Venture Concept No. 2

My Business' Name: Sunshine Products :)

Opportunity:

I found an opportunity in making a small change to people’s everyday lives in order to help our Planet and stop the Climate Crisis. The way I have found of filling this opportunity by creating a solar-powered charging phone case. This market consists of two key demographics: those who like to be with the newest trends and those who care about the environment. Those who care about the environment will ideally start buying this case, for its benefits in portable charging and also its use of a renewable energy source. Right now, there are charging cases, but none that are affordable or able to be used by the UV power of the sun. Then, when environmentally conscious people start to use it, people who like to keep up with the trends will start to buy the case as well. The people who genuinely care about the product will be lifetime users, as will those who use it for the portable charging capabilities. This loyalty will be a huge part of the advocating process for the product as well, as each person who uses it for their lifetime will be essentially advertising the product for free. This window of opportunity will be open for as long as people need to charge their phones. This opportunity could revolutionize the phone accessory market. This market could be huge, as most people in the United States, have some type of phone. I would make the case for multiple different models, so all who wanted to purchase one would be able to do so. 

Innovation:

My innovation is a phone case that has solar panels and a charger attached to it. The phone case will be sleek, designable, and similar to any other phone case yet will have a button that exposes the panels. The panels will then absorb the power from the UV rays of the sun and the case will become available for charging purposes. The solar panels that slide out on the back of the case will collect UV rays and convert them into energy. That energy will then be transferred into the attached charging piece and will begin charging your phone. With the click of the "save" button on the side of the case, the energy will then be stored in the case from that point forward. Then whenever you need battery, you can click the charge button, next to the save button, and your phone will begin charging again! Therefore, this case will use a non-diminishing form of electricity to charge the case. The case will be able to be designed, which will make it a perfect fit for anyone who wants one. The perfect design, along with portable charging capabilities, and also an environmentally positive product will be incredible benefits to all who are considering buying the product. For that reason, I want each case to be around $40, which is just $5 more than most phone cases I’ve seen. The customer is paying for a phone case, but also a bit of a clearer conscious and portable charging capabilities. 

Venture Concept:

I think that the portability of charging, design capabilities, and positive environmental impact will be the reasons for customers to switch to this new product. I do not believe that it will be that difficult to get them to switch, as the price difference is not that much from any other average phone case. Also, people like to believe that they are making a difference in the world in the easiest way possible, this case is a step in the right direction. My competitors are those that are going to try and make the same product, or create different types of phone cases that also draw in new customers. I think that my possible weaknesses and vulnerabilities are that the case will most likely have technological kinks at the beginning that will require a lot of research to figure out. This technology will take time to develop and in the meantime competitors may also be working on the same idea, this is my weakness. Packaging will be simple, yet representative of the environment, so maybe a stitching of flowers by a group of less fortunate people that we can pay fair wages. It will also be made out of a biodegradable material, to continue the idea that the point of our company and products is to save the environment. The price point is also a key aspect; I would want to charge close to the average price of a phone case to further the idea that our company does not care as much about profit as it does saving the environment. The customer experience will all be geared towards helping the environment, through the packaging, the price and every other aspect of the brand. To top it off, a percentage of all sales will go to an environmental non-profit of the customers choosing, from a list provided by our company. I would make sure that each of my employees, those creating the product, selling the product, and providing customer service all remain goal-oriented and are kind to each of our customers. I would like the amount of employees to constantly be growing, anyone who wants to make a real difference should be able to find a spot in our company. 

Secret Sauce/Unfair Advantage:

My Secret Sauce is the passion and drive I have for saving the environment. I truly am not making this product for self benefit, I believe the brand and company as a whole’s goal of saving the planet will set me apart. There are brands that have similar goals, but work to make profit and will sacrifice the integrity of their brand to make said profit. For that reason, my Secret Sauce will drive my company’s advantage and will make it hard for others to copy my success. 

What’s Next?

I will continue to create products that create small changes to help individuals do their part in saving the environment. I want to create a line of products that are all small changes to the line of technology, such as solar-powered AirPods cases, a portable charger with USB ports that preserves solar energy, etc. It would be really amazing to see my products change the how people view the ways to save the environmental. 

What’s Next For Me? 

I want to be an Environmental Lawyer in 5 years. With that being said, I think that having a law degree would be an incredible background to further this venture. I could help companies integrate my products into their business ventures, helping them reduce energy costs with the power to preserve solar-energy in their offie products. I could also write the contracts for the companies when working with each other stating that each company involved must use solar-powered products in order to do business with each other.  

Feedback:

I received feedback in relation to my Innovation section. I was asked to go into more detail about how the case itself would work and the charging capabilities. Therefore, I kept everything I had and added additional sentences and information about how the case will charge the phone and the different charging options. I think this makes my venture concept more clear as to how to product actually works, which is important for my customers.