Idea Napkin No. 2
1. Hello, my name is Ishan Patel, I am a sports management
major at UF and have huge interest in sports. I follow just about every sport
and therefore, I hope to launch a platform that will allow someone to watch any
sport in the world. The business would consume my life as not only would I use
the product but would also be trying to secure deals to ensure the success of
the product.
2. I am offering a streaming service that will allow you to stream any sport that you want to watch. It will include all foreign sports as well to ensure that everybody that likes sports can enjoy. The service will let you choose what team you would like to watch instead of having to watch whatever team is being aired in the area if the sport was on regular cable.
3. I am offering it to anybody that likes to watch sports. The service will be for people that like multiple sports mainly as they wouldn’t have to purchase multiple channels or subscriptions to watch the sports they like. I am also offering to sports bars and restaurants as they can use the service for only a single fee instead of multiple fees which can help reduce cost.
4. The service is valuable as it will be cheaper than buying multiple services as well as it shows every sport so therefore you won’t ever need to worry about not having the game. The people also get to choose what team they want to watch. Bars and restaurants will never not have a game that a fan may want.
5. The core competencies are that it provides every sport that you can imagine all for a monthly fee as supposed to buying multiple subscriptions every year. We would have sports that no other service has so that every person would get what they desire.
2. I am offering a streaming service that will allow you to stream any sport that you want to watch. It will include all foreign sports as well to ensure that everybody that likes sports can enjoy. The service will let you choose what team you would like to watch instead of having to watch whatever team is being aired in the area if the sport was on regular cable.
3. I am offering it to anybody that likes to watch sports. The service will be for people that like multiple sports mainly as they wouldn’t have to purchase multiple channels or subscriptions to watch the sports they like. I am also offering to sports bars and restaurants as they can use the service for only a single fee instead of multiple fees which can help reduce cost.
4. The service is valuable as it will be cheaper than buying multiple services as well as it shows every sport so therefore you won’t ever need to worry about not having the game. The people also get to choose what team they want to watch. Bars and restaurants will never not have a game that a fan may want.
5. The core competencies are that it provides every sport that you can imagine all for a monthly fee as supposed to buying multiple subscriptions every year. We would have sports that no other service has so that every person would get what they desire.
I believe that the idea fits together as I see that there is a route and a niche that would purchase the product. The weakest part is that I have only a small niche, so I need to find a way to get all sports watchers to join even if they only watch one sport. However, having added restaurants has made it a bigger area that people would access so might not be a weak point any longer.
In my feedback I received they said I was good at incorporating
all people, trying to get all people to purchase it. The other point I received
was that it was a nice idea that I found a way to get many sports watchers to
be a possible customer. I found a new customer that I could gain more revenue
from. I incorporated that to who I am offering it to and why they care.
Hi, Ishan! You developed your business plan substantially since your last idea napkin assignment, and I can see it already panning out a lot better. Even though you mention that your market is a bit small and niche, I definitely feel that you can still use that to your advantage. Following a focus-differentiation business strategy can still provide future successes and profits. It's all about knowing how to target to that audience and the rest will fall into place.
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