Opportunity
Who has the need: People who are hardcore soccer fans that have a need to view games through a convenient means.
Nature of the need: Many soccer fans pay for expensive channel subscriptions watch streams that are clunky and lag.
Streaming is becoming more popular than ever before and as such is an opportunity that is well worth being jumped on. On top of this, soccer is still the most viewed sport in the world.
Geographically they don't have to be anywhere specific besides a place that has Internet connection to stream matches. Demographically there's no preset for being a fan, however the demographic for streamers is typically 15-24 and male.
Customers right now are fulfilling this need by either purchasing channel subscriptions on TV or streaming on other services such as Reddit. Loyalty to whatever they use depends on its cost.
I think this is a rather large opportunity given the size of the soccer fan population and the exponentially rising popularity of streaming in today's society.
This item will also be around for as long as soccer is still a sport and people are still a fan of it and streaming is still a relevant means of viewing content. Since this is the case I feel that it is important to jump on the idea earl before others think the same thing.
Innovation
The streaming service I am providing is different from others. It is essentially a forum that will contain a wide array of different sub-forums for each soccer match that is going on that day. Viewers will visit a forum for the game they'd like to watch and stream it from the link provided by the streamer(s) in that forum. Creating an account for the website/app is free but revenue will be made through ads that appear on the site/app. Should users decide to, they can pay monthly $7.99 to get rid of ads and gain access to better quality streams.
Venture Concept Customers would switch to my product because they want an affordable way to watch their soccer matches that is also easy to use. TV channel subscriptions are expensive to pay for and Internet streams on sites like Reddit are usually filled with malicious software and poor quality video. Since this is the case I don't think it would be too difficult to make them switch my service provides affordable easy viewing.
My competitors are TV channels that show soccer and streamers on the Internet streaming soccer matches. Weaknesses of Internet streams are that people may see them as no t worth the time as they are typically not great in quality and tend to give computers a hard time with loading and tend to have bugs. The main weakness of TV channel subscriptions is that people may think the large amount of money they need to cough up every month is not worth it.
Given that my product is not actually physical, there will be no packaging hassles to run into. The modes through which I will have my service are through a smart phone app and a website. This is exactly what defines my business concept because the very point behind it is that it is a streaming service.
I intend to hire a decent sized employment team that will be in charge of moderating the individual game forums. Profit gained from the business will go to further developing the service to be as efficient as possible.
The Three Minor ElementsMost important resource: My top resource in this venture is still going to be my knowledge and passion for the sport and more specifically my drive to make this sport a popular one in this country.
What’s next for the venture: As this service grows in size the next opportunity I'd like to tackle is converting non-fans into super-fans. I want people that don't know about the sport to be experts after using my service to watch all the games they want. Something I also may consider for the venture in the future is adding the streaming of other sports to the service such as American football, basketball and more.
What’s next for me: In 5 years I'd like to be seen as a pioneer in not only sport streaming services, but also as a pioneer for soccer advocacy in the United States. I hope that I will be an important part of the history of the sport in the country.
Feedback
The feedback I received was primarily focused on the fact that my human capital, or my extensive knowledge of the sport, was a great resource to have going into my venture. On the other hand, a critique I received was that exclusive sport streaming services are less popular and perhaps I should look into making the venture a multi-sport streaming service.
Having taken this feedback into real consideration, I decided that I would be adding more sport streams to the service as it grows over the years.
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