Blog Post #6: Assignment 6A - Identifying Opportunities in Economic & Regulatory Trends

Hi guys,

• Opportunities Related to Economic Trends
• Opportunity #1
• Quick Reaction Natural Disaster Services
• I found this opportunity from an article on The Balance, where they discussed how climate change is causing an increased frequency and severity of natural disasters, causing areas at greater risk for such events to invest large sums of money to become safer.
• I believe that since more natural disasters are occurring, there is a greater need for services that provide people with necessities, such as food, water, shelter, etc., for surviving natural disasters.
• The prototypical customer would be someone who lives in an area where a lot of natural disasters, such as tornadoes, hurricanes, or tsunamis, occur. I also believe that people who do not have immediate access to services that can provide necessities for surviving natural disasters would be customers of this opportunity
• I think this opportunity would be relatively difficult to exploit due to the fact that natural disasters can be challenging to predict. I also believe that this opportunity would be very expensive.
• I saw this opportunity because I have experienced many natural disasters. I have seen all of the time and energy that goes into preparing for these events and how by creating greater access to services that help people during times like these can be the difference between life and death.
• Opportunity #2
• Hiring Unemployed and Homeless People to Manufacture Products in US
• I also found this opportunity from an article on The Balance. This article discusses how the United States is declining in global economic power due, in part, to the increased amount of job outsourcing.
• I believe that by manufacturing products of American soil rather than overseas, the US would be able to increase their global economic power. Although, it is typically more expensive to have manufacturing occur in the US rather than in China or another foreign country. However, by hiring those who are unemployed or homeless, who would typically be more than willing to accept a job with any sort of monetary compensation, companies would be able to create more jobs for US citizens while also maintaining their low manufacturing costs.
• Prototypical customers for this service would be US citizens who are either unemployed or homeless.
• I think this opportunity would be relatively easy to exploit since homelessness and unemployment are such major issues in the United States.
• I saw this opportunity because I know that the United States is not only no longer the only super power in the world, but also losing global economic power. Also, since I currently live in Gainesville, I see a lot of homeless people everyday and I always think to myself, "If only somebody could hire them, even if it was for a low paying job".
• Opportunities Related to Regulatory Changes
• Opportunity #1
• More Traditional Retailers and Less Online Retailers
• I found this opportunity in an article on Business News Daily. It discusses how online retailers are expected to see an increase in sales tax, meaning that retailers will be losing money and/or consumers will be paying more for products when purchasing them online. 
• With an increase in sales tax for products purchased online, not only will more people be willing to buy products from traditional retailers, people looking to start their own businesses will be more willing to sell their products in person rather than online to avoid the higher sales tax.
• The prototypical customer would be someone looking to buy cheaper products and comfortable with going to an actual store and purchasing their desired product in person.
• The opportunity is relatively difficult to exploit because people today have a tendency to be very lazy and will sometimes buy a product online for more money rather than in person for a cheaper price simply because of the greater convenience.
• I saw this opportunity because I would much rather pay a lower price and have to go to the actual store to buy something rather than pay more money for an item online.
• Opportunity #2
• Insurance Companies That Make It Easier to Be Approved
• I found this opportunity in an article on Becker's Spine Review. The article discusses how the difficultly of some medical patients to have their appeals be approved by insurance companies may increase in the near future.
• By providing people with opportunities to have their insurance appeals approved at an expedient rate, they would be able to get the medical care they need and be able to pay for it.
• The prototypical customer would be a medical patient that has difficulty getting approved for insurance.
• The opportunity is relatively difficult to exploit because the insurance appeal approval process can be very lengthy to ensure that the right people are getting the insurance they deserve.
• I saw this opportunity because I recently had to try to get an insurance appeal approved and it was a lengthy and daunting process.