Identifying Opportunities in Economic and Regulatory Trends

Assignment 6A

Hipster Culture and Instagram Are Responsible for a Good Thing

Source: https://www.nytimes.com/2018/01/29/style/paint-the-walls.html?rref=collection%2Fsectioncollection%2Fbusiness

Opportunity:  I’m pretty sure there is an opportunity here for a number of reasons.  One, using art, murals and paintings as a form of advertising instead of traditional advertising is something that will actually be noticed.  Hipsters seem to be interested in art and murals and this would be a good way to advertise to them.

The prototypical customer: Hipsters in large cities such as Portland or Seattle.

Exploitation: This opportunity is relatively easy to exploit because it not only creates a beautiful scenery inside otherwise bland city building walls, but also helps advertisers get to their desired market.

Why I saw opportunity:  I think for me, it has a lot to do with me being an advertising major and someone who *appreciates* art. 

Trends to watch with Programmatic Advertising

Source: https://www.forbes.com/sites/forbesagencycouncil/2017/05/16/trends-in-programmatic-advertising-to-watch-this-year/#703100157f11

Opportunity: There is an opportunity here for advertisers like myself to become more efficient.  Computers can compute and make transactions so much faster than humans, so it makes sense.  There is an opportunity to create apps and other forms of platforms to help get programmatic advertising even more ahead of the curve.

The prototypical customer: advertisers and advertising buyers are the prototypical customers.

Why I saw opportunity: Apps are created for everything nowadays, such as sending money on Venmo or ride-sharing on Uber.  It makes sense to use it in an industry to buy and sell advertising.

Open Banking

Source: https://thefinancialbrand.com/68630/2018-banking-financial-institution-predictions-forrester/

Opportunity: With the start of open banking, there is potential to create a relationship with Facebook or Amazon where your banking will help you make purchases easier. The opportunity is to team up with Amazon so that you don’t even have to put in a credit card information, but take the money directly from your bank instead.

The prototypical customer: Anyone who banks or uses Amazon.

Why I saw opportunity: Amazon does something similar with Whole Foods where you just scan your groceries and walk out.  I had to talk about this impact in one of my classes so that’s how I saw the opportunity.

Repealing of Obamacare

Source: https://www.govtrack.us/congress/bills/115/hr175/summary

Opportunity: If Obamacare is repealed, a lot of people might be out of healthcare.  The opportunity is to become a provider of cheap healthcare for those in need.

The prototypical customer: Those who cannot afford a ridiculous plan for healthcare and want to still be covered by insurance for not a huge fee.

Why I saw opportunity: When there is deregulation, markets start flocking to help meet unmet needs of a vast majority of people.  This is why I think this could be a successful business.

Identifying Local Opportunities

Assignment 5a

Title: Steps to Living Your Best Life at 50+

Link: http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/169A8628EBB27278?p=WORLDNEWS

Description of Story: The article asks questions that make you think about whether or not you are in control of your life essentially.   “Are you having fun?” is the personal favorite of mine, but that is the basic kind of question that this article is asking.  After the questions, there is a list of how to live your best life in 10 “easy” ways.

Description of Problem: The problem is that after the age of 50, people start to feel down on themselves and sometimes (not all) people start letting go of their bodies and minds.

Who has the Problem: I would say most people have this problem, but it was geared towards people that are 50 years or older.

Title: Thousands Again Fill Philly Streets for Women’s March

Link: http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699833944319BC0?p=WORLDNEWS

Description of Story: Maya Denise Lewis made a vow to march in another Women’s March in Philadelphia, and fulfilled that vow.  The event came one year after the historic march in Washington D.C. after President Trump’s inauguration.

Description of Problem: There is a lot of political divide in America with women feeling the brunt of it, especially as of late due to some of President Trump’s comments last year that sparked the first Women’s March.

Who has the Problem: Women most broadly, but the article also mentions African-American women more specifically.

Title: How Can a Parent Advocate for Children at School?

Link: http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699D7A2B700F690?p=WORLDNEWS

Description of Story: The headline is being answered in the content of this article.  Donna Fletcher recognizes the importance of her influence on her child, and lays out some ways that she can advocate her child’s success in life through school.

Description of Problem: Not enough schools in Florida with rigorous enough academic program.

Who has the Problem: Anyone who lives in Florida who wishes to hold their children to the highest standards.

Title: Tips to Be Fit: Answers to Health Questions

Link: http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699D7A367017170?p=WORLDNEWS

Description of Story: This article has a lot of questions that are concerned with health and fitness.  There are different people that ask one sentence questions about things ranging from if corn is okay to eat when trying to lose weight to what can I do instead of jogging or dancing for aerobic workouts. 

Description of Problem: Questions involving fitness and health are always going to plague the human race.  How can answering these questions help find new ways to improve our well-being?

Who has the Problem:  From the looks of it, everyone, but in this article it includes those just getting back into exercising and those that want to know basic questions about the foods and drinks that they consume.

Title: Crown Maker: Entrepreneur Aims to Preserve Art of Hat Making

Link: http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699D7A36CB914D8?p=WORLDNEWS

Description of Story: Rev. Georgiette Morgan-Thomas wants to continue the art of hat making, even though the industry faces many challenges in today’s market.

Description of Problem: Hat making is becoming a lost art, factories would rather mass produce hats than each one be unique.

Who has the Problem:  Not only hat makers, but anyone who produces anything unique going up against huge factories and companies.

Opportunity Belief

Assignment 4A

Beginning point: One time, I got into an argument with another student about the idea of originality; he argued that no one has EVER had an original thought, and I argued that there is such thing as an original thought.  We both were really interested in screenwriting and movies, so we talked a lot about movies and what we liked and didn’t like, and so on.  Though according to him someone might have thought this before, my original idea is an app or website to connect young screenwriters with those who are in the industry, much like LinkedIn does for the professional world, as well as share spec scripts and anything else they are working on.

Describe belief: It is way too hard to connect, network, and work with other liked minded individuals in the screenwriting industry.  Like many others and myself, we don’t know how to get our foot in the door for something we are super passionate about.  If I were super passionate about being a CEO of some company, it is easier to connect with them because of LinkedIn.  This problem has existed since the industries Golden Age in the 1920s, and maybe even earlier.  Right now, you kind of have to just get lucky and hope that someone important isn’t too busy to read your script and help you meet other people.  There are places on different social medias for writers to “meet,” but this is also more or less for all kinds of writers, not just screenwriters.  There is about a 90% that this opportunity exists, even if screenwriters aren’t entirely sure if they need it.

Prototypical customer: Whether you are new to screenwriter and doing it for a hobby, want to get a job in the screenwriting world, or an established screenwriter, this social network is for you.

Iteration No. 1: I talked to my twin brother Jacob, who wants to become a screenwriter and has written several scripts (including a feature film), about the need for this kind of networking and social media tool for screenwriters.  At first, Jacob didn’t really know that this was a need because he just wrote for fun and didn’t really think that there was any opportunities for him in this career, but when he took a screen writing class at Boston College last semester, that all changed. Jacob went to a networking event in Vermont, almost 3 hours away from his dorm at BC.  He said, “the only real way to network is by going to these events, but it would have been so much easier to have something like Facebook or LinkedIn to connect with them instead.”

Iteration No. 2: Speaking with my close friend Joshua, he writes scripts more for a hobby, but would “like to be famous [through writing scripts].”  Josh just doesn’t have a place where he can get good notes, and didn’t have the luxury of meeting any screenwriters like Jacob, so a place on the Internet for people with the same interests to meet would be amazing.  Josh said that this kind of app would be really cool and he even had some ideas about the look and flow for the idea, which was fun to even dream up.

Iteration No. 3: My friend Zane’s uncle David works as a screenwriter, and he worked on The Big Bang Theory and King of Queens and I got to talk to him a while back.  Although I was asking him questions on how he got started and what I could do to get my foot in the door, he said that that was the biggest hurdle.  It’s hard to connect with other screenwriters and get a job on a writers table, and that you have to work your way up.  Something like this would definitely be interesting to make to help screenwriters meet.

Reflection: Just by talking to some screenwriters I do know, my opportunity is definitely an opportunity.  The need for a social media where it’s easier for screenwriters to meet is something that all screenwriters actually yearn for.  The most surprising thing to me is that there are so many people with this problem yet no one has jumped on this opportunity yet. Jacob (wants to get into screenwriting jobs), Josh (does it more for a hobby, but wants notes), and David (does it for a job) all agree that there isn’t an easier way to connect and get notes on their scripts. 

Summarize: My original opportunity (in my eyes) is 99% still there.  The only thing is that some push back can be said about the use of Facebook as a place to meet other screenwriters, but it’s still hard finding them and it not being weird.  The opportunity is more accurate than I started, for fear of other social medias like Facebook and LinkedIn. Lastly, I didn’t have to experience having to adapt too much with customer feedback, but entrepreneurs should adapt to what customers want or they won’t be able to sell as much as they’d like if they didn’t.

My Entrepreneurship Story

Assignment 3A: My Entrepreneurship Story

The entrepreneurial spirit kind of runs in my family.  My grandfather hustled to become the treasurer of a multi-million dollar enterprise, my father put in a lot of work to open multiple businesses of his own in construction, food service, and other focuses as well, and my brothers are all on their way to becoming successful themselves.  Even just recently my whole family has started investing in stocks for as little money as possible to receive a big return on investment.

But, if there is one story that I can remember and laugh about all the time, it’s when my brothers and I were all younger, around the ages of 5-9 (me and my three brothers are all about 2 years apart in age, but my twin is actually the same age as me believe it or not). When we were little, there was a camp that would use our street as a path to get to where the kids had to go.  My brothers and I have always been hustlers, so much like every kid in America, we opened a lemonade stand.   For about 3 weeks each summer, we would sit out in the burning hot sun and try to get people to buy our lemonade, which we did with much success.

Additionally, I took this class (if I’m being 100% honest) because I heard from a lot of past students that it was easier to take than other business classes.  As an advertising student, I needed to have a concentration in another subject, and as a past finance major, business concentration was the fastest choice.  Even though those are my motivations for taking the class, I still hope to gain insight in what it takes to be a great entrepreneur in today’s world.

Bug List

Assignment 2A: Bug List

1.     When my BeatsStudio headphones die and I have to walk to class or sit in the library working on projects without music playing

WHY it exists: The way batteries work, using so much power without recharging the headphones is the reason that they die.

2.     Bikes streaking through the crosswalk by Broward Dining hall without looking both ways for cars coming while I’m driving

WHY it exists: Bikers want to be treated as a pedestrian and as a car whenever they want to be; in this case they think they deserve the right away when they really don’t.

3.     Not being able to get things like my phone or car keys out of my pocket AFTER getting into the car

WHY it exists: My pockets are crinkled up when I sit down, making it harder to pull things like keys and phone out of my pocket.

4.     Having to drive 2 hours to Jacksonville for ice hockey practice every Wednesday night

WHY it exists: There isn’t any ice closer to Gainesville, forcing me to have to drive further to continue to play a game I enjoy playing.

5.     The line at Fats on Tuesday nights being long an hour before they even open

WHY it exists: Fats on Tuesday has become something every UF student wants to take part in, making the lines longer due to popularity and drink specials.

6.     When people are on the phone in Marston Library and don’t leave to have their conversation especially during the busier times of the day

WHY it exists: People are too lazy or don’t trust leaving some of their belongings behind to get up and have their conversations elsewhere.

7.     Airplane boarding groups

WHY it exists: Boarding groups are supposed to help make the boarding of airplanes faster to get people in the air.

8.     The lack of creative opportunities in advertising classes in the CJC

WHY it exists: Advertising classes in the CJC are more focused on getting students Account jobs, whereas a lot of the students want to get into more creative positions more now than ever.

9.     Ads on music streaming services

WHY it exists: Ads are for people who don’t pay for their music, so they’re used to gain more revenue for the streaming service.

10. Having to order a textbook for a class worth $100+ and then never having to use it

WHY it exists: Sometimes it’s the professor pushing their textbooks on students so that they receive even more money.

11. Debit card expiration dates

WHY it exists: Often times, replacement cards are needed so the expiration date is a guideline on when the card’s magnetic strip will be worn out and a new one should be issued.

12. Deadlines

WHY it exists: Things need to get done, if there wasn’t some structure this world would be in chaos.

13. Always Sunny in Philadelphia not being on Netflix

WHY it exists: Fox’s contract with Netflix expired and wasn’t renewed, forcing Always Sunny to relocate to Hulu instead.

14. When my Amazon order doesn’t come in 2 days even though I have Amazon Prime

WHY it exists: My apartment takes a day to process mail and then send it instead of my order coming right to my door.

15. Getting accused of not being 21 at bars and they try to kick me out even though I’m 22

WHY it exists: During busy times at bars it’s really easy for underage kids to get in, and my id is a Pennsylvania id, which bouncers often times think is fake even though it is not.

16. Mixtapes like Dedication 6 by Lil Wayne not being on Spotify

WHY it exists: Labels own the licensing of the mixtapes, so even though the mixtape is free without the label or artist’s consent Spotify cannot put them on their service.

17. When people think the Last Jedi was actually a good movie

WHY it exists: the Last Jedi had incredible visuals, a great cast, and was a Star Wars film, which has a lot of weight on being considered a good film or not based on reputation.

18. When people say that Jack Dawson could have fit on the door at the end of Titanic

WHY it exists: Yes, the door could have fit two people on it, but it’s more of a science question than just if they both could have “fit” together on the door.

19. How buses smell terrible

WHY it exists: People don’t shower/use deodorant and windows on the buses are nonexistent.

20. When people don’t take me seriously

WHY it exists: I joke around a lot and am very sarcastic so my seriousness and joking are often times blurred together.

Reflection:

For the exercise, I didn’t experience any problems until I got to about the 15^th or 16^th “bug” I had.  I just sat and thought, “what are the things that really bother me when I do (blank).”  And from there the bugs just kind of came naturally. 

It started getting tricky at about 15 because I hadn’t thought about my interests and things about my interests that aggravated me.  I’m really passionate about film and music, so using those as inspiration sparked the ideas for what bugged me about them.  Also, I think putting “why” in all caps helped me keep in that mind set of asking why for each “bug.”