Wednesday, March 9, 2016

Idea Napkin No. 2



          My name is Lirim and this is my story. I was born in a failing state of Yugoslavia 22 years ago and was name what in English translation from Albanian means “Liberation” as my nation was fighting peacefully to break away from the a federation they had forced to join about 100 years prior. My parents graduated from college amidst turmoil and uncertainty in mid 80s. Realizing the opportunity to provide currency exchange services given the very unstable Yugoslavian Dinar, my father took on his first entrepreneurial adventure which is was not exactly legal at the time. Ever since neither of my parents have held a paid job and regardless where the waves of life have taken them, they have seized thriving to do better and impact the society they have lived in meaningful ways, taking on a wide variety of ways to achieve just that. Growing up with them has made me no different in my dreams and aspirations. One unmet need that I have personally experienced while in college the past 4 years is the affordable textbooks. Having recently learned that the publishing companies use the same model as pharmaceuticals in developing and marketing their products, I was only further encouraged to do something to challenge the status-quo, which is making education, our most important societal duty, far too difficult for far too many people.  What I believe would the solution to this is a platform where everybody can list the books they have used and no longer need and in return get the books they need for up coming semester. Basically this will create an exchange market space for students, where the company that is organizing this exchange takes a small percentage of the transactions. I believe this platform would quickly become the name of the game because educational costs in United States are overall very high and students are always mindful to ways of cutting cost. I intend to bring together a group of individuals that are similarly passionate about what’s possible, and who have a diverse variety of skills to put in this project.


Feedback Memo


It is very humbling to be given such encouraging feedback by my fellow entrepreneurial gators.  Ben’s mentioning of the appreciation of this idea by general public is especially important to me, since I believe that our impact to the society as a whole is just as important to this venture as is the company’s profit seeking. It was also encouraging to find out that Tyler shares same frustrations with me with the way we share books currently. Yanira makes an important point that this idea has been around and it is interesting to find out why it wasn’t implemented yet; it makes me think I should do more in researching the feasibility of the idea.

4 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. Hey Lirim!

    I love that you are really concentrating on the greater good that this business concept provides. Not only does this encourage your passion for the business, but it also encourages your customer base to participate. I do have some things to point out though; there are actually many similar services to this.

    One can usually go to their local University bookstore and their bookstore can usually buy back their book if it is in well condition and doesn't require the code for an online platform. There are also multiple websites, like Amazon or Chegg or BookFinder, that provide one the services to sell their books online. I usually sell my books via Amazon at the end of every semester.

    I think what would separate your business from the likes of these is the avoidance of shipping costs, since students can meet up on campus and swap books, and that it is locally centered, meaning that one is only shopping for books in their local area or to their specific college. I think that you could provide a platform through which students could post their books and prices for free and other students could contact these sellers for a small fee so as to meet up in person and make the trade. You may want to have the platform first introduce newcomers to designate their school or local area so as to find how far they are wiling to travel to make these trades.

    Awesome post Lirim. Very thorough analysis and you have expanded upon this concept tremendously since the beginning of the semester!

    Keep on rocking!
    - Angela

    ReplyDelete
  3. Hey Lirim,

    I really enjoyed reading your post. I completely understand where you’re coming from regarding textbooks and there astronomical prices. Unfortunately that is the way the economics of it plays out. I agree with you that the status quo needs to be challenged and, in my opinion, the entire educational model needs to be altered. One step towards that goal is rental textbooks but also purchasing books that have lifetime subscriptions. These are books that provide free updates to the books when further information is released. This is perfect for e-text and classroom settings. Check out my blog if you get a chance.

    http://ryangsharpe.blogspot.com/2016/03/idea-napkin-no-2.html

    ReplyDelete
  4. Good job on your business idea! This is similar to the way that Netflix is trying now to break into the oligopoly of movie releases in theaters though. You might use them as a case study because while it is a completely different medium the issue is very similar. There are only a handful of textbook / educational materials out there. Think of Pearson, McGraw Hill, etc. They have a hold on the way in which textbooks are distributed and sold prior to the introduction of the campus bookstore. Now transpose onto AMC, Regal, etc and the movie industry and how they have direct control of what can be seen and when by viewers prior to it ending up (similarly) at Movie Trading Company.

    ReplyDelete