that no large company jumps on this idea before mine increases in size and scope. Last thing I need is for some named furnishing company to create a line of their own and knock me off the market.
Also, I believe my opportunity is slightly more fleshed out, but the main idea is still the same: moving furniture as easily as possible, without compromising price and style.
Personally, when it comes to if entrepreneurs should adapt to customers, I believe that customers have a large say in what a product should be. However, an entrepreneur should never lose sight of the product they originally intended on creating, because then they could never have a passion to make the product the best that it could be. 

3A - Your Entrepreneurship Story

Throughout my life, I've been exposed to large corporations, particularly the marketing and advertising side. This is because my father is both an editor and producer for television and has been since before I was born with his self-made company, Rave Productions. He has produced, directed and edited TV spots for channels like Discovery, Disney, Royal Caribbean and many more. This means that even as a toddler, I was introducing myself to top television executives and even sometimes working alongside them. My father taught me everything I know about finance and entrepreneurship because he's always had a passion for it. But this passion for finance stopped at his company and teaching me the ropes. But, moving into my senior year of high school, the two of us began work on a project that would to teach high school teens all they'd need to know about finances before graduating. Currently, our project is working its way up a slow pace due to both of us having our work to do, but we've already given a talk at a local school in Miami, Coral Gables High School.

The reason I enrolled in this class, apart from being a requirement for my minor, is because I wanted to get a better understanding of what entrepreneurship really is and what it means. My father has done well in teaching me, but only has knowledge from what he's read and heard; I wanted to take a proper class and be assigned work that would give me real insight into the world of an entrepreneur. And while I have no plans of starting up my own company or selling my own products, I do have a head full of ideas and designs that can potentially help others and make me a valuable asset to high level individuals and companies that would want to hire me.


2A - Bug List

1. The washer and dryer in Beaty Towers costs over three dollars for a single load of clothing, meaning that only laundry day, I'm spending about seven dollars to wash clothing. Not to mention that soap is not provided.
a. In order to make the money to power and upkeep the appliances, Beaty has the washer and dryer cost this much.

2. The dorms on campus generally have something wrong about them that frustrates everyone. For Beaty Towers, it's not only the small size of the rooms that have to fit two people, but that each room only has one desk, meaning someone is always forced to work in the kitchen.
a. With so many dorms and not a lot of maintenance staff, problem arise and are dealt with when the time is available.

3. Meal plans are extremely expensive and aren't exactly useful. Either you pay for an overpriced meal plan that only fully covers the on campus cafeterias that don't have much variety, or pay extra money to go to a named restaurant on campus.
a. In order to pay for the staff, food, and appliances, the cost for food has to be rather high.

4. Most dorms have a single communal kitchen which can be a pain if there's already a line of people or if someone leaves it extremely messy; often the case during the evenings on the weekends.
a. In order to house so many students on campus, some dorms sacrifice having multiple kitchens for more housing space.

5. Parking is constantly a mess on campus with what seems like very little parking for students (even less for those under 50 credits,) on top of what feels like an over-abundance of parking for faculty. Circling the Norman lot on the weekends for an hour has become normal.
a. In order for professors and other staff to reasonably get around campus, they need ample parking, which in turn takes away from student parking.

6. Transportation and Parking Services is a mess, I'm currently waiting over a month to receive my student decal, and I received a citation despite having just walked out of the transportation office to request a longer temporary decal.
a. The parking services here on campus have to manage so many parking lots that it is unreasonable to expect them to have complete knowledge of all vehicles in those lots at all times.

7. Commuting to and from Miami is a pain: driving drains me of any energy I'd have for weekend trips and taking a bus is a gamble on if the bus even functions properly and won't break down, not to mention the generally high prices.
a. In order to pay for the buses that commute such a long distance, as well as a capable driver, services like the Greyhound bus require a lot of money.

8. Most "recommended" textbooks are rarely used in my classes, and in the end all they end up doing is messing up my back from the ridiculous amount of weight I'm carrying.
a. The recommended text books can provide extra practice if needed; in the end none of them are required and only serve to help a student if they need it.

9. The water heating system in Beaty prioritizes the people on the higher floors, meaning their water is easy to control, but for people like me on the second floor, it's only scalding hot.
a. Because the water heater is probably on the ground floor of the tower, it needs to heat up to extreme temperatures in order to reach the top floor.

10. The door to my dorm constantly jams, meaning that we have to slam the handle, waking anyone inside, if we want to get inside.
a. This is an issue that just arises with the age of the building. While the staff try to maintain the building as well as possible, some small issues like this arise.

11. Trying to find good food on campus during the summer is a hassle because anything good closes around 3PM, meaning we're on our own for food after that.
a. During the summer, the amount of students on campus diminishes. Thus, administration doesn't find the need to hire people to work evening shifts for most restaurants. This cuts down on the costs the campus has to pay in a year.

12. The SNAP system on campus is usually a gamble, with it sometimes coming within seconds of the call, while others can take over twenty minutes, leaving people in the cold.
a. SNAP drivers can be anywhere on campus when they accept a rider, thus it is reasonable to assume that if a driver accepts a rider across campus, it will take them time to get there. On top of dropping off other students.

13. It feels as though every class schedules their exams for the same times. Meaning I have to prioritize which exam I'd like to do better on and which grade can take a hit.
a. Exams usually follow a quarterly schedule, meaning that around a quarter into each semester, an exam is given. This is rather standard for most curriculum.

14. Forgetting to charge my phone and having it die on me is a real pain, I really need it to stay in contact with people all over campus.
a. If it really were an issue, I could either remind myself to charge my phone beforehand, or just buy a portable charger.

15. Having classes both early in the morning and late in the evening really limit my free time, as I have a gap in the middle of the day where I need to stay ready, but also enough time that I can get work done and still have time for myself.
a. This is just a matter of poor scheduling. If I really wanted all my classes to be around a certain time, I'd need to either pick earlier classes, or take other classes entirely.

16. The dorms on campus feel as though they're made for one to two people, yet the housing committee crams more people than there should be, leading to someone in the room constantly feeling like they're not getting enough space.
a. In order to fit as many students on campus as UF does, it is reasonable to assume they would sacrifice a bit of comfort for more people within the dorm.

17. Quizzes for classes range from really easy (generally during the first few weeks,) to extremely difficult and covering obscure material.
a. This could all just be within a student's own mind, sometimes it's just the material, or the professor teaching a certain chapter worse than others.

18. Many classes use ridiculously high grading preference towards short exams, meaning that a student can flunk out by bubbling in a few wrong questions on a few exams taking up two days, when they could be impeccable for the rest of the several weeks of the course.
a. Classes like chemistry and calculus require perfect to be given all the time. While it is a bit unreasonable, calculations like this should never be faulty, lest a bridge fall down due to a miscalculation or a patient be prescribed the wrong drug due to an imbalance of chemicals.

19. There aren't many high profile events, like concerts, that go on in Gainesville, usually once in a blue moon, and it's usually no one particularly famous, or enjoyable to me.
a. For a university, UF has a lot of events for the students, not all are high profile for concerts. But it would be much to expensive to be constantly doing those. Instead, the university opts for cheaper events that happen once a week, mostly for free.

20. Having to wait a week to watch the newest episode of my favorite shows is extremely annoying, but waiting months to watch the season in its entirety is just as bad.
a. This is just a matter of patience and the show being unable to produce episodes so quickly.

Reflection: Personally, I found coming up with the first few bugs easy. I just thought of all the things that annoyed me around campus in the few hours prior to writing them. However, over the next few days, I found it harder and harder to find things that truly bugged me. Most of the time it felt as though I was stretching to come up with something. Over the week I came up with my list of twenty bugs, some more bothersome than others, but all really do bug me.