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Friday, September 27, 2019
Testing the Hypothesis part 2
Friday, September 20, 2019
Testing the Hypothesis, Part 1
Football stadiums in the United States are unable to provide adequate food and drink services to all fans–only those who can and want to wait in long lines– because people are old, lazy, overweight, or a combination of the three.
Who-Football stadiums/vendors
What- Unable to provide adequate food and drinks for everyone who wants them
Why-Lines to get food can get extremely long, especially during breaks or halftime. Also, the average age of the prototypical football fan continues to rise; thus, a good portion of fans are old, lazy, and/or overweight.
Testing the Who– All 30 football stadiums around the country share this unmet need for food delivery to individual seats. This need could extent to other sports such as soccer, where the only stoppage in the game is halftime so the lines would be extremely long because nobody wants to miss watching precious game time.
Testing the What– The only boundaries for this need is when it comes to delivering alcoholic beverages. All customers who use the stadium app that are ordering an alcoholic beverage will have to scan their ID on the app. All types of food can be delivered but some of the respondents had qualms about the freshness of the food as it can take time to get the food from point A to point B. Thus, i would implement different food packaging to best preserve whatever the food is. This service would be applicable to anyone that prefers convenience and there are no boundaries to how much food can be delivered either. Food can even be brought to your seat for your whole family from multiple vendors. The "runners" as i would call them would be employed by the stadium, not individual vendors and be assigned to a section, so it doesn't get confusing.
Testing the Why- Stadiums are currently unable to provide delivery food but not everyone has the same reason "why" this is still an unmet need. Responses had to do with having issues implementing the service and getting it approved by the NFL. Others just flat out blamed the fans for their laziness in not wanting to get out of their seat and wait in line. Also, one respondent that has this unmet need claims he doesn't want to miss any game time as he usually pays over 100$ for a ticket.
Overall, the problem exists bc people are hungry but don't want to miss the game or are too fat and lazy to wait and changes can easily be made to accommodate America's continual request for convenience.
Who-Football stadiums/vendors
What- Unable to provide adequate food and drinks for everyone who wants them
Why-Lines to get food can get extremely long, especially during breaks or halftime. Also, the average age of the prototypical football fan continues to rise; thus, a good portion of fans are old, lazy, and/or overweight.
Testing the Who– All 30 football stadiums around the country share this unmet need for food delivery to individual seats. This need could extent to other sports such as soccer, where the only stoppage in the game is halftime so the lines would be extremely long because nobody wants to miss watching precious game time.
Testing the What– The only boundaries for this need is when it comes to delivering alcoholic beverages. All customers who use the stadium app that are ordering an alcoholic beverage will have to scan their ID on the app. All types of food can be delivered but some of the respondents had qualms about the freshness of the food as it can take time to get the food from point A to point B. Thus, i would implement different food packaging to best preserve whatever the food is. This service would be applicable to anyone that prefers convenience and there are no boundaries to how much food can be delivered either. Food can even be brought to your seat for your whole family from multiple vendors. The "runners" as i would call them would be employed by the stadium, not individual vendors and be assigned to a section, so it doesn't get confusing.
Testing the Why- Stadiums are currently unable to provide delivery food but not everyone has the same reason "why" this is still an unmet need. Responses had to do with having issues implementing the service and getting it approved by the NFL. Others just flat out blamed the fans for their laziness in not wanting to get out of their seat and wait in line. Also, one respondent that has this unmet need claims he doesn't want to miss any game time as he usually pays over 100$ for a ticket.
Overall, the problem exists bc people are hungry but don't want to miss the game or are too fat and lazy to wait and changes can easily be made to accommodate America's continual request for convenience.
Solving the problem
The main problem that I identified in previous exercises was the unmet need for delivery food within a stadium during football games and potentially other sporting events. I believe that a large opportunity exists for the huge crowds that American Football attracts. In Major league baseball stadiums, there are roaming vendors constantly offering and selling a plethora of snacks and goodies that fans can purchase from the convenience of their seat. In the NFL, roaming vendors exist to a much lesser extent. I am trying to target the continuing trend of America prioritizing and valuing convenience. The target audience is people who think to themselves at football games, "oh, I am hungry but just can not bear to wait in line for 20-30 min at halftime for hot dog or mini pizza" To solve this issue, in addition to vendors continuing to operate normally with people queuing up for food during a timeout or halftime break, these vendors should offer an uber eats esque type option where fans can go on a stadium app and have food from the vendor delivered to their seat for a small $2 fee. Another feature of the app would be having the option to order your food in advance for a certain time to avoid the lines. If a football game starts at 4 and ends at 730, then you would have the option to place an order for delivery to your seat before the game and choose for it to be delivered at Halftime or a specific time like 530, when you expect the food lines to be long. This need has always existed but has become more of an ubiquitous issue as of late as people have never been more obese; Ergo, people are lazy and want convenience.
Identifying Opportunities in Economic and Regulatory trends
The first opportunity related to regulatory trends is that Bitcoin is not currently well-regulated enough to be traded on major stock exchanges and there is no rush to change this. I found this article on cointelegraph.com and this most affects technology stock investors but also all humans in the long run. Paper money is outdated and when Bitcoin becomes more regulated, it will have a major impact all over the world as it will slowly become the global currency of exchange. I think this regulation and verification process should be sped up as there is an opportunity for so many new markets when Cryptocurrency becomes fully accepted. I saw this opportunity because i think the world is ready and just waiting to make the switch from paper money to all electronic and digital currency.
The second opportunity related to regulatory trends is that now only 7 out of America's top 100 retailers sell guns due to the increasing sociocultural pressure in the U.S. I found this info on 24/7 Wallstreet.com. In light of the recent democratic debates and their incompetence regarding "complete gun confiscation" actually caused gun sales to skyrocket. Gun company's were calling Beto O'Rouke their salesman of the month. Also, More people now want to carry to protect themselves from random mass shootings committed by deranged people. Therefore, I think there is an opportunity for small gun company's to open a lot more stores to take advantage of a market that America's biggest retailers are scared to take part in. This might be difficult to exploit as this would cause significant debate and backlash. I saw this opportunity because I watched the democratic debate and I know how the public reacts to nonsensical garbage, they just do the opposite of what you want them to do!
The first opportunity related to economic trends is that Amazon has recently been accused of not properly checking products from outside companies that they sell on their site. This article was in the new York times. I believe that even know Amazon is a huge company, they should still be meticulous with everything they do to avoid errors or unhappy customers. I think an opportunity exists for Amazon to do product testing with everything it sells on its site to ensure that it is up to their standards. Online shoppers are often hesitant to buy from 3rd party sources on amazon as amazon never sees the product that it sells. I saw this opportunity because Amazon is the most dominant company in the world and i don't find it there current quality control methods effective.
The second opportunity related to economic trends is that kids are getting their first cell phones at the youngest age they ever have in the last few years. I found the article on msnbc. As easy as an Iphone is to use, i don't think it is appropriate for children as young as six or seven to be playing on a phone all day especially with access to things they should not see. An opportunity exists for apple to create a phone designed specifically for young children that focuses and enhances safety features and productive learning. The Prototypical customer is young parents who want to communicate with their kids all the time but dont want to buy them a thousand dollar phone with way too much power. I thought of this idea because children should simply not be using the all mighty and powerful iPhone at such young ages.
Friday, September 13, 2019
Identifying Local Opportunities
Title:Phone issues continue to plague local businesses, residents
http://www.mariettatimes.com/news/local-news/2019/04/phone-issue-continues-to-plague-local-businesses-residents/
All AT&T customers in Washington County are experiencing consistent problems with call quality and the local government and businesses are struggling to operate on a daily basis. One business owner claimed that "we are getting calls but we can't hear the customer so they feel as if we are just ignoring them. It needs to be fixed, and fast." The issue also has concerned parents that are not able to reach their kids in school and AT&T has struggled to fix the problem as they are having trouble identifying the source. AT&T should waive the bills of the affected customers for at least the month due the detrimental effects of the outage.
Tropical Storm watch in effect
https://mycbs4.com/news/local/new-tropical-depression-or-tropical-storm-possible-today
Florida looks to have another tropical system brewing in the Atlantic and it looks like it could come straight to Gainesville The storm could potentially knockout power for days. This is once again a problem for Floridians and an opportunity for grocery stores and convenience stores who could see a sharp increase in sales due to the threat of the storm.
Tomorrow is Hunger Action Day, a day to help those who go hungry
https://mycbs4.com/news/local/tomorrow-is-hunger-action-day-a-day-to-help-those-who-go-hungry
Alachua county has over 50,000 people who are food insecure, which means they don't know where their next meal is coming from. This article was encouraging participation in local events going on for hunger action day and also giving locations for donations to feed the needy. Homelessness is a major problem in this county and the local government needs to do more to cater to their needs. whether its food stamps or temp housing, we can't let humans rot away on the streets.
UF resident assistant accused of sexual battery released from jail
https://mycbs4.com/news/local/uf-resident-assistant-accused-of-sexual-battery-released-on-his-own-recognizance
The attacker was released on his own recognizance essentially because he had a "bright future ahead" This is very concerning for the students of UF to have to be exposed to dangerous predators because of a judge's senseless decision. Cases like this should not occur and measures should be put into place to protect students. At a minimum, we need more emergency buttons on campus.
Publix doesn't want its customers to openly carry guns in stores
https://mycbs4.com/news/local/publix-doesnt-want-its-customers-to-openly-carry-guns-in-stores
Publix decided to join other major retailers and supermarkets in requesting customers not to bring a gun into their stores. This seems like a hypocritical move from a company that has consistently donated to political candidates that support the National Rifle Association (NRA). Customers had mixed responses-some on the left staged "die-ins"while others were outraged with Publix and do not plan on changing their carrying habits. Publix has the problem of trying to satisfy all customers while customers now have the problem of not being able to defend themselves at all times.
http://www.mariettatimes.com/news/local-news/2019/04/phone-issue-continues-to-plague-local-businesses-residents/
All AT&T customers in Washington County are experiencing consistent problems with call quality and the local government and businesses are struggling to operate on a daily basis. One business owner claimed that "we are getting calls but we can't hear the customer so they feel as if we are just ignoring them. It needs to be fixed, and fast." The issue also has concerned parents that are not able to reach their kids in school and AT&T has struggled to fix the problem as they are having trouble identifying the source. AT&T should waive the bills of the affected customers for at least the month due the detrimental effects of the outage.
Tropical Storm watch in effect
https://mycbs4.com/news/local/new-tropical-depression-or-tropical-storm-possible-today
Florida looks to have another tropical system brewing in the Atlantic and it looks like it could come straight to Gainesville The storm could potentially knockout power for days. This is once again a problem for Floridians and an opportunity for grocery stores and convenience stores who could see a sharp increase in sales due to the threat of the storm.
Tomorrow is Hunger Action Day, a day to help those who go hungry
https://mycbs4.com/news/local/tomorrow-is-hunger-action-day-a-day-to-help-those-who-go-hungry
Alachua county has over 50,000 people who are food insecure, which means they don't know where their next meal is coming from. This article was encouraging participation in local events going on for hunger action day and also giving locations for donations to feed the needy. Homelessness is a major problem in this county and the local government needs to do more to cater to their needs. whether its food stamps or temp housing, we can't let humans rot away on the streets.
UF resident assistant accused of sexual battery released from jail
https://mycbs4.com/news/local/uf-resident-assistant-accused-of-sexual-battery-released-on-his-own-recognizance
The attacker was released on his own recognizance essentially because he had a "bright future ahead" This is very concerning for the students of UF to have to be exposed to dangerous predators because of a judge's senseless decision. Cases like this should not occur and measures should be put into place to protect students. At a minimum, we need more emergency buttons on campus.
Publix doesn't want its customers to openly carry guns in stores
https://mycbs4.com/news/local/publix-doesnt-want-its-customers-to-openly-carry-guns-in-stores
Publix decided to join other major retailers and supermarkets in requesting customers not to bring a gun into their stores. This seems like a hypocritical move from a company that has consistently donated to political candidates that support the National Rifle Association (NRA). Customers had mixed responses-some on the left staged "die-ins"while others were outraged with Publix and do not plan on changing their carrying habits. Publix has the problem of trying to satisfy all customers while customers now have the problem of not being able to defend themselves at all times.
Forming an opportunity belief
I believe that a large opportunity exists for the huge crowds that American Football attracts. In Major league baseball stadiums, there are roaming vendors constantly offering and selling a plethora of snacks and goodies that fans can purchase from the convenience of their seat. In the NFL, roaming vendors exist to a much lesser extent. Trying to target the continuing trend of America prioritizing and valuing convenience. The target audience is people who think to themselves at football games, "oh, I am hungry but just can not bear to wait in line for 20-30 min at halftime for hot dog or mini pizza" To solve this issue, in addition to vendors continuing to operate normally with people queuing up for food during a timeout or halftime break, these vendors should offer an uber eats esque type option where fans can go on a stadium app and have food from the vendor delivered to their seat for a small $2 fee. Another feature of the app would be having the option to order your food in advance for a certain time to avoid the lines. If a football game starts at 4 and ends at 730, then you would have the option to place an order for delivery to you seat before the game and choose for it to be delivered at Halftime or a specific time like 530, when you expect the food lines to be long. This need has always existed but has become more of an ubiquitous issue as of late as people have never been more obese;Ergo, people are lazy and want convenience. I am between 80-90% sure that this opportunity exists and is there for the taking.
All 3 people interviewed were random
When attending a football game, do you feel that all your dietary needs are covered?
Response 1
"Actually, No I have had arthritis in my knee for 6 years and if I want food during the game, it can be very onerous and painful to get up and wait in line."
Response 2
"The long lines can also end up with me missing half a quarter. So if my dietary needs are covered then it also means my football needs are not because I can't watch and game and wait in line at the same time."
Response 3
"It depends on where my seat is located. What if the food place I am craving is on the other side of the stadium? Thats not convenience."
Do you see a potential market for food delivery during sporting events due to the current culture of the US, and the rising average age of NFL viewers?
Response 1
"When you put it like that, Yes, it seems there might be potential but it would be challenge to prove to the vendors that this service would add to their profitability."
Response 2
"The NFL should really look into this as their viewer ratings are already down, so they should be doing everything possible to try and bring people out to the games and food delivery would almost definitely appeal to the older crowds."
Response 3
"It might be difficult to implement as people often change seats during the game and it could be hard to deliver food in a crowded stadium. However, if implemented effectively, I see potential in the near future if you can get Roger Goodell on board."
How do you currently respond to the need for food while attending a football game and would food delivered to you seat change your current habits?
Response 1
"As I said earlier, dealing with arthritis has made it difficult to get up constantly during games so it just ended up becoming my wife's responsibility to get food. But god for bid if she was to get arthritis too, food delivery would allow us to keep coming to games."
Response 2
"I try my best to time it out to avoid the lines at halftime so I usually get up from my seat with around 2 minutes left in the first half. It sucks having to spend over $100 on a football ticket then being stuck in line for some of the most crucial plays in the game. I would definitely prefer food delivered to my seat so I can watch the whole game and fulfill my constant hunger"
Response 3
"I usually just settle for food that is located in my immediate section. I don't want to miss valuable game time walking around the stadium and waiting in line for food. Thats not what I pay to come here for. So, the answer is yes, i would take advantage of a food delivery service as long as the delivery fees aren't excessive and the service is timely."
Overall, the feedback on the opportunity was mainly positive with a few basic reservations that come along with most new ideas. However, one person that I interviewed really made me think how difficult it could be for employees of the vendors to locate customers in a sea of crowded seats. I learned that this opportunity would be especially beneficial to older fans who do not have the ability to stand in line for extended periods of time. This idea can benefit anyone who attends these games regardless of age, sex, or background which is key to profit maximization.
I think my original opportunity is still alive and possible. There are boundaries and agreements that would need to be reached by the NFL and all stadiums which could take awhile to establish. I think the valuable feedback that I gathered through the interviews exposed me to a few potential issues but also reenforced that this is a real possibility that could be extremely beneficial to not only customers, but also the NFL.
It is imperative to cater to the needs of the consumer; Thus, entrepreneurs should be very adaptable when it comes to adjusting aspects of their businesses if it is going to make the consumer more satisfied. I don't see a limit on how adaptive an entrepreneur should be. He/she should constantly be looking for change and innovation to stay ahead of the curve.
All 3 people interviewed were random
When attending a football game, do you feel that all your dietary needs are covered?
Response 1
"Actually, No I have had arthritis in my knee for 6 years and if I want food during the game, it can be very onerous and painful to get up and wait in line."
Response 2
"The long lines can also end up with me missing half a quarter. So if my dietary needs are covered then it also means my football needs are not because I can't watch and game and wait in line at the same time."
Response 3
"It depends on where my seat is located. What if the food place I am craving is on the other side of the stadium? Thats not convenience."
Do you see a potential market for food delivery during sporting events due to the current culture of the US, and the rising average age of NFL viewers?
Response 1
"When you put it like that, Yes, it seems there might be potential but it would be challenge to prove to the vendors that this service would add to their profitability."
Response 2
"The NFL should really look into this as their viewer ratings are already down, so they should be doing everything possible to try and bring people out to the games and food delivery would almost definitely appeal to the older crowds."
Response 3
"It might be difficult to implement as people often change seats during the game and it could be hard to deliver food in a crowded stadium. However, if implemented effectively, I see potential in the near future if you can get Roger Goodell on board."
How do you currently respond to the need for food while attending a football game and would food delivered to you seat change your current habits?
Response 1
"As I said earlier, dealing with arthritis has made it difficult to get up constantly during games so it just ended up becoming my wife's responsibility to get food. But god for bid if she was to get arthritis too, food delivery would allow us to keep coming to games."
Response 2
"I try my best to time it out to avoid the lines at halftime so I usually get up from my seat with around 2 minutes left in the first half. It sucks having to spend over $100 on a football ticket then being stuck in line for some of the most crucial plays in the game. I would definitely prefer food delivered to my seat so I can watch the whole game and fulfill my constant hunger"
Response 3
"I usually just settle for food that is located in my immediate section. I don't want to miss valuable game time walking around the stadium and waiting in line for food. Thats not what I pay to come here for. So, the answer is yes, i would take advantage of a food delivery service as long as the delivery fees aren't excessive and the service is timely."
Overall, the feedback on the opportunity was mainly positive with a few basic reservations that come along with most new ideas. However, one person that I interviewed really made me think how difficult it could be for employees of the vendors to locate customers in a sea of crowded seats. I learned that this opportunity would be especially beneficial to older fans who do not have the ability to stand in line for extended periods of time. This idea can benefit anyone who attends these games regardless of age, sex, or background which is key to profit maximization.
I think my original opportunity is still alive and possible. There are boundaries and agreements that would need to be reached by the NFL and all stadiums which could take awhile to establish. I think the valuable feedback that I gathered through the interviews exposed me to a few potential issues but also reenforced that this is a real possibility that could be extremely beneficial to not only customers, but also the NFL.
It is imperative to cater to the needs of the consumer; Thus, entrepreneurs should be very adaptable when it comes to adjusting aspects of their businesses if it is going to make the consumer more satisfied. I don't see a limit on how adaptive an entrepreneur should be. He/she should constantly be looking for change and innovation to stay ahead of the curve.
My Entrepreneurship Story
The first time I recall being knowingly exposed to entrepreneurial practices occurred when I was 4 years old with my Grandparents. My parents and all their family before my generation all lived in the United Kingdom, Until my parents boldly decided to just drop everything and start fresh in the land of opportunity. Because of my family's lifelong connection to Manchester, England where all of my family still lives, my parents took me to visit every summer for extended stays of 6 weeks or even more. When I was four and my grandparents were still in the workforce, they began taking me with them to "the market" as they would call it, which is essentially an outdoor, covered marketplace with individual sellers trying to sell there products to customers as they walk by. My grandparents have been selling men's and women's high quality clothing for nearly 40 years before this experience and their passion and effort to attempt to make every sale possible didn't resonate at the time, but now I can understand that when starting a small business from ground zero, there are so many minor things that could go wrong, so it is essential to utilize some type of evolving routine and strategy in how to run the business. As they would make sales, they used to let me wear a fanny pack and they would give me a little something to get candy or a toy at another booth on the market. My grandparents even took me to their bulk suppliers place of business once a week during the summer to buy knitted sweaters and jumpers at low bulk prices so they could maximize profits.
Well to be honest, I am taking this class as it is required for my degree. I feel it could be a little basic as I was in a 4 year high school finance program and already have a head start on most of the topics we will be covering based on the syllabus. I am looking forward to being able to "develop a concept for a viable. scaleable business."
Well to be honest, I am taking this class as it is required for my degree. I feel it could be a little basic as I was in a 4 year high school finance program and already have a head start on most of the topics we will be covering based on the syllabus. I am looking forward to being able to "develop a concept for a viable. scaleable business."
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