How do you figure out if your idea for a new venture will be a big success? Jyotirmoy Chakravorty (JC), founder of conversational automation company Ubona, put forward a ₹Score four more’ thesis. He said that on a 10-point scale, if the customer experience of your solution is four points or more higher than the solution that existed till then, you have a definite winner.
He also added that would have been the case, for instance, with app-based cab booking services like Uber/Ola compared to the way all of us had to book cabs before these apps emerged. That was the case, he said, with WhatsApp, compared to SMS.
He said if the difference is at least four points, then people will not abandon the solution even if there are some hiccups, and people will even market the solution for you, because they’ll talk about it. WhatsApp, he noted, barely did any marketing.
An entrepreneur’s life can be a little lonely, they have to write their own story. They have to identify the problem, build a team that believes in them. All of that, can be accomplished with passion, goodwill and honesty.
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