19A - Idea Napkin No. 2

About Me:

I am a fourth-year Finance student at the University of Florida. As someone who has been a part of Florida's schooling system for the past 16 years, it is safe to say that I have taken a fair amount of Scantron tests throughout the years. Through my experience, I've noticed that there are many aspects of Scantron-style tests that could be improved upon to enhance the test-taking experience for both students and instructors. One of these aspects is the addition of a feedback loop, and I plan to capitalize on this opportunity as the center of my business model. I will use the skills I have learned in my Computer Programming class as well as my Excel certification class to create the software needed to run the feedback loop.

Whether my Business plan fails or succeeds, I believe that the plan will play a role in continuing my understanding of starting a business and understanding of the mindset of entrepreneurs, both of which will contribute to my dream of pursuing a career in Management Consulting.

What I am offering to Customers:

I am offering to students a new test-taking experience. Students will no longer have to wait days to receive their Scantron test scores, nor do they have to check their answers to know their weak test-taking areas. My product also helps to eliminate student's need to visit Professor office hours to review test answers.

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I am offering to Instructors more demographics of their students' performance. Such information is invaluable to instructors as it tells them which subjects their students are struggling to understand and thus which areas the instructor needs to focus on.

Who I am offering to:

I am offering my product to students and instructors who are driven in their personal improvement and invested in their teaching and education. Students who care about getting the most out of their education will find my product valuable as it tells them their needed areas of improvement. Instructors who care about improving their teaching style and maximizing student performance will also find value in my product through the statistics and demographics it provides.


Why do they care:

Schools and Universities will be willing to pay money for my product because it will improve the test-taking experience for both students and instructors. As a result, my product may potentially improve a school's rating by increasing the performance and engagement of students and instructors.

What are my Core Competencies:

Since I am still a College student, I sympathize with the needs of my peers and instructors more-so than one who is not currently enrolled in University. Therefore, I have closer proximity to my consumer base. Rather than using channels to collect consumer data, I can directly communicate with my consumers simply by scheduling professor office hours or talking to students in Turlington.


Feedback Memo

I didn't receive any negative or critical feedback from my last napkin post; however, for my own personal feedback, I think it is necessary for me to figure out whether I will be selling to the teachers/students themselves or the University/School. I will need to do some research in seeing how difficult it is to sell to teachers/students directly as opposed to a University/School as well as how many target customers are in each

I believe that my core competencies, my skills that I've learned at my time at UF, as well as my driven mindset will give me all the tools I need to figure these steps out moving forward.