Identifying Opportunities in Economic & Regulatory Trends
1. Cheap Housing Material that can Aid in Poverty (Economic)
In my experience interning as a project manager, I realized all the ins-and-outs of construction and how expensive it could get. If a recycled low cost material able to be used in the construction of low income housing I think it would be a huge benefit to people all over the world. The prototypical customer would include anybody without a home or people in run down neighborhoods that could be renovated with this new material. It would be difficult to implement due to having to work with material engineers to create a new substance and it get it approved but if successful then it would be easy to implement.
Growing up and traveling I was always exposed to poverty all over the world especially since my mother came from very humble beginnings. Always having an understanding of the world around us helps to have an image of the big picture and what is truly needed.
2. Platform for Connecting Companies with Contingent Labor (Economic)
Reading an article in the times about continued increase in free-lancing and contingent labor made me think about the creation of a platform that connects companies with freelancing professionals with specific sets of skills. An opportunity exists because this line of work is becoming the fastest growing due to companies not having to be liable for outsourcing these professionals. This would be easy to set up but difficult to implement worldwide because certain experience tiers would be needed to move forward and that takes time.
I believe I thought of this opportunity because my mom is a freelancer and watching her build her company from nothing shows what hard work can accomplish.
3. Tech innovation - Outsourcing and Exporting (Regulatory)
Technology has been a leading powerhouse in innovation for years so that isn’t anything new but what is new are applications like Amazon and Etsy that create these platforms intended to ease exporting. Outsourcing and fast delivery have taken over the market. There still remains opportunity to hit this market with something new and similar or better. I found this opportunity as I was reading an article about amazon in Forbes magazine. The prototypical customer is anyone willing to pay for ease and convenience of goods being delivered right to your door. For example, if I came up with a delivery coffee company then anyone willing to pay for the convenience of delivery is a prototypical customer. It would be difficult to exploit due to the level of service needed in order to make the business successful. It would take a lot of effort in the beginning and pay off in the end.
I believe I identified this opportunity because these types of small business all rely on timing, service, and marketing. It takes a lot of work and attention to detail to make it cool, fun and exciting.
4. LGBT Commercials/Advertising (Regulatory)
I came across this opportunity as I was watching a recently released Las Vegas commercial that starred to lesbian woman wanting to get married. I have been noticing an increased presence of race and sexuality in new movies and commercials so I was thinking that a whole new market is targeted when you involve everyone in society unlike in past years when they were persecuted for being different. The prototypical customer would be anyone that is LGBT or any sort of minority. The opportunity has always been difficult but I believe it is becoming more mainstream now and can be easily taken advantage of.
I believe I was able to identify this opportunity because I believe in equality of all people as long as they don’t intend to maliciously harm anyone. Most people that didn’t conform to normal societal standards were persecuted but it is a new world and we should develop with it.
In my experience interning as a project manager, I realized all the ins-and-outs of construction and how expensive it could get. If a recycled low cost material able to be used in the construction of low income housing I think it would be a huge benefit to people all over the world. The prototypical customer would include anybody without a home or people in run down neighborhoods that could be renovated with this new material. It would be difficult to implement due to having to work with material engineers to create a new substance and it get it approved but if successful then it would be easy to implement.
Growing up and traveling I was always exposed to poverty all over the world especially since my mother came from very humble beginnings. Always having an understanding of the world around us helps to have an image of the big picture and what is truly needed.
2. Platform for Connecting Companies with Contingent Labor (Economic)
Reading an article in the times about continued increase in free-lancing and contingent labor made me think about the creation of a platform that connects companies with freelancing professionals with specific sets of skills. An opportunity exists because this line of work is becoming the fastest growing due to companies not having to be liable for outsourcing these professionals. This would be easy to set up but difficult to implement worldwide because certain experience tiers would be needed to move forward and that takes time.
I believe I thought of this opportunity because my mom is a freelancer and watching her build her company from nothing shows what hard work can accomplish.
3. Tech innovation - Outsourcing and Exporting (Regulatory)
Technology has been a leading powerhouse in innovation for years so that isn’t anything new but what is new are applications like Amazon and Etsy that create these platforms intended to ease exporting. Outsourcing and fast delivery have taken over the market. There still remains opportunity to hit this market with something new and similar or better. I found this opportunity as I was reading an article about amazon in Forbes magazine. The prototypical customer is anyone willing to pay for ease and convenience of goods being delivered right to your door. For example, if I came up with a delivery coffee company then anyone willing to pay for the convenience of delivery is a prototypical customer. It would be difficult to exploit due to the level of service needed in order to make the business successful. It would take a lot of effort in the beginning and pay off in the end.
I believe I identified this opportunity because these types of small business all rely on timing, service, and marketing. It takes a lot of work and attention to detail to make it cool, fun and exciting.
4. LGBT Commercials/Advertising (Regulatory)
I came across this opportunity as I was watching a recently released Las Vegas commercial that starred to lesbian woman wanting to get married. I have been noticing an increased presence of race and sexuality in new movies and commercials so I was thinking that a whole new market is targeted when you involve everyone in society unlike in past years when they were persecuted for being different. The prototypical customer would be anyone that is LGBT or any sort of minority. The opportunity has always been difficult but I believe it is becoming more mainstream now and can be easily taken advantage of.
I believe I was able to identify this opportunity because I believe in equality of all people as long as they don’t intend to maliciously harm anyone. Most people that didn’t conform to normal societal standards were persecuted but it is a new world and we should develop with it.
Hey Monica! I really enjoyed the economic and regulatory trends you chose. I think using cheap housing materials to fight poverty sounds like a good idea, but might be a little difficult to implement. How will we know these "cheap materials" are durable and able to withstand natural disasters, like hurricanes and tornadoes? It's good to want to eliminate homelessness and provide everyone with a roof over there heads and relieve the cost of renovations for those who can't afford it, but hopefully the cheap materials will be cheap in price but good in quality. Also, make sure to include a source for each of your opportunities.
ReplyDeleteMichelle Lam
Hi Monica,
ReplyDeleteYour economic and regulatory trends are interesting. I do think that using cheap housing materials is an excellent idea but I also think that the areas that they could be used would be very limited. I would be interested in looking into this more but don't see a link to where this article came from. I know there are a lot of homeless people who live in Florida because of the weather but I don't think that using cheap materials to build in Florida would work out to well.
Hi Moncia,
ReplyDeleteGreat job! I really like the opportunity you pointed out for LGBT communities because it’s definitely growing, but I don’t think I ever would have noticed it. For the cheaper housing, I also think carpenter businesses and other organizations could benefit from the economic trend.
I think having different paragraphs, or maybe bullet points, would aid in readability of the different points of the trends. As sections shift, it seems like random information is being thrown until I realize a new thought is being given.