Are you ready to start a company?
Successful entrepreneurs often satisfy a single but important unmet need of a market. If you can satisfy just one single but important need of a market, you can start and likely sustain a company.
So, can you tell us in a single sentence what single but important and unmet need of a market you are going to satisfy? Below are three examples of folks who answered that question well in the past. (BTW, order is not hierarchical in any shape or form).
#1 Untuckit.com: “We started UNTUCKit because we had trouble finding shirts that looked good untucked.”
#2 Basecamp.com: “We weren’t happy with the project-management software available out there so we created our own.” – Jason Fried & David Heinemeier Hansson, founders of Basecamp
#3 7Shifts.com: “I first started 7shifts to make scheduling easier for my dad, who owned a few sandwich shops and scheduling was one of his biggest challenges.” – Jordan Boesch, founder of 7shifts.com, employee scheduling software for restaurants
My 2¢: Having a fanatical focus on doing one thing well can be your secret to success. You should be able to tell us, in a sentence, the single important unmet need of a market you plan to satisfy. If you can’t tell us, then you likely don’t know. And if you don’t know, are you ready to start a company?
Feb 11, 2016