Idea Napkin
1. Who are you?
My name is Stephan Victor. I am a great people person and a leader whenever there is a need to be one. I was captain of my club soccer team and Varsity soccer team for a long time and my communication skills are above average because of this.
This business venture is a great idea which has already been partially exploited, but not to it's full extent. Adding more express lanes would be incredibly useful to all who need it, and I would most definitely be included in that group!
2. What are you offering to customers?
I am offering more express lanes in areas where they are scarce or non existent. This will allow drivers to have more free time and less frustration!
3. Who are you offering it to?
I am offering this service to anyone with a vehicle, willing to pay to get around the everyday traffic that is always there to give you a headache when you least expect it.
What do they have in common:
-Have access to a vehicle capable of driving on the freeway
-Have money to access the express lane
-Are bothered by traffic enough to deem the express lane worth it
4. Why do they care?
Customers of this service would care because of the time they save. The traffic in the areas where express lanes would be put up is terrible and worth the escape route!
5. What are your core competencies?
There are other roads they can take and there are already express lanes up in certain cities. I would primarily target large cities with a lack of express lanes. This is only expanding on a market that already exists. I would need to have lower prices or newer paved roads, easier access and more entry and exit points in order for there to be a need to use my express lane over others or simply not using one at all.
Evaluation:
There are a few major issues that I can see arising. First of all, the money to make express lanes would be exponential. So start up costs would far exceed what I would be able to come up with. On top of that, even if I was able to get a loan for the money, the business would not be profitable for some time, and depending on how many people decide to use our service, we could be bankrupt very quickly.
My name is Stephan Victor. I am a great people person and a leader whenever there is a need to be one. I was captain of my club soccer team and Varsity soccer team for a long time and my communication skills are above average because of this.
This business venture is a great idea which has already been partially exploited, but not to it's full extent. Adding more express lanes would be incredibly useful to all who need it, and I would most definitely be included in that group!
2. What are you offering to customers?
I am offering more express lanes in areas where they are scarce or non existent. This will allow drivers to have more free time and less frustration!
3. Who are you offering it to?
I am offering this service to anyone with a vehicle, willing to pay to get around the everyday traffic that is always there to give you a headache when you least expect it.
What do they have in common:
-Have access to a vehicle capable of driving on the freeway
-Have money to access the express lane
-Are bothered by traffic enough to deem the express lane worth it
4. Why do they care?
Customers of this service would care because of the time they save. The traffic in the areas where express lanes would be put up is terrible and worth the escape route!
5. What are your core competencies?
There are other roads they can take and there are already express lanes up in certain cities. I would primarily target large cities with a lack of express lanes. This is only expanding on a market that already exists. I would need to have lower prices or newer paved roads, easier access and more entry and exit points in order for there to be a need to use my express lane over others or simply not using one at all.
Evaluation:
There are a few major issues that I can see arising. First of all, the money to make express lanes would be exponential. So start up costs would far exceed what I would be able to come up with. On top of that, even if I was able to get a loan for the money, the business would not be profitable for some time, and depending on how many people decide to use our service, we could be bankrupt very quickly.
Hey Stephan,
ReplyDeleteGreat job you did the assignment very well. Pushing down the prices sounds like a good idea because it will act as an incentive for vehicle users to use your service, however I think as entrepreneurship you need to make sure you get enough profit to sustain and grow your business. Therefore, there should be a limit that the prices can go low
Hey there Stephan! Loved your idea napkin, as well as your elevator pitch. I think you have a great idea, and I also am willing to bet that there has been talk about express highways in major cities. In fact, Orlando has huge plans for the new and improved ultimate I4, adding 4 express lanes. If these express lanes were in other cities, it would definitely cut down on traffic.
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