4A - Forming an Opportunity Belief

1.) I believe that there is a huge market being missed in the world of sports law. There is no standard platform for communication between sports agents and up and coming athletes at the high school, college and professional level. Agents currently reach out by either contacting athletes on social media, reaching out to them personally via phone or text, or gets connected through a mutual friend or athlete.
2.) The unmet need is that most agents are lacking strong marketing and advertising strategies to successfully recruit athletes, and most athletes are lacking a way to get their information out to various sports agency firms. The need is mutual between agents and athletes. The need derives from a combination of elements, including the improving, new technologies in society as well as the need for athletes to be represented by agents to successfully manage their money and make fair deals with teams and sponsors. This need has always been here (since the start of sports), however, is becoming more of an issue due to increasing technologies making the market even more competitive. Agents are currently reaching out to athletes as stated above, by social media, phone calls, and texts and other connections and athletes are currently reaching out in similar ways. I am about 75% sure that this opportunity exists today.

Prototypical customer #1 (athlete):
4.) What is the exact nature of the need?
-"So athletes can get help from agents to help themselves get into the pros to play sports."
When do they become aware of the need - that is, do they experience their need all the time or only sometimes?
-"The need is experienced until we get our agents, then they help us from then on getting deals with teams."
How long have they had the need?
-"I have had the need since the start of college. That's when agents have been reaching out, and this idea you have would help give me and other athletes a list of agents that may want to represent us."
When did they first become aware of their need?
-"My parents raised me growing up to always think ahead, and they said if I really wanted to play the sport I loved one day I would need enough recognition to get an agent."
How are they currently addressing their need?
-"I got my agent by reaching out via social media. I found his agency Instagram account and sent clips to him and he reached back out to me."
How satisfied are they with this solution?
-"The current way is alright and it is every man for himself. However, the new approach you are suggesting could work and help some unnoticed athletes get bigger reputations and agents."

Prototypical customer #2 (agent):
4.) What is the exact nature of the need?
-"Agents need a way of capturing talent from athletes across the country and have trouble doing so depending on the location of certain athletes.
When do they become aware of the need - that is, do they experience their need all the time or only sometimes?
-"This need exists today in the sports agency market, however, it is not absolutely necessary for agents to have. It seems more useful for athletes that are borderline future college and professional athletes."
How long have they had the need?
-"The need for agents has always existed for athletes, but this would help streamline the process."
When did they first become aware of their need?
-"I have known the need to market to athletes and athletes to market to agencies has always existed but has become much more important due to changes in technology."
How are they currently addressing their need?
-"We have agents who go and scout athletes, as well as doing plenty of research as to athletes in the area and the next 'up and coming stars'.
How satisfied are they with this solution?
-"I am satisfied with how the current process is because it places more pressure on the athletes rather than ourselves."

Prototypical customer #3 (agent):
4.) What is the exact nature of the need?
-"The need is for athletes to get name recognition and for agents to receive these athletes as clients and to market them and make them as much money as possible."
When do they become aware of the need - that is, do they experience their need all the time or only sometimes?
-"This need is only experienced part of the time. As a small company, we can only have so many clients at one time, until we hire more representatives."
How long have they had the need?
-"This need has existed for as long as I can remember."
When did they first become aware of their need?
-"This isn't necessarily a need now, but over time it will become increasingly difficult for agents to keep track of all the videos and clips athletes want us to watch without having a platform like the one you proposed."
How are they currently addressing their need?
-"We are doing things the old fashioned way, by reaching out to athletes by phone, email and different social media."
How satisfied are they with this solution?
-"I would be very satisfied with this platform if it is finally completed. You would just need to get larger agencies and lots of athletes on board, which will be tough."


5.) What did you learn about your opportunity?
-I learned that this platform is definitely achievable and not already an established idea. With enough work and marketing, I might be able to design a platform that can allow athletes and agents to connect with ease.
What was the most surprising thing you learned about your opportunity?
-I learned that this opportunity is very possible and that the market would be huge if agencies actually get on board and decide to register their firms. Even though this seems like an uphill battle, having a way to connect athletes and agents would benefit the industry and allow for easier transactions.

7.) How much of your original opportunity is still there?
-The opportunity is very much still there, it will just require marketing to agents, athletes, and leagues (they might have to approve the platform).
Do you believe that your new opportunity is more accurate than when you started?
-I don't believe that my idea has necessarily changed at all. I just now understand that it will take a lot more work than previously expected.
How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback?
-I think it is very important for entrepreneurs to adapt to opportunities based on feedback. Feedback directly leads to improvement and gives entrepreneurs ideas as to how to fix their products to lead to more success.