Economic & Regulatory Opportunities

Here I will be finding opportunities within current economic trends and regulatory changes.

1) Currently, there are no federal requirements for paid sick leave. I found this information of the U.S. Department of Labor website. This information suggests that an opportunity exists because it shows that nearly everyone is the work force  has an unmet need. if they were to fall ill or have an accident, they are not guaranteed payment as they recover. This is an issue because this often leaves families with no way to pay for medical bills, or still going to work under unfit conditions. I feel that this opportunity may be relatively difficult to exploit because it requires governmental action to reform the law. However, an entrepreneur may see if there is a way to create a new insurance cover sick leave.
https://www.dol.gov/general/topic/workhours/sickleave

This is something that I noticed as an opportunity because I have seen the detrimental effects of unpaid sick leave first hand. My dad had broken his back while working, and was in recovery for months. This meant there was absolutely no income for our family.

2) After a Cosmetic Ingredient Review, the Food and Drug Administration determined there was no reason to alter the CIR's previous conclusion that Parabens are safe for use in cosmetics as found on the website for the National Bio monitoring website. This is a massive opportunity because conflicting scientific research states that Parabens are harmful to human's hormonal health, and people who prefer holistic products are becoming increasingly aware of the health issues linked to Parabens found in cosmetics. I feel that this is a fairly easy opportunity to exploit because natural care companies could start to develop cosmetic that exclude harmful Parabens.
https://www.cdc.gov/biomonitoring/Parabens_FactSheet.html

This is something that I noticed as an opportunity because I personally struggle to fuind options that don't include Parabens in hopes of benefiting my future health.

3) Last quarter, 68% of the U.S. economy was comprised of consumer spending.One fifth of the consumer spending was on non-durable goods such as clothing and food according to the U.S. Bureau of Economic Analysis. This is quite a bit of expenses toward non-durable good. this opportunity with this is we live in an abundance society which means we are producing more goods than are being bought. Although this may not impact one individual directly, it dos overtly effect the environment. Mass production lends to more greenhouse gasses, and non-durable products that are cheap to produce equate to more waste. I feel that this is a relatively difficult opportunity to exploit as it would require a joined consciousness on the issue because mass production is highly efficient and not many people are willing to seek alternatives.
https://www.bea.gov/data/consumer-spending/main

This is something I noticed as an opportunity because I have recently becoming hyper-aware of the waste that non-durable goods are causing and I was shocked to learn how much of the economy it consumes.

4)There is a missive hiring shortage as pointed out on CNBC News. This is a problem because there are more job positions than there are people to fill them, causing businesses to fail which has a negative impact on the overall economy. This is directly effecting business owners.I feel tat this may be a difficult opportunity to exploit due to the downward trend in employment, as well as new and enforcing labor laws, as well as immigration laws.

https://www.cnbc.com/2018/07/05/the-us-labor-shortage-is-reaching-a-critical-point.html

I recognized this opportunity because I have witnessed local businesses shut down because they did not have the work force required. I decided to explore whether this was a national issue and was surprised to the hiring shortage has become a crisis.

Local Opportunities

Identifying Opportunities in the St. Augustine Record

I am from the small city of St. Augustine, Florida. In this post, I will be listing five news articles that discuss a problem a person or organization has. 

I will be:

• Describing the story and the problem within the story
• Identifying who has the problem

1) Florida Lawmakers Vowing to Crack Down on Pollution that Contributes to Algae Problems

https://www.staugustine.com/news/20200120/florida-lawmakers-vowing-to-crack-down-on-pollution-that-contributes-to-algae-problems

• In St. Augustine,  higher levels of pollution coming from municipalities has led to the over blooming of algae in the inter-coastal and beaches. In the past, lawmakers have not taken action to stop this excess pollution, but rather would spend excess money on the environmental cleanup. This year, lawmakers are proposing laws to regulate pollution, including a bill that enforces increased financial penalties for sewage spills.
• The major problem within this story is the fact that homeowners with septic tanks, agricultural operations and sewer systems are all major causes of pollution in the water, thus contributing to the overgrowth of algae. This algae is imperative because it is causing significant death of our oceanic wildlife and making water unsafe to swim in.
• The people who are dealing with the impacts of the overgrown algae include the local government who is responsible for funding the sewage spill cleanups, as well as local citizens who are warned to stay away from unsafe water. 

2) Florida Students Will Start Receiving Mental Health Classes in 2020

https://www.staugustine.com/news/20191231/florida-students-will-start-receiving-mental-health-classes-in-2020

• Florida school systems will now require students grades 6-12 to take five hours of mental health classes aimed at suicide prevention and substance abuse. This initiative was started after the school shooting in Parkland in 2018 which drastically affected the mental health of students.
• The problem being addressed in this story is the increased suicide rates noticed by teenagers in the past few years. 
• The people who are experiencing this problem are the teenage student across Florida.

Identifying Opportunities in the Cincinnati Enquirer 

My mother is from Cincinnati, Ohio, so I decided to look into the Cincinnati  Enquirer to look for some more opportunities.

3) ER Doctors Keep Prescribing Fewer Pain Pills. Is That Good or Bad for Patients in Pain?

https://www.cincinnati.com/story/news/2020/01/19/pain-pill-prescriptions-plummet-hospital-emergency-departments/4452561002/

• Laws are increasingly being enforced in efforts to prevent patients from leaving hospitals with pain killer prescription after the opioid crisis. The decrease in prescription simultaneously means educating patients on how to deal with "acute pain" from broken bones or minor surgeries. Doctors are trying to help patients treat pain in safe ways and avoid the possibilities of drug abuse. Particularly in Ohio, prescriptions for acute pain have been limited to seven days.
• The problem being outlined in this story is that some patients are being severely under-treated for intense pain. Patients are returning to the ER after discharge with extreme pain due to being told to use Tylenol as opposed to a prescription pain killer.
• The people who are dealing with this problem directly are the patients who are not being properly treated for their level of pain. However, lawmakers and doctors too are being affected by this in the decision making process to determine when prescription drugs are necessary.

Identifying Local Opportunities in the Atlanta News

I decided to look into one more local newspaper to identify more opportunities that could be addressed.

4) Atlanta's Beloved Hosea Helps Needs Funds for Building Renovation

https://www.ajc.com/news/local/atlanta-beloved-hosea-helps-needs-funds-for-building-renovations/mt6CjUKWNxC7FeuyGrJTGK/

• Hosea Helps is a local food kitchen in Atlanta, Georgia. Recently though, Hosea Helps is in need of drastic renovations. Currently, Hosea Helps is in the process of buying a new location that would bring together their kitchen, store-house and staff into one large building. 
• The problem identified in this story is that the project will cost in all, $2 Million, which is to be composed completely of donations. Hosea Helps is a crucial part of the Atlanta community that is in need. 
• The financial costs are not only impacting Hosea Helps as an organization, but also the homeless population in Atlanta that relies on Hosea Helps to get back on their feet.

5) Georgia Lawmaker Seeks New Curb on Vaping

https://www.ajc.com/news/state--regional-govt--politics/georgia-lawmakers-asked-for-new-curbs-vaping/h7KzRSy4Loxp6Wa7YrpN7N/

• The number of vape-related deaths in teenager  is rising rapidly. Georgia Legislature is looking at ways to restrict vaping. The legislation that has been proposed includes raising the vaping age to 21, as well as incorporating education about smoking into the school systems.
• The main problem being discussed within this article is the drastic number of teenage fatalities related to vaping products. 41 deaths have been reported by the Georgia department of health in the past year. 
• This problem is directly affecting the health of teenagers in Georgia. It is also affecting the state legislature as they look for solutions to effectively enforce vaping rules and efforts without causing a spike in the sale of illegal acquisition of vape products.

OPPORTUNITIES

My Opportunity Belief

Of course I can see that there are many opportunities in my daily life that could be addressed. For this post, I will be discussing my belief in one particular opportunity: the icky, sticky key boards on the computers at the Marston Library.

Keyboard Crisis

I have noticed increasingly over the year, the sticky gunk that piled up on the computer keys in the Marston Library. What is the unmet need here? The need for a clean work space where students don't feel like they're catching influenza with each keystroke. So that brings me to my second point- it is the students who are experiencing this need. The staff certainly isn't doing anything to meet this need. Few students are doing anything about this need either. I do see the occasional, germ-conscious student (i.e. me), pull out a tissue or wet wipe and clean the keys before getting to work. But this is far from a sustainable solution. I suppose this need hasn't always existed, but it was more of a gradual awakening. The compilations of thousands of students fingerprints and snack crumbs coated the keys over the year until it became an obvious ordeal. I am quite certain that this opportunity- the sticky keys in the Marston Library exists.

Gathering the Data

I set out to see if this opportunity is a solid one in the eyes of others. I interviewed three prototypical "customers" anonymously. The first interviewee was a senior student and avid Marston study-goer. The second was a staff member at the Marston Library. The third was a janitor. I asked each of them the same series of questions: 

1. What is the exact nature of the need? 

2. When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?

3. How long have they had the need?

4. When did they first become aware of their need? Why? 

5. How are they currently addressing their need? 

6. How satisfied are they with this solution?

 Listed below are my findings.

Senior Student

1. The student described the nature of this need as something that is not absolutely dire, but they did admit that is was something worth addressing.

2. The student answered how I supposed they would. This isn't a need that they are aware of constantly. They only experience this need when they are using the computers in the Marston library. The student did point out however, that they spend roughly eight to ten hours a week in the library, which is a significant amount of time to be thinking about sticky keys.

3. This student is on her fourth year at the University of Florida and claims to have been experiencing this since her freshman year of college.

4. The student first became aware of this need their freshman year of college which began approximately four years ago. As a sheltered freshman coming from the cleanliness of her own home, the sticky keys in Marston were very apparent the first day stepping foot in the library.

5. Independently, the student carries wet wipes in their back back to wipe down the computer keys before using them.

6. They explained that this solution works perfectly well for them. However, they explained their concern for the spread of germs for other students who don't personally clean the keys before using them.

My Reflection: I learned that my opportunity is not just apparent in my eyes, but it affects other students well. The most surprising thing about my interview with this student was how very similar their experiences in the Library were to mine. I also learned that this opportunity is entirely valid in regards to the student body.

Staff Member

1. The staff member initially didn't recognize this opportunity. However, after describing the situation to them, the staff member said they they could see how this is relevant, but wouldn't describe the nature as something that needs to be solved by staff.

2. The staff member doesn't actually experience this need at all. They explained that the computers they use are always relatively well kept, and they aren't directly affected by the student computers in the library.

3. The staff member does not personally have this need.

4. They only became aware of this need during this interview. Apparently it has not been brought up by another student.

5. The need is non-existent for them thus it is not being addressed. They did say that if they were in the student shoes, they would just bring wipes to clean the key boards before using them.

6. The solution they came up with seemed perfectly acceptable to them.

My Reflection: This interview made me realize that my opportunity does not necessarily affect everybody who is in the Marston library. I was very surprised to hear that the staff worker proposed the same solution that many students are already attempting by bringing something to clean the keyboards with.

The Janitor

1. The janitor says that the nature of this need is something that could be addressed because they understand the uncleanliness of the keyboards.

2. The janitor admits that occasionally when cleaning the floors in the library, it occurs to them that the computers might be dirty as well. However, this is not a need that occurs to them frequently.

3. They have had this need for the past two years whilst cleaning other areas of the library.

4. The first became aware of the need when someone spilled a drink on the computers and the keyboard had to be replaced. As the janitor as cleaning up, it occurred to them that the other keyboards must be dirty too after being touched by so many hands.

5. Currently, the need is not directly affecting them, nor has it been brought to their attention enough to be addressed.

6. They were somewhat displeased with the fact that a solution hasn't been found for this. They said cleaning each individual keyboard would be far too time consuming, and that it wasn't a quite big enough issue to invest a lot of time and money.

My Reflection: I learned that although other recognize this opportunity, perhaps it is not quite big enough to be thoroughly addressed. It seems to be an opportunity that many students have self solutions too, and it doesn't have a large enough effect on others to invest time and money into it.

Conclusion:

All in all, not much of my opportunity remains. I see now that most students who experience this opportunity and are affected by it have come up with their own way to remedy it. I do believe that my initial opportunity is still accurate, however, it is not as widespread as I might have imagined. 

Entrepreneurs in general should definitely heavily consider customer feedback. If they find an opportunity that affects enough people, but not others, it is OKAY to stay firm in their opportunity. However, if they elicit enough customer feedback that skews the accuracy of their initial belief in their opportunity, it may not be worth it to pursue a solution to the opportunity if no one else is willing to engage.

MY Entrepreneurship Story

Entrepreneurship and Holly

When promoted to write about my entrepreneurial experiences, I initially thought I had none. When I took a deeper look into my life and the people in it, I realized I have encountered many entrepreneurs.

My Own Rendition

You could say I started out as an entrepreneur at a very young age. Yes, it all began in my grandmothers basement at the age of 8. There weren't exactly many thrilling endeavors at my grandmother's house in Ohio, so it was up to my little brain to come up with ways to occupy my time. Apparently my brain wasn't so little because I started brainstorming ways to occupy my time and make some cash. One summer, a scoured my grandmother's basement looking for miscellaneous

object for my invention. My most prized invention was what I called the "Glow Buddy" which was indeed just cotton balls taped to old light bulb with a smile face sticker on it. As a young entrepreneur though, I marketed these as incredibly lovable creation that added a cloud like glow to any room. I sold them for two dollars a pop to every member in my family.

In My Family

Perhaps a more relevant example would be my sister who is quite the entrepreneur herself. She too up an an online sales job selling Japanese Kangen water machines (some boujee form of a medical-grade water ionizer). Maddie didn't adhere to the pyramid scheme she had joined. She wasn't interested in selling these machines to hospital sin Japan. SO she invested in a portion of the company and completely re-branded the idea of the machine, advertising all of the ways it could be used in the common home. She built up a team of associates who began selling to local companies and homeowners. Although Maddie is selling a product that was already invented, she took an entirely novel approach to this machine, thus making her a rather successful entrepreneur.

ENT 3003

Honestly, I enrolled in this class because it is a requirement for my major. However, this is actually the class I am most excited about. I think the concept of entrepreneurship is fascinating and I am excited to learn more about it's inner workings. I hope to understand how entrepreneurship can be a lifestyle and not necessarily just a "job." I'm hoping this class will open my mind to more entrepreneurial options in my future endeavors!

BUGGIN' OUT

What Bugs Me?

Here is a compilation of my absolute pet-peeves followed by an explanation of why these things are a problem in the first place!

1) People who don't use basic manners. I mean, seriously- how difficult is it say thank you after the bus driver drops you off?
WHY: I believe this "bug" exist as part of a a culture straying away from face to face communication entirely. This could be due to technology such as smart phones and their growing prominence.

2) When people (family members💀) don't turn off the light when exiting a room.
WHY: This "bug" may exist due to my sibling lack  of understanding of the literal costs of keeping the electricity running. After all, they don't pay the utility bill!

3) Sit down restaurants (Yes beloved Olive Garden, I'm talking about you) that serve lukewarm pasta.
WHY: any restaurants today are choosing efficiency over the quality of their meals. This is a results of a culture that demands instant gratification.

4) The turning lane stoplight on Archer Road that stays green for only six seconds causing major traffic and road rage.
WHY: This is probably because the traffic light time was set back in the day when Archer Road wasn't so hectic. Now that Archer Road is a constant rush hour, it would be plausible to reevaluate the light timer.

5) Receiving parking tickets for parking in "unmarked spaces" on UF campus. I mean, if there's no marking, how was I to know not to park there?
WHY: The UF Police does their best to regulate illegal parking, but perhaps they don't consider what the student sees when they go to park.

6) The sticky computer keys in the Marston Library. Ew.
WHY: At a large university such as UF, cleanliness of computer keys is probably not high priority on maintenance's list.

7) When accounts on Instagram get suspended for talking politics. Isn't that a violation of our first amendment or something?
WHY: Instagram's policy states that accounts posting slanderous or hateful comments are subject to suspension, but they review enough to see that not all political jargon is offensive.

8) The improper use of "your" and "you're." It's basic grammar.
WHY: I believe that people know the difference, they just don't acknowledge it. This is largely due to the auto-correct feature on our smart devices so we don't have to worry about our grammar. This is lethal in written work though.

9) When people cough into their hands instead of their elbow. Perfect way to spread more germs, am I right?
WHY: It has been instilled in us since we were children to cough into our hands. It's hard to break this germ spreading habit and adjust to coughing into our elbows instead.

10)  Inconvenient placement of recycling bins, For example, the back of Phase 2 of my apartments.
WHY: Companies fail to recognize that if people can't readily reach a recycling bin, they won't recycle.

11) The cracks on the ends of the blackout curtain that allows light to get through and wakes me up before my 9:30 class.
WHY: The blackout curtain is already doing it job by keeping out the majority of the light, so manufacturers would never waste time or money on this trivial problem.

12) When there are group projects in an online class.
WHY: Professor's understand the importance of collaboration without understanding the whole reason we take online classes is so that we don't have to rely on someone else's schedule.

13) When command hooks fall off of the wall and my pictures break.
WHY: I do think this a consumer's problem. We are hasty and do no thoroughly follow instructions so the product doesn't work to it's fullest potential.

14) When pet dogs are left outside on a chain.
WHY: Human's lack of nurturing for a pet and understanding that dogs need attentive care.

15) When people flake out on plans last minute after I've done my makeup.
WHY: Our society has progressively taken commitments less seriously due to the lackadaisical culture we have surrounded ourselves by. Often times there are no real repercussions.

16) No-show socks that roll off my feet in my shoe.
WHY: Perhaps I'm buying the wrong size sock, or perhaps no-show socks aren't popular enough to have come up with a solution to socks coming off inside the shoe.

17) Nail polish that chips after the first day.
WHY: I tend to have nervous habits that include picking at my nails. There should be a sturdy nail polish to with stand this.

18) Walmart.com stopped doing their price match refunds.
WHY: I consider this a "bug" because I relied on this feature to get money back for things I may have over payed for. Walmart probably stopped doing this because they were loosing revenue.

19) Batteries that don't last more than two weeks.
WHY: In our society, often times frugalness is placed over quality. Producers have made it so a pack of batteries isn't so expensive, but they don't last nearly as long.

20) That relaxing is now considered being lazy.
WHY: This is a fast paced world and people expect you to push forward for the sake of a quickly advancing society. There is a failed understanding that if you are well rested, you are not productive.

Reflections:

Compiling this list of bugs was much more difficult than I imagined. As I was coming up with pet-peeves, I became embarrassed by the things that bother me- quickly realizing they were first world problems. Furthermore, I feel that we complain so naturally, so when we are forced to list out our bothers, our mind goes blank! I found myself scouring every inch of my life to find 20 things that legitimately bug me.

Welcome to my ENT3003 Blog

My name is Holly Dixon. I am a junior at the University of Florida and this is my first time taking and entrepreneurship class!