Questions

How can I test if my business idea would be successful?

I will keep things general but essentially I want to build a platform to allow local people in my area to utilize private trucks, trailers and vans for fast and convenient deliveries, drop offs, etc. Think about you pulling up to a Best Buy in your Honda Accord and you want to take home a 72" tv. Testing a new concept and would like your feedback on whether it would make sense or not.

4answers

This is an interesting idea. In fact I faced a similar problem recently - I wanted to pick up a sofa that I'd bought from ebay.

My options were - borrow a big van and drive it there and back, hire a man and a van to do so.

I chose the man and the van via this service - https://www.anyvan.com/

So a solution already exists here but perhaps there's a spin on it? Get people to pick up your items when they're traveling that way anyway - it's been done too - https://www.nimber.com/

It maybe that your market isn't mature and there's a need for this where you are.

What I'd suggest is the following:

Sketch out the problem/s and what people do about that problem
Sketch out the use cases
Sketch out all your assumptions
Then try and debunk them - one by one
Speak to people - whether that be on forums, facebook, in person, friends, relatives etc and gain as much insight as you can.
Once you've got that insight try and sketch out the solution to the problem
Once you've got that - then go back to your BMC and re-hash the whole thing
Then build a cheap website/landing page saying that you can solve that problem by doing xyz - you don't even have to have the service or anything
Promote it and collect feedback
Re-hash the BMC
Then decide whether it's viable or not.

Happy to chat through in more detail.


Answered 4 years ago

Really cool that you intuitively know to spent time investigating the probabilities before jumping into things. If there is a Startup Weekend near you do that - in 54 hours you will get to wrap a small team around the idea, learn + do customer validation an get expert help from local mentors. If that isn't a possibility, you could create a landing page that "sells" the idea as if it exists, then put a couple hundred behind targeted fb ads to see if you have something that people are interested in. At minimum, read Eric Reis' Lean Startup book to learn how to ensure you create a product that really fits a market. :) Get in touch if you want to chat more!


Answered 4 years ago

First thing I started with was researching what my competition would be. Are there any other apps out there already providing the same service - in my area or out of it. There are a couple that I'm aware of Buddytruck & goshare. How successful are these companies? Are they competing in your market? How would you differentiate from them.
Second I would consider your supply chain - are there drivers with the right types of vehicles in the area? What businesses would promote your services to their customers? Engage with the business owners or executives to get their prelim feedback.
Third who are your target customers? How would you engage them?
Fourth would be your financial proposal. Is there enough potential revenue? Do you have the capital to finance it and keep it operational for a year? When do anticipate enough revenue to cover your costs...etc.

I'd be happy to talk through this with you and share my experiences and challenges particularly is founding my own tech startup.
Best wishes.
Allycen


Answered 4 years ago

One way is to show it to your target market (specific customer) and get feedback and then take that feedback and develop the idea further. This is a low risk and cost option to test your business idea.

Talk to me if you would like to know more.


Answered 4 years ago

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