Entrepreneurship Diary of Business Ideas - Essay Example

Entrepreneurship Diary of Business Ideas Online interactive software support and trainer The online interactive software support and trainer is meant to provide interactive support to all computer users. The software will be designed in a simple manner to allow users obtain technical support on various programs and applications that they will be using over the internet. By simply typing a question, users will be connected to an online support assistant who will be able to fully answer their questions. In addition, users will be provided with training on how to use most of the software and hardware components of their computers. This idea was the result of numerous times where I had scavenged the internet for user forums and text material for support on how to use some programs. Some of the hardware components had often failed to work as expected prompting me to waste needless time over the internet seeking help. The help provided by these sites and forums was also not very clear resulting in frustration and innovation. On the innovativeness scale i would give this idea an 8 because i consider it a very innovative idea. It would essentially stem from a modification of another idea because the concept of an interactive online support system is not a new concept. There are many online platforms that offer help and support on various programs but not on the essential ones like Document processing and hardware use. This program will be relatively easy to implement and on the implementation scale i would give it a rating of 6. This is because there are already programs that operate on the same principles that will be used to design this one. However, a few key areas will need to be explored owing to the extensive content and information that will be included. The three main challenges that this business idea may encounter include staffing (Confederation College 47). Because the program relies largely on the concept of real time interaction, it is expected that a set of staff will be available to cater to clients queries twenty four hours a day. In addition, there will be need to recruit staff from diverse background and experience to cater to users needs. There will be economic challenges pertaining to meeting the demands of such type of staffing. Technological constraints will also be expected because such a platform would have to be carefully engineered. Computing requirements to manage such a system will have to be carefully reviewed to ensure they are able to support large volumes of data streaming. Vending Machine Dispensing Fruits and Vegetables This business idea involves the development of a vending machine that will be able to dispense healthy fruits and vegetables instead of sweets and sugary snacks. The vending machines will be specially designed to be able to safely store fresh fruits and vegetables. This will be done through an efficient cooling system that will be able to preserve the fruit and vegetables for some time. The vending machine will also be fitted with a slot that will allow consumers to slot in a certain amount of money before receiving their desired product. Fruits and vegetables will have been sufficiently cleaned before being placed in the dispenser and will be ready to eat. Appropriate packaging material will also be included to ensure consumers get their product and are able to consume it without risking contamination. The idea to set up vending machines that can dispense fruits and vegetables resulted from the need to have healthy foods in public places and areas currently occupied by the usual vending machines. These machines are found in critical areas like schools and hospitals that could otherwise benefit from healthy snacks. It would be a way to encourage healthy eating habits among the young thereby cultivating a culture of consumption of fruits and vegetables at an early age. In the long run, this will contribute to a healthier generation of youth that have a lower incidence of diabetes, hypertension, obesity and other lifestyle related diseases. Tooth decay among children will also be significantly reduced thereby lowering the number of hospital visits among this group. Overall would be a decrease in the amount of money spent on healthcare by the federal government. On an innovativeness scale, this innovation would be given a solid 7. This is because it is a modification of an already existing idea. However, it brings into light various aspects that greatly bring out the usefulness of the original idea. This innovation may not be very easy to implement because of the perishable nature of fruits and vegetables. The vending machines would have to undergo a significant level of modification in order to be able to store these products in a safe manner for a certain period of time. Various challenges will be encountered in the design of this product. Consumers may not be very receptive to this concept because of the nature of products with which vending machines are associated with. It may take time for the product to gain popularity among consumers necessitating the need for an aggressive marketing campaign. Technology will also present a constraint because of the perishable nature of the product. An efficient cooling system will have to be designed to ensure that fruits and vegetable remain fresh. Because any manner of food handling is subject to contamination with germs, it is essential that such systems remain efficient to prevent food spoilage and subsequent poisoning of consumers. Several food handling bodies will have to be consulted and approval sought before this innovation ever hits the stores. Fruits and vegetables have a sensitive expiry date and are subject to contamination if temperature and other environmental conditions are not sufficient. Several controls will have to be set up to ensure the product can sufficiently preserve fruits and vegetables for sale. Real-time translation devices This innovation consists of a pocket size device that will be used to eliminate the language barrier that is associated with foreign interactions among people. It is common that businessmen have held meetings with foreign investors and been unable to successfully achieve understanding. Others have been completely discouraged from engaging in such types of transactions because they are unable to communicate. This device operates by receiving verbal input from one user and translating it to a desired language at the touch of a button. In addition, the owner can also speak into it and have it translate back the response in a language that can be understood by the other user. The innovation resulted from a great need to venture into business in foreign markets. These markets present a potential for business that is untapped. As such, these devices make communication possible. This device is very innovative and would receive a 9 on the innovativeness scale. This is because there are no devices that have been designed with such a capacity over the years. Currently, there are only hand held dictionaries that have been designed to allow businessmen to learn foreign languages. But they take so much time to use, are cumbersome and present a significant barrier to quick, effective communication. The device would be relatively easy to implement even though it would present various obstacles. It would receive a 7 on the implementation scale because it would widely be accepted by consumers once it hits the market. It would be very popular among businessmen because it would enhance cross-cultural communication in the areas that they visit. However, a considerable level of research would have to go into the development of the project. This innovation would encounter various challenges top of which is financial constraints. It would require a significant amount of funding to design this device and ensure that it is able to deliver content to users appropriately. Software and hardware designers would have to be engaged to allow the creation of this innovative product. Technology would also present a challenge because a balance will have to be created between the products size and functionality. It would have to be large enough to hold the required hardware and software yet small enough to fit into users pockets. Pricing for this product would also present a challenge to its implementation in the market. Because the device would rely on specialized technology, it would require various expensive parts to ensure design and functionality. This will translate into the end product pricing that may be prohibitive for some buyers. Online real-time personal trainer Ever wanted to work out at home but there was simply no one to motivate you? Well the online real-time personal trainer could just be the person for the job. With an increase in the number of people who are resorting to the internet for exercise routines, there is need for a personal trainer who can provide proper guidance while performing these exercises. It is difficult to exercise alone in the home when going to a public gym seems impossible. To ensure personal accountability, the real-time personal trainer simply invites a personal trainer from the gym to ones living room. The personal trainer provides users with guidance as soon as they log in and for a specified period of time. The idea stemmed from the fact that most people exercising in the home were more likely to give up on exercise along the way. This is either because of boredom from a similar routine every day or from inability to perform some of the exercises being shown. A personal trainer is able to evaluate some of these exercises and prescribe those that are appropriate for a particular person. The online real-time personal trainer is also able to provide support, motivation and tips to ensure that users stick to the prescribed form of exercise. At a time when lifestyle diseases like obesity are on the rise, this program is essential for proper weight management for many people out there. On the innovativeness scale, this product can be a rating of 8 because it is very innovative. Most online sites only offer users with videos of exercises that they can use to manage various body parts. However, this idea goes ahead to include a personalized trainer who actively interacts with users to ensure they are able to perform various exercises. The user is able to address any questions or concerns that they may have about the exercise in real time. This concept would be fairly easy to implement because it would only require a registered personal trainer to operate. However, they would have to be several in numbers to ensure that they are able to cater to the needs of various users. Software to support interactive online forums is already available hence it would be relatively simple to set up such a program. On the implementation scale, this program receives a 9 because it is relatively easy to implement. Significant challenges would be faced when it comes to staffing because a good number of personal trainers will be required to maintain the use of such platforms. This would translate in staffing costs that will be met by the entrepreneur. Economic challenges would also encountered because of the challenges of costing that would be encountered in the implementation of the program (Confederation College). Crowding and overload of the systems would also be experienced because there would be an influx of users. The program is currently perceived by many as being beneficial owing to the number of people who already subscribe to online exercise programs. Introduction of this program would be met with a great level of enthusiasm that may overwhelm users. Trade in waste for free mobile credit Waste management is a challenge for most civilized nations. The use of plastics, metals and glass is bound to generate some level of waste that if not properly managed can cause great devastation to the environment. This idea thus seeks to encourage citizens to manage their waste more efficiently. By creating several collection points for waste, this program seeks to get people to bring in as much waste as possible to defined collection centers after which they are awarded with mobile credit. The amount of credit issued is described in a rate that is provided to users beforehand. The mobile credit is immediately transferred to their mobile phones as soon as the waste has been delivered, weighed and accepted. There is no limit to the amount of times that a person can bring in waste in a day. However, greater points are awarded for those who bring in waste that is more hazardous to the environment like lead batteries and used computer parts. The idea resulted from the ongoing degradation that is going on in the environment as a result of poor waste management. This concept will encourage people to collect waste from their environment. This will make them more responsible for their waste and subsequently, their environment. Mobile credit is a great incentive because it is widely used by most people in society. Even those without mobile phone can simply trade it in for monetary compensation from another person making it a suitable form of incentive. The idea is very innovative because it approaches waste management from the perspective of the user. It allows a person to benefit from efficiently managing their waste thereby making them more responsible for it. On the innovativeness scale, it would receive a 7. The innovation would be fairly easy to implement and can be rated on the implementation scale as 5. This is because its success would largely depend on the nature of communication that is provided beforehand about the exercise. Since direct monetary compensation will not be provided, most people may not be very willing to participate. In addition, managing collection centers for waste will require efficient management systems to ensure they are not the subject of issues of corruption or theft. Collection points will also have to be paced at strategic points to ensure very person is in close proximity. It would face financial challenges of implementation because money will have to be spent on staffing and creation of collection points. In addition, mobile credit will have to be purchased in large amounts to cater for payment of users. Paying for items in a supermarket with your finger This idea seeks to have people pay for items in a supermarket with a swipe of their finger. Special machines are used alongside fingerprint recognition software to allow people pay for their required products by simply sticking their thumbs on the machine. Carrying credit cards and cash to a supermarket places one at risk of vandalism. At times, one may even forget these vital documents in the house and find themselves needing something from the supermarket. It is thus efficient to have this feature so that a person can simply walk into a supermarket and pay for their products without cash or credit cards. On the innovativeness scale, this idea would be placed at 9 because it is quite unique and convenient. It modifies an already existing component of paperless money by introducing it into an environment in which it has previously not been used. Implementing this idea would be very simple because it would only require the placement of these devices into supermarkets. It would however require the consent of supermarket officials first before it can be rolled out. It would receive a 9 for implementation because there would be few hurdles during implementation. Challenges involved in implementing this idea include the financial cost of set up. It would require a significant amount of funding to procure finger detection devices for this use. The device may require electricity to operate. Lack of electricity on a particular day may prevent many users from accessing the system leading to frustration. The system, being electronic, may be subject to a certain level of fraud through hacking. This may lead to loss of user funds that may have significant consequences and ultimately prevent many people from ascribing to its use. Work Cited Confederation College. Entrepreneurship and Starting a Business. Toronto, Ontario: Productive Publications, 2013. Print.  Read More