29A - Venture Concept No. 2

Recently consumers have become more and more concerned about how their products are being produced and who is producing them. This has created a need for software that figures this information out for the consumer. Because of this need, I have created the app Sustainable Shopper which will allow customers to find out the environmental footprint of the items they purchase and how ethical production was. This would mean that customers no longer have to worry about what they purchase and can shop guilt-free. 

Switching to sustainable shopper will not be difficult for consumers considering the fact that there is no competition to switch from. My app is new and unique which gives it an edge thanks to the fact that it’s one of a kind. 

My business would take place in the online marketplace via the app store or the play store. It would be free with ads and the option to subscribe for an ad-free experience. This means that the app is approachable to all customers but there is a more exclusive experience for a price. 

I think that my venture’s “secret sauce” is the fact that we don’t really have any competition. While there is an app that checks food, there aren’t any for other items like clothes, furnishings, or electronics. Because of this, I think that we would have a real advantage from the start that would be hard to replicate. 

After the initial roll-out of the app I see Sustainable Shopper creating a membership service where not only do they get to go ad-free, but they also get exclusive deals on sustainable items. From there I can see it expanding into an eco-friendly online marketplace. All of this would of course be done in stages in order to gain momentum. 

Five years into this venture I want to be successful enough to create the marketplace I mentioned above. Because while there is no truly ethical consumption under capitalism, we can do our part to make it a little bit better. 

2. The feedback that I received about my first venture concept was largely positive. I think that what I learned was mainly to stay on course with my plans and things will go well. 

3. I haven't really changed anything with my venture concept because I think that my first version was pretty strong. 

Comments

  1. KayleeHollerAugust 6, 2020 at 9:09 PM

    Hi Riley,
    I agree that your first version’s concept was pretty strong and covers everything that you want to achieve long term with this venture. I think it’s I sent you the correct completion code great that you are rally aiming to make the world a better place and aren’t really focused on making tons of money. You have done a great job!

    ReplyDelete
  2. Emily DulbergAugust 9, 2020 at 7:10 PM

    Hi Riley,
    I think that your venture concept was really strong the first time and you didn't need much touch up on the second one. You know what your goals are for the future which is really important when outlining what you want your business to be. Great job!

    ReplyDelete
  3. Jakob HudanishAugust 10, 2020 at 7:56 AM

    Hey Riley,
    I also agree that you had a good grasp on your venture concept the first time around. Your posts are always great to read and they demonstrate insightfulness and logical thinking. Great job and keep up the good work!

    ReplyDelete

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