Best Startup Ideas - 5 Ways to Find the Best Startup Ideas
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You know the saying: If you want to succeed, you have to be willing to fail.
That’s because entrepreneurs and business builders like you do not shy away from failure.
Rather, entrepreneurs are the ones who fail forward—who fail, learn, and then fail again—who see failure as a gift and use it as an opportunity to grow stronger and smarter from all of the mistakes they’ve made.
And that’s how they come up with new startup ideas—ideas that are unique and innovative but also odd and unorthodox, like a new lip gloss scented with Play-Doh.
Whether you’re starting a company, writing a book, or making a game, the key to success is knowing what you’re passionate about. When you know what kind of game you want to play and what kind of book you want to write—you’ll have more ideas on how to make that happen. And with that in mind, these are some proven ways to get startup ideas.
Choosing the best startup idea that fits you is crucial.
Even more importantly is choosing the right market.
Did you know at 42% because they fail to find a market need?
The biggest cause of startup failure is not properly assessing the market.
So, where do you start? Well you could start with our article on starting a startup.
In this guide, you will Identify the problem and then assess the opportunity of the market, along with a bonus invite to iKooru to use our validator free.
1. It's Best to Start with What Your Team Is Good At
Every team is unique. Every team has its own set of strengths and weaknesses. So, naturally, every team will have different ideas about what to do.
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One of the best ways to determine which idea is best for your team is to understand your team members as individuals. This will allow you to see what each person brings to the table and how this fits into the larger structure of the group.
For example, if you have a background in security and cryptography, you might want to focus on solving problems in that area. If you’ve previously worked on an app that generated a lot of revenue, consider exploring the same concept at a different scale.
For one thing, your new idea could be seen as a way to take the original product further. For another, your startup could make money by focusing on the same or similar type of customers.
In order to figure out what your team is good at, think back to when you first started working together. What was it that made the group click?
Yet another way to get the best startup ideas is by having a conversation with each person on your team. Ask them what they’re good at, and then ask them how they would use those skills in a new business venture.
It’s important that you’re not just asking these questions when you’re trying to decide which ideas are best for your company. You want to get input from everyone on the team—not just from one person or a few people—so that you can get a sense of how everyone feels about an idea before it becomes one of your top contenders for further exploration.
Once you’ve gotten some input from everyone on your team, it’s time to look at what you’ve got in front of you—and start making decisions about which ideas are worth pursuing further.
2. Make a List of Things or Problems You'd Like Someone Else to Develop or Solve
The way to get startup ideas is not to try to think of startup ideas. It’s to look for problems, preferably problems you have yourself.
The very best startup ideas tend to have three things in common: they’re something the founders themselves want, that they themselves can build and those few others realize are worth doing. Microsoft, Apple, Yahoo, Google, and Facebook all began this way.
It’s so risky to start a startup that few people who understand the risk will do it.
So, most startups end up founded by accidental entrepreneurs—people who had no intention of becoming an entrepreneur but just happened to start a company.
That’s fine, but if you set out purposefully looking for startup ideas rather than trying to solve your own problem, you’ll either get an idea that doesn’t seem like much of a problem or one that seems like a big problem, but you won’t be motivated to solve it.
3. If You Had to Work for the Next Ten Years, What Project Would You Be Most Looking Forward To?
Getting startup ideas as with other aspects of starting a business, you can take inspiration from the people around you and their lives. The most obvious source of startup ideas is your own life experience.
Think about what you would have been excited to work on for ten years and then research the top-ranked startups in that area, asking yourself what made those companies successful and successful enough to get over a million users.
If you think you’d like to work on something that could help others with similar problems, think about how you could solve this market problem by developing your own product.
And if it happens to be an idea that has an interest in the technology space, consider what role early-stage VCs might play in facilitating your company’s growth.
4. Keep an Eye Out for Recent Shifts in the Global Business Landscape
When you are looking for startup ideas, there are many ways to go about it. You could go to your local library and look through the books on entrepreneurship.
You could check out sites like The New York Times and read through their articles on the future of business. You could even watch shows like The Profit or listen to podcasts like Startup Podcast.
There’s no doubt that the world of business is constantly changing, and most people can relate to being unsure about what the future holds for them.
For example, in the past few years, self-driving cars have become all the rage. It’s a concept that seems futuristic in some cases—and yet they’re already on roads today!
You may be wondering how your business will be affected by this or other changes in society—and while it would be nice to know exactly what the future holds, it’s not always possible to predict everything.
Still, there are plenty of ways to look at the change in our world and imagine the potential impact it might have on you and your business venture.
5. Find Companies That Have Lately Had a Lot of Success and Look for Fresh Adaptations for Them
When we’re brainstorming new startup ideas, we always start by looking for companies that are already successful. We see what they’ve done well and how it could be improved—and we also look for new companies with the same idea, or something slightly different from them.
This is an easy way to get a lot of ideas out of the way quickly—and it can also help you avoid some of the most common pitfalls.
Many startups fail because they don’t adapt to the market, and the tech in their field changes quickly. If you find a company that’s successful now, but you think it’s going to go out of style in a year or two, it might not be a good idea to copy exactly what they do now.
Instead, look at how they’re doing things and try to think of ways to improve on what they did. It’s important to keep your startup unique—but if you make that unique feature something that’s less useful than what other companies are doing right now, you might be missing out on an opportunity to make your startup stand out in an increasingly crowded field.
BONUS: 10 Exercises To Come Up With Profitable Startup Business Ideas.
1) Where do you spend your money?.
2) Time: Look how you spend your time
3) Get feedback from friends / social media
4) Consider if you had unlimited money
5) What have you done in your day job that you can make into your side hustle?
6) The first problem wins
7) Unbundle craigslist
8) The “to do list” text
9) Go on Reddit
10) Piggyback popular products
11) Create content
12) Sell your stuff
Validating your ideas
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