Assignment 29A - Venture Concept No. 2

1. Opportunity: The opportunity at hand currently in our current state of living. This health pandemic has had a majority of the world in lock down mode, trapped inside their houses looking for something to do. The service I would be providing would be an accessible online teaching / guiding service that would show people how to create graphics, animations, effects, short videos and films, etc. All at the comfort of logging into an app from any mobile or desktop device and start learning. The current state of being trapped inside has people itching to be doing something and some people would even urge to learn something new. I personally know, for example, people who are taking online language courses just to help pass time and so they can gain that advantage of being bilingual during their time of quarantine. Whatever skill it may be the user decides to want to pursue, this would be where my service comes into play and really gives them a viable source of attainable and learnable information on online graphic creating, image editing, animation creation, etc. I believe the current state of change that creates a leveled up opportunity for my company would have to be the state of emergency the world is in currently due tot he COVID-19 virus. I think having people inside, self-isolating away from others is one of the best things we collectively could have done to help prevent spread of this virus. It also gives the amplified opportunity to take advantage of everyone being home, on their mobile devices and computers looking for things to do. This would be where I would take the step of amplifying my online marketing presence on Facebook, Instagram, Twitter, etc. in order to gain as much customer reach as possible. Knowing this would be able to give us a very wide range of potential consumers and customers in this market. Since the service is applicable to people all around the world wanting to learn a specific skill within a industry, there is no need to change settings and edit things due to geographic and demographic differences. The only thing s user would need to be able to access my businesses online services would be a mobile phone/tablet or desktop/laptop, and LTE service or Wifi. Being able to provide all of the instruction and the full service all through being able to access these services through the touch of a button.

Innovation: The innovation or service I would be bringing to the market place would be an application or downloadable online service that aids consumers and users in learning how to create animations and digital graphics, edit videos, make short clips, etc. My service would be accessible to any user that has access to a smartphone, tablet, or laptop with regular service or Wifi. What it would do is give the users detailed instruction on the best methods to learn the ins and outs of editing software and design applications available on the market today. my services would be only the quickest and most effective ways to get things done within these applications to help my users learn how to create and animate on their own. This services will be offered with a 1 month free trial, giving consumers the opportunity to see if the services my application provide are something they would want to pursue. After that I would charge a small monthly fee of $15 a month for users which will give them access to all of the lessons and material provided. Another way I would be able to bring in money would be through the independent lessons and instructions the service provides for customers needing one on one assistance with an employee of mine. They would sit and help complete the task needed via video conference until the job is done. These will be small fees of $5 per 30 minutes of chatting. I believe these prices are fair due to the confidence I have in y employees in not having to take too long to help our customers and not needing to gouge our customers with over priced services.

Venture Concept: I think the accessibility of the services I would be providing to the customers would really be what sets my services apart and really gives the customers the ability to learn virtually anywhere. I think this would be the main reason customers would switch to my product is because they can be on the go anywhere traveling, maybe not during the current state of living, and pick up where they last left off. I think the competitors currently would have to be the software companies themselves and their instructional tutorials they offer in classes alongside their services. Yes those videos do help, but most of the information is unnecessary to actually executing animations and different kinds of edits. My services give customers the best and quickest way to get point A to turn into point B, and so on. If the role of packaging and price points were an issue, this business venture would be very difficult to execute. But since everything is virtual, there is no need for shipping products or distributing materials since everything in online at the click of a button and can be accessed through the application itself. Being an online service I think presents some challenges, but also alleviates a lot of hands on tasks that could be an issue in case things start to get hectic with business. I think being able to monitor user interface and consumer databases as the company owner and coordinator, this would be able to determine the need for backup help, new employees, new service features, etc. On regular depending on the average size of our user base, I would say for every 1,000 to 3,000 users I would have one employee and myself backing their issues and support during their use of the app. The roles of employees in this venture play the part of being there to aid customers if any issues or problems come up during their use of our service.

Three Minor Elements: The most important resource I believe would be the application itself. I do think there are other ways to share my information, but in order to make a business out of it, i think the most effective way to gain customers and exposure would to create a web based app that is applicable to customers virtually anywhere in the world. The thing i think would be hard for competitors to imitate would be the customer service my company provides and the knowledge and information gained in my service only.  I think what is next for the business venture is to find someone to help me develop this app. Although i do know the ins and outs of other services, actually creating an operating application is not in my strong suite. Luckily, I do have multiple friends who are in web development and have created applications before. In 5 years, I see myself still trying to grow this operation or eventually merge it with a larger company in order to attain a larger customer base and compare technology and analytics with a larger organization to help grow our current state of operation.

2. Due to the circumstances that occurred, I was unable to submit my project in on time in order to get some peer feedback regarding my business venture. Although I did not receive any class based feedback, One of the things I noticed while revising my parer was the amount of grammatical errors I found. One other thing I caught myself ding while reading my past business venture concept was that i was speaking in first person during some parts.

3. Not much to change in my business venture based off of class feedback since I did not receive any for this assignment. one thing I did change was the few moments I caught myself speaking in first person, and also the simple grammatical errors found within my post.