It's very important that your idea solves some sort of real problem. Not only that, but Is the problem worth solving?
So before going further, do some detailed study about the goal behind your idea and its future. Otherwise it would be difficult to find potential customers who can pay you for using your service/product.
Example of a failed startup -
- It was an On-demand laundry startup. But despite several tweaks to its business model, it was unable to scale up without an unsustainable cash burn. “The costs of processing clothes, pick up and drop logistics, and packaging were difficult to recover through prices,” Doormint co-founders Abhinav Agarwal and Naman Lahoty said in a goodbye statement.
One factor that neither the founders nor investors seem to have taken into account is the widespread use of low-cost house help in India. Every neighborhood also has a dhobi (laundry person). An online laundry service has to beat that in convenience and cost. That’s a big ask.
Example of a successful startup -
Ola Cabs - It has emerged to be the most prominent Indian mobility service provider in the country that offers its services across 50 cities in India and is evenly spread across countries, including the UK, Australia, and New Zealand.
The idea of Ola, a cab aggregation startup, came from its founder’s terrible experience. At the same time, he was traveling from Bengaluru to Bandipur, where the driver of his cab stranded him in the middle of nowhere over a failed negotiation deal.
So let's have a look at the difference between models of these two examples and what makes the OLA model successful in comparison with Doormint.
Doormint couldn’t beat the convenience of existing local services provided by local dhobis, maids and dry cleaners , cost and consistency to ensure customer satisfaction.
And that was totally the opposite in the case of the OLA model. All the cost, convenience and customer satisfaction couldn’t be beaten by any of the existing services.