Opportunity: The opportunity I have identified was created to meet the unmet need of many Americans throughout the country when it comes to reading. There has been a decrease in the use of public libraries and bookstores across the country. This is something that affects everyone from young children to the elderly. More people need to take the time and read so they can reap the positive benefits that they have on your mind, body, and intellect. Reading has been proven to have many benefits such as stress reduction, vocabulary expansion, memory improvement, and stronger analytical thinking skills. These are just a few of the reasons that reading is beneficial to your health. For kids, reading is a way to start their journey into learning and education. This business will be very useful for parents with children who want to encourage their kids to read. The best thing about our business is that it is marketed for people of all ages. This way we can reach out to everyone and find books that our just right for them. Customers are currently satisfying their needs through the use of public libraries, book stores, and online stores. For many people that is all the options for attaining books, but we are trying to change that. Customers should not need to spend about $20 per book to only read it once when they can subscribe in our service for a low monthly cost and receive up to 5 books per month. They will all have to be returned by the end of the month in our easy to return book box to help with the troubles of shipping them back. Then the next month will arrive shortly after to start the whole process all over again all the while getting more people to read. This opportunity has the ability to spread all around the country to those who are looking to expand their minds and vocabulary to better themselves. If everyone in the country started to read at least one book a month we would be able to improve the literacy rate in our country all by picking up a book and reading for a few minutes each day. This window of opportunity will not close because as long as we continue to make history, history will need to be written about. This is how we pass down knowledge of our past present and future to other generations to come. Reading will never go out of style because it is how we connect to all areas of the world.
Innovation: The service I am offering is a book subscription service that allows customers to receive up to 5 books per month that will be delivered right to their door for a low monthly cost. We will have the option for customers to select from a list of interests for their likes and dislikes to help us create a customized list of books for them to choose from each month. This way we are helping them so select books that they might be interested in because for many people they feel overwhelmed with the vast selection of books. By doing this we are able to help them make a selection for the books they would like to order for that month. With each subscription box you receive there will be a box that you will send the books back in so it is easy and there is no need to go to the post office each time to return the books, just stick them right in your mailbox. The book subscription will vary on price depending how many books you would like to read each month as well as the length of time you would like to have the subscription for. The basic membership that comes with 3 books per month is $24.99 and members will receive discounts after they have been with us for 6 months continually. We hope to encourage as many people as we can to start reading by bringing books fright to their door each and every month.
Venture Concept: The service I have identified will address my opportunity through bringing books to people right at their doorstep for a low monthly cost. Our main goal is get more people to start reading again so they can reap all of the important health benefits associated with reading. Such as; stress reduction, vocabulary expansion, increase in analytical thinking skills, and memory improvement. These are just a few of the added benefits to picking up a book and reading for a little bit of time each day. We have added a section just for kids so that they can go online and chat with other children around the world about books that they've read and enjoyed. This way we are able to spread the joy of reading all around the world to children of all ages and increase their likelihood of success. The business also wanted to help cut down on the prices that people would pay to buy a new book each month. Our service is designed to basically rent books each month and then return them for new ones that you will have selected on the suggested list of books for you that month. Customers will be likely to switch because we are offering multiple books each month for a low cost that are easily accessible and returnable. The hardest part to getting people to switch is how they will hear about us. We will need to have a great marketing team that will be able to push this company to the top. Our competitors will be public libraries, book stores, and online websites. We will be cutting down the prices for books unlike book stores ad online websites who charge about $20 per book. We hope this will incentivize people to subscribe and save using our website. The whole operation will be run out of a large warehouse so they we can keep all of our inventory together and accounted for. Location is not necessarily important since we are shipping all around the country. We will try to reduce cost and make things as efficient as possible to reduce the amount we have to pay in distribution and packaging. Once we get started we will have a better idea of the number of books and employees needed to get the job done in a smooth and efficient manner.
Feedback: The feedback I received was very limited but overall it was positive. One person recommended that I should find a way to create a more fun atmosphere for children so that they are even more excited by the idea of a book subscription. Such as have an online kids space so that they can go on and chat with other kids around the world about the books they have read. This way we can spread the joy of reading all over the world to children of all ages. There have been proven health benefits as to how reading can reduce stress, expand one's vocabulary, improve memory function, and create stronger analytical thinking skills. All of these added health benefits will allow these children to have the necessary tools to allow them to succeed in life. I thought that this was a great idea mentioned in the feedback I received. I changed my venture concept to include these changes so that we could encourage more children to take part in this business and spread the gift off reading all over the world.
