Start up Idea or concept

Why is the idea or concept so critical for any start up

1.Should address a existing pain point2.Make consumer aware of the existing

pain point3.Show him the simplest way of doing it

there by creating a need4.Create a convenient market place or

technological solution to reduce consumer efforts

KEY REQUIREMENTS OF AN IDEA OR CONCEPT

Idea addressing a existing pain point …..

The idea will meet the competitors

early on

The idea of the product or service need should

be a differentiator

The idea should compel the consumer to be

able to identify himself with the product or

service.

MAKE HIM AWARE OF THE PAIN POINT AND CREATE A NEED FOR YOUR

PRODUCT OR SERVICE.

Create a product or service which will show him a better way to do it.

In absence of any solution consumer will believe that there is no better way to

do it.

SHOW HIM THE SIMPLEST WAY OF DOING IT AND THERE BY CREATING A

NEED

Ideate a product which would be

simple yet effective to use or avail it.

It should be easily available and

available for mass consumers.

Create a product or service which is

scalable.

CREATE A CONVENIENT MARKET PLACE OR TECHNOLOGY TO REDUCE HIS EFFORTS.

It should reduce his efforts and time and simple to source or

avail.

It should cut across

geographies to give him

flexibility of buying or

availing from his place.

It should give him access to compare,

experiment, try and decide.

PROOF OF CONCEPT. POC is the first

step to showcase the

product to outside world and should be

close to reality.

POC is the first step in the VC

world and should be able to evoke the best possible interest from the

VC world.

POC should make the

prospective investor to sit up and try to see the big

picture around it.

Conclusion : What ever the idea may be ,if it addresses the

customers needs, pain points early on with a logical Proof of Concept can be a great winner !

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