Assignment-11A- Idea Napkin #1

1) You: Being a young college student, I know I obtain respectful characteristics and strong attributes to be a good entrepreneur. I don't know if I am a very talented person unless were talking about athletics or gaming, but I do hold valuable skills and experiences such as quality social skills relating to customer service in my past working at a movie theater. My aspirations in starting my own movie theater business is to mainly just try the adventure of being a risk taker and seeing what could possibly happen when I came up with an idea I was thrilled about. If I were to start this business, I'm not really sure how this would play a role in my life. I am aware that an entrepreneur spends one-hundred hours a week working on their project. This information makes me believe that the concept of starting my own business will most likely have an uneven work/life balance. I'm sure that time away from my family and friends may not be healthy for those relationships, but that's a risk in becoming an entrepreneur.

2) What are you offering to customers? What I am basically offering to my ideal customers is more than just cheaper prices, but more importantly making the movie theater experience something to be excited about again and remember. The idea I am most excited about introducing to my customers, is the membership plan that will be free for all customers that will help them earn rewards and discounts on their next visit to the theater. I believe this plan will be extremely helpful in retaining a good consumption of customers.

3) Who are you offering it to? I am offering my ideas to anyone, but mostly for people who enjoy movies and the film industry. This is offered for people that also can't stand the thought of overpaying for a night out at an event that use to be a weekly necessity to these individuals.

4) Why do they care? I believe these certain individuals will care about my business/service because of the consistent and outrageous rise in cost to see a movie at the theater nowadays, and how my plan to make prices less expensive and to make the overall experience relevant again.

5) What are your core competencies? The one thing that my business will have or at least do to outperform others in the industry is providing superior customer service hospitality to make our customers feel at home. On top of that I believe the membership systems were offering to customers will put us up on that ladder above other competitors.

Summary: I think the elements that my business will provide greatly fit together in the aspects of my business concept. I don't think it's anywhere at all out-of-joint. I think the plans for my business can be similar compared to other theaters in the industry, but I want to make sure the main goal for these ideas is that customer satisfaction is the major goal, to where as other competitors see revenue as the big goal.