Is your startup addressing your users needs? - Start-Up Hyderabad
Loading Startup Hyderabad

Is your startup addressing your users needs?

 7 years ago    

Was at two hackathons this week. EXCITE at JNTU and the Hyderabad edition of AngelHack. Very reassuring see the very steep jump in the depth of ideas, quality of teams and the view of the markets.  From a very contemporary yet fresh take on location based sharing of pictures that trigger social conversations. To a Pebble watch solution connected to IoT sensors for security at home.  To a solution that connects various social networks and extracts info in professionals.  And then some.  Many of the teams are very serious about pursuing further with their ideas.

That said, one common issue with early stage startup’s, which was evident this weekend also, is the lack of a purposeful user angle.  While commitment is great, passion to start is encouraging, and technical drive is surely world class, the market view is very superfluous. Even as this is understandable given the very exam and clnpetetive tests focussed education system, it is not very difficult to cover key bases when considering startup ideas.

hack

These are not just cliches.  Simple economics.  User has a problem.  That is causing some commercial cost/loss either thru incomplete solution or inherent  inefficiencies or errors in process, or just high cost. If the startup can find a way of improving any of these aspects that result in stemming the commercial cost or loss, we are in business! Simple.  When assessing an idea, the first question to ask is what need of the users  is the startup addressing.  Is that need so compelling that the user is willing to pay to get a solution.  If need present and compelling, the next consideration is what the incumbent alternate solutions are. And how the new  solution is better than any and all of the alternatives.  Not just better, is the startup solution technically and commercially feasible, With the unit economics rendering  the solution viable. And the at scale opportunity resulting in a revenue size that is the enough to make the startup journey worthwhile.

These are the simple questions to ask when ideating for a new startup.  Whether a product or a service, all above are required to make the idea an interesting and compelling.  Further down the startup prototyping journey, the market aquisition angle and GTMs also starts become critical.  Before going thru and last seed investment stage.  But in the initial stages just establishing a compelling need, feasible solution and viable unit & scale economics are the key. Not difficult at all. Simple questions to answer! :).

Happy Starting Up!

Originally Featured in New Indian Express: http://epaper.newindianexpress.com/m/873827/The-New-Indian-Express-Hyderabad/14-07-2016#issue/23/1

Comments

comments

Ramesh Loganathan

Hyderabad enthusiast, Shiva/Shivaji fan, adjunct faculty.. observing Hyderabad grow into a beautiful, creative, innovation minded tech startup city.

OUR BLOGGERS

  • Saritha Keshamoni

    Saritha Keshamoni

  • Rituka M

    Rituka M

  • Ramya Sayaboni

    Ramya Sayaboni

  • Bhavitaavya Dharanikota

    Bhavitaavya Dharanikota

  • Sruthi Malla

    Sruthi Malla

  • Tata Teja

    Tata Teja

  • Nethrikaa Greeshma

    Nethrikaa Greeshma

  • Ruchika Agarwal

    Ruchika Agarwal

  • Neeha Jayaram

    Neeha Jayaram

  • Avatar

    Sameeksha Bansal

  • Rahul Das

    Rahul Das

  • Shravani Maddirala

    Shravani Maddirala

  • Saloni Anand

    Saloni Anand

  • Avatar

    Madhureema RoyMoulik

  • Srinivas Aki

    Srinivas Aki

  • Dhivya

    Dhivya

  • Sravya Gowrisetty

    Sravya Gowrisetty

  • Soumalya Chakraborty

    Soumalya Chakraborty

  • Monika Guwalani

    Monika Guwalani

  • Ramesh Loganathan

    Ramesh Loganathan

  • Nischala Agnihotri

    Nischala Agnihotri

  • Varun Rastogi

    Varun Rastogi

  • Harshita Goel

    Harshita Goel

  • Nikita Kiran

    Nikita Kiran

  • Avatar

    Ankur Mehta

  • Neha Mohsin

    Neha Mohsin

  • Maddy Anand

    Maddy Anand

  • Chandra Mouli Koduri

    Chandra Mouli Koduri

  • Ayyappa Nagubandi

    Ayyappa Nagubandi

  • Divya Jyothi

    Divya Jyothi

  • Ayushi Pandey

    Ayushi Pandey

  • Saptarshi Roy Chaudhury

    Saptarshi Roy Chaudhury

  • Amita Sood

    Amita Sood

  • Avatar

    Surya Vallae

  • Gunajit Haloi

    Gunajit Haloi

  • Avatar

    Manoj Surya

  • Ravi Vaka

    Ravi Vaka

  • Sreekar Reddy

    Sreekar Reddy

  • Priyanka Mechineni

    Priyanka Mechineni

  • Ambika Asta

    Ambika Asta

  • Avatar

    Anish Tadimarri

  • Vana Korrapati

    Vana Korrapati

  • Avatar

    Vineel Reddy Pindi

  • GR Reddy

    GR Reddy

  • Vinita Surana

    Vinita Surana

image title here

Some title