Idea Napkin No. 2

1. You: I am pursuing a major in English and a minor in Innovation and these two degrees strengthen and help nurture my entrepreneurial side. My skills involve writing, writing under a deadline, pursuing research and sources for articles, and experience in committing to a long-term cause. With my business, I see it as a way to help me grow in my leadership skills and capabilities of managing a business well.

2. What are you offering to customers: I would like to offer them free/rentable chargers. The library is a hotspot for many students enrolled in college. However, there are limited places for a student to charge their devices. With a system that rents out chargers or offers wireless chargers that can charge computers and phones, my customers will have greater access to their overall studying, which in turn will increase their success in college.The service will take into account the amount of students who bring their chargers to studying in general and be able to offer chargers with little chance of running out. 

3. Who are you offering it to: My demographic will be college students, but my service can also extend outside my targeted demographic. Anyone enrolled in college is given access in obtaining a traditional charger or wireless charger for their own personal studying while at the library. The service will also take into account the fact that students own different types of laptops, so different chargers will be offered for the majority of different computer brands and labels. My student-customers have in common their desire to study and succeed in their classes.

4. Why do they care: My product will be a solution for a large problem that affects students everywhere. One reviewer noted that I will have little to no operating costs, so I can also gain much financial benefit with the service. Students will not have to cough up large amounts of money to pay for the service either, so money will be a small issue for students intent on studying in the library. With my product and overall service, my customers will worry about one less thing and can devote their time to earning good grades.

5. What are your core competencies: What sets me apart from everyone else is that I have gone through the same problem. I needed to leave the library early once because there were no open plugs for my charger. What I have that nobody else has is patience, and a lot of it. Building a business from the ground up requires delayed gratification and going step by step through the setting up of a business in order to succeed well in entrepreneurship.

* Five Core Elements: With the feedback I received in Idea Napkin 1, I believe my 5 elements coincide together well. The feedback pointed out certain weak spots in my previous assignment, like clarifying whether I am using wired and/or wireless chargers (I am using both). It also pointed out the benefit of having little operating cost and likely starting out financially well, which can lead to other colleges and libraries adopting my service into their respective services. Thanks to the feedback I received before, my elements work together more smoothly together. 

* Feedback Memo: The truth is, I only received a small amount of feedback in my previous assignment. The first is clarification on whether I am using both wired and wireless chargers for the service. I was also told about the benefit of low operating cost in my business. I must also take into account the different types of laptops and devices available for studying so I can properly provide the right chargers for each individual student in the library.  I incorporated the feedback that I received by linking them into my answers throughout this post. I mentioned the good areas of my service and the areas of improvement as pointed out by my classmates.