Assignment 11A - Idea Napkin No. 1 - Darren Liebegott

Assignment 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?

My name is Darren Liebegott, and I am a student at the University of Florida. My major is General Business, and I am working towards a career in operations management and finance. I have worked in construction management and also operations management and I feel that this has given me good insight into the way businesses operate from the ground up. The business concept that I have developed is to create a service that will intermediate between customer and cellular, cable, and internet provider to find the best price and types of services for the customer. I see this business concept as a way that I can help others while also creating a viable business plan that can help to create increased financial security in the years to come.

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

The service that I am offering to customers will provide them with savings on their cellular, internet, and/or cable bills while giving them the peace of mind to not have to go through the negotiation process with these large service providers. My service will essentially handle everything between the customer and service provider while finding the absolute best service and price for the customer's unique situation. The truth is, there are many different ways to optimize your services to get the best quality at the best value price. These service providers would rather tier customers into only a few packages that end up costing the customer much more, or forcing them to sacrifice much needed services. This service will bridge the gap between customer and provider, fostering stronger business relationships and helping to more efficiently distribute services.

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?

This service will be specifically marketed to those individuals that have specific needs from their services, but for whatever reason feel they are paying too much for their services. Many middle-class families and small-businesses fit the demographic market that I intend to advertise this service to. With the cost of daily living steadily increasing, it is important to save where possible and truly get the most out of the services that you pay for. This service will help to increase discretionary income for families, and improve the revenue of small businesses. Once the true effect of the service kicks in, there should also be an improvement to the local economies that employ this service.

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. 

I have conversed with many individuals that are simply unhappy with their service providers. I have also personally had experiences that have left me less than satisfied with the service that I was receiving versus the cost for the particular services. One of the major issues that I plan to handle via this service is the issue of existing customers having their service costs regularly raised, and being forced to switch providers as a "new customer" to get a decent rate. This is an issue that needs to be addressed, and one that I am adamant about finding a solution to.

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

Some of the core competencies that I have are that I have a good attention to detail when taking on these types of business issues. Many providers will give a blanket response to customers to deter them from asking the "right" questions. When speaking on a customer's behalf, I will give a relentless effort to find the correct compromise between the customer and provider. I also have a strong belief in the need for this service, and the work ethic that I believe will be necessary to make it successful. 

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. 

In regards to the five elements previously discussed, I feel that the service that I am offering to customers fits well with the types of reviews that I have heard from interviewing potential customers. What I am offering seems to be a service that can potentially help the lives of people who struggle to afford the types of services that they need to be successful, or who are simply trying to budget their expenses more efficiently. Of the five elements, the one that is most disjointed would be my experience to date. There will be a learning curve in the beginning with respect to website creation and advertising, and these are skills that I must improve upon to realize the greatest return on the business. Otherwise, I see a cause that I can stand behind and feel that I have the work ethic and drive to make this business model successful.