1. I am a 2nd year finance student here at UF. I am good at talking to others and getting to the point of a problem. These are useful for this situation as you need to be able to assess a person's needs as someone selling their idea. I have the experience of selling shirts through band in high school where I sold shirts to friends and family. My aspirations for this idea, if it ever happens, would be to do this after I have retired from my career. I intend to work in capital markets which will take up almost all of my time in the first place. Therefore, if this concept were to come about, it would be after I have already retired.
2. I am offering a hydrophobic shirt to customers. This means that the shirt will look as stylish as other brands but will not absorb sweat like other shirts do. Instead, the sweat would slide down the shirt and no longer stick to your person. This frees a customer from the uncomfortably that the average shirt has.
3. The target audience is young adult/teenage men and women who have the ability to purchase their own clothes and live in hotter/humid temperatures. To narrow it even further, college students in Florida. Their motivation comes from their want to avoid having sweat in their clothes and choosing to buy my shirt to accomplish this goal.
4. This group will want my clothing because people will spend money to be more comfortable. On the higher scale, luxury cars are an entire type of car because people will spend money to be comfortable. On the attire level, people will buy shoes that have memory foam shoes over those that do not because memory foam is more comfortable. These examples show that customers would pick my shirt over the average shirt because people will spend more to be comfortable.
5. I am different from other shirts because these shirts do not absorb sweat. I am also different form "breathable" shirts because these shirts do not handle the sweat that accumulates on your back. Additionally, if there is no wind then breathable shirts fail. My shirt does not need anything beyond the material within it.
The biggest problem with these points is that I lack motivation to actually use my idea. Since I do not want to be an entrepreneur, it will most likely never be used. Two things I learned from my feedback is that people really like my idea and would buy my shirt. I also learned that my idea is already structured well since no real changes were suggested. With this, I made minimal changes to my idea napkin to preserve the essence of my idea napkin.
David,
ReplyDeleteI think you did a really good job on this assignment, the collection of information about yourself and the customers for your product give a great look into your business idea. I believe you made several improvements that benefited your overall grasp on your product and its audience. Like you, I actually don't necessarily want to be an entrepreneur and struggle in some ways with how I may not apply these lessons.