Wednesday, January 31, 2018

7A – Testing the Hypothesis, Part 1

Developing countries access to online education
Hypothesis: The youth in developing countries lack access to online education due to high costs of technology.
Testing the who: In interviewing the five potential customers, I found that the ‘who’ in my opportunity was a little too broad; while there is youth in developing countries that lack access to online education, there is also youth who are provided access to these materials, therefore the opportunity would not exist. What many of the respondents claimed is that maybe I should narrow the developing countries down to a few or even just one, because not only would it make my opportunity less likely for others to have, it also provides these certain few people with access to materials and knowledge they’ve never had a chance to receive before. This was helpful in that now instead of wasting time searching for an opportunity that reaches a wide variety of people who may or may not have access to online education, I can target a country or even city that lacks the funds to buy technology such as computers, tablets, etc. and from an opportunity through that country/city alone.

Testing the what: When searching for the boundaries of the need, the respondents suggested that maybe the youth are not the only ones facing this need. Not only are students unable to access learning materials through new technology but neither are the teachers, or more so parents of these students. While in some countries, the youth may very well be the only ones with this unmet need. But some countries may lack technology in the professional world. While this may seem crazy due to the state of technology we are in today, many countries around the world aren’t able to access these resources due to high costs of technology. The people I interviewed stood to claim that maybe the youth aren’t the only ones with this problem. I can definitely see an opportunity for a large impact on a country that people may neglect when it comes to education and providing resources that can help not only the youth, but professionals grow and expand intellectually.

Testing the why: After interviewing each of the five people, I found that high costs of technology is the main reason for the lack of access to online education in these developing countries. The people of these countries could attribute this to government restrictions, high costs based off of other countries supply and demand, lack of industrial equipment, etc. The ‘why’ was a more difficult element because without targeting a specific country in the ‘who’, there could be a plethora of reasons that certain developing countries have a lack of access to online education.

Summary: After five lengthy interviews with people of different backgrounds, I found that my opportunity needs a lot of tuning before becoming something I can put into action. Regarding the ‘who’ element of the opportunity, I need to go further into research and find out which developing countries actually need assistance in accessing this technology. In prodding and pushing the limits of my opportunity, I also found that the youth in these countries may not be the only ones who need assistance in receiving educational technology. This is actually helpful because now not only is my opportunity limited to the youth in these countries, but now I could extend my opportunity to professionals. The ‘why’ element of my opportunity is probably the most problematic of all the elements because without identifying and targeting a country or population that needs this access to online education and materials, I cannot move forward in my opportunity. Without the guidance and perspectives of the five people I interviewed, my opportunity is extremely broad and likely to fail. By testing the boundaries of my opportunity, I learned to evaluate each of the elements involved before jumping into action. I found that I needed to target a very specific group of consumers in my ‘who’, identify the unmet needs that this group of people shares in my ‘what’, and find out how to exploit these problems through my ‘what’, and evaluate how I can efficiently make a change in these people’s lives.


6A – Identifying Opportunities in Economic & Regulatory Trends

Economic Trends-
1. Bitcoin apps
A) https://howmuch.net/articles/worlds-money-in-perspective
B) Recently, Bitcoin and other cryptocurrencies have been booming. This sudden rise in bitcoin investment comes from innovative minds creating currencies that help foster economic growth, and ultimately provide consumers ways to invest and make money. With the surge of popularity bitcoin has received, there should be a way to invest and manage your funds on the go.
C) the prototypical customer for this opportunity would be anyone who invests in Bitcoin or other cryptocurrencies.
D) The opportunity does seem a little difficult to exploit, due to the fact that I would need guidance on the app creating process and how to input bank accounts, etc
3) I think I formed the belief that this opportunity exists because many of my friends and peers are involved in the bitcoin and cryptocurrency markets and always seem to be bringing up their big computers to research and invest, when they could be doing the same thing on an app or something similar that allows them to do this on the go.

2. income Inequality
A)  https://www.weforum.org/agenda/2017/09/global-competitiveness-report-2017-trends/
B) With the rise of the fourth industrial revolution, middle class jobs are being taken away and being replaced by either global competitors or technology. With this information, I think there is an opportunity for middle class workers to get involved in jobs that aren’t going to be affected by either of the replacements.
C) Middle Class citizens in advanced economies
D) This opportunity is quite broad, for the number of middle class citizens is not only growing but large already. What this opportunity could present is a way to inform these middle-class citizens about how they can avoid detrimental changes and loss of jobs. This could be through a conference or presentation that could provide them with tools or opportunities they could take advantage of in today’s growing technological market.
3) I believe this opportunity exists because my parents have been going through job search trouble, trying to find markets where they can fit in without fearing they would be replaced by global competition or even technology. While not all people experience this, many would benefit from opportunities that remove them from potential danger and include them where they can make a profitable living.

Regulatory Trends-
1. Mobile Payments – places that don’t have them. use venmo, etc
A) https://www.mobilepaymentstoday.com/articles/how-amazon-go-changes-the-customer-experience/
B) In today’s expanding technological market, people are always on the go. This pace that we live by encourages less wait and more productivity. Being said, mobile payment systems are on the rise. Rather than waiting in a line to pay for products, simply grabbing the product and paying through a smartphone or online makes things very easy and fast. Many companies have realized this and have shifted their attention to mobile payment apps, but many also fall behind.
C) Businesses that lack app assistance and mobile payment technology
D) I don’t think this is an opportunity that is overlooked by smaller businesses, of course they see the rapid changes of today’s society. I just think if there was a simple, easy to use app that allows for mobile payments. This will translate to more sales for stores that don’t see the income that Amazon or other larger retailers see, while also bringing to light the new technology that many live by today.
3) I believe this opportunity exists because I have seen Amazon start to take over by capitalizing on the technological advancements of society. If more small businesses started to use this type of technology, I think they would have more success.

2. Data Security – Privacy (facial recognition- banking apps)
A) https://www.kairos.com/blog/face-recognition-and-the-future-of-security
B) After the release of the new IPhone X, which allows you to unlock your phone simply by looking at it, there are now opportunities to incorporate facial recognition technology into other aspects of society. One opportunity that I thought would be useful is for banking apps. Sure, accounts have passwords, but there is nothing that would prevent no other person from logging into your account more efficiently than facial recognition.
C) A prototypical customer would be anyone and everyone with a bank account
D) I think this opportunity would be relatively hard to exploit because it involves facial recognition technology that nearly everyone can’t afford, but if there was a way to make it affordable, it could be a huge help to data security for banks across the world.
3) While this opportunity may seem out of reach, with the help of investors and banks themselves, I think that facial recognition could nearly replace passwords within the next 20 years. Facial recognition leaves nearly no way to ‘hack’ or get into someone else’s private information.



Thursday, January 25, 2018

5A- Identifying Local Opportunities

Identifying Local Opportunities

Opportunity One
Title: SEWAGE PLANT SPRINGS A LEAK
Description: A sewage plant located near Smacks Bayou in St. Petersburg, Florida had a 266,000-gallon spill, leading to concern about safety in the waters in Tampa Bay. This incident is not the first of its kind, another major spill occurring only two years earlier. City officials are being criticized by the Florida Fish and Wildlife Commission for reopening these sewage plants without proper reconstruction.
Problem: The problem in the story is that the City Officials are not taking proper action to reconstruct the sewage plant, leading to more unneeded sewage spills. One could also say the problem is the construction and efficiency of these sewage plants.
Whose Problem: Sadly, the problem reaches a large crowd of people. Not only does this affect the workers at the sewage plant, the city officials, and the people who consume and use the waters of St. Petersburg and Tampa Bay, but this severely affects the wildlife in the waters in these areas. While sewage may be great for lawns, the toxins in the water can harm and kill several species in the Bays.

Opportunity Two
Title: REVERSAL OF ATV RULE GETS LOUD CRITICISM
Description: A recent reversal of laws concerning ATV’s in Hernando County upset many of the locals, who have had trouble maintaining their property and ensuring neighborhood safety due to reckless drivers in the area. 
Problem: Residents in the Nature Coast area are outraged by the reversal of laws that banned ATV’s from unpaved, lower speed roadways. This allows ATV drivers to continue to drive in these areas, a lot of the times at high speeds. ATV drivers in the area have been noted to be reckless, tearing up the unpaved roads, and endangering residents of the area. While not all drivers are breaking these rules, residents are not happy with the ruling.
Whose Problem: Homeowners in the areas in which unpaved roads are prevalent, taxpayers who are paying for the tearing up of the roads, and city officials who continue to receive complaints about the reversal of the law.

Opportunity Three
Title: SCHOOL BURGLARIZED TWICE IN A WEEK
Link:
Description: Two young men were caught on surveillance at Cambridge Christian in two separate visits. Deputies say they took over $4,000 worth of items.
Problem: Surveillance and security at Cambridge Christian School is either low quality or not doing its job in protecting the valuables of the students and faculty.
Whose Problem: The Sherriff Department in Cambridge Christians county, and all of the affected members whose valuables were stolen. Something needs to be done by the school/ school board to ensure that burglary does not occur so easily next time.

Opportunity Four
Title: NOT EVEN SALES DRAW SHOPPERS
Description: During Memorial Day weekend at the local malls in Tampa, business was extremely slow. Flow of customers was little to none, and workers are even getting cut off at places such as Macy’s and Target due to the drought of retail excellence.
Problem: Brick and Mortar stores such as Macy’s and Nordstrom are struggling to stay in business. During a time where sales are usually through the roof, the plazas and malls that usually hold hundreds of people are quite empty. This could be due to the rapid technology shift to online shopping, or it could be attributed to families wanting to spend more time with each other during the holidays, rather than being sucked into the consumerism trap.
Whose Problem: Business owners and workers of these stores are losing money, and may even close down. Department stores are losing activity dramatically, and the wave of online shopping is taking over.

Opportunity Five
Title:  BUSINESS OWNERS STRUGGLE WITH POWER OUTAGES
Description: Business owners are unhappy with the frequent power outages at and around the intersection of Spring Hill Drive and Mariner Boulevard in Brooksville, Florida.
Problem: The outages have costed the businesses in the area hundreds of dollars, the lack of electricity makes them unable to provide for their customers. A single power outage is one thing, but when it happens once or twice a week, things are out of hand. The business owners also claimed that the local Electric Company continues to fail in fixing the problem permanently.

Whose Problem: Business owners in the Brooksville, Florida area who are negatively affected by the frequent power outages.