1. I am someone who is patient but eager to take risks when I believe the time is right. I think I am logical and able to think through different situations and problems from several different angles. My creativity is definitely one of my most beneficial attributes. I have had several years of entrepreneurial experience and competed in some competitions, so I definitely aspire to be an entrepreneur of some type. If I were to actually start this business, it could play a significant role in my life depending on its success.
2. I am offering a product that will solve several unmet needs for people who enjoy fishing or do it for a living. Transporting fishing rods in vehicles often damages the rods or tangles the lines, which is extremely inconvenient. To solve this problem, people use holding racks inside of cars that keep the rods in place. Current products on the market are extremely expensive and outside of the budget of many people in need. My product will meet this same need, but be made of much cheaper, but effective, material. Although it won't be as aesthetically pleasing, it will fit in the budget of a much larger audience.
3. I am offering this product to anyone who regularly, or even occasionally, goes fishing and owns their own fishing rods. Most of my customers will most likely go fishing often, as this need will be a high priority for them. Overall, all of my customers fish one way or another.
4. Customers will want my product because of its price point. Current fishing rod racks on the market are made to look nice out of unnecessarily expensive materials and often costs hundreds of dollars. My product will meet the same need and do just as good of a job, while being much cheaper due to the use of cheaper materials. Newer and many young people who fish do not want to spend a significant amount of money on this product, so mine will be extremely appealing.
5. My product is set apart mostly due to its price. Though it is extremely similar to other products meeting the same need, due to the lack of possible variation, it still does the job just as well. It might not look as nice or luxurious as other products, but its price should be compelling enough to attract customers.
Overall, I believe these elements of my business concept fit together quite well. If I were to do things correctly, I do think it has potential to have a lot of success. However, the one thing I do worry about is the lack of aspects setting my product apart. My product is essentially only set apart by its price, so that could be a potential downfall.
Hey Brandon, I didn't know that you had won entrepreneurship competitions, that's pretty awesome. I think your product can look just as good as the competition while looking real sleek. You might have high end materials but you can make for a rugged look that goes well with the pimped out Jeeps that all over the place nowadays. Great job on the product!
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