As a founder of 6 businesses, I realised that for every successful business, you need to identify something interesting to sell, someone interested in buying and someone interested in paying for the product or services. Whether you are a solopreneur, startup founder, SME business owner, or leader of a large enterprise on the mission to build a successful business, you are always brimming with questions like:
- What are the customer problems that my product will solve?
- Who is my real customer, and how to identify and connect with them?
- What is my target market? What is the size of my target market?
- What is my niche? Am I working on something unique? What is my unique selling proposition?
- Is the opportunity big enough?
- What is the potential market size?
- What metrics will I use to measure my progress and success?
- What current alternatives exist in the market that my target market currently uses?
- What features and benefits can I add so that my product is better than the current offerings?
- Is now the best time to launch my product on the market?
- What are my customer acquisition, growth and retention strategies for taking my product to the market?
- What are the critical factors that will influence my product?
- Am I physically, financially and emotionally ready to launch this product?
To answer these questions, you need the strategies, tools and perspectives that can lead to clarity.
It would be best if you had a systematic and step-by-step guide to help you in your entrepreneurial journey with idea development, competitive analysis, business model generation, building the business plan, developing the prototype and launching your business. The strategies, tools, and perspectives presented in the form of blogs on Appetals will help you make your dream a reality and achieve your business goal.
Useful Tip:Defining your idea in the format above is to step out from your subconscious into your conscious mind to describe in a way that if you had to tell the world about your idea right now, how would you describe it?
I hope now you have an adequate understanding of what it takes to build a great idea. Follow along to learn how to filter out the noises and discover your strengths to build your dream business.
Appetals Solutions, under the leadership of its founder Ishwar Jha, an award-winning technologist, former CEO of Digital Business at Zee Entertainment, and CIO of Sony Music India, offers product development consulting to the company of all sizes. Learn more by clicking the button below.