Venture Concept No. 1

Creating an Opportunity from a Popular Product

A majority of the population has some type of mobile device and with the increase popularity of these products also comes all kinds of apps and services for their devices. As popular as these devices are not everyone has the time, knowledge or patience to manage them. So they turn to shortcuts like the ones below:

• apps they that help them manage and control data usage
• maintenance and performance issues
• security

So there is a market out there for new ways for consumers to maintain their mobile device. As new upgrades or new mobile devices enter the market there will always be some opportunity to add a service or product that the consumer may want or need.

Innovation is Key

 Consumers love to save time and money. So I’ve introduced a way for them to not only control how and when the data should be used also be able to check on maintenance and performance on their device all in one simple and easy to use application. My product is all about maintenance and manageability of mobile devices speed, functionality and date usage. Mobile device owners can make these kinds of adjustments, changes and look this information up on their own, but why should they have to dig through their settings, look up data usage when all of it can be done in one application. Not all consumers are tech savvy when it comes to a mobile device which is why my apps come in handy, the ease of which they can manage their devices with just one tap and one app.

There are different ways my app will generate revenue:

1.      a generic version for a low or free price and then have the option to do an in-app purchase to the full version

2.      opportunities for purchasing upgrades as the app abilities and features increase

3.      sell banner ad space that will be displayed in my app

Venture Concept

 Not all applications are created equal and there is an abundance of performance/management based applications for consumer to choose from. My application will stand out from the rest because I will be offering an all in one easy to use and understand product. With font and images that distinguish what each thing does within the application; making it extremely user friendly.

This will be a small start up with 3 employees including myself, who will help develop, expand, and manage the application. We will have an app developer, graphics and marketing, and I will run the business side/strategies.

Three Minor Elements

•  Most important resource would be human capital
• Expanding the product to include other performance base functions not just for mobile devices but other computing product 
• This startup would be a first step launch to be coming independent in a way have not been before as my own boss calling all of the shots. If this takes off and becomes successful I see myself moving forward and developing other start ups in other areas other than technical, possibly in real estate

Amazon Whisperer

Amazon Whisperer, What's Next?

1)      Describe the revenue drivers you currently include in your business concept for this class. Revenue drivers are the different ways you make money. 

One of the ways my app would make money is to offer a generic version for a low or free price haven’t finalized that yet and then have the option to do an in-app purchase to the full version. With opportunities for purchasing upgrades as the app abilities and features increase.

2)      Describe what kind of product offering you believe should be next. What's the next thing your customers want?

Since my product is all about maintenance and manageability of mobile devices speed, functionality and date usage regarding apps, it will need to expand to include the mobile device itself not just the apps function of the device.

3)      Describe how this "next" thing will enhance your existing product/service offering. Does it improve the user experience, does it increase customer switching costs, does it foster customer loyalty, etc.?

I think it will improve the consumer experience because it will make managing their mobile devices a lot easier and simpler, anything that can save them time they will like and appreciate. 

4)      Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.

I found something similar called the “App Killer” it’s an app that let’s you see what process are running, hide applications, and uninstall apps, just to name a few. 

http://www.amazon.com/Pixatel-App-Killer/dp/B0075BJCHE/ref=lp_9408936011_1_15?s=mobile-apps&ie=UTF8&qid=1459118699&sr=1-15

5)      What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

The app has a 3.7 of 5 star review (79 Customers reviewed this product) with most of the reviews stating that it works well, it does what it was intended to do. Some of the negative reviews stated that it didn’t perform well, didn’t kill all of the applications running, and easier to just go the settings and do the work yourself.

6)      Describe what design/usability changes you'd make to the product. 

The product seems pretty straightforward but I would work on the fact it doesn’t kill all the apps.

7)      Describe why you think this product would make a good addition to your current product/service offering.

It would work for my product because it will help making managing app easier for my consumers with one easy step versus having to go through all the different settings and making the adjustment you want on your device. Not all consumers are tech savvy when it comes to mobile devices which is why my apps come in handy, and even those consumers who do know how to mess with their devices they too will like the ease of which they can manage their devices with just one tap and one app.

Week 11 Reading Reflections

Reading Reflection: "You Need an Innovation Strategy" by Gary Pisano

For each reading reflection post, I ask you to address the following areas:

1)      What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

To me what stood out most was when the article referenced how the innovation strategy needed to have a clear concept and it needed to closely align to the company’s business strategy and core value.

2)      Identify at least one part of the reading that was confusing to you.

I didn’t find any part of the reading confusing but would have a liked to have read more on the supply-push approach and how it was implemented with more real life examples.

3)      If you were able to ask two questions to the author, what would you ask? Why? 

Are there steps a company can take to ensure that conflicts do not arise in the intertwining of the innovation and business strategy, when one department feels funds should be allocated towards more the business side than innovation side. And if so how this plan could be implemented.

4)      Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How? 

I didn’t disagree with the author regarding the article and didn’t have questions that needed to be answered. I thought the article provided some good information and real life scenarios and examples that made reading it interesting and could easily understood what the author was trying to convey.