Venture Concept 2

Opportunity
My opportunity is intended to improve the lives of all the people who are in the Gainesville area, whether they live here or are just visiting. The idea is based off of the fact that the traffic light at the intersection of West University Avenue and Southwest 13th Street is very inefficient, and takes up unnecessary chunks of time that people can be allocating towards something else. Also, the light puts many in the path of danger. Thus, people in the Gainesville area are my intended customers. While the opportunity I am looking to exploit is not a necessity, and currently has alternatives, these alternatives waste a lot of precious time for people, or risk their safety. A big reason that this opportunity exists involves the abundance of popular locations in the area, including The Standard, Publix, Piesano’s, and the Holiday Inn. Because of these locations, a lot of traffic buildup, including foot and cars, builds up, and the slow rotating traffic light doesn’t help. Currently, there are two ways to deal with this traffic light; people either wait for their turn to have the “right of way,” or rush/run the light. However, there are problems with these solutions. Waiting for your turn can take up to ten minutes, and if you are just trying to cross the street that is simply ridiculous. Rushing or cutting the light is illegal, and can end up being very dangerous. Thus, these solutions to this issue are not sufficient, and people are not loyal to these answers. This is a big and important opportunity to exploit, and it will exist as long as the light at the intersection is working in the same way that it is.
Innovation
The innovation I am trying to implement involves a traffic light that is better equipped for an overload of traffic. There would be better sensors on all sides of the intersection to detect a buildup of people or cars, and when detected, it would rotate the “right of way” faster. While this may shorten the time a certain side has to move, it would make the overall process faster for everyone. This is a very hard change to implement, as in order to change the way this specific light is controlled, all of the other lights in the area would have to be altered as a response, but hey, it’s worth it. If it could reduce the amount of traffic and potentially dangerous accidents in the area, then why isn’t it worth a shot to try and create change? It would save people time, as well as keep them safe. To be completely honest, the main purpose of this idea is about the people, not the money, and I do not believe it will be the best process in terms of acquiring wealth. However, I am a man of the people, and while it would not generate money, it would make a juristic difference for many in the area, and thus, it is definitely worth pursuing.
Venture Concept
            The sensors that rotate the “right of way” among people at the intersection will solve both issues of traffic and safety. Due to the fact that the “right of way” would rotate faster, there would be less traffic in the area, which would waste much less of people’s valuable time. Also, since people know they will get the chance to move quicker than before, they will be less inclined to rush the light, limiting the chance of a dangerous situation. While there is really nothing for customers to buy, they will all get behind my idea, as it greatly benefits their lifestyle. There is no possible way that customers would prefer the alternative to my idea. The current competitor is the light that controls that intersection today, and its weaknesses are that, well, it is inefficient, causing traffic and dangerous situations. While my product is better in every way, the competitor is already there, and it would take a lot of effort to change. The people of Gainesville, my customers, are very important for this idea, as I cannot tackle this issue alone, and with their advice, I can figure out the best way to cause change. Together, with the help of others in the area, we can make a difference, due to our strength in numbers.
            My most important resource would be the fact that this is an actual issue. Humans have been around for a while, so we currently have solutions for most of our issues. Most of the time, when a new product is made, it is more for entertainment than need nowadays, whereas this innovation would make the lives of many easier.
            Next, I have to figure out the best way to garner the attention of those in charge of the traffic lights, and enlighten them to my beliefs on why a change is necessary. Whether this is through protest, or contacting a specific person, taking action is really what is next in terms of my entrepreneurial plan.
            In five years, I want to have the light changed, however this may be unrealistic in only five years. But by that time, I definitely want the people in charge to be aware of this issue. Solving this problem would give me confidence for any issue I want to overcome in the future. I can look back on this experience, and realize that while I may not be able to do everything I aim to accomplish, I can at least put in my absolute best effort, and ultimately, as an entrepreneur, that is what matters most to me.

          I was really proud of this work, and this would explain why I did not receive any corrections for this assignment. I only received positive feedback. This class has taught me a lot about entrepreneurship, and I will take the lessons with me throughout my entire life.

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