Idea Napkin No. 2

1) I didn't receive any feedback on my first idea napkin post, so I'll do my best to scrutinize it myself. I think the first time I focused too much on why I would be more successful if I had an incubator to use for my own business. So first, I would describe myself as an entrepreneur. I have started several endeavors (the one I am focusing on now is my fourth business). I have experience with the foundation of a small business, and I am not afraid to try a new concept because I also have experience with things not working out. I am used to the constant feeling of stress and uncertainty. I have strong determination, and I have learned over the years to do something even if I am afraid. My aspirations are not only to provide service to my clients (like a space to work, or business consultations), but to be there to create an environment that is encouraging and supportive.

2) On my first napkin, I focused on the tangible components of what I will be offering my customers. I'll expand on the sentiment above about creating an environment that is supportive. As someone who has experienced the wild highs and lows of running a business or putting a new idea on the market, I think I will be able to provide support to the incubator clients. I don't necessarily mean advice or therapy. I just want to be the person a young entrepreneur can express their frustration to, or just be a sounding board for their new ideas.

3) The activity where we created the customer avatar helped me figure out and more closely identify who my customer would be. They are ages 20-30. Some may be college students or recently graduated. Some might be young people that have the Gary Vaynerchuk opinion that college isn't necessary if you want to be a business person (Note: There is profanity in the video; that's Gary Vee style). They won't have kids, and probably don't want them. They want to travel. They are avid consumers, and very tech-savvy. Most are women; I only say this because in my community, I am pretty involved in the local young entrepreneur crowd and the majority of them are women. All my customers have one thing in common: they recognized an opportunity to fulfill a need in our community.  

4) They care about success. My potential clients may have everything riding on this opportunity. Maybe they quit their job, or maybe they took out a personal loan to fund this venture. Either way, success is their goal. They will pay for what I am offering because I will package the incubator as a route to success as an entrepreneur. That's why I want to be able to provide all of the tools they need to be successful. So yes, the incubator gives my prototypical customers access to working space, tech resources and professional consultations. But I will promote the incubator as a path to success.    

5) What sets my apart from anyone else is that there isn't a service like this anywhere in my area. There is one business incubator for tech start-ups, but it's on a college campus and not very inclusive. I will be the only one offering this comprehensive package of services to entrepreneurs. Nobody else has a modern, hip workspace. The environment won't feel like a tech start-up incubator; it will be more like a community.   

I believe these elements fit together. My experience and determination are combined with the approach I will take to attract entrepreneurs to be successful through the services at my incubator. (I don't think I will call it an incubator. That sounds sterile and hospital-like.) I think I've zeroed in my target customer better than I did on the first idea napkin. I think the weakest part is not having a clear idea of what my professional consultations will look like. Will they be in the incubator at all times? What will the financial arrangement be to retain their services? These are the components that are weaker than the others and will need work and development.  

I didn't receive any feedback, so I tried to approach the idea napkin assignment differently than I did the first time. I tried to be more in-depth to depict the core my incubator rather than the surface details.