29A- Venture Concept-Opioids
Opportunity-
The opportunity of drug overdose and the use of opioids in
the United States. This movement started in the 1990’s wanted to make the
switch from the generic pain relievers to a harder narcotic which today is
known as opioids. In 2017 the community saw a huge increase again in drug
leading to 47,000 people die that year accounted for. We are now in 2019 and
there is a huge neglect for people in this area. I feel the there is a need for
this for everyone, single men/women, pregnant women, older population along
with the younger generation.
1.
The need- the potential customers like I said
above are listed. They are also not in the typical geographical areas yes in
higher dense cites opioids are more frequently used but it is becoming more
popular in the west. Along with the person the access for the person should just
be as easy as going to the regular pharmacy.
2.
The nature- Since this has been around and also
in their bloodstream these particular people are addicted to this product and
need a subsitude or a different mixed product to set the chemical balances of
the human body back to homeostasis. If this is not achieved this when the side
effects come or death.
3.
The forces that can change the opportunity- the
drug/ cartel business. These businesses do not have much intel on the web of their
business; however, they have customers that are potentially going to be
competing with me (legal) and them (not Legal). How the opportunity can also be
created liked is creating placebo affects in testing trials. I know this is a
trial and error which will take time, but I know this method will work. I would
also take the approach of going to rehabilitation centers and pitching the item
to the people and recommending them to make the switch. Not to be in an
unethical way but, they are helping us and if it doesn’t work, they end up in the
rehabilitation center.
4.
Geographically/demographically- The mean age of
overdose is 39.8 for men ad for women it is 43.5. The District of Columbia has
the fastest rate of increase of mortality since 2013. Connecticut, Illinois, Indiana, Massachusetts,
Maryland, Maine, New Hampshire, Florida, Pennsylvania and Washington D.C. have
all double in mortality. There is also some connection to poverty in this
research.
5.
How are they satisfy? They are satisfied now by
going to the drug dealer or the pharmacy to get the opioids they are addicted
too to receive a refill. They are extremely loyal because it is an addiction,
they will have the shakes and have different side effects making them feel ill
so sub consciously they think they need it.
6.
How big is the opportunity- The opportunity for
this is huge. People are is desperate need and help. Also, some people do not
want to take the drug anymore so that is even more growth along with will
power. It will go hand and hand with the insurance, chemical, and pharmaceutical
companies.
7.
How long is the window- I think I have about
five to seven year to really nail this idea and make it to what it should be
like. Just because people are focusing on marijuana and not looking at the
bigger picture that started all of this mess in the first place.
Innovation-
Product- what I will be selling is
an herbal supplement that contains some key elements that make the person feel
the euphoria affect but not have any side effects on the liver, brain, and
digestive system. Along with this product I would like the cost of each pill to
roughly be obtainable for the lower income people that are in financial reach
of health insurance because this population is the highest users. I would like
to set the cost of each pill 150 following the protocol of the GoodRX card that
recently was created to lower the cost and Government Insurances.
Service- What I am offering is not
on the market. How it works is simple once the FDA and other regulations pass
the trials for the testing and it is clear to start production; I would get in
contact with the big pharms to sign off on deals to start distributing the pills.
Once they are disbursed and the company relied heavily on its values, I would
open up rehabilitation centers for overcoming drug addicts to work in the
facilities to support for their family or start a new life.
Venture Concept- You may
ask yourself how did she come up with this innovation or idea? Everything I’ve
done is with passion if not it is not point. The change I am setting forth in
this market is not just for today, not tomorrow, or not even ten year, its
literally a lifetime. The customer will always come back, just how they are
addicted to opioids, they will need a replacement. There are numerous studies
that people can’t break habits, well I am trying to enhance it in a healthy
dynamic.
Why makes the switch? - The market
is shifting and so are the insurance companies along with the affirmations with
the business they work for. Why do you think this is important? It is very crucial.
Some of the patients/ customers have been using these drugs for over twenty
years that’s why I am not telling them to stop but just make some changes.
People do not like a 360 change but gradually they will, and I think this the
gateway for the big switch.
How hard will it be to switch- it will
be extremely hard to switch just because of the addiction and prior knowledge
of the “what if”.
Competitors- there are none that I
know of that are on the market
Packaging- how I would create the
pill is just like a typical opioid so they can get the same feeling, taste,
texture.
Ideal business structure- I would
continue my research in the direction of “free opioids” in the meantime
discover alternatives. On my team I would like to start off with eight people
all doing different roles and from there expand. My role in the venture in the
Public Resources/Founder.
2. The feedback I got back was positive
one of the comments didn’t realize that drug cartels are a huge influence on
this business that is also linked the immigration. I think what I got back was
great and knowing that I can potentially have a longer time of window of opportunity
is a great thing o hear as well.
3. what I changed would be the position
of approaching the pharmaceutical companies, possibly already having people on
my team working with them and letting do a pitch that way.
