With an idea like this, there aren't really alternatives that provide the same service and product. The only other alternative would be giving the recycling to UF at their recycling bins, but they would not get anything in return.
The companies though could use other options for advertisements, so I decided to interview employees and local business owners. When they search for advertising their brand, they would probably be directed to facebook or something like that, but I would go and advertise by hand. Post purchase, companies will be able to see people coming in with those coupons and know it is working. Therefore they would see how effective it is.
After the interviews, I got the same kind of information back as the last interviews, but since it was more involved with the business side of the plan, I got more insight on advertising. I was told that this kind of advertisement is very effective and sought after because of its implementation right to the hands of the people. The main problem with this idea is that I am not established enough for a business to invest in me like that.
My biggest takeaway is that I need to be established or have more connections before a company can faithfully invest in me. To get around that I would need goo connections and partners.
Dear Hassan,
ReplyDeleteHaving a good idea is one thing, but being well connected is something else entirely. Sometimes, your connections are even more important as power is held in people, things that you can see, and not in ideas, things that you cannot see. Building relationships can help you start an effective business as connections can help give you customer bases, feedback, and resources that you could not get on your own.
Hi Hassan,
ReplyDeleteYour recycling idea sounds great! I think it was wise to interview employees and local business owners since they could help you launch your service. Having connections are the key to success in business. Networking helps a lot if you know the correct person that can start you off right. Overall, I think you did a great job with this post!
Hi Hassan,
ReplyDeleteAlthough it would be difficult for bigger companies to believe that you are credible, I think your approach to targeting your audience is a great stepping stone to getting your feet wet. Every company that has ever existed had to start out small, so I do not see why it would not be possible to grab the attention of a current company. Building a good network and showing your passion for your idea will make it much easier for companies and other people to gain an interest. Great job!