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- ⏱ 30 Second Entrepreneur : Deep Dive Wednesday!
⏱ 30 Second Entrepreneur : Deep Dive Wednesday!
🤖 Plus, Create a Pitch Deck Using AI With This Tool.
Hello! 🙋♂️
Deep Dive Wednesday
✔ One Business Idea + Our AI Dives Deep and Analyzes it
✔ One Motivational Quote
✔ One Piece of Advice
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⏱ 30 Second Startups!
Deep Dive Wednesday
Startup Idea
We went to our Startup Idea Generator on ValidatorAI.com (it’s FREE)
Because we found a problem, listed below, but we wanted to think through multiple ideas.
Problem:
Basketball sneakers wear out quickly, for those that play often.
Here are the 10 Ideas our AI Came Up With:
1. Customized basketball shoe repair service Pick this idea
2. Subscription-based basketball shoe maintenance kit delivery service Pick this idea
3. Online marketplace for discounted or pre-owned basketball sneakers Pick this idea
4. Basketball shoe rental service for temporary use Pick this idea
5. Basketball shoe exchange program for swapping out worn-out sneakers Pick this idea
6. Basketball shoe customization service to extend their lifespan Pick this idea
7. Mobile basketball shoe repair and cleaning van for on-the-go service Pick this idea
8. Eco-friendly basketball shoe recycling program Pick this idea
9. Basketball shoe insurance for coverage on repairs and replacements Pick this idea
⭐ 10. Basketball shoe durability testing and rating system for informed purchasing decisions Pick this idea
I Really Like #10:
We’ll pick that one, and later we’ll see what the AI says about moving it forward.
How I Would Move this Idea Forward Today:
✔ I like this idea because it could be launched on a budget. No need for inventory, new sneaker technology etc.
✔ Before I talked to anyone, I’d mock up what my rating system looks like. What criteria will you use?
Do you need to be hands-on with the shoes to rate them or can you rate them based on materials used and other criteria?
I would make a simple example of a rating system.
✔ Then, I’d go to the park and other locations where people play basketball several times per week.
✔ I’d ask them if their sneakers wearing out is a major problem.
Is it eating into their budget?
Have they considered ways to remedy this?
Are they open to a solution that addresses this?
✔ You may find out that style and comfort are the two main criteria people select when buying basketball shoes. These hoopers may tell you that sneakers wearing out is just part of life and they accept it. They might not be willing to pay for a ratings system.
✔ Based on this feedback, you can iterate with one of the other 9 ideas and ask if any of those resonate.
#6 might make more sense — users love a specific style of shoe, and maybe they’d pay you to make them last longer.
👉 You should move forward based on the feedback you receive. If customers are resistant to your original idea, modify it to fit the needs they are telling you they have.
⭐ Deep dive into ideas and how to move them forward at ValidatorAI.com
Our AI covers things to consider, target market ideas, revenue models, how to modify your idea to fit the market and much more. It’s FREE!
A Great Quote
Brilliant thinking is rare, but COURAGE is in even shorter supply than genius.
One Piece of Advice
Continuing our MVP talk from the last newsletter:
Your MVP doesn’t have to involve ANY technology whatsoever.
Some ideas for an MVP could be:
⭐ A PDF with your recommendations and learnings.
⭐ A paid Discord group where people meet each other, and you help solve problems.
⭐ A subscription newsletter that you send once per week that includes a summary of the latest developments on a topic.
👉 The goal is to test the willingness of customers to pay for a solution.
AND, the second goal is to get their feedback to determine what else they need to solve their problem.
📄 Optional:
Deeper Dive on the Above Idea.
(2 minute read)
This is what our AI recommends, for our basketball sneaker idea we just discussed.
Our AI gives you:
important things to consider + action items
target market ideas
revenue models
how you may modify your idea to fit the needs of the market
Validator AI Prompt:
🤖 I want to start a basketball sneaker rating and durability system which will help people choose sneakers that will last the longest.
Hi!
My name is Val
That's a great idea!
Some possible problems to consider could include:
👉 1. Subjectivity:
Evaluating the durability of sneakers can be subjective as different players may have varying experiences with the same shoe model.
2. Testing Methodology:
Developing a standardized testing method to effectively evaluate the durability of basketball sneakers could be complex and costly.
3. Industry Support:
Getting buy-in from major shoe manufacturers to participate in your rating system might be challenging, as they may have their own marketing strategies.
👉 4. Market Adoption:
Convincing basketball players to rely on your rating system and change their purchasing behavior could take time and require significant marketing efforts.
5. Competitive Landscape:
There may already be existing rating systems or platforms in the market that offer similar services, so standing out and capturing market share could be tough. Consider how you can address these challenges in your business plan and approach.
Target Market Ideas:
1. Basketball Players:
The primary target audience would be basketball players, both amateur and professionals, who are constantly on the lookout for durable sneakers.
2. Sports Stores:
Retailers that sell sports equipment and apparel might be interested in such a system to help their customers make the best choice.
3. Parents of Young Athletes:
Parents looking to buy durable and cost-effective sneakers for their children who play basketball could find the system useful.
4. Basketball Coaches:
Coaches could recommend this system to their students to help them purchase the most durable shoes, reducing the frequency of replacements.
5. Sports Brands:
Sports brands may be interested in getting their sneakers tested to identify flaws and make improvements.
Modification of the Idea to Fit Needs of Market:
To ensure your business caters to the needs of the market, you might want to consider expanding beyond basketball sneakers.
You can introduce additional categories like comfort, performance, and support.
Furthermore, you could also extend your rating system to other sports shoes (running, tennis, soccer, etc.). This would cater to a wider audience base and increase the perceived value of your service.
👉 User reviews could also be added for a more comprehensive rating system.
🤩 You can generate everything we just discussed, for FREE, right now on our site ⏬ ⏬ ⏬
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That’s it for today. I hope this motivates you to get moving.
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Take care!
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