Opportunities from Economic Changes:
- American families are leaning more and more on both parents working.
- I heard it from the Dave Ramsey Show (radio show) as well as I see it happening in my friends and family's lives.
- In the past, the mother stayed home with the children at least until they were old enough to care for themselves while both parents worked. However, in today's competitive economy, more and more families are seeing both parents having to work. This can create a financial problem - day cares and nannies can be almost as expensive as a second income might bring in. Teaching men and women to become at-home entrepreneurs allows at least one parents to stay home with the kids while making money.
- The potential customer would probably be a current stay-at-home mother or father, or a young couple that wants to have children but cannot fathom the idea of living off of only one income.
- This opportunity could be difficult to exploit, because teaching people to start business from home is different from ensuring that their business will succeed and make money in a reasonable amount of time.
- I saw this opportunity because my own mom has commented on the fact that she could have made quite a bit of money in the 10 years she took off of work to raise my sister and I, if only she had known how or even realized that it was a possibility.
- Ride share programs like Uber and Lyft are currently unregulated in the US.
- I learned this from doing some extra background research on an opportunity I found in the Miami Herald.
- An opportunity to joint the market exists here. The larger the amount of suppliers of ride share programs and the higher the demand for these types of programs, the sooner regulation will happen and the better chance that when regulation does occur, it would favor the ride programs over the taxicab industry.
- The typical customer would be the customer profile of Uber users - nearly anyone can benefit from ride sharing. College students, people wanting rides to the airport, anyone without a car who needs to run errands.
- The opportunity would be relatively easy to exploit. Ride sharing already exists, so the battle would be to advertise enough to make customers aware of your service.
- I saw this opportunity because I harbor a general distaste for the taxicab industry, and I would much rather see regulation favoring Uber over taxicabs.
Opportunities from Regulatory Changes:
- The NCAA does not pay its athletes (does not even pay for their scholarships) but generates large amounts of revenue from them.
- I heard of this opportunity from my sport-loving friend.
- There is an opportunity here to create private college-aged football teams and pay the athletes in scholarships to the state school of their choice, require them to attend college and keep a certain GPA, and pay them a percentage of the money that their name brings in to the team.
- The typical customer would be a college football fan.
- This opportunity would be very difficult to exploit. America is rooted in its college football and it would take a large upheaval to convince both athletes and fans that separate, private teams are more worth watching. Also, this would take decades and millions of dollars.
- I saw this opportunity because I am not really a big football fanatic, so I don't see how deeply rooted the NCAA is and am able to mentally do away with the NCAA and still see the sports existing.
- The NFL might become more regulated as emerging research shows that Mild Traumatic Bran Injury (MTBI) (concussions) have long-term harmful effects, which opposes the NFL's 1990s statement that concussions ave no side effects.
- I heard about this from professors in my major (Applied Physiology and Kinesiology).
- An opportunity exists here for private research institutions to find biomarkers of MTBI and create portable MTBI-testers to market to the NFL and other sports teams that may experience head injuries.
- The typical customer would be the athletic training departments of professional, collegiate, and high school sports teams.
- This opportunity would be easy to exploit once a biomarker is found, because MTBIs are the hot topic in sports news right now, but finding the biomarker may be difficult.
- I saw this opportunity because I come from a scientific research background and tend to think in terms of "how can research solve this problem?"
hey sarah! your opportunities from economic changes #1 is super relatable! my mom did the same thing and took off work for about 15 years to raise my sister and I and knowing that she could have done that and made a bit of money would have been very appealing to her! also your opportunity from regulatory changes #2 I feel like is a trending topic right now. The amount of players that get concussions each year is heightening which can have long term effects on them. Combating this issue could cost millions of dollars but also save lives.
ReplyDeleteHey Sarah,
ReplyDeleteI think you have found some interesting opportunities to exploit, especially your regulatory changes. I agree that there needs to be change in how college athletics is ran, especially college football, and how much the the major universities generate off of this sport. However, I don't believe the opportunity to exploit MTBI-testers would be easy do because the NFL is extremely powerful in their industry, and it is highly unlikely they would invest in these testers because it would hurt their bottom line. At least in the near future I don't see that happening even though it definitely needs to.
Hey Sarah!
ReplyDeleteI really liked all of the opportunities that you presented! I definitely agree that it could be relatively easy to take advantage of the unregulated ride sharing industry. I remember reading a couple months ago about how a lot of athletes are angry that the NCAA is making money off of merchandise with their names on it. I would be interested to see how the nature of college football and other sports would change if something like that were passed. Great job!