Why did you see this opportunity?
Economic Trend #1: Rapid growth among jobs requiring master’s degrees
Source: “US Economic Outlook for 2019 and Beyond” https://www.thebalance.com/us-economic-outlook-3305669
I believe there is an opportunity present with more and more jobs requiring a master’s degree. To me this means that more and more companies are getting more knowledgeable and hard working employees. To me this presents an opportunity for companies to be able to afford to make more innovative and tech related products and services. With more higher level thinking employees a company will have employees that know how to logistically communicate and conduct business, to me this means this allows a company to cut back on mid-level employees whose basic job requirements are to manage and conduct logistics. With the new incoming employees having higher education they will be able to a higher level of innovation and workable products that accurately pair with a company’s target market.
With this new opportunity I believe the typical benefactor and customer of this trend in higher education will be companies looking to get younger and more innovative.
I think this opportunity is going to be pretty easy to exploit as since the employee field is growing in numbers of those who have a masters. This means that soon it will become the norm to have a masters and as the field continues to grow, the easier it will be for companies to take advantage of this.
I feel like this is an opportunity that can be identified by more people than just me. I formed this belief because I saw that more jobs are looking for applicants with master’s degree. With this trend occurring I made the connection that more students would get their master’s degree.
Economic Trend #2: Minimum Wage Increasing
Source: “Four Economic Trends That Will Impact Your Wallet in 2019” https://www.thesimpledollar.com/four-economic-trends-that-will-impact-you-this-year/
I believe with minimum wage increasing this presents an opportunity for more businesses to go digital with its basic services that are currently being provided with minimum wage employees. As minimum wage increases this means employers are paying their employees more for the same services. These services like checkout and basic greeting can be done through digital responsive services.
The prototypical customer for this new opportunity would be businesses with a lot of minimum wage employees like fast-food restaurants and retail stores.
I think this would be a pretty difficult opportunity to exploit just because all the new implementation for businesses would be tough. A lot of the businesses that contain heavy amounts of minimum wage employees are big chains. These big chain businesses would have difficulty changing across all their stores a new policy of digital responsive services instead of employees. Also, I think the customers would have difficulty transitioning to this instead of more people employees.
I feel like this is an opportunity that can be identified by more people than just me. I formed this belief because in high school I worked for 3 years in a sporting goods retail store and found that most of the services done by minimum wage employees could be done by digital responsive systems.
Regulatory Trend #1: More states legalizing sports gambling
Source: “Here's What Will Change (and What Won't) Now That Sports Gambling Is Legal” https://www.complex.com/sports/2018/05/heres-what-will-change-and-what-wont-now-that-sports-gambling-is-legal
I see an opportunity with sports gambling becoming legal in more and more states. This is an opportunity for sport franchises and tv companies to make even more money as with people having a monetary investment on the game they are more likely to tune in on a game that would normally not interest them.
The prototypical consumer for this new opportunity would be the sports consumer.
I think this opportunity would be pretty easy to exploit because with people having monetary investments on games, it will be easier for consumers to become interested in the lesser known sports and sport leagues. These leagues can exploit this opportunity to gain interest and generate more revenue.
I feel like this is an opportunity that can be identified by more people than just me. I formed this belief because I saw how when the news broke, that sports gambling could become legal in more and more states, the whole sports world went insane saying how big this is for sports leagues.
Regulatory Trend #2: Regulation protecting privacy and security concerns
Source: “10 Top Regulatory Issues for Small Businesses in 2019” https://www.paychex.com/articles/compliance/top-regulatory-issues
With regulation shifting to protect consumers’ privacy and security, businesses have to adapt to these regulations. I see an opportunity to respect these regulations and promote themselves as a safe and secure company to garner more consumers that have these concerns with privacy issues.
The prototypical consumer for this opportunity would be those with concerns over privacy in today’s environment.
I think it would be hard to exploit this opportunity because it could become a situation where almost every single business promotes themselves as a safe and secure business. This would cause consumers to place less value and have less faith in a company promoting themselves as safe.
I feel like this is an opportunity that can be identified by more people than just me. I formed this belief because I made the connection that with the consumers wanting more privacy, business should promote how secure they are and give the consumers what they want.
