29A- Venture Concept 2

The opportunity for my venture is based on the fact that people will be using nicotine for a long time despite any imposed laws on these products. My opportunity is that the products currently on the market are not safe for consumption and my goal is the provide a truly safe alternative to smoking. The potential customers are anyone who has used these products in the past and are seeking to a product that does not put their health at risk. This includes people who have made the switch from cigarettes to electronic cigarettes as well as those who have used these products in the past quite frequently. Demographically, this opportunity is quite wide ranging. This need is being satisfied by customers currently through products such as JUUL as well as others. These customers are quite loyal, but I believe they could be won over by the approval of my product. This window of opportunity should be open for a while, but there are a few things that could close this window quicker than most would think. These include new state laws and even nation wide bans as well as other products being sold.

The innovation I provide with my product is all to do with customer satisfaction and safety. There has been far too much about the negative effects of electronic cigarettes on the human body in the recent news. It should be of every users' concern. Depending on the cost of manufacturing and actually putting this theory into reality, I would try to make my product very affordable.

Like I have said before, my one unfair advantage is over the competition would be that my product is safer to consume than others. My next step for this venture is to keep talking to people who use these products and see what they like and dislike the most about the products and take their feedback into account. In five years, I would most likely still be in the beginning phases of the company. I would be finalizing the product with my team and getting them onto shelves, hopefully. I could see myself becoming heavily invested in this company as it is something that is very important to me and people's lives are at risk.

The feedback I received from my peers was very helpful and eye-opening. It helped a lot to see how others viewed my venture concept and what I can improve on. They told me how this electronic cigarette crisis is a really big issue right now and how a product like this would be great for the market as well as people's livelihood's. I did get some criticism on the difficulty of actually being able to produce this product which I completely understand. I am willing to put in many, many hours to accomplish this goal as well as bring together a team of people who are qualified for a challenge like this and dedicated to the cause.