Thursday, October 31, 2019
Idea Napkin #2
1. You
I am a senior finance student at the University of Florida. My talents include math, sports, and investing. I have experience as an investor using applications such as Robinhood and Betterment. I enjoy teaching people how to invest and save money. My aspirations include becoming a financial advisor and becoming my own boss. I want to have a family and I would like to live in San Diego or Charleston. If I were to focus on selling an investment curriculum to schools, I would have to put the rest of my life on hold for a while.
2. What are you offering to customers?
I am offering an investing curriculum to highschools and colleges. This will give students a better understanding of investing before they reach adulthood. My curriculum will include an electronic textbook and a paper trading course.
3. Who are you offering it to?
I am offering this product to any highschool or college that does not currently offer a course on investing. These schools all want the best for their students so they will likely be open to adding a practical course to their school system.
4. Why do they care?
These schools care because they want to set their students up for success. Additionally, by giving their students the best chance to be successful, they are indirectly helping themselves by increasing the potential for alumni donations in the future.
5. What are your core competencies?
I think I have found a great opportunity here because of how few schools offer investment courses. I also think I am a hard worker with a good base of knowledge and a passion for my product. This combination puts me in a good position to be successful.
Conclusion
I think all of the elements of my business plan work well together. The only factor that could compromise my plan is whether or not I am willing to pursue this instead of becoming a financial advisor. I am also unsure as to how willing schools will be to adopt my curriculum.
Feedback from last time
- I should offer a way to make the curriculum appeal to more people. The addition of Paper Trading was a good start on this front
- I found a good reason for schools to care about teaching investing. If students make more money after graduation, they are more likely to donate to the school.
Overall there was little negative feedback so this idea napkin is pretty similar to my first one.
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Hello Sean! I think your personal skills, experiences, and aspirations will prove useful in the case that you do bring your business concept to life. I noticed that you mentioned offering a curriculum to high schools and colleges and, while I think that’s a good start, I believe incorporating financial literacy earlier on in an individual’s life would be even more ideal. I do like your reasoning, however, where you mentioned greater donations going back to schools – it could be a good point to mention when trying to sell to schools.
ReplyDeleteSean, I think that your background knowledge in school as well as what you have done with it provide you a suitable base for your idea. I think that schools do not teach nearly enough life skills, and this includes investing. By teaching students at a young age about the power of investing this will provide them with the realization that there is a way to make money they earn work for them and the earlier one starts investing, the better.
ReplyDeleteHey Sean! I think your idea about offering a course to students on how to invest would be a very profitable idea simply because many students wish they could invest their money or put their money somewhere it is not stagnant without the fear of losing it. I find it very interesting you would like to live in San Diego some day because that is one of my top places in this country and I would move there in a heartbeat if the opportunity arose. The only aspect I believe you could include or add to your opportunity is proving subscription to educational videos where students can learn on their own time and by using the advantages technology has given us.
ReplyDeleteHey Sean,
ReplyDeleteI think your skills and past experiences definitely cater to your idea. Schools have not updates the foundation they build upon in a long time, and I think adding more applicable life skills to the curriculum would fit in well with the changing times. I think you did a good job adjusting your idea napkin from the first time by imrpoving details and expanding some ideas.