Friday, February 7, 2020

Identifying Opportunities in Economic & Regulatory Trends



Regulatory Change Related:

Opportunity 1
Regulatory change: Recognition of medical marijuana use, and / or legalization of recreational marijuana.
Considering these recent changes, the unmet need of a outdoor location, or hub device to collect marijuana air during use. Assisting to facilitate the use of marijuana discretely.  
Where Found:
The source of information that a need could exist was own experiences, and conjecture.
Why Belief an Opportunity Exists:
Many recreational users prefer anonymity. I believe medical users feel alike. Users prefer not to infringe on the air quality of others.
Who is Most Likely Customer:
The prototypical customer would be a professional person or someone with a preference for discretion. Someone who also would not like the associated use odor.
Opportunity Easy of Difficult to Exploit:
Opportunity does not appear to be too difficult to exploit. There is a necessary need, and the need will increase as the discomfort to others, specifically nonusers becomes more apparent.
Why did I see Opportunity:
Because of my direct experiences having friends and family who prefer recreational use, I have seen the discomfort when exposed to nonusers who could also include children. The need for discretion, all while not totally inconveniencing the user has led to this idea.

Opportunity 2
Regulatory change: Increased expansion of regulations surrounding sexual harassment training.
Considering these recent changes, the unmet need of training and policy updating for employees in order to safeguard against liability. Proposal of an employee app to train against sexual harassment.   
Where Found:
The source of information that a need or opportunity exists is that several states are working to increase laws to combat harassment considering the #MeToo movement.
Why Belief an Opportunity Exists:
Employers are looking to minimize exposure to risk and to create an atmosphere of safety in the workplace for employees.
Who is Most Likely Customer:
The prototypical customer is all employees in the workspace. The app would ‘push’ or constantly update employees to regulatory changes as they occur.
Opportunity Easy of Difficult to Exploit:
Opportunity may be difficult to exploit as differing companies may have differing paths forward on how to combat the potential exposure.
Why did I see Opportunity:
The opportunity appeared as one of potential as the problem from my perspective is continuing to increase. Getting in front of the issue as soon as possible would both limit the potential for liability, as well as remove the level of concern from potential victims, or classes who have traditionally been victimized.

Economic Change Related:

Opportunity 3
Economic Change: Baby Boomers are deciding not to retire. Changes based upon the recent economic downturn have forced many to continue to work.
Considering these recent changes, the unmet need of consulting services for those impacted is necessary opportunity.
Where Found:
The source of information that a need or opportunity exists is noted economic trending that indicated boomers are unable to retire at the time they anticipated.  
Why Belief an Opportunity Exists:
This change in economic condition was not forecasted. As such, many are unclear on how to forge forward. Without direction many will fail.
Who is Most Likely Customer:
The prototypical customer is a senior. Assistance would be given based upon potential paths forward given current economic conditions and the customers background.
Opportunity Easy of Difficult to Exploit:
Opportunity may be somewhat difficult to exploit as government agencies may want to have some level of oversight into involvement considering elders are considered a protected class.
Why did I see Opportunity:
The opportunity appeared as one of potential as the problem from my perspective as I have family members finding it difficult to maneuver life in light of their new normal. Competing with younger generations on jobs is proving difficult, and not having a strategy for long term success creates more than just a financial crises no assistance is provided.  

Opportunity 4
Economic Change: Reduction of consumers using traditional box stores and retailers.  
Considering these recent changes, the unmet need of consumers to touch and feel a product is diminishing. Box stores continue to close out the opportunities for showrooming.
Where Found:
The source of information that a need or opportunity exists is clear from hearing about various stores deciding to shutter their retail locations due to changes in demand.
Why Belief an Opportunity Exists:
While the change in demand is naturally occurring as e-commerce continues to grow, there is still an untapped need for the consumer to showroom.
Who is Most Likely Customer:
The prototypical customer is someone looking to purchase a high tier item.
Opportunity Easy of Difficult to Exploit:
Opportunity is difficult to exploit as the ability to monetize an option of maintaining a store simply to touch and feel a purchase option is nil.
Why did I see Opportunity:
I have had several circumstances where I have been in need of a high dollar item and did not see the benefit of purchasing online just to immediately be turned off to what I received. Had I had the opportunity to interface with the item firsthand, It would be a quicker more efficient purchase process.

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