6A- Identifying Opportunities in Economic and Regulatory Trends

-
For this assignment, I searched for four opportunities related to economic and regulatory trends:

1. The first opportunity related to economic trends that I could come up with is technology in the housing market. As the housing market continues to grow in this country, more technological products continue to be developed. Examples of this include the new alarm systems and the "smart" locks that record you as you ring the door bell. Innovation in this market will only continue to grow with the emergence of satellite WiFi by Google. The prototypical customer would be someone who is buying a home and wants the latest technology available. I found this opportunity by reading a real estate magazine. My future desires helped me to form this opportunity because I started thinking about how profitable it would be if I could create a product that is sold on a mass scale to every home buyer in the country. This opportunity would be difficult to exploit because it would be costly to develop a product that could compete with the more familiar companies in this market. 

2. The second opportunity related to economic trends in the current market is job outsourcing. If a company can enter a competitive industry and outsource jobs, it will spend significantly less than its competitors on labor and they could have the potential to take over the market. The opportunity I thought of was to start up a business whose goal is to find potential workers for other companies that are looking for outsourcing.  I found this opportunity while watching CNN probably because I've always been interested in how business works at the international level. The prototypical customer 
 would be companies interested in outsourcing that have the capital to pay for our service. This opportunity would be difficult to exploit because it would require us to have some sort of connection with someone in China. 

3. Looking at regulatory trends, opening up a restaurant that sells liquor is heavily regulated, expensive, and requires a license. This doesn't stop the thousands of places around the country from not paying for the license because after a year of operating they begin to profit due to the high demand among Americans for alcohol. This could be an opportunity for a company that sells a substantial product in the liquor industry (such as a cup that stays cold for beer), to partner with an up and coming restaurant so that their cup can be used by people who order a beer. I thought of this opportunity while eating at ale house today. The prototypical customer in this scenario would be restaurants, specifically, sports bars would work best for this cup. This opportunity wouldn't difficult to exploit because it wouldn't be too expensive to produce this cup in comparison to something in the tech industry. 

4. The last opportunity I found related to regulatory trends was based on cryptocurrencies. The crypto industry is expected to see regulation in place to support new crypto projects. One opportunity I came up with based on this is starting up a company that teaches people how to trade crypto. I would have to become very knowledgable on it before I could do this so it could be difficult. The advice would be based on recent reports of changes in the industry and regulation.  The prototypical customer would be an aspiring crypto trader that needs someone to guide them through the beginning phase. I thought of this opportunity while seeing my roommate trade crypto and it's based on my desire to make money by investing.



Comments

  1. Hailey HerseyFebruary 7, 2020 at 1:22 PM

    Hi Felipe, overall your responses are great, very detailed and easy to understand. I took a different approach when completing this assignment and looked up news stories relation to economic trends and regulations, but I like that you were able to think of relevant events on your own. For instance, I agree that as technology becomes a greater part of our lives, your points about new tech within the housing market and cryptocurrencies are opportunities we should all be aware of.

    ReplyDelete

Post a Comment

Popular posts from this blog

29A- Venture Concept No.2

-
Image
1.                                                                                                                                     Scanno Opportunity:  The opportunity I am attempting to exploit with my product relates to the unmet need among consumers of major retailers. In this day and age consumers want to make their life as easy as simple and easy as possible. Customers want to have the best experience possible when they go to the store and this is the main reason why big retailers are willing to spend loads of money on the customer experience. There will be a high demand among retailers for this product because not only will it increase t...
Read more

26A- Celebrating Failure

-
Earlier this semester I decided I wanted to try the ketogenic diet. I heard of all the health benefits this diet could bring and the success people have had losing weight with it. I set a goal to go keto until the end of the semester. I slowly starting taking out certain foods from my diet such as potatoes, pasta, and bread. Each of these foods made up a major part of my diet so I was expecting to see results soon. After about two weeks, I noticed that my energy was increasing and I wasn't feeling so bloated all the time. It was getting hard to handle my cravings but I was satisfied with the results. By the time February came around, I had lost 10 pounds. Around this time, I started to miss pasta more than anything. Italian food has always been my favorite and I was having a weak moment. One weekend my mom made my favorite carbonara pasta and I decided to have a plate. It tasted like the best pasta I'd ever had in my life after a month and a half of being keto. As a result, I d...
Read more

4A- Forming an Opportunity Belief

-
I do believe that an opportunity exists. The unmet need is universal self-checkout lines. Any business with a register would have a need for this. The reason being is that if all registers were self-checkout then the store could allocate more employees to stocking or reduce the cost of employment by firing inefficient workers. Although this requires someone to check receipts at the exit, but this cost is minuscule compared to the amount the store would be saving. This is a need that has existed, and certain corporations have begun their stride towards it. I am 80% sure that this opportunity exists. The prototypical customer would be an owner or manager of a store with a register within it. Due to a wide personal network, my father has a few friends that own their own stores. I spoke with a 7-11 owner and from my interview with him one of the key concerns is labor productivity. He has had this need ever since he opened this business. As of right now, to counter the lack of productivit...
Read more