Wednesday, March 30, 2016

Venture Concept No. 1

            At the University of Florida and Santa Fe College in Gainesville, motor-scooters are a common item to own for undergraduate and graduate students. Most students that are currently enrolled in college range in age from eighteen to twenty-five years old. These students ride scooters, motorcycles, and bicycles daily to and from their home to campus. There is even an abundance of students that live on campus who own these vehicles. Unfortunately, most of these students are not wearing helmets while riding their vehicles. Whether they lost them, didn’t purchase one, or simply refuse to wear a helmet, this is a dangerous situation. It does not matter how far the trip will be, people should always be wearing helmets when riding a bicycle, scooter, or motorcycle. Students are putting themselves in dangerous situations and disregarding their safety by not protecting themselves. Most students will purchase a helmet, and then proceed to lose it or simply never wear it. This could also extend to any non-student in the Gainesville area that does not care to wear a helmet when riding one of these vehicles. Students are not the only ones making these poor decisions, and it is a pretty scary truth. I believe that there will always be a market of incoming students and new-scooter owners who need to purchase helmets. Riding motorcycles, scooters, and bicycles to and from class is a steady trend, and I believe there will always be people who are looking to buy a helmet to keep themselves safe.
            My company, Street Smart, will be designing, manufacturing, and selling helmets to students and non-students who own bicycles, scooters, or motorcycles. These helmets will be customizable on our website or in-store, and this will ensure that each customer is beyond satisfied with his or her purchase.
The customizable aspects will consist of:
·      Material
·      Shape
·      Fit (provide measurements)
·      Color
·      Design
Customers will be able to personalize their helmets so that they are satisfied with the
purchase in the end. These helmets will provide complete protection to the customer’s head, and an optional eye shield will be available as well. There will be a strap that wraps under the chin in order to secure the helmet safely. Each helmet’s cost will vary, but the helmets will range from around $70.00-$90.00. Most helmets are around this price range, but these land on the higher end because of how customizable and high-quality they are. The purchase will include a helmet and a lock and key to secure the helmet to the scooter when not in use.
            These helmets will attract college students because they are fashionable and comfortable. This will eliminate the danger of students riding to and from classes or work without wearing a helmet. The importance of safety and wearing a helmet cannot be stressed enough, and my company will make that clear to each and every individual customer. Customers will want to buy these helmets because of how comfortable and stylish they will be. I think customers will want to switch to this new product because of how customizable they are. There are currently no other scooter stores in Gainesville that allow customers to personalize their helmets. Also, I think that once customers who already have helmets see what these new ones can look like, they will highly consider switching to this helmet. In Gainesville, there are multiple other scooter stores such as Solano Cycle and New Scooters 4 Less that sell helmets for scooters. My company’s advantage is that neither of these stores allow customizable capabilities to their helmets. Their helmets are limited in sizing, and my helmets will allow customers to provide measurements in order to perfectly fit the helmet, which in turn is safer for the customer while riding. This will reduce the possibility that the helmet will slip or not properly cover the entire head.
            My business will provide a website and a local location that customers can use as resources when inquiring about pricing, options, shipping, and more. The website will clearly outline all of the different customizable options, price points, and shipping details. The local store location will also be convenient for anyone who would want to try on sample helmets or speak with customer service representatives in person. My business itself would consist of the CEO, a team of five store managers, three assistant managers, and part-time staff members. This can also include interns from the college or university in order to provide experience and professional training.

            I think my business has the ‘unfair advantage’ of me being a college student who owns a scooter and struggles with my helmet every day. I understand that wearing helmets can be considered ‘uncool,’ and they can honestly just be uncomfortable. I can talk with peers about what they would like to see in their helmets, what their current problems with them are, and even work out group purchases with athletic teams. Eventually, I would hope that my business would grow to encompass more than just helmets. I think that I could grow my business to providing more safety accessories to scooters, motorcycles, and bicycles. After enough growth, the business could even have separate departments for each vehicle. This would widen my target customers beyond people who simply need helmets. Finally, as an entrepreneur I would hope to be the CEO of this company, and possibly managing or consulting with other scooter companies. I think this venture would help me learn a lot about the scooter business, and I would be able to branch out in that area. I would hopefully be able to look to expand into Tallahassee or Orlando because they also have major universities.

Sunday, March 27, 2016

Week 11 Reading Reflection

One topic that surprised me or stood out from my expectations was about the different types of innovation. I always thought that innovation was simply innovation, I had never thought of there being specific types that are appropriate to specific ideas. The multiples types include routine, disruptive, radical, and architectural. When a company is creating a new idea, they have to decide which type of innovation to decide upon. Companies have to decide how heavily to focus on technological innovation and their business model.
One part of the reading that was initially confusing to me was the concept of trade-offs and how it relates to crowdsourcing. The author explained how crowdsourcing can be helpful to companies because it offers an outside point of view from people who the company may not have been able to find on its own. There are websites like Linux and InnoCentive which help business acquire outside help which is considered to be outsourcing. This comes with an inhere trade-off, which I did not really grasp at first. I was not understanding where the trade-off was because I couldn’t see the negative effect.
If I was able to ask two questions to the author, I would ask him what types of innovation he thinks I should be focusing on and utilizing most for my business, and how I should communicate that to my customers. I think his opinion would be extremely valuable, and it would help me have a more complete understanding of what he wrote about in this review. If he could answer these questions, I could apply the topics he was describing and understand them more fully.

Overall, there was nothing specifically that I didn’t agree with throughout this business review. I think that most of the ideas put forward throughout this writing were not very opinionated, which made them easy to agree with. The author made a lot of really great points, and I learned a lot from this reading.

Amazon Whisperer

In my business concept, there are certain revenue drivers that I believe are key to the company’s success. I think that being able to customize the look, size, and shape of the helmet will attract customers. These helmets will stand out because they are all unique, and I think that will be a heavily driving factor. Customers will be able to choose their preferred color, fit, shape, and materials.
I think that the next thing I should offer my customers would be another type of accessory that will help protect them while they’re scooting, biking, or riding a motorcycle. I think that a small device that beeps when there are cars directly behind the scooters or motorcycles would be a helpful accessory. This will help riders be fully aware of their surroundings. I think that this device will definitely improve customer experience and loyalty. A business that focuses on the safety of its customers holds value to people. This type of product will help people on scooters, motorcycles, and bikes know if there are cars close behind them without having to completely turn around and risk falling.


The closest product that I could find in regards to what I wanted to offer “next” was a front and rear radar system. This product consists of multiple sensors and an LCD system that is designed to help cars park by notifying them when there is something behind or on front of them. It comes with and LCD display system and sensors that are anti-wind, anti-sand, anti-fog, anti-frost, and much more. The product has multiple sound modes in order to alert the driver of its surroundings.

There were no customer reviews about the product, but I think an important factor is probably how user friendly the device is. It is important that this product is easy to properly setup and attach to the vehicle. Personally, I would only require two sensors that would attach on the back and a smaller receiver that can be placed on the front of the scooter or motorcycle. I think this would be a great addition to my product because it reinforces the idea of safety and awareness. Street Smart emphasizes the importance of safety to its customers, and the company wants to continue this idea.