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FIND UNSOLVED PROBLEMS OF CUSTOMER’S SOLVE THEM BE DIFFERENT FROM WHAT OTHERS DO

 
 
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FIND UNSOLVED PROBLEMS OF CUSTOMER’S SOLVE THEM BE DIFFERENT FROM WHAT OTHERS DO
by System Administrator - Monday, 19 January 2015, 3:02 PM
 

By : M.S.Yatnatti: Editor and Video Journalist Bangaluru : Everybody has problems. Many have many problems .Few problems are universal. Few problems are local few are national and few are international .Find unsolved problems. Companies succeed because they solve and understand the unsolved problem and come up with solutions that are very different from what others do. Put yourself in the customer's position; perhaps you would have experienced a pain point yourself. You may not fully understand the difficulty unless you experience it yourself .Develop deep customer insights. Secret of your success is in Passion, determination, vision, agility, team play, fund-raising skills.What exactly defines the DNA of a booming startup? What do some of the biggest names in the investment community look for in startups and entrepreneurs Clarity of vision Domain expertise? What key factors do successful entrepreneurs attribute to their triumph? Need to be understood diligently.

Many venture capitalist look for startups addressing larger customer base scaling up large, interesting markets. It's important not only that startups succeed, but that the the co sequences of that success are large. Startup investment is based on the premise that you the premise that you can make hundred times your money, and that's not possible if the markets are small. Venture funds look for really good entrepreneurs, those who can be agile. Since venture funds focus on startups doing things that have generally not been done before, it's really important that entrepreneurs are agile; they can change plans rapidly, come up with new ideas, zig and zag wherever the road leads to. Some people are too traditional and they only do what they have done before, and those don't make good. venture funds look for really good technologists and at technical breakthroughs.( venture funds look at) those that cause disruption and give the startup an advantage. I see too many people in the investment world chase what is successful. If Amazon is successful, you will have a lot of people trying to chase ecommerce. I found not enough people were doing startups for the bottom 3 billion people on the planet. I understand why people don't do it; it's because the bottom 3 billion people don't have much money.But I thought that was an opportunity because there is not much competition there, and it also makes venture funds feel better. It's a personal indulgence. When you look at the bottom 3 billion people, almost everything is a problem.