19A - Idea Napkin No. 2

19A - Idea Napkin No. 2

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 Zach Wilson. I am a freshman at UF and I'm a Finance major who's not quite sure what they want to pursue. I play 4 instruments, love music, and love working on my car. I know how to use many programs and can work well in groups. My business is my opportunity to be a leader and a role model. Being the oldest sibling, my entire life I have managed to be a good role model to my younger brother. In this same way, I hope to be a role model to the homeless people that I assist.

What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

• I am offering to customers a chance to restart. A chance at the game of life to begin and get back on one's feet. For those in need, they will be granted housing, sanitation, and food in return for labor and volunteer work. These people will get a chance to restart their lives no matter how down and out. As entrepreneurs, we know that one opportunity is a priceless thing, so why not sell that?

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 offering this product to people who cannot afford to live in Key West. Some may have lost to unemployment cycles, or they may have mental health issues that stop them from working. A multitude of reasons can turn a person homeless. However, all/most of them are unemployed, making no income, with no substantial net worth. These people will be given another chance.

•  Also, this product can be sold to local governments of cities who also would like to help the homeless in their respective locations. The product can be uniquely designed for any city. This project can be funded by legislation, or by donations via a charity.  

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. 

• I'd like to think that homeless people in desperate need would want to be helped and would feel obliged to do the volunteer work as an incentive for living in the housing. However, if they would not like to comply then someone else can take that opportunity to be helped. Considering that the homeless people do not pay for this product, someone else is. Hopefully, the taxpayer's dollar will be used to fund this program, or someone feeling rather philanthropic will assist in the matter. Again, this project will by no means be a cheap one, it's simply an act of grace rather than a profit driven firm.

What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

• My core competencies consist of giving the homeless people housing, whilst giving them a more unique/personal experience when they live in an individual home rather than a giant facility. Furthermore, the homeless can personalize and decorate their houses to individuate themselves even more. This small change will help readjust them to society knowing they have some kind of home. Rather than this being a bland government program, it will be a passion-driven experience in pursuit of bringing people a better life.

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 in concept my business is a good, wholehearted idea. However, when looking at the expenses, it is a costly feat. My parents have run an appraisal company in Key West for the last 20+ years, when I told them my plan they said it was "ultimately unfeasible in Key West." Due to the high costs of land, materials, service, etc, this project would need a philanthropic Venture Capitalist to take off with no real hope for getting one's money back.

Feedback Memo: 

1. In this section, I talked about what makes me unique, through my passions and strengths. Having many interests and talents, I always feel confident when tackling something new.
2. I am still offering it the same people, homeless people in need. The idea of selling an opportunity is the motive, and they need it. Also, I added that the public could donate as a form of charity, simply because the return on investment will be low and the firm will need as much subsidized funding, and donations as necessary.
3. Same why, we'd like to hope that the helpless homeless people would want a second chance at life. If they work for the firm, they will have the amenities of living at the firm.
4. Ultimately it's the same product. The product isn't the problem, it's finding the funding.
5. My core competencies are the same. The feedback I received was primarily positive with no room for adjustment.