1. I am Jorge Spinatto, and as previously discussed I possess skills that make me a nightmare for Netflix and Hulu's recommendation algorithm.
2. I am offering a plug-in/app that allows the user to rate movies/shows they have previously watched and then generate suggestions based on what you like and don't like. We think there is an unmet need in this area as finding shows/movies on platforms such as Netflix and Hulu can be difficult, their selections are always changing which only adds to the difficulty.
3. I am offering this service at first to Netflix users as the 'trial' run. From there we will evaluate how the algorithm is working and if customers are satisfied or not, making improvements as quickly as possible. Thereafter we will be available on both platforms.
4. People will care because they hate going on Netflix and searching for 20-30 minutes and then end up not finding a show that piques their interest.
5. Our competencies are that we are the only people in the industry, essentially creating a new market.
Looking back at all 5 elements of this assignment I can see how beautifully this idea and business will be. There is indeed an unmet customer need and our company will fill the gap. Our elements complement each other and without the other elements it is only an idea, but put it all together and you have yourself a very successful plan.
The feedback I got was very positive, the main thing was how do I plan on generating revenue at first and generate traffic. I believe that word of mouth will be our biggest friend, making a great product, and having the results speak for themselves.
Jorge, your feedback evaluation is A-1! Focusing on your target customer's needs and situations are definitely what any entrepreneur should dedicate most of their efforts to. Your mentioning of promoting your service via word of mouth is reflective that you understand this and what it takes to begin building up your services' name ID. Ensuring you can take good care of each customer instead of trying to grow too quickly is a recipe for success.
ReplyDeleteHey Jorge, I like how clear and concise you were with your responses to the questions. Good job on implementing feedback from your previous Idea Napkin, generating revenue from your business idea is very important. I think your service is unique in what it provides to the end consumer and agree with you that it is essentially creating a new market.
ReplyDelete