Now, let me switch to a team air quality here. And this team is exploring solutions that would allow
people to safeguard against air pollution, which is a serious, serious problem in many
parts of the world. And what I want to bring to your attention here is just the specificity of
the market segmentation. We talked about market segmentation, examples here in the presentation
that can be improved, that were overlapping and not specific. Look at the third market segment
description here. The third market segmentation is a population that suffers from environmental
sensitivities, such as hay fever, very specific condition. What's more, these people are generally
bothered by air allergens, which can include dust, pollen, smells and air particles, right?
Though this team indicates that there are people in the [inaudible] everyone suffers
from air pollution, but some suffer more than others. And there are people who have
real and serious allergies to particles such as dust, pollen, smells and other,
right? Boom, "Hey, this is a specific way of thinking about the problem." And then the team
here actually went ahead and gave a list of current Proxy Products on the market that
people used to address the problem on hand. Air quality websites, air quality apps, home filters,
face masks, nasal filters, fresh air products, canned air, allergy treatment. Canned air? Wow!
Allergy treatments, nasal sprays, antihistamines, puffers, nasal rinse products, saline sprays.
The dynamic in the business plan is that you're progressively earning your credibility, right?
Naturally in the beginning of the business plan,
there are barriers to acceptance. I mean, think about it. And we're not saying that every business
should be funded by venture capitalists. In fact, the answer to the question is probably no, and we
are researching that. But imagine the dynamics between entrepreneur and a venture capitalists.
Your average VC makes one or two investments per year, while seeing more than 500 business plans.
Of course, the natural starting point is going to be one of skepticism.
The odds are against you in this process. And so, what you're doing is as you work,
you're gradually and systematically earning your credibility. You're earning time of
serious people. And this is how you do it. You show that you understand
what's going on. You show that you understand existing solutions. So, that was fantastic.
I personally learned a lot. I appreciated hearing about the current solutions. And now,
let me present you with the persona description of this team. This is the persona here. When she
travels anywhere, not knowing what the air quality will be like, she always packs antihistamines,
nasal sprays to use so she does not feel congested all the time on her trip. I never pack
antihistamines. The majority of people probably don't. And so, right there, I know that these
people are looking at a very specific segment. This is good. Solve specific problems. Specific
leads to specialization. Specialization leads to premiums. Premiums are good.
She finds the nasal irritation bothers her work as she has had a hard time concentrating, right?
Imagine, there are people actually who are bothered at work by not being able to concentrate
due to nasal irritation. Wow! That's serious. If your productivity suffers from nasal congestion
or irritation, that's money on the line. Do you want to invest in better solutions? Yes, you do.
You also get headaches, easily? She gets watery eyes, right? Imagine getting watery eyes at work.
And what's more? Oh my God, just read this. On her last trip to China, she avoided
visiting certain family members as they lived in Beijing. And she was well aware
of the high pollution there. Imagine not seeing your family members because of that.
Would you pay for a better solution? 100%. Fantastic persona description. No way to fake it.
Congratulations team. And that starts with a very specific problem statement, as you saw.