Idea Napkin No. 2

1) My name is Kayla Moore and I am a fourth year in the college of business. I am pursuing a retail and minor and a specialization in mass communication. I worked for 3 years in the food industry and I have a lot of experience with customer service. I love talking to people and I love working with people. I think teamwork is something that can bring your company to the top. I am learning more management skills in my internship and I also am very organized. I want to work as a manager with the ultimate goal of getting into Marketing. These things will play into my business concept because I can look at who my customers are, how to increase sales, and how to appeal to them. 

2) I am offering a new textbook service that will have all the textbooks in the same place. One website or database full of all your textbooks. Each semester you pay a small fee and you are granted access. This means more convenient access and it would be much cheaper. 

3) My customers are all college kids. The majority of them would be ages 18-24 but there are definitely older demographics in there as well. I feel that the older demographic are usually parents returning to get there degree. I feel that these students would be the ones that are on scholarship and do not have a ton of money, they take pride in finding the cheapest books or deciding if they need them at all. 

4)I think that this makes it much more convenient instead of having your textbooks in all different places and forms. It makes it much more cost effective as well. 

5) I think what sets me apart is that I am a different concept to the idea of textbooks overall, whereas right now textbooks are written by all different authors and they also have different editions every year so that your textbooks are no longer valuable. I could have the new editions available and just add a small fee, or it could be built into the one time cost for the semester. There has to be a better way to sell textbooks. I think its better to have them all in the same place and not have four different websites to long into. McGrawHill is an example of something that is close to my idea, but I want mine to have all of the textbooks. 

I do feel that the concepts fit together well. I think this is something that I could work to implement and make into a business. However, the weaker parts of it are how to get all of the textbooks into one place, because some professors write their own books and such. I also think it would only work for the classes that are textbook based, that's another problem considering not everyone needs any at all. So there are definitely different ways to set this up. The other weak point is getting textbook companies on board because they are trying to make a lot of money and I am trying to sell them for less money. 

Feedback memo: 

I was told that I did a good job of identifying what is wrong with my idea and the conflicts I may encounter. This is very important when starting a business. 

I was told that it will be important to have a good pitch of my idea because the emphasis needs to be on how I am different from other websites. 

I was told that another way I could work with the different editions is to charge a small fee to upgrade it, which I included in the 5th element, because this is something to consider. 

I was told that the benefits of it being convenient and less expensive are good because textbooks are expensive and they are all very different. 

I was told that my idea is great and I brought up the number one concern of the fact that there are multiple editions and authors.