7A – Testing the Hypothesis, Part 1

1) Pick an opportunity you would like to pursue. From this point forward in the class, many of these exercises will be related to a specific venture you want to start. Here's where that path starts. 

An opportunity that I would like to start is a ketogenic grocery store.

2) Clearly state the opportunity you have identified, including the who, what, why. For instance, "Hospitals in the United States are unable to easily, efficiently bill Medicare for drugs they distribute because of the logistical challenges in linking a drug given to a patient and the patient's bill." 

Individuals who want to follow a ketogenic diet may become distraught over the lack of clear options when going to the grocery store.

• The who: People following a ketogenic diet
• The what: They are unable to quickly and efficiently purchase their groceries
• The why: Normal grocery stores have a wide variety of options, many of which are not keto-friendly

3) This is your 'hypothesis' about the opportunity. It is a statement of your belief related to an opportunity. I'd like you to test the boundaries of the hypothesis by pushing and prodding each of the three elements. That means:

• Testing the who

• There are others who have this need, but it is not a critical need. Not everyone who follows a keto diet will share this need.

• Testing the what

• The boundaries of the need include only foods that are considered keto friendly. Only some foods are allowed into the keto grocery store, while others will not be to limit the distractions and expedite the process.

• Testing the why

• Some people will have this need because they want to go in and out in 5 minutes without shuffling through aisles of food they can't have. Others will have this need because they may not be 100% certain about the foods they can eat. Other people may become distracted by the number of foods available at a typical grocery store, and would rather slim their options to only a few choices.

4) In Part 1, you must interview five people. These interviews must be lengthy enough for you to get the information you need. In these interviews, you want to ask questions that try to capture the variation in the whos, whats, and whys, and your objective is to test the boundaries of your opportunity hypothesis. 

Part 1

1. Connor - I asked Connor what his thoughts were on the idea of a ketogenic grocery store, the usefulness of it, and whether it would be a successful venture or ultimately a bust. He had told me that there would be some niche use, but not to expect it to grow into a big grocery chain as a Publix or even Trader Joes. He stated the people who would benefit most from this venture would be newer individuals to a ketogenic diet since it would help streamline their dietary needs.

2. Joe - Another friend of mine, Joe, was asked several questions regarding a keto grocery store. The first question was who this would benefit most. He stated that anyone who was looking for the simplest way to follow a ketogenic diet would benefit. I also asked him what would be the biggest positive in having a keto grocery story, and he said it would be the simplicity and efficiency of being able to grab anything available without worrying if it's allowed.

3. Ines - I asked my friend Ines if she could think of who would benefit most from this venture, and she said anyone looking to start keto in the easiest fashion without too many considerations for what to choose. I also asked her what is the biggest issue for people doing keto, and she says its the discipline of maintaining the diet. Being able to go to one grocery store would minimize the chances of people 'cheating' and buying other food.

4. Jarvis - My friend Jarvis who works at Publix was able to provide a unique perspective on whether the keto grocery store would be feasible or not. He said it would be hard considering the popularity of current grocery chains, and also the niche market that this grocery store would serve. I asked him what is the biggest benefit to someone shopping for keto foods at Publix vs a keto grocery store, and he said it would be flat out easier to buy your food at a keto store if you follow a keto diet.

5. Jared - My friend Jared has done a ketogenic diet before, so I was able to ask him specific questions about how this keto grocery store could benefit him. He said the biggest benefit is being able to go in and out in 5 minutes since it would not be a large grocery store and would only contain keto friendly foods. He also added another point that some of the food inside the store would be very niche products that one would only find online or inside a keto grocery store. He said overall that this store could be feasible, but it would take a lot of work in order to make it successful.

I was able to find that yes it is possible to operate a ketogenic grocery store, but the likelihood of success would entirely depend on the location and demographics of people who are following a ketogenic diet. Many people will benefit from a keto grocery store, but there are not many people who follow a keto diet in the first place. For step 4, I found that it is hard to say whether the store would work or not, but there would be a good amount of interest in the store if it is set up and marketed well.