Opportunity:
The need for my product resides mainly with sports athletes and sports agents trying to increase their brand and business respectively. Athletes are trying to go pro and acquire fair representation and agents are trying to increase revenue by obtaining more business. The need is so crucial due to the expanding sports industry. As there are more and more viewers tuning in to watch athletes perform and the industry continues to increase in wealth, agents are vital to athletes so they can successfully be compensated for their performances. This market is defined by athletes between the ages of 18 and 22 and agents of all ages who are hungry for more business and challenges to take on. There are agents and athletes need all over the globe, but they are more prevalent in larger sports towns in America such as New York, California, Texas, and Florida. Customers are currently satisfying this need by communicating through social media rather than having a better way that helps streamline the industry. I don't think agents and athletes to loyal at all to the method they are currently using, it is just the best as of now. This is a million dollar industry, that if it hits, can truly change the way that agents and athletes interact in the future. This window of opportunity most likely won't stay open that long, as someone will figure out an even better way than social media and try to make that a successful product.
Innovation:
My product is a website that allows for constant communication between sports agents and athletes trying to become household names. It is a platform that streamlines the current industry by allowing agents and athletes to post contact information, stats and highlights on a website with a search platform. This makes communication and research much easier for both parties and allows for more specified research in comparison to the current method. I am going to profit from this product. in two different ways. First, agents will have to create membership accounts to be able to post information about their company and using the search center to collectivize information regarding the best players in the area. This will either be a monthly or annual account and will be priced based on the success of the company and the number of available athletes registered. Secondly, I will allow for advertisements from different sports sponsors and companies who will want to market their products. This can include companies such as Gatorade, Powerade, Nike, and Under Armour.
Venture Concept:
My innovation will help solve the problem that most agencies currently have. They are unable to successfully track down tons of athletes and recruit them. On the flip side, it will also solve the problem many athletes also have of finding agents to represent them. I think both parties would switch to this platform if they knew it is going to be successful and have plenty of agents and athletes. It will be incredibly difficult getting the first set of individuals and companies to switch over, but after that, it will be a chain reaction. The competitors are other websites and social media accounts that are trying to solve this same issue. Everybody is trying to find the best way to connect agents and athletes, but not a lot of people are currently thinking about centralizing the industry into one website. Customer experiences play the largest role out of pricing points, packaging, distributing and customer support because the experiences that agents and athletes have on the website will truly test whether or not this product will be successful in the long run. Due to it being an online platform, location won't play a role at all in this. I would organize a business to go along with this idea by creating my own agency. Due to this platform benefitting agents, I would easily be able to set up my own company and interact with athletes as if I didn't even create the website in the first place. I would need around 5-6 employees and I would be a partner and actual sports agent.
Most important resource: The most important resource would be the connections I have. This will help start up the product because I will utilize these connections to successfully market to agents and athletes and get them to register.
Next Opportunity: The next opportunity could be then creating my own agency and having them register on the website I have built. Having this product will seriously impact the validity of my agency.
What's next: I see myself constantly interacting with sports agencies and athletes to spread the word of the website, as well as consistently interacting with companies that want to advertise on the website. I want to own my own business in the next decade, and this product will provide myself with incredible experiences that will help reach this goal.
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