19A- Idea Napkin 2


1)     I am a sophomore Finance major at the University of Florida. I aspire to one day own and operate a successful business that generates enough revenue to provide myself and my family with a comfortable lifestyle. If I were to actually start the business that I have been describing in this class, my full focus would be to expanding the business and managing operations of the business to ensure success.

2)     I will solve the customers unmet needs by providing them a cleaning service for their marine vessels.

3)     I am offering this service to marina owners so that they can include my service in their list of 
conveniences for boat owners, as well as individual boat owners themselves.

4)     The customer will pay money for my service because in the large scale, the cost of my service is negligible. Boats cost tens to hundreds of thousands of dollars to buy and operate, whereas a cleaning service will only cost a few hundred dollars, and will increase the operating life, and thus the value of the owner’s boats in the long run.

5)     I am hardworking and strive for efficiency and customer satisfaction. I am also a knowledgeable boat owner, so I am someone that other boat owners can trust.

I believe that these five elements all flow together to make a great business idea and successful business plan. I am confident that with the capital and resources needed to start this business, I can foresee its success and turn my idea into reality.


  All of the feedback that I received on my previous post was positive, apart from one minor spelling error, in which I wrote “expensive” instead of “inexpensive.” The feedback leads me to believe that I am doing a good job with my assignment and my ideas are all sound and achievable.  

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Comments

  1. UnknownOctober 29, 2017 at 2:50 PM

    I think that you fulfilled the requirements for this assignment, but I think you could have gone into more detail in a few places. One of the main places is where your product solves unmet needs of your customers. You could have done a better job of saying specifically how your product will fix this or what the problem is at the moment that it resolves.

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  2. UnknownOctober 29, 2017 at 3:39 PM

    Your second idea napkin was successful in analayzing your business proposal. I believe that all of the elements you've discussed flow together well and make the service you are going to provide easier to understand to an outsider. I also didn't receive negative feedback on my first assignment so it was harder to see what I had to change when making my revision.

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  3. UnknownOctober 29, 2017 at 4:13 PM

    This is a good post as you incorporated all the required elements. There were some area's that left me with questions, you said you're knowledgable about boats but would you be the one actually cleaning and maintaining the boats or would you hire others? Additionally, you're offering your service to marina owners to include in their monthly prices but you refer to the individual boat owners as the customers who will pay for it. I have the same issue with my customer base being slightly fuzzy so addressing that would also be good. I think overall you did a good job describing your product.

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  4. UnknownOctober 29, 2017 at 8:21 PM

    Great job on the assignment. You did a great job describing the five elements and how they fit together. Specifically explaining why your customers will be willing to spend money on your service and why your core competencies will benefit you in your business. Also, great job tacking advantage of the feedback you received on part one and applying it to this assignment.

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