Got a new idea for a startup company? I know, it’s pretty exciting! But before you go running off to dropout out of school or quit your job, there are somethings you should think through. Recently a mentor of mine shared these questions that I’ll like to pass on.
To help you evaluate your idea, reflect on and answer these questions:
- What is the specific problem that you see and are trying to solve?
- Who are the customers and specifically the target customer segment?
- What are the pain points that your target customers face?
- What are the specific use cases of your target customers?
- What existing solutions are trying to solve that problem?
- What is the product or solution that you intend to deliver?
- What is your permission/ reason to believe you can deliver that product or solution? i.e. your team’s skill sets, or a solution that you are able to build on.
- What are the risks to success that you see, and what are the ways that you intend to mitigate them?
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