My loyal audience. Day 3! 10% of the way there to complete this challenge. Funnily enough, since I committed to this blog, more days have passed when I didn't write than days when I did. No matter, we'll get there. Today there is a slight twist. I have decided to add a fourth "prong." Well, this isn't a full prong. It's more like a tine. Nevertheless, it is something I want to hold myself accountable for. Details will follow.
Chinese
Today, I did not take a new lesson. Instead, I spent 15 minutes working with flashcards to solidify what I learnt yesterday. I would ideally like to do this for at least 25 minutes from now on.
Project
This is the exciting one. Today I developed a one-page simple business plan for the idea I mentioned yesterday. I wasn't really sure how to make a business plan, so I followed a template online. Sue me.
Problem:
The problem I am trying to solve is that international students do not often have a reliable source of information to answer their questions. Currently, students have to either meet with an advisor during extremely limited timeslots or try to piece together information from online sources that are impersonal and incomplete.
Solution:
The solution I am presenting is to train a language model on common international student problems. This model will learn about each student's personal situation and provide round-the-clock advice and clarification.
Key Features:
Chatbot for questions
Account creation to store data for personalized answers
(Potential) Direct line to school advisors for common requests, such as a travel signature or change of address
Business Model (Revenue Generation):
Making money with this model is challenging, but not impossible. My first thought is a B2B model, where I would charge schools bulk fees in order to license the software to students. The second option is an individual subscription model.
Target Customers:
My target customers are, of course, international students. These students often have many hoops to jump through with very minimal hand-holding. I see this model being useful before international travel or major life changes, where students would have more questions than normal.
Competitive Advantage:
I believe that this is a market that has not largely been explored. My competitive advantage would be speed to market, as well as partnerships with schools to reduce the load on advisors.
Marketing:
I plan to spread the word about this company through my alma mater, the University of Washington. The hope is that schools will eventually advertise this service to incoming students.
Learning
I did not have too much opportunity for self-betterment today. I did read about an hour's worth of game guides for Black Myth: Wukong if that counts.
Prong Found (Tine)
Ah, finally. The long-awaited new task. The reason I call it a tine is that it is more of a checklist item, per se, than an overarching goal I am working towards. Anyway, this tine is professional development. Every day, I will either reach out to/chat with someone to expand my professional network or apply to a job. Or both.
Hope today was more interesting than the last. See you tomorrow!
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