9A – Testing the Hypothesis, Part 2

Interview Reflection
      Before conducting the five additional interviews regarding my opportunity, I tried to find ones who would not necessarily hold the same views as the five people that I had interviewed before, but some of the responses were surprisingly similar. Considering that the first five interviews that were conducted were with people who had experience in the industry that allows them to make tips, not the ones who were in management or have never made tips before, I tried to interview people who were either managing a tip-based work environment or people who had never worked/worked a tips job in their life.

Who: There are certain people who share the same opinions with those who have difficulty working with companies that limit their pay rate, however if they do not have the experience working or working where they would receive tips, the fall outside of the boundary of unmet needs. The people that I did interview that had no working experience at all for the most part shared the same concerns and opinions with those I interviewed first, but they did not meet the criteria simply because they had lack of experience.

What: This need can vary from desirable to a true need just depending on the person you are asking. From my interviews, 2 out of the three people in the first set stated that they wanted extra money and a steady pay rate so that they could buy things that they want or go out with friends more, while the rest of the interviewees stated that they would love the extra pay to be able to live a better life and be able to take care of themselves independently. This made me realize that the opportunity itself varies greatly and can cause some issues since it is very broad.

Why: The outsiders' needs are quite different from those inside the boundary, mainly because the ones who are within this boundary actually need this change to happen, while the ones outside are unaffected by this change. This is precisely why change does not occur, because the outsiders' needs are too plentiful and overshadow those who really need change to happen in the service industry.

The Second-Most Important Part of Entrepreneurship

Solution
        My previously stated problem was the issue in the service industry that servers, and customers, face when it comes to tipping after paying for a service. Most people I interviewed had a common theme, that being how tipping causes problems not only for workers, but also customers. The main problem is rooted in American culture, which would make it somewhat hard to find a solution. When it comes to whether a product or a service is needed to solve this problem, I would say for now a service would be appropriate. In this case, the problem itself is within a service, so rather than introducing a new service, it would be ideal to reconstruct and implement new regulations to the service industry itself. For example, certain service companies could implement new rules, where servers' wages could be raised, however customers would not be required to tip. It would obviously take time and an important exchange and understanding between customers and workers, but new regulations and procedures and a change of culture would be the most appropriate, yet complicated, solution to this opportunity. As I do more research, I may find that an introduction of a product or service into the industry could benefit the problem.

7A – Testing the Hypothesis, Part 1

Opportunity
Many American workers in the restaurant and service industry rely heavily on the act of tipping by American consumers, resulting in a lower minimum wage, which is legal for employers to give out.
Who: American service workers
What: Rely heavily on tips to make most of their wages
Why: Culture implemented over many years makes tipping seem moral, but service workers most of the time suffer from this cultural impact.

Hypothesis
Testing the Need: The service workers who receive tips are the main subject of people who share the need.

Testing the What: The boundaries of this need are whether or not all American workers feel this way, because some may be happy with their wages. Also, it depends a lot on the specific industry in which they are working, because some consumers tip more in specific areas rather than others, which makes this situation dependent on setting, and more of a problem.

Testing the Why: Some workers may not believe that tipping is an issue in America, and some may believe that they make way less than they should and should not have to be fully reliant on tips. Some customers may even not want to tip servers, or would rather avoid the situation in which they feel obligated to tip. Either way, customers and service working suffer from the cultural idea of tipping.

Interview Reflection
Considering that the subject here is any American who works in customer service or restaurants, I just interviewed five people who have had experience working as a server or someone who receives tips. I also interviewed people whose pay rate is affected based on whether tips are accepted or not. After the interviews, I concluded that the majority of workers interviewed felt that the main issue is the drop in wages, but also acknowledge that the lower wages are affected by the tipping ideology. Some, however, had no problem with tips or the difference and wage, but I noticed that this was also because the average tips a night that these people would make were much higher than those who had an issue and the opportunity.

Conclusion
After learning about my opportunity and extensively interviewing five subjects who are affected by this opportunity, I can conclude that the opportunity of tipping in America still remains an opportunity, but it can vary between each individual in question. I realized that more people than I thought believe that tips have a bad affect on their working lives. Usually, when I thought of tips, I thought of them as a good thing, but if consumers do not feel the need to tip, then the worker suffers. I believe that this opportunity could be solved so that customer and workers are equally happy.

6A – Identifying Opportunities in Economic & Regulatory Trends

1) Customer Needs Analysis Elevates Sales and Productivity for a Food Industry Client - Infiniti Research's Latest Success Story
a) https://www.businesswire.com/news/home/20190228005765/en/Customer-Analysis-Elevates-Sales-Productivity-Food-Industry
b) This article states how competitive the fast food industry is and how the unmet customer needs are extremely important.
c) The customer in this situation is the people who eat at fast food restaurants
d) The opportunity in this article is stating how certain fast food industries need to meet customer needs in order to grow and beat their competition. The opportunity itself is easy to accomplish, but the customer need needs to be specified for each restaurant.

Considering I found this article about the opportunity, it is safe to say that it does exist and that I did not make it up, however, one could believe that the opportunity does not exist and fast food restaurants are doing good on their own without needing to keep changing their services for customers so rapidly. I believe that the unmet needs of customers are always opportunities and places that offer services, such as fast food restaurants, should constantly change in order to meet the needs of a growing economy and population.

2) Like Apple, these firms satisfy unmet need: Cramer
a) https://www.cnbc.com/2014/09/10/like-apple-these-firms-satisfy-unmet-need-cramer.html
b) Opportunity in this location reveals that some customers do not prefer to take out their credit card every time they pay for something, so Apple took this opportunity to create Apple Pay.
c) The customer in this situation is anyone with a credit card.
d) The opportunity is relatively hard for someone with no prior experience or funds to pull it off, however, Apple is a very large company with the resources to meet the need of it's customers.

I do believe that this need is unmet (now met) because I, myself, have hated taking out my card every time I pay for something and pulling out my phone to pay is so simple, especially since most everyone has a phone. People who do not have phones or who do not care about taking out their cards may not see this as an opportunity, but Apple must have seen enough complaints to label it as an opportunity themselves.

3) The Future of Data Privacy in the United States
a) https://www.cpomagazine.com/data-protection/the-future-of-data-privacy-in-the-united-states/
b) New regulations regarding internet and data privacy are currently being passed in the United States, like CCPA. The opportunity here is taking what most people value (privacy) and allowing them to keep their privacy as technology develops exponentially.
c) The customer is all Americans who have access to the Internet and data.
d) The opportunity is going to be hard to take advantage of, considering that technology is growing so fast and laws take time to pass. So, if the government takes privacy extremely seriously, they should try to keep up with the protection of it's citizens.

I believe that this opportunity is extremely important, and if someone were to think that it is not an opportunity, it would be because they do not value privacy. Everyone values their privacy to a certain extent, as do I, so I believe that this opportunity is very important and should meet the needs of its customers.

4) Here's a better way to do compliance and risk management
a) https://techbeacon.com/security/heres-better-way-do-compliance-risk-management
b) Constant laws and regulations are being put into place dealing with ethical and business issues that some companies cannot keep up with all of the regulations, which makes them extremely vulnerable to getting in legal trouble because of their lack of knowledge of regulations.
c) The customer is any company that has regulations
d) The opportunity here is that companies should be more knowledgeable about the regulations of their company and the federal regulations, but some may not be able to keep up with all of them. It may be hard to implicate a strategy to help these companies better prepare for rules and regulations, but I believe that reaching out and collecting sources that will give them the information they need will keep them out of financial and legal trouble.

Some may believe that companies should already be knowledgeable about the rules and regulations of their own company, but there are a lot of federal regulations that are passed every year, so there must be a way to make it easier for large companies to enforce the regulations rather than get in trouble for not knowing they even exist.

5A - Identifying Local Opportunities

Another chicken sandwich clash? McDonald’s is making two new dishes available nationwide
https://www.gainesville.com/zz/lifestyle/20200128/another-chicken-sandwich-clash-mcdonalds-is-making-two-new-dishes-available-nationwide

• The fast food industry is one of the most competitive in the country, and McDonald's and Chick-fil-A are two of those powerhouses in the industry. The presence of competition is a problem for McDonald's, so one of their solutions is to introduce a chicken biscuit and a chicken sandwich, items that are similar to those on the Chick-fil-A menu. This could be a temporary to McDonald's problem with Chick-fil-A's large presence in the fast food industry, but not be a lasting solution.

Do people like working in the School District of Manatee County? It surveyed employees

https://www.bradenton.com/news/local/education/article239566353.html

• This local article is stating the unmet needs of almost 50% of students in Manatee County who believe that they are underpaid and undervalued in their district. The problem here is that these employees are doing work that is a necessity in the country, however, they feel as if they cannot keep doing this work if they are treated the way they are. The Board of Education in the county has taken consideration of the survey results and will implement a solution moving forward.

Possible solution to slow down drivers on Valley roadways

https://www.abc15.com/news/operation-safe-roads/possible-solution-to-slow-down-drivers-on-valley-roadways

• Most accidents in Phoenix, Arizona are caused by speeding, which is not only careless but dangerous for other drives. The problem here is speeding well over the speed limit (approx. 20-30 miles) and the people who are being directly affected are the citizens of Phoenix. The people of Arizona have issued that the counties issue more speeding clocks around the city and be much more strict when it comes to speeding laws and fines.

Starbucks' results top estimates but coronavirus slows sales

https://komonews.com/news/local/starbucks-results-top-estimates-but-coronavirus-slows-sales

• The problem in this article is that 10% of Starbucks' revenue comes from China, and since the outbreak of the coronavirus, their sales have dropped significantly. The solution to this problem is clearly out of the company's hands, so they will most likely have to wait until they start gaining customers back.

Nike’s online store sells out of Kobe Bryant merchandise

https://www.gainesville.com/zz/news/20200128/nikes-online-store-sells-out-of-kobe-bryant-merchandise

• Nike is he company that is affected by the act that they have sold out of all of famous athlete Kobe Bryant's merchandise quickly following his untimely death. This is a problem, mainly because most of the people who have bought these items plan to profit off the the tragic death of Kobe Bryant, so Nike has planned to stop selling his merchandise to prevent people from profiting off of his death. This will clearly affect Nike's profits, but I believe that they are more concerned about the morality of the situation rather than how much money they will make.

4A - Forming an Opportunity Belief

First Point

       Many students at the University of Florida (UF) have been accepted under the assumption that they can exceptionally multitask their social life, work, and maintain a great GPA in order to get their degrees. This is obviously what is expected of extremely intelligent individuals, or else they would not have been considered to come to such a great school. However, from experience and research, I have learned that the constant juggle of life's objects comes with a very heavy price for most students at the University of Florida. Good grades and clocking as many work hours as possible during the week is what may be defined as a "successful student" but unfortunately at the expense their mental health. I have also gathered that the University of Florida has a Wellness Center for individuals whose mental health has suffered from being in school or even personal situations that they cannot deal with on their own, however, I believe that the system at UF is flawed and there is an opportunity here to fix a serious problem.

Description of My Belief

       Given that an opportunity involving mental health is very broad and could possible representation the population of the world, I have narrowed it down to a sample population of the students at UF, roughly between the ages of 18 and 30. I believe that the need for better counseling has always existed, and the main obstacle at the University of Florida is that 141 student to counselor ratio at UF, and that is just counting the students who have gone to the Wellness Center and received help. Out of the 50,000 students at the University of Florida, there are definitely much more students who need assistance. Also, the Wellness Center at UF Health is completely free of charge to UF students, which is also an obstacle posed not only for the employees but for the school itself. Of course, the counselors who work at the Health Centers are phenomenal at what they do and practice, as well as a diverse team that can speak 14 different languages so that basically any student can be involved and be helped, but there is still an unmet when it comes to not only the process of getting help, but the ratio of students that need help quickly but have to wait to get it because of the high number of clients. This need is clearly trying to be met as fast as possible by the University of Florida, but I am 100% sure that it still exists and could be improved upon greatly, starting with broadening the spectrum of counselors, funding, and advertisement for the Wellness Center.

Opportunity Test and Q&A's

       I am going to be talking to three prototypical customers today, of those being people that I am close to and consider good friends. For personal reasons, I will refer to them as Customer 1, Customer 2, and Customer 3.

Customer 1 (Q&A)

This customer has never sought out the UF Wellness Center but has the need for it.

What is the exact nature of your need?

"I think that, because of school and work I have a lot of confidence that I can do it all myself. But I realized that maybe I need to go back and see a counselor, even if its just a checkup. I had one once before, back home, but I moved away and didn't think a lot about it until I realized that maybe I needed to do it again."

When did you become aware of the need -- that is, do you experience your need all the time or only sometimes? 

"I feel like I've always had the need, even when I was young, but life kind of gets in the way and you forget about these kinds of things, so it's always been in the back of my mind but I thought I could handle the stress on my own."

How long have you had the need? 

"I have always needed some extra help, mentally, ever since I was young, and it really does help, but like I said, I haven't done much to meet this need since I have moved to Gainesville to go to school."

When did you first become aware of their need? Why? 

 "I work a full-time job and go to school full time, and I realized that I'd been going through the motions and I've always been bottling things up, but that doesn't work forever. It's only been a couple weeks since I realized I needed something, and hearing about the UF Wellness Center I thought that I would give that a try soon."

How are you currently addressing your need? 

"I looked up a few resources online, but most of them are quite expensive and I have been looking for something cheaper but good quality as well. I heard about UF Wellness Center but it takes a while to male an appointment so I'm not sure if I'll go there, yet."

How satisfied are you with this solution? 

"I think your solution is a great idea, but it seems like a big challenge since there are so many people at UF and there is only so much money and help that a group of people can give to thousands of students. With enough help and awareness I think that it could work, though."

Customer 2 (Q&A)

This customer is in the process of waiting for the UF Wellness Center

What is the exact nature of your need?

I have been very stressed about life lately and need some sort of help pretty soon.

When did you become aware of the need -- that is, do you experience your need all the time or only sometimes? 

A couple weeks ago I thought I need some help, but it hasn't always been this way.

How long have you had the need? 

Like I said, about a couple of weeks. Off and on my whole life but coming to UF can be stressful.

When did you first become aware of their need? Why? 

My workload and social life was a lot, so I thought that it'd be a good idea to maybe reach out to someone, and I knew about the Wellness center on campus but never thought I could get an appointment until recently when I needed it.

How are you currently addressing your need? 

 I tried to make an appointment with the Wellness Center but it's going to take about a month for them to get me in. I really wish it could be sooner but I guess they just don't have enough people to please everyone.

How satisfied are you with this solution? 

Since I've been waiting a while to get in, I'm pretty satisfied. I just wish that it was easier to access and the wait wasn't so long. Maybe if people payed more attention to how many of us needed it as soon as possible things would change.

Customer 3 (Q&A)

This customer has accessed the UF Wellness Center and has been a recurring consumer.

What is the exact nature of your need?

 I've been going to the Wellness Center for a few weeks now and it has helped me greatly, but the need that started it I guess was me needed some help with my mental health and how I could learn to deal with my stress more efficiently.

When did you become aware of the need -- that is, do you experience your need all the time or only sometimes? 

A little while ago, and only sometimes, really. I guess that's why it was easy for me to wait to get helped at the office, it wasn't a truly urgent thing for me, but I'm sure its hard for someone who really needs it but has to wait.

How long have you had the need? 

Only about a year, but the Wellness Center and the people there have helped a lot, maybe I wish there were more sessions, rather than just six.

When did you first become aware of your need? Why? 

I really liked going to the Wellness Center, but I guess it just felt transactional at times. There are just so many kids and only so many people that can help.

How are you currently addressing their need? 

I am about to be finished with the sessions at the wellness center, so far it has helped, but maybe at the end of the course I can apply for more sessions.

How satisfied are you with this solution? 

They are doing a really great job over there, so I think that I would be satisfied with the solution, but I've gotten the things I needed from the Wellness Center so I think that it is beneficial for anyone who goes to them, I guess its just a matter of how urgent and how personal you want it to be.

Reflection

       From talking with everyone, I can conclude that maybe the need is not really about the quality of the University of Florida Wellness Center, but rather the time that it takes and the spectrum of which students who need it compared to students who don't need it as much come into play. I was surprised to hear specifically from the second customer how long it took for them to get an appointment, especially noticing that they thought they needed it more than any of the other customers.

Summary

       What I can say now from having interviewed and researched the ins and outs of the Wellness Center at the University of Florida is that mental health is an extremely hard problem to solve, and the solutions can range from urgent to simple so quickly, especially with such a large volume of students compared to counselors. I still believe though, that about 50% of my opportunity still remains, and can be profited off of but in a more moral way than just monetary. Considering that the unmet needs themselves are located more within the students than with the Wellness Center system itself, I would say that the opportunity is not as accurate as what I thought first going into this. The system itself is doing all that it can to meet the needs of the students, and while it can improve and broaden its reach towards students, it is also up to the students to look out for themselves, since they are among thousands of others who need the same assistance. I believe that adaptation is apart of everything that we do and if a business or an entrepreneur cannot adapt then they will not be successful. They must be able to gather information based on an opinion they once had and interpret this information to form a conclusion that may or may not change their minds completely, but the entrepreneur him/herself must be open to the idea that their minds can be changed.

3A - My Entrepreneurship Story

My Entrepreneurship Story

Ever since about four years ago, my father and stepmother had hopes to form their own restaurant in the heart of St. Pete, Florida. However, this deemed to be a very risk-filled challenge considering they both had full time jobs. Also, another challenge arose when they discovered that they needed a building and resources to get this restaurant started, which were two things they did not have. They only way for this idea to work out was for one of them to devote all of their time on this idea rather than try to juggle two jobs at once, which is what my stepmother did. This was a large sacrifice but I realized how admirable it was to take such a big risk to do something that you love while making the world a better place. Ever since I bared witness to the determination I thought that I would take some classes at the University of Florida and educate myself on what it takes to be a professional in business who is also independent on their own. I also wanted to measure the risks and rewards of what being an entrepreneur entails and what affect this course may have on my path.