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Does this fit my personal vision? (Does this idea work in real life? (Who…
Does this fit my personal vision?
My vision
My talents.
Peer to peer sales skills.
Customer service skills.
I have played competitive games, since they were online.
I have A/V setup experience.
I enjoy the latest and greatest technology.
I have dreamt about owning my own business for a long time.
I am resilient to difficult challenges and failures.
I have a run a small MLM business in the past.
The financial potential offsets the risk of failing.
My current career doesn't have a huge potential for growth.
The risk of failing is less than having the feeling of regret for not trying.
The personal satiffaction of owning my business will offset any fears of failing.
The potential to pay off all my debt is worth the risk.
I want the autonomy of being my own boss.
I want to provide jobs in my community.
Good signs questions
This does not solve a real market based problem.
The start up cost for this would require and considerable amount of savings.
My idea does fit current consumer behavior. E-sports is the fastest growing "sport" currently. With billions of dollars invested each quarter. There is a huge potential for growth.
Does this idea work in real life?
Currently there are e-sports leagues, so yes this does work in real life. However, after talking with a few friends they pointed out that it would be more cost efficient if this were done completely online instead of a brick and mortar store.
Is there a real need?
That is my main concern. While E-sports and gaming in general have grown at a record pace, gaming isn't a need, it is a recreational activity that people can choose to do. My target audience is extremely small. However, the potential for growth is huge if executed correctly. My first few years would have to be run extremely well
Who are my customers?
My other fear is the age of my customers. They would most likely be a younger demographic with little to no expendable income. Many would have to rely on their parents to pay for our services. While there are a few adult gamers, the majority would be really young.
Will this become obsolete?
No, with the increasing popularity of competitive gaming this idea will not become obsolete. While there are many risks associated with this business idea, this is it's biggest strength.
What problem am I trying to solve?
We're trying to help amateur gamers have a place to compete that is not currently available to them.
How do we solve this problem?
Providing a brick and mortar store in southern Indiana
What is my competitive advantage?
There is no place like this locally. Right now a customer would have to travel a few hours for this experience
Who will buy our product?
Anyone who plays online games locally who wants to be more competitive. Younger gamers.
Why will they buy from me?
I will offer competitive pricing and a gaming experience that they won't be able to get locally.
Elevator pitch
Do you wish you could play compete in video game competition like you see online but can't afford to fly to LA or Vegas? We provide a similar experience for the amateur gamer.
Does this fit my risk tolerance?
I know the challenges that come with the unknown of trying something new.
My biggest risk and fear is the financial challenges and capital that will go into getting this business off the ground. How will I pay employees starting out? When do I expect to turn a profit? Those are my biggest concerns.
I am comfortable working on the fly.
How will I manage failure when it comes?
How will I handle possibly not meeting my own expectations?
What will I need help with?
IT- I will need a networking professional to help set up a firewall and maintain our servers.
Accounting- I plan on having an accounting firm keep track of our expenses. While I could save money by doing this myself, accounting courses have given me trouble the past two years. I would want to make sure that our expenses and overhear are managed and read by a professional.
Teammate characteristics
Since I am outgoing, I think someone a little more level headed and laid back would complement me. I think that I would need someone who would be a good trainer or manager of people. While I think that I could do a decent job of training people, I think that having someone else focus the training aspect could help me focus on marketing and sales, my strengths.