1.) My selected opportunity is one of the economic opportunities I wrote about in the 6A assignment. The particular opportunity I found was after watching a news report on the upswing of the stock market and the amount of people commonly investing in each age demographic. This got me to thinking about how out of all the people I know, or my friends know in the early 20s age range, almost none of them have invested very much, if ever, in stocks. So my opportunity is a bit of an untapped or uninformed market, possibly a bit of both.
2.) For the product/service, I took a little inspiration from my high school economics teacher. He used to put us in groups and make us run fake businesses with a computer system that would actually test our decisions and see how the business would actually do in a real world situation. My idea kind of reflects this, mixed with a class aspect. I think a program set up for 18-25 year olds could be held in a public place, such as a library or a college campus, and it could teach all about the stock market and how it works. The program would be set up with a low buy-in, of about $5 or so. Then after the participant enters, they can enter into test markets, which would be computer simulations like the one I mentioned above. Once the participants get comfortable and start understanding the process, then they can play with their $5 and invest in a second set of simulations, that mimic the real stock market. Then whoever does best, gets a percentage of the buy-in pool. The pool would be used to operate the business and to also keep customers coming back with the reward system. The customers would not only be receiving useful information about the inner workings of the stock market, but could also have a chance to test their knowledge and possibly earn some money while they’re at it.
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