Identifying Local Opportunities

Article #1: Dairy dilemma: Farmers face challenge of adapting to changing consumer demand

Newseum link: https://www.newseum.org/todaysfrontpages/?tfp_id=IN_HB

Direct Link: https://www.heraldbulletin.com/business/dairy-dilemma-farmers-face-challenge-of-adapting-to-changing-consumer/article_57d917e6-42b6-11ea-93a4-0b26f23a66f2.html

Story: There has been an increasing decline in the amount of milk that Americans drink for decades. This is placing a lot of stress upon the dairy industry, including both big and small dairy farmers. Many farmers have had to make tough choices between barely making ends meet and giving up their farms. They are feeling the financial chokehold, and there are no signs of it letting up as alternative products become more popular. In particular, the last 5 years have been very hard on the dairy farmers in Indiana.

Problem: Dairy farmers are losing market share to alternative products and due to trends in American society to consume less dairy. Thus, the dairy industry has a surplus and no where to sell it. This is leading to big losses, making it very hard for them to make ends meet. Many farmers have had to forfeit and declare bankruptcy.

Who has the problem: Dairy farmers in Indiana (as well as the entire United States) have this problem. This decline in intake of dairy products is nationwide, and thus the grip of it is felt by dairy farmers everywhere. This is a national problem for dairy farmers, dairy companies, and their livelihoods.

Article #2: Homeless students on rise in US: Study

Newseum link: https://www.newseum.org/todaysfrontpages/?tfp_id=IN_JG

Direct Link: https://www.journalgazette.net/news/local/schools/20200131/homeless-students-on-rise-in-us-study

Story: There is a growing number of students in the public-school system in the US who are deemed homeless, mostly all due to financial hardship. This number was nationwide at 1.5 million for the 17-18 school year. Of this, 74% were sharing housing with others, 12% were in shelters or transitional housing, 7% were in hotels or motels, and the other 7% were completely unsheltered. Schools are attempting to do whatever they can to help these students, but the numbers are growing, and the problem is only getting bigger.

Problem: An increasing number of students in the US public-school system are facing homelessness. This has a variety of negative impacts upon the lives of students and is a hindrance to their education. This can prevent them from having a healthy, stable upbringing and make it harder for them to seize opportunities.

Who has the problem: This problem is possessed by the students, their families, the families helping them, the schools, the school district, homeless centers, and the local and state government.

Article #3: Bills may require schools to test their water

Newseum link: https://www.newseum.org/todaysfrontpages/?tfp_id=IN_IS

Direct link: https://www.indystar.com/story/news/2020/01/30/indiana-bill-would-require-all-schools-test-water-lead-copper/4617587002/

Story: A new bill passed by the Indiana House 89-2 will be moving to the Senate. This bill will require all Indiana schools to test for lead and copper contamination in their water by 2023. The government wants to take preventative measures in order to prevent the situation from turning into something like Flint, Michigan. In the event that facilities are not up to spec, corrective measures will need to be taken.

Problem: Schools will have to complete testing if the bill is passed, and if they are not up to spec, they will have to take corrective measures and spend potentially a great deal of money to get the contamination levels down.

Who has the problem: This problem is had by the schools, the school districts, the local and state government, and the students of the schools and their families. It may also be had by plumbers or water purification companies who will need to potentially find a way to service the influx of demand.

Article #4: Sign-stealing scandal sends signal that MLB needs to tech up

Newseum link: https://www.newseum.org/todaysfrontpages/?tfp_id=IN_TS

Direct link: https://www.tribstar.com/news/news_columns/mark-bennett-sign-stealing-scandal-sends-signal-that-mlb-needs/article_80d0c8cc-842b-56dc-af3a-833c02aea36c.html

Story: Due to the illegal sign-stealing scandal in the 2017 World Series and potentially the 2018 champion Boston Red Sox, the MLB needs to develop strategies and techniques to deal with cheating. Two Rose-Hulman professors are speculating that advanced technological solutions will play a major role in accomplishing this and ensuring the integrity of the game. In addition, the MLB is realizing that they need to do more to actively search for and stop teams from cheating.

Problem: Teams are using illegal, covert methods to steal signs from other teams and crack their “codes”. Such methods include video feeds and hidden cameras. Such things are strictly prohibited, leading to a scandal and a very big problem that needs to be addressed. The MLB is actively working on a solution.

Who has the problem: This problem is had by the MLB, their teams, the players, the coaches, and the fans of the MLB as well as any associated providers, companies or vendors. This could potentially even be expanded to their fans.

Article #5: Businesses Prep for Super Bowl Sunday

Newseum link: https://www.newseum.org/todaysfrontpages/?tfp_id=OH_MT

Direct Link: https://www.mariettatimes.com/news/2020/01/businesses-prep-for-super-bowl-sunday/

Story: Despite the fact that there are no local teams playing in the Super Bowl, Marietta restaurants and stores still expect a big influx of business leading up to and on Sunday. As a result, they have begun to stock up early so as to prevent any shortages and to maximize profits. During the Super Bowl, Americans are reported to consume 28 million pounds of chips, 322.5 million gallons of beer, and 1.38 billion chicken wings.

Problem: Restaurants and stores need to gear up early and fast in order to support the extreme increase in demand caused by the Super Bowl. The Super Bowl has become a yearly American tradition, and has become notorious for being one of the biggest days in the eatery industry. In addition, suppliers (like chip and beer companies) need to ramp up production in order to supply their customers with the products they so desire.

Who has the problem: This problem is had by local restaurants, chain restaurants, food suppliers, food producers, grocery stores, and the consumers themselves.

Forming An Opportunity Belief

Beginning Point: I believe that there exists an opportunity in the restaurant industry, from fast food and mom and pop shops to up scale steak houses, for the need for better, insulated take out bags.

Unmet Need: People often have to deal with subpar paper or plastic bags that provide little in the way of insulation when taking out food to eat at home or taking home leftovers. This reduces the quality of the food and provides a less optimal dining experience.

Who has the need: All restaurant patrons have this need. This includes people who go through fast food drive throughs like McDonalds, people who carry out food from places like Chipotle, Bolay, or even steakhouses like Outback (to eat at home). This problem is also extended to individuals who eat at the restaurant and would like to take their leftovers home while keeping them fresh.

Where did the need come from: This need has more or less always been around, especially ever since the advent of the popularity of eating out, which is very popular in American culture. In addition, food is a universal need that has been around since the dawn of time.

What are people doing to meet this need now: Not much is being done to meet this need. Any restaurant that I have gone to, from fast food to upscale fine dining establishments, uses the same thing for take out or leftovers: a plastic or paper bag, perhaps branded with the company’s logo. This provides next to no insulation, hence the stem of the opportunity. Some food delivery services give their drivers insulated bags, but this does little to protect the actual food in its own bag (keeping the food hot, not the bigger bag).

Percent Certainty the problem exists: 80% sure.

Prototypical Customer(s): Fast food patron, carry out patron, patron taking leftovers. Single individual, family, group of people.

Prototypical Customer #1: College Student at UF

Need: The student lives off of campus and does not cook often, so take out is a staple of her diet and a necessary part of her daily routine. She does not have the time to cook meals multiple times a day, but still values a good, fresh meal. Often times when she gets takeout, she recognizes that the food is quite cold upon arriving home and has to microwave it. This makes her unhappy, and she feels as if she is not getting what she paid for.

Awareness of: Her awareness of this need occurs multiple times a day, and it has been occurring ever since she started at UF about a year ago. Thus, it has become a part of her daily routine (and hence a daily annoyance and struggle).

How addressing: She has no real other option aside from microwaving the food when she gets it home in order to warm it up to a feasible temperature for eating.

Current Satisfaction: She is very displeased with the state of this. Although it is a small part of her day, it adds unnecessary dissatisfaction and annoyance. This is not something that she, or anyone for that matter, wants or needs in their busy life.

Prototypical Customer #2: Mother of 3 Kids

Need: She and her husband both work full time jobs, so more often than not, it is not feasible for them to cook dinner after a long day of work. Their time is valuable, and they often would rather take the easy way out and get fast food. After a long day, the last thing she wants is for her or her husband to bring home food, only for it to be stone cold by the time it gets home. This makes the family upset, especially their picky children.

Awareness of: This occurs upwards of four times a week, as the family will usually cook at home on Friday, Saturday, or Sunday. However, this varies depending on their schedules, if their kids have sports, etc. Thus, it is a constant unmet need for them. They have had this practically since they got married 8 years ago.

How addressing: They have started only going to fast food restaurants within close proximity to their home, so as to minimize how cold their food is when it gets home. This greatly limits their choice of food and prevents them from getting food from their favorite restaurants across town. However, they still more often than not have to warm up their food once it is home.

Current Satisfaction: The family (especially the children) are very unhappy with their current situation, but they deal with it since they don’t believe they have any better of an alternative due to the time savings of getting fast food. Additionally, they are too busy to actively search out or think of a solution.

Prototypical Customer #3: Business Professional

Need: He is a high-ranking businessman at a well-known company. He has very little time to cook since he works 60+ hours most weeks. In addition, he also has little incentive to cook because he lives alone. He can’t justify the time spent grocery shopping and preparing meals for one single person. He hates when his food is cold because it then requires him to waste more time warming it up. Also, when he puts the bags of his food in his passenger seat or on the floor, the bags often leak through, potentially staining his nice seats in his Mercedes and leaving a foul, unpleasant odor in the car.

Awareness of: This occurs two or three times a day, every day for him. He works almost every day of the week, and he likes to get Starbucks in the morning (coffee and sandwich), some local chain for lunch, and the same for dinner- sometimes splurging on a more expensive take out dinner like a nice steak from Ruth Chris. He has had this need ever since he started this job 6 years ago.

How addressing: He has had to keep towels in the trunk of his car in order to put them on the floor or his seat so as to prevent stains. As far as the smell goes, he has been paying money for an atomizer for his car to remove the smell. He has nothing really in the way of keeping the food warm aside from microwaving it at home.

Current Satisfaction: He is greatly upset by the state of this issue. He hates having any cold food, especially since he prefers the finer things in life. Additionally, he hates any inconvenience that occurs because it wastes his valuable time. He feels as if he is stuck between a rock and a hard place.

Reflect: All of these interviews made me realize that my opportunity does hold a solid presence in the day to day lives of many different individuals around me. The most surprising thing to me was that not only did the cold food bother people, but the smell it left as well as any potential stains from the food “sweating” through the bag. All of my findings were as anticipated, and none of them aside from this seemed even slightly unordinary. This truly is such a common, day to day problem in our society.

Summary: I would say that all, if not more, of my original opportunity is there. Every single person who I talked to spoke very passionately about how much the issue annoyed them, and how it put a damper on their day to day lives. As a result, I would say that my new opportunity is even more accurate than when I started. I realize that this problem applies much more to those who are getting carryout than anyone who may be taking leftovers home. This helped narrow my market and target audience.

Personally, I really believe that entrepreneurs need to seriously consider customer feedback, because without it they may be losing potential of their idea and perhaps not even creating a winning, impactful, and profitable product or service at all. At the end of the day, an entrepreneur has to be realistic and give the people what they think they want, not what we think they want. Consciousness and perspective are very important.

My Entrepreneurship Story

                Perhaps the first time I was truly exposed to entrepreneurship was when I started a car detailing business with my best friend in my senior year of high school. This had been inspired by both my love for cars as well as my passion for cleaning them and being a perfectionist in doing so. I had been cleaning my car (as well as my family and friend’s cars) for almost an entire year prior on a weekly basis. After washing over 100 cars, I started to realize that I had a talent for it and that I truly enjoyed it. In addition, I lived in an upscale neighborhood that lacked a good nearby detail shop. People had to take their cars 30-45+ minutes one way just to get them washed, which was very inconvenient and put their cars at risk of getting dirty in transit. This was especially a risk for people with cars that were rare, historic, or very expensive.

                As a result, I realized how much money I was missing out on by not marketing my services to the wider audience in the entire neighborhood. I had been doing good family-style business, but I had room to scale. Thus, my friend and I made some business cards, gathered our supplies, and set up a low cost but high impact marketing plan by using our networks. I had connections with the owner and staff of the neighborhood country club, and so I worked with them in order to promote my service to the members of the club (the majority of whom were residents in the large, upscale neighborhood). Within days, we had a plethora of customers, and we really had to ramp up our schedules to wash more and more cars.

                Looking back, it’s something I was very proud of. At the age of 17, I was able to identify an unmet need (one which those having it were conscious of), evaluate my barriers to entry and my target market, and create a low cost, short time-to-revenue business plan to start making revenues (and profit!). It will forever be one of my favorite memories, and it’s something that taught me a lot about just how valuable it is to always be aware of problems those around me are having and how I can potentially solve them while making money.

                I chose to enroll in ENT 3003 because I wanted to delve deeper into the world of entrepreneurship on a more theoretical and factual level. It has always been an interest of mine, but it’s all been through what I’ve learned from myself and those around me. I’m a computer science major, but I’ve always had a love for business and being one’s own boss, making an impact on society, etc. Having a great deal of technical and problem-solving knowledge is a great advantage but knowing how to properly leverage it is next level. That is what I seek to gain from this class and my studies of entrepreneurship.

A car which I frequently detailed.

My Bug List

20 Things That Really Bug Me:

1. It bugs me when I walk past fraternity houses like ATO and Phi Delt on my walk to school on 2nd Avenue because they leave a lot of plastic cups and beer cans in their yard and on the sidewalk in the morning after parties. This occurs because their parties end late at night, and no one wants to pick up beer cans at 3 in the morning.
2. It bugs me when people take more than one set of dumbbells at the gym because it is improper etiquette and it prevents other people (like me) from using them to do their own exercises. This often occurs because people are in their own world and don't realize that it is bothering other people in the first place. They do not realize that it is breaking unspoken gym code.
3. It bugs me when the bagger at Publix always asks if I need a hand with taking my groceries to my car. Keep in mind that I am a grown young man and a bodybuilder. Do I really look like I need help carrying two five pound bags? (you tell me). This happens because Publix is trying to create a positive customer experience, but sometimes they need to realize that less is more.
4. It bugs me when I walk out of my apartment in the morning and find homeless people sleeping on the floor in the lobby. This occurs not only because they have no where to sleep, but also because my apartment complex doesn't have the mind to install a fob system to protect the residents.
5. It bugs me when my blender bottle smells like death after I leave any sort of drink in it for too long (protein, BCAAs, etc.). The main cause is that I am too lazy to clean them immediately, but the really important cause is that they are made out of plastic which is very prone to absorbing the aroma of its contents.
6. It really bugs me when people driving cars cut me off on my bicycle. I can't tell you how many near death encounters I have had just in the last week with erratic drivers not paying attention, especially by the parking lot next to the business school.This occurs because people are too preoccupied and there is nothing to stop them from being on their phones and distracted.
7. I hate it when my carpet and couch stain when I so much as drop a bit of liquid on it. The stains are near impossible to avoid or to get out. This occurs due to the fact that we have yet to come up with a good stain proof solution for things like carpet and cloth.
8. I hate when my stove gets all dirty and covered in spices after I meal prep for the week. This occurs because there is no good or fast way to prevent crumbs or bits of seasoning from getting stuck to the burners and the base of the stove itself.
9. It bugs me when my bedroom window gets all fogged up on a cold morning, preventing me from seeing the beautiful sunrise when I wake up. This occurs because no one has invented a good, cheap fog proof coating for windows yet, at least not one that apartment complexes seem to know about.
10. It bugs me how there is no reliable way to know how long to pop popcorn for. This occurs because every microwave and brand of popcorn differs slightly from one another. There is no standardized system or metric for it.
11. It bugs me when I am walking in Turlington Plaza and someone tries to hand me something (a flier, etc.) without my consent. This happens to me on an almost daily basis. This bug exists because clubs and organizations on campus don't realize that no one cares or is going to actually act upon the flier or thing they are forcibly giving to students.
12. It bugs me when people in Turlington Plaza walk slower than a snail. Often times I am in a hurry to get to my next class, and people who are in front of me walk like zombies. This occurs because people get so caught up in looking at their phones and talking to their friends that they lose all sense of spatial awareness.
13. It bugs me when I make popcorn and the butter is not evenly dispersed throughout all of the popped kernels. This occurs because the design of popcorn bags is very flawed and sub optimal.
14. It bugs me when I am at the gym and people don't wipe their puddles of sweat off of the benches after using them. This occurs due to the fact that the towels provided by the gym are of poor quality and located at highly inconvenient locations throughout the gym.
15. It bugs me (and my girlfriend) when people honk at us .0000000001 seconds after the light turns from red to green. This has happened to us three times just this week. This occurs because people are impatient and lack the perspective to see that they too do it all the time.
16. It bugs me when my glasses get all smudged and dirty after just a few hours of wearing them, despite the fact that I paid extra for special coatings to try and prevent this from happening. This occurs due to the fact that whatever technology is currently being used for such coatings is very lackluster.
17. It bugs me when my dad hats/ trucker hats get sweat stains/sunscreen lines on them, causing them to stain and look faded. This occurs due to the fact that no good technology or coating for preventing this currently exists.
18. It bugs me when literally every single surface in my apartment collects dust after just a day or two. No matter how often I wipe them or what I use to clean them, it always returns. This occurs due to gravity (but we can't fix that!) and, more importantly, the fact that no technology for such a coating or product exists.
19. It bugs me when I forget to take one of my vitamins or supplements on a certain day of the week. This occurs because I don't have a convenient system to store them and or be reminded to take them.
20. It bugs me how freakishly cold my apartment gets at night despite the fact that my walls are brick and I never change the setting on my AC/heat. This occurs because the HVAC at my apartment is rather old and in dire need of a complete flush and or replacement.

To be completely honest, I didn't have a hard time at all coming up with 20 things that bug me. I am naturally a very hyper aware person with a great memory, so things flowed with ease off of the top of my head. Anytime that I got stuck, I would just look around at my surroundings and use them for inspiration. I could see how this exercise could be rather challenging for someone who is not so hyper aware of their surroundings at all times like I am. 

Getting Set Up

This is my first attempt at creating a blog post for ENT3003.