24A – Venture Concept No. 1

My idea of a digital disc jockey environment includes a website, in person meetings, and digital meetings and sessions. The idea will target a group of customers who are in college and are looking to get into Disc Jockeying, have a passion for music, are attempting to improve their disc jockeying skills, or, who are looking to spread their current knowledge with those, less experienced.

            The most common need seems to be surfacing from those that have been DJing and don’t seem to be satisfied with their current progress. It also includes those who have been looking to get into it but can not afford fancy websites such as DJcoursesonline and other expensive websites. Furthermore, those that have a passion for music and are looking to meet others that share similar passion for it to connect with and talk about music. My idea’s market will, for the most part, be targeting college towns, such as the one I am currently living at, Gainesville and will be supporting universities such as the University of Florida, Florida State University, and University of Central Florida. Geographically, the plan is to start in Florida and to expand in other states as the business expands. My goal is for my website to reach an international scale after some time. My customers are not satisfied at the moment and are meeting their dissatisfaction with procrastination and expensive websites, which I have also used, and which were not helpful enough to help me achieve my goals and follow my passion. Thus, I believe this is a really big opportunity due to the existent need and the “window of opportunity” cannot be predicted in terms of how long it will stay open. I think that the safest measure for me to take would be to start my business as soon as possible as time is critical at times like this.

            I am selling services through a digital website which will be coordinating 3 different aspects of the business. The website aspect, the digital communications aspect, and the “in-person,” aspect. Through my innovation, I will be selling services which include meetings, group disc jockey sessions, opportunities, knowledge, and other services to my customers. The website will work with a low membership fee and is designed in a way that allows for all the customers to play a role in supporting it. Older DJs will get the opportunity to spread their knowledge while younger DJs will get the opportunity to learn from the more experienced. I will be coordinating all the pieces of the “puzzle” that will be my business idea and will be making sure everything is running smoothly. The cost of the membership will be $3 billed monthly. This is way cheaper than DJcoursesonline which currently charges its customers $19 per month.

            I believe my customers will want my product is because it is cheap, it allows for a lot of opportunities and helpful connections, and it provides them with satisfaction to their previously unmet needs. I believe I have competitors but there aren’t many that meet my services in price, familiarity, and customer satisfaction. By familiarity, I refer to the fact that my services would function a lot more as a family than a big corporation, such as DJcoursesonline and I believe this would be very important to my customers as they would get to no one another and actually meet in person and through digital meetings. Location would, for the most part, be digital, but we would also have many designated locations for meetings for the customers to get together. In terms of organizing a staff, my team would be compromised of college students who are as passionate as I am on this project and would include some digital technicians, some researchers, and coordinators. They would also include some very experienced DJs who would enjoy setting up meetings and helping with different aspects of the business.

I believe the most important resources to my venture, will be my personal experience, the investors, and the research team. I believe these 3 key aspects will help boost my idea to new lengths. These 3 resources include finance, experience, and market research, which I believe are 3 keys aspects to boost a business. I believe my “secret sauce,” in terms of my product, will be the experienced DJ group I have a assembled. Not only will they provide my business with a load of years of experience disc jockeying, but they will also provide me with a plethora of connections. My goal is to satisfy my customers on a national, and maybe someday, international scale. I want kids that are less fortunate and do not have the financing to succumb to expensive DJing corporations which will not provide them with the right support they need. In 5 years I would like to be covering all of Florida and in 10 years I want to my business to be intertwined on a national scale.