Twice the Venture

1) Throughout this class I have begun to think more and ore about the opportunities I see around me everyday. This specific opportunity is one I came up with this morning as I sat in my 10 am class being forced to pay attention because my phone was dead. I did what we all do, I forgot to change my phone. Sure, sure, if you get to class early you can sit next to an outlet, but you guessed it, I was 30 minutes late. The opportunity here is an easy, nonevent, and almost effortless way to ensure you phone is charged at all times.

Yes, there are portable chargers, phone charging cases, and power saver modes, but they each have their flaws and do not ENSURE a charged phone at all times. This opportunity is being presented in today's world because of the increase dependance and need for a constant connection to the internet, to communication, and to your work. The market of such an opportunity can be found it all developed countries where cellphones are more than common, but expected. If executed correctly and to the full capacity I have in mind, this product would change the way we use phones and make investors and my self rich. The window of opportunity for this idea is fairly short because the technology for this already exist and are on the brink of being made public and popular.

The creative solution for this opportunity is chagrinning through "Wifi". Wireless networks are everywhere and we are connected more to wifi than we are not. There are already ways to wirelessly charge your phone, but not through your own specific wifi router. If you can have a router at your home, work or even school, you can practically have continuos access to power without cords and power. Crazy, I know, but by using the technology that already exist with wifi and focusing on moving power through wireless connection, it can be done. What I would be selling are wireless routers that charge anyones phone who is connected to do it. This means guests, friends, families, students, clients, workers and many more can always have access to the internet and the information they need.

I believe the price of this product would be higher than people expect, but when put into perspective is not that much compared to other products. As of now, people own chargers, portable chargers, cases, and much more than breaks monthly and stye spend a lot of money on. This same money, when put towards my product, will be the same if not more. So by creating an easier way to charger your phone, you can save money with the initial investment. This product will compete with other products because no other product can guarantee 24/7 charging capability.

What is next for this opportunity is finding funding, finding a testing base, and most importantly finding someone who has the knowledge to create this because I do not. I think the secret sauce of this product is it is coming into an already developed market with a new idea. What I mean by this is the market for wifi and the market for phones already exist. I do not have to sell people on buying phone or internet, they already have it and already need it. I am presenting an add on to already accepted and trusted ideas. Lastly, I do not see this idea remaining my idea. I do not have the ability, experience or background to take this idea from start to finish. I do know that big companies and technology developers, who have the skills to create this, would love to keep the idea to itself.

So, the moral of the story is Wifi Charging needs to be the next big thing or I will have to continue paying attention in class.

2) The other people in my group recommended that I focus more on one specific idea verse the big picture. If I go into an idea with too much and too many ideas, it could fail very quickly. By starting off simple and then adding new features as time goes on, consumers will stay engaged and I will be more successful.

3) I changed my venture by focusing more on the technology part of this idea. I feel like the first time I did this I felt it was nearly certain this was possible. This is a new idea and is technology that hasn't been invented. I will need a lot of money and people to create this and I need to focus more on that.