Assignment 29A- Venture Concept No. 2

Assignment 29A- Venture Concept No. 2

As the world becomes increasingly online, with the outbreak of the corona virus, I think people now more than ever are in the market for a cybersecurity system that would provide effective protection. Banking, shopping an even school is now done online. Protecting sensitive information and private data is significantly more important in today’s day and age, just because the amount of information we put on the internet now. Although there are measures people can take, like sharing less on social media, it is inevitable that Google and other websites will save your personal information. Making sure there is a system in place to prevent this information from getting into the wrong hands could help millions of people around the world. I will use close social connections in the IT and cybersecurity field to develop a cybersecurity system that has multiple checkpoints before it can be accessed, as well as having firewall/antivirus protection. Firewall/antivirus protection will prevent hackers from getting access to people’s private data, or potentially infecting your computer so that all your data is stolen. Having multiple and specific checkpoints will mean that potential invaders will need more than just a simple password or birthday to access the system. I think the window of opportunity for this business will only expand because everything is moving online, however I think now is hot time. This is because with the coronavirus outbreak, people now more than ever are spending the majority of their time online, thereby increasing their risk if they don’t have adequate protection.

My product would initially be sold for less than typical cybersecurity systems that cost thousands of dollars. I would be willing to sell it for around $700 and have a discounted cost of $500 for students and those in low-income markets. This will allow me to tap into markets that also want to protect their online security, but don’t necessarily have the funds to afford a cybersecurity program. These markets can help grow my business and bring in more revenue for the future. Customers will be more inclined to purchase my product because it will offer effective protection at nearly half the cost as most cybersecurity systems. My most important resource in making this venture a reality will be the close family connections I have in the cybersecurity and IT field. Not only can they help develop my product and make adjustments as technology improves, but they also have access to thousands of computers and systems that can be used to test the product before it hits the market. The next step in my venture will be to develop the product and test it on these computers and large systems to make sure it is effective.

The feedback that I got from my previous venture concept was very important because I learned I needed to get more specific for my next venture concept. Therefore, I tried to incorporate specific elements of my venture concept, like exactly how much it would cost, how it would work and why it would be appealing to customers compared to other similar products. While, I highlighted the benefits of having an effective cybersecurity system in my last venture concept, I didn’t get into details as to how I would go about in achieving this. So, in this venture concept, I made sure to address the social connections I look forward to using in order to develop and test this product. By incorporating how the firewall/antivirus system with multiple checkpoints may help providing effective security, I hope I provided a better picture for what I hope to accomplish.