Assignment 4: Forming an Opportunity Belief

Belief and Description

My belief is that there are a shortage of healthy and natural snacks available for gym goers, health nuts, people who work outside, and college students. There are many snacks out that claim to be healthy and all natural; however, these products contain ingredients that may not be considered "healthy" such as fructose corn syrup. Plus, most of these products are packaged with only small servings. Most healthy snack bars come either single or in a package of five. This opportunity is definitely a small market, but it's a market that I wish to go into. This is a new unmet need that I've recently noticed over the summer. Currently, people are purchasing snacks by the single bar or a package of the bars. I've also seen products tailored to single needs such as protein bars, fiber bars, and low calorie bars. I believe that I can make a snack that tailors to all needs. I am 75% sure that this problem exists. 

 Prototype Customer 1: Gym Goers

Gym goers will most likely be the main people who have the the problem with these healthy options for snacks. In my experience, I've talked to many people in the gym because I'm almost always in the gym for about two and a half hours of the day. Most of the feedback I get is that I get from more of the low weight gym goers who are trying to gain weight and muscle mass claim that there isn't a tasty and healthy option for a snack that helps them achieve their fitness goals in the gym. For those who are already at the mass they desire also need a snack that they can consume to maintain their size.Many of these gym goers have a full schedule to deal with and don't have the time to consume the needed calories to promote muscle growth and mass gain. To gain mass, gym goers tend to lean towards mass gainer shakes; however, these shakes tend to be distasteful and too thick. They normally experience the need through the weekdays due to school, work, gym, and errand running. In Gainesville, I would also say studying because I normally go to Southwest which is mostly college students. They first came aware of this need when they weren't seeing progress or were losing gains based on their current diet.

Prototype Customer 2: Those who work outside

People who work outside have the need to consume a lot of calories because of the amount of calories they burn in the blistering heat of Florida. I've contacted friends and family that are part of my dad's auto body shop about their thoughts on the available health bars. I've been told that they need to consume a lot of calories because they burn calories just working the heat. Like the gym goers, they acquire the need for nutrient rich and healthy snacks during the weekdays when they have to work on cars. Although I haven't talked to those with other outdoors jobs such as construction workers, I believe that they acquire the need during the weekdays as well. When asked when they first required the need for more calories and healthy snacks, they replied that a few days after they acquired the job. Currently, most of the workers at the shop walk to one of the nearby fast food places located around the shop. These places include Wendy's, Checkers, and a gas station. Therefore, the workers are not necessarily consuming healthy options but rather options that promote unfavorable calories. The workers were not satisfied with the options available around them and none seemed to go with any bar options available at grocery stores.

Prototype Customer 3: College Students

College students are not necessarily a big market but they are definitely a marketable customer for healthy snacks on a day-to-day basis. As a student myself who goes to campus quite often, I was able to interview many people on their thoughts on the existing selection of healthy snacks available. A lot of the people I talked to told me that they usually shop for healthy snacks whenever they go grocery shopping, which is about once every week. The students I talked to indicated that the need for a healthy snack happened daily when they had to attend a class or lecture. Many said that they started to notice the need a few weeks into their first semester where they were often too busy to worry about consuming healthy snacks. Currently, the students are solving their need by spending money on regular meals at places on campus such as Chik-Fil-A, Panda Express, and Pollo Tropical where the average meal costs about $6-$8. Other students said that they would purchase snacks while they were at Publix. However, these students indicated that would run out of the snack within about three to four days. Some were satisfied and others weren't. The satisfaction rate with the available options is about a 50/50 split.

Reflection

When it comes to the everyday gym goer, I learned that my opportunity is definitely there. Most of the people I talked to were really interested in a possible healthy snack solution to help them get the gains that they wish to develop. Knowing many people in the gym, I already knew most of what their answers to my questions were going to be; therefore, I didn't really learn too much from this group. As for the people who have outside jobs, I've learned a few things. I learned that in substitution for healthy snacks you can buy at the grocery store, these individuals would rather purchase food from fast food places to satisfy their calorie deficit from working outside. They also need to consume more calories than the normal person because they are burning calories at an accelerated rate due to the Florida weather. The college students were similar to the outside workers where they would rather get something from a fast food place in place of a healthy snack. I understand the struggle and I would normally do the same thing. What I found surprising is that the biggest factor that prevented most of the people I interviewed from consuming healthy snacks was time. Many didn't have the time to consume healthier options. More so the outside workers and gym goers than the college students. In contrast, college students suffered more from lack of extra cash to spend on optional healthy snacks at the store. Most students have the food plan which allows them access to some food items at the food court in the Reitz and various locations on campus.

Summation

How much of your original opportunity is still there?

I honestly don't think a lot of my opportunity is still available. I believe that many people will not see this topic on the availability of healthy snacks being a big opportunity. I mostly chose my belief on this topic because I'm trying to sell a product that is related to the belief I provided in this assignment. I do believe some of it is still available, but not a very big amount now that I think about it.

Do you believe that your new opportunity is more accurate than when you started?

I believe that my new opportunity is more vague than when I started because I came to the realization that it's not necessarily a definable opportunity. The more I think about it, the more I feel like the opportunity isn't really there. I feel like I'm trying to solve a problem that I have, and in the process trying to force it into an opportunity. 

How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback?

I do feel like at a certain point there is a trade-off between adapting and staying firm. Customer feedback helps you find how customers feel about the problem you're trying to solve. Straying too far from your belief will cause you to think of another problem. If entrepreneurs got in the habit of doing this, they would be in an endless loop of thinking of opportunities and they'll get lost. Entrepreneurs should adapt their opportunities, but should be careful not to let their opportunity go for what may seem to be a better opportunity. Sometimes opportunities are gilded with possibilities when in reality they are worse than the opportunity you originally had.