Hey Lykkers! So, you’re huddled with your team, the whiteboard is covered in brilliant, coffee-fueled ideas, and you’re convinced you’ve just sketched out the next big thing. The excitement is electric.

But before you rush into that conference room (or Zoom call) to present, there’s a crucial step that separates dreamers from doers: research.

A great idea is just the starting point. To convince others—investors, your boss, potential partners—you need to prove it’s grounded in reality. Think of it like building a rocket; you need more than a cool design, you need to understand the atmosphere, the materials, and whether anyone actually needs to go to space.

Let’s dive into the 7 things you absolutely must research before presenting your new idea.

1. The Problem You’re Solving (And Who Feels It Most)

Start here. Is the pain point you’re addressing a mild annoyance or a genuine, wallet-opening problem? Dive deep into your target audience. Create "user personas."

How do they currently cope without your solution? As marketing expert Seth Godin puts it, "Don't find customers for your products, find products for your customers" (Godin, 2003). Quantify the problem if you can. How much time/money/stress does it currently cost them? Use surveys, interviews, or industry reports to find hard data.

2. The Competitive Landscape (They Aren't Monsters, They're Teachers)

Saying "we have no competition" is a major red flag. You do—even if it's an old, manual way of doing things. Map out direct and indirect competitors. Use their existence as a learning tool. What are they doing well? Where are their reviews showing frustration? This isn't about fear; it's about finding your unique space.

3. Your Solution's True "Secret Sauce"

What makes your approach not just different, but better and sustainable? Is it proprietary technology, a revolutionary business model, or an unparalleled user experience? This is your Unique Value Proposition (UVP). Be brutally honest here.

How does your "sauce" align with that?

4. The Money: Your Business Model

How will this actually make money? This is where many ideas stumble. Research pricing models in your industry—subscription, freemium, one-time fee? What are customers willing to pay? Calculate your estimated Customer Acquisition Cost (CAC) and Lifetime Value (LTV).

A rough, reasoned model shows you're thinking like a business owner, not just an innovator.

5. The First Steps: Go-to-Market & Traction

How will you get your first 10, 100, or 1000 customers? This is your Go-to-Market (GTM) Strategy. Research the most effective channels for your audience—social media, content marketing, partnerships, sales outreach? Even better, have you validated the idea? Any small proof of concept, like a waitlist or a pilot program, is pure gold in a presentation.

6. The Numbers: Key Metrics & Financial Reality

Ground your vision in numbers. What are the Key Performance Indicators (KPIs) for your first year? Think user growth, revenue, engagement rate. Draft a basic financial projection: startup costs, operating expenses, and a break-even analysis. It doesn’t need to be perfect, but it shows foresight.

7. The Obstacles: A Candid Risk Assessment

Finally, don’t hide from potential pitfalls. Proactively identifying risks—market, technical, financial, regulatory—and having mitigation strategies makes you look credible and prepared. Ask yourself: What could go wrong? What’s our Plan B? This shows maturity and builds immense trust with your audience.

Doing this homework transforms you from a passionate pitcher into a credible founder. It turns "I think" into "I know." So, Lykkers, roll up your sleeves and get researching. Your idea deserves that solid foundation. Now go build that rocket!