[Devos Magazine]: What are the attributes that an entrepreneur should have when looking at a market that he aims to capture with his offerings?
[Dan Mocanu]: humbleness, curiosity and empathy:
- to evaluate his/her offer in relation to that of the competition, to see if the offer is significantly better than that of the competition and not “just different”;
- to put himself in the buyer’s or user’s / shoes to get fully the product value in full interaction with the buyer ecosystem and the potential users lifestyle;
- to evaluate if it captures a new market (free of competition), or hopes to get more market share from competition;
- to really know the potential beneficiaries and to be open to research / investigate especially those who may use the offer occasionally or partially, who are not very sophisticated and, especially, those who already find the same utility in alternatives and substitutes, or who cannot afford or are even vehemently opposed, so called “non-customers” a group essential to the success of any new product / service entering the market.