Venture Concept No. 1
Venture Concept for Viva Voce
My Opportunity:
As more local governments are implementing laws to phaseout or ban single-use plastics, businesses are being forced to find alternatives. Some have chosen to begin the shift before they are forced to, but others fear that the increase in cost could drastically affect their margins. This is especially true for small businesses that rely on the low-costs of single-use plastic bags and take-out containers. Many of these business owners are unsure how they will afford to make the shift towards eco-friendly products if their local legislation requires it. Some will be able to share the cost with their customers who will have to pay for the green option, but others will be forced to absorb the cost.
The Innovation:
In order to mitigate the cost that small businesses will have to face, I have created a platform that will help decrease the cost of eco-friendly products. Large businesses, politicians, lobbyists, charity groups and anyone with a message that they want to share will be able to invest in these small businesses and in grassroots marketing. These groups or individuals will be able to sponsor reusable products by paying to have their logo or slogan printed on the item. These items will then be made available for distribution to small businesses that cannot afford the hefty price of reusable products. If the large business or individual wants to be the only sponsor, they can pay a larger fee and even choose a specific demographic that they would like their sponsored merchandise to be distributed to. If they do not have a specific preference or do not want to pay as much to sponsor, they can combine their logo or slogan with others of similar purpose. The small businesses will be able to see the different options and select one that matches their desires and price point. If the small business wants to add their logo, they can do that as well, but the bag will not be as discounted as when their logo was not displayed.
The Venture Concept:
My service allows large businesses and influencers to invest in grassroots marketing and show their support for small businesses. It will also help to lower costs for small businesses and allow them to keep their margins sustainable. I do not know of any other company that offers this service so I do not think that I will be struggling with competition, but rather with getting my message out and finding people who are willing to invest. The most important aspect of building this business will be finding a supplier or building our own manufacturing system in order to produce the products that we will send to the small business. The second biggest challenge will be educating people about this new kind of marketing. Grassroots marketing is not a new concept, but I think that my service is much more localized and could be used to directly target small market segments. I do not think that we will struggle to find small businesses willing to purchase and distribute the product because ours will be cheaper to the alternative, but we have to find advertisers that these businesses are willing to represent. In regards to employees, I will have to develop a team of individuals including those who have a good understanding of the distribution aspect of the business and those with an understanding of modern marketing techniques. I think that my business will rely on developing relationships with suppliers who can manufacture the product at a low cost and small businesses who are willing to distribute the product. If this can be accomplished, then all we have to do is sell advertisements.
Our Unfair Advantage:
I think that my venture's advantage will be reaching the market first and quickly developing relationships with small businesses. If we can develop and maintain relationships with small businesses, then we will always have a place and a customer base to distribute advertisements too. Local governments all over the United States are starting to require the use of reusable and sustainable products, which turns reusable plastic bags and containers into a way to get a foot in the door. But once we have developed these relationships, we can expand them to include more ways of advertising in local operations.
What's Next:
Once relationships are established with advertisers and small businesses, it will becoming increasingly more simple and affordable to develop new means of marketing. After the small businesses become comfortable with distributing logos or slogans on reusable shopping bags and containers, they may be more willing to include print advertisements within their store and on the outside of buildings. This service will be all about showing small businesses how easy it can be to earn money and cut costs with the allowance of advertising.
I have always wanted to work in a field that is making strides to make the world a better place. I think that if this business can gain a hold, it could really do some good for small businesses and help to make the world more eco-friendly and sustainable. If these truths are met than I believe that I would be completely dedicated to my business and be constantly working to help it expand and grow so that I could continue to help individuals and the planet.
My Opportunity:
As more local governments are implementing laws to phaseout or ban single-use plastics, businesses are being forced to find alternatives. Some have chosen to begin the shift before they are forced to, but others fear that the increase in cost could drastically affect their margins. This is especially true for small businesses that rely on the low-costs of single-use plastic bags and take-out containers. Many of these business owners are unsure how they will afford to make the shift towards eco-friendly products if their local legislation requires it. Some will be able to share the cost with their customers who will have to pay for the green option, but others will be forced to absorb the cost.
The Innovation:
In order to mitigate the cost that small businesses will have to face, I have created a platform that will help decrease the cost of eco-friendly products. Large businesses, politicians, lobbyists, charity groups and anyone with a message that they want to share will be able to invest in these small businesses and in grassroots marketing. These groups or individuals will be able to sponsor reusable products by paying to have their logo or slogan printed on the item. These items will then be made available for distribution to small businesses that cannot afford the hefty price of reusable products. If the large business or individual wants to be the only sponsor, they can pay a larger fee and even choose a specific demographic that they would like their sponsored merchandise to be distributed to. If they do not have a specific preference or do not want to pay as much to sponsor, they can combine their logo or slogan with others of similar purpose. The small businesses will be able to see the different options and select one that matches their desires and price point. If the small business wants to add their logo, they can do that as well, but the bag will not be as discounted as when their logo was not displayed.
The Venture Concept:
My service allows large businesses and influencers to invest in grassroots marketing and show their support for small businesses. It will also help to lower costs for small businesses and allow them to keep their margins sustainable. I do not know of any other company that offers this service so I do not think that I will be struggling with competition, but rather with getting my message out and finding people who are willing to invest. The most important aspect of building this business will be finding a supplier or building our own manufacturing system in order to produce the products that we will send to the small business. The second biggest challenge will be educating people about this new kind of marketing. Grassroots marketing is not a new concept, but I think that my service is much more localized and could be used to directly target small market segments. I do not think that we will struggle to find small businesses willing to purchase and distribute the product because ours will be cheaper to the alternative, but we have to find advertisers that these businesses are willing to represent. In regards to employees, I will have to develop a team of individuals including those who have a good understanding of the distribution aspect of the business and those with an understanding of modern marketing techniques. I think that my business will rely on developing relationships with suppliers who can manufacture the product at a low cost and small businesses who are willing to distribute the product. If this can be accomplished, then all we have to do is sell advertisements.
Our Unfair Advantage:
I think that my venture's advantage will be reaching the market first and quickly developing relationships with small businesses. If we can develop and maintain relationships with small businesses, then we will always have a place and a customer base to distribute advertisements too. Local governments all over the United States are starting to require the use of reusable and sustainable products, which turns reusable plastic bags and containers into a way to get a foot in the door. But once we have developed these relationships, we can expand them to include more ways of advertising in local operations.
What's Next:
Once relationships are established with advertisers and small businesses, it will becoming increasingly more simple and affordable to develop new means of marketing. After the small businesses become comfortable with distributing logos or slogans on reusable shopping bags and containers, they may be more willing to include print advertisements within their store and on the outside of buildings. This service will be all about showing small businesses how easy it can be to earn money and cut costs with the allowance of advertising.
I have always wanted to work in a field that is making strides to make the world a better place. I think that if this business can gain a hold, it could really do some good for small businesses and help to make the world more eco-friendly and sustainable. If these truths are met than I believe that I would be completely dedicated to my business and be constantly working to help it expand and grow so that I could continue to help individuals and the planet.
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