Venture Concept No. 1
Opportunity
The need exists for students at the University of Florida that have a car and need to park on campus. The nature of this need is that they need a way to plan out their day so they aren’t always stymied by driving around looking for parking. The forces creating this opportunity are the fact that UF is growing at an extremely fast rate and that means more cars are on campus. The market is limited to students at UF in Gainesville. There is no way for customers to currently plan out where the want to park. There is no dedicated way to check whether parking lots are full or not except by driving around aimlessly. This opportunity is big because there are a large number of students at the University of Florida that have cars. The window of opportunity exists as long as UF keeps bringing in record amounts of students each year.
Innovation
Applications on smartphones have made it much easier to access information on the fly. Mobile applications primarily serve as a way to pass time and gain knowledge on the world in their vicinity. They have a wide variety of uses and work by downloading them from an application store found on most phones. Mobile applications make money by either selling ad space and add-ons or getting companies or non-profits to sponsor the product for the betterment of society.
Venture Concept
My concept is to create an app that will show students what lots are full or open based on sensors imbedded into parking spaces. I think that customers will buy into this because it will alleviate some of the annoyance of driving around all day looking for a parking spot. There will be no need to switch products because this will be first of its kind found on UF’s campus. There are no competitors because the goal would be to have an exclusive contract with UF. Customer experience is very important and so we will strive to make sure the app is extremely accurate and up to date with which lots are full or open. I think that the business would be pretty small with only a few employees. Putting sensors into parking spots would take a lot of time but once it is all up and running it should be pretty easy to manage.
Three Minor Elements
I think my most important resource is the knowledge that I have of UF’s campus and the problems associated with parking. I think that will allow me to very easily incorporate my idea and see it to fruition.
I think the next step for this venture would be getting UF up and running and then expanding it to other parking areas in other universities and cities.
If I launched, I would want to be breaking ground with sensors at UF within the first two years. In the next decade I would want to expand the venture into other towns and universities to help alleviate some of their own problems with parking.
The need exists for students at the University of Florida that have a car and need to park on campus. The nature of this need is that they need a way to plan out their day so they aren’t always stymied by driving around looking for parking. The forces creating this opportunity are the fact that UF is growing at an extremely fast rate and that means more cars are on campus. The market is limited to students at UF in Gainesville. There is no way for customers to currently plan out where the want to park. There is no dedicated way to check whether parking lots are full or not except by driving around aimlessly. This opportunity is big because there are a large number of students at the University of Florida that have cars. The window of opportunity exists as long as UF keeps bringing in record amounts of students each year.
Innovation
Applications on smartphones have made it much easier to access information on the fly. Mobile applications primarily serve as a way to pass time and gain knowledge on the world in their vicinity. They have a wide variety of uses and work by downloading them from an application store found on most phones. Mobile applications make money by either selling ad space and add-ons or getting companies or non-profits to sponsor the product for the betterment of society.
Venture Concept
My concept is to create an app that will show students what lots are full or open based on sensors imbedded into parking spaces. I think that customers will buy into this because it will alleviate some of the annoyance of driving around all day looking for a parking spot. There will be no need to switch products because this will be first of its kind found on UF’s campus. There are no competitors because the goal would be to have an exclusive contract with UF. Customer experience is very important and so we will strive to make sure the app is extremely accurate and up to date with which lots are full or open. I think that the business would be pretty small with only a few employees. Putting sensors into parking spots would take a lot of time but once it is all up and running it should be pretty easy to manage.
Three Minor Elements
I think my most important resource is the knowledge that I have of UF’s campus and the problems associated with parking. I think that will allow me to very easily incorporate my idea and see it to fruition.
I think the next step for this venture would be getting UF up and running and then expanding it to other parking areas in other universities and cities.
If I launched, I would want to be breaking ground with sensors at UF within the first two years. In the next decade I would want to expand the venture into other towns and universities to help alleviate some of their own problems with parking.
William,
ReplyDeleteYou have set a clear lay out of what the problem is and how you are able to help fix it. I think everything you have discussed is simple and clear cut which is easy for me to understand how you're going to fix my problem. Thats what I like the most about how you present, everything is precise. Thank you or sharing!
William,
ReplyDeleteA clear vision of what you and your company wants is a great asset. You know the problem and have created an excellent solution for it. I am confident that your skills will lead you far. Another thing to consider is that having a solid vision for your company could potentially attract investors as it shows you have a promising idea and that you can execute it.