11A – Idea Napkin No. 1

1. You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

I am Cesar Yapura, I am an information systems student at the Warrington business college at UF. I  have mild experience in graphic design and won the power of design award at Catalyst. I have some web design experience and have set up websites before. I'm not a great public speaker but I can power through it when needed. I want to graduate and start working in the private sector and eventually start my own business after acquiring some experience and capital. I see the development of the concept as benefiting me in my future endeavors by teaching me through experience. It would likely give me experience in attempting entrepreneurial endeavors in the future and increase my future success.

2. What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs).

I'm offering to customers the possibility to be healthier, to save money and to save energy by substituting their old CFL lights with led lights in a convenient manner. According to www.energy.gov/energysaver/save-electricity-and-fuel/lighting-choices-save-you-money/led-lighting LED's are the most efficient way to light your home using the least wattage per lumen emitted, last longer than other light bulbs, are sturdier, are safer and being easier to install in parallel due to lower wattage concerns. The service is providing information conveniently laid out, a call to action, and the convenient ability to purchase LED bulbs that satisfy your needs.

3. Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

I'm offering it to people who own a home and pay for their own electricity bills. Also, they are willing to invest some money in this product and they are not looking for short-term benefits. They would likely be older and around 40-65. I would also like to offer it to businesses that would like to renew their image. In fact, customers are also concerned about the environment and are interested in protecting the Earth, but I found it a lot easier to interview people rather than businesses.

4. Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service.

People will pay money for this product because of the benefits derived from its purchase. First of all they would save money on their electricity bills. Secondly, they would save energy and reduce pollution, providing also eco-sustainability for businesses. Which seems to be a big part of modern day branding to be seen as a socially conscious and sustainable business. In addition to this, customers would the avoid mercury risks of breaking the fragile CFL bulbs, which could provide another layer of peace of mind.

5. What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?

My core competencies are in offering a simple, convenient way to do this with information provided. Convenience, intuitiveness and ease of access above all else seems to be the core driver of behavior. I even see this reflected in myself. Where my actions are largely motivated by what is convenient to me.

6. Do these elements fit together? Are there aspects of your business concept that are weaker/out of joint with the others?

They somewhat fit together. I am competent in graphic design and have some experience in web design, and setting and hosting a website and am entering the logistics part of my information systems courses. The core competency is weaker than the others since it in itself isn't that well differentiated from the existing products as I would want it to be. I need to work on distinguishing it and finding a niche that isn't being catered to yet. Although there are existing resale businesses that seem to make that model work.