19A Idea Napkin #2

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’m a student at the University of Florida with a passion for knowledge and an aspiration to educate. My talents are being able to read the numbers and create a policy to change these values. My business aspirations would be to get students and young people to get involved in current events. I’d hope to start small, say just targeting university students, but then expand to the rest of my demographic.

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

I’m offering an alternative to traditional media. Modern Media. It’ll be in a consumable format and language as to appeal to a younger, more center audience.

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’m offering this media source to young students, primarily aged 14-24. Its important to note these students are Americans of a lower socioeconomic status and little to no formal education.

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. 

They care because everyone wants to know what’s going on in the world, but fewer and fewer young people have the competence to read the news and really understand what’s happening from an unbiased perspective.

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

My core competencies would be

1.    Being a consumer in the market that I'm also trying to be a producer for. I want to make news for people similar to me because I see firsthand how challenging the media can be for a lot of people.

2.    Being quantitatively minded. I have an intricate understanding of statistics and mathematics, and I think we can use data to try and create a better and more efficient product.

3.    What I have that no one else does: a model for creating truly unbiased news.

Although I didn’t receive much critical feedback, I think the most important take away from my second attempt at this assignment is that I need to emphasize on “What I have that no one else does”. I think what makes this idea truly unique and captivating is the structure in which we design each article. There are a rigorous peer review and verification process that’s decentralized in order to remove any sort of biases. The one feedback I did receive mentioned that this was the strength of my idea. The second part of this was that the uniqueness of the process makes it intriguing to many young people. I see this as a strength as well.I think these elements fit together better now that I’ve figured out the process. The “personality” of the product must fit the demographic, and now I think that the process contributes to creating a culture around the product. This another strength.