Testing the Hypothesis, Part 1

1)    There is a need for an app that aids in the process of repairing/replacing broken home appliances. Additionally, with COVID-19 being such a huge issue, virtual repairs could be very helpful.

2)    Homeowners in the Palm Beach County area are unsure whether to repair or replace broken home appliances, as well as struggle to find the right person for the job. This is mostly due to the lack of knowledge and support system available to people’s appliance issues.

Who: Homeowners with broken appliances (specifically in Palm Beach County). 

What: They are unsure whether to repair or replace items, as well as lack the right people to help.

Why: Lack of knowledge and support system available.

3)    Testing the who:

Are there others who have this need? Or, does everyone in your current 'who' share the need?

 

Yes, this problem can be seen worldwide, with it being a more prominent issue in less developed countries. That being said, through the local newspaper of Palm Beach Post, I identified that this opportunity exists specifically in this area. After talking with five prototypical customers, I can conclude that this problem is present, but that it is not specific to just Palm Beach. One person I interviewed lives in Georgia, and he said that this is definitely a prevalent issue. A senior living in Boca Raton stated that with the way the world is today, they wouldn’t feel comfortable letting a stranger in her home, and that they would much prefer doing a virtual repair.

 

Testing the what:

Boundaries of the need- Is this a problem that consistently arises throughout the year? Is this more of an issue now, because of COVID-19, or was it always a problem?

Four of the five people I interviewed stated that they have issues with their appliances around twice a year, so this is not an ongoing problem, but rather a slight inconvenience that occurs once in a blue moon. They agree that due to the pandemic, it will be much more useful as they will be able to get the help they need virtually. A business owner who works in real estate said that he has a very thorough understanding of when things need to be replaced, as well as a full-time crew available to work, so that for him this is not a problem. That being said, he said that this app could be very useful because in his line of work, he can confirm that a large majority of people do not know much about correctly dealing with appliances or broken parts.

 

Testing the why:

Why does this problem exist?

#1- Due to the fear of getting COVID-19, “I would much prefer to do repairs myself than to have someone come and do it. The only problem is I do not know how to fix it, or if I have to replace it” (Senior living in Boca Raton). The other person I interviewed was also a senior living in the Palm Beach County area, and she shared a very similar response.

#2- Misinformation or lack of experience. “People just do not know enough about their appliances to make the right decisions” (Business Owner in Real Estate). A father of two that used to live in Boca Raton but now lives in Georgia shared a similar response to this.

#3- “Not knowing who to call. I just moved to south Florida, so I find myself pretty alone when it comes to these issues. Having an app that helps me find the right people to help would be amazing” (New Neighbor).

 

4)    After conducting five different interviews, I can conclude that there is a need out there for this sort of thing. I learned that because of Covid-19 people are actually more likely to use this service, simply due to the fact that they do not want to bring strangers into their home. It also confirmed my hypothesis that this issue arises because people do not know enough about their appliances’ life spans, meaning that there is an opportunity for someone to create a support system that helps those who feel unsure. I also realized how crucial this could be to those who just moved to a new location and are in need of reliable handywork. It seems that this problem is not only happening in Palm Beach County, but in other parts of the country.

Identifying Opportunities in Economic & Regulatory Trends

1)    Due to economic factors, the markets have gone down significantly from previous highs. This presents an opportunity for people to start investing in the stock market. The only problem is 45% of Americans are not invested in the markets (Gallup) due to lack of knowledge on the matter.

a)     https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx

b)    This information leads me to believe that there is a large percentage of Americans who are in need of financial advising.

c)     The prototypical customer would be the group of people in the 45% of Americans not invested in the stock market, that are interested in starting to buy stocks, but do not know where to begin.

d)    I believe that this opportunity is moderately difficult to exploit simply because due to the current economic issues, many are skeptical about the future of the US economy so convincing people to get into the markets could be difficult. That being said, if they would have entered at the bottom of the drop, they would have reaped close to a 35% return.

e)     I saw this opportunity because I have been invested in the stock market ever since I was 8 years old. I track it on a daily basis, allowing me to know when an opportunity presents itself. Additionally, through my experiences talking to people about this matter, many do not know anything about investing, want to learn, but do not know how.

2)    Due to new regulatory changes in FDA approval, food manufacturers can now change ingredients without disclosing the change, as well as omit calorie information. This is causing unrest among “some consumers and advocates, including the food-allergy organization and news site SnackSafely” (Zhang).

a)     https://www.eater.com/2020/5/27/21271897/fda-temporarily-allows-minor-nondisclosed-ingredient-label-changes-on-food

b)    This leads me to believe that there will be a need for a natural snack that has authentic and visible ingredients available to customers, with a form of verification that what they state is true.

c)     The prototypical customer will be those with food allergies, or those who really need to make sure they know what they are putting in their body. Any organization that is weary about this new regulation, may be interested in this product.

d)    I believe that if a form of verification can be portrayed in order to build the trust of consumers, then it will be relatively easy to exploit.

e)     I saw this opportunity because as an avid weightlifter, I am super careful about what I eat, so I know how important it is that the packaging states everything in the product, including calorie count and ingredients.

3)    Gyms have been forced to shut down the past couple months due to the COVID-19, leaving many without their daily exercise routine.

a)     https://www.architecturaldigest.com/story/these-are-the-7-features-clients-will-be-requesting-post-covid-19

b)    This is a clear sign that there has been and will continue to be a huge demand for home equipment that is easily accessible and practical for people with small spaces.

c)     The prototypical customer will be those that used to workout at a gym, but no longer have access because of regulatory changes. Once gyms begin to open up, the type of customer that will remain loyal will be those that are at most risk of getting infected (older individuals, or those with previous health issues).

d)    This will be easy to exploit because as it said in the article, there has been a huge increase in demand for stationary bikes, which means people are wanting and looking to stay active.

e)     This was an opportunity that was really easy to identify because my friends and I are all daily gym-goers, and ever since the gyms closed, we have been looking for alternatives to working out at home.

4)    The unemployment rate has reached Great Depression levels.

a)     https://www.usatoday.com/story/money/2020/05/27/initial-jobless-claims-preview-economists-predict-up-2-4-million/5259264002/

b)    This creates a huge demand for ways to make more income at home. Since millions are losing their jobs, many due to the closing of restaurants and shops, there is an opportunity to help develop ways to transition jobs online, as well as helping people get their jobs back quicker.

c)     The prototypical customer is someone who lost their job and is on the hunt for other streams of income.

d)    This will be somewhat hard to exploit because those without a job won’t have much disposable income to spare and they may also be too afraid to trust a new program. That being said, it is still a huge opportunity to help the lives of millions.

e)     I saw this opportunity because I have many friends and family who have lost their main source of income, and they always tell me that they are looking for new ways to make money online. I think a program that helps them on that process could be very beneficial.

Identifying Local Opportunities

#1- 

1)    Title: Crowds Swarm Palm Beach County Beaches; Barriers Respected in Still-closed Broward

2)    https://www.sun-sentinel.com/local/palm-beach/fl-ne-palm-beaches-open-20200523-z3ca2tl6kfcr5ovk45dhvlvqpa-story.html

3)    Description: This article covers the opening of Palm Beach County beaches and the lack of care people are taking to stop the spread of COVID-19.

4)    Problem: Almost no one was wearing masks, and there was a serious lack of social distancing. This can have serious repercussions to the economy and health of the people if individuals are not careful.

5)    Who: The beach and restaurant attendees.

#2-  

1)    Title: Point-in-Time Count Sees PBC’s Homeless Population Growing

2)    https://www.palmbeachpost.com/news/20200522/point-in-time-count-sees-pbcs-homeless-population-growing

3)    Description: There has been in increase of 8% in the amount of homeless people in the county, especially due to seniors.

4)    Problem: This can be contributed to economic issues going on because of Coronavirus as well as the lack of affordable living available & the decrease in retail jobs. There should be more alternatives for making money as well as cheaper forms of shelter.

5)    Who: Seniors being affected by job loss and expensive housing.

#3-

1)    Title: A Very Different King of Graduation Season is Underway in Palm Beach County

2)    https://www.bocaratontribune.com/bocaratonnews/2020/05/a-very-different-kind-of-graduation-season-is-underway-in-palm-beach-county/

3)    Description: Seniors are experiencing a cancellation of all of their main school events, and it is causing the disappointment of thousands of students.

4)    Problem: Thousands are being left disappointed because they are not getting the graduation they deserve. Additionally, they are not able to experience prom nor senior field trips. This opens up huge opportunities to create something that satisfies those desires in a safe way.

5)    Who: Seniors in the class of 2020 affected by the cancelling of school events.

#4- 

1)    Title: Coronavirus Florida: Face it: ‘Maskne’ is a real thing

2)    https://www.palmbeachpost.com/lifestyle/20200526/coronavirus-florida-face-it-maskne-is-real-thing

3)    Description: Due to the large increase in mask-wearing, people have been experiencing more acne and irritation in the skin.

4)    Problem: Those wearing masks for extended periods of time are at risk to having skin irritations as well as acne. This is an opportunity to create more skin friendly masks that can help those experiencing this issue.

5)    Who: Medical professionals or anyone wearing a mask for extended periods of time.

#5- 

1)    Title: Marni Jameson: Experts answer age-old question: Repair or replace broken home appliances?

2)    https://www.palmbeachpost.com/news/20200522/marni-jameson-experts-answer-age-old-question-repair-or-replace-broken-home-appliances

3)    Description: A couple is caught asking themselves whether appliances are worth fixing, or if it is best to just replace them. After talking to someone with experience on the matter, they were able to figure out the typical life of your typical home appliances which could help in deciding what to do.

4)    Problem: Many are left pondering as to who to call to repair a broken appliance, and whether it is best to just replace them. This can be an opportunity to create an app that helps homeowners decide what to do, and then help them in whatever they choose. For example: after submitting a photo, professionals decide that it can be easily fixed. Then, all through the app, they schedule for someone to come fix it for an affordable price.

5)    Who: Homeowners who lack the knowledge on what to do with broken appliances.

Opportunity Belief

Belief: There is a need for a program that would guide on the process of utilizing your current skills to make money online, or even allow you to learn new ways of bringing income.

Description: I believe that because of coronavirus, people in the hospitality/entertainment industry are in serious need of additional income/side jobs. This need has been starting to appear more and more as brick and mortars shut down, and online commerce begins to take over. That being said, due to the recent pandemic, this need has grown exponentially. There are many in need of extra income as their jobs are being negatively impacted by the closings. People in the entertainment industry have resorted to doing their specialties online, for example teaching on zoom, but are finding it difficult to get started. It is something completely new for most, causing them to feel intimidated or lost. I am 80% sure this opportunity exists.

 

Prototypical Customer 1: Professional Singer at a nightclub

 

What is the exact nature of the need?

“I used to have a fixed salary coming in, as I would perform on weekends and rehearse on weekdays. I relied on that to pay my bills, so I am in need of a way to make more money in the current circumstances.”

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?

“I would say that this need is more present because of what is going on in the world. That being said, in the past I have experienced gaps where I was between gigs and did not have a steady source of income.”

How long have they had the need? When did they first become aware of their need? Why? “I became aware as soon as my place of work was forced to close, and my services were no longer required. I have had this problem throughout my career at different times, but it is a more pressing issue now.”

How are they currently addressing their need? How satisfied are they with this solution?

“I have been trying to do performances through Instagram Live, having a company sponsor me. I think a program that would help guide me through the process of transitioning online would be great. I still struggle at times to come up with ways to make more money using my skills on an online platform. I am also open to learning new things that could make me extra money. The only thing I would say is you would have to find a way to make this service very affordable as times are tough.”

 

 

Prototypical Customer 2: College Student + Front Desk Agent at Hilton

 

What is the exact nature of the need?

He is a student with bills to pay so this has made an impact on his life. He has been looking for a way to fill the gap due to the large reduction of hours he is working.

 

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?

“I’m always looking for ways to make more money, but I would say I did not really have this need until corona.”

How long have they had the need? When did they first become aware of their need? Why?

“It really started to hit during mid-April. I realized I no longer would have the same flexibility as before and would need to cut back on expenses.”

How are they currently addressing their need? How satisfied are they with this solution?

“Honestly, I haven’t been doing much. I have been watching some YouTube videos on stock trading, so I may give that a shot. I think a program that could help me learn something new that makes money could be cool. I just don’t think I would pay for it. Especially now where everything seems to be on YouTube, the program must offer something very special that differentiates itself from what is already online.”

 

Prototypical Customer 3: Store Manager for Purdy’s Chocolatier

What is the exact nature of the need?

“I am a mother of two and have been struggling to pay the bills due to the closing of Purdy’s. If it weren’t for the government help and the few online jobs I have picked up, I don’t know what I would do.”

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?

“I have always been a little short on the money so I would say I have had this need for a long time now. It just got significantly worse because of the pandemic.”

How long have they had the need? When did they first become aware of their need? Why?

“Once it got declared a pandemic, I knew things were going to get bad.”

How are they currently addressing their need? How satisfied are they with this solution?

She has picked up some online jobs using her skills, as well as with the government aid. She said that this idea is great as it is what she has done to stay somewhat afloat. “I am a huge proponent of transferring your skills to online platforms, as it is what I have tried to do for many years now. I could always use more side jobs and a program that helps me do that would be very helpful.”

 

Reflection:

I learned that there are many people struggling to pay their bills because of this pandemic, and that they are willing to put in the work to make ends meet. I also realized that a different strategy (ads/sponsorships) would have to be used in order to make this service either very cheap or free to its users. It seems many are feeling a bit lost, so they would greatly benefit from a service like this.

 

Summary:

 

Overall, there is definitely an opportunity out there for this kind of service. That being said, it would have to be done in a way so that it is affordable for its users, and also stands out in comparison to other platforms already out there (YouTube, Udemy, etc.). I believe that reaching out to potential customers was critical to understanding the needs out there and what people are feeling. This new opportunity is definitely more accurate because it allowed me to scope into more detailed issues & potential solutions. Entrepreneurs should definitely take what customers are saying into strong consideration because they are the ones who will ultimately decide whether they use the service or not.

 

 

My Entrepreneurship Story

    

     In 2015, I was selected to participate in Young Entrepreneurs Academy, a one-year course that takes your ideas and helps you develop a business plan to then present to a panel of investors. The classes were managed and taught by four different self-made entrepreneurs who were very successful themselves, and it also included trips to local business to better understand the factors of operation. I came up with an application to teach kids about a variety of careers, to better equip them to choose their desired professional path. When it came time for the class to vote on which ideas would stay, only two students voted for mine; how discouraging! I then joined a team to come up with a new idea. Again, I attempted to share my concern that young people should become more informed about their future profession and felt that a game would be the best way to do so. I continued to adjust the idea, pushing that we needed to mix these two factors: fun & informative. That is when we decided that if we created a board game, it would not only be better suited for kids, but it would also allow for a more hands-on approach to learning. After executing my revised approach with the team, the originally discarded idea became a board game called “Career Choice”. The effort paid off when we won 2nd place and a cash prize of over $1,000. 

     In addition to this experience, my parents were in the process of acquiring a business for a couple years, therefore exposing me to the processes that different business go through from start-up to a running place of work. I enrolled in this class because I have always been interested in the life of entrepreneurs, especially seeing where they came from and all they had to put in in order to reach success. I have watched countless hours of interviews where different entrepreneurs discuss their journeys, and they all had one thing in common, perseverance. I think this class will help further expand my knowledge on the process and journey of actually starting a business, something that I would like to do in the future.

Bug List

Bug list:

 

1)    When sitting at a red light on Jog, sometimes it seems very long and never ending. Then when it finally turns green, you can barely make it past the intersection without it turning red again. This can be quite frustrating because you end up wasting 5 minutes that could be critical when you are in a rush. 

-The bug exists simply because of the way traffic lights are hardwired, which means it can easily be fixed. The key would be to contact the local Department of Transportation, in order to let them know of the issue.

2)    When taking out the trash & recycling on Sundays, I find myself having to take multiple trips to put it out on the curb. 

-This bug exists because we only have two hands, so there is only so much a human can carry. The way to solve this could be by creating a cart to carry everything (including the recycling baskets), so all it takes is one trip to take everything out in the curb.

3)    When at an amusement park during the summer, it is always way too hot. Especially these types of trips that require a lot of walking outside. 

-This problem exists because there are not enough fans or mist machines in between attractions to help keep people hydrated and refreshed.

4)    Waiting in long lines at amusement parks like Disney and Universal is quite annoying. When analyzing a whole day at the parks, it seems you spend more than 85% of the time waiting in a line. 

-This bug exists because there are too many people trying to ride an attraction at once. While there are certain ways to speed up the wait-time, I feel there should be a more efficient way to get more people on attractions quicker.

5)    When getting out of a pool during windy seasons, it is always way too cold. The towel always seems to be super far away, and even if it is close, it doesn’t dry fast enough to not feel uncomfortable. 

-The bug exists usually because the towel doesn’t wrap your whole body, leaving parts exposed to the wind.

6)    When a bug gets into my house and I cannot seem to catch it. They fly around, giving me mosquito bites, and it really bugs me. 

-This exists because the door was left open and they were able to come in the house, as well as because I don’t have an easy way to attract the bugs to one spot to catch them.

7)    Not being able to fall asleep before a big day (for example an interview) the next day, no matter what I do. I twist around in bed for hours trying to get some sleep before the eventful day that follows me. 

-This happens because the mind tends to be very active when anxious or nervous, especially when there is a lot at stake.

8)    When buying meat/chicken and storing it in the fridge, the trays always leak, and I am left having to clean. 

-This exists because the wrapping paper they use is not effective at sealing the liquids in. 

9)    When I don’t finish my soda can, store it, and the gas is all gone after a few hours. 

-This exists because once a can is opened, it cannot be resealed, therefore allowing the gas to escape.

10) When people don’t respond to a message you know they read. 

-This exists because people sometimes can forget to respond back or are too lazy to.

11) When I am trying to watch a YouTube video after a long day of studying and the Wi-Fi stops working, so you are left staring at a buffering signal.

-This happens because the network is either overwhelmed or having connection issues.

12) It bugs me that right when I turn on my car, the AC starts to smell awful (almost like mold). 

-This occurs because old cars, especially in Florida, start to produce mildew due to changes in humidity, and they are hard to reach from inside the vents.

13) When the gardeners start cutting the grass way too early in the morning and they stay right by my room for half an hour even though there is not that much to cut in that area.

-This occurs because the start time for cutting the grass is very early and that side of my house is shaded. 

14) When going for a new personal record on the bench press and someone helps you lift it up even though you wanted to do it yourself. 

-This bug exists due to the lack of knowledge of when to properly spot someone.  

15) When I am in a rush to get to school and there is a super slow driver in front of me on a one-lane-street. 

-This exists because there are a lot of elderly people where I live, and they tend to drive slower (15 mph under the speed limit).

16) When my hair doesn’t go the way I want it to, and gel doesn’t work either. 

-This happens when you slept on your hair the wrong way and it forms a new direction.

17) When I am at the gym and my Bluetooth headphones disconnect randomly, getting in the way of my concentration during the workout. 

-This occurs because the headphones are quite old and tend to lose connection at times (could be wiring).

18) When I lose my wallet and have no idea where it is. 

-This occurs because there is no way to track it, as well as make it release a sound to aid in the search.

19) When I am looking for a movie to watch and I can’t seem to make a decision on which one to view. 

-This bug happens because there are so many options out there that it can become quite overwhelming when it comes down to choosing (potential solution: a picker that chooses a movie based on your answer to a few questions).

20) When I have the toon of a song in my head, but I can’t figure out the name of the song. 

-This occurs because finding a song without knowing the lyrics is quite difficult to do.

 

 

At first, I found it quite difficult to come up with things that bugged me. I know that I am very blessed and don’t like to complain about things. That being said, as I went through the assignment, I found it had begun to get easier to identify bugs that come up in my day to day life. I also wanted to mention that I see the value that doing this has because it instantly had me trying to come up with solutions to the problems I would write.

Blog Tester

This is just a test!