The wrong value proposition
It’s surprisingly common that startups don’t carry out enough research to back up the hypothesis around their idea. At times, they completely misunderstand the value proposition on which they build their product. In simple terms, they try to solve a problem which doesn’t exist or can easily be solved with alternative solutions.
So, startups need to focus on clarifying what value their product creates by asking themselves these basic questions which should then be tested, initially, by a survey of the target market audience:
Client Services Director