— “Learn how to identify a good business opportunity in the market to help develop new digital tools and solutions from startups.” —-
The delimitation of aopportunityHaving a high chance of success in the market represents one of the first steps in the development of a startup. With technological innovation and the development of complex data management systems, there has been an improvement in services and problem identification that can be addressed through digital tools and solutions.
More and more, digital businesses are created to outline specific problems and targeted pain points using emerging technologies, such as Artificial Intelligence (AI). Thus, with technological innovation embedded in the DNA of startups, these ventures demonstrated significant resilience in the face of instabilities in the financial market and events that reconfigured the global economy, such as the pandemic.
1. Finding a problem
Most of the time, theThe development of a startup begins with the identification of a relevant problemthat can be solved through digital solutions. This stage involves market research and in-depth data analysis to ensure the business's viability.
The structuring of the idea and the planning of the startup model represent stages after identifying the business opportunity. The problem must present sufficient recurrence to sustain the activity of the enterprise.
2. Defining the customer profile
Determining the customer profile, based on the opportunity outlined by the startup's feasibility study, allows measuring the size of the target audience, capable of directing campaigns and personalized product development.
Furthermore, establishing the customer profile helps to validate the public interest in the business. It is important to understand whether the idea truly represents an innovation in the market, and how scalable the business can be.
3. Empathy validation
Understanding the pains of the market goes beyond identifying a good business opportunity. Maintaining empathy with the client, proposing efficient solutions to specific problems, ensures greater accuracy in product development in startups.
In other words, understanding the user and creating product-oriented research are points that allow you to attest to the accuracy of the business in the market.
4. Activity management
From the selection of the initial problem to be solved, other challenging tasks will arise along the way for those who are undertaking. Therefore, the chance to leverage the business is related to activity management in the startup.
It is not possible to solve all problems quickly. Therefore, scalable activity management is necessary to delegate tasks and keep all stages of idea development running smoothly.
5. Create products to serve the market
The pursuit of scalability in a startup must adhere to some essential principles for the healthy long-term maintenance of the business. The poorly exploited opportunity can result in substantial losses for the enterprise.
However, it is necessary to maintain a balance between business opportunity and scalability. The developed product must serve and meet the market's needs, not just the entrepreneur's expectations.
Technological innovation has enabled startups to survive unforeseen events such as the pandemic and economic instability in developed countries, which would not have been possible without the precise identification of a problem to be solved in the market. Therefore, defining the opportunity and validating the audience's empathy are essential steps to maintain the scalability of the business in a digital environment.
