Startup Ideas: What is unique about your solution?
Customers need a reason to pick you.
Pretend to be a customer and figure out what it would take for you to buy your product instead of your competitor’s product.
There are some obvious things you can do to make your product unique.
The reason you need to do this is that competing on price alone creates a race to the bottom.
If there’s something unique about your product that people value, you don’t have to compete on price because people that need your unique feature can only get it from you.
There’s also an obvious point that follows from this: it would ideal if the unique value that you’re offering was something that is difficult for your competitors to offer.
I’m not saying this is easy.
In fact, it’s very difficult, but, if you can pull it off, you’re much more likely to succeed.
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Startup Ideas: Example
Let’s use the social networking part of the iimagine platform as an example.
This is the problem (and you can think of this as the problem statement):
Business owners want to increase revenue by promoting their business but advertising is expensive and search engine optimization, organic social media, and building an email list are all very slow.
So in this example, everyone can understand that businesses want to increase revenue and everyone understands that they will do it by promoting their business everyone understands that the usual strategies for promoting a business are either expensive or time-consuming.
How painful is the problem?
Let’s answer the question by using the framework I outlined earlier.
How bad will life be if the problem is not solved and how good will life be if it is solved?
So, how bad can life be for you as a business owner if you don’t enough revenue problem?
Well, you might have to fire employees, pay yourself less money, spend less time with your friends and family, default on a loan, walk around in a permanent state of stress, close the business or declare bankruptcy and deal with the shame that comes with failure.
So, how painful is that? Well, on a scale of 1 – 10, it has to be 10.
Now, how good can life be if the revenue problem is solved?
You can hire more people and expand, pay down debt, pay yourself more money and use it to buy things that make life better for you and the people that are most important to you, help your community, maximize your impact, and enjoy the respect that comes from success.
So, how good is that on a scale of 1 – 10? It has to be 10.
What is the solution (and you can think of this as the solution statement)?
Business owners can promote their businesses for free and get quick results by partnering up with other business owners and cross-promoting their products to each other’s customers and followers.
Now, let’s analyze the solution a little more.
How effective is the solution?
Finding business owners that will agree to this arrangement is difficult and time-consuming but iimagine will build a network of interested business partners for you for free and without you spending any of your time.
This is what allows businesses to increase revenue quickly and easily without spending any money spending.
This is exactly what every business owner wants.
What is unique about the solution?
Right now, there is no other platform that will build a network of partnerships that can be used for cross-promotion for business owners.
Now, for those of you that are actually building a business you should be interested in this so let me quickly explain how it works in 30 seconds:
Signup for a free account.
Go to social network and go to the profile section.
Check the boxes that match your objectives
That’s it! The algorithm will match you with other people that meet your criteria and send you a notification. You can review their profiles and connect with them.
If you decide that you want to move to the next stage with your idea development,