Assignment 11A- Idea Napkin No. 1

You:

-          Hi! My name is Shivani Dave and I’m a junior at the University of Florida. I am currently trying to pursue a dual degree in biology and business, with the hope of one day becoming a doctor and starting my own company. Because of my future aspirations, I’ve had experience in market research, volunteering at different hospitals and shadowing people in diverse fields like health care administration and IT. From my experiences, I’ve learned that an integral part of any successful business is customer trust and loyalty. If consumers feel as though their private information is at risk with a particular company, they are likely to look elsewhere. When it comes to the medical field, cyber security is of upmost importance. Patient records and data are constantly trying to be accessed and hacked in today’s increasingly cyber world. I want to start a business in which the sole purpose is protecting consumer data. Developing antivirus programs and various checkpoints that doctors, health care officials, or corporate leaders must go through in order to access data, will help mitigate the issue of hacking. With more implemented precautions, thieves will have to go through more hurdles and need to have more information to access records. If I were to start this business, I believe it would play a very positive role in my life because I would be helping millions of people around the world at risk of having their private information being hacked.

What are you offering to customers?

-          I’m offering a comprehensive security system that increases the number of checkpoints and antivirus programs to prevent hacks of online data. Many times companies and administration will have certain checks set up before consumer information can be accessed, however these checkpoints are often generic and accessible. For example, in many cases a simple birthday and password are needed to access someone’s file. This enables anyone with a little stalking ability to gain access to valuable information. Installing a system in which specific, diverse information is required before data can be accessed, and is also heavily fortified with antivirus firewall can better secure consumer data. If consumers feel safer with a particular business, odds are they are likely to work with the business again. Not only does this build the reputation of the business, but it means a higher return of revenue.

Who are you offering it to?

-          I am offering this service to health departments, hospitals, corporations and small businesses. While individuals have a risk of being hacked, big companies are even more at risk. In fact, large administrations are often targeted by companies with the sole intent of stealing consumer data. With the advent of social media, this threat is even more real. As businesses try to build their brand, they promote on social media. While this serves as a great form of advertisement, it also entices hackers. Small businesses that are just starting up are of particular risk because they don’t have an IT department, or system in place to combat cyber-attacks. By offering a security system that thoroughly works to protect consumer information, consumers will feel safer interacting with small businesses that don’t have the right measures in place for cyber-security.

Why do they care?

-          I believe businesses and hospitals around the world will incorporate a better cyber-security system in the future. This is because the threat of leaks and hacks, often derails customers from purchasing from, or interacting with particular companies. If a large company like Facebook is known to being prone to hacking, people will be less likely to share or interact on the site. Therefore, in order to grow their brand and build consumer trust, Facebook will be looking to purchase a system that enhances security. Online banking is another sector that is constantly looking for new ways to enhance cyber-security. People are more likely to work with a bank that has had little, to no problems, with leaks and subsequent fraud. As banking becomes online, people are increasingly trying to access card numbers and private information with the hopes of committing fraud or selling this data to a company. This problem is compounded by the fact that Google often saves card numbers, addresses and other private information. The problem with this automatic saving is that all your private information is saved in one place, making it more susceptible to hacking.

What are your core competencies?

-          I think what sets me apart from everyone else is the fact that I’m not attached to any affiliation and am offering both firewall/anti-virus and checkpoint safety. Many times companies like Norton will offer anti-virus protection, but not provide a checkpoint system for companies. Offering both will mean that businesses will have to spend less and give out consumer data to fewer places. A checkpoint system will enable companies to protect consumer data because more specific information will be needed before a file can be accessed. The fact that I’m not affiliated with any 3^rd party means that I have no vested interest in helping one business over another, or any other prejudice. This means that I will be working to keep consumer information safe for all my clients, regardless of their affiliations.

While I believe I have a good business concept, especially in a time when everyone is trying to enhance their cyber-security, I definitely think I need improvement on how I will actually accomplish this. In order to develop a system that incorporates anti-virus/firewall protection with checkpoints, I will need to hire some of the best in the cyber-security world. In order to afford this I will need to gain investments from private investors. If I am able to successfully convince businesses that this needs to be done and get loans, I may be able to develop a cyber-security system that can help consumers all over the world. Another aspect that I need to work on is understanding how to beat competitors. I need to convey to consumers/businesses that my product offers more comprehensive protection than competitors.