Venture Concept No. 1


1)      Opportunity-
The opportunity I have identified was the effects of global warming, which resulted excess flooding in the Midwest region. The current levy system in place has shown minimally acceptable tolerances and require upgrades after large storms, extreme weather (hot or cool weather), along with wind and snow. The identified customers would be the local and state governments along with the Army Corps of Engineers who handle the levy system now. This opportunity focuses on the government sector in the Midwest states, specifically around the Missouri River. It will also directly affect those that live in the area as well. Currently, communities will prepare for large storms by packing sand bags and moving the seed planting times to after the “wet season.” The Army Corps of Engineers currently completes manual inspections along the levies and systematically renovate the levies. This is an opportunity to help many farms and in turn many communities by helping to keep jobs and money within those communities instead of losing the farm business by outsourcing overseas or Mexico (to locations who don’t have the same flooding issues). This opportunity will be available as long as flooding is an issue in the Midwest or until another solution is put into place.
2)      Innovation-
This product is a levy monitoring system designed to monitor levies along the Missouri River, currently a hot spot for heavy flooding which affects many farmers and their communities in the area. This monitoring system will be responsible for front line detection for weak points (minimal tolerance levels) in concreate made up of the levies. Sensors will be placed sporadically along points of tension on the levies. They will also be placed randomly in between to determine when maintenance is required. After storms or extreme weather, engineers can trigger the sensors to evaluate the damage to the levies. At which point, workers will know the areas to focus on first before moving onto other parts of the levies. Our company would be responsible for training and maintenance of the system as well as upgrades. This would require contracts with all those involved: the Army Corps of Engineers, Local, & State Governments.
3)      Venture Concept-

My company’s focus on this particular issue will be the reason why they will decide to select our company. The Army Corps of Engineers have multiple ongoing projects and do not have time or resources to update and maintain the levies in the necessary capacity (above minimum standards). I believe if we provided this system to them, they would want to try it. I was unable to find other companies who are offering the same goods and services. Customer support and experience will be the biggest rolls in our business concept. The monitoring system is only one part of the equation. After installation, customer training and system updates will set us apart as a company. The business would be organized into 3 different departments: Product development, customer training, & maintenance. The number of employees will depend on how large the levy system is for now about 100 (30, 30, and 40 respectively). Product development will be responsible for engineering and software updates, customer training will provide trainings and manuals for those who need them, and maintenance will be responsible for any manual inspections or fixes along the levies.

4)      Most Important resource-
My most important resource would be wanting to fill the need to help farmers and their communities. Wanting to help others will be the mission of our company. Since this is an important issue that isn’t going away, our company will be known for putting people first.
5)      The next step-
The next step would be to expand to other levy systems to eventually monitor other types of structures such as bridges, dams, and other structures.
6)      In five years-
In five years, I would like to have this project completed and be working on expanding the business to bridges and dams. I don’t think I will continue another ventures but start working in the consulting field.

Comments

  1. Grace UbbenApril 10, 2020 at 8:11 AM

    Hi Orlantha,
    I think it's amazing that your mission with this business venture is to help farmers and their communities. I feel like it's so easy as an entrepreneur to just want to make loads of money, but ultimately the first goal should be to help people and solve their problem. I think making that the backbone of your company will definitely prove to be beneficial to your success.

    ReplyDelete

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