Questions

How do I decide which of my startup ideas to work on?

I want to create a tech high-growth startup, but not just anything. I want something that solves a real problem, that'll help people. I do have a few ideas. I've researched about them, and they all seem to be good ideas. So, now comes the hard part, which one should I choose? Should I test them all - for customer validation (demand) to see what happens?

3answers

Testing your idea on potential clients is a good step.

But more importantly, what excites YOU the most? What will be your drive for getting up early and sticking with it when you run into challenges?

Listen to the Instacart episode of NPR's "How I Built This" podcast. It covers some of these same questions.

Book a call, if you think it would be of help. I am happy to discuss with you further.
-Shaun


Answered 3 years ago

There's one good way to test an idea.

Stand up in front of an audience who has money to burn, in your niche (which relates to some idea you have) + talk about your product.

Provide a PayPal address to hire you to consult on projects related to your idea.

Keep giving talks till you hit a nerve, many people hire you + pay you.

If you sell consulting, you'll be okay with the FTC.

If you sell product... before you have a product + then can't deliver in a timely fashion, you'll be in all sorts of trouble.

Sell consulting related to your ideas.

Target Meetup groups, Co-Work offices, Conferences - all relating to your idea niche.

I've done this for years.

I have a lot of what I think are good ideas + they aren't (no one else cares).

Funny story.

I gave talks for years about how to tool up high speed, high traffic, WordPress sites.

Never really thought anything about it, till my first client told me he'd pay me $10K/month to keep his site running fast.

I felt... well... sleazy, because I thought with all the 1000s of hosting companies around, surely this was common knowledge.

Then I found out all these hosting companies are pretty much worthless for high traffic situations.

So... Now I run a private hosting company.

Sometimes the ideas... you don't think about or that you discount are the most lucrative.

Be sure to pay attention to what people ask you over + over. This tells you how other people perceive you + what expertise they've ascribed to you + thus, where you're biggest truckloads of money are waiting to dump into your bank account.


Answered 3 years ago

I would compare them based on market size/revenue potential, lifestyle (how hard and long will you have to work to make it happen), and how much you care.

Cut any away options that don't have a viable market or you just don't care about (it is hard to keep engaged over the long haul if you don't care.) If you cannot answer that then do more research and soul searching.

When in doubt. I would pick the one that evokes the most passion in you.

Test the idea using a lean startup methodology like you might find in the book Running Lean. If you don't see a positive response from the market then move on to the next idea wiser and more experienced.

Good luck!


Answered 3 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2020 Startups.com LLC. All rights reserved.