Assignment 4A: Forming an Opportunity Belief

My Opportunity Belief:

There are several opportunities for unmet needs, some of which I have written in my phone, but today we will explore the possibilities of only one. This need exists in my hometown, Tampa, and is a well-known problem for most all boat owners. Owners settling for unprofessional, over paid workers to fix or redo their boats has come to be a theme here. This is relatively old and has always existed due to the fact that boats are known for being money traps right when you buy them. Companies that I have dealt with on my boat tend to be very late on deadlines, always lie to increase their paid hours working, and never do everything they say they will. Being a customer first hand of this need, and all of my friends being similar customers to other business’, I am 99% sure this unmet need exist for all boat owners in Tampa.

Prototypical Customers:

Customer #1 (Jeremy): Jeremy works at the local bait store on Gandy Blvd and being a loyal customer, I called him and asked him a few questions about my belief. Being a worker in this field, he knew exactly what I was talking about and dove into his story with this problem. He owns a boat and does not use another company, rather he fixes the things that break on his vessel himself. He does not trust other people with his boat or the work that they do. Jeremy said he has customers, almost daily, ask him where to find a good company to either fix or redo their boats and that he can’t give an honest answer! He even started fixing little broken things for loyal customers as a side job! Jeremy wishes he could pay and find someone he trusts to work on his boats, but there is “no one out there capable for a decent price,” he stated. Jeremy works from 5 AM to 11PM every day and does his repairs outside his shop which sometimes affects how well he is able to run his store. Jeremy is clearly in the search of a professional, affordable boat repair company in Tampa! He is the same boat as all of us.

Customer #2 (Matt): Matt is a kid in his twenties I met at the boat ramp just down the street from the bait shop over summer, so I gave him a ring to jot down his thoughts and if he experienced the same problem. He just got done putting his Avenger 25’ on the trailer when he answered, so his drive back to St Petersburg was the perfect time to talk. I simply asked him who he takes his boat to when he needs repairs, and like I was expecting the rant began. Matt has been taking his boat to the same repair guy for almost 5 years but continues to say how he is not always happy and satisfied with the work. Matt says he dreads when his boat experiences a flaw because he will never know when the boat will get out of the shop. Like my experience, Matt has confirmed that deadlines are never met. He has been searching for a more “professional repair guy” that gives exact quotes and exact, accurate deadlines. Like all boat owners, Matt estimates he takes his boat in at least 5 times a year and hates doing so every time. He ended the conversation by asking, “Who do you take your boat to?” Clearly Matt is in search of a new improved solution.

Customer #3 (My Father): Being the oldest person involved in boating from Tampa, I needed to get his thoughts. My father is turning 65 this year and has been boating ever since he can remember. Never moving, Tampa has been his hometown his whole life so his experience with this unmet need is the one I will value the most. Like I was suspecting, his belief was similar to all of ours. My father does not like spending extra money when he does not have to like most rational people. He is over the local business’ in Tampa and refuses to take his boat to anyone. He has a buddy who is now retired that has always fixed his own boat, so he will come over, join my dad in a cigar on a cool day, and do my Pap’s boat repairs for him. My dad has had this need for as long as he has had a boat and has not ever been 100% satisfied with one boat repair company. He says having his buddy over is not a bad solution and gives them an excuse to hang out still, so he is pretty satisfied where he is now. 5 years ago, however, when I lived at home, I was doing the boat repairs taught by YouTube in exchange for use of the boat. I can ensure you this work was the least bit professional and has probably led my dad and his buddy to smoke a few more cigars than needed.

Summarization:

After my interviews, I have learned a lot. My original opportunity is still shining for young boat owners that have busy lives. As for any rational person, an individual expects professional work for paying a steep price, and in this industry that is never the case. I believe my opportunity has strengthened due to this activity, I got no contradicting feedback, and everyone seemed to agree with my original opportunity to meet an unmet need. Entrepreneurs should completely adapt to the feedback they receive from potential customers, because these are ultimately the people that determine if you will be successful or not. If I was to receive negative feedback, or people who didn’t agree with my idea, I would remove this opportunity from the list on my phone as a whole. After this research, this unmet need has made it to the top of my list of opportunity.