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Assessing Idea - Coggle Diagram
Assessing Idea
Do I have the talents and skills to implement this idea (or the ability to put together a team that can)? Are the risks associated with this type of venture acceptable to me?
Yes I do, as for entertainment is an area where I feel the most skilled. Of course I am still progressing but I do feel confident in my skills as of now. I also feel confident that I can put together the team neccessary, as I have already begun to do that.
There are risks however, I would say that financially I have put a lot of my own resources into my career, and I am aware that it could end up being a loss, and a big one at that.
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Are the rewards (personal growth, satisfaction, self-expression, financial, recognition) adequate to offset the risks associated with this venture?
I believe that the rewards heavily outweigh any of the risks known here though. While their are a few risks, like financial issues, losing time, and loss of motivation and desire to create, I believe that the upside is so much greater.
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How will creating a business help you achieve your personal, professional, and financial goals?
Mainly it will give me the chance to work on my own schedule, it will give me the opportunity to pursue my passion and a career at the same time. I will also be able to travel as my career path would be very condusive to it, I will also be able to be financially free to not only invest in other avenues, but I will be able to learn new skills and such.
Good Signs Question
I would say Fits current consumer behavior
more than anything. As far as entertainment goes I feel that my perogative is to stay relevant and remain something people want to invest in
Talking About Idea
I am solving the problem of customer service folleys in the restaurant industry.
By giving servers a tool to help them better serve their guests and keep them up to date on everything they need to know and do.
It is a POS that travels with the server and is very discreet, and worn as a watch.
My competitive advantage is that it allows the hosts to stay in front to do their job instead of looking to find servers, or whoever. Also makes it very easy to communicate with each other.
Restaurants will buy it for their staff
I'm very unique
Elevator Pitch
Would you like to know what 100% effiency looks like in the restaurant?
Our product allows your servers to keep tighter tabs on the guests but it allows the best communication throughout the restaurant for all, and its a wearable device.
I have been a server for over 5 years as well as a lover of technology and always wondered how I could increase workplace effiencey.
With the more people invested the more resources I have to further update and increase its effiencey.
Do everything in your power for your guest.
You need to upgrade your POS today.
Entrepreneurial Risks
Being an entreprenuer you must be able to handle with failure and learn from it, it comes with the territory. There are a plethora of risks associated with that financial, your time, mental health. Many times people had invested so much into their idea and it fell flat leaving them devastated. You have to know that is a possibilty and you must learn to roll with the punches. Speaking of rolling with punches even in success there are many obstacles that will come along and you have to learn to navigate them.
Co-Founding Creations
I defintely need people to create and modify the applications for the mobile devices and tablets. At the same time I need those who are skilled in the area of mechanics to create the watches.
I am a big idea person, I feel that someone who could really implement those ideas to really get my ideas off of the paper. I also would really benefit from STEM minded people as I am a creative mind.
Figuring out who my customers are and tagging them seems to be my number one priority as I feel it will help get me to gain traction.