11A - Idea Napkin No. 1
11A – Idea Napkin No. 1
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?
Hi! My name is Elizabeth (Liz) Fullwood. I am an Army military spouse and stationed at Landstuhl, Germany. I currently attend my dream school, the University of Florida, Warrington College of Business, where I am pursuing my Bachelors of Arts in Business Administration. I’m told that I have a talent for party planning, interior decorating and organization. I have a huge caring heart that can be both a pro and con as I’ve discovered throughout time. I love traveling and I thank my husband every day for serving our country, the United States of America, and providing us the experiences that so many people never have an opportunity to pursue. I had my children at a very young age and for the last 19 years, I’ve followed my hubby all over the world; Now, I aspire to achieve my personal goal of focusing on me and completing my degree at a school that my Daddy graduated from. Regarding my business concept, if I started the business, I believe it would play a huge role in my life. It would be great timing, as my husband is creeping up on retirement. I believe that I would be forming a niche in the market space and it sounds challenging – I like a challenge.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
My business would solve the unmet need of Sleep Apnea customers by providing a service that would go directly to their neighborhoods. We would clean their masks & hoses for them, alleviating them of the burden. We have several packages to choose from that are convenient and cost efficient.
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 offer our service to any one with Sleep Apnea that uses CPAP therapy. I would target the CPAP users that want clean masks, want to save time, feel that it’s a nuisance to clean the masks and physically clean the masks themselves. There is also a market for the caregivers that clean the masks for the CPAP user, i.e. spouses, family members or nurses. My customers would include both male and female and most likely target ages 45 and up. The age demographic plays a crucial role in who I should target. The location would most likely be in the town where my husband retires; I would then spread throughout the state. Psychographic traits of my target customers include busy lifestyles, value hygiene, and are convenience-oriented.
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.
My solution is valuable to customers because it frees up time out of their schedules that they feel is wasted time. They are assured that their masks and hoses are clean and free of oils, dirt and germs, which provides peace of mind when they lie down at night.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
My core competencies include risk management and assessment, project management, creative and analytical thinking and persuasive communication. What sets me apart from everyone else is that I have work experience serving CPAP users at a Sleep Clinic under four providers. I understand the needs and frustrations that CPAP users face and have an interpersonal awareness. Currently the only machines on the market, are ones that are very expensive, and only disinfect the masks and hoses. They do not remove the oils or built up dirt from the masks, as my service will. The full cleaning experience is what I have for my competitive advantage, along with a smile.
In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
I believe that my elements fit together smoothly. Society as a whole, has become extremely busy and often find themselves setting their personal needs aside. My service relieves the stress of cleaning CPAP masks and hoses, while adding convenience and the reassurance of positive hygiene for CPAP users.
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?
Hi! My name is Elizabeth (Liz) Fullwood. I am an Army military spouse and stationed at Landstuhl, Germany. I currently attend my dream school, the University of Florida, Warrington College of Business, where I am pursuing my Bachelors of Arts in Business Administration. I’m told that I have a talent for party planning, interior decorating and organization. I have a huge caring heart that can be both a pro and con as I’ve discovered throughout time. I love traveling and I thank my husband every day for serving our country, the United States of America, and providing us the experiences that so many people never have an opportunity to pursue. I had my children at a very young age and for the last 19 years, I’ve followed my hubby all over the world; Now, I aspire to achieve my personal goal of focusing on me and completing my degree at a school that my Daddy graduated from. Regarding my business concept, if I started the business, I believe it would play a huge role in my life. It would be great timing, as my husband is creeping up on retirement. I believe that I would be forming a niche in the market space and it sounds challenging – I like a challenge.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).
My business would solve the unmet need of Sleep Apnea customers by providing a service that would go directly to their neighborhoods. We would clean their masks & hoses for them, alleviating them of the burden. We have several packages to choose from that are convenient and cost efficient.
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 offer our service to any one with Sleep Apnea that uses CPAP therapy. I would target the CPAP users that want clean masks, want to save time, feel that it’s a nuisance to clean the masks and physically clean the masks themselves. There is also a market for the caregivers that clean the masks for the CPAP user, i.e. spouses, family members or nurses. My customers would include both male and female and most likely target ages 45 and up. The age demographic plays a crucial role in who I should target. The location would most likely be in the town where my husband retires; I would then spread throughout the state. Psychographic traits of my target customers include busy lifestyles, value hygiene, and are convenience-oriented.
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.
My solution is valuable to customers because it frees up time out of their schedules that they feel is wasted time. They are assured that their masks and hoses are clean and free of oils, dirt and germs, which provides peace of mind when they lie down at night.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
My core competencies include risk management and assessment, project management, creative and analytical thinking and persuasive communication. What sets me apart from everyone else is that I have work experience serving CPAP users at a Sleep Clinic under four providers. I understand the needs and frustrations that CPAP users face and have an interpersonal awareness. Currently the only machines on the market, are ones that are very expensive, and only disinfect the masks and hoses. They do not remove the oils or built up dirt from the masks, as my service will. The full cleaning experience is what I have for my competitive advantage, along with a smile.
In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.
I believe that my elements fit together smoothly. Society as a whole, has become extremely busy and often find themselves setting their personal needs aside. My service relieves the stress of cleaning CPAP masks and hoses, while adding convenience and the reassurance of positive hygiene for CPAP users.
Hey Liz,
ReplyDeleteOnce again great post. It was interesting to get a deeper glimpse into your personal life because just based on reading your blogs, I can tell you are some one who values your education as well as putting all of your effort into it. This post only illuminated that further, as I am sure you are great with your family and I respect any military family considering I have military in mine as well. For this reason, I can see any business venture you plan on pursuing to have a good shot, simply because your attitude and work ethic would help it come a long way. I still believe you are on the right track with this venture, and I am curious to see where it goes!
Hey Liz,
ReplyDeleteI am always happy by the detail you put in. Since you are older than us i can see that you can take this very serious and it really can be something you run with. I am very impressed that you worked at a sleep clinic. This type of expertise is what will get you off the ground running. I also liked how you are thinking realistically by starting small and working big, but not too big just yet. Excited for your other posts.
Hey Liz.
ReplyDeleteThe opportunity you have chosen is one that affects millions of people. In colleges alone, this issue is experienced by many students who cant sleep. I agree with your overall attitude, and the importance you give to this issue. I also feel that you are very informed on this matter and there are several potential customers or clients that could really use a product like yours,