Testing the Hypothesis, Part 1

1.  

People with disabilities are unable to easily rent a wheel chair van when traveling. 

2.  

The who: People that are confined to a wheelchair, specifically disabled persons

The what: They are unable to easily rent a wheel chair van when traveling

The why: Because Enterprise and Hertz provide limited to no wheel chair vans available to rent and there is no convenient way for someone in need of a wheel chair van to rent one as easily as someone can rent a car from Enterprise at the airport

3. Testing the who: Various feedback was given and the general consensus is that the target demographic that would need these wheelchair vans are business men with disabilities or people and children with disabilities in general.  Generally, people that have an injury would not demand this product as much as the others

  Testing the what: There is limited to no wheel chair vans available at the major car rental businesses and after the interviews the conclusion was that it has to do with the supply and demand or the cost and demand. Meaning, not enough people with the need and simply too expensive to offer if there is not enough people with the need.  Now, this has to do with every airport in general, there is definitely a need in major airports, specifically Orlando International being the number one vacation capital.

  Testing the why: This is the place where a lot of people differed.  I simply blamed the current car rental businesses that are up and running where as my prospective customers blamed the overall need.  A few shot down the idea saying that if there was a need for this, a rent a wheel chair van would have already been up and running while others thought that there is a need for this it is just overlooked. 

https://soundcloud.com/jayme-bryant/amy-atkins

https://soundcloud.com/jayme-bryant/jocelyn-baker

https://soundcloud.com/jayme-bryant/michael

https://soundcloud.com/jayme-bryant/ben-baker

https://soundcloud.com/jayme-bryant/julia

Looking for Opportunity

Yellen: Rate hike "appropriate" in coming months

a.http://www.usatoday.com/story/money/2016/05/27/yellen-rate-hike-appropriate-coming-months/85037504/. The source of information was that the economy is improving so the bank is likely to increase interest rates.  The opportunity here is to keep your money in your savings as it will accumulate more money as the years pass. 

b. An opportunity exists here because everyone wants see their money to continue to grow by just simply leaving it in a savings account, or investing in stocks, etc.

c. The prototypical customer would be anyone with a bank account that wants to make more money or someone who wants to invest in stocks i.e. everyone

d. Yes, this opportunity is extremely easy to take advantage of.  When the interest rates go up because the economy is improving, is the time to keep your money in your savings and invest in the stock market. 

I found this opportunity because I am always looking for which stock markets are the ones to invest in at the moment and which hedge funds will generate the most interest. Other people might not be interested in the risk involved when investing in a stock market so they simply may overlook this opportunity. 

Men are Making More Money off of their Homes than Women

a.http://money.cnn.com/2016/05/27/real_estate/gender-gap-housing-market/index.html?iid=hp-stack-dom The source of information is that buying a home is a better financial move for men because male-owned homes appreciate at a faster clip. The opportunity is that single men can rely on their home 's equity for future money needed for investment.

b. An opportunity exits here because again, there is an opportunity to make a significant profit if you are a single man when putting your current home up for sale.

c. The prototypical customer is pretty narrow, any single-men homeowners.

d. This opportunity is easy to exploit as on average single men benefit from a 145% return on their homes sale price. 

I found this opportunity because real estate trends have always greatly intrigued me.  Other people may have no interest in finding out that their home equity has gone up because they want to live there forever, where as single men probably find it very useful since they most likely will continue to be on the move. 

1 to 4 major Atlantic hurricanes possible this year, NOAA says

a. http://www.cnn.com/2016/05/27/us/noaa-hurricane-forecast/index.html The source of information is that NOAA predicts this season suggests more hurricane activity, which leads to the opportunity for stocking up on basic items needed during hurricane season i.e. water, flashlight, lighters, etc

b. An opportunity exists here because there is a chance that major storms could impact the Atlantic coast, which everyone takes very seriously as past hurricane seasons have proven how severe it can get.

c. The prototypical customer is anyone along the Atlantic coast or near that is threatened by severe weather

d. The opportunity can be fairly difficult to exploit.  Many households wait until the last minute to go and buy all of the things needed to "survive" a hurricane and all of the items will already be sold out, so its a messy game of supply and demand.

I found this opportunity because I have been through a couple major hurricanes and know how informative this information is.  It is telling consumers to act now and get supplies when you can since the season is already predicted to be severe, rather than wait until the severe hurricane signal banner comes across your tv. 

Harvard Researchers unveil new Alzheimer's Theory 

a. http://www.usatoday.com/story/news/2016/05/26/harvard-researchers-unveil-new-alzheimers-theory/85004894/ The source of information is that beta amyloid, long considered the bad actor in Alzheimer’s, actually plays a positive role in fighting off bacteria.  This provides an opportunity for new routes for treatment and prevention. 

b. An opportunity exists here because if the study is true, previous ways of fighting off Alzheimer's could potentially be dangerous and other options that would stimulate the immune system would be safer and efficient. 

c. The prototypical customer is two fold, anyone that is affected by Alzheimer's and researchers that are finding ways to cure/battle the disease.

d. The opportunity is going to be fairly difficult to exploit.  While they now know that they need to not kill off beta amyloid, it is going to take a lot of trial and error to figure out a drug that combats the immune system enough to calm the prominent symptoms of Alzheimer's.

I found this opportunity because I know so many people affected by the disease and how it not only affects them, but their families too.  By now knowing what not to do, researchers are one step closer to finding a cure for this unfortunate disease. 

My Solution

In the previous exercise, I have pointed out that there is not proper transportation for disabled persons or people that are confined to a wheelchair, specifically from airports. My solution is simple in retrospect but requires a lot of effort- rent-a-wheelchair van.  It is a company that needs to be just as easy, quick and convent as Hertz and Enterprise except all wheelchair vans.  There will be a lot of investment that goes into it because of all the inventory needed. It requires a lot of networking and connections and fortunately my dad is in the car business so that connection is already there.  It is just a matter of putting in the time, effort and money to get a rent-a-wheelchair van business up and running.

Forming An Opportunity Belief

1. My belief is there is an opportunity for rent-a-wheelchair van

2. Orlando is the number 1 vacation capital of the world. Each year, millions of people fly into Orlando International airport excited to visit Disney World and all of the attractions on vacation.  Many families have a family member with a disability that requires a wheelchair or someone who has recently had surgery that is confined to a wheelchair. There are few to none wheel chair vans that can be easily rented at enterprise, hertz, etc. As of right now, families are having to accommodate their in need family member/friend in inconvenient and time consuming ways. I am 99.9% sure this opportunity exists.

3. The prototypical customer is anyone who is confined to a wheelchair.

4.  https://soundcloud.com/jayme-bryant/gramma
     https://soundcloud.com/jayme-bryant/brianna
     https://soundcloud.com/jayme-bryant/amanda

5. After interviewing my Gramma and two friends, who have both experienced this situation, it made me realize how much more relevant this unmet need is.  They all emphasized the convenience factor and how much time and effort it would save if they were able to rent a wheel chair van as easily as someone can rent a car. What was the most surprising was how many people just give up or do not even try to all Enterprise or Hertz to see if wheel chair vans are available because they know how much of a hassle it is and how little wheel chair vans are generally available. With each conversation I was surprised at how often we see someone in a wheel chair at the airport and do not even think how much effort goes into getting them from point A to point B.  I was also surprised at the amount of people that just call of their trips (like my Gramma) because there is no easy way for her to get places.

6. I believe that the opportunity is definitely still there, if not even more after talking to my prototypical customers. I believe that feedback is the key that keeps entrepreneurs thinking and tweaking their ideas; the world keeps changing and peoples' preferences keep changing, so feedback is what they thrive on.

Identifying Local Opportunities

1. House defense budget would fund relocation of airport St. Marys Airport poses security risks to nearby Kings Bay Naval Base

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15CFEA5A42D1E898?p=AWNB

The current location of St. Mary's airport is too close in proximity to Kings Bay Naval Submarine Base, potentially posing a threat. Navy officials have been writing the city because they cannot tolerate planes into their prohibited air space. The city wants to move the airport, but it is a matter of sufficient funds required to do so which means the House needs to come into play.

Problem: The funds required to relocate the airport and reimbursing the FAA along with a new location for the airport

Who has the Problem: This is a problem for the city, for they should not have approved the site for the airport within close proximity to a naval base. Because of this, they are now looking to the Defense Department to bear some of the costs.  This is also a problem for the Naval Base, for they consider themselves threatened with an airport that close to them.  This also means the city needs to be actively looking for another approved location.


2. Tests show fewer Duval 3rd-graders will face retention Results for most First Coast districts showed uptick in reading scores

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15CFEA5B2B777100?p=AWNB

With the release of results for third grade reading scores, overall the state of Florida showed an increase.  Duval county schools did show an increase, but rank the lowest among the Big Seven. The purpose of the scores being released was to identify which students would have to be held back and which would have to do summer school. Overall Duval is satisfied with their increase, but they are determined to close the gap even more with the Big Seven.

Problem: Duval county schools rank the lowest among the Big Seven districts in Florida with regards to third grade reading scores

Who has the Problem: The school district, as the student's parents will likely complain that the curriculum is not up to par with other local schools.  The student's have a problem, for they are not at the reading level necessary to "pass" the third grade.

3. 5-month-old found dead at unlicensed day care

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15CFEA5BEF11D5D0?p=AWNB

An unnamed adult was running an unlicensed day care out of her own home.  On May 20 she had a house full of at least 8 children when she had stepped out to go buy some soda.  Upon her departure an unnamed 17 yr old went to check on the 5 month old who was found unconscious.  The five month old died at St. Vincent's Medical Center.  While there had been suspicions that she ran a daycare, nothing was reported

Problem: Not only is a woman running an unlicensed day care, but it resulted in the death of a 5 month old

Who has the Problem: The unnamed adult as she started running an unlicensed day care which will get her into loads of legal trouble and not to mention the death of a 5 month old was on her watch.  The 5 month old's parents will also hit a road block when lawyers come into play since they were willingly bringing their child to an unlicensed day care. All of the other parents who rely on bringing their kids there will also face issues.

4. Condo defects cost DR Horton $9.6M Jury sides with Heron's Landing association

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15CFEA5C99F47478?p=AWNB

After countless complaints that Beach Boulevard structures violate Florida building ode that resulted in damages of $9 million, DR Horton denied the claim.  They blamed it on the owner association that failed to maintain the buildings, resulting in the current condition.  Dozens of people attended the closing arguments which is very rare regarding structural defects.  In the end the problems with the condo cost DR Horton $9 million.

Problem: Beach Boulevard structural defects

Who has the Problem: DR Horton, the nation's largest home builder, has the problem as they are now being questioned that all of their buildings do not meet Florida building code.  This is a problem for their home owners who have been paying to live in sub par living conditions which is now resulting in DR Horton having to pay $38,000 per condo to renovate Beach Boulevard.

5. Red snapper won't have open season this year Federal regulators say species has been overfished; anglers disagree

http://infoweb.newsbank.com.lp.hscl.ufl.edu/resources/doc/nb/news/15CFEA5AEC370BC8?p=AWNB

Federal fish regulators announced that Red Snapper will be closed to harvesting in order to increase the species abundance. Local fishermen are questioning the validity of this regulation, claiming that there is enough red snapper for an open season because of how frequently they catch the fish. NOAA claims that the number of red snapper being killed after being caught exceeded the fish limit by more than double.

Problem: Not enough red snapper for an open season

Who has the problem: Fishermen who rely on catching red snapper each year will no longer be able to.  If fishermen bend the rules, which often is done, red snapper will be very scarce.  This would then result in a problem with the Federal fish regulators and NOAA.

BUG LIST

1. When you are pulling up to a toll plaza and have your money ready but the person in front of you at the booth is still digging for change or asking for directions from the toll booth collector.
WHY? because drivers have not planned ahead and do not have their money ready, or they do not have enough change and do not want to go through and get ticketed

2. When you have waited in line for an hour to get through security at an airport but the people in front of you have not emptied their pockets/taken off their shoes/removed belt/computer in separate bin
WHY? because the people are not paying attention and have not read the signs or are simply not in a hurry like everyone else usually is in an airport

3. When people do not use their turn signals
WHY? because drivers have gotten out of the habit of using their blinker or they do not find it necessary to let the other drivers know when they are turning or changing lanes

4. People that talk too loud on their cellphones in a public place
WHY? maybe they do not realize the volume of their voice or cannot hear the person on the other line which causes them to speak louder

5. When there is only 1 checkout counter open at Publix with a line of 20 people deep
WHY? because there are not enough employees working to open another checkout line

6. When you cannot watch TV bc 2 things are already being recorded on the DVR
WHY? because the DVR is unable to store and record more than 2 tv shows at once

7.  When you make an appointment at the doctor but you still wait for a significant amount of time in the waiting room
WHY? the patient before you is taking longer than expected or the doctor overbooked himself

8. When parents do not step outside or into the cry room when their children are crying at church
WHY? because they do not realize how distracting it is or do not feel like getting up and missing the message

9. When you hit turbulence on a plane
WHY? because the weather surrounding the area is bad

10. The length of the Starbucks line at West during exam week
WHY? because everyone is cramming and needs caffeine to stay awake

11.  When you are getting an oil change and the mechanics try and get you to buy everything that could enhance your car even though it is not necessary
WHY? because they are marketing themselves and trying to make more money off of the customers

12. When you drive to the library during exam week and spend 30 min looking for a seat only to realize that none are open.
WHY? because there are not enough seats to accompany everyone at UF at once and a majority of students go to the library during exam times

13. When you think you finally find a parking spot but a scooter is parked in it
WHY? because it is the only available parking spot the scooter could find

14. When you park your scooter under your apartment complex and get towed when there are no signs that indicate that you cannot park there or that it is a tow away zone
WHY? because the towing company has a contract with the management of the complex that gives them permission to do so

15.  When you get to the airport only to find out that your flight has been delayed
WHY? because severe weather affected the arrival time or something needed to be fixed before take off

16. Motorcycles that swerve in and around cars during traffic
WHY? because they think that since they can fit they can do that

17.  When you only want to leave someone a voicemail, but they answer the phone.
WHY? because there is not an option to just simply leave a voicemail

18. When all of the radio stations are on commercial break at the same time
WHY? because the coincidentally all have the same schedule

19. The traffic on Archer at 5 o'clock
WHY? because everyone is leaving campus from class and trying to get to dinner

20.  When Kanye West releases a new album that can only be listened to on Tidal which a majority of people do not have
WHY? because it makes the artists more money

I found coming up with this list very difficult because I tend not to think too negatively.  It took me about 3 days to figure out what really bothers me and I went about my day and when something happened to me/or i just realized a bug, I wrote them all down in the notes on my phone.  It did really help not trying to sit down and think of this list all at once, but rather going about my day and intentionally trying to find things that truly were a bother.

My Entrepreneurship Story

Ever since I was very young, I have been exposed to entrepreneurship like thinking.  My dad started his own car business at the age of 19 and continues to run that business to this day.  He always has me thinking of problems in this world that can be solved by an invention, service, etc.  Not only is my dad an entrepreneur, but I have been watching Shark Tank for years.  It is my goal to get on Shark Tank and accept an offer with any of the sharks.  Daymond John, an investor on Shark Tank, came to UF last year as an Accent speaker and I had the privilege of going.  After hearing his speech on how many times he failed and the hardships he overcame to get to where he is today with a billion dollar net worth, was so inspiring.  It is motivating to know that a flash of genius can come at anytime, it is just a matter of being willing to fail and come back even stronger from that failure. 

I enrolled in ENT 3003 because I am considering a minor in entrepreneurship; ultimately, I am trying to see what that would entail.  I hope that I learn to see the world differently and think more like an entrepreneur.  I want to be able to generate a business concept and bounce ideas off of classmates.  I get very inspired by hearing other people’s ideas and how they perceive the world because it exposes me to different world views.  ENT 3003 looks like a promising course that will touch on all of these hopes and wants and provides the experience needed to think more like and entrepreneur.

(Daymond John recommended this book during Accent at UF)

TEST BLOG

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