Testing the Hypothesis, Part 2

Testing the Hypothesis, Part 2

Before you read the upcoming summaries of the people I interviewed, it is necessary to define a few things:

·       Opportunity: College students (who live with at least one roommate) not collaborating on cleaning or maintaining the kitchen, living room, or any common area that is shared by all the roommates.

·       Boundaries of this opportunity: (1) a minimum of one roommate and a maximum of a combined six roommates for each interviewee, as to focus on more general and universal applications of this need; (2) only undergraduate students (majority of college students); (3) customers must have lived with at least one roommate for at least one month (for legitimacy).

As you can see, I redefined who exactly my customers will be going forward with this need. For this opportunity, it has been very challenging to find people who have never had issues at any point in time with their roommates. Therefore, I will be focusing on specific conflict resolutions they used (current or in the past) to discover who is outside the “boundary” of this need; how they attempted to resolve conflicts, if it worked, etc. Overall, I understand this opportunity is too broad and affects everyone in different ways, and thus there is no single root cause of this unmet customer need.

Note: If interviewees were not currently experiencing this need, they were allowed to reflect on a past experience.

Interviews:

Customer 1: Adriana Martinez, Nova Southeastern University, Junior

1. To what extent are you experiencing this problem? Is it a daily issue or does it only come up randomly?

I have a roommate that has a cat and I am allergic to cats, so this is a daily issue for me.

2. How exactly did you discuss the problem with your roommate(s)? Did you try multiple approaches, assuming the other ones failed?

Well at first when we first moved in I told her about my allergies and she agreed to keep the cat in her room. But as she got more comfortable the cat would start coming into the living room area. So I blew up one day and told her how she had to be cleaning and vacuuming more if the cat was going to be outside because of my allergies. So this was probably the second time I told her. 

3. When you eventually made it work among your roommates, or at least partially, what do you think you did differently that helped resolve the conflict(s)?

Well I think definitely approaching her that second time and telling how it was highly affecting me was what partially resolved the issue. 

4. Do you think the approach you used would work for other students living with roommates?

I don’t think randomly blowing up on your roommate is a good idea but I think strictly enforcing it from the beginning would’ve caused less problems. 

5. Would you have used this same approach if you were living with family members?

Yes I would have because of how comfortable I am with my family members. But if it were a family member I’d be living with I wouldn’t have let them bring a cat at all. 

6. What were the limitations of discussing this problem with your roommates? Were there some things you didn’t feel like putting out in the open? Why?

Well my roommate is from Virginia and she doesn’t know anyone here, so that’s why I let her initially bring the cat. I understand that pets are friends and they may help when one is lonely. I wasn’t as strict with the idea at first mostly because I just felt bad for her. 

7. Were you ever approached by other roommates for similar issues? How did you handle that?

Not necessarily, I’ve just been told to clean up my stuff or change the toilet paper. I handled it fine just did what they told me to. 

8. Looking back, what do you think was most effective to get your roommate(s) to adhere to your requests?

I think it was enforcing her to clean up and vacuum more especially since I get really bad allergies. I showed her how I had to drink a pill everyday because of how bad my eyes would be swelling everyday. So I think it was showing her my condition and how badly it affected me that actually made her clean up more. 

Summary: Adriana’s situation is intriguing because, unlike all the others, the problem with her roommate does not relate to the kitchen area or living room but rather is animal related. For all of these interviews, I have focused on common area living spaces though never considered the presence of animals, which cannot be handled in the same manner as the kitchen, per say. After reading her responses, I realized this type of scenario must also be compensated for on top of dispute in common areas of the living space.  

Customer 2: Juvensen Jules, University of South California, Junior

1. To what extent are you experiencing this problem? Is it a daily issue or does it only come up randomly?

This a daily issue. My roommate refuses to clean up after himself in the kitchen and refuses to sweep the part of the house that belongs to him.

2. How exactly did you discuss the problem with your roommate(s)? Did you try multiple approaches, assuming the other ones failed?

I try to lead by example. I clean all my dishes and leave his in the sink but if it were up to him they would all still remain in the sink. Next I tried to talk to him about cleaning up after himself and it worked for a little bit but not too long after he returned to his old ways.

3. When you eventually made it work among your roommates, or at least partially, what do you think you did differently that helped resolve the conflict(s)?

I guess addressing him directly instead of leading by example.

4. Do you think the approach you used would work for other students living with roommates?

Yes.

5. Would you have used this same approach if you were living with family members?

Yes.

6. What were the limitations of discussing this problem with your roommates? Were there some things you didn’t feel like putting out in the open? Why?

Some limitations include conflict of schedule, we are not home together a lot of the time.

7. Were you ever approached by other roommates for similar issues? How did you handle that?

My roommate approached me about not putting my food away after cooking and I kindly reminded him about his faults.

8. Looking back, what do you think was most effective to get your roommate(s) to adhere to your requests?

Being honest and just talking to him l.

Summary: Once again, we see an example of a roommate that is out of the boundary, specifically Juvensen’s roommate. It does not come at a surprise reading Juvensen tried to lead by example and had it not work out as he planned. This appears to be a consistent issue where taking the highroad does not result in positive conflict resolution, though rather prolongs the problem further (as people who are inside the boundary tend to do so).

Customer 3: Zach, University of Central Florida, Senior

1. To what extent are you experiencing this problem? Is it a daily issue or does it only come up randomly?

Daily.

2. How exactly did you discuss the problem with your roommate(s)? Did you try multiple approaches, assuming the other ones failed?

I approached him when he was in his room, and told him how much I dislike a dirty kitchen when I come home from class.

3. When you eventually made it work among your roommates, or at least partially, what do you think you did differently that helped resolve the conflict(s)?

I just understood my roommate's point of view.

4. Do you think the approach you used would work for other students living with roommates?

Yes, communication is key in solving issues like this.

5. Would you have used this same approach if you were living with family members?

Yes, it doesn’t matter who it is.

6. What were the limitations of discussing this problem with your roommates? Were there some things you didn’t feel like putting out in the open? Why?

Not exactly, since I confronted him before I became frustrated, the issue was resolved quickly and no one became hostile.

7. Were you ever approached by other roommates for similar issues? How did you handle that?

No, I usually keep my area very clean.

8. Looking back, what do you think was most effective to get your roommate(s) to adhere to your requests?

Simply understanding that they are people too with hectic lives that can't always clean efficiently, so I just made sure that they would put in more of an effort.

Summary: Perhaps outside of the boundary is Zach’s example because of how effectively his approach worked. Although this approach may be more interrogative, sharing his problems with his roommate without remorse or a second thought can sometimes work. His ideology was to not let the problem linger on, which I have found from past interviews to be one of the root causes of this opportunity.

Customer 4: Chris Pena, University of North Carolina, Junior

1. To what extent are you experiencing this problem? Is it a daily issue or does it only come up randomly?

I’m a type of person that likes the house to always be squeaky clean. Starting week one, my roommate got in the habit of leaving the dirty plates in the kitchen and not washing them right away. That caused me a small level of frustration, so I ended up doing them. That scenario happened for the first three weeks.

2. How exactly did you discuss the problem with your roommate(s)? Did you try multiple approaches, assuming the other ones failed?

During week 3 I told him to help me clean the plates. I developed a system that would assure that we both took part in cleaning the plates. I washed the dishes and he dried them. Now I feel like we are both doing our part.

3. When you eventually made it work among your roommates, or at least partially, what do you think you did differently that helped resolve the conflict(s)?

I strategically found a way for him to help me without actually telling him “Yo man are you ever going to do dishes?” I just wanted to find a way to tell him without making him feel bad for not helping me before. So one day during week 3 when we were done with dinner I asked him to help me dry the plates and silverware.

4. Do you think the approach you used would work for other students living with roommates?

Yes, I would recommend other students to bring the point across without being too direct. But at the same time direct enough where their roommate sees the issue.

5. Would you have used this same approach if you were living with family members?

I believe I would use the same approach because it doesn’t make the person feel bad for not helping before.

6. What were the limitations of discussing this problem with your roommates? Were there some things you didn’t feel like putting out in the open? Why?

Yes, I didn’t tell him straight up that he was being lazy with the dishes and that he should start doing them. I held back in order to not cause him to feel bad.

7. Were you ever approached by other roommates for similar issues? How did you handle that?

I have only had one roommate and it is my current roommate. He has not approached me with any issues.

8. Looking back, what do you think was most effective to get your roommate(s) to adhere to your requests?

Making it seem like a teamwork activity instead of a command.

Summary: Chris likes to flirt with being direct but also respectful over how his roommate might feel when bringing up his habit of not cleaning his dishes. In theory, this is exactly what a solution to this opportunity may be conceived as, since he considered both parties involved when trying to settle the dispute. Furthermore, Chris also allowed the problem to linger for three weeks, and therefore falls inside the boundary.

Customer 5: Brian Rodriguez, Boston College, Junior  

1. To what extent are you experiencing this problem? Is it a daily issue or does it only come up randomly?

I’d say issues come up at least twice a month.

2. How exactly did you discuss the problem with your roommate(s)? Did you try multiple approaches, assuming the other ones failed?

At first, we all had the issue of not properly cleaning the kitchen because we were all preoccupied with other things and let it get out of hand. After that, we basically all pitch in at random times and help clean up, nothing formal.

3. When you eventually made it work among your roommates, or at least partially, what do you think you did differently that helped resolve the conflict(s)?

I believe we are cool enough with each other to not let it become a true issue because of how busy we all are.

4. Do you think the approach you used would work for other students living with roommates?

As long as your responsible enough to do your own part and communicate with your rommates, this approach will work.

5. Would you have used this same approach if you were living with family members?

Yes.

6. What were the limitations of discussing this problem with your roommates? Were there some things you didn’t feel like putting out in the open? Why?

Obviously you never want to be too direct with your roommates, who are ultimately my friends as well. For the most part, if dishes are just sitting in the sink for a while, that person eventually recognizes that they have to clean it up (same for me).

7. Were you ever approached by other roommates for similar issues? How did you handle that?

I’ve been approached a few times about leaving my dishes in the living room, but I never made a big deal out of it.

8. Looking back, what do you think was most effective to get your roommate(s) to adhere to your requests?

Communication and being close friends.

Summary: Because Brian was already friends with all his roommates, the problem of ill communication is not present. Moreover, Brian does not have to sit down and have an open discussion with his roommates because they all understand the responsibility of living with other people and the mutual respect that comes with being good friends. Therefore, Brian and all his roommates fall inside of the boundary – even if there one or two issues per month.

Inside the Boundary	Outside the Boundary
Who: roommates (undergraduate college students) who routinely maintain, clean, and respect common areas within a shared household. Whether or not they were raised to keep up with their messes, these roommates understand that other people should not be responsible for cleaning up after them. Moreover, these students will at least keep least minimally out of respect, to keep up with	Who: roommates (undergraduate college students) who do not routinely maintain, clean, and respect common areas within a shared household. People will not keep a common area clean for a multitude of factors that are practically beyond our control (differences in personalities, background, etc.).
What the need is: Having other roommates contributing to maintaining common areas, or in the very least, picking up after themselves.	What the need is not: Not worrying about cleaning up after themselves, assumes it will be cleaned somehow eventually.
Why the need exists: Opposing personalities, backgrounds, social beliefs, personal standards of living, allowing issues to linger, laziness, differing schedules, not knowing how to clean, disregarding other roommates requests.	Alternative explanations: Not realizing they left a mess, not caring about their mess, assuming it will be cleaned eventually, or simply taking advantage of other roommates because they know they will cave in and clean it.

Elevator Pitch, Part 1

Please use this link to watch the video:

https://www.youtube.com/watch?v=6xK5xsCr2II

Script:

            My company will create a one credit course that focuses on creating positive, healthy, and consistent living habits for college students that live with roommates. Of the fifteen students that we have interviewed at the University of Florida, only one never had an issue living with roommates. Therefore, we want to address the widespread challenge of roommates not collaborating to clean common areas of the living space – such as the kitchen and living room.

This course will be a win-win for students, as they receive applicable life skills and points towards their GPA. Too often we hear stories about roommates fighting over a sink full of dishes or dirty clothes left all over the apartment – and our one goal is to take away this unnecessary stress students experience.  

First, we will present this idea as a mandatory class for freshman, transfer, and study abroad students to appropriate University of Florida officials. After each of the two trial semesters, we will adjust the class based on its effectiveness and reviews written by the students and teachers.

After at least one year of proven success at the University of Florida, we plan to expand to other Florida institutions as a resource to facilitate peaceful living between students and their roommates. By granting students an understanding of the complexities of living with other people, universities may witness a decrease in on-campus housing violence and an increase in test scores across all majors.

Thank you!

Solving the Problem

8A – Solving The Problem

The opportunity: Roommates not collaborating on cleaning the house. Primarily, “common area” zones such as, but not limited to: the kitchen, living room, laundry room, pantry, etc. My customers are University of Florida students (any grade level) who are living with at least one roommate.

Product Idea:

Create an app that would gather your general schedule, ask personality/behavior questions to conceptualize the specific customer, and provide a work-and-reward system based on the roommate(s) contribution. It would be a challenging concept in theory, though the app would be a good resource for students because no one wants to put in more work than necessary. The downside with this idea is that roommates will start to go off track after about a month when schoolwork starts to get serious. To perhaps counteract this, the app can create a shared budget for common groceries such as paper towels, dish soap, etc.— but even then, no one can really force you to buy things against their will (because then it starts getting weird and only causes more tension). Further, the app would have to somehow be aware of when the kitchen is a mess, and what defines a mess? I am kind of stuck on the app idea because it can be interpreted in countless ways, though please share what you feel might work! Could there be a way to actually involve University of Florida too? 

Testing the Hypothesis, Part 1

Testing the Hypothesis, Part 1

1. Opportunity:

Roommates not collaborating on cleaning the house. primarily “common area” zones such as, but not limited to: the kitchen, living room, laundry room, pantry, etc.

2. State the Opportunity:

Who: University of Florida students (any grade level) who are living with at least one roommate.

What: Roommates not collaborating on cleaning the house, primarily “common area” zones such as, but not limited to: the kitchen, living room, laundry room, pantry, etc.

Why: This need exists because of the opposing personalities, background, schedules, and lack of communication between roommates. 

3. Testing the Hypothesis:

Customer 1: Mariela Hunt, Junior, University of Florida

1. Do you currently have, or have had this this need?

I have had this issue. Do not anymore!

2. If so, do you feel like your roommate also has this problem?

No, because my other roommates and I would always clean up.

3. From your experience, do you feel that relatively few or many students have this issue?

Yes, I think that people with roommates who clean up all of the time are really lucky!

4. To what extent do you have this problem, and if so, in what specific areas of the living space?

The kitchen, living room and washer/dryer. My roommate had a rotten banana in her backpack so she decided to put it in the washer without taking out the banana, so when I went to clean my clothes everything was a mess. I’ve also had maggots in the sink because my roommate left the dishes there, as well as moldy dishes in the sink. There were also stinky socks left in the living room, one time I stepped in honey trying to get to the sink. There are a lot of stories. Hair dye left in a plastic bowl that we usually use to eat. Etc.

5. Have you discussed this issue with your roommate(s)?

Yep!

6. If so, what was your general approach and were you satisfied with the results?

I would mention it and she would say that it was everyone else’s. So then I snapped one day and she stopped talking to me for a few weeks but the kitchen started to be really clean for about a month.

7. How or in what ways would you would improve your approach to resolve conflicts more peacefully and effectively?

I have no idea, get new roommates.

8. Why do you think this problem exists?

Some people are just used to being the way they are and when they say they are more clean, they hope that the other roommates will pick up more.

9. Do you think this problem can be fixed?

Brainwashing, I actually have no idea.

10. On a scale from 1-10, do you think this problem can eventually be fixed (1 being not at all, 10 being completely fixed)?

7 if you are lucky and have a reasonable human being as a roommate.

Summary: Before I sent out these questions for Mariela, I visited her apartment (along with other friends) and it was nice to see that her responses were valid. Her kitchen was well organized and clean, with only a few things laying around – not that it bothered me. Furthermore, I’m getting the feeling that the “customers” I interview are not completely honest with their answers, perhaps they don’t want me to label them as “dirty” or a slob. It was refreshing to witness roommates fully collaborating, and even cooking dinner as if it was no big deal!

Customer 2: Shalini Nair, Junior, University of Florida

1. Do you currently have, or have had this this need?

For the past two years, I have not had this need. However, my freshman year of college one of my roommates would leave food out, not wash her dishes, and never took out the trash.

2. If so, do you feel like your roommate also has this problem?

Currently, my roommates and I are all very clean and if we feel one of us should take out the trash or clean up the living room then we make it known and it gets done---I don’t feel that this is an issue for my other roommates.

3. From your experience, do you feel that relatively few or many students have this issue?

I definitely think lots of students have this issue. I know many people who have roommate stories related to them being messy or not pitching in to help keep the whole apartment clean, not just their respective room.

4. To what extent do you have this problem, and if so, in what specific areas of the living space?

Based on my prior roommate experience, the problem was relatively severe in that she would just let food pile up on her desk for days and the same would go for trash. To put it into perspective, this was a shared room dorm. Three people with one room and one bathroom. So essentially, all of our beds and desks were in the “common space”. Therefore her lack of cleanliness in her own section of the room affected our whole living space.

5. Have you discussed this issue with your roommate(s)?

In that situation, I did bring up the issue a few times with my roommate, but it was to no avail so eventually I decided to just stick it out until the lease ended.

6. If so, what was your general approach and were you satisfied with the results?

I always approached it very casually. When she would leave food out overnight, I would ask if she could put it in the fridge so that ants or other bugs wouldn’t find it. There were three of us in the room so as far as taking out the trash went, my third roommate and I just decided to split the responsibility since our requests were being ignored.

7. How or in what ways would you would improve your approach to resolve conflicts more peacefully and effectively?

I think I have a very rational approach when it comes to resolving roommate conflicts. I always make sure to look at it from all sides, even if their point of view doesn’t really make sense to me or I don’t agree with it. I always try to take into account that everyone is busy and sometimes that can affect collaboration on shared responsibilities. In general though I do come across as very direct even though I am not trying to be harsh---to me that is just the easiest way to make sure what I’m trying to say is easily understood and that can be misinterpreted sometimes.

8. Why do you think this problem exists?

In my past situation I think the situation arose simply because we had two extremely different living styles. She stayed in bed all day and all she ever did was eat and sleep. In contrast I was always out and about. To me, cleaning up was just another part of my day. I have always been used to having very clean surroundings. For her, the room being clean was not a priority.

9. Do you think this problem can be fixed?

I think this problem in general can be fixed if all roommates come to an understanding that the shared space means shared responsibility and keeping it clean should be common courtesy to those you are living with.

10. On a scale from 1-10, do you think this problem can eventually be fixed (1 being not at all, 10 being completely fixed)?

If I am basing this answer on my past experience, that situation was about a 4. There was nothing I could do to change the way that she was raised to live. As a roommate I could not force her to understand the courtesy that applies when sharing a singular room with two other people.

Summary: Here, Shalini shared a very tough scenario of trying to collaborate with two other roommates, in one room to say the least. Even through this, Shalini made sure to treat her roommates with respect and make the effort to peacefully resolve any issues that would come up. Her responses are very mature and exemplifies that if we can share the mentality of working together, perhaps these insignificant issues can dissipate.

Customer 3: Juan Marco, Junior, University of Florida  

1. Do you currently have, or have had this this need?

First experienced this my 2^nd year in college, living off campus and have continued to feel the need to establish an efficient manner to solve this issue.

2. If so, do you feel like your roommate also has this problem?

I would say 3 out of 7 roommates, including myself, deal with this problem, the others do not, because if they did this would not be a problem.

3. From your experience, do you feel that relatively few or many students have this issue?

I would say the majority of students deal with a similar situation at some point in their academic career.

4. To what extent do you have this problem, and if so, in what specific areas of the living space?

Personally, I am very organized myself so I understand I may stress the issue more than any other of my roommates, particularly in the kitchen and bathrooms. However as the semester progresses and intensifies, this becomes less of a priority and it bothers me less, yet still remaining an issue.

5. Have you discussed this issue with your roommate(s)?

Previously we’ve discussed and attempted to come up with ideas to force each other into doing our tasks to maintain an equal amount of work and lessen the total work.

6. If so, what was your general approach and were you satisfied with the results?

First time dealing with this issue was a complete failure, the unclean roommates failed and rejected to aid in cleaning, which led to tension between individual relationships.

7. How or in what ways would you would improve your approach to resolve conflicts more peacefully and effectively?

I believe the best way to deal with this issue is establishing a system early post move-in, and holding each other accountable.

8. Why do you think this problem exists?

Some individuals lack the discipline to be responsible, and unfortunately this may stem from the privilege of never having to clean up after themselves, or a laziness in character.

9. Do you think this problem can be fixed?

I believe so, although it is much more of a frustrating process for the roommate/s that is doing their part.

10. On a scale from 1-10, do you think this problem can eventually be fixed (1 being not at all, 10 being completely fixed)?

I would say between 3-5.

Summary: Perhaps what I’ve been waiting to hear the most, since it directly applies to situations with my roommates, is that even when you try to be the “bigger guy” it all ends up going nowhere, only causing more problems. I have noticed, from my experiences and the numerous people I have interviewed, that regardless of how a roommate tries to resolve an issue, there just isn’t enough patience wired within people to take recommendations or adhere to mannerly requests. Once again, Juan hints at the fact that the “clean” roommates always fall victim to creating the tension, when they’re only trying to alleviate unnecessary stress.

Customer 4: Glenn Camilo, Senior, University of Florida

1. Do you currently have, or have had this this need?

No.

2. If so, do you feel like your roommate also has this problem?

N/A

3. From your experience, do you feel that relatively few or many students have this issue?

I feel many have this issue.

4. To what extent do you have this problem, and if so, in what specific areas of the living space?

N/A

5. Have you discussed this issue with your roommate(s)?

N/A

6. If so, what was your general approach and were you satisfied with the results?

N/A

7. How or in what ways would you would improve your approach to resolve conflicts more peacefully and effectively?

Talking about how “we” can solve this issue rather than “them.”

8. Why do you think this problem exists?

Because people can naturally be inconsiderate if they weren’t raised to be clean.

9. Do you think this problem can be fixed?

Yes.

10. On a scale from 1-10, do you think this problem can eventually be fixed (1 being not at all, 10 being completely fixed)?

7.

Summary: There isn’t that much to write about, and that is okay because not every single UF student will have this issue (although it is more rare).

Customer 5: Chris Newell, Sophomore, University of Florida

1. Do you currently have, or have had this this need?

Yes.

2. If so, do you feel like your roommate also has this problem?

For sure, we have all approached each other at some point about issues we have had living together, I’d say almost every week.

3. From your experience, do you feel that relatively few or many students have this issue?

I’m positive that most people have experienced this problem, even if it was very minimal. People our age just generally do not care unless it is for their gain.

4. To what extent do you have this problem, and if so, in what specific areas of the living space?

It has never gotten to the point where we truly get angry, though practically all of our conflicts occur because of piled up sink, dirty floors, or just general messes in the living room.

5. Have you discussed this issue with your roommate(s)?

We never have one-on-one sessions like therapists would have with their clients, but when we do talk about it it’s more of a statement like “clean up your stuff dude.”

6. If so, what was your general approach and were you satisfied with the results?

In general, I would just state the obvious and not beat around the bush. Overall, I’d say that it works at least seventy percent of the time… so I guess I’m decently satisfied.

7. How or in what ways would you would improve your approach to resolve conflicts more peacefully and effectively?

Perhaps come at it from a more understanding manner, instead of just making demands that people generally overlook.

8. Why do you think this problem exists?

Lack of communication and allowing the problem to linger on without addressing it early.

9. Do you think this problem can be fixed?

Honestly, even when you think it’s fixed, people will naturally go back to their old ways. I would love to see it fixed but it’s more of a social dilemma because there’s too many personalities and backgrounds that naturally conflict with each other.

10. On a scale from 1-10, do you think this problem can eventually be fixed (1 being not at all, 10 being completely fixed)?

3.

Summary: Alex brought up a great point saying that when roommates try to talk about their issues, they resort to quick statements or blunt demands. Truthfully, I do this as well because sometimes I’m just not in the mood to be civil or go through time-consuming conflict resolution, especially if I have been at school all day and come home to the same mess. I appreciated Chris’ responses because he was very honest and didn’t hold back.

Identifying Opportunities in Economic & Regulatory Trends

1. Opportunity One: Regulatory Trend

Article from the Wall Street Journal: “Most Economists See Tariff Effects on U.S. Economy as Limited” by Harriet Torry

Date: Sept. 13, 2018

Link: https://www.wsj.com/articles/most-economists-see-tariff-effects-on-u-s-economy-as-limited-1536847200?mod=searchresults&page=1&pos=6

A. With all the talk over the newly imposed trade tariffs President Trump has been planning, the name of the article caught my eye as it is a regulatory trend that I would love to learn more about.

B. In this article, the author surveyed 50 business, financial and academic economists to share their opinion about tariffs impact on the U.S. economy; with the majority believing these tariffs have had minimal significance, an impact that is overall less than 1% of the U.S. GDP.  Some important insights include: nearly 70% of economists said there was a risk that economic growth would come in short of their forecasts in the next 12 months; the Trump administration is expected soon to impose tariffs on $200 billion of Chinese imports - on top of tariffs already in effect on $50 billion in goods from China. From these two separate findings, it is obvious that new and recent tariffs might be an opportunity to exploit or meet unmet customer needs.

C. The prototypical customer are all industries and respective markets across the world that are directly impacted by these tariffs, and the international policy makers signing them.

D. The opportunity is relatively nearly impossible to exploit in the big picture because there are too many players at hand around the world who will never be affected by my actions. Although, if you focus on local levels of opportunity, as in industries within state counties, then opportunity presents itself more efficiently.

E. I noticed this opportunity because I like to keep up to speed with regulatory trends that involve international economies. There are several layers to the problems or success involved with tariffs, and thus becomes easier to handle the smaller opportunities that may exist locally (such as education of tariffs within a community, or a service dedicated to help the affected companies).

2. Opportunity Two: Economic Trend

Article from the Wall Street Journal: “Global Oil Supply Hit a Record High in August as OPEC Ramps Up Production” by Christopher Alessi

Published: Sept. 13, 2018

Link: https://www.wsj.com/articles/opec-ramps-up-output-making-up-for-iranian-oil-lost-to-sanctions-1536825605?mod=searchresults&page=1&pos=7

A. Before reading the title, I would like to share that I have been watching many videos consisting on topics of electric vehicles and solar energy, and therefore this article felt like an opportunity for me to become updated on global crude oil.

B. This piece, similar to the last one about the impacts of U.S. tariffs, dropped many statistics regarding OPEC, the United States, Russia, and the Middle East. Four critical statistics write: (1) crude oil output in [OPEC] climbed in August by 420,000 barrels a day, to average 32.63 million barrels a day; (2) Iranian crude production fell month-on-month by 150,000 barrels a day in August; (3) U.S. decision [to back out of a 2015 nuclear agreement with Iran] helped bolster oil prices amid investor concerns about a supply deficit, with Brent crude temporarily breaching the $80 a barrel threshold for the first time in 3 ½ -years; (4) Russian output was steady at just over 11.2 million barrels a day last month, a 300,000 barrels a day increase on a year ago. Although these four statistics appear as a deluge of information, each one is an individual opportunity that can be further examined to find unmet customer needs in more specific, local sectors.

C. The prototypical customers include OPEC or companies involved in crude oil, oil manufacturers, transportation of products, gas stations, consumers who depend on gasoline, the automobile industry… in reality, there are countless prototypical customers for this opportunity.

D. The same scenario applies to this opportunity as I wrote in section 1D.

E. As I mentioned in section 2A, my recent interest in solar energy and electric cars was most likely the reason I saw an opportunity with crude oil. Crude oil is naturally in constant competition with solar energy companies and electric car innovation, and as long as this continues to be the case, the opportunity will still remain.

3. Opportunity Three: Regulatory Trend

Article from the Wall Street Journal: “The Volcker Rule Needs Transparency More Than ‘Simplification’” by Sheila C. Bair and Gaurav Vasisht

Published: Sept. 9, 2018

Link: https://www.wsj.com/articles/the-volcker-rule-needs-transparency-more-than-simplification-1536524547?mod=searchresults&page=1&pos=6

A. Honestly, nothing really led me into forming this opportunity - I started reading the article because the term “Volcker Rule” caught my attention and I went with it. Upon browsing through the first few paragraphs, I realized how significant the Volcker Rule is to monitor risks, spotting problematic trends, and preventing a recurrence of the 2008 mortgage crisis that shook the U.S. economy.

B. As described in the article, the Volcker Rule (2014) prohibits commercial banks from engaging in certain speculative trading activity, helping to reduce moral hazard and conflicts of interest between banks and their customers, while fostering stability in the financial system. The metrics found with use of this rule help policy makers “to gauge the rule’s effectiveness and monitor potential risks in the trading operations of the largest banks.” Implications of banks not releasing data connected to the Volcker Rule include: depriving the public of the most basic information on the rule’s impact, with regulatory authorities becoming unable to spot problematic trends in a timely fashion.  

C. The prototypical customers are investors, banks, hedge funds, policy makers, and American regulatory agencies such as the Federal Reserve, the Office of the Comptroller of the Currency, the FDIC, the SEC, and the Commodity Futures Trading Commission.

D. Perhaps I am choosing opportunities that are very broad in scale, but once again, my insight in section 1D applies here as well.

E. For this opportunity, I believe there are various subsets of opportunities because this problem involves financial valuation and advising companies (along with investors) that depend on public data, such as data collected by the Volcker Rule, to discover opportunities in the market to then make executive decisions.

4. Opportunity Four: Economic Trend

Article from the Wall Street Journal: “U.S. Cities Will Be Able to Compete for Funding From JPMorgan” by Emily Glazer

Published: Sept. 12, 2018

Link: https://www.wsj.com/articles/u-s-cities-will-be-able-to-compete-for-funding-from-jpmorgan-1536724860

A. Although not such a large-scale economic trend as the crude oil market, this trend is rather quirky, in the sense that American cities - not companies - will be competing to share $500 million. This initiative, named “AdvancingCities” is being funded by JPMorgan Chase & Co. with plans of accelerating economic growth in over 30 U.S. cities. This new funding for cities to grow their infrastructure and reach new economic heights is exactly the opportunity an entrepreneur would want to hear.

B. This initiative plans to focus on four philanthropic areas: job training, neighborhood revitalization, small-business growth and consumer financial health. With the mentality in place that governments cannot do it alone, JPMorgan is looking for “public-private partnerships in cities that have a lot of nonprofits and government entities, along with a commitment from the business community to work together.” In all, JPMorgan is providing the resources necessary for cities that showcase their desire for planning and economic development, a process that tends to be multi-layered and time consuming in nature. With the inflow of cash and potential of new business revitalizing cities, the opportunity to meet prior unmet customer needs in these cities is up for grabs.

C. The prototypical customers are city officials and planners, and entrepreneurs located in the city or traveling from another city to take advantage of this opportunity.

D. In comparison to the other three opportunities, I would say this is a much easier opportunity to exploit. Once JPMorgan Chase & Co. deems a certain city worthy of investment, city planners will look inward (existing businesses or opportunities that have been long overdue) to utilize this inflow of cash.

E. This opportunity can be seen a mile away, and city planners will be openly searching for new opportunities of investment - the entrepreneur must locate those unmet needs that city planners ultimately desire.