1. How to fix being an impulsive buyer
a. I found the article on Yahoo Finance.
b. The problem is that there are impulsive spenders and can not manage their finances. The opportunity is to possibly create a business to help them manage their money.
c. Young adults would probably be the most impulsive spenders. Lets say 18-30 would probably be the age range.
d. I believe the problem would be easy to exploit. There are so many people out there that are impulsive spenders and can not manage their own finances.
I am sure that other people would have seen this opportunity. I would think that my own problems with managing money led me to form this opportunity into a business idea
2. How to prioritize debt and payoff what needs to be gotten rid of first.
a. I found the article of Yahoo Finance.
b. The problem is that are people that have gotten into a lot of debt and do not know where to start when trying to pay it off. The opportunity is to advise people on prioritizing debt and paying off the right ones first.
c. Again, I would have to say young adults, but probably from 21-35 years of age.
d. I believe this problem would be easy to exploit. America lives on debt and so many Americans do not even understand it. They just say "hey there willing to give a car or house and al I have to do is make a monthly payment, sign me up." They do not understand the interest or any aspect of it.
Other people I am sure have seen this problem. I see the opportunity as a business because I use to struggle about prioritizing debt. I did a lot of research and I am now good at prioritizing debt. It was hard work that most people would rather pay someone to do than to just do it themselves.
3. priority invasive species that need to be taken out of Florida
a. I found it on laws.flrules.org
b. An opportunity is present for a trapper to take out these invasive species
c. people who are outdoors a lot, and know the wildlife.
d. This one might a little troublesome to exploit because it is a niche thing for people to get into. I love wildlife and this is something that I would be interested in.
4. law to help parents not have to put up child for adoption. It is trying to keep families together
a. I found it on regulations.gov
b. There should be parenting class to help families succeed and not have to put their kids up for adoption.
c. It would be for young adult parents that do not know much about parenting.
d. It might be difficult to exploit because many parents might not want to seek help because they are embarrassed. I was once a young parent and it was difficult.
Hey Peter, another great blog post you've got here. I really like the sources you found your articles on, Yahoo Finance is a very great website to read off. I think prioritizing debt is super important, especially for young people who do not have extensive education on economics or finance. Money management skills are important for anyone in life. That also goes for the opportunity you spoke on about being an impulse buyer.
ReplyDeletePeter, I think your first two opportunities could be ideal in putting them together and finding a financial solution to help out both. These days, many people have both debt and have a problem with impulsive buying, it would be interesting to see a solution that helps both.
ReplyDeleteHey Peter, I feel like you have identified some great opportunities in this post, especially the ones that had to do with the financial habits of millennials. As someone in the age range you described, I would definitely say that I would use a financial management service that would help me better budget my money and allocate it efficiently.
ReplyDeleteHi Peter, your first opportunity is something that extremely useful.I have my moments where i have impulsive buys, but having a system that could help me budget better and actually save seems great. Impulsive spending is a real issue that does need help addressing because someone that does not have natural good spending habits will never be able to teach themselves.
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