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19A – Idea Napkin No. 2

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1) You.-
I think that one of my biggest attributes is my passion and determination to accomplish the goals that I set my mind to.  I am a very driven person and will find ways to overcome the obstacles that I face. If I were to start this business in real life, I think that I would be able to effectively draw in the skills that I learned from my classes as well as organizations such as the Florida Leadership Academy.  With that being said, I would recruit help from professionals in the industry that can help me get the business started and analyze initial analytics.
2) What are you offering to customers? 
I am offering a way for people to have customization breakfast food throughout the day and night.  The restaurant will have a fun atmosphere that people can enjoy all meals at while hanging with friends and family.
3) Who are you offering it to? 
I am offering this restaurant mainly to college students in the Gainesville area that have extra spending money and enjoy breakfast food.  Also, my target market includes people in their early 20s that like going out or studying late since a big push for the business will be in the late hours of the night due to the fact that most other breakfast places will be closed at that time. 
4) Why do they care? 
I believe that my solution is valuable because there is not currently a breakfast place that is set up lie restaurants such as Chipotle and Grill Fresh and people enjoy this type of food beyond the typical morning hours. A big thing in modern times is customization and instant gratification and I feel that this concept represents both of these qualities.  Additionally, customers will want to pay for our meal options because they can get exactly what they want within a short amount of time and do not have to sit at a restaurant and pay tip unlike somewhere such as Ihop.
5) What are your core competencies? 
I think that the most unique part of "Stacked" is that there is not currently another "make your own breakfast platter" place in Gainesville and college students would certainly appreciate an opportunity like this.   The business will be run by college students for college students which will create a more relatable and fun atmosphere, especially during the late hours of the night.

Overall, I feel like these five elements fit well together and I can really see this restaurant succeeding in Downtown Gainesville.  I have found that college students love brunch as well as cheap late nigh snacks and am confident that this idea combines both of these activities in an effective manner.  I would like to work harder on how I will market this restaurant as a fun and quick place to get customized meals because I understand that this is the way that I will be able to draw the college students in.  One of my best outlets will definitely be social media and getting tagged in accounts with a lot of followers to stimulate conversation about the place.

Feedback memo:
  • I was able to incorporate the feedback that I needed to be more specific with who I was targeting.  I think that this aspect was much easier for this assignment especially after working on my avatar.
  • I made sure to focus on a more concise but impactful explanation of my core competencies to emphasize that the place would be run by college students, for college students because I feel that this is a point that will be strong for marketing purposes.

Comments

  1. UnknownNovember 5, 2018 at 7:21 AM

    Hey Emily,
    You seem very confident in your business idea. You did a great job on your second napkin idea. I also agree with you that after doing the avatar assignment, it was way easier to define your target audience. I felt the same way and tweaked my target audience in my second napkin idea. Overall, you improved what you needed on your napkin so good work.

    ReplyDelete
  2. UnknownNovember 5, 2018 at 7:27 AM

    Hi!
    Revising this assignment helped me review my idea and gain a better understanding of my original plan. It seems as though you took advantage of the feedback you received and used it to improve your Idea Napkin. Your revised post is thorough and detailed, and your target market is more descriptive. Your point about marketing the fact that your business is "by students for students" is a great idea. Great job with this assignment!

    ReplyDelete
  3. UnknownNovember 5, 2018 at 12:59 PM

    Emily,
    I thought your post had some great insight! As it pertains to your strengths, you were still willing to contact experts in the field to analyze the market and opportunity. I think this is something that many entrepreneurs fail to do because they want to do everything by themselves. Regarding your target audience, the custom avatar clarified my prototypical customer as well! Comparing your first napkin idea to this assignment, you have made dramatic changes and definitely narrowed down your ideas.

    ReplyDelete

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