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19A – Idea Napkin No. 2


19A – Idea Napkin No. 2


ENT3003

Chris Ward

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?
·      Having previously owned a business, I understand the amount of commitment needed to be successful. Owning a small business consumes a large part of the owner’s life.  While owning an electrical contracting business, I was part of the construction team of several coffee shops, so I know what is involved in opening one as well.  On top of all that, I am an avid coffee drinker that knows what a good cup is supposed to taste like.
2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 
·      I will provide all the services of coffee shop.  Including but not limited to all coffee products, pastries, bagels, muffins, wifi and plenty of seating.  The shop will also be located in a high traffic area near a turnpike exit.
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?
·      The coffee shop will be for anyone and everyone
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 price of our products will be comparable to any other shop and will be in an area where I believe there to be a need.  We will also serve the highest quality coffee, though this area still needs a bit of research to figure out the logistics.
5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?
·      I have an understanding of customer satisfaction and quality that I believe my local competitors do not have.  I can tell from visiting their shops, they have become greedy and their business seems to be all about making money and little about quality.  I also understand that this could also happen to me over time but being aware of it may help prevent it from happening.

Comments

  1. VictoriaMarch 21, 2019 at 10:42 AM

    I think your skills really tie together to help you in this business. Its great you have previous business experience that would really enhance the company. I just realized one of our fellow classmates, Laityn also has an idea for a coffee shop business. I would encourage you to read her blog and you both could ping ideas off each other. This may help since you both seem to have a similar vision. This could actually work well as someone to reach out to building social capital with someone in a similar business.

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