What’s Next
Existing Market
For the next steps of my business idea I would like to incorporate partners and expand into bigger markets, offering tech solutions to a wide variety of individuals and hopefully businesses.
Interviews
Interview 1: After asking for advice into how to grow my venture this person suggested focusing on my current clients. He advised me not to rush into expansion so quickly because it can leave cracks into how my business operates, his advice focused on customer loyalty.
Interview 2: This person is a young entrepreneur, his advice consisted on planning very well who my team would be. He suggested to open the possibilities of extreme marketing in order to get my business idea out.
Interview 3: This individual manages a lot of employees, he advised me agains hiring a lot of people due to being capitalism intense and unnecessary at these stages of the project. In order to scale big he advise to start small as well and try to do as much by myself.
I can see a great future in this company assisting everyone who might need a little help using technology and understanding it. The plan is to develop long lasting relationships with customer and cater to their needs.
New Market
A new market to approach would be that of the home service repair market. I believe that my business idea can connect well enough to provide a lot of assistance in many different areas. I believe that after having a good loyal customer base this option can allow to more than just simple home troubleshooting but rather giving opportunity to a much bigger sector, that being of in home repairs for phones,laptops, tablets.
Interview 1: This person advised me against in home repairs due to the liability problems, they said that it can be quite difficult for customers to request a repair rather than buying a new device.
Interview2 : This person actually liked my business idea and suggested that I should recruit personnel that can deal with a small quantity of repairs, as in to try the model to see if it can be applicable.
Reflection
I learned that in this new market there can be quite a lot of competition, for device repairs and troubleshoot there is a very big amount of companies already established. This new market does not seem as attractive but it can be a good expansion, however I believe that the service I wish to provide has relatively low competition increasing my chances of growing.
I enjoyed reading your post. I think that looking to do in home repairs could possibly work, but I too would be worried about the liability. People are very litigious in this day and age. If you are trying to repair someone's computer and cannot, they might try to state that you broke it to begin with. You would have to make sure that whatever contract they agreed to kept you and your company off the hook for any issues. Again, good job!
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