29A – Venture Concept No. 2

Opportunity

·      Who has the need? Anyone that would like to save on electricity bills or that would like to look for a more eco-friendly alternative for electricity consumption.

·      Nature of the need? The nature of the need can be found anywhere

·      What are the forces or changes in the environment creating this opportunity?  Our planet needs us to opt for alternatives that can benefit our environment and our ourselves, sadly Carbon particles hurt the atmosphere, a product that runs on solar energy can be sustainable

·      How is this market defined geographically and demographically? This can start locally and become national, demographically it targets mainly those who can afford an investment to save up money for the long run

·      How are customers currently satisfying this need? Very well I must say, going ‘green’ has become a worldwide phenomenon  And how loyal are they to whatever they use now? Very loyal because everyone uses electricity

·      How big is this opportunity? Very big, to get into the solar business is perfect during these days.

·      How long will the “window of opportunity” be open? Luckily for the business a lot of people still focus on petroleum as an energy source, so for some time solar energy will become more like an innovative alternative instead of main alternative.

Innovation

Commercial photovoltaic solar panels absorb sunlight as a natural source of energy to generate direct current electricity, the solar panel system is composed by a module with a connected assembly of photovoltaic solar cells available in different voltages and wattages. In other words, solar panels feed from the solar rays to power complex systems such as houses or industrial buildings, running through an output interface known as the PV junction box to generate electrical series. Commercial panels can produce electricity from a range of frequencies of light but cannot cover the entire solar range, specifically ultraviolet, infrared and low or diffused light...why? Usually commercial panels are produced in mass production, with a silicon based composition that does not allow all photons to be absorbed, our products will be made with a concept design that can split the light into six to eight different wavelength ranges that will produce a different kind of light and direct the beams onto different cells tuned to those ranges, this has been proved to raise efficiency by 50%. Our company will specialize with the production of these solar panels created by our technology team that will stay in constant innovation, creating gradually new products that can benefit our costumer needs. Our goal is to not only produce panels that can be used for buildings, but also to charge electric cars and laptops and phones individually. For whenever you are on the road you can pull out a compact solar panel module that can be carried around as a wireless charger to connect your phone. There is no limit on the alternative an expansion of our products, we will try to optimize prices to make it affordable for our average electricity consumer. Our potential prices would be:

·      Solar panel system for houses including installation prices:

Average price: $18,600. Our price: $16,000

·      Solar system to charge electric cars:

Average price per year for electricity consumption: $734. Our price: $200

·      Solar charger for cell phones:

Average price: $15. Our price: $15 but with a higher quality material

Maintenance fee for quality control and or installation

Average price: 210-220. Our prices: $80 within the state

Venture Concept

Our innovation addresses the opportunity because we will be using the same quality materials that are used for aeronautical rocket ships. A certain kind of aluminum will be used to replace the silicone used for commercial panels. Our products will not be over priced and will stay at a low cost compared to the competitor’s prices. Costumers would switch from their carbon based source of energy to our solar panels if they care enough about the planet and on their long time savings, lack of knowledge or access to $15k will be the only obstacles our customer would face, gladly our company would have the option to make monthly payments instead of making only one payment, we would also include our rewards system that can give products at discount prices for our loyal customers. Our weaknesses and vulnerabilities will be existent at the beginning of our travesty, since most companies already maintain a high influence level on the market. Distribution will be limited at the beginning to only California and Florida residents. The organization of the business will be:

1.     CEO (1 person)

2.     Board members (3 people already considered for the positions)

3.     Technology and innovation department (a team no larger than 10 engineers)

4.     Production and distribution warehouses (5 on each warehouse)

5.     Local stores ( 2 employees)

6.     Online customer services (non-limited)

7.     Online store (administrated by the CEO and the board members)

The three minor elements

Most important resource will be: Our science and technology knowledge along our quality control. Our goal is to produce in high quality for our customers to be happy with our services

What’s next for the venture? Final goal, if the company gets to grow enough, we would purchase a tech company that can constantly work on product innovation and improvement.

What’s next for you? In five years from the start of the venture I would like to become an exemplar CEO that can motivate employees on each level of the company and to take the business first on a national level and then international levels. Would like to create a type of Scholar activity where students that are majoring in STEM career can compete to create new products and win prices and a position at our company. Once the company makes enough money we would make a program where we can install industrial solar panels at no cost on rural areas that are in need of electric assistance that can benefit more than one family at the same time. I am not interested in becoming wealthy from this project, I would like to be able to help as many people as possible, especially young people, because one day they will have the opportunity to become professionals.

2. Barry McDonnell mentioned how the images I included are a nice break from the normal post structure, also liking my idea of including cost breakdown comparing them to other numbers of the competition. He mentioned how this can be useful for a sales pitch and how the company structure is well thought out.

Yehudy Lander liked my organization on the process of the class and how my venture concept has a very well structure and how my target market to business structure is all in order to become successful. My price calculation amazed him and mentioned how this can gain attention from others, Yehudy has been providing constant feedback on my posts and they are all positive and full of great analysis that has helped me improved.

I received no comment on my “what’s next” post L

3. I am happy with my previous venture concept’s outcome.