11A - Idea Napkin #1

Assignment 11A – Idea Napkin #1

1.     You

My name is Hope Dougherty, I am a sophomore Business student majoring in finance (soon to be accounting) and I plan to do the 3/2 Masters in Accounting Program. I am extremely hard-working and dedicated and love to find balance in all of my intellectual, academic, physical, and emotional pursuits. If I were to start this business I would anticipate that I would put my entire life and soul into it, because that’s the kind of person that I am. I would work hard to ensure that I am putting the best possible product/service out into the world and hope that it would change people’s lives for the better.

2.     What are you offering to customers?

I am offering customers the chance to find balance in their own busy lives by providing another way to get healthy meals at home. MyChef is that way. When they don’t have time to cook or would rather spend that time doing something else at home, they can simply order any personal chefs signed up with the program and in their area to come over and make their specialized dish. That way, you are getting healthy, home-cooked meals without any of the time-constraints associated with it.

3.     Who are you offering it to?

I am offering this product to any busy, working professional who sometimes can’t find the time to cook at home. They are also the ones who care about their health and the ingredients in their food which is why they don’t simply want to eat out all the time or order take-out on their way home. They will probably also have a larger family, with kids and a spouse, and so cooking for them would take even more time than simply cooking for one.

4.     Why do they care?

These customers will be the ones that care greatly about their health and happiness. They don’t want any of the health hazards that come with eating out, especially eating fast food all the time. They also want to find balance in their busy lives and would rather spend time with their family, workout, or anything else instead of spending countless hours cooking after a hard day of work.

5.     What are your core competencies?

I don’t think there are any other products/services quite like this one on the market today. Or if there are, I am not aware of them. There are food delivery services, countless fast-food options, and new “healthier” fast food options, but there are no services that will create home-cooked meals for you in your own home. What sets me apart from my competitors is the fact that you don’t have to step one foot outside your house to get this service.

I believe that all aspects about this business mentioned here fit together nicely. My business is about health, happiness, and time management. It is for the working professional who needs a little extra time to do things for him or herself, while getting healthy meals at the same time. The weakest aspect of this idea is that I would need personal chefs to first sign up with the program. I would also need for them to go through a background check and obtain a security clearance before they could be eligible to be a chef.