Let’s talk about a different take on how to prioritize business ideas.
Let’s draw a 3x3 matrix, with Acuteness of the Problem as one axis and Frequency of Need as the other. Here’s how it looks like -
Problem Priority based on Frequency and Acuteness
Here P0 = highest priority
P4 = lowest priority.
Now let’s throw in some of the services we use into this matrix -
Where do these services fit?
This assumes that the kind of Food Delivery is the one which kills hunger [as a problem] and not vanity.
So about the recent ongoing debate of whether or not to deliver food in 10 minutes, we can apply the above.
Maybe Frequency is the thing preventing many on-demand Ambulance services starting up?
Maybe Strength of the Need is preventing cab services from solving the problem of driver cancellations? Here, strength looks to be a function of propensity to pay & availability of alternative solutions.
What do you think? Do comment.