8A - Solving The Problem

Assignment 8A - Solving the Problem

The opportunity I am pursuing is homelessness in Key West. The tourist-ridden island is very expensive to live in. Because of this, there is a large presence of homeless people in the city.

• My first product would similar to what is being done in Seattle. A program called Tiny Houses (https://lihi.org/tiny-houses/) is going on in Seattle that provides very small (150 sq. ft.) houses for homeless people to live in. They obviously would be better for homeless people than tents, and amenities (laundry rooms, showers, restroom facilities) would be provided in the neighborhoods for these houses. I would create small neighborhoods like this, but in Key West.
• An obvious solution would be to increase affordable housing opportunities for people on the island. However, the lack of space on the 2x1 island makes Tiny Houses a more viable option. 
• Also, when I lived in Key West there was a big push for paper straws, to ridden of the pollution and harm plastic straws cause to the local wildlife. Key West deals with many people and pollution occurs. Perhaps people living in these Tiny Houses can assist in cleaning up the island through work programs. 

I feel that this product is a viable option for helping the homeless people in Key West. The chances of it being approved by the local government are slim to none without the public taking action. However, Key West is a world renowned vacation spot where many upper class people reside and/or visit. Snowbirds are people who own property in Key West that migrate down to the island during the winter to bask in the tropical sun. Whilst I attended high school in Key West, there were many examples of wealthy individuals providing funding for programs for clubs at the school that did have funding from the state. Perhaps if word is spread, someone would be philanthropic enough to help fund this product for the bettering of Key West.

7A - Testing the Hypothesis, Part 1

Testing the Hypothesis Part 1

Homeless in Key West, Florida

Opportunity:

• There is a large amount of homeless people in Key West who are unable to afford housing because of the high cost of real estate in Key West.

• The who: People who are unable to afford housing in Key West.
• The what: These people become homeless and cannot bounce back.
• The why: The island has a very limited amount of real estate, causing real estate to be very expensive. 

•  Testing the who: Key West is a tourist driven tropical town and is known around the world. Around 25,000 people live on the 2 x 1 mile island. As such, it's very expensive to live in the Southernmost Point. For one person to rent a studio in Key West, they should be making at least $65k per year. (http://www.fla-keysappraisals.com) Considering this is more than the average salary in the US, it's very hard to live in Key West.

• Testing the what: People across the globe suffer from being homeless. It's a serious problem in poverty-ridden countries as well as wealthy countries. There is a myriad of organizations that plan to rid of homelessness across the world. However similar to world hunger, it's a large task to accomplish.

• Testing the why: Most people do not make enough money to afford housing in Key West. Also, the amount of affordable housing in Key West is very limited due to the overpopulation of the island. Thus, many have no choice but to live on the streets. 

Interview 1):

• Firstly, I interviewed my mom. Her and my dad are state certified real estate appraisers and have worked in Key West for more than 20 years. She also agreed in that it is very expensive to live in Key West. My mom told me that the homeless haven't been taken care of because of differing opinions of how "resources are to be spent." Nonetheless, the homeless exist and it needs to be fixed.

Interview 2):

• Next, I interviewed a girl from my high school. She also said it's very expensive to live in Key West. "People usually have to work two jobs to make ends meet." She also agreed that homeless were a problem. "Driving to school every morning I see large groups of homeless citizens." Furthermore, she also believes that the local government should do something about the amount of homeless in the city.

Interview 3):

• I interviewed another student from my old high school. She also agreed that Key West is expensive, and there is a substantial amount of homeless in the city. This student said, "there are efforts to help the homeless like soup kitchens, we could step it up." She said that there could be improvements made in the affordable housing neighborhoods, as well as public washrooms so they could care for their hygiene. She also brought up that only so much can be done because of the limited amount of space on the island. 

Interview 4):

• Next, I interviewed a college friend who lived in Key West with me, he said that the cost of living is indeed expensive and increases every year. Also, that there is a large amount of homeless on the island and not a lot is done to help them. He said opportunities should be given to help the homeless get back on their feet, such as unskilled jobs. 

Interview 5):

• Finally, I interviewed one of my best friends from Key West who attends Santa Fe College. He also agreed in that it is very expensive to live in Key West because of its location and atmosphere. Furthermore, he stated, " Rent for store-fronts is consistently rising, pushing out family-owned businesses. The island is being bought out by big companies, there are currently 4 CVS's on the island." Also, he said that there are programs to help the homeless, yet they cannot escape the poverty.

Given your interviews, what do you know about the opportunity that you didn't before?

• Whilst interviewing everyone, it was interesting to see how everyone believed that it is incredibly expensive to live in Key West. Many of them thought having two jobs was the norm!
• For the most part, the interviewees agreed with me, in that Key West has a homeless problem that needs addressing. It was interesting to see how my mom, an adult who has lived there for 20+ years, as well as normal students noticed this problem and recognize that it is very hard to live in Key West.
• The interviewees all agreed that something should be done for the homeless. Whether it's programs to help homeless people get jobs, or affordable housing. 

6A - Identifying Opportunities in Economic & Regulatory Trends

6A - Identifying Opportunities in Economic & Regulatory Trends

Economic Trend: Fading Energy Drags

• Source: https://commercial.jpmorganchase.com/pages/commercial-banking/executive-connect/six-key-economic-trends
• Considering oil prices have stabilized, and drilling in the states becomes more profitable, this increase in exporting of fuel will lead to an increase in capital spending for companies in our country. This is an opportunity for American companies to expand and build their oil firms because of the resurgence of oil exporting.
• The prototypical customer of this event are the owners of industrial/oil firms in the United States that are currently drilling in the United States.
• The opportunity is not easy to exploit. The opportunity simply is a moment in the oil market where prices are stable and demand of foreign countries is high, so companies should be keeping the supply of U.S. oil to other countries flowing. 
• I believed there was an opportunity because the market is very good for oil in the United States and using basic macroeconomics principle I figured the owners should make usage of the moment to grow their company in the long run. 

Economic Trend: Climate Change Is Causing More Natural Disasters

• Source: https://www.thebalance.com/top-usa-future-economic-trends-3305666
• The increase in natural disasters has led to a higher demand for carpentry and construction work. After the widespread wildfires of California, and the multiple hurricanes of the east coast, many buildings need to be repaired or rebuilt. This is an opportunity for roofing companies, carpenters, plumbers, and other blue collar workers.
• The prototypical customer would be someone who works in carpentry, construction, roofing, etc. who can repair/rebuild a building after natural disaster. 
• One could exploit the opportunity but it would be rather hard. First you'd have to wait for the opportunity to arise (natural disaster occurs). Second, you'd have to be ready to help people as soon as possible, and beat out the competing carpenters. 
• I believed there was an opportunity because the recent amount of damage being caused by natural disasters gives these markets a chance to thrive and expand.
• Whenever I've dealt with a hurricane, one of the first civilians to show up after a storm is a carpenter/ construction worker ready to help people rebuild what they lost.

Regulatory Changes: Sales Tax

• Source: https://www.businessnewsdaily.com/7671-regulatory-issues-changes.html
• The Supreme Court decision in South Dakota v. Wayfair ended the zero sales tax of E-commerce businesses. This provides an opportunity for traditional brick-and-mortar businesses to thrive again like before the introduction of the Internet.
• The prototypical customer of this regulatory change are owners of traditional businesses and customers who prefer in-person experiences when shopping.
• The opportunity is not easy to exploit. The opportunity simply levels the playing field between E-commerce businesses and brick-and-mortar businesses, making them both deal with a sales tax.
• I felt that this was an opportunity because it gives online businesses another barrier to entry, one that normal brick-and-mortar businesses have dealt with for eternity.
• I found that this opportunity existed because adding another cost to E-commerce businesses will decrease their revenue, taking away from the competition to brick-and-mortar stores. 

Regulatory Changes: Federal Tax Overhaul

• Source: https://www.businessnewsdaily.com/7671-regulatory-issues-changes.html
• After the Federal tax policy reform, changes to the U.S. tax code are underway. With this, companies should look into how to save as much money as possible without wrongly covering their taxes. This is an opportunity for businesses of all sizes to save money from the tax cuts.
• The prototypical customer is anyone who owns, runs, or works in a business. The tax cuts means more money in the pockets of Americans. 
• The opportunity is not easy to exploit, it was set across the whole country and is being put into effect. Any chance of exploiting against a Federal tax is most likely illegal. 
• I believed this was a business opportunity because more money in the pockets of businesses means that capital can be used for investing, expanding, and much more. I found this opportunity to exist because of basic economic principle, more disposable income going to people means there is more opportunity to work with.

5A - Identifying Local Opportunities

Assignment 5A- Identifying Local Opportunities

1. "FPL parents closes on purchase of Gulf Power" by Jim Turner of the Miami Herald

• https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0102%21January%2B02&f=advanced&action=browse&format=text&docref=news/170B3BD13208D298
• This article from January 2nd, 2019 is about NextEra Energy Inc. acquiring Florida Power & Light. Florida Power & Light is an energy company that has been struggling recently after Hurricane Michael. Having a parent company acquire Florida Power & Light will help get the company to their peak performance.
• The problem in this story is that Florida Power & Light has been struggling as workers work overtime to sustain the districts they are responsible for after Hurricane Michael.
• Florida Power & Light and its workers have the problem because the company is failing. Also, the customers of Florida Power & Light are involved because if Florida Power & Light cannot perform then many citizens would be without power.

     2. "Planning to buy a home soon? Here's how the government shutdown could affect you." by Rene Rodriguez of the Miami Herald

• https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0103%21January%2B03&f=advanced&action=browse&format=text&docref=news/170BB808A6B2FF68
• This article from January 3rd, 2019 is about how the government shutdown may affect services pertaining to purchasing a home. However, many believe that the shutdown itself will have no effect as the housing market is about "wants and needs purely." The most it could do is slow down certain processes they stated.
• The problem here is that people are concerned that certain services that deal with purchasing real estate could be slowed or unavailable because of the recent government shutdown from December of last year.
• People who have this problem is anyone in the process of purchasing a new home or their first home. Which is a big deal because all adults deal with this task at some point in their lives. 

     3. "Air Travel might be less safe during the government shutdown, federal inspectors warn." by Taylor Dolven of the Miami Herald

• https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0104%21January%2B04&f=advanced&action=browse&format=text&docref=news/170C0DE70914B8E8
• Because of the recent government shutdown, Federal aviation safety inspectors haven't been working. This has caused a heightened risk of danger for pilots and passengers. This has also put FAA workers out of work until the shutdown is over.
• The problem here is that people flying are at risk of danger because the planes aren't maintained properly. Also, FAA workers are jobless now.
• The people who have this problem are people flying, pilots, FAA workers, and TSA agents.

     4. "The team behind Kyu restaurant is launching a new eatery in Wynwood called - Laid Fresh" by Rene Rodriguez of the Miami Herald

• https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0105%21January%2B05&f=advanced&action=browse&format=text&docref=news/170C619474D859D0
• The owners of a successful restaurant called "Kyu" are opening another restaurant in Wynwood. Wynwood is a growing district with many "new restaurants and retail businesses." Kyu made OptenTable's Top 100 best restaurants in the U.S. so it will be interesting to see how the new one does. The new restaurant will be called "Laid Fresh" so perhaps it will be a healthy option.
• The problem is there was a need for a high end restaurant in the district of Wynwood. Also, since the new restaurant will be called "Laid Fresh," it will probably be a healthy option in the neighborhood.
• The problem is associated to people who live and work in Wynwood who might want a healthy option for food. 

     5. "Ugly year for stocks proved even worse for South Florida-based companies" by Rob Wile of the Miami Herald

• https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AMIHB%21Miami%2BHerald%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0107%21January%2B07&f=advanced&action=browse&format=text&docref=news/170CD8CA61F4A850
• This article published on January 7th, 2019 by Rob Wile is about the rather red year we had for the stock market. In the article, they compare the S&P 500 and Dow Jones Industrial Average to the top 50 companies of South Florida to see how they stacked against each other. According to the University of Miami Business School's Florida 50 Index, top public companies from Florida were down five percent. Whereas, the Dow and S&P fell six percent.
• The problem at stake is the companies of Florida are currently undervalued since their stock prices have fallen. However, they didn't do as poor as the two most popular indices of market.
• The people involved with this problem are shareholders of the companies and the owners of the companies.

4A- Forming an Opportunity Belief

Forming an Opportunity Belief

There is an unmet need for assistance in helping students find their academic passions when choosing a major. Every college student goes through the challenging identity-defining task that is choosing a major in college. One's college major is often deemed as the fate of one's professional career, or even a tool in social place to interpret a student's self-concept. Furthermore, the University of Florida released a study on the matter, claiming that "38% of UF students change their major by the end of their first year, and 61% end of their second year" (advising.ufl.edu). Obviously, UF has options and services that are meant to aid with choosing a major, but I feel as though more can be done.

Person 1

What is your major?

• "Environmental Engineering"

Do you think it's the right fit?

• "It's the only thing I'm vaguely interested in right now that's part of the engineering curriculum."

Would you feel confident in switching majors or seeking help with switching?

• "If I was really lost, I'd feel comfortable in searching for a new major."

Do you believe UF does a good job at showing support?

• "I believe that UF has many resources to be supportive towards its students and that students should be able to be comfortable to reach out if they need it."

How did you decide upon your major?

• "I knew I wanted to be some kind of engineer and I also enjoy the environment so I combined the two topics."

How have you addressed any problems pertaining to the topic?

• "Any issues I have I brush off because it doesn't feel like an immediate issue."

How satisfied are you with these solutions?

• "My solutions aren't the best, but I have too much to focus on right now."

Reflection:

This person felt that the choice of major dilemma was a problem that can be fixed over time, whilst they are busy sticking to their work. They're choosing to go with the flow, and will seek help from UF if needed.

Person 2

What is your major?

• "Finance"

Do you think it's the right fit?

• "In the beginning of the year I was very unsure of my major and was considering switching to Aerospace Engineering. But decided to stick with Finance as I was unsure of engineering as well."

Would you feel confident in switching majors or seeking help with switching?

• "If I truly believed Finance wasn't for me, I'd switch. "

Do you believe UF does a good job at showing support?

• "UF has services available, but my problem is I like too many fields of study, what about students who have no real idea of their passions?"

How did you decide upon your major?

• "In high school I looked at career, and for some reason Investment Banking stuck. Nowadays I have no idea if I want to be a banker. So my path nowadays is a mystery."

How have you addressed any problems pertaining to the topic?

• "I have spoken with an adviser before about my issues but I feel as though I'll just have to wait and see with my academic career."

How satisfied are you with these solutions?

• "I am not very satisfied with this outcome, but it's just how things work sometimes."

Reflection:

This student thought of switching but decided against it. Maybe they weren't confident in the big switch up? Nonetheless, they will seek help if necessary.

Person 3

What is your major?

• "Finance"

Do you think it's the right fit?

• "Yes, I am very happy with my current track."

Would you feel confident in switching majors or seeking help with switching?

• "If I wanted to change majors I would feel confident in doing so."

Do you believe UF does a good job at showing support?

• "Yes, I feel that UF has sufficient services for this task."

How did you decide upon your major?

• "I based my passion for business as a motive for my major, as such, I decided on Finance."

How have you addressed any problems pertaining to the topic?

• "I would go to Farrior Hall and ask to speak with an Academic Adviser to see what we could do about it."

How satisfied are you with these solutions?

• "I feel like these tactics are sufficient for dealing with problems."

Reflection:

It seems that this student thought the services provided by UF were good enough for a student in need of deciding a major. They were happy with Finance and felt like it was a good fit for their motives.

Summary:

I feel that despite students feeling that they could turn to UF for help with academic major issues, there are still some areas that need improvement. I feel as though the school could do more for students who are exploratory and need help on finding a passion. The students I interviewed all had their passions figured out already, but what about those who don't? Interviewing people brought a new perspective to this problem for me and made me realize that most students are confident in UF's programs. It may work well for most, but there is always room for improvement.

3A- Your Entrepreneurship Story

Your Entrepreneurship Story

My first memory of entrepreneurship in the works was when I was in 6th grade. My parents were moving their appraisal company from a shared office space to their own property space. This was when I noticed and ultimately realized that my parents were working and making a living by themselves (and with a secretary). They were providing a service on their own and expanding their company to a bigger office space. I would consider this an entrepreneurial feat as they went ahead and signed the lease for the office space and moved their business there for the better.

I enrolled in ENT3003 because I want to learn how to become an Entrepreneur. Obviously, a lot more goes into being an entrepreneur than taking a class on it. But I was very interested in where to start, and how to go about this financial feat. I have ambitious goals and many ideas for my entrepreneurial motives. 

This is a picture of my parents' office in Key West, Florida.

2A- Bug List

Bug List

1.  McDonald's on W. University Ave. has a large presence of homeless people. (McDonald's is an inexpensive fast food chain and the restaurant lacks security so homeless people tend to ask students for food/money.)
2. A very long line tends to develop from Farrior Hall during Add/Drop Week. (During Add/Drop week, many students need advising help when arranging their academic schedule. When a mass amount of students show, the students are not being helped enough, or there simply may not be enough employees to see students at an efficient pace.)
3. Chomp-It Line is always long in the racquet club dining center. (There is usually one worker taking care of the cash registers instead of two, which can slow down the ordering process and weaken efficiency.)
4. The intersection near Plaza of Americas (Union Rd and Newell Dr) often becomes backed up. (This happens during transitioning times between classes. Tons of students flood out of the library and adjacent buildings, causing buses and cars to wait for students to cross.)
5. The fire exit for my form in Murphree Hall is not the safest. (I live in Murphree Hall which is a historically significant dorm. Being one of the first built for campus, it doesn't exactly follow modern regulations. I am on the fourth floor, and the only way out is going down the four flights of stairs, which can be dangerous if a fire spreads below me.)
6. My roommate's schedule is much earlier than mine. (This means I have to be quiet at night, and I sometimes wake up early from his alarms.)
7. There was an employee sale for the bookstore I mistakenly thought was for students. (I once received an email for a sale in the bookstore right before Christmas, planning to make use of it to buy memorabilia as gifts, I realized too late that in small text it stated it was for staff and workers.)
8. My four instruments take up a lot of room in my dorm. (My two electric guitars, acoustic guitar, and bass guitar all sit on stands in the corner of my room, as I am not allowed to hang them on the wall instead.)
9. My phone charger near my bed doesn't work anymore. (The charger probably got pinched and was destroyed over time from usage for a year.)
10. My bed sheet always comes off one of the corners. (The bed sheet is not the right size for the mattress and thus becomes lifted often.)
11. The Student Rec Gym is too busy most nights. (Many students exercise in the evening after classes are done, as such, everyone goes at the same time and the gym is not large enough.)
12. CSE-A101 has the worst desks of all time. (I once took a microeconomics exam in this lecture hall and found the desks to be incredibly too small to use. They were designed this way to fit as many students into an area for a testing environment as possible.)
13. My guitar amp is too loud to use in my dorm. (The high wattage amp is too loud to be used above a low setting because it would disturb my roommates.)
14. My laptop disconnects from the UF WiFi every time it goes to sleep. (Could be a problem with my laptop's PCIe chip or a miscommunication between UF and my laptop.)
15. My TV was not working last semester. (Apparently, when using Coaxial Cables you must manually search frequencies to find channels.)
16. My car is always parked very far from my dorm. (Since I am a freshman, my parking sticker places me at distant parking lots.)
17. Traffic in Gainesville is often atrocious. (There is a lot of people in Gainesville due to the population of Gainesville and of UF students and staff.)
18. The parking lot outside my dorm gets blocked off during Football Game days. (The lots are very close to Ben Hill Griffin Stadium, so fans use the lots to tailgate.)
19. Parking Spaces are very small on campus. (In order to fit as many spaces as possible, the University has small parking spaces leaving chances of door dings and parking accidents.)
20. My pen smears on my notes. (The ink of my pen and my paper don't seem to mix well as the ink dries in a slower fashion than normal.)

Reflection:

This assignment has forced me to look at problems in the world and ask "why?" I found the bug list was rather hard to use in the beginning, I could barely come up with one. Then I decided to just subconsciously think about the bug list while out on campus. In doing so, I have managed to fit the bug list into my daily life, hoping to inspire me to take action. This is a necessary skill for an Entrepreneur and one I hope to master.

Test Blog Post

This post is a test for the blog for ENT3003.


Zach Wilson