SEP Venture Project: Fall 2018
Who we are, and what we aim to do.
My role in this venture: Design expert/Marketing.
“I am resilient. I bounce back from any failure and come back with double the fortitude.
I am adaptable. I’m a JOAT and can fit any role that the team needs me to!
I am open-minded. I’m willing to adapt to any idea that will be feasibly actionable, and willing to learn new topics for our venture.”
“My tunnel vision. If overly-dedicated to a project, I’ll often lock myself in and not consider alternatives, which isn’t good if it turns out we need to pivot, so,
“I’ll be keeping myself from tunnel-visioning on one thing in this venture.”
If I make a mistake, I sometimes will not hold myself accountable to it, and I hope to improve this weak link by owning up to my faults during this process.”
My role in this venture: User experience/Design.
“I can effectively communicate with customers and with my team to create a high quality product.
My sense of design. I connect personally with the target market and value proposition, and can therefore understand how to create an engaging and compelling product.
My emphasis on quality. I will not settle for a subpar quality product because I am set on making profit.”
“My stubbornness. Often I am dead-set on my way of doing things, so I must remember to accept other ideas and be open to trying alternative solutions.
I often forget to look at the big picture.”
“I am very excited to gain a user-base and create revenue, but I must remember to focus on creating a quality product first.”
My role in this venture: Design/Content.
“My creativity. I hope to make a venture that is theoretically rooted, extremely creative, because we want this to be a fun and interesting experience for our users.
My determination to perfect things I am passionate about. If I feel strongly about something, I make sure I complete it to the best of my potential and until I am truly satisfied with the outcome.
My ability to voice my opinion. I don’t shy away from things I feel are wrong or aren’t being executed correctly.”
“I think this is important for any team working on a project, because it helps hold people accountable for their actions.”
“I am easily discouraged when I cannot immediately figure something out. This process is going to be a complex one, and I have to force myself to consistently work on new skills instead of giving up on them initially.
I am stubborn when it comes to asking for help. I hate not feeling independent, but it is a weakness I am hoping to overcome through this process, through which I am going to inevitably ask for help.
Prototyping, Develop MVP
Customer interviews, improvements, refinement, Market analysis
Preparing for pitch, and pitch to investors
Our Weekly Expectations:
- Dedicate equal amounts of time per co-founder.
- Being present and active at regular meetings.
- Contribute creatively and innovatively.
- Maintain a positive and mature outlook.
Idea 1 : Finesse
Educational institutions offer Business and Economics classes to their students, that are very theoretical and not necessarily practical. As a result, a lot of young people are unaware of the basic rules of things like taxation, stocks and money management in general. Their financial problems can often stem from a lack of knowledge about taking and re-paying loans and paying taxes properly, as examples.
Our idea is of an app/website that consolidates the basics of money management into a game that young people can access on their smartphones. We aim to make the content discussed through these games easy to understand and simultaneously enjoyable, and will include a tangible reward by the end of the game that ensures a lottery-style, addictive and enticing relationship with out customers.
In terms of the design of our game, it would consist of an initial practice round that aims to draw in our customers, that would then into our real rounds. Based on the topics being discussed in each round, the end reward could include an increased sum that what the user initially put in upon purchasing the app. Each of the tasks that the game would include would require the user to make intelligent, well-informed decisions.
Our target market consists of users between the ages of 13 to 23, because we believe the skills our game involves is valuable to a people of a range of age groups. Our revenue would come from buy-ins per user, and we would spend a fraction of this on the ultimate rewards our users would get. We do not have any external partners currently, and our competitors include HQ and other ed-tech apps.
We are students passionate about educating other students about the basics of money management, who wish to offer a platform on which students can learn money management and finance in an interactive and enticing way. We hope to teach students valuable skills that will ensure them better, more economically-stable lives for the future.
Idea 2: ModClothes
Buying clothes can be unsustainable and unnecessarily expensive. A number of clothes manufacturing companies are often unethical and exploitative towards their workers. Our idea was to create our own line of modular clothes that are sustainable, cheap and fashionable.
Our target market includes college students who want to wear creative, fashionable clothing that is inexpensive, while also being minimalistic and sustainable.
Our competitors would include existing, niche clothing, like modular tracksuits on platforms like Kickstarter. Our minimalism and creativity would set us apart from our competitors.
As for our revenue model, we plan on getting money from users that buy the clothing. We are looking for a chique, sustainable, mission-driven relationship with our customers.
For this venture, we would have to partner with clothes manufacturers, and sellers of retail stores, that would also aid in marketing our products.
We are creative students passionate about sustainability in fashion who design and make modular clothing. Our objective is to create a line of clothes that values money, style, creativity, and simplicity.