19A- Idea Napkin No. 2


Idea Napkin #2
I am a third-year marketing student at the University of Florida, hopefully graduating after my internship next summer with a bachelors before going into a Master’s program with the business school. I have skills and experience in sales and graphic design, as well as small business management. This business could be the only job I have after college for the rest of my life. 

Optimistically, I could work on this project for several years, living off funding by a sponsor or under the employ of a company that I have pitched this idea to. Selling the idea, which should be worth millions of dollars could afford me a modest living after retirement, unless I do not sell the idea and product, but continually sell the service to companies in different forms. A utility or subscription basis would keep me working for a long time.

What I am offering to customers (the elevator and real estate companies) is a more efficient way to operate the elevators, saving the company energy costs and the final consumer (the resident or patron riding the elevator) incremental amounts of time that add up or can make differences in people’s lives. The unmet need in their lives is a better way of life, which can start with my programming.
Those that I am offering the product to are elevator companies, of which would be geographically sectioned and small in number, and real estate developers, which should jump at the opportunity to advertise about how their elevators use some number, say 25% less energy than others. In selling products, consumers are proven to move towards products that they feel good about using, which include green initiatives.

Obviously, the more customers are attracted to a product provided by their home or office real estate companies, a product which is truly provided by my company, the more profit for my customers and myself. The customer and consumer are different in this case because the customer is the buyer, the consumer is the user who pays the buyer anyways but could be willing to pay more.
My core competencies include a well-rounded business savvy having grown up around small business and watching lack of growth occur because of professionals’ actions. I have a unique life just based on where I have lived, what I have done, and where I am going. All the characteristics like planning and determination are not unique to me, but the combination of multiple attributes is what makes me a person very well prepared to execute this project.

My business concept seems to be totally in sync. There are no issues currently that I can imagine other than getting together a group that is capable of actually statistically optimizing an issue with multiple variables like the number of floors, number of elevators, urgency, and preference chosen by the primary customer.

Feedback Memo
Having read comments on my past posts, I now know that I should not just market this as saving time, but also energy. No additional changes to the program would be required; the additional function is just something that I had not considered before getting feedback.

Additionally, learning from the comments that my need is very specific. This is true, but I believe that there is a vast enough target market for me to go after this segment of the population and remain profitable in whatever form my project takes.

The changes I made to this idea napkin are pretty evident when compared to my first, given the changes mentioning the segments and the new marketing strategy, possibly a more successful one, of showing that my product saves energy as well as time.

Comments

  1. Kimberly PaloJuly 8, 2019 at 11:54 AM

    Hey, Jacob!
    I’m a third year at the University of Florida, too! I am hoping to get into the master’s program as well. It looks like you have a lot of skills. I’m sure you’ll get in and be successful in whatever you do. You seem to have a clear vision on what it takes to make your business succeed. I believe in you, Jacob!

    ReplyDelete

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