Assignment-19A-Idea Napkin #2

1) You: Being a young college student, I know I obtain strong characteristics and certain set of skills to be a good entrepreneur. The experiences and social skills I hold with me from working in a movie theater will make a difference in my journey of entrepreneurship. My aspirations in starting my own movie theater business is to just take a risk in my life for once in a while and like I said from working in a movie theater, I have seen the ways certain things are run and I believe if I did things differently, I could end up seeing success in those certain changes of the business.

2) What are you offering to customers: I am offering my customers a rich and traditional movie theater experience that includes a cheaper cost in tickets and concession. Rewards, discounts, comfortability, and an overall good attitude in offering our service to them.

3) Who are you offering it to: I am offering my service to obvious movie lovers, teenagers who are looking for a cheap and lifetime full of good memories. I am also offering my service to husbands and wives who have a big family, as we want to be a family friendly theater for the most part.

4) Why do they care: I believe these different group of people enjoy their experiences and times spent with others at a movie theater. But, most importantly if they realize it's very affordable, that would only start a trend of coming back for more visits and spreading the word out to their friends, family, and community.

5) What are your core competencies: The core competencies that my movie theater business will offer and take very serious is the ability to offer solid customer service and hospitality to all customers no matter the situation. I still think the customer membership system I plan to install as part of the business will give us an edge over other competitors.

I truly believe that all five of these elements fit together to make a successful business. The customer segment is what makes our business thrive. The business relies on all sorts of customers so it's important in the movie theater business to apply strong soft/social skills to customers. That's why I think the customer membership system is what will win them over to attract future revenue from future visits to where it's a reliable relationship between my business and the customer in the way they receive rewards and discounts from how many times they put money into the theater.

Feedback Summary: Two main points I took away from the feedback memo from my first napkin idea is that I wanted to a better job in identifying what I was trying to emphasize as to what would make my business successful, in that case it was the customer segment. The second point was to make better sense in how these five elements molded together and in that circumstance it was how the relationship with customers makes sense with all five elements together.