1. What Is Your Project Called?
Example: Branding is critical for any project’s success. Your brand name is typically the first interaction customers will have with you. The name should be unique, genuine, memorable, and timeless. An original name plays a crucial role in building a robust brand reputation.
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2. Can You Provide a Brief Description of Your Project/Idea?
Example: Outline your idea in one or two paragraphs. Your description must include the project's goals and objectives, stakeholders and their roles, success metrics, a timeline, and a tentative budget.
3. What Problem Are You Trying to Solve?
Example: Successful businesses emerge by addressing a specific problem or enhancing others' lives. If you’re conceptualizing an idea, consider what issues it will alleviate. Having a clear problem to address will make your app more marketable as a solution.
4. How Does Your Idea Solve That Problem(s)?
Example: Every prosperous venture begins as a solution to a particular problem: Uber transformed the taxi industry into a more accessible and cost-effective service. Netflix simplified online streaming. Kevo revolutionized keyless entry, whereas Lumosity promoted brain health.
5. Can You Describe the Different Users of Your Idea/Application and Their Interactions?
Example: What personas characterize the various user types likely to engage with your application? Personas can offer insights into diverse needs and assumptions, helping you better empathize with users.
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6. Are There Other Websites or Applications Offering Similar Services?
Example: If your rideshare app targets luxury clientele with premium vehicles, you should acknowledge competitors like Uber, Lyft, and Gett which operate in the same space.
7. Are There Substitutes for Your Idea?
Example: Both airplanes and cars provide travel solutions. For shorter distances, a car may be more efficient than flying, thus serving as an adequate substitute for air travel.
8. How Will You Promote Your Idea?
Example: Will you send out press releases, leverage social media, create a website, use search ads, or obtain influencer endorsements?
9. What Is Your Funding Strategy?
Example: Will you finance your project through personal savings, loans, or support from friends and family? Consider looking for a co-founder to share expenses or exploring crowdfunding and angel investors for seed funding.
10. Is There a Specific Figure That Would Encourage You to Start Development Immediately?
Example: Determining a budget to bring your idea to life depends on factors such as:
- Complexity of the solution to the problem
- Hourly development rates
- Prioritization based on cost, speed, or complexity.
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