1. You: I am an analytical, curious, and persistent person who will always stick to their goals until they are achieved. I have started a business in the past, one that won 2nd place on Entrepreneurship competition, as well as been an assistant for two ecommerce businesses. I also was a house manager at a local theatre for 2 years, as well as worked as an usher for 2 years prior to that. I am very passionate about the field of finance, specifically markets, with stock trading being my main source of income. I aspire to be a management director or partner at an investment firm, which is quite an entrepreneurial type role. This business I have come up with would definitely be more of a side hustle to have another source of income. It has been proven that having multiple sources of income is the key towards financial security.
2. What are you offering to customers? I will be solving their dilemma of whether to fix or repair broken appliances, as well as helping them get repair things all by themselves. Using the tool renting service, clients who do not want anyone in their homes (due to COVID-19 or other reasons) will be guided on how to fix the issue without the need of a physical repairman there. Moreover, this app will give customers quick responses that will take away the extra step of the handyman coming in to check out the problem just to have to leave again and come another time.
3. Who are you offering it to?
The stereotypical customer I will be reaching out to with this product is homeowners who find themselves lost when dealing with broken appliances in their home. As far as the demographic, I noticed that seniors usually are more wary about people coming in their home due to COVID-19, so it could definitely reach them. That being said, I also interviewed people in their 30s-50s that saw themselves using this app. That is why I have created a broader category in saying that any adult with a home (not apartment) will and could be interested in this sort of product. As far as the location, I would focus on towns/residential areas and not so much cities as it seems that it is not as big an issue there due to apartment complexes having a handyman available.
4. Why do they care?
This service is very valuable because it will save customer time and money when dealing with broken appliances. Time is the most precious thing humans have so in helping people get a quick and easy solution to their problems, many will see this app is greatly beneficial to their lives.
5. What are your core competencies?
What sets me apart from everyone else is my discipline and persistence to keep going no matter what happens. I have noticed that many people give up really early due to failure, or they lose interest fast and stop putting in the work. I have a very structured way of thinking, so once I set my mind to something, it doesn’t matter if the world is ending, I will be there every day putting in the work to get closer to my goal. This is actually the one common characteristic I have seen in great entrepreneurs.
6. While I do not have much experience coding nor repairing broken appliances, I know that there are people out there who do, so all I need to have to make this happen is the leadership skills to find the right team and bring it all together. In life, one cannot and will not know everything. Instead, one must use a little bit of everyone’s talents to make something great happen. I believe that while my lack of knowledge on the industry might give me disadvantage, my ability to stick to things, lead, and my overall business acumen will overpower the negatives.
Hey Erick,
ReplyDeleteYour idea is very similar to mine in the sense that it is centered around the affects of the coronavirus. Unfortunately, it seems that our window of opportunity is closing very fast, as the general public's fear and anxiety about the virus seems to be dwindling by the day, though unreasonably. People are caring less and less and being less cautious by the day. Though you are very entrepreneurial, it seems like you do not know much about the actual subject of your product and it would probably require you to do a lot of research before hand, as it requires knowledge on tools, as well as coding.
Erick,
ReplyDeleteRegardless of the Coronavirus scare, I have a need as a landlord for this service. I own a rental property about an hour away from my primary residence. As things break in the house, I usually have to go there and check it out and decide what to do to get it fixed. If I could direct the renters to use the app, I could probably save myself a trip. A few times I have gone there and then had to go back again after a part came in or a replacement unit was ready. Your app could save me at least one of those trips.