.png)
I know many of you might be asking yourself what exactly is a start up and if you think you are one or not. Another question that I have been getting lately is “how do I start a startup?” Well, this blog post is about to answer these questions for you.
What is a start-up?
A start-up is the action or process of setting something in motion. Start-ups can be founded by one or more entrepreneurs who want to develop a product or service for which they believe there is a demand.
How do you start a start-up company or business?
The owner or owners will begin by carrying out a market validation exercise by conducting problem and solution interview.
What is problem interview?
Problem Interview is a term used for interviews that you conduct to validate whether or not your target audience has the problem you are thinking of solving.
In the Problem Interview, there are three things you want to focus on:
1. Problem: What problem(s) are you solving? - How do customers rank the problem? Is this problem a priority for them?
2. Existing Alternatives: Are there existing alternatives to your proposed solutions? Who are your competitors? - How are your target audience dealing with the problem at the moment? What solution are they using to solve the problem currently?
3. Customer Segments: Who has the pain/problem? - Is this a viable customer segment?
Talking to people is hard and talking to people in person is even harder. The best way to do this is building a template and sticking to it. Also don’t change or modify your script until you’ve done enough interviews so that your responses are consistent.
While you can conduct the interview any way you want, whether by person, by blog, by emailing, by survey, the main point is to collect the information that you will need to validate your problem.
Also, the interview template is merely a suggestion/advice. As long as you can get the answers you need with your own methods, then please go ahead!
In the Solution Interview, you want to focus on these three things:
Early adopters: Who has this problem we are trying to solve and why? How do we identify and engage with them?
Solution: How will you solve the problems? What features do you need to build as part of your solutions, why?
Pricing/Revenue:What is the pricing model for your product or service? Will customers pay for it and why?
With solution interviews, it is very important to listen a lot when it comes to exploring solutions, as you don’t want to guide your customers towards a solution that you’ve got in your mind set on.
Hope you have learnt a thing or two on this blog post? If you need help with preparing your problem and solution interviews, then book a FREE Consultation with me via this link https://freeconsultationwithMaryFash.as.me/
For more information about me and my services, please visit www.maryfash.com
Have a wonderful and productive week.
Until next time, it is Your Start-up Queen
MaryFash