How to come up with a successful startup Idea
The startup is now more over a fancy buzzword, The number of startups found daily now is more than ever before but most of them fail miserably in their first three years. There can be many reasons for these failures but one of the most important reason is the Idea.
The idea is one of the most important factors to get success in the startup world, but most of us come with same crap ideas which no one wants.
The most successful startups are solving a problem, but the biggest mistake we do is, we come up with the solution first then look for problems which our solution can solve, I think it doesn’t make sense to you too, correct?
Here are some steps you can use to come up with a successful startup idea.
Step 1: Look for problems not solutions first.
We have to look for problems first, which we can do by using three things which are a pen, a diary and you. Keep a diary with you for a whole week from the early morning you wake up till the night you go to the bed.
Every time you do something you have to answer these three questions
Q1: What you did?
Q2: How much time you took?
Q3: What problems you faced?
Example: I was going to my aunt house so I tried to take a cab, It took me 15 minutes to find one, I find difficulty in finding a cab.
After a week you will have a lot of real problems to whom you never look before, and you have to do is just choose the biggest one.
Step 2: Find other people facing the same problem.
After choosing the problem, you have to validate that is it really a problem other people face or I am the only one.
Now here comes your research skills.
- Use the internet to check what other people are saying about this problem.
- Ask your friends, families or random people that are they find this problem in their life?
If 5 out of 100 people say that yes it is a problem, then my friend you got what you needed.
Step 3: Look for the existing solutions and alternatives.
Before looking for our solution to the problem, we have to look for the existing solutions and alternatives people use, because in last our startup should need to make money and if there is already a cheap alternative or satisfaction solution available than my friend you need to make your solution a level up or to for solving a different problem.
Step 4: Come with so many relevant and irrelevant solutions.
Come with as many solutions as you can, do not think about the feasibility of the idea yet because it will not allow you go out of the box, just throw so many ideas as you can on the board.
Step 5: Select the most convincing to you.
Now its time to check the feasibility of your idea, Selection of the idea should depend on the intersection of team ability, market opportunity and passion.
Your team should need to be able to just start the idea, If you think of 100% of your idea, your team need to be able to fulfil at least 10% of it yet, and else 90 % will be fulfiled by new people you will meet on every new step of the ladder of your startup.
Step 6: Ask People.
Now you have real problem and you have the solution your team capable of to solve, now its time to have your hands dirty and believe, you will feel it as the most difficult work you have ever done but when you do it for 3 to 4 time, this skill will pay you forever in your life.
It’s talking to random people about this problem and the solution you are offering, do not ask family or friends, make notes or you can record while talking but always ask them first for recording.
Step 7: Analyze
Analyze the answers you get from the random people, what was their response to your solution, how many of them want to buy your product or service and many other questions as per your problem and solution, check if their response is positive or negative.
It doesn’t need to be positive for everyone, not every person on road is your customer, but if 10% of people really love your idea then you do not need to follow next step, but if everyone is negative about your idea than go for the next step.
Step 8: Repeat step 4 to step 7
Again go to solutions list you get in step 4, again choose the most convincing one and ask people than analyze, I assure you that you will figure it out.
Congratulations you come up with an idea which really solves a problem faced by many people.