ENTR 4501 - Journey Blog #3
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School
Northeastern University *
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Course
4501
Subject
Information Systems
Date
Dec 6, 2023
Type
docx
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1
Uploaded by prayagbansal07
Journey Blog #3: Lessons from Gate 2 and
Next Steps
Product-Market Fit and Project Alignment:
The concept of product-market fit is pivotal in the start-up world. It signifies the alignment
between the product we're building and the market demand. From our Gate 2 journey, we got
an understanding of our target audience, their pain points, and the current solutions available
in the market. Our primary focus was on college students seeking roommates, a segment that
frequently faces the challenge of finding suitable roommates, especially when moving to a
new city or campus.
Platforms like Facebook, while popular, lacked the security measures necessary for such a
crucial decision-making process. On the other hand, platforms like Roomster, though
seemingly ideal, had their own set of limitations. This gap in the market presented an
opportunity for our solution: an intuitive app-based roommate matching platform prioritizing
compatibility for college students.
How Did We Get There?
Our journey was methodical. We started with brainstorming sessions, identifying the
problem, and understanding the current solutions. We then transitioned to solution-focused
interview questions, aiming to understand the potential of a roommate-matching platform.
Through 1:1 interviews with a diverse group of potential users, we gathered insights that
were invaluable in shaping our solution.
The prototypes we developed, both low and high fidelity, were important in visualizing our
solution. They allowed us to get feedback on our ideas and refine them further. The iterative
process of ideation, feedback, and refinement was crucial in aligning our product with the
market needs.
Next Steps (Personal Perspective):
As I reflect on our journey so far, I believe our next steps should be:
1. Further Refinement: While our solution seems promising, there's always room for
improvement. We need to incorporate the feedback received.
2. Market Testing: This will help us identify any glitches, understand user behaviour on the
platform, and gather initial reviews.
3. Monetization Strategy: We briefly touched upon the idea of a free model with optional
premium memberships. This needs to be fleshed out further, considering operational costs
and potential revenue streams.
4. Expansion: While our initial focus is on college students, there's potential to expand to
other segments, like young working professionals. A phased expansion strategy should be in
place.
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