Idea Napkin Part 2

19A

After doing several interviews and reflection exercises and getting feedback, I believe I have a different perspective on my skills and myself. In my previous post I mentioned that I am an ambitious, organized person which would help with my business. In addition, I think my calm temperament and ability to problem solve would be a huge addition as well, especially in a startup with a quickly changing environment. My past experiences with marketing and the internship I had last summer would provide a lot of benefits that could aid the business. I see it growing to be one of the biggest, most downloaded apps on the market, and expanding my business to hire more employees, personal trainers, and technicians to keep the app constantly changing.

I’m offering a fitness app to customers, which gives them the ability to workout properly and have a customizable plan that will get them in the shape they want. The difference is that I’m going to market it as a personal trainer app rather than just a general workout app. This more identifies the customers need of a customizable workout that they need without having to hire a personal trainer and pay the expensive money.

I would be offering this to mostly younger college students and young adults because they are the one who would be able to most utilize the new technology and understand the app. Also, they are the market that would most appreciate the discounted trainer price, and I think it would be a great opportunity.

As I mentioned, customers would want to buy this app because it provides a customizable workout at a cheaper rate than most trainers. This is because we outsource the training plan to fitness instructors at a center who would base the workouts on the info the consumer gives them, rather than meeting with someone in person for a longer time and more expensive.

I’ve changed what sets me apart now, as I’m switching from the full comprehensiveness angle to the personal trainer angle. This allows me to fully focus on what is the biggest feature of the app: the fact that you can get customized workout plans at a discounted rate. No one else has that advantage of offering good plans tailored to consumers at a cheaper rate.

All these elements together provide a good groundwork for a startup. My ability to be proactive and remain calm would be helpful for the business, as my business strategy focuses on keeping costs low and so I would undoubtedly have to change my price point a couple times. A weakness is the amount of capital it would take to start, as I need personal trainers and app developers, among other things.

Feedback Memo: The two biggest points I received on my feedback that I incorporated into my second napkin was the way I should change my marketing strategy, along with a strength of being calm in stressful situations. I talked a lot about how changing to a personal trainer app would help my business stand apart from the rest of the competition and start to provide a distinct advantage. The second was feedback from one of my interviews, which mentioned my calm temperament as an advantage. This was another one of my strengths that I incorporated in multiple times, as I thought it was be essential in an environment like a start up.