Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

My name is Lauren. I have discovered, after talking with people close to me, that I am reliable and independent. People tend to consider me a person they can count on, and if I say I am going to do something, I always do it. In regards to my business concept, this business would probably make a positive impact on me due to the positive effects it could have on the environment. Hopefully, this business would make a good amount of money so my life would be different in that way and I would have 100 million more responsibilities. 

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

This has not changed since the last idea napkin, my business concept is still the exact same. I found that people were really interested in the product when conducting my interviews. I initially thought I would be the one designing the faux animal products, but after talking with a bunch of different people, I realized selling to bigger companies so they can use the material as they choose is a better idea. So my product is going to be a sustainable leather and fur alternative made out of fruit skins, plant cells, etc... It would be created in bulk and sold as material for companies to implement into their products. 

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

The demographic for this product would be anyone who has an interest in animal product alternatives and those who understand the impact that leather has on the environment. It doesn't have to just be people who are educated on it, but maybe those who just don't want to wear animals. The product would probably pertain to a younger audience (20s/30s) and would probably be for a more environmentally conscious shopper. Someone who drives hybrid cars, shops at Whole Foods, vegans/vegetarians, people who have religious or cultural beliefs that make it hard for them to wear leather. 

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

Customers will pay money for this product because the environment is in such a bad state. Everyone knows that climate change is getting worse by the day, and people are really wanting to do anything they can to help. If educated about the leather industry, people will buy this product with the hopes of making a positive difference. Companies will choose this product because it looks good for big corporations to be environmentally conscious. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

There aren't too many competitors in this field, at least none that have had the same goals as me. It seems that most companies who produce faux leather don't have the intention to sell it to other companies as material, they usually make their own products with their faux leather. What sets me apart is my bigger picture viewpoint. I think faux leather should be implemented in every company, at least so consumers have the opportunity to see how easy it can be to make the switch. 

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

I think all these elements fit together. With any business, there is a risk that no one will like the product or it can be a little tricky to get people to understand your vision, so that can definitely be a factor for my product. I would need to develop the perfect leather alternative that people would be willing to pay for and switch over from real leather, so that could be very very difficult.