Wednesday, January 30, 2019

Solving the Problem

I think an opportunity exists in providing consumers from college students to other adults fast delivery of basic, every-day items. I want this to be available all across the country, in big and small cities, because these consumers exist everywhere. The problem with a lot of delivery services that exist now is that they operate as third-party companies. For example, in Gainesville I would have to order food from my restaurant of choice, they would then send that information to UberEats, BiteSquad, or 352Delivery, and then they would pick up my food to bring to me. For the sake of convenience, I would create a stand-alone store, similar to a convenience store or grocery store, that would be stocked with things that people need such as food, toiletries, and OTC medication. From there, consumers could order what they want online or in an app and could get their things delivered 1) much more quickly (from lack of a middle-man) and 2) cheaper (the elimination of fees needed to pay another company to deliver).

Testing the Hypothesis, Part 1


  1. Access to everyday items
  2. Several students living both on and off campus could benefit from rapid delivery of schools supplies, toiletries, and other basic items.
    • The who: college students
    • The what: rapid delivery of necessary items
    • The why: alternative to physically going out to the store

    • Testing the who: While students are the prototypical customer for this opportunity, other Americans around the country could utilize this service. People who struggle to care for themselves or simply don’t have enough time in the day to get things done like the disabled and/or injured, the elderly, and parents of newborns would appreciate having everyday necessities brought right to their door.

    • Testing the what: Most delivery services can start to add up once tax, tip, and delivery fee costs are included. To appeal to a large consumer base and remain competitive, this service will need to keep these costs as low as possible.
    • Testing the why: For some college students, getting across town or off campus can be difficult if they don’t have a car; relying on the bus can be stressful at times, scooters or bikes can be a nuisance in bad weather, and Uber charges can be expensive. For the other possible consumers, the problem of not having a reliable mode of transportation can make running errands a nightmare.
  • Interview #1: I interviewed my sister who is a sophomore in college (ODU in Norfolk, VA) still living on campus. She doesn’t have a car, but does have a bike and lives in walking distance to most things. Her apartment-style dorm building has a stop-and-shop on the ground level (similar to Chomp and Go here at UF), but isn’t open very late. She said she could be interested in a delivery service that could bring her items she wouldn’t feel comfortable having to bike or walk to get at the store late at night. Knowing that many college students share her situation, I think this opportunity still exists.
  • Interview #2: I interviewed my mother who works full-time. She thought that it was a good idea for younger people, but doesn’t think she would use it at all or often. Now that she only has two kids living at home, one in college and one in high school, she doesn’t have to worry about running to the store for supplies or having enough time to get things done. Additionally, the rapid changes to infrastructure in Northern Virginia like metro expansions and more road expansions have improved traffic and made traveling much easier.
  • Interview #3: I interviewed my cousin who is a third year collegiate athlete. He recently got injured during conditioning and requires crutches to get around. He has a car but he told me he hardly uses it or has to have a friend or teammate drive him to get places. A delivery service might be an option for him because he would appreciate the luxury of having items brought to his front door, but is concerned about the costs. He currently uses an online service that brings is groceries every week because he's too lazy to do his own shopping and it's relatively cheap. If this convenience store could bring him things like Gatorade, Advil, and snacks he would definitely utilize it.
  • Interview #4: I interviewed my friend who is a fourth year student at VCU. She told me that a service already exists with this concept, "goPuff". The company has an app that you can shop through and have items delivered quickly, no more than a 30 minute wait, with a flat delivery fee of $1.95. With such a convenient method and low delivery fee, she said that it would be difficult to switch to another service that didn't offer these options.
  • Interview #5: I interviewed my grandmother who lives alone but has a caregiver that regularly comes to assist her with day-to-day activities. I explained how the delivery service could be used 24/7 and she believes she would use it frequently. Although she has a nurse to bring her things, she would like to have an option that would deliver things like toothpaste or shampoo when she's on her own. She didn't have any preference on pricing because the convenience of not having to call someone to take her to the store or pick something up for her is enough for her.
After conducting interviews and getting feedback from different perspectives, I realized that this service could be beneficial to more than just college students. So many people are on the go and don't have the time to run to the store when they need something. I also took into consideration people who physically can't always run errands (i.e. the elderly or disabled) that could utilize this service. With such a large population to work with it might make this opportunity easier to grow by keeping pricing down.

Friday, January 25, 2019

Identifying Opportunities in Economic & Regulatory Trends


  1. Technological advances that would be beneficial for small businesses - economic trend (https://www.thebalancesmb.com/how-to-create-a-mobile-office-for-your-small-business-2951768)
    • My friend who recently graduated from Duke was struggling to find a job, but just accepted an offer that will keep him "based" in Durham and allow him to travel around the country every week. I thought that was a great opportunity because it allows businesses to have many employees, smaller office spaces, and take advantage of technological advances that are being made in the industry. For example, the cloud, growing numbers of mobile devices (i.e. tablets, iPads, laptops), and faster internet connection allows us to work virtually anywhere. This would help boost economy by allowing companies to run more efficiently. The prototypical customer for this might be millennials and younger members of the work force who wouldn't mind constantly traveling for work. It might be difficult to exploit this opportunity to older employees and those with families, but recent college graduates would appreciate the experience.
  2. Environmentally-friendly business practices - economic trend (https://www.forbes.com/sites/simonmainwaring/2018/10/25/why-and-how-business-must-tackle-climate-change-now/#f4ebd434712b)
    • With global warming, rising sea levels, and frequent natural disasters (i.e. hurricanes and wildfires), the economy is at risk. Because businesses play a significant role in the economy, it is imperative that they take action to minimize the detrimental effects of climate change. By incorporating environmentally-friendly practices and reducing their carbon footprint, companies can not only save money, but help the planet. This includes reducing gas emissions in operations, saving energy, and implementing policies that favor the use of renewable resources. All businesses are the prototypical customer in this scenario. It will be difficult to exploit this opportunity because it can be expensive to be completely "green", but it is a necessary cost.
  3. Streamling the tax process - regulatory change (https://www.forbes.com/sites/richardlevick/2018/08/07/e-commerce-beware-sales-taxes-could-be-coming-to-a-state-or-locality-near-you/#5f2f66505f08)
    • I was talking to a friend who started her own online custom-made bikini company about the recent South Dakota v. Wayfair because she's worried how she'll be able to afford any sales taxes that will be implemented on online sales. I thought that their should be information distributed to online retailers and other smaller companies, the prototypical customer, about how sales taxes will affect them, how these will vary state to state, and how they can efficiently adapt to these changes without losing too much money. Perhaps classes and workshops could be offered to assist them. I don't think this will be too difficult to exploit given the amount of start-ups that already exist, and continue to be established.
  4. Trade zones - regulatory change (https://www.ttnews.com/articles/times-trade-war-companies-get-creative-avoid-tariffs)
    • As a consumer, I've been trying to keep up with the "trade wars" that are currently occurring with the President imposing tariffs on many countries and those countries firing back with their own. This has a tremendous effect on imports and exports which ultimately determines how much we pay for goods and services. I found an article that mentions trade zones that lowers the costs of certain imports from other countries that would help companies who rely on these supplies save money. The prototypical customer would be U.S. based businesses who import from places like China. I think this would be a good opportunity to exploit until the global market becomes more stable in terms of tariffs.

Thursday, January 24, 2019

Identifying Local Opportunities

  1. Youth Vaping Increases in Alachua County (https://www.alligator.org/news/youth-vaping-increases-in-alachua-county/article_91200192-1dd5-11e9-9850-bbdf28ac9a68.html)
    • Alachua County has seen a large increase in teenagers using electronic vapes and e-cigarettes over the past two years. With more companies targeting young consumers with attractive flavors and easy-to-use designs, it's become easier for high schoolers and even middle schoolers to get their hands on one.
    • The prevalence and exposure to smoking has gotten out of control. The smoking age needs to be changed from 18 to 21, like alcohol, to combat the problem.
    • Kids under 17 years old and their parents
  2. Police: 5 fatally shot inside Florida bank, suspect arrested (https://www.alligator.org/news/police-fatally-shot-inside-florida-bank-suspect-arrested/article_196b7d52-1f60-11e9-b22a-47ef4ddd5c3c.html)
    • A man fired shots in a bank with no known motive, killing five people.
    • Gun regulation, especially in Florida, continues to be a problem as the number of daily mass shootings increases every year.
    • Americans all over the United States
  3. Tampa Electric's Big Bend changes face increased opposition (https://www.tampabay.com/business/tampa-electrics-big-bend-changes-face-increased-opposition-20190124/)
    • Tampa Electric Co. has decided to convert from coal to natural gas after a unit five employees two years ago. They are receiving a lot of resistance from the community and different environmental groups who are encouraging the use of renewable resources instead.
    • The fracking of gas would not only be expensive, but have detrimental effects on the environment and community's health.
    • The residents of the Tampa area
  4. Five hurt in west Orange County multi-vehicle crash, firefighters say (https://www.orlandosentinel.com/news/breaking-news/os-ne-colonial-good-homes-crash-ocoee-20190124-story.html)
    • A woman driving with a suspended license and no insurance hitting three vehicles, sending five people to the hospital and injuring two others.
    • Distracted driving is more dangerous than people think.
    • Anybody on the roads, as a driver or passenger
  5. Florida college admissions: Getting into UF, FSU, UCF may depend a lot on where you went to high school (https://www.orlandosentinel.com/features/education/school-zone/os-ne-uf-fsu-high-schools-admissions-20181203-story.html)
    • Students from wealthier Florida neighborhoods are more likely to get accepted into the state's top-universities than students from lower-income areas.
    • A distinctive gap exists in the state that hinders students from opportunities to better themselves not only financially, but in assistance with getting higher SAT/ACT scores as well.
    • Lower- and middle-income students

Friday, January 18, 2019

Opportunity Belief

I believe that there should be a service available similar to UberEats or BiteSquad that delivers more than just food to students. This could include school supplies, toiletries, and basic items that can be found at any convenience store. Students living both on or off campus could benefit from this service as these are needs that have always existed. Currently, people have to walk, bike, scoot, bus, drive, or Uber to their nearest store to get these things, which can be difficult at times. I’m about 80% sure that this opportunity exists. I interviewed my roommate about this idea, but because we live less than 400 feet from a gas station she didn’t necessarily find it useful for her. I asked one of my coworkers who lives in an apartment near Oaks Mall and he did believe his needs were being unmet. He has to rely on the bus, which doesn’t always run at certain times on the weekends or holidays, so a service that could bring him supplies would be incredibly useful. Lastly, I interviewed a classmate who lives closer to campus off Hull Road and she said she would probably use this service often. She owns a scooter, but when it rains it’s difficult to get places. After talking to different people in a variety of situations I still believe that my original opportunity is there, but probably closer to 70-75%. It’s important for entrepreneurs to adapt to customer feedback to ensure they’re providing the best services and products they can. However, there should be a balance between adapting and “staying firm” to avoid drifting too far from the original belief and staying true to their original ideas.

Entrepreneurship Story

When I was a sophomore in high school, my best friend and I were getting ready for a “pink out” (wearing all pink) for a football game in October. We started thinking about how breast cancer awareness month sparks so much involvement from other organizations and companies for only 30 days, but ends once November comes around. We decided to start a club that would run all year long with fundraisers and events to raise money for research. It was a really fun and enlightening experience! In fact, it is still an active club that my younger siblings participate in. I decided to take ENT3003 because I haven’t really had any more experiences like that since coming to college, but I have a lot of ideas that I would like to get jumpstarted as I get ready to graduate and go into the real world.

Bug List

  1. Constant traffic in my neighborhood
    1. Construction behind midtown and not enough space
  2. Car takes awhile to start in the morning
    1. Cold weather causes the starter to act up
  3. Crowded gym the first few months of a new year
    1. Irregular gym goers taking up space for new year’s resolutions 
  4. Water sprinklers running in the rain
    1. Automatic system that doesn’t register the weather turn off
  5. Struggling to add courses for the next semester
    1. Limited seats and a large number of students
  6. RTS bus blasting AC or heat when it’s really cold or hot
    1. Drivers don’t adjust the settings throughout the day even when the weather changes
  7. Shutting the pool down due to lightning/thunder on a sunny day
    1. Patrons don’t understand the dangers of adverse weather near the pool
  8. Long lines on/around campus restaurants
    1. Majority of students eating meals at the same time creating a rush
  9. Having to order school supplies online
    1. All stores running out of everything from the semester starting
  10. Not having phone service during home game days
    1. Influx of people coming to Gainesville affects the phone signals
  11. Not being able to afford anything at the beginning of the semester
    1. Financial aid takes a long time to process
  12. Expensive utilities bill regardless of water/gas/electricity usage
    1. GRU runs a monopoly in Gainesville
  13. UF wifi running slow
    1. Too many students/faculty on campus at once
  14. Noise complaints on the weekends
    1. Living in off-campus housing with neighbors who have families/young kids
  15. Limited housing options after fall semester
    1. Landlords and realtors start advertising before you can figure out who to live with
  16. Long lines at Sam’s Club for gas
    1. The cheapest gas option in town that everyone wants to get
  17. Long lines at midtown/downtown on the weekends
    1. Limited amount of bars for people to go to
  18. Music that this exclusively posted on Apple Music
    1. Artists can receive more money working with Apple than other platforms
  19. Netflix increasing the price of subscription
    1. The addition of more movies and shows to watch
  20. Spending less time with family on Thanksgiving
    1. Black Friday deals starting earlier and earlier every year due to customer demand
It was difficult to reflect back on things that happen daily that I don’t necessarily pay attention to. I found it easier if I approached the exercise by mentally taking myself through my day from start to finish and identifying bugs that way! If I couldn’t think of anything else I then varied how my day could go, like if I had a shift at work or which classes I would need to get on campus for. Having to ask “why” something bugs me and separating it from my feelings or emotions helped to not only get to the root of the problem but also begin to brainstorm possible solutions. I thought this exercise was really helpful in getting the creative juices flowing. After coming up with a handful of bugs, it got easier to snowball ideas to think of even more. I’m excited to use these skills to become a better entrepreneur.