You: I am a junior at the University of Florida studying finance. I am from Long Island, New York. I enjoy traveling, skiing and trying new foods. Some of my skills include being proficient in Microsoft Word, Excel and PowerPoint. I consider myself to be very good with computers and able to pick up technology very easily. I am very interested in the entertainment industry and this past summer I interned at AMC Networks in the finance department for AMC and Sundance. There, I was able to use my analytical, Excel, and organizational skills to further develop my passion for the entertainment industry. If I were to start this business, I think that it would start out as a part time side job which would eventually turn into a full-time job. I can also see the business concept taking a turn, in which I would develop the software for the Bluetooth and then eventually sell it off to a different company. I think that my idea is there, but I don’t see myself making this my full-time job since I don’t yet have a true passion for this.
What are you offering to customers? I am offering an easy way to connect Bluetooth devices to airplanes. My invention will make it so that travelers will never have to worry again about owning and bringing a wired pair of headphones while traveling.
Who are you offering it to? At first, I was going to invent a device for consumers to purchase in the store such as best buy, target, etc. making it B2C. Now, I think I want to develop the program software and sell it to different airline companies for them to install it on all of their airplanes, B2B.
Why do they care? They care because it would increase their customer satisfaction and eventually revenue. They could slightly increase their prices by providing this service to their customers. They know that it is a known problem, and by people not using the personal entertainment, they are wasting money on contracts with entertainment companies that provide their content to the airlines.
What are your core competencies? My passion for both entertainment and traveling are to my benefit. I am able to understand how consumers want to travel while keeping a budget in mind. My detail-oriented mind will be of benefit when deciding key decisions for the business.
When evaluating all of these questions, I do think that they tie into each other in one way or another. Great computer skills will allow me to develop a software. Excel and business skills will allow me to keep track, organize, and analyze important business decisions. Selling to the consumer could be possible, I am just not sure how it would do in the market because if there is a family of five, I am not sure how many times the parent would want to buy this one product. Owning five of these devices could end up very costly. I think that the software development could be a successful business approach.
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