Assignment 11A Idea Napkin No. 1

 Assignment 11A Idea Napkin No. 1

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?

• My name is Stephanie Frechette and I am attending UF Online as a Business of Administration major with a minor in Educational Studies.  One of my special gifts is working with special needs individuals.  I currently work with elementary age students with autism.  I find these special children to be amazing and I am fascinated by what they teach me every day.  I have managed a business with my husband in the past and I enjoy business so here I am, in my 50's, back in school and excited to learn more about the world of business.  I also think I have a gift for seeing things through to the finish.  I enjoy other people and I truly feel passionate about making a meaningful difference in whatever I attempt in life.  My aspirations are to be the best wife, mom, citizen, and human being I can be.  As it relates to my next 30 years, I am aspiring to reinvent myself. If I were to start this business, it would certainly be a huge change from the life I live now.  It would still enable me to help people but in a different 

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

• The service I am offering to individuals is a method of removing unwanted tattoos. The unmet need for the individual is to find a way to remove a tattoo that they regret and do not want to have it any longer.  There may be other unmet needs as well. For example, an individual may want to get a job that does not permit tattoos that are visible.

Revenue Driver #1  Service	Revenue Driver #2  Product
Laser Tattoo Removal Treatment	Skin Care Products

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 a solution to individuals with tattoos who wish to have them removed.  More specifically, I believe the market would include more women than men and I would be targeting people who are over the age of 30.  Those individuals who would want to remove their unwanted tattoos would most likely have more disposable income and their attitudes about the way they look, specifically their skin, would be a priority. 

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. 

• The individual who who cares about his/her skin and has tattoo(s) that are problematic, meaning for that person, it has become a sensitive issue and he/she would be willing to spend the money to have several treatments to remove unwanted tattoos. I believe customers would pay for my service because it is important to them and they can afford it. I also believe if I offer a product along with the service it would be more appealing to the customer.

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

• I am a motivated self-starter with a lot of grit and determination. I have been part of a start up before and know the work that is involved with owning my own business.  Apart from my own human capital, I do not know that I have a "secret sauce" yet.  I am still developing this opportunity but I know that I will spend a lot of time researching to help gain competitive advantage in this industry.

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 believe that out of the five elements listed, four of them fit together with the my core competencies, the service offering and products that I have to offer, to whom I am offering the solution and why the customer would want to buy.  Although, the competitive advantage has not been established, I do feel there could be an advantage because there are barriers to entry in this market with respect to start up capital.  If I could use my social networking to help secure seed money for my business perhaps that would give me an advantage.  At this point, I know this is a weak point in my business concept.