Friday, September 28, 2018

10A – Elevator Pitch No. 1



Assignment 10A – Elevator Pitch No. 1




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9A – Testing the Hypothesis, Part 2


Assignment 9A- Testing the Hypothesis, Part 2

    • Who: From my interviews, I realized that there are groups of people that do not fit inside of my market. These people would be those who do not have skin problems and are not affected by acne. Also, the ones who already have established skin care routines do not have the need for my product. One of my interviewees stated that it took a long time to find the perfect skin care products for her and that she did not have the need for a skin care product anymore. Nevertheless, she stated that many people have an unmet meet for the product.
    • Interview number two (a freshman) said that he does not have time to use a skin care product since he is always busy with school work and he does not schedule enough downtime.
    • The interviewees that seem the most interested in my product are female upperclassmen. One of the male interviewees said that he would not use it since he does not use skin care products.
    • What: The problem is that acne and skin care issues are inevitable. Stress, puberty, and hormones are all huge contributing factors to acne. 
    • Why: The need is not different. It just depends on if the person wants to take the necessary steps to prevent acne or if they already have a skin care routine. 
Inside the Boundary                Outside the Boundary


Who:                       Teenagers and adults who care         Teenagers and adults who don't
                                about their skin                                  care about their skin

                                Teenagers and adults who need        Teenagers and adults who already
                                 the product                                       have skin care products/routines


What:                       To prevent acne while using            To completely cure acne
                                 natural products



Why:                        There aren't a lot of products           People want to feel good
                                 that are natural and specific to         about themselves
                                 certain skin types





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Friday, September 21, 2018

8A – Solving The Problem


Assignment 8A – Solving The Problem

  • My product has to do with skin care and acne. 
  • I would like to have a product that is gentle, easy to use, and specifically made for a diverse group of users.
  • Here are some versions of my idea:
    • Foam-like wash: This product would be easy on the skin and not cause irritation. I would imagine it similar to a bath bomb. I would also like it to be a moisturizer specifically made for the exact skin type of the user. This product would be made of organic, healthy products but would be able to alter itself to fit the needs of any skin type. 
    • Skin healer: This product would minimize the effects of bruising and the discoloring of the skin. It would be applied to areas of cuts or bruises.

  • I want to have a product that can be sold in department stores and beauty stores. Although acne is hard to prevent, my product would fit the need of a ton of teenagers and young adults that suffer from acne and breakouts.
  • Stores would want to buy my product because skin care products and skin care routines have increased in popularity lately. 
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7A- Testing the Hypothesis, Part 1



7A- Testing the Hypothesis, Part 1

Smart Wash
  • Opportunity:
    • A lot of teenagers and young adults have problems with acne and skin care.
      • The who: Teenagers and young adults with acne
      • The what: They have skin care problems or acne
      • The why: There are different factors that cause acne, with the main ones being hormones and puberty. There isn't a single product to cure acne.

  • Testing the who: The "who" is not limited to females or males. Nor is it limited to just teenagers in the United States. Everyone who has gone through puberty has had a case of acne or skin irritation. The majority of Americans who suffer from acne are between the ages of 12 and 24.
  • Testing the what: There are a handful of teenagers and young adults who don't have skin care issues when going through puberty.
  • Testing the why: There is no way to control stress, hormones, and other factors that cause young adults to have acne. This opportunity would give users a chance to prevent and control their acne outbreaks. The users would be less stressed if they had a certain way to moisturize and care for their skin. Users would be more content if they only had to use a single product in order to have healthy skin.
  • Interview #1
    • This interview was with a young sophomore female in college. She feels frustrated that she has to buy a variety of products to fulfill her skin care needs. She has gone through years of trial-and-error in order to find products that don't irritate her skin. When using certain skin care products, her skin turns red and becomes dry. She wishes that there was a single product that could fit her skin type perfectly.
  • Interview #2
    • This interview was conducted with a 14-year-old male high school student. He has stated that he is currently going through puberty, which causes his acne to flare up. He has tried Proactiv and other skin care products, which works but dries out his skin. He states that he has an unmet need for a facial cleanser that moisturizes dry, oily skin types.
  • Interview #3
    • This interview was conducted with a 4th-year male college student who likes using organic products. The student states that he does not suffer from acne currently, but does when he is stressed. He thinks there should be a product that is applied to the face that is foam-like and gentle to the skin. He also thinks that there are too many products that have unknown active ingredients that can barely be pronounced. 
  • Interview #4
    • The interviewee is a 21-year-old female basketball player. She does not suffer from acne but has a need for a skin care product that heals cuts and bruises. She plays basketball every day and frequently ends up getting bruises from practicing and wishes that there was a solution to her problem. She thinks that a skin product that heals and minimizes the effects of bruising and discoloring would be perfect for her. 
  • Interview #5
    • The interviewee is an 18-year-old female college student. She uses makeup every day and takes cares of her skin. Although she does not need the product, she states that there is a need for a skin-care product that has different functions and that is made specifically for your skin type. She thinks that it should be easier for people to take care of their skin. She would like to see a product that cleans off makeup that she has worn, even the oil left over from makeup.

  • Given your interviews, what do you know about the opportunity that you didn't know before?
    • From the interviews, I have gotten different perspectives and ideas that I have not thought of before. Interview #4 made me realize that there is an unmet for products that heal discolored skin and bruises on the skin. Also, I realized that a foam-like substance would be gentle on the skin and wouldn't irritate it. 
    • From most of the interviews, I have gotten feedback about skin care products fitting their specific skin type. I think it would be a good idea to implement certain skin types into the skin care product I want to make. 
    • I believe that there is an unmet need for a single skin care product that has multiple functions and that is chemically designed specifically for the user.














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Friday, September 14, 2018

6A- Identifying Opportunities in Economic & Regulatory Trends





Identifying Opportunities in Economic & Regulatory Trends 

  • Economic Trend: Gap between CEOs' wage and average workers
    • Source:https://www.pbs.org/newshour/economy/making-sense/stock-market-boom-has-given-ceos-a-raise-what-about-average-workers
    • I believe that this may be an opportunity since there is factual evidence to back it up. The study was carried out by the Economic Policy Institute.
    • The prototypical customers are CEOs who make a lot more than their average workers.
    • I think exploiting this opportunity would be extremely easy for CEOs because they also get paid from stock, unlike average workers.
    • I saw this opportunity because I am interested in increasing the minimum wage for average workers. I do not think CEOs should make a ton while average workers can barely afford rent or living expenses.

  • Economic Trend: The Economy Needs More Workers

  • Regulatory Trend: Federal Aid Heading to Algae-affected Businesses
    • Source:https://infoweb.newsbank.com/apps/news/document-view?p=WORLDNEWS&t=pubname%3AFSNC%
    • I think this opportunity exists because there have been a lot of businesses that are currently being affected by the discharges from Lake Okeechobee. This is definitely an opportunity since the local newspaper talks a lot about the discharge pollution of the Indian River Lagoon and St. Lucie River.
    • The prototypical customers would be small businesses and nonprofit organizations that have been affected by the Lake Okeechobee discharges who are in need of money.
    • This opportunity is easy to exploit. The businesses just have to apply for loans through the US Small Business Administration website.
    • I saw this opportunity because it is a prevalent issue that has had a great impact on my hometown. 

  • Regulatory Trend: Don't Arm Teachers via Federal Grants
    • Source:https://infoweb.newsbank.com/apps/news/document-view?p=WORL
    • I think this opportunity exists because it wouldn't make sense to arm teachers using money from the Federal Government. For instance, "A Johns Hopkins analysis published in March, suggests that in the heat of the moment 'a consequences of a teacher pulling a gun could be disastrous.'"
    • The prototypical customers would be school teachers and their students who would be affected by said teachers.
    • The opportunity is somewhat difficult to exploit. There are many people who think teachers should be given guns in order to protect their classroom in case of a shooting. It would be unsafe for schools to arm teachers.
    • I saw this opportunity because I think teachers should not play the role of security guard, when they were trained to teach and only teach. The underlying issue would be gun control or the lack thereof. 











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5A- Identifying Local Opportunities



Identifying Local Opportunities







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Friday, September 7, 2018

4A – Forming An Opportunity Belief




4A – Forming An Opportunity Belief


I believe there is an unmet need in regards to improving the efficiency of the bus transportation system. Students who ride the bus have this need. Whenever there are classes during the week, the buses are delayed or filled with students. This need is not new. As long as there are students on the UF campus, there will be a need for better bus efficiency. Students are riding bikes, scooters, or other forms of transportation in order to get to class. I believe that the RTS system should buy more buses in order to prevent the overflow of people or students should use a different form of transportation. I am 60% sure this opportunity exists.



#1: Underclassman female who frequently rides the bus.
  • Have you ever used the RTS bus system?
"Yes."
  • Does the bus efficiency make you nervous about arriving to class on time?
"Yes."
  • How often do you experience the need for better transportation efficiency?
"I used to experience a lot of late arrivals to class."
  • How are you currently addressing the need for better transportation efficiency?
"Now I use a car so I can be accountable for my own arrival to class."
  • How satisfied are you with this solution?
"I love driving even though it's difficult to find a parking spot. Driving time is me time and I don't have to be in a crowded space on the bus."

REFLECTION: Students are content with their solution to the bus problem. Driving a car gives students more personal time and is faster than riding a bus.




#2: Male upperclassman who rarely rides the bus

  • Have you ever used the RTS bus system?
"Yes."
  • Does the bus efficiency make you nervous about arriving to class on time?
"Well, not anymore."
  • How often do you experience the need for better transportation efficiency?
"Not so often since I stopped riding the bus."
  • How are you currently addressing the need for better transportation efficiency?
"I just ride my scooter to campus since it is quick and efficient."
  • How satisfied are you with this solution?
"Very satisfied. I don't have to be on the bus. Plus, I get to places much quicker with my scooter.

REFLECTION: Upperclassmen who have experience with the bus system's lack of efficiency have already found solutions to the issue. They use various forms of transportation to prevent being late to classes.




#3: Male underclassman who frequently rides the bus

  • Have you ever used the RTS bus system?
"Of course. I ride the bus every day to school."
  • Does the bus efficiency make you nervous about arriving to class on time?
"Yes, I have to get on an earlier bus to make sure that I get to campus on time."
  • How often do you experience the need for better transportation efficiency?
"More than you'd think. I'd like to be able to get to class on time without having to stress out about being late to my classes.
  • How are you currently addressing the need for better transportation efficiency?
"I usually ride the bus earlier than usual. Or I just take a Lyft to school if I am rushing."
  • How satisfied are you with this solution?
"I do not like spending extra money on Lyft since the bus system is free. I would rather get up earlier to be on time than spend money on a Lyft. 

REFLECTION: Students who are not familiar with the bus system's lack of efficiency solve the problem by paying for transportation or planning ahead.  


SUMMARY:
I believe that there is still an opportunity. I enjoyed hearing others' insights on the bus efficiency issue, which made my opportunity more accurate.The students have found creative ways to solve the issue, whether it be using other forms of transportation or planning ahead. I think the customer's unmet need should always be addressed within a business while at the same time being true to the beliefs that started the business.


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3A – Your Entrepreneurship Story



3A – Your Entrepreneurship Story


To begin with, I have had the chance to be exposed to entrepreneurship while I was in high school. I had to do an internship in high school, so I chose to do a civil engineering internship. My boss was a civil engineer who opened a civil engineering planning business. He used to work for a bigger firm and decided that he did not like working at the firm. He started up a consulting business and organizes and manages the entire business. I helped my boss by organizing spreadsheets that contained the budget and all his expenses for his business. I have also attended client meetings with him that showed me the various fields that interact with a civil engineering business. Although I am not in the engineering field, I gained a lot of experience from the internship and from my boss. 

Secondly, I enrolled in ENT3003 because I would like to learn more about what it means to be an entrepreneur and what it takes to be one. I think it would be a good class to take as a business student.   I would also like to debunk any entrepreneurship myths along the way. I want a better understanding of the subject, even if I have preconceptions about what entrepreneurship is. Overall, I want to have an enjoyable experience in this entrepreneurship class. 


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Assignment 2A- Bug List


Assignment 2A- Bug List


  1. When your phone freezes and it does not respond to your touch.
WHY it exists: the phone may be taking on too much information at once, it is crashing essentially.

  1. When the RTS bus becomes too full and it gets super packed.
WHY it exists: The bus system is very efficient and can only do so much to prevent an overflow of people. It exists because numerous people want to go to the same place at the same time that live in the same area.

  1. When the person in front of you is driving under the speed limit.
WHY it exists: The person that is driving slow possibly is driving like that out of caution. They do not want to go fast and end up in an accident.

  1. When you are checking out and the cashier hands you your change so you have to hurry and stuff the coins in your wallet.
WHY it exists: The cashier must provide a timely check-out and not back up the line.

  1. When it is rainy outside and your socks become soaked.
WHY it exists: Wearing a different type of shoe, such as boots, will prevent your socks from getting soaked.

  1. When you are listening to music with earphones and the door ends up yanking them out of your ears.
WHY it exists: Getting too close to the door handle and not paying attention to your surroundings may cause this.

  1. When you are putting a USB into a computer and it doesn't go in the first time, then you flip it and it still doesn't go in.
WHY it exists: It is a matter of probability. There is a certain chance that you get the USB in correctly on the first try.

  1. When you go to various places to get a frappé and all of them are out or don't sell frappés.
WHY it exists: Frappés were in high demand and the restaurant ran out. Frappés are not what the target customers drink at other restaurants.

  1. When you walk into the kitchen and suddenly forget why you came in the first place.
WHY it exists: When you walk through a doorway, you forget things.

  1. When you are rushing to be on time and you keep hitting every single red light.
WHY it exists: The civil engineer who made the program planned for the lights to be red at a certain time. It just happened to be when you were late that the stoplights all were programmed to turn red.

  1. When the water in the shower isn't hot enough.
WHY it exists: The hot water could have been used earlier by someone else.

  1. Not having enough change or being off by one penny.
WHY it exists: You run out of change and cannot always predict how much your total will be.

  1. People chewing with their mouths open.
WHY it exists: Some people get into the habit of doing this or were not taught that this is seen as unpleasant.

  1. When you're running low on gas and there is no gas station nearby.
WHY it exists: The gas tank wasn’t filled up beforehand, waiting until the last minute causes this issue.

  1. When people leave you on read.
WHY it exists: People have various reasons to not reply to your text. They may be busy or just aren’t that interested in who they are talking to.

  1. Someone talking obnoxiously loud in public.
WHY it exists: The person does not know they are talking loud. The person may be angry or feeling a certain way, so they express it by being loud. Also, the person may be looking for attention.

  1. Tripping over yourself.
WHY it exists: You think that there is something in front of you and trip. There a possibility of you just being clumsy and not having enough coordination to keep yourself balanced.

  1. Not having enough money in your bank account.
 WHY it exists: There may be a variety of reasons why you don’t have money in your bank account. For instance, you could be poor at saving. You could splurge a ton on going out and being reckless. Also, you could not have a job that provides an income that is sustainable.

  1. Taking a nap that is longer than expected.
WHY it exists: An alarm is not set in order to wake up at the desired time. Similarly, you oversleep and don’t hear the alarm at all.

  1. Spilling something on you while wearing white.

WHY it exists: You weren’t careful enough while eating or drinking to prevent the spill. It just happens to be the day you wore white.

Reflection: 
This assignment was slightly difficult since I am not used to thinking about minor inconveniences and why they might occur. Once I had a few bugs down, I got writer's block and could not think of any more bugs. For inspiration, I just thought of some inconveniences that have happened to me during the worst possible time. By understanding the underlying cause of the issue, you gain more understanding of the issue itself. Having an entrepreneur's mindset allows you to see problems differently. In all, the perspective that this assignment asked for is interesting and allowed me to question the way I see the world and its issues. 
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