Assignment 4A- Forming an Opportunity Belief

1.     I think that an opportunity exists in the cosmetic field providing high quality services such as nails, hair, and lashes.

2.     I have noticed that this need has always existed because there has always been a need and want for lash and nail technicians and hair stylists. I think that almost every woman has the need because majority of women use if not all at least one of the services described. Although this is a hard field to stand out in, I think the best way to do that is be unique and do things that other stylists aren’t doing.

3.     My prototypical customer would be pretty much any woman but I think I would see the most interaction with woman ages 18 to about 35 who regularly get their hair, nails or lashes done.

4.     Iteration No. 1

            I spoke to Alicia, a 22-year-old woman who said she does get her hair and nails done on a regular basis. And I asked her when she became aware of this need she responded that although this was a need she had when she was younger it wasn’t until she got into her twenties that it became a consistent need. Before then it was something she did occasionally but after becoming an adult and getting a job it became something she needed every 2-3 weeks. I then asked her what she looked for in someone looking to open a business that address this need and she explained that she liked a professional but fun environment that was up to date on current styles and trends. When I asked her about pricing she said that for her she doesn’t care about the pricing, if its quality work that last she’s willing to pay whatever.

            Iteration No.2

                        I spoke to Jocelynn a 32-year-old woman who consistently gets her nails done about every 3-4 weeks. I started by asking her how long she’s been getting her nails done and she said she first started back in high school and been getting them done  ever since. When I asked her where she normally goes to fulfill this need she said that she  usually just goes to whatever salon is able to take her that day. I then asked her if she would prefer having one consistent nail tech who is familiar with her style and the designs she liked as opposed to going to a different person every time she needs her nails done. She responded that she would rather one consistent person but because of availability that is hard. I then asked her what she was willing to pay for this needs and she responded that she normally pays $35 for her nails but if an extra $10 meant quality work and one consistent person she would be willing to pay the extra money.

            Iteration No. 3

                        The last person I interviews was Courtney a 21-year-old college student. I asked her to tell me when she became aware of this need I described to her and how often she fulfills it. She explained that she normally gets her nails and lashes done about every three weeks. She also said she started getting her nails done back in high school but it wasn’t until college that she began doing her lashes too. I then asked her if she’s satisfied with who provides her with these services now and she said its ok but would be better if her nail tech had more knowledge on the trending styles. She also mentioned that she prefers to go to one person consistently rather than have various different people do her nails and lashes. I asked what is more important to her quality or pricing and she said both but if a higher price means a better quality of work she’s ok with that.

5.     Reflect-

                        After speaking with these three women I learned that this is a need that they    have had for years and will continue to have for many years. And other than building a   large clientele one of the hardest things about this opportunity is standing out. This. opportunity is already flooded with people so finding a way to offer services in a way   that makes them want to be a consistent customer with just you is very difficult but I think I have some ideas on how to accomplish it. Although this may seem small I think building a relationship with the people that my opportunity caters to is a very important aspect because this type of need is one that people want to satisfy for years not just once. So getting to know your customers and the things they like could help you stand out. Also two of the women mentioned that they wish their technicians had more knowledge on the trending styles which is also very important in this industry as well as creating your own style for your clients. Another common theme that was mentioned was quality. Above all these women were looking for quality work that shows that the entrepreneur really cares about their craft.

6.     Summarize-

            I think there is still a good chance that my opportunity could work but half the battle will be standing out so I could build a clientele. Speaking with these women did help to make my opportunity more accurate so I could focus on the areas that they mentioned and use those to attract other women who have similar needs. Because customers play such a large role and are ultimately the driving force for a business I think it’s very important for entrepreneurs to take their feedback into account. That doesn’t mean completely changing a company but making small changes to cater to your customers can make a big difference in the long run an even increase their loyalty. Customers give feedback not to be annoying but with hope that you’ll take their comments into consideration so that you can better your business.