Badge #1: Entrepreneurship (That’s It! Competition)

Travis and I decided to submit an idea to the That’s It! The Business Idea Challenge put on by Turner Parscale LLC in conjunction with Trinity. For entry, we had to  provide a title, a brief description, target audience, a look at the competitive market, a revenue model, a marketing plan, and why we believe in it.

We basically came up with a concept, which we called nextDesign (we did, in fact, choose to use camel-case in the title because of our recent experience learning JavaScript), related to undergraduate design students and connecting them with businesses who need design work done quickly. In addition to potential monetary compensation, businesses would be able to give accolades and recommendations for exemplary designs.

Initially, we brainstormed and looked at competitors and found that our primary competitor is 99designs. 99designs provides a similar service; however, the designers on the site are not required to be undergraduate students and the primary motivation for participation is monetary compensation. The company has been criticized for essentially “extorting” designers by encouraging them to work jobs for which they might not even be paid. nextDesign would be reputation and experience based from the start and a salient feature of our concept is the rankings that the businesses are required to provide for each of the submitted designs.

Our concept was recognized as one of five finalists in the competition, and we were required to make a pitch on Monday, 4/22 to several of the board members of Turner Parscale LLC and other entrepreneurs in the San Antonio area. The experience was really useful and interesting because of the combination of the high pressure nature of a business pitch combined with a university setting. We ended up receiving a runner-up recognition and plan to follow up with Turner Parscale LLC soon.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s