Idea Napkin No. 2

1) You. For my business, there are two of us bringing different talents to the table. My partner is the artistic talent, while I am handling the business side of things. I have a lot of management experience which will work for us as we grow and add employees. I also have the knowledge of where and how to seek funding for the business. I am excellent at spotting people who would be beneficial to each other, and to the business. I see this business as an opportunity to fulfill both my philanthropic ideals as well as being a full-time income.
2) What are you offering to customers? I am offering customers unique, high quality clothing that is made in the U.S. Not only will short runs of the clothes be offered, making the clothing unique, customized clothing will be offered that will also be custom fit and/or design depending on the customers needs. This will be highly beneficial for those who need that extra tailored look in business, or are like me and have an odd body shape and can never find anything that fits right.
3) Who are you offering it to? From my current research, I suspect most of our customers are going to be between 20-45 and professionals. There will be the initial niche of those looking for one of a kind, perfect fit clothing. All of our customers are going to be seeking a unique look, while still maintaining their professional look.
4) Why do they care? Many people are willing to pay more for a higher quality piece of clothing because they know it will last a long time. Also, getting customization options for a small fee is a benefit.
5) What are your core competencies? My background in managing manufacturing will set me apart in this arena. I also have experience with purchasing and supply chain. With my experiences and business background, and my partners’ incredible artistic talent and eye for clothing, we have a unique combination that could truly break into the fashion world.

Additional Paragraph:
I believe that the elements mentioned all work together to create an incredible team that will work well with my business concept. The weakest point of the business concept is that so many try to break into the fashion world and fail.

“Feedback Memo”

Finding five points in the feedback I received I going to be difficult, but here it goes!

1.      Marketing is going to be a key aspect of succeeding.

2.      People are interested in clothing made for their specific body type.

3.      Other people have similar ideas about customization of clothing within this class.

4.      The artist will have to create appealing designs.

5.      If we could manage to get the artist some outside recognition, it would add to the popularity of the clothing.

Since most of the advice was in terms of areas which my partner excels, I changed very little in my Idea Napkin. The aspects I did choose to change was adding in a little more about my abilities, and a little more about what kinds of customizations will be offered.