idea napkin no2

• Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

• My name is Bay. People who are very closed to me always say that I’m a har working person and always have passion on things I do. They also say that I’m very outgoing and love to work with lots of people. I love to meet and talk to new people every day.
• If I were to start this business, it would have to be something I’m fond of. Since I was a kid, I love playing dressing up and I’m always into fashion.
• What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 
•  This part has not changed. I am offering a product to individuals who sees the needs that buying a winterwear and living in hot climate is a waste of money.
• Based on my feedback, I realize that this service is very convenient and online platform makes everything accessible.
• Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

I think my targeted customers are quite broad because fashion is not subject to any age or gender. Everyone can wear anything they want that boost their confident. The only concern is age because I’m afraid that people who age above 50 would not get used to online platform.

• Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

Because of conveniences that they do not have to use dry cleaning service and the fact that they can save money are the most important reasons why people would want to rent instead of buying.

• What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

As best to my knowledge, there is no dominant winter wear rental business Bangkok. Mine is probably going be the first one, so there’s plenty of market to tap and rooms to grow.

• In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others. 

I believe that all of these elements work well. I think the customer’s needs and     business ideas are parallel as well as targeted customers.

Growing Your Social Capital

Domain Expert:

            1.Who they are, what their background is: 
          Sita, she is the owner of dress rental business called bchurunway in Bkk,Thailand.

          2.   How this person is a “domain expert”: 
          She’s the pioneer of dress rental in BKK and has lots of customer base including celebrities.

         3.   How I found and contacted this person:
         I am her customer and knew her when I visited the showroom

         4.  Nature of Exchange: What they did for me, what is the return expectation: 

She told how she initiated the idea of rental business. She told some tips and some obstacles relating to the rental business. reputation. Bchurunway has a reputation of super stylish and fashionable which is very attractive to young woman. Social media platform is the easiest way to advertise and keep in touch with customers such as asking their feedbacks.

          5. How will including them enhance my ability to exploit an opportunity: 

I could consult her when starting my own business because she’s a very successful entrepreneur.

Market Expert
            1.Who they are, what their background is:

Fon, she’s an employee of Lazadaa, one of the biggest online shopping applications in Southeast Asia.
2.How this person is a “market expert”: 

She works in marketing department of fashion line for Lazadaa, and has a deep understanding about ecommerce business including using social media to advertise and create brand image.

3.How I found and contacted this person: 

            She’s a friend of my older sister.

4.Nature of Exchange: What they did for me, what is the return expectation: 

            She told me her experience of working in this career. For example, she told about how

            Online business grows during the past few years.

5.How will including them enhance my ability to exploit an opportunity: 

            I could consult her about online platform from advertise, service to delivery.

Industry Supplier:

1. Who they are, what their background is: 

Melisa, her family owns a factory that manufactures clothes.

2.     How this person is a “industry supplier”: 

Her factory export clothes to neighboring countries and many parts of Europe. Although it’s not specific to winter wear item, there are still some overlap product such as jacket.

3.How I found and contacted this person: my high school friend

I asked her about how her factory reach customers and some supply management because most of her products are exported to overseas.

4.Nature of Exchange: What they did for me, what is the return expectation: 

It was very casual because she’s one of my best friends. Growing up with this family      business, she really understands how clothe manufactures operate.

      5.How will including them enhance my ability to exploit an opportunity: 

            I could buy some products from her with a special deal.

Finally: Reflect. This exercise really broader my point of view about the winter wear rental business as I got to talk to many people who are related to the business.

Create a Customer Avatar

My product can be sold to every gender and age who loves to travel abroad, but for the sake of this exercise I will focus on a middle-aged woman.

            She lives in Bangkok, and have a job as a social media influencer, which she loves to write travel blogs and do vlogs on Youtube. During winter, she loves to go skiing with her friends or family in Hokkaido, which is extremely cold. She sees the needs of ski wear and winter wear such as coat and fur; however, she thinks that her audiences will get bored if she keeps wearing the same clothes because she’s an influencer on styles and fashion as well. She considers winter wear rental business as a way she can always wear new styles in each time she goes on a vacation. Eventually, she realizes that her audiences love the way she always mixed and match new trendy styles and leave some fashion tips for other girls who are looking for outfit ideas.

What’s Your Secret Sauce?

           First, I am a very straight-forward person as I always express my feelings and things that I like/dislike. Second, I’m good at giving advices. My friends always ask me for advice whether it’s relationship or academic. Third, I’m quite a hard-working person, and be always responsible on tasks I am given. Fourth, I’m creative and I love doing some graphic designs and photoshop as well. Fifth, I’m quite an extrovert person and always love to hang out with other people and joining various activities.

Interview

1 my best friend from high school: she thinks that i'm very talkative. I love socialising and going to parties and events.

2 my friend from university: He thinks that i'm funny and can make other people laugh.

3 my mom: she thinks that although i seem to be an extrovert, i sometimes be a very privacy person. Also, i'm less talkative at home than when i am with my friends. 

4 my friend from university: she thinks that I'm quite a serious person about study. She thinks that i'm not a sensitive person at all. She has been my friends since grade 7th and have barely seen me cry.

5 my friend from high school: she says that I was like the leader of girl gang at school. I always give good advice and mature.

From interview, lots of my friends say that I'm funny while I've never though of that before. what they tend to think the same is that I'm quite an extrovert and talkative. I love going out and explore new things.

Figuring out Buyer behavior No2

Interview1: a middle aged woman working in financial fields whom I know from my internship. She said the most important factor in deciding to rent or not is price. If the price is not low enough, she might choose to buy instead of rent . Also, despite styles, finding the right size is very important, so she emphasises that there should be various size ranges available. Overall, she would be satisfied with the service if delivery and return are smooth, find the perfect size for her, and quite low(to fair) price of rental fees.

Interview2: a male university student who goes to the same university as me.

He said the most important factor in deciding to rent or not is conveniences. He wants everything to be completed online and measurement of sizes should be accurate. Overall, he thinks it’s a great idea to save time and money to go to dry cleaning services by himself.

Interview3: a middle age house wife. She said that the most important factor in deciding to rent or not is the variety of selections. She emphasises that she would be satisfied if the style is up to date.

Conclusions:Overall, this interview results are beneficial in terms of knowing more about what customers expect from the services. They tend to give an importance on styles, price, and sizes.