Idea Napkin No. 2

1. You
I am a young adult with a lot of learning to do. My talents are - talking to people, putting in 110% to things I'm passionate about, and thinking outside of the box. Some of my skills include listening, speaking effectively, confidence, teamwork, and problem solving. My aspirations include living a successful life, which to me is living a comfortable life that I am proud of. When I think of being a business owner I always think of making the business successful and then expanding from there. I think that this will play a large role in my life because I want to retire as early as possible so I can enjoy my retirement while I am still young.
2. What are you offering to your customers?
For this exercise I am going to use the idea of a gas station/convenient store again. I will be offering a wide range of products inside of the store and outside I will be offering gasoline, windshield washing stations, etc... basically it will be your everyday convenient store/fast food/gas station. I will be solving customers' unmet needs by building this establishment in an area where most people have trouble getting to the store because of lack of transportation. This idea is based solely off of the need of the people who live close by and also based on the amount of traffic through the road. This idea is not supposed to be innovative it is simply exploiting a need that is unmet in the area. This is not something I plan on being an income source for the rest of my life. This is simply a short term plan to make some capital to qualify for loans to fund my next venture. I would either hire someone to run the store and I would keep ownership of it or sell it after it becomes succesful. I know this idea would work well because of my interviews and because of the lack of stores around an area with a high population of people, many of which don't have quick or reliable transportation. Those who do have a vehicle will still be drawn in to my idea as well. The crime is a tad bit higher in this area than other parts of town but I think that it would not be much of a problem. There would be security cameras in plain view and maybe a monitor at the front of the store to show customers the cameras are functional, Employees that are loyal and alert to help prevent theft, and strategic product placement/security to make stealing anything valuable seem like too much work and risk.
3. Who are you offering it to?
I'm offering this service to everyone along the stretch of road where the store would be built and also to anyone driving by, which is a lot of people everyday around 5 o'clock when work lets out and there is decent traffic on this road in general.
4. Why do they care?
They care because many of the people along this stretch of road don't have many other options. They need something convenient and this will be one of their only options. Also it is convenient for people who are driving by. Many people use this road on the way home from work or to get across town and traffic is always at least decent for this reason. There isn't a gas station on this stretch of road so it would create a new convenience for many people.
5. What are your core competencies?
I believe that I think differently from the majority. I have always had a very realistic view on life and I think it helps me see everything for what it truly is. Many people like to see things more as they would like them to be, but I see them as they are. Some people have confused me with being "negative" when I have simply made an observation, which goes to show they chose to see this observation in a good light and I just chose to see it unfiltered. I have a very strong mind and I will use it.
I am very good at noticing unmet needs of myself and others and I am good at coming up with ways to solve these unmet needs. Every time I see an advertisement, business, etc... I am always thinking of what makes them successful, where they need improvement, and how the idea could have been better. This is a quality that will help me create the best business I can.
Evaluation
I believe all of the previous elements work together. I think that if I want to make something happen, it will happen. The only thing that holds me back is my harsh criticism of my ideas. The reason I am so critical is because I know that many businesses fail and I want to be so sure that I know it can't fail. I think this is a good thing though and I believe it falls in line with my realistic view of life. Many people who open businesses that aren't successful or go bankrupt are most likely people who aren't as realistic of me. They probably thought their idea was an amazing idea but weren't being critical, or realistic, enough. I won't have this problem. When I make my move into the business world it will be a carefully calibrated decision and it will be a success.
Five main takeaways from feedback
The main thing I changed was better explaining my idea. I did not make it clear that my idea was not supposed to be innovative.
I made clear what my idea is in the "what are you offering to your customers" section.
I added and exit strategy to better explain the long term plans of my idea.
I talked about the crime in the area and how I would address it.
I better explained how I was planning on exploiting my idea.
I elaborated on "why they care".