3 Ways to transform industry expertise into B2B startup ideas — learnt from building 3 Successful Products
👋🏼 Hey, Jane from the Zenith team here! Welcome to our new series of newsletter. Since we launched Zenith Venture Studio last year, we’ve been asked how founders could come up with viable B2B startup ideas. So today I’d like to share some of the ways we’ve experienced ourselves.
Tl;dr
- Past Pain: Finding and Fixing Those Everyday Headaches
- Ponder and probe: The Magic of Deep Industry Knowledge
- Present pull: Recognizing signs of demand from something you’ve built
A research was conducted by Lenny Rachitsky by interviewing 20+ successful B2B startup founders and has summarized how they found their ideas. Our experience resonates with his findings.
Past Pain: Finding and Fixing Those Everyday Headaches
If you had a magic ward, what tool do you wish you had on your previous projects? And would you be willing to pay a lot of money for it?
What tool or solution did you or others create in past roles that made a significant impact on the company or your team’s success? And does it still lack viable alternatives in the market?
Take one of our co-founders’ past ventures as an example. Before influencer marketing was even a buzzword, marketing teams were scrambling to manage their influencer relationships. The team at first developed a tool for internal use, which later became a solution adopted by some of the biggest brands in the world.
The lesson here? Don’t overlook the “mundane” problems. They’re often the ones that AI can solve really well, bringing huge value to those who need it most.
Ponder and probe: The Magic of Deep Industry Knowledge
What emerging trend do you see that’s gaining traction but remains largely untapped?
One of the most powerful sources of inspiration is the deep understanding industry experts have of the challenges in their field. The best ideas for AI startups often come from people who’ve been in the trenches, seeing these issues firsthand.
Take another example from our co-founder experience. When hotels started listing their available rooms online, instead of listing to just travel agencies, managing all those reservations across multiple platforms became a nightmare for property managers. After speaking with over 10 property managers, the team realized this was an underserved market. They developed a solution that streamlined the process, which is now trusted by international hotel chains.
If you’ve spent years in your field, you’ve likely noticed problems that outsiders overlook. These are golden opportunities to create something truly impactful with AI.
Present pull: Recognizing signs of demand from something you’ve built
Another approach is to simply build your product, but pay attention to features that are gaining significant traction with existing users, even without promotion. This could guide you to adjust your strategy slightly or even pivot to an entirely new product.
We’ve seen this in action. One of our co-founders originally started with a generic data collection and management product for multiple industries. One day, the team noticed unexpected growth from agriculture and energy sectors. They investigated how customers were using the product and refined it, industry by industry. Eventually, it evolved into an enterprise-level data solution that is now trusted by Fortune 500 companies across various sectors, from healthcare to agriculture.
If you are a service provider or consultant in a specific industry, you’re likely to notice recurring requests from your customers. Of all the services you’ve provided, which one is showing the most pull?
Ready to Turn Your Expertise into a Successful AI Startup?
If you’ve spotted a problem in your industry that needs solving, now’s the time to take action. With the right approach, your deep industry knowledge can go beyond AI automation, but a 10X better solution for your industry.
Whether you’re in energy, compliance, or any other sectors, we hope our sharing here would help your journey from industry expert to AI entrepreneur.
Let’s Chat! Have an idea that could transform your industry? Not sure where to start with? We’d love to discuss it with you and share more of our experience.
Zenith Venture Studio is a venture studio that offers a co-founder alternative, partnering with the next generation of innovative entrepreneurs. We collaborate with visionary individuals who bring deep expertise in their respective industries, turning groundbreaking ideas into successful startups. By providing the resources, strategic guidance, and support, we empower domain leaders to build impactful companies that drive the future of their fields. Our mission is to foster innovation and shape the future through transformative ventures.
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