2. I am offering customers a music streaming service with an extremely wide variety of songs. They will no longer be faced with the problem of songs being unavailable.
3. My customer base will be people who are avid music listeners. It will be a variety of demographics. Mainly millennials that are caught up with new apps and technology. I will try to extend it to as many locations as possible as popularity grows.
4. Customer will pay for my service because it will provide them with easy access to the music that they love. It will offer the same features as all of its competitors but will make sure to have almost all songs available. If a customer notices that there is not a song that they are trying to save to their library then there will be an option to report that the song is not available and we will take measures to add it.
5. There are many music streaming services but what sets mine apart is that is will focus on having the widest variety of songs.
I believe many parts of the idea fit together but there are definitely gaps in the plan. Combining existing platforms and offering commision is a good way to gain access to a wide variety of songs. It will be difficult to gain the rights of some songs that have more constricting contacts.
In my previous post, people shared very constructive feedback. One point was that this topic is something that I am passionate about and I should continue to pursue something I enjoy to make a living out of it. He also mentioned that this idea has the potential to be very successful in the music industry. That feedback drove me to continue generating new ideas to make this idea come to fruition.
Hey Bram,
ReplyDeleteIt was nice reading that you already know and accept that there are gaps in your plan to exploit your opportunity. That being said, an app that offers commission to customers who find songs not included within the app is very interesting. Most of the time, apps push customers to make in-app purchases to build your avatar, increase weapon damage, etc. With your app, customers will likely challenge themselves to discover songs that are not included -- so basically, your customers are doing a good amount of research for you, at a much cheaper price. The two major vulnerabilities I see is the ability for con artists to create fake songs for money and the amount of time it takes to find that "x" song (may force customers to leave the app if the wait is too long).
Dear Bram,
ReplyDeleteAs I have commented before on your assignments - I relate to a lot of your characteristics. I am a social person as well and I love bing around people. Therefore, I think we have a little plus in the business and entrepreneurship felids. You have great potential for a product here. Often I find myself on spotify and soundcloud trying to find songs on one streaming platform and others on another one. Honestly, it is very annoying. I am excited to see your future posts Bram!
Hi Bram,
ReplyDeleteI think it is really cool how passionate you are about your business idea. For me at least, even though I care about the idea I am working on, business and entrepreneurship do not interest me and as such I cannot see myself ever starting a business of my own. I like the idea of adding an option to report a song as not available and adding it in the future. This is not a feature I have ever heard of on any other platform, and I think it would go a long way in connecting people to the music they love. Perhaps you could also have an artist version of the app, in which artists could upload their own songs and communicate with fans in a social media type setting. Such features would increase the connections that fans have to their favorite musicians as well, which could make for a lot of good press and sales of your product considering that no other streaming service has really done anything similar.
Hi, there! It’s important that you acknowledged some of the issues you may face in your plan to create a music streaming service as you can now focus your energy on trying to resolve them. I was wondering if you had brainstormed any possible solutions to these issues or if they are better suited for someone that would be on your future team? If you haven’t thought of any ideas yet, maybe making a point to hire someone that can offer a fix could be a good strategy.
ReplyDelete