Identify Your Startup Idea Advantages
In validating your startup idea look for these advantages:
Does your idea resonate with the potential buyer?
Your buyers should be excited about it when you tell them.
Is your idea perceived to be better than the competition?
Buyers should see the advantages right off the bat without too much explanation.
Is the idea easily understood and grasped by the buyer?
The idea should be clear to the buyer without confusion.
Does your idea give the buyer the opportunity to try it before buying it?
If the buyer can try it out first then this will be helpful in the marketing process.
Are the advantages of the idea clear to everyone?
Even non-users should see the advantages of it.
Does your idea have any defensibility against competition?
It helps to have some protection on the idea through intellectual property or trade secrets.
Note these advantages in testing your startup idea.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.