Thursday, September 19, 2019

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.

4 comments:

  1. Jake,
    Great articles that demonstrate a wide range of opportunities. I believe the marijuana business is one that has a lot open opportunities. Especially because it already has markets like cigarettes and alcohol that it can mimic and learn from. So anyone with a great innovative idea should definitely explore their options. Also renewable energy opportunities are on rise especially in the future when theres more emphasis on its beneficial effects.

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  2. Jake,
    Great articles that demonstrate a wide range of opportunities. I believe the marijuana business is one that has a lot open opportunities. Especially because it already has markets like cigarettes and alcohol that it can mimic and learn from. So anyone with a great innovative idea should definitely explore their options. Also renewable energy opportunities are on rise especially in the future when theres more emphasis on its beneficial effects.

    ReplyDelete
  3. Jake,
    You picked a great four articles for your post! I had a post on the weed industry as well. I agree that this industry is growing, making room for a lot of opportunities. However, I feel that it would be hard to enter this industry because you normally need a little bit of background in horticulture, or some experience in growing your own marijuana. Although it may be difficult, you are definitely right that there will be many opportunities striving to participate in the marijuana industry.

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  4. I find it so interesting that you have these conversations with your grandfather. It's a good concept to bounce back ideas with your grandpa to get a perspective of both the older and younger generation. Also, I agree with you in which I believe that once marijuana becomes legal, businesses can really take that opportunity and sell marijuana because it has become very popularized, especially to the youth.

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