SecureU 24A – Venture Concept No. 1
Opportunity:
My target customers are those who own or are in charge of businesses. These business owners are in need of a form of financial security that tracks of the flow of their money. This need comes from an exchange of financial records and numbers between workers, and even the distribution of company cards. This market is geographically located anywhere with businesses large enough to fear financial security, and demographically encompasses all who have businesses. Potential customers satisfy this need through honor systems and basic accounting to track company finances. Potential customers are relatively loyal to this system, it depends on what they are whiling to spend to secure their finances better than an already faulty system of plug and chug accounting. This opportunity is relatively big, and the window of opportunity is always bigger when the customer is just starting out but will stays at least cracked as the company grows.
Innovation:
My company provides a product and a service. The product is a software program that is run on company computers to track the in-flow and ex-flow of money. Within this software are triggers that activate when certain scenarios occur in the system that resemble fraudulent use or movement of company finances. The service comes in when a trigger occurs, members of my company will immediately start investigating the cause of the trigger whether it be a mistake or a trafficked company card. Depending on how large the company is and how many people have access to the company's finances dictates the rate of cost for the product and service. The consumer is signing up for a monthly subscription to the product and service, and will be charged an initial installation fee.
Venture Concept:
My innovation will address the opportunity by filling in where the honor system and basic accounting lack validity, in terms of financial security from the inside. By applying my product companies will be better secure in the finances, imagine a security that you would have for your computer or your home but apply that to a companies finances.Customers will buy this innovation because security of finances is just as important as what keeps the finances coming in, without security you risk destruction from the inside out as workers fraudulently use a companies hard earned income.
Why make the switch? Because whether you already have some form of security or not, my product guarantees that we care not only about your money but the growth of your company. We want to grow alongside customers and build social capital and family bonds between partners. Making the switch is easy as long as you are able to understand that monthly investment made is one that is worth the security of your company.
Who are the competitors? Other companies may be able to provide financial security, but they lack the heart of genuine growth. We stand by being more than business partners but family members. Other companies do not have the 24/7, domestic service like we do either. You will talk to real people when you need it or when we find a trigger in the system.
How is it organized? As we grow we want our services and employees to grow as well. Starting off a majority of our instillation team and service providers will be the same people. Have all of our employees trained to handle both tasks will allow us to be as efficient as possible as we start to grow. Later on down the road we would like to see to separate departments for the the two services as well as employees who can be on cite when installing or answering any questions about the product.
My secret sauce will be my family friend Christine. Not only does she have a large network of business owners, she herself, runs five private practices and a not-for-profit. She will not only be able to promote my product to her network, but with her experience come many different ways she can help me refine my product from the eyes of an honest consumer.
My next move is to target non-business owners. I want to also provide a financial security service for the average person. I want to help them manage and keep track of their money and work with them to figure out the best way to insure financial security in the long-run.
In the next five years after the launch of this venture, I would like to be able to start the average person financial security service and later on sell the company. Selling the company would open doors for me to invest in other larger projects that I might come up with later as I begin to see different needs through the working of this venture.
My target customers are those who own or are in charge of businesses. These business owners are in need of a form of financial security that tracks of the flow of their money. This need comes from an exchange of financial records and numbers between workers, and even the distribution of company cards. This market is geographically located anywhere with businesses large enough to fear financial security, and demographically encompasses all who have businesses. Potential customers satisfy this need through honor systems and basic accounting to track company finances. Potential customers are relatively loyal to this system, it depends on what they are whiling to spend to secure their finances better than an already faulty system of plug and chug accounting. This opportunity is relatively big, and the window of opportunity is always bigger when the customer is just starting out but will stays at least cracked as the company grows.
Innovation:
My company provides a product and a service. The product is a software program that is run on company computers to track the in-flow and ex-flow of money. Within this software are triggers that activate when certain scenarios occur in the system that resemble fraudulent use or movement of company finances. The service comes in when a trigger occurs, members of my company will immediately start investigating the cause of the trigger whether it be a mistake or a trafficked company card. Depending on how large the company is and how many people have access to the company's finances dictates the rate of cost for the product and service. The consumer is signing up for a monthly subscription to the product and service, and will be charged an initial installation fee.
Venture Concept:
My innovation will address the opportunity by filling in where the honor system and basic accounting lack validity, in terms of financial security from the inside. By applying my product companies will be better secure in the finances, imagine a security that you would have for your computer or your home but apply that to a companies finances.Customers will buy this innovation because security of finances is just as important as what keeps the finances coming in, without security you risk destruction from the inside out as workers fraudulently use a companies hard earned income.
Why make the switch? Because whether you already have some form of security or not, my product guarantees that we care not only about your money but the growth of your company. We want to grow alongside customers and build social capital and family bonds between partners. Making the switch is easy as long as you are able to understand that monthly investment made is one that is worth the security of your company.
Who are the competitors? Other companies may be able to provide financial security, but they lack the heart of genuine growth. We stand by being more than business partners but family members. Other companies do not have the 24/7, domestic service like we do either. You will talk to real people when you need it or when we find a trigger in the system.
How is it organized? As we grow we want our services and employees to grow as well. Starting off a majority of our instillation team and service providers will be the same people. Have all of our employees trained to handle both tasks will allow us to be as efficient as possible as we start to grow. Later on down the road we would like to see to separate departments for the the two services as well as employees who can be on cite when installing or answering any questions about the product.
My secret sauce will be my family friend Christine. Not only does she have a large network of business owners, she herself, runs five private practices and a not-for-profit. She will not only be able to promote my product to her network, but with her experience come many different ways she can help me refine my product from the eyes of an honest consumer.
My next move is to target non-business owners. I want to also provide a financial security service for the average person. I want to help them manage and keep track of their money and work with them to figure out the best way to insure financial security in the long-run.
In the next five years after the launch of this venture, I would like to be able to start the average person financial security service and later on sell the company. Selling the company would open doors for me to invest in other larger projects that I might come up with later as I begin to see different needs through the working of this venture.
Hey Mitchell,
ReplyDeleteI think your venture concept is very good. Dealing with finances can be complicated and basing it off the honor system can be bad when you have very greedy people. Financial services can also be complicated so making it affordable for the average person is smart.