Idea Napkin 2

1. For this idea napkin I want to focus on a skill of mine that I have discovered since the last idea napkin.  I am both resilient and perceptive.  i do not give up when situations look dire and I am perceptive to new ideas and problems and incorporating them into my product.

2) I am sticking with my original idea.  My service will provide five ties weekly to subscribers. At the end of the week the ties are returned and a new shipment will be provided.  I came across the problem of the people forgetting to send back ties or intentionally stealing them. Due to the fact that I can not wait for the first set to return for the second set to be sent out I have come up with an idea to combat this.  I will set a required minimum subscription length in which the price will be equal or greater than the cost of two sets of ties.  This way if people steal the first two sets, I will not send out the third if the first has not been returned, and I will still make money or break even due to the minimum subscription.

3) My core consumer will be the young male entering the business environment.  At first I was looking into all business men, but the older members of this community have not had a service like this, so they likely already have a collection of ties.   Furthermore, I am looking for people in entry level positions.  They will likely not have the money required to complete a full wardrobe, but will still need to dress for success.  Also they will likely live in a place that has high living expenses because then they will have less spending money for clothes.

4) People will pay money for my product because they need to be able to dress professionally.  They will not have the money to buy a new wardrobe and likely will not have a large repertoire.  This makes this a cheaper alternative to a different option for a product that is required of them.

5) What will set me apart is both my high quality and low prices.  My ties will be quality to ensure that it is better than buying a bunch of cheap, boring ties. It will also be cheap to ensure that it is a better deal than buying a whole wardrobe of ties.

These all fit together because I have target group, and a valuable service.  I took a lot away from my last idea napkin.  Specifically, I now have narrowed down my target audience to more specifically encompass my target.  I also have combatted the problem of people not sending back ties by incorporating a minimum subscription length that will guarantee I make money.