11A – Idea Napkin No. 1

1. Who I am:

My name is Nick Lorenzo, I am an undergraduate business student at the University of Florida. I aspire to work in marketing for an international business with sustainable and ethical business practices. My talents include working well in a team environment, communicating effectively, and analyzing information. I have worked in a marketing capacity in the past and I am in currently doing so while interning in London this summer. I see this business serving as a potential secondary income source in my life.

2. I am offering my customers a service that enables them to discover new cooking recipes, discover what they can cook based on what they have on hand, and to some, physically deliver ingredients for recipes based on their taste preferences to their door. This service will reduce the time they spend thinking about what they are going to eat and get them straight into the cooking process much faster.

3. I am offering this app to anyone that struggles with this issue and has this particular unmet need. My primary target market is young adults (18-26) as the majority are relatively inexperienced when it comes to cooking and often lack the time to be able to properly make meals a lot of the time. I am also targeting adults in general that lack the time to think about what they are planning to eat that day either due to family commitments or work commitments. For instance, mothers that are constantly busy and on the run could greatly benefit from this app. These customers have the fact that they are typically low on time and considering other priorities in common.

4. My future customers will hopefully be interested in this service as many of them will recognize the sheer amount of utility it will bring to their lives by way of reducing mental effort, time spent planning meals, and allow them to spend their time on things of higher importance.

5. What I have that nobody else has is my specific combination of life experiences, skills, and passions. The mixing of these facets of my life has given me a perspective on life different from that of anyone else, as everyone has a different combination of these three important factors. My limited experience with marketing, working with others, and passion for foreign culture will hopefully assist me with developing this business model.

In terms of the bigger picture, I believe that the combination of all of these elements that concern both my business idea and myself, as an individual, provide my business concept with both advantages and disadvantages. In terms of strengths, I will likely be able to work fairly well with a team when developing this idea. Beyond that, I personally relate to the need to have this service exist and I understand where my target audience comes from. In terms of areas of improvement, I do not have a ton of experience in the field of business and I am not very experienced as a cook, so as such, I will be limited in some regard as to how I will develop those facets of the business. I hope to mitigate these shortcomings by working with others that do have experience in those fields. 

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