If you’ve recently come up with an idea for a new venture, there are now two options: jump right in without any thought or step back and ask yourself if the idea is feasible. In order to succeed, planning is a necessary step in the startup process. Consider asking yourself the following questions when starting a business.
- Does your product or service solve a problem? What problem does it solve?
- Does your product or service increase convenience in your customer’s life? If not, how can you tweak it to make life easier and more convenient?
- Is your product or brand remarkable? Will people want to remember it?
- Is there a sense of urgency for consumers to purchase your product or service? How can you stir up the need for consumers to buy your product immediately after discovering it?
- Are consumers easily able to connect with your brand?
- Does your product or brand make first time customers want to come back for more?
- Does your brand have discoverability? In other words, are there multiple different ways a consumer can come across your product or brand?
Asking yourself these questions will help you find the strengths and weaknesses present in your new venture. Making a few small changes here and there could go a long way, especially if you find the missing pieces even before you start!
By Samantha Haupt