Elevator Pitch

https://youtu.be/Z6kdsUPnh0M

Testing the Hypothesis part 2

Who: Are there certain people or certain businesses that, although they share a lot in common with the others in your opportunity, nevertheless fall outside the boundary? Why?

1. I drive a car so for the most part I don’t need umbrellas.

2. I ride the bus so my walks are just from wherever the bus stops are to my classes so I don’t need umbrellas most of the time.

3. I am in pace so I have all online classes. I barely leave my apartment.

4. I ride my scooter to class every day, even if it does rain I don’t think there is anything I can do. I do bring my rain jacket wherever I go though.

5. I don’t live in Gainesville so I would get no use out of this idea. 

What: At what point does the need you identified differ from another need? (Is thirst the same as hunger? Or is the desire to appear fashionable the same as the desire to be loved by others?)

1. Being rained on is not really similar to another need. Its pretty unique.

2. I don’t think there is any need like an umbrella, maybe a rain jacket or something else that can keep you dry.

3. I think the need for an umbrella is pretty unique. I guess there could be a need for more accurate weather reporting in order to ensure that people know whether or not they will need them.

4. The need for being better prepared for situations is really what it comes down to. Most people are just lazy and unprepared.

5. This need is similar to the need for more accurate weather predictions. If I lived in Gainesville I would know to bring an umbrella if I thought it was going to rain.

Why: Is the underlying cause of the outsiders' need different than people who are inside the boundary?

1. No I don’t think so my circumstances are just different.

2. No the need to stay dry is common across everyone.

3. I think the underlying cause is probably more geared towards the inside people because they are the ones that have to walk and get wet.

4. The underlying cause is the same.

5. I don’t honestly know if there is a difference.

Inside the boundary	Outside the boundary
Who is In: People that walk around campus	Who is Not: People who don’t walk
What the Need Is: To stay dry	What the Need Is Not: to stay dry
Why the Need Exists: IT rains	Alternative Explanations: Thy are inside and aren’t affected

Solving the Problem

The problem: The rain in Gainesville is unpredictable

The opportunity: Students need a way to stay dry walking to wherever they are going on campus

The solution:  Vending machine like devices with umbrellas that you can take after swiping your Gator 1. (they would use flex bucks) Each person that used an umbrella would be charged an undetermined a mount of money to take the umbrella and then when they returned the umbrella to another basket some of the money would be credited back to the users account. The amount charged would be the cost of the umbrella so if someone does take it they are basically just paying for it.

Testing the Hypothesis Part 1

1.)    My campus umbrella opportunity I discussed in my forming an opportunity belief post.

2.)    Students at UF do not like carrying umbrellas because they are burdensome. It rains a lot in Florida so there needs to be a way that students can have easy access to umbrellas on campus.

Who: UF students

What: Carrying around an umbrella is a burden. Students should still have access to them

Why: How to get umbrellas all over campus and make money and make sure they are not being stolen

3.)    Testing the who: Everyone who I have talked to about this need has said it is a good idea. They all agree that when you need an umbrella the most is when you find yourself without one.

Testing the what: This question really made me take a different look at my idea. On the days where its sunny, no one is going to be using my umbrellas. Is it even worth it if it is going to be sunny all the time?

Testing the why: Most people have this need in the same way. This idea serves one very specific purpose which might cause it to be unsuccessful. I still believe that the need warrants a solution though.

4.)    All 5 interviewees had very similar ideas. I chose to do my interviews a little differently and bring up the flaws I had perceived in my own idea and asked them what they thought about them. In terms of having idle inventory when it is not raining the overall response was just to make sure that I was making enough money when it did rain so that the business could be sustained. In terms of theft one idea was to put a tracker in every umbrella but this would be extremely expensive. One of the people I interviewed brought up the point that the whole reason this idea exists is that people hate carrying around umbrellas. So as long as the pickup and drop off locations were accessible then people would be less likely to take them because they never wanted to carry one around in the first place. Overall everyone thought it was a good idea and could see themselves getting a good use out of it.

5.)    After interviewing people I would say that I did not previously know that my idea could benefit as many people as I thought it would. Now I could actually see this coming to fruition.

4 Opportunities

1.       E-Cigarettes could be banned by the FDA which means people will need a nicotine fix somehow.

a. Online more specifically the WSJ

b. Many people are addicted to nicotine products, if they were to ban e-cigarettes then there would be an opportunity to market different types of nicotine products

c. the people who currently use nicotine products everyday are the customers

d. This opportunity is easy to exploit, people will not stop buying nicotine products current alternatives just have to be marketed better

e. In my personal experience I know many people who use e-cigarettes every day and I know that if the FDA were to ban these items they would just look for alternatives to get their fix.

2.       New regulations aimed at cutting diesel fuel may cause oil prices to rise

a. Online - Business Insider

b. If oil prices indeed rise to this level then the average person will be forced to consider alternative modes of transportation and also energy.

c. The customer for this will be normal people who can’t afford skyrocketing oil prices.

d. The opportunity is hard to exploit unless you are already in the energy business

e. I formed my belief that this opportunity existed because I am an avid supporter of environmental regulations. I believe that this regulation is a huge step forward in the right direction and shows that there are still ways companies can be profitable and successful even with new regulations.

3.       Baby Boomers are not retiring

a. Online - WSJ

b. With baby boomers still in the work force and retiring late this means many of them will live less time retired and will have to go into assisted care more quickly.

c. Baby Boomers

d. This opportunity is hard to exploit if you are an outsider but if you already have a business that is in the hospitality industry then you can exploit this opportunity.

e. I know for a fact I am not the only person that has seen this opportunity, a man I worked for in high school sold his home to start a retirement home because he saw this trend. He is extremely successful now and his business will only grow as the years go on.

4.       Global Warming is causing tides to rise

a. Online - Bloomberg

b. This suggests that property that is inland could one day become beachfront real estate.

c. People who want to live beachfront especially Floridians

d. This opportunity is easy to exploit if you already live inland and on property where estimates suggest water levels might increase to, this also allows for investment in long term real estate.

e. Coming from a beach town on the east coast of Florida this is an everyday reality to me that my house might not be there. This is not necessarily a bad thing however because instead of being washed away one day my house may be right on the water.

5 opportunities

A new app is helping the UF Marching Band save $30,000.

https://www.alligator.org/news/a-new-app-is-helping-the-uf-marching-band-save/article_f1bd8d88-b6ee-11e8-9a6b-dfb8700f0235.html

Description - The UF marching band has been using an app to eliminate printing out marching routines. The app takes latitude and longitude coordinates and helps students with where they’re supposed to march. This is also saving the marching band over $30000 a year.

The problem – spending $30000 and wasting paper

Who has – The marching band

Feleipe Franks shouldn’t be the Florida Gators' starting quarterback

 

https://www.alligator.org/sports/feleipe-franks-shouldn-t-be-the-florida-gators-starting-quarterback/article_39179a6a-b7e5-11e8-aaf3-0308b4aead42.html

Description – Felipe Franks played a terrible game against Kentucky’s football team and lost to them for the first time in 31 years. His passing game was terrible he had multiple interceptions and he ran very badly. Last weekend he played well but that was against a very bad team. We may need to reconsider who our starting quarterback is.

The problem – Felipe Franks is bad at football

Who has – The Florida Gator football team

Bakery bounces back after ex-employee shoots owner

https://www.alligator.org/news/bakery-bounces-back-after-ex-employee-shoots-owner/article_690446c2-b7d3-11e8-b853-7fa1c5a04866.html

Description – A bakery in Gainesville was unsure if business would be effected by a recent tragedy. An ex-employee of the bakery came back to the bakery and shot the owner in the left arm. The man was a disgruntled former employee Morales Serrano who was angry at his boss.

The problem – He got shot

Who has – The bakery owner

SG may fund Library West 24/7 by the end of September

https://www.alligator.org/news/sg-may-fund-library-west-by-the-end-of-september/article_fe4d8bd6-b638-11e8-af7d-8bc4858f09d1.html

Description – Library West is going to be open 24/7 starting soon but what a lot of people don’t realize is that the funds allocated to keeping library west open for this long are coming from an emergency fund. The funds that are being used for library west are supposed to be for 1 time large SG purchases.

The problem – Misuse of funds

Who has – Student body

UF RecSports cancels intramural softball for the fall semester

https://www.alligator.org/news/uf-recsports-cancels-intramural-softball-for-the-fall-semester/article_c9156168-b7ba-11e8-a543-fb32105a095a.html

Description – The Fall intramural softball league has been cancelled for the first time in 24 years. It cost $12000 to do every year and this was the main reason for the cancellation. Apparently the sport was not attracting enough players to keep it around. It could be back next year pending an evaluation.

The problem – Cutting IM league

Who has – Student body

Forming an Opportunity Belief

1.       Living in Florida the weather can be extremely unpredictable. One minute its Sunny and 100 degrees and the next its pouring down rain. This can make staying prepared difficult.

2.       No one wants to carry around an umbrella all day and have it not rain. Imagine if there was a service that provided umbrellas when needed so that you could pick one up at one location and then drop it off somewhere else. Almost like bike sharing but for umbrellas. All students on this campus have a need for this. This need is not new, Florida weather has been this way for a long time.

3.       Prototypical customer would be all UF students.

4.       1. What is the exact nature of the need? When it rains I want to stay dry

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes? I don’t realize I have the need until its too late

How long have they had the need? I’ve had it since I came to UF. I lived in New Jersey before and the weather is much more predictable.

When did they first become aware of their need? My first week at UF it rained everyday. That’s when  I realized I had to start carrying either a rain jacket or an umbrella with me at all times.

How are they currently addressing their need? When I pack my umbrella or jacket it makes walking easier but if I forget them then I just have wait or walk home in the rain.

How satisfied are they with this solution? Not very satisfied.

2. What is the exact nature of the need? I hate carrying around a rain jacket but I hate getting wet.

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes? I become aware of the need when I am sitting in class and I hear it start to pour outside.

How long have they had the need? I’ve had it since forever. I grew up in south Florida where it rains everyday in the afternoon like clockwork. I’ve notice that Gainesville rain literally comes out of nowhere.

When did they first become aware of their need? I guess when I first got to UF.

How are they currently addressing their need? I ride the bus everywhere so that helps me stay dry.

How satisfied are they with this solution? Decently satisfied.

3. What is the exact nature of the need? I ride my scooter everywhere and when it rains there’s nothing I can do

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes? I become aware of the need when I see the storm clouds.

How long have they had the need? Since I got a scooter I stopped taking the bus.

When did they first become aware of their need? My first scoot ride to class I left dry and came back and I swear it was a hurricane.

How are they currently addressing their need? I just have to go home in the rain. The umbrella idea really wouldn’t help me.

How satisfied are they with this solution? Satisfied

5.       While I thought this was a great idea that would help everyone my interviews revealed some flaws in my idea. One potential customer brought up the fact that it would be very easy to steal the umbrellas. It was clear that carrying around a rain jacket or an umbrella is inconvenient to everybody. So I do still believe that this service would be useful to most UF students.

6.

7. I still believe the opportunity is there and I believe that a good amount of the student population can get use out of this.

Yes, I have a better understanding of how the opportunity would work. When I first came in I thought that everyone would need it but some people do not.

They must keep their idea intact but they must accept new ideas and be able to learn from their peers and customers.

Entrepreneurial Story

When I was younger I was somewhat of an entrepreneur. When I was 12 years old I opened up my very own lemonade stand. Florida in the summer is very hot so people always want lemonade. Also being a cute little kid they are more likely to give you money. My lemonade stand was a huge success and I made over $150 which is a lot for a 12 year old. I would consider myself and entrepreneur and am definitely interested in potentially starting my own business one day.

That leads me to why I took this class, I wanted to learn about entrepreneurship and gain some valuable skills. Entrepreneurship is an important facet of business. Every business ever was started by an entrepreneur. The skills I hope to learn from this class are very transferable to the business world. As I pursue a career in finance I hope to one day be able to apply my entrepreneurial skills.

Bugs List

1.       People not cleaning up the table after they eat on it.

There are not trash cans close enough to the table so people just leave their mess on the table. In order to solve this problem we must be able to access trash cans more easily.

2.       People with bad breath.

People have bad breath because they do not take care of their oral hygiene. People do not use mouth wash.

3.       When my shoes are untied.

My shoes become untied because I have worn them for too long. I must retie them more frequently

4.       When my headphones get caught on a door handle.

My headphones get caught on the door handle because they move around too much.

5.       Tangled Headphones in my pocket

My headphones get tangled in my pocket because I don’t take good care of putting them in there in the first place.

6.       When my roommate steals my clothes.

My roommate steals my clothes because I have a better sense of style than him.

7.       When my roommate doesn’t clean up after himself

My roommate is a messy unorganized person and isn’t used to living with someone.

8.       People who breath out of their mouths

People breath out of their mouths because their noses are congested.

9.       When people leave the toilet seat up

People don’t consider others when making decisions but in reality it would save someone else time if they picked up the seat after they used the restroom.

10.   When cars slam on their brakes

Cars slam on their brakes because they aren’t paying attention to the road and then when they look up they realize they need to stop.

11.   When I can’t park my scooter

Parking on campus is absolute chaos. There are not enough spaces on campus and this creates a problem when thousands of students are trying to park.

12.   When music is too loud

Music is too loud because people aren’t very considerate of others and only think of themselves when making decisions.

13.   When my phone dies

My phone dies because I did not charge my phone adequately the night before.

14.   When I can’t sleep

I can’t sleep because deep depression and anxiety issues cause night terrors and that makes me not want to sleep.

15.   When I’m tired

I’m tired because I can’t sleep because of the aforementioned problem.

16.   When my clothes are wrinkled

My clothes are wrinkled because my dryer does not work very well.

17.   When my laundry doesn’t dry all the way

My dryer does not work very well so this causes my clothes to still be wet.

18.   Slow walkers

People walk too slow because they are not motivated in life and just meander around campus.

19.   When my friends don’t invite me to stuff

My friends are mean and sometimes they don’t include me in their plans.

20.   When my car won’t start

I do not take proper care of my car so therefore it does not start sometimes.

Coming up with things that bugged me was honestly not very hard. I was having a bad day when I decided to start this assignment so there were already a lot of things bugging me that day. I think I am a very OCD person so if things are not a certain way I get very irritated. I did find that listing them out was a nice way to put them out into the world. Once I was able to look at what was actually bothering me it helped me sit down and think about how I might be able to fix some of them.