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Idea Validation Report - Online Healthcare Services
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Idea Validation Report - Online Healthcare Services
Oximus Research Sphere
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Founder at Startup Company à Oximus Research Sphere
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Idea Validation Report - Online Healthcare Services
1.
Idea : –
Online Healthcare Services. Copyright © Ideovate.io 2015-17 1
2.
Name of your
startup ideaName of your startup idea Just’ahealth – Online Healthcare Services.Just’ahealth – Online Healthcare Services. Real problem/customer pain your idea solves.Real problem/customer pain your idea solves. Whole world is facing a tsunami lifestyle & geriatric diseases where preventive care is the heart of treatment. Pain points for the customers are:- #1. Bad customer service, increasing cost , waiting periods , increase in mortality rate, treatment in a sick environment etc are associated with hospital centric care for above diseases. #2. Preventive care segment is scattered, unorganized with lack of providers with 360 degree approach. Copyright © Ideovate.io 2015-17 2 Explain your solution to the above problem.Explain your solution to the above problem. Startup Owner:Startup Owner: Subscription Plan Opted : FREE PlanSubscription Plan Opted : FREE Plan Whole world is facing a tsunami lifestyle & geriatric diseases where preventive care is the heart of treatment. Pain points for the customers are:- #1. Bad customer service, increasing cost , waiting periods , increase in mortality rate, treatment in a sick environment etc are associated with hospital centric care for above diseases. #2. Preventive care segment is scattered, unorganized with lack of providers with 360 degree approach. An aggregator online marketplace for 360 degree preventive care needs (primary, secondary , tertiary). Which will include on demand care services at home, healthcare products buying /renting option and blissful wellness services booking.
3.
90% start-ups fail... SELLING
SOMETHING NOBODY WANTSSELLING SOMETHING NOBODY WANTS Copyright © Ideovate.io 2015-17 3 We're here to change that. We're here to change that.
4.
Is my idea
good enough?Is my idea good enough? What we do? Copyright © Ideovate.io 2015-17 4 Validate, Validate, Validate Is my idea good enough?Is my idea good enough?
5.
Get your idea
validated in 3 steps Spend just 10 minutes to answer our questions & get your idea validated in 24hrs Research & Ranking of your idea Submit your idea Insightful diagnostic report Research & Ranking of your idea Submit your idea Insightful diagnostic report Startup owner will submit his/her idea on our website & make the payment. Based on the subscription plan they receive questionnaire. For enterprise plan a telephonic interview will be conducted. Startup owner will submit his/her idea on our website & make the payment. Based on the subscription plan they receive questionnaire. For enterprise plan a telephonic interview will be conducted. Step 1 For every response submitted, our internal algorithm will generate ‘N’ number of questions which will be evaluated by our expert team and scores are assigned on each evaluation parameter. For every response submitted, our internal algorithm will generate ‘N’ number of questions which will be evaluated by our expert team and scores are assigned on each evaluation parameter. Step 2 Client will receive a detailed research & rating report wherein evaluation on each parameter with score out of 10, feedback/suggestion are provided. A certificate will be issued with overall score. Client will receive a detailed research & rating report wherein evaluation on each parameter with score out of 10, feedback/suggestion are provided. A certificate will be issued with overall score. Step 3 5Copyright © Ideovate.io 2015-17
6.
Secondary Research (Validation) Brainstorming
Session Conceptualization & Prototyping Research & Rating Idea Validated 6Copyright © Ideovate.io 2015-17 Validate it before it’s too late Validation Process...
7.
Idea Validation Methodologies Find
Similar Product/Service Already Exists Secondary Research MVP Test Pro-Order Form Crowd Funding Idea Shared With Experts Find Similar Product/Service Already Exists The biggest mistake startup owner makes is keeping the idea to themselves. You must share your idea with others to receive constructive feedback. You can find product/services similar to yours which already exist, someone else has already spent the time and money to validate that idea for you. You can create a “Mini Version” of your product first (MVP) instead of going all out with the full creation of a product. It may not be 100% fully functional, but you’ll get honest feedback on a version people can sort of use, instead of just the idea of that thing. You can also sell before you build i.e., create a landing page with pre-order form. True validation comes from people actually paying you for that idea, even before they can get it. Another very popular way to validate a product idea is thru Crowd Funding. The biggest mistake startup owner makes is keeping the idea to themselves. You must share your idea with others to receive constructive feedback. You can find product/services similar to yours which already exist, someone else has already spent the time and money to validate that idea for you. You can create a “Mini Version” of your product first (MVP) instead of going all out with the full creation of a product. It may not be 100% fully functional, but you’ll get honest feedback on a version people can sort of use, instead of just the idea of that thing. You can also sell before you build i.e., create a landing page with pre-order form. True validation comes from people actually paying you for that idea, even before they can get it. Another very popular way to validate a product idea is thru Crowd Funding. 7 Copyright © Ideovate.io 2015-17
8.
Idea Validation (Free
Plan) Your idea validated on the following parameters and rating from 1-10 will be assigned. Business Model Business Model Market Size How your company will operate and earn revenue? Is this a proven business model or disruptive one? Concept Check Concept Check Market SizeMarket Size The industry you will operate in and your target customers? Are you a local (niche) /global player? Customer pain your business idea solves & how it solved? Is this concept is unique or generic? 8Copyright © Ideovate.io 2015-17
9.
Basic Plan Copyright ©
Ideovate.io 2015-17 9
10.
Idea Validation (Basic
Plan) Free PlanFree Plan Disruptive Potential Disruptive Potential All the parameters validated under FREE Plan will be included in the basic plan like business model, market size & concept validation will also be a part of basic plan. An idea is said to be disruptive enough only if it either creates a market which initially didn’t exist or if it pays heed on providing a better product to the ignored less-demanding consumers.. Get access to all the FREE Idea Validation ReportsGet access to all the FREE Idea Validation Reports Competitive Advantage Competitive Advantage Disruptive Potential Disruptive Potential Peer GroupPeer Group An idea is said to be disruptive enough only if it either creates a market which initially didn’t exist or if it pays heed on providing a better product to the ignored less-demanding consumers.. What differentiates you from everybody else, and why should people choose you and your business over your competitors? Leverage can change your life and business, but only if you take full advantage of it. Comparative study of your peer group companies . Their best practices which you can incorporate. What ways you can create a differentiation between your own & other’s business model. 10Copyright © Ideovate.io 2015-17
11.
Professional Plan Copyright ©
Ideovate.io 2015-17 11
12.
Idea Validation (Professional
Plan) Your idea validated on the following parameters and rating from 1-10 will be assigned. Basic PlanBasic Plan Feedback Loop Feedback Loop All the parameters validated under BASIC Plan will be included in the professional plan like disruptive potential check, competitive advantage check & peer group analysis. We create a feedback loop of expert panel and do a brainstorming on your idea followed by extensive secondary research. Expert opinion are taken and presented in the report. Founder’s Quality Founder’s Quality Feedback Loop Feedback Loop Execution Capabilities Execution Capabilities 12Copyright © Ideovate.io 2015-17 We create a feedback loop of expert panel and do a brainstorming on your idea followed by extensive secondary research. Expert opinion are taken and presented in the report. Startup founders are focused on making their businesses work, and eliminate any hindrances or distractions to their goals. They have overarching strategies and outline the tactics to accomplish. Without strategy, execution is aimless. Without execution, strategy is useless. Planning plays a key role in any business, what is even more important is how, ‘effectively’ those plans are executed.
13.
Enterprise Plan Copyright ©
Ideovate.io 2015-17 13
14.
Idea Validation (Enterprise
Plan) Your idea validated on the following parameters and rating from 1-10 will be assigned. Pro PlanPro Plan Investment Readiness Investment Readiness Your ideas are shared with angle investors and their opinions are recorded. Their investment philosophy rests on four pillars – quality of the founding team, disruptive potential of the idea, market opportunity and validation – in that order of priority. All the parameters validated under PRO Plan will be included in the enterprise plan like founder’s quality, feedback loop, & execution capabilities are checked. Sustainability Scalability Sustainability Scalability Investment Readiness Investment Readiness SWOT Analysis SWOT Analysis Your ideas are shared with angle investors and their opinions are recorded. Their investment philosophy rests on four pillars – quality of the founding team, disruptive potential of the idea, market opportunity and validation – in that order of priority. 14Copyright © Ideovate.io 2015-17 Does a project have a long-term future and is it capable of sustaining itself? While a project that can be scaled up to benefit hundreds of thousands (or perhaps even millions) is clearly preferable then the project which is only catering to thousands. SWOT analysis is a strategic planning tool that helps a business owner identify his or her own strengths and weaknesses, as well as any opportunities and threats that may exist in a specific business situation.
15.
Copyright © Ideovate.io
2015-17 15Parameter wise scores & observations
16.
Business Model Validation How
your company will operate and earn revenue?How your company will operate and earn revenue? The problem you are solving is extremely significant and fortunately this segment of the e- commerce world lacks game changing players, thus you have high chances of success. Building compatibility with the market will lead you to your coveted destination. There’s a lot you can learn from those who have gone before you. There are many such players who already exist in this segment, you can learn from their mistakes and build a model with your own USP, which can create differentiation. This means knowing the pros and cons of the idea and how to improve further to make it scalable. Peer group analysis will be covered in paid subscription plan. Your start-up idea seems to be innovative and has potential to attract lot of customers. The problem you are solving is extremely significant and fortunately this segment of the e- commerce world lacks game changing players, thus you have high chances of success. Building compatibility with the market will lead you to your coveted destination. There’s a lot you can learn from those who have gone before you. There are many such players who already exist in this segment, you can learn from their mistakes and build a model with your own USP, which can create differentiation. This means knowing the pros and cons of the idea and how to improve further to make it scalable. Peer group analysis will be covered in paid subscription plan. Your start-up idea seems to be innovative and has potential to attract lot of customers. Copyright © Ideovate.io 2015-17 16 The problem you are solving is extremely significant and fortunately this segment of the e- commerce world lacks game changing players, thus you have high chances of success. Building compatibility with the market will lead you to your coveted destination. There’s a lot you can learn from those who have gone before you. There are many such players who already exist in this segment, you can learn from their mistakes and build a model with your own USP, which can create differentiation. This means knowing the pros and cons of the idea and how to improve further to make it scalable. Peer group analysis will be covered in paid subscription plan. Your start-up idea seems to be innovative and has potential to attract lot of customers. The problem you are solving is extremely significant and fortunately this segment of the e- commerce world lacks game changing players, thus you have high chances of success. Building compatibility with the market will lead you to your coveted destination. There’s a lot you can learn from those who have gone before you. There are many such players who already exist in this segment, you can learn from their mistakes and build a model with your own USP, which can create differentiation. This means knowing the pros and cons of the idea and how to improve further to make it scalable. Peer group analysis will be covered in paid subscription plan. Your start-up idea seems to be innovative and has potential to attract lot of customers.
17.
Observations (Contd.) As
you are able to state the benefits of your product, the more you can think of, the more likely it is that you’re meeting a real need and can be successful. This gives the company an edge to penetrate the minds of the customer with the idea. There are some startups offering the services which you are planning to offer. Your USP and marketing strategy can curb this disadvantage and give you the edge. In our professional plan, you can understand the business models of the successful players operating in this segment along with their best practices which will help you. You have clearly defined differentiating benefits or features. So take the time to hone in your target buyer personas. Since you know your target audience better, you can approach them and get their opinion or else we can do this for you under professional plan. The market has enough space to allow your growth , thus wise and rigorous marketing campaigns can earn you the feat. You are trying to do lot of things at a time, you need to priorities them and build your prototype focusing on primary features. As you are able to state the benefits of your product, the more you can think of, the more likely it is that you’re meeting a real need and can be successful. This gives the company an edge to penetrate the minds of the customer with the idea. There are some startups offering the services which you are planning to offer. Your USP and marketing strategy can curb this disadvantage and give you the edge. In our professional plan, you can understand the business models of the successful players operating in this segment along with their best practices which will help you. You have clearly defined differentiating benefits or features. So take the time to hone in your target buyer personas. Since you know your target audience better, you can approach them and get their opinion or else we can do this for you under professional plan. The market has enough space to allow your growth , thus wise and rigorous marketing campaigns can earn you the feat. You are trying to do lot of things at a time, you need to priorities them and build your prototype focusing on primary features. Copyright © Ideovate.io 2015-17 17 As you are able to state the benefits of your product, the more you can think of, the more likely it is that you’re meeting a real need and can be successful. This gives the company an edge to penetrate the minds of the customer with the idea. There are some startups offering the services which you are planning to offer. Your USP and marketing strategy can curb this disadvantage and give you the edge. In our professional plan, you can understand the business models of the successful players operating in this segment along with their best practices which will help you. You have clearly defined differentiating benefits or features. So take the time to hone in your target buyer personas. Since you know your target audience better, you can approach them and get their opinion or else we can do this for you under professional plan. The market has enough space to allow your growth , thus wise and rigorous marketing campaigns can earn you the feat. You are trying to do lot of things at a time, you need to priorities them and build your prototype focusing on primary features. As you are able to state the benefits of your product, the more you can think of, the more likely it is that you’re meeting a real need and can be successful. This gives the company an edge to penetrate the minds of the customer with the idea. There are some startups offering the services which you are planning to offer. Your USP and marketing strategy can curb this disadvantage and give you the edge. In our professional plan, you can understand the business models of the successful players operating in this segment along with their best practices which will help you. You have clearly defined differentiating benefits or features. So take the time to hone in your target buyer personas. Since you know your target audience better, you can approach them and get their opinion or else we can do this for you under professional plan. The market has enough space to allow your growth , thus wise and rigorous marketing campaigns can earn you the feat. You are trying to do lot of things at a time, you need to priorities them and build your prototype focusing on primary features.
18.
Market Size Validation The
industry you will operate in and your target customers?The industry you will operate in and your target customers? If you know the size of the market, you have done a lot of research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable. Operating in a scarcely populated market will give you the potential to immensely grow and utilise the market opportunities to the greatest extent. The market of your specified service is the bourgeois sect and the upper class of the 1st and 2nd tier cities, as the service is unfamiliar, reaching out to your target audience through effective marketing campaigns will turnout to be a decider for your success. If you know the size of the market, you have done a lot of research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable. Operating in a scarcely populated market will give you the potential to immensely grow and utilise the market opportunities to the greatest extent. The market of your specified service is the bourgeois sect and the upper class of the 1st and 2nd tier cities, as the service is unfamiliar, reaching out to your target audience through effective marketing campaigns will turnout to be a decider for your success. Copyright © Ideovate.io 2015-17 18 If you know the size of the market, you have done a lot of research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable. Operating in a scarcely populated market will give you the potential to immensely grow and utilise the market opportunities to the greatest extent. The market of your specified service is the bourgeois sect and the upper class of the 1st and 2nd tier cities, as the service is unfamiliar, reaching out to your target audience through effective marketing campaigns will turnout to be a decider for your success. If you know the size of the market, you have done a lot of research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable. Operating in a scarcely populated market will give you the potential to immensely grow and utilise the market opportunities to the greatest extent. The market of your specified service is the bourgeois sect and the upper class of the 1st and 2nd tier cities, as the service is unfamiliar, reaching out to your target audience through effective marketing campaigns will turnout to be a decider for your success.
19.
Observations (Contd.) Market
size of your idea need to be tested thru pre-orders forms on a landing page, response on this will be a solid sign of customer commitment. Someone saying they’re interested is one thing, but seeing people actually pony up their credit card information is a much stronger sign of potential success. Before investing in any business idea, it is vital to conduct a market research and survey. The analysis of the same will reveal important information about consumer behaviour and preferences. You can join our paid plans to achieve this. Positive feedback loop is very important. If there is no further development in the product due to lack of feedback loop, it means it is in the declining phase and demand would decrease. If no feedback is taken then the organisation will be unaware whether the idea be accepted or not by the customers. Since you know the size of the market and identified the potential target customers, you have done some research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable. Market size of your idea need to be tested thru pre-orders forms on a landing page, response on this will be a solid sign of customer commitment. Someone saying they’re interested is one thing, but seeing people actually pony up their credit card information is a much stronger sign of potential success. Before investing in any business idea, it is vital to conduct a market research and survey. The analysis of the same will reveal important information about consumer behaviour and preferences. You can join our paid plans to achieve this. Positive feedback loop is very important. If there is no further development in the product due to lack of feedback loop, it means it is in the declining phase and demand would decrease. If no feedback is taken then the organisation will be unaware whether the idea be accepted or not by the customers. Since you know the size of the market and identified the potential target customers, you have done some research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable. Copyright © Ideovate.io 2015-17 19 Market size of your idea need to be tested thru pre-orders forms on a landing page, response on this will be a solid sign of customer commitment. Someone saying they’re interested is one thing, but seeing people actually pony up their credit card information is a much stronger sign of potential success. Before investing in any business idea, it is vital to conduct a market research and survey. The analysis of the same will reveal important information about consumer behaviour and preferences. You can join our paid plans to achieve this. Positive feedback loop is very important. If there is no further development in the product due to lack of feedback loop, it means it is in the declining phase and demand would decrease. If no feedback is taken then the organisation will be unaware whether the idea be accepted or not by the customers. Since you know the size of the market and identified the potential target customers, you have done some research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable. Market size of your idea need to be tested thru pre-orders forms on a landing page, response on this will be a solid sign of customer commitment. Someone saying they’re interested is one thing, but seeing people actually pony up their credit card information is a much stronger sign of potential success. Before investing in any business idea, it is vital to conduct a market research and survey. The analysis of the same will reveal important information about consumer behaviour and preferences. You can join our paid plans to achieve this. Positive feedback loop is very important. If there is no further development in the product due to lack of feedback loop, it means it is in the declining phase and demand would decrease. If no feedback is taken then the organisation will be unaware whether the idea be accepted or not by the customers. Since you know the size of the market and identified the potential target customers, you have done some research. Understanding how many people need your idea -- and what they’re willing to pay for it -- will help you determine whether your concept is viable.
20.
Concept Validation Evaluating potential
customer response to a product idea.Evaluating potential customer response to a product idea. The concept is quite unique and the start-up owner looks very confident in his/her response which shows that the person strongly believes in the idea but further analysis of the concept may earn additional benefits. Your idea can be easily plagiarized or copied. You must protect your idea by adopting differentiated process or by having best in class quality of party members. You have clarity on the salient features of your own product, but conducting more research on problem/solution side of your idea will allow you to create an ideal service which can easily topple existing players. The concept is quite unique and the start-up owner looks very confident in his/her response which shows that the person strongly believes in the idea but further analysis of the concept may earn additional benefits. Your idea can be easily plagiarized or copied. You must protect your idea by adopting differentiated process or by having best in class quality of party members. You have clarity on the salient features of your own product, but conducting more research on problem/solution side of your idea will allow you to create an ideal service which can easily topple existing players. Copyright © Ideovate.io 2015-17 20 The concept is quite unique and the start-up owner looks very confident in his/her response which shows that the person strongly believes in the idea but further analysis of the concept may earn additional benefits. Your idea can be easily plagiarized or copied. You must protect your idea by adopting differentiated process or by having best in class quality of party members. You have clarity on the salient features of your own product, but conducting more research on problem/solution side of your idea will allow you to create an ideal service which can easily topple existing players. The concept is quite unique and the start-up owner looks very confident in his/her response which shows that the person strongly believes in the idea but further analysis of the concept may earn additional benefits. Your idea can be easily plagiarized or copied. You must protect your idea by adopting differentiated process or by having best in class quality of party members. You have clarity on the salient features of your own product, but conducting more research on problem/solution side of your idea will allow you to create an ideal service which can easily topple existing players.
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Observations (Contd.) One
of the biggest mistakes that an entrepreneur can make is to ignore problem research. Because most entrepreneurs enjoy providing the solution part, they end up neglecting validating the problem they’re solving for. Don’t jump into solution-land right away. Although the concept is extremely suave and has the potential to turn into a highly lucrative business, direct interaction with your target audience regarding their problem will be a multi pronged beneficial scheme. At first, it will validate your concept and you will gain a deep insight about the kind of product they desire. It will also market the product in disguise. In today's world where most of our target audiences engage themselves digitally, it is mandatory for everyone to do a test ad run to get the initial traction. You must create a prototype or minimum value product first. Lean model or idea which does not take huge amount of capital to produce profit is the best one. As you have chalked out your target audience, you need to gain more information about them to properly execute your marketing plan. This is the most significant part, you need to garner more details about them to taste success initially and in the long run. One of the biggest mistakes that an entrepreneur can make is to ignore problem research. Because most entrepreneurs enjoy providing the solution part, they end up neglecting validating the problem they’re solving for. Don’t jump into solution-land right away. Although the concept is extremely suave and has the potential to turn into a highly lucrative business, direct interaction with your target audience regarding their problem will be a multi pronged beneficial scheme. At first, it will validate your concept and you will gain a deep insight about the kind of product they desire. It will also market the product in disguise. In today's world where most of our target audiences engage themselves digitally, it is mandatory for everyone to do a test ad run to get the initial traction. You must create a prototype or minimum value product first. Lean model or idea which does not take huge amount of capital to produce profit is the best one. As you have chalked out your target audience, you need to gain more information about them to properly execute your marketing plan. This is the most significant part, you need to garner more details about them to taste success initially and in the long run. Copyright © Ideovate.io 2015-17 21 One of the biggest mistakes that an entrepreneur can make is to ignore problem research. Because most entrepreneurs enjoy providing the solution part, they end up neglecting validating the problem they’re solving for. Don’t jump into solution-land right away. Although the concept is extremely suave and has the potential to turn into a highly lucrative business, direct interaction with your target audience regarding their problem will be a multi pronged beneficial scheme. At first, it will validate your concept and you will gain a deep insight about the kind of product they desire. It will also market the product in disguise. In today's world where most of our target audiences engage themselves digitally, it is mandatory for everyone to do a test ad run to get the initial traction. You must create a prototype or minimum value product first. Lean model or idea which does not take huge amount of capital to produce profit is the best one. As you have chalked out your target audience, you need to gain more information about them to properly execute your marketing plan. This is the most significant part, you need to garner more details about them to taste success initially and in the long run. One of the biggest mistakes that an entrepreneur can make is to ignore problem research. Because most entrepreneurs enjoy providing the solution part, they end up neglecting validating the problem they’re solving for. Don’t jump into solution-land right away. Although the concept is extremely suave and has the potential to turn into a highly lucrative business, direct interaction with your target audience regarding their problem will be a multi pronged beneficial scheme. At first, it will validate your concept and you will gain a deep insight about the kind of product they desire. It will also market the product in disguise. In today's world where most of our target audiences engage themselves digitally, it is mandatory for everyone to do a test ad run to get the initial traction. You must create a prototype or minimum value product first. Lean model or idea which does not take huge amount of capital to produce profit is the best one. As you have chalked out your target audience, you need to gain more information about them to properly execute your marketing plan. This is the most significant part, you need to garner more details about them to taste success initially and in the long run.
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