19A – Idea Napkin No. 2

On your entrepreneurial journey and the path to identify and solve a potentially lucrative business opportunity, feedback is critical. On your first Idea Napkin, you received feedback from your fellow students. In this second effort, I'd like to revise your napkin by taking into consideration the feedback you received.

In this exercise, there are two parts. First, the idea napkin; second, the 'feedback memo.' I explain them below.

For the idea napkin, please describe the following (these are the same elements as in the first idea napkin). However, this time, please adjust your napkin to reflect the feedback you received.:

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?

I am a millennial aged college student and I spend a lot of time on my electronic devices for school work, programming, video games, and social media. My skills are developing software and working with plasma for experimental research. My aspirations are to develop a product that will end dead batteries forever. If I were to start this project, it may help me gain connections to others in industry.

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

The product I am supplying to others is a portable electronic device that ionizes the air particles near where you turn it on and wirelessly charge devices with smaller voltage batteries. This product could be available for smartphones, tablets, and small laptops.

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?

I am offering this product to anyone who indulges in heavy usage of mobile electronic devices that depend on a limited supply of battery. 

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. 

People care about this type of issue because people are almost dependent on their devices batteries life. Most people feel energetic in the morning because there devices are charged  Once their batteries die, they feel less motivated to work. 

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

I believe that I have the ability to produce a need that hasn't truly been addressed in today's world. Our life is completely dependent on power and being able to have your devices charged at all times could be monumental. 

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. 

I feel that my business model could be weak in a sense that people won't want to carry another device around just to charge another device. I believe that adding a product to solve the issue isnt the address, but it may be possible to add this type of technology to an accessory we use everyday like in a backpack, a watch, or in clothing.

For the "feedback memo" -- please summarize at least two main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin. 

One positive feedback that I received was being able to reduce the amount of devices that a person holds around on a daily basis. It was helpful to start and formulate ideas on how to incorporate this device in everyday used items.

A second negative feedback that was addressed with me was that this technology could produce a significant amount of radiation to the user . This concern can be addressed by not standing next to the device for long term use .