Idea Napkin No. 2
1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?
My name is Czar Parreno. I am a junior at the University of Florida, studying computer science and minoring in entrepreneurship. Ever since I was a child I have always been good with computers and technology. My aspirations is to design the mobile application for my business concept. If I were to start this business I think it would play a big role in my life as I would have to dedicate time for research and building the business. As well if I were to work on the application myself that would take time too.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
I am offering my customers a ride sharing service similar to Uber and Lyft. My customers would use an app to place orders for rides. The thing that makes it unique is that my service relies on scooters as the primary mode of transportation. As well, the service would only be able to drive customers within close proximity to college campuses, where it is safe for scooters to drive. As well, this would benefit customers with shorter wait times for ordering rides.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
I am offering my service primarily to college students or anyone who travels around college campuses. My service is appealing to them because it is very cheap and quick. It would allow for students to get to places for a cheaper price and a faster time than other ride sharing services. Very useful for the common college student who is running late to class and does not want to waste money.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
They would care because I provide them with cheaper and faster transportation than what is currently available in the market. My customers would pay me because they need to get somewhere quickly and all other options are inconvenient, expensive, or slow. In my opinion, there are many people who have the problem of traveling around campus every day, and currently there are no convenient and cheap solutions.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
My idea is unique in that it relies on scooters as the main mode of transportation. As well, it limits the distance they travel to close proximity to college campuses, which leads to fast and cheaper transportation. Moreover, my price for a ride is very competitive making it different from everyone else.
6) In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
I believe that all these elements come together to make a great business. I have a background in computer science, however, I know developing an app for a business like this would require many people, so I would definitely get help. The only thing that I have no idea doing is setting up all the legal documents and such for starting this type of business.
7) For the "feedback memo" -- please summarize at least two main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin.
I did not get any feedback from my last idea napkin. :(
My name is Czar Parreno. I am a junior at the University of Florida, studying computer science and minoring in entrepreneurship. Ever since I was a child I have always been good with computers and technology. My aspirations is to design the mobile application for my business concept. If I were to start this business I think it would play a big role in my life as I would have to dedicate time for research and building the business. As well if I were to work on the application myself that would take time too.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
I am offering my customers a ride sharing service similar to Uber and Lyft. My customers would use an app to place orders for rides. The thing that makes it unique is that my service relies on scooters as the primary mode of transportation. As well, the service would only be able to drive customers within close proximity to college campuses, where it is safe for scooters to drive. As well, this would benefit customers with shorter wait times for ordering rides.
3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?
I am offering my service primarily to college students or anyone who travels around college campuses. My service is appealing to them because it is very cheap and quick. It would allow for students to get to places for a cheaper price and a faster time than other ride sharing services. Very useful for the common college student who is running late to class and does not want to waste money.
4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.
They would care because I provide them with cheaper and faster transportation than what is currently available in the market. My customers would pay me because they need to get somewhere quickly and all other options are inconvenient, expensive, or slow. In my opinion, there are many people who have the problem of traveling around campus every day, and currently there are no convenient and cheap solutions.
My idea is unique in that it relies on scooters as the main mode of transportation. As well, it limits the distance they travel to close proximity to college campuses, which leads to fast and cheaper transportation. Moreover, my price for a ride is very competitive making it different from everyone else.
6) In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
I believe that all these elements come together to make a great business. I have a background in computer science, however, I know developing an app for a business like this would require many people, so I would definitely get help. The only thing that I have no idea doing is setting up all the legal documents and such for starting this type of business.
7) For the "feedback memo" -- please summarize at least two main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin.
I did not get any feedback from my last idea napkin. :(
The cheaper transportation is what really grabs my attention. You would be very exposed to liability, but you will get all of the customers. When you want to get a coffee, do you buy a 6$ Dessert on Starbucks? Our do you get the straight cheapest coffee (because who pays that much)? I go for the cheapest because I have a limited budget (definitely more than I need) but you get it. Predatory pricing is the most efficient in the long run. I used that in my first business and I gained a lot of money and customers.
ReplyDeleteI thought you did an excellent job with your idea napkin. I think your business idea has become a lot more focused and thought out over the past few weeks, and it was nice to see that succinctly written here. I disagree with Sebastian's comment and would caution you against taking his advice. I am happy to pay a good price for my coffee (not necessarily Starbucks, but just generally speaking) because I want to enjoy my drink and feel good drinking it. In the same way, I don't think the people using your service want "the straight cheapest" version of your product. They want to feel good (i.e. respected and safe) and your pricing absolutely does not need to be predatory to accomplish both of these things. You're going to have a monopoly on the market here in Gainesville if you go through the correct legal process, so you'll be able to almost completely control the market and come up with the best pricing structure on your own terms.
ReplyDelete