11A – Idea Napkin No. 1 Submit Assignment
1) You.
I am Tanya Sashi. My
talents include cooking/creating my own recipes from scratch, being creative,
and being a good listener. I have traveled the world, so I have a worldly
perspective. I have gone ski diving and scuba diving, so I am adventurous. I
have had 2 jobs at an ice cream shop and popcorn shop. My aspirations are to
one day own my own company and sell a unique product to consumers that improves
their lives. If I was to start providing this phone insurance, I am sure it
would better people’s lives as they would worry less about damaging their
phones and I would save them money. This would also allow me to be a successful
business owner.
2) What are you offering to customers?
My service allows people with phones to have an insurance plan
for their phones that allows them free repairs no matter what happens to it.
Even if the damage is due to them, they will still get a free repair. I will respond
to customers’ unmet needs of not having a hassle-free, inexpensive way of
fixing their broken phones.
3) Who are you offering it to?
My demographic is everyone who owns a phone. Specifically,
people who would use my service would likely be a younger crowd. Kids and teens
who own phones may be very wreck less with them, so their parents might want to
purchase my insurance to make sure they don’t lose money on always repairing
their children’s phones. Also, people who are cautious and worried about
breaking things or have the money to spend will be in my customer base. All my
customers have in common that they own phones that have a chance of breaking.
4) Why do they care?
Consumers will care because right now, they are spending a lot
of money every time they break their phone and need to repair it. They need a
solution so that they don’t keep spending so much money on repairing their
phone, because humans are human and will continue to make mistakes. Customers
will want my insurance plan so that they can live worry-free and easily get a
free repair for their phones. The cost of insurance will be much lower than the
cost of paying for one repair.
5) What are your core competencies?
I am different from all phone carriers offers, because as of
now, these companies only replace or fix peoples’ phones if it was a mechanical
defect due to their mistakes. But when it is the consumers fault, the consumer
must pay for the repairs. I am different because the consumer will not have to
pay a cent.
I feel that these elements fit well together. I have a service
no one else is providing and it is what the people want. I will get great
business because everyone will want 100% no questions asked phone insurance, which
will make my costs even lower, which in turn will draw in more customers. The
only problem I could see in my business is that people take advantage of my
service and break their phones on purpose just so they can get a free repair. If
implemented right, I believe this can be a successful business and consumers
will instantly be interested.
It was interesting to read something about you and your experience as an entrepreneur. I traveled the world too and I think that it is an important characteristic to have in order to be a successful entrepreneur. Knowing different cultures and different ways to look at reality can help to develop creativity. You definitely are providing a service that none else is providing and that people want.
ReplyDeleteWouldn't you have to include a life expectancy to this insurance plan? Otherwise people would continuously get new phones through their insurance plan and never need to BUY a new one. In that instance, telephone provider's may not collaborate with your insurance idea because they lose a large profit. Also, what regulations can you implement to assure yourself someone didn't intentionally break their phone for a new one?
ReplyDeleteI really like the idea of a phone insurance in case the phone breaks. I enjoyed reading your biography and how you had two jobs already and plan on starting your own business one day. Having an insurance plan for phones is way cheaper than getting a new one or paying for repairs every time your breaks or gets damaged.
ReplyDeleteYou're right that this would make customers happy. I think everyone with a phone would love to never have to pay for repairs again, as I know I personally have grown very tired of it. However, the point you made at the end that people may take advantage of the insurance is true. I know that when I have warranty on something, I am willing to break the item to get a new version of it or have it repaired. This could mean that even though the customers are happy and loving the service, you and cel phone providers could be losing out on a lot of money.
ReplyDelete