Growing Your Social Capital

Unfortunately, as this assignment came up, I realized that I was in a bit of a hole. As you know, if you've read my blog, my product is an alternative to ice cubes, and therefore I was not sure who an expert in my field would be. Of course, there are some companies that sell bagged ice at grocery stores, but I was unable to get ahold of any of these people even after email attempts. I realize that I may have been able to talk to restaurant owners, but I have done that in the past.

I think this experience has helped me to realize that part of being an entrepreneur is recognizing that sometimes, you need to venture into murky water. My idea doesn't have experts to talk to, and this was what made this networking experience unique.

Napkin Idea No. 2

1. Me

My name is Francis Gilday, and I'm an avid surfer and skateboarder from New Smyrna Beach, FL. I am talented in not only these domains, but much more creative outlets, such as music (guitar) and painting. I love to travel, and I've been to places including the Galapagos Islands and a variety of Central American countries.

My current business concept is to develop and distribute a substance, similar to that of a mint strip, that makes what you are drinking taste cold; I think it could consume my financial prosperity adventures if I were to carry out the idea. Not only would I be making money, but I'd be assisting the planet by allowing more fresh water (less wasted in iced drinks) to be utilized for consumption.

2. What am I offering to customers?

Have you ever chewed mint gum and quickly after taken a sip of water? It tastes weird, doesn’t it? It's almost like the water tastes cold, but still lingers with an odd accompanying mint flavor. My product would serve as a similar effect, a strip that you put on your tongue before drinking, that would make room temperature drinks taste cold. However, the strip would be tasteless and not have any other effect on the beverage.

3. Who am I offering it to?

These strips could be sold directly to consumers at grocery stores, but I feel like the largest market could be the restaurant industry. They could supply these strips at the table, where customers could use them to their preference.

4. Why do they care?

People have been fans of cold drinks for years, and this product could revolutionize the market. People can now enjoy their favorite cold soda without experiencing the side effects of melted ice watering away the taste of a sip. Environmentalists could also jump on the wagon, seeing as this frozen and often wasted water that is used in ice can now be distributed to other people who need it.

5. What are my core competencies?

This product is not currently offered, to my knowledge. The closest thing would be mint breath strips, but they contribute flavors that would alter the drinks taste.

I personally feel that these elements of the concept all fit well together, and that the business could be very strong if carried out. The only difficulties I can see would be the research required to create such a product, as also mentioned in some of my comments.

The only feedback I received was positive, or searching for clarification on the science behind my product. Unfortunately, I'm not in any field of research that would enable me to properly answer the "how" of my product, or been able to find answers online because it's a revolutionary idea. For this reason, there really wasn't anything else I could incorporate into my new napkin; mostly everything was the same, in terms of myself, my product, and who I am offering it to.

Elevator Pitch No. 2

Unfortunately, I wasn't lucky enough to have any feedback on my first Elevator Pitch assignment, so there weren't any notes for me to take and consider in this second attempt. However, here is the new elevator pitch!

https://fgilday.blogspot.com/2019/03/create-customer-avatar.html

Create a Customer Avatar

While it may seem like a cliché answer, my product really knows no boundaries when it comes to your typical and predictable clientele. Think about it, who uses ice cubes? Everyone! I'm sure, however, some distinctions may be those who eat out more often, so maybe those that in turn have more money to afford this luxury.

As for my avatar, the common restaurant goer, I think we share much in common; firstly, I love cold drinks, and find ice to almost be a necessity for drinking. I also eat out pretty regularly, so I would be exposed to the strips at restaurants. To me this isn't a coincidence, because eating at restaurants is a pretty common thing to do.