29A – Venture Concept No. 2

1) 

OPPORTUNITY

• My product is an app that matches college students with upperclassmen in their intended or "interested" majors. It will be targeted mainly towards incoming and freshman students at the University of Florida to prevent further major changes and an insight beforehand. My service aspires to bridge the gap between the curiosity and the unknown.
• The market will be defined solely on demographics than geographically due to it's portability and available access anywhere. The market would be age driven based on incoming freshman and current freshman ages, 17-18 years of age. 
• As of right now, customer's aren't satisfied with their questions and above all they aren't solved. Advisors are offered throughout campus however, with the huge ratio of students per advisor, advisors don't get to know their students are much so it's hard to build that connection.
• This is a huge opportunity, it's picking up where the lack is. Knowing that over 38% of first year students change their major by the end of their first year and over 61% for their second year. Many students already lose money and time as well as credit hours as these classes may be accumulating towards excess hours. A lot of money, time, effort goes into these first two years and if there's no initial interest or perhaps drive within that major then there's no room to improve within that major. 
• I think this window of opportunity will be open as long as there is a need. This need is going to be hard to break down all of a sudden but an app won't necessarily end the problem as it depends on the student's confidence and strengths, but it will be able to reduce the percentage and costs for many students. 

INNOVATION

• This mobile application will help fill the gap that bridges between both students and opportunities. It's main service offered will connected students who have an interest and drive to explore majors to see what it can offer to them.
• There will be a one time fee of $9.99 using their Gator ID with their log in information. It will serve solely for both current and alumni students of the University of Florida. This will let them be able to have 24/7 access and get linked with at least one successful student within each major that has graduate or is currently in that major that can confidently declare themselves as "experts". 

VENTURE CONCEPT

• UF students already are expected high, whatever their major is. You can only go so far with a GPA, but once you meet the right hands, they can take you anywhere. That is the main concept behind this app. Since this app can offer direct connections along with first hand experience in that major, students will be able to feel a more personal connection than just a general advising appointment factor when deciding on a major. 
• UF Advising will be the main competitor and possibly LinkedIn, except the main distinguishing factor is that both can only offer so little about a major's description. The only competing factor between their service and mine is the difference of $9.99, quality of information and networking. 
• My pricing is minimal and I'd like to keep it minimal as I feel my market would highly expand more. The word would get out easily as long as they are satisfied. The pricing point can serve to make the final shift between customers saying "yes this is the product for me" or simply ignoring it. 
• Upperclassmen would provide the customer service that students would interact with. Students with students! It allows a more diverse and free room to communicate without the stigma of wanting to ask for help as one would feel when going to an advisor. 

My secret sauce is that I know and can relate to these prospective students. I understand the confusion and curiosity can both entail when occurring at the same time. 

I'd definitely would want a panel just dedicated to the success stories from these students who have had success with the app. For me personally, it means I made a difference in someone's life and specifically they were able to do this on their own. All it takes is initiation! This will show encouragement to other students who feel "stuck" and serves as a path to continue. 

If this venture is a success, I can apply this into other universities and even community colleges nationwide or worldwide to further expand networking. 

2) 

One of the feedback I received was on pricing and I realized it was very low so I raised it to $9.99 from $0.99 where if 1,000 students were to purchase it, I would have $9,990 vs $990 to be able to cover some costs of app maintenance and possible employment opportunities. 

3) 

I definitely changes my venture concept, from price to even a mindset. Specifically I was more specific when describing what I will offer and do. 

4)