Halfway Reflection

In order to keep up with the requirements for this course, one of the most important behaviors I used was managing my time and scheduling a time to work on this class each week.  Since I have no class on Thursdays, and my assignments in my most time-intensive class are due on Wednesday, Thursday has been a great day for me to work on this class.  My only suggestion is that you do your assignments at least 24 hours in advance since some of them require interviews, which can be difficult to arrange in-time.  The other behavior that has helped me keep up with this class is spending time picking something I cared about for my business idea, which has made the assignments much more enjoyable.

While not in this class, a moment when I felt like giving up was during the first design report for EML2322L, design and manufacturing lab (DML).  In this assignment, I had two weeks to design a robot to move tennis balls from a 3-tiered wooden frame into a bucket that satisfied a given set of design constraints.  I then had to make detailed drawings of the robot, made to-scale using straight edges, engineering paper, and a compass, complete with dimensions and material specifications.  I had to draw the whole robot from the front, top, side, and isometric view, and do the same for all of its subsystems.  I am not artistically inclined, and I had never undertaken such a large project within such a short period of time.  On the night I started my first drawings, 4 days before they were due, I had a panic attack because I didn't think I would be able to pull it off, and I felt like giving up.  I had to call my parents and my big sister to calm myself down, and then I talked to my friends and planned to work with them in the library while I did the drawings.  Over the next 3 days, I easily spent at least 25 hours on the drawings, but I got them all done and felt hugely relieved.  I feel like I definitely developed a tenacious attitude over the past 2 months, and overcoming my first design report contributed most to this.  If I can get through that, you can get through any assignment this class can throw at you because none of them are nearly as bad as what I had to do for DML.

One of the most important tips I can give you for fostering the skills that support tenacity is to find something that drives you to succeed.  For me, it is my love of exotic cars; below I have included a picture of me with a Ferrari F50 and F40 LM from a car show in Naples (the combined value of the two is roughly $9 million).  Since I view success in school as increasing my chances of owning an exotic car, this drives me to succeed in my courses.  Another tip for developing the tenacious mindset is to see yourself as unstoppable, and believe that no assignment, class, or professor is worthy of preventing you from achieving your goals.  The final tip I have for you is to realize that you have all the tools you need to succeed; you are in one of the best country's to live in (the very best in my eyes), you're at one of the best schools in it, and you wouldn't be here if you weren't among the smartest people in the country yourself.  You've got this! :)

Reading Reflection #1

1) You read about an entrepreneur:

·        What surprised you the most?

I was surprised that the man who grew McDonald's into the largest fast food franchise in the country was at one point an avid pianist who opened a music store with his friends, and later played for a high-end bar.

·        What about the entrepreneur did you most admire?

I most admire his work ethic.  Kroc routinely worked long hours for years, and although it caused his personal relationships to suffer (like his marriage with Ethel), I admire anyone with the amount of drive and determination to work that hard for such a long period of time.

·        What about the entrepreneur did you least admire?

On the flip-side of my last point, I least admired his lack of ability to balance work with his personal life and relationships.  I believe that you should work to live, rather than living to work, which was all-too-often the way Kroc lived his life.  As a result, his first two marriages suffered.  To me, being able to effectively balance your work with your personal relationships and other passions is very important, and something I value in my own life.

·        Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

One instance when Kroc encountered adversity was when he had to give 60% of the money, he made selling multimixers to the paper cup company he used to work for, and he struggled to make ends meet.  Another instance was when he opened the second McDonalds establishment and he repeatedly failed to make the French fries correctly, despite following the specific directions from the McDonalds brothers.  Eventually, he had to call-on outside experts to understand what was wrong with the way he was making the French fries.

2) What competencies did you notice that the entrepreneur exhibited? 

He was persuasive, such as when he convinced the McDonalds brothers to allow him to grow their business.  He was a very good salesman, who knew when to stop talking so he wouldn’t drive a potential customer away.  At the same time, he was an honest and ethical salesman, which helped him maintain loyalty with his clients.  He also always sought to grow and improve as a businessman, even from a very young age. 

3) Identify at least one part of the reading that was confusing to you.

Kroc’s writing style was very easy to follow, as he uses a very casual, conversational tone, so I never had any issue with understanding what he was trying to say.  In the early parts of his story though, it was kind of hard to keep track of all the different ventures he was pursuing, as he often did more than one at a time, and he switched occupations out often as some failed and others were replaced by better opportunities.

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

I would ask him if he could go back to when he was first began selling the Multimixer, what would he do differently, if anything at all?  I would also ask him, what is your biggest regret from your career?  I would ask him these questions to gauge if his success in the business world was worth the sacrifices he had to make in his personal life, and I also just think it’d be really interesting to hear the answers he would have for these questions.

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion? 

“Work is the meat and hamburger of life.”  I think that Ray Kroc held a very high opinion of hard work.  He always had a desire to work to achieve his goals and enjoyed it as an important part of his life.  I myself do regard hard work as good and important, however, I do not view it as what I enjoy doing; it is a means to an end for me.  Hard work will hopefully allow me to enjoy the lifestyle I want, but hard work is not what I enjoy doing.

Figuring Out Buyer Behavior Number One

My segment: Automobile owners who own non-luxurious cars and routinely (about once every two weeks) drive on journeys more than two hours long.  They are working, middle-class people ages 18-65 years old.

Interview one - Pamela, 55 year-old female:
Q: When do you start to feel uncomfortable in your car?
A: When I am driving from Gainesville to Cape Coral to visit my mom, I usually start getting uncomfortable and restless around Tampa.  If I had to pick a time, I would say after two hours in the car.
Q: How do you start feeling the need for a more comfortable car seat?
A: After a long enough time of driving and sitting in the same spot, I just start to feel uncomfortable.
Q: Where do you start to feel this need for a more comfortable car seat?
A: While driving my car.
Q: What kind of car do you drive?
A: 2012 Hyundai Sonata

Q: Whenever you feel a need like this, how do you first go about finding a solution, should you choose to do so?
A: I first do a Google search.  For your product, I'd look up something like "padded car seat cover."
Q: What sources of information do you look for?
A: Whenever I search for a product on Google, I like to see what options are available on Amazon, since they have two-day shipping and I can read reviews.
Q: Do you go to friends and family to help find a solution to your problem?
A: If I know someone who already uses a product that I'm interested in, then I will ask them about it, but usually I can just find what I need on Google.

Interview two - Dale, 62 year-old male:
Q: When do you start to feel uncomfortable in your car?
A: When I'm driving a long time, or when I'm stuck in bumper-to-bumper traffic and I have to keep pushing the clutch in and out to inch along.
Q: How do you start feeling the need for a more comfortable car seat?
A: I don't know, after a while, my body just starts feeling sore.
Q: Where do you start to feel this need for a more comfortable car seat?
A: In the car I guess.
Q: What kind of car do you drive?
A: A 2010 Ford Fusion.

Q: Whenever you feel a need like this, how do you first go about finding a solution, should you choose to do so?
A: I usually just search it in Google.
Q: What sources of information do you look for?
A: I look for different websites that sell products like the one I want and try to figure out which is best.  I try to avoid buying anything made in China or Vietnam.
Q: Do you go to friends and family to help find a solution to your problem?
A: Sometimes I'll ask my brother or sister for help, but only if it's a more serious decision like a car or a new TV.

Interview three - Cara, 23 year-old female:
Q: When do you start to feel uncomfortable in your car?
A: Whenever I have to drive from New York to Philadelphia I get restless and uncomfortable; like I have to keep shifting my weight around so I don't get too sore.
Q: How do you start feeling the need for a more comfortable car seat?
A: I don't know, I guess my body just starts letting me know that it's uncomfortable when it's time.
Q: Where do you start to feel this need for a more comfortable car seat?
A: In my car on long drives
Q: What kind of car do you drive?
A: I drive a Jeep Wrangler


Q: Whenever you feel a need like this, how do you first go about finding a solution, should you choose to do so?
A: I look on Google.  I like trying to find reviews on a product before I buy it; if it doesn't average 4/5 stars then I usually won't buy it.
Q: What sources of information do you look for?
A: Yelp is good, and then Amazon and Google reviews are also really helpful.
Q: Do you go to friends and family to help find a solution to your problem?
A: Not really, I can usually find everything I need online.

I learned that the individuals in my target segment all feel the need for a more comfortable car seat in their car on long trips, as I had already determined during "Testing the Hypothesis, Part One."  I also learned that they usually start their information search via Google by looking up the type of product they are interested in.  Two of the people in my segment stated that product reviews are a valued part of their search for more information on a product.  The other person preferred to look on the websites selling the product for information, specifically to find out where it is made since that is important to them.  None of the people I interviewed relyed on consulting friends and family during their information search, although one person did mention that it would be an important source of information for a high-risk purchase.

My segment is aware of their need, and they would primarily use online resources (especially Google and user reviews) to find out more information on it.

Idea Napkin Number One

Who I am: I am a senior mechanical engineering student who is passionate about cars, animals, travel, and food.  I am good at video games, public speaking, and racing go-karts.  Some of my more business-related skills include Microsoft Office, time management, and a strong work ethic.  I have survived 4 years of engineering curriculum, and I also interned for two summers at a travel company that takes customers on luxury Porsche driving tours through Europe.  I have also been to countless car shows where I get up-close with a wide variety of cars, which provides a lot of the design inspiration for my padded seat cover idea.  I aspire to finish my BS in mechanical engineering, then get my MBA and try to earn as much money as I can to afford my dream cars and travel.   If I were to start this business, I would try to grow it on the side until it became profitable, then devote all of my time to it with the end-goal of selling the company for at least several million dollars.

What I'm offering to customers: I am offering customers a way to make their car seats much more comfortable on long journeys while simultaneously making the seats more attractive.  The seat covers will be padded to provide additional comfort, while a selection of styles, colors, and materials will allow customers to customize their seat covers to suit their taste.

Who I'm offering this product to: My customers are automobile owners who drive for more than 2 hours at a time on a semi-regular basis.  They are mostly middle-class and do not have especially luxurious cars that would make long journeys more comfortable.  Some of them suffer from back pain or other preexisting conditions, which makes them more inclined to seek out a way to make their car seat more comfortable, like my padded seat covers.  They comprise a wide range of ages, from 18 years old and up.

Why they care: They care because they value their comfort enough to seek out a solution to their car seat's lack of comfort and pay for it.  They also care enough about the style of their car's interior to seek out a more attractive solution than the existing cushions and padded covers on the market.  They also care because they like the ability to create a unique seat cover that reflects their personal tastes.

My core competencies: My knowledge of automobiles, including the interior design and materials, is exceptional.  Also, I am good at planning and staying disciplined to achieve my goals, which will be very helpful for getting the business off the ground.

I definitely think that these elements work well together.  I understand the types of customers who would buy my product, and through the interviews I have conducted, I know what their needs are and how to tailor my product to satisfy them.  My personal attributes also fit well with the business idea, as I am in-tune with trends in the car industry which influence the design and material options for my seat cover both now and going forward.  The only thing that does not fit very well is my knowledge of how to make the seat covers, as I have no experience with sewing or producing fabric.

Elevator pitch

https://www.youtube.com/watch?v=WbG0tI1HnEk&feature=youtu.be

Testing the Hypothesis, Part 2

Interview number 1: Jazlyn, 21 year-old female

After interviewing Jazlyn, I found that although she drives about 4 hours to go home to Fort Myers on some weekends, she does not feel the need for a more comfortable car seat.  She drives a 2015 Mazda 3, which is not an exceptionally luxurious car, yet she does not get uncomfortable on long drives from not having a plush enough seat.  The only thing she did mention is that her legs do tire of being in the same position, so she sometimes likes to pull off the interstate and take a break to stretch when she has to get gas or something, but we both agreed that this need is separate and unaffected by the need for a more comfortable seat.  She thinks that the comfortable and stylish seat covers are a good idea, but she does not see herself buying one.

Interview number 2: Stephen, 22 year-old male

Stephen, like Jazlyn, drives home on some weekends, although he goes to Stuart rather than Fort Myers.  The drive is similarly long to Jazlyn's, and like Jazlyn, Stephen does not feel the need for a comfortable and stylish car seat cover.  Stephen drives a 2012 Ford Fiesta, which is not an exceptionally luxurious car.  Despite this, he does not experience soreness/discomfort on his drives to Stuart.  He told me that his car is comfortable enough, and he's usually too busy jamming-out to his music, which makes the drive go by fast, which may also distract him from noticing any mild discomfort his seat may cause.  He likes the look of the seat cover styles that I showed him, but not enough to buy one right now since he is a college student that has to pay for his own school and he needs to save his money.  He may be interested in getting one in the future purely for the look, but he does not feel the need to get one to be more comfortable.

Interview number 3: Peter, 76 year-old male

Peter owns his own small travel company that takes clients on luxury Porsche driving tours of Europe, and he drives all over the state to promote his business at various automotive events, like Festivals of Speed and the Amelia Island Werks Reunion.  On these trips, he typically drives his 2015 Porsche Panamera GTS, which strikes a strong balance between luxury and sportiness.  He does not feel the need for a plush/stylish seat cover, because the seats in the Panamera are already very supportive, comfortable, and beautifully upholstered.  He also likes to drive the Panamera fast, which makes driving fun and keeps him distracted from thinking about how comfortable he is.  He told me that while there are probably plenty of people who would like a stylish and comfortable cover for their car seat, he doesn't think that a lot of them will feel the need strong enough to go out and look for a solution like mine.  He himself would not buy one since he's extremely happy with the seats in his car.

Interview number 4: Tasha, 35 year-old female

Tasha lives in Oldsmar and she has family in Key West who she tries to visit at least once per month.  She drives a 2014 manual transmission Volkswagen Jetta which she loves.  She loves my idea and would buy it if I made it just to support me, but otherwise, she probably wouldn't buy a stylish and comfortable seat cover for her car.  While her drives to Key West are long and mostly boring, she is perfectly content with the amount of comfort her car provides, even though it's not a spectacularly luxurious car.  I asked her why she didn't feel discomfort, even though people I have interviewed in the past with similar cars (see testing the hypothesis, part one) did get sore in their seat on long trips like her drive to Key West.  She wasn't totally sure but suggested that maybe those people are just more sensitive to discomfort than she is.

Interview number 5: David, 64 year-old male

David occasionally drives from Saint Petersburg to Gainesville or Fort Myers to visit his two children who go to UF and FGCU, respectively.  He drives a 2016 BMW M235i, which is a premium vehicle, but it places a much stronger emphasis on sportiness than luxury/comfort.  He says that although he does sometimes get slightly uncomfortable in his seat on these long drives, he does not feel the need for a more comfortable seat, and he would not buy a comfortable/stylish seat cover like the one I showed him.  He doesn't think that a seat cover would look good in his car, and he would also be concerned about the cover becoming loose on the seat and sliding around on top of the leather.  He says that although he does feel mild discomfort, it never becomes severe enough for him to want to buy a seat cover or other solution for the problem.

Who: The people I interviewed shared a lot in common with the ones I interviewed who did feel the need for a comfortable/stylish car seat cover, yet none of them felt that need, so they would not purchase my product.  The reasons for why they did not feel the need varied and included already having a comfortable car, not being uncomfortable enough to care to look for a solution, not being sensitive enough to feel discomfort, and keeping themselves busy while driving so they don't think about it.

What: The need for a more comfortable car seat only relates to the comfort of the parts of you in the seat.  This need is separate from the need for a more comfortable driving position, the need to stretch your legs, and the need for a more supple ride.

Why: I'm not exactly sure what to put here, as none of the outsiders felt the need for a more comfortable car seat, so there is no cause of the need for them to differentiate from the cause of the need for the other people I interviewed who do feel the need.  I do think though, that some alternative explanations beyond the plushness of the seat for the discomfort felt on long drives in the car may include the car's ride quality, the person's driving position, pre-existing conditions like back pain, and how sensitive a person's senses are to discomfort.

Inside the Boundary	Outside the Boundary
People who drive on long trips that feel discomfort as a result of their car’s seat providing inadequate comfort.	People with luxury cars, those who aren’t sensitive enough to notice discomfort, those who keep themselves busy so they don’t notice, those who don’t care enough about the discomfort they feel to do anything about it, those who don’t own a car, those who do not drive their car on long journeys.
The need is a more comfortable car seat	The need is not a better driving position, softer suspension, or needing to stretch your legs.
The need exists because typical car seats are not very plush	The need may also stem from pre-existing conditions, the sensitivity of someone’s perception of pain, poor ride quality, poor driving position

Solving the Problem

My selected opportunity is that people get uncomfortable on long car journeys unless they have an especially luxurious/comfortable car.  The solution that I propose to this is to make comfortable, plush, and thick seat covers that cover the entire seat and wrap around all the way to the back of the seat.  The options currently on the market are mostly just cushions for the seat bottom, and the ones that cover the entire seat are either boring or flat-out ugly in their design.  The seat covers that I would like to make not only have enough plush padding on the bottom and backrest to make long trips comfortable, but they will also be stylish and attractive, offering different styles to complement different cars and personal tastes.  For the padding, plush memory foam would be chosen, and there would be different options for how the seat is contoured and bolstered depending on the level of support the driver desires.  As for the skin of the seat, material choices would include premium Napa leather, standard leather, alcantara, standard cloth, sporty cloth, and ultrasoft polyester (like a plush blanket).  Seat styles would include conservative, sporty, grand touring, and executive, which would be like the seat styles pictured below.  Conservative styles would mimic typical entry-level luxury car seats, like the Mercedes C300 seats shown in figure 1.  Sporty seat styles would mimic entry-level sports car seats, like the Honda Civic Type R seats shown in figure 2.  Grand touring seat styles would mimic the seats in cars that are fast yet luxurious, like an Aston Martin or like the Spyker C8 seats shown in figure 3.  Elite seat styles will be the poshest; they will mimic ultra-luxury car seats like a Rolls Royce or the Bentley Continental seats shown in figure 4.  The seat covers would be priced depending upon the amount of padding, style, and material options selected.

Figure 1: Mercedes C300 seats (conservative style)

Figure 2: Honda Civic Type R seats (Sporty style)

Figure 3: Spyker C8 seats (grand touring style)

Figure 4: Bentley Continental seats (Elite style)

Testing the Hypothesis, Part 1

The opportunity I have identified is that car seats are uncomfortable on long trips unless you have a very luxurious car.  I believe there is an opportunity to make comfortable, stylish, and plush seat covers to make cars comfortable on long trips.
Who: People who drive cars on long trips but cannot afford a luxurious car.
The what: They are uncomfortable sitting in the seat for over 2-3 hours.
The why: Seats in average cars are not very plush and make your butt sore on long trips.

Interview #1: My mom:
Testing the who: Do you ever drive on trips over 2-3 hours?  On these trips, do you get uncomfortable in your car?
Yes, and on trips over about an hour and a half, I do start to get uncomfortable, mainly in my knees, bottom, and lower back.

Testing the what: After how long of time driving do you begin to feel uncomfortable in the car? 
About an hour and a half.

Testing the why: Have you ever been in a car that did not become uncomfortable on a long journey?  Do you have any preexisting condition that makes long journeys in a car uncomfortable?
In my dad's old Buick, I don't remember getting uncomfortable, but that was a long time ago so I'm not sure.  I do have chronic back pain, which makes it hard to travel in a car or even a plane for more than a couple of hours.

Interview #2: My dad:
Testing the who: Do you ever drive on trips over 2-3 hours?  On these trips, do you get uncomfortable in your car?
I drive an hour and a half to work every day, but I only drive on trips over two hours a few times a month.  I am usually fine unless I'm on a really long journey, like out of state.

Testing the what: After how long of time driving do you begin to feel uncomfortable in the car? 
After 4-5 hours I would say.

Testing the why: Have you ever been in a car that did not become uncomfortable on a long journey?  Do you have any preexisting condition that makes long journeys in a car uncomfortable?
The Acura TL I used to have was great, and my dad's station wagon when we were kids was a lot of fun to ride in.  I don't have any preexisting conditions, except being an "old fat piece of crap" (this is verbatim what he said, haha).

Interview #3: My little sister, Julianna:
Testing the who: Do you ever drive on trips over 2-3 hours?  On these trips, do you get uncomfortable in your car?
I rarely ever drive that long because I get nervous.  Not really, I just get tired.

Testing the what: After how long of time driving do you begin to feel uncomfortable in the car? 
I don't know, I guess after six hours maybe?  On our trip to Chicago, I did get pretty sore.

Testing the why: Have you ever been in a car that did not become uncomfortable on a long journey?  Do you have any preexisting condition that makes long journeys in a car uncomfortable?
I mean I don't think the cars we have are uncomfortable, and sometimes I get neck pain, but that happens even when I'm not in a car.

Interview #4: My friend, Bryce:
Testing the who: Do you ever drive on trips over 2-3 hours?  On these trips, do you get uncomfortable in your car?
I drive home from Orlando a lot, which is like 2 and a half hours, but I rarely go further than that.  I've gone to Cleveland a few times and on those trips, my butt got super sore.

Testing the what: After how long of time driving do you begin to feel uncomfortable in the car?
Probably after like 4 hours, I don't really know.

Testing the why: Have you ever been in a car that did not become uncomfortable on a long journey?  Do you have any preexisting condition that makes long journeys in a car uncomfortable?
No, if it's more than like 4 or 5 hours I usually need to take a break to get out and stretch or something.  My legs sometimes cramp-up, but that's it.

Interview #5: My friend, Kenna:
Testing the who: Do you ever drive on trips over 2-3 hours?  On these trips, do you get uncomfortable in your car?
Whenever I go home to Miami, it's such a long drive and I get super uncomfortable!

Testing the what: After how long of time driving do you begin to feel uncomfortable in the car?
Like after I pass Orlando I start to get sore, so maybe like two hours.

Testing the why: Have you ever been in a car that did not become uncomfortable on a long journey?  Do you have any preexisting condition that makes long journeys in a car uncomfortable?
No, I always get sore on long drives and I've never been in a fancy car where I wasn't.  I don't think I have any conditions but I just get sore really easily.

After interviewing everyone, I found that everyone I interviewed eventually felt sore/uncomfortable given a long enough journey.  As for how long of a journey it took for someone to feel uncomfortable in the car, I found that the duration varied from about 2-4 hours.  The only cars where people claimed not to feel uncomfortable were old family cars from when my mom and dad were young, and the Acura TL my dad used to have.  I learned that age and preexisting conditions may not have as dramatic of an effect on being uncomfortable in a car as I initially thought, as my friend, Kenna, who is young and has no conditions, gets uncomfortable in the car very easily.

Identifying opportunities in economic and regulatory trends

Opportunity #1 (Economic Trend): Baby boomers aren't retiring.

Source: I found this opportunity while searching for economic trends on the following website: https://www.thebalance.com/top-usa-future-economic-trends-3305666
Due to the recession of 2008, many baby boomers are unable to retire, and some who can afford to still continue to work because of the economic uncertainty they feel.  I think that an opportunity exists to help baby boomers afford retirement and create a plan for retirement that they can feel comfortable with, even during times of economic uncertainty.  This is because I believe that most of those boomers desire to retire and relax like their parents did, but they just aren't sure if it is feasible in the current economic climate.  The prototypical customer is anyone aged 60-80 who is still in the labor force and has enough money to support themselves for at least 5 years without working.  I think the opportunity is relatively difficult to exploit because there are already large and credible firms, like Fidelity and Prudential, who help people with their retirement.

I saw this opportunity personally with some of the boomers I know, like my Uncle Dave and my former boss, Peter, who continue to work despite having enough resources to retire.  I think they feel the need to be active and productive, so they would need a retirement plan that includes ways to make them feel like they are still growing as people and contributing to society.

Opportunity #2 (Economic Trend): Interest Rates have leveled off, so the cost of loans has stabilized and savers are earning more on their deposits.
Source: I found this opportunity while searching for economic trends on the following website: https://www.thebalance.com/top-usa-future-economic-trends-3305666

I believe this information suggests that many opportunities exist since this trend means that less risk is involved in taking out loans and making investments.  So people are more likely to finance a new car, take out a mortgage on a new home, and make investments.  One opportunity that I can think of as a result of this is offering people the opportunity to invest in alternative assets, like fine watches and collector cars.  I think the prototypical customer is anyone currently employed between the ages of  25 and 70 making at least $50K a year, who wants to make investments but isn't interested in stocks.  I think this opportunity is relatively difficult to exploit because of the difficulty of setting up such an investing platform, like insuring the investments, being licensed to offer them, and earning the trust of potential customers being a new, unproven company.

I saw this opportunity personally because I myself am interested in investing with shares in collector cars because they are an interesting asset class that I know a lot about, but I cannot afford to actually buy and maintain one.

Opportunity #3 (Regulatory change): Economic Growth, Regulatory Relief, and Consumer Protection Act
Source: I found this opportunity while searching for regulatory changes on the following website: https://www.wavestone.com/en/insight/regulatory-changes-regional-banks/

This regulatory change was the biggest rollback of bank rules since the financial crisis, and it is particularly helpful to smaller banks, who gain more freedoms than larger institutions based on the value of their assets, with banks having a lower value of total assets having fewer regulations applied to them.  Banks with fewer than 10 billion in assets are no longer prohibited from proprietary trading, which means they can trade with their own money to make a profit.  There is, therefore, an opportunity to create a trading platform for banks that fit into this category so they can trade with each other.  The prototypical customer would be the branch managers of banks with less than $10 billion in assets.  I think this is a relatively difficult opportunity to exploit because of the legal difficulties of creating a trading platform and gaining the trust of a financial institution like a bank.

I saw this opportunity because I think the deregulation of banks after the recession is interesting, as the government is trying to find the balance between promoting the growth of banks while also protecting consumers to avoid the economic issues of the 2008 recession.  A platform meant just for banks to trade on makes sense to me because the risk and volatility of the investments would likely be lower than traditional trading platforms.

Opportunity #4 (Regulatory change): Changes to the landscape fertilizer regulations prohibit the use of fertilizers with nitrogen from July through February and require that fertilizers containing nitrogen contain no less than 50% slow-release nitrogen. New regulations also prohibit phosphorus unless a deficiency is verified.
Source: I found this opportunity while searching for regulatory changes in Alachua County on the following website: https://alachuacounty.us/news/article/pages/Changes-to-Landscape-Fertilizer-and-Irrigation-Regulations-within-Alachua-County.aspx

I think this information suggests that there is an opportunity to create an eco-friendly fertilizer that does not contain the nitrogen compounds which are now prohibited from July-February.  I think the prototypical customers are farmers, landscapers, and anyone who needs fertilizer to maintain a lush yard.  I think that this opportunity is relatively easy to exploit because an eco-friendly fertilizer would not require extensive processing or manufacturing to produce, and could start as a small, local business.

I saw this opportunity because one of my good friends owns a small landscaping business, and when I told him about it, he said that he didn't even realize this change had come into effect.