11A – Idea Napkin No. 1

1. You: I have previously worked as a "salesman"; I ran my own online eBay store and found things that suited customer tastes. I could see this venture being a startup which I eventually sell off to a larger dealer. I don't have the money nor skills to turn this into a giant operation, so I would sell it at a great profit to myself. I could see this being a side business, not really something that would turn into my life.

2. What are you offering to your customers: I am offering a cheap, lightweight, stylish helmet, which will become a trend and increase the safety-consciousness of the Gainesville community.

3. Who are you offering it to: My customers are 18-22 year old scooter owners who don't own helmets because they are afraid they will look uncool. This could also apply to bike owners who want to follow the trend as well.

4. Why do they care: Scooter owners don't not care about their safety, they just are cheap and want to look cool. I believe that if I can market this helmet as a inexpensive and trendy fashion item which keeps people safe as well.

5. What are your core competencies: As a student, I believe I have a distinct advantage because I can get a feel for what my fellow students really want. If someone were to try to make a trendy helmet without knowing the trends, they would fail. In the same way, I can use the trends I see to create a great product.


I do believe that the cogs of my gear that is this operation are all spinning in the correct directions. I think that my advantage as a student keeps me closer to the pulse of the Gator nation and allows me to identify trends which outsiders would not know about. My only concern would be making the helmet more lightweight, while still being able to fit the requirements for calling it a helmet as well as the liability that comes with my helmet not performing. If I can get the engineering worked out, I think the business model will fall into place.

Comments

  1. Abby TuckerFebruary 19, 2020 at 4:44 PM

    This comment has been removed by the author.

    ReplyDelete
    Replies
    1. Abby TuckerFebruary 19, 2020 at 4:45 PM

      Hi Michael!
      I think it's smart that you have a specific target market that you plan to sell your helmets to, and I agree that you are in a good position to roll this out now that you are a student, too. I think you're correct that the actual lightweight design of the helmet may be challenging, especially considering you may not have the engineering expertise required

      Delete
  2. HallieFebruary 21, 2020 at 1:17 PM

    Wow Mike, you got a lot of qualifications. I love the part where we get to butter our own biscuit. I do like the demographic you've chosen because it is obvious that you've done your research. It's a great design and I think you could definitely push it to be more and more unique to stand out from other designs for helmets.

    ReplyDelete
  3. Sophie BeaudFebruary 22, 2020 at 12:10 PM

    Michael,
    I definitely feel like your business idea is great for a segment like UF students. This is a specific market in which almost half the student population owns a scooter and safety is a major concern. My father got into an accident on a scooter and wasn't wearing a helmet which could've helped in in the long run. I think a lot of students fail to wear a helmet because they think its lame or don't want to carry it around. Your idea of a lightweight helmet could definitely succeed.

    ReplyDelete
  4. Darren LiebegottFebruary 22, 2020 at 12:18 PM

    Hi Michael,
    I like that you have a realistic perspective for your business idea. If marketed properly, and if endorsed by some key people, I could see this business being successful. You would need to establish the trend for these helmets, and that is one of your biggest challenges. Also, I think finding the right brand name will play a major role in the amount of revenue that you can generate. If you could get the university to endorse your product and come up with a name and motto that were synonymous with the Gator Nation, that would most definitely help to set you apart from other helmet manufacturers. Good work, Darren.

    ReplyDelete
  5. AnonymousFebruary 23, 2020 at 5:10 PM

    Hi Michael,
    I think previously working as a salesperson that suited to consumers tastes will help take your opportunity further. It is good that you know you don't want this as a real job, rather as a hobby or side job. Also, I think segmenting your product to a specific age of customers will benefit you and bring more profit. Overall, great work and hope you continue to develop your idea further.

    ReplyDelete

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