19a - Idea Napkin 2

You: My name is Tyler Pratt. I am a junior at the University of Florida majoring in Food and Resource Economics with a specialization in marketing and management. I am also pursuing a minor in Business Administration. I have a talent with marketing. I am currently involved with the American Marketing Association. Last semester with AMA, I worked on a marketing project with Yin and Yang Apparel, a startup street wear and music festival clothing company. This semester I have a marketing internship with a local craft beer store and restaurant. I am running all the social media platforms and helping raise awareness of the company. I believe with my skills in marketing and promoting business's on social media will help me launch my B2B small business digital marketing company. My business would introduce me to many different people and cultures.

What are you offering and who I am offering it to:  I am offering a digital marketing service for small businesses. I understand the importance of social media and how it helps the brand of many businesses. Small businesses do not have the time to schedule online campaigns. I am offering a service for small and local businesses to expand or improve their marketing. When their businesses succeeds my business succeeds. I will be giving local businesses my marketing skills. The firms product and message will be received by the consumers in the best way possible.

Why I care: I believe small and local businesses play an important role in the community. They are also vital to the economy. As an economics major I would argue small businesses and competition is a lot better than having only a few big corporations taking over the market. Big corporations have money to spend on big marketing campaigns that small businesses do not have. Running a good campaign does not take millions to make and I will assist smaller businesses in making good quality and affordable campaigns.

Core Competencies: Their are many digital marketing business out their today. However, this one is different because it will focus on the local community and be a lot more personable. Digital marketing businesses today will be located in LA but helping businesses in Scranton. I will make sure to really understand the community I am selling to.

Summary:  The five elements do fit together. My business concept is  related to my major, club and internship. I believe I have learned key concepts and tools to help grow a business. Being able to know what I am offering and who it is for is important. I can be offering something that is really good. However, if I am not offering it to the right person it is bound to fail. I do not have experience with how running a B2B, which would be my week point. I need to know how to finance and budget.

Feedback: I changed my original business idea. From the feedback I saw how I had the marketing skills to start a business and know how to use social media well. I also discovered that the printing app would help need that many college students struggle with. While I saw some potential in the printing app I was not confident and do not much knowledge about apps from a business perspective.