Pragmatic Venture Blueprint
Card 2 of 18
Evaluate opportunities
This section emphasizes the importance of quickly analyzing business opportunities to avoid wasting time. Key evaluation criteria include understanding why change is necessary, identifying compelling events that drive customer urgency, and ensuring the ability to effectively target and communicate with potential customers.
Category
Ideation (1-2)
Author
Grant Munro
Evaluate Opportunities
Once you have defined your hypothesis, doing a quick analysis of the opportunities so you don’t waste your valuable time.
Here is some criteria to consider when evaluating your opportunities:
1) Why now
People don’t change how they work or the tools they use just for the sake of it. People are motivated by external factors forcing them to change or face real and measurable consequences.
2) Compelling event / Buying moment
Similar to the above, what events will your customers face that will push the urgency to find a new vendor? Not having these events create challenges in the sales process (long sales cycle and small deal size).
3) Ability to target potential customers
This is less of an issue with B2B vs B2C companies. You need to be able to communicate to your target customers in one form or another. For example, generate an email list, offer some value to them, and provide an incentive to try your solution. If you can’t do that, it will lead to sales and marketing issues down the road.
Additional resources
