Ask yourselves these questions to check whether your Startup Idea is Viabile

StartUp is a rapidly evolving business that targets to meet a marketplace need by developing or producing an innovative product, process or service. Success of a start up completely lies on so many factors like industry  you are involved, competition and competitors, market study, marketing techniques, sources of funding, mentors , name of your start up and last but not the least the motivation of the founder, motivation to work without incentives. Today’s industry culture aims at acquiring the innovative minds driving start-ups. Before starting your start up validate the viability of your startup idea by asking yourself these questions:

• How passionate are you about your idea? Are you ready to dedicate all your time to it?

• Does your idea sound similar to what you love to do?

• Is your idea innovative and unique?

• What is your advantage/value add offered over the competition?

• Why should I personally use my product?

• Can you convince more than ten people to pay to use your product now?

• What is the intensity of the problem you intend to solve?

• Simplicity of the product. Can the product be explained in one sentence?

• What is your target market? Is it big enough to make revenue out of it?

• How much Fund is required to build your first prototype and product version 1?

• How to make money out of your product and how realistic is your Revenue model?

• What are the recent market trends and how does that make your solution possible?

• Are the promoters  ”clear” about their roles and responsibilities in the startup?

• How soon can you develop your product version one and how fast can you take it to the market?

• How well can you get connected to high profile people who can advise you and help you make it big?

• Your scalability plan, How soon can you execute it?

• Why should an investor invest on your product or you?

• Can you identify the key success factor?

• What are your survival goals and the long term goals to help you grow in next five years?

• Can you get up after multiple fails?

• Are you a good listener?Willing to learn from people around and implement?

• Finally, how is your idea helping in making the world a better place?


If you have more queries on getting your start-up started, kindly visit www.kannurtechnolodge.in or mail us at info@kannurtechnolodge.in