STARTUP LESSONS : Identifying Target Segment and Market Sizing

Understanding your Target Segment

UC When you start, you have the temptation to reach out to as many customer segments as you can - but is that the right strategy? Should you stay focused or spread yourself across segments?

Identifying the right customer segment for your venture idea is important. Equally important is the ability to dissect the customer segment. Doing this allows you to narrow your focus on the right segment and thus, market your products to a focused audience, with predictably better results. Let's first understand market segmentation in detail:

In order to identify the target segment, you should:

1. Segment your market correctly, based on Geographic, Demographic and Behavioural traits
2. Arrive at the value proposition of your product or service and customer's willingness to pay
3. Bring out an offering that is significantly better than the current options available in the market. Being incrementally better may not be very helpful.
4. Assess the size and growth of the relevant market segment
5. Once you have established yourself in a particular segment, you should consider the ability to enter adjacent segments

STARTUP LESSONS : Assessment of the Idea

Identifying the problem or the pain point you are trying to solve is the first critical step in validating your idea. You want to be able to clearly articulate a problem that you or others are experiencing regularly. You ought to be able to write down the problem that you are solving in a simple statement.

The next step is to determine whether this problem is a major one for your potential customers or not. If you build a startup that solves a “nice-to-be-fixed” problem, people might use your product, but never pay for it.
Let us understand how you should go about assessing your idea:

Identifying the problem or the pain point you are trying to solve is the first critical step in validating your idea. You want to be able to clearly articulate a problem that you or others are experiencing regularly. You ought to be able to write down the problem that you are solving in a simple statement.

The next step is to determine whether this problem is a major one for your potential customers or not. If you build a startup that solves a “nice-to-be-fixed” problem, people might use your product, but never pay for it.
Let us understand how you should go about assessing your idea:


So, to summarize, you should try and answer the following questions when you are assessing your idea:

• What pain point are you trying to solve?
• Who are you solving it for?
• How are you trying to solve it?
• Is anyone else doing it?
• Can you do it differently from them?
• Can you charge your customer? How much?

You also learned the factors you should look at while assessing your idea with the example of UrbanClap.
We want you to understand the importance of interacting with stakeholders involved in your business idea (For example in the case of Ola cabs, stakeholders involved are people using cabs, cab drivers, cab operators etc.). So now you should start interacting with stakeholders in your business, try and understand their perspective related to the problem you are solving. This will also serve as a good initial point of getting some clarity on the assumptions you are making about the business. It's quite possible that you may come to know some other major problems while interacting with these people.

It is highly recommended to do this activity as it will help you get more clarity on subsequent topics & assessment during the flow of this course and your startup journey. So get out of the building and break the ice.

STARTUP LESSONS : Identifying and Assessing the Idea

The first step for an entrepreneur before starting a new company is to find the right idea for his or her startup. The best way to arrive at a good startup idea is not to try to think up startup ideas – that would be the wrong way. The ideal way is to look for problems and needs, preferably problems and needs you have faced yourself. However, it does not necessarily have to be a problem you have faced personally. It could be something you have seen other people, your friends or family, face regularly.

Why is it better to work on such problems? First and foremost - it ensures the problem really exists. It sounds obvious to say that you should only work on problems that exist. And yet, by far the most common mistake startups make is try to solve problems no one has.

You should aim to solve a problem that you’re sure exists, and try to provide an offering that betters what an individual or a business would be going through today in the context of the problem or need to be identified. 

Trying to solve for pain points that individuals or businesses face can help you arrive at your venture idea. In this video, you saw how your idea should look to solve an existing problem. You also heard how some founders worked on the pain points that they observed to build their businesses:

1. Saavn: South Asian music digitally not available (B2C business)
2. redBus: Not being able to get a bus ticket at the right time (B2C business)
3. Freshdesk: Experiencing poor customer support services (B2B business)

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Rating Info: 8.1/10
Genre[s]: Action, Crime, Drama
Language[s]: Hindi
Directed [By]: A.R. Murugadoss
Writer[s]: Kumar Santha, A.R. Murugadoss
Star[s]: Sonakshi Sinha, Amit Sadh, Urmila Mahanta

  

Akira is a 2016 Indian Bollywood activity show Movie, which is co-composed and coordinated by AR Murugadoss. It is Jointly delivered by AR Murugadoss and Fox Star Studios under the pennant of A.R.Murugadoss Productions. The film highlights Sonakshi Sinha as a lead part and Konkona Sen Sharma, Anurag Kashyap in the supporting parts. It is the change of Tamil film Mouna Guru (2011). This motion picture is slated to discharge on second September 2016. Check Akira 2016 Review, Rating, Story and Live Updates Below. 

The official trailer of Akira 2016 had been discharged by the motion picture producers on Youtube on fourth of July 2016. It is being coordinated by Murugadoss who had before given some great Bollywood motion pictures like Gajini, Holiday and others. The trailer that had been discharged portrays Sonakshi Sinha in a never seen symbol. The Principal photography of this motion picture started in March 2015. Sonakshi Sinha while shooting got harmed in an activity scene for the motion picture on thirteenth July 2016. The soundtrack made by Vishal-Shekhar has been discharged on sixteenth August 2016 and the Background Score are finished by John Stewart Eduri. RD Rajasekhar has done the cinematography and splendid choreography of all the activity scenes from the film. Karan Singh Rathore's exchange are the huge attractions on the specialized front. 

The motion picture has been adjusted from Mouna Guru (2011) Tamil motion picture. The script is pretty much like the first film, however we can say that Murugadoss has attempted to make things creative and convey some uniqueness to it. The official Trailer got a gigantic reaction from the viewers and it has been sacked 13,772,800 perspectives till now on FoxStarHindi Official youtube channel with 62,822 preferences. 

Akira 2016 Movie spins around a school young lady named as AkiraSharma (Sonakshi Sinha). She has a place with the north Indian and feels extremely hard to change in the general public where she lives. She used to be an irascible young lady and dependably end up in a bad position. Being a warrior, she adores savagery. Indeed, this issue drives her behind the bars. Her folks sent her Mumbai, Worried about her conditions to take affirmation in a school. One day She gets included in an issue with tainted cops and an effective business. The rest frames the essence of the story. 

Raai Lakshmi will show up in the motion picture. It likewise has great fine music. A portion of the tunes are the chartbusters. there is an aggregate of 4 melodies in this motion picture. The principal tune "Rajj Ke" was propelled in three forms, "Purza", "Kehkasha Tu Meri" and "Baadal". the film's detail and other filmmaking components are great. However, we had expected significantly more from expert executive AR Murugadoss.

Movie Story: A gripping transpire thriller originally a college girl Akira, who has full- up by the whole of the ideals of over self reliant. Her period spirals erroneous of act when she becomes unwittingly engaged in a crime involving four corrupt long arm of the law officers. Akira Full Hindi Movie Download Hd 400MB

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