#AskPS
Gulshan Kumar Singh .

#pushask

Has it ever occurred to you that you find a gap and see a business opportunity in real-time, but when you start exploring that area, you don't find enough data to back it up?
When you share your idea with people, they are not very responsive.
But you are still very enthusiastic and have a gut feeling that it can be a good business opportunity.

What do you do?
You stop and move on or go ahead?

Originally Posted Here
13 Comments

Zain Siddiqui

Has it ever occurred to you to develop a prototype and talk to real potential customers and verify the same instead of just vaguely talking to people about your idea and doing market research?

Gulshan Kumar Singh

Zain Siddiqui I agree. But how do you build a prototype for an inventory led business. One way to do is - Prototyping on paper. And how do you reach out to people when the concept is new or have very little awareness among people?

Zain Siddiqui

If you do not have friends or connects in the industry who are willing to humor your solution with their inventory led business, I'm not sure what are you playing at? Listen to the community and make connects first instead of dreaming in your silo.

In case you are an introvert and genuinely still dont know anyone and want to find who will listen to you, then layout the blueprint on Pushstart and let's see how many serious people you can engage. Use #PushIdeas

Sarthak Aggarwall

the most impactful people throughout history show introvert ism as an aspect in there life. Keep pushing Keep Dreaming!

Amit Rohra

Learn customer development, sales, and market sizing

Surender T Natarajan

Go in-depth about the problem. Check the ways they are currently solving the problem. Check for substitutes, they also might be effective.

Sarthak Aggarwall

It is really important to know what was that you were meant to do.

If you spend 300 months spending on stuff you listened to by someone else, granted you will learn a lot, but the most important thing at the end of it you'll learn is not listening to any fucking body.

Listen to people who you believe in, those who's beliefs resonate within you, don't play small.

At one point after some years you will become so resilient that no wall or walrus can touch you. Break, Shake, Enjoy, and Keep smiling ;)

Sarthak Aggarwall

A concepting framework you can test very easily sitting at home.

It's like they say you have to build an MVP, now the first wrong expectation is joining it with funding.

You make an MVP for validated learning for yourself. How to move ahead, what are my current hypothesis and question like these. Read Lean startup.

In that if you think that the first breakthrough question you need is an MVP Question.

Find online people, blank requests to them, post in student/marketing groups/categories/twitter/ email ...

Now you have to send them a minimum viable question, how it will be valuable if more than 50% (this number can be lower higher, you decide) answer what you had thought.

This is your first breakthrough.

In less than a week you will have the tiniest theory to move ahead.

Sarthak Aggarwall

The idea of randomized experiments is not new, you do not know what exactly you will achieve, many fields apply this in their work. You will never hear it in low level business motivators. As the world flexes and moves towards fragility, only systemic solutions which are very much a subset of randomized trials will emerge with competitive advantage.

Rest all, are just mere medium business, mediocre people, and some one who will never know what he could have achieved.

Gulshan Kumar Singh

Thank you for your detailed response.

This particular post was meant to have a general opinion from people who have been in this situation. Because I know lot of people have been or will be in that situation.

I think this post was pretty simple and easily understandable, but somehow it got led into different direction and defeated the purpose of this post.

It had nothing to do with my personality type or business model or connections in the Industry.

But it got into that direction from the first comment itself.

Whenever you see a business opportunity, you try to read about the industry, you try to get as much information as possible, you do self-analysis of your interests and capabilities and then you try to get to the MVP or prototype stage.

You don't start building prototype from the 2nd day itself. But somehow people skip the first step and start building prototype as soon as they get idea.

Never mind, this particular post got misunderstood, which happens many times.

It shows how a simple content can be misunderstood and can be led into different direction. This is how you learn

Sarthak Aggarwall

Well even a farmer finds contentment, and we all will.

https://www.facebook.com/watch/?v=163807745010842

Vijay Manjunath

It actually depends on what stage of entrepreneurship you are. If we are at a very early stage with no real business life learning, then yes we would go straight to prototype development. This happened with me 4 years back. At the stage where I am now(not highly successful, but yeah with a decent understanding of the failures I had over the years and learning from them), I would talk to my business partners and see their response towards it. Does it excite them? It's always good to look at it from multiple sides of it and founders with different skillset help you in this case. Very recently I got an idea to introduce branded Whatsapp stores for these Kirana shops and help them understand the data which will flow through the online system. Provide them with business intelligence, and tool to manage/ increase the count of their most loyal customers through activation of subscription plans for them etc. we didn't pursue it because we couldn't validate our hypothesis properly :-9

Madhuri Sen

Primary research to establish a case based on user gap analysis helps. Usually you are also able to assign a value to the gap (your product/service) would fill, even if it's notional. There are various consumer research methods to do that. Please connect on LinkedIn if you'd like to understand specifics or what's applicable to you https://in.linkedin.com/in/madhurisen

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