19A: Idea Napkin No. 2
You: My name is Kasey Geddis, I'm 19 years old, and I'm a student at the University of Florida. My talents consist of Women's Lacrosse, Cooking, Baking, and I'm great at Time Management. My aspirations in life do align with my business idea for this class. I aspire to be an entrepreneur and create a business of some kind for myself. Ideally, I'm looking to open a bakery or restaurant, but as for this class, my opportunity is a little more focused to students at the University of Florida. My business idea of bringing BikeShare to UF came about entirely because it's something I'd undoubtedly use in my life. Convenient transportation is something I don't have, and a BikeShare system would help me out in life so much.
What are you offering?: I'm offering the University of Florida and the city of Gainesville a BikeShare service. BikeShare is essentially a system of bikes that can be rented for short periods of time via an application. BikeShare stations are located throughout campuses and cities in their most convenient locations, and they are fairly cheap to rent. Not everyone has access to a source of transportation, especially one that they could use any day and any time, BikeShare allows for this.
Who are you offering it to?: My service on a large scale will be offered to the people within the city of Gainesville, but more specifically, those who don't own a car, bike or scooter and are looking for a convenient source of transportation. Those who usually walk places or take the bus are great targets, because this provides a faster method to get to locations as well as a method to do things on your own time. BikeShare could also be an opportunity for people who are looking for exercise, or just a relaxing bike ride to wind down after a long day.
Why do they care?: Customers would actually pay money for my product, specifically for the convenience and "cheapness" of it. BikeShare stations would be located all over the city, and if you ever needed to get somewhere in a hurry, a bike would be available for you. Renting a bike is also calculated by the time you're on it, when scanning in and out of the bike with the application, and renting per hour would be extremely cheap.
What are your core competencies?: There is no other form of rental transportation in the city of Gainesville. People can purchase cars, bikes or scooters for life, but with these comes the possibility of maintenance issues, parking tickets, your transportation source being stolen. People also have the option of taking the bus, but the bus doesn't always run when you need it and it's not always picking up or dropping off at your desired location.
Elements Fit: After a second evaluation of my idea napkin, with some help of peer reviews, I without a doubt believe that these elements fit together. In my first idea napkin, I wasn't sure if the "you" aspect fit with the rest of the elements, but after doing multiple assignments and gaining a deeper understanding of my own product, I think the "you" is one of the most essential elements of my idea. I am one of my own target customers. I am someone who needs and wants convenient and cheap transportation.
Feedback:
I received some really great feedback from my first idea napkin and was able to incorporate it into my second idea napkin to make it even stronger. Although this wasn't a point I could necessarily incorporate into one of the elements of the idea napkin, Angelo brought up a very interesting point that once my idea becomes very popular, we could potentially run out of bikes, making the bike to student ratio not compatible. Maybe I could turn this into a core competency, making sure my product has way more bikes than any other bike station could ever have. Nicolas also brought up a really good point, stating that people may try and copy my idea. This again, would hopefully be solved within the core competencies category, but mainly, I think this could be solved with a negotiation between the campus and my bikeshare service. I'm honestly not even sure how it would be possible, but IF possible, maybe I could convince UF my BikeShare service is the best, and to only allow my BikeShare service on campus. Overall, my peer reviews were great, and very helpful, overall helping me change my core competency element a little.
What are you offering?: I'm offering the University of Florida and the city of Gainesville a BikeShare service. BikeShare is essentially a system of bikes that can be rented for short periods of time via an application. BikeShare stations are located throughout campuses and cities in their most convenient locations, and they are fairly cheap to rent. Not everyone has access to a source of transportation, especially one that they could use any day and any time, BikeShare allows for this.
Who are you offering it to?: My service on a large scale will be offered to the people within the city of Gainesville, but more specifically, those who don't own a car, bike or scooter and are looking for a convenient source of transportation. Those who usually walk places or take the bus are great targets, because this provides a faster method to get to locations as well as a method to do things on your own time. BikeShare could also be an opportunity for people who are looking for exercise, or just a relaxing bike ride to wind down after a long day.
Why do they care?: Customers would actually pay money for my product, specifically for the convenience and "cheapness" of it. BikeShare stations would be located all over the city, and if you ever needed to get somewhere in a hurry, a bike would be available for you. Renting a bike is also calculated by the time you're on it, when scanning in and out of the bike with the application, and renting per hour would be extremely cheap.
What are your core competencies?: There is no other form of rental transportation in the city of Gainesville. People can purchase cars, bikes or scooters for life, but with these comes the possibility of maintenance issues, parking tickets, your transportation source being stolen. People also have the option of taking the bus, but the bus doesn't always run when you need it and it's not always picking up or dropping off at your desired location.
Elements Fit: After a second evaluation of my idea napkin, with some help of peer reviews, I without a doubt believe that these elements fit together. In my first idea napkin, I wasn't sure if the "you" aspect fit with the rest of the elements, but after doing multiple assignments and gaining a deeper understanding of my own product, I think the "you" is one of the most essential elements of my idea. I am one of my own target customers. I am someone who needs and wants convenient and cheap transportation.
Feedback:
I received some really great feedback from my first idea napkin and was able to incorporate it into my second idea napkin to make it even stronger. Although this wasn't a point I could necessarily incorporate into one of the elements of the idea napkin, Angelo brought up a very interesting point that once my idea becomes very popular, we could potentially run out of bikes, making the bike to student ratio not compatible. Maybe I could turn this into a core competency, making sure my product has way more bikes than any other bike station could ever have. Nicolas also brought up a really good point, stating that people may try and copy my idea. This again, would hopefully be solved within the core competencies category, but mainly, I think this could be solved with a negotiation between the campus and my bikeshare service. I'm honestly not even sure how it would be possible, but IF possible, maybe I could convince UF my BikeShare service is the best, and to only allow my BikeShare service on campus. Overall, my peer reviews were great, and very helpful, overall helping me change my core competency element a little.
Hello again Kasey! I hope your week is going great. I can see that you improved a lot since the last idea napkin. You added important points into this second idea napkin that will help you develop even more your business opportunity. I'm glad a I could help you by giving you feedback that you found helpful on the past assignment. Although I think you are doing just fine by yourself. Great work again!
ReplyDeleteHi Kasey - I hope your week is going well. I thought you did a really great job on this assignment. I definitely think you have improved since your last idea napkin. I really liked the additional ideas and changes that you have made - it makes the business opportunity even more developed than it was before. UF will definitely think it is the best bike share! Good luck with your idea and great job!
ReplyDeleteKasey, great evaluation you have made about your idea napkin. I think the reflection you have done will make your business idea even more unique and even more convenient. I am sure that the University of Florida will allow you to have your BikeShare all over campus if you give them a little tiny part of the revenue that your service would generate.
ReplyDeleteHey Kasey, I like that you considered Angelo's advice on when you become a popular business. That got me thinking about maintenance on your inventory. If you ever grow in size, I would like to hear your input on what you would do for maintenance? Things I can think of right now would be having excess inventory to where you can replace a broken bike with a new one, and begin repairing the broken one at a fixed location. I would still like to hear your input!
ReplyDelete