For this assignment I interviewed some of my neighbors and family friends. I learned that although they probably should have the unmet need that I identified, they don't for a few reasons.
Who: There are certain people that share a lot in common with the others in my opportunity but fall outside the boundary. Some people either already have someone they trust to put the shutters up at a price they're happy with or have accordion shutters that can be done manually simply by sliding them across. Also, some homeowners use wood or other materials to cover their windows during hurricanes.
What: My idea is based upon the assumption that people want themselves and their homes to be protected during storms for a low price. However, some people might not have the money to be able to purchase the shutters in the first place and that creates a problem for them. If they buy the shutters and have them installed, they will be safe but they will have much less money to spend on other things. If they don't buy the shutters, they could have more spending money for necessities such as food and water but are at risk of losing everything from hurricane damage. Money is the main factor that would affect my idea.
Why: No, the underlying cause of the outsiders' need is the same as the people in the boundary. People want to be safe and secure during natural disasters such as hurricanes. Hurricanes are extremely destructive and unpredictable. People should have the urge to protect themselves and their homes no matter what. It is better to be safe than sorry. Available money and loyalty to other people who install shutters are going to limit the amount of customers I get.
This exercise helped me further practice opportunity assessment and determine the outer limits on my opportunity
Inside the boundary Outside the boundary
People who can afford this service People who don't use shutters
People who are looking to save money People who have sliding shutters
People who have hurricane shutters People who already have someone for the job People who want to be safe
Safety and protection during a storm Affordable/free
Cheap labor that could potentially save lives
COVID-19 has decreased everyone's budget Homeowners can't afford this service
People want to be safe during a hurricane
People are always looking to save money
Hi James!
ReplyDeleteI can see how some people may not understand the importance of the service you’re offering. At the same time, I would almost bet that those same people would feel a lot different when there’s a hurricane on its way toward them. I think a service like this would be very seasonal, since most people aren’t thinking about hurricanes and storms in say January and February. Being able to stress the importance of acting proactively, will help convince customers that don’t see the immediate priority until it’s too late. Since I live in Florida, I know the importance of being prepared in advance.
This comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteHey James,
ReplyDeleteThis is a good breakdown on your market, and I get bullet points you make for "outside the boundary". It's only a matter of time for the people who "don't put up shutters" to whistle a different tune when a storm actually causes them to have to submit an insurance claim that could have been avoided. Their deductible will probably outweigh the cost of your service. Sounds like your business will be small and word-of-mouth advertised, but effectively convincing people of the risk they bear if they don't do anything can change a person's viewpoint.
-Kyle Drake
Hello James,
ReplyDeleteI once thought everyone must need shutters in home becuase hurricans is really destructive. I thought no one will refuse someone to help to put on a shutters, unless he can install for himself. After reading your work, I realized that someone may find other people they know much better to help to install and pay less money.Also, not everyone can afford the shutters. Although the price is already low, not everyone can afford it. For this reason, they may choose other material. But I still think the opportunity is great and solution is not bad. We can not just keep on lowering price so everyone can afford it. But I do think safety is the most important thing. For me, I will definitely find someone to install shutters for me.
Hello James,
ReplyDeleteAs mentioned in your previous blog posts, I like the idea as well as the solution you are presenting. I feel like your application to this issue is one that many folks will take advantage of due to their low cost as well as local trust. I like some of the “outside the boundary” you have stated as I was thinking about some of those myself, especially people who already have shutters or people who have other alternatives. Great post!
Hi James,
ReplyDeleteI think it is really important to take into account the affordability of your service especially in certain times such as now when people’s budget may be lower than usual. Not only can a customer’s loyalty to a specific group may fall apart, but the customer may start searching for another cheaper service that can help them with what you need. This therefore can open up more people for you even if they do not have as much money as they used to.
Hi James,
ReplyDeleteGreat post! As a South Florida native, I know the hassle of putting up metal hurricane shutters all too well. I think your idea for a hurricane shutter service is a great idea. This service could be especially useful for snowbirds because they have already gone home for the summer and the elderly who may not be physically able to put up shutters anymore.