Ideation

10 October 2021

Agenda: Getting Mr Roderick's opinions

We met up with Mr Rodrick and pitched 2 ideas to him.

Our first idea is the social media marketing company. We would aim to help small business owners to market their product and earn commission from the sales garnered. However, Mr Rodrick pointed out many flaws in the idea stating that it was an uphill task to complete as we as a startup have no portfolio thus no credibility. Hence, we also suggested going to our friends for our first few sales though Mr Rodrick also have reservations against it. Furthermore, he stated that sales of the product is also dependent on the product itself and not mainly by the social media marketing skills and thus choosing the right product is important as well. With none of us having experience with social media marketing, this would be very difficult idea to execute.

Our second idea is selling DIY terrarium kit to help promote mental wellness. This idea was much more preferred by Mr Rodrick as he is a plant lover himself, he is more welcoming to this idea. He stated the potential pitfalls that we may face such as the current supply crunch which would force us to purchase our stocks very early in order to meet the deadline. As well as logistics challenges that we may face. He also stated positive points such as there is many gift giving holidays coming up such as Christmas, New Year etc., which would be a great opportunity to increase our sales.

After discussion, we decided to go ahead with the Terrarium idea and delegated tasks for the upcoming business plan submission.