Idea Napkin No. 2

I didn't receive any constructive feedback from my first Idea napkin. The only comments I received were encouraging and talking about how good my post was.

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 Joey Magnole I am a sophomore at the University of Florida. I am currently majoring in business. I have a talent in basketball, I play almost every day and have been playing since I was five. I would also say that I have a talent for being a very approachable person. I know that seems a little boastful but I truly believe I have a knack for being open and being a very accepting person. I think that if I could successfully pull this off it would play a huge part in my life. It would lead to a possible steady source of income and could be a potential building block for my entrepreneurial future.

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

• My proposed product is a large machine that has multiple drawers and a touch screen. The system I am proposing works like this. When you order your sub you will now be asked to produce a custom four digit pin and when you go to the store the large case which will work both as a warmer or cooler to keep the subs a certain temperature. When you get there you will put in the four digit code you created and one of the drawers within the machine will open with your sub in it and you then take your sub and leave. This could not only work for Publix but for anything that uses online ordering.

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 this product to stores and restaurants who specialize in carryout and specifically online ordering. The idea originally came to offer this to Publix for their online sub orders. However the idea quickly evolved to being applicable to all types of food vendors. The key characteristic for the demographic are people who have a lot of online ordering. This product provides these stores with an extra level of security and customer satisfaction.

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. 

• I believe they care because my product offers them a level of security for their product while also requiring little to no man power to keep on and working. The best part about the product is that the customer doesn't have to pay anything extra for it. This product is meant to prevent theft and wasted resources which eventually saves money for the stores.

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

• As best to my knowledge there are competitors in this but they have failed to expand their business to different areas of restaurant. I think that my idea to expand it to stores as well as different restaurants. I also think that the code system sets us apart by using customized codes it ensures that customer specificity to the order.

I do believe all these elements work together. However, I believe that the issues with this opportunity lie with presenting it to stores and restaurants. The problem is showing these businesses that it is worth having these machines rather than not having it. The key points to present have to do with theft and wasted resources because of it. Also to point out that this requires little to no extra work and raises customer satisfaction. 

Feedback Memo

For the "feedback memo" -- please summarize at least two main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin. 

• One piece of feedback I chose to focus on was that in times like this where takeout is king and companies are constantly trying to raise their efficiency. My product is the perfect way to do this, with the automated screen and code system the product doesn't require employee oversight making it easier for the customer.
• The other piece of feedback I focused on was that this product would cut costs for these companies. This product is a win win for both company and customer. If I can focus on product cost and efficiency there is no reason companies wont wan't to purchase my product.

Elevator Pitch No. 2

1. https://www.youtube.com/watch?v=-n9JqiGb3CY

2. A reflection on the feedback you received from your last pitch

• The feedback I received on my last pitch was critical; and constructive. While some of the comments were blunt they were not without purpose. I learned from the feedback that my video needed to be longer and more informative. As well I learned that I needed to deliver the speech with more emotion and enthusiasm. The feed back was a clear response to the wholes within my pitch.

3. What did you change, based on the feedback?

• In this pitch I made sure to add more information about the product as well on the plans for distribution. I also added things to create scenarios and paint a better picture for the viewer as well as trying to entice investors. By making the pitch longer it also allowed me to expound upon the way the product functions and operates.

Create a Customer Avatar

When I think of my customer avatar I think of a college student. A student who has been hard at work all day cramming for an upcoming test and hasn't eaten all day. It's late at night and our student who for the sake of time we will call Danny has finally decided to call it quits for the day and get something to eat. Just before leaving the library Danny puts in an order to Publix for a pipping hot chicken tender sub. Danny is very wary about ordering a sub online because last time he did it was stolen before he got there. The problem is that Danny knows that if he doesn't order his sub online he won't make it to Publix before the deli closes. So he orders it but something is different the order asks him for a four digit code, something he has never done before but he thinks nothing of it because he is too worried about what happened last time. He rushes over in his vintage 1967 red Ford Mustang that he rebuilt with his brother over the summer. As he is driving through campus praying that he makes it and his sub is there waiting for him Danny can't help but think the worst that he will once again be left with out his sub. He finally makes it to Publix where he runs through the parking lot and through doors to turn quickly to the right towards the deli hoping and praying he sees his sub from a far. That is when he sees it, a giant stainless steel box bigger than a vending machine with a touch screen placed directly in the middle. He approaches slowly and confused as he arrives at the screen it asks him for a four digit pin so Danny enters his pin remembering that it asked for one after he placed his order. Bam out pops a drawer and in it sits his sub made to perfection. All his stress leaves his body and is replaced by joy he looks closer at the machine to try and make out what it says. All the that machine reads is "Food Safes, keeping your food safe for you". 

What do you have in common with the customer avatar? 

• I often find myself forgetting to eat due to school just like Danny. And like Danny I too often order food online and worry about the safety of the food and whether or not it's going to be there when I arrive.

If you have anything in common with the avatar, do you think that is a coincidence? Why?

I don't think this is a coincidence because i designed this product with my own needs in mind as well as trying to solve a problem that I though people like myself often face in their everyday lives.