How do you plan to address the market?Sachin Kalaskar
“I have a very bright idea. I have over twelve years of industrial experience, and I think I can build the best product in this segment.”
In a breakfast meeting with Suyash, he was talking about his plans to leave his job and start a business of his own.
“Will you invest in my startup?” or “Can you help me to find an investor?” I was expecting the question. Who would not want to invest in a bright idea?
Suyash is a highly motivated techy, who will spend all available time in analysing the problem, find the best solution and implement it flawlessly. In his career so far, he has done it multiple times and received many awards.
His idea sounded genuine, and the solution he proposed was also implementable.
However, no customers are going to buy your product, because it is a bright idea.
The key question to ask is, is there a market need for your idea? If not, do you have the muscle to create it? If the answer is yes, how do you plan to address the market?
As a tech innovator, how do you ensure that you are creating something the market needs?