6A- Identifying Opportunities in Economic & Regulatory Trends

Economic Opportunities

1.       Baby Boomers not retiring

a)        I had heard the news broadcaster mention this one morning while listening to the local news and it intrigued me, so I googled it to learn more. When I googled it I found that not being able to retire or not choosing to retire is becoming more and more of a trend.

b)      This information leads to an opportunity because tons of people are experiencing an unmet need. These people as young adults most likely dreamed of retiring early and spending their days golfing or laying out on the beach. The Great Recession occurred when they were young adults, hindering their goal of retiring at a “good” age.

c)       The prototypical customer is people between the ages of 45 and 75.

d)       This opportunity is probably difficult to exploit because it would require ample surveying in order to truly see if this is an issue for the majority of people between the ages of 45 and 75 in the US.

e)      Some people may not find an opportunity in this, but I feel that not having the choice or ability to retire early allows for people to stay active and continue building knowledge. If retired people may become lonely and feel they are not useful.

2.       Fight for paid parental leave

a)       I have seen this occur within my extended family. When I looked further into it I found that leave for expecting parents is sometimes not granted to the mother and almost always not granted to the father.

b)      This information leads to an opportunity because people are not given the proper time away from work for important times in their life like having a child.

c)       The prototypical customer is couples expecting the birth of a child.

d)      This could be a simple opportunity to exploit for an existing provider or program that supports maternity/parental leave.

e)      Obtaining family members who had no income flow while on leave for the birth of their child opened my eyes to this belief.

Regulatory Changes

1.       Legalization of Recreational Marijuana

a)       I came up with this belief through an article posted by ABC Action News. People are starting campaign funding to push the legalization of Marijuana, therefore if the legalization occurs they will have the upper-hand in the market.

b)      This information suggests an opportunity because it has already been legalized in some states and seems it could become a nationwide thing.

c)       The prototypical customer would be anyone that lives in the U.S. that wants to use recreational marijuana.

d)      This opportunity would probably be difficult to exploit because there is already a growing market of people who already invest in this in other states, but probably a lot of investors who hope to do the same in Florida once it becomes allowed.

e)      I find this to be intriguing when it comes to the financial aspect, while some people may only look at this negatively because of the stereotype that comes with it being recreational.

2.       Banning of Plastic Straws

a)       I have this belief because I am beginning to see more and more paper straws in restaurants. Some restaurants still have plastic straws, but do not offer them. Instead, you have to ask if you are in desperate need of one. Also, this has been very apparent in articles from a variety of different sources.

b)      This information suggests an opportunity because banning straws is not going to save the environment. People are oblivious of the fact that restaurants are using plastic in a numerous amount of ways and just doing away with straws is not enough.  

c)       The prototypical customer would be people who still use plastic straws, but try to minimize their use of plastic or think about how they can minimize their use of plastic.

d)      This opportunity would be rather difficult to exploit because of the amount of plastic still being used.

e)      I saw this opportunity because I have been actively trying to use less plastic, but I have found that it is very hard especially in restaurants that have not changed the products they use.