How to test your Startup ? Knowing your potential customers in the market
Startup trend has been around the globe for decades now .
In India ,startups are officially defined as any company whose Headquarters are in India and is less then 7 years old and the annual turnover should be less then 250 Million rupees . And there are almost 65 Million startups in India in the year 2020
Capitalism culture has taken over the world, people no more just do traditional jobs and businesses
Every week a new idea , a new product is being launched in the market
India too is leading this race as many startups such as Ola , Paytm, OYO , Zomato , RazorPay , Vedantu, Doctalk , Unacdemy etc are running their business successfully now ,
But still Indian Startup community gets to see more failed startups every year then the successful ones.
Now there can be various reasons for the failure of the startup .
But what if ,before launching your startup in reality you get a chance to test it’s potential ?
Here we’ll discuss about the steps to test your startup within 30 days , in less then in 5000 rupees
List down all the ideas , you would like test , you can test all of them simultaneously also
Name each of your idea , this will bring in the sense of association and affiliation with the idea
Design the logo for your idea , or you can simply buy one
Buy a domain name for your idea
This will ensure the online presence of your idea . Definitely you can use social media platforms to showcase your idea . But creating a website with a proper domain name will help to grow much
You can buy a domain name for free as well , but for the domain name of your preference you will have to pay.
You can use websites like Godaddy or wix.com for this
Make a landing page , a landing page is basically a single page website that does not have many links
For making a good landing page you might have to pay some amount to
Define your idea , there can be three definitions to your idea
(1) What does your idea do ?
(2) What existing problem it solves ?
(3) How is it different from others ?
Define your idea in most convincing manner . You should remember that the product/service of your idea is still not in market , it’s the representation of your idea which will create the first image
Promote your landing page through Google Adwords , Google Ads and such platforms . This will show the link your landing page to people
This can cost anywhere between 100 to 500 rupees per day
Now comes the most important step that will help you in figuring out the future of your startup
A. CTR or Click Through Ratio
This will show how many people clicked on the add
The amount that you will have to pay for the advertisement of your landing page
The first two matrix will help you in measuring the potential interest of people in your idea
But since you don’t have the real product ready for now . Ask the people to give their contact information such as Phone number or email address
Saying that you will contact them as soon as the product/service is ready
C. Measuring those informations
Now anyone who likes the idea at first can click on it , but someone who’s genuinely interested in your idea will only give you the contact details
This will show you the potential customer for your idea .
And in way you can say that percentage of people who clicked to your idea and who actually gave you the contact details
will be somewhere very close to the success ratio of your startup.
Originally published at https://www.scoobynel.com.
