Opportunity Belief

        At first thought, there are many needs unmet in the world but when analyzed with an entrepreneurial mindset, solutions may not exist in the terms of a sell-able product or service. I currently work in management in the restaurant industry and personally face many challenges that, as a business, we are required to wait for corporate to solve. The opportunity belief I chose to focus on is that of an accurate and/or profitable inventory and food cost management system not yet existing. Every company has their own process and system in place for these things but with food cost being a company's biggest expense, besides labor, there is a vast opportunity to create a system or product to increase control and decrease error. The prototypical customer is obviously going to be other people in the industry, therefore, I interviewed a few within my company who I do not interact with on a daily basis. After doing so I got support from one that this problem was legitimate but I did have another person who disagreed and felt that the way we were doing things was adequate. The third person I spoke to honestly did not seem to care either way but supported my thought that there was space for improvement.

       I am a little confused on whether this is a valid opportunity, I think that because I personally deal with this I am going to be biased towards it in a sense. However, as someone who really enjoys what I do and wants to improve restaurant operations, I truly believe that an improved inventory tracking system would increase profitability and not only for my specific restaurant but for the whole company and others if sold and implemented all over.

       I definitely think that entrepreneurs should adapt their opportunities to customer feedback considering they are the ones that are, possibly, going to be purchasing said product regardless of whether they do so with their own money or contribute in another sense.