The Five Important Elements of my Business Concept:
1) Me: I'm a friendly person who enjoys working hard. I have always had an interest in business, ever since I joined the Future Business Leaders of America (FBLA) organization in high school- in which I won first in States and placed in Nationals for Business Presentation. From this I learned how to make an effective yet entertaining presentation. On another hand, I've been dancing for 14 years now, so my dance-involved business idea truly resonates with me. It would play a huge roll in my life; it would combine my passion of dance with my interest in business.
2) What I'm offering: I'm offering appropriately sized patches of either canvas or leather material, but not just any regular canvas or leather. My patches of material would be so high in quality and durability that they would not tear. I would make this possible by increasing the thread count and making the material twice as thick. We would also do personalized orders for customers who need a different type of material/ if they needed it to be for a specific type of dance floor (e.g. wood floors vs. spring floors). Furthermore, my patches would come with a very strong glue, in which you just peel and adhere to the hole in your dance shoe.
3) Who I'm offering to: This product is designed for people of all age who dance- whether they are beginning babies or older instructors. Of course, some styles of dance (like contemporary and lyrical) don't necessarily call for shoes, so this is more geared specifically to people who do ballet, pointe, jazz or tap. What all of my customers have in common is that they dance and that they own their respective dance shoes.
4) Why they care: People would purchase my product because it's the easiest, cheapest, and quickest alternative for shoe repair. Of course, someone could go buy new shoes, but that could cost upwards of $200. From personal experience, if my shoes are brand new and I get a hole, I am definitely not going to invest in a whole new pair- and a lot of my friends who I have danced with said the same thing! So, it's easy to see how dancers would be interested in my idea
5) Core competencies: What sets me apart from everyone else is that there is not a company currently doing this. There are patches on some dance websites, but they are only for attaching to your existing shoe to make it the best fit for the type of floor you use. My patches would be designed specifically for holes and also to fit the floor; not to mention that they will be so incredibly durable customers will be begging for more.
I believe that all of my elements fit together- except for my adhering idea. I say "a very strong and durable glue", but I'm not entirely sure exactly what kind of glue would be used. Normal super glue may destroy the material, and I'm not too sure what other kinds of strong glue exist. This part of my idea is weaker than the other components just because I'm not very knowledgable in the field of glue.
However, once I figure out this bump, I think that my product and company could be very successful!
Cassidy,
ReplyDeleteYou have a very clear and concise delivery on your idea napkin blog. I have to admit, it was one of the more easy to read, "cleaner" written ones thus far.
Your ideas on the patch sound interesting, I assume that you come from a dance background as you mentioned instructors in your pitch? I would have never thought of a product like this and while I may not necessarily have a use for it, I assume your background allows you to think otherwise.
Great blog! You can check mine out at: http://nicoleslifeatuf.blogspot.com/2016/02/idea-napkin-no-1.html
Regards,
Nicole
Cassidy,
ReplyDeleteI think that your idea is so smart and innovative! I love the close connection that you have with it, as that will make it so much easier for you to present your idea in a passionate and compelling manner, which you did here. I don't have any knowledge of dance, but I can only imagine the frustration of getting a hole in a new pair of expensive shoes. It sounds like you would certainly have the clientele to sustain this product.
If you would like to check out my idea napkin as well, here is the link: http://marissaent3003.blogspot.com/2016/02/idea-napkin-no-1-2-bus-y-4-u.html
Good luck!
Marissa
I think it is so great that you're taking something that was very personal to you and making an opportunity out of it for people with the same interests. I was never a dancer, but I could see this idea going beyond dance and into other sports (while volleyball knee pads certainly aren't $200, it is annoying to have to buy another pair whenever one catches a hole, or creating a floor specific patch for basketball shoes that have lost their grip.) I like that you were honest about the adhesive aspect. I would suggest something similar to a 3M patch? Or E6000 is a strong glue. Again, no experience in dancing, but I've done a few crafts in my day that needed glue. I would love to hear your insights into my idea. http://stent3003.blogspot.com/2016/02/idea-napkin-no-1.html
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ReplyDeleteCassidy, I like your idea and I believe your idea will do very well the fact that you are incorporating your passion of dance and business will give you an unique perspective on what the design concepts should be as well as the business aspect of getting your product to market.
again great job and allthe best on your project