Startup assessment – we will identify the possibilities of your startup
I need a startup evaluation in terms of marketing. I don’t know marketing, so it’s difficult to evaluate it myself and I need a marketing consultant. The essence of the idea is the release of personalized cases for mobile phones. It will be implemented through the website. It will have a catalog of covers. A person chooses a cover in the catalog.
Then, in a special form on the site, he writes his first name, last name, nickname. Then he clicks on the “get a virtual case" button and sees a virtual case with his name, which he, if he likes, can order in real form.
I decided to make such a startup because my previous business was selling cases and other accessories for mobile phones. It had to be closed due to Chinese online stores.
Evaluation of a startup in terms of marketing
Evaluating a startup from a marketing point of view is something that you must definitely do if you don’t own marketing yourself. Even if they would own, you still need to get an external assessment of a disinterested person. The fact that you applied for such an assessment is a big plus for you, which will play a positive role in the future.
I must say that the evaluation of a startup is a very serious event that goes beyond a free consultation. A full assessment is only possible within the framework of a private consultation. I can only go over the key points.
The first key point on the list is the idea itself. The first in importance is the startup itself. Accordingly, the assessment begins with the assessment of the startup. As practice shows, the first thing on which the success of a startup depends is the depth of pumping the startuper with the idea that underlies the startup.
If a startup is deeply pumped with an idea, then he, as a rule, achieves success. The depth of pumping depends on how much a startup understands his idea himself, how much he can explain it to consumers and investors, how much he has the strength and patience to move forward, and so on.
You can get such an assessment if you send your startup application form completed by you. After that, you can level up if it is not enough. It is also advisable to send your personal completed program.
The start-up legram, as well as your personal legram, will also be needed in order to assess the degree of your synchronization with your project. The bottom line is that a person is an idea. A startup is also an idea. Sometimes the ideas are in sync with each other and help each other, and sometimes they are out of sync and get in the way.
How to evaluate the prospects of an idea
Success can only be achieved when ideas help each other. The amount of success, of course, depends on the scale of the idea. Some ideas bring in thousands of dollars, some millions, and some billions. Accordingly, the second key point is an assessment of the scale of the idea that underlies the startup.
At the same time, you need to understand that there is a scale that you see, and there is a scale that can really be covered. To determine the real scale, it is necessary to study the potential of the market. In principle, this is not difficult to do, because the numbers lie on the surface.
Accordingly, your potential market is about 7 million consumers
The population of St. Petersburg is about 5 million people. The population of the Leningrad region is about 2 million. Accordingly, your potential market is about 7 million consumers. However, there is a nuance. There are 7 million people, but there may be fewer consumers.
Because a consumer is a person who wants to realize an idea. If he does not want to implement, then, accordingly, not the consumer. One of the ideas that can be implemented with a case is self-realization. According to my previous research, from 5 to 20% of the population may have this idea active in themselves.
Taking into account those in whom the idea can be introduced or inexpensively activated, it will turn out to be about 45-50%. Accordingly, your potential market is 350,000-1400,000 consumers. Another 2.10 – 3.15 million is a promising market.
How many people end up making a purchase depends on many factors, and one of them is the price. Someone is ready to pay 500 conditional units for observing their name on the case, someone 1000, and someone 5000. The price is of course an important factor, but not a determining one. It is possible to raise the value of the product so much that more than 5,000 conditional units will be ready to pay for it.
Evaluation of a startup in terms of sales volume
Another interesting point is that there are consumers, but there are needs. A consumer may have multiple needs. For example, through one cover he will want to realize the idea of "self-realization", through the second the idea of belonging, through the third some other idea.
Accordingly, if there are 2.10-3.15 million consumers, this does not mean that the same number of covers can be sold. With a competent approach, sales will be equal to the number of needs, not consumers.
To determine the number of needs, you need to know all the ideas that can be implemented through your product. There can be a lot of ideas and each one will need a unique case.
Ideally, you need to have an "idea map" that can be implemented through a case. Moreover, each of the ideas must be evaluated in the context of existing trends. Trends are ideas that are already being launched, that are already being implemented. You can fit into them and take advantage of their energy if you understand how your idea can help them come true.
The main success factor of a startup
As you probably already understood, the most key point in evaluating a startup is evaluating a startup. If a startup is pumped enough with an idea, then he is super-motivated, which means he will overcome all difficulties and reach the end. If not, then he definitely needs a marketing practitioner.
Startup pre-assessment can be done by you after reading the Startup Marketing article. This article reveals the startup marketing scheme, as well as the main nuances that increase the chance that a startup will be successful.
When you read this article, you will understand a lot yourself and will be able to take the necessary actions in order for your startup to be as successful as possible. To maximize the effect, it is recommended not just to read the article, but to imagine how the information received can be applied to your startup.
Try to try on each of the stages of the proposed scheme for your startup. Try to predict what you will get as a result of your actions without the proposed scheme and what you will get with it. The difference will be the startup valuation.