Most investors focus on the product to make an Investment decision, apart from the people, potential and traction in the startup. Here are a few questions that entrepreneurs must be ready to answer while making the pitch.
What are you developing?
This is the question of “purpose”. Understand the context for the need of the product, how are things being done now and why in a particular way. What will the proposed product achieve, considering the current social behavior of users and available technology
Who is it for?
One can’t design a product that is for everyone in the world, there is no one size fits all. Be sure, which segment of customers are your target – Enterprise/individuals, those who seek luxury/value for money, double income couples/teenagers everyone has different needs. Spreading too thin to cater to every segment will bother stakeholders. Continue reading