6A: Identifying Opportunities In Economic and Regulatory Trends

1. Falling Oil and Gas Prices

1. Because my dad works in the oil and gas industry, I was talking with him about the industry’s current economic situation and looked deeper into the logistics. 

2. The unmet need here is on behalf of traders seeking buyers of oil barrels. Another unmet need is the requirement of physical space to hold these barrels of oil that keep piling up.

3. The customers with the opportunity are oil traders seeking consumers and oil-producing countries that are trying to lower their output. 

4. Currently, this opportunity is highly difficult to exploit because buyers seeking oil are so few because the demand is consistently decreasing. 

5. I personally saw this as an opportunity due to my personal connections with a worker in the oil and gas industry. My dad’s job relies on the wellbeing of this industry, so I empathized with the oil traders who have a strong unmet need. 

2. Diminishing job opportunities and rising unemployment

1. It’s no secret that unemployment is growing due to the pandemic, so I decided to read about what the economic outlook looks like for jobs currently. 

2. This opportunity exists because millions of Americans have the unmet need of a steady income--and that number continues to climb up.

3. The prototypical customer could be a recent 2020 college graduate who just spent years studying to prepare for a job after graduation who’s now stripped of this opportunity. Further, The Balance predicts that 3 occupational groups will lose jobs heavily: production, administrative support and sales while computer and math occupations are projected to grow heavily. Members of these groups are also prototypical customers. 

4. I believe this opportunity is rather difficult to exploit due to the sheer amount of people with the unmet need. For everyone to have their need fulfilled would be an impossible job that complicates the situation. 

5. I formed the belief that this opportunity exists because my brother is a recent 2020 graduate who’s also on the job hunt. Keeping other individuals like him in mind, I came across this opportunity that’s higher for people in the technology and math sectors. 

3. Airmail ban from Hong Kong and Japan to the U.S.

1. I discovered this regulatory change upon purchasing something from Tokyo on Ebay and having the seller message me that airmail to the United States has been banned, thus asking for a $70 shipping fee to mail the item out via FedEx. 

2. This leads me to believe that an opportunity exists because Japan’s exports have plunged exponentially due to the coronavirus outbreak, and they need to resume exporting and importing to recover their economy. 

3. The prototypical customer would be an immigrant, long-distance family member or simply just a shopper seeking to send or receive something from abroad. 

4. This opportunity would be difficult to exploit due to the severity of the pandemic right now. Choosing between banning airmail and blocking potential infections while sacrificing economic advancements versus prioritizing trade while risking citizens’ health is an immensely difficult political choice. 

5. The existence of this opportunity was specifically high for me because I’m always researching merchandise from Hong Kong Disneyland and Tokyo Disney Resort and am now unable to acquire them. Also, I have many contacts who do pick-ups from those resorts who keep telling me about the airmail situation.

4. New regulation for at-home bakers in Lincoln, NE

1. I came across this opportunity in the Lincoln Journal Star after researching new domestic regulations and was instantly intrigued as a home baker myself. After reading further, I discovered that this regulation applies to bakers who sell their goods to customers, but was nonetheless interested in its proceedings. https://journalstar.com/business/local/lincoln-woman-seeks-to-overturn-citys-new-regulations-for-home-bakers/article_7ed6cef2-fe62-530b-832f-eb2da1acfe56.html

2. It seems like an opportunity exists for many more Lincoln residents to support local bakers because this new regulation requires home bakers to acquire permits and comply with kitchen inspections. With the high emphasis on cleanliness and sanitation going on right now, this would leave consumers feeling safer and more willing to purchase food from local businesses. 

3. The prototypical customer would be a baked-goods consumer in the Lincoln area that is aware of the infectious virus and seeks to buy food that’s been properly handled. 

4. Ultimately, I feel like this would be a relatively easy opportunity to exploit if bakers would comply with the new regulation. The article elaborates on a specific woman in Lincoln who fought to overturn this rule, but it goes on to suggest that the city is trying to ensure that all food being sold is in good hygiene. 

5. I formed the belief that this opportunity exists because of my passion for baking at home. Although I don’t sell it to others, I still like to deliver some to my neighbors and this regulation hit near to home.