Ordinarily, before you establish a business, there is a stated statement of problem that exists to be solved. This statement of problem is derived from an assessment of a deficiency in society and a realization of what capabilities your startup has to solve those deficiencies. Essentially, the market value of this proposition becomes the trade off point for your business and that enables your profit making fortunes. As a general rule of thumb, you are required to conduct some market survey to establish the point of convergence between the problem and your solution. This survey is represented in various forms and for varying objectives. A successful market survey would inform the best market practice and product that is consistent with your objectives.
Time has a special way of changing market conditions in your favor and against you in unparalleled similitude. At one point of conducting the survey to determine your market niche, it is possible to realize some factors that would convincingly outline the objectives of your startup. You may discover that consumers are not able to commute in the desired way at particular periods and this could be the focus of your startup, stretching over a long term. Further feasibility studies may show that your preferred solution to the problem is viable and cost effective. After such convictions have been established, your startup may be established, as logical consequence of pursuing this time tested narrative.
In your line of operations however, you must realize that the factors that were initial guarantors of your product’s viability are not constant, relative to time. There is a real risk of being caught behind evolving problems on the same challenge you sought to deal with. If your startup is not better equipped to accommodate the new and emergent problems, you could well be out of business before you even started.
Your startup needs to understand this possibility of change even in the problems it sought to address. Your chances of success are deeply steeped in your startup’s ability to quickly adapt to the changes that emerge from time to time.
At Korsell, we believe in a holistic assessment of business solutions with a futuristic perspective. It is what drives market growth and regulates industrial sustainability
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