Identifying Opportunities in Economic & Regulatory Trends

Economic Trends:

1. Diverse Payment Options

a) https://www.entrepreneur.com/article/325070
b) An opportunity may exist here for consumers and businesses. The alternate currency may be an accepted form of payment to pay for goods or services, which could attract more consumers.
c) The customer who may take advantage of this opportunity is someone who understands alternate currency and prefers to use it. Another customer that could take advantage of this is someone who is intrigued by it and wants to test it out.
d) The opportunity may be difficult to put into action. People are so used to traditional currency that they may be hesitant to try something new.

2. The ending of Ownerships

a) https://www.forbes.com/sites/stephaniedenning/2018/12/27/2019-business-trends-executives-need-to-consider/#52d6b951229e
b)An opportunity may exist here for people who will rent out their homes. This is already gaining popularity in companies like Airbnb. People can make a profit from renting out the spaces they own.
c) The customer who may take advantage of this is the young customer who is still getting their feet on the ground. These people may not want to be buying property right away. Older consumers will benefit from this as well because they will be making a profit of the land they own.
d) This opportunity is not very hard to put into action because many people know already rent out their spaces. What may become an obstacle is when fewer people own properties.

Regulatory Trends:

1.  Artificial Intelligence

a) https://www.entrepreneur.com/article/325070
b) An opportunity may exist here for large companies who are trying to expand their customer service experience. With artificial intelligence, chatbots answer questions of consumers, getting back to customers much quicker than normal.
c) Any customer may take advantage of this opportunity. If this is the option for customer service from companies, then customers will have no choice but to use this feature.
d) Obstacles with this opportunity include taking the time to code the artificial intelligence to know the answers to all the questions and know at which point the customer may need real life help.

2. I want it now mentality

a) https://www.forbes.com/sites/stephaniedenning/2018/12/27/2019-business-trends-executives-need-to-consider/#52d6b951229e 

b) An opportunity exists here for smaller businesses to join the bandwagon of instant delivery of goods and services. This opportunity for small businesses could be in a certain region or area to make it more attainable for the service. 

c) Customers will take advantage of this type of service because it is the shifting way of mind of society. No longer do customers want to wait for things they order, they want them instantly. 

d) Obstacles for this opportunity is competing with large companies like Amazon. But, many customers like to shop local so if smaller businesses provide the same convenience, then they would be likely to purchase from them.

I saw the opportunity in all of these things because of the attraction to the ever-changing consumer. All of these things are new ways that companies are becoming successful, with the consumer in mind. If the consumer is happy, they will continue to take advantage of the opportunity and more profit will be made. For new currency, I think it is a unique and new innovative way people will be able to pay or exchange something for goods. For the ending of ownership, I think that the future of our society is moving towards a more renting society. If we can recognize that, we can take advantage of the business opportunity. For artificial intelligence, if companies can adopt this technology, they can cut costs in one area of their business and put it towards something more useful for the consumer. This will also help the consistency of their business. For the "I want it now" mentality, if we give the customer what they want and keep them happy, this is an opportunity for business to have repeat customers who share their great experiences with others.

Identifying Local Opportunities

Here are 5 Tampa local news problems:

1.  Al's Finger Looking Good Soul Food Opens in Ybor
https://www.tampabay.com/hillsborough/als-finger-licking-good-soul-food-opens-in-ybor-20190117/
The story is about the popular Tampa restaurant opening its second location in the Tampa area, but with a new concept. The new restaurant will be in the same area as the old one but in a more popular location. The food will be items such as fried pork chops, baked chicken, pot roast and more. The problem presented is as hopeful as the owners are, will it be successful? Was it worth opening a second restaurant so close to their first? This problem is for the store owners. 

2. Is St. Pete ready for a 50-story skyscraper on Central Avenue?
https://www.tampabay.com/business/is-st-pete-ready-for-a-50-story-skyscraper-on-central-avenue-20190122/
The story is about a potential skyscraper being built in the heart of downtown St. Pete. Many people do not want this large od a building to be built. They want to keep the downtown small, and not like a large city. Obstacles that are still in place for the developer include having to get it approved by the Federal Aviation Administration and a public hearing. The problem is skyscrapers ruining the beauty of downtown St. Pete. There also is a potential problem of backlash to the developer from the citizens if it does get approved. This problem is for the developer and the citizens.

3. Grocer games: Will it be Sprouts of Lucky's that comes out on top in Florida?
https://www.tampabay.com/business/grocer-games-will-it-be-sprouts-or-luckys-that-comes-out-on-top-in-florida-20190122/
The story is about the development of Spouts and Lucky's stores across Florida. The problem in this article is for the chain grocery stores. They are both opening stores in close proximity to each other, so the question is who will be most successful? The problem is for the store chains and their owners. Is it worth for them both trying to expand into the same area?

4. Holland America drops Tampa as cruise ship port, but maybe not forever
https://www.tampabay.com/business/holland-america-drops-tampa-as-cruise-ship-port-but-maybe-not-forever-20190122/
The story is about the cruises ship line Holland America who is no longer leaving out of the Tampa port. The destinations from Tampa went to the Caribbean and to Europe but will stop in April.  The Tampa port can only accommodate ships that can fit under the sunshine skyway bridge, so smaller ships with more charm are the market for cruise-goers. The port is still in communication with Holland America to eventually come back to the port in the future. The problem in this article is the port of Tampa losing business. Holland America was one of 4 cruise lines that sailed out of the port. Now the number of cruise lines shrinks to 3. The problem is for the port to gain more business or get more out of the cruise lines it already has.

5. Never mind: 'Big mistake' cited as USF St. Pete takes back 430 admission letters.
https://www.tampabay.com/education/never-mind-big-mistake-cited-as-usf-st-pete-takes-back-430-admission-letters-20190122/
The story is about the error USF St. Pete made when accidentally sending admission acceptances out to over 400 people who were not actually accepted into the college. Hundreds of excited and hopeful students thought they had their future school in their hands but then got an email hours later saying it was an error. Chancellor Martin Tadlock said they regret that this mixup happened and that it was a mistake. He hopes it never happens again. The problem in this story is the clear error that happened from the admissions office. The admissions office and the university have the problem. They need to work on their relations with these students and the community.

Forming an Opportunity Belief

Forming an Opportunity Belief:

1. One problem on our college campus is parking. Students and faculty are constantly looking for parking spaces. The university sells so many parking decals, but there seem to be not as many spots.

2. The unmet need in this situation is spaces for all students and faculty who bought a parking pass to park their cars. This need involves all those on UF's campus. This may not have been a problem in the past, but with the continual growth of the people on this campus, the parking needs to continue to grow as well. People now are parking in places where they can get tickets, or even towed because they have nowhere else to go if they can't find a spot.

3,4,6. I interviewed 3 students from different areas of campus on this issue. The first one is a friend, UF Junior, Amy Cook. She currently lives in her sorority house and, last semester, she constantly struggled to find parking. She now is the president of her sorority and gets her own designated spot, but said last semester was frustrating for her. She said she would spend some time close to 45 minutes circling sorority row and norman garage for a parking space. She said it was the most inconvenient when she had somewhere to be, so because of the parking issue she was clate to class or other meetings. This was her first time ever experiencing the need for more campus parking as a student here. Before, she parked at her apartment complex. She believes that more spots should be added in areas all around campus, especially at sorority row. She suggested adding another parking garage next to norman garage.

The second person I interviewed is UF junior Jack Tamashiro. Jack said the parking issue at UF prompted him to purchase a scooter. Because he lives far off campus and there is no central place for him to drive his car to class, he decided to get the scooter. Jack said he wishes he did not have to purchase another mode of transportation just to get to and from class. He wishes there were more parking spots available for students in a centralized area of campus. The commuter lot is not realistic for him because his classes are in the business school. Jack thinks that UF should build another garage, or add on to others creating more red on spots closer to centralized locations.

The third person I interviewed was UF senior DJ Kerwin. DJ lives on fraternity row and says he rarely has trouble finding parking when coming home to his house. But when it comes to going to class, he takes the bus because of the lack of parking on campus. He, like Jack, resorted to buying a scooter to get around places on campus. But, DJ said there is also a lack of scooter parking on campus. DJ said that he believes the best solution for the university is to add onto existing parking garages, making them more accessible to students. DJ also pointed out that while adding more parking make be costly, they would be able to sell even more parking spaces, making them more money in the long run. This also will make students much happier, he said.

5. I have learned through these interviews that not everyone may struggle with this issue in the same way. Amy struggled with parking where she actually lives, whereas Jack and DJ only had an issue when they were trying to go to class. Collectively, the consensus from all of them is that more parking is needed, regardless of your circumstance. I was surprised that there also is issues and debates about scooter parking when it is a substitute for cars which are hard to bring on campus.

7. My original opportunity is still here. I still believe that parking is a major issue on UF's campus, whether you live on or off campus. By providing more parking, it will save students money by not having the need for them to purchase scooters, another means of transportation. The opportunity for parking is validated by these experiences from students. With more research and interviews, I am confident that 9 times out of 10, a person will agree that parking is a major issue. I think it is important for entrepreneurs to listen to customer feedback. I do not see the point in doing something is customers don't see the need for it. To be successful, it is important to meet customer needs.

My Entrepreneurship Story

Hi Everyone!

Here is my Entrepreneurship Story:

In my life, I have had numerous entrepreneurship inspirations in my life, one, being my dad. My dad has always been an inspiration for me. He has dreams and he keeps going until he reaches them. And when he gets there? He makes new dreams and goals to meet. Growing up, he was always successful in the mortgage business, but in recent years he has gone above and beyond - exceeding every expectation or dream he could have had for himself. He has expanded his branch and manages numerous different offices in the area where I am from. He also has worked hard to make meaningful relationships with those he works with. This, making his business filled with family and friends. Not only is he a successful businessman, but an inspiring leader as well. He now coaches other aspiring mortgage professionals on leadership, business and generosity. I aspire to be as motivated and driven as my dad in my professional and personal life. He truly is an inspiration to so many people!

I am taking this class to learn more about the many possibilities of entrepreneurship. I love hearing peoples stories and learning from them. I am hoping to not only meet new people in this course but learn valuable lessons that I can use in my personal and professional life.

Bug List

Hi Everyone!

Here is my bug list:

1. when people chew loud: Why does this happen? people chew differently and are raised to have manners in different ways.

2. when people don't take care of their feet: Why does this happen? people don't cut their toenails or get all the dead skin off their feet and still wear open-toed shoes.

3. when people aren't motivated: Why does this happen? people do not get inspired to get up and do the things they need to do. Maybe because of their upbringing.

4. being uncontrollably cold: Why does this happen? even when you are wearing 4 layers, the cold still gets in. But, you can't fit any more clothes on your body. Maybe its the climate you grew up in.

5. not having a plan: why does this happen? people don't think of the future and the possibilities of things that could happen or come up.

6. canvas not working: why does this happen? canvas may be having issues on the back end of the website, something users cannot control.

7. no car parking on campus: why does this happen? UF does not provide enough parking spaces for the number of decals it sells.

8. Archer during rush hour: why does this happen? so many people leave work to go home at the same time creating unavoidable traffic.

9.  being unprepared for weather conditions: why does this happen? not checking the weather before leaving for your day and then ending up in a rainstorm.

10. running out of medicine: why does this happen? you aren't responsible enough to remember to buy more or your doctor won't give you another prescription until you come in for a follow-up.

11.  not being able to share your opinion: why does this happen? people discriminate against you and make it so your opinion can't be heard or acknowledged.

12. feeling forgotten: why does this happen? people forget their self-worth and that they have people who love them and think of them.

13. when you arrive at a class that has been canceled: why does this happen? you didn't check your email to see the announcement from the professor that he canceled class.

14.  not being taken seriously: why does this happen? because you may be different from the majority or unique in a way someone cannot recognize.

15. food taking too long at a restaurant: why does this happen? the restaurant isn't prepared for the volume of people they have and the kitchen gets behind.

16. when your clothes come out of the dryer still wet: why does this happen? maybe the dryer is too old or you put too many clothes in? this is especially annoying when you have to pay for your laundry!

17. when a restaurant gets your order wrong: why does this happen? your waitress puts your order into the chefs wrong.

18.  when you're trying to sleep but your roommates are being loud: why does this happen? they have a different schedule than you and don't have to wake up early in the morning.

19. When your phone dies and you don't have a charger: why does this happen? you weren't responsible to pack a phone charger with you for the day.

20. When your laptop won't connect to wifi: why does this happen? there is probably something wrong with the wifi settings on your laptop.


Writing 20 bugs was definitely a challenge! I did not think it would be this hard to think of 20 things that annoyed me. By number 7, I was stumped. It took me a few days to think of the rest. I learned that a lot of the things that bother me cannot be controlled. Sometimes it's easier just to take a deep breath and let go! Don't worry about the small stuff.

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