7A – Testing the Hypothesis, Part 1

1) For this assignment, I have decided to research more about my topic of a bus system on post at the military installation I currently live on for soldiers, DOD civilians and their families to make up for the lack of public transportation offered here.

2) The Who: The prototypical customer would be anyone that would use transportation on this particular military installation.

The What: This would provide a bus system for everyone on post.

The Why: This opportunity exists because of the lack of public transportation on post.

3)

• Testing the who: I believe this could be a need that is not met across many military installations. 

• Testing the what: I believe the boundaries of this need would be if these particular people have other means of transportation or prefer a different means of transportation.

• Testing the why: I believe this is a need because many new and young soldiers or families can not afford a vehicle or more than one vehicle.

4)

Interview #1
I interviewed a soldier who's first duty station is here. He told me that he is unable to buy a car because he is young and does not have any credit yet. He stated that its to expensive for him to buy a car at the moment. He has only been here for a couple months and finds rides from fellow soldiers. He supports the idea of a bus system as it would allow him to go places whenever he needed to.

Interview #2
I interviewed a mom that lives on post and has one child. She stated that her family is not financially able to buy another vehicle which leaves her stranded at home when her spouse goes to work. She supports the idea of a bus system because it would allow her to take her child to the park when her spouse is at work.

Interview #3
I interviewed another mom who lives off post but works on post. She is a single mom and commutes every day to work with her car. She stated how she would not necessarily need buses on post but would think it would help a lot of people. She also stated how her child is really into cars and trucks and would find it fun to simply ride on a bus.

Interview #4
I interviewed a father of two children who has two children that are driving age. He is a soldier and they live on post. He stated that he would find a bus system helpful for his children as it would allow them to pick up a small job on post and be able to save up for a car. He stated how sometimes he isn't able to drive his children to their jobs due to him being at work and would find the bus system extremely helpful. He stated that he would personally not use it but his family would.

Interview #5
I interviewed my husband who is a soldier and he stated that he would support the idea of a bus system because he has multiple soldiers who do not have vehicles and he gives rides to. He would not personally use the bus system as we reside off post but it would be helpful because he would not have to worry about his soldiers being late to work.

5) After my interviews, I found that a vast majority of people supported the idea of a bus system. Many stated that they would use it or would know people that might use it. I think this is a great opportunity and if followed through would help a lot of people.

I also wanted to add a note because on my last post a lot of people stated they did not see there being enough customers for it to be successful. I just wanted to put in it into perspective how big a military installation is. On this post there are 5 elementary schools, a middle school, 5 neighborhoods and is home to more than 10,000 soldiers, this does not include their families or DOD civilians that could potentially use this bus system. Just thought I'd put that out there for people who are unfamiliar with military instatllations.

Thanks for reading!

6A – Identifying Opportunities in Economic & Regulatory Trends

Economic Trend #1 - Unemployment Rate

(a)Throughout the entire Coronavirus pandemic, unemployment has been a constant issue. It has been brought to peoples attention through multiple news broadcasts and social media.

(b) This information leads me to believe that an opportunity exists due to the large need of jobs throughout the nation. This will allow small businesses to start up and be able to provide these people with jobs while building their business.

(c) The prototypical customer would be someone who has been financially affected by the Coronavirus pandemic.

(d) I believe this opportunity is relatively easy to exploit due to the high need for jobs for many people.

I saw this opportunity because people in my community are struggling with unemployment.

Economic Trend #2 - Baby Boomers Aren't Retiring

(a) I found this information from multiple news sites and from personal experience. My parents are Baby Boomers and neither of them are able to retire yet.

(b) Because baby boomers aren't retiring, there is an opportunity for investment companies to target these individuals to help them become more financially stable and able to retire.

(c) Baby Boomers.

(d) I believe this is a slightly difficult opportunity because people can simply choose to continue to work. You would have to convince people to invest their money.

I saw this opportunity because my parents are unable to retire.

Regulatory Trend #1 - Securities finance takes centre stage as SFTR and CSDR strike

(a) https://www.globalcustodian.com/2020-vision-regulatory-trends-define-new-year/

(b), In this article it states how industries need to be more open and adapt to change. These businesses need to become more secure and better efficient in how they help customers.

(c) Businesses that are not up to date and efficient in there sales would be the prototypical customer.

(d) I believe this issue is easy to exploit due to the need of it.

I saw this opportunity due to previous research on security breaches throughout businesses.

Regulatory Trend #2

(a) https://www2.deloitte.com/us/en/pages/regulatory/articles/insurance-regulatory-outlook.html

(b) This information states how insurance companies are failing to meet the needs of individuals by helping them cover legal issues and new laws put in place.

(c) The prototypical customer would be most of the US due to the need of insurance.

(d) I believe this opportunity is relatively easy to exploit due to the high demand for good and relaible insurance.

I saw this opportunity due to my personal experience finding good insurance and the lack of help with legal issues.

5A - Identifying Local Opportunities

Article #1 - Come up with at home activities or online activities for children to do.

With many activities canceled or in limbo, what will Wichita’s kids do all summer?

https://www.kansas.com/article242915891.html

This article starts off by talking about the issue with summer camps and activities being closed due to the Coronavirus. It states how these previous popular summer camps are no longer open or are open to half capacity leaving many children stuck at home. It talks about what is and isn't open, what pools and parks are open and what other activities there are to do.

The issue presented in this story is the lack of activities and summer camps for children to do throughout summer.

Parents and children have this problem because children will not be able to do the same activities they used to do and parents will have to search for a variety of new activities that are open and can accommodate for their children.

Article #2 - Create a mobile or at-home job for people that are affected by the Coronavirus.

41 million have lost jobs since virus hit, but layoffs slow

https://www.kansas.com/latest-news/article243049101.html

This article discusses the rate of unemployment that increases by 2.1% last week due to the coronavirus. It talks about how there are still 21 million people unemployed throughout the United States. It shows how the rate of unemployment is decreasing but the rate of applications for unemployment is rapidly increasing.

The issue is the lack of employment due to the coronavirus.

People that are affected by the coronavirus are being affected by unemployment.

Article #3 - Come up with an easy and affordable measure for colleges to protect this information.

‘In the hands of cyber criminals’: Man sues WSU over hack of decades-old student data

https://www.kansas.com/news/local/crime/article242844331.html

Back in December, hackers accessed information from students from over a decade ago that contained names, addresses, phone numbers and social security numbers from WSU. The university failed to inform students of this break of security for 3 months.

The issue is the lack of security of this information.

The problem affects universities that have out of date security measures for this information.

Article #4 - Come up with a better drainage system or easy fix to this problem.

Flash flooding inundates Westport, traps drivers around the Kansas City area Thursday

https://www.kansascity.com/news/weather-news/article243066636.html

Last weekend, heavy rain causes roads in Kansas to be flooded. These flash floods destroyed roads, cars and buildings. Many roads had to be shut down and people had to drive around.

The issue is the poor drainage system.

The problem affects all drivers in this particular area.

Article #5 - Make affordable outdoor activities for people of all ages.

With summer programs limited, turn to the great outdoors

https://themercury.com/features/arts_and_leisure/with-summer-programs-limited-turn-to-the-great-outdoors/article_559c8ebb-a9a9-52c1-a105-5a2e469585d3.html

This article discusses the effects of the coronavirus and how businesses are still shut down. It goes into detail the different things you are still able to do during this summer.

The issue is a lack of activities offered to the community.

It affects everyone within that community.

4A - Forming An Opportunity Belief

1) Your beginning point. 

There should be a bus system on military installations for soldiers, DOD civilians and families.

2) Describe your belief. 

The unmet need is a public transportation system for military personnel, DOD civilians and their families. This need is new as there used to be a bus system on posts but this does not exist anymore. To meet the transportation needs now, many people are catching rides with friends or walking to where they need to go. I am 100% sure that this opportunity exists because I hear about the issue daily being a DOD civilian and my husband being active duty.

3) Identify the prototypical customer. 

The prototypical customer are soldiers.

4) Iteration #1

The first prototypical customer I spoke to said they support the idea of this solution as it would help them get to work on time and to grocery stores and different appointments that are located around post. They experience this need very often as they do not have many friends who have cars or their friends aren't going to the same place as them. They first became aware of this need when they arrived on post and had to walk to the store. They are currently walking to their destinations.

Iteration #2

The second prototypical customer I spoke with has been at this installation for about a year now and has had this issue since they arrived. They currently ride their bike to work every day or catch rides from friends. They support the idea of a bus system as it would be quicker and more convenient. 

Iteration #3

The third prototypical customer I spoke with has been at this installation for about a 2 years. They do have a vehicle and currently use it to drive to all of their destinations. They support the idea of a bus system as it would be more convenient and cheaper. They experiences this issue when they arrived because they did not have a vehicle and had to buy one as soon as they could.

5) Reflect. 

This bus system would be very beneficial to many soldiers and to many DOD civilians and their families. One surprising thing I learned was that there are people who walk daily to work and to stores as these places can be miles from where they live. I think this bus system would be a good way for the base to support the military families on post and the civilians that support them.

7) Summarize.

There is still definitely a need for this bus system or some other form of public transportation as there are currently none in place and many people are in need of one. I believe that I have a lot of information about the issue and feel I would receive a lot of support about it. I believe that entrepreneurs should adapt based on customer needs in order to be successful because once needs are met, opportunities change. 

3A - My Entrepreneurship Story

Growing up, my parents (mostly my dad) seemed to constantly be doing something or changing his job or trying something new. He went from being an IT technician, to owning two hardware stores, to selling coral frags from the garage, to becoming an engineer. Of course there were a few other hobbies in between those. It was honestly crazy!

My experience growing up around this was pretty poor. There were never any successful outcomes to any of these "hobbies" or "dreams". Sure, there was always the potential outcome of making good money and being able to hand these businesses down, but it was only a dream. Many of these businesses were shut down or sold because of lack of profit or lack of funds.

I have nothing against looking to be an entrepreneur because you never know what could happen, but I have definitely seen, first hand, how it can go wrong and how it can impact your life, mentally, physically, and financially.

I enrolled in this class to learn more about what it means to be an entrepreneur. It seems like a really interesting class and its honestly very different than any of the classes I've taken before! I'm really excited to see what comes out of this!

2A - Bug List

1) I can hear my neighbors through the walls.
Because the walls are too thin.
2) I can feel the wind through my windows.
Because the windows are poor quality.
3) My sink sprays everywhere in the bathroom.
Because the water pressure is too high.
4) The door at work slams from the wind.
Because the hinge is too loose.
5) My laptop constantly dies.
Because I forget to charge it.
6) My husband constantly sings.
Because he enjoys music.
7) My cats throw litter everywhere.
Because its an instinct.
8) My house is constantly cold.
Because its not well insulated.
9) There is constantly dog poop in the grass.
Because my neighbors don't pick up after their dogs.
10) My clothes are always ripping.
Because they are poor quality.
11) My stove is always dirty.
Because I cook a lot.
12) My stove smokes.
Because it is dirty.
13) The washing machine leaves my comforter wrinkled.
Because it is too small.
14) There are sugar ants in my house.
They have not done pest control.
15) My cat won't stop laying on my laptop.
Because its warm.
16) My jeans rip at work.
Because they're poor quality.
17) My garbage disposal is leaking.
Because its broken.
18) My outside couch is very dirty.
Because a stray cat lays on it.
19) My fat cat keeps eating my other cats food.
Because he loves food and there's no way to stop him.
20) Chickfila is 30 minutes away.
Because they won't build a closer one.

Overall, I did not find this assignment to be difficult just because I do find myself taking notes of things that bug me and try to find solutions to them. It's sort of a like a to-do list that I have made.

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