As the world is experiencing a revelution in digital technology that constantly disrupt the traditional ways of doing things, it is very important that we analyses our ideas in the contest of the market it is serving in order not to waste our time and resource pursuing an ideas that people don’t have demand for it.
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- Is Their a Market Demand For The Problem You are Solving With Your Idea.
People have talk some much about being in the right market because it is the only things that will make you survive, the problem your ideas is trying to solve is their market for it, the moment you are able to figure out this, then you can move to the next stage of ideas.
There are times where your ideas might not be attract the right market, don’t worry all you need is just a market segment that are willing to part with their money for the problem you are solving with you idea.
In a situation where their is no market for the ideas your have, the best things is just to pivot to other ideas that is why it is very important to have pool of ideas to play around with as a budding technology founder in the beginning.
- Good Distribution Channel
Distribution channels is the way you take the product to your customer, the more you spend time in the early days to figure out the channel, the better for you when you finally lunch.
Thus it is very important to start a Pr-lunching campaign, where you highlight to your potential customer about your new product that is coming to the market. thus you can be able to know the efficient and quick way to distribute your products to your customer.
- Monetization Channel
Let be honest it’s all about the money we all know it’s take takes passion and purpose to stick to this crazy startup hustle but you needs funds to pay yourself, team, internet resource and those expensive hosting package, that is why Dem it fit to include it as a factors to consider for your ideas.
At the very early stage of your ideas, you should be able to know how you are going to charge for your product. there are different monetization channels you can choose to implement for your product, be it freemiun, premium or subscription base channels, the channel you might works for one ideas ans it might not work for others.
Also Read: A Must Have For Every Budding Technology Startup Founder
with this am certainly sure your ideas is off for the next big thing in the industry, don’t forget to share this with your friend on social media using the social icon.
What other factors should be consider apart from this in order to make an ideas viable