9A – Testing the Hypothesis, Part 2

The five people that I interviewed gave me a lot more insight on my opportunity. I found that even though everyone could see where this is a valid problem, not everyone is affected by it. The first person I interviewed was a young adult who does a lot of online shopping, but lives in a luxury apartment complex that has a package room and a person who signs for all of them. Another man I interviewed works from home so he rarely misses the drop off. The others had various reasons why they avoided online shopping, such as, being a frequent traveler, not tech savvy, and being paranoid of fraud.

Who: People who either stay home all day, have someone else take care of their packages, or just simply do not shop online. 

What: If you are already planning to be home all day, the large delivery time frame would not bother you.

Why: People who order things online and do not stay home all day are inside the boundary, whereas, people who either stay home all day or do not order things online are outside the boundary.

Inside the boundary:

People who order things online and do not stay home all day.

There needs to be a better way to track packages.

Package tracking technology is currently very subpar.

Outside the boundary:

People who either stay home all day or do not order things online.

This only applies to people who order things online and do not stay home all day.

People can just have their packages sent somewhere they are sure someone will be there to receive it.

10A – Elevator Pitch No. 1

8A – Solving The Problem

I absolutely hate when I have been looking forward to receiving a package for days, sometimes even weeks, and the delivery day finally comes, but I miss the package because I had another obligation keeping me from staying home all day waiting for it. Most delivery companies now offer tracking tools but they usually very vague. For example, it will often say some like "Your package got loaded onto the truck at 7:31am and should arrive before 8pm", so what are you supposed to do? Wait around and do nothing for 12 hours? No, I feel like there is a better way. I think we need to upgrade the tracking system. If people were given a smaller and more accurate time frame that their package is expected to be delivered, they could plan their day around being home for it. For example, my father works 7 minutes away from his house, so if he was able to be alerted when his package was close being delivered, he could take a break and go home to sign for it and go right back to work. I would like to create an app that has a much better tracking system specifically designed for delivery companies to offer their customers. Some of the things this app would include are a real time GPS tracker, push alerts, and an option to have your package sent to a different address.

7A – Testing the Hypothesis, Part 1

OPPORTUNITY 

Delivery companies are forced to redeliver packages that require a signature when no one is home to receive them because packages requiring a signature cannot be left unattended. 

Who: Delivery companies who deliver packages that require signatures.

What: They are forced to redeliver packages that require a signature when no one is home to receive them.

Why: Packages requiring a signature cannot be left unattended.

TESTS

Testing the who: The people receiving the packages who are unable to sign for them also face this issue. 

Testing the what: It is only as issue when people are not home to sign for the package.

Testing the why: The company who is sending the package is usually the one that decides the package requires a signature. They are responsible for lost/stolen packages so they want to be sure it gets to the customer so that they do not have to send a replacement.

INTERVIEWS 

1. The first woman I interviewed could see where there could be an issue but says it doesn't really affect her. She is a stay at home mom so she is home most of the day, therefore, she never really misses a package. 

2. The second person I interviewed was a man who used to work for FedEx. He said it was very frustrating going to the same house multiple times to attempt to deliver a package. He stated that is added so much extra work to his already long route. He said it would have been much easier if there was a way around the issue. He mentioned that maybe if people could more accurately track their package to find out a more exact time it would be delivered, they could plan their schedule around being home to sign for their package.

3. The third person I interviewed was a man that works 50+ hours a week. He said he is almost never home to sign for his packages so he either has to have them sent to his job or wait a few extra days until they deliver company decides to hold it at their warehouse for him to pick up himself. He wishes there was a solution for this problem, but did not have any ideas of his own to offer.

4. The fourth person I interviewed was a man that travels for work so he is almost never even in the same state! He stated that he stopped ordering things online that require a signature for this exact reason. He got tired of having to go pick his packages up at the warehouse because it took the convience out of online shopping. 

5. The fifth person I interviewed was a woman who has a big family. She said she does a lot of online shopping, but has a big household so there is usually someone home to sign for it. She mentioned how she sympathizes with the delivery men who have to redeliver the packages over and over again when no one was home. 

SUMMARY

Though testing the who, what, and why, as well as, interviewing people about my opportunity I gained a lot more insight and knowledge. I learned that it is definitely an issue, but that it affects some people more than others. For example, a stay at home mom is much more likely to be home to receive a package than a man who works 10 hours a day. I also learned that it is very frustrating for the delivery drivers because it adds more to their workload.

6A – Identifying Opportunities in Economic & Regulatory Trends

1. US interest rates are zipping higher, but don't blame the Fed

https://www.cnbc.com/2018/08/01/the-interest-rate-that-affects-mortgages-is-rising-even-though-fed.html

I found this article on cnbc.com. The interest rates rising leads me to believe that an opportunity exists because less people will be able to afford big purchases such as a house. That means that people will have to rent longer. A tiny apartment is okay when you are young, but as people and families grow they desire more space. I think it would be a great idea to capitalize on all the people that are wanting more living space but can't quite afford to buy a house by building townhome style places for rent. The ideal customer with this opportunity would be a young family that makes an average wage that doesn't want to live in an apartment. I think this opportunity is relatively easy to exploit because it is simple to build townhomes and get people to rent them. I saw this opportunity because my cousin is going through this exact situation right now. She wants to upgrade to more living space but cannot afford a mortgage with such a high interest rate yet.

2. Buying an Electric Car Creates a Buffer Against Rising Gas Prices  

http://www.plugincars.com/buying-electric-car-creates-buffer-against-rising-gas-prices-133863.html

I found this article on plugincars.com. Gas prices keep rising causing more and more people to switch over to an electric vehicle. The ideal customers with this opportunity are people in the market for a new car who drive a lot and do not enjoy throwing hundreds of dollars away on gas every month. I think this opportunity is relatively easy to exploit because the electric car companies already exist. It is just about choosing one to invest your money into. I saw this opportunity because I recently bought a new car and the option of switching to an electric car was highly considered due to the high gas prices.

3. The marijuana industry created more than 18,000 new jobs in Colorado last year

https://www.washingtonpost.com/news/wonk/wp/2016/10/27/the-marijuana-industry-created-over-18000-new-jobs-in-colorado-last-year/?noredirect=on&utm_term=.112ce0c97e2f

 

I found this article on washingtonpost.com. "In 2015, the legal marijuana industry in Colorado created more than 18,000 new full-time jobs and generated $2.4 billion in economic activity." I believe an opportunity exists to legalize and regulate the sale of marijuana throughout the entire United States. The ideal customers with this opportunity are people that are in need of this drug to improve their quality of daily life. I think this opportunity is relatively easy to exploit because most people would rather buy drugs legally then illegally because it is safer and comes with much less risk. I saw this opportunity because I have epilepsy and there are many studies showing the benefits of marijuana to help seizures.

4. The last straw: Moving past disposable plastic spurs companies to innovate

https://www.washingtonpost.com/lifestyle/food/the-last-straw-moving-past-disposable-plastic-spurs-companies-to-innovate/2018/09/11/f5709516-b5fd-11e8-a2c5-3187f427e253_story.html?utm_term=.9dd0b448d06f

I found this article on washingtonpost.com. There has been a ban on plastic straws recently, this leads me to believe there is an opportunity for the innovation and production of straw alternatives. The ideal customers with this opportunity are restaurants and bars that would still like to provide their customers with a straw option. I think this opportunity is relatively easy to exploit because it shouldn't be too hard to come up with different materials to make a straw out of. I saw this opportunity because my grandfather has tremors and has to drink using a straw to avoid spilling his drink all over himself.

5A – Identifying Local Opportunities

1. Jacksonville, Fla., Restaurant Shuts Doors on Workers
http://link.galegroup.com/apps/doc/A120749186/ITBC?u=gain40375&sid=ITBC&xid=03578b36.

This article is about how Hurricane Hatties Restaurant and Bar in Jacksonville, Florida unexpectedly shut down. The employees showed up to work their scheduled shifts only to find a sign on the locked doors informing them that the restaurant is no longer open. The employees say they had no warning of this and they cannot get ahold of the owners to find out what is going on.

The problem is that these employees are now left without a job. Most of them are college students that rely on their paycheck to pay tuition, rent, food, etc. They had no prior notice, so none of them had another job lined up.

The employees are the ones that face this problem because they now have to scramble for money in order to pay their bills and survive.


2. Bank of America to Cut 10,000 Jobs over Next Year
http://link.galegroup.com/apps/doc/A121983206/ITBC?u=gain40375&sid=ITBC&xid=93674ce9

This article is about how Bank of American plans to cut 150,000 jobs. They are mostly attempting to thin out management layers. By doing all of this, they are expecting to save upwards of 600 million dollars.

The problem is that thousands of people will be out of a job.

The employees being laid off are the ones that face this problem because they are forced to find a new job.

3. My gag gift got me thrown in jail
http://link.galegroup.com/apps/doc/A18413679/ITBC?u=gain40375&sid=ITBC&xid=7894cc46

This article is about how a man brought a gag gift in his luggage and got arrested. It was an old hand grenade mounted to a wooden stick that he bought at a flea market for 12 dollars. There is a law that says it is a felony to carry anything that resembles a weapon through the airport. So, because of that law, the man was arrested.

The problem is that the man did not mean any harm and did not plan on using it as a weapon (he couldn't even if he wanted to) but he still has to face the consequences.

The man who brought the hand grenade in his luggage is the one who faced this problem.

4. Florida communities continue recovery processes after Irma devastation
http://link.galegroup.com/apps/doc/A505386478/ITBC?u=gain40375&sid=ITBC&xid=bab618f9

This article is about the road of recovery for Florida after Hurricane Irma. The article is basically just updating everyone on what got restored recently and what is still left to be done.

The problem is that the Hurricane happened many months ago, yet people are still facing the issues and devastations that it caused.

The people that live/work in areas that have yet to go back to normal are the ones facing this problem.

5. Hotel industry call to action against human trafficking
https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/openurl?ctx_ver=z39.88-2004&rft_id=info%3Asid/infoweb.newsbank.com&svc_dat=WORLDNEWS&req_dat=0D0CB57BE7FF6D8A&rft_val_format=info%3Aofi/fmt%3Akev%3Amtx%3Actx&rft_dat=document_id%3Anews%252F15B00FB084196C58

This article is about the issue of human sex trafficking and what the hotel industry can do to help.

The problem is that Florida has the third highest rate of human sex trafficking in the nation. These people are getting away with their horrific crimes because of people not paying as much attention to red flags. If the hospitality employees are better trained to pick up on the red flags that come along with sex trafficking, it would hopefully help a lot of innocent people escape the nightmare of being sexually abused/trafficked.

The people that are victims of these awful crimes are the ones that face this problem.

4A – Forming An Opportunity Belief

Everyone who eats cereal knows the struggle of it getting soggy. This issue has existed since the beginning of cereal eating time and it is very unfortunate. The only things we do to help combat this issue right now is to make a smaller bowl of cereal and refill it or just eat the cereal as fast as you can and hope for the best. I am 100% sure the opportunity to fix this problem exists.

After speaking with some prototypical customers, I have concluded that this is a pretty common struggle with cereal and 100% of people would appreciate a solution. The thing that surprised me was the variances in level of impact this problem had on people. Although everyone agreed that it is a problem and would like a solution, not everyone was the same level of passionate about it. One person I spoke to said they hate soggy cereal so much that they almost never eat it or when they do they waste more than half of the bowl. While others say that it bothers them but the still continue to eat it most mornings.

After doing this exercise, my original opportunity is most definitely still there. I believe this my new opportunity is at about the same level of accuracy as when I first started. I think entrepreneurs should always listen and adapt their opportunities based on customer feedback because they are the ones that are going to be buying and using the products so that is who they need to be catering to.

3A – Your Entrepreneurship Story

I grew up doing gymnastics and cheerleading. Especially in cheerleading, we participated in lots of fundraising events. As I grew older I got to be more involved in the planning of these events and grew to like it more and more. We did things such as car washes,  tye dye t-shirt stands, bow making classes, and even rented out an ice cream truck once! I think it were those experiences that started getting my mind in the business direction, career wise.

I enrolled in this class because it was one of the required classes for my major. I hope to gain some creative business knowledge from my professor, as well as, my classmates.

2A - Bug List

1. When my hands are full and I have to open/close the trunk of my car using the handle.

This bug exists because there is not a hands free way to open/close the trunk of my car.

2. When my phone connects to my car's bluetooth and starts playing the first song on my iTunes instead of my Spotify playlist that I would rather listen to.

This bug exists because there is no option on my phone to set Spotify to play automatically. (That I know of.)

3. When I have to dirty a measuring cup every time I make oatmeal.

This bug exists because there is not an option to use the oatmeal bag itself as a measuring cup for the milk.

4. When the toilet seat is cold in the morning.

This bug exists because the AC is cold and the toilet seat does not have a warmer.

5. When you have to sit at a red light even when there is no one else on the road.

This bug exists because there is no sensor to tell the light if there are other cars or not.

6. When you pay for Hulu but still have to watch ads.

This bug exists because you pay a minimum price to watch the content but still have to watch the ads or they would have to raise the cost of the membership.

7. When you buy something and then it goes on sale the next day or was cheaper somewhere else.

This bug exists because prices are always fluctuating.

8. When you realize that there is no more toilet paper after you have already gone to the bathroom.

This bug exists because I did not check prior to going to the bathroom.

9. Waiting in bathroom lines.

This bug exists because sometimes people have to go to the bathroom at the same time and/or there are not enough bathrooms for the amount of people.

10. When wifi is slow and you need to get something done in a hurry.

This bug exists because sometimes the wifi connection is bad.

11. When Wawa doesn't have my favorite donut in the morning.

This bug exists because they are really yummy and people buy them all before they make more.

12. When customers tell you they are ready to order but they really aren't.

This bug exists because they are afraid you will take too long to come back to take their order.

13. When you order clothes online and they don't end up fitting.

This bug exists because every brand has different sizing.

14. When I have to do laundry every 2 days.

This bug exists because I only have 2 sets of work clothes.

15. When the apparatus you want to use is being used.

This bug exists because the gym gets crowded and there are limited machines.

16. When a package requires a signature but no one is home when it gets delivered.

This bug exists because the mail truck is unpredictable.

17. When your cereal get soggy.

This bug exists because the cereal at the bottom of the bowl sits in the milk while you eat the top portion.

18. When parents let their children scream in a restaurant.

This bug exists because some people are not considerate enough to take their children outside to take care of the problem.

19. When you take a shower and the mirror gets foggy but you are in a rush to get ready.

This bug exists because the steam from the hot water fogs up the mirror and takes a few minutes to readjust.

20. When spam numbers call you from different numbers so blocking them doesn't solve anything.

This bug exists because they have multiple numbers they can call from.

Reflection:

This list was fairly easy to come up with because I added to it over time as the bugs came to me. Having to answer why the bug exists helped me become less irritated with the problems. Instead, it put me in a more problem solving mindset. Overall, I enjoyed this assignment.