19A Idea Napkin No.2
1. You: I am a
student of both business and economics who has spent the last year and a half
fascinated by blockchain technology and cryptocurrency. With two years of
experience working as a digital marketing intern, I have learned a tremendous
amount about what it takes to maintain a content schedule, develop creative
solutions, and produce long-lasting relationships with clients.
2. What are you offering to customers: An organized way to break past the knowledge barrier to understanding how to invest in various cryptocurrencies as well as industry news updates aggregated from the most credible sources available. This information hub will be made available through a low monthly subscription fee that will provide constant online-access.
3. Who are you offering it to: University of Florida student who are interested in computer science and economics, but unsure of how to get started in this field and are not dismayed by the volatility of the cryptocurrency market.
4. Why do they care: Starting with complex jargon and ending with highly complex mathematical & computer science comprehension, understanding blockchain technology is a maze of information that the average person can not quickly solve on their own. Add on top of that the immense amount of unreliable news sources feeding people misinformation and the need for a credible hub is quite clear.
5. What are your core competencies: What sets me apart from other entrepreneurs is my experience and determination. It took me months of research before I entered the market and since then I have continued to hold positions in the market through the strongest of upturns and the bleakest of downturns. I am sure that moving forward with a business in this industry will bring up entirely new obstacles, yet I am confident that I will persevere and do whatever it takes to keep moving forward.
2. What are you offering to customers: An organized way to break past the knowledge barrier to understanding how to invest in various cryptocurrencies as well as industry news updates aggregated from the most credible sources available. This information hub will be made available through a low monthly subscription fee that will provide constant online-access.
3. Who are you offering it to: University of Florida student who are interested in computer science and economics, but unsure of how to get started in this field and are not dismayed by the volatility of the cryptocurrency market.
4. Why do they care: Starting with complex jargon and ending with highly complex mathematical & computer science comprehension, understanding blockchain technology is a maze of information that the average person can not quickly solve on their own. Add on top of that the immense amount of unreliable news sources feeding people misinformation and the need for a credible hub is quite clear.
5. What are your core competencies: What sets me apart from other entrepreneurs is my experience and determination. It took me months of research before I entered the market and since then I have continued to hold positions in the market through the strongest of upturns and the bleakest of downturns. I am sure that moving forward with a business in this industry will bring up entirely new obstacles, yet I am confident that I will persevere and do whatever it takes to keep moving forward.
Outlining all of
these different elements with updated information has organized my belief in the
potential success of this business. There are absolutely people who want to
enter the market, but do not understand how. The segment that is interested in
this will not be deterred by a small monthly fee. With my determination, I will
be able to develop an effective pitch for reaching these individuals. Breaking past
customers’ fear of volatility is still my business model’s greatest threat.
Even though customers are not required to be investing anything, they will
think that they have no need to subscribe to such a service if they are fearful
to enter the market. After extensive interviews into customer buying behavior,
I think that this fear will not be an issue as long as I am targeting the right
customers who understand the reason behind the market volatility.
Unfortunately, not a single student
left feedback on this assignment so I did not have comments to work with.
However, I took the feedback and knowledge that I gained from some of the
recent assignments to update the idea napkin.
1. I have updated what I am offering to customers
by adding in the monthly subscription and online components and updated my core
competencies to expand upon my determination.
2. I have updated the ideal customer through my
work on assignment 18A building out a new profile of interests and background.
Mitchell,
ReplyDeleteThis is very well thought out. I see you made corrections to your idea from comments left on past posts. I try to do this as well. It is very important to make it easier for consumers to understand such a complicated idea. This is well thought out and I enjoyed reading the changes you made.