Identifying Opportunities in Economic & Regulatory Trends
Economic Opportunity #1: Inventory and food items left over in restaurants due to customer shortages caused by Coronavirus.
a. I found this opportunity myself; our family owns a restaurant and we are facing that exact problem. Food is purchased wholesale with a specific amount of customers estimated, which we lost due to Coronavirus.
b. The unmet need exists based on this information since other restaurants are facing the exact same trend that we are.
c. The customer with this need are restaurants that have unexpired yet overstocked inventory and food items that are not going to be used.
d. I think this opportunity can be exploited easily. In the worst case scenario, the food can be donated. However, as some local restaurants here have done, the food that was purchased wholesale (ex: chicken breast) can be resold individually market-style in order for restaurants to make some of their money back.
3. I "saw" this opportunity mainly because of my active background in the food industry and working with my parents over time.
Economic Opportunity #2: After economic downturn and hair salons / barber shops being shut down, there is an unmet need for safe ways to get a haircut. This is based off the active story "140 People Have Been Exposed to COVID-19 After a Missouri Hair Salon Reopened”
a. I found this opportunity after reading the above story in a news article
b. The news article explaining the Missouri hair salon coronavirus infections illustrated the clear need for safe haircut procedures.
c. I believe the prototypical customer is any customer who has been waiting to get haircuts ever since salons and barber shops closed due to the economic downturn caused by coronavirus.
d. This opportunity is difficult to exploit because of the nature of haircuts, which requires close contact.
3. I "saw" this opportunity, but I do not think it is unique to me or based on anything in my background specifically. I believed it was there based on the article and my personal need for a haircut, but I believe the same would apply to many others.
Regulatory Opportunity #1: Re-opening Regulations: Need for strong sanitation regulations to ensure Uber's and Lyft's are safe.
a. I found this opportunity when I had to take an Uber a few days ago and I was worried about the sanitation issues involved with doing so.
b. My personal worry about sanitation in an Uber that I felt while I was in the Uber is an excellent source for believing the opportunity exists since I felt the unmet need myself.
c. I believe the customer with the opportunity is any Uber customer who would benefit from sanitization, which affects every Uber customer.
d. This opportunity would be difficult to exploit due to shortages on sanitization material.
3. I "saw" this opportunity because I have a friend who got the virus a few weeks ago, and sanitization has been a huge focus for me every since.
Regulatory Opportunity #2: California’s new regulation attempting to curb employers such as Uber and Lyft listing employees as “independent contractors” has made it hard for other contractors such as graphic designers, electricians, etc. to find work.
a. I found this opportunity when I read about California’s regulation on the news. The regulation went into effect on January 1st of this year.
b. I believe that, based on this article, the difficulty faced by contractors to find work in California is a clear unmet need that perhaps a specialized firm could fulfill.
c. The prototypical customer are independent customers who were inadvertently and negatively affected by California’s new regulation.
d. The opportunity would be relatively difficult to exploit. While I think it is possible to exploit, there would certainly be difficulty since it would be working around a large and strict regulation.
3. My background in politics helped me “see” this opportunity; I am generally for regulations and would rather be safe than sorry. I also think there is a major problem with Uber and Lyft’s employment system. However, this regulation has clearly had negative impacts that were not intended. Based on my political background, I “saw” an opportunity there.
a. I found this opportunity myself; our family owns a restaurant and we are facing that exact problem. Food is purchased wholesale with a specific amount of customers estimated, which we lost due to Coronavirus.
b. The unmet need exists based on this information since other restaurants are facing the exact same trend that we are.
c. The customer with this need are restaurants that have unexpired yet overstocked inventory and food items that are not going to be used.
d. I think this opportunity can be exploited easily. In the worst case scenario, the food can be donated. However, as some local restaurants here have done, the food that was purchased wholesale (ex: chicken breast) can be resold individually market-style in order for restaurants to make some of their money back.
3. I "saw" this opportunity mainly because of my active background in the food industry and working with my parents over time.
Economic Opportunity #2: After economic downturn and hair salons / barber shops being shut down, there is an unmet need for safe ways to get a haircut. This is based off the active story "140 People Have Been Exposed to COVID-19 After a Missouri Hair Salon Reopened”
a. I found this opportunity after reading the above story in a news article
b. The news article explaining the Missouri hair salon coronavirus infections illustrated the clear need for safe haircut procedures.
c. I believe the prototypical customer is any customer who has been waiting to get haircuts ever since salons and barber shops closed due to the economic downturn caused by coronavirus.
d. This opportunity is difficult to exploit because of the nature of haircuts, which requires close contact.
3. I "saw" this opportunity, but I do not think it is unique to me or based on anything in my background specifically. I believed it was there based on the article and my personal need for a haircut, but I believe the same would apply to many others.
Regulatory Opportunity #1: Re-opening Regulations: Need for strong sanitation regulations to ensure Uber's and Lyft's are safe.
a. I found this opportunity when I had to take an Uber a few days ago and I was worried about the sanitation issues involved with doing so.
b. My personal worry about sanitation in an Uber that I felt while I was in the Uber is an excellent source for believing the opportunity exists since I felt the unmet need myself.
c. I believe the customer with the opportunity is any Uber customer who would benefit from sanitization, which affects every Uber customer.
d. This opportunity would be difficult to exploit due to shortages on sanitization material.
3. I "saw" this opportunity because I have a friend who got the virus a few weeks ago, and sanitization has been a huge focus for me every since.
Regulatory Opportunity #2: California’s new regulation attempting to curb employers such as Uber and Lyft listing employees as “independent contractors” has made it hard for other contractors such as graphic designers, electricians, etc. to find work.
a. I found this opportunity when I read about California’s regulation on the news. The regulation went into effect on January 1st of this year.
b. I believe that, based on this article, the difficulty faced by contractors to find work in California is a clear unmet need that perhaps a specialized firm could fulfill.
c. The prototypical customer are independent customers who were inadvertently and negatively affected by California’s new regulation.
d. The opportunity would be relatively difficult to exploit. While I think it is possible to exploit, there would certainly be difficulty since it would be working around a large and strict regulation.
3. My background in politics helped me “see” this opportunity; I am generally for regulations and would rather be safe than sorry. I also think there is a major problem with Uber and Lyft’s employment system. However, this regulation has clearly had negative impacts that were not intended. Based on my political background, I “saw” an opportunity there.
Hey Jean,
ReplyDeleteI thoroughly enjoyed reading about the opportunities you have identified with local trends! It was very interesting to see your thought process with each opportunity and how you approached an issue that you were seeing within everyone's day to day world. I think each idea is very feasible and with the right amount of work have the potential to be successful.