Assessing Doability of

IdeasFEASIBILITY
IDEA 3
VALUE
Yes, it is doable Is it worth doing?
• Technological feasibility – With advent of latest technology the application can
be used to measure and track the actual improvements in the overall wellness
of each of the family members after taking these services Health is wealth . And considering diseases like high blood
pressure and obese , Health should be considered as the
• Market feasibility – There would lots of threats to the product but Innovating outmost priority
process and routines that improves the wellness of the people that is
customizable to the individual situations and needs.
MARKET
• Economical feasibility – It will be an medium level product which shall be
reasonable to all the people because our targeted segment here is family

Can I do it? Do I want to do it?

• GYM and health related benefits coupons
• Separate goal for wellbeing in appraisal process and incentives assigned to it
• Workshops or Zumba classes for family members
• Do segmentation for healthy and not healthy people and provide consultation
separately
• Advertising outlets of the application and its unified features
• We would design specific wellness programs that would cater to
the unified segment that we identified. We would design certain
wellness programs for the family members in timely and more
professional manner
• Exit strategies – Will try to add 3rd party authentication vendor which
would beneficial to the people who are leading family like providing
free health consultation
PERSONAL
 Apply 5Q
Framework
Question 1 – What important customer problem can you solve?
Idea 1:
Idea 2: Gym enthusiasts/health- conscious people who have extremely busy work lives and have been missing their gym routine due to the frequent lockdowns
during the pandemic can now enjoy a personalised workout experience at home.
Idea 3: Health Care App- Will improve current wellness conditions of self and family in timely and more professional manner and Improve overall performance in day
today activity and motivate people to stay fit and healthy.

How painful is the problem?

Idea 1:
Idea 2: Since the corona virus has began spreading rampantly, Health experts and health authorities have urged people to avoid crowded spaces, public
transportation, and areas where the risk of transmission is high, such as gyms. This has upset the gym enthusiasts, as they can’t afford to stop going to gym or
working out.
Idea 3: As our target customers are majorly mid aged people so problems like obese , high blood pressure , cholesterol is most common now a days and during
pandemic nobody is willing to go out and hit a gym so staying healthy is a lazy activity for most of the people.

How valuable is your solution?

Idea 1:
Idea 2: Our product will help them continue their workout regime safely and seamlessly. Also, it will give the customers the option to design their own home gym
with an AR based personalized workout experience.
Idea 3: The unified product will ensure steady fast health service in home and track the actual improvements in the overall wellness of each of the family members
after taking these services
 Apply 5 Q
Framework
Question 2: How are you going to solve the customer problem?
What will be the main activity of the business, product or service?
Idea 1:
Idea 2: Our product and service will provide a complete workout station to our customers, which will allow simulation of a real time gym environment at the
comfort of their homes. It will allow the customers with the complete freedom to customise their entire gym set, be it bench, dumbbells, or a triceps extension.
Idea 3: The main service from our unique product would be we make use of the latest technologies to monitor the wellbeing of the employees all year round at
a low cost and track the daily/weekly routine of the family with either high/low wellness.

 What are the things and abilities that you need to carry out your ideas?
Idea 1:
Idea 2: A tech-savvy team, with experienced IT professionals who have experience in AR. A proper finance team who can effectively manage the finances of
the business. Also, fitness coaches who can assist the customers to design the gym equipment. A team with good people skills who can address the customer
queries, and a marketing team to design the proper campaigns to position our product.
Idea 3: A similar project called Pulse health care app was developed by my team in my previous organisation for which we know all the technicalities of the
health care application and all the features that the application posses that’s why we are well capable enough to segment and position the product
 Apply 5 Q
Question 3: How many customers are willing to buy from you (other than your family)?

Framework
How many customers are there? (This is your MARKET and the Market size. Defining this clearly will help you answer the rest of the question in this list.)
Idea 1:
Idea 2: Gym enthusiasts, fitness freak and tech savvy millennials, and middle-aged working professionals are our target customer segments. We plan to launch
initially in Bangalore. As most of the population there constitutes young working professionals, hence we are estimating a market size of 1 lakh.
Idea 3:
 How many people will buy from you? This is your Market share.
Idea 1:
Idea 2: We had conducted a small survey to estimate our potential customers with a sample size of 500, and we found that almost 40% were interested to
purchase our product. Hence, we estimate that out of the 1 lakh customers, 40k will buy from us.
Idea 3:
 Who will be your first customer?
Idea 1:
Idea 2: Gym enthusiasts who are currently not being able to hit the gym due to the pandemic.
Idea 3:
 Who will be your 100th customer?
Idea 1:
Idea 2: Tech savvy millennials who will be fascinated by the AR enabled equipment and would want to try our product.
 Apply 5Q
Framework
Question 4: Why can only YOU provide the solution?

How are you unique

Idea 1:
Idea 2: The customer enjoys a wholesome personalized workout
experience in a safe environment and is content. The customer
feels good about himself as he achieves the day-to-day targets of
his workout schedule
Idea 3:

What do you provide that nobody else can ?

 Is it innovation in your product or service?
Idea 1:
Idea 2: The innovation is in both the service and product. The AR
enabled gym equipment, installation, real-time information
about the changes going on in your body, guidance, tracking of
the past and auto-suggest the schedule to be followed and
customization service with 24/7 customer care support makes
this service unique.
Idea 3:

 Is it the kind of people you have in your team? Is it their

abilities that will help in creating an outstanding product or
service?
Idea 1:
Apply 5Q
Framework
Question 5: How can you defend your product or service against the competition?

Idea 1:
Idea 2: We have a competitive advantage by being a trendsetter. But other companies can copy our idea so we need to come up with innovative ideas
constantly and make sure that our product is engaging and challenging for the customers.
Idea 3:
Apply Effectuation Principles
Step 1: Start with an inventory of your means. Apply the Bird-in-Hand
principle, and answer the following in your context.
Apply Effectuation
Principles
Step 3: Look at your means and Affordable Loss. Now, recalibrate your
business idea. How will it change?
Apply Effectuation
Principles
Step 2: Based on the above information, chalk out your goals. The goals
that you choose to pursue should be within your Affordable Loss. Goal
construction and goal achievement are different sides to the same coin.
Effectuation
Cycle