Forming an Opportunity Belief

1) My Belief: I believe there is opportunity for a cheaper fishing rod car rack/holder. This rack/holder holds fishing rods in place when being transported in cars/trucks and protects them from being tossed around, damaged, or tangled.

2) Description of My Belief: This need is for a fishing rod car rack/holder that is cheaper than ones currently offered. This would be accomplished through the use of less luxurious materials that still get the job done and are much cheaper to produce. Fishermen experience this need. This need has always existed, because there are no products like this that are affordable to the average person. To currently meet this need, some people who can afford current products are buying them while others are simply dealing with the problem of transporting fishing rods without a rack/holder. I am 80% sure this opportunity exists.

3) Customer 1:
What is the nature of this need?
-Fishing rod lines get tangled when bouncing around in a car or truck bed, and there are no current, reliable products under even $100.
When are you aware of the need?
-Never anymore because I purchased an expensive rack.
How long have you had the need?
-Since I started fishing.
When did you first become aware of this need?
-The first time I transported my rods and brought them out with tangled lines.
How are you currently dealing with this need?
-I have an expensive rack now.
Are you satisfied with your current solution?
-I am satisfied now, but I couldn't buy one for a long time when I didn't have the money.

Customer 2:
What is the nature of this need?
-I do not want to spend the money to buy an expensive rack.
When are you aware of the need?
-I think about it most times I have to bring my rods around.
How long have you had the need?
-From the first few times i fished.
When did you first become aware of this need?
-I've always been aware its a pain to carry around fishing rods.
How are you currently dealing with this need?
-I am just dealing with it right now.
Are you satisfied with your current solution?
-No I would like to be able to buy a much cheaper rack.

Customer 3:
What is the nature of this need?
-I do not have enough money to spend on a rack right now.
When are you aware of the need?
-Every time I go fishing.
How long have you had the need?
-Since I started fishing a lot, so for a few years.
When did you first become aware of this need?
-As soon as i started driving and saw my fishing rods flying around.
How are you currently dealing with this need?
-I try to make a makeshift rack to hold my fishing rods down.
Are you satisfied with your current solution?
-I can work it out for the time being, but I would definitely want to eventually buy a rack.

4)Reflect:
     - I learned that my opportunity is definitely real, but it's applicable to a more specific demographic than I initially thought. The older people that I came across generally had enough money to where they did not mind paying for a fishing rod rack already on the market. However, younger people who were into fishing didn't usually have enough money to want to buy a rack, so they just deal with the problem. This is illustrated by my second 2 interviews, both with younger people around my age. The most surprising thing I learned is that most people who actually fish are well aware of this problem, and this is surprising because I did not really expect everyone to think it was a problem.

5)Summarize:
-I think most of my original opportunity is still there. Aside from older, more financially stable people, most people who fish are experiencing or are aware of this problem.
-I do believe my new opportunity is a little more accurate, because I was able to see what actual potential customers thought about the need/problem. My opportunity is now slightly lesser, but definitely more accurate.
-I think entrepreneurs should heavily adapt to customer feedback. Customers are who determine the success of entrepreneurs, so it is very important to carefully listen to them. Staying too firm on your original ideas while ignoring customer feedback will lead to a decrease in success.