19A Idea Napkin #2

1) You. 

I am Daniel Plattner, a third year Junior at the University of Florida looking to obtain a degree in both APK and Business. My Skills involve being very friendly and being able to speak in front of large groups. I am creative, intelligent, and a very determined/hard-worker. when faced with adversity I will do my absolute best to overcome and achieve whatever goal i have set forth. My main aspiration is to better myself everyday that I live. This could be from learning or some sort of physical experience. Regardless of how i'm improving I am doing it one way or another. If i were to start this business I could see myself becoming completely devoured by it. I would want to make it the best service possible and do everything in my power to achieve this.

2) What are you offering to customers? 

What i am offering for customers is a way to past airline travel time down by the old but efficient way of reading books/magazines. My service follows the same system of RedBox where you would rent a book for a specific amount of time and then return the book/magazine once you are done with the use. 

3) Who are you offering it to?

I am offering this product to basically anyone who likes to read books/magazines and finds this a suitable and effective way to past the time while traveling. The people in my target segment don't have the best understanding of technology and because of this uses old fashion way to past the time (by reading). These people have the same passion of mine and want to improve everyday and they could accomplish this by learning more through what they read. 

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. 

People will actually pay money to use this service for many reasons. But two of the most important would be because people actually enjoy reading and would prefer to read a physical copy of something in front of them instead of on a phone or any other electronic device. Also, people would choose this method because the pricing for it would be affordable for basically anybody.

5) What are your core competencies? 

What sets this company apart from others is that there is nothing else that even matches this type of service. Kindles are the closest thing to competition for this service but many people do not have kindles and prefer a physical copy to actually read from. 

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. 

Elements

I believe that all of the elements of my business concept do fit together pretty perfectly. I feel that they all have a connection to each other one way or another and all of the aspects are needed from my target market in order for my business to be successful. I feel the one weakness my business faces is the evolution of the advancement of technology. As technology keeps advancing who knows what the world will be like in a few years from now and if my service will even be needed by then.

Feedback

The feedback i received I gathered two main points away from it. The first was to be able to create an actual system of renting/drop-off that would be convenient for both the buyer and seller and allow for both of them to maximize from the service they are receiving. When this becomes implemented it will put the business in the right steps to be successful. Another point from my feedback was to make sure I can efficiently promote my service to people who would actually want to use this service. I need to make it clear who exactly my target market is and I need to make sure I aim to make that as clear and evident as possible. These two points allowed me to really decide and focus who my target market would be and that a business has many more steps that are needed to maximize its potential.