Who are you creating the solution for and how will you reach them?

Published: 04th August 2016 03:56 AM  |   Last Updated: 04th August 2016 04:34 AM   |  A+A-

Who are

BENGALURU: One of the important questions that many people ask is - When you have a compelling idea that is sufficiently curated, should you opt going full-time into the ‘startup mode’?

Answering this question is never easy. It gets more difficult for the founders who are enthusiastic about the idea and find it very difficult to be objective. It gets hard to disassociate emotionally with the elements of the idea to be able to objectively prioritise or even maybe drop it.

We AreA.jpg 

Some important considerations on when a startup is ready to take the plunge:


Market opportunity vetted


A major part of the idea curation is to ensure there is a clear and unserved whitespace in the present market and your startup has a good way of solving and addressing this problem and reaching out to the market.


Clear target of customers


This is a significantly weak area for most early-stage startups. You need to consciously understand the target customer segments. Categorise clearly the specific segment, need, use-case and problem definition.


Market acquisition approach


For each target segment, you need to have a clear plan on how the acquisition will happen. Where the targets are, how to get to them, what are the various channels available, where the influence is, how to get the audience and then how to convince. And this may vary from one target segment to another.


Near-term plans


This is one of the most difficult aspects. Need a clear plan for the first customer, the tenth customer, and the hundredth. And beyond. Very specific. Very credible.


Advisors to validate your thinking


A key enabler here is ensuring good advisors as sounding boards. Advisors who are analytical and have a good sense of business in general and better if aware of your domain as well. Identify gaps and weaknesses in the process.

Finally, there are no magic pills that can tell when is a right time to take the plunge. But, the above tips will help in giving a quantified basis for that gut feeling!

Stay up to date on all the latest Bengaluru news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp