11A – Idea Napkin No. 1


  1. You
    1. I love fashion and I believe I have the ability to see how things fit together really well whether it's jewelry or clothing items.  I also love buying gifts for people personalized to what they love and I'm pretty good at picking things out that other people will like.  My aspirations are to graduate UF with different internship experiences to hopefully work in the Health Administration field or the IT field.  If I were to start my business, I feel like I would love doing it because I love making other people happy so I would see my business as a win-win for myself and the customer
  2. What are you offering to customers?
    1. I am offering the customer a fashionable bracelet that they can personalize with things like their school, birthstone, initials or sorority symbol.  This bracelet has a specific clip to hold their key for when they are on the go and want to have their key secure and easy in reach, but not on something like a ponytail on their wrist.
  3. Who are you offering it to?
    1. I am offering this product to college students nationwide.  I see my target market as primarily female, and economically fortunate enough to be able to fulfill their want to buy jewelry but also satisfy the need of having their key safe on their wrist.  I think girls in sororities would buy this product a lot more than other college students.  I can see myself offering a men's line to also cater to males, but for now-I have made products that I think only females would want to buy.
  4. Why do they care?
    1. The customer will want to buy this product because most college aged girls and women in general like buying jewelry and customizing what they own and wear to show what they love and want to represent.  A lot of people lose their keys in college especially when going out or being on the go from class to class.  Students will put their key on a ponytail on their wrist so it doesn't get lost, but this can ruin a good outfit!  So the bracelet not only allows your key to be safe and secure, but also fashionable.
  5. What are you core competencies?
    1. First, I have been looking/needing a bracelet like this for years.  It wasn't until this class I thought, well let's try to actually make it!  A bracelet with all of the features I have described cannot be found on the market currently.  I believe my ability to create and personalize things that people love will set me apart from other businesses and products.

Comments

  1. UnknownOctober 5, 2018 at 10:24 AM

    Sydney,

    Another very thoughtful post! These are some great insights, and your self-reflections seem very thoughtful. I love your entry in the "core competencies" section - you clearly understand this need well enough to identify what sets it apart from all the other alternatives. I also enjoyed reading in the "You" section about your goals and ambitions; IT and Health Administration are both excellent fields to pursue. Good luck with your internships!

    Zach

    ReplyDelete
  2. UnknownOctober 8, 2018 at 5:15 PM

    Hi Sydney,

    I liked getting to know about you in the “You” section of your post. You explained the buyer’s market, core competencies, and why consumers care very well. I think this will allow you to have an advantage over your competitors. I am also thinking of working in the IT field. I think a lot of college will relate to needing a more efficient way of carrying their keys. Nice post.

    Regards,
    Ramar

    ReplyDelete
  3. Emily HusakOctober 8, 2018 at 9:07 PM

    Hi Sydney,
    You did a nice job mapping out these five important areas. Your "You" section explains your eye for personalized fashion for yourself, as well as personalizing gifts for other people. You've explained what you're offering and the need that it fills--a functional, attractive, personalized bracelet that is also a key holder. You've accurately identified your market as all college students, and why they would care about having a product like this. I've noticed that almost all of my friends do not want to carry a purse when they go out socially. We all have the "card holders" on our phones, for IDs, credit cards, and paper money. This bracelet fits right in with this lifestyle as well. It's a convenient, fashionable way to carry their room key. I still think a "male version" of this product could be a more fashionable hook type piece that loops around a guys belt loop. Good idea. Nice Post. Best, Emily

    ReplyDelete

Post a Comment

Popular posts from this blog

30A – Final Reflection

Image
I remember doing my elevator pitch for the first time and having no idea what to say and it took me over 20 times to get it remotely okay for me to post.  Now, I do my elevator pitch to my friends involved in business for fun and have it memorized so easily.  I remember doing the bug list and having a somewhat difficult time thinking of all of them. I think my elevator pitch videos were the most formative experience because it taught me how to speak properly in a business setting and how to condense the most important details I needed.  I think this made me a better public speaker even though I was speaking by myself in front of a camera.  I'll remember this for years.  I also enjoyed interviewing my friends to see what they thought of me and what my "secret sauce was." I see myself as an entrepreneur because of my mindset, not that I necessarily have a business yet.  I pay more attention to problems or "bugs" as we called it every day.  I am constan...
Read more

28A – Your Exit Strategy

I personally do not like the thought of selling my business or getting out of it once working so hard in it, but I know it is sometimes a necessary step (we are learning more about this in class Monday).  So if I were to pick an exit strategy for my business, I think I would stay in for the long run and retire and pass it down to someone in my family or someone I trusted.  On the other hand, if the offer was large enough, I think I would sell my company.  I would only consider doing so if I thought the company would continue moving in a positive direction.  I picked this strategy because I care a lot about the business and do not want to see my years of hard work (if I were to work in it for years to come) go to waste.  I think my passion for my company shows in my exit strategy and my business plan.  On the other hand, I did not consider my exit plan before this assignment so it did not influence anything before this that I have wrote about.  I don’t ...
Read more

27A – Reading Reflection No. 3

1) Coco Chanel, Lisa Chaney What surprised me most about Coco Chanel was how she started.  She has a tough beginning and childhood but now she is an iconic designer.  I actually am wearing Chanel perfume right now and I would love to own a Chanel bag one day. I most admired that she came from practically nothing and now her net worth is over $100 million.  This shows her bravery and that people should have almost no excuses. I think Coco Chanel depended her life on money, instead of love.  Yes, she was successful and this is something a lot of people do, but I wonder what it would've been like if she was passionate about people and love instead. I believe every entrepreneur starting, maintaining and growing their own business is a hardship.  She was going against standard being a successful business women and her business ventures were diverse and not easy markets to tackle. 2) I noticed the entrepreneur displayed determination and perseverance. 3) I...
Read more