1) I am a rising third year student at the University of Florida, majoring in Business Administration and Philosophy, and minoring in Sociology. My skills lay in analytical and critical thinking and I have strengths in emotional and social intelligence. My aspirations are centered around doing good for society---whether it be through daily acts of service or through a business model. If this business were to gain traction, it would play a significant role in my life. Since I am the type of individual that gets very engulfed in things that I am passionate about, I would allocate a substantial portion of my time to bringing this business concept into fruition.
2) I am offering a product that is a form of protective headgear equipment for laborers within the roofing industry. This protective headgear is to protect roofers from often unpredictable and perilous weather conditions, like lightning strikes. It will be composed of durable metal material. Since metal is a strong conductor of electricity, it provides lightning a low resistance path---preventing the potential for explosions or fires.
3) This product is essentially being offered to any worker who finds him/herself primarily working outside on elevated surfaces. Thus, this can appeal to general construction workers, satellite installers, and even architects. However, those that are consistently exposed to the aforementioned conditions are individuals within the roofing industry. Based on demographical statistics, the average male roofer in the workforce is 36.8 years old and average female roofer in the workforce is 37.3 years, with the most common race/ethnicity for roofers being white (non-Hispanic).
4) Customers will pay to use my product because it provides a fundamental benefit: safety and protection. This protective headgear will aid in increasing the longevity of these workers and help prevent any fatal injuries from occurring. Thus, this product will essentially protect the wellbeing of potential customers---incentivizing them to make the investment to purchase my proposed equipment.
5) My core competencies revolve around the fact that there is not a product like this on the market yet. While there are standard hard hats and helmets that exist, there is no form of protective equipment that serves to protect individuals from the risk of lightning strikes. By developing my product by using components of durable metal material, I will be providing an innovative product that can hopefully alter the safety protocols within the roofing industry.
Overall, I still believe that all of these elements fit together in a harmonious manner. There does not seem to be any aspects of the business that are out of sync with one another. Since I am targeting a more niche market (i.e. roofing industry), the aspects of my business are more tailored and specialized towards customers within that field. Thus, I am currently content with the prospect of potentially pursuing this business concept in the near future.
Based on the feedback I received, I was told that there was a common understanding that the work performed by roofers is very hazardous. In fact, one peer reviewer explained that he knew someone who had actually just started a roofing business in North Carolina and wondered if his friend had ever considered protective gear for his fellow coworkers. This reinforced the relevancy of my idea and that it may have very practical applications for individuals within the roofing industry.
Hey Michael,
ReplyDeleteYour idea napkin is extremely thought-out and you have created your business idea around something that is easily achievable in your near future. One thing I want to point out about your idea napkin is how you describe your social and emotional intelligence as one of your strengths. In order to sell a product, the intelligence you possess in those areas is extremely critical. Good work!
Hi Michael,
ReplyDeleteCompared to your first version, this one is much more in depth, which is fantastic great improvement. I liked that you added in your conclusion the info you learned from the comments. I did not see that comment, so maybe knowing someone in the field can help push this idea to reality with their help? As well as having this niche, and this future safety equipment, this will definitely cause a safety boom in this industry, in my opinion, if this product does actually become more than the assignment.
Hi Michael,
ReplyDeleteI am glad to hear that, in your analysis, you were able to validate there might be a true need for your product. I appreciate your analysis of your "soft skills" and did not limit yourself to describing how much technical knowledge you have about your industry. I feel that these soft skills that you mention, critical thinking and emotional intelligence pair well in the practical aspect of selling your products and building your brand. Great work!
I wish you could have learned more off your peer review comments, added on from the original post. I like how you included from what some peer reviewers said, for those who didn’t see the comment. Maybe incorporate more on the practical applications you received from the peer reviewer next time or in future assignments. I’d like to here what you learned from the other comments.
ReplyDelete