Maryada Kashyap | FT213048

• Idea 1:
• Blockchain and GPS based app that detects diseases around an area
• Idea 2:
• Home Gym equipment- Customise your gym and get AR based personalized
workout experience with latest tech
• Idea 3:
• Healthcare app - To deliver high quality care service at the comfort of your
own home in a timely and professional manner
 Assessing Doability of
Ideas
FEASIBILITY
Is it doable?
VALUE
Is it worth doing?
• Idea 1:
• Technological feasibility: Blockchain is an emerging technology but I do not have the right means to implement it at
present • Idea 1: Not enough knowledge from my part
• Market feasibility: The market for such an idea has increased tremendously due to the pandemic • Idea 2: Have experience and will be easier for me to
• Economical feasibility: The subscription plans are a little expensive find investors for the same
• Idea 2: • Idea 3: Too time consuming MARK
• Technological feasibility: – VR technology is new but booming and I have experience on the same ET
• Market feasibility: – It is a unique product and there isn’t much competition, so it will be a trendsetter in the
country. It is for health-conscious, gym freaks, online gamers in all tier - I cities
• Economical feasibility: It is an expensive product but the target customers are premium customers who are not
price sensitive
• Idea 3:
• Technological feasibility: New technology development is not much required
• Market feasibility: Market of old age people has a lot of potential if contacted properly
• Economical feasibility: Contacting and creating a network of patients, doctors, nurses, care givers etc will be a complex and
expensive process

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

• Idea 1: Provide basic blockchain knowledge to the team • Idea 1: This service will ensure the safety of the
• Idea 2: Since I have experience with AR and have contacts with fitness coaches, I can help in creating user friendly population during the pandemic. I need a good
games and ask coaches for consultation as freelancers. This will be more feasible for me. development team to do this idea
• Idea 3: I can help in the segmentation analysis for healthy and not healthy people and provide insights • Idea 2: I am more passionate about this idea. This
service will help people get fit and transform PERSO
themselves while having fun. I can lead the team for NAL
this idea.
• Idea 3: This service will help patients to live a nice life. I
need someone who has experience in healthcare
domain to implement this idea
Exit strategies – We can strike a merger with a big player
Effectuation Principle – Step 1
Who am I What I have

I am an MBA student with IT experience and like to • Vision to serve people

learn new technologies • Good interpersonal skills
• Strong idea, talented workforce
• Sufficient capital

What I know Whom I know

• Customer segmentation • Doctors, dieticians, fitness coaches, online

• Consumer Behavior insights gamers, etc
• Market requirements • App developers
• Hands on experience with different apps • A team for app maintenance
• Trends in different technologies • Digital marketing agency
Effectuation Principle – Step 2
What can I do? What is acceptable limit for loss?
Goal • Affordable loss

Idea 1: I have experience on blockchain but do not I can work on the app development part of the idea
know the full working of it and thus cannot provide and provide insights on the UI design as well.
good insights on how to work on the app Since most of my time goes in a full-time MBA course,
I have to manage time for both as I cannot hamper my
Idea 2 : I have contacts with doctors, fitness coaches studies.
and freelance dieticians who can help in development
of the service

Idea 3 : I have worked on app development and

website designing. But I do not have contacts with old
people who will be needing the services.
Effectuation Principle – Step 3
Recalibrated Idea

• Idea 2 is worth doing when compared to other two. The data collection and survey will be tedious for
idea 1 and idea 3 whereas for Idea 2 we only need to target a particular segment.
• The investment needed for Idea 2 is considerably lesser than the other two.
• Utilization of money for Idea 2 will be on a particular set of people rather than the whole population.
An analysis of the different locations and people will be needed for Idea 1 and idea 2 to provide
correct information to our target customers.

• Conclusion – I suggest to go for Idea 2