Forming an Opportunity Belief
1) Your beginning point. I believe that people need a more specialize and organized travel website.
2) Describe your belief.
First, what is the unmet need? People face the challenge to organize their vacation. In need of local travel agents that would have the expertise needed.
Second, who has the need? People that dislike wasting time to do research and prefer to seek help for their vacation instead.
Third, where did the need come from(is it new, or has it always existed)? It’s fairly new. These past few year, most people go online for everything including book their travel/vacation.
Four, what are people doing to meet this need now? (These four elements are important -- we'll come back to these.) People use concierge services, travel agents, or existing website.
At this point, how sure are you (say, in percent terms) that this opportunity exists?60% sure
3) Identify the prototypical customer.
4) Iteration No. 1:
What is the exact nature of the need? Traveling to different destination would need a specialist to guide you through it.
When do they become aware of the need -- that is, do they experience their need all the time or only sometimes? Only prior to travelling
How long have they had the need? Since they started going on vacation
When did they first become aware of their need? The first time they travel with their parents that were clueless about Italy and haven’t organized prior to the vacation.
Why? How are they currently addressing their need? Asking friends and coworkers about their experiences
How satisfied are they with this solution? Not satisfied
Reflect. What did you learn about your opportunity? What was the most surprising thing you learned about your opportunity? I was not really surprised that there is a need, but I am not sure if they are willing to pay for the service.
6) Iteration No. 2:
What is the exact nature of the need? In need of a face to face interaction.
When do they become aware of the need -- that is, do they experience their need all the time or only sometimes? Prior and during the travel and also while choosing the destination
How long have they had the need? Since he could remember
When did they first become aware of their need? unknown
Why? How are they currently addressing their need? He goes on Expedia to book flight ticket, hotel, and rental car.
How satisfied are they with this solution? Very satisfied
Reflect. What did you learn about your opportunity? What was the most surprising thing you learned about your opportunity? I am wondering how I can attract satisfied customer. What can I do to make a difference between what I have to offer and the existing websites.
Iteration No. 3:
What is the exact nature of the need? Traveling to different destination would need a specialist to guide you through it.
When do they become aware of the need -- that is, do they experience their need all the time or only sometimes? Only prior to travelling
How long have they had the need? Since they started going on vacation
When did they first become aware of their need? The first time they travel with their parents that were clueless about Italy and haven’t organized prior to the vacation.
Why? How are they currently addressing their need? Asking friends and coworkers about their experiences
How satisfied are they with this solution? Not satisfied
Reflect. What did you learn about your opportunity? What was the most surprising thing you learned about your opportunity? I was not really surprised that there is a need, but I am not sure if they are willing to pay for the service.
7) Summarize. Three questions:
How much of your original opportunity is still there? The original opportunity is still there, but I need to be open to customer feedback to customize it to their needs.
Do you believe that your new opportunity is more accurate than when you started? The opportunity is accurate, but needs more refinement, to make the difference from exciting product.
How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback? Entrepreneurs should definitely adapt their opportunities based on the customer feedback, because after all, we are finding a solution to their problem, and the customer is always right (at some extent). Especially when you are receiving the same or similar feedback.
ReplyDeleteHi Imane,
My major is related to Travel and Tourism, and I can understand your point of view in this specific situation. It is true that with the advances in technology, especially the internet as you mention above, traveling has become more available and faster for customers, therefore, many travel agencies offered for the public to get travel recommendations and buying their tickets as before are no longer available, since all the information can now be found online. However, I personally would prefer a specialist to help me to choose my travel experience, to inform me of any circumstances I might encounter while traveling and how to be prepared, sometimes it even helps with getting a better price, but the internet has definitively changed this aspect of traveling. I believe it is a great idea what you have in mind, I think that in order to attract customers you will need to find a more interactive way to have customers change their mind from booking online to go to an office and book their travel experience, especially young customers. This class will definitively help you to come up with an idea if you do decide to continue with this business idea.