Idea Napkin No. 2

Idea Napkin No. 2

1) You. 

Most of this section is going to be the same as the Idea Napkin No. 1. I am a junior at UF who is very sociable and enjoys spending time with friends and family. Since classes, tutors and playing lacrosse take up much of my time, when I do get free time I like to use it to the fullest. I am a very motivated individual that is devoted to the things that interest me. I enjoy making others happy. I believe the social aspect of college is one of the most important. College is where you shape who you are, who you will become, and establish a core group of friends who will stay in your life for a long period of time.

2) What are you offering to customers? 

The service I will offer to customers is an app called Future Pay that allows you to pay hours ahead of time to get into your favorite Midtown bars. This will speed up the long waiting process to get into the bars. It will be a more efficient system for both the bouncers and the bar goers. If you have paid and end up deciding not to attend the bar, you will be able to use the payment towards another night you wish to go out. To deal with the issue that it may be difficult to upload your ID and therefore detect fakes, once you are recognized as 21 and have shown your ID to a bouncer, you will be uploaded to an online system. A star will appear next to your name to indicate that your ID has previously been checked and you will not ever have to show it again. I will also extend the app so you will be able to order and pay for drinks while you are at the bar to avoid the frustration of trying to flag down a bartender.

3) Who are you offering it to? I will still offer this product to UF students who like to go out in Midtown. Most, if not all, of those who go to bars in Midtown are college students. The bar owners and bouncers of the bars will also be offered the app because they will have to operate their business through Future Pay in order to manage how many people they allow into their bar. In addition to Gainesville, I will also offer Future Pay in bigger cities such as Jacksonville and Miami.

4) Why do they care? 
 This service will be valuable to customers because the last thing people want to do when they are going out is to wait in a long line and deal with obnoxious people trying to cut them. With Future Pay, lines will hopefully be eliminated completely to make for a much more efficient system than what is currently in place. The process of ordering a drink will also be much less time consuming and frustrating to ensure a positive bar experience. Especially in Gainesville, the social scene is very important to the culture of the University of Florida so it is necessary to make it as appealing as possible.

5) What are your core competencies? 
What sets me apart from most people is my constant drive, determination, and motivation to complete my goals. I am able to work through adversity and failures have never caused me to give up. I am very independent and self motivating which would be vital to working on the completion of Future Pay.

I believe these elements fit well together with the concept of my business idea. In order to make a new app work, you must have confidence in yourself and be willing to accept failures. I have never been someone who gets discouraged when things don't work out at first. These are very important traits when working to become an entrepreneur because there is no doubt that you will faced with obstacles, difficult decisions, and failures before you are successful.

Feedback Memo

The feedback I received was very helpful in shaping my business idea. The aspects of my idea that were week is the fact that it will be hard to scan your ID to an app and have it recognize whether the person is 21 and over. I recognize that with this issue, the idea of Future Pay may not even speed up the waiting process at all. A few changes I made were the online system that keeps track of a history of bar-goers who have already been identified as 21 or older. I also added a drink ordering feature to the Future Pay app that will hopefully assist people in getting drinks more efficiently. Overall, the feedback was positive, but also critical and helped me better transform my idea.