Sunday, September 22, 2019

Assignment 10 - Elevator Pitch No.1




Could not post elevator pitch here so link is to youtube video of my elevator pitch.

Assignment 9 - Testing the Hypothesis, Part 2


  • WHO: After conducting my five interviews, I have come to the conclusion that there are in fact people who fall outside of the planned market. This group of people are considered bodybuilders and expert dietitians. Three of the individuals I interviewed were members of the University of Florida weight lifting club. They each have had years of experience when it comes to safe workouts and healthy diets. During each interview, the individual admitted that not a lot of people truly know how to properly workout and diet. They thought my idea and opportunity was smart and may potentially be very popular, but would not be heavily used and depended on by people with intense health plans such as bodybuilders. 

 From these interviews I also found out that my market is bigger than originally thought to be. This market is for individuals who have recently retired. I interviewed two people in their mid sixties who have both been retired for less than six months. Both individuals felt that this idea would allow them to stay in shape and prevent them from gaining weight during their retirement. They were both planning on using this app if it was available.

The first interviewee said that many bodybuilders have such unique and complex plans that the app may hinder their progress. The app most likely would not positively impact their health goals, according to this individual.

The two interviewees in their mid sixties also said that along with recently retired individuals, people just starting their health plans would greatly appreciate this app as well.


  • WHAT: The second interviewee mentioned something that can impact the success of the opportunity. Although the app would help many people and their goals of maintaining a healthy lifestyle, the individual would have to initially want to better themselves. If they do not want to improve themselves, this app serves no purpose.



  • WHY: After the interviews, I still believe that the need is not different. It is a matter of how determined the individual is in ensuring that they reach their health goals, and if they will utilize any help that they can to benefit their bodies on their health journeys.


                                   Inside the Boundary                                      Outside the Boundary

Who:                     Recently retired individuals                                       Bodybuilders

               People who have just started their health plans        People who do not want to improve


What:                      To improve people's health                          To create a unique health plan

                 To allow people to better follow their plans             To motivate people to make a plan


Why:  To assist people to maintain a healthy lifestyle, which has additional positive consequences. Friendly competitions between friends to motivate each other to stick to their plans.

Friday, September 13, 2019

Assignment 8 - Solving the Problem

My product/service has to do with providing an app on a smart phone that allows the user to plug in what they have eaten plus their workouts in order to calculate a health plan that is unique to the individual's goals. The app would calculate the diet with the exercise levels to incorporate what is needed to reach those goals.

Some people may have heard of or have even tried MyFitnessPal or HealthTap, but there are significant weaknesses. These provide one or the other (workouts or diets) but do not even mention the other. This opportunity would incorporate both to get the most ideal health plan for specific goals. I would like to create a product/service that focuses and utilizes both workouts and diets to implement one health plan.

I want to have a product/service that can be sold to anyone trying to live a healthy lifestyle. The customers can be first time gym-goers and dieters, people starting back up, or even experts. As of right now, health apps focus on one or the other. They do not incorporate both. This may assist the customer, but most likely will not allow them to reach their goals, causing them to stop mid plan out of frustration.

I think people will want to buy this app so that they can finally reach their health goals, whether that be losing weight, or gaining muscle. Almost all competing apps advertise their success, but with this opportunity, it will be more promising for the average person to reach their goals.

Assignment 7A - Testing the Hypothesis

Working Out and Diet maintaining Phone app

  • Opportunity
  1. Everyday, thousands of Americans are not able to follow, update, or relate their workouts and dieting together to get a better picture of their total health plans.
  • The Who: American adults wanting to obtain a better health plan
  • The What: They fall into the trap of not relating their total active activities to their diets and are unable to see differences in their plan of having a healthier lifestyle.
  • The Why: Having a healthier lifestyle has several positive effects, such as longer life, happier life, etc.



  • Testing the Who: Not just Americans have this need, everyone around the world can have this need. Having a healthy lifestyle is important and has positive effects no matter what country the individual lives in. The Who does not discriminate against gender either; both males and females have this need. The intended who is most likely those who have a hard time with their first steps in trying to become healthier.

  • Testing the What: This opportunity is not just for those who are falling in the trap of failing to stick to their health plans. The opportunity can be for anyone. The app would combine the data from one's diet and daily activities to get a better picture of how the person is doing, related to their personally set health goals.


  • Testing the Why: All people should have the goal to be as healthy as they can be. Previous apps that have similar goals fail to help the customers reach their goal. I plan on combining both their activities and their diet to allow the individual to have a better idea of how they are doing on a daily basis.

  • Interview #1:
In this interview, I found that males that are similar to the one I interviewed (college aged) feel that this opportunity is a great one. The app seems to be very promising. This one individual said that he would for sure try out the app and record the correct data to accurately see how he is doing with his fitness goals. This individual also knows friends, both male and female, that would also use the app, which shows that the opportunity is for both males and females.


  • Interview #2:
This interview was with a graduate student in her mid twenties. She said that she believes the opportunity would be utilized mostly by women. This individual explains that the culture that society has favors that women should "look a certain way". This graduate student explained that the app sounds like a great way to help women better reach their health goals and monitor their diets.


  • Interview #3:
This interview was with a female doctoral candidate. This individual explained that she believes the app will help her get back on track with her diet. I asked if she thought the opportunity would be primarily for people who have previously failed to stick to their plans. This individual mentioned that the app would also help with first time individuals who are new to the idea of working out and dieting. This opportunity is not just for people who have failed in the past due to unsatisfactory apps.

  • Interview #4:
This interview was with a male around the age of fifty. He agreed that working out and dieting helps people live healthier lives. The interviewee went into further detail to explain that only positive things could happen to people who better their lives by becoming healthier. I asked if he knew of anyone who previously has started working out and dieted. He explained that his neighbor just recently started a few months ago and how great she now feels. From this interview, a better idea of the positive effects of healthy lifestyles was determined.



  • Interview #5:
I wanted to interview this individual because I wanted to see how the information would relate to others. I interviewed a trainer at a local gym to see what he thought of the opportunity. This individual explained to me that the number one thing that he sees is people working out to lose weight, but not sticking to their diets. I explained to him the idea of the app, and he seemed to support the need for an app that calculates the diet and workout to get a better picture. This interview allowed me to see that there may be a legitimate need for the opportunity.

  • Given your interviews, what do you know about the opportunity that you didn't know before? 
From these five interviews, I learned a lot about the opportunity that I did not know before. At first, I thought that the opportunity would primarily be for college aged individuals. After these interviews I realized how much the market could increase now that I know the age range of interest is much wider. Additionally, I initially intended for the app to be for people who have previously failed to reach their health goals in past attempts. After interviewing these five individuals, I learned that the opportunity is open for first time gym-goers and dieters. Overall, the Who and the What has grown drastically for this opportunity after testing the hypothesis and interviewing people.

Assignment 6A - Identifying Opportunities in Economic and Regulatory Trends

1. Economic Trend: Financial Markets Control Oil, Gas, and Foods Prices

Where I found it: I found it at thebalance.com. The information said that supply and demand is becoming less important in determining the prices. Foreign exchange traders determine the value. The speed of transactions are also speeding up.

What leads me to believe that this information suggests an opportunity might exist: An opportunity might exist because it no longer depends on supply and demand. Instead, networking may play a bigger role.

Who I think is most likely to be the customer with the opportunity: Anyone who drives long distances would most likely be the prototypical customer.

Is the opportunity relatively easy or relatively difficult to exploit, and why I think so: This opportunity is very difficult to exploit because it is not based on supply and demand anymore. Rather, it may be based on a "who you know" method which could be difficult to take advantage of for a large amount of people.

Why I saw the opportunity: I saw this opportunity because there are people who do not commit to the supply and demand model, but rather take advantage of other methods for opportunities. This opportunity is designed for the population that deals with foreign exchange trading.


2. Economic Trend: Baby Boomers Aren't Retiring

Where I found it: I found it at the balance.com. The information said that over half of the baby boomer generation were forced to delay retirement due to the economic recession. This created a goal to keep costs low and incomes high. This has resulted in younger generations needing to find new ways to find jobs, such as computer technology creating new career paths, or pursuing higher education.

What leads me to believe that this information suggests an opportunity might exist: An opportunity might exist because of the result of baby boomers not retiring. New jobs are being created by and for the younger generations.

Who I think is most likely to be the customer with the opportunity: The customers with the opportunity are those individuals who are newly graduates, and are seeking their first jobs for their careers.

Is the opportunity relatively easy or relatively difficult to exploit, and why I think so: I believe this opportunity is relatively easy to exploit because of the necessity of a huge majority of people needing to work. Creating these new technological based careers will allow these people to find and obtain jobs.

Why I saw the opportunity: I saw this as an opportunity that many people may not have. Most people may see this as younger generations needing to compete with baby boomers for their jobs, but I see this as an opportunity to create new jobs based on our technology, which will benefit our economy as well.

3. Regulatory Change: Data Privacy and Cybersecurity

Where I found it: I found this opportunity at the KPMG advisory page. This opportunity can help better promote safety for those who participate in any online activity.

What leads me to believe that this information suggests an opportunity might exist: An opportunity might exist because privacy and cybersecurity is a growing necessity and many people would be interested in it.

Who I think is most likely to be the customer with the opportunity: Any online business, statistics source, or individuals with social media would most likely be customers with the opportunity.

Is the opportunity relatively easy or relatively difficult to exploit, and why I think so: This opportunity is relatively easy to exploit because of the growing need for it. As the world becomes more and more dependent on technology, more privacy and cybersecurity measures will be needed. Laws and rules restricting open access to other accounts will be heavily supported.

Why I saw the opportunity: I saw this opportunity as a way to advance current safety protocols for online activities. Securing personal privacy would enable customers to feel safer.

4. Regulatory Change: Credit Management

Where I found it: I found this opportunity at the KPMG advisory page. This opportunity can help better promote safer online banking transactions.

What leads me to believe that this information suggests an opportunity might exist: An opportunity might exist because identity theft is a serious issue and could occur when one's credit is not secure. An opportunity for better credit management would be very popular among people who use credit cards with a high limit.

Who I think is most likely to be the customer with the opportunity: People that are dependent on their credit cards for major purchases would most likely be the customers with this opportunity.

Is the opportunity relatively easy or relatively difficult to exploit, and why I think so: This opportunity is relatively difficult to exploit because people tend to be very cautious when it comes to their banking. Exploiting this opportunity would first require obtaining their trust, which could be difficult.

Why I saw the opportunity: I saw this opportunity as a way to better manage online banking transactions for people that are very busy throughout the day. Improving credit management will also allow for a safer, more secure method to ensure that their finances are private.


Thursday, September 5, 2019

Assignment 5A - Identifying Local Opportunities

1. DeSantis on Dorian: Don't Let Your Guard Down, The Gainesville Sun

  • https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0831%21August%2B31&f=advanced&action=browse&format=text&docref=news/175B4C1306ECCBF0
  • With the shift in Hurricane Dorian's trajectory, governor DeSantis still warns Floridians to be safe and cautious about the possible impacts the hurricane can still have. Any additional change in the trajectory of the storm could have major impacts on safety plans of people in certain counties of the state. According to the National Weather Service Advisory, life threatening storms are still a possibility. DeSantis advises Floridians to take action now and to listen to local officials.
  • The problem presented in this story is both natural and an economic one. The storm is the natural problem, and there is not much that people can do to change it. On the other hand, the economic problem is supply and demand for hurricane supplies such as water and gas. The demand for these items may exceed the supply, leading to temporary shortages of water and gas in the areas.
  • The problem affects Floridians in the areas near the coast. These counties and residents would feel the affects the most, compared to other counties. Long lines at grocery stores and gas stations may be observed in these surrounding areas.

2. FDLE Issues Alert for Missing Lake City girl, The Gainesville Sun

3. Multiple Deaths in Fiery Crash on Williston Road in Gainesville, The Gainesville Sun

4. UF Cancels Classes, Closes Campus Tuesday in Advance of Hurricane Dorian, The Gainesville Sun

5. Humane Society Seeks Foster Families in advance of Dorian, The Gainesville Sun
  • https://infoweb-newsbank-com.lp.hscl.ufl.edu/apps/news/document-view?p=WORLDNEWS&t=pubname%3AGSGB%21Gainesville%2BSun%252C%2BThe%2B%2528FL%2529/year%3A2019%212019/mody%3A0829%21August%2B29&f=advanced&action=browse&format=text&docref=news/175AA56BE12B7868
  • The Humane Society in North Central Florida has the goal to place all of their animals in foster care before the hurricane in order to make room for animals that are displaced as a result of the storm. They need to make space because animals from eight surrounding counties will be delivered to the facility in the next few days. If the facility does not have enough space, the animals have to be euthanized in their county's shelter. Transported animals may be sent to other shelters in other states. All of the animals are adoptable, and there is a form for fostering an animal. All expenses in the two week period will be covered by the Humane Society.
  • The problem is that the facility does not have enough room to house all of the animals. They are asking for support by having people foster some of the animals. If not enough space is made, the facility will have to euthanize some of the animals.
  • I think everyone in the area has the problem. People who work at the Humane Society have the problem first-hand, but others also have the problem by needing to foster animals.

Sunday, September 1, 2019

Assignment 4A - Forming an Opportunity Belief

      I believe that there is an opportunity in regard to a better health and fitness program/application. Anyone who diets, works out, or intends to have a healthy lifestyle may have this need. Every setting, whether that be at home, at the gym, or at a restaurant has potential for this opportunity. I believe that I could provide an application that scans any meal, calculates the dietary nutrition, and then further calculates it to best adapt to the individual's workouts. There are apps that calculate nutrition, such as DietSensor and FoodVisor, and there are apps that plan certain workouts, but my belief would be the first app to do both and relate it to each other to ensure optimal health for the user. Without a doubt, this need is not new; it has existed for a while. The United States has a stereotype of unhealthy living but this lifestyle is seen internationally. I plan on helping these individuals obtain better health plans in a manner that is easy to follow. There are a lot of programs out there currently that focus on either diet or working out, I plan on combing the two into one app and for the two to work together to show how the individual is doing. The workout levels will respond to show what impact they have had on the daily meals. As of right now, I would say that I am about 70% sure this opportunity exists.
     
      #1: Early twenties male walking out of the gym

  • What do you think about an app that calculates both an individual's diet and their workout together?
 " I think that is a great idea. I don't know if that exists yet, but I would definitely try it to see how it works."


  • Would you use it periodically throughout the day, or primarily just at the gym or eating?
" I would probably keep up with it throughout the day to see how the nutrition traits are impacted by regular activities like walking."


  • How long have you worked out and eaten healthy? Why did you start?
" I started probably around the age of 15 and have kept up with it regularly since then. Honestly, I started because I knew I wanted to stay in shape and live a healthy life."


  • What is your current workout and diet plan?
" On average I would say I workout for two hours a day and I enjoy walking a lot as well. As far as diet goes, I don't follow any certain plan, but I make sure that I eat a well balanced amount."


  • How satisfied are you with your current plan?
" I think it is going pretty well, but there's always room for improvement. I would definitely try out that app."

REFLECTION: From this encounter, I learned that my idea may be one that is desired and used. I also learned that there may be some interest in the app and how it works. The most surprising thing I learned was that this individual was making sure that he was eating healthy, but was not following any plan. I believe that my idea can help him in living his healthy lifestyle.


  #2: Early twenties female walking to class

  • What do you think about an app that calculates both an individual's diet and their workout together?
 " I like the idea. I'm not sure if I would keep up with it, but my roommate definitely would."



  • Would you use it periodically throughout the day, or primarily just at the gym or eating?
" I would probably use it at the gym to see how it is affecting my calorie intake."



  • How long have you worked out and eaten healthy? Why did you start?
" I workout occasionally and I probably started in high school. This semester I don't have a lot of time to workout, but I still try to eat healthy."



  • What is your current workout and diet plan?
" I would like to workout for like an hour and a half a day, but I also walk. I'm a vegetarian, so I think my diet is pretty healthy"



  • How satisfied are you with your current plan?
" I wish I had more free time to workout, but I think my plan is still not bad. After this semester, hopefully I have more time."

REFLECTION: From this encounter, I learned that not everyone would use my idea fully, but that is fine. I still believe that the opportunity exists. This individual could still use the app for her walking and diet.


  #3: Middle aged female walking out of Publix

  • What do you think about an app that calculates both an individual's diet and their workout together?
 " That's interesting. Does it exist yet? I would try it out."



  • Would you use it periodically throughout the day, or primarily just at the gym or eating?
" I would try to look at it throughout the day at work. I would definitely update it when I am eating."



  • How long have you worked out and eaten healthy? Why did you start?
" I started working out when I was younger and have tried to workout whenever I can now. When I was younger, I started workout out to stay in shape, but now I focus on just living a healthy life."



  • What is your current workout and diet plan?
" I try to workout twice a week on the weekends. It's hard because of my two kids. I do enjoy swimming, so that is also a possibility at home. My diet plan I would say is decent, I don't follow any actual plan, but I try to stay away from junk food."



  • How satisfied are you with your current plan?
" I think it's ok for an average person. I would like to workout more, so hopefully in the near future."

REFLECTION: From this encounter, I believe that my idea has the potential for every age range. I think it was important to talk to someone with children to see what they thought of the idea. I think the app definitely has potential for everyone.


SUMMARY: I definitely think the opportunity is still there after my three encounters. Additionally, I think the customer base is bigger than I initially thought. At first, I thought it would most likely just be for people in their twenties, but now I think that anyone wanting a healthy lifestyle may be interested, regardless of their age. After interviewing a few people, I think it is more accurate compared to when I first started. People have their own opinions about their current plans, but my idea may be able to help them better their plans in order to reach higher levels of a healthy lifestyle. I think entrepreneurs should without a doubt adapt their opportunities based on customer feedback. This would ultimately better prepare themselves to be successful and see what customers want. Although they should adapt to customer feedback, they should not adapt so far that the opportunity is completely different from the original idea.