Venture Concept No.2

 

Opportunity:

Being a full-time student, growing up with working parents and being surrounded by busy people made me realized that there is an opportunity to help busy people out. Running errands is an essential part of people's lives but it is also an activity that takes up a lot of time. Many people also find errand running tedious and stressful. The opportunity lies with people that have busy schedules, cannot run errands themselves or dislike running errands. These people need a way for errands to be run for them to relieve their strain on their time or stress that is associated with running errands. This opportunity would be quite big as many people would rather have their errands done for them than do it themselves. Currently people hire delivery services but most of the time these services are specific to food related establishments.

 

Innovation:

In order to exploit this opportunity, there would be a service that would run errands for people that do not have time to run errands. This service would run on a platform similar to delivery apps like UberEATS. People would be able to place an errand request by selecting what types of errands they need done. This platform would be key to make sure that the company can provide a great service for the costumers. Without a strong platform the communication between the company, suppliers and the costumers would be lacking. Stores, restaurants, offices, and more would be able to offer their product on the app and the costumer can select multiple products from different locations. If they need a more specific errand like delivering an invitation to someone, they can create a custom errand and include specific instructions for that errand. This is a service that would be better than the delivery services that exist now because it allows users to order from different locations, different product types instead of ordering food products exclusively. 

 

An idea of how the service would work for the costumer:

1. The costumer is talking to a friend and mentions that they have a huge errand list to run but are super busy. Their friend tells them about this amazing new service that will run errands for them.
2. The costumer downloads the app and creates an account.
3. The costumer browses the different stores, companies, restaurants etc. offering products. 
4. The costumer clicks on each store and adds the product that they need from the store to the cart. They can add products from more than one vendor in one order.
5. The costumer remembers that they need to send a birthday present to their best friend today. 
6. The costumer selects the "custom errand" option and gives the errand runner specific instructions. (ex: I need you to swing by my office (at this address) and pick up the package and deliver it to my friend(at this address). 
7. Pay for the order 
8. Track the progress of the order
9. Earn rewards for the order
10. Come back and use the service! 

Venture Concept: 

Costumers would switch to this service because it will allow them to get their errands run without having to do them themselves. They will use this service over the existing delivery service because they will offer delivery for more than just food. This service also allows costumers to request specific errands that no other service provides. The service will retain their costumers because there will b a loyalty program, great costumer service and great service quality. My competitors only offer food delivery form one location at the present time which is a great opportunity for me to get costumers easily. It would not be hard for costumers to switch as they would just need to download and start using our app. This service would also be great for local vendors as they will be able to sell their products in a platform that doesn't require costumers to visit their brick and mortar location. The business would need a tech team to create and run the application, a costumer service team, a financial team to run the business finances and a team to market the service to suppliers (companies that would sell through our app) and costumers. The company would be small at first but it would expand as the geographic locations that the service will be offered in grows. There will also need to be an interest from independents people that will want to be the drivers for the company. 

Three Minor Elements:

1. The most important resource to make this opportunity a reality would be financial capital. As this is a new concept, and a start up we will need to get money to get the company set up and begin running
2. What is next for the company is offering the service in different countries. 
3. What is next for me is to be in the top management for this company. I would like to offer partner services that would help people with busy schedules out. 

Feedback:

The feedback I got was really great. The people that reviewed my concept said that my concept was well thought out and detailed. My strong point was describing the benefits for my costumers as well as the long term plan for the company. The feedback didn't really ask me to change/add anything.

From the feedback I got I didn't change much. I reinforced the areas that my peers identified as the strong ideas in my concept and added a few more details to make the concept better. I added more details about how the costumer would use the service as well as benefits for the vendors.