Business creation

 

Coming up with the idea
 

What should we sell?

 

-We began by interviewing hundreds of students on BYU-Idahos' campus. We asked them questions such as: What do you dislike about BYU-Idaho or Rexburg idaho? and, What do you wish BYU-Idaho had on campus? 

 

-We were able to find a couple of themes from these interviews. One of which was that there weren't many cool places to shop for clothing and accessories.  We thought we would be able to help with this need the students had.

 

-I proposed the Idea of wooden watches. We did many more interviews and we got back some very positive feedback. we decided to run with it. 

 

-We came up with a Name, Logo, and a way we wanted to brand our company. We decided we wanted to creat an awesome brand that would allow us not only to be a watch company, but allow us to pivot and change if the watches didn't work out as well as we had hoped.  

 

How are we going to sell it?

 

-We created a business model canvas which outlined things such as:

           -Customer Segment.

           -Customer Relationships

           -Value Propositions

           -Key Activities

           -Key Partners

           -Key Resources

           -Cost Structure

           -Revenue Streams

-As we filled out this outline we had a better understanding who we wanted to sell to, what we were going to sell to meet their needs. And how we were going to provide them with that. We ended up having to make many changes to our strategy throughout the semester. 

2010 - present

2010 - present

What did I learn?
 

-Awesome products dont necessarily sell.
 
-Products that meet the needs of the customer sell.
 
-What i think is not what others think. I need to make decisions based on data and not based on what i think will be a good idea, and what i think other people will want.
 
-Always be willing to change something if it isn't working.