Idea Napkin No. 2

Second Shot at Idea Napkin No. 2

On your entrepreneurial journey and the path to identify and solve a potentially lucrative business opportunity, feedback is critical. On your first Idea Napkin, you received feedback from four fellow students. In this second effort, I'd like to revise your napkin by taking into consideration the feedback you received.

In this exercise, there are two parts. First, the idea napkin; second, the 'feedback memo.' I explain them below.

For the idea napkin, please describe the following (these are the same elements as in the first idea napkin). However, this time, please adjust your napkin to reflect the feedback you received.:

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

For the "feedback memo" -- please summarize five main points that you took away from the feedback you received. Also, please describe how you incorporated the feedback into this idea napkin. 

With this post, you need to include the phrase "Idea Napkin No. 2" in the title and a "Week 9" label. Once you have published this post, be sure to Share the post URL and make the appropriate Declaration. 

Text for declaration:

PLEASE READ CAREFULLY:

I have published a post with my second idea napkin, outlining my business concept.

In this post, I describe:

• Who I am
• What I am offering to customers
• Who my customers are
• Why my customers will spend money to use my product/service
• What my core competencies are.

I have also included the "feedback memo," which describes the five key points I received in the feedback as well as describing how I incorporated this feedback into this idea napkin.

I have included the phrase "Idea Napkin No. 2" in the post title, and I have labeled it "Week 9." 

I have proofread my post.