What is/who has the need/nature of the need
My opportunity is a product that stops glasses from falling down the nose, even when it is hot and sweat is pouring down your face. My top potential customers are truly anyone that wears any sort of glasses. This includes people who wear glasses permanently and also those who just wear sunglasses. Specifically, though, I am aiming at soccer mom types running from pillar to post for all their children's needs.
Other Questions
The opportunity for this is huge as anyone who wears any type of glasses would need this, and the window for the opportunity I think will last forever. Right now, customers aren't satisfying the need they are just living with the problems which should not have to be the case. The market is for all ages, men, and women truly anyone who wears glasses.
Innovation
As far as innovation the product I am creating is a type of substance that comes in a tube much like that of liquid concealers with the same type of applicator wand. But the consistency of eyeshadow primer. It goes on the bridge of the nose where glasses land and it creates enough friction to stop glasses from slipping. I will sell it at any drugstore or where makeup is sold and will sell a tube for 6 dollars. It should last around 3 months. Hopefully, could charge around 7 dollars for a tube which is fairly equivalent to how much drugstore concealer costs.
Venture concept
My product will solve their problems by it just being science. When friction is added the glasses won't fall. Simple as that. Customers won't have to switch to the product because there is no product on the market so far that would be comparable to mine. The packaging really does not come into play I'm just doing what I think would be best and what I would want to buy.
Minor elements
Secret Sauce
My company's secret sauce is truly my passion for it. I get so annoyed when my glasses fall so having something be created by me to stop that is what would be the best. I also have experience. I am a full-time glasses wearer who has to wear them.
Next Venture
My next venture I plan on creating a service that caters more toward a specific demographic of age. I, as a college student, want to help other college students in life so that is what I am going to do next. Not quite sure what it is yet but I'll think of something. I have decided that I am going to make an app that creates schedules automatically for students. We put in the times we want and the classes we need and boom it's done.
Next for me
As an entrepreneur in five years, I would truly like to be no longer an entrepreneur. I want to be somewhere making money but I don't think entrepreneurship is the place for me.
FEEDBACK SUMMARY
A lot of my feedback was very positive. My peers liked that I went through all the steps and that I did a good job describing everything. The main critiques were for me to be more detailed throughout, and also someone wanted to know exactly what I wanted my next venture to be with the college students.
WHAT I CHANGED
I changed by being more descriptive. I added more details to multiple of the sections and made it clearer what my venture with the college students would be.
Hi Rebecca!
ReplyDeleteGreat job on this updated venture concept. I think you did a good job taking the feedback that had been given to you by your peers and incorporating it into this updated version of your venture concept. Specifically, I enjoyed getting a greater sense of the next steps you see for this venture and your secret sauce. Nice post!
Hi Rebeca,
ReplyDeleteI can really see a product as such being sold at stores like Walgreens and CVS, I think you have a great idea. I like the fact that it was because this problem directly affected you that you were able to come up with the idea. Furthermore, I think your idea with automatically made schedules is brilliant and it is something that I personally hate doing myself as do many students I’m sure.
Hi Rebeca,
ReplyDeleteI can really see a product as such being sold at stores like Walgreens and CVS, I think you have a great idea. I like the fact that it was because this problem directly affected you that you were able to come up with the idea. Furthermore, I think your idea with automatically made schedules is brilliant and it is something that I personally hate doing myself as do many students I’m sure.
Hi Rebeca,
ReplyDeleteI really enjoyed reading your post. I think you have a great idea and product. Over the semester I think you have really received some beneficial information to help you shape your business and product. I also really like the idea of automatic schedules. I think that is really efficient. I also agree that you are the secret sauce because this is something that you have been experiencing for a while now. Great job!
Hey Rebecca,
ReplyDeleteI would say one of the most important things you've learned is how you feel about entrepreneurship. It's good you realize entrepreneurship's importance to you and your exit strategy. Nice touches on detail and specific pricing in pharmacy corner stores. I'd buy it.