MGT-3501 Business Ideas

Propose five new business opportunities and submit a short description of each of them. The ideation process should be done individually. Thus, if a group has five members, there will be a total of 25 ideas submitted by the group. You do not need to share your ideas with your group before submitting them.

The description of each business opportunity should contain (feel free to change the order if it helps describe your idea):

  • A title of the business opportunity. Example: Stanplus: A medical transportation platform in India

  • A brief and to-the-point overview of the business and the problem you are solving. It might be helpful to do a root-cause analysis to make sure you are addressing the “right” problem (no need to show the root-cause analysis. Example: The business is “Uber for ambulances”. Namely, a platform that aggregates and coordinates the ambulances of various medical transportation companies and hospitals in India. This business model addresses the ambulance long-wait times in India due to limited ambulance availability and lack of coordination.

  • A demand-side argument of why this business could be a good idea. Example: There is no 911-type service in India. Medical transportation is provided by a disjoint set of providers, each with its own number and prices. As a result, ambulance wait-times in major Indian cities are measured in hours.

  • A supply-side argument of why the demand can be fulfilled by the business. Example: The development of a platform app or call-center to match patients to ambulances is relatively simple and does not require a major upfront investment.

  • Some hint of a “secret sauce”, i.e., why you think this could be a great opportunity for your team and others have not pursued this before. Example: Existing Indian medical transportation providers are too busy competing and managing their assets to coordinate dispatch. Hence, there is a market gap. Smartphones and 3G connectivity (essential for this business model) only recently became widespread in India. I have connections with a few Indian hospitals due to an internship that can help launch this business. Technology development will be easy because we are at Georgia Tech.

  • What tools from class this idea leverages. Example: Stanplus uses pooling, intermediation, focus, resequencing, etc.

The example above is adapted from a previous iteration of the course. The proposed business model went on to become a real business.

When ideating, do not self-censure. You do not care about the quality of your average idea – only about your best idea.

When choosing opportunities, the easiest demand to target is your fellow students or other college-aged people. This is the demand that you know best and have the most access to.

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