Question

Assuming you had the financial and human resources at your disposal, what new venture would you start and why?

Please complete the following assignment for an idea you have for a for-profit, non-profit, or social venture. This could be any type of venture that you have an interest in or have potentially considered starting in the future.

Please feel free to use charts, graphs, pictures, tables, or bullet points to convey your message. Please use research as necessary to support your claims.

The paper should include the following four sections:

1- Problem
a) What is the problem within the marketplace that you are trying to solve?
b) Why does this problem exist?
c) Who experiences this problem?
d) How many people/companies does this affect?
e) How do they currently deal with or solve this problem?

2- Solution
a) How do you intend to solve this problem?
b) What features or services will you offer?
c) How will you generate revenue?
d) How will you be different from your competition?

3- Customer
a) Who are all of the potential customers who could purchase/use your product/service?
b) Who is the specific customer group you will initially target?
c) Why did you choose this group?
d) How big is this group?

4- Impact
a) How big or small do you plan to be?
b) How will you grow the venture?
c) How do you plan to impact the world around you (if any)?

Solution Preview

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Technology is an ever-evolving industry under many changes with the use of more mobile Internet customers. The amount of people using smartphones and apps is experiencing exponential growth. The market for new ideas for applications is going at a very fast pace.

The company I would start would be called Travel Tracker Inc. It would be operated under a for profit LLC corporation. The business model would consist of having an app that shows estimated public transportation arrival times and maps. This application would service all large cities in the United States....

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