Wednesday, October 2, 2019
Idea Napkin No. 1
1. You
My name is Sean Cole. I am a finance student at the University of Florida. My talents include basketball, football, darts, video games, and managing money. I have over two years of experience with investing using tools like Betterment and Robinhood. I also have a website aimed at teaching people how to invest. My aspirations include becoming a financial advisor and being my own boss. I want a family and I want to live comfortably in either New Jersey or South Carolina. If I were to execute this business plan to sell an investing curriculum to schools, it would be a side job or I would do it before getting a job as a financial advisor.
2. What are you offering to customers?
My business plan is to create a curriculum about investing that I can sell to high schools and colleges. This would include the creation of an investing textbook with the help of experienced investors and equity professors. I would also add a paper trading aspect to the curriculum (idea courtesy of one of our fellow classmates who recommended that). This curriculum would give students a solid base of knowledge to begin investing.
3. Who are you offering it to?
My customers for this idea would include high schools and colleges that do not currently offer investment courses. These schools have a few things in common. School's are full of students who want to learn more useful things. The combination of students wanting to learn about investing and school's tendency to take their students opinion into account creates a good opportunity for my business plan.
4. Why do they care?
High schools and colleges will care about my product because it puts their students in a better place after graduation. Aside from the fact that caring about others is the right thing to do, there is another reason why this may be enticing for educational institutions. If the school's alumni are proficient in the principles of investing it will likely lead to those alumni becoming financially stable. More financially stable alumni will result in more donations to the school so it will be beneficial for the schools to offer investment classes.
5. What are your core competencies?
Investment curriculum has been implemented in a very limited amount of schools. I am very passionate about the benefits of investing and I also have an entrepreneurial mindset. This combination puts me in a good position to pioneer this area of education, although it will not be without it's challenges.
Conclusion
I feel that most aspects of my business plan gel together well. The only doubts i have about my business plan is how willing schools will be to adopt this curriculum and when I will have time to work on this plan. If I were to focus completely on this idea I would have to push back my aspirations of becoming a financial advisor. Even if I were to do this, the success of my plan would be contingent on the openness of school's to change their course offerings.
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Assignment 11A
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Hi Sean! I was immediately interested in your post, as I saw you mention that you are a fellow finance student. Personally, I am extremely interested in finance, including investing; however, I have noticed that this topic typically doesn’t interest most people as much as it does for finance people. I appreciate you noting a previous recommendation of mine, so, I urge you to consider marketing your potential curriculum in a way that may appeal to the greater majority of people. Making it fun or relating investing to other topics that are of greater interest to most people may work. I will try and think of other ways, but in the meantime, I would try and solidify how to approach the curriculum you speak of.
ReplyDeleteHey Sean!
ReplyDeleteYour idea napkin is super detailed and I am impressed with how much you have planned for the future. I think high schoolers would be very interested in basic investing because they are eager to learn about the real world and are excited to make and manage money. I liked your point on how it would make students more money which would make them more likely to donate back to the school.