The idea of megatrends and week signals have taken over the
world by storm. Rise in technology and accelerating urbanization are the two
major kinds of megatrends in which our idea could fit into. Firstly,
urbanization is constantly taking place. Where, in 1950, only 30% of the world
population were living in urban areas, by 2030 it is expected that around 4.9
billion people would be doing the same. This is giving birth to “smart cities”
Secondly, Technology is another megatrend that accommodates
our business venture idea. Technology, no doubt is taking over the world.
Therefore, it helps us believe that there is never an end to the next big thing
in this area.
Our Business venture has been formed by the amalgamation of
both these megatrends and week-signals offered by them.
The weak-trend identified in this startup is the uberization
of jobs. There have been many failed attempts of uberizing objects (eg. The
uberization of washing machines). As many of these start-ups did not take of,
for “instajob”, it was kept in mind to not repeat the mistakes made by others.
The uberization of jobs would help the employing and employment process get
technologically advanced and much easier to execute. Also due to constant
urbanization, there has been a shortage of jobs. Finding jobs this way would
further make the urbanization process more efficient. (PwC, 2018)
Design thinking (200)
Design thinking is a concept based on matching the needs of
customers to what a designer can imagine and create. (Brown
and Wyatt, 2010). Design is now being used to identify and meet the needs of customers in a better way. Observing
is a method to learn important information about the customer, his needs and wants.
Observation would also play an important part in the development of our
venture. As a specific minimal viable product (MVP) would be created at first
and launched into the market, this would help us observe how the customers feel
about the service and how it could be modified to better suit their needs.
After the observing process, data would be collected from the market, and reflection
and analysis of the same would then take place. Once that is done, a team of
designers would be have to brought together, who would brainstorm and tackle
the specific problems and find solutions to the same. Prototypes of the
following solutions of the same would then be created, tested and finally
launched back in the market. This would be an ongoing process, till the ideal
product has been formed. This ideal product may also need modifications in the
future. (Leonard and Rayport, 2011)
For deciding on the specific idea of “INSTAJOB”, the NUF
test was used. Here, an idea was selected on the basis of it being new, useful
Using the NUF test a conclusion was reached that, instajob is
the idea that would most possibly be the best business idea to base our startup
Opportunity algorithm was also used to determine what idea
is to be used.
Lend it (opportunity 1)
E-Tailor (opportunity 2)
Instajob (opportunity 3)
After an NUF test, an opportunity algorithm was also
applied. A similar result was seen over here.
Along with these tests a casual vote was taken from a group
of 17 people doing a creativity course in their university and 7 businessmen in
India. Here a mixed response was obtained. This response made things a little
difficult as it highlighted the positives and shortcomings of each idea.
Here, it was evident that our two major choices are “Lend
It” and “Instajob”.
A major revelation made here was that out of the students
who took part in the vote, there was a certain liking towards “Lend It” (3
liked E-Tailor, 8 liked lend it and 5 liked instajob). Where as the businessmen
in India were more inclined towards “Instajob” (0 liked E-Tailor, 1 liked lend
it and 6 liked instajob). This difference helped us recognize who our target
markets are. They also provided us with a base to start our project.
“Instajob” was finally chosen as a start-up, as, a focused
base was recognized as target here.