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The search for a core problem

The search for a core problem

Updated 2 months ago

This is an exercise I am starting in order to get an understanding of existing problems (or opportunities) in the African AI landscape.

I intend to conduct project discovery research in order to draw inspiration from a hybrid of problems that plague me in my everyday life, as well as (internal/external) communities and stakeholders of interest to me.

My Project Discovery exercise

  1. 10 problems that I encounter frequently
  2. 10 problems that Africans encounter (Conduct a 0/1 knapsack survey to identify pain points and top ranking possible services)
  3. 10 problems that businesses encounter (Conduct a 0/1 knapsack survey to identify pain points and possible services)
  4. 10 problems in the domain of Computer Science (databases, data mining, and/or artificial intelligence)
  5. 10 problems big tech companies are solving
  6. 10 problems unicorn companies are solving
  7. Market research and analysis

One of the key goals of the startup discovery phase is to make sure there’s rising user demand for a solution. The outcome of the research should also enable you to answer these 3 questions:

  • Should you really do this?
  • Can you do this better?
  • How much resources do you need?

Resources: Articles I read while coming up with this research plan

TOP 9 Hottest SaaS Trends You Should Follow in 2020 - Clockwise Software
Are you about to build a SaaS application? We collected the hottest SaaS trends to follow to take your business sky-high. ✔ Take a look at the tendencies that drive the overall market and follow those that will guarantee your success. ➜ Clockwise Software
The SaaS Handbook – How to Build Your First Software-as-a-Service Product Step-By-Step
In this extensive write-up, I’ll cover how all the main pieces came together forthe first SaaS I ever launched. From implementing favicon to deploying to a cloud platform, I will shareeverything I learned. I’ll also share extensive code snippets, best practices,lessons, guides, and key resources…
What Is the Project Discovery Phase — Clockwise Software
Discovery phase of a project✔Find out how to save your startup from failure by evaluating your idea and its potential at minimum cost

Notes/Insights

  • 42% of startups fail as there’s no real need for their product. 29% fail as they incorrectly estimate the budget. 19% fail because they get outcompeted or for other reasons.
  • Vertical > Horizontal model: Unlike a horizontal approach, which attempts to cover as many fields as possible, a vertical SaaS strategy focuses on specific needs within an industry and allows getting closer to the potential client.

Hottest SaaS trends:

  • AI
  • Blockchain
  • Vertical SaaS - Offer complex solutions for a specific niche instead of targeting a few industries
  • Pay per use -  PPU model looks more attractive to clients and can stimulate to use your product. Conduct a financial analysis before settling on a pricing strategy.
  • Invest in satisfying your customers more than constantly looking for new ones

In the next post, I will share my findings. Stay tuned!

A small favor

Was anything I wrote confusing, outdated, or incorrect? Please let me know! Just write a few words below and I’ll be sure to amend this post with your suggestions.

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