Opportunity
My customer base come from the growing size of student
deciding to take online class rather than going to university physically. This
is due to preference or financial reason that make it too expensive to live in
dorm or must constantly drive to their university to take classes. This group has lot of potential customer that
would go for this app for variety reason. Some are diligent student who are
looking for any tool that will help them further improve, so while some feature
like lockdown of phone may not be necessary to them. They will still be
attracted to feature like calendar integration with phone to help them make
better study plan. They’re those who are adjusted to doing self-study do to
taking physical class that constantly remind you to study and do your assignment
in time. At such this app will help them get adjusted with university online
life by providing constant reminder for due date and locking distraction away
in order to set up a more class like setting for them to study or work in. As
during physical class, you would not be allowed to play gamer or get distracted
browsing the internet. This app will also help those struggling with online
classes I general by use providing a lot of tool that could help turn their
life around by giving them a way to develop more hard-working diligent style of
doing online classes. There is time-window for this opportunity that come in
two form. First are that customer would only use the app during their
university life at such once they graduate this app will become useless to them,
after they have graduated. The other time-windowed is the newness of the
concept of online class. This time window is harder to measure due to the fact
online class are still slowly getting adopted by more university over the years.
At such their a lot less competition for this niche but growing market meaning
you have a lot less competition for the attention of online student.
Innovation
Productivity app is already an establish group of market
that specialized on different thing ranging from general app that are made to prevent
procrastination and help people achieve their goal through help with scheduling
too more specialized app that focus as example thing like living healthier lifestyle.
That provide tool to schedule exercise time along with way to record your calories
intake and give advice on preparing dish that would help meet you get in shape.
This app specialized for university student and provide tool specifically for
them. Such as canvas calendar integration with the calendar provider in your
phone. At such having constant access to due date for your assignment at all
time without having to login to your online class account. Along with alarm set
up to remind you ahead of time as the assignment due date approaches you. Other feature consider would providing access
to resources link for studying purpose along with forum communication to give recommendation
on picking your classes better and giving you good idea what to expect for each
semester. The pricing would be a onetime two-dollar purchase that provide
additional source of revenue from cosmetic feature to customize thing like calendar
provided. Along with a donation button for those who are really benefited from
app and wish to further pay us to improve the app through update.
Venture Concept
Customer would come for my app for variety reason. Such as
low price providing low barrier of entry in desired to try this app to see how
it improve their performance in online class. This two-dollar price will be
specially attracted due to many productivity app being similar priced. Along
with the fact that taking university class cost a lot more than my app. At such
someone taking class will see two dollar as very small price to help make sure
you get everything out of the cost already paid for taking online classes. At
such between failing or not doing well in those classes and paying two dollars
will be a no brainer payment to make sure you get value out of your previous
much costly investment. This app will also provide community for those just
starting to take online classes that will help them do well in them like website
that help guide student who were taking physical university classes. The main feature
would direct integration with partner online school such that they will provide
more benefit for online student choosing our app over a more generic
productivity app. The fact few app is specializing to online class combine with
newness of experience of taking online class a lot of student would experience.
Would make them more curious to trying out my app do to having a lot less
competition from other app along with less advices for them being available.
Three Minor Element
Besides your actual innovative product, service, or
process, what will you have that will make it hard for competitors to copy your
success?
The hardest feature to copy based on the resource I
have available would be my connection to a university online school of UF. This
give me firsthand experience to how online student function in their classes.
Along with possible access to being able to get permission to integrate my app
officially with an online university of Florida. This type of connection is
harder to obtain as they’re not as simple to purchase at such it much harder to
copy. At the same time a lot of company due to have connection to university so
it not impossible for competitor to copy this advantage it would still serve as
something that will limit the ability of other company without this connection
to compete against me.
Describe either the next opportunity you want
to tackle with your current innovation, or describe the next new product,
service, or process that may be aimed at your existing customers.
I would like to
add a lot more feature to my app in order to being able to differentiate myself
from other competitor. Also, I would like to find not intrusive extra payment
option that not hamper user experience in order to get a steady stream source
of revenue that will continue to improve my app at a much quicker rate thus
increased my market shared.
Assuming you
launched, where do you want to be in five years with this venture? Where do you
want to be, as an entrepreneur, in the next decade, and how does this first
venture help you achieve your vision?
I would like to
focus mainly in improving my app for the first five year of the app life. After
that I would slowdown support of my app unless it is providing a large amount
of profit a start focusing a new business idea. Specially if this venture is successful as my
next idea could be more ambitious due to being able to get a lot more investor
for my idea due to having an example that my idea has been successful before.
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