Final Reflection

As soon as I saw the description of this post, I knew I was going to enjoy writing it.  This class truly has been an adventure, or more of a roller-coaster.

1) The first few assignments in this class were strange.  We had no idea what our venture concept would be, I actually had no idea that we WOULD have one.  We were still doing opportunity searches and I remember coming across some really funny ones in the news.  Some guy regularly stole plants from a pizza parlor north of University Ave.  On the other hand, I remember absolutely hating how tedious some of the early work was.  We had to do interview after interview and numerous trial-and-error experiences eventually led me to an interesting venture concept.  The way I used to write up my interview posts was horrendous.  I think the weirdest assignment we had was the one where people had to say nice things about me.  I had 4 friends who had genuine answers, even though we couldn't stop laughing while recording them.  And then I also had one guy reading off of a script because it was late at night and I couldn't call anyone else to do it.

2) This kind of goes along with my previous one.  I think the lectures will stand out to me for the longest.  Dr. Pryor is a very interesting character and I'll remember many more of the tips he's given than what I've written.  My most joyous experience was doing the voice recordings.  It started out as a roast session, so it was really fun.  I'm most proud of myself for finishing this class and not purposefully tanking all of the assignments.  I'm in a difficult situation right now where I couldn't really prioritize this class, so I've been worried that my grade in it might take a huge hit.

3) I don't see myself as an entrepreneur just yet.  However, the idea is extremely intriguing to me and I think about it every day.  The mindset has definitely been ingrained in my head and I don't see it leaving anytime soon.

4) My biggest recommendation is to pick an opportunity that you can actually work with for a long time.  I was worried about mine because the opportunity doesn't actually exist yet.  However, I was able to work through and find good answers to all of the questions that were asked.  To perform best in this course, attend lecture and take notes.  The lectures will help you with everything:cupcakes AND the assignments.  To be honest, the class seems like a b.s. elective that you can just worry about later.  However, it requires real work and tenacity to push through.  Come into the class understanding that it is a real class and will be beneficial to you in the future.

Venture Concept 2

Opportunity-
Marijuana is a huge deal in the United States of America right now.  Individual states across the country are legalizing it left and right.  Canada in its entirety just legalized it.  Currently, the state of Florida is making progressions towards its legalization.  It’s already legal for medical use as long as someone has a medical card and the possession of marijuana has already been decriminalized.  Soon, the recreational use of it will be legal and the market will open.  I’m defining my main market as any college-aged Florida resident.  Marijuana is already very popular amongst college students and it isn’t even legal yet.  Imagine the business it’ll bring in when it’s legal!  Currently, customers are satisfying this need illegally.  I won’t name any names, of course.  However, customers are likely going through the process of contacting a dealer, setting up meetings with said dealer, and going to that dealer to purchase marijuana from them whenever they are in need.  They won’t have to be loyal to this method once marijuana is legalized.  This is mainly because there will be legal options while unlicensed dealers will still be illegal.  This opportunity is massive!  It has seen huge success in other states that have already legalized it.  Once it’s legal in Florida, the result won’t be any different.  The window of opportunity is tiny, though.  I’m sure that I’m not the only one with this idea.  I just have to be the first to act. 

Innovation-
This isn’t exactly a new idea, but it is one that will greatly benefit this market.  Delivery services are definitely the new wave.  If you have been watching my elevator pitches, you know that they have the potential to be a huge success.  My business would take advantage of this opportunity and a major trend in the tech world.  I would set up individual, licensed stores that serve as physical points of sale.  At these stores, customers can browse a carefully-chosen selection of strains and purchase them for roughly ten-to-fifteen dollars per gram.  On top of that, I would have a delivery service under the same brand that will deliver the marijuana to the customers for roughly $5 (not including a tip), depending on where the customer lives and current events in the area.  This will not only benefit a customer who is too lazy, likes doing everything through a mobile device, or is too high to make it to the store, but it will benefit my business.  This will allow my business to attract more customers and add value for customers who already shop at my store.  To give a more concise description, I will utilize a mobile app and a website where customers can place their orders.  I want a very large selection, so it will almost be like reading a take-out menu for weed.  With a sleek enough design, good photos, and a user-friendly interface, I think that this modernization will greatly benefit my business.

Venture Concept-
Customers would switch to this new product in a heartbeat.  It’s legal marijuana!  We don’t even have it here yet!  As soon as it’s legalized, if I am able to get into the market quickly enough, it will be extremely easy to get customers to switch from dealers to my business.  There are likely thousands of potential competitors, but very few will be real competitors.  These competitors include dealers and other entrepreneurs in the field.  Their weaknesses will be a lack of innovative ideas and being too slow to capitalize on the legalization.  Packaging and my price points will likely be up to the market and what the norm is for these things.  Marijuana is heavily regulated in states that it is legal, so I’m expecting similar regulations.  However, distribution, customer experience, and business location are going to be crucial to my differentiation from the competition.  Because I will have a delivery service, my customers’ experiences, the distribution process, and the location of the business will have to be taken into account when making every single sale.  I would hire two or three main teams of employees.  There would be a regular sales staff that works in the store, a delivery staff, and an optional third staff that actually produces my product.  Of course, I would need managers at the head of each of those teams.

3 Minor Elements-
1) My most important resource is my social capital.  I have connections with very successful businesspeople that can assist me as mentors and potentially connect me with strong clients
2) I’m not too sure what the next opportunity in the venture would be other than expanding across the country
3) I definitely want to be extremely successful in whatever I do.  So, my goal would be to become one of the top, if not the top, marijuana brands in the country.

I didn't really get any suggestions on anything I should change.  My comments were mostly just supporting my answers for what my advantages are and could be.  However, one commenter gave me an idea on how to keep up with the quickly modernizing world.  He mentioned that I should use apps, which I was already planning on using, but didn't mention it.

Based on this feedback, I gave a better description of the technology side of my innovation.

Reading Reflection No. 3

The Art of Social Media: Power Tips for Power Users by Guy Kawasaki

1) The main theme and purpose of this book is to give tips and tricks for treating your social media like it's a business to help it grow and gain attention from the masses.  A few of the main tips involve grabbing your fans' attention and keeping that attention through different tactics and approaches to posting.

2) In ENT3003, we are constantly hearing about the importance of the social aspect of business.  This entire book is about growing your social presence through social media.  If you're successful enough at this, you will have great connections laid out for you.

3) The exercise I'd design for this class would be a simple one: go on any of your social media accounts and make a post catered to your audience, not just a post that you want to make.  It doesn't matter what the results are, just so long as you're able to understand the difference in impact that offering something that the public is looking for can have.

4) My biggest surprise was seeing how serious Guy Kawasaki was about getting serious on social media.  He said to treat it as if you're really trying to go pro.  You need to act like it's a full-time job in order to be successful.  I never thought that you really needed to take social media that seriously, but it worked for him.

Your Exit Strategy

1) My exit strategy would likely be to sell the business.  Of course, that can change.

2) I don't want to work for my entire life.  It'll be nice to build it up to be a successful company, then sell it and live off of the profits.

3) My exit strategy would likely have been the same for any of the opportunities I was considering, so I guess you could say it influenced my decision a little.  Any resources acquired for the business would stay with the business.  Even though it will be my own business, I still want to be able to eventually part ways with it.

Celebrating Failure

1) Just tonight, I think that I tanked an exam that I really needed to do well on.  I worked hard to study for it, felt extremely confident while doing practice problems (got A's on both practice exams), but I'm not feeling confident at all about the results.

2) From this experience, I can only learn to practice more and to not dwell on the past.  I need to move forward and do my best in the rest of the course.

3) From an optimist's point of view, failure is a learning experience.  It is an opportunity to learn from your mistakes and try again.  This is a good mindset to have, but some failures can't be made up for.  Regardless, I think that you should always strive to create the best future for yourself and others around you.  So, you can't worry about things that have already happened.  Always move on and push forward.  I'm not sure if I'm more likely to take a risk than I was before.  I feel like I've always been pretty brave.  However, this class does give a good perspective on failure - I did a post about a book on failure. 

What's Next?

Existing Market

After interviewing three customers from my existing market, I learned a few things.  First, I learned that because marijuana isn’t actually legal yet, no one is really worried about what’s next after opening legal dispensaries.  The main concern is when it’s going to be legalized.  After that, I tried to dig to see if my interviewees could come up with any potential next steps after opening up the business.  The answers I got were mainly based on differentiating myself from the competition.  I could take my business the luxury route and differentiate myself that way or I could further innovate on the customer service side of things.

If I were to innovate in terms of customer service, I could do a couple of things.  For example, I could create a more service-based method of shopping for the customer.  Instead of the customer browsing our shelves, I could have a worker take them through an “experience” of the shop, suggesting specific strains and giving interesting information on each one.  If I went the luxury route, I believe my market might change a bit.  However, luxury items done right usually have a very strong appeal to those who can afford it.  That may be a solid option.

New Market

The new market I chose was a higher-income market.  The people I interviewed were fans of the business idea, but they did not believe it would fit a new market that is just generally higher-income.  The new market would need to specifically be young, higher-income customers.  This is because the older generations, even though there are some members that would support my business, tend to frown upon the use of marijuana or just wouldn’t use it themselves.

I was most surprised by their interest in my base business.  It didn’t seem like they thought I should change much to fit their market.  I went into it believing that I would need to make drastic changes to an already strict business, but that may not be necessary.  I did have some correct assumptions, though.  I was expecting the idea to be more attractive to a younger generation, so tightening my focus on younger, higher-income customers would be important.  I don’t think this new market is more attractive than my existing market.  It may even be slightly less attractive because I’d be restricting my view when it's not actually necessary.

Venture Concept 1

Opportunity-

Marijuana is a huge deal in the United States of America right now.  Individual states across the country are legalizing it left and right.  Canada in its entirety just legalized it.  Currently, the state of Florida is making progressions towards its legalization.  It’s already legal for medical use as long as someone has a medical card and the possession of marijuana has already been decriminalized.  Soon, the recreational use of it will be legal and the market will open.  I’m defining my main market as any college-aged Florida resident.  Marijuana is already very popular amongst college students and it isn’t even legal yet.  Imagine the business it’ll bring in when it’s legal!  Currently, customers are satisfying this need illegally.  I won’t name any names, of course.  However, customers are likely going through the process of contacting a dealer, setting up meetings with said dealer, and going to that dealer to purchase marijuana from them whenever they are in need.  They won’t have to be loyal to this method once marijuana is legalized.  This is mainly because there will be legal options while unlicensed dealers will still be illegal.  This opportunity is massive!  It has seen huge success in other states that have already legalized it.  Once it’s legal in Florida, the result won’t be any different.  The window of opportunity is tiny, though.  I’m sure that I’m not the only one with this idea.  I just have to be the first to act.  

Innovation-

This isn’t exactly a new idea, but it is one that will greatly benefit this market.  Delivery services are definitely the new wave.  If you have been watching my elevator pitches, you know that they have the potential to be a huge success.  My business would take advantage of this opportunity and a major trend in the tech world.  I would set up individual, licensed stores that serve as physical points of sale.  At these stores, customers can browse a carefully-chosen selection of strains and purchase them for roughly ten-to-fifteen dollars per gram.  On top of that, I would have a delivery service under the same brand that will deliver the marijuana to the customers for roughly $5 (not including a tip), depending on where the customer lives and current events in the area.  This will not only benefit a customer who is too lazy, likes doing everything through a mobile device, or is too high to make it to the store, but it will benefit my business.  This will allow my business to attract more customers and add value for customers who already shop at my store. 

Venture Concept-

Customers would switch to this new product in a heartbeat.  It’s legal marijuana!  We don’t even have it here yet!  As soon as it’s legalized, if I am able to get into the market quickly enough, it will be extremely easy to get customers to switch from dealers to my business.  There are likely thousands of potential competitors, but very few will be real competitors.  These competitors include dealers and other entrepreneurs in the field.  Their weaknesses will be a lack of innovative ideas and being too slow to capitalize on the legalization.  Packaging and my price points will likely be up to the market and what the norm is for these things.  Marijuana is heavily regulated in states that it is legal, so I’m expecting similar regulations.  However, distribution, customer experience, and business location are going to be crucial to my differentiation from the competition.  Because I will have a delivery service, my customers’ experiences, the distribution process, and the location of the business will have to be taken into account when making every single sale.  I would hire two or three main teams of employees.  There would be a regular sales staff that works in the store, a delivery staff, and an optional third staff that actually produces my product.  Of course, I would need managers at the head of each of those teams.

3 minor elements-

1) My most important resource is my social capital.  I have connections with very successful businesspeople that can assist me as mentors and potentially connect me with strong clients

2) I’m not too sure what the next opportunity in the venture would be other than expanding across the country

3) I definitely want to be extremely successful in whatever I do.  So, my goal would be to become one of the top, if not the top, marijuana brands in the country.

Your Venture's Unfair Advantage

The List
1. Mike C.
2. Steve B.
3. Speaking skills
4. My bank account
5. Drive for success
6. Dealer (Unnamed)
7. Backup dealer (No name, obviously)
8. Financial backing from my parents because I still rely on them
9. Time
10. Work Ethic

V
1. Mike is valuable because of his connections, extremely high business skill level, and his resume
2. Steve is valuable for similar reasons to Mike
3. I think that I’m a pretty good public speaker, so making deals and conducting business seem like good ideas
4. This resource isn’t valuable at all.  I have about $20 to my name
5. In contrast with my bank account, my drive for success is full.  I am striving to do my best in my classes in order to set myself up for good opportunities later in life
6. Dealer (unnamed) knows what the customers want
7. Same thing with this guy
8. I don’t know how much I could get out of my parents to open up a weed dispensary, but this could be a valuable resource if they’re willing
9. If I devote myself to anything, I will commit all of my time to it
10. I work very hard for things I wish to succeed in.  I also work hard for things my mom tells me to do

R
1. Mike is one-of-a-kind
2. Steve is also one-of-a-kind
3. Most great businesspeople are good speakers, so this skill isn’t TOO rare.  However, I think that I’m definitely in the top range of speakers
4. You could pick $20 off of the ground and have the same amount of money as me
5. My drive is that of someone who wants to be successful and is willing to put in the work for it.  So, it isn’t very common
6. Dealers are usually common
7. Same thing
8. I’m not sure how many college students have financial backing from their parents.  A lot probably do
9. Everyone has the same amount of time
10. My work ethic is higher than most people’s

I
1. I’m sure there are plenty of good businesspeople, but not one of them has the exact capital that Mike does
2. Same reasoning for Steve
3. If someone practiced enough, they could speak as well as me
4. This one is easy to imitate
5. You can’t imitate drive.  It’s innate
6. You can imitate this
7. You can imitate this
8. This one’s probably not too hard to imitate
9. You can imitate the amount of time I spend on my work.  It’d be hard though
10. Work ethic is the imitable version of drive, but my work ethic is hard to imitate

N
1. Like the previous explanation, There are plenty of good businesspeople, but no one has the exact same capital as Mike
2. Same reasoning
3. You can’t really replace speaking skills.  They’re pretty important
4. You can’t replace financial capital
5. You can’t replace someone’s drive
6. You can replace a dealer
7. You can replace a dealer
8. I could replace my parents’ financial support with another family member, but it wouldn’t be as much
9. You could replace time spent on work with better resources to do the work faster
10. You could possibly replace work ethic with more workers

From this, I’ve found that my social capital in Mike and Steve are likely my most valuable resources.  They are valuable, can’t be replaced, are difficult to imitate, and are each one-of-a-kind.

Elevator Pitch 3

Reading Reflection 2

How to Fail at Almost Everything and Still Win Big

1) The general theme of the book is to be persistent and to not restrain yourself.  The author brings up a few major points based on this idea.  He said that goals suck and systems are the way to go.  This is because goals are flawed in that they are very specific and you don't know when you'll be rewarded.  This will likely cause you to become disappointed if you have any outcome other than your expected outcome.  Another major point is his advice to find your energy instead of your passion.  You could have many "passions".  If you follow the ideology of finding only your passion, you may be locked into that opportunity even if you don't have the energy to commit to it.  Finding your energy is more important because as long as you stay energetic, you can fail countless times and still persevere.

2) I can't really connect any specifics from the book to this class.  However, the theme of passion vs energy is apparent in our choice of opportunities.  A friend of mine certainly is following his passion in his opportunity (not that it's a bad thing), while others that I've seen are working through trial and error from post to post - almost like it's the energy that keeps them going.

3) If I were to design an exercise for this class, It would be based on potentially changing our opportunities.  I think that many of our opportunities have a lot of constrained goals involved.  If Adams is correct about systems vs goals, then it would be crucial for the class to learn how to develop systems to increase productivity.  A major step would be turning their goals into systems.

4) It wasn't really an "aha" moment, but reading about the useless patents that Adams had was pretty funny.  Had Dr. Pryor not explained the potential uselessness of patents in class, I would not have understood this part of the book one bit.

Idea Napkin No. 2

Hey everyone!  Most of  this is the same as my previous idea napkin.  My plan hasn't changed too much, mainly because it's a very straightforward idea with very strict methods of carrying it out.  As I learn the business more, I will potentially find areas to innovate.  However, I haven't come across any major areas to be flexible that expert business people haven't.

I’m Jacob Cavan, or Jake for short.  I believe that I’m a very quick learner, I’m great at speaking in front of an audience, I love meeting new people and creating relationships with them, and I’m a very good problem-solver.  Currently, I want to go into business and do something like what my dad does.  He is the leader of a team in charge of organizing sales, setting up deals, and sealing those deals with other companies in the market for his company’s product.  I’m not sure if it would be the best for me, as I'm still figuring out what I want to do, but my business concept for this class would be a very quick way to start a successful venture into the real world - if I’m quick enough to act.

The product/service combo I am offering is a chain or marijuana dispensaries in newly legal states paired with a delivery service for my brand.

There is a seemingly wide demographic that I think would want my business, but the psychographics aren't very straightforward.  Anyone who uses a form of marijuana (THC vapes, traditional smoke, edible) or could see it as an option for them.  These people are usually college students, stressed parents and workers, and people with injuries or disabilities.  Even though these groups all have some members who use marijuana, not everyone in each group uses.  Some college students don’t want to use it because they don’t like smoke or are worried about getting in trouble, many parents look down upon marijuana smoke, and many people with injuries or disabilities prefer alternative methods of healing or easing their pain.  So, I am offering my product to people in these groups who prefer marijuana as their method of relieving their stress or pain.  After following this target consumer with some other blog posts, it may be problematic to find users that don't have their medical cards and difficult to find users that do. 

They care because the recreational use of marijuana is illegal in most states, so many people don’t have this option-legally.  The legalization of marijuana in these states will cause the already large market for marijuana to grow.  Even those with medical cards can benefit from a recreational dispensary.  Medical marijuana dispensaries aren’t very common.  There is only 1 in northeast Florida and also only 1 in west Florida.  Imagine having to travel anywhere from 45 minutes to multiple hours just to pick up a prescription!

Because I don’t know the business very well, my main advantage would be acting as quickly as possible on the legalization process.  As soon as it looks like a real possibility for the legalization, I would begin the process of setting up locations, finding suppliers, etc.  Although the delivery service has been done before, it’s extremely convenient and has been shown to be a massive success.  With my own delivery service, I could greatly increase my own sales and, with that, revenue.  On top of this, I can use the skills I've developed over the years to make a lot of sales.

How this all fits together:
Overall, the success of this business depends on how effective I am at marketing, finding high quality marijuana, networking, and racing into the market as quickly as possible. 

FEEDBACK!!
One of the major points I took from the feedback was confirmation of one of my statements.  I said that the biggest advantage in an industry like this is capitalizing on timing, and a few of the comments agreed. 
Second, my comments agreed with my choice of target consumer, but for a reason I wasn't expecting. 
I didn't tweak very much in this post because I felt like the feedback was mostly just agreeing with me and my progress on the topic has only really confirmed things I've considered.  However, I mostly plan to tweak my target consumer for this class, even though I will have multiple.

Elevator Pitch 2

Although I didn't get a ton of feedback on the last pitch, I have gotten good feedback on different posts.  On my last elevator pitch, I had one comment.  However, it was very complimentary and supported my reasoning for following this opportunity.  On the other hand, I've received feedback on my delivery service idea.  I've been told that "it's been done before in California" and things like that.  I don't want to bash anyone for that, but that's way over in California.  It's currently illegal to have a service like that right now in Florida, so as long as I can capitalize on the timing, I'll have a huge advantage.  It won't matter that it's being done on the other side of the country.  These services have seen great success and I see no issues with applying it to my own business.  I only plan to tweak my idea as I go, refining the pitch and figuring out a definitive target segment.

Create a Customer Avatar

After doing the last few assignments, I’ve figured out that I should probably reassess my segment decision.  It definitely works, but it is a segment that already has a legal variation of my product available to it.  So, I will be changing my segment to the typical college student who recreationally smokes.  I read that roughly 38% of college students recreationally use marijuana, so this will be a fairly easy market to identify.  My prototypical customer truly is the stereotypical college student.  He/she dresses comfortably for classes, likely drives a car from an Asian company (Honda, Toyota, Hyundai, etc.) and that car is either gray or red.  My customer likes to watch offensive cartoons like Family Guy and sitcoms like Friends.  He or she tends to study hard.  However, they like to relax and de-stress after a week of hard work by “rolling up” with friends.  This person typically has no kids and could swing either way when it comes to politics.  This person is likely 18-22 years old.

I definitely have a lot in common with this avatar, and it's not a coincidence.  I think I'm a relatively typical college student.  I like to watch cartoons and study.  I go to the gym and like to hang out with my friends, but I don't have a car right now.

15 - Buyer Behavior 2

Since the format last time went well, I'll continue with it.  However, new interviewees were involved this time.  I think that, for my opportunity, I chose an interesting segment.  To my understanding, they have this need for a convenience and price factor.  Here, I interviewed 2 people with medical cards and 1 who has a family member with a medical card.  I can't exactly go around asking everyone if they have a medical marijuana card, I may need to rethink my segment if we have to conduct these interviews again.

Alternative Evaluation:
To re-explain the information from the last interviews, I found that even though medical dispensaries exist, they are far too rare for many central- and north-Floridians to conveniently acquire their prescriptions.  Picking up from drug dealers has its downfalls-sketchiness, danger, and the occasional overcharge.  This time around, I received very similar answers.  Of course, the one who has family with a medical card wasn't speaking for himself.  But, it still seems that convenience and price are the big hitters when it comes to reasons behind this need.  One of my two cardholders also mentioned that a high quality is assured when buying from an official dispensary.

How/Where?
Currently, 1 of the medical cardholders and the family member who has a card make the trip to the nearest dispensary - roughly an hour away from where they live!  The other cardholder doesn't like to make the trip, so he usually supports the local "entrepreneurs".  However, when he makes a trip home, there is a dispensary much closer to his hometown.  So, he chooses the dispensary when he's home.  Those who make the trip like to buy in bulk, so they don't have to keep driving 2 hours each time they need to relieve pain or calm down.  But, it requires a lot of cash or a big transaction out of their bank accounts.  They said they'd like a closer spot, so they don't have to spend so much money in one go. 

Post-Purchase Eval
Because marijuana from dispensaries is a pretty consistent drug, my interviewees are often satisfied by their purchases when they make the trip.  However, again, they don't like to make a day out of just going to pick up a prescription.  They are happy with the purchase, but not with the inconvenience.  They still think it's worth the drive, but they would prefer to not have the drive.  The only one here who occasionally regrets their purchases is the one who goes to a dealer.  He said when he first started "locally sourcing", dealers would often skimp him on how much he received, or the quality of the product just wasn't very good.  These were regrettable purchases.

Conclusion
To sum it up, this segment is looking for convenience.  They already have access to this product, but are looking for convenience, consistency, and a low price.  They either pay in cash or debit card, and just hope for fair, high quality purchases that don't take advantage of an illegal situation like this guy's dealers sometimes do.

16 - Secret Sauce

·       I have great people skills

o   I love meeting new people

o   I’m great at speaking in front of people

o   I am very personable

o   I am persuasive

·       I am a positive person

o   I am very optimistic

o   I always look for opportunities to grow and learn

o   I don’t let negative situations be large setbacks

o   I bring a positive energy wherever I go

·       I am creative

o   I can find opportunities to excel where others may not

·       I have good problem-solving skills

o   I am very analytical and very logical

·       I am ready and willing to lead

o   I feel that I am respected as someone who always has a strong plan and will successfully carry out that plan

Interview with Austin

https://soundcloud.com/jake-cavan/austin-interview-secret-sauce

Austin felt that I’m very reliable, motivational, and knowledgeable.  He made a point that I bring a lot of positivity to the table.

Interview with Sean

Revered my energy and motivational skills.  He said that I’m a strong influence to those around me.

https://soundcloud.com/jake-cavan/sean-interview-secret-sauce

Interview with Chad

Thinks I will be successful.  He also said that I’m very analytical and can relate to most just based on being logical.

https://soundcloud.com/jake-cavan/chad-interview-secret-sauce

Interview with Andrew

Andrew said that I’m a very positive person.  He also said that I’m very nice.  Because we’re such good friends, a lot of what we say to each other is often poking fun at each other, so it was interesting to hear something nice come from him.

https://soundcloud.com/jake-cavan/andrew-interview-secret-sauce

Interview with JoJo

He thinks I’m very outgoing and intelligent.  He thinks I always have something interesting to talk about and always bring positivity with me.

https://soundcloud.com/jake-cavan/jojo-interview-secret-sauce

Conclusion

Because I came up with my own 5 after these interviews, I think my answers were a little biased.  However, because they are seeing me from their own perspectives, they pick up on things about me that I don’t.  They can also see things for the way they are and not how I perceive them.  I don’t think I would remove anything from my list, but it seems that I should add that I’m outgoing, destined for success, and can make interesting conversation.

Tenacity & Paying it Forward

1) I wasn't great at it at first, but in order to keep up with the course, you must stay on top of watching the lectures and at least start your work early.  The "cupcakes" aren't a joke.  If you aren't paying attention, they can catch you off guard.  Even though it's an elective for most, this class is definitely one that requires hard work for one to succeed.

2) I'm currently in the "pulling through" phase of tenacity.  I've struggled with tenacity since arriving at the University and found myself in a situation that has two ways out: leaving the school or working my ass off to get all A's this semester and likely the next as well.  This class is greatly contributing to my tenacious mentality because of the surprising amount of attention that it requires.  I can't slack and, therefore, have to spread my focus out even more.

3) To any students taking this class now or in the future, make sure to attend as many of Dr. Pryor's lectures as possible and watch the rest of them on time.  He's pretty entertaining, so you won't be falling asleep in class.  Second, I'd ask that you put real effort into looking at business opportunities.  Many people have very creative projects that they're pursuing in this class.  With a creative project, writing about it just gets easy.  Lastly, you should definitely start writing your blog posts at least two days in advance.  The noon due date is a lot more stressful than it seems (I'll be turning this one in at 11) and sometimes these posts can be very time-consuming.  Especially the information search ones.

Reading Reflection 1 - Andrew Carnegie by Daniel Nasaw

1) Andrew Carnegie's success as a businessman blew my mind.  Of course it took him a while, but what surprised me the most is that he was able to successfully pull off a full vertical integration of the steel production process.  I admired Carnegie's tenacity more than anything else.  After his family finally made it to the U.S, he began working at the age of 13.  I couldn't pull anything from the reading that I "least admire" about Carnegie, but some reports speak of his Machiavellian behavior and inability to recognize the discord between his perception of himself and other people's perception of him.  Carnegie's biggest adversity was rising out of poverty.  After that, he became the richest man in the world.

2) Carnegie had amazing drive.  He never quit because of the passion that grew from when he was in poverty.

3) Because I understood Carnegie's story, not much was very confusing.  I felt that, because it was a fairly lengthy biography, it became cumbersome at times to take in the information.  However, it was overall very straightforward.

4) I would first ask Mr. Carnegie if he had any regrets about his climb to the top.  Usually, someone with that much self-earned power may have cut ties that they wish they hadn't.  After that, I would ask more about his excellent execution of vertical integration.  In economics, U.S. History, World History, and many others, he is the leading example of this method of monopolizing an industry.  Apparently, he was the first to implement a full vertical integration of the company and it seems to have been almost flawless.  I would ask him questions about how to run a company with that many different divisions.  As the most powerful man in the company, he has to closely monitor every individual division of it in order to keep that power and keep the company successful.

5) Carnegie bled, sweated, and breathed hard work.  Like I said earlier, he had to climb out of extreme poverty.  At this point in my life, I don't share the same intense passion for hard work, because I have never had to work as hard as he did.  I'm not saying I don't work hard or don't agree that hard work is the best way to become successful, but his work ethic was on a level that hardly anyone can compare to.  That's why he was the richest man in the world.

Figuring Out Buyer Behavior 1

For my previous interviews, I liked to write down specific questions and answers that I felt were relevant to what we were asked to find.  I’m not sure if the instructions changed, but this time, I’ll go with the summaries.  The segment I chose was people who use marijuana to cope with injuries or disabilities.  In these interviews, I referred to the unmet need as marijuana.

Need Awareness:

I interviewed two people who have their medical marijuana cards and one who doesn’t.  However, all three have issues that they use marijuana to cope with.  Their need for the effects or marijuana occurs when they begin to feel pain or discomfort.  One has severe sciatica and can only sit/stand for 45 minutes at a time without having to switch to the other.  So, to dull the pain to a bearable level, he smokes.  The others preferred not to disclose their conditions.  Their need for having marijuana in their possession occurs when they run out of their supply.  Medical marijuana dispensaries aren’t very common in Florida.  There is only one in northeast FL, two in central FL, and a few in south FL, so it’s always a long trip to pick up their “medicine”.  They are in need of a more convenient option.

Info Search:

When these people first become aware that they are running out of weed, they plan out their pickup.  Illegal dealers are more common than medical dispensaries, so that is occasionally an easier option.  But, the two with their cards prefer to make the long haul to a dispensary.  All of them told me that a dispensary set up in Gainesville would not only be insanely beneficial to them, but to everyone who uses weed in the area.  Their search for a supplier is usually short.  The dispensaries are very reliable, so it’s always an option.  However, to find new options, these three said they either message friends to find someone in town or go on Google Maps to find different dispensaries close to where they’ll be when they run out.

Conclusion:

This segment is very accustomed to this need and how to address it.  However, they would prefer a much more convenient, streamlined solution.

Idea Napkin

I’m Jacob Cavan, or Jake for short.  I believe that I’m a very quick learner, I’m great at speaking in front of an audience, I love meeting new people and creating relationships with them, and I’m a very good problem-solver.  Currently, I want to go into business and do something like what my dad does.  He is the leader of a team in charge of organizing sales, setting up deals, and sealing those deals with other companies in the market for his company’s product.  I’m not sure if it would be the best for me, as I'm still figuring out what I want to do, but my business concept for this class would be a very quick way to start a successful venture into the real world - if I’m quick enough to act. 

The product/service combo I am offering is a chain or marijuana dispensaries in newly legal states paired with a delivery service for my brand.

There is a seemingly wide demographic that I think would want my business, but the psychographics aren't very straightforward.  Anyone who uses a form of marijuana (THC vapes, traditional smoke, edible) or could see it as an option for them.  These people are usually college students, stressed parents and workers, and people with injuries or disabilities.  Even though these groups all have some members who use marijuana, not everyone in each group uses.  Some college students don’t want to use it because they don’t like smoke or are worried about getting in trouble, many parents look down upon marijuana smoke, and many people with injuries or disabilities prefer alternative methods of healing or easing their pain.  So, I am offering my product to people in these groups who prefer marijuana as their method of relieving their stress or pain.

They care because the recreational use of marijuana is illegal in most states, so many people don’t have this option-legally.  The legalization of marijuana in these states will cause the already large market for marijuana to grow.  Even those with medical cards can benefit from a recreational dispensary.  Medical marijuana dispensaries aren’t very common.  There is only 1 in northeast Florida and also only 1 in west Florida.  Imagine having to travel anywhere from 45 minutes to multiple hours just to pick up a prescription!

Because I don’t know the business very well, my main advantage would be acting as quickly as possible on the legalization process.  As soon as it looks like a real possibility for the legalization, I would begin the process of setting up locations, finding suppliers, etc.  Although the delivery service has been done before, it’s extremely convenient and has been shown to be a massive success.  With my own delivery service, I could greatly increase my own sales and, with that, revenue.

Testing the Hypothesis 2

Who: Are there certain people or certain businesses that, although they share a lot in common with the others in your opportunity, nevertheless fall outside the boundary? Why?

What: At what point does the need you identified differ from another need? (Is thirst the same as hunger? Or is the desire to appear fashionable the same as the desire to be loved by others?)

Why: Is the underlying cause of the outsiders' need different than people who are inside the boundary?

Interview 1: Alyssa L (college student)

Why don’t you have this need like many other college students do?

“I really just never got into using marijuana.  It’s never been that attractive of an option for me and I just haven’t tried it.  I’m not against others using it, though.”

How does this need differ from others like it?

“The need itself really doesn’t differ from others like it, other than the substance itself is illegal.  College kids drink when they are underage and that’s illegal, too.”

So what are your thoughts on marijuana as opposed to alcohol?

“I’m 21, so I can legally drink.  No one in Florida, other than medical users, can legally use marijuana.  Other than that, they aren’t very different.  Both are depressants and they both put you in a different state of mind than when you aren’t using.”

Interview 2: Tomas R (student)

What do you have against the use of marijuana?

“For me, it’s a personal thing.  I don’t mind others using it, but I want to do the best I can in college without distractions like weed.”

Do people smoke for the same reason others drink?

“In some situations, yes.  I think weed is usually something a close group of friends uses as a relaxing, calm bonding experience.  I sometimes see people have similar experiences just drinking beer with their boys.  But alcohol seems to have many more different situations to use it in.”

Interview 3: Jojo C (college student)

Do you have anything against using marijuana?

“Kind of.  I’m not really a big fan of it.”

Even though you’re a regular, stressed-out college student?

“Yeah, I just don’t see the need.  If other people want to do it, they can.  But I just relieve stress differently.”

Do you think other people’s stresses differ from your own and that’s why they use?

“Everyone has their own reasons for being stressed, but I don’t think I’m a minor case.  Everyone just has their own method for fixing that stress.  There isn’t much of a difference in the base problem.”

Interview 4: John K (injured)

Why don’t you smoke?  It’s common for people with injuries like yours.

“It would probably be a really simple way to ease my pain, but I think I’m almost healthy now.  I don’t think I’ll have to get to that point.”

How do others handle pain like this?

“Most people I know end up smoking weed.  It’s easy and they say it’s the most effective option they’ve tried.  I just use the prescribed painkillers the way I’m supposed to.”

Interview 5: Melissa S (parent)

I said that stressed parents may make great use of smoking weed to relieve that stress.  Why don’t you?

“I don’t want to have to rely on a substance to ‘get through’ parenting.  I drink every now and then, but that’s for fun with friends.  Not to escape the stress of my children.”

What do you do instead?   There must be something.

“I prefer exercise or a hot bath, but I understand why some people would want to use marijuana.  They’re just alternative solutions for a similar problem.”

Inside	Outside
Who is in? -Still college kids, parents, people with injuries, etc.  But, method of fixing their problem is preferential	Who is not? -Those who prefer methods other than smoking weed
What the need is -A method of stress relief, a substance for recreational use, and a pain reliever	What the need is not -A perfect answer to everyone’s stress, fun, and injury-related concerns
Why the need exists -Known for its effectiveness in all of those areas	Alternative explanations -Some people just prefer different methods.  The mom likes baths and exercise, the injured guy just uses his prescription, the college students just don’

Elevator Pitch No. 1

Elevator Pitch 1

The Same Video, Just From My Files

Solving the Problem

How to Solve this "Problem"

• Although this doesn't apply to Florida yet, it definitely will in the near future
• Instead of just a product or service, my solution would be the full package
• It would consist of 
• Individual, licensed shops that produce and sell the marijuana
• An UberEats-like delivery service for said marijuana
• Obviously, it's good to see a product before you buy it, and that's true for all types of products!  This means that a physical location is important for the success of a business like this
• However, people like convenience.  Especially in college towns.  So you can either,
• Purchase it in stores that would be conveniently placed
• Or you could just download a phone app that will process your order and deliver the product to you

This would, of course, only go into effect in areas that this practice is legal.  However, I predict that it will soon be legal nationwide and a business like this could definitely be successful.  Maybe even the delivery service would move forward, but under these circumstances, a physical store would be an easy way to get into the market.

Testing the Hypothesis, Part 1

Acting on the Legalization of Marijuana in Idaho

Now that marijuana is on the verge of being legalized in Idaho and many other states, there are opportunities for businesses in that field to boom because of the injured and disabled people who use marijuana for relief, stressed-out parents and workers, and the obvious, typical recreational users.

(Names shortened and abbreviated for privacy)
Interview 1: Chan C, 15

1) Are there others who have this need?  Or does everyone in my current "who" share this need?

"I'm in high school, so I really don't know who else would have the need.  Maybe teachers do.  We mess with them sometimes.  I think there are people in each of those groups you named that would like a marijuana shop."

2) To branch off of what we just said, do you think that everyone in those groups has this need?  Or do only some of them want a convenient marijuana shop?

"They could probably all use it, but I don't think they all need it.  I know some parents that would like it, but not all of my friends' parents would."

3) Do you think my "why" fits well here?  Do you think it's a good reason for this opportunity to exist and do you think it holds true across the board?

"Yeah I do.  It's illegal in most places, but there are lots of shops where it is legal.  I don't see any reason for the opportunity to exist other than it being legal and people wanting to feel high."

Interview 2: Moe K, 49

1)  (Same question as above #1, will indicate with " " when questions repeat)

"In my line of work, I see a lot of people who I think would need something like this.  Sure, medical marijuana is legal in a lot of states now, but it would be a lot more convenient for them to not go through the process of obtaining their cards."

2) " "

"Not all disabled or hurt people need it.  There are alternatives to using marijuana, but I think the majority will prefer it.  Definitely not all parents want it, but I think they need it, ha ha!"

3) " "

"Yes it definitely does.  There aren't many other reasons that you would have one of those shops if it wasn't legal, and with legalization nearing in Idaho, that's definitely a good opportunity."

Interview 3: Andy S, 20

1) " "

"College kids would love this.  I don't know if you meant to include them or not.  I think you covered most of the potential customers, though.

2) " "

"No, everyone has their preferences.  I think it's a good alternative to drinking after a long day of work though, so it could definitely benefit workers, teachers, and stressed parents."

3) " "

"Yeah.  Legal marijuana means a lot of marijuana shops popping up.  We don't get to see it in Florida because its illegal, but when I traveled to Colorado, they were everywhere.  You just have to be quick.

Interview 4: Johnny Z, 23

1) " "

"I mean, you didn't really include all of the specifics.  There were some, though.  To break down the recreational users, I'd say there are college kids, millennials, old Rasta guys, business owners, and a few more probably."

2) " "

"Of course all recreational users would have this 'need', but no.  Not all teachers, parents, and disabled people would particularly want this.  Many likely would, though."

3) " "

"Your 'why' is a combination of who needs it and the legalization, so it's kind of broad.  But yes, I do think it fits.  You have to legalize it before you can make a business out of it."

Interview 5: Chad M, 21

1) " "

"I think there are users in most demographics, so it's kind of hard to say that your 'who' encompasses everyone who could have the need."

2) " "

"Because of what I said in the last answer, I'm not sure.  You'd have to take some kind of survey probably.  I'm sure many of the people in your 'who' would likely have the need.  Just not all of them.  The only issues with this would be legal ones."

3) " "

"Your 'why' is pretty much the only reasonable 'why' in this situation.  It's being legalized by popular demand, so there will be a lot of opportunities for business."

Summary
I thought all of my interviews were interesting.  I enjoyed speaking with my interviewees.  I thought it would be fun to interview someone who was underage and definitely wasn't in my "who".  He gave really good answers and helped me gain insight on some demographics that I can't easily observe now that I'm in college.  The others were good as well.  Johnny gave me good criticism in my methods of picking "who's" and helped me to think about how I should reword or rethink my "why".  Other than that, I was happy to get good feedback from the rest of the interviewees.

Identifying Opportunities in Economic & Regulatory Trends

Regulatory Opportunities:

Legal Weed in Idaho:
https://www.mpp.org/states/idaho/
Recently, the recreational use of marijuana was decriminalized in Idaho.  A petition to put it on the 2020 ballot has been passed.
A huge opportunity exists here.  The popularity of marijuana, even while illegal, is very evident.  Once legal, businesses will pop up everywhere throughout the state, ready to sell their stock.
Customers such as college students, people with medical issues, stressed-out parents, and many more will likely be very attracted to this type of business, due to the nature of marijuana and its effects.
This opportunity could be very easy to exploit if you have money and are quick enough to start up your business.  However, if you don't have a good plan well ahead of time, you might miss your chance.
I saw this opportunity because of conversations I regularly have with my grandfather.  He is very up-to-date on regulatory and economic trends and happened to point things like this out to me.  So, I decided to look states that have recently legalized marijuana.

Wall Material Production:
https://www.npr.org/2019/01/11/683920624/once-a-fence-later-slats-almost-always-a-wall-trumps-border-wall-contradictions
The page that i came across wasn't exactly about the opportunity, but it definitely made me consider this opportunity.  In order to construct a wall across the southern border, the U.S. needs a lot of materials.  This raises an opportunity for companies to either produce concrete and other current materials or create a completely new, cheaper material to build the wall in order to decrease federal spending.
It's not the biggest opportunity in the world, but, because of the construction of the border wall being a new subject, it is definitely a possibility.
The main customer will be the federal government.  Following that, customers could include construction companies who want to lower their costs and big businesses who wish to do the same.
Because it will be a limited initial project and because the initial customer would be the federal government, this opportunity would not be very easy to exploit.  However, if you are lucky enough to be the one who takes advantage of this opportunity, you can very easily exploit it.
I saw this opportunity because I am very interested in politics.  A major topic on everyone's mind is President Trump's wall.  It's a huge deal, whether you support it or not.

Economic Opportunities:

Renewable Energy:
https://www.forbes.com/sites/jamesellsmoor/2018/12/30/6-renewable-energy-trends-to-watch-in-2019/#2ae4911e4a1f
As the Earth and its people get older, concerns about preserving the planet begin to grow.  These past few years, especially, huge innovations are being made in the field of renewable energy.
Again, there is great opportunity here.  Many people are very passionate about keeping the environment intact.
Again, many college students will likely be customers of eco-friendly products.  Following them, much of the younger generation that will live for the next 3 or more decades will likely be customers as well because the changes made today will have an effect later in their lives.
This opportunity is definitely easy to exploit if you have a good idea.  If you just advertise a new, eco-friendly startup on a college campus, you're bound to get at least some customers.
This opportunity became evident to me because I understand the current state of the environment and people's concerns for it.

GDP Growth and Business:
https://www.bea.gov/news/2019/gross-domestic-product-1st-quarter-2019-advance-estimate
Trump's presidency has led to massive increases in the nation's GDP, which means massive increases in production.  This means that many opportunities related to production may be taken.  However, more production means a need for more points of sale.  Retailing and resale businesses could take great advantage of these increases in production.
As I said before, this is a great opportunity.  The U.S. needs to be able to keep up with its production if we want to keep businesses in the U.S.
The general population will be customers of these businesses.  Because it is a wide category, there are many potential customers.
This opportunity is easy to exploit.  Even when the economy isn't exploding, resale is relatively easy to exploit.  I did a little bit of shoe reselling in high school and it was some of the easiest money I've ever made.  Had I made it into a business, I could be living off of the revenue now.
When I found the opportunity about wall materials, I continued looking into the effects of Trump's policies.  I was then reminded of the major jump in GDP and considered the effects that it could have.

Identifying Local Opportunities

County commission repeals plastic ban ordinance

https://www.alligator.org/news/county-commission-repeals-plastic-ban-ordinance/article_55470876-d448-11e9-8ff0-9fec549a3192.html

In short, local officials were trying to pass a ban on plastic in the community in an attempt to reduce the city's footprint.  However, The Alachua County Commision unanimously voted to repeal the piece of legislature which would've enacted the ban.  The story shows that a citizen agreed with the original ban, and shamed the state for trying to control the city.  The Gainesville City Commissioner said the city doesn't necessarily have to repeal the legislature, but the chances of the ban being passed are very slim.  The rest of the article slams retailers and big businesses for "trying to keep communities from being able to protect their environment."  

The problem is whether or not Gainesville will be able to reduce its footprint or not.  One method of reducing the footprint is with a plastic ban.  However, there are other ways to do so.

Everyone in Gainesville has this problem, but right now, it is in the hands of the local government.

Alachua County Jail hacker outsmarted system “just to prove” he could

https://www.alligator.org/news/alachua-county-jail-hacker-outsmarted-system-just-to-prove-he/article_bfd17294-d5dd-11e9-83af-5379a6d2d3d5.html

This story is quite an interesting one.  It tells of a man named Justin Lee Williams, who hacked into the Alachua County Jail's computers and freed his friends just to prove that he was capable of doing so.  It highlights his experiences with computers as a child, telling that his first computer hardly worked.  However, he learned the ins and outs of it, eventually picking up a useful skill: hacking.  He started off hacking online stores and selling the items from those stores for extra money.  His escapades quickly became more serious.  Eventually, he was arrested and slipped up.  But, continued with his lies and even was able to trick Sumner County into lifting his warrant for arrest.  From there, Williams began making deals with people to get their friends out of jail for a nice paycheck.  Williams was a genius con artist and was able to escape the grips of the law on numerous occasions.  5 years after his grandmother passed, Williams plead guilty and is now held in Alachua County Jail.

The security of the systems Williams was able to exploit are clearly flawed.  He was able to trick workers and bypass securities with ease.

The law enforcement and judicial branch of Alachua County have this problem.  It doesn't seriously effect many citizens, because he doesn't rob individuals, nor does he cause anyone harm.

UF Preview prices broke state law. How are they fixing it?

https://www.alligator.org/news/uf-preview-prices-broke-state-law-how-are-they-fixing/article_2daeae4c-d2b6-11e9-9c0c-9fca1017f082.html

This issue definitely impacted me and many other students at UF.  To summarize the story, for at least the past decade, UF has been illegally overcharging new students to attend Preview, UF's orientation.  It tells of individual families' experiences with this overcharging and explains what the state of UF's Preview prices are now.  All UF has done to fix this problem is separate Preview into 2 pricing options: a limited, $35 one and an all-inclusive, $200 experience.  However, people still say the mention of different options is very obscure and difficult to reach.

This is definitely a problem, because the state legal price for orientation is $35.  UF has been overcharging for years and now hardly fixes the problem after it receives backlash.

All UF students are affected by this problem, but the problem is in the hands of both the UF executives, students, and Florida residents alike.

Biker caught stealing plants from Satchel’s Pizza

https://www.alligator.org/news/biker-caught-stealing-plants-from-satchel-s-pizza/article_f8110938-d5c1-11e9-b240-63c79cc54825.html

I believe the editors missed a fantastic opportunity in titling this article.  It should've been "Pizza Parlor Plant Pirate".  Anyway, it's a silly story about a man who got caught stealing hanging plants on Satchel's Pizza's securities cameras.  The story is unfolding to show that this man has potentially been stealing plants for months or even years!  The owner of Satchel's decided to take to social media in order to find his pizza-plundering pirate.  No luck so far, but he just wants his pizzeria plants to be peacefully preserved on his property.

Even though they're just plants, this is still robbery.  The plant pirate is taking the property of a local pizza shop owner.

The owner is mostly affected by this, because it costs him money to replace the plants.  But, customers at Satchel's won't have the same, beautiful plants to look at every day.

‘We’ve had enough.’: Students organize protest on Fraternity Drive

https://www.alligator.org/news/we-ve-had-enough-students-organize-protest-on-fraternity-drive/article_699fab64-d107-11e9-b2c2-b38c5b626004.html

This is actually a very important issue.  Blue lights are essentially emergency speed-dial stations for anyone on campus to use.  They are spread across campus, but there are none on Fraternity Dr, or "Frat Row".  Frat Row is where many fraternity houses are located and where many of the big game day tailgates are held.  At the end of Spring 2019, UF Student Government failed to pass a resolution that would propose adding blue lights across Frat Row.  A massive gathering of students will be across the street from the SAE fraternity on Sep. 17th at 5PM to protest the inaction by UF SG.  The goal of the protest is to "allow students to have a voice when it comes to their safety".  The movement isn't to raise awareness for previous victims or to point fingers.  It is to protect the students of the present and future.

The protest itself isn't a problem, but the inactivity of the Student Government on this issue is absurd.  We should've had blue lights along Fraternity Dr. just like the rest of campus.  It makes no sense to only not have lights where many of these emergencies may happen.

This inactivity effects all students and even all people who spend time around Frat Row.  Anything can happen and if one is in an emergency situation, alone with no phone, there isn't much hope.

Forming an Opportunity Belief - Southwest Parking

There are many issues related to parking on and around campus.  There are more decals issued than parking spots on campus, there are very tight parking spaces on campus, parking at the Southwest gym is always full, and I don't even want to start to rant about how terrible the parking options are around midtown. 

I believe that I have an idea to at least smooth out the process of finding a parking spot by Southwest Rec.  It's extremely stressful to look through the entire parking lot, only to find that there are no spots and you need to go home to catch the bus.  Also, skipping a parking spot in hopes of finding a better one is almost equally as stressful.  Anyone who drives to the Southwest Recreation center to work out has the need for a smoother parking experience.  I would assume this need has existed since Southwest opened, because it is the largest gym on campus.  Since I've been a student at UF, I haven't seen any changes to the system.  Yet, I and many of my friends still find parking at Southwest extremely stressful.  Everyone still pulls into the parking lot in hopes of finding a spot and many of them are left without a spot.  I'd say I'm 90% sure that this opportunity exists.  I've only seen a similar idea implemented in a couple of parking lots around town and even then, I believe it could be executed better.

Here's how the idea goes: there will be a system for checking into the parking lots at Southwest.  You could download a phone app or check in at a kiosk located at the lot.  It will show available spots.  You simply click the spot you wish to take, that spot will then be assigned to you for a specific time frame (likely 2-3 hours).  You can claim the spot early by using the app, but you will have 10 minutes to arrive at the parking spot.  A GPS system will track whether you have arrived in the parking lot within the allotted time or not.  If you fail to reach the parking lot within that amount of time, you will have to wait out a "cooldown" of 5 minutes to choose another.  Upon leaving the parking lot, you will check out at a second kiosk located at the exit of the parking lot, freeing up the spot.

Interview 1: Joseph Colarusso

What is the exact nature of the need?  Why do needs like this exist?

"Southwest is very busy.  People want to drive their cars there for convenience, so parking is scarce."

When do you become aware of the need?  How often do you experience this need?

"I don't experience this need very often anymore, as I only go to Southwest to play basketball every now and then."

How long have you had this need for a better parking system at Southwest?  When did you first become aware of the need, and why?

"I think I noticed this need my freshman year at UF while I was trying to get into a regular gym schedule.  Parking was always cramped or full.  I've had it since.  Not much has changed."

How are you currently addressing the need for parking at Southwest?

"I usually just hope for the best when I go.  It's not that often, so I don't have to address it very often anymore."

How satisfied are you with the solution I proposed?

"I think it sounds really good.  I think it would take a lot to implement, but it does sound useful.  I can't think of many ways to make the plan more efficient."

Interview 2: Andrew Shaw

What is the exact nature of the need?  Why do needs like this exist?

"People need a spot to park.  People need to get places and do things, and it's convenient to use a car to get there."

When do you become aware of the need?  How often do you experience it?

"Pretty much every time I go to Southwest, I experience it."

How long have you had this need for a better parking system at Southwest?  When did you first become aware of the need, and why?

"I have had this need since I got here.  Probably day 1 of freshman year, I tried to park at the gym and was astounded by how busy it was."

How are you currently addressing the need for parking at Southwest?

"I try to plan my workouts at times that aren't very busy."

How satisfied are you with the solution I proposed?

"I'm pretty satisfied.  The only thing I would think about would be the cost of a GPS system vs the weighted parking spots that some other systems use."

Interview 3: Caroline Gaspich

What is the exact nature of the need?  Why do needs like this exist?

"There are many problems with parking at Southwest.  I've gotten tickets for parking at southwest, I've circled the parking spots for so long at southwest that I missed class and had to go home..."

When do you become aware of the need?  How often do you experience?

"I used to experience it a lot, but then I gave up and decided to go to the other gym.  I feel like its discouraging to students that want to work out and they can't because they can't find parking."

How long have you had this need for a better parking system at Southwest?  When did you first become aware of the need, and why?

"Freshman year.  I've been experiencing it for 4 years.  I got motivated enough to go there one day and I parked.  Then when I got back out, I saw that I had a $40 parking ticket.  I hate how much time I have to put aside just to make a simple trip to the gym."

How are you currently addressing the need for parking at Southwest?

"I just don't even try to take care of my body anymore.  I've just given up entirely."

How satisfied are you with the solution I proposed?

"I think it would be a very good solution to this problem.  I don't think I would change anything.  The app sounds very convenient."

Reflect

This was actually my second idea.  The first one didn't seem to resonate with my interviewees.  I'm happy with the reactions I got to my solution and I appreciated Andrew mentioning the costs related to implementing my strategy.

Summary

How much of your original opportunity is still there?

I am still fairly certain that the opportunity exists.  I realize that many people do face this problem, but have many different methods of addressing it.  I also realized new issues related to parking that I had not thought of before.

Do you believe that your new opportunity is more accurate than when you started?

I don't believe that I have a more accurate new opportunity, but I have more opportunities to consider.  I feel that mine was very specific and had a specific group of people that it affected.

How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback?

I believe entrepreneurs should definitely listen to customer feedback and apply it to their ideas.  However, it is important to be passionate about what you're pursuing.  If you stray too far from what you want to pursue or achieve, you may lose motivation.