What's Next

Existing Market 

Step 1. My current service is an alternative WiFi network for the University of Florida campus. It would use a mesh network, so the more people who use it, the bigger and more reliable the network becomes. The next step would be to expand to other college campuses where the WiFi is less than exceptional.

Step 2. Interviews

Step 3. Each college campus has customers that relatively quickly move out of the market. This is countered by a regular influx of new customers. So the primary goal in the existing markets is to keep up an advertising effort to keep new people trying the service. Though the service doesn't directly charge users, it does use advertising which means there needs to be a larger user base to be profitable.
     Due to that need for a big audience, expansion to similar markets is a high priority. Fortunately, once the system is up and running there is a low fixed cost. So there will need to be a rapid expansion into other campuses at first to have a feasible user base. After that point is reached, expansion can be a bit more cautious and strategic.

New Market 

Step 1. Following our customers as they move out of college and into cities and suburbs could be a new market to get into. By then, more then likely they would have more of an income, which means we could offer new services that would require a subscription.

Step 2. Some of these subscription services could include cloud file storage or cached videos from Netflix. Because these services would be hosted on a local network, their upload and download speeds would be faster. There could also be an ad free version, that would require a small subscription.

Step 3. Interviews

Step 4. Giving insensitive to the new market, such as providing a premium service to most of one area was something that did not occur to me. Due to the nature of the network, it works best with more people on it. So it would make sense to start with as many people as possible, even initially if it was at a lost.
     The attractive thing about the new market is that the customers would be more willing to pay for services. The issue with going into to neighborhoods is that people will be moving outside the area much more frequently than compared to college campuses and cites. This makes the network, and the other services it provides, less practical for those people. In the end there would need to be some research before the service could go into different areas outside of campuses.

Week 12 Reading Reflection

I found it surprising that it mentioned allowing for failure. It's really important to do, but not something I was actively thinking about implementing into a company structure.

It's confusing to me that some entrepreneurs would want to stop innovation with in their venture. I find the idea that I facilitated a way for someone else to be innovative to be really rewarding.

From the reading it sounds like business need to regularly redefine themselves, to some degree, in order to not decline. Is this true? I would of also liked to see how company structure and culture are more related. I think both reflect and influences the other, and it's important to craft each in order to positively benefit the other.

I completely agreed with the main points of keeping the company innovative and dynamic at all levels, in order to increase ability to innovate. It seems especially important given the rapid changes in the technology sector now a days.

Venture Concept No. 1

The WiFi network on the University of Florida campus is often unreliable and restrictive. In our world where the internet is increasingly necessary, it makes it difficult and frustrating for students to complete assignments or do many other tasks. These students and faculty that are affected would be benefited from a more reliable system, that could substitute the current networking solution. The user group would be concentrated to people who work at or live on the University of Florida campus. Currently customers rely on the existing WiFi network or using a data plan. As was mentioned before, the existing solution is causing this problem, while the data plan has a speed limit and cost users money. Similar conditions may exist at other college campuses or neighborhoods, in which this venture could expand too. The window to enter exist as long as the current system is frustrating customers and no other free options present themselves.

This ideas's innovation comes more from technological advances rather than business ideas. The network that would be implemented would take advantage of mesh networking. This means that a devices using the service would also help propagate it. Doing this not only expands the range of the network, but also adds levels of reliability. Several nodes would be placed in or around campus that would help provide a foundation for a strong and fast connection. Each device would have some additional software to help create the connection and keep it secure. The service would be accessible for no charge to anyone in the area. It would create revenue by showing non invasive ads on startup and periodically throughout the connection. Unfortunately, because ad prices vary vastly based on view count, niche, and time of year, I can't find a good measure for how much would be charged for the ad placements. However, without invasive collecting personal information, we would know that the majority of users are students at the University of Florida. Being able to pinpoint this specific of  a profile would make advertising very valuable for local businesses.

People would be motivated to switch to this service, because it is more reliable than the existing one, while staying free for them. To switch, all it would take would be to download the additional software and install it on their device. Competitors would be the Universities existing network, as well as data plan for cellular providers. The problems with the existing network have already been stated. Data plans do offer a more versatile internet connection, but at the cost of being expensive and usually slower than a local wireless connection. The price point and low switching cost make it convenient for customers to try the network and see how it is for them. Many people may find it appealing to use the network, because it is coming from a UF student and would be a local business. Customer experience will also play a vital role, as the user base is relatively close knit and positive or negative experiences with it will quickly be shared with much of the group. The business would require one or two additional developers to help create the system as well as maintain it's speed and security. A financial adviser and marketer would also be useful in getting the venture going.

The most valuable resource would probably be being the first to market. This would allows the company to capture a large user base, and if the quality of the service is good, maintain that user base while expanding to other areas.

After rolling out to the University of Florida, the next step would be to expand to other campuses and neighborhoods. An option to pay to not display ads may also be implemented to appeal to people who don't like the ads, but also want the more reliable network.

In five years, I would want to see the venture expanded to many different areas. Helping to provide a better internet connection for less to people who need it. I personally, would probably want to move to another idea once this one was doing well and placed in responsible hands. This first venture would be stepping stones for me to improve people's lives, which is the main driving force behind my entrepreneurial goals.