Venture Concept No. 2
Venture Concept No. 2
Opportunity
- The opportunity or the forces that drove me to creating this business opportunity was the fact that it is a need I experience personally, therefore I first-hand wanted to see an implementation done
- The target market for the addition of booths to Library West would be students who choose this Library as their preferred place of study
- The ideal customers are currently satisfying their need by using the products that are available to them right now, even though the selection is very limited thus sparking this need as well
- I believe this opportunity almost presented itself to me and many students would be pleased to find this implementation being done
- I believe the window of opportunity will always be available until someone comes in and does something about it
Innovation
- Although one of the products, the main booth itself, it not an innovation, I plan on making a different version of it as well and adding more unique features to the product thus making it my own
- I want to create a single-seater booth that incorporates all the features the booth currently has, as well as make additional ones each individual student might find useful
Venture Concept
- Students already complain how much they wait and how big of a distraction it becomes waiting for a booth and I think they would love nothing more than there to be additional ones added to the study area
- I also know students do not like when a single person is sitting in a big booth alone, thus sparking the idea for the single-seater design
- I believe once I could successfully implement this into Library West, I could start adding the booths to libraries all around campus and eventually expanding my business to other university campuses
Feedback Summary
- Although I did not receive much feedback, I know people have expressed to me previously that they believe this business venture could provide great opportunity and enhance more studying from students knowing each time they go to the library they are guaranteed a comfortable place to spend hours studying
- The main change I made to the business venture was the implementation of the idea of the single-seater booths, not just adding the pre-existing booths to the library
Hello Sydney!
ReplyDeleteAs always, thank you for sharing and great job on this!
I enjoyed how you added a specific section focused on innovation as well as a feedback summary. I think I may go back and add a feedback summary to my concept as well now!
If I could give you any recommended additions to your venture concept I think you could enhance it even further by incorporating more images and a little more detail in regards to an action plan on how you would go about implementing these into libraries on campus.
Best,
Caitlyn Torres
Hi Sydney,
ReplyDeleteIt's great to see this venture coming to a conclusion. I think the adjustment of marketing single seater booths is a wise change. This seems to solve the problem of taking away too many quiet spaces that people also prefer and might have hurt this business. I think this venture is a good example of an idea that can be a modification of a previous one. You are not inventing a brand new product, but are looking to see how you can adapt or add onto a previous one. The two recommendations I have are to develop a more specific action plan for how to get these onto campus, addressing the barriers you may face. And secondly, to detail how you will be different from competitors - how will you make it so that the library or university cannot produce as great an adaptation as you are proposing?