10A - Elevator Pitch No. 1

Sorry, I did not have my suit because I am out of town!

https://youtu.be/wbcYz77Cx8I

(please copy and paste the link)

Thanks!

9A - Testing the Hypothesis, Part 2

Finding 5 people without cars/this need was difficult at first because most of my close friends drive. However, I do not have a car so I related to this new interview group (my car got destroyed in the hurricane). I think the opportunity of not liking super hot/super cold temperatures is a general need of people, however, monetizing that need is the harder part. Because I do not have a car, I would not buy an automatic sunshade or use pre-timed air conditioning. However, upon further thought, I do have an airplane in which I would gladly buy one of these.

When interviewing 5 people without cars I found a couple of interesting things. 3 people in the group rode the bus, but complained about the temperatures on the bus. A thought popped up in my mind to do a special bus sunshade where it is still see through but is able to block out a lot of the sunshine that causes damage and heat in the bus. This could be a great product edition. One kid rode the bike to school and used little other transportation. My idea to this was to have a little fan that attaches to the petals and when you ride it rotates itself to cool off the rider. Upon further thought I think this would detract from the brand and may not be profitable. Lastly, one guy only walked places and said he doesn't think this brand would effect his life at all. I was able to find that the study room he uses on campus gets rather warm because there is a sun protector that doesn't really work. I could look into products for this.

• Inside the Boundary 
• Who is in: People with cars, willing to pay for luxury of cooler car and better maintained car. Furthermore, this could include airplanes, indoor places and busses (see above). 
• What the need is: The need is an automatic sunshade that will work on all windows when you lock your car to keep car cool and the sun from destroying car. Furthermore, a pre-timed air conditioning app will allow you to be more relaxed upon entering the car. 
• Why the need exits: The need exits because cars trap heat or cold weather, and extreme temperatures are uncomfortable for many people. 

• Outside the Boundary
• Who is not: People that only walk places, live in very temperate climates, don't mind the extreme temperatures or would not pay for such a service. 
• What the need is not: The need is not anywhere a sunshade or cooling device can be placed. For example, the bike fan idea is not a great idea because it is too insignificant. Also, the need is not for everyone with a car. Some cars are too old to worry about condition and some cars don't have air conditioning. The need is not for people who don't use any transportation (in the case of the walking kid), however, he may be using other places that could use better sunshades (automatic).
• Alternative explanations: I think there is room in the market for a high quality sunshade, whether that is in a car, airplane, bus or room. However, there are cases in which it is hard to monetize (the bus) because individuals would not pay for such a luxury in that case. I think alternative explanations are that some people may not need one or may not think it would impact their daily routine. 

8A - Solving the Problem

Opportunity recap: combating the hot and cold temperatures with respect to automobiles
Products: I view this as a multi-product line company, with the automatic sunshades as bread and butter

Automatic sunshades: this combats the main problem of heat and detioration of the car's condition. By having automatic sunshades on ALL windows, it will actually keep the car cool. Most people are too lazy for manual sunshades and could use this as a great alternative. The price range would be relatively expensive and high quality. I am thinking in the $200-500 range, maybe with different versions. There would be an aftermarket version and a new line version where we could partner with manufacturers. I am not an engineer so having the automatic sunshades work by pressing a button on your key may be a hard thing to solve.

Heating/Cooling App: I envision an app on your phone where your car can heat or cool itself before getting in. As you probably know, the car does not have to be turned on for these functions to work. One application would be getting out of work at 5PM everyday and having your car automatically heat or cool from 4:50PM to 5:00PM.

Icing solution: some type of liquid solution on the inside or outside of car to stop ice from gathering on the surface. Maybe a heated sunshade for cold conditions?

Heat solution: the paint tends to chip so maybe some type of gel you could apply around a car once a year to keep it from scratching and wearing down.

Open to any other ideas!!!!

7A - Testing the Hypothesis

1. The Opportunity
I am going to continue with my previous opportunity that cars are too hot or too cold and that makes people uncomfortable. The brutal heat in Florida makes the cars deteriorate faster and makes getting into the car an awful experience.

2. Defining the Opportunity
Who: People in America who deal with extremely hot or cold temperatures and own a car
What: The cars depreciate in value faster and people have to deal with heat/ice
Why: Mother Nature can bring all types of weather and many cars are not equipped to deal with this problem on a mass scale

3. Expanding the Opportunity
Who: Some people may live in a temperate state like North Carolina where is doesn't get TOO hot or TOO cold. Also, some people may not care about the condition of their cars or do not mind icing their cars. Another market could be in the aviation industry. I currently fly and deal with extremely hot cockpits. However, there is much more regulation there.
What: The heat can destroy the lining on your car and cause it to peel off. If there is moisture in the car it can even create mold and make you very sick. The ice on the windshields can deteriorate and scratch the windshield. Now that I think about it, the heat also destroys your paint. I could try to create a line of products to combat these issues.
Why: Maybe some people think that nothing can solve this problem or that it is not worth paying for. Some people are able to garage their cars or put car covers on them to combat this. For people that have their cars in the garage it may not even be useful.

4. Interviews
Who: I talked with 5 college age students, 3 male, 2 female, all owned a car
Overall, it seems like people relate to this problem, specifically with the heat in Florida. 3 of them have noticed that their own cars get deteriorated from the constant heat. One of them said he usually parks in a garage or covered area but still thinks it is hot. Most were concerned that the price would be too high or the product may not be worth it. This suggests that a strong marketing budget would be necessary. Only 1 out of 5 currently used a sunshade. Laziness was the number one reason, followed by the idea it didn't really do that much to help.

6A - Opportunities in Economic and Regulatory Trends

Economic Trend 1:

Rising interest rates are slowing housing starts. 

Source: WSJ

There might be more opportunity to rent apartments/houses as the price of actually owning a house goes up. As a real estate investor, you might shift your focus towards this mindset to make a better return. This could be anyone who invests in real estate full time or on the side, or is thinking about their own living situation. This might be hard to exploit if interest rates stay high in the longer term and you eventually want to own equity. I thought of this because I enjoy following the FED and the housing market. 

Economic Trend 2: 

Consumers are spending more and gaining more credit card debt than ever over the past 10 years.

Source: WSJ

There might be an opportunity to help consumers understand their aggregate debt load and how their payments could be effected in a rising and floating rate environment. Many consumers spend as times are good and rates are low, but get squeezed when payments rise and the going gets tough. Maybe banks could offer a platform to their customers to be better informed but it would likely need to be a third party. I think I thought of this because I read about high debt loads and get concerned for families that may be unable to pay for their rent. 

Regulatory Trend 1:

The new tax law says companies can only deduct 30% of EBITDA for interest deduction. 

Source: WSJ

This will impact private equity firms who use a lot of leverage to buy a company. With lower deductions, the company will have to pay more in taxes. There might be an opportunity to change the way society invests in private companies. Perhaps, instead of PE firms investing, we could also have individuals invest too. There could be a platform to help private companies raise money from the person with extra savings looking for some level of risk. This might be hard to exploit due to current regulations around private investors having to have a certain net worth. I thought of this idea because I like to read about Private Equity and think the investor environment could change going forward. 

Regulatory Trend 2: 

Facebook, Google and others mishandling private customer data.

Source: WSJ

An opportunity might exist to either help these big companies be smart with the customer data or to help customers protect themselves against data leakage. I think the second one is a viable business opportunity where a startup can help rewrite some legal terms instead of customers blindly excepting the contracts. It might be hard to implement because these big companies have a lot of money and a lot of lawyers. I think I saw this opportunity because I was invested in Facebook when the Cambridge scandal blew up the company in the short-term.  

Assignment 5A - Identifying Local Opportunities

Dixie Moon Café moves to new home in downtown Bonita Springs
https://www.naplesnews.com/story/news/local/communities/the-banner/2018/09/13/dixie-moon-cafe-moves-new-home-downtown-bonita-springs/1290541002/

Dixie Moon Café has been a landmark in Bonita Springs since 1920. It originally served as the grocery store, then was a gas station, had multiple restaurants and finally a café before closing down. The building was sitting on valuable property that was recently bought up by a developer. Because the city deemed it a historical landmark, the developer contributed $81,000 to help move it less than a mile away to a new location. The main problem was keeping the original building intact with termite damage and wood close to 100 years old. Now the city does not know what to do with this building after spending an additional $25,000+ to restore it. Many local cities probably have a problem with understanding how to maximize their historical buildings. A possible business idea could be to register/research historical sites in cities and find out what would provide the most benefit to society with the project. For example, this article mentioned making a nice park out of the building.

For bear-resistant trash cans in Collier County: FWC awards $45,000

https://www.naplesnews.com/story/news/local/2018/09/13/fwc-awards-45-000-collier-county-bear-resistant-trash-cans/1289817002/

There are about 4,300 black bears in Florida and they like to eat human trash which can endanger both parties. Collier County recently received a $45,000 allocation from a $500,000 state fund to develop/integrate bear-resistant trash cans. The trash cans have a clasp that humans can open, but that makes it difficult for bears to open. The program is currently in a testing process because trash removal trucks only have a 80% success rate with emptying the new can. The can is expected to cost $200-$270 and it is uncertain how the cans will be disbursed or for how much consumers will pay. This problem exists for anywhere there are humans and animals in the same environment, for trash cans and other areas pets like to go. A possible business would be to help the cities figure out these problems or to undercut the $200 price and go direct to consumer as a safety concern.


What workers do Southwest Florida's employers need the most? Not nurses. 

https://www.naplesnews.com/story/money/business/local/2018/09/12/southwest-floridas-labor-market-pretty-fluid-and-actually-working/1277490002/

There is a research study going on with 3 universities in southwest Florida that forecast the amount of job shortages in the top 10 occupations. Instead of healthcare being at the top of the list, it actually is off the list for the first time in Southwest Florida because there is no shortage of nurses. The top 3 occupation shortages are retail supervisors, retail salespersons and maintenance and repair workers. Many cities/states/countries probably experience an imbalance of the correct numbers of workers as trends change and people move.

Marco Island continues to seek increased ambulance service despite COPCN vote
https://www.naplesnews.com/story/news/2018/09/14/marco-island-seeks-discussion-county-second-ambulance/1277868002/

On Marco Island there is only 1 ambulance in the off season and 2 during the season. The article talks about a vote to increase service but the vote failed by a few percentage points. Perhaps, this is because there are younger people moving there that don’t see value in spending more tax money for this service. The article estimates the cost to tax payers is a little over $500,000 per year to have 1 ambulance. The problem is there is a disparity between who wants ambulance services and who should pay for them. This problem of payment is relevant for the whole healthcare space. I assume many cities have this problem because you want everyone to be safe without spending too much money.


Shortage of roof repair workers one year later after Irma 

https://www.naplesnews.com/story/weather/hurricanes/2018/09/08/hurricane-irma-one-year-later-shortage-workers-inspectors-supplies-hamper-roof-repairs/1151530002/

Hurricanes can devastate a community. One year after Irma, people in Southwest Florida are still waiting for roof repairs. They are calling it “Blue roof nation” after the blue tarps have been spread up as temporary repairs. The problem is that hurricanes cause immense destruction in a small area and that there are not enough skilled workers going into the trade jobs. I think we should encourage high schoolers to pursue trade skills and develop ways to help cities after disasters.

4A – Forming an Opportunity Belief

1) Beginning point: I believe there could be an opportunity to improve the unwary feeling of entering a hot vehicle.

2) Describe your belief: Living in Florida, I have always dealt with the unwary feeling of entering a hot car, proceeding to suffocate momentarily before finally getting the air conditioner to work. I feel that automatic sunshades around all car windows when you lock the car would help this problem. Also, an app that allows the car to circulate air for a few minutes before the owner enters the vehicle. This scenario could be reversed for a cold weather scenario. Anyone with a car in America would potentially have this need. This need has existed since the automobile came into fashion. While there is air conditioning and manual sunshades, there is still room for improvement. People are currently using store bought sunshades and window tint to help with this problem. I am about 50% sure this opportunity exists.

3) Identify the prototypical customer: A prototypical customer would be a 25-45 adult that values comfort and is willing to pay for a more comfortable environment when entering their vehicle. Furthermore, someone that values the condition of their car would want these installed.

4) Iteration No. 1: Do you hate getting into hot cars? YEAH Do you currently use a sunshade? OCCASIONALY Would you appreciate your car circulating air before you get in? YES Would you appreciate automatic sunshades? SURE I GUESS - IF NOT BULKY Do you think the heat destroys the condition of your car? YEAH

What do you think of a company that makes automatic sunshades and has an app that times your cars air conditioning? I LIKE THAT Would you pay for this comfort? WHEN I HAVE A JOB YEAH Do you think this is a good solution to the original problem? YEAH

5) Iteration No. 2: Do you hate getting into hot cars? IF IT IS A FABRIC CAR AND COLD BUILDING THEN I FIND IT NICE, BUT LEATHER YES Do you currently use a sunshade? NO Would you appreciate your car circulating air before you get in? YES Would you appreciate automatic sunshades? YES Do you think the heat destroys the condition of your car? YES

What do you think of a company that makes automatic sunshades and has an app that times your cars air conditioning? BE BOUJEE, BUT IT WOULD BE A PROBLEM TO COORDINATE WITH CAR MANUFACTURERS Would you pay for this comfort? YES Do you think this is a good solution to the original problem? YEAH Other suggestions? NO I THINK IT’S GOOD, EXTEND PRODUCT LINE, COME UP WITH A WAY TO GET RID OF ICE ON WINDSHIELDS

6) Iteration No. 3: Do you hate getting into hot cars? YES Do you currently use a sunshade? NO Would you appreciate your car circulating air before you get in? YES Would you appreciate automatic sunshades? YES Do you think the heat destroys the condition of your car? YES

What do you think of a company that makes automatic sunshades and has an app that times your cars air conditioning? SOUNDS EXPENSIVE Would you pay for this comfort? DEPENDS HOW MUCH, IF AFFORADABLE NO BRAINER, $200 IF IT WERE TO LAST Do you think this is a good solution to the original problem? YES Other suggestions? LOOK INTO PULL UP SHADES ON OTHER CARS BECAUSE CHEAPER WAY

7) Reflect. I learned that people do have this problem and overall think it is a good idea. I was surprised that people liked the automatic air more than automatic sunshade. Someone actually gave me idea to come up with warming liquid to get rid of ice on cars.

8) Summarize. I think the original opportunity is there, however, price and bulkiness are factors for the aftermarket. If I could get new cars for the product it would be very lucrative. I think it narrows down that problem and affirms the desire of an app where you could time the air conditioning of your car. I think entrepreneurs should balance feedback with their desires because the owner has to be happy but at the end of the day customers drive companies.