29A Venture Concept

Opportunity

The opportunity I chose is drone surveillance. Drone surveillance can be used to survey land, keep watch over farms when owners are not available, and assuring businesses that their companies are safe by monitoring the building to watch for any criminal activity. I feel that those who have the need most are business owners, farmers and police but the opportunity is not limited to only these. The nature of the need is security, due to the high number of crime rates and the large amount of land owned by most farmers the opportunity was created. I would say that customers are satisfying this need already by having security systems installed in their homes, businesses, and farms. However unlike most security systems today the drone surveillance is not limited in movement like other cameras, they are able capture an aerial view. Limited movement can hinder the solving of a crime, with drone surveillance more ground is able to be covered. I believe the opportunity is fairly big I feel people would feel more at ease and safer knowing their businesses and land are being monitored. As long as businesses keep opening up, farmers keep purchasing land and criminal activity continues I think the window of opportunity will open for a long time and may always remain open.

Innovation

My product I would consider being innovative, while there are other security systems today none are quite like drone surveying. Drone surveying is a drone used to either survey land or act as a security camera while not having to be mounted to a wall. Drone surveillance can be used to monitor large or small amounts of land and businesses; each of the drones are equipped with 4k visual cameras  meaning a clearer picture they can also aid in catching criminals and solving crime. They are also equipped with solar powered lithium ion batteries; you will not have to charge the drones so you wouldn’t have to worry about your property not being monitored 24/7. The drones work by acting like an ordinary camera that would be mounted on the side of a building but because the drones are not mounted they are able to monitor and cover more ground as opposed to a regular mounted security system. Also live video can be streamed to a smartphone or tablet for that extra sense of security, the video is sent and monitored to a small group of professionals who will also be operating the drones.  As for the money I will be making from the product, I have decided that working with my customer based on income to provide them a package that would fit into their budget. For example my customer could chose to leave out live streaming to a personal device and have the live video sent only to the professionals who are monitoring and operating which would lower the price and obviously if the customer is using this as a home security system the price would be lower than if it were used for acres and acres of land. Businesses could also save money by enrolling in a contract for a certain amount of years.

Venture Concept

I think customers would switch to my product because of the fact that my drones offer more security; in other words they would feel safer with drone surveillance and also because my drones would be equipped with solar powered lithium ion batteries they are not loud at all . I believe it would be fairly easy to get customers to switch because of the better visuals, more ground that is able to be covered and sense of security; competitors would be any other companies that provide surveillance systems. Weaknesses of another security system company would be their limited range of movement, poor quality picture and high price, for a strength I would say that those companies have been around a lot longer and people may be comfortable with using their services that they may not be ready for a change.

I believe my most important resource would be the fact that my drones are not limited in movement like most surveillance systems these days. The next opportunity I would like to tackle would be drone delivery. Assuming that I launched, in five years I could see my business expanding into more cities and maybe even into more countries and I would obviously need a larger group of trained professionals.

2. The feedback from my peers was great I had no negative comments. I did however have a few questions. In one of the comments my peer was concerned about the battery life of the drone and who would be operating the drones. Another peer questions how I would control the noise that my drone would make. I was happy to answer all and I was even happier that I could change my venture concept assignment up a little.

3. I changed my venture concept based on the questions asked by my peers I added that the drones would use solar powered lithium ion batteries something I had not mentioned in my first venture concept. I also answered my peer’s question on how I would keep noise under control again something I did not mention in my first venture concept.