OPPORTUNITY 1: OPENING DISPENSARIES AS LEGALIZATION OF MARIJUANA GEARS UP STATEWIDE AND ONE DY FEDERALLY (REGULATORY)
a)I "found" the opportunity through listening to countless podcasts that touched on the issue, as well as reading numerous articles about both possible and confirmed health/rehabilitation benefits that cannabis can offer. Several states have legalized it recreationally, and some only medically. b) There are a couple reasons that I feel this information presents a great opportunity. People love the effects, both recreationally and medicinally, of marijuana. It is so widespread that I feel confident it's not just a passing trend. Additionally, people are advocating and lobbying for legalization so vehemently that I feel the Federal gov't is beginning to realize they are fighting a losing battle. c) As far as who I think the customers will be, it depends on whether it is legal medicinally or recreationally. If only medicinally, then obviously patients who have qualifying conditions. If recreationally, I feel that people from every imaginable walk of life will partake. d) As long as there are such big barriers to entry, then I feel that the opportunity is pretty difficult to exploit without an absurd amount of capital. All things considered, it's pretty easy to open up a small coffee shop, but there are currently to many rules and regulations to "easily" open up a small, independent dispensary. I feel that it is a matter of time until it becomes more accessible.
Why did I see the opportunity? I am in generally good health, but I have had issues over the years that research indicated could be alleviated my marijuana, so I began doing a lot of independent research to try and learn about the ways cannabis could potentially benefit me. I guess what I'm saying is that I developed a real, vested interest because I felt that I could benefit.
OPPORTUNITY 2: RESIST PUSH TO RAISE THE MINIMUM WAGE (REGULATORY)
a) I "found" the issue by hearing people talk about it for the last several years. b) Hearing about the issue makes me believe an opportunity exists because, in my (very) limited knowledge, I believe that resisting can help avoid major economic damage. c) I guess I'm going off script a little bit, but the "customer" who will miss out on the opportunity is most minimum wage workers. d) The opportunity to resist a raise in the minimum wage is difficult to exploit because on the face of it, raising the minimum wage sounds like a benevolent thing that will benefit everyone. Not necessarily so!
Why did I see the opportunity? I am about to enter the workforce, and I foresee making a pretty low income for a while as I find my bearings/what direction I really want to go. This got me thinking about issues such as minimum mandatory wage for workers.
OPPORTUNITY 3: Re-Branding "DUMB" TECHNOLOGY AS RETRO (ECONOMIC)
a) This one may be a bit of a stretch, but I "found" it through my own frustration at "smart" technology being integrated into nearly everything possible, no matter how ridiculous. b) People are so enthralled with the latest technology that I feel it distracts from what is important, and this constant inundation with new products and information will eventually lead to sensory overload with people, and because of this, I feel that an opportunity exists to re-brand older technologies and/or practices in order to help people center themselves again. c) I think that the customer most likely to see the opportunity is anyone who is tired of scrolling through their Twitter feed aimlessly and feeling empty and lonely inside. or maybe someone who wakes up one day and realizes that they don't actually need smart socks that send a notification when their feet pass a certain level of perspiration. At some point, I feel that everyone will long for a more simplified daily existence. d) In the short term, I think that this opportunity will be hard to exploit. However, given enough time, I think people will wake up to how ridiculous things are becoming.
Why did I see the opportunity? I've felt the emptiness and dissatisfaction that comes from trying to cram as much technology and media down my face as I can. I think they have their uses, but in many ways they have become more of a detriment than an aid, and I feel that people should get back to basics in some regards.
OPPORTUNITY 4: RUBBER OR METAL STRAWS
a) Everyone has heard about the environmental hazards that straws cause. It has become a widely-discussed issue in the last year or so. I have already seen some straws being sold in a coffee shop. b) Knowing how conscientious many people are over this issue, I feel confident that there is potential for the (currently) small re-usable straw market to grow. c) I think the most likely customers are millennials. Many Millenials are very concerned with "social justice" and environmental protection. Some of this concern seems to be genuine, but some of it seems like virtue signaling/ego-stroking. BUT, business is business. d) I think this opportunity would be easy to exploit. Some companies have already started. Rubber or metal straws are cheap to make, easy to ship, and cheap and maybe "trendy" to buy.
Why did I see the opportunity? I am interested in the coffee business, but I can also be cynical. Many coffee shop frequenters are Millenials. I feel that this demographic can be easily talked into buying straws to "save the environemnt". Maybe it'll help, but at least it will help people's consciences and some money will be made in the meantime :)
Chase, I enjoyed reading your reflections on economic and regulatory changes. Particularly interesting was the straw article. I worked in a restaurant on the beach last summer and we were not allowed to give our customers plastic straws unless they specifically asked for them. We had to give them paper straws, which get soggy after a few minutes, and many people complained about them. I think reusable straws are a great idea, but I have to wonder how many people will really use them, because they will be hard to keep clean when out and about.
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