19A Idea Napkin no.2

1) You.    I am Jeff Seo a sophomore at the University of Florida. One of the things that I am confident in myself is the ability to interact with others and relate with them. Some of my aspirations are being a harder worker who is dedicated to success. I would like to grow a more business mindset and learn how to sell myself. My business idea, which is the cell phone with a self-regenerating battery would relate and impact my life significantly since I am an avid cell phone user. The fact that I do not have to worry about my phone battery would be a great feeling. 

2) What are you offering to customers?  I am providing a phone with self-regenerating battery to the customers. This would make the lifestyle of my customers easier as it gets rid of one more thing that they would have to worry about. It also lowers the risk of people having to miss business calls, schedules, and more due to their phone dying. 

3) Who are you offering it to? The demographics for my business idea would range from young people to old people from various backgrounds excluding anyone who might be 50 years or older since they might not care about the new technology as much. 

4) Why do they care?  The customer would care because the phone is something that they all use in their daily lives. There are sayings that we are the first generation where an exterior object might be considered a part of our body. Cell phones stay with us 24/7 and are crucial to our lifestyle which is why people would buy a technology that makes their life simpler. 

5) What are your core competencies? I can talk to people and lead a conversation well. I can also sense the needs of others quickly. 

I think my business ideas do relate well to the five elements listed. It is a reflection of who I am because the product would be helping my customers and satisfying their needs. It would also require me to work harder and be more business minded. One of the weaknesses in my business model is that the customer pool might be too broad. There are so many people that could be potential customers for my business model. However, I think that this could also be the strength of my business model as it can relate to everyone.

Feedback memo: Most of the feedback I received were people agreeing with me that my business idea is effective and relatable. Most stated that it was a good idea.