Idea Napkin No. 2

Who you are: 

I am a 24 year old living in Gainesville, Florida, going to school at the University of Florida. As a senior, I study Political Science and I'm graduating this semester. My key skills are both independent and interpersonal. Independently, I think critically and enjoy breaking down problems to find the best solutions, especially when it comes to problems involving people or organizations. On an interpersonal level, some of my key skills include leadership, communication, and operations management (efficiently managing an operation or a system). Some of the experience I have that is relevant to this business idea include a few internships with companies in the area of operations that included projects of improving systems of communication and flow in a building, similar to that of a hospital (which is what the idea is centered on). I see this idea playing a role because of how I can apply what I have already learned in these internships. Additionally, this idea ties into personal experience I have had with hospitals and seeing very clearly that a better solution is needed.

What are you offering to customers:

I am offering a more centralized location for managing the flow of patients going in and out of a hospital or busy medical service building. This application will track the flow of patients in real-time, reporting the most efficient placement of patients based on condition and area of hospital that is available. This application will also increase patient satisfaction in its reporting of the wait-time for patients once they have signed in. The application will provide efficiency metrics for hospitals to better communicate the status of decisions, flow, and other matters between all staff, including desk assistants. The physicians will log in the preliminary info for the patient so the program knows how long a patient has been in a specific room. Based on this data, the program will generate a wait time based on the average time taken for each case logged by the physicians and multiply that by the number of people in the hospital area that that patient would be admitted into. 

Who are you offering it to:

The customers will be any medical service, primarily hospitals, who have a flow of patients that varies based on the condition of the patient being served. These customers all need to choose the more efficient route in where to send/place these patients when it comes to bedding, in order to process other patients more quickly (because of the danger of some conditions getting worse).  The customers all serve customers that need to be housed in a certain location for some period of time. They do not just check in and leave within the hour (typically).

Why do they care:

Hospitals or medical services will pay for this product because it saves them time and money in processing their clients/patients. This saving is better for them, because it means they can provide a better service to patients coming into the hospital/ER, which in turn helps them grow as an entity. There is a lot of time that could be wasted without a centralized location that is portable and accessible. They may use other services to track these metrics, but they are not housed in one location and used in real time to make staffing and room assignment decisions. They would be able to do this with this application and it will benefit their operation overall in the long run. They would probably pay for it by yearly subscription.

What are your core competencies:

My core competencies, related to this business idea, are a seamless user experience, an understanding of the customer and their customer (the patient), and proven results. The seamless user experience competency means that the application will not just be effective in producing what it promises it will produce, but also in how it presents the data and is intuitive when using it. This is similar the theory of Apple's success - where they offer a good product, but it is the reliability or the experience and the ease of it that most people continue in their loyalty. Secondly, the application will serve hospital management but also the patient. Because it serves the patient's needs as well (such as knowing their wait-time), the hospital will be more willing to purchase it if they know their patient experience will be improved. This app will be more in touch with that experience than others. Lastly, this app will have proven results, with metrics that are backed by better math, providing information to hospitals that they always need.


Reflect:
I believe there are some aspects that are weaker or out of joint than others. This includes my lack of knowledge in the healthcare field and how the operations of the ER room and the traditional hospital actually function. I also think my core competency of having a seamless user experience for this product is very unique, but the core competency of understanding the customer experience is something that can be easily replicated by competitors. I think hospitals do care to make their service more efficient, but would be unsure of the reliability of this type of program and may give pushback to transferring control of decision making for patients out of their hands and into that of the computer. I think the results can be the best selling point.

Changes from Feedback:
Initially, I did not include the details of how the doctors would receive and input information for the desk assistants to see or for the program to calculate and present to the patient. Based on this feedback, I added this detail to the what can I offer section of the napkin and explained briefly the flow of how the system would work. This gives more information on how it will actually function and calculate the estimated time. That was the only negative feedback I received and the only change I made. Although that counts as two. 

Growing Your Social Capital

Domain: Someone who makes apps 

Market: Someone who makes things for the medical field or is in the medical field 

Supplier: Someone who knows about what it takes to build the service you are wanting to build 

Contact 1: 

1) Who they are and what their background is: 
Software developer working in the software field 

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Domain expert

3) A description of how you found the person and contacted the person.
I found this person through a mutual connection, I contacted them via phone text

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

Just a text message through phone. No favor yet. 

5) How will including this person in your network enhance your ability to exploit an opportunity?
The person will give me insight on the feasibility of the design of the product. He will offer the technical expertise needed to know how to create the product and the likelihood of it drawing g attention in the investment world, from software engineers. 

Contact 2: Student Doctor who works with patients and physicians (my customer base) 

1) Who they are and what their background is:
A public health professional who has background epidemiology. A physician in training and aspires to work with under-served populations in areas where there is a physician shortage.

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot. 
They would be a market expert and and consider themselves very familiar with the hospital system and what it takes to function. 

3) A description of how you found the person and contacted the person.
I found this person because they share a mutual connection, I contacted them via phone.  

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

The person is willing to provide as much feedback as I need for helping develop the idea. The person/contact does not have much stake or need much stake, since she is a student doctor who is willing to share perspective to find a solution.

5) How will including this person in your network enhance your ability to exploit an opportunity?
This person/contact is a direct line to information on how healthcare offices function and how hospitals manage their systems, including the ER. She has worked in this network before and can help give inside info.

Feedback: "I think it is a problem that needs to be solved, but there are some barriers to it. This is something that definitely lacks feasibility. The time projected would change a lot given the circumstances of the ER. Automation may be a way around this. The program categorizes things as more severe based on what the user inputs it. There would also be a funding problem. But if you can get that it would be incredibly helpful for patients. When it comes to emergency medicine specifically, things evolve so fast that you cannot anticipate them well enough"

Contact 3 

1) Who they are and what their background is.
A career liaison working at the career center at UF who works with the College of Engineering and students who study software engineering 

2) Which 'slot' you are filling with each person (i.e., domain expert, market expert, supplier), and how the person fills the spot.
Supplier - person who knows about the supply 

3) A description of how you found the person and contacted the person.
I found this person through a mutual connection, I emailed them.

4) The nature of the exchange you have with the person -- what favor did they do for you? What is the return expectation? 

No favor yet, probably little return expectation given my relationship with them 

5) How will including this person in your network enhance your ability to exploit an opportunity?
This person will give me an understanding of the feasibility of the opportunity and the likelihood that software engineers would be willing to work with me. They may also give me information on how to reach these students, as well as how viable the opportunity from the engineering field perspective 

Reflect: 

This experience has opened my eyes to the value of reflecting on my network. It is also proof that anyone can serve as a valuable contact, especially if they are a professional working in an industry even related to the one that you are hoping to work in. These professionals may not provide direct insight, but might know someone who could. I will be more mindful of this at networking events. I will also try to write down the people in my network and maybe develop a network web to keep track of the people I meet and know that I can contact later. This experience is different from the ones I've had in the past because I am reaching out to specific people who can assist with a very specific project. I am not just meeting people in a large group, but contacting them directly and asking for their feedback on myself and what they can help with. 

Elevator Pitch No. 2

1) Link to Elevator Pitch No. 2: https://youtu.be/StXyRwVWY9M

2 and 3)
Reflection and what I changed: The feedback I received last time for the elevator pitch was all positive, so there were not many improvements made available to me to adjust for this one. Based on that feedback however, I ensured that I included a concise yet detailed description of the product I was promoting, since this was an aspect of the pitch that received positive views last time. I was surprised that the comments were satisfied with the amount of information and explanation I provided for the product. I thought the explanation I provided could have been more detailed.

The feedback most useful was that I gave information in the pitch that was concise yet still useful to multiple people. It is good to hear that the pitch addressed a wide range of audiences that could potentially buy the product and shows that I was able to cover the essential information that pulls investors in, while still avoiding going into unnecessary features of the product. Not only did I adjust the conciseness of the pitch, but I also made sure I referenced how this product helps potential customers compete better in their marketplace. Referencing competition draws the audience in and helps them understand the usefulness and value of the product that much more, when they consider the competitive advantage they gain from implementing it in their business (hospitals and their logistical flow management system in this case). I also emphasized how this service helps hospitals no longer have to worry, which is an appeal to their emotion and experience that is always on their mind when offer their type of service. Appealing to their emotions does much more to show them the purpose and uniqueness of this product to be used in hospitals, than appeal to logic.

Create a Customer Avatar

My Customer Avatar: 20-30 aged person who is somewhat adventurous and wants to have efficient solutions that they can track, instead of waiting and trusting that the service will come.

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Given the customer segment identified in my previous posts, the prototypical customer for the Patient Buddy application is a male (or female) 20-30 years of age. The prototypical customer is one more familiar with technology than the average person, since they will be the ones looking for a technological solution to their problems, including the problem of a wait-line at the ER room. This customer is one that would want to receive updates regarding their care as a patient admitted into the ER and will be more impatient than the average customer because of the digital age they have grown up in. While any age range can use the product solution I am proposing, the one most likely to use the product manages most of their paperwork and bills online, processes their transactions and keeps track of them online, and always prefers to complete things the fastest way, especially if it involves their cell phone. This customer is active enough to have medical problems and for hobbies is someone that is active on social media. The customer could or could not have children. If they did they would be more likely to download the app, since there is another dependent in their household that they must keep record of medically. That is one more person that would create an incentive for a parent to have an app that tracks their child's ER wait time and shows their progression through the hospital. The is also someone who may work at night or spend time up later in the day and may therefore go into the ER at the peak hours (11p-3a) and thus need the product more.


What do you have in common with the customer avatar? 
The avatar and I share the same age range as well as the same online habits. Both of us are quick to look for faster and more efficient options, especially if it can be done on our phones, since the phones are carried everywhere. The hobbies that we have are similar in that both of us check social media and carry out most of our daily activities through online applications. Additionally, there is a sense in which both of us lack a certain level of patience, or would prefer to see the progress being made in the service we are receiving (in real time). Instead of just blindly waiting to be called, I prefer having some certainty that I am approaching being seen and I can also track everything that happened to me in the hospital in one central location.


If you have anything in common with the avatar, do you think that is a coincidence? Why?
I do not think it is a coincidence that I have things in common with the avatar. The idea for this product came out of a situation I went through at the ER room and hospital earlier this semester, so it would make sense that I match the prototypical customer description. I have not only experienced the customer need before, but I am also someone who naturally fits that demographic - being between the ages of 20 and 30, and someone who potentially could have family members (or starting to have kids) that would increase my chances of using an app that can track wait time at the ER. 

What's your Secret Sauce?

1) What are five ways your human capital is unique

- First, my human capital is unique in how knowledgeable I am about human behavior and understanding human nature. My experiences working in counseling and advising settings at work, as well as being a Christian, has given me an understanding of how people make decisions and why they make decisions.
- Secondly, my skills in leadership and communication that have developed overtime are unique aspects of my capital. These skills are unique because they have been tested through various leadership opportunities and positions. They are not just vague soft skills, but skills refined by thought and research.
- Thirdly, my abilities are unique in that the social skills I do have are not just in a vacuum. But I have the ability to think in the bigger picture, not just in the details. I consider a decision in the context of history and look for patterns in how human beings have interacted in the past to develop a better prediction for the future.
- This also helps in the fourth category of emotion, where I am not tossed to and fro by the current conditions or cultural fads, but look to understand ideas and solutions that last and make a fundamental difference, not just a difference in the moment.
- Lastly, my human capital is unique in that I do not look to objectify those I am around or team members I am working with. But rather, treat each human being as someone with intrinsic value. This belief and understanding allows me to connect with people on a deeper level in work environments, which helps better determine the root cause of conflicts and problems when approaching an entrepreneural solution.

2) Five Interviews:
Interview 1: https://soundcloud.com/user-457833434/interview-1/s-BoCfY
I2:https://soundcloud.com/user-457833434/interview-2/s-jpUkG
I3: https://soundcloud.com/user-457833434/interview-3/s-i6K6w
I4: https://soundcloud.com/user-457833434/interview-4/s-3vFM6
I5: https://soundcloud.com/user-457833434/interview-5/s-4slGN


3) Reflection

My list is very similar to the information given during the interviews. It seemed that all interviewees gave feedback on my leadership and interpersonal skills, specifically my ability to counsel and listen. One of the interviewees' answers reminded me how these skills have contributed to past projects and experiences I have been successful in and explained how these would translate to an entrepreneural mindset. Some of the differences seen, such as my ability to think and compile coherent points to present on a topic (was not mentioned in interviews), I think were caused by a lack of communication with the specific people I interviewed. They themselves do not spend time around me in those settings as much and do not hear me talk to them about this skill that I have.

Figuring Out Buyer Behavior Part 2

Interview 1:
Alternative Solutions:
I would call the hospital if I did not have this solution, this product. If this application were not available as an app I could download I would resort to calling the office directly and relying on their personal judgement for the wait time. I would look up the office online through google and see if I could find the answers there.

How and Where:
I would buy online before I would go to a store that sold this application or solution. I would also allow use card for mostly everything. I would not use cash.

Post-Purchase Evaluation:
Quality and performance, or durability, how long it lasts. These are the factors I need for a purchase to be a good idea. I think a purchase was a bad idea when the product doesn't work like I thought it was going to. Also, when I find out another product or alternative could have been better after I already purchased the other.

Interview 2: Alternative Solutions:
I would call the ER and hope that someone gave me that information. I would start there, other than physically going into the building. Then I would go onto the website and see how people rated the hospital to see if it's reputable. 

How and Where:
Online and the phone. I would use cash, not credit or financing. Especially for an app like this. I am more likely to buy something in store compared to online. It depends on what I'm buying as well. I don't mind buying things online that don't need to be sized. 

Post-Purchase Evaluation:
The price is what drives my idea of what is a good purchase. I can also compare it to other things and know that it is a good deal.

Interview 3: Alternative Solutions:
I would check with the people at the desk and also look on google to see the traffic that is listed or posted the site. Aside from that, there is nothing else I would do. 

How and Where: Online and in person physically by just asking. It depends on what it is but typically I buy things in store. The vast majority of the time I use a debit card that works like cash.

Post-Purchase Evaluation:
If it has quality online reviews or consumer reviews. I weigh the pros and cons of the purchase decision to see if the pros outweigh the cons. If the product does what it claimed it would do, I would be satisfied. 

The most important aspect for me to consider buying this app would be if it did what it said it would do and was very accurate. I would pay for it if it were reliably reporting the wait times and information on my experience in the hospital. Cost effectiveness would be the other major factor. I would not pay more than $5 probably. 

Does price matter the most? Does quality? Does style? Is there more than one factor that is important to your customer segment? 

Summary: 

Those interviewed all show a desire to buy this product online, although prefer to buy certain things in store. They collectively would probably not spend over $5 for the product. It is clear that all of those interviewed would resort to calling the front desk to determine the estimated wait time or walking in personally and asking. This presents an opening for the product because it shows consumers do not have an alternative solution to either calculate ER wait time or relay this information to patients in real-time and in an efficient manner. It is also clear that all interviewed prioritize quality and price when purchasing a product, including one like this. Ensuring that the product is reliable and durable is also highly preferred. 

Conclusion:
Based on these interviews, this segment is one that seeks alternative solutions through the internet and through person to person contact. Additionally, this segment makes purchases based mostly on their own judgement of the price and quality of the product, but also on the product's reputation amongst fellow consumer. Lastly, this segment considers something a good buy if it does what they expected it would do and does it for a reliable amount of time. Consumer reviews are very important to this segment as well as the fulfillment of a noticeable need. When marketing this application, I would need to prioritize specific and clear messaging to remind consumers of their experience without the product, increasing their awareness of the product's usefulness in their eyes.