6A – Identifying Opportunities in Economic & Regulatory Trends

Economic Opportunities :

Fannie and Freddy Mac Shrinking Footprint with IPO

https://www.foxbusiness.com/economy/trump-administration-plans-multi-billion-offering-of-fannie-mae-freddie-mac

• What leads me to believe there is opportunity is the administration is set on reducing government sponsored enterprises’ need of government dollars. They are trying to cut down the dependence and make these companies more accountable by increasing their lending standards. The though is when you are dealing with investors money you will be more responsible.
• When the IPO is offered, I believe there will be a spike in the stock market giving potential customers a good rate of return
• Potential customers of this IOP are investors, hedge funds, pension boards etc.  
• I believe this opportunity would be relatively easy to take advantage of.
• I enjoy real estate. I’m currently deciding on if I should purchase a home. I have a vested interest on how this plays out. If they go public and tighten their guidelines, they will be writing higher quality loans.

Home-buyer Opportunity

https://www.foxbusiness.com/markets/us-pending-home-sales-fell-1-5-in-april

• What makes me think there is an opportunity is home prices are on the rise causing buying to slow down. If this trend continues there will be a back log of inventory which will result in home prices decreasing. If interest rates stay low that is the perfect storm for a home buyer.
• I believe customer for this opportunity will be first time home buyers and investors.
• The opportunity can be potentially difficult to exploit if you don’t have your financial ducks in order.
• Like I said before I’m really interested in real estate. This could be a great opportunity that even I could take advantage of.

Regulatory Opportunities :

Antitrust Probe on Google Subsidiary

https://www.cnbc.com/2019/05/31/doj-preparing-antitrust-probe-of-google---dow-jones.html

• Google currently holds 70% of the search engine marketplace. In the event the government decides to break apart google this leave an opportunity for new search engines to arise.
• I would say customer seizing this opportunity would be new tech companies trying to get a slice of the pie.
• This would be a very difficult opportunity to exploit. It will take time for consumers to build trust with these new companies.
• I saw this opportunity because with the current national conversation, are these tech companies trustworthy? Are they too big and intrusive? There is an opportunity to rectify some of the wrongs they have committed. In the same note I don’t believe the government should interfere to much in private business.

Tariffs will Impact your Wallet

https://www.cnbc.com/2019/05/31/costco-is-looking-at-alternative-sourcing-and-price-hikes-as-tariffs-loom.html

• With the administrations recent institution of tariffs companies are bracing for price hikes. Companies like Costco are looking to alternative markets which could emerge new purchasing sources. Giving companies and other countries the opportunity to break into our market.
• Customer would be new businesses and countries that can reliably fulfill these stores such as Costco’s needs.
• This will be a very hard opportunity to exploit.
• I thought this was an opportunity because regardless of the tariffs there is still a need that has to be satisfied. These companies will need to learn to be resourceful depending on how long these tariffs will be in place.

5A - Identifying Local Opportunities

Brightline partners with MSC cruises for link with Miami port

https://www.palmbeachpost.com/entertainmentlife/20190531/brightline-partners-with-msc-cruises-for-link-with-miami-port

Brightline seized an opportunity to better the travailing experience.. They have now partnered with MSC Cruise to help shuttle customer to the port of Miami. The package includes round trip travel on the Brightline, parking at a Brightline station and they insure your baggage gets to your state room. The cruisers were the ones in need of this innovative alternate travel option. Driving to the port of Miami is a nightmare.

Boca Raton- based ADT wins $4 million verdict against rival security firm

https://www.palmbeachpost.com/news/20190530/boca-raton-based-adt-wins-4-million-verdict-against-rival-security-firm

In this story a Utah based security company was targeting and tricking current ADT clients into signing competing contracts. These scammers would act like they were part of ADT. Duping people who trusted the ADT name. The courts ruled in ADT’s favor and awarded them $4 million in damages. ADT had the problem when a competing company posed as them to steal customers.

Why the World Surf League canceled Kelly Slater’s Palm Beach County world-class wave pool

https://www.palmbeachpost.com/news/20190530/why-world-surf-league-canceled-kelly-slaters-palm-beach-county-world-class-wave-pool

The world surfing league was set to build a state of the are wave pool in western palm beach county. Unfortunately, due to the high-water table and complicated nature of the project they had to bring the project to an end. They also claim unforeseen challenges helped make this decision. The hope was to televise surfing competitions and be a world class training facility for surfers. The world surfing league now has the issue. They purchased land they can no longer develop.

Local restaurants step up awareness after hepatitis A cases

https://www.palmbeachpost.com/entertainmentlife/20190524/local-restaurants-step-up-awareness-after-hepatitis-cases

With the rise in Hepatitis A cases in Palm Beach, Martin and St. Luice County restaurants are retraining staff on proper cleanliness practices. The most effective rule is to wash your hands every 30 min. Restaurants are taking this practice to heart. Washing hands, using gloves and drying hands with paper towels seem to be the best combination thus far from spreading hepatitis A. The in need are the restaurant goers. These restaurants are doing everything they can to keep the public safe.

Catch the Wave of Hope raises awareness, money to fight human sex trafficking at event in West Palm Beach

https://www.tcpalm.com/story/specialty-publications/jupiter-courier/2019/04/11/state-attorney-sex-trafficking-victim-speak-west-palm-beach-event-raise-money-catch-wave-hope/3437801002/

At it’s inaugural breakfast Catch the Wave of Hope raised thousands of dollars to help victims of sex trafficking. A spotlight was pointed at Palm Beach County after the recent massage polar bust resulting in hundreds of arrests. These moneys will go to build a safe place for child victims of sex trafficking. It’s very admirable what this organization is doing for these victims. 

4A- Forming an Opportunity Belief

       I believe there must be a way to cut down on the constant barrage of scam calls received on cell phones.

       Scam calls have been around for years. Now with advances in technology it is significantly cheaper for criminal to flood our devises in the hopes of getting someone to fall for their scam. Statistically the rates of these calls increase each year especially around tax season. Current ways to combat this issue are to register on The Do Not Call List or download a spam blocker application. These solutions are not significantly effective. I once had a scammer taunt me. Telling me to report the number, they have over a million and nothing will come of it. I would just get another call from another number.  This must be stopped.

 My prototypical customer could be anyone with a cellular devise. 

        Interviews

       David Rails  - Government professional, middle aged male.

1.       Do you receive scam calls on your cellular device?

a.       Absolutely and on a daily basis.

2.       How long have you been receiving scam calls?

a.       I’d have to say I’ve always had spam calls. Originally on my landline. I noticed an uptick of calls on my cellphone in the past five years or so.

3.       How are you currently trying to combat these callers?

a.       I tried ignoring them. I tried asking them to take me off their list. I eventually downloaded an app from AT&T. It’s helping but lot still come though.

4.       Do you believe there is a need waiting to be met when it comes to blocking these types of calls?

a.       Absolutely. I’m not sure what can be done but if someone creates another way to stop it, I’m game.

Gloria Jones – Tourist from Kentucky, middle aged female.

1.       Do you receive scam calls on your cellular device?

a.       (let out a big sigh) Yes!

2.       How long have you been receiving scam calls?

a.       Years and years. I get about fifteen calls a day. No exaggeration.

3.       How are you currently trying to combat these callers?

a.       What can you do? I registered on the do not call list and got even more calls. I try to ignore them. I used to get upset now when I get bored I try to mess with them. Tell them I work for the police department. Some will hang up right away, others go off on me.

4.       Do you believe there is a need waiting to be met when it comes to blocking these types of calls?

a.       Well yeah! Something needs to give. The phone companies need to do something. At least I have and unlimited plan with Sprint and don’t have to pay for the calls. That used to irk me.

Kirsten Applegate- Business owner, mid to late twenties.

1.       Do you receive scam calls on your cellular device?

a.       Yes I do. Who doesn’t?

2.       How long have you been receiving scam calls?

a.       Approximately the past three to five years.

3.       How are you currently trying to combat these callers?

a.       I answer the call. When I realize it’s a scam I block the number. They are getting harder to detect because they look like local cell numbers. I own a business and don’t what to block a potential customer. It not just the 1-800 numbers anymore.

4.       Do you believe there is a need waiting to be met when it comes to blocking these types of calls?

a.       Yes, they are a thorn in my side. I’m always getting someone that wants to fix my credit card debt or sell me a medical brace. I can tell when the call is a scam. Unfortunately, a lot of elderly people are susceptible to these scams. The cell phone companies or congress needs to find a way to stop these scammers.

         I’ve learned that these scam calls are a widespread issue that affect a variety of people. David educated me on the service his cellphone provider offers for these types of calls. I luckily met Gloria from Kentucky at a Starbucks. She gets bombarded with calls. She even received one while I was interviewing her.  It makes me think the issue isn’t regional, it’s across the country. Kirsten brought up a great point. Many elderly people fall victim to these calls. I wonder if an angle can be worked that scammers are targeting a vulnerable class of people?

         After conducting these interviewees, I believe more than ever there is an unmet need in combating scam calls on cell phones. My view has broadened after my interviewees brought up some valid points. I believe entrepreneurs should be able to adapt based on customer feedback. Keep in mind only you know your product and how you want it to make an impact on the world. Others may not be able to grasp the big picture.  

3A- Your Entrepreneurship Story

I have been surrounded by entrepreneurs my whole life. My grandparents came here from Italy in 1920. They successfully opened multiple businesses: food market, restaurant, ice plant & home heating oil, etc. It took hard work to make these businesses a success and put food on the table for the family. They sacrificed and worked to achieve that “American Dream”. I truly admire their strength. If two immigrants can come here and become successful, anyone can. Nothing can hold you back but yourself.

I signed up for this class because it is part of my major.  I’m excited to learn how to recognize problems and come up with solutions. The class is different than I thought it would be and I’m up for the challenge.

2A - Bug List

1. Filling out new patient paperwork.

Why it exists: Each doctor needs to know your medical history. There are so many disclaimer forms to sign which means they are covering themselves from a lawsuit. It would be great if there was just a database for the provider to access the information.



2. Most people don’t know how to use the new double turn lane on Old Dixie Highway and Toney Penna Road. They turn on the solid red arrow. They use the incorrect lanes to make turns which can result in accidents.

Why it exists: I would say the problem exists because people are too impatient to follow the rules of the road in that intersection. The signs state what do, but people just ignore them.



3. Receiving scam/solicitation call on my cell phone.

Why it exists: Since landlines have become obsolete scammers have no other choice than to call cell phones.



4. When people hold their eating utensils incorrectly it makes me itchy inside.

Why it exists: I believe some people weren’t shown the proper way to hold utensils. Or the proper way was uncomfortable, and they conformed whatever it is that they are currently doing.



5. People who bring their dog to the dinner table and have them sit on their lap resulting in the dog sneaking food off the plate.

Why it exists: I believe this situation exists because of a deep rooted codependency issue.



6. Sometimes removing mascara can be a chore.

Why it exists: Some cleaners don’t fully dissolve the mascara resulting in racoon eyes when you wake up.



7. Mosquito bites! Not only are they a nuisance but they can be dangerous.

Why it exists: Mosquitoes are living creatures and need to suck blood to survive.



8. People who don’t fully respond to emails. For example, only answer one of the three questions.

Why it exists: I think in the busy world we live in people only skim their emails. Paying attention to the opening and the closing of the email. Alternately they can be lazy or have a very short memory span.



9. Being charged extra fees (venue, convenience, etc) when purchasing concert tickets.

Why it exists: This must exist because venues want to make a profit and they don’t receive that much from the face value of the ticket.



10. My kitchen because it gets hotter than Hades.

Why it exists: The townhouse in which I reside has a poor design for the kitchen. No actual ventilation.



11. Taking time to find the perfect produce, then it rots the next day.

Why it exists: Produce is now picked well ahead of time and takes a while to get to the store shelf. Sometimes produce is treated to make it look more enticing. When in actuality you have no clue the age of the produce.



12. When a coworker lies about doing work.

Why it exists: People lie for many reasons, but I believe this coworker was covering up for her poor time management and was rushing at the end to get a task completed.



13. When car service workers pad the bill with extra services.

Why it exists: Service workers make a living up-selling different services. It’s the nature of the position.



14. People parking in my assigned spot.

Why it exists: When the community was designed, they didn’t account for guest parking. Therefore, people park wherever they can.



15. When people try to “one up” or hijack the conversation and make it about themselves.

Why it exists: This exists because some people need to brag to make themselves feel better. They should work on why they feel the need to do so and fix the real problem.



16. When popcorn kernels get stuck in between your teeth.

Why it exists: The popcorn kernel shell is very thin and can lodge between teeth when chewing.



17. Rushing to the doctor’s office just to sit there and wait.

Why it exists: Doctors tend to run over the scheduled time with patients. This then causes a backflow in the waiting room.



18. People who purposely do a task incorrectly at work repeatedly.

Why it exists: Nine times out of ten this happens because the person doesn’t want to do said task. They think if they mess it up enough you will ask someone else to do it instead of them. Yes, one of these people confirmed this justification.



19. People who feel the need to comment and put their two cents in when they don’t know/ understand the situation.

Why it exists: There are people out there who genuinely want to help. There are others who think they are completely right and what they say goes.



20. People who don’t stand up for themselves in all settings.

Why it exists: Some people are afraid of confrontation. Some people were taught not to rock the boat. There is a polite way to take charge and say that you refuse to be mistreated.



I found this assignment to be quite difficult. It took me a few days to think of each situation and their why factor. In general, I try not to hone in on the negative around me because if I did I would probably go insane. I noticed similar patterns start to emerge in my bugs. While I don’t think there are many fixes to the bugs I laid out, I believe some are fixable. The fixes are worth exploring.

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This is a test to see how this works.