6A – Identifying Opportunities in Economic & Regulatory Trends

#1 Economic Opportunity - Here's One Major Sign That Markets Can Run Even Higher, According to the Head of the World's Biggest Money Manager

1. http://fortune.com/2018/01/25/stock-market-2018-larry-fink-blackrock-davos/
2. I believe an opportunity exists here due to the statistics this article shows. Many individuals are holding onto their savings in cash, instead of investing in the stock market or other investments.
3. The prototypical customer is most likely a working class adult individual across various industries. However, with our changing demographics across the United States, it could be a young adult who is looking to control his or her financial stability. He or she is someone who is concerned about the direction stock markets are heading and stays up-to-date on monetary and financial news.
4. I think this opportunity is relatively easy to exploit, but may be intimidating or scary for individuals who don’t want to take the risk of investing their money in risky investments they aren’t sure will make a return.
5. I saw this as an opportunity due to the increased growth in the stock market lately. I believe there is always risk associated with the stock market as one can never be too sure, but with the upward and consistent trend that analysts have seen, I think there is a lot of opportunity for individuals to take advantage.

#2 Economic Opportunity - Artificial Intelligence Stocks To Watch For In 2018 And Beyond

1. http://www.ibtimes.com/artificial-intelligence-stocks-watch-2018-beyond-2644649
2. I believe an opportunity exists because of the growth in the artificial intelligence industry over the past twenty years. It is incredible what the tech industries have been able to accomplish, and people who are interested in making money off of this prosperous field will have no problem doing so.
3. The prototypical customer is someone who has kept up with the latest AI developments and is looking for an industry to invest in with a proven success record. The customer is probably aged 20-50 and is knowledgeable about this field as well as stock market investments in general.
4. This opportunity is definitely easy to exploit due to its proven track record of success. The only issue here is getting in before the prices explode and soar higher than investors are willing to pay.
5. This industry has tons of room for growth. The first thing I thought of when I read this article was Sophia the social humanoid robot. If we have the technology and capability to develop something like that, then there is no telling the amount of opportunity investors will have in this field.

#3 Regulatory Changes - Stop the Importation and Trafficking of Synthetic Analogues Act would ban 13 of the most deadly synthetic drugs

1. https://govtrackinsider.com/stop-the-importation-and-trafficking-of-synthetic-analogues-act-would-ban-13-of-the-most-deadly-256e7ffb63d
2. I think there is an opportunity to make a huge impact on the drug addiction and synthetic drug crisis that is plaguing many Americans. Drug overdoses doubled from 2015 to 2016, and the DEA is trying to pass this bill in order to speed up the process by which substances can be added to the Controlled Substance Act.
3. The DEA and law enforcement officials will benefit from this bill being pass, as well as many Americans who are unfortunately caught up in drug addiction. Keeping these drugs off of the streets can prevent unnecessary deaths across the United States.
4. I believe this opportunity is easy to exploit, however, it requires enough support from both the House and the Senate. The bill has received enough votes from the House and is waiting for the Senate’s version to be passed.
5. Drug addiction is an issue that America has been facing for decades. Unfortunately, new drugs are introduced almost daily, and the DEA simply can’t keep up with the new strands and versions being sold on the streets. This bill will allow law enforcement to tackle this issue more quickly and efficiently than before.

#4 Regulatory Changes - The Minimum Wage in 2018: A Rates-Only Update

1. https://www.littler.com/publication-press/publication/minimum-wage-2018-rates-only-update
2. Minimum wage rates have been a topic for discussion over the past year, especially with the rising number of citizens relying on blue-collar jobs for income. Many people have been advocating for our government to raise minimum wage to make their standard of life better and more enjoyable.
3. Anyone who works in industries with minimum wage jobs, which according to data from 2016, is over 1.3 million Americans.
4. I believe this is a tricky topic to exploit. Increasing minimum wage will increase employer’s costs, which is the opposite of what they are trying to accomplish. However, it would increase the standard of life for many Americans who rely on these jobs for their family income.
5. I believe the wage increase should be distributed due to skill and labor. Certain low- and middle-income jobs require more attention than others, and I think wage should be a reflection of that. A higher minimum wage could help create jobs and grow our economy, as well as decrease the wage inequality between low and middle income workers.

5A - Identifying Local Opportunities

5A - Identifying Local Opportunities

• Wrenching dilemma: Stay or leave? - Some immigrants face momentous decision - hide, try for green card or go back home
• http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/16991C7AD33490A0?p=WORLDNEWS
• The issue: Many immigrants have been allowed to stay in the United States due to having temporary protected status, or TPS, counts as a “legal entry”, which is a first step toward applying for legal status. TPS is a special protection from deportation granted under immigration law for people from countries impacted by natural disasters and civil wars. Trump administration is cracking down on the immigration policies that allow them to live in the U.S. legally and has announced plans to terminate these federal protections.
• The problem: Immigrants who have entered the country illegally but have obtained temporary protected status due to the nature of their home country are faced with a difficult situation. They must decide between uprooting their family and relocating to a state covered by the 9th or 6th circuit, or moving back to their home country and apply for a green card. However, going back to their country does not guarantee a green card for everyone, and it can also hurt the family’s financial stability as well.  
• The people: almost 1 million protected immigrants who are affected by TPS and other programs like the Deferred Action for Childhood Arrivals program

• Opioid bill advances in House despite some doctors' worries
• http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1699C76A56940780?p=WORLDNEWS
• The issue: A bill was just passed that will prevent doctors from over prescribing opioids to patients. The bill, passed Monday by a House committee, increases more reporting requirements to state prescription databases and pain management clinics to state health agencies.
• The problem: Opposers of the bill, mainly doctors and other medical professionals, argue that the stricter policies on opioid distribution will negatively affect patients dealing with chronic pain issues or traveling from out of town to see specialists.
• The people: Opioid prescribers and patients who depend on opioids for genuine, medical reasons.

• Citrus crops, homeless shelters - shiver under freezing conditions - Coldest temperatures since 2010
• http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1698748C9B376C28?p=WORLDNEWS
• The issue: Florida has received unusually cold weather over the past two weeks, with temperatures getting as low as 24 degrees in the middle of the night.  
• The problem: Farmers and citrus grove owners are fighting the cold weather by constantly running water over their crops to create an ice layer barrier to protect the trees from the cold weather. It doesn’t prevent the fruit from freezing, but rather protects the trees from dying from the extreme weather. In addition, many homeless shelters and churches have made special arrangements to prepare for an increase in more people seeking refuge
• The people: Homeless people and local farmers in Florida.

• As attacks on science education intensify: Push back, Florida
• http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/1698C9E504EAFCC8?p=WORLDNEWS
• The issue: Since last year, science education at Florida’s public schools has faced attacks from concerned parents who wish to counter evolution and climate change lessons with creationism.  
• The problem: Last year, Governor Scott passed a bill that allows citizens to criticize public school education and instructional materials they don’t approve. This has led to an increase in attacks on science education, mainly through the lense of evolution and climate change. Although public school have historically been secular and free of religious connotations, citizens are challenging this by attacking school boards and demanding lessons to be changed.
• The people: Anyone involved in public school education - school faculty, students, school board members - and the future citizens of the state of Florida. Learning basic scientific knowledge of how our footprint leaves an extremely important mark on the earth is imperative in the success of our future.

• New home builders keep moving outward
• http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/16991C7B5D5AF038?p=WORLDNEWS
• The issue: Although the greater Orlando area has seen a tremendous increase in home-building and expansion over the last ten years, it is slowly coming to a stop as the availability of read-to-build land is decreasing.  
• The problem: Metro Orlando area grew by some 47,000 residents through migration, according to 2016 U.S. Census figures. That number is continuing to grow, and most of those moving need a place to live. Market experts and construction workers are having a difficult time finding new areas to build homes in Seminole and Orange County. Expansion in other counties, such as Lake and Osceola, are not as ideal to newcomers because of the distance and commute to the city.

The people: Anyone trying to move and/or relocate in the Metro Orlando area.

4A – Forming An Opportunity Belief

I believe there is an opportunity available in Gainesville, Florida for a smart investor who is willing to invest in opening/building a new bar in the Midtown area. Many bars have closed or been shut down over the past couple of years, and it has created a problem for the citizens of Gainesville who enjoy going out and meeting friends for drinks or socializing. The need for this bar has developed over the past couple of years. To compensate for this need, other Midtown bars have been packed over capacity because of the amount of people who still want to go out at night. The prototypical customer is a college student or young adult, age 18-26, and both male and female. I am about… 80% sure this opportunity exists.

#1. 21 year old female, in a sorority.

• How often do you go to Midtown to meet up with friends to socialize or drink?
• Once a week, maybe twice max.
• When did you first become aware of the issue of Midtown bars closing?
• I heard about Cantina 101 closing, but I never really went there that much. Then I noticed a few other bars closed shortly after that.
• Do you think there is an unmet need resulting from the closing of three bars in Midtown?
• I guess so. Like I said, I don’t go to Mid very often. I can see why it would be a problem for people who enjoy going out more often than I do.
• Has a line outside of a bar ever discouraged you from going to that bar?
• Yes, definitely. I don’t wait in lines, mainly because I chose to go to bars that are less crowded.
• Do you think you would be more or less inclined to go to Midtown if a new bar was opened?
• Personally, that wouldn’t change my mind. I have a busy course load this semester and I also have a job, so I am busy most nights.

My interview with this person was interesting because she had no opinion nor did she care that much about this opportunity. She was definitely not the prototypical customer, although she met all of my initial identifiers. This proved Professor Pryor’s point that just because it seems like an opportunity to you, it doesn’t mean that everyone will react the same way.

#2: 20 year old male, in a fraternity, who attends Midtown regularly.

• How often do you go to Midtown to meet up with friends to socialize or drink?
• Two to three times a week, depending on how busy I am with school or if we have a social. Every weekend, too.
• When did you first become aware of the issue of Midtown bars closing?
• I witnessed Cantina close (RIP) and also Copper Monkey. I don’t understand why they both shut down, because they both had pretty good nightlife and regular crowds.
• Do you think there is an unmet need resulting from the closing of three bars in Midtown?
• Definitely. If you don’t get to Midtown before 9pm, good luck getting into any bar. I wish I was joking.
• Has a line outside of a bar ever discouraged you from going to that bar?
• The lines suck but I always wait them out or pay to skip the line. You have to do what you have to do.
• Do you think you would be more or less inclined to go to Midtown if a new bar was opened?
• A new bar would be an awesome addition, but I heard it’s not going to happen anytime soon.

This interview was a little more telling and he confirmed my opportunity theory. He frequents Midtown more regularly than the first woman interviewed, so it makes sense that he agrees with my belief that an opportunity exists.

#3: 23 year old male, in law school, who attends Midtown regularly.

• How often do you go to Midtown to meet up with friends to socialize or drink?
• Every weekend, and sometimes once or twice a week just for a casual drink.
• When did you first become aware of the issue of Midtown bars closing?
• I’ve been around Gainesville for a while now, six years to be exact, and I’ve seen all of the bars close due to competitors, landlords, or just not making enough profit.
• Do you think there is an unmet need resulting from the closing of three bars in Midtown?
• Yes, it’s really unfortunate that these bars were closed because other Midtown establishments are now having to overcompensate for the people who would have gone to those bars. Midtown gives me a headache now, and I only go to the two bars that are strict enough to know a fake ID from a real one.
• Has a line outside of a bar ever discouraged you from going to that bar?
• I tend to avoid Midtown when the lines are at their worst, but yes I have been discouraged before. I’m smarter about when and where I decide to go.
• Do you think you would be more or less inclined to go to Midtown if a new bar was opened?
• I would be more inclined to check it out and give them my business. Anything to get rid of the underage people trying to take my seat in Salties.

This interview was interesting because he has been in Gainesville long enough to remember what it was like before the three bars at Midtown shut down. He even commented on the issue of fake IDs and underage people going out to bars, which has definitely increased the amount of traffic Midtown has seen.

My opportunity belief changed slightly during my first interview, but after interviewing the second two gentleman, I still believe there is an unmet need in our community. However, I do not know if it is more or less accurate after conducting these interviews. Entrepreneurs definitely have to be flexible and adapt their opportunities to customer feedback. In order to create something that has both relevance and potential for demand, you need to adapt to your customers needs and evaluations to develop an idea that is worth their investment.

3A - Your Entrepreneurship Story

In high school, my friend Anna's mom started her own small business. She opened a boutique clothing store in a popular area in our city. It had been her dream for a long time, and she finally acquired the time and financial commitment to pursue her dream. It was awesome to watch the store come to life after hearing about it through Anna for a few years. The clothing store became everyone's favorite place to shop, and we all loved being the first to know about the new arrivals and latest trends. Having a female role model pursue her life long dream was a true inspiration to me in high school, and it was really cool to see the community respond so well to the store. The clothing store has been open for a little over 8 years now, and it has been super successful! 

I enrolled in ENT 3003 to learn more about what it means to be an entrepreneur. I've always heard the stereotypical ideas behind it - "you're your own boss" and you need to have a "risk-taking mentality" - but I'm interested to learn any specific skills or ideas I can use in my future career. I appreciate the idea of creating your own business idea and working around your schedule, and I'm excited to develop new strategies and thought processes that will allow me to think more like a real entrepreneur. 

2A - Bug List Assignment

Bug List
1. People who walk slowly/leisurely.
WHY it exists: I tend to walk faster than most people, and it irritates me when I have to walk around slow walkers. I normally give myself an appropriate amount of time to walk to/from class, but I also enjoy getting places in an efficient manor.
2. People who drive the speed limit in the left lane.
WHY it exists: Some people think they have to stay in one lane or are scared to switch lanes when they see cars passing them. They either aren't paying attention to their surroundings or not noticing the flow of traffic in respect to the speed limit.
3. Parking on campus near Sorority Row.
WHY it exists: UF hasn't dedicated enough land to combat the parking issue on campus.
4. Having exams/tests at 8 pm at night instead of during class periods.
WHY it exists: In order to give students enough time for the exam, most exams are held from 8-10 pm. I still wonder why certain classes at are two or more blocks don't hold their exams during class.
5. Having too many groceries and being unable to carry them all inside in one trip.
WHY it exists: I buy too many groceries for one person to carry in one trip. I get lazy and don't want to have to walk out to the car again.
6. How many people are at South West Rec Gym between the hours of 4-8 p.m.
WHY it exists: Parking is lifted at 3:30 p.m. and many people come to campus after that time in order to work out.
7. The lines for the bars at mid town on Wednesday and Friday nights.
WHY it exists: Many bars have closed over the past year. In addition, most bouncers don't care about fake IDs, so a lot of under age people are able to get in to most bars.
8. When people take up a lot of space at the gym/take a lot of time on one machine.
WHY it exists: Some people don't recognize when there are others waiting for the space/machine they are using. Also, if someone is taking long rest periods or checking their phone between reps, it slows down the efficiency of their workout.
9. The size of parking spots in all UF parking garages.
WHY it exists: The people who designed the parking spots tried to maximize the amount of spaces in each garage.
10. People who smoke cigarettes around other non-smokers.
WHY it exists: These people must not pay attention to the warning signs and labels describing the dangerous side affects from cigarettes.
11. PhD students who teach courses offered at UF instead of professors.
WHY it exists: PhD Students need practical experience before they become real professors, so UF allows them to teach a relevant course in preparation for their career.
12. When my head phones get really tangled up after I pull them out of my backpack side pocket.
WHY it exists: This is probably my fault, because I don't roll them in a ball or take precautionary measures to make sure they don't end up tangled. They become tangled because there is a lot of other things (pens, keys, etc) in the pocket that become intertwined with the head phones as I walk.
13. People who drive really close behind my car.
WHY it exists: I am driving too slowly and they are passive aggressively trying to let me know, and/or they are trying to get me to speed up.
14. Solicitors.
WHY it exists: It's someone's job. They're just trying to make money. Unfortunately, no matter how many numbers I block, I am still on a list and receive calls from a number with my area code at least once a week.
15. Delays at the airport.
WHY it exists: Delayed plane arrival/departure due to flight deck operations, mechanical problems, crew members arriving late, etc.
16. Traffic around Gainesville between 3-7 p.m.
WHY it exists: Most people are getting off of work during this time, and children are getting out of school as well.
17. Group projects.
WHY it exists: Some teachers want collaboration on certain assignments, and some assignments are too large to do on your own.
18. When you can hear the music someone is listening to through their headphones.
WHY it exists: The quality of their headphones is poor, or they are listening to their music way too loudly.
19. When people try to make a huge profit selling their student football tickets.
WHY it exists: We're college students, and most of us don't have a steady income. People up the price of the ticket to make a profit off of what they paid.
20. When your food doesn't heat up evenly in the microwave.
WHY it exists: This happens because the radiation produced by the microwaves doesn't travel very far. The radiation waves only penetrate a limited amount, depending on the type of material (food) you're heating up.


This exercise was pretty difficult and took me a couple of days to finish. It was easy to think of a list of few things that came to mind, but after a while, I couldn't think of legitimate reasons why they bugged me or why they existed. It was interesting to think from an entrepreneurial perspective as to why the problems exist because I have never taken the time to do that before. Thinking of how I would solve the issues that bug me helped me reframe these annoyances in my mind, and next time they occur, maybe they won't bug me as much now that I have thought of the reasoning behind them.

First Post

Hi! My name is Meredith and I am a senior studying marketing at the University of Florida. This is my last semester before graduating, and I'm excited to learn different entrepreneurial skills and tools from this class that I will be able to apply to my future career.