Opportunity:
Trading activity and trading accounts
have doubled in the last decade. New traders entering the market because of the
Coronavirus. Rookie traders need some type of guidance in their new journey of
trading. Everyone wants to invest their money. Everyone wants to make money by
not working, but for their money to work for them.
· Trading
activity and trading account have nearly doubled, meaning that more traders,
especially novice traders are entering the market. This means more target
customers for my product.
· The trading
world is always expanding, with different ways to cope with emotion with their
trading. This product is the first of its kind and creates an opportunity for
itself to be tested by the public.
· Huge
investments firms have slashed their fees, which brings in another incentive to
trade in the markets. This creates a greater demand for products to help newbie
traders, and even experienced ones that still have trouble with their emotion.
Innovation: This product
will analyze the facial expressions of traders while they trade and give them
notifications on whether they are profitable on the trade they are currently
taking on. This product will enable traders to make logical decisions, instead
of emotional ones.
Venture Concept:
Customers, or I should say people, have
emotion. People have emotional ties with their money. It is challenging to
invest one’s money when losing it is on the line. There are no competitors when
it comes to my product because there is nothing like it in the market.
Customers will want to use my software because is easy to use and durable. All
they need to do is download the software and carry a specialize camera that can
fit easily in any backpack. Customers like to see results and whether their
investment in the product was worth spending. The packaging is also easily
accessible by purchasing the camera through amazon and downloading the software
through my website.
The distribution will only be
through my website and amazon. Customers are familiar with Amazon, so this
makes it a bit more trustworthy when purchasing it through a place that people
are familiar with. Customer support will be handled by a team of traders who
have time to meet the needs of the traders. There is not specific location for
trading. Trading can be done around the world if there is WIFI and a laptop.
This product would start small demographically with a handful of employees who
can manage the product easily. Most employees would monitor the software’s
severs, along with customer service.
The Three Minor Elements:
Frist:
My secret sauce is being one of its kind.
There’s no other product on the market that support traders that the software provides.
Second:
The next step would be to engage with
StockTwits users and advertise my product through their system. Overall,
marketing is the next step.
Third:
I want to take my venture as far as
possible in terms of users and helping traders around the world. I want
something that can make trading easier, because it is challenging. Eventually,
I would like to sell my business and create other business product in a whole variety
of markets. I want to be an entrepreneur of all sorts.
Different departments:
(Marketing, Software, and Customer
Service)
· Marketing will
be done by spreading news of the product through Stocktwits, and other social
media that traders use daily.
· Software
Engineers to manage the ins and outs of the software.
· Customer service
if the customers need help installing the product.
· Financial
advisors to help manage the funds of the business.
Competitive Advantage:
· There is no
other product out there that offers the same benefits as mine. It is the first
of its kind. My product will be able to control the market in a way that may
even influence certain decisions in the trading world.
What’s next?
· I think I need
to work on my website to create the installation that can be downloadable
through different versions of computers. I need to hire programmers that can
make this happen as well as designers for the website.
· I need to
improve my programming skills and interview many more traders to make my
software even more diverse than what it is.
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