1. Prohormones and the fitness industry
2. Prohormone supplement companies are having trouble finding a formula that is not being banned by the FDA in yearly audits due to illegal substances/dosages, this happens because these companies refuse to change their formula by finding new chemicals/herbal ingredients. Instead, they change the chemical by its structure and reformulate that way
3. A large opportunity for market penetration in the supplement industry is available because prohormones on the market get banned within 1-2 years of use due to FDA's audits for bad formulas this can be changed by using pre-existing compounds that are legal and combining them with herbal substances.
4. I interviewed 5 people who included, my girlfriend Aimee someone who has no interest in prohormones. My sister who is an avid competitor who does not use prohormones. My friend Noah Richman who uses prohormones. My friend Lawerence who is a competitor who uses prohormones. Also, a local business owner of a supplement store that sells prohormones, Cole. All of the general consensuses that I got from these people was the validity of having a product that was FDA approved. Many supplement companies don't have FDA approved products, furthermore, when having a prohormone which would be borderline pharmaceutical it would be a huge plus to go through them rather than avoid them. The consensus I got from the users of the prohormones was that they felt like the industry was shaky because they constantly would get rebranded prohormones from the same company but they had to change their formula. I got a general understanding that prohormones get bad reputations because they get rejected by the FDA, however, if the prohormones got a good reputation many people can benefit from their neurogenic effects.
5. After my interviews, I got an understanding of how people felt about this topic and how safety and validity was a top priority. I always thought this to be true.
Friday, May 31, 2019
Identifying opportunities in the economic and regulatory trends
Economic
1.
a. https://www.theptdc.com/how-to-make-100000-year-personal-trainer
b. This article shows how the personal training industry has over 100,000 per person in it and has shown huge growth in the past few years.
c. This is a service based industry so a customer will be someone who wants to get trained or someone who is referred.
d. I think this opportunity is easy to exploit because of how easy it is to enter the market. Furthermore, there are a lot of different avenues to differentiate yourself in the market.
Why?
The reason I saw this opportunity is that I am emersed in this industry and have seen so many people come up the rankings to be the best personal trainer of a region with ease.
2.
a.https://www.wsj.com/articles/consumers-love-food-delivery-restaurants-and-grocers-hate-it-11552107610
b. This article shows how the market for food delivery has grown in the past 10 years, consumers have started to like the idea of instant food especially with the introduction of computer generated software for applications such as Uber Eats.
c. This is a service based industry so a customer will be someone who wants to have easily accessible food or delicious fast food. Most customers will be prior food enthusiasts.
d. This opportunity is hard to exploit since it is run by a few bigger named apps making the barrier to entry tough.
Why?
With the growing popularity of on the go e-marketplaces such as e-commerce clothes and such, food is the next "on the go" e market place.
Regulatory-
1.
a. http://www.nutritionaloutlook.com/regulatory/supplement-industry-fda-cbd-regulations-we-cant-wait-years
b. This article shows how the market for CBD is being closely looked at by the FDA in order to determine claims made by companies.
c. Since this is a new market the companies that actually do have CBD and those who are fraudulent with their products will fall off once the FDA deems a substantial dosage for CBD induced formulas.
d. This is an easier market to get into because of regulations, once there is a set amount of dosages that FDA deems as a minimum CBD products' with higher dosages or more effective dosages will do better.
Why?
With the new market of CBD regulations will set the standard of which is good and bad products bringing back a correction of establishment in the market of market shares.
2.
a.https://www.prohormone-expert.com/prohormones-legal-usa-2019-update/
b. I found in this article the changing market of prohormones which are derivatives of PED, each year the FDA comes out with new regulations and is changing the way prohormone formulas can be dosed and which compounds are deemed acceptable.
c. This is a product based industry because of the product benefit analysis being the highest yield of consumer importance. Gym goers and bodybuilders love prohormones because they are not considered anabolic steroids but mimic the results.
d. This is an easier market to hit because the regulations are always changing and companies have to reformulate the product to fit FDA approved lists.
Why?
Many supplement companies have switched from traditional protein powders and fat burners to invest in new compounds and herbal supplements to help benefit their product line.
Identifying Local Opportunities
- The title of the article
- The link to the article.
- A description of the story, in your own words
- A description of the problem presented in the story
- A description of who has the problem
1.
- Under new rules, Miami Beach has a quieter Memorial Day weekend
- Over memorial day weekend miami tested new party regulations to keep the city free of crime during public holidays. However, promoters of bars and clubs were upset because they were restricted to the events they could hold on memorial day. Especially if the events had no-cap for people in the entrance and for drinks. Overall, Memorial Day was "safer" in Miami via the reports made compared to last years Memorial Day.
- The problem is that club/bar promoters are having more trouble with the regulations and the time constraints put under them by the city of Miami during big events. They are losing money and people aren't having as much fun. Regulations set after 2019 spring break caused event holders to be limited by the amount of people and amount of drink held events during the year.
- The promoters of clubs/bars are losing money because they can't offer promotions and good events with liquor.
2.
-Florida keys- Man was catching lobster in the Keys- and there was a problem with that, cops say
- A man in the keys was fishing under a bridge and keep undersized fish and lobster out of season. He was heavily fined and given a court date. The man did not know what the issue was.
- The problem is that fisherman in Florida sometimes get confused with regulations as people switch areas, for example Miami to the Florida Keys regulations change from fish to fish. Regulations chnage from area to area and fisherman are not informed.
- Fisherman all over Florida are granted different regulations through different regions and get confused, through this they get punished with big fines and possible jail times.
3.
- These portable speakers can explode. More than 40,000 have been recalled.
- ION Audio had a recall from their speakers because of the battery that was manufactured in china overseas. Over 5 cases has occured and the speakers are being recalled all over Miami.
- The problem is that these portable speakers are being recalled due to poor manufacturing done to 41,000 units. This recall is effective on all products.
- The people with the issue is ION audio because they decided to get cheaper manufactures and it defintely showed. They have the issues with this product line and it disrupts their reputation.
4.
- If you ate at this Palm Beach restaurant you may have hepatitis A, health department says.
- An employee at Copper's Hawk Winery & Restaurant had hepatitis A, and has possibly spread the disease to those who have worked/ dined there. Florida Health Department is recommending anyone who ate or worked there to get an vacination as soon as possible.
- The problem is that Copper's Hawk Winery & Restaurant did not do a through backround check by their employees and have now a huge issue at their hand. This disease has spread by 44 percent in the last year according to the article.
- The people who have the problem is Copper's Hawk Winery & Restaurant because they are getting bad pubilicty and is now seen as a place that had a life threatening disease.
5.
- Theme parks have more visitors than ever. It's no suprise they have long lines, too.
- The article talked about the increase in attendance of theme parks. However, the over attendance has caused fans to be annoyed by the long lines.
-The problem is that since the attendance has grown so much in the past 3 years that has caused people to wait in line longer than usual.
- The people who have the problem are the fans because they have to wait long.
Thursday, May 23, 2019
Forming An Opportunity Belief
I have a belief that an opportunity exists in the industry of food freshness. Especially in the realm of bodybuilding where people bring their meals with them throughout the day.
The unmet need I am speaking of is keeping the nutrient's alive and fresh in meal prepped food. This is a huge need in the bodybuilding world. This need is something that people would love to have that's why so many people cheat on their diet because they hate eating their prepped foods because of taste. The way they cope with this is simply eating out and skipping their prepped meal.
Interview Transcript 1-
Connor Vaughn Regular gym goer
Matthew- Hey Connor how are you?
Connor- Good brotha how are you?
M- Good, I just wanted to sit down and talk about the food you have in your container.
C- Oh yea I am on a keto diet right now it sucks.
M-Yea . , so question I wanna ask is how hard is it for you to be on this diet?
C- It's tough man I usually want to eat more food but I am so limited to what I can have.
M- Yea I get that, do you think the taste of the food might be straying you away as well?
C- Well, yea at times I have to eat out because my food just goes bad sitting around the car and s*** while I work.
M- Thats an issue I have been seeing a lot in the bodybuilding world. I wanna ask do you think that if your food was always fresh it would be easier to eat?
C- Yea it could help, because whenever I don't prep the chicken and veggies I have don't taste that bad.
C- Yea it could help, because whenever I don't prep the chicken and veggies I have don't taste that bad.
M- Almost like eating out right? I think the reason people eat out is because the food is fresh but what if we could make that happen with your prepped meals?
C- That seems awesome man.
M- How long have you had struggles with being on this diet?
C- Probably since the beginning of it, I suffered through it at first but I find myself cheating more and more.
M- That's the problem we all have is being able to stick to it for long periods of time, how do you enjoy the food though, you like eating healthy vs unhealthy.
C- Yea I enjoy the thought of it but it just sucks when its either bland or cold.
M- You are right!
C- Alright brother I got to go .
Interview Transcript 2-
Noah Richman NPC qualified bodybuilder
Matthew- Yo whats up noah wanted to ask you a quick question or two
Noah- whats up
M- How is your diet going?
N- Well I am not on a diet right now, but a diet is a diet.
M- Same here, don't you hate when your food is so bland?
N- Yes I do it sucks, I honestly can't eat cold or bland food thats why I usually just eat out and cheat on my diet.
M- Ya thats the common thing I am hearing among people. Do you think most bodybuilders are like this?
N- No I am just a lazy one haha, but most people in the fitness industry probably would agree with me. I like to cheat on my diet a lot by eating fast food because it tastes good.
M- What about eating your meals fresh?
N-Yea I like eating them fresh and flavor full the problem is when you prep chicken and leave it in the fridge for days then eat it dry it tastes horrible.
N-Yea I like eating them fresh and flavor full the problem is when you prep chicken and leave it in the fridge for days then eat it dry it tastes horrible.
M- So if you could eat your meals fresh everyday you wouldn't cheat on your diet?
N-Well I am super unmotivated sometimes anyways because of all the stress I have in my life, I do artistic dancing on the side and sometimes like to cycle. Bodybuilding has really let me down so I don't know.
M- But lets say there was something that made your food taste fresh and hot 24/7 would you like it?
N- Yea that would be cool I would like that.
M- Well thanks Noah!
N- NO problem matt!
Interview Transcript 3-
Lauren Nguyen Prospective IFBB PRO Bikini
M- Hey young tee
L- Hi matt
M- Can I ask you some questions about your prep?
L- Sure
M- How do you feel eating the same foods poor and bland all the time.
L- I honestly don't mind it. But i am very different 99 percent of people like their food fresh
M- Oh I am part of that 99 percent. If there was a way to make your prepped food fresh you wouldn't enjoy that?
L- I mean I would but it's not an issue for me.
L- I mean I would but it's not an issue for me.
M- What are some issues about prepped food you think?
L- For me, like I said I don't care I am more focused on going professional than anything.
M- What about for people in general what do you think?
L- Yea forsure my bestfriend loves to always make her food fresh she never preps.
M- Yea thats what I thought, you think people would stick to their diet more if their food was prepped fresh or tasted fresh?
L- Oh forsure taste is everything, but hey I got go.
M-Okay!
I think that there is still a big market for my problem the responses I got were similar to my mindset about things. There might be another opportunity in the realm of fast-casual restaurants that offer macronutrient friendly food. I think a good medium is important, I think the root should stay the same but maybe the approach should differ.
My entrepreneurship experience.
I have been an "entrepreneur" for life. I don't really like coining the term because everyone can be an entrepreneur if they put the effort to be. I first realized that I loved this path because when I was young I was always rethinking challenges and going against the norm. I never lived a normal life, its always been crazy. I myself have realized how important small things were and finding a path to making things better was the way I thought of things. And only when I gave into temptation did I want to do whatever one else was doing, I always knew I was different.
My entrepreneurship story I wanted to share was how I got involved with a startup cold brew company called BRIO. I organically met them through social media and started up as an influencer, and slowly started working with the small owner team of two to become head of sales in South Florida. I got to get accustomed to the owners very well and I learned a lot about business from them. The biggest thing I learned was the true grit that they give towards their craft. Working for them as their third employee has put a huge responsibility on myself making it a big responsibility I had never owned before. This not only helped me in my business mindset but also in life, in general, I have gotten a lot better with time management and other life tasks.
I enrolled in ENT 3003 because it is required for IA. However, I see myself starting my own business one day and being able to be in a class like this will help me succeed in the future! I expect to learn about ideas and creativity and making it into a real-life solution.
My entrepreneurship story I wanted to share was how I got involved with a startup cold brew company called BRIO. I organically met them through social media and started up as an influencer, and slowly started working with the small owner team of two to become head of sales in South Florida. I got to get accustomed to the owners very well and I learned a lot about business from them. The biggest thing I learned was the true grit that they give towards their craft. Working for them as their third employee has put a huge responsibility on myself making it a big responsibility I had never owned before. This not only helped me in my business mindset but also in life, in general, I have gotten a lot better with time management and other life tasks.
I enrolled in ENT 3003 because it is required for IA. However, I see myself starting my own business one day and being able to be in a class like this will help me succeed in the future! I expect to learn about ideas and creativity and making it into a real-life solution.
Bugs
Every day we live with issues that surround us.
Here is my bug list.
1. Mosquito's are plentiful in South Florida during the summer.
Why are there mosquitos? They spawn in warm weather.
2. Hard to fall asleep when you know you are constrained to a time to wake up.
Why is it hard to sleep? Anxiety builds up from knowing that you don't have a wake-up lax period.
3. Adds are way too annoying as pop-ups.
Why are there pop up ads? This is how websites make money.
4. My hair gets itchy from using gel and I constantly itch it.
Why is does hair get itchy? Because the chemicals in the gel dry out causing an itching sensation on the scalp.
5. Random allergies for no reason.
Why do I have allergies? Certain flair ups occur when certain triggers are present.
6. Things are easy to lose and keep focus of, ETC. Business cards.
Why are things easy to lose? With so many gadgets we have, it is hard to stay accountable for everything.
7. Shoes smelling bad after weeks of having them.
Why do shoes smell? Materials for shoes are cheaper nowadays and aroma products are needed to change smell after use.
8. Gyms are very packed at a certain time of day.
Why are gyms packed? People seem to go to the gym after work instead of before.
9. Random itches distract people from work
Why do itches distract people? Can be the cause of not using lotion or not having bathed properly
10. Gum loses flavor very quickly.
Why is gum flavorless after a couple minutes? Usually, cheaper gum has a very short flavor life.
11. Radio adds are longer than the actual music.
Why are there so many ads on radio stations? Radio stations are dying out and need more money from advertisements.
12. Have trouble falling asleep frequently.
Why do we have trouble falling asleep? The blue light on the phones have an effect on REM sleep
13. Bad drivers because of using phones on the road.
Why are there distracted drivers? People are so busy, they use their phones while commuting to and from work.
14. Busy road due to construction on 411.
Why are there busy times at 411? New roads are being built in order to counter the effects of poor road infrastructure.
15. Sun makes me too sweaty when outside during the summer, sweat makes me feel bad.
Why does the sun irritate us? The use of certain material in clothing can make you sweat more.
16. When I eat food that has a lot of sauce or ingredients it gives me anxiety because even if I don't spill it, I feel messy.
Why does food make me feel messy? Certain ingredients or sauces tend to have more water in them making them more prone to drip and get over your face.
17. Biting fingernails.
Why do we bite our nails? People need something to keep them stimulated.
18. Bugs on car windows.
Why do we have bugs on the car? Certain seasons of mating causes more bugs to migrate.
19. Dogs hair getting over my clothes when I walk them.
Why do dogs shed? Certain dogs have hair that is lighter than others and can gravitate towards clothes easier.
20. Itchy eyes throughout the day.
Why do eyes get itchy? Eyes need moisture or else will get irritated.
I am able to say that this exercise was extremely tough to do because you don't know about the issues until you actually do them. It takes observation and commitment to understand these "bugs".
Here is my bug list.
1. Mosquito's are plentiful in South Florida during the summer.
Why are there mosquitos? They spawn in warm weather.
2. Hard to fall asleep when you know you are constrained to a time to wake up.
Why is it hard to sleep? Anxiety builds up from knowing that you don't have a wake-up lax period.
3. Adds are way too annoying as pop-ups.
Why are there pop up ads? This is how websites make money.
4. My hair gets itchy from using gel and I constantly itch it.
Why is does hair get itchy? Because the chemicals in the gel dry out causing an itching sensation on the scalp.
5. Random allergies for no reason.
Why do I have allergies? Certain flair ups occur when certain triggers are present.
6. Things are easy to lose and keep focus of, ETC. Business cards.
Why are things easy to lose? With so many gadgets we have, it is hard to stay accountable for everything.
7. Shoes smelling bad after weeks of having them.
Why do shoes smell? Materials for shoes are cheaper nowadays and aroma products are needed to change smell after use.
8. Gyms are very packed at a certain time of day.
Why are gyms packed? People seem to go to the gym after work instead of before.
9. Random itches distract people from work
Why do itches distract people? Can be the cause of not using lotion or not having bathed properly
10. Gum loses flavor very quickly.
Why is gum flavorless after a couple minutes? Usually, cheaper gum has a very short flavor life.
11. Radio adds are longer than the actual music.
Why are there so many ads on radio stations? Radio stations are dying out and need more money from advertisements.
12. Have trouble falling asleep frequently.
Why do we have trouble falling asleep? The blue light on the phones have an effect on REM sleep
13. Bad drivers because of using phones on the road.
Why are there distracted drivers? People are so busy, they use their phones while commuting to and from work.
14. Busy road due to construction on 411.
Why are there busy times at 411? New roads are being built in order to counter the effects of poor road infrastructure.
15. Sun makes me too sweaty when outside during the summer, sweat makes me feel bad.
Why does the sun irritate us? The use of certain material in clothing can make you sweat more.
16. When I eat food that has a lot of sauce or ingredients it gives me anxiety because even if I don't spill it, I feel messy.
Why does food make me feel messy? Certain ingredients or sauces tend to have more water in them making them more prone to drip and get over your face.
17. Biting fingernails.
Why do we bite our nails? People need something to keep them stimulated.
18. Bugs on car windows.
Why do we have bugs on the car? Certain seasons of mating causes more bugs to migrate.
19. Dogs hair getting over my clothes when I walk them.
Why do dogs shed? Certain dogs have hair that is lighter than others and can gravitate towards clothes easier.
20. Itchy eyes throughout the day.
Why do eyes get itchy? Eyes need moisture or else will get irritated.
I am able to say that this exercise was extremely tough to do because you don't know about the issues until you actually do them. It takes observation and commitment to understand these "bugs".
Friday, May 17, 2019
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