Assignment 5A: Identifying Local Opportunities

#1) “Gov. Ron DeSantis, Florida legislature not addressing Medicaid shortfalls, health advocates say” by Jeffrey Schweers of The Gainesville Sun

https://www.gainesville.com/news/20200130/gov-ron-desantis-florida-legislature-not-addressing-medicaid-shortfalls-health-advocates-say

·       Medicaid in Florida has shortfalls

·       Unemployed individuals cannot get healthcare from Medicaid

·       Florida Senate passed a bill expanding Medicaid a few years ago, no support in the house

·       Currently, cuts are being proposed to Medicaid in Florida, which would affect the four-million people that rely on it

·       3000 older Floridians died due to this gap

The Problems: Possible cuts to Medicaid would leave millions of people without proper healthcare.

The People: Older Floridians, the children of low-income families, disabled individuals and pregnant women

#2) “High-Priority Violations: Alachua County restaurant inspections (Jan. 20-25) by The Gainesville Sun Staff” https://www.gainesville.com/photogallery/LK/20200129/PHOTOGALLERY/129009984/PH/1

·       This article features restaurant inspections from January 20-25

·       The Florida Department of Business and Professional Regulation is responsible for these reports, many of which will disturb you

·       The Hilton University of Florida Conference Center received five high-priority violations

Raw meat was stored above ready-to-eat food, which can cause cross contamination

·       Cross contamination can cause an upset stomach, nausea, and diarrhea and other food poisoning consequences

·       Additionally, the salad-bar did not have a sneeze-guard window, which would have helped prevent the transmission of disease

·       The Samurai Japanese Steak House and Sushi Bar also stored uncooked meat above ready-to-eat food

·       These two restaurants could have caused serious illness, just imagine eating sneezed on salad

The Problems: Many restaurants in Alachua county are not upholding safe food cooking and storing standards. These violations in basic restaurant code could lead to serious illness for unsuspecting customers.

The People: The residents of Alachua county

#3) “Earthquake off Jamaica felt in Florida” by Michael Williams of WPTV

https://www.wptv.com/news/state/earthquake-off-jamaica-felt-in-florida

This brief article discusses what happened in Miami on January 28^th. An earthquake that occurred off the coast of Jamaica caused hundreds of office workers to be evacuated from high-rise buildings in Miami. Generally, Floridians have to prepare every year for hurricane season. This earthquake is a change from what Florida has experienced in the last few years. However, in this age of climate change, global warming, global cooling, or whatever you prefer to call it, it is important to be mindful that the climate of the world is constantly changing. This change is not always a good one, much like what happened in Miami. This creates a great business opportunity. If earthquakes begin to become more frequent near Miami, the city government may require new building codes, which savvy builders can take advantage of.

The Problem: Climate change is hitting Miami, and it is not a great change. Instead of facing hurricanes every year, people in Miami and Florida may have to prepare for earthquakes.

The People: Floridians, homeowners, business owners

#4) “UF Health monitors rumors of coronavirus spreading to Gainesville” by Hannah Phillips of The Independent Florida Alligator https://www.alligator.org/news/uf-health-monitors-rumors-of-coronavirus-spreading-to-gainesville/article_69a9b1a0-426c-11ea-86b2-87354e5a2a4e.html

·        The City of Wuhan, China was quarantined last week. However, five million of the residents of the city are unaccounted for as of today

·        Currently, UF Health is monitoring the situation but is not worried: “We will not be concerned until we know there’s a confirmed case.”

·        The rumor spread from a popular Chinese social media app called WeChat

·        A message on WeChat said that a UF parent flew to Wuhan over the winter break for the New Year

·        The UF International Center also identified four people who traveled from China in the last two weeks. None of them traveled specifically to Wuhan

·        As the number of infected across the world continues, people will continue to get more worried

·        For example, the Chinese Student Association has canceled its Spring Festival

·        Interviewed students stated they were happy the event was put off due to fear of spreading the virus

The Problem: There is a rumor at the University of Florida that the virus is already here. Students are worried about the possibility of catching the virus by going to class.

The People: University of Florida student, professors, Gainesville residents

#5) “Chicago woman infects husband with coronavirus, first human-to-human spread in US” By Julian Crews of WGN9 News

https://wgntv.com/2020/01/30/chicago-woman-infects-husband-with-coronavirus-first-human-to-human-spread-in-us/

There is significantly troubling news coming from Chicago. As of January 30^th, the first human-to-human spread of the Coronavirus has just occurred in the United States, specifically in Chicago. Before the event, the only people sick with the disease were people who had traveled from China to the United States. Health officials are saying currently that there is “no local emergency.” However, this could turn into a huge problem. Once a person catches the virus, they can spread the disease for 14-days until symptoms appear. Currently, there are over 10-thousand people infected with the Coronavirus.

The Problem: The Coronavirus is continuing to spread. The first human-to-human transmission of the disease has taken place in the United States.

The People: The people of Chicago, Americans, doctors, nurses.

Assignment 4A: Forming an Opportunity Belief

Brainstorming:

A dog toy that talks back, lights up

-record your voice “good boy”

Needs to have a camera and needs to be indestructible

I truly believe that an opportunity exists in regard to the creation of a “smart” talking dog toy to keep a dog company when their human is not home. This toy will have a microphone which their human may speak into through an app when they are not home. The American Society for the Prevention of Cruelty to Animals states, “One of the most common complaints of pet parents is that their dogs are disruptive or destructive when left alone” (aspca.org). Dogs can do many devious acts when they suffer from Separation Anxiety: breaking items, peeing, defecating, barking, and much more. Millions and billions of dog owners across the world have this exact problem, especially when they just bought their pets. This need has always existed. Some animal owners will lock their dogs in a cage or send the canine to daycare. I believe my invention will save animal owners money and time spent disciplining their pets.

#1 Middle-aged woman with three children, a dog, and a full-time job

·       Has your dog ever suffered from Separation Anxiety?

o   Yes. Many times. He tore up the carpet, destroyed two pillows, and peed on the couch one time and pooped on my favorite chair another time.

·       When did you first notice this destructive anxiety and how often does it occur?

o   Jake (the dog) started this behavior when we first got him and still continues it to this day. He is usually detrimental to the cleanliness of my home when I cannot get home until later on.

·       What do you do now to prevent separation anxiety? Are you fine with this solution?

o   I make sure that I am always home at the same time every day. I also give him snacks when I get home to reward him for waiting. I am somewhat satisfied with the outcome. However, it only takes one long day at the office to set him (the dog) off.

·       How would you feel using the toy I developed to help stop your problem?

o   I really like the idea of a toy that has a microphone and a camera on it. It would be wonderful to be able to stick a few of these toys around the house so I can always see what Jake is doing and correct him when he exhibits bad behavior.

Reflection: Many people seem to have this dilemma. However, they seem to be content with sweeping it over the rug.

#2 Male, Mid-Twenties

·       Has your dog ever suffered from Separation Anxiety?

o   Yes. Especially when he was younger. However, the damage dealt was not that costly whenever the “event” happened.

·       When did you first notice this destructive anxiety and how often does it occur?

o   It first happened within the first week I had him at my apartment. He had this scared look on his face the first day I was home with him, which was a Sunday. When I left for work on Monday he peed on the floor and messed with my pillows.

o   This does not seem to happen often anymore, but it was a minor problem when he was 1-2 years old.

·       What do you do now to prevent separation anxiety? Are you fine with this solution?

o   Now, I give him a treat before I leave the house. It seems he is used to his home and does not want to destroy it anymore. I don’t really know.

·       How would you feel using the toy I developed to help stop your problem?

o   I would definitely buy it. It’s great for security, and I would love to be able to check in on the little guy when I’m at work. Not sure if would stop him from peeing on my floor or tearing up a pillow.

Reflection: It seems that this problem is one that goes away with age. I will ask another person these same questions to see if this is true.

#3 Older Man

·       Has your dog ever suffered from Separation Anxiety?

o   Oh, Yes. This was many years ago though.

·       When did you first notice this destructive anxiety and how often does it occur?

o   It first happened when I just got him from the pound. I was shopping at Publix. I was only gone for an hour, and when I got back, he wreaked part of the rug on my stairs. This does not happen anymore.

·       What do you do now to prevent separation anxiety? Are you fine with this solution?

o   I am careful not to leave him alone too long anymore, and I take him with me as much as I can when I leave the home. I’m content with this solution.

·       How would you feel using the toy I developed to help stop your problem?

o   I don’t know. I am not that good with technology and would probably end up throwing it out due to frustration.

Reflection: This seems to be a trend. Older dogs are typically more mature. Thus, this leads to a decrease in emotional outbursts when left alone. Also, older people may have difficulty using this device.

Summary:

I truly believe there is still an opportunity here to make a lot of money with this product. I will just need to do further research to understand who my customer base is. It seems older people will have trouble with this device. This is ok because this device is made mostly for people who are out working and are more active than older individuals. I believe that my new opportunity is more accurate than when I started. Going around and talking to people of different demographics really helped me understand what I need to do to make the most out of this new idea. I think entrepreneurs should listen to customer feedback to an extent. However, it is important to know that if a majority of the customers are happy with the product while only a small minority are unhappy, then you should stay firm with your original idea.

Assignment 3A: Your Entrepreneurship Story

My entrepreneurship story starts last summer. I was applying for finance internships across the country, and I found a great position at Rosenthal Capital Management. I interviewed at the office and was given a position as an intern. The owner, Bret Rosenthal, started his company in 2005 after leaving Wachovia. Bret decided that after twenty years on Wall-Street and working long hours every week that he needed a new start. He also realized that the top 20% of his clients accounted for 80% of his earnings. Before transitioning, he emailed his bottom 80% of clients and told them that they would need to find a new broker. Now, Bret’s head office is located in Jupiter, Florida and is less than a tenth of a mile from the beach. Currently, Bret is able to wake up, take a walk on the beach, and come back home in time to get ready for the market open. During my time as an intern, I talked to Bret a lot about his business and he said it was not easy. He said, “I enjoy being my own boss. However, there is a tremendous amount of pressure knowing that all it takes is one bad decision to severely affect my way of living.” As the weeks went on, I watched and listened as Bret traded the stock market, talked to happy and angry clients, and prepared for the next day with considerable research. At the end of the internship, I came to the conclusion that I needed more knowledge and experience before I started my own business, which is why I decided to take ENT3003. I found it quite funny when during one of the lectures that the 80-20 rule was discussed, and I cannot wait to learn more about the skills needed to become a successful entrepreneur.

Assignment 2A-Bug List

Assignment 2A-Bug List

1. When I do not receive the food I ordered at a fast-food restaurant.                                      Why it exists: Fast-food workers have to be quick when making orders. The person working as the consolidator may get overwhelmed by the many different orders given to them, which leads to mistakes.

2. Driving at 5PM because of the bumper to bumper traffic                                                     Why it exists: Five o’clock is the time of day when most Americans leave work. As a result, traffic at five in the afternoon is one of the worst times to be out driving.

3. The lack of parking on campus.

  Why it exists: Due to the large student body at UF, there is never going to be enough parking space for students. Also, many apartment buildings take up much-needed space that could be used for more parking garages.

4. My inability to turn a profit on my Robinhood account.                                                     Why it exists: I love to invest in extremely dangerous option contracts in order to possibly receive high returns. However, these options usually expire worthless because of the lack of volume for the stocks I pick. Additionally, I tend to trust my gut feeling at the time, which is generally wrong.

5. Having to take Business Finance and get at least a B.                                                         Why it exists: The University of Florida mandates that I take Business Finance and receive at least a B letter grade in order to continue being a finance major.

6. Price surging on Uber near an airport                                                                                  Why it exists: Since so many people just got off their flight and may not have access to a car for travel, Uber decides that they can increase their regular prices due to the law of supply and demand. There is much demand for transportation but not enough supply of Uber drivers.

7. Begging Hobos that follow you in India.                                                                            Why it exists: In India, Hobos will follow you even when you tell them not to. They do this because they generally have little or no money, shelter, or food. The extreme poverty of this nature is caused by mental illness, lack of jobs, and many other conditions.

8. People looking down at their phones while they are driving their cars.                             Why it exists: Many people have no self-control when it comes to their phones. A person with a cell-phone addiction may have trouble sleeping, which impacts their basic thinking skills that would usually prevent them from picking up their phones while they are driving.

9. The smell of my apartment                                                                                                  Why it exists: My apartment is over forty years old. As a result of weathering over the years and horrible upkeep, the building has deteriorated. Mold is a problem in the complex, which is likely one of the reasons for the smell.

10. My inability to land an internship at Morgan Stanley as an Investment banker.               Why it exists: My GPA is not as competitive as required by Morgan Stanley. Also, I am not from a target school, and I am not in the Master of Science in Finance program at the University of Florida. Lastly, I was told I looked tired and had “low energy” at the interview.

11. HR People that take a long time to make their final decision                                            Why it exists: Being a member of the HR department at any company requires one to do a tremendous amount of work. The process of selecting a candidate for any given position takes into account many details and interviews and candidates, leading to a long wait time.

12. Accelerated Climate change                                                                                               Why it exists: A combination of human actions such as the burning of fossil fuels through driving a car, heating a home, or cooking on a stove and also natural changes in the Earth’s climate over time.

13. Pollution of our ocean, lakes, and air                                                                                 Why it exists: Many developed nations like the United States and developing nations like India and China pollute the air and water through the burning of fossil fuels, the dumping of waste into rivers, and ditching of trash into the ocean.

14. When Walmart is crowded in Gainesville at the beginning of the semester                      Why it exists: Many students are coming back from their breaks and usually need food, or notebooks, or pens, or whatever supplies that are available at Walmart.

15. Advertisements on YouTube videos                                                                                   Why it exists: In order to generate revenue from published videos, YouTube will place advertisements at the beginning and end of any given video.

16. Paid Ad-ons for video games                                                                                             Why it exists: To get more revenue from what used to be a one-time purchase, some video game  companies have made it harder to level up (which can be bought with money) and created new content in the form of more maps for additional money.

17. Requiring students to purchase a code to have access to class material                           Why it exists: To make more money for large book companies.

18. The constant increase of rent in Gainesville.                                                                    Why it exists: The companies that own these apartments in Gainesville know that there is a large demand to live off-campus due to the horrific state of the dorms. Thus, they can continue to increase prices because of this factor.

19. The increasing amount of advertisements on websites                                                     Why it exists: Website owners can make serious revenue through the significant number of ads they allow on their sites.

20. Taxes on my income and trades I make in the stock market                                             Why it exists: Taxes pay for roads, transportation, schools, and much more. Without taxes, there would be no functioning U.S. government.

Reflection: I found it quite difficult in the beginning to come up with all of the examples of things that bug me. However, once I drank a cup of coffee, talked to my dad about things that I was annoyed with, and began going through the process of choosing the items, then it got extremely easy. To make it simpler, I decided to use the trick that was used by the writer of the Bug List example given by the professor.  All in all, it took two hours to get my list completed.

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