Venture Concept No. 1

Opportunity

When thinking about my venture concept, I first had to decide what group or groups of people have an unmet need. My first thought was in regards to pet owners. Therefore, my potential customers are pet owners, or more specifically, new pet owners of usually dogs but sometimes cats or other animals may apply too. The forces that created this opportunity is honestly the ongoing evolution of the "lazy human" or the human that looks for more efficient ways to complete a task. Many customers that apply to this category of human are younger adults in Generation Z, aka people around the ages of 23-35. However, my customer base can actually be universally wide spread to any demographic, because many people want to become pet owners at different stages in their life. My focus though is on the younger generation because they are more prone to using new technologies and they are also known for being lazier. Currently people are satisfying this need through manual labor and ineffective cleaning habits that don't need to be completed by the human race. I would say that they aren't very attached to their current method of combating this opportunity. Therefore, this opportunity is big and has a large window for attracting customers. The only limits would be other companies trying to replicate my idea and then creating too much competition in my new market.

Innovation

My idea is radically innovative as I am creating a robot to perform tasks that are usually performed by a human. My big innovative idea is to essential have a "puppy clean up" robot. As in it's name, it will clean up puppy, or other types of pets, messes and make the lives of pet owners easier and more efficient. It will have different aspects to its design that allow it to be flexible and adaptable to its environment. Users will be able to choose their own cleaning supplies that the robot will use - in case a consumer is loyal to their current brands. However, the robot will do all of the cleaning and can be utilized for different surfaces and types of messes. This product will begin to sell at a higher price before it becomes popular and can start making a return profit. Then, hopefully after a couple of months the price will be lowered so that your everyday consumer has the ability to purchase this product. I would say around $50-$60. However, it will last the lifetime of the pet and is very durable.

Venture Concept

My innovative idea will address the opportunity I have previously presented in a way that it will make the everyday person, consumer, and pet lover's life better, easier, cleaner and more efficient. So much time and stress is put into cleaning up after your pet in the early stages of their life. Instead, that time and energy should be put into bonding with and loving your pet. Training it to sit and lay down, that sort of thing. Customers will want to by my product simply because no one likes to clean up pet messes. It will be affordable enough that the supply and demand ratio will be easily fulfilled for the people in todays world. The only worries I would have when presenting my product to consumers is the threat of already present cleaning machines that don't limit themselves to pet messes. Furthermore, I may have trouble conforming older people that don't like using new technologies. Another type of person that may be harder to sell to is a pet owner that has had a pet previously and already went through the difficulties of having a new pet with messes, didn't think it was that big of a deal, and then decides that if they did it once, they can do it again. However, this can also have the opposite effect in that if someone has had a pet previously and said never again because of the messes, my innovation would encourage them to get another pet.

As stated in a previous post, my best resource for making my product a success would be my entrepreneur attitude and people skills to get my idea across to consumers and make them excited to buy my product. I will also be focusing on doing a partnership with a pet store such as petco in order to sell my product through their already credible establishment. When answering the "what's next" for my product, I would say that it can always be improved and new features could always be added to it as the consumers need developed.