Wednesday, February 10, 2016

Napkin No.1

1. My name is Michael Sacks and I am a sophomore studying Business Administration at The University of Florida. This is my first semester in the business school, so I am starting to get a grasp around the business culture and what is has to offer.
2. I am offering my customers a way to save time, learn more information, and be more efficient in day to day tasks. I am offering a service that teaches and provides studying techniques and methods, along with applying them to specific classes and areas of study. I also want to integrate a tutoring system of students to earn some extra money.
3.My main customers will be the millions of college students and my secondary customers will be high school students.
4. Students care about their time, and if a student can study more efficiently and faster, it's to their benefit to do so.
5. My core competencies would be communication and teamwork. I work efficiently and I like to work on large projects with groups of people I know will do just as much work as I will.

I believe these elements fit together, and they need to for a business or idea to work properly. I think for my idea and concept to move forward these concepts need to be evaluated and planned out. I need to create a detailed business plan, along with detailed plans of revenue for investors to see and hopefully want to back my company.


4 comments:

  1. Michael,
    I think you are on to something here. Seeing how we live in a day and age where education is very important in order to succeed in life, I really do not see your idea failing. In fact, I would totally enroll in one of these classes. I think this was a great first "idea napkin." If you have time, check out mine as well. It is http://bongjukang.blogspot.com/2016/02/idea-napkin-no-1.html

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  2. Michael, I think your idea to help students learn is a really great business that will not only benefit the students but our world as a whole by having people with more knowledge. I think this is going to be a great class for you in considering you are a business major. My business was creating an app that will help individuals locate their cars in large parking lots. Here is the link if you are interested: http://ariellechristina.blogspot.com/2016/02/idea-napkin-no-1.html

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  3. Michael, I think you have a great idea, especially with the increase in demand for educated employees. Recruiters look for successful students, and your service will help to provide those students with the knowledge they need to be successful. One question I have is what will set your business apart from others in the industry? Many colleges offer similar courses to help students succeed, as while as third parties who offer tutoring services and helping students learn how to be successful in school, what would make your business stand out? I look forward to seeing how your business develops!

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  4. Some college campuses, such as University of Tampa, offer a tutoring system where they pay students to help tutor other students. The one thing I do think that UF could use is a tutoring service to offer tips for each specific classes, as you had said. For instance, I am in a management course right now and I am having a really hard time with studying because it's very definition based and I'm excellent at doing classwork/homework but not taking exams with 6 chapters worth of definitions once a month. When I reached out for advice or help I was only responded with 'whatever is in the lecture or book is all fair game.' That didn't help me AT ALL with what techniques I could do to help me study and prepare for the next exam, maybe they could have shared what past students have done. So if you had a service like this, it would alleviate all of this unnecessary stress. I will be the first one to sign up! Teamwork and Communication would be some of the most important competencies to have under your belt when going into this business, so it does sound like you have a firm understanding and handle on getting the business up and running.

    Here's my Napkin Idea: http://niblaidoc.blogspot.com/2016/02/idea-napkin-no-1.html

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