The opportunity I have selected is to educate young people
about the United States stock market and how to invest money safely. The
solution I am proposing is a platform either app or website that a person can
access and read up on good stocks to put money into. The website/app would
contain daily news about various companies in the market as well as opportunity
suggestions based on their financial goals (long term vs. short term). An
additional feature would include a mock stock market game that allows people to
get started with a certain amount of money and try investing it in fake stocks
(real-time price value of the original) just to get a feel for investing without
any real risks. The way I plan to generate revenue for this service is to include
a recurring monthly fee for the service. Users would pay between $5-$10 a month
to use the platform. This is not a large amount of money as the knowledge they
gain in return is much greater and can lead to larger profits in the real market.
I believe this plan will also retain customers as they would find the news
outlet useful and since they have been using the platform for a while, and have
gotten familiar with it, it would be tough to switch over to other platforms/competitors.
Tuesday, June 2, 2020
8A – Solving The Problem
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Hello Rahul,
ReplyDeleteI think the problem that beginers do not know how to invest money at first is the real thing. You propose a great idea that solve the problem easily. I really like your mock stock market game in the app since it is a good practice tool. It is hard for people only read news from companies and learn the specific knowledge or formulas. However, it is fun to play a game while learning investing. Very creative!
Hi Rahul,
ReplyDeleteI think that your $5-10 membership cost is a great idea as it is not a price that will prevent people from entering in on your idea, but it will be continuously making money as time goes on. I think creating an app would also help you separate yourself from any competition you might have especially if you include games like your mock stock market where people will be both amused and learning.
Hi Rahul,
ReplyDeleteGreat post! I think educating students and young people in the United States about investing in the stock market is a great idea. To those that are not familiar with how the stock market works, it can seem very daunting trying to figure out where to invest their money. I think a $5-$10 fee is a great, budget-friendly price for the platform.
Hi Rahul,
ReplyDeleteGreat post! I agree with you in that students should be more educated on how to properly invest their money. Most students in the business school will learn how to invest from class but I would take your post even further and advise schools to teach students how to invest in real estate. Unlike the bond and stock market, the real estate market boasts higher yields and you are actually investing your money in a tangible asset unlike the stock market.