6. Identifying Opportunities in Economic & Regulatory Trends

Regulatory trend opportunity #1

• The recent ban on plastic straws and stirrers in Miami.
• Source: https://www.sun-sentinel.com/local/miami-dade/fl-ne-miami-beach-plastic-straw-ban-20190912-re773nnrxfbwlbxgnied6q5j2u-story.html
• Why I believe an opportunity exists:
• Since businesses will face fines if they continue to distribute plastic straws and stirrers, I feel that they need an alternative that follows the plastic straw/stirrer ban, is biodegradable, and is reliable to consumers (ex: paper straws crumble and bend after a little while so something sturdier).
• Who would be the prototypical customer?
• The prototypical customer would start with the businesses who need an alternative to plastic straws and stirrers, but also the individuals who will end up using the straw. 
• Is the opportunity easy or difficult to exploit?
• I think this opportunity will be fairly easy to exploit as there has already been a large hype for reusable straws, and a sturdy, biodegradable straw would definitely appeal to people, especially the companies who need the replacement.
• Why I saw the opportunity:
• I personally HATE plastic straws and single-use plastics, but to be completely honest I'd rather use a plastic straw instead of the more common paper alternative. With these bans taking place, paper straws are a cheap alternative to companies and are biodegradable, however, they turn to mush so easily. I also don't want to splurge on buying a fancy reusable straw since the cheaper ones tend to be produced in an unfair labor situation. I would love for there to be an alternative that won't hurt the environment, people, or shrivel up while I used it.

Regulatory trend opportunity #2

• New York will ban all flavored e-cigarette products
• Source: https://www.nytimes.com/2019/09/15/nyregion/vaping-ban-ny.html
• Why I believe an opportunity exists:
• Since the new vaping disease has been sweeping the nation, a lot of weight has been put on the shoulders of companies whos e-cigarette products appealed to minors. The original intent of these products was to help smokers quit smoking cigarettes, however, it turned into a "must-have product" for teens and now they are paying the life-threatening price. I think that a product that is unappealing to teens can be made, there just needs to be careful considerations on how to create such a product without starting over the epidemic.
• Who would be the prototypical customer?
• The prototypical customers would be adults who are trying to quit smoking
• Is the opportunity easy or difficult to exploit?
• I think this opportunity will be extremely difficult to exploit due to all of the controversies the e-cigarette market has faced recently. I personally do not think it is "cool" or "trendy" to use e-cigarettes and I would probably be angry if a new product were to come out that would start the cycle all over again. The idea needs to be carefully planned out and carried out in a way that would appeal to those who want to quit smoking, and not appeal to kids and teens.
• Why I saw the opportunity:
• So many of my friends are now addicted to nicotine and e-cigarette products solely because the fruity flavors sounded good to them. I never saw the appeal of the e-cigarettes and I understood they were intended to help adults with nicotine addictions, not create more. I want to see a product that will help prevent situations like this from ever occurring again, but also help adults beat their smoking addictions.

Economic trend opportunity #1

• Baby Boomers aren't retiring
• Source: https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp
• Why I believe an opportunity exists:
• Baby Boomers, according to the article, for the most part, do not have enough money saved to be financially stable once they retire, and their retirement has been delayed significantly. They keep working to try and earn the money to retire and fix the damage done by the recession in 2008. I think there is an opportunity because many millennials are now joining the workforce and seeing a shortage of their desired jobs due to the baby boomers still working in those positions. The baby boomers have set company standards high and the shortage of jobs will possibly hurt the future generations if they don't have the experience.
• Who would be the prototypical customer?
• The prototypical customer would be both baby boomers and millennials as the baby boomers deserve to be able to retire and be financially stable, and the millennials are looking for jobs.
• Is the opportunity easy or difficult to exploit?
• I think the opportunity will be difficult to exploit due to the skepticism of the baby boomers from the recession. However, for Millenials, I think the opportunity will be easy to exploit because they all are eager to get their dream jobs.
• Why I saw the opportunity:
• I always struggled to find jobs and especially now that graduation will soon be upon me I felt I related to the article. Many jobs require x years of experience or just simply are not available and it only makes the future seem more and more complex. At the same time, I am sure my parents want to retire and be able to relax and are still working to help ensure they are stable as well as me. 

Economic trend opportunity #2

• Wall Street banks looking to sell their research services
• Source: https://www.ft.com/content/d127e2b2-d899-11e9-8f9b-77216ebe1f17
• Why I believe an opportunity exists:
• Wall Street banks are only running into this issue now due to the lack of retention from their traditional clients. They want to expand to new companies and sell their services in investments and tradings and for newer companies just trying to catch their footing, this could be beneficial to them. 
• Who would be the prototypical customer?
• I think there are 2 prototypical customers, the Wall Street banks, and the customers who would buy the research services. The banks need there to be opportunities with clients, and there are definitely companies who will need help.
• Is the opportunity easy or difficult to exploit?
• I think the opportunity will be difficult to exploit because traditional customers did not return for a reason, and Wall Street banks most likely will not want to change their ways.
• Why I saw the opportunity:
• From an entrepreneur standpoint, opening or running a company can prove difficult for people with no knowledge of the economy or finances. I know that if I want to open my own company one day, I need to take the time and effort into doing research and conducting careful planning. Having insightful research on the economy and having analysts could be beneficial to ensuring a company is a success.