19A

1. You:  I am a senior that is majoring in Business Administration with an area of specialization in finance, marketing, and economics in agribusiness. I always knew that I wanted to be a businessman since I was little. I was always trying to sell stuff to people and try to convince people of my ideas. One of my talents is my ability to help other people. In the past, I have worked with several non-profit organizations to help people that are seeking humanitarian assistance. I recently worked for an NGO that focused on providing food to homeless people all over the world. I was part of that project and I was in charge of administrative duties like food distribution, data gathering, and inventory management. I also have volunteering experiences at orphanages. I planned fun activities for children and seek donations for companies to get some school supplies for them. One of my major aspirations is to manufacture car parts. This is because in my home country labor cost is very cheap and supplies can be easy to get.I also have some friends that major mechanical engineers. It is a very realistic aspiration. Regarding my business concept, it will play a huge role in my life. Starting a telecommunications company from the start can be very exhausting. It requires a lot of funding and people with expertise. However, because of my social capital, I know that Ican turn my business concept into a real thing. 

2. What are you offering to customers: I’m offering my customers something unique in a certain way. Currently in the market, we have a lot of telecommunications companies that offers an internet connection. The problem with them is that the connection they offer is not cheap, it is very poor quality and the customer service they offer is one of the worsts of any industry. However, I’m offering something unique. I’m going to offer my customers a cheap and reliable internet connection for their homes. Most telecommunications companies can charge up to $60 for a mediocre connection. I’m going to offer my clients an internet connection for the same speed for $40. My customers will not even worry about seeking  assistance when having connection problems because the customer service I’m going to offer is also going to be top-notch.

3. Who are you offering it to: I’m offering my services to college students and single parent households. I chose this as my target segment because they have a lot of things in common. For example, money is a huge factor. To many people, $20 is not a lot. However, for a student that has to pay his loans and for a parent that has to take care of 3 children, it is a lot of money. If my customers see that there is a 33% price cut from their current internet service providers, I am pretty sure they are going to be willing to switch.

4. Why do they care: My customers care about what I offer because they also care about their disposable income. If my customers can find a way to save money I am sure that they will not think twice. My customers will be saving at least $240 a year by just switching for their current internet service provider. They also care because they already have debts to pay. If they can get some extra cash from just switching they will care.

5. What are your core competencies: My core competencies are price and customer service. Telecommunications companies are one of the most hated companies in the country. However, I’m offering something completely different. By making internet more affordable and providing much better customer service, I’m going to have a huge competitive advantage.

I believe that all of these elements fit together. If I combine them, everything starts making sense. My business concept alone will not cut it. I know that I need more than that. However, I did manage to find a way to be ahead of my competition. First of all, my targeted segment is perfect for what I’m trying to do. I’m trying to establish a telecommunications company that offers good customer service that is cheap and reliable. Because my segment is always trying to save money, I think that I can have success. 

Feedback:

On my first idea napkin, I was encouraged to add prices and add some value to my company. I did that by adding the price I’m going to charge and the price of my competition. I also added some value to my company by staying ahead of my competition. I did that by adding some top-notch customer service, cheap prices, and reliability. I decided to do this because of the additional feedback I got from previous interviews and idea napkin. My target segment cares a lot when it comes to price and customer service.