Initial startup idea viability research
Adora Cheung, founder of on demand cleaning service Homejoy walks through the first steps you should take after deciding on your startup idea.
1. Becoming an expert – sign up to related news sites and read any recommended and influential material you can find.
2. Identify the different types of customer in this market segment.
3. Storyboard your ideal user experience when using your product.
4. Learn the pros, cons and limitations of existing competition.
5. Constantly learn from and evaluate this competition, study their earnings calls, their financials and any news related to them.