4A Forming An Opportunity

1.     My belief is that there is a need for a social media managing software for influencers, social media marketers, and business owners.

2.     The unmet need is that individuals who use their social media for their business must keep track of social interaction, engagement, reach, content, and separately and most of the time become overwhelmed or must hire outside for help. There is no one software that allows all social media outlets to be controlled or accessed in one setting, especially via laptop or pc rather than mobile. Those that have the need would-be influencers, company owners, online marketers, anyone who uses their social media to reach an audience for business purposes. This need has been prevalent for the past decade with social media becoming the main platform for business and marketing opportunities. To meet this need now individuals or companies are outsourcing social media assistance from individuals who still run into the same problems because they must separately run and handle social media outlets. I think this opportunity exists 100%. I have also experienced first-hand and see the need for business owners and influencers.

3.     So as prototypical customers, I spoke to my prior boss who is an established fitness influencer, then my friend who has started his own fitness company and last my cousin who is a social seller.

4.     Interaction 1 Reflect :

a.     My prior boss said that she feels like the software of this kind would change her business 180. It’s difficult outsourcing and having their outsourced management still feels overwhelmed through all social media handles. Her engagement is really demanding, and she personally doesn’t have the time to manage it.  

5.     Interaction 2 Reflect:

a.     In terms of my opportunity I learned that it is needed from different spectrums of the business world; those that are established, and those that are venturing into the business world through social media.

b.     However, emerging businesses have to hit a certain place of comfortability or profit in their business in order to venture out to look for social media managing.

6.     Interaction 3 Reflect:

a.     My cousin’s perspective is what surprised me the most. As an influencer and social seller, when she isn’t marketing products, she is sharing her life or sharing information. She let me know that individuals who aren’t selling, profit-focused might also want to benefit from software like this focused on content, posting and reaching a wider audience.

7.     Summarize:

a.     Much of my original opportunity is still there. The main thing that I am adding to my idea is that I shouldn’t just focus on business owners but there are also social media pages focused on awareness and providing information that has this need, just to a lesser or different extent. So through that, I would have to see how to allow clients to attain the software features for their needs. I’d have to allow customization,

b.     I think my new opportunity is similarly accurate to when I started because my idea did not change much due to the feedback I received, I more or less just had to rethink my client pool. I think entrepreneurs should adapt their opportunities up to the point of seeing that customer feedback is improving the opportunity and not personalizing the opportunity entirely. It can be very easy for customers to explain how the opportunity could be better for them personally, but entrepreneurs need to think of a general client pool that they are trying to attract.