In terms of where I am right now, making an official business plan and seeking out investors is what's next on the agenda.
Based on my interviews and my own thoughts, I'm going to give my opportunity more thought and do more research to see how plausible this idea truly is. I agree with doing this before I go on to a later stage of this process in order verify if this is opportunity is truly worth the time or if I should start over again. Once I figure this out, I can then put together an adequate business plan and find people who are willing to invest in my business.
In order to solidify my plan, I will interview some more people in my customer segment and get their thoughts. I will talk to more people with experience in entrepreneurship for advice and tips moving forward. I'm hoping most believe in this idea like I do so that I can continue moving forward with it.
A different market for me to target would be businesses, B2B. Companies may want to be in affiliation with a certain coffee company to keep staff awake and energized throughout the long work days, so I can sell my products to them in bulk so they can have to readily make.
Based on the interviews, I learned that this market doesn't necessarily have a demand for affiliation with a coffee company, though one said he wouldn't be opposed to the idea. My assumptions weren't necessarily correct. This market is not as attractive as my existing one.
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Final Reflection
Putting a lot of work into some of my posts like the first venture concept and forgetting to post the links sticks out to me. I'll remem...
Hi Abby,
ReplyDeleteI think that you chose the right steps to come next. I like how you are going to take some more time to plan out your idea and see how feasible it is. Interviewing some more people will hopefully help you gain a little bit more of an idea as to how exactly you want to go about it. I think that you have the necessary skills to follow through with your goal. Can’t wait to see what comes next!