Idea Napkin No. 2

Me: 

Who am I? Good question. I'm a first year Finance major from Orlando, FL; I am also pursuing a Spanish minor. I love talking to people and getting to know them, which I believe will help me when I am networking with potential clients, and maintaining positive relations with them. I also am a very organized person, which is extremely important when running a business. After college, I want to go into the finance world, or maybe even corporate law. The experience from running this business has the potential to develop my business-related skills. Specifically regarding to this business, I think it would be easy to run if I set it up correctly, and it could fit nicely alongside a career in business or law. 

What am I offering to customers?

The product that I am proposing is a phone/computer charging cable that has a slinky-like design. (It is also similar to the slinky water hose, just a charging cord instead.) This product will be more durable than the other phone/computer charging cords, meaning it is resistant to fraying, breaking, and being unable to charge. It also will resist tangling, which is a fun added bonus. 

Who am I offering this to? 

EVERYONE (that has a cell phone or computer).

Why do people care?

Because they're nice. Just kidding. This product will change the charging cable game. Everyone knows the struggle of charging cords that lose their elasticity and/or break. This is the solution!

What are my core competencies? 

I have strong communication skills, which will help when I am spreading the word about this new product. I also am a college kid, living in a town full of entrepreneurs who are ready to help and give advice about the process. 

I think that all of these five elements fit well together, and they will aid me in creating a business. Running a business requires actual business skill and interpersonal skills. I am studying business so the more "textbook" skills will come with time, whereas I already have strong interpersonal skills which will be helpful in the onset of my business (though they develop with time, as well.) The hardest part about this business will be spreading the word and creating the product at a low enough price to appeal to consumers. 

Feedback from my previous idea napkin: 

1. My post was extensive and interesting. 

2. My five elements work well together.

3. The area in which I live and my business major will help me in the process of starting a business. 

4. This product will appeal to the millennial generation. 

5. Networking is a very important skill to develop. 

From this feedback, I tried to keep my post as interesting (and extensive) as it was the first time. I am trying to capitalize on my strengths (5 cohesive elements) and take advantage of the resources around me so that I may successfully market my product. I will also work on networking and developing these skills.