I honestly found that the idea napkin very
helpful. Every time I met people they had different ideas on what I could add
to the car. Finally putting it on the napkin made me realize that I might be providing
too much or if what I am providing is even wanted. Throughout this activity I
had to differ what I truly wanted representing my product to make it a must
have for customers.
Daryl,
ReplyDeleteAs much as I would like to see more competition with the car industry and big business in general, I just do not think it is probable. Especially, the level of engineering that you were discussing in the picture. Just the concept of an electric car seems like you would need years to figure out even with a team. You also have to consider supply and demand with your model. You want to provide a more affordable model, but if the equilibrium is higher than what you sell it at, you will constantly see shortage of the product. Not to mention, low profit margins that would prevent investors from wanting to be a part of your business. If you think about it, Tesla has yet to make money and only stays afloat because of investors. Even with their high price point, they can't turn a profit. That is definitely something to consider if this is what you want to pursue. Keep working hard!
Daryl,
ReplyDeleteI enjoyed illustration made on the napkin, I found it surprising that not everyone decided to take advantage of this creative opportunity! One factor that Dr. Pryor mentioned was in regards to what sets you or your business apart from others. That being said, I think this could've been elaborated on your idea napkin. Furthermore, this market is consistently changing with time, it would be essential to get into the industry soon as technology is progressing at a fast rate.