Economic Trends
1. Rise in Housing Costs
b. I believe there is an opportunity here for consumers to capitalize on their purchases that were potentially made when the market was in more disarray.
I believe this opportunity exists because I have seen it first-hand. I had the opportunity to buy a home in 2008 for a price, and that same home today is being sold at a 40% increased asking price.
c. The person with the opportunity here has to be the seller. It is clearly a buyer’s market.
d. I think the opportunity here is easy to exploit, but there are many qualifiers to be able to exploit it. A consumer would have to be in the correct financial situation and be in a position to sell his/her home when the market is high.
e. I saw this opportunity first-hand in the home buying process.
2. Rise in Raw Material Tariffs
b. There have been recent sanctions that have affected trade with some of our closest allies, and also had major implications in the construction trade. I believe this rise in tariffs has taken the monetary advantage away from imported goods, and persuaded companies to purchase these goods domestically to not incur the tariffs.
c. The person with the opportunity here is the American manufacturing companies. I believe the tariffs will push more U.S. made materials.
d. The opportunity would not be easy to exploit, as you would need a good relationship with raw goods manufacturers in the U.S. That could be a difficult market to break into at this time.
e. I saw this opportunity because I am in the construction trade, and this has had fairly substantial financial impacts to my projects.
Regulatory Trends
1.) Implementation of a New Tax Code
b. This new tax law went into effect last year and has caused confusion among consumers about different things. I believe this confusion has led to the utilization of professional CPA’s and accounting firms more in this past year than ever before. I don’t think anyone likes tax problems and the smart thing to do is certainly ask an expert.
c. The person with this opportunity has to be newly credentialed CPA’s and accountants. Their workload must have gone up.
d. This opportunity would be difficult to exploit, unless you have a CPA license and a degree with a financial background.
e. I saw this opportunity because the new tax code meant something completely different to the upper tax brackets, and I know a few people who are in them. I am certainly not one of them, and my taxes weren’t drastically affected.
2.) Legislature to allow dogs on restaurant patios
b. I think the millennial generation has a serious dog problem. They can’t seem to get enough of them. In Abilene, TX, they will vote to allow dogs on the premesis of a food establishment but would limit it to the patio. This is an opportunity for more business, which is never a bad thing.
c. The person with this opportunity is the Abiliene, TX. Council members, and also the restaurant owners themselves. The article states that it would be at the owner’s discretion.
d. If passed, this opportunity would not be difficult to exploit. Training would have to take place to make sure no violations were made, however.
e. I saw this as an opportunity because my fiancée can’t seem to stop talking about dogs, and very much judges an establishment by their dog policies.
Hey James,
ReplyDeleteI really enjoyed reading your post on economic and regulatory opportunities around the world. The one I particularly enjoyed was the one about allowing dogs on restaurant patios. I agree with you in the sense that people today are obsessed with dogs. Everywhere I look on social media I see pictures or videos of dogs. I don't think they should be allowed on restaurant patios though. First, I think there is simply no reason for people to bring their dogs out to eat. Secondly, dogs can be loud and disruptive and I just don't think a restaurant is the place for them.
Hi James, thank you for your post. It was exciting to see a post that addresses some of the less mainstream regulatory trends going on in the country today. Dogs allowed on restaurant patios creates a whole new set of problems that business owners must solve to keep their patrons happy. It will be interesting to see how entrepreneurs react to this legislation to find ways to turn this regulatory change into a profitable situation.
ReplyDeleteHey James, after reading your article, I can agree with all of your opportunities being present. The one about the dogs being able to sit in restaurants or on the patios of restaurants resonates with me as I have a little cocker-poo who I enjoy taking to the beach; however, I am often limited in food choices as certain restaurants do not allow her to come in.
ReplyDelete