4A – Forming An Opportunity Belief

1. Your beginning point.
1. I believe that in Florida there is an opportunity in creating a “home cooked” meal transportation company.
2. Describe your belief.
1. Unmet need
1. Students don't always have the time to cook meals after class. Leading many parents to worry about their children.
2. Who has the need
1. Student
2. Parents
3. Where did the need come from
1. This has been a constant problem that has plagued college students.
4. Four, what are people doing to meet this need now?
1. Parents are preparing food and the student takes it with them back to college.
5. how sure are you (say, in percent terms) that this opportunity exists?
1. I am fairly sure (80) that there is a viable opportunity.
3. Identify the prototypical customer. 
1. Students in the state of Florida
4. Iteration No. 1:
1. What is the exact nature of the need?
1. Busy student that comes home after a long day at school, then work and doesn't have the time and energy to cook a decent meal.
2. When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?
1. Very frequently (multiple times a week).
3.  How long have they had the need? 
1. Since getting a job.
4. When did they first become aware of their need? Why?
1. After a couple of months being in college, when they realized that their fridge was empty because they hadn’t gone to the grocery store in weeks.
5.  How are they currently addressing their need?
1. They are frequently eating out. 
6.  How satisfied are they with this solution?
1. They are highly unsatisfied with their current solution. (2/10) 
5. Iteration No. 2:
1. What is the exact nature of the need?
1. Don't have the time/energy to cook home cooked meals.
2. When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?
1. Every day.
3.  How long have they had the need?
1. Since entering college.
4. When did they first become aware of their need? Why?
1. Since the first time their parents went to visit them and left pre prepared food for them, they noticed the difference in quality of the food.
5.  How are they currently addressing their need?
1. They buy frozen meals from walmart and eat that.
6.  How satisfied are they with this solution?
1. They were fairly unsatisfied with their current solution. (3/10)
6. Iteration No. 3:
1. What is the exact nature of the need?
1. They do not want to put in the time commitment of cooking every day.
2. When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?
1. Semi frequently (two or three times a week).
3. How long have they had the need?
1. Second Semester of college.
4. When did they first become aware of their need? Why?
1. When they entered their second semester of college, and they were too busy with the assigned homework and projects that they did not have enough time to cook all the time.
5.  How are they currently addressing their need?
1. They visit their family semi frequently (at least once every month to one and a half months) and bring back food with them.
6. How satisfied are they with this solution?
1. They feel like is what is expected (4/10).
7. Reflect.
1. I learned that there are more students who face the same issues that I face. Many of them are highly unsatisfied with their current circumstances. Some of them feel like their circumstance is about as good as they can do at the moment. The most surprising piece of information was that they all at some point in the semester depended on pre prepared food from their parents.
8. Summarize.
1. How much of your original opportunity is still there?
1. I would say that 80 percent of the original idea is still there.
2. Do you believe that your new opportunity is more accurate than when you started?
1. Yes because I believe that now I am taking a closer look at secondary problems that could arise.
3. How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback?
1. I believe that there should be a balance between taking in customer feedback and giving in to the customer, because it is very easy to lose track of the problem when constantly taking customer ideas into consideration. That is why I believe that an idea should be based on 60% customer feedback and 40% idea from entrepreneur.