Opportunity Belief

Belief: There is a need for a program that would guide on the process of utilizing your current skills to make money online, or even allow you to learn new ways of bringing income.

Description: I believe that because of coronavirus, people in the hospitality/entertainment industry are in serious need of additional income/side jobs. This need has been starting to appear more and more as brick and mortars shut down, and online commerce begins to take over. That being said, due to the recent pandemic, this need has grown exponentially. There are many in need of extra income as their jobs are being negatively impacted by the closings. People in the entertainment industry have resorted to doing their specialties online, for example teaching on zoom, but are finding it difficult to get started. It is something completely new for most, causing them to feel intimidated or lost. I am 80% sure this opportunity exists.

 

Prototypical Customer 1: Professional Singer at a nightclub

 

What is the exact nature of the need?

“I used to have a fixed salary coming in, as I would perform on weekends and rehearse on weekdays. I relied on that to pay my bills, so I am in need of a way to make more money in the current circumstances.”

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?

“I would say that this need is more present because of what is going on in the world. That being said, in the past I have experienced gaps where I was between gigs and did not have a steady source of income.”

How long have they had the need? When did they first become aware of their need? Why? “I became aware as soon as my place of work was forced to close, and my services were no longer required. I have had this problem throughout my career at different times, but it is a more pressing issue now.”

How are they currently addressing their need? How satisfied are they with this solution?

“I have been trying to do performances through Instagram Live, having a company sponsor me. I think a program that would help guide me through the process of transitioning online would be great. I still struggle at times to come up with ways to make more money using my skills on an online platform. I am also open to learning new things that could make me extra money. The only thing I would say is you would have to find a way to make this service very affordable as times are tough.”

 

 

Prototypical Customer 2: College Student + Front Desk Agent at Hilton

 

What is the exact nature of the need?

He is a student with bills to pay so this has made an impact on his life. He has been looking for a way to fill the gap due to the large reduction of hours he is working.

 

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?

“I’m always looking for ways to make more money, but I would say I did not really have this need until corona.”

How long have they had the need? When did they first become aware of their need? Why?

“It really started to hit during mid-April. I realized I no longer would have the same flexibility as before and would need to cut back on expenses.”

How are they currently addressing their need? How satisfied are they with this solution?

“Honestly, I haven’t been doing much. I have been watching some YouTube videos on stock trading, so I may give that a shot. I think a program that could help me learn something new that makes money could be cool. I just don’t think I would pay for it. Especially now where everything seems to be on YouTube, the program must offer something very special that differentiates itself from what is already online.”

 

Prototypical Customer 3: Store Manager for Purdy’s Chocolatier

What is the exact nature of the need?

“I am a mother of two and have been struggling to pay the bills due to the closing of Purdy’s. If it weren’t for the government help and the few online jobs I have picked up, I don’t know what I would do.”

When do they become aware of the need -- that is, do they experience their need all the time or only sometimes?

“I have always been a little short on the money so I would say I have had this need for a long time now. It just got significantly worse because of the pandemic.”

How long have they had the need? When did they first become aware of their need? Why?

“Once it got declared a pandemic, I knew things were going to get bad.”

How are they currently addressing their need? How satisfied are they with this solution?

She has picked up some online jobs using her skills, as well as with the government aid. She said that this idea is great as it is what she has done to stay somewhat afloat. “I am a huge proponent of transferring your skills to online platforms, as it is what I have tried to do for many years now. I could always use more side jobs and a program that helps me do that would be very helpful.”

 

Reflection:

I learned that there are many people struggling to pay their bills because of this pandemic, and that they are willing to put in the work to make ends meet. I also realized that a different strategy (ads/sponsorships) would have to be used in order to make this service either very cheap or free to its users. It seems many are feeling a bit lost, so they would greatly benefit from a service like this.

 

Summary:

 

Overall, there is definitely an opportunity out there for this kind of service. That being said, it would have to be done in a way so that it is affordable for its users, and also stands out in comparison to other platforms already out there (YouTube, Udemy, etc.). I believe that reaching out to potential customers was critical to understanding the needs out there and what people are feeling. This new opportunity is definitely more accurate because it allowed me to scope into more detailed issues & potential solutions. Entrepreneurs should definitely take what customers are saying into strong consideration because they are the ones who will ultimately decide whether they use the service or not.