What makes an idea something worth a startup?
I have a great idea. What are, in your opinion, the questions to think about to check if it is, or isn't, a amazing base for a startup ?
1 comments
Will lots of people pay you lots of money for it? If not, will lots of people pay you a little money for it? If not, will a few people pay you a lot of money for it?
Any of the above would lead you to then ask yourself whether you or your team have the right skills/experiences/capital to pull it off and then you need to understand if the cost of acquiring customers leaves you room for profitability (basic CAC vs. LTV).
I'd recommend and go talk with a bunch of your prospective customers to get feedback on the idea. Look for trends in what they are saying to understand if there is a compelling need or not.
Any of the above would lead you to then ask yourself whether you or your team have the right skills/experiences/capital to pull it off and then you need to understand if the cost of acquiring customers leaves you room for profitability (basic CAC vs. LTV).
I'd recommend and go talk with a bunch of your prospective customers to get feedback on the idea. Look for trends in what they are saying to understand if there is a compelling need or not.
thanks eskimoroll .