Idea Napkin No. 2

Idea Napkin No. 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 am a young man out of Miami, FL. One of my talents is being able to compete in every sport athletically. Some skills I carry are being extremely sociable, a fast thinker, and quick-acting. I gained these skills through constant years of experience in the fields where I was forced to naturally have to act very quickly. My aspirations are to become a successful lawyer after completing my years of law school, and to manage and own a small business on the side. This business would be playing that hobby role that I desire to have in my life.

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

The service that I am creating to solve customers' unmet needs, is an iPhone application that networks all music producers in the world together. Music producers all over the world vary through different genres, and need a platform to share their samples and projects in order to sell them to other artists quickly and easily. Although I have not et come up with a name for this application, the idea of it is all together and is coming up soon.

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 application to music artists/producers all over the world so they can display, share and sell their projects with each other. These target customers and I have many things in common especially when it comes into the field of producing music. From being in the industry already and working with various superstar artists' managers, I know what its like for these producers to share their projects and the process it takes for them to sell it. 

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 customers care about this because when producing music, the last thing you want to stress is having a complicated system to sell and share your own personal projects.

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

What sets me apart from everyone else is the fact that I am willing to go the extra mile to help producers all over the world to simplify the way we all share and sell music projects before they are released through major record labels as final projects.

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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 these elements do fit all together, and this service is bringing together producers worldwide. The weaker side of my business concept is the part where I would be having to get people "transfer over" of switch the way they use their system of selling projects to one-another.

Feedback Memo:

I didn't receive any feedback on my last memo so I have nothing to point out in this section.