5A – Identifying Local Opportunities

1. The 5 Best Industries for Starting a Business

The Gainesville Sun recently released an article describing the 5 best opportunities for those seeking to become entrepreneurs. I found this topic incredibly relevant to our course and this assignment in particular. They list opportunities and opportunities are born from unmet needs - both of which happen to be the topics we are assigned to think about today. The 5 opportunities are:

1. Health care:

Problem: we all get sick.

Who has the problem: everyone!

2. Marijuana farming - but only if you live in the 29 states or D.C. where it is legalized. This is a good field for those who enjoy farming; sales are expected to increase over the next few years.

Problem: researchers need more marijuana to learn more about it and health care providers may need it for medicinal use.

Who has the problem: Researchers, health care providers, and those who would like to use marijuana for recreational purposes.

3. E-Commerce - we do live in a digital age where more and more of us prefer to shop from the comfort of our homes. The presence of online shops increases competition which leads to better products at lower prices. Everyone wins! Producers enjoy more sales and consumers enjoy the products at lower prices!

Problem: We all like convenience and speedy services.

Who has the problem: Introverts, those with busy lives, and the lazy.

4. Information technology - again, we live in a digital age and many of us have concerns about hacking. Those who can increase cyber security will do well because it is an increasing need in our world.

Problem: cyber security is a concern for everyone in today's day and age. With the threat of hacking ever-present, we are in need of those who can increase our online security.

Who has the problem: virtually everyone with a computer, phone, tablet, etc. (pun intended)!

5. Other personal care services - from wedding planning to personal accounting to house cleaning, services like these ought to do well because many of us are too busy to plan an entire wedding by ourselves and services like accounting will always be a necessity for businesses and even individuals.

Problem: Many of us are very busy and find it more efficient to hire someone to plan an event in our stead and/or do not understand the world of accounting and therefore need someone to help us out. 

Who has the problem: people with busy lives and those in need of specific services.

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2. Headlight on Traffic Safety

This short article directs students who live in Gainesville to a brochure on how to drive safely around the city. The brochure lists tips on how to stay safe while out and about. This is important in our city because there are so many pedestrians, bicyclists, and and drivers.

Problem: Safety is a priority for the police department and they work very hard on and off-campus to keep civilians safe. Education is the best prevention for many disasters.
Who has the problem: everyone. Whether it's civilians who can become endangered due to risky behavior or the UFPD who has to take care of these problems.

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3. Hiring: Lake Wauburg Lifeguard

This is an advertisement put in the paper for the RecSports Center on campus. They are seeking someone with the proper qualifications to fill the position of lifeguard at Lake Wauburg.

Problem: The RecSports Center is in need of a lifeguard in order to ensure the safety of all who go to Lake Wauburg for a good time.
Who has the problem: The RecSports Center because they have an empty lifeguard position and all who go to Lake Wauburg because, should any misfortune befall them, they would be in more danger without an extra set of eyes watching.

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4. Why Smarter Cars Aren't Saving Us Money on Car Insurance

This article takes a look at why newer, safer technology is not reducing our insurance costs. With safer cars comes fewer accidents, right? Perhaps if every single driver traded in their old cars for these newer, more technologically advanced cars, we would see a decrease in insurance costs. But this is not the case. What's happening is this: the economy is doing well and cars as well as gasoline are both normal goods (normal good: when income increases, these goods are used more), so more cars are on the road and when more cars are on the road, there will be more accidents. In addition to this, health care costs and car repair costs are increasing which increases insurance costs. The article states that the average age of a car on the road is 11+ which means more people have older cars than newer cars so the driving hazards still exist and have not gone down.

Problem: Insurance costs are increasing due to more accidents.
Who has the problem: all drivers.

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5. Alachua County officials worried about virus' season

Alachua County School District Supervisor of Health Services Patricia Hughes relays her fears about how the flu virus could negatively affect students as FCAT season rolls around. She tells the Gainesville Sun how Alachua County students did so poorly a few years back because of the virus that the scores were pardoned. She hopes to not relive that this year but worries because of how many students already tested positive for the flu just this month.

Problem: Students are getting sick with the flu and, if it becomes bad enough, they will test poorly on the FCAT which may force the county to pardon the scores as they did almost 10 years ago. This messes up data for the county and for schools.
Who has the problem: All who are affected by the flu - especially students who take the FCAT, and county schools.

4A – Forming An Opportunity Belief

Beginning Point and Description of My Belief

This semester, I have classes from 9:35 a.m. until 3:50 p.m. with an hour break from 12:55-1:55. Being human, I often get hungry during this time. Now, I like to save as much money as possible, so I bring snacks to tide me over until I get home; but sometimes, I just really want a hot meal. Just today, I met a friend at the Starbucks in Library West and it took all the discipline and strength in me to not purchase one of those pesto and mozzarella ciabatta sandwiches. I settled for the Chex Mix snack bag that I had packed before class instead.

I know that I am not the only student who craves a hot meal between classes but is too poor to buy one every day. This got me thinking: there ought to be a self-serve station in many buildings throughout campus where students who packed a lunch are able to heat it up and enjoy a nutritious, filling meal conveniently and for free. This station should consist of a microwave, toaster oven, and access to boiling water (for ramen, obviously). This need is prevalent on pretty much all campuses and even in some work places. I believe that it is a need that exists all the time because, on a campus of 50,000 students, there is bound to be at least 1 who wishes they were eating the macaroni and cheese they made the night before instead of the less-than-satisfying granola bar they munch on now. I am 100% certain that many students have this need and would be grateful to see that need met. As of now, I see nothing being done to satiate this need unless there is a monetary gain for the school (cafeterias and coffee shops exist, but only for those willing to pay extra).

Prototypical Customer

I interviewed three students who attend classes on the UF campus. Here's what they had to say:

1. Shannon C. said that, while she plans meals around her class schedule, she still does get hungry and often sticks it out until she is able to go home to eat. She said that having a self-serve station would be very helpful and convenient for long study hours at the library. While she wasn't aware of a problem because she plans her meals in advance, Shannon would like to see something like heating stations on campus.

2. Hannah F. says that she ate cold spaghetti from home just this afternoon due to the lack of heating stations on campus. She said she has recently become more aware of this problem because she began to realize just how much she was spending on eating out - thus, the lunch of cold spaghetti, a solution she is not entirely happy with. She believes that the University of Florida should provide a heating station in every library. To cover the cost, perhaps it would be a good idea to also have a frozen-foods vending machine right next to the microwaves so that students who long for a hot meal but didn't bring a lunch with them can enjoy their meals too.

3. Marianne H. says that she does not usually need or want a hot meal during the day while she's on campus. She prefers hot meals in the morning and night, so she eats those at her apartment before and after classes of the day, so this is not an important need for her.

Reflection

All three of my prototypical customers agreed that they do not experience this need all the time - if they experience it at all - but that it would be a very convenient to have on campus. Hannah even took this opportunity a step further and proposed an additional idea: a frozen foods vending machine. I was surprised that not all students like hot meals, but that is to be expected since there are 50,000 students on-campus and not all of them will have the same preferences as I do.

My original opportunity still stands in full and I believe that it is more accurate now than when I started. I believe that entrepreneurs ought to take customer surveys into account, but only to a certain extent. Entrepreneurs should be flexible enough to adapt, but firm enough to stick to their beliefs.

2A – Bug List

My Bugs

1. Bus arrival inaccuracy forces me to stand in the sun  and suffer (as a natural redhead, I cannot tolerate that abuse) as well as panic about being on time to class (early is on time and on time is late, folks!).

2. Price comparisons or the lack thereof. I really wish menus would come with the option to be viewed from low cost to high cost; if that were an option, I would be able to make more frugal decisions without wasting much time and thus save more money which is important to me as someone who has always worked very hard for their money.

3. Rush hour down N. Main St causes me to become anxious about being on time to work and the traffic becomes backed up for several blocks with some cars getting stuck in the middle of the intersection and thus blocking more traffic.

4. Patients who don't pick up their prescriptions (I work at a pharmacy). We fill them, bag them, print out their instructional papers, etc. and file them in the bins only to pull them back two weeks later and have to return them to the stock. Only then does the patient come and yell at us, asking why their medicine isn't ready when they've been out for two days already. This wastes our time and resources and leads to much frustration because we are incredibly busy and short-staffed already.

5. Regulations when operating a business make it nearly impossible to do anything efficiently. Licenses are required for seafood, alcohol, etc. and ridiculous procedures in the name of safety require workers to waste time and resources to "stay up to code". For example, needing to report a stubbed toe in the event your foot falls off, your boss needs to know when the stubbing of the toe happened so that you may qualify for worker's comp. Why can't we use common sense? If you fall off a ladder, that's grounds for reporting but to stub your toe? Come on.

6. Coffee/tea gets too cold too fast because I don't drink it quickly enough so that I may savor the flavors. Perhaps those paper cups ought to come with some built in insulation for customers to properly enjoy their beverage for a long time.

7. Coffee is overpriced on campus and there are limited coffee shops. I would gladly give up the idea of insulated, disposable cups mentioned above for a good cup of coffee at $0.75. Coffee shops may make more money that way because poor kids like me would then actually reach for our wallets more often.

8. Slow internet connections. Need I say more? It's inconvenient and reduces a person's ability to get more work done in the same amount of time if we can cut the time lost waiting for Google to load. Or Netflix. Maximize the amount of relaxing you get done.

9. Limited service providers in many areas. I would like the option of contracting with another internet company because it's better for me and the economy as a whole. More options --> more competition --> lower prices for better quality.

10. Not knowing how the weather will feel throughout the day and thus freezing or suffocating. I think there ought to be a capsule you can enter that will take the weather forecast of the day and simulate the same conditions so that one can properly dress for optimal comfort throughout the day.

11. People who drive slow in the passing lanes. It frustrates everyone, causes more accidents, and backs up traffic.

12. Receiving mail meant for the previous tenant or owner. I don't want it, they may need it but it's just going to the garbage and it's inconvenient for me to go through all that trouble.

13. People who walk slowly and in the middle of the sidewalk. Just like the streets, stay to the right so I may pass on the left. It's frustrating and uncomfortable,

14. Groups of people who take up the whole sidewalk and giggle obnoxiously because, again, it's frustrating and uncomfortable. I have places to be and people to see and the three girls in front of me could use a third wheeler so will someone please volunteer for that position and let me pass?

15. People who keep sniffling but don't excuse themselves to use a tissue. The sounds are distracting and disgusting and I'm sure it's inconvenient for the sniffler as well.

16. People who park outside the lines. If I need to park, and another car is on the white line, I will park in my space properly making it difficult for them to get back in and risking a dent in my car's door. It's inconvenient for everybody.

17. Emojiless texts or emails. As humans, we need to see people face-to-face, but written words cannot convey the inflection of tones in the voice; therefore, I feel that it is necessary to supplement with emojis.

18. Slow traffic lights. It's inconvenient, makes people late, and no one should wait at a red light for three minutes.

19. Uninformed, ignorant opinions. My favorite bumper sticker is the one that says, "if you think education is expensive, try ignorance". Listen to the news from both angles, try and look at events from an objective perspective and understand the reasoning of the opposing side. Failing to do that brings us to where we are right now. We live in a society that swallows information without looking at the facts. We just accept what we hear and that's dangerous.

20. People who don't realize that facts don't care about their feelings. They don't and nothing is going to change that. Not your favorite celebrity, not your mom, and not Oprah who thinks you should share "your truth". There's the truth and your opinion. The sooner we learn that, the better because then we can start to have conversations with people who disagree without becoming offended.

Reflection

I did not find this list difficult to come up with because practically everything annoys me which has not proven helpful until now!

What bugs you? What would you change?

Have a great week!
Rana

3A – Your Entrepreneurship Story

Hello, all!

I think it appropriate to begin with a quick introduction, so let's start with that!

Personal

My name is Rana (pronounced 'Reh-nah') and I am a newly transferred student at the University of Florida. I previously attended Florida Southwestern State College where I achieved my associates degree at 18 years old upon graduating high school. I have one 6-month-old kitten, Jin Jin, who is under the delusion that I exist for the sole purpose of acting as his claw-sharpener and food-bowl-filler. I am an economics major with zero passion for essentially anything outside sleep or the realm of the kitchen which is unfortunate since I spend next to no time sleeping or cooking.

Professional

I have always been a worker. Since I was young, my father would pay me $0.10 for every nail I picked up off the ground in his makeshift workshop behind the house; then, I got a raise for working in his grocery store ($1.25 an hour!). Today, I work as a pharmacy technician at Publix, a babysitter, and phone campaigner.

Exposure to Entrepreneurship

Now, we can finally get to the actual assignment! My father, as mentioned previously, owns a local grocery store in Lehigh Acres, Florida (read about how my family and our community endured the hardships Irma left in her wake here - I strongly encourage everyone to read it and not just because my father wrote it and I am proud of him, but also because it will restore your faith in humanity and improve your quality of life by 300% guaranteed); in addition, he also founded his own engineering firm after working for the county for many years.

Growing up in a household where I was able to witness what it takes to become your own boss and the fruits of that immense labor, I have a profound respect for those who do have the stamina to operate their own businesses. It requires an incredible amount of sacrifice: sleep, unnecessary spending, a life... And it also requires self-motivation and discipline. Being your own boss is not easy but then nothing good comes easy.

Why I Enrolled in ENT 3003

I enrolled in this class because I felt that there were no other 3000+ level electives that would be interesting or beneficial to my growth as an individual and someone considering becoming an entrepreneur in the future. I wish I had a better story to tell, but alas the facts remain indifferent to my wishes.

Have a great rest of the week, folks!
Rana A.

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