How to Identify Your Target Customers
The clock is ticking on our 20-minute business model. Today's task: Describing potential customers for the new business - in five minutes or less.
In a prior article we discussed a potential new Avondale venture around private equity (PE) investing. We succinctly described the problem we want to solve as follows:
- Investors have a lot of cash sitting on the sidelines earning ~zero returns.
- Investors are dissatisfied with the current PE model, which elevates fund managers' enrichment above investors' desire for prudent investment.
- Some investors want to better control and manage risk and take a more active role in their PE investment choices.
So far, so good, but the clock is ticking on our 20-minute business model. The next question to answer is: Who are our target customers and users? CONTINUE READING …