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 Angelica and I am a fourth-year business student at UF. I am creative and
I love to find ways to do things more efficiently in order to make businesses
run better. I am currently working as an accounting assistant for a small firm
in Boca Raton FL, and I hope to go on to do a master’s in accounting next
semester. I have extensive experience with customer service after working in it
for over 3 years. Starting this business would be an interesting step for me
because it hasn’t really been an immediate wish to do so. I think it has been
eye-opening to begin thinking about creating a business right now because it
gives me a realistic expectation.
2) What are
you offering to customers? Describe the product or service
(in other words, how you'll solve customers' unmet needs).
I
will offer customers (pet owners) a fresh and local food alternative to feed
their dogs a better diet. It will help owners with finicky dogs and dogs with
dietary restrictions more options locally buy their foods the best food
possible.
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 selling this idea to any dog owner looking to feed their dog better food.
However, understanding that most pet owners are not looking to immediately
change their dog’s food, my target market includes pet owners with dogs who are
extremely finicky or have dietary concerns/restrictions. They will mostly be
local to Coral Springs, FL.
4) Why do
they care? Your solution is only valuable
insofar as customers believe its valuable to them. Here, explain why customers
will pay you money to use your product or service.
Pets
are part of the family. The wrong food can drive some pets into malnourishment and
finding good local affordable options can be a real challenge.
5) What are
your core competencies? What sets you apart from everyone
else? Also: what do you have that nobody else has?
Our
business will offer LOCAL, FRESH, AFFORDABLE dog food. We will operate boutique
style, and this is not something that exists in Coral Springs. Through
advertisement and partnering with companies like Banfield Pet Hospital and PetSmart,
we will be able to dig into the local market to grow our brand and stand out
from competitors.
I think these elements fit together very well. I am
offering my idea to a niche market of pet owners with certain needs, and through
a creative approach I will be able to stand out from competitors. The idea of
pets as part of the family (something I hope to emphasize in marketing) will further
drive people who did not think about switching foods into thinking of doing so.
Low prices and being established locally, as well as being the only place to
offer such service, further puts our business at advantage.
I think your idea napkin is well done. I agree with you, that people's pets are like a part of their family. Thus pet owners will do pretty much anything to ensure that their pet eats well and is healthy. My only suggestion to improve your idea napkin would be to include more specific demographic and psychographic characteristics of your customers. Your plan to partner with companies like Banfield Pet Hospital and PetSmart is very good
ReplyDeleteFor the next idea napkin assignment you may want to include what it is about you, personally, that will help you succeed with this business opportunity. Your demographic may also include owners of certain dog breeds that may be more prone to health issues, and would therefore warrant healthier dog food. Otherwise, I think your idea napkin is well done and effectively communicates what your business opportunity is.
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