Tuesday, 9 July 2013

My New Dissertation Idea aka Business Idea

Hi guys, in my previous post I mentioned that I've changed my dissertation topic to my own business idea. Why? What was wrong with the startup? Nothing really, I just had a eureka moment. However, it's not entirely original, it's a clone of another business but with different features.

Before changing it, I of course spoke to the head of department, Dave and my supervisor, Itxaso. Dave said its not too late but I probably won't be able to do lots of interviews. Itxaso loved my idea! That was a relief. Lol She told me not to waste my time on the startup and should do my own idea and carry on pursuing it after uni is over. I will as I've always wanted my own business.

You often hear people say turn your passion into a business. So based on my passion on healthy/well being and food I came up with an idea. It's a clone of Nutribox, Graze, Glossy box, Birch box and other product subscriptions business model. I haven't come up with a proper name yet, but our initial idea was 'Good Munch' but for the sake of SEO, my mentor Jack suggested the name should contain at least one key word that will inform people what the business is about in 3 seconds and appear in the top of the list in search engine. Anyway, I'll refer it to Good Munch in my blog posts for now.

So what exactly is it? I won't go into detail yet, hehe. You will know soon.

It's been about 2 weeks since I've changed the topic and so far I've sent out surveys, drawn canvases for Good Munch and the competitors and written out the initial hypotheses. A couple of people have said my survey is a bit too long, I cut some questions out. The reason it's long is because I'm doing it the short cut way, don't have the time to do face to face interviews. So I'm trying to get as much as I can from the surveys.

To encourage people to do the survey, I decided to give out 2 £20 amazon gift voucher. I will pick 2 winners at random on 22nd July. One of the voucher was given to me when I volunteered for TEDxUCL, lol. That's one voucher sorted lol. And guess what? I'm such a donut.  I forgot to add a field box for people to enter their email address or even a name for them to be entered for the prize draw. LOL. So I sent a message out on my Facebook telling them to give me their email address. But I've added it now. Here's one of the gift voucher.

The more research I do the more competition I find lol. But they aren't exactly the same though. I've found out that there a lot of healthy food online subscription businesses. All aim to provide convenience, save money and time. I found most of them through some of my favourite fitness blogs. As well as finding my competitors, I also learnt that each blogger is a channel to bring customers to the business. 

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